%PDF-1.5 1 0 obj <> endobj 3 0 obj <>] /Rotate 0 /Contents 4 0 R>> endobj 4 0 obj <> stream 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 735.05 m 561.5 735.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 733.05 m 561.5 733.05 l s BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 15.00 Tf ET q 0 0 0 rg BT 247.30 716.55 Td (UNITED ST) Tj ET Q q 0 0 0 rg BT 326.63 716.55 Td (A) Tj ET Q q 0 0 0 rg BT 336.35 716.55 Td (TES) Tj ET Q BT /F2 15.00 Tf ET q 0 0 0 rg BT 144.90 698.55 Td (SECURITIES ) Tj ET Q q 0 0 0 rg BT 238.69 698.55 Td (AND EXCHANGE COMMISSION) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 263.35 690.15 Td (W) Tj ET Q q 0 0 0 rg BT 269.57 690.15 Td (ASHINGT) Tj ET Q q 0 0 0 rg BT 301.73 690.15 Td (ON, D.C. 20549) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 116.5 675.65 m 494.5 675.65 l s BT /F1 11.50 Tf ET BT /F2 15.00 Tf ET q 0 0 0 rg BT 265.35 655.15 Td (FORM10-K) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 306.00 646.75 Td () Tj ET Q BT /F2 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q 0 0 0 rg BT 269.55 522.16 Td (esses; and ) Tj ET Q q 0 0 0 rg BT 291.96 522.16 Td (T) Tj ET Q q 0 0 0 rg BT 294.84 522.16 Td (elephone Number) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 477.00 521.77 Td () Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 506.15 527.16 Td (IRS Employer) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 502.75 522.16 Td (Identification No.) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 69.05 511.81 Td (1-8962) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 112.00 474.77 Td () Tj ET Q BT /F2 15.00 Tf ET q 0 0 0 rg BT 122.00 506.39 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 203.82 506.39 Td (WEST) Tj ET Q q 0 0 0 rg BT 246.90 506.39 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 296.21 506.39 Td (AL) Tj ET Q q 0 0 0 rg BT 316.22 506.39 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 394.68 506.39 Td (TION) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 122.00 496.81 Td (\(An ) Tj ET Q q 0 0 0 rg BT 134.64 496.81 Td (Arizona corporation\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 122.00 489.81 Td (400 North Fifth Str) Tj ET Q q 0 0 0 rg BT 179.62 489.81 Td (eet, P) Tj ET Q q 0 0 0 rg BT 195.29 489.81 Td (.O.Box 53999) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 122.00 482.81 Td (Phoenix, ) Tj ET Q q 0 0 0 rg BT 149.23 482.81 Td (Arizona 85072-3999) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 122.00 475.81 Td (\(602\) 250-1000) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 475.00 474.77 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 504.55 511.81 Td (86-0512431) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 69.05 464.81 Td (1-4473) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 112.00 427.77 Td () Tj ET Q BT /F2 15.00 Tf ET q 0 0 0 rg BT 122.00 459.39 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 192.01 459.39 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 284.84 459.39 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 370.80 459.39 Td (ANY) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 122.00 449.81 Td (\(An ) Tj ET Q q 0 0 0 rg BT 134.64 449.81 Td (Arizona corporation\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 122.00 442.81 Td (400 North Fifth Str) Tj ET Q q 0 0 0 rg BT 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Td () Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 300.75 397.16 Td (TitleOfEachClass) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 394.00 396.77 Td () Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 432.15 397.16 Td (NameOfEachExchangeOnWhichRegistered) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 386.70 Td (PINNACLE WEST CAPITAL CORPORATION) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 240.50 378.81 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 261.50 386.70 Td (Common Stock,) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 261.50 379.70 Td (No Par ) Tj ET Q q 0 0 0 rg BT 282.76 379.70 Td (V) Tj ET Q q 0 0 0 rg BT 287.04 379.70 Td (alue) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 387.50 378.81 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.50 386.70 Td (New York Stock Exchange) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 368.70 Td (ARIZONA PUBLIC SERVICE COMPANY) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 240.50 367.81 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 261.50 368.70 Td (None) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 387.50 367.81 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.50 368.70 Td (None) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 357.15 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 49.50 348.75 Td (Securities r) Tj ET Q q 0 0 0 rg BT 83.39 348.75 Td (egister) Tj ET Q q 0 0 0 rg BT 103.08 348.75 Td (ed pursuant to Section12\(g\)of the ) Tj ET Q q 0 0 0 rg BT 207.11 348.75 Td (Act:) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 340.35 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 80.61 340.35 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 121.28 340.35 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 158.56 340.35 Td (ANY) Tj ET Q q 0 0 0 rg BT 173.47 340.35 Td ( Common Stock, Par ) Tj ET Q q 0 0 0 rg BT 254.42 340.35 Td (V) Tj ET Q q 0 0 0 rg BT 258.70 340.35 Td (alue $2.50 per share) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 331.95 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 323.55 Td (Indicate by check mark if the registrant is a well-known seasoned issuer) Tj ET Q q 0 0 0 rg BT 250.79 323.55 Td (, as defined in Rule405 of the Securities ) Tj ET Q q 0 0 0 rg BT 365.88 323.55 Td (Act) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 305.70 Td (PINNACLEWESTCAPITALCORPORATION) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 298.50 305.70 Td (Y) Tj ET Q q 0 0 0 rg BT 302.85 305.70 Td (es) Tj ET Q /GS0 gs q 7.42 0 0 7.36 310.44 304.19 cm /I4 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 317.86 305.70 Td (No) Tj ET Q /GS0 gs q 6.24 0 0 7.36 331.66 304.19 cm /I5 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 294.70 Td (ARIZONA PUBLIC SERVICE COMPANY) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 298.50 294.70 Td (Y) Tj ET Q q 0 0 0 rg BT 302.85 294.70 Td (es) Tj ET Q /GS0 gs q 7.42 0 0 7.36 310.44 293.19 cm /I6 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 317.86 294.70 Td (No) Tj ET Q /GS0 gs q 6.24 0 0 7.36 331.66 293.19 cm /I7 Do Q BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 306.00 283.15 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 274.75 Td (Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15\(d\)of the ) Tj ET Q q 0 0 0 rg BT 372.19 274.75 Td (Act.) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 256.90 Td (PINNACLE WEST CAPITAL CORPORATION) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 298.50 256.90 Td (Y) Tj ET Q q 0 0 0 rg BT 302.85 256.90 Td (es) Tj ET Q /GS0 gs q 6.24 0 0 7.36 310.44 255.39 cm /I8 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 316.67 256.90 Td (No) Tj ET Q /GS0 gs q 7.42 0 0 7.36 330.48 255.39 cm /I9 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 245.90 Td (ARIZONA PUBLIC SERVICE COMPANY) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 298.50 245.90 Td (Y) Tj ET Q q 0 0 0 rg BT 302.85 245.90 Td (es) Tj ET Q /GS0 gs q 6.24 0 0 7.36 310.44 244.39 cm /I10 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 316.67 245.90 Td (No) Tj ET Q /GS0 gs q 7.42 0 0 7.36 330.48 244.39 cm /I11 Do Q BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 234.35 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 225.95 Td (Indicate by check mark whether the registrant \(1\)has filed all reports required to be filed by Section13 or 15\(d\)of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 441.17 225.95 Td (Act of 1934 during the preceding 12 ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 217.55 Td (months \(or for such shorter period that the registrant was required to file such reports\), and \(2\)has been subject to such filing requirements for the past 90 days.) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 199.70 Td (PINNACLE WEST CAPITAL CORPORATION) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 298.50 199.70 Td (Y) Tj ET Q q 0 0 0 rg BT 302.85 199.70 Td (es) Tj ET Q /GS0 gs q 7.42 0 0 7.36 310.44 198.19 cm /I12 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 317.86 199.70 Td (No) Tj ET Q /GS0 gs q 6.24 0 0 7.36 331.66 198.19 cm /I13 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 188.70 Td (ARIZONA PUBLIC SERVICE COMPANY) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 298.50 188.70 Td (Y) Tj ET Q q 0 0 0 rg BT 302.85 188.70 Td (es) Tj ET Q /GS0 gs q 7.42 0 0 7.36 310.44 187.19 cm /I14 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 317.86 188.70 Td (No) Tj ET Q /GS0 gs q 6.24 0 0 7.36 331.66 187.19 cm /I15 Do Q BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 177.15 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 168.75 Td (Indicate by check mark whether the registrant has submitted electronically and posted on its corporate ) Tj ET Q q 0 0 0 rg BT 336.86 168.75 Td (W) Tj ET Q q 0 0 0 rg BT 342.90 168.75 Td (eb site, if any) Tj ET Q q 0 0 0 rg BT 380.16 168.75 Td (, every Interactive Data File required to be submitted and posted ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 160.35 Td (pursuant to Rule405 of Regulation S-T) Tj ET Q q 0 0 0 rg BT 160.19 160.35 Td ( during the preceding 12 months \(or for such shorter period that the registrant was required to submit and post such files\).) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 142.50 Td (PINNACLE WEST CAPITAL CORPORATION) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 298.50 142.50 Td (Y) Tj ET Q q 0 0 0 rg BT 302.85 142.50 Td (es) Tj ET Q /GS0 gs q 7.42 0 0 7.36 310.44 140.99 cm /I16 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 317.86 142.50 Td (No) Tj ET Q /GS0 gs q 6.24 0 0 7.36 331.66 140.99 cm /I17 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 131.50 Td (ARIZONA PUBLIC SERVICE COMPANY) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 298.50 131.50 Td (Y) Tj ET Q q 0 0 0 rg BT 302.85 131.50 Td (es) Tj ET Q /GS0 gs q 7.42 0 0 7.36 310.44 129.99 cm /I18 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 317.86 131.50 Td (No) Tj ET Q /GS0 gs q 6.24 0 0 7.36 331.66 129.99 cm /I19 Do Q BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 119.95 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 111.55 Td (Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant) Tj ET Q q 0 0 0 rg BT 528.68 111.55 Td (s ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 103.15 Td (knowledge, in definitive proxy or information statements incorporated by reference in PartIII of this Form10-K or in any amendment to this Form10-K.) Tj ET Q /GS0 gs q 7.42 0 0 7.36 479.51 101.64 cm /I20 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 94.75 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 86.35 Td (Indicate by check mark whether the registrant is a lar) Tj ET Q q 0 0 0 rg BT 198.06 86.35 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 251.01 86.35 Td (, an accelerated filer) Tj ET Q q 0 0 0 rg BT 307.47 86.35 Td (, a non-accelerated filer) Tj ET Q q 0 0 0 rg BT 373.25 86.35 Td (, or a smaller reporting company) Tj ET Q q 0 0 0 rg BT 464.16 86.35 Td (. See the definitions of lar) Tj ET Q q 0 0 0 rg BT 541.20 86.35 Td (ge ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 77.95 Td (accelerated filer) Tj ET Q q 0 0 0 rg BT 94.10 77.95 Td (, accelerated filer and smaller reporting company in Rule12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 335.88 77.95 Td (Act. \(Check one\):) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 69.55 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 5 0 obj <>] /Rotate 0 /Contents 6 0 R>> endobj 6 0 obj <> stream BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 734.65 Td (PINNACLE WEST CAPITAL CORPORATION) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 298.50 733.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 438.00 738.81 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 136.50 723.65 Td (Lar) Tj ET Q q 0 0 0 rg BT 146.09 723.65 Td (ge accelerated filer) Tj ET Q /GS0 gs q 7.42 0 0 7.36 201.07 722.14 cm /I21 Do Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 298.50 722.76 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 410.55 723.65 Td (Accelerated filer) Tj ET Q /GS0 gs q 6.24 0 0 7.36 459.13 722.14 cm /I22 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 138.85 708.65 Td (Non-accelerated filer) Tj ET Q /GS0 gs q 6.24 0 0 7.36 199.86 707.14 cm /I23 Do Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 298.50 707.76 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 395.70 708.65 Td (Smaller reporting company) Tj ET Q /GS0 gs q 6.24 0 0 7.36 474.04 707.14 cm /I24 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 107.45 697.65 Td (\(Do not check if a smaller reporting company\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 298.50 696.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 438.00 701.81 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 676.65 Td (ARIZONA PUBLIC SERVICE COMPANY) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 298.50 675.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 438.00 680.81 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 137.05 665.65 Td (Lar) Tj ET Q q 0 0 0 rg BT 146.64 665.65 Td (ge accelerated filer) Tj ET Q /GS0 gs q 6.24 0 0 7.36 201.62 664.14 cm /I25 Do Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 298.50 664.76 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 410.55 665.65 Td (Accelerated filer) Tj ET Q /GS0 gs q 6.24 0 0 7.36 459.13 664.14 cm /I26 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 138.25 650.65 Td (Non-accelerated filer) Tj ET Q /GS0 gs q 7.42 0 0 7.36 199.26 649.14 cm /I27 Do Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 298.50 649.76 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 395.70 650.65 Td (Smaller reporting company) Tj ET Q /GS0 gs q 6.24 0 0 7.36 474.04 649.14 cm /I28 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 107.45 639.65 Td (\(Do not check if a smaller reporting company\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 298.50 638.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 438.00 643.81 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 628.10 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 619.70 Td (Indicate by check mark whether each registrant is a shell company \(as defined in Rule12b-2 of the ) Tj ET Q q 0 0 0 rg BT 327.85 619.70 Td (Act\).) Tj ET Q q 0 0 0 rg BT 345.27 619.70 Td (Y) Tj ET Q q 0 0 0 rg BT 349.63 619.70 Td (es) Tj ET Q /GS0 gs q 6.24 0 0 7.36 357.21 618.19 cm /I29 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 363.45 619.70 Td (No) Tj ET Q /GS0 gs q 7.42 0 0 7.36 377.25 618.19 cm /I30 Do Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 611.30 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 602.90 Td (State the aggregate market value of the voting and non-voting common equity held by non-af) Tj ET Q q 0 0 0 rg BT 310.63 602.90 Td (filiates, computed by reference to the price at which the common equity was last sold, or ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 594.50 Td (the average bid and asked price of such common equity) Tj ET Q q 0 0 0 rg BT 204.74 594.50 Td (, as of the last business day of each registrant) Tj ET Q q 0 0 0 rg BT 333.04 594.50 Td (s most recently completed second fiscal quarter:) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 576.65 Td (PINNACLE WEST CAPITAL CORPORATION) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 298.50 575.76 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 317.50 576.65 Td ($6,356,930,539 as of June30, 2014) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 565.65 Td (ARIZONA PUBLIC SERVICE COMPANY) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 298.50 564.76 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 317.50 565.65 Td ($0 as of June30, 2014) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 554.10 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 545.70 Td (The number of shares outstanding of each registrant) Tj ET Q q 0 0 0 rg BT 197.04 545.70 Td (s common stock as of February13, 2015) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 527.85 Td (PINNACLE WEST CAPITAL CORPORATION) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 298.50 526.96 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 317.50 527.85 Td (110,575,187 shares) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 516.85 Td (ARIZONA PUBLIC SERVICE COMPANY) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 298.50 508.96 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 317.50 516.85 Td (Common Stock, $2.50 par value, 71,264,947 shares. Pinnacle West Capital) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 317.50 509.85 Td (Corporation is the sole holder of Arizona Public Service Companys Common Stock.) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 498.30 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 230.15 489.90 Td (DOCUMENTS INCORPORA) Tj ET Q q 0 0 0 rg BT 315.13 489.90 Td (TED BY) Tj ET Q q 0 0 0 rg BT 339.96 489.90 Td ( REFERENCE) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 481.50 Td (Portions of Pinnacle ) Tj ET Q q 0 0 0 rg BT 107.90 481.50 Td (W) Tj ET Q q 0 0 0 rg BT 113.94 481.50 Td (est Capital Corporation) Tj ET Q q 0 0 0 rg BT 181.21 481.50 Td (s definitive Proxy Statement relating to its ) Tj ET Q q 0 0 0 rg BT 300.78 481.50 Td (Annual Meeting of Shareholders to be held on May20, 2015 are incorporated by reference ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (into PartIII hereof.) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 464.70 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 85.50 456.30 Td (Arizona Public Service Company meets the conditions set forth in General Instruction I\(1\)\(a\)and \(b\)of Form10-K and is ther) Tj ET Q q 0 0 0 rg BT 462.96 456.30 Td (efor) Tj ET Q q 0 0 0 rg BT 474.88 456.30 Td (e filing this form with the ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 49.50 447.95 Td (r) Tj ET Q q 0 0 0 rg BT 52.48 447.95 Td (educed disclosur) Tj ET Q q 0 0 0 rg BT 101.94 447.95 Td (e format allowed under) Tj ET Q q 0 0 0 rg BT 171.61 447.95 Td ( that General Instruction.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 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 304.40 32.55 Td (i) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 244.65 739.25 Td (T) Tj ET Q q 0 0 0 rg BT 251.47 739.25 Td (ABLE OF) Tj ET Q q 0 0 0 rg BT 301.20 739.25 Td ( CONTENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 725.45 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 702.95 m 562 702.95 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 705.67 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 318.00 705.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.75 707.03 Td (Page) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 695.03 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 114.50 695.03 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.50 695.03 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 667.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 667.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 639.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.50 639.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 639.52 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 114.50 631.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 513.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.50 513.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 513.52 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 114.50 505.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 363.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.50 363.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 363.52 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 114.50 355.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 265.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.50 265.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 265.52 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 114.50 257.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 223.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.50 223.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 223.52 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 191.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 177.85 Td (This combined Form10-K is separately filed by Pinnacle ) Tj ET Q q 0 0 0 rg BT 366.72 177.85 Td (W) Tj ET Q q 0 0 0 rg BT 377.59 177.85 Td (est and ) Tj ET Q q 0 0 0 rg BT 414.66 177.85 Td (APS. Each r) Tj ET Q q 0 0 0 rg BT 477.70 177.85 Td (egistrant is filing ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 164.05 Td (on its own behalf all of the information contained in this Form10-K that r) Tj ET Q q 0 0 0 rg BT 412.19 164.05 Td (elates to such r) Tj ET Q q 0 0 0 rg BT 485.12 164.05 Td (egistrant and, ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 150.25 Td (wher) Tj ET Q q 0 0 0 rg BT 74.20 150.25 Td (e r) Tj ET Q q 0 0 0 rg BT 87.08 150.25 Td (equir) Tj ET Q q 0 0 0 rg BT 113.07 150.25 Td (ed, its subsidiaries. Except as stated in the pr) Tj ET Q q 0 0 0 rg BT 335.53 150.25 Td (eceding sentence, neither) Tj ET Q q 0 0 0 rg BT 457.65 150.25 Td ( r) Tj ET Q q 0 0 0 rg BT 465.42 150.25 Td (egistrant is filing ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 136.45 Td (any information that does not r) Tj ET Q q 0 0 0 rg BT 202.95 136.45 Td (elate to such r) Tj ET Q q 0 0 0 rg BT 271.41 136.45 Td (egistrant, and ther) Tj ET Q q 0 0 0 rg BT 362.24 136.45 Td (efor) Tj ET Q q 0 0 0 rg BT 381.82 136.45 Td (e makes no r) Tj ET Q q 0 0 0 rg BT 443.89 136.45 Td (epr) Tj ET Q q 0 0 0 rg BT 460.29 136.45 Td (esentation as to any ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 122.65 Td (such information. ) Tj ET Q q 0 0 0 rg BT 141.94 122.65 Td (The information r) Tj ET Q q 0 0 0 rg BT 230.53 122.65 Td (equir) Tj ET Q q 0 0 0 rg BT 256.52 122.65 Td (ed with r) Tj ET Q q 0 0 0 rg BT 300.40 122.65 Td (espect to each company is set forth within the ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 108.85 Td (applicable items. Item 8 of this r) Tj ET Q q 0 0 0 rg BT 210.28 108.85 Td (eport includes Consolidated Financial Statements of Pinnacle ) Tj ET Q q 0 0 0 rg BT 513.24 108.85 Td (W) Tj ET Q q 0 0 0 rg BT 524.10 108.85 Td (est and ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 95.05 Td (Consolidated Financial Statements of ) Tj ET Q q 0 0 0 rg BT 234.79 95.05 Td (APS. Item 8 also includes Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 452.44 95.05 Td (W) Tj ET Q q 0 0 0 rg BT 463.31 95.05 Td (est) Tj ET Q q 0 0 0 rg BT 480.12 95.05 Td (s Consolidated ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 81.25 Td (Financial Statements, the majority of which also r) Tj ET Q q 0 0 0 rg BT 293.96 81.25 Td (elates to ) Tj ET Q q 0 0 0 rg BT 336.12 81.25 Td (APS, and Supplemental Notes, which only ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 67.45 Td (r) Tj ET Q q 0 0 0 rg BT 54.40 67.45 Td (elate to ) Tj ET Q q 0 0 0 rg BT 92.08 67.45 Td (APS) Tj ET Q q 0 0 0 rg BT 117.20 67.45 Td (s Consolidated Financial Statements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 53.65 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 680.1833984375 m 275.0341796875 680.1833984375 l s q 0 0 1 rg BT 52.50 681.52 Td (GLOSSAR) Tj ET Q q 0 0 1 rg BT 97.51 681.52 Td (Y) Tj ET Q q 0 0 1 rg BT 104.37 681.52 Td ( OF NAMES ) Tj ET Q q 0 0 1 rg BT 159.10 681.52 Td (AND ) Tj ET Q q 0 0 1 rg BT 183.09 681.52 Td (TECHNICAL) Tj ET Q q 0 0 1 rg BT 239.38 681.52 Td ( ) Tj ET Q q 0 0 1 rg BT 241.69 681.52 Td (TERMS) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 552.9 680.1833984375 m 558.456640625 680.1833984375 l s q 0 0 1 rg BT 552.90 681.52 Td (ii) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 652.1833984375 m 215.3125 652.1833984375 l s q 0 0 1 rg BT 52.50 653.52 Td (FOR) Tj ET Q q 0 0 1 rg BT 71.40 653.52 Td (W) Tj ET Q q 0 0 1 rg BT 79.73 653.52 Td (ARD-LOOKING ST) Tj ET Q q 0 0 1 rg BT 163.09 653.52 Td (A) Tj ET Q q 0 0 1 rg BT 169.20 653.52 Td (TEMENTS) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 553.5 652.1833984375 m 558.5 652.1833984375 l s q 0 0 1 rg BT 553.50 653.52 Td (2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 624.1833984375 m 82.1923828125 624.1833984375 l s q 0 0 1 rg BT 52.50 625.52 Td (P) Tj ET Q q 0 0 1 rg BT 57.14 625.52 Td (AR) Tj ET Q q 0 0 1 rg BT 70.43 625.52 Td (T) Tj ET Q q 0 0 1 rg BT 76.36 625.52 Td (I) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 553.5 624.1833984375 m 558.5 624.1833984375 l s q 0 0 1 rg BT 553.50 625.52 Td (3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 610.1833984375 m 92.8251953125 610.1833984375 l s q 0 0 1 rg BT 64.50 611.52 Td (Item 1.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 610.1833984375 m 150.0615234375 610.1833984375 l s q 0 0 1 rg BT 114.50 611.52 Td (Business) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 553.5 610.1833984375 m 558.5 610.1833984375 l s q 0 0 1 rg BT 553.50 611.52 Td (3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 596.1833984375 m 100.046875 596.1833984375 l s q 0 0 1 rg BT 64.50 597.52 Td (Item 1A.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 596.1833984375 m 164.7783203125 596.1833984375 l s q 0 0 1 rg BT 114.50 597.52 Td (Risk Factors) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 596.1833984375 m 558.5 596.1833984375 l s q 0 0 1 rg BT 548.50 597.52 Td (26) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 582.1833984375 m 99.4951171875 582.1833984375 l s q 0 0 1 rg BT 64.50 583.52 Td (Item 1B.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 582.1833984375 m 228.19140625 582.1833984375 l s q 0 0 1 rg BT 114.50 583.52 Td (Unresolved Staf) Tj ET Q q 0 0 1 rg BT 179.03 583.52 Td (f Comments) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 582.1833984375 m 558.5 582.1833984375 l s q 0 0 1 rg BT 548.50 583.52 Td (37) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 568.1833984375 m 92.8251953125 568.1833984375 l s q 0 0 1 rg BT 64.50 569.52 Td (Item 2.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 568.1833984375 m 155.046875 568.1833984375 l s q 0 0 1 rg BT 114.50 569.52 Td (Properties) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 568.1833984375 m 558.5 568.1833984375 l s q 0 0 1 rg BT 548.50 569.52 Td (38) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 554.1833984375 m 92.8251953125 554.1833984375 l s q 0 0 1 rg BT 64.50 555.52 Td (Item 3.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 554.1833984375 m 188.640625 554.1833984375 l s q 0 0 1 rg BT 114.50 555.52 Td (Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 554.1833984375 m 558.5 554.1833984375 l s q 0 0 1 rg BT 548.50 555.52 Td (41) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 540.1833984375 m 92.8251953125 540.1833984375 l s q 0 0 1 rg BT 64.50 541.52 Td (Item 4.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 540.1833984375 m 212.8154296875 540.1833984375 l s q 0 0 1 rg BT 114.50 541.52 Td (Mine Safety Disclosures) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 540.1833984375 m 558.5 540.1833984375 l s q 0 0 1 rg BT 548.50 541.52 Td (41) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 526.1833984375 m 209.3876953125 526.1833984375 l s q 0 0 1 rg BT 64.50 527.52 Td (Executive Of) Tj ET Q q 0 0 1 rg BT 117.35 527.52 Td (ficers of Pinnacle ) Tj ET Q q 0 0 1 rg BT 189.64 527.52 Td (W) Tj ET Q q 0 0 1 rg BT 198.28 527.52 Td (est) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 526.1833984375 m 558.5 526.1833984375 l s q 0 0 1 rg BT 548.50 527.52 Td (42) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 498.18339843750005 m 85.5224609375 498.18339843750005 l s q 0 0 1 rg BT 52.50 499.52 Td (P) Tj ET Q q 0 0 1 rg BT 57.14 499.52 Td (AR) Tj ET Q q 0 0 1 rg BT 70.43 499.52 Td (T) Tj ET Q q 0 0 1 rg BT 76.36 499.52 Td (II) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 498.18339843750005 m 558.5 498.18339843750005 l s q 0 0 1 rg BT 548.50 499.52 Td (43) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 484.18339843750005 m 92.8251953125 484.18339843750005 l s q 0 0 1 rg BT 64.50 485.52 Td (Item 5.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 484.18339843750005 m 523.58203125 484.18339843750005 l s q 0 0 1 rg BT 114.50 485.52 Td (Market for Registrants) Tj ET Q q 0 0 1 rg BT 207.62 485.52 Td ( Common Equity) Tj ET Q q 0 0 1 rg BT 275.86 485.52 Td (, Related Stockholder Matters and Issuer Purchases of Equity ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 474.18339843750005 m 153.93359375 474.18339843750005 l s q 0 0 1 rg BT 114.50 475.52 Td (Securities) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 474.28339843750007 m 558.5 474.28339843750007 l s q 0 0 1 rg BT 548.50 475.62 Td (43) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 460.18339843750005 m 92.8251953125 460.18339843750005 l s q 0 0 1 rg BT 64.50 461.52 Td (Item 6.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 460.18339843750005 m 209.4609375 460.18339843750005 l s q 0 0 1 rg BT 114.50 461.52 Td (Selected Financial Data) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 460.18339843750005 m 558.5 460.18339843750005 l s q 0 0 1 rg BT 548.50 461.52 Td (45) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 446.18339843750005 m 92.8251953125 446.18339843750005 l s q 0 0 1 rg BT 64.50 447.52 Td (Item 7.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 446.18339843750005 m 472.791015625 446.18339843750005 l s q 0 0 1 rg BT 114.50 447.52 Td (Management) Tj ET Q q 0 0 1 rg BT 169.48 447.52 Td (s Discussion and ) Tj ET Q q 0 0 1 rg BT 238.65 447.52 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 446.18339843750005 m 558.5 446.18339843750005 l s q 0 0 1 rg BT 548.50 447.52 Td (47) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 432.18339843750005 m 100.046875 432.18339843750005 l s q 0 0 1 rg BT 64.50 433.52 Td (Item 7A.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 432.18339843750005 m 356.12109375 432.18339843750005 l s q 0 0 1 rg BT 114.50 433.52 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 1 rg BT 278.90 433.52 Td (About Market Risk) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 432.18339843750005 m 558.5 432.18339843750005 l s q 0 0 1 rg BT 548.50 433.52 Td (71) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 418.18339843750005 m 92.8251953125 418.18339843750005 l s q 0 0 1 rg BT 64.50 419.52 Td (Item 8.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 418.18339843750005 m 299.451171875 418.18339843750005 l s q 0 0 1 rg BT 114.50 419.52 Td (Financial Statements and Supplementary Data) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 418.18339843750005 m 558.5 418.18339843750005 l s q 0 0 1 rg BT 548.50 419.52 Td (72) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 404.18339843750005 m 92.8251953125 404.18339843750005 l s q 0 0 1 rg BT 64.50 405.52 Td (Item 9.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 404.18339843750005 m 473.3134765625 404.18339843750005 l s q 0 0 1 rg BT 114.50 405.52 Td (Changes in and Disagreements with ) Tj ET Q q 0 0 1 rg BT 260.31 405.52 Td (Accountants on ) Tj ET Q q 0 0 1 rg BT 324.74 405.52 Td (Accounting and Financial Disclosure) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 404.18339843750005 m 558.5 404.18339843750005 l s q 0 0 1 rg BT 543.50 405.52 Td (164) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 390.18339843750005 m 100.046875 390.18339843750005 l s q 0 0 1 rg BT 64.50 391.52 Td (Item 9A.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 390.18339843750005 m 212.8154296875 390.18339843750005 l s q 0 0 1 rg BT 114.50 391.52 Td (Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 390.18339843750005 m 558.5 390.18339843750005 l s q 0 0 1 rg BT 543.50 391.52 Td (164) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 376.18339843750005 m 99.4951171875 376.18339843750005 l s q 0 0 1 rg BT 64.50 377.52 Td (Item 9B.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 376.18339843750005 m 187.5322265625 376.18339843750005 l s q 0 0 1 rg BT 114.50 377.52 Td (Other Information) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 376.18339843750005 m 558.5 376.18339843750005 l s q 0 0 1 rg BT 543.50 377.52 Td (165) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 348.18339843750005 m 88.8525390625 348.18339843750005 l s q 0 0 1 rg BT 52.50 349.52 Td (P) Tj ET Q q 0 0 1 rg BT 57.14 349.52 Td (AR) Tj ET Q q 0 0 1 rg BT 70.43 349.52 Td (T) Tj ET Q q 0 0 1 rg BT 76.36 349.52 Td (III) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 348.18339843750005 m 558.5 348.18339843750005 l s q 0 0 1 rg BT 543.50 349.52 Td (165) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 334.18339843750005 m 97.8251953125 334.18339843750005 l s q 0 0 1 rg BT 64.50 335.52 Td (Item 10.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 334.18339843750005 m 411.82421875 334.18339843750005 l s q 0 0 1 rg BT 114.50 335.52 Td (Directors, Executive Of) Tj ET Q q 0 0 1 rg BT 209.56 335.52 Td (ficers and Corporate Governance of Pinnacle ) Tj ET Q q 0 0 1 rg BT 392.08 335.52 Td (W) Tj ET Q q 0 0 1 rg BT 400.72 335.52 Td (est) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 334.18339843750005 m 558.5 334.18339843750005 l s q 0 0 1 rg BT 543.50 335.52 Td (165) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 320.18339843750005 m 97.4541015625 320.18339843750005 l s q 0 0 1 rg BT 64.50 321.52 Td (Item 1) Tj ET Q q 0 0 1 rg BT 89.95 321.52 Td (1.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 320.18339843750005 m 214.75390625 320.18339843750005 l s q 0 0 1 rg BT 114.50 321.52 Td (Executive Compensation) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 320.18339843750005 m 558.5 320.18339843750005 l s q 0 0 1 rg BT 543.50 321.52 Td (165) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 306.18339843750005 m 97.8251953125 306.18339843750005 l s q 0 0 1 rg BT 64.50 307.52 Td (Item 12.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 306.18339843750005 m 519.65625 306.18339843750005 l s q 0 0 1 rg BT 114.50 307.52 Td (Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 306.18339843750005 m 558.5 306.18339843750005 l s q 0 0 1 rg BT 543.50 307.52 Td (165) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 292.18339843750005 m 97.8251953125 292.18339843750005 l s q 0 0 1 rg BT 64.50 293.52 Td (Item 13.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 292.18339843750005 m 417.1953125 292.18339843750005 l s q 0 0 1 rg BT 114.50 293.52 Td (Certain Relationships and Related ) Tj ET Q q 0 0 1 rg BT 253.18 293.52 Td (T) Tj ET Q q 0 0 1 rg BT 258.93 293.52 Td (ransactions, and Director Independence) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 292.18339843750005 m 558.5 292.18339843750005 l s q 0 0 1 rg BT 543.50 293.52 Td (166) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 278.18339843750005 m 97.8251953125 278.18339843750005 l s q 0 0 1 rg BT 64.50 279.52 Td (Item 14.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 278.18339843750005 m 272.791015625 278.18339843750005 l s q 0 0 1 rg BT 114.50 279.52 Td (Principal ) Tj ET Q q 0 0 1 rg BT 152.55 279.52 Td (Accountant Fees and Services) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 278.18339843750005 m 558.5 278.18339843750005 l s q 0 0 1 rg BT 543.50 279.52 Td (167) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 250.18339843750005 m 89.32373046875 250.18339843750005 l s q 0 0 1 rg BT 52.50 251.52 Td (P) Tj ET Q q 0 0 1 rg BT 57.14 251.52 Td (AR) Tj ET Q q 0 0 1 rg BT 70.43 251.52 Td (T) Tj ET Q q 0 0 1 rg BT 76.36 251.52 Td (IV) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 250.18339843750005 m 558.5 250.18339843750005 l s q 0 0 1 rg BT 543.50 251.52 Td (168) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.5 236.18339843750005 m 97.8251953125 236.18339843750005 l s q 0 0 1 rg BT 64.50 237.52 Td (Item 15.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 114.5 236.18339843750005 m 290.0224609375 236.18339843750005 l s q 0 0 1 rg BT 114.50 237.52 Td (Exhibits and Financial Statement Schedules) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 236.18339843750005 m 558.5 236.18339843750005 l s q 0 0 1 rg BT 543.50 237.52 Td (168) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 208.18339843750005 m 113.6181640625 208.18339843750005 l s q 0 0 1 rg BT 52.50 209.52 Td (SIGNA) Tj ET Q q 0 0 1 rg BT 81.95 209.52 Td (TURES) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 208.18339843750005 m 558.5 208.18339843750005 l s q 0 0 1 rg BT 543.50 209.52 Td (188) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 9 0 obj <>] /Rotate 0 /Contents 10 0 R>> endobj 10 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 302.80 32.55 Td (ii) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 178.00 739.05 Td (GLOSSAR) Tj ET Q q 0 0 0 rg BT 229.77 739.05 Td (Y) Tj ET Q q 0 0 0 rg BT 237.65 739.05 Td ( OF NAMES ) Tj ET Q q 0 0 0 rg BT 300.60 739.05 Td (AND ) Tj ET Q q 0 0 0 rg BT 328.18 739.05 Td (TECHNICAL) Tj ET Q q 0 0 0 rg BT 392.91 739.05 Td ( ) Tj ET Q q 0 0 0 rg BT 395.58 739.05 Td (TERMS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 705.32 Td (ac) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 705.32 Td (Alternating Current) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 691.32 Td (ACC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 691.32 Td (Arizona Corporation Commission) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 677.32 Td (ADEQ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 677.32 Td (Arizona Department of Environmental Quality) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 663.32 Td (AFUDC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 663.32 Td (Allowance for Funds Used During Construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 649.32 Td (ANPP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 649.32 Td (Arizona Nuclear Power Project, also known as Palo Verde) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 635.32 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 635.32 Td (Arizona Public Service Company, a subsidiary of the Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 621.32 Td (APSES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 621.32 Td (APS Energy Services Company,Inc., a subsidiary of the Company sold on August19, 2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 607.32 Td (ARO) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 607.32 Td (Asset retirement obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 593.32 Td (Base Fuel Rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 593.32 Td (The portion of APSs retail base rates attributable to fuel and purchased power costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 579.32 Td (BCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 579.32 Td (Bright Canyon Energy Corporation, a subsidiary of the Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 565.32 Td (BHP Billiton) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 565.32 Td (BHP Billiton New Mexico Coal,Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 551.32 Td (BNCC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 551.32 Td (BHP Navajo Coal Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 537.32 Td (CAISO) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 537.32 Td (California Independent System Operator) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 523.32 Td (Cholla) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 523.32 Td (Cholla Power Plant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 509.32 Td (dc) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 509.32 Td (Direct Current) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 495.32 Td (DOE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 495.32 Td (United States Department of Energy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 481.32 Td (DOI) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 481.32 Td (United States Department of the Interior) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 467.32 Td (DSM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 467.32 Td (Demand side management) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 453.32 Td (DSMAC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 453.32 Td (Demand side management adjustment charge) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 439.32 Td (El Dorado) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 439.32 Td (El Dorado Investment Company, a subsidiary of the Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 425.32 Td (El Paso) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 425.32 Td (El Paso Electric Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 411.32 Td (EPA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 411.32 Td (United States Environmental Protection Agency) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 397.32 Td (FERC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 397.32 Td (United States Federal Energy Regulatory Commission) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 383.32 Td (Four Corners) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 383.32 Td (Four Corners Power Plant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 369.32 Td (GWh) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 369.32 Td (Gigawatt-hour, one billion watts per hour) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 355.32 Td (kV) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 355.32 Td (Kilovolt, one thousand volts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 341.32 Td (kWh) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 341.32 Td (Kilowatt-hour, one thousand watts per hour) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 327.32 Td (LFCR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 327.32 Td (Lost Fixed Cost Recovery Mechanism) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 313.32 Td (MMBtu) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 313.32 Td (One million British Thermal Units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 299.32 Td (MW) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 299.32 Td (Megawatt, one million watts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 285.32 Td (MWh) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 285.32 Td (Megawatt-hour, one million watts per hour) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 271.32 Td (Native Load) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 271.32 Td (Retail and wholesale sales supplied under traditional cost-based rate regulation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 257.32 Td (Navajo Plant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 257.32 Td (Navajo Generating Station) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 243.32 Td (NERC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 243.32 Td (North American Electric Reliability Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 229.32 Td (NRC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 229.32 Td (United States Nuclear Regulatory Commission) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 215.32 Td (NTEC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 215.32 Td (Navajo Transitional Energy Company, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 201.32 Td (OCI) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 201.32 Td (Other comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 187.32 Td (Palo Verde) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 187.32 Td (Palo Verde Nuclear Generating Station or PVNGS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 173.32 Td (Pinnacle West) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 173.32 Td (Pinnacle West Capital Corporation \(any use of the words Company, we, and our refer to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 163.32 Td (PinnacleWest\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 149.32 Td (PSA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 149.32 Td (Power supply adjustor approved by the ACC to provide for recovery or refund of variations in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 139.32 Td (actual fuel and purchased power costs compared with the Base Fuel Rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 125.32 Td (RES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 125.32 Td (Arizona Renewable Energy Standard and Tariff) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 111.32 Td (Salt River Project or SRP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 111.32 Td (Salt River Project Agricultural Improvement and Power District) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 97.32 Td (SCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 97.32 Td (Southern California Edison Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 83.32 Td (SunCor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 83.32 Td (SunCor Development Company, formerly a subsidiary of the Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 69.32 Td (TCA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 69.32 Td (Transmission cost adjustor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 55.32 Td (VIE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.50 55.32 Td (Variable interest entity) Tj ET Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 11 0 obj <>] /Rotate 0 /Contents 12 0 R>> endobj 12 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.10 32.55 Td (2) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 206.55 739.25 Td (FOR) Tj ET Q q 0 0 0 rg BT 230.42 739.25 Td (W) Tj ET Q q 0 0 0 rg BT 240.65 739.25 Td (ARD-LOOKING ST) Tj ET Q q 0 0 0 rg BT 341.71 739.25 Td (A) Tj ET Q q 0 0 0 rg BT 349.16 739.25 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 725.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 711.65 Td (This document contains forward-looking statements based on current expectations. ) Tj ET Q q 0 0 0 rg BT 472.68 711.65 Td (These forward-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 697.85 Td (looking statements are often identified by words such as estimate, predict, may) Tj ET Q q 0 0 0 rg BT 437.40 697.85 Td (, believe, plan, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.05 Td (expect, require, intend, assume and similar words. Because actual results may dif) Tj ET Q q 0 0 0 rg BT 466.33 684.05 Td (fer materially from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.25 Td (expectations, we caution readers not to place undue reliance on these statements. ) Tj ET Q q 0 0 0 rg BT 426.00 670.25 Td (A) Tj ET Q q 0 0 0 rg BT 433.67 670.25 Td ( number of factors could ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.45 Td (cause future results to dif) Tj ET Q q 0 0 0 rg BT 165.54 656.45 Td (fer materially from historical results, or from outcomes currently expected or sought ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 642.65 Td (by Pinnacle ) Tj ET Q q 0 0 0 rg BT 106.14 642.65 Td (W) Tj ET Q q 0 0 0 rg BT 116.08 642.65 Td (est or ) Tj ET Q q 0 0 0 rg BT 143.55 642.65 Td (APS. In addition to the Risk Factors described in Item 1A) Tj ET Q q 0 0 0 rg BT 411.86 642.65 Td ( and in Item 7 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 628.85 Td (Management) Tj ET Q q 0 0 0 rg BT 117.83 628.85 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 197.38 628.85 Td (Analysis of Financial Condition and Results of Operations, these factors ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.05 Td (include, but are not limited to:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 587.45 Td (our ability to manage capital expenditures and operations and maintenance costs while maintaining ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 573.65 Td (reliability and customer service levels;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 559.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 559.85 Td (variations in demand for electricity) Tj ET Q q 0 0 0 rg BT 228.34 559.85 Td (, including those due to weather) Tj ET Q q 0 0 0 rg BT 374.79 559.85 Td (, the general economy) Tj ET Q q 0 0 0 rg BT 475.58 559.85 Td (, customer and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 546.05 Td (sales growth \(or decline\), and the ef) Tj ET Q q 0 0 0 rg BT 232.38 546.05 Td (fects of ener) Tj ET Q q 0 0 0 rg BT 289.00 546.05 Td (gy conservation measures and distributed generation;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 532.25 Td (power plant and transmission system performance and outages;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 518.45 Td (competition in retail and wholesale power markets;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 504.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 504.65 Td (regulatory and judicial decisions, developments and proceedings;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 490.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 490.85 Td (new legislation or regulation, including those relating to environmental requirements, nuclear plant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 477.05 Td (operations and potential deregulation of retail electric markets;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 463.25 Td (fuel and water supply availability;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 449.45 Td (our ability to achieve timely and adequate rate recovery of our costs, including returns on debt and equity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 435.65 Td (capital;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 421.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 421.85 Td (our ability to meet renewable ener) Tj ET Q q 0 0 0 rg BT 224.71 421.85 Td (gy and ener) Tj ET Q q 0 0 0 rg BT 278.15 421.85 Td (gy ef) Tj ET Q q 0 0 0 rg BT 301.25 421.85 Td (ficiency mandates and recover related costs;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 408.05 Td (risks inherent in the operation of nuclear facilities, including spent fuel disposal uncertainty;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 394.25 Td (current and future economic conditions in ) Tj ET Q q 0 0 0 rg BT 262.31 394.25 Td (Arizona, particularly in real estate markets;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 380.45 Td (the development of new technologies which may af) Tj ET Q q 0 0 0 rg BT 304.57 380.45 Td (fect electric sales or delivery;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 366.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 366.65 Td (the cost of debt and equity capital and the ability to access capital markets when required;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 352.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 352.85 Td (environmental and other concerns surrounding coal-fired generation;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 339.05 Td (volatile fuel and purchased power costs;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 325.25 Td (the investment performance of the assets of our nuclear decommissioning trust, pension, and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 311.45 Td (postretirement benefit plans and the resulting impact on future funding requirements;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 297.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 297.65 Td (the liquidity of wholesale power markets and the use of derivative contracts in our business;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 283.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 283.85 Td (potential shortfalls in insurance coverage;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 270.05 Td (new accounting requirements or new interpretations of existing requirements;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 256.25 Td (generation, transmission and distribution facility and system conditions and operating costs;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 242.45 Td (the ability to meet the anticipated future need for additional baseload generation and associated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 228.65 Td (transmission facilities in our region;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 214.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 214.85 Td (the willingness or ability of our counterparties, power plant participants and power plant land owners to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 201.05 Td (meet contractual or other obligations or extend the rights for continued power plant operations; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 187.25 Td (restrictions on dividends or other provisions in our credit agreements and ) Tj ET Q q 0 0 0 rg BT 406.36 187.25 Td (ACC orders.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 159.65 Td (These and other factors are discussed in the Risk Factors described in Item 1A) Tj ET Q q 0 0 0 rg BT 445.42 159.65 Td ( of this report, which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 145.85 Td (readers should review carefully before placing any reliance on our financial statements or disclosures. Neither ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.05 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 132.05 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 132.05 Td (est nor ) Tj ET Q q 0 0 0 rg BT 134.92 132.05 Td (APS assumes any obligation to update these statements, even if our internal estimates ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.25 Td (change, except as required by law) Tj ET Q q 0 0 0 rg BT 204.57 118.25 Td (.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 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 (3) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 287.40 730.25 Td (P) Tj ET Q q 0 0 0 rg BT 293.57 730.25 Td (AR) Tj ET Q q 0 0 0 rg BT 309.78 730.25 Td (T) Tj ET Q q 0 0 0 rg BT 317.24 730.25 Td (I) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 254.20 702.65 Td (ITEM 1. BUSINESS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 682.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 52.38 682.85 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 97.21 682.85 Td (W) Tj ET Q q 0 0 0 rg BT 108.07 682.85 Td (est) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 663.05 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 130.64 663.05 Td (W) Tj ET Q q 0 0 0 rg BT 140.58 663.05 Td (est is a holding company that conducts business through its subsidiaries. ) Tj ET Q q 0 0 0 rg BT 478.63 663.05 Td (W) Tj ET Q q 0 0 0 rg BT 488.57 663.05 Td (e derive ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 649.25 Td (essentially all of our revenues and earnings from our wholly-owned subsidiary) Tj ET Q q 0 0 0 rg BT 410.28 649.25 Td (, ) Tj ET Q q 0 0 0 rg BT 415.40 649.25 Td (APS. ) Tj ET Q q 0 0 0 rg BT 444.48 649.25 Td (APS is a vertically-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 635.45 Td (integrated electric utility that provides either retail or wholesale electric service to most of the State of ) Tj ET Q q 0 0 0 rg BT 521.16 635.45 Td (Arizona, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 621.65 Td (with the major exceptions of about one-half of the Phoenix metropolitan area, the ) Tj ET Q q 0 0 0 rg BT 426.77 621.65 Td (T) Tj ET Q q 0 0 0 rg BT 433.39 621.65 Td (ucson metropolitan area ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 607.85 Td (and Mohave County in northwestern ) Tj ET Q q 0 0 0 rg BT 220.38 607.85 Td (Arizona.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 594.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 580.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 580.25 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 580.25 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 580.25 Td (s other subsidiaries are El Dorado and BCE. ) Tj ET Q q 0 0 0 rg BT 361.91 580.25 Td (Additional information related to these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 566.45 Td (subsidiaries is provided later in this report. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 552.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 538.85 Td (Our reportable business segment is our regulated electricity segment, which consists of traditional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 525.05 Td (regulated retail and wholesale electricity businesses \(primarily electric service to Native Load customers\) and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 511.25 Td (related activities, and includes electricity generation, transmission and distribution.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 497.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 160.20 471.65 Td (BUSINESS OF) Tj ET Q q 0 0 0 rg BT 234.23 471.65 Td ( ) Tj ET Q q 0 0 0 rg BT 236.47 471.65 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 290.15 471.65 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 361.32 471.65 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 427.23 471.65 Td (ANY) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 457.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 444.05 Td (APS currently provides electric service to approximately 1.2 million customers. ) Tj ET Q q 0 0 0 rg BT 458.00 444.05 Td (W) Tj ET Q q 0 0 0 rg BT 467.94 444.05 Td (e own or lease ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.25 Td (6,426 MW) Tj ET Q q 0 0 0 rg BT 99.12 430.25 Td ( of regulated generation capacity and we hold a mix of both long-term and short-term purchased ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 416.45 Td (power agreements for additional capacity) Tj ET Q q 0 0 0 rg BT 239.06 416.45 Td (, including a variety of agreements for the purchase of renewable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 402.65 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 402.65 Td (gy) Tj ET Q q 0 0 0 rg BT 79.83 402.65 Td (. During 2014, no single purchaser or user of ener) Tj ET Q q 0 0 0 rg BT 311.48 402.65 Td (gy accounted for more than 1.4% of our electric ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 388.85 Td (revenues.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 15 0 obj <>] /Rotate 0 /Contents 16 0 R>> endobj 16 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 /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 734.55 Td (The following map shows ) Tj ET Q q 0 0 0 rg BT 207.52 734.55 Td (APS) Tj ET Q q 0 0 0 rg BT 231.81 734.55 Td (s retail service territory) Tj ET Q q 0 0 0 rg BT 338.04 734.55 Td (, including the locations of its generating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (facilities and principal transmission lines. ) Tj ET Q /GS0 gs q 419.00 0 0 522.00 114.50 179.95 cm /I31 Do Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 17 0 obj <>] /Rotate 0 /Contents 18 0 R>> endobj 18 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.10 32.55 Td (5) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 734.75 Td (Energy Sour) Tj ET Q q 0 0 0 rg BT 111.59 734.75 Td (ces and Resour) Tj ET Q q 0 0 0 rg BT 185.49 734.75 Td (ce Planning) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 81.00 714.95 Td () Tj ET Q q 0 0 0 rg BT 83.67 714.95 Td (T) Tj ET Q q 0 0 0 rg BT 89.89 714.95 Td (o serve its customers, ) Tj ET Q q 0 0 0 rg BT 191.14 714.95 Td (APS obtains power through its various generation stations and through ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 701.15 Td (purchased power agreements. Resource planning is an important function necessary to meet ) Tj ET Q q 0 0 0 rg BT 477.43 701.15 Td (Arizona) Tj ET Q q 0 0 0 rg BT 517.67 701.15 Td (s future ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 687.35 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 687.35 Td (gy needs. ) Tj ET Q q 0 0 0 rg BT 117.63 687.35 Td (APS) Tj ET Q q 0 0 0 rg BT 141.92 687.35 Td (s sources of ener) Tj ET Q q 0 0 0 rg BT 218.67 687.35 Td (gy by type during 2014 were as follows:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 673.55 Td () Tj ET Q /GS0 gs q 461.00 0 0 365.00 93.50 303.55 cm /I32 Do Q BT /F1 11.50 Tf ET 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 85.5 279.15031738281255 m 188.02099609375 279.15031738281255 l s q 0 0 0 rg BT 85.50 280.95 Td (Generation Facilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 267.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 253.35 Td (APS has ownership interests in or leases the coal, nuclear) Tj ET Q q 0 0 0 rg BT 349.48 253.35 Td (, gas, oil and solar generating facilities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 239.55 Td (described below) Tj ET Q q 0 0 0 rg BT 123.80 239.55 Td (. For additional information regarding these facilities, see Item 2.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 225.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 211.95 Td (Coal-Fueled Generating Facilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 198.15 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 184.35 Td (Four Corners) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 149.08 184.35 Td ( Four Corners is a 5-unit coal-fired power plant located in the northwestern corner of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 170.55 Td (New Mexico. ) Tj ET Q q 0 0 0 rg BT 117.21 170.55 Td (APS operates the plant and owns 100% of Four Corners Units 1, 2 and 3 and 63% of Four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 156.75 Td (Corners Units 4 and 5 following the acquisition of SCE) Tj ET Q q 0 0 0 rg BT 307.91 156.75 Td (s interest in Units 4 and 5 described below) Tj ET Q q 0 0 0 rg BT 502.63 156.75 Td (. ) Tj ET Q q 0 0 0 rg BT 510.62 156.75 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 142.95 Td (December30, 2013, ) Tj ET Q q 0 0 0 rg BT 144.99 142.95 Td (APS retired Units 1, 2 and 3. ) Tj ET Q q 0 0 0 rg BT 282.99 142.95 Td (APS has a total entitlement from Four Corners of 970 MW) Tj ET Q q 0 0 0 rg BT 552.79 142.95 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 129.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 115.35 Td (On November8, 2010, ) Tj ET Q q 0 0 0 rg BT 193.46 115.35 Td (APS and SCE entered into an asset purchase agreement \(the Asset Purchase ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 101.55 Td (Agreement\) providing for the purchase by ) Tj ET Q q 0 0 0 rg BT 250.69 101.55 Td (APS of SCE) Tj ET Q q 0 0 0 rg BT 311.40 101.55 Td (s 48% interest in each of Units 4 and 5 of Four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 87.75 Td (Corners, allowing ) Tj ET Q q 0 0 0 rg BT 134.15 87.75 Td (APS to acquire 739 MW) Tj ET Q q 0 0 0 rg BT 247.65 87.75 Td ( from SCE. On December30, 2013, ) Tj ET Q q 0 0 0 rg BT 417.89 87.75 Td (APS and SCE closed this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 73.95 Td (transaction. ) Tj ET Q q 0 0 0 rg BT 108.37 73.95 Td (The final purchase price for SCE) Tj ET Q q 0 0 0 rg BT 263.25 73.95 Td (s interest was approximately $182 million, subject to certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 60.15 Td (minor post-closing adjustments.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 19 0 obj <>] /Rotate 0 /Contents 20 0 R>> endobj 20 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.10 32.55 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 734.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 720.75 Td (In connection with ) Tj ET Q q 0 0 0 rg BT 173.97 720.75 Td (APS) Tj ET Q q 0 0 0 rg BT 198.26 720.75 Td (s most recent retail rate case with the ) Tj ET Q q 0 0 0 rg BT 370.70 720.75 Td (ACC, the ) Tj ET Q q 0 0 0 rg BT 416.39 720.75 Td (ACC reserved the right to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (review the prudence of the Four Corners transaction for cost recovery purposes upon the closing of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (transaction. On December23, 2014, the ) Tj ET Q q 0 0 0 rg BT 237.92 693.15 Td (ACC approved rate adjustments related to ) Tj ET Q q 0 0 0 rg BT 433.38 693.15 Td (APS) Tj ET Q q 0 0 0 rg BT 457.67 693.15 Td (s acquisition of SCE) Tj ET Q q 0 0 0 rg BT 555.10 693.15 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (interest in Four Corners resulting in a revenue increase of $57.1 million on an annual basis. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 659.55 Td (Concurrently with the closing of the SCE transaction, BHP) Tj ET Q q 0 0 0 rg BT 356.89 659.55 Td ( Billiton, the parent company of BNCC, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 645.75 Td (coal supplier and operator of the mine that serves Four Corners, transferred its ownership of BNCC to NTEC, a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 631.95 Td (company formed by the Navajo Nation to own the mine and develop other ener) Tj ET Q q 0 0 0 rg BT 414.31 631.95 Td (gy projects. BHP) Tj ET Q q 0 0 0 rg BT 495.66 631.95 Td ( Billiton will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 618.15 Td (be retained by NTEC under contract as the mine manager and operator until July2016. ) Tj ET Q q 0 0 0 rg BT 454.76 618.15 Td (Also occurring ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 604.35 Td (concurrently with the closing, the Four Corners) Tj ET Q q 0 0 0 rg BT 270.62 604.35 Td ( co-owners executed a long-term agreement for the supply of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 590.55 Td (coal to Four Corners from July2016, when the current coal supply agreement expires, through 2031 \(the 2016 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 576.75 Td (Coal Supply ) Tj ET Q q 0 0 0 rg BT 108.93 576.75 Td (Agreement\). El Paso, a 7% owner in Units 4 and 5 of Four Corners, did not sign the 2016 Coal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 562.95 Td (Supply ) Tj ET Q q 0 0 0 rg BT 84.33 562.95 Td (Agreement. Under the 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 277.89 562.95 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 334.09 562.95 Td (APS has agreed to assume the 7% shortfall ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 549.15 Td (obligation. On February 17, 2015, ) Tj ET Q q 0 0 0 rg BT 211.45 549.15 Td (APS and El Paso entered into an asset purchase agreement providing for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 535.35 Td (purchase by ) Tj ET Q q 0 0 0 rg BT 106.98 535.35 Td (APS, or an af) Tj ET Q q 0 0 0 rg BT 168.74 535.35 Td (filiate of ) Tj ET Q q 0 0 0 rg BT 210.26 535.35 Td (APS, of El Paso) Tj ET Q q 0 0 0 rg BT 287.58 535.35 Td (s 7% interest in each of Units 4 and 5 of Four Corners. ) Tj ET Q q 0 0 0 rg BT 544.48 535.35 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 521.55 Td (cash purchase price, which will be subject to certain adjustments at closing, is immaterial in amount, and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 507.75 Td (purchaser will assume El Paso's reclamation and decommissioning obligations associated with the 7% interest. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 493.95 Td (Completion of the purchase is subject to the receipt of certain regulatory approvals and is expected to occur in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 480.15 Td (July 2016.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 460.35 Td (When ) Tj ET Q q 0 0 0 rg BT 115.20 460.35 Td (APS, or an af) Tj ET Q q 0 0 0 rg BT 176.96 460.35 Td (filiate of ) Tj ET Q q 0 0 0 rg BT 218.47 460.35 Td (APS, ultimately acquires El Paso's interest in Four Corners, NTEC will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 446.55 Td (have an option to purchase the interest within a certain timeframe pursuant to an option granted by ) Tj ET Q q 0 0 0 rg BT 505.22 446.55 Td (APS to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 432.75 Td (NTEC. ) Tj ET Q q 0 0 0 rg BT 87.94 432.75 Td (The 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 194.00 432.75 Td (Agreement contains alternate pricing terms for the 7% shortfall obligations in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 418.95 Td (the event NTEC does not exercise its option.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 405.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 391.35 Td (The Four Corners plant site is leased from the Navajo Nation and is also subject to an easement from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 377.55 Td (the federal government. ) Tj ET Q q 0 0 0 rg BT 164.14 377.55 Td (APS, on behalf of the Four Corners participants, negotiated amendments to an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 363.75 Td (existing facility lease with the Navajo Nation which extends the Four Corners leasehold interest from 2016 to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 349.95 Td (2041. ) Tj ET Q q 0 0 0 rg BT 80.92 349.95 Td (The Navajo Nation approved these amendments in March201) Tj ET Q q 0 0 0 rg BT 366.63 349.95 Td (1. ) Tj ET Q q 0 0 0 rg BT 380.80 349.95 Td (The ef) Tj ET Q q 0 0 0 rg BT 410.28 349.95 Td (fectiveness of the amendments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 336.15 Td (also requires the approval of the DOI, as does a related federal rights-of-way grant, which the Four Corners ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 322.35 Td (participants are pursuing. ) Tj ET Q q 0 0 0 rg BT 171.18 322.35 Td (A) Tj ET Q q 0 0 0 rg BT 178.85 322.35 Td ( federal environmental review is underway as part of the DOI review process. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 308.55 Td (March 2014, ) Tj ET Q q 0 0 0 rg BT 110.50 308.55 Td (APS received a draft of the environmental impact statement \("DEIS"\) in connection with the DOI ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 294.75 Td (review process. ) Tj ET Q q 0 0 0 rg BT 126.14 294.75 Td (As a proponent of Four Corners and the Navajo Mine Ener) Tj ET Q q 0 0 0 rg BT 396.76 294.75 Td (gy Project, ) Tj ET Q q 0 0 0 rg BT 448.83 294.75 Td (APS, along with other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 280.95 Td (members of the public, submitted comments on the DEIS. ) Tj ET Q q 0 0 0 rg BT 321.63 280.95 Td (APS cannot predict whether these federal approvals ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 267.15 Td (will be granted and, if so, on a timely basis, or whether any conditions that may be attached to them will be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 253.35 Td (acceptable to the Four Corners owners. On December 19, 2014, ) Tj ET Q q 0 0 0 rg BT 347.78 253.35 Td (APS obtained a Prevention of Significant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 239.55 Td (Deterioration \(PSD\) permit from EP) Tj ET Q q 0 0 0 rg BT 226.01 239.55 Td (A) Tj ET Q q 0 0 0 rg BT 233.68 239.55 Td ( allowing ) Tj ET Q q 0 0 0 rg BT 279.05 239.55 Td (APS to install selective catalytic reduction \(SCR\) control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 225.75 Td (technology at Four Corners, as described below under Environmental Matters EP) Tj ET Q q 0 0 0 rg BT 441.91 225.75 Td (A) Tj ET Q q 0 0 0 rg BT 449.58 225.75 Td ( Environmental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 211.95 Td (Regulation. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 198.15 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 184.35 Td (Cholla) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 116.81 184.35 Td ( Cholla is a 4-unit coal-fired power plant located in northeastern ) Tj ET Q q 0 0 0 rg BT 428.50 184.35 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 473.53 184.35 Td (APS operates the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 170.55 Td (plant and owns 100% of Cholla Units 1, 2 and 3. PacifiCorp owns Cholla Unit 4, and ) Tj ET Q q 0 0 0 rg BT 446.54 170.55 Td (APS operates that unit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 156.75 Td (for PacifiCorp. ) Tj ET Q q 0 0 0 rg BT 123.60 156.75 Td (APS has a total entitlement from Cholla of 647 MW) Tj ET Q q 0 0 0 rg BT 363.06 156.75 Td (. ) Tj ET Q q 0 0 0 rg BT 371.05 156.75 Td (APS purchases all of Cholla) Tj ET Q q 0 0 0 rg BT 503.92 156.75 Td (s coal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 142.95 Td (requirements from a coal supplier that mines all of the coal under long-term leases of coal reserves with the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 129.15 Td (federal and state governments and private landholders. ) Tj ET Q q 0 0 0 rg BT 306.36 129.15 Td (The Cholla coal contract runs through 2024. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 115.35 Td (addition, ) Tj ET Q q 0 0 0 rg BT 92.31 115.35 Td (APS has a long-term coal transportation contract that runs through 2017 with plans to extend the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 101.55 Td (contract beyond 2017. See "Current and Future Resources - Future Resources and Resource Plan" below for a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 87.75 Td (discussion of future plans for Cholla. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 73.95 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 21 0 obj <>] /Rotate 0 /Contents 22 0 R>> endobj 22 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.10 32.55 Td (7) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 734.55 Td (Navajo Generating Station) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 209.44 734.55 Td ( ) Tj ET Q q 0 0 0 rg BT 226.48 734.55 Td (The Navajo Plant is a 3-unit coal-fired power plant located in northern ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (Arizona. Salt River Project operates the plant and ) Tj ET Q q 0 0 0 rg BT 282.63 720.75 Td (APS owns a 14% interest in Navajo Units 1, 2 and 3. ) Tj ET Q q 0 0 0 rg BT 531.47 720.75 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (has a total entitlement from the Navajo Plant of 315 MW) Tj ET Q q 0 0 0 rg BT 310.97 706.95 Td (. ) Tj ET Q q 0 0 0 rg BT 319.39 706.95 Td (The Navajo Plant) Tj ET Q q 0 0 0 rg BT 403.06 706.95 Td (s coal requirements are purchased ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (from a supplier with long-term leases from the Navajo Nation and the Hopi ) Tj ET Q q 0 0 0 rg BT 399.00 693.15 Td (T) Tj ET Q q 0 0 0 rg BT 405.62 693.15 Td (ribe. ) Tj ET Q q 0 0 0 rg BT 431.92 693.15 Td (The Navajo Plant is under ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (contract with its coal supplier through 2019, with extension rights through 2026. ) Tj ET Q q 0 0 0 rg BT 425.23 679.35 Td (The Navajo Plant site is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (leased from the Navajo Nation and is also subject to an easement from the federal government. ) Tj ET Q q 0 0 0 rg BT 491.90 665.55 Td (The current ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (lease expires in 2019. See "Environmental Matters - EP) Tj ET Q q 0 0 0 rg BT 307.36 651.75 Td (A) Tj ET Q q 0 0 0 rg BT 315.03 651.75 Td ( Environmental Regulation - Regional Haze Rules - ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (Navajo Plant" below for a discussion of potential future plans for the Navajo Plant.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.35 Td (These coal-fueled plants face uncertainties, including those related to existing and potential legislation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (and regulation, that could significantly impact their economics and operations. See Environmental Matters ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (below and Management) Tj ET Q q 0 0 0 rg BT 168.29 582.75 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 247.84 582.75 Td (Analysis of Financial Condition and Results of Operations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (Overview and Capital Expenditures in Item 7 for developments impacting these coal-fueled facilities. See ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (Note 10 for information regarding ) Tj ET Q q 0 0 0 rg BT 208.86 555.15 Td (APS) Tj ET Q q 0 0 0 rg BT 233.16 555.15 Td (s coal mine reclamation obligations.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 535.35 Td (Nuclear) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 518.55 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 88.38 518.55 Td (Palo V) Tj ET Q q 0 0 0 rg BT 118.72 518.55 Td (er) Tj ET Q q 0 0 0 rg BT 127.87 518.55 Td (de Nuclear Generating Station ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 282.47 518.55 Td ( Palo ) Tj ET Q q 0 0 0 rg BT 308.46 518.55 Td (V) Tj ET Q q 0 0 0 rg BT 315.49 518.55 Td (erde is a 3-unit nuclear power plant located ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 504.75 Td (approximately 50 miles west of Phoenix, ) Tj ET Q q 0 0 0 rg BT 240.19 504.75 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 285.22 504.75 Td (APS operates the plant and owns 29.1% of Palo ) Tj ET Q q 0 0 0 rg BT 507.96 504.75 Td (V) Tj ET Q q 0 0 0 rg BT 514.99 504.75 Td (erde ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 490.95 Td (Units 1 and 3 and approximately 17% of Unit 2. In addition, ) Tj ET Q q 0 0 0 rg BT 332.17 490.95 Td (APS leases approximately 12.1% of Unit 2, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.15 Td (resulting in a 29.1% combined ownership and leasehold interest in that unit. ) Tj ET Q q 0 0 0 rg BT 404.34 477.15 Td (APS has a total entitlement from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.35 Td (Palo ) Tj ET Q q 0 0 0 rg BT 72.61 463.35 Td (V) Tj ET Q q 0 0 0 rg BT 79.64 463.35 Td (erde of 1,146 MW) Tj ET Q q 0 0 0 rg BT 163.54 463.35 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 449.55 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 435.75 Td (Palo V) Tj ET Q q 0 0 0 rg BT 115.85 435.75 Td (er) Tj ET Q q 0 0 0 rg BT 125.00 435.75 Td (de Leases ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 183.13 435.75 Td ( In 1986, ) Tj ET Q q 0 0 0 rg BT 226.58 435.75 Td (APS entered into agreements with three separate lessor trust entities in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 421.95 Td (order to sell and lease back approximately 42% of its share of Palo ) Tj ET Q q 0 0 0 rg BT 359.38 421.95 Td (V) Tj ET Q q 0 0 0 rg BT 366.41 421.95 Td (erde Unit 2 and certain common facilities. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.15 Td (The agreements expire at the end of 2015 and contain options to renew the leases or to purchase the property ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 393.75 Td (for fair market value at the end of the lease terms. ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 284.19 393.75 Td (On July7, 2014, ) Tj ET Q q 0 0 0 rg BT 366.20 393.75 Td (APS notified the lessor trust entities of ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 49.50 379.35 Td (APS) Tj ET Q q 0 0 0 rg BT 74.85 379.35 Td (s intent to exercise the fixed rate lease renewal options. ) Tj ET Q q 0 0 0 rg BT 345.86 379.35 Td (The length of the renewal options will result ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 49.50 364.95 Td (in ) Tj ET Q q 0 0 0 rg BT 61.17 364.95 Td (APS retaining the assets through 2023 under one lease and 2033 under the other two leases. ) Tj ET Q q 0 0 0 rg BT 506.41 364.95 Td (At the end ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 49.50 350.55 Td (of the lease renewal periods, ) Tj ET Q q 0 0 0 rg BT 188.78 350.55 Td (APS willhave the option to purchase the leased assets at their fair market ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 49.50 336.15 Td (value, extend the leases for up to two years, or return the assets to the lessors. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 427.39 336.15 Td (See Note 18 for additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 322.35 Td (information regarding the Palo ) Tj ET Q q 0 0 0 rg BT 193.65 322.35 Td (V) Tj ET Q q 0 0 0 rg BT 200.68 322.35 Td (erde Unit 2 sale leaseback transactions.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 308.55 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 294.75 Td (Palo V) Tj ET Q q 0 0 0 rg BT 115.85 294.75 Td (er) Tj ET Q q 0 0 0 rg BT 125.00 294.75 Td (de Operating Licenses) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 228.48 294.75 Td ( Operation of each of the three Palo ) Tj ET Q q 0 0 0 rg BT 409.34 294.75 Td (V) Tj ET Q q 0 0 0 rg BT 416.37 294.75 Td (erde Units requires an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 280.95 Td (operating license from the NRC. ) Tj ET Q q 0 0 0 rg BT 204.83 280.95 Td (The NRC issued full power operating licenses for Unit 1 in June1985, Unit 2 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 267.15 Td (in ) Tj ET Q q 0 0 0 rg BT 60.69 267.15 Td (April1986 and Unit 3 in November1987, and issued renewed operating licenses for each of the three units ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 253.35 Td (in ) Tj ET Q q 0 0 0 rg BT 60.69 253.35 Td (April201) Tj ET Q q 0 0 0 rg BT 104.66 253.35 Td (1, which extended the licenses for Units 1, 2 and 3 to June2045, ) Tj ET Q q 0 0 0 rg BT 403.93 253.35 Td (April2046 and November2047, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 239.55 Td (respectively) Tj ET Q q 0 0 0 rg BT 104.31 239.55 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 225.75 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 211.95 Td (Palo V) Tj ET Q q 0 0 0 rg BT 115.85 211.95 Td (er) Tj ET Q q 0 0 0 rg BT 125.00 211.95 Td (de Fuel Cycle ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 201.96 211.95 Td ( ) Tj ET Q q 0 0 0 rg BT 204.63 211.95 Td (The Palo ) Tj ET Q q 0 0 0 rg BT 248.49 211.95 Td (V) Tj ET Q q 0 0 0 rg BT 255.52 211.95 Td (erde participants are continually identifying their future nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 198.15 Td (fuel resource needs and negotiating arrangements to fill those needs. ) Tj ET Q q 0 0 0 rg BT 369.91 198.15 Td (The fuel cycle for Palo ) Tj ET Q q 0 0 0 rg BT 477.95 198.15 Td (V) Tj ET Q q 0 0 0 rg BT 484.98 198.15 Td (erde is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 184.35 Td (comprised of the following stages:) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 167.55 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 167.55 Td (mining and milling of uranium ore to produce uranium concentrates;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 153.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 153.75 Td (conversion of uranium concentrates to uranium hexafluoride;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 139.95 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 139.95 Td (enrichment of uranium hexafluoride;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 126.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 126.15 Td (fabrication of fuel assemblies;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 112.35 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 112.35 Td (utilization of fuel assemblies in reactors; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 98.55 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 98.55 Td (storage and disposal of spent nuclear fuel.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 78.75 Td (The Palo ) Tj ET Q q 0 0 0 rg BT 129.37 78.75 Td (V) Tj ET Q q 0 0 0 rg BT 136.40 78.75 Td (erde participants have contracted for 100% of Palo ) Tj ET Q q 0 0 0 rg BT 372.49 78.75 Td (V) Tj ET Q q 0 0 0 rg BT 379.52 78.75 Td (erde) Tj ET Q q 0 0 0 rg BT 402.50 78.75 Td (s requirements for uranium ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 64.95 Td (concentrates and conversion services through 2018 and 45% of its requirements in 2019-2020. ) Tj ET Q q 0 0 0 rg BT 489.70 64.95 Td (The ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 23 0 obj <>] /Rotate 0 /Contents 24 0 R>> endobj 24 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.10 32.55 Td (8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 734.55 Td (participants have also contracted for 100% of Palo ) Tj ET Q q 0 0 0 rg BT 284.33 734.55 Td (V) Tj ET Q q 0 0 0 rg BT 291.36 734.55 Td (erde) Tj ET Q q 0 0 0 rg BT 314.34 734.55 Td (s enrichment services through 2020; and all of Palo ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (V) Tj ET Q q 0 0 0 rg BT 56.53 720.75 Td (erde) Tj ET Q q 0 0 0 rg BT 79.51 720.75 Td (s fuel assembly fabrication services through 2022.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 693.15 Td (Spent Nuclear Fuel and W) Tj ET Q q 0 0 0 rg BT 206.45 693.15 Td (aste Disposal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 281.85 693.15 Td ( ) Tj ET Q q 0 0 0 rg BT 284.51 693.15 Td (The Nuclear ) Tj ET Q q 0 0 0 rg BT 344.33 693.15 Td (W) Tj ET Q q 0 0 0 rg BT 354.26 693.15 Td (aste Policy ) Tj ET Q q 0 0 0 rg BT 406.65 693.15 Td (Act of 1982 \(NWP) Tj ET Q q 0 0 0 rg BT 497.89 693.15 Td (A\) required ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (the DOE to accept, transport, and dispose of spent nuclear fuel and high level waste generated) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (by the nation) Tj ET Q q 0 0 0 rg BT 112.74 665.55 Td (s nuclear power plants by 1998. ) Tj ET Q q 0 0 0 rg BT 264.56 665.55 Td (The DOE) Tj ET Q q 0 0 0 rg BT 312.14 665.55 Td (s obligations are reflected in a contract for Disposal of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (Spent Nuclear Fuel and/or High-Level Radioactive ) Tj ET Q q 0 0 0 rg BT 286.89 651.75 Td (W) Tj ET Q q 0 0 0 rg BT 296.82 651.75 Td (aste \(the Standard Contract\) with each nuclear power ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (plant. ) Tj ET Q q 0 0 0 rg BT 80.91 637.95 Td (The DOE failed to begin accepting spent nuclear fuel by 1998. ) Tj ET Q q 0 0 0 rg BT 374.39 637.95 Td (APS is directly and indirectly involved ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (in several legal proceedings related to DOE) Tj ET Q q 0 0 0 rg BT 253.23 624.15 Td (s failure to meet its statutory and contractual obligations regarding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (acceptance of spent nuclear fuel and high level waste.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 596.55 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 582.75 Td (APS Lawsuit for Br) Tj ET Q q 0 0 0 rg BT 174.85 582.75 Td (each of Standar) Tj ET Q q 0 0 0 rg BT 247.25 582.75 Td (d Contract) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 296.77 582.75 Td ( In December2003, ) Tj ET Q q 0 0 0 rg BT 404.71 582.75 Td (APS, acting on behalf of itself ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (and the participant owners of Palo ) Tj ET Q q 0 0 0 rg BT 209.61 568.95 Td (V) Tj ET Q q 0 0 0 rg BT 216.64 568.95 Td (erde, filed a lawsuit against DOE in the U.S. Court of Federal Claims for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (damages incurred due to DOE) Tj ET Q q 0 0 0 rg BT 191.93 555.15 Td (s breach of the Standard Contract. ) Tj ET Q q 0 0 0 rg BT 353.95 555.15 Td (The Court of Federal Claims ruled in favor ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.35 Td (of ) Tj ET Q q 0 0 0 rg BT 61.32 541.35 Td (APS and the Palo ) Tj ET Q q 0 0 0 rg BT 144.81 541.35 Td (V) Tj ET Q q 0 0 0 rg BT 151.84 541.35 Td (erde participants in October2010 and awarded $30.2 million in damages to ) Tj ET Q q 0 0 0 rg BT 500.91 541.35 Td (APS and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (Palo ) Tj ET Q q 0 0 0 rg BT 72.61 527.55 Td (V) Tj ET Q q 0 0 0 rg BT 79.64 527.55 Td (erde participants for costs incurred through December2006.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 513.75 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 499.95 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 499.95 Td (On December19, 2012, ) Tj ET Q q 0 0 0 rg BT 197.92 499.95 Td (APS, acting on behalf of itself and the participant owners of Palo ) Tj ET Q q 0 0 0 rg BT 500.16 499.95 Td (V) Tj ET Q q 0 0 0 rg BT 507.19 499.95 Td (erde, filed a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (second breach of contract lawsuit against the DOE. ) Tj ET Q q 0 0 0 rg BT 290.71 486.15 Td (This lawsuit sought to recover damages incurred due to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (DOE) Tj ET Q q 0 0 0 rg BT 76.33 472.35 Td (s failure to accept Palo ) Tj ET Q q 0 0 0 rg BT 183.74 472.35 Td (V) Tj ET Q q 0 0 0 rg BT 190.77 472.35 Td (erde) Tj ET Q q 0 0 0 rg BT 213.75 472.35 Td (s spent nuclear fuel for the period beginning January1, 2007 through ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (June30, 201) Tj ET Q q 0 0 0 rg BT 107.53 458.55 Td (1. On ) Tj ET Q q 0 0 0 rg BT 141.07 458.55 Td (August 18, 2014, ) Tj ET Q q 0 0 0 rg BT 222.54 458.55 Td (APS and DOE entered into a settlement agreement, stipulating to a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (dismissal of the lawsuit and payment of $57.4 million by DOE to the Palo ) Tj ET Q q 0 0 0 rg BT 392.67 444.75 Td (V) Tj ET Q q 0 0 0 rg BT 399.70 444.75 Td (erde owners for certain specified ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.95 Td (costs incurred by Palo ) Tj ET Q q 0 0 0 rg BT 154.05 430.95 Td (V) Tj ET Q q 0 0 0 rg BT 161.08 430.95 Td (erde during the period January 1, 2007 through June 30, 201) Tj ET Q q 0 0 0 rg BT 438.52 430.95 Td (1. ) Tj ET Q q 0 0 0 rg BT 452.26 430.95 Td (APS) Tj ET Q q 0 0 0 rg BT 476.55 430.95 Td (s share of this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.15 Td (amount is $16.7 million. ) Tj ET Q q 0 0 0 rg BT 167.38 417.15 Td (Amounts recovered in the lawsuit and settlement were recorded as adjustments to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (regulatory liability and had no impact on current income.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 375.75 Td (The One-Mill Fee) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 167.89 375.75 Td ( In 201) Tj ET Q q 0 0 0 rg BT 214.42 375.75 Td (1, the National ) Tj ET Q q 0 0 0 rg BT 284.68 375.75 Td (Association of Regulatory Utility Commissioners and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (Nuclear Ener) Tj ET Q q 0 0 0 rg BT 110.27 361.95 Td (gy Institute challenged DOE) Tj ET Q q 0 0 0 rg BT 244.73 361.95 Td (s 2010 determination of the adequacy of the one tenth of a cent per ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (kWh fee \(the one-mill fee\) paid by the nation) Tj ET Q q 0 0 0 rg BT 271.10 348.15 Td (s commercial nuclear power plant owners pursuant to their ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td (individual obligations under the Standard Contract. ) Tj ET Q q 0 0 0 rg BT 290.75 334.35 Td (This fee is recovered by ) Tj ET Q q 0 0 0 rg BT 403.48 334.35 Td (APS in its retail rates. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.55 Td (June2012, the U.S. Court of ) Tj ET Q q 0 0 0 rg BT 183.35 320.55 Td (Appeals for the District of Columbia Circuit \(the D.C. Circuit\) held that DOE ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (failed to conduct a suf) Tj ET Q q 0 0 0 rg BT 151.48 306.75 Td (ficient fee analysis in making the 2010 determination. ) Tj ET Q q 0 0 0 rg BT 404.85 306.75 Td (The D.C. Circuit remanded the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.95 Td (2010 determination to the Secretary of the DOE \(Secretary\) with instructions to conduct a new fee adequacy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.15 Td (determination within six months. In February2013, upon completion of DOE) Tj ET Q q 0 0 0 rg BT 412.67 279.15 Td (s revised one-mill fee adequacy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.35 Td (determination, the D.C. Circuit reopened the proceedings. On November19, 2013, the D.C. Circuit ordered ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (the Secretary to notify Congress of his intent to suspend collecting annual fees for nuclear waste disposal from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (nuclear power plant operators, as he is required to do pursuant to the NWP) Tj ET Q q 0 0 0 rg BT 392.08 237.75 Td (A) Tj ET Q q 0 0 0 rg BT 399.75 237.75 Td ( and the D.C. Circuit) Tj ET Q q 0 0 0 rg BT 498.76 237.75 Td (s order) Tj ET Q q 0 0 0 rg BT 529.74 237.75 Td (. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.95 Td (January3, 2014, the Secretary notified Congress of his intention to suspend collection of the one-mill fee, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.15 Td (subject to Congress) Tj ET Q q 0 0 0 rg BT 142.55 210.15 Td ( disapproval. On May 16, 2014, the DOE notified all commercial nuclear power plant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.35 Td (operators who are party to a Standard Contract that it reduced the one-mill fee to zero, thus ef) Tj ET Q q 0 0 0 rg BT 479.76 196.35 Td (fectively ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.55 Td (terminating the one-mill fee. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 168.75 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 154.95 Td (DOE) Tj ET Q q 0 0 0 rg BT 111.48 154.95 Td (s Construction ) Tj ET Q q 0 0 0 rg BT 181.56 154.95 Td (Authorization ) Tj ET Q q 0 0 0 rg BT 247.49 154.95 Td (Application for Y) Tj ET Q q 0 0 0 rg BT 325.66 154.95 Td (ucca Mountain) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 394.96 154.95 Td ( ) Tj ET Q q 0 0 0 rg BT 412.01 154.95 Td (The DOE had planned to meet ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.15 Td (its NWP) Tj ET Q q 0 0 0 rg BT 87.74 141.15 Td (A) Tj ET Q q 0 0 0 rg BT 95.41 141.15 Td ( and Standard Contract disposal obligations by designing, licensing, constructing, and operating a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.35 Td (permanent geologic repository at ) Tj ET Q q 0 0 0 rg BT 203.64 127.35 Td (Y) Tj ET Q q 0 0 0 rg BT 210.67 127.35 Td (ucca Mountain, Nevada. In June2008, the DOE submitted its ) Tj ET Q q 0 0 0 rg BT 498.96 127.35 Td (Y) Tj ET Q q 0 0 0 rg BT 506.00 127.35 Td (ucca ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.55 Td (Mountain construction authorization application to the NRC, but in March2010, the DOE filed a motion to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.75 Td (dismiss with prejudice the ) Tj ET Q q 0 0 0 rg BT 172.37 99.75 Td (Y) Tj ET Q q 0 0 0 rg BT 179.40 99.75 Td (ucca Mountain construction authorization application. Several interested parties ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.95 Td (have also intervened in the NRC proceeding. ) Tj ET Q q 0 0 0 rg BT 261.24 85.95 Td (Additionally) Tj ET Q q 0 0 0 rg BT 318.63 85.95 Td (, a number of interested parties filed a variety of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.15 Td (lawsuits in dif) Tj ET Q q 0 0 0 rg BT 114.46 72.15 Td (ferent jurisdictions around the country challenging the DOE) Tj ET Q q 0 0 0 rg BT 393.90 72.15 Td (s authority to withdraw the ) Tj ET Q q 0 0 0 rg BT 520.28 72.15 Td (Y) Tj ET Q q 0 0 0 rg BT 527.31 72.15 Td (ucca ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.35 Td (Mountain construction authorization application and NRC) Tj ET Q q 0 0 0 rg BT 320.66 58.35 Td (s cessation of its review of the ) Tj ET Q q 0 0 0 rg BT 462.35 58.35 Td (Y) Tj ET Q q 0 0 0 rg BT 469.38 58.35 Td (ucca Mountain ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 25 0 obj <>] /Rotate 0 /Contents 26 0 R>> endobj 26 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 /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 734.55 Td (construction authorization application. ) Tj ET Q q 0 0 0 rg BT 232.29 734.55 Td (The cases have been consolidated into one matter at the D.C. Circuit. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (In ) Tj ET Q q 0 0 0 rg BT 61.32 720.75 Td (August2013, the D.C. Circuit ordered the NRC to resume its review of the application with available ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (appropriated funds.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.35 Td (On October 16, 2014, the NRC issued ) Tj ET Q q 0 0 0 rg BT 263.21 679.35 Td (V) Tj ET Q q 0 0 0 rg BT 270.03 679.35 Td (olume 3 of the safety evaluation report developed as part of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (Y) Tj ET Q q 0 0 0 rg BT 56.53 665.55 Td (ucca Mountain construction authorization application. ) Tj ET Q q 0 0 0 rg BT 310.85 665.55 Td (This volume addresses repository safety after ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (permanent closure, and its issuance is a key milestone in the ) Tj ET Q q 0 0 0 rg BT 328.84 651.75 Td (Y) Tj ET Q q 0 0 0 rg BT 335.87 651.75 Td (ucca Mountain licensing process. ) Tj ET Q q 0 0 0 rg BT 494.71 651.75 Td (V) Tj ET Q q 0 0 0 rg BT 501.53 651.75 Td (olume 3 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (contains the staf) Tj ET Q q 0 0 0 rg BT 124.02 637.95 Td (f) Tj ET Q q 0 0 0 rg BT 128.49 637.95 Td () Tj ET Q q 0 0 0 rg BT 131.68 637.95 Td (s finding that the DOE) Tj ET Q q 0 0 0 rg BT 239.00 637.95 Td (s repository design meets the requirements that apply after the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (repository is permanently closed, including but not limited to the post-closure performance objectives in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (NRC) Tj ET Q q 0 0 0 rg BT 76.34 610.35 Td (s regulations. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 582.75 Td (On December 18, 2014, the NRC issued ) Tj ET Q q 0 0 0 rg BT 273.42 582.75 Td (V) Tj ET Q q 0 0 0 rg BT 280.24 582.75 Td (olume 4 of the safety evaluation report developed as part of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (the ) Tj ET Q q 0 0 0 rg BT 66.00 568.95 Td (Y) Tj ET Q q 0 0 0 rg BT 73.03 568.95 Td (ucca Mountain construction authorization application. ) Tj ET Q q 0 0 0 rg BT 327.35 568.95 Td (This volume covers administrative and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (programmatic requirements for the repository) Tj ET Q q 0 0 0 rg BT 258.88 555.15 Td (. It documents the staf) Tj ET Q q 0 0 0 rg BT 363.43 555.15 Td (f) Tj ET Q q 0 0 0 rg BT 367.89 555.15 Td () Tj ET Q q 0 0 0 rg BT 371.09 555.15 Td (s evaluation of whether the DOE) Tj ET Q q 0 0 0 rg BT 525.34 555.15 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.35 Td (research and development and performance confirmation programs, as well as other administrative controls ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (and systems, meet applicable NRC requirements. ) Tj ET Q q 0 0 0 rg BT 281.48 527.55 Td (V) Tj ET Q q 0 0 0 rg BT 288.30 527.55 Td (olume 4 contains the staf) Tj ET Q q 0 0 0 rg BT 403.07 527.55 Td (f) Tj ET Q q 0 0 0 rg BT 407.53 527.55 Td () Tj ET Q q 0 0 0 rg BT 410.73 527.55 Td (s finding that most ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (administrative and programmatic requirements in NRC regulations are met, except for certain requirements ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (relating to ownership of land and water rights.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 472.35 Td (Publication of ) Tj ET Q q 0 0 0 rg BT 153.01 472.35 Td (V) Tj ET Q q 0 0 0 rg BT 159.83 472.35 Td (olumes 3 and 4 does not signal whether or when the NRC might authorize construction ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (of the repository) Tj ET Q q 0 0 0 rg BT 124.76 458.55 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 444.75 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 430.95 Td (W) Tj ET Q q 0 0 0 rg BT 94.02 430.95 Td (aste Confidence) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 167.80 430.95 Td ( On June8, 2012, the D.C. Circuit issued its decision on a challenge by several ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.15 Td (states and environmental groups of the NRC) Tj ET Q q 0 0 0 rg BT 257.11 417.15 Td (s rulemaking regarding temporary storage and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (permanent disposal of high level nuclear waste and spent nuclear fuel. ) Tj ET Q q 0 0 0 rg BT 377.89 403.35 Td (The petitioners had challenged the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (NRC) Tj ET Q q 0 0 0 rg BT 76.34 389.55 Td (s 2010 update to the agency) Tj ET Q q 0 0 0 rg BT 207.60 389.55 Td (s ) Tj ET Q q 0 0 0 rg BT 214.74 389.55 Td (W) Tj ET Q q 0 0 0 rg BT 224.68 389.55 Td (aste Confidence Decision and temporary storage rule\(W) Tj ET Q q 0 0 0 rg BT 490.39 389.55 Td (aste ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.75 Td (Confidence Decision\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 361.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 348.15 Td (The D.C. Circuit found that the agency) Tj ET Q q 0 0 0 rg BT 268.18 348.15 Td (s 2010 ) Tj ET Q q 0 0 0 rg BT 301.20 348.15 Td (W) Tj ET Q q 0 0 0 rg BT 311.13 348.15 Td (aste Confidence Decision update constituted a major ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td (federal action, which, consistent with the National Environmental Policy ) Tj ET Q q 0 0 0 rg BT 386.44 334.35 Td (Act \(NEP) Tj ET Q q 0 0 0 rg BT 435.53 334.35 Td (A\), requires either an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.55 Td (environmental impact statement or a finding of no significant impact from the agency) Tj ET Q q 0 0 0 rg BT 446.78 320.55 Td (s actions. ) Tj ET Q q 0 0 0 rg BT 495.12 320.55 Td (The D.C. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (Circuit found that the NRC) Tj ET Q q 0 0 0 rg BT 177.91 306.75 Td (s evaluation of the environmental risks from spent nuclear fuel was deficient, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.95 Td (therefore remanded the 2010 ) Tj ET Q q 0 0 0 rg BT 184.68 292.95 Td (W) Tj ET Q q 0 0 0 rg BT 194.61 292.95 Td (aste Confidence Decision update for further action consistent with NEP) Tj ET Q q 0 0 0 rg BT 522.82 292.95 Td (A.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 279.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.35 Td (On September6, 2012, the NRC Commissioners issued a directive to the NRC staf) Tj ET Q q 0 0 0 rg BT 466.99 265.35 Td (f to proceed directly ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (with development of a generic environmental impact statement to support an updated ) Tj ET Q q 0 0 0 rg BT 444.65 251.55 Td (W) Tj ET Q q 0 0 0 rg BT 454.59 251.55 Td (aste Confidence ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (Decision. ) Tj ET Q q 0 0 0 rg BT 98.80 237.75 Td (The NRC Commissioners also directed the staf) Tj ET Q q 0 0 0 rg BT 315.14 237.75 Td (f to establish a schedule to publish a final ruleand ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.95 Td (environmental impact study within 24 months of September6, 2012. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.35 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 196.35 Td (In September 2013, the NRC issued its draft Generic Environmental Impact Statement \(GEIS\) to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.55 Td (support an updated ) Tj ET Q q 0 0 0 rg BT 139.68 182.55 Td (W) Tj ET Q q 0 0 0 rg BT 149.61 182.55 Td (aste Confidence Decision. On ) Tj ET Q q 0 0 0 rg BT 292.05 182.55 Td (August 26, 2014, the NRC approved a final rule on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.75 Td (environmental ef) Tj ET Q q 0 0 0 rg BT 127.53 168.75 Td (fects of continued storage of spent nuclear fuel. ) Tj ET Q q 0 0 0 rg BT 351.49 168.75 Td (The continued storage rule adopted the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 154.95 Td (findings of the GEIS regarding the environmental impacts of storing spent fuel at any reactor site after the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.15 Td (reactor) Tj ET Q q 0 0 0 rg BT 81.84 141.15 Td () Tj ET Q q 0 0 0 rg BT 85.04 141.15 Td (s licensed period of operations. ) Tj ET Q q 0 0 0 rg BT 233.55 141.15 Td (As a result, those generic impacts do not need to be re-analyzed in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.35 Td (environmental reviews for individual licenses. ) Tj ET Q q 0 0 0 rg BT 267.63 127.35 Td (Although Palo ) Tj ET Q q 0 0 0 rg BT 337.06 127.35 Td (V) Tj ET Q q 0 0 0 rg BT 344.09 127.35 Td (erde had not been involved in any licensing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.55 Td (actions af) Tj ET Q q 0 0 0 rg BT 93.68 113.55 Td (fected by the D.C. Circuit) Tj ET Q q 0 0 0 rg BT 215.68 113.55 Td (s June 8, 2012, decision, the NRC lifted its suspension on final licensing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.75 Td (actions on all nuclear power plant licenses and renewals that went into ef) Tj ET Q q 0 0 0 rg BT 385.24 99.75 Td (fect when the D.C. Circuit issued its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.95 Td (June 2012 decision. ) Tj ET Q q 0 0 0 rg BT 146.07 85.95 Td (The ) Tj ET Q q 0 0 0 rg BT 166.19 85.95 Td (August 26th final rule has been subject to continuing legal challenges before the NRC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.15 Td (and the Court of ) Tj ET Q q 0 0 0 rg BT 126.79 72.15 Td (Appeals.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 27 0 obj <>] /Rotate 0 /Contents 28 0 R>> endobj 28 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 /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 734.55 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 734.55 Td (Palo ) Tj ET Q q 0 0 0 rg BT 108.61 734.55 Td (V) Tj ET Q q 0 0 0 rg BT 115.64 734.55 Td (erde has suf) Tj ET Q q 0 0 0 rg BT 170.36 734.55 Td (ficient capacity at its on-site independent spent fuel storage installation \(ISFSI\) to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (store all of the nuclear fuel that will be irradiated during the initial operating license period, which ends in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (December2027. ) Tj ET Q q 0 0 0 rg BT 130.61 706.95 Td (Additionally) Tj ET Q q 0 0 0 rg BT 188.00 706.95 Td (, Palo ) Tj ET Q q 0 0 0 rg BT 216.87 706.95 Td (V) Tj ET Q q 0 0 0 rg BT 223.90 706.95 Td (erde has suf) Tj ET Q q 0 0 0 rg BT 278.61 706.95 Td (ficient capacity at its on-site ISFSI to store a portion of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (fuel that will be irradiated during the period of extended operation, which ends in November2047. If ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (uncertainties regarding the United States government) Tj ET Q q 0 0 0 rg BT 297.64 679.35 Td (s obligation to accept and store spent fuel are not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (favorably resolved, ) Tj ET Q q 0 0 0 rg BT 140.51 665.55 Td (APS will evaluate alternative storage solutions that may obviate the need to expand the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (ISFSI to accommodate all of the fuel that will be irradiated during the period of extended operation.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 637.95 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 624.15 Td (Nuclear Decommissioning Costs) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 236.28 624.15 Td ( ) Tj ET Q q 0 0 0 rg BT 252.89 624.15 Td (APS currently relies on an external sinking fund mechanism to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (meet the NRC financial assurance requirements for decommissioning its interests in Palo ) Tj ET Q q 0 0 0 rg BT 461.93 610.35 Td (V) Tj ET Q q 0 0 0 rg BT 468.96 610.35 Td (erde Units 1, 2 and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (3. ) Tj ET Q q 0 0 0 rg BT 63.67 596.55 Td (The decommissioning costs of Palo ) Tj ET Q q 0 0 0 rg BT 229.88 596.55 Td (V) Tj ET Q q 0 0 0 rg BT 236.91 596.55 Td (erde Units 1, 2 and 3 are currently included in ) Tj ET Q q 0 0 0 rg BT 450.56 596.55 Td (APS) Tj ET Q q 0 0 0 rg BT 474.85 596.55 Td (s ) Tj ET Q q 0 0 0 rg BT 481.56 596.55 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (jurisdictional rates. Decommissioning costs are recoverable through a non-bypassable system benefits char) Tj ET Q q 0 0 0 rg BT 543.98 582.75 Td (ge ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (\(paid by all retail customers taking service from the ) Tj ET Q q 0 0 0 rg BT 289.33 568.95 Td (APS system\). See Note 19 for additional information ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (about ) Tj ET Q q 0 0 0 rg BT 77.29 555.15 Td (APS) Tj ET Q q 0 0 0 rg BT 101.58 555.15 Td (s nuclear decommissioning trusts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 541.35 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 527.55 Td (Palo V) Tj ET Q q 0 0 0 rg BT 115.85 527.55 Td (er) Tj ET Q q 0 0 0 rg BT 125.00 527.55 Td (de Liability and Insurance Matters) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 285.35 527.55 Td ( See Palo ) Tj ET Q q 0 0 0 rg BT 350.29 527.55 Td (V) Tj ET Q q 0 0 0 rg BT 357.32 527.55 Td (erde Nuclear Generating Station Nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (Insurance in Note 10 for a discussion of the insurance maintained by the Palo ) Tj ET Q q 0 0 0 rg BT 413.36 513.75 Td (V) Tj ET Q q 0 0 0 rg BT 420.40 513.75 Td (erde participants, including ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (APS, for Palo ) Tj ET Q q 0 0 0 rg BT 115.74 499.95 Td (V) Tj ET Q q 0 0 0 rg BT 122.77 499.95 Td (erde.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 486.15 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 472.35 Td (Impact of Earthquake and T) Tj ET Q q 0 0 0 rg BT 214.13 472.35 Td (sunami in Japan on Nuclear Ener) Tj ET Q q 0 0 0 rg BT 369.25 472.35 Td (gy Industry) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 421.31 472.35 Td ( On March1) Tj ET Q q 0 0 0 rg BT 493.71 472.35 Td (1, 201) Tj ET Q q 0 0 0 rg BT 522.03 472.35 Td (1, an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (earthquake measuring 9.0 on the Richter Scale occurred of) Tj ET Q q 0 0 0 rg BT 319.12 458.55 Td (f the coast of Japan causing a series of seven ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (tsunamis. ) Tj ET Q q 0 0 0 rg BT 98.38 444.75 Td (As a result, the Fukushima Daiichi Nuclear Power Station experienced damage.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 417.15 Td (Following the earthquake and tsunamis, the NRC established a task force to conduct a systematic and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (methodical review of NRC processes and regulations to determine whether the agency should make additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (improvements to its regulatory system. On March12, 2012, the NRC issued the first regulatory requirements ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.75 Td (based on the recommendations of the Near ) Tj ET Q q 0 0 0 rg BT 248.88 375.75 Td (T) Tj ET Q q 0 0 0 rg BT 255.10 375.75 Td (erm ) Tj ET Q q 0 0 0 rg BT 275.65 375.75 Td (T) Tj ET Q q 0 0 0 rg BT 281.87 375.75 Td (ask Force. ) Tj ET Q q 0 0 0 rg BT 334.68 375.75 Td (W) Tj ET Q q 0 0 0 rg BT 345.07 375.75 Td (ith respect to Palo ) Tj ET Q q 0 0 0 rg BT 430.46 375.75 Td (V) Tj ET Q q 0 0 0 rg BT 437.49 375.75 Td (erde, the NRC issued two ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (orders requiring safety enhancements regarding: \(1\)mitigation strategies to respond to extreme natural events ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (resulting in the loss of power at the plant; and \(2\)enhancement of spent fuel pool instrumentation.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 320.55 Td (The NRC has issued a number of guidance documents regarding implementation of these requirements. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (Due to the developing nature of these requirements, we cannot predict the ultimate financial or operational ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.95 Td (impacts on Palo ) Tj ET Q q 0 0 0 rg BT 125.63 292.95 Td (V) Tj ET Q q 0 0 0 rg BT 132.66 292.95 Td (erde or ) Tj ET Q q 0 0 0 rg BT 167.15 292.95 Td (APS. However) Tj ET Q q 0 0 0 rg BT 238.56 292.95 Td (, to implement these recommendations, Palo ) Tj ET Q q 0 0 0 rg BT 445.31 292.95 Td (V) Tj ET Q q 0 0 0 rg BT 452.34 292.95 Td (erde expects to spend ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.15 Td (approximately $40 million for capital enhancements to the plant over the next two years in addition to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.35 Td (approximate $80 million that has already been spent on capital enhancements as of December 31, 2014 \(APS) Tj ET Q q 0 0 0 rg BT 555.05 265.35 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (share is 29.1%\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 223.95 Td (Natural Gas and Oil Fueled Generating Facilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 204.15 Td () Tj ET Q q 0 0 0 rg BT 87.74 204.15 Td (APS has six natural gas power plants located throughout ) Tj ET Q q 0 0 0 rg BT 349.97 204.15 Td (Arizona, consisting of Redhawk, located near ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 190.35 Td (Palo ) Tj ET Q q 0 0 0 rg BT 72.61 190.35 Td (V) Tj ET Q q 0 0 0 rg BT 79.64 190.35 Td (erde; Ocotillo, located in ) Tj ET Q q 0 0 0 rg BT 196.64 190.35 Td (T) Tj ET Q q 0 0 0 rg BT 202.86 190.35 Td (empe \(discussed below\); Sundance, located in Coolidge; ) Tj ET Q q 0 0 0 rg BT 465.81 190.35 Td (W) Tj ET Q q 0 0 0 rg BT 475.75 190.35 Td (est Phoenix, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 176.55 Td (located in southwest Phoenix; Saguaro, located north of ) Tj ET Q q 0 0 0 rg BT 308.95 176.55 Td (T) Tj ET Q q 0 0 0 rg BT 315.57 176.55 Td (ucson; and ) Tj ET Q q 0 0 0 rg BT 367.53 176.55 Td (Y) Tj ET Q q 0 0 0 rg BT 374.56 176.55 Td (ucca, located near ) Tj ET Q q 0 0 0 rg BT 459.69 176.55 Td (Y) Tj ET Q q 0 0 0 rg BT 466.72 176.55 Td (uma. Several of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 162.75 Td (units at ) Tj ET Q q 0 0 0 rg BT 85.49 162.75 Td (Y) Tj ET Q q 0 0 0 rg BT 92.52 162.75 Td (ucca run on either gas or oil. ) Tj ET Q q 0 0 0 rg BT 228.88 162.75 Td (APS has one oil-only power plant, Douglas, located in the town of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 148.95 Td (Douglas, ) Tj ET Q q 0 0 0 rg BT 92.95 148.95 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 137.98 148.95 Td (APS owns and operates each of these plants with the exception of one oil-only combustion ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 135.15 Td (turbine unit and one oil and gas steam unit at ) Tj ET Q q 0 0 0 rg BT 258.59 135.15 Td (Y) Tj ET Q q 0 0 0 rg BT 265.62 135.15 Td (ucca that are operated by ) Tj ET Q q 0 0 0 rg BT 382.79 135.15 Td (APS and owned by the Imperial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 121.35 Td (Irrigation District. ) Tj ET Q q 0 0 0 rg BT 138.29 121.35 Td (APS has a total entitlement from these plants of 3,179 MW) Tj ET Q q 0 0 0 rg BT 409.68 121.35 Td (. Gas for these plants is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 107.55 Td (financially hedged up to three years in advance of purchasing and the gas is generally purchased one month ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 93.75 Td (prior to delivery) Tj ET Q q 0 0 0 rg BT 123.48 93.75 Td (. ) Tj ET Q q 0 0 0 rg BT 131.47 93.75 Td (APS has long-term gas transportation agreements with three dif) Tj ET Q q 0 0 0 rg BT 423.82 93.75 Td (ferent companies, some of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 79.95 Td (which are ef) Tj ET Q q 0 0 0 rg BT 106.12 79.95 Td (fective through 2024. Fuel oil is acquired under short-term purchases delivered primarily to ) Tj ET Q q 0 0 0 rg BT 532.90 79.95 Td (W) Tj ET Q q 0 0 0 rg BT 542.83 79.95 Td (est ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 66.15 Td (Phoenix, where it is distributed to ) Tj ET Q q 0 0 0 rg BT 206.98 66.15 Td (APS) Tj ET Q q 0 0 0 rg BT 231.27 66.15 Td (s other oil power plants by truck.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 52.35 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 29 0 obj <>] /Rotate 0 /Contents 30 0 R>> endobj 30 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.45 32.55 Td (1) Tj ET Q q 0 0 0 rg BT 305.77 32.55 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 734.55 Td (Ocotillo is a 330 MW) Tj ET Q q 0 0 0 rg BT 185.59 734.55 Td ( 4-unit gas plant. In early 2014, ) Tj ET Q q 0 0 0 rg BT 335.06 734.55 Td (APS announced a project to modernize the plant, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (which involves retiring two older 1) Tj ET Q q 0 0 0 rg BT 211.00 720.75 Td (10 MW) Tj ET Q q 0 0 0 rg BT 246.25 720.75 Td ( steam units, adding five 102 MW) Tj ET Q q 0 0 0 rg BT 402.87 720.75 Td ( combustion turbines and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (maintaining two existing 55 MW) Tj ET Q q 0 0 0 rg BT 201.97 706.95 Td ( combustion turbines. In total, this increases the capacity of the site by 290 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (MW) Tj ET Q q 0 0 0 rg BT 69.52 693.15 Td (, to 620 MW) Tj ET Q q 0 0 0 rg BT 127.24 693.15 Td (, with completion tar) Tj ET Q q 0 0 0 rg BT 222.85 693.15 Td (geted for summer 2018. ) Tj ET Q q 0 0 0 rg BT 338.26 693.15 Td (The last milestone before construction begins ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (was raised during the ) Tj ET Q q 0 0 0 rg BT 149.79 679.35 Td (ACC's Integrated Resource Planning meeting in the fall of 2014. ) Tj ET Q q 0 0 0 rg BT 452.51 679.35 Td (While there was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (support for the first 2 units which replace the existing steam units, questions were raised on the cost ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 651.75 Td (fectiveness for the additional three units. ) Tj ET Q q 0 0 0 rg BT 250.91 651.75 Td (T) Tj ET Q q 0 0 0 rg BT 257.13 651.75 Td (o address these matters, ) Tj ET Q q 0 0 0 rg BT 368.59 651.75 Td (APS issued a request for proposal in late ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (January 2015 for the incremental capacity) Tj ET Q q 0 0 0 rg BT 241.94 637.95 Td (, equivalent to 3 of the 5 units.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 610.35 Td (Solar) Tj ET Q q 0 0 0 rg BT 111.49 610.35 Td ( Facilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 590.55 Td () Tj ET Q q 0 0 0 rg BT 88.17 590.55 Td (T) Tj ET Q q 0 0 0 rg BT 94.39 590.55 Td (o date, ) Tj ET Q q 0 0 0 rg BT 127.28 590.55 Td (APS has begun operation of 150 MW) Tj ET Q q 0 0 0 rg BT 300.20 590.55 Td ( of utility scale solar through its ) Tj ET Q q 0 0 0 rg BT 448.72 590.55 Td (AZ Sun Program, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 576.75 Td (discussed below) Tj ET Q q 0 0 0 rg BT 123.81 576.75 Td (. ) Tj ET Q q 0 0 0 rg BT 132.23 576.75 Td (These facilities are owned by ) Tj ET Q q 0 0 0 rg BT 269.23 576.75 Td (APS and are located in multiple locations throughout ) Tj ET Q q 0 0 0 rg BT 515.80 576.75 Td (Arizona.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 562.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 549.15 Td (Additionally) Tj ET Q q 0 0 0 rg BT 142.89 549.15 Td (, ) Tj ET Q q 0 0 0 rg BT 148.01 549.15 Td (APS owns and operates more than forty small solar systems around the state. ) Tj ET Q q 0 0 0 rg BT 507.75 549.15 Td (T) Tj ET Q q 0 0 0 rg BT 513.98 549.15 Td (ogether ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 535.35 Td (they have the capacity to produce approximately 4 MW) Tj ET Q q 0 0 0 rg BT 305.40 535.35 Td ( of renewable ener) Tj ET Q q 0 0 0 rg BT 390.43 535.35 Td (gy) Tj ET Q q 0 0 0 rg BT 401.18 535.35 Td (. ) Tj ET Q q 0 0 0 rg BT 409.60 535.35 Td (This fleet of solar systems ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 521.55 Td (includes a 3 MW) Tj ET Q q 0 0 0 rg BT 128.18 521.55 Td ( facility located at the Prescott ) Tj ET Q q 0 0 0 rg BT 269.97 521.55 Td (Airport and 1 MW) Tj ET Q q 0 0 0 rg BT 355.67 521.55 Td ( of small solar in various locations across ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 507.75 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 94.53 507.75 Td (APS has also developed solar photovoltaic distributed ener) Tj ET Q q 0 0 0 rg BT 365.48 507.75 Td (gy systems installed as part of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 493.95 Td (Community Power Project in Flagstaf) Tj ET Q q 0 0 0 rg BT 223.70 493.95 Td (f, ) Tj ET Q q 0 0 0 rg BT 232.65 493.95 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 278.10 493.95 Td (The Community Power Project, approved by the ) Tj ET Q q 0 0 0 rg BT 503.60 493.95 Td (ACC on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 480.15 Td (April1, 2010, is a pilot program through which ) Tj ET Q q 0 0 0 rg BT 270.22 480.15 Td (APS owns, operates and receives ener) Tj ET Q q 0 0 0 rg BT 445.01 480.15 Td (gy from approximately 1 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 466.35 Td (MW) Tj ET Q q 0 0 0 rg BT 70.37 466.35 Td ( of solar photovoltaic distributed ener) Tj ET Q q 0 0 0 rg BT 242.94 466.35 Td (gy systems located within a certain test area in Flagstaf) Tj ET Q q 0 0 0 rg BT 496.63 466.35 Td (f, ) Tj ET Q q 0 0 0 rg BT 505.57 466.35 Td (Arizona. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 452.55 Td (Additionally) Tj ET Q q 0 0 0 rg BT 106.89 452.55 Td (, ) Tj ET Q q 0 0 0 rg BT 112.01 452.55 Td (APS owns 12 MW) Tj ET Q q 0 0 0 rg BT 198.38 452.55 Td ( of solar photovoltaic systems installed across ) Tj ET Q q 0 0 0 rg BT 411.42 452.55 Td (Arizona through the ) Tj ET Q q 0 0 0 rg BT 506.28 452.55 Td (ACC-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 438.75 Td (approved Schools and Government Program.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 411.15 Td (In December 2014, the ) Tj ET Q q 0 0 0 rg BT 193.12 411.15 Td (ACC voted that it had no objection to ) Tj ET Q q 0 0 0 rg BT 368.16 411.15 Td (APS implementing a 10 MWdc ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 397.35 Td (\(approximately 8.5 MW) Tj ET Q q 0 0 0 rg BT 160.04 397.35 Td (ac\) residential rooftop program. ) Tj ET Q q 0 0 0 rg BT 311.83 397.35 Td (The first stage of the residential rooftop solar program ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 383.55 Td (is to be 8 MW) Tj ET Q q 0 0 0 rg BT 115.09 383.55 Td ( followed by a 2 MW) Tj ET Q q 0 0 0 rg BT 213.57 383.55 Td ( second stage that will only be deployed if coupled with distributed storage. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 369.75 Td (Under this program, ) Tj ET Q q 0 0 0 rg BT 144.68 369.75 Td (APS will own, operate and maintain approximately 1,500 residential systems. ) Tj ET Q q 0 0 0 rg BT 507.95 369.75 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 355.95 Td (program will tar) Tj ET Q q 0 0 0 rg BT 124.02 355.95 Td (get specific distribution feeders in an ef) Tj ET Q q 0 0 0 rg BT 305.84 355.95 Td (fort to maximize potential system benefits, as well as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 342.15 Td (make systems available to limited-income customers who cannot easily install solar through transactions with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 328.35 Td (third parties.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 314.55 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 85.5 298.9503173828125 m 222.419921875 298.9503173828125 l s q 0 0 0 rg BT 85.50 300.75 Td (Pur) Tj ET Q q 0 0 0 rg BT 103.82 300.75 Td (chased Power) Tj ET Q q 0 0 0 rg BT 171.00 300.75 Td ( Contracts) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 280.95 Td (In addition to its own available generating capacity) Tj ET Q q 0 0 0 rg BT 320.11 280.95 Td (, ) Tj ET Q q 0 0 0 rg BT 325.23 280.95 Td (APS purchases electricity under various ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 267.15 Td (arrangements, including long-term contracts and purchases through short-term markets to supplement its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 253.35 Td (owned or leased generation and hedge its ener) Tj ET Q q 0 0 0 rg BT 261.64 253.35 Td (gy requirements. ) Tj ET Q q 0 0 0 rg BT 344.04 253.35 Td (A) Tj ET Q q 0 0 0 rg BT 351.71 253.35 Td ( portion of ) Tj ET Q q 0 0 0 rg BT 402.50 253.35 Td (APS) Tj ET Q q 0 0 0 rg BT 426.80 253.35 Td (s purchased power expense ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 239.55 Td (is netted against wholesale sales on the Consolidated Statements of Income. \(See Note 16.\) ) Tj ET Q q 0 0 0 rg BT 476.19 239.55 Td (APS continually ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 225.75 Td (assesses its need for additional capacity resources to assure system reliability) Tj ET Q q 0 0 0 rg BT 403.24 225.75 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 211.95 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 198.15 Td (Pur) Tj ET Q q 0 0 0 rg BT 102.32 198.15 Td (chased Power Capacity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.65 198.15 Td ( ) Tj ET Q q 0 0 0 rg BT 226.90 198.15 Td (APS) Tj ET Q q 0 0 0 rg BT 251.19 198.15 Td (s purchased power capacity under long-term contracts, including ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 184.35 Td (its renewable ener) Tj ET Q q 0 0 0 rg BT 132.95 184.35 Td (gy portfolio, is summarized in the table below) Tj ET Q q 0 0 0 rg BT 344.27 184.35 Td (. ) Tj ET Q q 0 0 0 rg BT 352.26 184.35 Td (All capacity values are based on net capacity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 170.55 Td (unless otherwise noted.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 31 0 obj <>] /Rotate 0 /Contents 32 0 R>> endobj 32 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (12) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 729.00 152.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 202.00 729.00 10.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 729.00 257.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 729.00 10.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 729.00 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 699.00 152.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 202.00 699.00 10.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 699.00 257.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 699.00 10.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 699.00 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 669.00 152.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 202.00 669.00 10.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 669.00 257.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 669.00 10.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 669.00 84.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 635.00 152.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 202.00 635.00 10.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 635.00 257.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 635.00 10.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 635.00 84.00 -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 50 729 m 202 729 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 729 m 469 729 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 729 m 563 729 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 733.23 Td (Type) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 206.50 731.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 313.70 733.23 Td (DatesAvailable) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 473.50 731.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.70 733.23 Td (Capacity\(MW\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 719.57 Td (Purchase Agreement \(a\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 204.50 716.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.55 719.57 Td (Year-round through June14, 2020) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 471.50 716.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 719.57 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 704.57 Td (Exchange Agreement \(b\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 204.50 701.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.00 704.57 Td (May15 to September15 annually through 2020) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 471.50 701.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 704.57 Td (480) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 689.57 Td (Tolling Agreement) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 204.50 686.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.05 689.57 Td (Year-round through May2017) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 471.50 686.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 689.57 Td (514) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 674.57 Td (Tolling Agreement) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 204.50 671.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.10 674.57 Td (Summer seasons through October2019) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 471.50 671.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 674.57 Td (560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 659.57 Td (Day-Ahead Call Option Agreement) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 204.50 653.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.80 659.57 Td (Summer seasons through September2015) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 471.50 653.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 659.57 Td (500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 641.57 Td (Day-Ahead Call Option Agreement) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 204.50 637.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.10 641.57 Td (Summer seasons through summer 2016) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 471.50 637.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 641.57 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 625.57 Td (Demand Response Agreement \(c\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 204.50 621.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.45 625.57 Td (Summer seasons through 2024) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 471.50 621.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 625.57 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 609.57 Td (Renewable Energy \(d\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 204.50 606.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.70 609.57 Td (Various) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 471.50 606.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 609.57 Td (629) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 576.90 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 576.90 Td (Up to 60 MW) Tj ET Q q 0 0 0 rg BT 185.50 576.90 Td ( of capacity is available; however) Tj ET Q q 0 0 0 rg BT 339.26 576.90 Td (, the amount of electricity available to ) Tj ET Q q 0 0 0 rg BT 516.18 576.90 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 563.10 Td (under this agreement is based in lar) Tj ET Q q 0 0 0 rg BT 284.16 563.10 Td (ge part on customer demand and is adjusted annually) Tj ET Q q 0 0 0 rg BT 527.41 563.10 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 549.30 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 549.30 Td (This is a seasonal capacity exchange agreement under which ) Tj ET Q q 0 0 0 rg BT 402.83 549.30 Td (APS receives electricity during ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 535.50 Td (the summer peak season \(from May15 to September15\) and ) Tj ET Q q 0 0 0 rg BT 404.78 535.50 Td (APS returns a like amount of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 521.70 Td (electricity during the winter season \(from October15 to February15\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 507.90 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 507.90 Td (The capacity under this agreement may be increased in 5 MW) Tj ET Q q 0 0 0 rg BT 406.77 507.90 Td ( increments in each of 2015 and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 494.10 Td (2016 and 10 MW) Tj ET Q q 0 0 0 rg BT 202.10 494.10 Td ( increments in years 2017 through 2024, up to a maximum of 50 MW) Tj ET Q q 0 0 0 rg BT 521.08 494.10 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 480.30 Td (\(d\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 480.30 Td (Renewable ener) Tj ET Q q 0 0 0 rg BT 195.04 480.30 Td (gy purchased power agreements are described in detail below under Current ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 466.50 Td (and Future Resources Renewable Ener) Tj ET Q q 0 0 0 rg BT 313.86 466.50 Td (gy Standard Renewable Ener) Tj ET Q q 0 0 0 rg BT 461.83 466.50 Td (gy Portfolio.) 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 85.5 441.9003173828125 m 235.958984375 441.9003173828125 l s q 0 0 0 rg BT 85.50 443.70 Td (Curr) Tj ET Q q 0 0 0 rg BT 110.20 443.70 Td (ent and Futur) Tj ET Q q 0 0 0 rg BT 178.37 443.70 Td (e Resour) Tj ET Q q 0 0 0 rg BT 221.27 443.70 Td (ces) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 429.90 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 416.10 Td (Curr) Tj ET Q q 0 0 0 rg BT 110.20 416.10 Td (ent Demand and Reserve Margin) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.30 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 396.30 Td (Electric power demand is generally seasonal. In ) Tj ET Q q 0 0 0 rg BT 310.63 396.30 Td (Arizona, demand for power peaks during the hot ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.50 Td (summer months. ) Tj ET Q q 0 0 0 rg BT 131.28 382.50 Td (APS) Tj ET Q q 0 0 0 rg BT 155.57 382.50 Td (s 2014 peak one-hour demand on its electric system was recorded on July 23, 2014 at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.70 Td (7,007 MW) Tj ET Q q 0 0 0 rg BT 98.27 368.70 Td (, compared to the 2013 peak of 6,927 MW) Tj ET Q q 0 0 0 rg BT 293.52 368.70 Td ( recorded on July8, 2013. ) Tj ET Q q 0 0 0 rg BT 418.40 368.70 Td (APS) Tj ET Q q 0 0 0 rg BT 442.70 368.70 Td (s reserve mar) Tj ET Q q 0 0 0 rg BT 503.79 368.70 Td (gin at the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.90 Td (time of the 2014 peak demand, calculated using system load serving capacity) Tj ET Q q 0 0 0 rg BT 403.88 354.90 Td (, was 34%. Excluding certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (contractual rights to call on additional capacity on short notice, which ) Tj ET Q q 0 0 0 rg BT 372.69 341.10 Td (APS may use in the event of unusual ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.30 Td (weather or unplanned outages, the 2014 reserve mar) Tj ET Q q 0 0 0 rg BT 289.43 327.30 Td (gin was 24%. ) Tj ET Q q 0 0 0 rg BT 356.83 327.30 Td (APS anticipates the reserve mar) Tj ET Q q 0 0 0 rg BT 503.52 327.30 Td (gin for 2015 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.50 Td (will be approximately 33% or 23% excluding contractual rights to call on additional capacity) Tj ET Q q 0 0 0 rg BT 477.01 313.50 Td (. ) Tj ET Q q 0 0 0 rg BT 485.00 313.50 Td (APS expects ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.70 Td (that our reserve mar) Tj ET Q q 0 0 0 rg BT 141.57 299.70 Td (gins will decrease over the next three years and that additional conventional resources will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.90 Td (be needed around 2017.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 272.10 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 258.30 Td (Futur) Tj ET Q q 0 0 0 rg BT 114.04 258.30 Td (e Resour) Tj ET Q q 0 0 0 rg BT 156.95 258.30 Td (ces and Resour) Tj ET Q q 0 0 0 rg BT 230.85 258.30 Td (ce Plan) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.50 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 238.50 Td (Under the ) Tj ET Q q 0 0 0 rg BT 133.40 238.50 Td (ACC) Tj ET Q q 0 0 0 rg BT 160.25 238.50 Td (s resource planning rule, ) Tj ET Q q 0 0 0 rg BT 275.54 238.50 Td (APS will file by ) Tj ET Q q 0 0 0 rg BT 352.21 238.50 Td (April1 of each even-numbered year its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.70 Td (resource plans for the next fifteen-year period. ) Tj ET Q q 0 0 0 rg BT 268.66 224.70 Td (The rulerequires the ) Tj ET Q q 0 0 0 rg BT 366.37 224.70 Td (ACC to issue an order with its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.90 Td (acknowledgment of ) Tj ET Q q 0 0 0 rg BT 142.75 210.90 Td (APS) Tj ET Q q 0 0 0 rg BT 167.05 210.90 Td (s resource plan within approximately ten months following its submittal. ) Tj ET Q q 0 0 0 rg BT 506.69 210.90 Td (The ) Tj ET Q q 0 0 0 rg BT 526.81 210.90 Td (ACC) Tj ET Q q 0 0 0 rg BT 553.65 210.90 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (acknowledgment of ) Tj ET Q q 0 0 0 rg BT 142.75 197.10 Td (APS) Tj ET Q q 0 0 0 rg BT 167.05 197.10 Td (s resource plan will consider factors such as the total cost of electric ener) Tj ET Q q 0 0 0 rg BT 502.46 197.10 Td (gy services, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 183.30 Td (demand management, analysis of supply-side options, system reliability and risk management. ) Tj ET Q q 0 0 0 rg BT 489.94 183.30 Td (APS filed its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.50 Td (2014 resource plan on ) Tj ET Q q 0 0 0 rg BT 153.61 169.50 Td (April 1, 2014 and it will be filing its next resource plan by ) Tj ET Q q 0 0 0 rg BT 423.83 169.50 Td (April1, 2016. ) Tj ET Q q 0 0 0 rg BT 493.89 169.50 Td (The ) Tj ET Q q 0 0 0 rg BT 514.01 169.50 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 556.93 169.50 Td (f ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.70 Td (is exploring potential ways to improve the resource plan process. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 128.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 128.10 Td (After considering the costs to comply with environmental regulations, on September 1) Tj ET Q q 0 0 0 rg BT 482.38 128.10 Td (1, 2014, ) Tj ET Q q 0 0 0 rg BT 522.00 128.10 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 114.35 Td (announced that it will close Cholla Unit 2 by ) Tj ET Q q 0 0 0 rg BT 258.07 114.35 Td (April 2016 and cease burning coal at the other ) Tj ET Q q 0 0 0 rg BT 472.99 114.35 Td (APS-owned units ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.55 Td (\(Units 1 and 3\) at the plant by the mid-2020s, if EP) Tj ET Q q 0 0 0 rg BT 284.17 100.55 Td (A) Tj ET Q q 0 0 0 rg BT 291.84 100.55 Td ( approves a compromise proposal of) Tj ET Q q 0 0 0 rg BT 458.66 100.55 Td (fered by ) Tj ET Q q 0 0 0 rg BT 498.89 100.55 Td (APS to meet ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.75 Td (required environmental and emissions standards and rules. ) Tj ET Q q 0 0 0 rg BT 323.84 86.75 Td (APS filed an amendment to its resource plan with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.95 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 72.95 Td (ACC to request approval of the retirement of Cholla Unit 2. ) Tj ET Q q 0 0 0 rg BT 346.32 72.95 Td (The ) Tj ET Q q 0 0 0 rg BT 366.44 72.95 Td (ACC has not yet made a decision on this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 59.15 Td (amendment. Previously) Tj ET Q q 0 0 0 rg BT 160.22 59.15 Td (, ) Tj ET Q q 0 0 0 rg BT 165.34 59.15 Td (APS estimated Cholla Unit 2) Tj ET Q q 0 0 0 rg BT 302.06 59.15 Td (s end of life to be 2033. ) Tj ET Q q 0 0 0 rg BT 416.09 59.15 Td (APS is currently recovering ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 33 0 obj <>] /Rotate 0 /Contents 34 0 R>> endobj 34 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (13) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 734.55 Td (depreciation and a return on the net book value of the unit in base rates and plans to seek recovery of all of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (unit) Tj ET Q q 0 0 0 rg BT 70.59 720.75 Td (s retirement-related costs in its next retail rate case. If ) Tj ET Q q 0 0 0 rg BT 322.21 720.75 Td (APS closes Cholla Unit 2, ) Tj ET Q q 0 0 0 rg BT 444.89 720.75 Td (APS believes it will be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (allowed recovery of the remaining net book value of Unit 2 \() Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 329.57 706.95 Td ($128 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 388.67 706.95 Td ( as of December 31, 2014\), in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (addition to a return on its investment. In accordance with GAAP) Tj ET Q q 0 0 0 rg BT 347.80 693.15 Td (, in the third quarter of 2014, Unit 2) Tj ET Q q 0 0 0 rg BT 515.80 693.15 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (remaining net book value was reclassified from property) Tj ET Q q 0 0 0 rg BT 309.02 679.35 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 49.50 665.55 Td (ACC does not allow full recovery of the remaining net book value of Cholla Unit 2, all or a portion of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (regulatory asset will be written of) Tj ET Q q 0 0 0 rg BT 204.18 651.75 Td (f and ) Tj ET Q q 0 0 0 rg BT 229.73 651.75 Td (APS) Tj ET Q q 0 0 0 rg BT 254.02 651.75 Td (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 49.50 637.95 Td (impacted.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 610.35 Td (Renewable Energy Standard) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 590.55 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 590.55 Td (In 2006, the ) Tj ET Q q 0 0 0 rg BT 143.00 590.55 Td (ACC adopted the RES. Under the RES, electric utilities that are regulated by the ) Tj ET Q q 0 0 0 rg BT 518.26 590.55 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 576.75 Td (must supply an increasing percentage of their retail electric ener) Tj ET Q q 0 0 0 rg BT 344.02 576.75 Td (gy sales from eligible renewable resources, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 562.95 Td (including solar) Tj ET Q q 0 0 0 rg BT 117.71 562.95 Td (, wind, biomass, biogas and geothermal technologies. ) Tj ET Q q 0 0 0 rg BT 369.18 562.95 Td (The renewable ener) Tj ET Q q 0 0 0 rg BT 459.64 562.95 Td (gy requirement is 5% ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 549.15 Td (of retail electric sales in 2015 and increases annually until it reaches 15% in 2025. In ) Tj ET Q q 0 0 0 rg BT 444.86 549.15 Td (APS) Tj ET Q q 0 0 0 rg BT 469.15 549.15 Td (s 2009 retail rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 535.35 Td (case settlement agreement \(the 2009 Settlement ) Tj ET Q q 0 0 0 rg BT 276.23 535.35 Td (Agreement\), ) Tj ET Q q 0 0 0 rg BT 341.37 535.35 Td (APS committed to have 1,700 GWh of new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 521.55 Td (renewable resources in service by year) Tj ET Q q 0 0 0 rg BT 227.11 521.55 Td (-end 2015 in addition to its 2008 renewable resource commitments. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 507.75 Td (T) Tj ET Q q 0 0 0 rg BT 55.72 507.75 Td (aken together) Tj ET Q q 0 0 0 rg BT 117.52 507.75 Td (, ) Tj ET Q q 0 0 0 rg BT 122.64 507.75 Td (APS) Tj ET Q q 0 0 0 rg BT 146.93 507.75 Td (s commitment is estimated to be approximately 12% of retail sales, by year) Tj ET Q q 0 0 0 rg BT 492.58 507.75 Td (-end 2015, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 493.95 Td (which is more than double the RES tar) Tj ET Q q 0 0 0 rg BT 227.19 493.95 Td (get of 5% for that year) Tj ET Q q 0 0 0 rg BT 330.34 493.95 Td (. ) Tj ET Q q 0 0 0 rg BT 338.33 493.95 Td (A) Tj ET Q q 0 0 0 rg BT 346.00 493.95 Td ( component of the RES is focused on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 480.15 Td (stimulating development of distributed ener) Tj ET Q q 0 0 0 rg BT 250.50 480.15 Td (gy systems \(generally speaking, small-scale renewable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 466.35 Td (technologies that are located on customers) Tj ET Q q 0 0 0 rg BT 247.59 466.35 Td ( properties, such as rooftop solar systems\). ) Tj ET Q q 0 0 0 rg BT 448.82 466.35 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 505.55 466.35 Td (, under the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 452.55 Td (RES, an increasing percentage of that requirement must be supplied from distributed ener) Tj ET Q q 0 0 0 rg BT 461.58 452.55 Td (gy resources. ) Tj ET Q q 0 0 0 rg BT 527.79 452.55 Td (This ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 438.75 Td (distributed ener) Tj ET Q q 0 0 0 rg BT 121.15 438.75 Td (gy requirement is 30% of the overall RES requirement of 5% in 2015. ) Tj ET Q q 0 0 0 rg BT 448.94 438.75 Td (The following table ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 424.95 Td (summarizes the RES requirement standard \(not including the additional commitment required by the 2009 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 411.15 Td (Settlement ) Tj ET Q q 0 0 0 rg BT 100.93 411.15 Td (Agreement\) and its timing:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 397.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 373.85 239.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.00 373.85 86.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 373.85 8.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 373.85 86.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 373.85 8.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 373.85 86.00 -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 289 373.85 m 375 373.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 373.85 m 469 373.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 373.85 m 563 373.85 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 376.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 323.50 378.08 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.50 378.08 Td (2020) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.50 378.08 Td (2025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 358.97 Td (RES as a % of retail electric sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.80 358.97 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 358.97 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.30 358.97 Td (15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 338.97 Td (Percent of RES to be supplied from distributed energy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 328.97 Td (resources) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.30 333.97 Td (30%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 333.97 Td (30%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.30 333.97 Td (30%) Tj ET Q BT /F1 11.50 Tf ET BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 304.55 Td (Renewable Energy Portfolio.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 225.41 304.55 Td ( ) Tj ET Q q 0 0 0 rg BT 228.08 304.55 Td (T) Tj ET Q q 0 0 0 rg BT 234.30 304.55 Td (o date, ) Tj ET Q q 0 0 0 rg BT 267.20 304.55 Td (APS has a diverse portfolio of existing and planned renewable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 290.75 Td (resources totaling 1,253 MW) Tj ET Q q 0 0 0 rg BT 182.58 290.75 Td (, including solar) Tj ET Q q 0 0 0 rg BT 256.54 290.75 Td (, wind, geothermal, biomass and biogas. Of this portfolio, 1,194 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 276.95 Td (MW) Tj ET Q q 0 0 0 rg BT 70.37 276.95 Td ( are currently in operation and 59 MW) Tj ET Q q 0 0 0 rg BT 247.40 276.95 Td ( are under contract for development or are under construction. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 263.15 Td (Renewable resources in operation include 169 MW) Tj ET Q q 0 0 0 rg BT 285.61 263.15 Td ( of facilities owned by ) Tj ET Q q 0 0 0 rg BT 390.68 263.15 Td (APS, 629 MW) Tj ET Q q 0 0 0 rg BT 458.53 263.15 Td ( of long-term ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 249.35 Td (purchased power agreements, and an estimated 396 MW) Tj ET Q q 0 0 0 rg BT 309.87 249.35 Td ( of customer) Tj ET Q q 0 0 0 rg BT 367.13 249.35 Td (-sited, third-party owned distributed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 235.55 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 235.55 Td (gy resources.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 221.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 207.95 Td (APS) Tj ET Q q 0 0 0 rg BT 109.79 207.95 Td (s strategy to achieve its RES requirements includes executing purchased power contracts for new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 194.15 Td (facilities, ongoing development of distributed ener) Tj ET Q q 0 0 0 rg BT 281.79 194.15 Td (gy resources and procurement of new facilities to be owned ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 180.35 Td (by ) Tj ET Q q 0 0 0 rg BT 63.24 180.35 Td (APS. ) Tj ET Q q 0 0 0 rg BT 92.33 180.35 Td (APS is developing owned solar resources through the ) Tj ET Q q 0 0 0 rg BT 340.83 180.35 Td (AZ Sun Program. Under this program to date, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 166.55 Td (APS estimates its investment commitment will be approximately $674 million. See Note 3 for additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 152.75 Td (details about the ) Tj ET Q q 0 0 0 rg BT 127.11 152.75 Td (AZ Sun Program.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 35 0 obj <>] /Rotate 0 /Contents 36 0 R>> endobj 36 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (14) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 734.55 Td (The following table summarizes ) Tj ET Q q 0 0 0 rg BT 236.25 734.55 Td (APS) Tj ET Q q 0 0 0 rg BT 260.54 734.55 Td (s renewable ener) Tj ET Q q 0 0 0 rg BT 337.59 734.55 Td (gy sources currently in operation and under ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (development. ) Tj ET Q q 0 0 0 rg BT 116.89 720.75 Td (Agreements for the development and completion of future resources are subject to various ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (conditions, including successful siting, permitting and interconnection of the projects to the electric grid. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 650.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 650.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 650.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 650.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 650.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 650.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 650.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 650.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 650.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 650.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 650.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 624.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 624.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 624.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 624.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 624.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 624.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 624.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 624.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 624.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 624.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 624.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 598.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 598.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 598.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 598.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 598.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 598.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 598.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 598.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 598.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 598.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 598.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 572.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 572.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 572.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 572.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 572.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 572.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 572.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 572.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 572.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 572.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 572.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 546.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 546.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 546.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 546.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 546.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 546.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 546.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 546.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 546.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 546.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 546.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 520.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 520.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 520.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 520.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 520.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 520.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 520.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 520.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 520.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 520.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 520.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 494.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 494.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 494.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 494.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 494.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 494.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 494.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 494.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 494.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 494.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 494.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 468.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 468.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 468.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 468.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 468.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 468.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 468.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 468.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 468.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 468.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 468.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 442.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 442.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 442.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 442.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 442.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 442.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 442.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 442.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 442.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 442.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 442.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 416.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 416.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 416.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 416.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 416.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 416.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 416.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 416.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 416.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 416.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 416.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 390.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 390.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 390.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 390.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 390.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 390.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 390.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 390.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 390.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 390.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 390.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 364.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 364.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 364.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 364.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 364.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 364.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 364.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 364.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 364.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 364.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 364.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 338.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 338.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 338.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 338.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 338.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 338.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 338.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 338.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 338.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 338.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 338.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 312.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 312.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 312.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 312.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 312.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 312.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 312.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 312.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 312.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 312.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 312.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 286.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 286.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 286.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 286.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 286.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 286.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 286.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 286.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 286.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 286.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 286.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 260.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 260.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 260.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 260.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 260.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 260.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 260.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 260.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 260.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 260.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 260.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 234.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 234.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 234.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 234.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 234.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 234.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 234.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 234.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 234.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 234.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 234.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 208.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 208.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 208.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 208.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 208.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 208.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 208.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 208.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 208.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 208.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 208.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 182.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 182.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 182.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 182.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 182.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 182.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 182.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 182.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 182.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 182.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 182.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 156.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 156.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 156.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 156.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 156.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 156.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 156.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 156.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 156.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 156.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 156.45 65.00 -13.00 re f /GS0 gs 0.8 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0.9333333333333333 1 rg /GS0 gs 212.00 104.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 104.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 104.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 104.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 104.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 104.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 104.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 104.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 104.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 78.45 158.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 78.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 78.45 100.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 78.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 78.45 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 78.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 78.45 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 78.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 78.45 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 78.45 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 78.45 65.00 -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 212 650.45 m 312 650.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 650.45 m 381 650.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 650.45 m 434 650.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 650.45 m 493 650.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 650.45 m 562 650.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 481.45000000000005 m 493 481.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 481.45000000000005 m 562 481.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 481.45000000000005 m 562 481.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 429.45000000000005 m 493 429.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 429.45000000000005 m 562 429.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 169.45000000000005 m 493 169.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 169.45000000000005 m 562 169.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 156.45000000000005 m 493 156.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 156.45000000000005 m 562 156.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 91.45000000000005 m 493 91.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 91.45000000000005 m 562 91.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 78.45000000000005 m 493 78.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 78.45000000000005 m 562 78.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 66.45000000000005 m 493 66.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 64.45000000000005 m 493 64.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 66.45000000000005 m 562 66.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 64.45000000000005 m 562 64.45000000000005 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 653.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.35 654.68 Td (Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 335.55 688.53 Td (Actual/) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.55 679.02 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.05 679.02 Td (T) Tj ET Q q 0 0 0 rg BT 342.65 679.02 Td (arget) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.95 670.53 Td (Commer) Tj ET Q q 0 0 0 rg BT 357.01 670.53 Td (cial) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.40 662.53 Td (Operation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.00 654.53 Td (Date) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.80 662.68 Td (T) Tj ET Q q 0 0 0 rg BT 404.40 662.68 Td (erm) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.75 654.68 Td (\(Y) Tj ET Q q 0 0 0 rg BT 404.30 654.68 Td (ears\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.00 682.68 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.40 673.17 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.90 673.17 Td (Capacity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.40 663.17 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.90 663.17 Td (InOperation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.05 654.68 Td (\(MW) Tj ET Q q 0 0 0 rg BT 466.12 654.68 Td () Tj ET Q q 0 0 0 rg BT 467.68 654.68 Td (AC\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.65 680.68 Td (NetCapacity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.80 671.17 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.30 671.17 Td (Planned/Under) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.55 662.68 Td (Development) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.05 654.68 Td (\(MW) Tj ET Q q 0 0 0 rg BT 530.12 654.68 Td () Tj ET Q q 0 0 0 rg BT 531.68 654.68 Td (AC\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 641.18 Td (APS Owned) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 214.50 640.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 348.00 640.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 640.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.50 640.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 640.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 628.01 Td (Solar:) Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 214.50 627.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 348.00 627.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 430.50 627.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.50 627.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 627.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 615.02 Td (AZ Sun Program:) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 214.50 614.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 348.00 614.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 614.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.50 614.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 614.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 602.02 Td (Paloma) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 602.18 Td (Gila Bend, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.25 602.18 Td (2011) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 601.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 602.18 Td (17) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 601.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 589.02 Td (Cotton Center) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 589.18 Td (Gila Bend, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.25 589.18 Td (2011) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 588.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 589.18 Td (17) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 588.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 576.02 Td (Hyder Phase 1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 576.18 Td (Hyder, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.25 576.18 Td (2011) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 575.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 576.18 Td (11) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 575.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 563.02 Td (Hyder Phase 2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 563.18 Td (Hyder, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 563.18 Td (2012) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 562.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 563.18 Td (5) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 562.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 550.02 Td (Chino Valley) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 550.18 Td (Chino Valley, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 550.18 Td (2012) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 549.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 550.18 Td (19) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 549.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 537.02 Td (Hyder II) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 537.18 Td (Hyder, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 537.18 Td (2013) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 536.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 537.18 Td (14) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 536.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 524.02 Td (Foothills) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 524.18 Td (Yuma, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 524.18 Td (2013) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 523.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 524.18 Td (35) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 523.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 511.02 Td (Gila Bend) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 511.18 Td (Gila Bend, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 511.18 Td (2014) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 510.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.50 511.18 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 498.02 Td (Luke AFB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 498.18 Td (Glendale, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 498.18 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 498.18 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 485.02 Td (City of Phoenix) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 485.18 Td (Buckeye, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 485.18 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 485.18 Td (10) Tj ET Q BT 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0 0 rg BT 430.50 445.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.50 445.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 445.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 433.02 Td (APS Owned \(a\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 433.18 Td (AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.50 433.18 Td (Various) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 432.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 433.18 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 433.18 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 420.18 Td (Total APS Owned) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 214.50 419.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 348.00 419.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 419.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 420.18 Td (169) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 420.18 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 407.18 Td (Purchased Power Agreements) Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 214.50 406.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 348.00 406.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 430.50 406.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.50 406.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 406.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 394.01 Td (Solar:) Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 214.50 393.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 348.00 393.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 430.50 393.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.50 393.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 393.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 381.02 Td (Solana) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 381.18 Td (Gila Bend, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 381.18 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 381.18 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 381.18 Td (250) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 380.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 368.02 Td (RE Ajo) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 368.18 Td (Ajo, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.25 368.18 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 368.18 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 368.18 Td (5) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 367.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 355.02 Td (Sun E AZ 1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 355.18 Td (Prescott, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.25 355.18 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 355.18 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 355.18 Td (10) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 354.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 342.02 Td (Saddle Mountain) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 342.18 Td (Tonopah, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 342.18 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 342.18 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 342.18 Td (15) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 341.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 329.02 Td (Badger) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 329.18 Td (Tonopah, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 329.18 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 329.18 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 329.18 Td (15) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 328.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 316.02 Td (Gillespie) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 316.18 Td (Maricopa County, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 316.18 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 316.18 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 316.18 Td (15) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 315.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 303.01 Td (Wind:) Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 214.50 302.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 348.00 302.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 430.50 302.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.50 302.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 302.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 290.02 Td (Aragonne Mesa) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 290.18 Td (Santa Rosa, NM) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 290.18 Td (2006) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 290.18 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 290.18 Td (90) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 289.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 277.02 Td (High Lonesome) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 277.18 Td (Mountainair, NM) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 277.18 Td (2009) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 277.18 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 277.18 Td (100) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 276.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 264.02 Td (Perrin Ranch Wind) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 264.18 Td (Williams, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 264.18 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 264.18 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 264.18 Td (99) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 263.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 251.01 Td (Geothermal:) Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 214.50 250.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 348.00 250.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 430.50 250.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.50 250.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 250.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 238.02 Td (Salton Sea) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 238.18 Td (Imperial County, CA) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 238.18 Td (2006) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 238.18 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 238.18 Td (10) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 237.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 225.01 Td (Biomass:) Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 214.50 224.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 348.00 224.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 430.50 224.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.50 224.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 224.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 212.02 Td (Snowflake) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 212.18 Td (Snowflake, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 212.18 Td (2008) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 212.18 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 212.18 Td (14) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 211.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 199.01 Td (Biogas:) Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 214.50 198.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 348.00 198.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 430.50 198.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.50 198.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 198.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 186.02 Td (Glendale Landfill) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 186.18 Td (Glendale, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 186.18 Td (2010) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 186.18 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 186.18 Td (3) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 185.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 173.02 Td (NW Regional Landfill) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 173.18 Td (Surprise, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.00 173.18 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 173.18 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 173.18 Td (3) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 172.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 160.18 Td (Total Purchased Power Agreements) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 214.50 159.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 348.00 159.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 159.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 160.18 Td (629) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 160.18 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 147.18 Td (Distributed Energy) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 214.50 146.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 348.00 146.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 146.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.50 146.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 146.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 134.01 Td (Solar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.17 134.01 Td ( \(b\)) Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 214.50 133.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 348.00 133.17 Td () Tj ET Q BT /F4 1.00 Tf ET q 0 0 0 rg BT 430.50 133.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.50 133.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 133.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 121.02 Td (Third-party Owned) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 121.18 Td (AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.50 121.18 Td (Various) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 120.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 121.18 Td (363) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 121.18 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 108.02 Td (Agreement 1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 108.18 Td (Bagdad, AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.25 108.18 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 108.18 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 108.18 Td (15) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 107.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 95.02 Td (Agreement 2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.50 95.18 Td (AZ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.60 95.18 Td (2011-2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.15 95.18 Td (20-21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 95.18 Td (18) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.50 94.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 82.18 Td (Total Distributed Energy) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 214.50 81.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 348.00 81.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 81.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 82.18 Td (396) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 82.18 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 69.18 Td (Total Renewable Portfolio) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 214.50 68.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 348.00 68.17 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 430.50 68.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.65 69.18 Td (1,194) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 69.18 Td (59) Tj ET Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 37 0 obj <>] /Rotate 0 /Contents 38 0 R>> endobj 38 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (15) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 720.75 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 112.50 720.75 Td (Includes Flagstaf) Tj ET Q q 0 0 0 rg BT 191.18 720.75 Td (f Community Power Project, ) Tj ET Q q 0 0 0 rg BT 325.66 720.75 Td (APS School and Government Program and ) Tj ET Q q 0 0 0 rg BT 525.62 720.75 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 112.50 706.95 Td (Solar Partner Program.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 693.15 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 112.50 693.15 Td (Distributed generation is produced in DC and is converted to ) Tj ET Q q 0 0 0 rg BT 394.83 693.15 Td (AC for reporting purposes.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 653.55 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 653.55 Td (Demand Side Management) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 633.75 Td (In December2009, ) Tj ET Q q 0 0 0 rg BT 179.07 633.75 Td (Arizona regulators placed an increased focus on ener) Tj ET Q q 0 0 0 rg BT 422.49 633.75 Td (gy ef) Tj ET Q q 0 0 0 rg BT 445.59 633.75 Td (ficiency and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 619.95 Td (demand side management programs to encourage customers to conserve ener) Tj ET Q q 0 0 0 rg BT 404.71 619.95 Td (gy) Tj ET Q q 0 0 0 rg BT 415.46 619.95 Td (, while incentivizing utilities to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 606.15 Td (aid in these ef) Tj ET Q q 0 0 0 rg BT 113.48 606.15 Td (forts that ultimately reduce the demand for ener) Tj ET Q q 0 0 0 rg BT 332.65 606.15 Td (gy) Tj ET Q q 0 0 0 rg BT 343.40 606.15 Td (. ) Tj ET Q q 0 0 0 rg BT 351.82 606.15 Td (The ) Tj ET Q q 0 0 0 rg BT 371.94 606.15 Td (ACC initiated its Ener) Tj ET Q q 0 0 0 rg BT 474.26 606.15 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 499.28 606.15 Td (ficiency ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 592.35 Td (rulemaking, with a proposed Ener) Tj ET Q q 0 0 0 rg BT 205.46 592.35 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 230.48 592.35 Td (ficiency Standard \(EES\) of 22% cumulative annual ener) Tj ET Q q 0 0 0 rg BT 498.82 592.35 Td (gy savings by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 578.55 Td (2020. ) Tj ET Q q 0 0 0 rg BT 80.92 578.55 Td (This standard was adopted and became ef) Tj ET Q q 0 0 0 rg BT 272.31 578.55 Td (fective on January1, 201) Tj ET Q q 0 0 0 rg BT 387.80 578.55 Td (1. ) Tj ET Q q 0 0 0 rg BT 401.97 578.55 Td (This standard will likely impact ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 564.75 Td (Arizona) Tj ET Q q 0 0 0 rg BT 89.73 564.75 Td (s future ener) Tj ET Q q 0 0 0 rg BT 147.00 564.75 Td (gy resource needs. \(See Note 3 for ener) Tj ET Q q 0 0 0 rg BT 331.04 564.75 Td (gy ef) Tj ET Q q 0 0 0 rg BT 354.14 564.75 Td (ficiency and other demand side management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 550.95 Td (obligations.\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 537.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 523.35 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 523.35 Td (Government ) Tj ET Q q 0 0 0 rg BT 149.70 523.35 Td (A) Tj ET Q q 0 0 0 rg BT 157.15 523.35 Td (wards) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 509.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 495.75 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 495.75 Td (Through various DOE initiatives, the Federal government made a number of programs available for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 481.95 Td (utilities to develop renewable resources, improve reliability and create jobs. ) Tj ET Q q 0 0 0 rg BT 403.02 481.95 Td (APS continues its work on a $3 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 468.15 Td (million financial award for a high penetration photovoltaic generation study related to the Community Power ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 454.35 Td (Project in Flagstaf) Tj ET Q q 0 0 0 rg BT 133.61 454.35 Td (f, ) Tj ET Q q 0 0 0 rg BT 142.56 454.35 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 188.02 454.35 Td (This award will conclude during 2015 and is contingent upon ) Tj ET Q q 0 0 0 rg BT 472.92 454.35 Td (APS meeting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 440.55 Td (certain project milestones, including DOE-established budget parameters.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 426.75 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 49.5 411.1503173828125 m 308.03125 411.1503173828125 l s q 0 0 0 rg BT 49.50 412.95 Td (Competitive Envir) Tj ET Q q 0 0 0 rg BT 140.32 412.95 Td (onment and Regulatory Oversight) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 399.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 385.35 Td (Retail) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 371.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 357.75 Td (The ) Tj ET Q q 0 0 0 rg BT 105.62 357.75 Td (ACC regulates ) Tj ET Q q 0 0 0 rg BT 175.89 357.75 Td (APS) Tj ET Q q 0 0 0 rg BT 200.18 357.75 Td (s retail electric rates and its issuance of securities. ) Tj ET Q q 0 0 0 rg BT 434.68 357.75 Td (The ) Tj ET Q q 0 0 0 rg BT 454.80 357.75 Td (ACC must also ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 343.95 Td (approve any significant transfer or encumbrance of ) Tj ET Q q 0 0 0 rg BT 286.75 343.95 Td (APS) Tj ET Q q 0 0 0 rg BT 311.05 343.95 Td (s property used to provide retail electric service and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 330.15 Td (approve or receive prior notification of certain transactions between Pinnacle ) Tj ET Q q 0 0 0 rg BT 406.93 330.15 Td (W) Tj ET Q q 0 0 0 rg BT 416.86 330.15 Td (est, ) Tj ET Q q 0 0 0 rg BT 434.76 330.15 Td (APS and their respective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 316.35 Td (af) Tj ET Q q 0 0 0 rg BT 58.23 316.35 Td (filiates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 302.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 288.75 Td (APS is subject to varying degrees of competition from other investor) Tj ET Q q 0 0 0 rg BT 402.11 288.75 Td (-owned electric and gas utilities in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 274.95 Td (Arizona \(such as Southwest Gas Corporation\), as well as cooperatives, municipalities, electrical districts and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 261.15 Td (similar types of governmental or non-profit or) Tj ET Q q 0 0 0 rg BT 261.36 261.15 Td (ganizations. In addition, some customers, particularly industrial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 247.35 Td (and lar) Tj ET Q q 0 0 0 rg BT 80.90 247.35 Td (ge commercial customers, may own and operate generation facilities to meet some or all of their own ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 233.55 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 233.55 Td (gy requirements. ) Tj ET Q q 0 0 0 rg BT 151.91 233.55 Td (This practice is becoming more popular with customers installing or having installed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 219.75 Td (products such as rooftop solar panels to meet or supplement their ener) Tj ET Q q 0 0 0 rg BT 371.53 219.75 Td (gy needs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 205.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 192.15 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 192.15 Td (April14, 2010, the ) Tj ET Q q 0 0 0 rg BT 191.24 192.15 Td (ACC issued a decision holding that solar vendors that install and operate solar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 178.35 Td (facilities for non-profit schools and governments pursuant to a specific type of contract that calculates ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 164.55 Td (payments based on the ener) Tj ET Q q 0 0 0 rg BT 176.39 164.55 Td (gy produced are not public service corporations under the ) Tj ET Q q 0 0 0 rg BT 453.89 164.55 Td (Arizona Constitution, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 150.75 Td (and are therefore not regulated by the ) Tj ET Q q 0 0 0 rg BT 224.16 150.75 Td (ACC. ) Tj ET Q q 0 0 0 rg BT 255.80 150.75 Td (A) Tj ET Q q 0 0 0 rg BT 263.47 150.75 Td ( second matter is pending with the ) Tj ET Q q 0 0 0 rg BT 423.48 150.75 Td (ACC to determine whether ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 136.95 Td (that ruling should extend to solar providers who serve a broader customer base under the same business model. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 123.15 Td (Use of such products by customers within our territory results in an increasing level of competition. ) Tj ET Q q 0 0 0 rg BT 513.25 123.15 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 109.35 Td (cannot predict when, and the extent to which, additional electric service providers will enter or re-enter ) Tj ET Q q 0 0 0 rg BT 525.94 109.35 Td (APS) Tj ET Q q 0 0 0 rg BT 550.23 109.35 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 95.55 Td (service territory) Tj ET Q q 0 0 0 rg BT 121.87 95.55 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 81.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 67.95 Td (In 1999, the ) Tj ET Q q 0 0 0 rg BT 143.00 67.95 Td (ACC approved rulesfor the introduction of retail electric competition in ) Tj ET Q q 0 0 0 rg BT 477.37 67.95 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 522.40 67.95 Td (As a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 54.15 Td (result, as of January1, 2001, all of ) Tj ET Q q 0 0 0 rg BT 210.79 54.15 Td (APS) Tj ET Q q 0 0 0 rg BT 235.08 54.15 Td (s retail customers were eligible to choose alternate ener) Tj ET Q q 0 0 0 rg BT 489.69 54.15 Td (gy suppliers. ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 39 0 obj <>] /Rotate 0 /Contents 40 0 R>> endobj 40 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 /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 734.55 Td (Although some very limited retail competition existed in ) Tj ET Q q 0 0 0 rg BT 312.68 734.55 Td (APS) Tj ET Q q 0 0 0 rg BT 336.98 734.55 Td (s service territory in 1999 and 2000, there are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (currently no active retail competitors of) Tj ET Q q 0 0 0 rg BT 231.63 720.75 Td (fering unbundled ener) Tj ET Q q 0 0 0 rg BT 332.97 720.75 Td (gy or other utility services to ) Tj ET Q q 0 0 0 rg BT 467.76 720.75 Td (APS) Tj ET Q q 0 0 0 rg BT 492.05 720.75 Td (s customers. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (In 2000, the ) Tj ET Q q 0 0 0 rg BT 107.00 706.95 Td (Arizona Superior Court found that the ruleswere in part unconstitutional and in other respects ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (unlawful, the latter finding being primarily on procedural grounds, and invalidated all ) Tj ET Q q 0 0 0 rg BT 446.15 693.15 Td (ACC orders authorizing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (competitive electric services providers to operate in ) Tj ET Q q 0 0 0 rg BT 289.32 679.35 Td (Arizona. In 2004, the ) Tj ET Q q 0 0 0 rg BT 392.48 679.35 Td (Arizona Court of ) Tj ET Q q 0 0 0 rg BT 473.28 679.35 Td (Appeals ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (invalidated some, but not all of the rulesand upheld the invalidation of the orders authorizing competitive ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (electric service providers. In 2005, the ) Tj ET Q q 0 0 0 rg BT 231.20 651.75 Td (Arizona Supreme Court declined to review the Court of ) Tj ET Q q 0 0 0 rg BT 489.57 651.75 Td (Appeals) Tj ET Q q 0 0 0 rg BT 530.23 651.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (decision.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 624.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.35 Td (In 2008, the ) Tj ET Q q 0 0 0 rg BT 143.00 610.35 Td (ACC directed the ) Tj ET Q q 0 0 0 rg BT 225.72 610.35 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 268.63 610.35 Td (f to investigate whether such retail competition was in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (public interest and what legal impediments remain to competition in light of the Court of ) Tj ET Q q 0 0 0 rg BT 460.55 596.55 Td (Appeals) Tj ET Q q 0 0 0 rg BT 501.21 596.55 Td ( decision ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (referenced above. ) Tj ET Q q 0 0 0 rg BT 136.76 582.75 Td (The ) Tj ET Q q 0 0 0 rg BT 156.88 582.75 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 199.80 582.75 Td (f) Tj ET Q q 0 0 0 rg BT 204.27 582.75 Td () Tj ET Q q 0 0 0 rg BT 207.46 582.75 Td (s report on the results of its investigation was issued on ) Tj ET Q q 0 0 0 rg BT 463.96 582.75 Td (August12, 2010. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (The report stated that additional analysis, discussion and study of all aspects of the issue are required in order ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (to perform a proper evaluation. ) Tj ET Q q 0 0 0 rg BT 198.42 555.15 Td (While the report did not make any specific recommendations other than to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.35 Td (conduct more workshops, the report did state that the current retail electric competition rulesare incomplete ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (and in need of modification.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 513.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 499.95 Td (On May9, 2013, the ) Tj ET Q q 0 0 0 rg BT 182.93 499.95 Td (ACC voted to re-examine the facilitation of a deregulated retail electric market in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 94.96 486.15 Td (The ) Tj ET Q q 0 0 0 rg BT 115.08 486.15 Td (ACC subsequently opened a docket for this matter and received comments from a number of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (interested parties on the considerations involved in establishing retail electric deregulation in the state. One of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (these considerations was whether various aspects of a deregulated market, including setting utility rates on a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (market basis, would be consistent with the requirements of the ) Tj ET Q q 0 0 0 rg BT 349.39 444.75 Td (Arizona Constitution. On September1) Tj ET Q q 0 0 0 rg BT 529.11 444.75 Td (1, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.95 Td (2013, after receiving legal advice from the ) Tj ET Q q 0 0 0 rg BT 247.48 430.95 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 290.39 430.95 Td (f, the ) Tj ET Q q 0 0 0 rg BT 316.26 430.95 Td (ACC voted 4-1 to close the current docket and await ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.15 Td (full ) Tj ET Q q 0 0 0 rg BT 67.71 417.15 Td (Arizona Constitutional authority before any further examination of this matter) Tj ET Q q 0 0 0 rg BT 426.36 417.15 Td (. ) Tj ET Q q 0 0 0 rg BT 434.78 417.15 Td (The motion approved by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 403.35 Td (ACC also included opening one or more new dockets in the future to explore options to of) Tj ET Q q 0 0 0 rg BT 480.78 403.35 Td (fer more rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (choices to customers and innovative changes within the existing cost-of-service regulatory model that could ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.75 Td (include elements of competition. ) Tj ET Q q 0 0 0 rg BT 205.78 375.75 Td (The ) Tj ET Q q 0 0 0 rg BT 225.90 375.75 Td (ACC opened a docket on November4, 2013 to explore technological ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (advances and innovative changes within the electric utility industry) Tj ET Q q 0 0 0 rg BT 358.53 361.95 Td (. ) Tj ET Q q 0 0 0 rg BT 366.52 361.95 Td (A) Tj ET Q q 0 0 0 rg BT 374.19 361.95 Td ( series of workshops in this docket were ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (held in 2014 and another is currently scheduled for February 26, 2015.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 334.35 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 320.55 Td (Wholesale) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 292.95 Td (FERC regulates rates for wholesale power sales and transmission services. \(See Note 3 for information ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.15 Td (regarding ) Tj ET Q q 0 0 0 rg BT 95.80 279.15 Td (APS) Tj ET Q q 0 0 0 rg BT 120.10 279.15 Td (s transmission rates.\) During 2014, approximately 7.3% of ) Tj ET Q q 0 0 0 rg BT 394.78 279.15 Td (APS) Tj ET Q q 0 0 0 rg BT 419.08 279.15 Td (s electric operating revenues ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.35 Td (resulted from such sales and services. ) Tj ET Q q 0 0 0 rg BT 227.70 265.35 Td (APS) Tj ET Q q 0 0 0 rg BT 252.00 265.35 Td (s wholesale activity primarily consists of managing fuel and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (purchased power supplies to serve retail customer ener) Tj ET Q q 0 0 0 rg BT 301.25 251.55 Td (gy requirements. ) Tj ET Q q 0 0 0 rg BT 383.65 251.55 Td (APS also sells, in the wholesale ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (market, its generation output that is not needed for ) Tj ET Q q 0 0 0 rg BT 283.92 237.75 Td (APS) Tj ET Q q 0 0 0 rg BT 308.21 237.75 Td (s Native Load and, in doing so, competes with other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.95 Td (utilities, power marketers and independent power producers. ) Tj ET Q q 0 0 0 rg BT 333.09 223.95 Td (Additionally) Tj ET Q q 0 0 0 rg BT 390.48 223.95 Td (, subject to specified parameters, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.15 Td (APS hedges both electricity and fuels. ) Tj ET Q q 0 0 0 rg BT 230.70 210.15 Td (The majority of these activities are undertaken to mitigate risk in ) Tj ET Q q 0 0 0 rg BT 531.22 210.15 Td (APS) Tj ET Q q 0 0 0 rg BT 555.51 210.15 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.35 Td (portfolio.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 41 0 obj <>] /Rotate 0 /Contents 42 0 R>> endobj 42 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 49.50 734.75 Td (Envir) Tj ET Q q 0 0 0 rg BT 77.41 734.75 Td (onmental Matters) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.95 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 707.15 Td (Climate Change) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.35 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 679.55 Td (Legislative Initiatives. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 195.38 679.55 Td (There have been no recent attempts by Congress to pass legislation that would ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.75 Td (regulate greenhouse gas \(GHG\) emissions, and it is unclear if and when the 1) Tj ET Q q 0 0 0 rg BT 415.05 665.75 Td (14) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 426.55 670.96 Td (th) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 432.36 665.75 Td ( Congress will consider a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td (climate change bill. In the event climate change legislation ultimately passes, the actual economic and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.15 Td (operational impact of such legislation on ) Tj ET Q q 0 0 0 rg BT 239.21 638.15 Td (APS depends on a variety of factors, none of which can be fully ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.35 Td (known until a law is enacted and the specifics of the resulting program are established. ) Tj ET Q q 0 0 0 rg BT 453.91 624.35 Td (These factors include ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (the terms of the legislation with regard to allowed GHG emissions; the cost to reduce emissions; in the event a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.75 Td (cap-and-trade program is established, whether any permitted emissions allowances will be allocated to source ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.95 Td (operators free of cost or auctioned \(and, if so, the cost of those allowances in the marketplace\) and whether ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (of) Tj ET Q q 0 0 0 rg BT 58.87 569.15 Td (fsets and other measures to moderate the costs of compliance will be available; and, in the event of a carbon ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (tax, the amount of the tax per pound of carbon dioxide \(CO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 327.98 553.70 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 331.72 555.35 Td (\) equivalent emitted.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 527.75 Td (In addition to federal legislative initiatives, state-specific initiatives may also impact our business. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.95 Td (While ) Tj ET Q q 0 0 0 rg BT 79.84 513.95 Td (Arizona has no pending legislation and no proposed agency rule regulating GHGs in ) Tj ET Q q 0 0 0 rg BT 471.08 513.95 Td (Arizona, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.15 Td (California legislature enacted ) Tj ET Q q 0 0 0 rg BT 187.13 500.15 Td (AB 32 and SB 1368 in 2006 to address GHG emissions. In October 201) Tj ET Q q 0 0 0 rg BT 520.50 500.15 Td (1, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.35 Td (California ) Tj ET Q q 0 0 0 rg BT 98.37 486.35 Td (Air Resources Board approved final regulations that established a state-wide cap on GHG emissions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.55 Td (beginning on January 1, 2013 and established a GHG allowance trading program under that cap. ) Tj ET Q q 0 0 0 rg BT 498.31 472.55 Td (The first ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.75 Td (phase of the program, which applies to, among other entities, importers of electricity) Tj ET Q q 0 0 0 rg BT 438.05 458.75 Td (, commenced on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.95 Td (January1, 2013. Under the program, entities selling electricity into California, including ) Tj ET Q q 0 0 0 rg BT 461.81 444.95 Td (APS, must hold ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.15 Td (carbon allowances to cover GHG emissions associated with electricity sales into California from outside the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.35 Td (state. ) Tj ET Q q 0 0 0 rg BT 78.57 417.35 Td (APS is authorized to recover the cost of these carbon allowances through the PSA. ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 389.75 Td (Regulatory Initiatives.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.92 389.75 Td ( In 2009, EP) Tj ET Q q 0 0 0 rg BT 250.24 389.75 Td (A) Tj ET Q q 0 0 0 rg BT 257.91 389.75 Td ( determined that GHG emissions endanger public health and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.95 Td (welfare. ) Tj ET Q q 0 0 0 rg BT 92.39 375.95 Td (This determination was made in response to a 2007 United States Supreme Court ruling that GHGs fit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.15 Td (within the Clean ) Tj ET Q q 0 0 0 rg BT 127.76 362.15 Td (Air ) Tj ET Q q 0 0 0 rg BT 145.33 362.15 Td (Act) Tj ET Q q 0 0 0 rg BT 165.13 362.15 Td (s broad definition of air pollutant and, as a result, EP) Tj ET Q q 0 0 0 rg BT 417.01 362.15 Td (A) Tj ET Q q 0 0 0 rg BT 424.68 362.15 Td ( has the authority to regulate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.35 Td (GHG emissions of new motor vehicles under the Clean ) Tj ET Q q 0 0 0 rg BT 305.97 348.35 Td (Air ) Tj ET Q q 0 0 0 rg BT 323.54 348.35 Td (Act. ) Tj ET Q q 0 0 0 rg BT 348.14 348.35 Td (As a result of this endangerment finding, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.55 Td (EP) Tj ET Q q 0 0 0 rg BT 61.87 334.55 Td (A) Tj ET Q q 0 0 0 rg BT 69.54 334.55 Td ( determined that the Clean ) Tj ET Q q 0 0 0 rg BT 193.13 334.55 Td (Air ) Tj ET Q q 0 0 0 rg BT 210.70 334.55 Td (Act required new regulatory requirements for new and modified major ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.75 Td (GHG emitting sources, including power plants. EP) Tj ET Q q 0 0 0 rg BT 290.88 320.75 Td (A) Tj ET Q q 0 0 0 rg BT 298.55 320.75 Td ( issued a rule under the Clean ) Tj ET Q q 0 0 0 rg BT 436.83 320.75 Td (Air ) Tj ET Q q 0 0 0 rg BT 454.40 320.75 Td (Act, known as the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.95 Td (tailoring rule, establishing new GHG emission thresholds that determine when sources, including power ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.15 Td (plants, must obtain air operating permits or New Source Review permits. New Source Review) Tj ET Q q 0 0 0 rg BT 490.13 293.15 Td (, or NSR, is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.35 Td (a pre-construction permitting program under the Clean ) Tj ET Q q 0 0 0 rg BT 303.39 279.35 Td (Air ) Tj ET Q q 0 0 0 rg BT 320.96 279.35 Td (Act that requires analysis of pollution controls prior ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.55 Td (to building a new stationary source or making major modifications to an existing stationary source. ) Tj ET Q q 0 0 0 rg BT 510.80 265.55 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.75 Td (tailoring rule became applicable to power plants in January 201) Tj ET Q q 0 0 0 rg BT 341.27 251.75 Td (1 and, as a result, ) Tj ET Q q 0 0 0 rg BT 423.35 251.75 Td (APS will generally be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.95 Td (required to consider the impact of GHG emissions as part of its traditional NSR analysis for new sources and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.15 Td (major modifications to existing plants.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 196.55 Td (Consistent with President Obama) Tj ET Q q 0 0 0 rg BT 242.34 196.55 Td (s June 2013 Climate ) Tj ET Q q 0 0 0 rg BT 338.17 196.55 Td (Action Plan addressing his plans to reduce GHG ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.75 Td (emissions in the United States, pursuant to its endangerment finding and its authority under Section 1) Tj ET Q q 0 0 0 rg BT 515.40 182.75 Td (1) Tj ET Q q 0 0 0 rg BT 520.73 182.75 Td (1\(b\) of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.95 Td (the Clean ) Tj ET Q q 0 0 0 rg BT 95.49 168.95 Td (Air ) Tj ET Q q 0 0 0 rg BT 113.06 168.95 Td (Act, on September20, 2013, EP) Tj ET Q q 0 0 0 rg BT 260.21 168.95 Td (A) Tj ET Q q 0 0 0 rg BT 267.88 168.95 Td ( issued a proposed rule, which would establish New Source ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.15 Td (Performance Standards \(NSPS\) for new fossil-fired power plants. Subsequently) Tj ET Q q 0 0 0 rg BT 428.18 155.15 Td (, on June 2, 2014, EP) Tj ET Q q 0 0 0 rg BT 524.87 155.15 Td (A) Tj ET Q q 0 0 0 rg BT 532.54 155.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.35 Td (issued two additional proposed rules to regulate GHG emissions from modified and reconstructed electric ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.55 Td (generating units \("EGUs"\) pursuant to Section 1) Tj ET Q q 0 0 0 rg BT 271.18 127.55 Td (1) Tj ET Q q 0 0 0 rg BT 276.50 127.55 Td (1\(b\) of the Clean ) Tj ET Q q 0 0 0 rg BT 356.98 127.55 Td (Air ) Tj ET Q q 0 0 0 rg BT 374.55 127.55 Td (Act and existing fossil fuel-fired power ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.75 Td (plants pursuant to Clean ) Tj ET Q q 0 0 0 rg BT 163.21 113.75 Td (Air ) Tj ET Q q 0 0 0 rg BT 180.78 113.75 Td (Act Section 1) Tj ET Q q 0 0 0 rg BT 242.96 113.75 Td (1) Tj ET Q q 0 0 0 rg BT 248.28 113.75 Td (1\(d\). On January 7, 2015, EP) Tj ET Q q 0 0 0 rg BT 384.25 113.75 Td (A) Tj ET Q q 0 0 0 rg BT 391.92 113.75 Td ( announced that its carbon pollution ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.95 Td (standards for new) Tj ET Q q 0 0 0 rg BT 130.51 99.95 Td (, modified and reconstructed, and existing power plants would be finalized in summer 2015.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 72.35 Td (EP) Tj ET Q q 0 0 0 rg BT 97.87 72.35 Td (A) Tj ET Q q 0 0 0 rg BT 104.90 72.35 Td () Tj ET Q q 0 0 0 rg BT 108.09 72.35 Td (s proposed rule applicable to modified and reconstructed power plants would require fossil fuel-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.55 Td (fired EGUs under) Tj ET Q q 0 0 0 rg BT 131.05 58.55 Td (going modification or reconstruction to meet CO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 355.89 56.90 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 359.63 58.55 Td ( performance standards based on a ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 43 0 obj <>] /Rotate 0 /Contents 44 0 R>> endobj 44 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (18) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 734.55 Td (combination of best operating practices and equipment upgrades. ) Tj ET Q q 0 0 0 rg BT 354.59 734.55 Td (The rule would also require existing EGUs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (that are modified or reconstructed after becoming subject to state or federal standards of performance for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (existing power plants under Section 1) Tj ET Q q 0 0 0 rg BT 222.50 706.95 Td (1) Tj ET Q q 0 0 0 rg BT 227.83 706.95 Td (1\(d\) of the Clean ) Tj ET Q q 0 0 0 rg BT 308.31 706.95 Td (Air ) Tj ET Q q 0 0 0 rg BT 325.88 706.95 Td (Act to continue to meet those requirements. ) Tj ET Q q 0 0 0 rg BT 532.30 706.95 Td (W) Tj ET Q q 0 0 0 rg BT 542.23 706.95 Td (e ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (cannot currently predict the shape of any final rules or standards for modified and reconstructed fossil-fired ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (EGUs or assess how they might potentially impact the Company) Tj ET Q q 0 0 0 rg BT 346.12 679.35 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 651.75 Td (W) Tj ET Q q 0 0 0 rg BT 95.89 651.75 Td (ith respect to existing power plants, EP) Tj ET Q q 0 0 0 rg BT 274.66 651.75 Td (A) Tj ET Q q 0 0 0 rg BT 281.69 651.75 Td () Tj ET Q q 0 0 0 rg BT 284.89 651.75 Td (s proposed Clean Power Plan rule proposes state-specific ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (goals or tar) Tj ET Q q 0 0 0 rg BT 101.03 637.95 Td (gets to achieve reductions in CO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 250.81 636.30 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 254.55 637.95 Td ( emissions from existing EGUs measured from a 2012 baseline. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (EP) Tj ET Q q 0 0 0 rg BT 61.87 624.15 Td (A) Tj ET Q q 0 0 0 rg BT 68.90 624.15 Td () Tj ET Q q 0 0 0 rg BT 72.09 624.15 Td (s proposed emission rates would not apply directly to specific units, but must be met on a state-wide basis. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (As proposed, each state) Tj ET Q q 0 0 0 rg BT 161.27 610.35 Td (s goal is an emissions rate, which is a single number for the future carbon intensity of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (that state. ) Tj ET Q q 0 0 0 rg BT 99.11 596.55 Td (The proposed rule provides guidelines to states to help develop their plans for meeting the interim ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (\(2020-2029\) and final \(2030 and beyond\) emission rates set forth in the proposal. States would be required to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (submit their plans to EP) Tj ET Q q 0 0 0 rg BT 158.97 568.95 Td (A) Tj ET Q q 0 0 0 rg BT 166.64 568.95 Td ( by summer 2016, although states may be eligible for one- or two-year extensions, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (provided they submit detailed explanations that contain specified information required by EP) Tj ET Q q 0 0 0 rg BT 476.72 555.15 Td (A) Tj ET Q q 0 0 0 rg BT 484.39 555.15 Td ( in advance of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.35 Td (the applicable due date. EP) Tj ET Q q 0 0 0 rg BT 176.18 541.35 Td (A) Tj ET Q q 0 0 0 rg BT 183.21 541.35 Td () Tj ET Q q 0 0 0 rg BT 186.40 541.35 Td (s proposal for ) Tj ET Q q 0 0 0 rg BT 251.88 541.35 Td (Arizona would result in in-state coal-fired generation \(with the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (exception of coal-fired generation located in Indian country\) shifting to natural gas combined cycle and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (renewable generation. Such a substantial change in ) Tj ET Q q 0 0 0 rg BT 289.33 513.75 Td (APS) Tj ET Q q 0 0 0 rg BT 313.62 513.75 Td (s generation portfolio could require additional capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (investments and increased operating costs, and thus have a significant financial impact on the Company) Tj ET Q q 0 0 0 rg BT 526.20 499.95 Td (. ) Tj ET Q q 0 0 0 rg BT 534.19 499.95 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (will continue to monitor these standards as they are developed.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 458.55 Td (As for sources in Indian country \(which are not subject to state plans\), on October 28, 2014, EP) Tj ET Q q 0 0 0 rg BT 523.91 458.55 Td (A) Tj ET Q q 0 0 0 rg BT 531.58 458.55 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (issued a supplemental rule proposing carbon dioxide emission rates for U.S. territories and areas of Indian ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.95 Td (country with existing fossil fuel-fired EGUs, as well as guidelines for plans to achieve those rates. ) Tj ET Q q 0 0 0 rg BT 506.32 430.95 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.15 Td (supplemental proposal applies to Four Corners and the Navajo Plant, both of which are located on the Navajo ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (Nation. ) Tj ET Q q 0 0 0 rg BT 89.22 403.35 Td (W) Tj ET Q q 0 0 0 rg BT 99.61 403.35 Td (ith respect to these two plants, EP) Tj ET Q q 0 0 0 rg BT 254.10 403.35 Td (A) Tj ET Q q 0 0 0 rg BT 261.77 403.35 Td ( applied the four building blocks described in its June 2, 2014 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (Clean ) Tj ET Q q 0 0 0 rg BT 78.57 389.55 Td (Air ) Tj ET Q q 0 0 0 rg BT 96.14 389.55 Td (Act Section 1) Tj ET Q q 0 0 0 rg BT 158.31 389.55 Td (1) Tj ET Q q 0 0 0 rg BT 163.63 389.55 Td (1\(d\) proposal to establish interim and final goals, expressed as CO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 469.28 387.90 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.02 389.55 Td ( emission rates. If ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.75 Td (finalized as proposed, it is unlikely the rule would require additional emission reductions as a result of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (plants) Tj ET Q q 0 0 0 rg BT 79.95 361.95 Td ( past and future actions to comply with the Best ) Tj ET Q q 0 0 0 rg BT 301.61 361.95 Td (A) Tj ET Q q 0 0 0 rg BT 309.06 361.95 Td (vailable Retrofit ) Tj ET Q q 0 0 0 rg BT 386.77 361.95 Td (T) Tj ET Q q 0 0 0 rg BT 392.99 361.95 Td (echnology \(BAR) Tj ET Q q 0 0 0 rg BT 475.66 361.95 Td (T\) requirements ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (of EP) Tj ET Q q 0 0 0 rg BT 74.32 348.15 Td (A) Tj ET Q q 0 0 0 rg BT 81.35 348.15 Td () Tj ET Q q 0 0 0 rg BT 84.55 348.15 Td (s Clean ) Tj ET Q q 0 0 0 rg BT 120.96 348.15 Td (Air ) Tj ET Q q 0 0 0 rg BT 138.96 348.15 Td (V) Tj ET Q q 0 0 0 rg BT 146.57 348.15 Td (isibility Rule. \(See EP) Tj ET Q q 0 0 0 rg BT 255.72 348.15 Td (A) Tj ET Q q 0 0 0 rg BT 263.39 348.15 Td ( Environmental Regulation - Regional Haze Rules discussion ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td (below) Tj ET Q q 0 0 0 rg BT 76.86 334.35 Td (.\)) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 306.75 Td (Company Response to Climate Change Initiatives) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 320.32 306.75 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 323.19 306.75 Td ( ) Tj ET Q q 0 0 0 rg BT 328.74 306.75 Td (W) Tj ET Q q 0 0 0 rg BT 338.67 306.75 Td (e have undertaken a number of initiatives to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.95 Td (address emission concerns, including renewable ener) Tj ET Q q 0 0 0 rg BT 293.27 292.95 Td (gy procurement and development, promotion of programs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.15 Td (and rates that promote ener) Tj ET Q q 0 0 0 rg BT 174.46 279.15 Td (gy conservation, renewable ener) Tj ET Q q 0 0 0 rg BT 323.05 279.15 Td (gy use, and ener) Tj ET Q q 0 0 0 rg BT 397.57 279.15 Td (gy ef) Tj ET Q q 0 0 0 rg BT 420.67 279.15 Td (ficiency) Tj ET Q q 0 0 0 rg BT 456.96 279.15 Td (. \(See Ener) Tj ET Q q 0 0 0 rg BT 515.50 279.15 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.35 Td (Sources and Resource Planning - Current and Future Resources above for details of these plans and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (initiatives.\) ) Tj ET Q q 0 0 0 rg BT 106.68 251.55 Td (APS currently has a diverse portfolio of renewable resources, including solar) Tj ET Q q 0 0 0 rg BT 460.38 251.55 Td (, wind, geothermal, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (biogas, and biomass, and we expect the percentage of renewable ener) Tj ET Q q 0 0 0 rg BT 368.60 237.75 Td (gy in our resource portfolio to increase ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.95 Td (over the coming years. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 198.15 Td (APS prepares an inventory of GHG emissions from its operations. ) Tj ET Q q 0 0 0 rg BT 395.75 198.15 Td (This inventory is reported to EP) Tj ET Q q 0 0 0 rg BT 541.95 198.15 Td (A) Tj ET Q q 0 0 0 rg BT 549.62 198.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 184.35 Td (under the EP) Tj ET Q q 0 0 0 rg BT 107.85 184.35 Td (A) Tj ET Q q 0 0 0 rg BT 115.52 184.35 Td ( GHG Reporting Program and is voluntarily communicated to the public in Pinnacle ) Tj ET Q q 0 0 0 rg BT 505.93 184.35 Td (W) Tj ET Q q 0 0 0 rg BT 515.86 184.35 Td (est) Tj ET Q q 0 0 0 rg BT 531.83 184.35 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 170.55 Td (annual Corporate Responsibility Report, which is available on our website \() Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 398.58 170.55 Td (www) Tj ET Q q 0 0 0 rg BT 420.74 170.55 Td (.pinnaclewest.com) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 505.70 170.55 Td (\). ) Tj ET Q q 0 0 0 rg BT 517.94 170.55 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 156.75 Td (report provides information related to the Company and its approach to sustainability and its workplace and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 142.95 Td (environmental performance. ) Tj ET Q q 0 0 0 rg BT 185.32 142.95 Td (The information on Pinnacle ) Tj ET Q q 0 0 0 rg BT 319.89 142.95 Td (W) Tj ET Q q 0 0 0 rg BT 329.82 142.95 Td (est) Tj ET Q q 0 0 0 rg BT 345.79 142.95 Td (s website, including the Corporate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 129.15 Td (Responsibility Report, is not incorporated by reference into this report.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 115.95 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 102.75 Td (EP) Tj ET Q q 0 0 0 rg BT 98.74 102.75 Td (A) Tj ET Q q 0 0 0 rg BT 106.08 102.75 Td ( Envir) Tj ET Q q 0 0 0 rg BT 135.52 102.75 Td (onmental Regulation) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 85.50 75.75 Td (Regional Haze Rules.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 183.59 75.75 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 189.09 75.75 Td (In 1999, EP) Tj ET Q q 0 0 0 rg BT 240.33 75.75 Td (A) Tj ET Q q 0 0 0 rg BT 247.67 75.75 Td ( announced regional haze rules to reduce visibility impairment in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 62.55 Td (national parks and wilderness areas. ) Tj ET Q q 0 0 0 rg BT 213.33 62.55 Td (The rules require states \(or) Tj ET Q q 0 0 0 rg BT 330.78 62.55 Td (, for sources located on tribal land, EP) Tj ET Q q 0 0 0 rg BT 498.09 62.55 Td (A\) to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 49.35 Td (determine what pollution control technologies constitute the BAR) Tj ET Q q 0 0 0 rg BT 338.75 49.35 Td (T) Tj ET Q q 0 0 0 rg BT 345.28 49.35 Td ( for certain older major stationary sources, ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 45 0 obj <>] /Rotate 0 /Contents 46 0 R>> endobj 46 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (19) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 734.90 Td (including fossil-fired power plants. EP) Tj ET Q q 0 0 0 rg BT 221.41 734.90 Td (A) Tj ET Q q 0 0 0 rg BT 228.74 734.90 Td ( subsequently issued the Clean ) Tj ET Q q 0 0 0 rg BT 365.92 734.90 Td (Air ) Tj ET Q q 0 0 0 rg BT 383.14 734.90 Td (V) Tj ET Q q 0 0 0 rg BT 390.42 734.90 Td (isibility Rule, which provides ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 721.70 Td (guidelines on how to perform a BAR) Tj ET Q q 0 0 0 rg BT 211.98 721.70 Td (T) Tj ET Q q 0 0 0 rg BT 218.50 721.70 Td ( analysis.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 695.90 Td (The Four Corners and Navajo Plant participants) Tj ET Q q 0 0 0 rg BT 308.85 695.90 Td ( obligations to comply with EP) Tj ET Q q 0 0 0 rg BT 450.58 695.90 Td (A) Tj ET Q q 0 0 0 rg BT 457.61 695.90 Td () Tj ET Q q 0 0 0 rg BT 460.81 695.90 Td (s final BAR) Tj ET Q q 0 0 0 rg BT 515.06 695.90 Td (T) Tj ET Q q 0 0 0 rg BT 521.88 695.90 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 682.10 Td (determinations \(and Cholla) Tj ET Q q 0 0 0 rg BT 177.89 682.10 Td (s obligations to comply with ) Tj ET Q q 0 0 0 rg BT 311.10 682.10 Td (ADEQ) Tj ET Q q 0 0 0 rg BT 346.24 682.10 Td (s and EP) Tj ET Q q 0 0 0 rg BT 385.44 682.10 Td (A) Tj ET Q q 0 0 0 rg BT 392.47 682.10 Td () Tj ET Q q 0 0 0 rg BT 395.66 682.10 Td (s determinations\), coupled with the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 668.30 Td (financial impact of potential future climate change legislation, other environmental regulations, and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 654.50 Td (business considerations, could jeopardize the economic viability of these plants or the ability of individual ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 640.70 Td (participants to continue their participation in these plants. ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 614.90 Td (Cholla. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 125.44 614.90 Td (In 2007, ) Tj ET Q q 0 0 0 rg BT 166.01 614.90 Td (ADEQ required ) Tj ET Q q 0 0 0 rg BT 241.38 614.90 Td (APS to perform a BAR) Tj ET Q q 0 0 0 rg BT 348.02 614.90 Td (T) Tj ET Q q 0 0 0 rg BT 354.83 614.90 Td ( analysis for Cholla pursuant to the Clean ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.10 Td (Air ) Tj ET Q q 0 0 0 rg BT 67.50 601.10 Td (V) Tj ET Q q 0 0 0 rg BT 75.11 601.10 Td (isibility Rule. ) Tj ET Q q 0 0 0 rg BT 142.85 601.10 Td (APS completed the BAR) Tj ET Q q 0 0 0 rg BT 257.47 601.10 Td (T) Tj ET Q q 0 0 0 rg BT 264.29 601.10 Td ( analysis for Cholla and submitted its BAR) Tj ET Q q 0 0 0 rg BT 461.33 601.10 Td (T) Tj ET Q q 0 0 0 rg BT 468.14 601.10 Td ( recommendations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.30 Td (to ) Tj ET Q q 0 0 0 rg BT 60.69 587.30 Td (ADEQ in early 2008. ) Tj ET Q q 0 0 0 rg BT 164.60 587.30 Td (The recommendations include the installation of certain pollution control equipment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 573.50 Td (that ) Tj ET Q q 0 0 0 rg BT 68.99 573.50 Td (APS believes constitutes BAR) Tj ET Q q 0 0 0 rg BT 208.53 573.50 Td (T) Tj ET Q q 0 0 0 rg BT 214.71 573.50 Td (. ) Tj ET Q q 0 0 0 rg BT 222.70 573.50 Td (ADEQ reviewed ) Tj ET Q q 0 0 0 rg BT 301.90 573.50 Td (APS) Tj ET Q q 0 0 0 rg BT 326.19 573.50 Td (s recommendations and submitted its proposed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 559.70 Td (BAR) Tj ET Q q 0 0 0 rg BT 72.46 559.70 Td (T) Tj ET Q q 0 0 0 rg BT 79.27 559.70 Td ( State Implementation Plan \(SIP\) for Cholla and other sources in ) Tj ET Q q 0 0 0 rg BT 388.75 559.70 Td (Arizona in early 201) Tj ET Q q 0 0 0 rg BT 483.17 559.70 Td (1. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 532.10 Td (On December5, 2012, EP) Tj ET Q q 0 0 0 rg BT 205.17 532.10 Td (A) Tj ET Q q 0 0 0 rg BT 212.84 532.10 Td ( issued a final BAR) Tj ET Q q 0 0 0 rg BT 302.22 532.10 Td (T) Tj ET Q q 0 0 0 rg BT 309.04 532.10 Td ( rule applicable to Cholla. EP) Tj ET Q q 0 0 0 rg BT 446.28 532.10 Td (A) Tj ET Q q 0 0 0 rg BT 453.95 532.10 Td ( approved ) Tj ET Q q 0 0 0 rg BT 501.85 532.10 Td (ADEQ) Tj ET Q q 0 0 0 rg BT 536.99 532.10 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.30 Td (BAR) Tj ET Q q 0 0 0 rg BT 72.46 518.30 Td (T) Tj ET Q q 0 0 0 rg BT 79.27 518.30 Td ( emissions limits for sulfur dioxide \(SO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 266.46 516.65 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 270.20 518.30 Td (\) and emissions of particulate matter \(PM\), but added a SO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 556.66 516.65 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 560.40 518.30 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 504.50 Td (removal ef) Tj ET Q q 0 0 0 rg BT 98.78 504.50 Td (ficiency requirement of 95%. In addition, EP) Tj ET Q q 0 0 0 rg BT 307.54 504.50 Td (A) Tj ET Q q 0 0 0 rg BT 315.21 504.50 Td ( disapproved ) Tj ET Q q 0 0 0 rg BT 376.54 504.50 Td (ADEQ) Tj ET Q q 0 0 0 rg BT 411.67 504.50 Td (s BAR) Tj ET Q q 0 0 0 rg BT 441.98 504.50 Td (T) Tj ET Q q 0 0 0 rg BT 448.80 504.50 Td ( determinations for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 490.70 Td (oxides of nitrogen \(NO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 161.60 489.05 Td (x) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 165.34 490.70 Td (\) and promulgated a Federal Implementation Plan \("FIP"\) establishing a new) Tj ET Q q 0 0 0 rg BT 522.73 490.70 Td (, more ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 476.90 Td (stringent bubbled NO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 159.36 475.25 Td (x) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 163.10 476.90 Td ( emission rate applicable to the two BAR) Tj ET Q q 0 0 0 rg BT 351.81 476.90 Td (T) Tj ET Q q 0 0 0 rg BT 357.78 476.90 Td (-eligible Cholla units owned by ) Tj ET Q q 0 0 0 rg BT 505.03 476.90 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.10 Td (the other BAR) Tj ET Q q 0 0 0 rg BT 115.88 463.10 Td (T) Tj ET Q q 0 0 0 rg BT 121.85 463.10 Td (-eligible unit owned by PacifiCorp. In order to comply with this new rate, ) Tj ET Q q 0 0 0 rg BT 466.15 463.10 Td (APS will be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.30 Td (required to install SCR control technology on all three of the BAR) Tj ET Q q 0 0 0 rg BT 354.47 449.30 Td (T) Tj ET Q q 0 0 0 rg BT 360.44 449.30 Td (-eligible Cholla units. ) Tj ET Q q 0 0 0 rg BT 465.53 449.30 Td (APS) Tj ET Q q 0 0 0 rg BT 489.82 449.30 Td (s total costs for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 435.50 Td (these post-combustion NO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 172.16 433.85 Td (x) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 175.89 435.50 Td ( controls would be approximately $200 million. ) Tj ET Q q 0 0 0 rg BT 400.87 435.50 Td (This amount is not included in our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 421.70 Td (current estimates for environmental capital expenditures in Management) Tj ET Q q 0 0 0 rg BT 391.51 421.70 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 471.05 421.70 Td (Analysis of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 407.90 Td (Financial Condition and Results of Operations - Capital Expenditures in Item 7. Under the FIP) Tj ET Q q 0 0 0 rg BT 491.55 407.90 Td (, ) Tj ET Q q 0 0 0 rg BT 496.66 407.90 Td (APS has five ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.10 Td (years from December 2012 to complete installation of the equipment and achieve the BAR) Tj ET Q q 0 0 0 rg BT 466.84 394.10 Td (T) Tj ET Q q 0 0 0 rg BT 473.66 394.10 Td ( emission limit for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.30 Td (NO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 66.11 378.65 Td (x) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 69.85 380.30 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 352.70 Td (APS believes that EP) Tj ET Q q 0 0 0 rg BT 182.51 352.70 Td (A) Tj ET Q q 0 0 0 rg BT 189.54 352.70 Td () Tj ET Q q 0 0 0 rg BT 192.74 352.70 Td (s final rule as it applies to Cholla is unsupported and that EP) Tj ET Q q 0 0 0 rg BT 469.56 352.70 Td (A) Tj ET Q q 0 0 0 rg BT 477.24 352.70 Td ( had no basis for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 338.90 Td (disapproving ) Tj ET Q q 0 0 0 rg BT 111.79 338.90 Td (Arizona) Tj ET Q q 0 0 0 rg BT 152.03 338.90 Td (s SIP) Tj ET Q q 0 0 0 rg BT 175.57 338.90 Td ( and promulgating a FIP) Tj ET Q q 0 0 0 rg BT 286.94 338.90 Td ( that is inconsistent with the state) Tj ET Q q 0 0 0 rg BT 442.81 338.90 Td (s considered BAR) Tj ET Q q 0 0 0 rg BT 525.81 338.90 Td (T) Tj ET Q q 0 0 0 rg BT 532.63 338.90 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.10 Td (determinations under the regional haze program. ) Tj ET Q q 0 0 0 rg BT 278.15 325.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 334.88 325.10 Td (, on February1, 2013, ) Tj ET Q q 0 0 0 rg BT 439.01 325.10 Td (APS filed a Petition for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.30 Td (Review of the final BAR) Tj ET Q q 0 0 0 rg BT 163.79 311.30 Td (T) Tj ET Q q 0 0 0 rg BT 170.61 311.30 Td ( rule in the United States Court of ) Tj ET Q q 0 0 0 rg BT 328.39 311.30 Td (Appeals for the Ninth Circuit. Briefing in the case ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 297.50 Td (was completed in February2014, and the court scheduled oral ar) Tj ET Q q 0 0 0 rg BT 347.24 297.50 Td (gument for March 9, 2015.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 269.90 Td (In September 2014, ) Tj ET Q q 0 0 0 rg BT 178.13 269.90 Td (APS met with EP) Tj ET Q q 0 0 0 rg BT 257.90 269.90 Td (A) Tj ET Q q 0 0 0 rg BT 265.57 269.90 Td ( to propose a compromise BAR) Tj ET Q q 0 0 0 rg BT 410.21 269.90 Td (T) Tj ET Q q 0 0 0 rg BT 417.03 269.90 Td ( strategy wherein, pending ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.10 Td (certain regulatory approvals, ) Tj ET Q q 0 0 0 rg BT 183.62 256.10 Td (APS would permanently close Cholla Unit 2 by ) Tj ET Q q 0 0 0 rg BT 405.30 256.10 Td (April 2016 and cease burning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.30 Td (coal at Units 1 and 3 by the mid-2020s. \(See Note 3 for details related to the resulting regulatory asset.\) ) Tj ET Q q 0 0 0 rg BT 535.90 242.30 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 228.50 Td (made the proposal with the understanding that additional emission control equipment to reduce regional haze is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 214.70 Td (unlikely to be required in the future because retiring and converting the units as contemplated in the proposal is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 200.90 Td (more cost-ef) Tj ET Q q 0 0 0 rg BT 107.09 200.90 Td (fective than, and will result in increased visibility improvement over) Tj ET Q q 0 0 0 rg BT 421.52 200.90 Td (, the current BAR) Tj ET Q q 0 0 0 rg BT 502.59 200.90 Td (T) Tj ET Q q 0 0 0 rg BT 509.41 200.90 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.10 Td (requirements for NO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 145.30 185.45 Td (x) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 149.04 187.10 Td ( imposed on the Cholla units under EP) Tj ET Q q 0 0 0 rg BT 325.27 187.10 Td (A) Tj ET Q q 0 0 0 rg BT 332.30 187.10 Td () Tj ET Q q 0 0 0 rg BT 335.49 187.10 Td (s BAR) Tj ET Q q 0 0 0 rg BT 365.80 187.10 Td (T) Tj ET Q q 0 0 0 rg BT 372.62 187.10 Td ( FIP) Tj ET Q q 0 0 0 rg BT 390.84 187.10 Td (. Because ) Tj ET Q q 0 0 0 rg BT 440.02 187.10 Td (APS) Tj ET Q q 0 0 0 rg BT 464.31 187.10 Td (s proposal involves ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.30 Td (state and federal rule-making processes, ) Tj ET Q q 0 0 0 rg BT 235.99 173.30 Td (APS is unable to predict when or whether it may ultimately be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 159.50 Td (approved.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 133.70 Td (Four Corners) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 149.08 133.70 Td (. On ) Tj ET Q q 0 0 0 rg BT 174.00 133.70 Td (August6, 2012, EP) Tj ET Q q 0 0 0 rg BT 262.71 133.70 Td (A) Tj ET Q q 0 0 0 rg BT 270.38 133.70 Td ( issued its final BAR) Tj ET Q q 0 0 0 rg BT 365.53 133.70 Td (T) Tj ET Q q 0 0 0 rg BT 372.35 133.70 Td ( determination for Four Corners, which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 119.90 Td (requires ) Tj ET Q q 0 0 0 rg BT 88.78 119.90 Td (APS to install and operate SCR control technology on Units 4 and 5 by July31, 2018. \(APS retired ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 106.10 Td (Four Corners Units 1-3 on December30, 2013.\) ) Tj ET Q q 0 0 0 rg BT 275.95 106.10 Td (APS estimates that its 63% share of the cost of these controls ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 92.30 Td (for Four Corners Units 4 and 5 would be at least $350 million. ) Tj ET Q q 0 0 0 rg BT 341.77 92.30 Td (APS expects to incur certain of these costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 78.50 Td (during the 2015 through 2017 timeframe, which are included in our capital expenditure estimates. \(See ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 64.70 Td (Management) Tj ET Q q 0 0 0 rg BT 117.83 64.70 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 197.38 64.70 Td (Analysis of Financial Condition and Results of Operations - Capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 50.90 Td (Expenditures in Item 7 for such estimates and for a discussion of the capital expenditures related to the ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 47 0 obj <>] /Rotate 0 /Contents 48 0 R>> endobj 48 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 734.55 Td (agreement to purchase El Paso's 7% interest in Units 4 and 5.\) For PM emissions, EP) Tj ET Q q 0 0 0 rg BT 442.76 734.55 Td (A) Tj ET Q q 0 0 0 rg BT 450.43 734.55 Td ( is requiring Units 4 and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (5 to meet an emission limit of 0.015 lb/MMBtu and a 20 percent opacity limit, both of which are achievable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (through operation of Four Corners' existing baghouses. ) Tj ET Q q 0 0 0 rg BT 308.06 706.95 Td (Although unrelated to BAR) Tj ET Q q 0 0 0 rg BT 434.81 706.95 Td (T) Tj ET Q q 0 0 0 rg BT 440.98 706.95 Td (, the final BAR) Tj ET Q q 0 0 0 rg BT 510.56 706.95 Td (T) Tj ET Q q 0 0 0 rg BT 517.38 706.95 Td ( rule also ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (imposes a 20 percent opacity limitation on certain fugitive dust emissions from Four Corners) Tj ET Q q 0 0 0 rg BT 480.14 693.15 Td ( coal and material ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (handling operations.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 653.55 Td (Navajo Plant) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 146.51 653.55 Td (. On January18, 2013, EP) Tj ET Q q 0 0 0 rg BT 269.07 653.55 Td (A) Tj ET Q q 0 0 0 rg BT 276.74 653.55 Td ( issued a proposed BAR) Tj ET Q q 0 0 0 rg BT 387.21 653.55 Td (T) Tj ET Q q 0 0 0 rg BT 394.03 653.55 Td ( rule for the Navajo Plant, which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 639.75 Td (would require installation of SCR technology in order to achieve a new) Tj ET Q q 0 0 0 rg BT 376.75 639.75 Td (, more stringent plant-wide NO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 520.79 638.10 Td (x) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 524.52 639.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 625.95 Td (emission limit. In addition, EP) Tj ET Q q 0 0 0 rg BT 191.88 625.95 Td (A) Tj ET Q q 0 0 0 rg BT 199.55 625.95 Td ( proposed a better than BAR) Tj ET Q q 0 0 0 rg BT 335.23 625.95 Td (T alternative and solicited comment on other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 612.15 Td (options that could set longer time frames for installing pollution controls if the Navajo Plant can achieve ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 598.35 Td (additional emission reductions. On July26, 2013, a group of stakeholders, including SRP) Tj ET Q q 0 0 0 rg BT 462.51 598.35 Td (, the operating agent ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 584.55 Td (for the Navajo Plant, submitted to EP) Tj ET Q q 0 0 0 rg BT 220.61 584.55 Td (A) Tj ET Q q 0 0 0 rg BT 228.28 584.55 Td ( two suggested alternatives to BAR) Tj ET Q q 0 0 0 rg BT 390.16 584.55 Td (T) Tj ET Q q 0 0 0 rg BT 396.33 584.55 Td (, which would achieve greater NO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 554.08 582.90 Td (x) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.82 584.55 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 570.75 Td (emission reductions and result in greater reasonable progress toward the national visibility goal than EP) Tj ET Q q 0 0 0 rg BT 525.59 570.75 Td (A) Tj ET Q q 0 0 0 rg BT 532.62 570.75 Td () Tj ET Q q 0 0 0 rg BT 535.81 570.75 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 556.95 Td (proposed BAR) Tj ET Q q 0 0 0 rg BT 117.49 556.95 Td (T) Tj ET Q q 0 0 0 rg BT 124.31 556.95 Td ( determination. On July 28, 2014, EP) Tj ET Q q 0 0 0 rg BT 297.02 556.95 Td (A) Tj ET Q q 0 0 0 rg BT 304.69 556.95 Td ( issued a final Navajo Plant BAR) Tj ET Q q 0 0 0 rg BT 456.67 556.95 Td (T) Tj ET Q q 0 0 0 rg BT 463.49 556.95 Td ( rule approving the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 543.15 Td (alternative stakeholder plan. Depending on which alternate operating scenario the Navajo Plant participants ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 529.35 Td (ultimately select, the required NO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 205.66 527.70 Td (x) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 209.40 529.35 Td ( emission reductions could be achieved by either closing one of the three ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 515.55 Td (750 MW) Tj ET Q q 0 0 0 rg BT 90.50 515.55 Td ( units at the plant or curtailing ener) Tj ET Q q 0 0 0 rg BT 251.56 515.55 Td (gy production across all three units, such that the emission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 501.75 Td (reductions are commensurate with the closure of approximately one of the Navajo Plant units. ) Tj ET Q q 0 0 0 rg BT 487.03 501.75 Td (APS estimates ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 487.95 Td (that its share of costs for upgrades at the Navajo Plant could be up to approximately $200 million. ) Tj ET Q q 0 0 0 rg BT 505.37 487.95 Td (These costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 474.15 Td (are not included in the capital expenditure estimates described in "Management's Discussion and ) Tj ET Q q 0 0 0 rg BT 496.67 474.15 Td (Analysis of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 460.35 Td (Financial Condition and Results of Operations - Capital Expenditures" in Item 7 since the majority of such ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 446.55 Td (costs are expected to be incurred after 2017. In October 2014, a coalition of environmental groups, an Indian ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 432.75 Td (tribe, and others filed petitions for review in the United States Court of ) Tj ET Q q 0 0 0 rg BT 377.83 432.75 Td (Appeals for the Ninth Circuit asking the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 418.95 Td (Court to review EP) Tj ET Q q 0 0 0 rg BT 136.92 418.95 Td (A) Tj ET Q q 0 0 0 rg BT 143.95 418.95 Td () Tj ET Q q 0 0 0 rg BT 147.15 418.95 Td (s final BAR) Tj ET Q q 0 0 0 rg BT 201.40 418.95 Td (T) Tj ET Q q 0 0 0 rg BT 208.22 418.95 Td ( rule for the Navajo Plant. ) Tj ET Q q 0 0 0 rg BT 333.20 418.95 Td (W) Tj ET Q q 0 0 0 rg BT 343.13 418.95 Td (e cannot predict the outcome of this petition.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 393.15 Td (Mercury and other Hazardous ) Tj ET Q q 0 0 0 rg BT 232.04 393.15 Td (Air Pollutants.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 301.71 393.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 307.46 393.15 Td (On December16, 201) Tj ET Q q 0 0 0 rg BT 408.59 393.15 Td (1, EP) Tj ET Q q 0 0 0 rg BT 432.45 393.15 Td (A) Tj ET Q q 0 0 0 rg BT 440.12 393.15 Td ( issued the final Mercury ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 379.35 Td (and ) Tj ET Q q 0 0 0 rg BT 68.35 379.35 Td (Air ) Tj ET Q q 0 0 0 rg BT 86.34 379.35 Td (T) Tj ET Q q 0 0 0 rg BT 92.56 379.35 Td (oxics Standards \(MA) Tj ET Q q 0 0 0 rg BT 194.14 379.35 Td (TS\) rule, which established maximum achievable control technology ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 365.55 Td (\(MACT\) standards to regulate emissions of mercury and other hazardous air pollutants from fossil-fired ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 351.75 Td (power plants. Generally) Tj ET Q q 0 0 0 rg BT 161.80 351.75 Td (, plants will have three years after the ef) Tj ET Q q 0 0 0 rg BT 345.84 351.75 Td (fective date of the rule to achieve compliance. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 337.95 Td (In the case of Cholla and Four Corners, ) Tj ET Q q 0 0 0 rg BT 233.14 337.95 Td (APS will have until ) Tj ET Q q 0 0 0 rg BT 325.79 337.95 Td (April 16, 2016, or a total of four years after the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 324.15 Td (MA) Tj ET Q q 0 0 0 rg BT 66.76 324.15 Td (TS rule) Tj ET Q q 0 0 0 rg BT 104.13 324.15 Td (s ef) Tj ET Q q 0 0 0 rg BT 120.20 324.15 Td (fective date, to comply with the new MACT) Tj ET Q q 0 0 0 rg BT 323.76 324.15 Td ( standards because the respective permitting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 310.35 Td (authorities granted ) Tj ET Q q 0 0 0 rg BT 137.65 310.35 Td (APS) Tj ET Q q 0 0 0 rg BT 161.94 310.35 Td (s requests for one-year compliance date extensions. Similarly) Tj ET Q q 0 0 0 rg BT 446.37 310.35 Td (, SRP) Tj ET Q q 0 0 0 rg BT 472.16 310.35 Td ( will have until ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 296.55 Td (April16, 2016 to comply with MA) Tj ET Q q 0 0 0 rg BT 209.54 296.55 Td (TS at the Navajo Plant, as a result of a one-year extension granted by EP) Tj ET Q q 0 0 0 rg BT 542.85 296.55 Td (A) Tj ET Q q 0 0 0 rg BT 550.52 296.55 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 282.75 Td (and the Navajo Nation EP) Tj ET Q q 0 0 0 rg BT 168.53 282.75 Td (A. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 255.15 Td (The MA) Tj ET Q q 0 0 0 rg BT 123.51 255.15 Td (TS rule will require ) Tj ET Q q 0 0 0 rg BT 216.13 255.15 Td (APS to install additional pollution control equipment. ) Tj ET Q q 0 0 0 rg BT 468.17 255.15 Td (APS has installed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 241.35 Td (certain of the equipment necessary to meet the anticipated standards. ) Tj ET Q q 0 0 0 rg BT 370.75 241.35 Td (APS estimates that the cost for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 227.55 Td (remaining equipment necessary to meet these standards is approximately $130 million for Cholla, which would ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 213.75 Td (be avoided if EP) Tj ET Q q 0 0 0 rg BT 124.77 213.75 Td (A) Tj ET Q q 0 0 0 rg BT 132.44 213.75 Td ( approves ) Tj ET Q q 0 0 0 rg BT 179.07 213.75 Td (APS) Tj ET Q q 0 0 0 rg BT 203.37 213.75 Td (s compromise proposal discussed under Regional Haze Rules - Cholla ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 199.95 Td (above. ) Tj ET Q q 0 0 0 rg BT 85.38 199.95 Td (These costs are not included in the capital expenditure estimates described in Management) Tj ET Q q 0 0 0 rg BT 510.74 199.95 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 186.15 Td (Discussion and ) Tj ET Q q 0 0 0 rg BT 121.70 186.15 Td (Analysis of Financial Condition and Results of Operations - Capital Expenditures in Item 7. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 172.35 Td (No additional equipment is needed for Four Corners Units 4 and 5 to comply with these rules. SRP) Tj ET Q q 0 0 0 rg BT 506.58 172.35 Td (, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 158.55 Td (operating agent for the Navajo Plant, is still evaluating compliance options under the rules.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 130.95 Td (Coal Combustion ) Tj ET Q q 0 0 0 rg BT 170.93 130.95 Td (W) Tj ET Q q 0 0 0 rg BT 180.30 130.95 Td (aste.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 201.70 130.95 Td ( On December 19, 2014, EP) Tj ET Q q 0 0 0 rg BT 332.87 130.95 Td (A) Tj ET Q q 0 0 0 rg BT 340.54 130.95 Td ( issued its final regulations governing the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 117.15 Td (handling and disposal of coal combustion residuals \(CCR\), such as fly ash and bottom ash. ) Tj ET Q q 0 0 0 rg BT 483.03 117.15 Td (The rule ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 103.35 Td (regulates CCR as a non-hazardous waste under Subtitle D of the Resource Conservation and Recovery ) Tj ET Q q 0 0 0 rg BT 523.76 103.35 Td (Act ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 89.55 Td (\(RCRA\) and establishes national minimum criteria for existing and new CCR landfills and surface ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 75.75 Td (impoundments and all lateral expansions consisting of location restrictions, design and operating criteria, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 61.95 Td (groundwater monitoring and corrective action, closure requirements and post closure care, and recordkeeping, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 48.15 Td (notification, and Internet posting requirements. ) Tj ET Q q 0 0 0 rg BT 271.57 48.15 Td (The rule generally requires any existing unlined CCR surface ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 49 0 obj <>] /Rotate 0 /Contents 50 0 R>> endobj 50 0 obj <> stream 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 49.50 734.55 Td (impoundment that is contaminating groundwater above a regulated constituent) Tj ET Q q 0 0 0 rg BT 414.22 734.55 Td (s groundwater protection ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (standard to stop receiving CCR and either retrofit or close, and further requires the closure of any CCR landfill ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (or surface impoundment that cannot meet the applicable performance criteria for location restrictions or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (structural integrity) Tj ET Q q 0 0 0 rg BT 134.02 693.15 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.55 Td (Because the Subtitle D rule is self-implementing, the CCR standards apply directly to the regulated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (facility) Tj ET Q q 0 0 0 rg BT 81.32 651.75 Td (, and facilities are directly responsible for ensuring that their operations comply with the rule) Tj ET Q q 0 0 0 rg BT 511.50 651.75 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 117.95 637.95 Td (While EP) Tj ET Q q 0 0 0 rg BT 161.29 637.95 Td (A) Tj ET Q q 0 0 0 rg BT 168.96 637.95 Td ( has chosen to regulate the disposal of CCR in landfills and surface impoundments as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (non-hazardous waste under the final rule, the agency makes clear that it will continue to evaluate any risks ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (associated with CCR disposal and leaves open the possibility that it may regulate CCR as a hazardous waste ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (under RCRA) Tj ET Q q 0 0 0 rg BT 109.24 596.55 Td ( Subtitle C in the future. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 568.95 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 527.88 568.95 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 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 49.50 541.35 Td ($15 million, and its share of incremental costs for Cholla is approximately $85 million. ) Tj ET Q q 0 0 0 rg BT 455.46 541.35 Td (APS expects to incur ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (certain of these costs during the 2015-2017 timeframe, which are included in the capital expenditure estimates ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (in Management) Tj ET Q q 0 0 0 rg BT 129.65 513.75 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 209.20 513.75 Td (Analysis of Financial Condition and Results of Operations - Capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (Expenditures in Item 7. ) Tj ET Q q 0 0 0 rg BT 168.10 499.95 Td (The amount for Cholla contemplates the closure of Unit 2 in 2016. \(See EP) Tj ET Q q 0 0 0 rg BT 521.23 499.95 Td (A) Tj ET Q q 0 0 0 rg BT 528.90 499.95 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (Environmental Regulation - Regional Haze Rules - Cholla discussion above.\) ) Tj ET Q q 0 0 0 rg BT 416.58 486.15 Td (The Navajo Plant currently ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (disposes of CCR in a dry landfill storage area. ) Tj ET Q q 0 0 0 rg BT 267.01 472.35 Td (At this time, SRP) Tj ET Q q 0 0 0 rg BT 346.25 472.35 Td (, the operating agent for the Navajo Plant, is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (analyzing the operations that would be covered by the rule and any resulting compliance costs. ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 430.95 Td (Ef) Tj ET Q q 0 0 0 rg BT 96.79 430.95 Td (fluent Limitation Guidelines.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 234.49 430.95 Td ( On ) Tj ET Q q 0 0 0 rg BT 256.54 430.95 Td (April19, 2013, EP) Tj ET Q q 0 0 0 rg BT 342.06 430.95 Td (A) Tj ET Q q 0 0 0 rg BT 349.73 430.95 Td ( proposed revised ef) Tj ET Q q 0 0 0 rg BT 442.45 430.95 Td (fluent limitation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.15 Td (guidelines establishing technology-based wastewater dischar) Tj ET Q q 0 0 0 rg BT 329.05 417.15 Td (ge limitations for fossil-fired EGUs. EP) Tj ET Q q 0 0 0 rg BT 513.57 417.15 Td (A) Tj ET Q q 0 0 0 rg BT 520.60 417.15 Td () Tj ET Q q 0 0 0 rg BT 523.80 417.15 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (proposal of) Tj ET Q q 0 0 0 rg BT 101.35 403.35 Td (fers numerous options \(four of which are preferred alternatives\) that tar) Tj ET Q q 0 0 0 rg BT 439.62 403.35 Td (get metals and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (pollutants in wastewater streams originating from fly ash and bottom ash handling activities, scrubber ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.75 Td (activities, and non-chemical metal cleaning wastes operations. ) Tj ET Q q 0 0 0 rg BT 341.81 375.75 Td (The preferred alternatives dif) Tj ET Q q 0 0 0 rg BT 476.02 375.75 Td (fer with respect to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (the scope of requirements that would be applicable to existing dischar) Tj ET Q q 0 0 0 rg BT 370.57 361.95 Td (ges of pollutants found in wastestreams ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (generated at existing power plants. ) Tj ET Q q 0 0 0 rg BT 214.61 348.15 Td (All four alternatives would establish a zero dischar) Tj ET Q q 0 0 0 rg BT 453.59 348.15 Td (ge ef) Tj ET Q q 0 0 0 rg BT 481.15 348.15 Td (fluent limit for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td (all pollutants in fly ash transport water) Tj ET Q q 0 0 0 rg BT 226.44 334.35 Td (. However) Tj ET Q q 0 0 0 rg BT 276.75 334.35 Td (, requirements governing bottom ash transport water dif) Tj ET Q q 0 0 0 rg BT 533.32 334.35 Td (fer ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.55 Td (depending on which alternative EP) Tj ET Q q 0 0 0 rg BT 209.40 320.55 Td (A) Tj ET Q q 0 0 0 rg BT 217.07 320.55 Td ( ultimately chooses and could range from ef) Tj ET Q q 0 0 0 rg BT 419.01 320.55 Td (fluent limits based on Best ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (A) Tj ET Q q 0 0 0 rg BT 56.95 306.75 Td (vailable ) Tj ET Q q 0 0 0 rg BT 96.02 306.75 Td (T) Tj ET Q q 0 0 0 rg BT 102.24 306.75 Td (echnology Economically ) Tj ET Q q 0 0 0 rg BT 219.13 306.75 Td (Achievable to zero dischar) Tj ET Q q 0 0 0 rg BT 346.96 306.75 Td (ge ef) Tj ET Q q 0 0 0 rg BT 374.52 306.75 Td (fluent limits. Depending on which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.95 Td (alternative EP) Tj ET Q q 0 0 0 rg BT 113.27 292.95 Td (A) Tj ET Q q 0 0 0 rg BT 120.94 292.95 Td ( finalizes, Four Corners may be required to change equipment and operating practices af) Tj ET Q q 0 0 0 rg BT 526.92 292.95 Td (fecting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.15 Td (boilers and ash handling systems, as well as change its waste disposal techniques. ) Tj ET Q q 0 0 0 rg BT 430.65 279.15 Td (W) Tj ET Q q 0 0 0 rg BT 440.58 279.15 Td (e cannot currently predict ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.35 Td (the shape of EP) Tj ET Q q 0 0 0 rg BT 120.30 265.35 Td (A) Tj ET Q q 0 0 0 rg BT 127.33 265.35 Td () Tj ET Q q 0 0 0 rg BT 130.53 265.35 Td (s final rule or whether this action will have a material adverse impact on our financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (position, results of operations, or cash flows. EP) Tj ET Q q 0 0 0 rg BT 273.63 251.55 Td (A) Tj ET Q q 0 0 0 rg BT 281.30 251.55 Td ( is currently subject to a consent decree deadline to finalize ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (the revised guidelines by September 30, 2015. ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 210.15 Td (Ozone National ) Tj ET Q q 0 0 0 rg BT 162.39 210.15 Td (Ambient ) Tj ET Q q 0 0 0 rg BT 205.10 210.15 Td (Air Quality Standards. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 317.89 210.15 Td (On December 17, 2014, EP) Tj ET Q q 0 0 0 rg BT 443.31 210.15 Td (A) Tj ET Q q 0 0 0 rg BT 450.98 210.15 Td ( published a proposal to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.35 Td (revise the primary ground-level ozone national ambient air quality standards \(NAAQS\) currently set at a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.55 Td (level of 75 parts per billion \(ppb\). ) Tj ET Q q 0 0 0 rg BT 220.79 182.55 Td (The rule would set a new) Tj ET Q q 0 0 0 rg BT 335.96 182.55 Td (, more stringent primary standard \(intended to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.75 Td (protect human health\) within the range of 65 to 70 ppb and revise the secondary standard \(intended to protect ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 154.95 Td (human welfare\) to within the same range. In addition, EP) Tj ET Q q 0 0 0 rg BT 314.79 154.95 Td (A) Tj ET Q q 0 0 0 rg BT 322.46 154.95 Td ( is soliciting comment on alternative standard levels ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.15 Td (below 65 ppb, and as low as 60 ppb. EP) Tj ET Q q 0 0 0 rg BT 234.99 141.15 Td (A) Tj ET Q q 0 0 0 rg BT 242.66 141.15 Td ( is accepting public comment on the proposed new ranges for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.35 Td (standards until March 17, 2015, and is under a court-ordered deadline of October 1, 2015 to finalize the rule. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.55 Td (As ozone standards become more stringent, our fossil generation units may come under increasing pressure to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.75 Td (reduce emissions of nitrogen oxides and volatile or) Tj ET Q q 0 0 0 rg BT 284.03 99.75 Td (ganic compounds and to generate emission of) Tj ET Q q 0 0 0 rg BT 493.97 99.75 Td (fsets for new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.95 Td (projects or facility expansions located in ozone nonattainment areas. ) Tj ET Q q 0 0 0 rg BT 369.17 85.95 Td (At this time, ) Tj ET Q q 0 0 0 rg BT 428.59 85.95 Td (APS is unable to predict ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.15 Td (what impact the adoption of these standards may have on its financial position, results of operations, or cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.35 Td (flows.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 51 0 obj <>] /Rotate 0 /Contents 52 0 R>> endobj 52 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (22) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 720.75 Td (New Source Review) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 179.41 720.75 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 188.03 720.75 Td (On ) Tj ET Q q 0 0 0 rg BT 204.33 720.75 Td (April6, 2009, ) Tj ET Q q 0 0 0 rg BT 271.09 720.75 Td (APS received a request from EP) Tj ET Q q 0 0 0 rg BT 418.54 720.75 Td (A) Tj ET Q q 0 0 0 rg BT 426.21 720.75 Td ( under Section 1) Tj ET Q q 0 0 0 rg BT 500.84 720.75 Td (14 of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (Clean ) Tj ET Q q 0 0 0 rg BT 78.57 706.95 Td (Air ) Tj ET Q q 0 0 0 rg BT 96.14 706.95 Td (Act seeking detailed information regarding projects at and operations of Four Corners. ) Tj ET Q q 0 0 0 rg BT 499.60 706.95 Td (This request ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (is part of a national enforcement initiative that EP) Tj ET Q q 0 0 0 rg BT 277.74 693.15 Td (A) Tj ET Q q 0 0 0 rg BT 285.41 693.15 Td ( has undertaken under the Clean ) Tj ET Q q 0 0 0 rg BT 435.50 693.15 Td (Air ) Tj ET Q q 0 0 0 rg BT 453.07 693.15 Td (Act. EP) Tj ET Q q 0 0 0 rg BT 490.67 693.15 Td (A) Tj ET Q q 0 0 0 rg BT 498.34 693.15 Td ( has taken the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (position that many utilities have made certain physical or operational changes at their plants that should have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (triggered additional regulatory requirements under the NSR provisions of the Clean ) Tj ET Q q 0 0 0 rg BT 436.26 665.55 Td (Air ) Tj ET Q q 0 0 0 rg BT 453.83 665.55 Td (Act. Other electric ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (utilities have received and responded to similar Section 1) Tj ET Q q 0 0 0 rg BT 312.23 651.75 Td (14 requests, and several of them have been the subject ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (of notices of violation and lawsuits filed by EP) Tj ET Q q 0 0 0 rg BT 264.36 637.95 Td (A. ) Tj ET Q q 0 0 0 rg BT 280.66 637.95 Td (APS responded to EP) Tj ET Q q 0 0 0 rg BT 378.95 637.95 Td (A) Tj ET Q q 0 0 0 rg BT 385.98 637.95 Td () Tj ET Q q 0 0 0 rg BT 389.18 637.95 Td (s request in ) Tj ET Q q 0 0 0 rg BT 443.80 637.95 Td (August 2009 and is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (currently unable to predict any resulting actions the EP) Tj ET Q q 0 0 0 rg BT 301.38 624.15 Td (A) Tj ET Q q 0 0 0 rg BT 309.05 624.15 Td ( may take, including any potential litigation. ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 596.55 Td (Clean ) Tj ET Q q 0 0 0 rg BT 116.06 596.55 Td (Air ) Tj ET Q q 0 0 0 rg BT 133.85 596.55 Td (Act Citizen Lawsuit) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 226.51 596.55 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 229.39 596.55 Td ( On October4, 201) Tj ET Q q 0 0 0 rg BT 320.31 596.55 Td (1, Earthjustice, on behalf of several environmental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (or) Tj ET Q q 0 0 0 rg BT 58.87 582.75 Td (ganizations, filed a lawsuit in the United States District Court for the District of New Mexico against ) Tj ET Q q 0 0 0 rg BT 525.18 582.75 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (and the other Four Corners participants alleging violations of the NSR provisions of the Clean ) Tj ET Q q 0 0 0 rg BT 484.84 568.95 Td (Air ) Tj ET Q q 0 0 0 rg BT 502.41 568.95 Td (Act. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (Subsequent to filing its original Complaint, on January6, 2012, Earthjustice filed a First ) Tj ET Q q 0 0 0 rg BT 458.03 555.15 Td (Amended Complaint ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.35 Td (adding claims for violations of the Clean ) Tj ET Q q 0 0 0 rg BT 239.54 541.35 Td (Air ) Tj ET Q q 0 0 0 rg BT 257.11 541.35 Td (Act) Tj ET Q q 0 0 0 rg BT 276.91 541.35 Td (s NSPS program. ) Tj ET Q q 0 0 0 rg BT 361.58 541.35 Td (Among other things, the environmental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (plaintif) Tj ET Q q 0 0 0 rg BT 82.51 527.55 Td (fs seek to have the court enjoin operations at Four Corners until ) Tj ET Q q 0 0 0 rg BT 377.62 527.55 Td (APS applies for and obtains any ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (required NSR permits and complies with the NSPS. ) Tj ET Q q 0 0 0 rg BT 293.34 513.75 Td (The plaintif) Tj ET Q q 0 0 0 rg BT 347.10 513.75 Td (fs further request the court to order the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (payment of civil penalties, including a beneficial mitigation project. On ) Tj ET Q q 0 0 0 rg BT 383.87 499.95 Td (April2, 2012, ) Tj ET Q q 0 0 0 rg BT 450.64 499.95 Td (APS and the other Four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (Corners participants filed motions to dismiss. ) Tj ET Q q 0 0 0 rg BT 263.95 486.15 Td (The case is being held in abeyance while the parties seek to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (negotiate a settlement. On March30, 2013, upon joint motion of the parties, the court issued an order deeming ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (the motions to dismiss withdrawn without prejudice during pendency of the stay) Tj ET Q q 0 0 0 rg BT 418.30 458.55 Td (. ) Tj ET Q q 0 0 0 rg BT 426.29 458.55 Td (At such time as the stay is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (lifted, ) Tj ET Q q 0 0 0 rg BT 78.89 444.75 Td (APS and the other Four Corners participants may reinstate their motions to dismiss. ) Tj ET Q q 0 0 0 rg BT 469.32 444.75 Td (W) Tj ET Q q 0 0 0 rg BT 479.25 444.75 Td (e are unable to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.95 Td (predict the outcome of this matter) Tj ET Q q 0 0 0 rg BT 204.39 430.95 Td (.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 403.35 Td (Superfund-Related Matters. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 223.52 403.35 Td (The Comprehensive Environmental Response Compensation and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (Liability ) Tj ET Q q 0 0 0 rg BT 91.35 389.55 Td (Act \(Superfund\) establishes liability for the cleanup of hazardous substances found contaminating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.75 Td (the soil, water or air) Tj ET Q q 0 0 0 rg BT 141.15 375.75 Td (. ) Tj ET Q q 0 0 0 rg BT 149.57 375.75 Td (Those who generated, transported or disposed of hazardous substances at a contaminated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (site are among those who are potentially responsible parties \(PRPs\). PRPs may be strictly) Tj ET Q q 0 0 0 rg BT 473.87 361.95 Td (, and often are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (jointly and severally) Tj ET Q q 0 0 0 rg BT 142.65 348.15 Td (, liable for clean-up. On September3, 2003, EP) Tj ET Q q 0 0 0 rg BT 362.92 348.15 Td (A) Tj ET Q q 0 0 0 rg BT 370.59 348.15 Td ( advised ) Tj ET Q q 0 0 0 rg BT 410.83 348.15 Td (APS that EP) Tj ET Q q 0 0 0 rg BT 467.29 348.15 Td (A) Tj ET Q q 0 0 0 rg BT 474.96 348.15 Td ( considers ) Tj ET Q q 0 0 0 rg BT 523.51 348.15 Td (APS to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td (be a PRP) Tj ET Q q 0 0 0 rg BT 91.24 334.35 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 180.04 339.56 Td (nd) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 187.51 334.35 Td (Street Superfund Site, Operable Unit 3 \(OU3\) in Phoenix, ) Tj ET Q q 0 0 0 rg BT 469.22 334.35 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 514.25 334.35 Td (APS has ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.55 Td (facilities that are within this Superfund site. ) Tj ET Q q 0 0 0 rg BT 255.51 320.55 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 341.23 320.55 Td (W) Tj ET Q q 0 0 0 rg BT 351.16 320.55 Td (est have agreed with EP) Tj ET Q q 0 0 0 rg BT 460.60 320.55 Td (A) Tj ET Q q 0 0 0 rg BT 468.27 320.55 Td ( to perform certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (investigative activities of the ) Tj ET Q q 0 0 0 rg BT 184.28 306.75 Td (APS facilities within OU3. In addition, on September23, 2009, ) Tj ET Q q 0 0 0 rg BT 481.66 306.75 Td (APS agreed with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.95 Td (EP) Tj ET Q q 0 0 0 rg BT 61.87 292.95 Td (A) Tj ET Q q 0 0 0 rg BT 69.54 292.95 Td ( and one other PRP) Tj ET Q q 0 0 0 rg BT 157.91 292.95 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 49.50 279.15 Td (remedial investigation and feasibility study work plan. ) Tj ET Q q 0 0 0 rg BT 305.76 279.15 Td (W) Tj ET Q q 0 0 0 rg BT 315.69 279.15 Td (e estimate that our costs related to this investigation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.35 Td (and study will be approximately $2 million. ) Tj ET Q q 0 0 0 rg BT 256.59 265.35 Td (W) Tj ET Q q 0 0 0 rg BT 266.52 265.35 Td (e anticipate incurring additional expenditures in the future, but ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (because the overall investigation is not complete and ultimate remediation requirements are not yet finalized, at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (the present time expenditures related to this matter cannot be reasonably estimated.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 224.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 210.75 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 210.75 Td (August6, 2013, the Roosevelt Irrigation District \(RID\) filed a lawsuit in ) Tj ET Q q 0 0 0 rg BT 447.38 210.75 Td (Arizona District Court ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.95 Td (against ) Tj ET Q q 0 0 0 rg BT 84.32 196.95 Td (APS and 24 other defendants, alleging that RID) Tj ET Q q 0 0 0 rg BT 307.25 196.95 Td (s groundwater wells were contaminated by the release ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 183.15 Td (of hazardous substances from facilities owned or operated by the defendants. ) Tj ET Q q 0 0 0 rg BT 409.19 183.15 Td (The lawsuit also alleges that, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.35 Td (under Superfund laws, the defendants are jointly and severally liable to RID. ) Tj ET Q q 0 0 0 rg BT 407.93 169.35 Td (The allegations against ) Tj ET Q q 0 0 0 rg BT 516.20 169.35 Td (APS arise ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.55 Td (out of ) Tj ET Q q 0 0 0 rg BT 78.89 155.55 Td (APS) Tj ET Q q 0 0 0 rg BT 103.18 155.55 Td (s current and former ownership of facilities in and around OU3. ) Tj ET Q q 0 0 0 rg BT 402.21 155.55 Td (W) Tj ET Q q 0 0 0 rg BT 412.15 155.55 Td (e are unable to predict the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.75 Td (outcome of this matter; however) Tj ET Q q 0 0 0 rg BT 198.50 141.75 Td (, we do not expect the outcome to have a material impact on our financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.95 Td (position, results of operations or cash flows.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 100.35 Td (Manufactured Gas Plant) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 203.72 100.35 Td ( ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 206.59 100.35 Td (Sites.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 231.83 100.35 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 237.58 100.35 Td (Certain properties which ) Tj ET Q q 0 0 0 rg BT 353.51 100.35 Td (APS now owns or which were previously ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.55 Td (owned by it or its corporate predecessors were at one time sites of, or sites associated with, manufactured gas ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.75 Td (plants. ) Tj ET Q q 0 0 0 rg BT 84.96 72.75 Td (APS is taking action to voluntarily remediate these sites. ) Tj ET Q q 0 0 0 rg BT 350.39 72.75 Td (APS does not expect these matters to have a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.95 Td (material adverse ef) Tj ET Q q 0 0 0 rg BT 136.77 58.95 Td (fect on its financial position, results of operations or cash flows.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 53 0 obj <>] /Rotate 0 /Contents 54 0 R>> endobj 54 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (23) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 721.35 Td (Navajo Nation Envir) Tj ET Q q 0 0 0 rg BT 183.08 721.35 Td (onmental Issues) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.75 Td (Four Corners and the Navajo Plant are located on the Navajo Reservation and are held under easements ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.95 Td (granted by the federal government, as well as leases from the Navajo Nation. See Ener) Tj ET Q q 0 0 0 rg BT 455.80 679.95 Td (gy Sources and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.15 Td (Resource Planning - Generation Facilities - Coal-Fueled Generating Facilities above for additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.35 Td (information regarding these plants.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 626.55 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 626.55 Td (In July 1995, the Navajo Nation enacted the Navajo Nation ) Tj ET Q q 0 0 0 rg BT 360.47 626.55 Td (Air Pollution Prevention and Control ) Tj ET Q q 0 0 0 rg BT 533.29 626.55 Td (Act, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 612.75 Td (the Navajo Nation Safe Drinking ) Tj ET Q q 0 0 0 rg BT 204.19 612.75 Td (W) Tj ET Q q 0 0 0 rg BT 214.12 612.75 Td (ater ) Tj ET Q q 0 0 0 rg BT 233.60 612.75 Td (Act, and the Navajo Nation Pesticide ) Tj ET Q q 0 0 0 rg BT 406.38 612.75 Td (Act \(collectively) Tj ET Q q 0 0 0 rg BT 482.58 612.75 Td (, the Navajo ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 598.95 Td (Acts\). ) Tj ET Q q 0 0 0 rg BT 87.93 598.95 Td (The Navajo ) Tj ET Q q 0 0 0 rg BT 144.14 598.95 Td (Acts purport to give the Navajo Nation Environmental Protection ) Tj ET Q q 0 0 0 rg BT 447.23 598.95 Td (Agency authority to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 585.15 Td (promulgate regulations covering air quality) Tj ET Q q 0 0 0 rg BT 248.03 585.15 Td (, drinking water) Tj ET Q q 0 0 0 rg BT 320.71 585.15 Td (, and pesticide activities, including those activities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 571.35 Td (that occur at Four Corners and the Navajo Plant. On October17, 1995, the Four Corners participants and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 557.55 Td (Navajo Plant participants each filed a lawsuit in the District Court of the Navajo Nation, ) Tj ET Q q 0 0 0 rg BT 458.08 557.55 Td (W) Tj ET Q q 0 0 0 rg BT 468.48 557.55 Td (indow Rock ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 543.75 Td (District, challenging the applicability of the Navajo ) Tj ET Q q 0 0 0 rg BT 288.39 543.75 Td (Acts as to Four Corners and the Navajo Plant. ) Tj ET Q q 0 0 0 rg BT 505.05 543.75 Td (The Court ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 529.95 Td (has stayed these proceedings pursuant to a request by the parties, and the parties are seeking to negotiate a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 516.15 Td (settlement. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 490.35 Td (In ) Tj ET Q q 0 0 0 rg BT 97.32 490.35 Td (April 2000, the Navajo Nation Council approved operating permit regulations under the Navajo ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 476.55 Td (Nation ) Tj ET Q q 0 0 0 rg BT 83.04 476.55 Td (Air Pollution Prevention and Control ) Tj ET Q q 0 0 0 rg BT 255.86 476.55 Td (Act. ) Tj ET Q q 0 0 0 rg BT 280.46 476.55 Td (APS believes the Navajo Nation exceeded its authority when ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 462.75 Td (it adopted the operating permit regulations. On July12, 2000, the Four Corners participants and the Navajo ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 448.95 Td (Plant participants each filed a petition with the Navajo Supreme Court for review of these regulations. ) Tj ET Q q 0 0 0 rg BT 524.50 448.95 Td (Those ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 435.15 Td (proceedings have been stayed, pending the settlement negotiations mentioned above. ) Tj ET Q q 0 0 0 rg BT 445.19 435.15 Td (APS cannot currently ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 421.35 Td (predict the outcome of this matter) Tj ET Q q 0 0 0 rg BT 204.39 421.35 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 395.55 Td (On May18, 2005, ) Tj ET Q q 0 0 0 rg BT 171.75 395.55 Td (APS, Salt River Project, as the operating agent for the Navajo Plant, and the Navajo ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 381.75 Td (Nation executed a ) Tj ET Q q 0 0 0 rg BT 135.19 381.75 Td (V) Tj ET Q q 0 0 0 rg BT 142.01 381.75 Td (oluntary Compliance ) Tj ET Q q 0 0 0 rg BT 241.02 381.75 Td (Agreement to resolve their disputes regarding the Navajo Nation ) Tj ET Q q 0 0 0 rg BT 540.90 381.75 Td (Air ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.95 Td (Pollution Prevention and Control ) Tj ET Q q 0 0 0 rg BT 204.11 367.95 Td (Act. ) Tj ET Q q 0 0 0 rg BT 228.71 367.95 Td (As a result of this agreement, ) Tj ET Q q 0 0 0 rg BT 365.72 367.95 Td (APS sought, and the courts granted, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.15 Td (dismissal of the pending litigation in the Navajo Nation Supreme Court and the Navajo Nation District Court, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.35 Td (to the extent the claims relate to the Clean ) Tj ET Q q 0 0 0 rg BT 245.26 340.35 Td (Air ) Tj ET Q q 0 0 0 rg BT 262.83 340.35 Td (Act. ) Tj ET Q q 0 0 0 rg BT 287.85 340.35 Td (The agreement does not address or resolve any dispute ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 326.55 Td (relating to other Navajo ) Tj ET Q q 0 0 0 rg BT 161.27 326.55 Td (Acts. ) Tj ET Q q 0 0 0 rg BT 190.35 326.55 Td (APS cannot currently predict the outcome of this matter) Tj ET Q q 0 0 0 rg BT 447.12 326.55 Td (. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 301.35 Td (W) Tj ET Q q 0 0 0 rg BT 95.89 301.35 Td (ater) Tj ET Q q 0 0 0 rg BT 114.62 301.35 Td ( Supply) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 275.55 Td (Assured supplies of water are important for ) Tj ET Q q 0 0 0 rg BT 287.66 275.55 Td (APS) Tj ET Q q 0 0 0 rg BT 311.95 275.55 Td (s generating plants. ) Tj ET Q q 0 0 0 rg BT 406.17 275.55 Td (At the present time, ) Tj ET Q q 0 0 0 rg BT 499.11 275.55 Td (APS has ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 261.75 Td (adequate water to meet its needs. However) Tj ET Q q 0 0 0 rg BT 248.94 261.75 Td (, the Four Corners region, in which Four Corners is located, has ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 247.95 Td (been experiencing drought conditions that may af) Tj ET Q q 0 0 0 rg BT 277.31 247.95 Td (fect the water supply for the plants if adequate moisture is not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 234.15 Td (received in the watershed that supplies the area. ) Tj ET Q q 0 0 0 rg BT 274.31 234.15 Td (APS is continuing to work with area stakeholders to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 220.35 Td (implement agreements to minimize the ef) Tj ET Q q 0 0 0 rg BT 240.58 220.35 Td (fect, if any) Tj ET Q q 0 0 0 rg BT 289.32 220.35 Td (, on future operations of the plant. ) Tj ET Q q 0 0 0 rg BT 451.35 220.35 Td (The ef) Tj ET Q q 0 0 0 rg BT 480.83 220.35 Td (fect of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 206.55 Td (drought cannot be fully assessed at this time, and ) Tj ET Q q 0 0 0 rg BT 277.55 206.55 Td (APS cannot predict the ultimate outcome, if any) Tj ET Q q 0 0 0 rg BT 498.44 206.55 Td (, of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 192.75 Td (drought or whether the drought will adversely af) Tj ET Q q 0 0 0 rg BT 272.52 192.75 Td (fect the amount of power available, or the price thereof, from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 178.95 Td (Four Corners.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 153.15 Td (Conflicting claims to limited amounts of water in the southwestern United States have resulted in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 139.35 Td (numerous court actions, which, in addition to future supply conditions, have the potential to impact ) Tj ET Q q 0 0 0 rg BT 508.15 139.35 Td (APS) Tj ET Q q 0 0 0 rg BT 532.44 139.35 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 125.55 Td (operations. ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 97.95 Td (San Juan River ) Tj ET Q q 0 0 0 rg BT 162.08 97.95 Td (Adjudication. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.06 97.95 Td (Both groundwater and surface water in areas important to ) Tj ET Q q 0 0 0 rg BT 499.35 97.95 Td (APS) Tj ET Q q 0 0 0 rg BT 523.64 97.95 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 84.15 Td (operations have been the subject of inquiries, claims, and legal proceedings, which will require a number of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 70.35 Td (years to resolve. ) Tj ET Q q 0 0 0 rg BT 129.66 70.35 Td (APS is one of a number of parties in a proceeding, filed March13, 1975, before the Eleventh ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 56.55 Td (Judicial District Court in New Mexico to adjudicate rights to a stream system from which water for Four ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 55 0 obj <>] /Rotate 0 /Contents 56 0 R>> endobj 56 0 obj <> stream 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 q 0 0 0 rg BT 49.50 734.55 Td (Corners is derived. ) Tj ET Q q 0 0 0 rg BT 141.81 734.55 Td (An agreement reached with the Navajo Nation in 1985, however) Tj ET Q q 0 0 0 rg BT 438.33 734.55 Td (, provides that if Four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (Corners loses a portion of its rights in the adjudication, the Navajo Nation will provide, for an agreed upon ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (cost, suf) Tj ET Q q 0 0 0 rg BT 87.62 706.95 Td (ficient water from its allocation to of) Tj ET Q q 0 0 0 rg BT 256.67 706.95 Td (fset the loss. In addition, ) Tj ET Q q 0 0 0 rg BT 374.86 706.95 Td (APS is a party to a water contract that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (allows the company to secure water for Four Corners in the event of a water shortage and is a party to a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (shortage sharing agreement, which provides for the apportionment of water supplies to Four Corners in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (event of a water shortage in the San Juan River Basin.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 637.95 Td (Gila River ) Tj ET Q q 0 0 0 rg BT 136.82 637.95 Td (Adjudication. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 206.79 637.95 Td (A) Tj ET Q q 0 0 0 rg BT 214.46 637.95 Td ( summons served on ) Tj ET Q q 0 0 0 rg BT 310.93 637.95 Td (APS in early 1986 required all water claimants in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (Lower Gila River ) Tj ET Q q 0 0 0 rg BT 133.28 624.15 Td (W) Tj ET Q q 0 0 0 rg BT 143.22 624.15 Td (atershed in ) Tj ET Q q 0 0 0 rg BT 195.59 624.15 Td (Arizona to assert any claims to water on or before January 20, 1987, in an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (action pending in ) Tj ET Q q 0 0 0 rg BT 131.59 610.35 Td (Arizona Superior Court. Palo ) Tj ET Q q 0 0 0 rg BT 271.91 610.35 Td (V) Tj ET Q q 0 0 0 rg BT 278.94 610.35 Td (erde is located within the geographic area subject to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (summons. ) Tj ET Q q 0 0 0 rg BT 101.58 596.55 Td (APS) Tj ET Q q 0 0 0 rg BT 125.88 596.55 Td (s rights and the rights of the other Palo ) Tj ET Q q 0 0 0 rg BT 306.77 596.55 Td (V) Tj ET Q q 0 0 0 rg BT 313.80 596.55 Td (erde participants to the use of groundwater and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 582.75 Td (fluent at Palo ) Tj ET Q q 0 0 0 rg BT 122.21 582.75 Td (V) Tj ET Q q 0 0 0 rg BT 129.24 582.75 Td (erde are potentially at issue in this action. ) Tj ET Q q 0 0 0 rg BT 325.33 582.75 Td (As operating agent of Palo ) Tj ET Q q 0 0 0 rg BT 450.64 582.75 Td (V) Tj ET Q q 0 0 0 rg BT 457.67 582.75 Td (erde, ) Tj ET Q q 0 0 0 rg BT 482.58 582.75 Td (APS filed claims ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (that dispute the court) Tj ET Q q 0 0 0 rg BT 149.47 568.95 Td (s jurisdiction over the Palo ) Tj ET Q q 0 0 0 rg BT 275.42 568.95 Td (V) Tj ET Q q 0 0 0 rg BT 282.45 568.95 Td (erde participants) Tj ET Q q 0 0 0 rg BT 361.74 568.95 Td ( groundwater rights and their contractual ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (rights to ef) Tj ET Q q 0 0 0 rg BT 99.12 555.15 Td (fluent relating to Palo ) Tj ET Q q 0 0 0 rg BT 201.75 555.15 Td (V) Tj ET Q q 0 0 0 rg BT 208.78 555.15 Td (erde. ) Tj ET Q q 0 0 0 rg BT 236.56 555.15 Td (Alternatively) Tj ET Q q 0 0 0 rg BT 296.49 555.15 Td (, ) Tj ET Q q 0 0 0 rg BT 301.60 555.15 Td (APS seeks confirmation of such rights. Several of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.35 Td (APS) Tj ET Q q 0 0 0 rg BT 73.79 541.35 Td (s other power plants are also located within the geographic area subject to the summons. ) Tj ET Q q 0 0 0 rg BT 485.45 541.35 Td (APS) Tj ET Q q 0 0 0 rg BT 509.74 541.35 Td (s claims ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (dispute the court) Tj ET Q q 0 0 0 rg BT 129.35 527.55 Td (s jurisdiction over ) Tj ET Q q 0 0 0 rg BT 214.63 527.55 Td (APS) Tj ET Q q 0 0 0 rg BT 238.92 527.55 Td (s groundwater rights with respect to these plants. ) Tj ET Q q 0 0 0 rg BT 468.89 527.55 Td (Alternatively) Tj ET Q q 0 0 0 rg BT 528.81 527.55 Td (, ) Tj ET Q q 0 0 0 rg BT 533.93 527.55 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (seeks confirmation of such rights. In November 1999, the ) Tj ET Q q 0 0 0 rg BT 319.70 513.75 Td (Arizona Supreme Court issued a decision ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (confirming that certain groundwater rights may be available to the federal government and Indian tribes. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (addition, in September 2000, the ) Tj ET Q q 0 0 0 rg BT 201.86 486.15 Td (Arizona Supreme Court issued a decision af) Tj ET Q q 0 0 0 rg BT 404.13 486.15 Td (firming the lower court) Tj ET Q q 0 0 0 rg BT 514.31 486.15 Td (s criteria ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (for resolving groundwater claims. Litigation on both of these issues has continued in the trial court. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (December 2005, ) Tj ET Q q 0 0 0 rg BT 127.74 458.55 Td (APS and other parties filed a petition with the ) Tj ET Q q 0 0 0 rg BT 340.78 458.55 Td (Arizona Supreme Court requesting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (interlocutory review of a September 2005 trial court order regarding procedures for determining whether ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.95 Td (groundwater pumping is af) Tj ET Q q 0 0 0 rg BT 173.53 430.95 Td (fecting surface water rights. ) Tj ET Q q 0 0 0 rg BT 307.44 430.95 Td (The ) Tj ET Q q 0 0 0 rg BT 327.56 430.95 Td (Arizona Supreme Court denied the petition in May ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.15 Td (2007, and the trial court is now proceeding with implementation of its 2005 order) Tj ET Q q 0 0 0 rg BT 423.82 417.15 Td (. No trial date concerning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (APS) Tj ET Q q 0 0 0 rg BT 73.79 403.35 Td (s water rights claims has been set in this matter) Tj ET Q q 0 0 0 rg BT 290.01 403.35 Td (. ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 375.75 Td (Little Colorado River ) Tj ET Q q 0 0 0 rg BT 188.25 375.75 Td (Adjudication.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 252.47 375.75 Td ( ) Tj ET Q q 0 0 0 rg BT 257.59 375.75 Td (APS has filed claims to water in the Little Colorado River ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 361.95 Td (atershed in ) Tj ET Q q 0 0 0 rg BT 111.81 361.95 Td (Arizona in an action pending in the ) Tj ET Q q 0 0 0 rg BT 276.28 361.95 Td (Apache County) Tj ET Q q 0 0 0 rg BT 347.40 361.95 Td (, ) Tj ET Q q 0 0 0 rg BT 352.51 361.95 Td (Arizona, Superior Court, which was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (originally filed on September 5, 1985. ) Tj ET Q q 0 0 0 rg BT 229.96 348.15 Td (APS) Tj ET Q q 0 0 0 rg BT 254.25 348.15 Td (s groundwater resource utilized at Cholla is within the geographic ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td (area subject to the adjudication and, therefore, is potentially at issue in the case. ) Tj ET Q q 0 0 0 rg BT 421.22 334.35 Td (APS) Tj ET Q q 0 0 0 rg BT 445.51 334.35 Td (s claims dispute the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.55 Td (court) Tj ET Q q 0 0 0 rg BT 76.32 320.55 Td (s jurisdiction over its groundwater rights. ) Tj ET Q q 0 0 0 rg BT 271.17 320.55 Td (Alternatively) Tj ET Q q 0 0 0 rg BT 331.10 320.55 Td (, ) Tj ET Q q 0 0 0 rg BT 336.21 320.55 Td (APS seeks confirmation of such rights. Other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (claims have been identified as ready for litigation in motions filed with the court. No trial date concerning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.95 Td (APS) Tj ET Q q 0 0 0 rg BT 73.79 292.95 Td (s water rights claims has been set in this matter) Tj ET Q q 0 0 0 rg BT 290.01 292.95 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.35 Td (Although the above matters remain subject to further evaluation, ) Tj ET Q q 0 0 0 rg BT 385.06 265.35 Td (APS does not expect that the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (described litigation will have a material adverse impact on its financial position, results of operations, or cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (flows.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 222.75 210.75 Td (BUSINESS OF) Tj ET Q q 0 0 0 rg BT 296.78 210.75 Td ( OTHER SUBSIDIARIES) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 183.75 Td (Bright Canyon Energy) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 156.15 Td (On July31, 2014, Pinnacle ) Tj ET Q q 0 0 0 rg BT 212.74 156.15 Td (W) Tj ET Q q 0 0 0 rg BT 222.68 156.15 Td (est announced its creation of a wholly-owned subsidiary) Tj ET Q q 0 0 0 rg BT 480.94 156.15 Td (, BCE. BCE will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 142.35 Td (focus on new growth opportunities that leverage the Company) Tj ET Q q 0 0 0 rg BT 339.49 142.35 Td (s core expertise in the electric ener) Tj ET Q q 0 0 0 rg BT 498.93 142.35 Td (gy industry) Tj ET Q q 0 0 0 rg BT 550.25 142.35 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 128.55 Td (BCE) Tj ET Q q 0 0 0 rg BT 75.06 128.55 Td (s first initiative is a 50/50 joint venture with MidAmerican ) Tj ET Q q 0 0 0 rg BT 346.98 128.55 Td (T) Tj ET Q q 0 0 0 rg BT 353.60 128.55 Td (ransmission, LLC. ) Tj ET Q q 0 0 0 rg BT 444.44 128.55 Td (The joint venture, named ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 114.75 Td (T) Tj ET Q q 0 0 0 rg BT 56.12 114.75 Td (ransCanyon, intends to focus on transmission opportunities within the ) Tj ET Q q 0 0 0 rg BT 380.45 114.75 Td (W) Tj ET Q q 0 0 0 rg BT 390.38 114.75 Td (estern Electricity Coordinating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.95 Td (Council, excluding the retail service territories of the venture partners) Tj ET Q q 0 0 0 rg BT 373.09 100.95 Td ( utility af) Tj ET Q q 0 0 0 rg BT 415.04 100.95 Td (filiates. ) Tj ET Q q 0 0 0 rg BT 454.75 100.95 Td (The joint venture ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 87.15 Td (submitted a bid into CAISO's competitive solicitation process to design, build and own a new 500 kV) Tj ET Q q 0 0 0 rg BT 516.75 87.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 73.35 Td (transmission line between ) Tj ET Q q 0 0 0 rg BT 171.19 73.35 Td (Arizona and California, the Delaney to Colorado River ) Tj ET Q q 0 0 0 rg BT 426.79 73.35 Td (T) Tj ET Q q 0 0 0 rg BT 433.41 73.35 Td (ransmission Line. ) Tj ET Q q 0 0 0 rg BT 520.72 73.35 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 59.55 Td (winner of the bidding process is expected to be announced in 2015. ) Tj ET Q q 0 0 0 rg BT 364.83 59.55 Td (This transmission line will connect a ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 57 0 obj <>] /Rotate 0 /Contents 58 0 R>> endobj 58 0 obj <> stream 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 49.50 734.55 Td (planned Delaney substation near Palo ) Tj ET Q q 0 0 0 rg BT 225.26 734.55 Td (V) Tj ET Q q 0 0 0 rg BT 232.29 734.55 Td (erde in ) Tj ET Q q 0 0 0 rg BT 266.14 734.55 Td (Arizona to the existing Colorado River substation located just ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (west of Blythe, California) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.95 720.75 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 700.95 Td (El Dorado) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 687.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 673.35 Td (El Dorado owns minority interests in several ener) Tj ET Q q 0 0 0 rg BT 313.64 673.35 Td (gy-related investments and ) Tj ET Q q 0 0 0 rg BT 439.79 673.35 Td (Arizona community-based ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 659.55 Td (ventures. El Dorado) Tj ET Q q 0 0 0 rg BT 147.86 659.55 Td (s short-term goal is to prudently realize the value of its existing investments. ) Tj ET Q q 0 0 0 rg BT 504.62 659.55 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 645.75 Td (December31, 2014, El Dorado had total assets of approximately $9 million. El Dorado is not expected to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 631.95 Td (contribute in any material way to our future financial performance, nor will it require any material amounts of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 618.15 Td (capital over the next three years. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 604.35 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 590.55 Td (SunCor) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 576.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 562.95 Td (In February2012, SunCor filed for protection under the United States Bankruptcy Code to complete an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 549.15 Td (orderly liquidation of its business. On March25, 2013, the bankruptcy plan submitted to the court and agreed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 535.35 Td (to by SunCor and its creditors \(the Joint Plan\) became ef) Tj ET Q q 0 0 0 rg BT 320.12 535.35 Td (fective. ) Tj ET Q q 0 0 0 rg BT 359.82 535.35 Td (The Joint Plan provides for the full release ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 521.55 Td (of Pinnacle ) Tj ET Q q 0 0 0 rg BT 104.22 521.55 Td (W) Tj ET Q q 0 0 0 rg BT 114.16 521.55 Td (est and its af) Tj ET Q q 0 0 0 rg BT 171.75 521.55 Td (filiates from any and all claims related to SunCor) Tj ET Q q 0 0 0 rg BT 398.04 521.55 Td (, SunCor) Tj ET Q q 0 0 0 rg BT 439.37 521.55 Td () Tj ET Q q 0 0 0 rg BT 442.56 521.55 Td (s subsidiaries, and their ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 507.75 Td (respective estates. SunCor and its subsidiaries have been formally dissolved.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 241.40 481.95 Td (OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 341.17 481.95 Td (TION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 468.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 454.35 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 454.35 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 454.35 Td (est, ) Tj ET Q q 0 0 0 rg BT 155.59 454.35 Td (APS and El Dorado are all incorporated in the State of ) Tj ET Q q 0 0 0 rg BT 408.21 454.35 Td (Arizona. BCE is incorporated in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 440.55 Td (Delaware. ) Tj ET Q q 0 0 0 rg BT 101.54 440.55 Td (Additional information for each of these companies is provided below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 394.05 76.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 126.00 394.05 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 394.05 236.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 394.05 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 394.05 94.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 394.05 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 394.05 95.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 336.05 76.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 126.00 336.05 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 336.05 236.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 336.05 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 336.05 94.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 336.05 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 336.05 95.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 287.05 76.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 126.00 287.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 287.05 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 287.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 287.05 94.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 287.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 287.05 95.00 -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 130 394.04999999999995 m 366 394.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 394.04999999999995 m 464 394.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 394.04999999999995 m 563 394.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 287.04999999999995 m 563 287.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 274.04999999999995 m 563 274.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 272.04999999999995 m 563 272.04999999999995 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 396.77 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 202.60 406.28 Td (PrincipalExecutiveOffice) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 233.55 398.28 Td (Addr) Tj ET Q q 0 0 0 rg BT 251.63 398.28 Td (ess) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.20 406.28 Td (Y) Tj ET Q q 0 0 0 rg BT 409.09 406.28 Td (ear) Tj ET Q q 0 0 0 rg BT 420.05 406.28 Td (of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.50 398.28 Td (Incorporation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.40 422.13 Td (Appr) Tj ET Q q 0 0 0 rg BT 510.48 422.13 Td (oximate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.50 414.13 Td (Number) Tj ET Q q 0 0 0 rg BT 524.80 414.13 Td (of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.20 406.13 Td (Employeesat) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 482.75 398.13 Td (December) Tj ET Q q 0 0 0 rg BT 517.25 398.13 Td (31,2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 384.62 Td (Pinnacle West) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.50 384.62 Td (400 North Fifth Street) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.50 374.62 Td (Phoenix, ) Tj ET Q q 0 0 0 rg BT 169.73 374.62 Td (AZ 85004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.50 384.62 Td (1985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 384.62 Td (83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 360.62 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.50 360.62 Td (400 North Fifth Street) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.50 350.62 Td (P) Tj ET Q q 0 0 0 rg BT 136.95 350.62 Td (.O.Box 53999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.50 340.62 Td (Phoenix, ) Tj ET Q q 0 0 0 rg BT 169.73 340.62 Td (AZ 85072-3999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.50 360.62 Td (1920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 360.62 Td (6,279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 326.62 Td (BCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.50 325.72 Td (400 North Fifth Street) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.50 315.72 Td (Phoenix, ) Tj ET Q q 0 0 0 rg BT 169.73 315.72 Td (AZ 85004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.50 326.62 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 326.62 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 301.62 Td (El Dorado) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.50 301.62 Td (400 North Fifth Street) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.50 291.62 Td (Phoenix, ) Tj ET Q q 0 0 0 rg BT 169.73 291.62 Td (AZ 85004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.50 301.62 Td (1983) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 301.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 277.62 Td (Total) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 132.50 283.86 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 416.50 283.86 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 277.62 Td (6,366) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 259.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 245.95 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 245.95 Td (The ) Tj ET Q q 0 0 0 rg BT 105.62 245.95 Td (APS number includes employees at jointly-owned generating facilities \(approximately 2,830 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 232.15 Td (employees\) for which ) Tj ET Q q 0 0 0 rg BT 152.01 232.15 Td (APS serves as the generating facility manager) Tj ET Q q 0 0 0 rg BT 362.79 232.15 Td (. ) Tj ET Q q 0 0 0 rg BT 370.78 232.15 Td (Approximately 1,673 ) Tj ET Q q 0 0 0 rg BT 471.40 232.15 Td (APS employees are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 218.35 Td (union employees, represented by the International Brotherhood of Electrical ) Tj ET Q q 0 0 0 rg BT 402.48 218.35 Td (W) Tj ET Q q 0 0 0 rg BT 412.42 218.35 Td (orkers \("IBEW"\) or the United ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 204.55 Td (Security Professionals of ) Tj ET Q q 0 0 0 rg BT 166.73 204.55 Td (America \("USP) Tj ET Q q 0 0 0 rg BT 237.76 204.55 Td (A"\). ) Tj ET Q q 0 0 0 rg BT 262.58 204.55 Td (APS is currently negotiating with IBEW) Tj ET Q q 0 0 0 rg BT 448.59 204.55 Td ( representatives over the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 190.75 Td (collective bar) Tj ET Q q 0 0 0 rg BT 111.55 190.75 Td (gaining agreement that expires on March 31, 2015. ) Tj ET Q q 0 0 0 rg BT 348.95 190.75 Td (The Company concluded negotiations with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 176.95 Td (the USP) Tj ET Q q 0 0 0 rg BT 86.47 176.95 Td (A) Tj ET Q q 0 0 0 rg BT 94.14 176.95 Td ( over the terms of a new collective bar) Tj ET Q q 0 0 0 rg BT 270.19 176.95 Td (gaining agreement in May of 2014, and the new agreement is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 163.15 Td (in place until May 31, 2017.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 195.75 137.35 Td (WHERE ) Tj ET Q q 0 0 0 rg BT 242.51 137.35 Td (T) Tj ET Q q 0 0 0 rg BT 249.97 137.35 Td (O FIND MORE INFORMA) Tj ET Q q 0 0 0 rg BT 386.79 137.35 Td (TION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 123.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 109.75 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 109.75 Td (e use our website \() Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 181.66 109.75 Td (www) Tj ET Q q 0 0 0 rg BT 203.82 109.75 Td (.pinnaclewest.com\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 292.60 109.75 Td ( as a channel of distribution for material Company ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 95.95 Td (information. ) Tj ET Q q 0 0 0 rg BT 112.21 95.95 Td (The following filings are available free of char) Tj ET Q q 0 0 0 rg BT 326.90 95.95 Td (ge on our website as soon as reasonably ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 82.15 Td (practicable after they are electronically filed with, or furnished to, the Securities and Exchange Commission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 68.35 Td (\(SEC\): ) Tj ET Q q 0 0 0 rg BT 96.77 68.35 Td (Annual Reports on Form10-K, definitive proxy statements for our annual shareholder meetings, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 54.55 Td (Quarterly Reports on Form10-Q, Current Reports on Form8-K and all amendments to those reports. Our ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 59 0 obj <>] /Rotate 0 /Contents 60 0 R>> endobj 60 0 obj <> stream 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 49.50 734.55 Td (board and committee charters, Code of Ethics for Financial Executives, Code of Ethics and Business Practices ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (and other corporate governance information is also available on the Pinnacle ) Tj ET Q q 0 0 0 rg BT 404.71 720.75 Td (W) Tj ET Q q 0 0 0 rg BT 414.65 720.75 Td (est website. Pinnacle ) Tj ET Q q 0 0 0 rg BT 516.32 720.75 Td (W) Tj ET Q q 0 0 0 rg BT 526.25 720.75 Td (est will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (post any amendments to the Code of Ethics for Financial Executives and Code of Ethics and Business ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (Practices, and any waivers that are required to be disclosed by the rulesof either the SEC or the New ) Tj ET Q q 0 0 0 rg BT 516.28 693.15 Td (Y) Tj ET Q q 0 0 0 rg BT 523.43 693.15 Td (ork ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (Stock Exchange, on its website. ) Tj ET Q q 0 0 0 rg BT 201.32 679.35 Td (The information on Pinnacle ) Tj ET Q q 0 0 0 rg BT 335.89 679.35 Td (W) Tj ET Q q 0 0 0 rg BT 345.82 679.35 Td (est) Tj ET Q q 0 0 0 rg BT 361.79 679.35 Td (s website is not incorporated by reference ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (into this report.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 651.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 637.95 Td (Y) Tj ET Q q 0 0 0 rg BT 92.65 637.95 Td (ou can request a copy of these documents, excluding exhibits, by contacting Pinnacle ) Tj ET Q q 0 0 0 rg BT 487.50 637.95 Td (W) Tj ET Q q 0 0 0 rg BT 497.43 637.95 Td (est at the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (following address: Pinnacle ) Tj ET Q q 0 0 0 rg BT 182.80 624.15 Td (W) Tj ET Q q 0 0 0 rg BT 192.73 624.15 Td (est Capital Corporation, Of) Tj ET Q q 0 0 0 rg BT 317.72 624.15 Td (fice of the Corporate Secretary) Tj ET Q q 0 0 0 rg BT 458.74 624.15 Td (, Mail Station 8602, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (P) Tj ET Q q 0 0 0 rg BT 54.62 610.35 Td (.O.Box 53999, Phoenix, ) Tj ET Q q 0 0 0 rg BT 170.91 610.35 Td (Arizona 85072-3999 \(telephone 602-250-4400\).) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 235.40 576.75 Td (ITEM 1A. RISK F) Tj ET Q q 0 0 0 rg BT 328.79 576.75 Td (ACT) Tj ET Q q 0 0 0 rg BT 352.87 576.75 Td (ORS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 562.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 549.15 Td (In addition to the factors af) Tj ET Q q 0 0 0 rg BT 210.16 549.15 Td (fecting specific business operations identified in the description of these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 535.35 Td (operations contained elsewhere in this report, set forth below are risks and uncertainties that could af) Tj ET Q q 0 0 0 rg BT 512.98 535.35 Td (fect our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 521.55 Td (financial results. Unless otherwise indicated or the context otherwise requires, the following risks and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 507.75 Td (uncertainties apply to Pinnacle ) Tj ET Q q 0 0 0 rg BT 193.64 507.75 Td (W) Tj ET Q q 0 0 0 rg BT 203.58 507.75 Td (est and its subsidiaries, including ) Tj ET Q q 0 0 0 rg BT 358.18 507.75 Td (APS.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 493.95 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 49.5 472.3503173828125 m 167.4287109375 472.3503173828125 l s q 0 0 0 rg BT 49.50 474.15 Td (REGULA) Tj ET Q q 0 0 0 rg BT 97.85 474.15 Td (T) Tj ET Q q 0 0 0 rg BT 105.31 474.15 Td (OR) Tj ET Q q 0 0 0 rg BT 122.16 474.15 Td (Y) Tj ET Q q 0 0 0 rg BT 130.04 474.15 Td ( RISKS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 460.35 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 446.55 Td (Our financial condition depends upon ) Tj ET Q q 0 0 0 rg BT 232.79 446.55 Td (APS) Tj ET Q q 0 0 0 rg BT 256.86 446.55 Td (s ability to recover costs in a timely manner from customers ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 432.75 Td (through regulated rates and otherwise execute its business strategy) Tj ET Q q 0 0 0 rg BT 365.36 432.75 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 418.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 405.15 Td (APS is subject to comprehensive regulation by several federal, state and local regulatory agencies that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 391.35 Td (significantly influence its business, liquidity) Tj ET Q q 0 0 0 rg BT 252.22 391.35 Td (, results of operations and its ability to fully recover costs from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 377.55 Td (utility customers in a timely manner) Tj ET Q q 0 0 0 rg BT 215.27 377.55 Td (. ) Tj ET Q q 0 0 0 rg BT 223.68 377.55 Td (The ) Tj ET Q q 0 0 0 rg BT 243.80 377.55 Td (ACC regulates ) Tj ET Q q 0 0 0 rg BT 314.08 377.55 Td (APS) Tj ET Q q 0 0 0 rg BT 338.37 377.55 Td (s retail electric rates and FERC regulates rates ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 363.75 Td (for wholesale power sales and transmission services. ) Tj ET Q q 0 0 0 rg BT 297.44 363.75 Td (The profitability of ) Tj ET Q q 0 0 0 rg BT 387.83 363.75 Td (APS is af) Tj ET Q q 0 0 0 rg BT 431.07 363.75 Td (fected by the rates it may ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 349.95 Td (char) Tj ET Q q 0 0 0 rg BT 69.08 349.95 Td (ge and the timeliness of recovering costs incurred through its rates. Consequently) Tj ET Q q 0 0 0 rg BT 445.51 349.95 Td (, our financial condition ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 336.15 Td (and results of operations are dependent upon the satisfactory resolution of any ) Tj ET Q q 0 0 0 rg BT 411.02 336.15 Td (APS rate proceedings and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 322.35 Td (ancillary matters which may come before the ) Tj ET Q q 0 0 0 rg BT 259.30 322.35 Td (ACC and FERC. ) Tj ET Q q 0 0 0 rg BT 342.05 322.35 Td (Arizona, like certain other states, has a statute ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 308.55 Td (that allows the ) Tj ET Q q 0 0 0 rg BT 118.81 308.55 Td (ACC to reopen prior decisions and modify otherwise final orders under certain circumstances. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 294.75 Td (The ) Tj ET Q q 0 0 0 rg BT 69.62 294.75 Td (ACC must also approve ) Tj ET Q q 0 0 0 rg BT 182.06 294.75 Td (APS) Tj ET Q q 0 0 0 rg BT 206.35 294.75 Td (s issuance of securities and any significant transfer or encumbrance of ) Tj ET Q q 0 0 0 rg BT 531.12 294.75 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 280.95 Td (property used to provide retail electric service, and must approve or receive prior notification of certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 267.15 Td (transactions between us, ) Tj ET Q q 0 0 0 rg BT 163.84 267.15 Td (APS and our respective af) Tj ET Q q 0 0 0 rg BT 283.71 267.15 Td (filiates. Decisions made by the ) Tj ET Q q 0 0 0 rg BT 430.30 267.15 Td (ACC or FERC could have a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 253.35 Td (material adverse impact on our financial condition, results of operations or cash flows.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 233.55 Td (APS) Tj ET Q q 0 0 0 rg BT 73.57 233.55 Td (s ability to conduct its business operations and avoid fines and penalties depends upon compliance with ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 219.75 Td (federal, state or local statutes, regulations and ) Tj ET Q q 0 0 0 rg BT 270.47 219.75 Td (ACC requirements, and obtaining and maintaining certain ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 205.95 Td (regulatory permits, approvals and certificates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 192.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 178.35 Td (APS must comply in good faith with all applicable statutes, regulations, rules, tarif) Tj ET Q q 0 0 0 rg BT 465.70 178.35 Td (fs, and orders of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 164.55 Td (agencies that regulate ) Tj ET Q q 0 0 0 rg BT 151.36 164.55 Td (APS) Tj ET Q q 0 0 0 rg BT 175.65 164.55 Td (s business, including FERC, NRC, EP) Tj ET Q q 0 0 0 rg BT 350.32 164.55 Td (A, the ) Tj ET Q q 0 0 0 rg BT 380.66 164.55 Td (ACC, and state and local governmental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 150.75 Td (agencies. ) Tj ET Q q 0 0 0 rg BT 97.51 150.75 Td (These agencies regulate many aspects of ) Tj ET Q q 0 0 0 rg BT 286.54 150.75 Td (APS) Tj ET Q q 0 0 0 rg BT 310.84 150.75 Td (s utility operations, including safety and performance, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 136.95 Td (emissions, siting and construction of facilities, customer service and the rates that ) Tj ET Q q 0 0 0 rg BT 427.00 136.95 Td (APS can char) Tj ET Q q 0 0 0 rg BT 489.39 136.95 Td (ge retail and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 123.15 Td (wholesale customers. Failure to comply can subject ) Tj ET Q q 0 0 0 rg BT 291.91 123.15 Td (APS to, among other things, fines and penalties. For ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 109.35 Td (example, under the Ener) Tj ET Q q 0 0 0 rg BT 161.69 109.35 Td (gy Policy ) Tj ET Q q 0 0 0 rg BT 207.70 109.35 Td (Act of 2005, FERC can impose penalties \(up to one million dollars per day ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 95.55 Td (per violation\) for failure to comply with mandatory electric reliability standards. ) Tj ET Q q 0 0 0 rg BT 424.10 95.55 Td (APS is also required to have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 81.75 Td (numerous permits, approvals and certificates from these agencies. ) Tj ET Q q 0 0 0 rg BT 357.67 81.75 Td (APS believes the necessary permits, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 67.95 Td (approvals and certificates have been obtained for its existing operations and that ) Tj ET Q q 0 0 0 rg BT 420.58 67.95 Td (APS) Tj ET Q q 0 0 0 rg BT 444.87 67.95 Td (s business is conducted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 54.15 Td (in accordance with applicable laws in all material respects. However) Tj ET Q q 0 0 0 rg BT 367.40 54.15 Td (, changes in regulations or the imposition ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 61 0 obj <>] /Rotate 0 /Contents 62 0 R>> endobj 62 0 obj <> stream 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 49.50 734.55 Td (of new or revised laws or regulations could have an adverse impact on our results of operations. ) Tj ET Q q 0 0 0 rg BT 496.07 734.55 Td (W) Tj ET Q q 0 0 0 rg BT 506.01 734.55 Td (e are also ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (unable to predict the impact on our business and operating results from pending or future regulatory activities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (of any of these agencies) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 159.98 706.95 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.15 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (The operation of ) Tj ET Q q 0 0 0 rg BT 131.17 679.35 Td (APS) Tj ET Q q 0 0 0 rg BT 155.24 679.35 Td (s nuclear power plant exposes it to substantial regulatory oversight and potentially ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (significant liabilities and capital expenditures.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 637.95 Td (The NRC has broad authority under federal law to impose safety-related, security-related and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (licensing requirements for the operation of nuclear generation facilities. Events at nuclear facilities of other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (operators or impacting the industry generally may lead the NRC to impose additional requirements and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (regulations on all nuclear generation facilities, including Palo ) Tj ET Q q 0 0 0 rg BT 335.12 596.55 Td (V) Tj ET Q q 0 0 0 rg BT 342.15 596.55 Td (erde. ) Tj ET Q q 0 0 0 rg BT 369.93 596.55 Td (As a result of the March201) Tj ET Q q 0 0 0 rg BT 501.08 596.55 Td (1 earthquake ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (and tsunamis that caused significant damage to the Fukushima Daiichi Nuclear Power Plant in Japan, various ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (industry or) Tj ET Q q 0 0 0 rg BT 99.44 568.95 Td (ganizations are working to analyze information from the Japan incident and develop action plans for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (U.S. nuclear power plants. ) Tj ET Q q 0 0 0 rg BT 176.62 555.15 Td (Additionally) Tj ET Q q 0 0 0 rg BT 234.00 555.15 Td (, the NRC has been performing its own independent review of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.35 Td (events at Fukushima Daiichi, including a review of the agency) Tj ET Q q 0 0 0 rg BT 340.12 541.35 Td (s processes and regulations in order to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (determine whether the agency should promulgate additional regulations and possibly make more fundamental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (changes to the NRC) Tj ET Q q 0 0 0 rg BT 145.00 513.75 Td (s system of regulation. ) Tj ET Q q 0 0 0 rg BT 254.67 513.75 Td (W) Tj ET Q q 0 0 0 rg BT 264.60 513.75 Td (e cannot predict when or if the NRC will complete its formal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (actions as a result of its review) Tj ET Q q 0 0 0 rg BT 190.55 499.95 Td (. ) Tj ET Q q 0 0 0 rg BT 198.54 499.95 Td (As a result of the Fukushima event, however) Tj ET Q q 0 0 0 rg BT 403.76 499.95 Td (, the NRC has directed nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (power plants to implement the first tier recommendations of the NRC) Tj ET Q q 0 0 0 rg BT 372.72 486.15 Td (s Near ) Tj ET Q q 0 0 0 rg BT 405.08 486.15 Td (T) Tj ET Q q 0 0 0 rg BT 411.30 486.15 Td (erm ) Tj ET Q q 0 0 0 rg BT 431.85 486.15 Td (T) Tj ET Q q 0 0 0 rg BT 438.07 486.15 Td (ask Force. In response to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (these recommendations, Palo ) Tj ET Q q 0 0 0 rg BT 186.62 472.35 Td (V) Tj ET Q q 0 0 0 rg BT 193.65 472.35 Td (erde expects to spend approximately $40 million for capital enhancements to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (the plant over the next two years in addition to the approximate $80 million that has already been spent on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (capital enhancements as of December 31, 2014 \(APS) Tj ET Q q 0 0 0 rg BT 297.32 444.75 Td (s share is 29.1%\). ) Tj ET Q q 0 0 0 rg BT 384.31 444.75 Td (W) Tj ET Q q 0 0 0 rg BT 394.24 444.75 Td (e cannot predict whether these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.95 Td (amounts will increase or whether additional financial and/or operational requirements on Palo ) Tj ET Q q 0 0 0 rg BT 484.25 430.95 Td (V) Tj ET Q q 0 0 0 rg BT 491.28 430.95 Td (erde and ) Tj ET Q q 0 0 0 rg BT 532.79 430.95 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.15 Td (may be imposed.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 403.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 389.55 Td (In the event of noncompliance with its requirements, the NRC has the authority to impose a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.75 Td (progressively increased inspection regime that could ultimately result in the shut-down of a unit or civil ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (penalties, or both, depending upon the NRC) Tj ET Q q 0 0 0 rg BT 255.20 361.95 Td (s assessment of the severity of the situation, until compliance is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (achieved. ) Tj ET Q q 0 0 0 rg BT 98.78 348.15 Td (The increased costs resulting from penalties, a heightened level of scrutiny and implementation of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td (plans to achieve compliance with NRC requirements may adversely af) Tj ET Q q 0 0 0 rg BT 373.43 334.35 Td (fect ) Tj ET Q q 0 0 0 rg BT 392.90 334.35 Td (APS) Tj ET Q q 0 0 0 rg BT 417.20 334.35 Td (s financial condition, results of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.55 Td (operations and cash flows.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 300.75 Td (APS is subject to numerous environmental laws and regulations, and changes in, or liabilities under) Tj ET Q q 0 0 0 rg BT 523.67 300.75 Td (, ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 286.95 Td (existing or new laws or regulations may increase ) Tj ET Q q 0 0 0 rg BT 282.94 286.95 Td (APS) Tj ET Q q 0 0 0 rg BT 307.01 286.95 Td (s cost of operations or impact its business plans.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 273.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 259.35 Td (APS is, or may become, subject to numerous environmental laws and regulations af) Tj ET Q q 0 0 0 rg BT 470.47 259.35 Td (fecting many ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 245.55 Td (aspects of its present and future operations, including air emissions, water quality) Tj ET Q q 0 0 0 rg BT 423.38 245.55 Td (, dischar) Tj ET Q q 0 0 0 rg BT 462.13 245.55 Td (ges of wastewater ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 231.75 Td (and streams originating from fly ash and bottom ash handling facilities, solid waste, hazardous waste, and coal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 217.95 Td (combustion products, which consist of bottom ash, fly ash, and air pollution control wastes. ) Tj ET Q q 0 0 0 rg BT 476.34 217.95 Td (These laws and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 204.15 Td (regulations can result in increased capital, operating, and other costs, particularly with regard to enforcement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 190.35 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 190.35 Td (forts focused on power plant emissions obligations. ) Tj ET Q q 0 0 0 rg BT 300.45 190.35 Td (These laws and regulations generally require ) Tj ET Q q 0 0 0 rg BT 508.66 190.35 Td (APS to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 176.55 Td (obtain and comply with a wide variety of environmental licenses, permits, and other approvals. If there is a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 162.75 Td (delay or failure to obtain any required environmental regulatory approval, or if ) Tj ET Q q 0 0 0 rg BT 413.86 162.75 Td (APS fails to obtain, maintain, or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 148.95 Td (comply with any such approval, operations at af) Tj ET Q q 0 0 0 rg BT 270.29 148.95 Td (fected facilities could be suspended or subject to additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 135.15 Td (expenses. In addition, failure to comply with applicable environmental laws and regulations could result in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 121.35 Td (civil liability as a result of government enforcement actions or private claims or criminal penalties. Both ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 107.55 Td (public of) Tj ET Q q 0 0 0 rg BT 90.49 107.55 Td (ficials and private individuals may seek to enforce applicable environmental laws and regulations. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 93.75 Td (APS cannot predict the outcome \(financial or operational\) of any related litigation that may arise.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 79.95 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 66.15 Td (Envir) Tj ET Q q 0 0 0 rg BT 110.62 66.15 Td (onmental Clean Up.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 206.45 66.15 Td ( ) Tj ET Q q 0 0 0 rg BT 208.69 66.15 Td (APS has been named as a PRP) Tj ET Q q 0 0 0 rg BT 349.45 66.15 Td ( for a Superfund site in Phoenix, ) Tj ET Q q 0 0 0 rg BT 500.85 66.15 Td (Arizona, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 52.35 Td (it could be named a PRP) Tj ET Q q 0 0 0 rg BT 162.46 52.35 Td ( in the future for other environmental clean-up at sites identified by a regulatory body) Tj ET Q q 0 0 0 rg BT 555.15 52.35 Td (. ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 63 0 obj <>] /Rotate 0 /Contents 64 0 R>> endobj 64 0 obj <> stream 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 49.50 734.55 Td () Tj ET Q q 0 0 0 rg BT 51.74 734.55 Td (APS cannot predict with certainty the amount and timing of all future expenditures related to environmental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (matters because of the dif) Tj ET Q q 0 0 0 rg BT 167.44 720.75 Td (ficulty of estimating clean-up costs. ) Tj ET Q q 0 0 0 rg BT 337.46 720.75 Td (There is also uncertainty in quantifying ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (liabilities under environmental laws that impose joint and several liability on all PRPs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.15 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 679.35 Td (Regional Haze.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 156.41 679.35 Td ( ) Tj ET Q q 0 0 0 rg BT 161.52 679.35 Td (APS has received final rulemakings imposing new requirements on Four Corners, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (Cholla and the Navajo Plant. Pursuant to these rules, EP) Tj ET Q q 0 0 0 rg BT 309.72 665.55 Td (A) Tj ET Q q 0 0 0 rg BT 317.39 665.55 Td ( and ) Tj ET Q q 0 0 0 rg BT 339.11 665.55 Td (ADEQ will require these plants to install ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (pollution control equipment that constitutes BAR) Tj ET Q q 0 0 0 rg BT 275.92 651.75 Td (T) Tj ET Q q 0 0 0 rg BT 282.73 651.75 Td ( to lessen the impacts of emissions on visibility surrounding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (the plants. ) Tj ET Q q 0 0 0 rg BT 102.31 637.95 Td (The financial impact of installing and operating the required pollution control equipment could ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (jeopardize the economic viability of these plants or the ability of individual participants to continue their ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (participation in these plants.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 596.55 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 582.75 Td (Coal ) Tj ET Q q 0 0 0 rg BT 110.53 582.75 Td (Ash. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 133.53 582.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 136.28 582.75 Td (In December 2014, EP) Tj ET Q q 0 0 0 rg BT 239.98 582.75 Td (A) Tj ET Q q 0 0 0 rg BT 247.65 582.75 Td ( issued final regulations governing the handling and disposal of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (CCR, which are generated as a result of burning coal and consist of, among other things, fly ash and bottom ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (ash. ) Tj ET Q q 0 0 0 rg BT 73.25 555.15 Td (The rule regulates CCR as a non-hazardous waste. ) Tj ET Q q 0 0 0 rg BT 310.21 555.15 Td (APS currently disposes of CCR in ash ponds and dry ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.35 Td (storage areas at Cholla and Four Corners and in a dry landfill storage area at the Navajo Plant. ) Tj ET Q q 0 0 0 rg BT 488.08 541.35 Td (T) Tj ET Q q 0 0 0 rg BT 494.30 541.35 Td (o the extent ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (the rule requires the closure or modification of these CCR units or the construction of new CCR units beyond ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (what we currently anticipate, ) Tj ET Q q 0 0 0 rg BT 185.21 513.75 Td (APS could incur significant additional costs for CCR disposal. ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 486.15 Td (Effluent Limitation Guidelines.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 228.29 486.15 Td ( EP) Tj ET Q q 0 0 0 rg BT 246.40 486.15 Td (A) Tj ET Q q 0 0 0 rg BT 254.07 486.15 Td ( is expected to finalize revised ef) Tj ET Q q 0 0 0 rg BT 405.22 486.15 Td (fluent limitation guidelines ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (establishing technology-based wastewater dischar) Tj ET Q q 0 0 0 rg BT 278.91 472.35 Td (ge limitations for fossil-fired EGUs in 2015. EP) Tj ET Q q 0 0 0 rg BT 501.12 472.35 Td (A) Tj ET Q q 0 0 0 rg BT 508.79 472.35 Td ( has ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (indicated that it expects the revised standards to tar) Tj ET Q q 0 0 0 rg BT 284.33 458.55 Td (get metals and other pollutants in wastewater streams ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (originating from fly ash and bottom ash handling activities and scrubber) Tj ET Q q 0 0 0 rg BT 381.42 444.75 Td (-related operations. ) Tj ET Q q 0 0 0 rg BT 475.31 444.75 Td (APS currently ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.95 Td (disposes of fly ash waste and bottom ash in ash ponds at Four Corners. Changes required by the rulecould ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.15 Td (significantly increase ash disposal costs at Four Corners.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 403.35 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 389.55 Td (Ozone National ) Tj ET Q q 0 0 0 rg BT 160.68 389.55 Td (Ambient ) Tj ET Q q 0 0 0 rg BT 201.68 389.55 Td (Air Quality Standar) Tj ET Q q 0 0 0 rg BT 292.61 389.55 Td (ds. ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 308.59 389.55 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 311.34 389.55 Td (In December 2014, EP) Tj ET Q q 0 0 0 rg BT 415.03 389.55 Td (A) Tj ET Q q 0 0 0 rg BT 422.70 389.55 Td ( proposed revisions to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.75 Td (national ambient air quality standards, which would set new) Tj ET Q q 0 0 0 rg BT 325.01 375.75 Td (, more stringent standards intended to protect ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (human health and human welfare. Depending on the stringency of the final standards and the implementation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (requirements, ) Tj ET Q q 0 0 0 rg BT 114.65 348.15 Td (APS may be required to invest in new pollution control technologies and to generate emission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td (of) Tj ET Q q 0 0 0 rg BT 58.87 334.35 Td (fsets for new projects or facility expansions located in ozone nonattainment areas.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.70 334.35 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 306.75 Td (New Sour) Tj ET Q q 0 0 0 rg BT 130.12 306.75 Td (ce Review) Tj ET Q q 0 0 0 rg BT 175.55 306.75 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 181.30 306.75 Td ( EP) Tj ET Q q 0 0 0 rg BT 196.54 306.75 Td (A) Tj ET Q q 0 0 0 rg BT 204.21 306.75 Td ( has taken the position that many projects electric utilities have performed are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.95 Td (major modifications that trigger NSR requirements under the Clean ) Tj ET Q q 0 0 0 rg BT 362.17 292.95 Td (Air ) Tj ET Q q 0 0 0 rg BT 379.74 292.95 Td (Act. ) Tj ET Q q 0 0 0 rg BT 404.76 292.95 Td (The utilities generally have taken ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.15 Td (the position that these projects are routine maintenance, repair and replacement and did not result in emissions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.35 Td (increases, and thus are not subject to NSR. In 2009, ) Tj ET Q q 0 0 0 rg BT 292.24 265.35 Td (APS received and responded to a request from EP) Tj ET Q q 0 0 0 rg BT 521.13 265.35 Td (A) Tj ET Q q 0 0 0 rg BT 528.80 265.35 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (regarding projects and operations at Four Corners. Several environmental non-governmental or) Tj ET Q q 0 0 0 rg BT 490.00 251.55 Td (ganizations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (filed suit against the Four Corners participants for alleged violations of the Clean ) Tj ET Q q 0 0 0 rg BT 424.77 237.75 Td (Air ) Tj ET Q q 0 0 0 rg BT 442.34 237.75 Td (Act's NSR and NSPS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.95 Td (programs. If EP) Tj ET Q q 0 0 0 rg BT 124.46 223.95 Td (A) Tj ET Q q 0 0 0 rg BT 132.13 223.95 Td ( seeks to impose NSR requirements at Four Corners or any other ) Tj ET Q q 0 0 0 rg BT 431.73 223.95 Td (APS plant, or if the citizens ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.15 Td (groups prevail in their Clean ) Tj ET Q q 0 0 0 rg BT 183.32 210.15 Td (Air ) Tj ET Q q 0 0 0 rg BT 200.89 210.15 Td (Act lawsuit, capital investments could be required to install new pollution ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.35 Td (control technologies. EP) Tj ET Q q 0 0 0 rg BT 164.06 196.35 Td (A) Tj ET Q q 0 0 0 rg BT 171.74 196.35 Td ( could also seek civil penalties.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 168.75 Td (APS cannot assure that existing environmental regulations will not be revised or that new regulations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 154.95 Td (seeking to protect the environment will not be adopted or become applicable to it. Revised or additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.15 Td (regulations that result in increased compliance costs or additional operating restrictions, particularly if those ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.35 Td (costs incurred by ) Tj ET Q q 0 0 0 rg BT 130.31 127.35 Td (APS are not fully recoverable from ) Tj ET Q q 0 0 0 rg BT 294.45 127.35 Td (APS) Tj ET Q q 0 0 0 rg BT 318.75 127.35 Td (s customers, could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 526.73 127.35 Td (fect on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.55 Td (its financial condition, results of operations or cash flows. Due to current or potential future regulations or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.75 Td (legislation, the economics of continuing to own certain resources, particularly coal facilities, may deteriorate, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.95 Td (warranting early retirement of those plants, which may result in asset impairments. ) Tj ET Q q 0 0 0 rg BT 435.61 85.95 Td (APS would seek recovery ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.15 Td (in rates for the book value of any remaining investments in the plants as well as other costs related to early ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.35 Td (retirement, but cannot predict whether it would obtain such recovery) Tj ET Q q 0 0 0 rg BT 364.26 58.35 Td (.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 65 0 obj <>] /Rotate 0 /Contents 66 0 R>> endobj 66 0 obj <> stream 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 85.50 734.55 Td () Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 49.50 721.35 Td (APS faces physical and operational risks related to climate ef) Tj ET Q q 0 0 0 rg BT 326.42 721.35 Td (fects, and potential financial risks resulting from ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 49.50 708.15 Td (climate change litigation and legislative and regulatory ef) Tj ET Q q 0 0 0 rg BT 310.54 708.15 Td (forts to limit GHG emissions.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 680.55 Td (Concern over climate change has led to significant legislative and regulatory ef) Tj ET Q q 0 0 0 rg BT 449.65 680.55 Td (forts to limit CO2, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.75 Td (which is a major byproduct of the combustion of fossil fuel, and other GHG emissions. ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 640.95 Td (Financial Risks - Potential Gr) Tj ET Q q 0 0 0 rg BT 224.34 640.95 Td (eenhouse Gas Regulation.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 344.75 640.95 Td ( In) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 359.41 640.95 Td ( 2014, EP) Tj ET Q q 0 0 0 rg BT 403.40 640.95 Td (A) Tj ET Q q 0 0 0 rg BT 411.07 640.95 Td ( proposed a rule to limit carbon ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 627.15 Td (dioxide emissions from existing power plants. EP) Tj ET Q q 0 0 0 rg BT 279.71 627.15 Td (A) Tj ET Q q 0 0 0 rg BT 287.38 627.15 Td ( expects to finalize the proposal in summer 2015. EP) Tj ET Q q 0 0 0 rg BT 531.93 627.15 Td (A) Tj ET Q q 0 0 0 rg BT 538.96 627.15 Td () Tj ET Q q 0 0 0 rg BT 542.15 627.15 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 613.35 Td (proposal for ) Tj ET Q q 0 0 0 rg BT 107.63 613.35 Td (Arizona would result in a shift in in-state generation from coal to natural gas and renewable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 599.55 Td (generation. Such a substantial change in ) Tj ET Q q 0 0 0 rg BT 239.20 599.55 Td (APS) Tj ET Q q 0 0 0 rg BT 263.50 599.55 Td (s generation portfolio could require additional capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 585.75 Td (investments and increased operating costs, and thus have a significant financial impact on the Company) Tj ET Q q 0 0 0 rg BT 526.20 585.75 Td (. ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 559.95 Td (Physical and Operational Risks.) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 234.35 559.95 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 239.85 559.95 Td (W) Tj ET Q q 0 0 0 rg BT 249.78 559.95 Td (eather extremes such as drought and high temperature variations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.15 Td (are common occurrences in the Southwest) Tj ET Q q 0 0 0 rg BT 247.18 546.15 Td (s desert area, and these are risks that ) Tj ET Q q 0 0 0 rg BT 416.74 546.15 Td (APS considers in the normal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.35 Td (course of business in the engineering and construction of its electric system. Lar) Tj ET Q q 0 0 0 rg BT 421.03 532.35 Td (ge increases in ambient ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.55 Td (temperatures could require evaluation of certain materials used within its system and represent a greater ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 504.75 Td (challenge.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 478.95 Td (Deregulation or restructuring of the electric industry may result in increased competition, which could have ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 465.15 Td (a significant adverse impact on ) Tj ET Q q 0 0 0 rg BT 199.53 465.15 Td (APS) Tj ET Q q 0 0 0 rg BT 223.60 465.15 Td (s business and its results of operations.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 437.55 Td (In 1999, the ) Tj ET Q q 0 0 0 rg BT 143.00 437.55 Td (ACC approved rulesfor the introduction of retail electric competition in ) Tj ET Q q 0 0 0 rg BT 477.37 437.55 Td (Arizona. Retail ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.75 Td (competition could have a significant adverse financial impact on ) Tj ET Q q 0 0 0 rg BT 348.73 423.75 Td (APS due to an impairment of assets, a loss of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.95 Td (retail customers, lower profit mar) Tj ET Q q 0 0 0 rg BT 203.54 409.95 Td (gins or increased costs of capital. ) Tj ET Q q 0 0 0 rg BT 361.30 409.95 Td (Although some very limited retail ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.15 Td (competition existed in ) Tj ET Q q 0 0 0 rg BT 153.95 396.15 Td (APS) Tj ET Q q 0 0 0 rg BT 178.24 396.15 Td (s service area in 1999 and 2000, there are currently no active retail competitors ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.35 Td (of) Tj ET Q q 0 0 0 rg BT 58.87 382.35 Td (fering unbundled ener) Tj ET Q q 0 0 0 rg BT 160.21 382.35 Td (gy or other utility services to ) Tj ET Q q 0 0 0 rg BT 295.00 382.35 Td (APS) Tj ET Q q 0 0 0 rg BT 319.29 382.35 Td (s customers. On May9, 2013, the ) Tj ET Q q 0 0 0 rg BT 479.32 382.35 Td (ACC voted to re-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.55 Td (examine the facilitation of a deregulated retail electric market in ) Tj ET Q q 0 0 0 rg BT 347.09 368.55 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 392.55 368.55 Td (The ) Tj ET Q q 0 0 0 rg BT 412.67 368.55 Td (ACC subsequently opened a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.75 Td (docket for this matter and received comments from a number of interested parties on the considerations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.95 Td (involved in establishing retail electric deregulation in the state. One of these considerations is whether various ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.15 Td (aspects of a deregulated market, including setting utility rates on a market basis, would be consistent with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.35 Td (the requirements of the ) Tj ET Q q 0 0 0 rg BT 158.08 313.35 Td (Arizona Constitution. On September1) Tj ET Q q 0 0 0 rg BT 337.80 313.35 Td (1, 2013, after receiving legal advice from the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.55 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 92.42 299.55 Td (f, the ) Tj ET Q q 0 0 0 rg BT 118.29 299.55 Td (ACC voted 4-1 to close the current docket and await full ) Tj ET Q q 0 0 0 rg BT 381.13 299.55 Td (Arizona Constitutional authority ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.75 Td (before any further examination of this matter) Tj ET Q q 0 0 0 rg BT 255.79 285.75 Td (. ) Tj ET Q q 0 0 0 rg BT 264.21 285.75 Td (The motion approved by the ) Tj ET Q q 0 0 0 rg BT 396.75 285.75 Td (ACC also included opening one or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 271.95 Td (more new dockets in the future to explore options to of) Tj ET Q q 0 0 0 rg BT 302.24 271.95 Td (fer more rate choices to customers and innovative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.15 Td (changes within the existing cost-of-service regulatory model that could include elements of competition. One ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.35 Td (of these options could be a continuation or expansion of ) Tj ET Q q 0 0 0 rg BT 309.48 244.35 Td (APS) Tj ET Q q 0 0 0 rg BT 333.77 244.35 Td (s existing ) Tj ET Q q 0 0 0 rg BT 379.78 244.35 Td (AG \(Alternative Generation\) 1 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.55 Td (program, which essentially allows up to 200 MW) Tj ET Q q 0 0 0 rg BT 276.70 230.55 Td ( of cumulative load to be served via a buy-through ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.75 Td (arrangement with competitive suppliers of generation. ) Tj ET Q q 0 0 0 rg BT 304.14 216.75 Td (W) Tj ET Q q 0 0 0 rg BT 314.07 216.75 Td (e cannot predict future regulatory or legislative action ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.95 Td (that might result in increased competition.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 189.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 175.35 Td (In 2010, the ) Tj ET Q q 0 0 0 rg BT 143.00 175.35 Td (ACC issued a decision holding that solar vendors that install and operate solar facilities for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.55 Td (non-profit schools and governments pursuant to a specific type of contract that calculates payments based on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.75 Td (the ener) Tj ET Q q 0 0 0 rg BT 86.01 147.75 Td (gy produced are not public service corporations under the ) Tj ET Q q 0 0 0 rg BT 363.51 147.75 Td (Arizona Constitution, and are therefore not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 133.95 Td (regulated by the ) Tj ET Q q 0 0 0 rg BT 125.82 133.95 Td (ACC. ) Tj ET Q q 0 0 0 rg BT 157.46 133.95 Td (A) Tj ET Q q 0 0 0 rg BT 165.13 133.95 Td ( second matter is pending with the ) Tj ET Q q 0 0 0 rg BT 325.15 133.95 Td (ACC to determine whether that ruling should ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.15 Td (extend to solar providers who serve a broader customer base under the same business model. ) Tj ET Q q 0 0 0 rg BT 482.02 120.15 Td (The use of such ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 106.35 Td (products by customers within our territory results in some level of competition. ) Tj ET Q q 0 0 0 rg BT 419.36 106.35 Td (APS cannot predict whether ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 92.55 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 92.55 Td (ACC will deem these vendors public service corporations subject to ) Tj ET Q q 0 0 0 rg BT 390.91 92.55 Td (ACC regulation and when, and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 78.75 Td (extent to which, additional service providers will enter ) Tj ET Q q 0 0 0 rg BT 302.75 78.75 Td (APS) Tj ET Q q 0 0 0 rg BT 327.05 78.75 Td (s service territory) Tj ET Q q 0 0 0 rg BT 406.77 78.75 Td (, increasing the level of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 64.95 Td (competition in the market.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 51.15 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 67 0 obj <>] /Rotate 0 /Contents 68 0 R>> endobj 68 0 obj <> stream 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 0 0 0 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 49.5 732.9503173828125 m 171.0283203125 732.9503173828125 l s q 0 0 0 rg BT 49.50 734.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 88.90 734.75 Td (TIONAL) Tj ET Q q 0 0 0 rg BT 133.64 734.75 Td ( RISKS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.95 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 707.15 Td (APS) Tj ET Q q 0 0 0 rg BT 73.57 707.15 Td (s results of operations can be adversely af) Tj ET Q q 0 0 0 rg BT 270.45 707.15 Td (fected by various factors impacting demand for electricity) Tj ET Q q 0 0 0 rg BT 541.83 707.15 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.35 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 679.55 Td (W) Tj ET Q q 0 0 0 rg BT 94.02 679.55 Td (eather Conditions.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 179.64 679.55 Td ( ) Tj ET Q q 0 0 0 rg BT 185.18 679.55 Td (W) Tj ET Q q 0 0 0 rg BT 195.11 679.55 Td (eather conditions directly influence the demand for electricity and af) Tj ET Q q 0 0 0 rg BT 510.07 679.55 Td (fect the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.75 Td (price of ener) Tj ET Q q 0 0 0 rg BT 107.39 665.75 Td (gy commodities. Electric power demand is generally a seasonal business. In ) Tj ET Q q 0 0 0 rg BT 464.77 665.75 Td (Arizona, demand for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td (power peaks during the hot summer months, with market prices also peaking at that time. ) Tj ET Q q 0 0 0 rg BT 465.98 651.95 Td (As a result, ) Tj ET Q q 0 0 0 rg BT 520.28 651.95 Td (APS) Tj ET Q q 0 0 0 rg BT 544.57 651.95 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.15 Td (overall operating results fluctuate substantially on a seasonal basis. In addition, ) Tj ET Q q 0 0 0 rg BT 418.70 638.15 Td (APS has historically sold less ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.35 Td (power) Tj ET Q q 0 0 0 rg BT 77.78 624.35 Td (, and consequently earned less income, when weather conditions are milder) Tj ET Q q 0 0 0 rg BT 423.95 624.35 Td (. ) Tj ET Q q 0 0 0 rg BT 431.94 624.35 Td (As a result, unusually mild ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (weather could diminish ) Tj ET Q q 0 0 0 rg BT 159.69 610.55 Td (APS) Tj ET Q q 0 0 0 rg BT 183.98 610.55 Td (s financial condition, results of operations and cash flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 596.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 582.95 Td (Higher temperatures may decrease the snowpack, which might result in lowered soil moisture and an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (increased threat of forest fires. Forest fires could threaten ) Tj ET Q q 0 0 0 rg BT 318.06 569.15 Td (APS) Tj ET Q q 0 0 0 rg BT 342.35 569.15 Td (s communities and electric transmission lines ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (and facilities. ) Tj ET Q q 0 0 0 rg BT 116.57 555.35 Td (Any damage caused as a result of forest fires could negatively impact ) Tj ET Q q 0 0 0 rg BT 438.46 555.35 Td (APS) Tj ET Q q 0 0 0 rg BT 462.75 555.35 Td (s financial condition, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.55 Td (results of operations or cash flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 527.75 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 513.95 Td (Effects of Ener) Tj ET Q q 0 0 0 rg BT 153.42 513.95 Td (gy Conservation Measur) Tj ET Q q 0 0 0 rg BT 266.70 513.95 Td (es and Distributed Ener) Tj ET Q q 0 0 0 rg BT 376.48 513.95 Td (gy) Tj ET Q q 0 0 0 rg BT 386.70 513.95 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.57 513.95 Td ( ) Tj ET Q q 0 0 0 rg BT 395.12 513.95 Td (The ) Tj ET Q q 0 0 0 rg BT 415.24 513.95 Td (ACC has enacted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.15 Td (rulesregarding ener) Tj ET Q q 0 0 0 rg BT 141.25 500.15 Td (gy ef) Tj ET Q q 0 0 0 rg BT 164.35 500.15 Td (ficiency that mandate a 22% annual ener) Tj ET Q q 0 0 0 rg BT 351.25 500.15 Td (gy savings requirement by 2020. ) Tj ET Q q 0 0 0 rg BT 507.23 500.15 Td (This will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.35 Td (likely increase participation by ) Tj ET Q q 0 0 0 rg BT 193.84 486.35 Td (APS customers in ener) Tj ET Q q 0 0 0 rg BT 298.72 486.35 Td (gy ef) Tj ET Q q 0 0 0 rg BT 321.82 486.35 Td (ficiency and conservation programs and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.55 Td (demand-side management ef) Tj ET Q q 0 0 0 rg BT 181.49 472.55 Td (forts, which in turn will impact the demand for electricity) Tj ET Q q 0 0 0 rg BT 445.17 472.55 Td (. ) Tj ET Q q 0 0 0 rg BT 453.59 472.55 Td (The rulesalso include ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.75 Td (a requirement for the ) Tj ET Q q 0 0 0 rg BT 148.49 458.75 Td (ACC to review and address financial disincentives, recovery of fixed costs and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.95 Td (recovery of net lost income/revenue that would result from lower sales due to increased ener) Tj ET Q q 0 0 0 rg BT 474.65 444.95 Td (gy ef) Tj ET Q q 0 0 0 rg BT 497.75 444.95 Td (ficiency ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.15 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 117.95 431.15 Td (T) Tj ET Q q 0 0 0 rg BT 124.17 431.15 Td (o that end, the settlement agreement in ) Tj ET Q q 0 0 0 rg BT 304.29 431.15 Td (APS) Tj ET Q q 0 0 0 rg BT 328.58 431.15 Td (s most recent retail rate case \(the 2012 Settlement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.35 Td (Agreement\) includes a mechanism, the LFCR, to address these matters.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 403.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 389.75 Td (APS must also meet certain distributed ener) Tj ET Q q 0 0 0 rg BT 287.14 389.75 Td (gy requirements. ) Tj ET Q q 0 0 0 rg BT 369.54 389.75 Td (A) Tj ET Q q 0 0 0 rg BT 377.21 389.75 Td ( portion of ) Tj ET Q q 0 0 0 rg BT 428.00 389.75 Td (APS) Tj ET Q q 0 0 0 rg BT 452.30 389.75 Td (s total renewable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.95 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 375.95 Td (gy requirement must be met with an increasing percentage of distributed ener) Tj ET Q q 0 0 0 rg BT 424.94 375.95 Td (gy resources \(generally) Tj ET Q q 0 0 0 rg BT 531.48 375.95 Td (, small ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.15 Td (scale renewable technologies located on customers) Tj ET Q q 0 0 0 rg BT 286.54 362.15 Td ( properties\). ) Tj ET Q q 0 0 0 rg BT 347.65 362.15 Td (The distributed ener) Tj ET Q q 0 0 0 rg BT 440.05 362.15 Td (gy requirement was 25% ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.35 Td (of the overall RES requirement of 3% in 201) Tj ET Q q 0 0 0 rg BT 255.39 348.35 Td (1 and increased to 30% of the applicable RES requirement for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.55 Td (2012 and subsequent years. Customer participation in distributed ener) Tj ET Q q 0 0 0 rg BT 373.78 334.55 Td (gy programs would result in lower ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.75 Td (demand, since customers would be meeting some or all of their own ener) Tj ET Q q 0 0 0 rg BT 385.58 320.75 Td (gy needs. Reduced demand due to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.95 Td (these ener) Tj ET Q q 0 0 0 rg BT 95.59 306.95 Td (gy ef) Tj ET Q q 0 0 0 rg BT 118.69 306.95 Td (ficiency and distributed ener) Tj ET Q q 0 0 0 rg BT 249.72 306.95 Td (gy requirements, unless substantially of) Tj ET Q q 0 0 0 rg BT 431.89 306.95 Td (fset through ratemaking ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.15 Td (mechanisms, could have a material adverse impact on ) Tj ET Q q 0 0 0 rg BT 299.54 293.15 Td (APS) Tj ET Q q 0 0 0 rg BT 323.83 293.15 Td (s financial condition, results of operations and cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.35 Td (flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.55 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 251.75 Td (Customer and Sales Gr) Tj ET Q q 0 0 0 rg BT 192.73 251.75 Td (owth.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 220.85 251.75 Td ( For the three years 2012 through 2014, ) Tj ET Q q 0 0 0 rg BT 405.14 251.75 Td (APS) Tj ET Q q 0 0 0 rg BT 429.43 251.75 Td (s retail customer growth ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.95 Td (averaged 1.3% per year) Tj ET Q q 0 0 0 rg BT 157.42 237.95 Td (. ) Tj ET Q q 0 0 0 rg BT 165.83 237.95 Td (W) Tj ET Q q 0 0 0 rg BT 175.77 237.95 Td (e currently expect annual customer growth to average in the range of 2.0-3.0% for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.15 Td (2015 through 2017 based on our assessment of modestly improving economic conditions in ) Tj ET Q q 0 0 0 rg BT 473.36 224.15 Td (Arizona. For the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.35 Td (three years 2012 through 2014, ) Tj ET Q q 0 0 0 rg BT 195.14 210.35 Td (APS experienced annual decreases in retail electricity sales averaging 0.2%, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.55 Td (adjusted to exclude the ef) Tj ET Q q 0 0 0 rg BT 166.81 196.55 Td (fects of weather variations. ) Tj ET Q q 0 0 0 rg BT 296.88 196.55 Td (W) Tj ET Q q 0 0 0 rg BT 306.81 196.55 Td (e currently estimate that annual retail electricity sales ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.75 Td (in kWh will increase on average in the range of 0.5-1.5% during 2015 through 2017, including the ef) Tj ET Q q 0 0 0 rg BT 513.65 182.75 Td (fects of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.95 Td (customer conservation and ener) Tj ET Q q 0 0 0 rg BT 195.22 168.95 Td (gy ef) Tj ET Q q 0 0 0 rg BT 218.33 168.95 Td (ficiency and distributed renewable generation initiatives, but excluding the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.15 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 155.15 Td (fects of weather variations. ) Tj ET Q q 0 0 0 rg BT 187.88 155.15 Td (Actual customer and sales growth may dif) Tj ET Q q 0 0 0 rg BT 381.84 155.15 Td (fer from our projections as a result of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.35 Td (numerous factors, such as economic conditions, customer growth, usage patterns and ener) Tj ET Q q 0 0 0 rg BT 463.18 141.35 Td (gy conservation, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.55 Td (impacts of ener) Tj ET Q q 0 0 0 rg BT 120.18 127.55 Td (gy ef) Tj ET Q q 0 0 0 rg BT 143.28 127.55 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 49.50 113.75 Td (changes. ) Tj ET Q q 0 0 0 rg BT 94.53 113.75 Td (Additionally) Tj ET Q q 0 0 0 rg BT 151.92 113.75 Td (, recovery of a substantial portion of our fixed costs of providing service is based upon ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.95 Td (the volumetric amount of our sales. If our customer growth rate does not continue to improve as projected, or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.15 Td (if it declines, or if the ) Tj ET Q q 0 0 0 rg BT 150.74 86.15 Td (Arizona economy fails to improve, we may be unable to reach our estimated demand ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.35 Td (level and sales projections, which could have a negative impact on our financial condition, results of operations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.55 Td (and cash flows.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 69 0 obj <>] /Rotate 0 /Contents 70 0 R>> endobj 70 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (31) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 734.75 Td (The operation of power generation facilities and transmission systems involves risks that could result in ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 720.95 Td (reduced output or unscheduled outages, which could materially af) Tj ET Q q 0 0 0 rg BT 362.70 720.95 Td (fect ) Tj ET Q q 0 0 0 rg BT 382.38 720.95 Td (APS) Tj ET Q q 0 0 0 rg BT 406.45 720.95 Td (s results of operations) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 510.29 720.95 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.35 Td (The operation of power generation, transmission and distribution facilities involves certain risks, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.55 Td (including the risk of breakdown or failure of equipment, fuel interruption, and performance below expected ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.75 Td (levels of output or ef) Tj ET Q q 0 0 0 rg BT 145.10 665.75 Td (ficiency) Tj ET Q q 0 0 0 rg BT 181.39 665.75 Td (. Unscheduled outages, including extensions of scheduled outages due to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td (mechanical failures or other complications, occur from time to time and are an inherent risk of ) Tj ET Q q 0 0 0 rg BT 486.03 651.95 Td (APS) Tj ET Q q 0 0 0 rg BT 510.33 651.95 Td (s business. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.15 Td (Because our transmission facilities are interconnected with those of third parties, the operation of our facilities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.35 Td (could be adversely af) Tj ET Q q 0 0 0 rg BT 147.32 624.35 Td (fected by unexpected or uncontrollable events occurring on the lar) Tj ET Q q 0 0 0 rg BT 452.07 624.35 Td (ger transmission power ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (grid, and the operation or failure of our facilities could adversely af) Tj ET Q q 0 0 0 rg BT 359.04 610.55 Td (fect the operations of others. If ) Tj ET Q q 0 0 0 rg BT 505.94 610.55 Td (APS) Tj ET Q q 0 0 0 rg BT 530.23 610.55 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.75 Td (facilities operate below expectations, especially during its peak seasons, it may lose revenue or incur additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.95 Td (expenses, including increased purchased power expenses. Concerns over physical security of these assets is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (also increasing, which may require us to incur additional capital and operating costs to address. Damage to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (certain of our facilities due to vandalism or other deliberate acts could lead to outages or other adverse ef) Tj ET Q q 0 0 0 rg BT 532.11 555.35 Td (fects.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 541.55 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 527.75 Td (The inability to successfully develop or acquire generation resources to meet reliability requirements, new ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 513.95 Td (or evolving standards or regulations could adversely impact our business.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 486.35 Td (Potential changes in regulatory standards, impacts of new and existing laws and regulations, including ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.55 Td (environmental laws and regulations, and the need to obtain certain regulatory approvals create uncertainty ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.75 Td (surrounding our generation portfolio. ) Tj ET Q q 0 0 0 rg BT 226.23 458.75 Td (The current abundance of low) Tj ET Q q 0 0 0 rg BT 363.42 458.75 Td (, stably priced natural gas, together with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.95 Td (environmental and other concerns surrounding coal-fired generation resources, create strategic questions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.15 Td (related to the appropriate generation portfolio and fuel diversification mix. In addition, ) Tj ET Q q 0 0 0 rg BT 453.48 431.15 Td (APS is required by the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.35 Td (ACC to meet certain ener) Tj ET Q q 0 0 0 rg BT 166.81 417.35 Td (gy resource portfolio requirements such as the EES and the RES. ) Tj ET Q q 0 0 0 rg BT 471.60 417.35 Td (The development ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.55 Td (of any generation facility is subject to many risks, including risks related to financing, siting, permitting, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.75 Td (technology) Tj ET Q q 0 0 0 rg BT 99.85 389.75 Td (, the construction of suf) Tj ET Q q 0 0 0 rg BT 208.56 389.75 Td (ficient transmission capacity to support these facilities and stresses to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.95 Td (generation and transmission resources from intermittent generation characteristics of renewable resources. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.15 Td (APS) Tj ET Q q 0 0 0 rg BT 73.79 362.15 Td (s inability to adequately develop or acquire the necessary generation resources could have a material ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.35 Td (adverse impact on our business and results of operations.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.55 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 320.75 Td (The lack of access to suf) Tj ET Q q 0 0 0 rg BT 165.23 320.75 Td (ficient supplies of water could have a material adverse impact on ) Tj ET Q q 0 0 0 rg BT 474.33 320.75 Td (APS) Tj ET Q q 0 0 0 rg BT 498.40 320.75 Td (s business ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 306.95 Td (and results of operations.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 279.35 Td (Assured supplies of water are important for ) Tj ET Q q 0 0 0 rg BT 287.66 279.35 Td (APS) Tj ET Q q 0 0 0 rg BT 311.95 279.35 Td (s generating plants. ) Tj ET Q q 0 0 0 rg BT 406.60 279.35 Td (W) Tj ET Q q 0 0 0 rg BT 416.53 279.35 Td (ater in the southwestern United ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.55 Td (States is limited, and various parties have made conflicting claims regarding the right to access and use such ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.75 Td (limited supply of water) Tj ET Q q 0 0 0 rg BT 155.86 251.75 Td (. Both groundwater and surface water in areas important to ) Tj ET Q q 0 0 0 rg BT 431.78 251.75 Td (APS) Tj ET Q q 0 0 0 rg BT 456.07 251.75 Td (s generating plants ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.95 Td (have been and are the subject of inquiries, claims and legal proceedings. In addition, the region in which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.15 Td (APS) Tj ET Q q 0 0 0 rg BT 73.79 224.15 Td (s power plants are located is prone to drought conditions, which could potentially af) Tj ET Q q 0 0 0 rg BT 460.03 224.15 Td (fect the plants) Tj ET Q q 0 0 0 rg BT 527.51 224.15 Td ( water ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.35 Td (supplies. ) Tj ET Q q 0 0 0 rg BT 95.19 210.35 Td (APS) Tj ET Q q 0 0 0 rg BT 119.48 210.35 Td (s inability to access suf) Tj ET Q q 0 0 0 rg BT 225.95 210.35 Td (ficient supplies of water could have a material adverse impact on our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.55 Td (business and results of operations.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 168.95 Td (The ownership and operation of power generation and transmission facilities on Indian lands could result ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 155.15 Td (in uncertainty related to continued leases, easements and rights-of-way) Tj ET Q q 0 0 0 rg BT 385.46 155.15 Td (, which could have a significant ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 141.35 Td (impact on our business.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 113.75 Td (Certain ) Tj ET Q q 0 0 0 rg BT 121.59 113.75 Td (APS power plants, including Four Corners, and portions of the transmission lines that carry ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.95 Td (power from these plants are located on Indian lands pursuant to leases, easements or other rights-of-way that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.15 Td (are ef) Tj ET Q q 0 0 0 rg BT 75.14 86.15 Td (fective for specified periods. ) Tj ET Q q 0 0 0 rg BT 211.81 86.15 Td (APS is unable to predict the final outcome of pending and future approvals ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.35 Td (by applicable governing bodies with respect to renewals of these leases, easements and rights-of-way) Tj ET Q q 0 0 0 rg BT 514.36 72.35 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 58.55 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 71 0 obj <>] /Rotate 0 /Contents 72 0 R>> endobj 72 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (32) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 734.75 Td (There are inherent risks in the ownership and operation of nuclear facilities, such as environmental, health, ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 720.95 Td (fuel supply) Tj ET Q q 0 0 0 rg BT 101.15 720.95 Td (, spent fuel disposal, regulatory and financial risks and the risk of terrorist attack.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.35 Td (APS has an ownership interest in and operates, on behalf of a group of participants, Palo ) Tj ET Q q 0 0 0 rg BT 495.37 693.35 Td (V) Tj ET Q q 0 0 0 rg BT 502.40 693.35 Td (erde, which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.55 Td (is the lar) Tj ET Q q 0 0 0 rg BT 88.89 679.55 Td (gest nuclear electric generating facility in the United States. Palo ) Tj ET Q q 0 0 0 rg BT 392.70 679.55 Td (V) Tj ET Q q 0 0 0 rg BT 399.73 679.55 Td (erde constitutes approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.75 Td (18% of our owned and leased generation capacity) Tj ET Q q 0 0 0 rg BT 277.71 665.75 Td (. Palo ) Tj ET Q q 0 0 0 rg BT 309.45 665.75 Td (V) Tj ET Q q 0 0 0 rg BT 316.48 665.75 Td (erde is subject to environmental, health and financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td (risks, such as the ability to obtain adequate supplies of nuclear fuel; the ability to dispose of spent nuclear fuel; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.15 Td (the ability to maintain adequate reserves for decommissioning; potential liabilities arising out of the operation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.35 Td (of these facilities; the costs of securing the facilities against possible terrorist attacks; and unscheduled outages ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (due to equipment and other problems. ) Tj ET Q q 0 0 0 rg BT 228.99 610.55 Td (APS maintains nuclear decommissioning trust funds and external ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.75 Td (insurance coverage to minimize its financial exposure to some of these risks; however) Tj ET Q q 0 0 0 rg BT 445.04 596.75 Td (, it is possible that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.95 Td (damages could exceed the amount of insurance coverage. In addition, ) Tj ET Q q 0 0 0 rg BT 374.90 582.95 Td (APS may be required under federal law ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (to pay up to $1) Tj ET Q q 0 0 0 rg BT 118.07 569.15 Td (1) Tj ET Q q 0 0 0 rg BT 123.39 569.15 Td (1 million \(but not more than $16.5 million per year\) of liabilities arising out of a nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (incident occurring not only at Palo ) Tj ET Q q 0 0 0 rg BT 211.54 555.35 Td (V) Tj ET Q q 0 0 0 rg BT 218.57 555.35 Td (erde, but at any other nuclear power plant in the United States. ) Tj ET Q q 0 0 0 rg BT 508.54 555.35 Td (Although ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.55 Td (we have no reason to anticipate a serious nuclear incident at Palo ) Tj ET Q q 0 0 0 rg BT 351.38 541.55 Td (V) Tj ET Q q 0 0 0 rg BT 358.41 541.55 Td (erde, if an incident did occur) Tj ET Q q 0 0 0 rg BT 490.15 541.55 Td (, it could ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.75 Td (materially and adversely af) Tj ET Q q 0 0 0 rg BT 174.14 527.75 Td (fect our results of operations and financial condition. ) Tj ET Q q 0 0 0 rg BT 422.60 527.75 Td (A) Tj ET Q q 0 0 0 rg BT 430.27 527.75 Td ( major incident at a nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.95 Td (facility anywhere in the world could cause the NRC to limit or prohibit the operation or licensing of any ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.15 Td (domestic nuclear unit and to promulgate new regulations that could require significant capital expenditures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.35 Td (and/or increase operating costs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 472.55 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 458.75 Td (The use of derivative contracts in the normal course of our business could result in financial losses that ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 444.95 Td (negatively impact our results of operations.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 417.35 Td (APS) Tj ET Q q 0 0 0 rg BT 109.79 417.35 Td (s operations include managing market risks related to commodity prices. ) Tj ET Q q 0 0 0 rg BT 448.97 417.35 Td (APS is exposed to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.55 Td (impact of market fluctuations in the price and transportation costs of electricity) Tj ET Q q 0 0 0 rg BT 412.49 403.55 Td (, natural gas and coal to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.75 Td (extent that unhedged positions exist. ) Tj ET Q q 0 0 0 rg BT 222.73 389.75 Td (W) Tj ET Q q 0 0 0 rg BT 232.66 389.75 Td (e have established procedures to manage risks associated with these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.95 Td (market fluctuations by utilizing various commodity derivatives, including exchange traded futures and options ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.15 Td (and over) Tj ET Q q 0 0 0 rg BT 89.18 362.15 Td (-the-counter forwards, options, and swaps. ) Tj ET Q q 0 0 0 rg BT 290.07 362.15 Td (As part of our overall risk management program, we enter ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.35 Td (into derivative transactions to hedge purchases and sales of electricity and fuels. ) Tj ET Q q 0 0 0 rg BT 423.56 348.35 Td (The changes in market value ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.55 Td (of such contracts have a high correlation to price changes in the hedged commodity) Tj ET Q q 0 0 0 rg BT 432.92 334.55 Td (. ) Tj ET Q q 0 0 0 rg BT 441.34 334.55 Td (T) Tj ET Q q 0 0 0 rg BT 447.56 334.55 Td (o the extent that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.75 Td (commodity markets are illiquid, we may not be able to execute our risk management strategies, which could ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.95 Td (result in greater unhedged positions than we would prefer at a given time and financial losses that negatively ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.15 Td (impact our results of operations.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 279.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.55 Td (The Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 165.14 265.55 Td (W) Tj ET Q q 0 0 0 rg BT 175.07 265.55 Td (all Street Reform and Consumer Protection ) Tj ET Q q 0 0 0 rg BT 376.29 265.55 Td (Act \(Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 463.16 265.55 Td (Act\) contains ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.75 Td (measures aimed at increasing the transparency and stability of the over) Tj ET Q q 0 0 0 rg BT 374.99 251.75 Td (-the counter) Tj ET Q q 0 0 0 rg BT 429.77 251.75 Td (, or OTC, derivative markets ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.95 Td (and preventing excessive speculation. ) Tj ET Q q 0 0 0 rg BT 225.89 237.95 Td (The Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 305.10 237.95 Td (Act could restrict, among other things, trading positions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.15 Td (in the ener) Tj ET Q q 0 0 0 rg BT 97.83 224.15 Td (gy futures markets, require dif) Tj ET Q q 0 0 0 rg BT 237.17 224.15 Td (ferent collateral or settlement positions, or increase regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.35 Td (reporting over derivative positions. Based on the provisions included in the Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 456.73 210.35 Td (Act and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.55 Td (implementation of regulations, these changes could, among other things, impact our ability to hedge ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.75 Td (commodity price and interest rate risk or increase the costs associated with our hedging programs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 168.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 155.15 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 155.15 Td (e are exposed to losses in the event of nonperformance or nonpayment by counterparties. ) Tj ET Q q 0 0 0 rg BT 510.37 155.15 Td (W) Tj ET Q q 0 0 0 rg BT 520.31 155.15 Td (e use a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.35 Td (risk management process to assess and monitor the financial exposure of all counterparties. Despite the fact ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.55 Td (that the majority of ) Tj ET Q q 0 0 0 rg BT 140.21 127.55 Td (APS) Tj ET Q q 0 0 0 rg BT 164.50 127.55 Td (s trading counterparties are rated as investment grade by the rating agencies, there is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.75 Td (still a possibility that one or more of these companies could default, which could result in a material adverse ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.95 Td (impact on our earnings for a given period.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 86.15 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 73 0 obj <>] /Rotate 0 /Contents 74 0 R>> endobj 74 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (33) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 734.75 Td (Changes in technology could create challenges for ) Tj ET Q q 0 0 0 rg BT 291.54 734.75 Td (APS) Tj ET Q q 0 0 0 rg BT 315.60 734.75 Td (s existing business.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.15 Td (Research and development activities are ongoing to develop and commercialize alternative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.35 Td (technologies that produce power or reduce power consumption or emissions, including renewable technologies ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.55 Td (including photovoltaic \(solar\) cells, customer) Tj ET Q q 0 0 0 rg BT 257.82 679.55 Td (-sited generation, ener) Tj ET Q q 0 0 0 rg BT 360.11 679.55 Td (gy storage \(batteries\), and ef) Tj ET Q q 0 0 0 rg BT 491.14 679.55 Td (ficiency ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.75 Td (technologies. ) Tj ET Q q 0 0 0 rg BT 115.62 665.75 Td (Advances in these, or other technologies could reduce the cost of power production, making ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td (APS) Tj ET Q q 0 0 0 rg BT 73.79 651.95 Td (s existing generating facilities less economical. In addition, advances in technology and equipment/) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.15 Td (appliance ef) Tj ET Q q 0 0 0 rg BT 105.16 638.15 Td (ficiency could reduce the demand for power supply) Tj ET Q q 0 0 0 rg BT 341.04 638.15 Td (, which could adversely af) Tj ET Q q 0 0 0 rg BT 461.86 638.15 Td (fect ) Tj ET Q q 0 0 0 rg BT 481.33 638.15 Td (APS) Tj ET Q q 0 0 0 rg BT 505.63 638.15 Td (s business.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.55 Td (APS has, and continues to pursue and implement, smart grid technologies, including advanced ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.75 Td (transmission and distribution system technologies, as well as digital meters enabling two-way communications ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.95 Td (between the utility and its customers. Many of the products and processes resulting from these and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (alternative technologies have not yet been widely used or tested on a long-term basis, and their use on lar) Tj ET Q q 0 0 0 rg BT 533.11 569.15 Td (ge-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (scale systems is not as established or mature as ) Tj ET Q q 0 0 0 rg BT 268.28 555.35 Td (APS) Tj ET Q q 0 0 0 rg BT 292.58 555.35 Td (s existing technologies and equipment. ) Tj ET Q q 0 0 0 rg BT 476.66 555.35 Td (W) Tj ET Q q 0 0 0 rg BT 487.05 555.35 Td (idespread ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.55 Td (installation and acceptance of these technologies could enable the entry of new market participants, such as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.75 Td (technology companies, into the interface between ) Tj ET Q q 0 0 0 rg BT 279.74 527.75 Td (APS and its customers and could have other unpredictable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.95 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 513.95 Td (fects on ) Tj ET Q q 0 0 0 rg BT 96.55 513.95 Td (APS) Tj ET Q q 0 0 0 rg BT 120.84 513.95 Td (s business.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 500.15 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 486.35 Td (W) Tj ET Q q 0 0 0 rg BT 58.87 486.35 Td (e are subject to employee workforce factors that could adversely af) Tj ET Q q 0 0 0 rg BT 372.94 486.35 Td (fect our business and financial ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 472.55 Td (condition.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 444.95 Td (Like most companies in the electric utility industry) Tj ET Q q 0 0 0 rg BT 319.50 444.95 Td (, our workforce is maturing, with approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.15 Td (37% of employees eligible to retire by the end of 2017. ) Tj ET Q q 0 0 0 rg BT 308.51 431.15 Td (Although we have undertaken ef) Tj ET Q q 0 0 0 rg BT 458.39 431.15 Td (forts to recruit and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.35 Td (train new employees, we face increased competition for talent. ) Tj ET Q q 0 0 0 rg BT 343.07 417.35 Td (W) Tj ET Q q 0 0 0 rg BT 353.00 417.35 Td (e are subject to other employee workforce ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.55 Td (factors, such as the availability of qualified personnel, the need to negotiate collective bar) Tj ET Q q 0 0 0 rg BT 461.55 403.55 Td (gaining agreements ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.75 Td (with union employees and potential work stoppages. ) Tj ET Q q 0 0 0 rg BT 296.82 389.75 Td (These or other employee workforce factors could ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.95 Td (negatively impact our business, financial condition or results of operations.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.15 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 348.35 Td (W) Tj ET Q q 0 0 0 rg BT 58.87 348.35 Td (e are subject to information security risks) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 255.02 348.35 Td ( ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 257.90 348.35 Td (and risks of unauthorized access to our systems.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 320.75 Td (In the regular course of our business, we handle a range of sensitive security) Tj ET Q q 0 0 0 rg BT 436.03 320.75 Td (, customer and business ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.95 Td (systems information. ) Tj ET Q q 0 0 0 rg BT 151.08 306.95 Td (A) Tj ET Q q 0 0 0 rg BT 158.75 306.95 Td ( security breach of our information systems such as theft or the inappropriate release of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.15 Td (certain types of information, including confidential customer) Tj ET Q q 0 0 0 rg BT 329.12 293.15 Td (, employee, financial or system operating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.35 Td (information, could have a material adverse impact on our financial condition, results of operations or cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.55 Td (flows. ) Tj ET Q q 0 0 0 rg BT 83.47 265.55 Td (W) Tj ET Q q 0 0 0 rg BT 93.41 265.55 Td (e operate in a highly regulated industry that requires the continued operation of sophisticated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.75 Td (information technology systems and network infrastructure.Despite implementation of security measures, our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.95 Td (technology systems are vulnerable to disability) Tj ET Q q 0 0 0 rg BT 264.97 237.95 Td (, failures or unauthorized access.Our generation, transmission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.15 Td (and distribution facilities, information technology systems and other infrastructure facilities and systems and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.35 Td (physical assets could be tar) Tj ET Q q 0 0 0 rg BT 174.48 210.35 Td (gets of such unauthorized access. Failures or breaches of our systems could impact ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.55 Td (the reliability of our generation, transmission and distribution systems and also subject us to financial harm.If ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.75 Td (our technology systems were to fail or be breached and if we are unable to recover in a timely way) Tj ET Q q 0 0 0 rg BT 502.52 182.75 Td (, we may not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.95 Td (be able to fulfill critical business functions and sensitive confidential data could be compromised, which could ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.15 Td (have a material adverse impact on our financial condition, results of operations or cash flows. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 127.55 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 127.55 Td (e are subject to laws and rulesissued by multiple government agencies concerning safeguarding and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.75 Td (maintaining the confidentiality of our security) Tj ET Q q 0 0 0 rg BT 260.49 113.75 Td (, customer and business information. One of these agencies, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.95 Td (NERC, has issued comprehensive regulations and standards surrounding the security of our operating systems, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.15 Td (and is continually in the process of developing updated and additional requirements with which the utility ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.35 Td (industry must comply) Tj ET Q q 0 0 0 rg BT 149.06 72.35 Td (. ) Tj ET Q q 0 0 0 rg BT 157.48 72.35 Td (The increasing promulgation of NERC rules and standards will increase our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.55 Td (compliance costs and our exposure to the potential risk of violations of the standards.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 75 0 obj <>] /Rotate 0 /Contents 76 0 R>> endobj 76 0 obj <> stream 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 74.50 734.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 74.50 720.75 Td (While we have experienced, and expect to continue to experience, these types of threats and attempted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (intrusions, none of them to date has been material to the Company) Tj ET Q q 0 0 0 rg BT 354.08 706.95 Td (. ) Tj ET Q q 0 0 0 rg BT 362.50 706.95 Td (The implementation of additional security ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (measures could increase costs and have a material adverse impact on our financial results. ) Tj ET Q q 0 0 0 rg BT 468.89 693.15 Td (W) Tj ET Q q 0 0 0 rg BT 478.83 693.15 Td (e have obtained ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (cyber insurance to provide coverage for a portion of the losses and damages that may result from a security ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (breach of our information technology systems, but such insurance may not cover the total loss or damage ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (caused by a breach. ) Tj ET Q q 0 0 0 rg BT 145.08 651.75 Td (These types of events could also require significant management attention and resources, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (and could adversely af) Tj ET Q q 0 0 0 rg BT 153.07 637.95 Td (fect Pinnacle ) Tj ET Q q 0 0 0 rg BT 215.45 637.95 Td (W) Tj ET Q q 0 0 0 rg BT 225.38 637.95 Td (est) Tj ET Q q 0 0 0 rg BT 241.35 637.95 Td (s and ) Tj ET Q q 0 0 0 rg BT 267.55 637.95 Td (APS) Tj ET Q q 0 0 0 rg BT 291.84 637.95 Td (s reputation with customers and the public. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 74.50 624.15 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 49.5 608.5503173828125 m 151.43115234375 608.5503173828125 l s q 0 0 0 rg BT 49.50 610.35 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 114.04 610.35 Td ( RISKS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (Financial market disruptions or new rulesor regulations may increase our financing costs or limit our ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (access to various financial markets, which may adversely af) Tj ET Q q 0 0 0 rg BT 331.99 568.95 Td (fect our liquidity and our ability to implement ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (our financial strategy) Tj ET Q q 0 0 0 rg BT 151.31 555.15 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 527.55 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 527.55 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 527.55 Td (est and ) Tj ET Q q 0 0 0 rg BT 172.20 527.55 Td (APS rely on access to credit markets as a significant source of liquidity and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (capital markets for capital requirements not satisfied by cash flow from our operations. ) Tj ET Q q 0 0 0 rg BT 455.19 513.75 Td (W) Tj ET Q q 0 0 0 rg BT 465.12 513.75 Td (e believe that we ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (will maintain suf) Tj ET Q q 0 0 0 rg BT 127.23 499.95 Td (ficient access to these financial markets. However) Tj ET Q q 0 0 0 rg BT 359.87 499.95 Td (, certain market disruptions or rulesor ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (regulations may cause our cost of borrowing to increase generally) Tj ET Q q 0 0 0 rg BT 351.81 486.15 Td (, and/or otherwise adversely af) Tj ET Q q 0 0 0 rg BT 493.06 486.15 Td (fect our ability ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (to access these financial markets.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 458.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 444.75 Td (In addition, the credit commitments of our lenders under our bank facilities may not be satisfied or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.95 Td (continued beyond current commitment periods for a variety of reasons, including new rules and regulations, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.15 Td (periods of financial distress or liquidity issues af) Tj ET Q q 0 0 0 rg BT 272.55 417.15 Td (fecting our lenders or financial markets, which could ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (materially adversely af) Tj ET Q q 0 0 0 rg BT 154.66 403.35 Td (fect the adequacy of our liquidity sources and the cost of maintaining these sources.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 389.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 375.75 Td (Changes in economic conditions, monetary policy) Tj ET Q q 0 0 0 rg BT 297.35 375.75 Td (, financial regulation or other factors could result in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (higher interest rates, which would increase interest expense on our existing variable rate debt and new debt we ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (expect to issue in the future, and thus reduce funds available to us for our current plans.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 320.55 Td (Additionally) Tj ET Q q 0 0 0 rg BT 124.89 320.55 Td (, an increase in our leverage, whether as a result of these factors or otherwise, could adversely ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (af) Tj ET Q q 0 0 0 rg BT 58.23 306.75 Td (fect us by:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 279.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 279.15 Td (causing a downgrade of our credit ratings;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.35 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 265.35 Td (increasing the cost of future debt financing and refinancing;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 251.55 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 251.55 Td (increasing our vulnerability to adverse economic and industry conditions; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 237.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 237.75 Td (requiring us to dedicate an increased portion of our cash flow from operations to payments on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 223.95 Td (our debt, which would reduce funds available to us for operations, future investment in our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 210.15 Td (business or other purposes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 196.35 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 182.55 Td (A) Tj ET Q q 0 0 0 rg BT 56.54 182.55 Td ( downgrade of our credit ratings could materially and adversely af) Tj ET Q q 0 0 0 rg BT 369.39 182.55 Td (fect our business, financial condition ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 168.75 Td (and results of operations.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 154.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 141.15 Td (Our current ratings are set forth in Liquidity and Capital Resources Credit Ratings in Item7. ) Tj ET Q q 0 0 0 rg BT 541.04 141.15 Td (W) Tj ET Q q 0 0 0 rg BT 550.97 141.15 Td (e ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.35 Td (cannot be sure that any of our current ratings will remain in ef) Tj ET Q q 0 0 0 rg BT 334.78 127.35 Td (fect for any given period of time or that a rating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.55 Td (will not be lowered or withdrawn entirely by a rating agency if, in its judgment, circumstances in the future so ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.75 Td (warrant. ) Tj ET Q q 0 0 0 rg BT 92.61 99.75 Td (Any downgrade or withdrawal could adversely af) Tj ET Q q 0 0 0 rg BT 320.41 99.75 Td (fect the market price of Pinnacle ) Tj ET Q q 0 0 0 rg BT 472.83 99.75 Td (W) Tj ET Q q 0 0 0 rg BT 482.77 99.75 Td (est) Tj ET Q q 0 0 0 rg BT 498.74 99.75 Td (s and ) Tj ET Q q 0 0 0 rg BT 524.93 99.75 Td (APS) Tj ET Q q 0 0 0 rg BT 549.22 99.75 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.95 Td (securities, limit our access to capital and increase our borrowing costs, which would diminish our financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.15 Td (results. ) Tj ET Q q 0 0 0 rg BT 87.94 72.15 Td (W) Tj ET Q q 0 0 0 rg BT 97.88 72.15 Td (e would be required to pay a higher interest rate for future financings, and our potential pool of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.35 Td (investors and funding sources could decrease. In addition, borrowing costs under our existing credit facilities ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 77 0 obj <>] /Rotate 0 /Contents 78 0 R>> endobj 78 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (35) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 734.55 Td (depend on our credit ratings. ) Tj ET Q q 0 0 0 rg BT 186.51 734.55 Td (A) Tj ET Q q 0 0 0 rg BT 194.18 734.55 Td ( downgrade could also require us to provide additional support in the form of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (letters of credit or cash or other collateral to various counterparties. If our short-term ratings were to be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (lowered, it could severely limit access to the commercial paper market. ) Tj ET Q q 0 0 0 rg BT 382.67 706.95 Td (W) Tj ET Q q 0 0 0 rg BT 392.61 706.95 Td (e note that the ratings from rating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (agencies are not recommendations to buy) Tj ET Q q 0 0 0 rg BT 239.40 693.15 Td (, sell or hold our securities and that each rating should be evaluated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (independently of any other rating.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.55 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (Investment performance, changing interest rates and other economic factors could decrease the value of ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (our benefit plan assets and nuclear decommissioning trust funds and increase the valuation of our related ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (obligations, resulting in significant additional funding requirements. ) Tj ET Q q 0 0 0 rg BT 380.96 624.15 Td (W) Tj ET Q q 0 0 0 rg BT 390.33 624.15 Td (e are subject to risks related to the ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (provision of employee healthcare benefits and recent healthcare reform legislation. ) Tj ET Q q 0 0 0 rg BT 448.36 610.35 Td (Any inability to fully ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (recover these costs in our utility rates would negatively impact our financial condition.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 568.95 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 568.95 Td (e have significant pension plan and other postretirement benefits plan obligations to our employees ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (and retirees, and legal obligations to fund nuclear decommissioning trusts for Palo ) Tj ET Q q 0 0 0 rg BT 430.95 555.15 Td (V) Tj ET Q q 0 0 0 rg BT 437.98 555.15 Td (erde. ) Tj ET Q q 0 0 0 rg BT 466.19 555.15 Td (W) Tj ET Q q 0 0 0 rg BT 476.12 555.15 Td (e hold and invest ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.35 Td (substantial assets in these trusts that are designed to provide funds to pay for certain of these obligations as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (they arise. Declines in market values of the fixed income and equity securities held in these trusts may ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (increase our funding requirements into the related trusts. ) Tj ET Q q 0 0 0 rg BT 314.57 513.75 Td (Additionally) Tj ET Q q 0 0 0 rg BT 371.96 513.75 Td (, the valuation of liabilities related to our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (pension plan and other postretirement benefit plans are impacted by a discount rate, which is the interest rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (used to discount future pension and other postretirement benefit obligations. Declining interest rates decrease ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (the discount rate, increase the valuation of the plan liabilities and may result in increases in pension and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (postretirement benefit costs, cash contributions, regulatory assets, and char) Tj ET Q q 0 0 0 rg BT 393.88 458.55 Td (ges to OCI. Changes in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (demographics, including increased number of retirements or changes in life expectancy and changes in other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.95 Td (actuarial assumptions, may also result in similar impacts. ) Tj ET Q q 0 0 0 rg BT 317.90 430.95 Td (The minimum contributions required under these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.15 Td (plans are impacted by federal legislation. Increasing liabilities or otherwise increasing funding requirements ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (under these plans, resulting from adverse changes in legislation or otherwise, could result in significant cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (funding obligations that could 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 49.50 375.75 Td (flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 361.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 348.15 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 348.15 Td (e recover most of the pension costs and other postretirement benefit costs and all of the nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td (decommissioning costs in our regulated rates. ) Tj ET Q q 0 0 0 rg BT 264.77 334.35 Td (Any inability to fully recover these costs in a timely manner ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.55 Td (would have a material negative impact on our financial condition, results of operations or cash flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 306.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 292.95 Td (Employee healthcare costs in recent years have continued to rise. ) Tj ET Q q 0 0 0 rg BT 390.57 292.95 Td (The Patient Protection and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.15 Td (Af) Tj ET Q q 0 0 0 rg BT 61.43 279.15 Td (fordable Care ) Tj ET Q q 0 0 0 rg BT 126.57 279.15 Td (Act is expected to result in additional healthcare cost increases. Costs and other ef) Tj ET Q q 0 0 0 rg BT 506.70 279.15 Td (fects of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.35 Td (legislation, which may include the cost of compliance and potentially increased costs of providing for medical ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (insurance for our employees, cannot be determined with certainty at this time. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 237.75 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 223.95 Td (Our cash flow depends on the performance of ) Tj ET Q q 0 0 0 rg BT 268.86 223.95 Td (APS.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 196.35 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 196.35 Td (e derive essentially all of our revenues and earnings from our wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 494.85 196.35 Td (, ) Tj ET Q q 0 0 0 rg BT 499.96 196.35 Td (APS. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.55 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 106.24 182.55 Td (, our cash flow and our ability to pay dividends on our common stock is dependent upon the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.75 Td (earnings and cash flows of ) Tj ET Q q 0 0 0 rg BT 174.37 168.75 Td (APS and its distributions to us. ) Tj ET Q q 0 0 0 rg BT 321.99 168.75 Td (APS is a separate and distinct legal entity and has ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 154.95 Td (no obligation to make distributions to us.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 141.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 127.35 Td (APS) Tj ET Q q 0 0 0 rg BT 109.79 127.35 Td (s financing agreements may restrict its ability to pay dividends, make distributions or otherwise ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.55 Td (transfer funds to us. In addition, an ) Tj ET Q q 0 0 0 rg BT 215.58 113.55 Td (ACC financing order requires ) Tj ET Q q 0 0 0 rg BT 354.83 113.55 Td (APS to maintain a common equity ratio of at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.75 Td (least 40% and does not allow ) Tj ET Q q 0 0 0 rg BT 186.20 99.75 Td (APS to pay common dividends if the payment would reduce its common equity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.95 Td (below that threshold. ) Tj ET Q q 0 0 0 rg BT 151.82 85.95 Td (The common equity ratio, as defined in the ) Tj ET Q q 0 0 0 rg BT 352.06 85.95 Td (ACC order) Tj ET Q q 0 0 0 rg BT 402.39 85.95 Td (, is total shareholder equity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.15 Td (divided by the sum of total shareholder equity and long-term debt, including current maturities of long-term ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.35 Td (debt.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 79 0 obj <>] /Rotate 0 /Contents 80 0 R>> endobj 80 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (36) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 734.55 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 94.33 720.75 Td (W) Tj ET Q q 0 0 0 rg BT 103.71 720.75 Td (est) Tj ET Q q 0 0 0 rg BT 119.46 720.75 Td (s ability to meet its debt service obligations could be adversely af) Tj ET Q q 0 0 0 rg BT 422.36 720.75 Td (fected because its debt ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (securities are structurally subordinated to the debt securities and other obligations of its subsidiaries.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.35 Td (Because Pinnacle ) Tj ET Q q 0 0 0 rg BT 168.96 679.35 Td (W) Tj ET Q q 0 0 0 rg BT 178.89 679.35 Td (est is structured as a holding company) Tj ET Q q 0 0 0 rg BT 353.80 679.35 Td (, all existing and future debt and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (liabilities of our subsidiaries will be ef) Tj ET Q q 0 0 0 rg BT 226.23 665.55 Td (fectively senior in right of payment to our debt securities. ) Tj ET Q q 0 0 0 rg BT 496.21 665.55 Td (The assets ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (and cash flows of our subsidiaries will be available, in the first instance, to service their own debt and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (obligations. Our ability to have the benefit of their cash flows, particularly in the case of any insolvency or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (financial distress af) Tj ET Q q 0 0 0 rg BT 138.71 624.15 Td (fecting our subsidiaries, would arise only through our equity ownership interests in our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (subsidiaries and only after their creditors have been satisfied.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 596.55 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (The market price of our common stock may be volatile.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.15 Td (The market price of our common stock could be subject to significant fluctuations in response to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.35 Td (factors such as the following, some of which are beyond our control:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 527.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 513.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 513.75 Td (variations in our quarterly operating results;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 499.95 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 499.95 Td (operating results that vary from the expectations of management, securities analysts and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 486.15 Td (investors;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 472.35 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 472.35 Td (changes in expectations as to our future financial performance, including financial estimates by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 458.55 Td (securities analysts and investors;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 444.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 444.75 Td (developments generally af) Tj ET Q q 0 0 0 rg BT 242.64 444.75 Td (fecting industries in which we operate;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 430.95 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 430.95 Td (announcements by us or our competitors of significant contracts, acquisitions, joint marketing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 417.15 Td (relationships, joint ventures or capital commitments;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 403.35 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 403.35 Td (announcements by third parties of significant claims or proceedings against us;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 389.55 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 389.55 Td (favorable or adverse regulatory or legislative developments;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 375.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 375.75 Td (our dividend policy;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 361.95 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 361.95 Td (future sales by the Company of equity or equity-linked securities; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 348.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 348.15 Td (general domestic and international economic conditions.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 320.55 Td (In addition, the stock market in general has experienced volatility that has often been unrelated to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (operating performance of a particular company) Tj ET Q q 0 0 0 rg BT 265.56 306.75 Td (. ) Tj ET Q q 0 0 0 rg BT 273.97 306.75 Td (These broad market fluctuations may adversely af) Tj ET Q q 0 0 0 rg BT 503.68 306.75 Td (fect the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.95 Td (market price of our common stock.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 279.15 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 265.35 Td (Certain provisions of our articles of incorporation and bylaws and of ) Tj ET Q q 0 0 0 rg BT 377.83 265.35 Td (Arizona law make it dif) Tj ET Q q 0 0 0 rg BT 488.17 265.35 Td (ficult for ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (shareholders to change the composition of our board and may discourage takeover attempts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 223.95 Td (These provisions, which could preclude our shareholders from receiving a change of control premium, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.15 Td (include the following:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 193.35 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 193.35 Td (restrictions on our ability to engage in a wide range of business combination transactions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 179.55 Td (with an interested shareholder \(generally) Tj ET Q q 0 0 0 rg BT 318.72 179.55 Td (, any person who owns 10% or more of our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 165.75 Td (outstanding voting power or any of our af) Tj ET Q q 0 0 0 rg BT 313.24 165.75 Td (filiates or associates\) or any af) Tj ET Q q 0 0 0 rg BT 453.22 165.75 Td (filiate or associate of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 151.95 Td (an interested shareholder) Tj ET Q q 0 0 0 rg BT 235.99 151.95 Td (, unless specific conditions are met;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 135.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 135.15 Td (anti-greenmail provisions of ) Tj ET Q q 0 0 0 rg BT 254.05 135.15 Td (Arizona law and our bylaws that prohibit us from purchasing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 121.35 Td (shares of our voting stock from beneficial owners of more than 5% of our outstanding shares ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 107.55 Td (unless specified conditions are satisfied;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 90.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 90.75 Td (the ability of the Board of Directors to increase the size of the Board of Directors and fill ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 76.95 Td (vacancies on the Board of Directors, whether resulting from such increase, or from death, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 63.15 Td (resignation, disqualification or otherwise; and) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 81 0 obj <>] /Rotate 0 /Contents 82 0 R>> endobj 82 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (37) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 734.55 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 734.55 Td (the ability of our Board of Directors to issue additional shares of common stock and shares of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 720.75 Td (preferred stock and to determine the price and, with respect to preferred stock, the other terms, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 706.95 Td (including preferences and voting rights, of those shares without shareholder approval.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.35 Td (While these provisions have the ef) Tj ET Q q 0 0 0 rg BT 244.01 679.35 Td (fect of encouraging persons seeking to acquire control of us to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (negotiate with our Board of Directors, they could enable the Board of Directors to hinder or frustrate a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (transaction that some, or a majority) Tj ET Q q 0 0 0 rg BT 211.63 651.75 Td (, of our shareholders might believe to be in their best interests and, in that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (case, may prevent or discourage attempts to remove and replace incumbent directors.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 183.80 610.35 Td (ITEM 1B. UNRESOL) Tj ET Q q 0 0 0 rg BT 293.93 610.35 Td (VED ST) Tj ET Q q 0 0 0 rg BT 334.30 610.35 Td (AFF) Tj ET Q q 0 0 0 rg BT 356.23 610.35 Td ( COMMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 596.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 582.75 Td (Neither Pinnacle ) Tj ET Q q 0 0 0 rg BT 165.13 582.75 Td (W) Tj ET Q q 0 0 0 rg BT 175.06 582.75 Td (est nor ) Tj ET Q q 0 0 0 rg BT 208.28 582.75 Td (APS has received written comments regarding its periodic or current reports ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (from the SEC staf) Tj ET Q q 0 0 0 rg BT 132.02 568.95 Td (f that were issued 180 days or more preceding the end of its 2014 fiscal year and that remain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (unresolved.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 83 0 obj <>] /Rotate 0 /Contents 84 0 R>> endobj 84 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (38) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 245.45 734.75 Td (ITEM 2. PROPER) Tj ET Q q 0 0 0 rg BT 340.24 734.75 Td (TIES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 720.95 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 707.15 Td (Generation Facilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.55 Td (APS) Tj ET Q q 0 0 0 rg BT 109.79 679.55 Td (s portfolio of owned and leased generating facilities is provided in the table below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 641.05 177.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 641.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 641.05 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 641.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 641.05 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 641.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 641.05 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 641.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 641.05 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 641.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 641.05 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 612.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 612.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 612.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 612.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 612.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 612.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 612.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 612.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 612.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 612.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 612.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 583.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 583.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 583.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 583.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 583.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 583.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 583.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 583.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 583.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 583.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 583.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 553.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 553.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 553.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 553.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 553.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 553.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 553.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 553.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 553.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 553.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 553.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 523.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 523.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 523.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 523.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 523.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 523.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 523.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 523.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 523.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 523.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 523.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 494.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 494.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 494.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 494.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 494.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 494.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 494.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 494.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 494.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 494.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 494.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 464.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 464.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 464.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 464.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 464.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 464.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 464.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 464.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 464.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 464.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 464.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 435.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 435.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 435.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 435.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 435.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 435.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 435.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 435.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 435.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 435.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 435.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 405.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 405.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 405.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 405.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 405.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 405.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 405.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 405.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 405.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 405.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 405.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 375.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 375.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 375.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 375.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 375.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 375.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 375.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 375.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 375.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 375.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 375.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 345.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 345.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 345.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 345.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 345.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 345.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 345.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 345.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 345.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 345.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 345.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 315.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 315.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 315.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 315.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 315.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 315.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 315.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 315.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 315.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 315.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 315.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 285.05 177.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 285.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 285.05 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 285.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 285.05 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 285.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 285.05 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 285.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 285.05 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 285.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 285.05 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 256.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 256.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 256.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 256.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 256.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 256.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 256.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 256.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 256.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 256.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 256.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 226.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 226.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 226.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 226.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 226.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 226.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 226.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 226.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 226.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 226.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 226.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 196.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 196.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 196.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 196.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 196.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 196.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 196.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 196.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 196.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 196.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 196.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 166.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 166.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 166.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 166.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 166.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 166.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 166.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 166.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 166.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 166.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 166.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 136.05 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 136.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 136.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 136.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.00 136.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 136.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 136.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 136.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 136.05 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 136.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 136.05 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 50 641.05 m 227 641.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231 641.05 m 291 641.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295 641.05 m 355 641.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 641.05 m 419 641.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 641.05 m 498 641.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 641.05 m 562 641.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 612.05 m 562 612.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 597.05 m 562 597.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 523.05 m 562 523.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 508.04999999999995 m 562 508.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 464.04999999999995 m 562 464.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 449.04999999999995 m 562 449.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 300.04999999999995 m 562 300.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 285.04999999999995 m 562 285.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 136.04999999999995 m 562 136.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 121.04999999999995 m 562 121.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 107.04999999999995 m 562 107.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 105.04999999999995 m 562 105.04999999999995 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 645.28 Td (Name) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 250.25 653.28 Td (No.of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 251.35 645.28 Td (Units) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.50 653.28 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.60 645.28 Td (Owned\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.70 661.13 Td (Principal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 379.35 653.13 Td (Fuels) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.05 645.13 Td (Used) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.55 661.13 Td (Primary) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.85 653.13 Td (Dispatch) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.60 645.13 Td (T) Tj ET Q q 0 0 0 rg BT 456.34 645.13 Td (ype) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.25 661.13 Td (Owned) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.15 653.13 Td (Capacity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.05 645.13 Td (\(MW\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 631.78 Td (Nuclear:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 287.50 629.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 629.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 415.50 629.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 494.50 629.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 629.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 617.62 Td (Palo Verde \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 616.72 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 616.72 Td (29.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.15 616.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.70 616.72 Td (Uranium) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.75 616.72 Td (Base Load) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 616.72 Td (1,146) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 602.78 Td (Total Nuclear) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 260.50 599.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 599.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 388.50 599.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 460.00 599.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 601.72 Td (1,146) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 587.78 Td (Steam:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 260.50 585.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 585.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 388.50 585.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 460.00 585.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 585.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 573.62 Td (Four Corners 4, 5 \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 572.72 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 572.72 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.15 572.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.05 572.72 Td (Coal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.75 572.72 Td (Base Load) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 572.72 Td (970) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 558.62 Td (Cholla) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 557.72 Td (3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 555.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.05 557.72 Td (Coal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.75 557.72 Td (Base Load) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 557.72 Td (647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 543.62 Td (Navajo \(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 542.72 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 542.72 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.15 542.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.05 542.72 Td (Coal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.75 542.72 Td (Base Load) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 542.72 Td (315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 528.62 Td (Ocotillo) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 527.72 Td (2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 525.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.70 527.72 Td (Gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.85 527.72 Td (Peaking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 527.72 Td (220) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 513.78 Td (Total Steam) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 260.50 510.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 510.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 388.50 510.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 460.00 510.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 512.72 Td (2,152) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 498.78 Td (Combined Cycle:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 260.50 496.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 496.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 388.50 496.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 460.00 496.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 496.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 484.62 Td (Redhawk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 483.72 Td (2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 481.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.70 483.72 Td (Gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.90 483.72 Td (Load Following) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 483.72 Td (984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 469.62 Td (West Phoenix) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 468.72 Td (5) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 466.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.70 468.72 Td (Gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.90 468.72 Td (Load Following) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 468.72 Td (887) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 454.78 Td (Total Combined Cycle) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 260.50 451.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 451.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 388.50 451.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 460.00 451.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 453.72 Td (1,871) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 439.78 Td (Combustion Turbine:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 260.50 437.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 437.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 388.50 437.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 460.00 437.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 437.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 425.62 Td (Ocotillo) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 424.72 Td (2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 422.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.70 424.72 Td (Gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.85 424.72 Td (Peaking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 424.72 Td (110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 410.62 Td (Saguaro 1, 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 409.72 Td (2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 407.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.90 409.72 Td (Gas/Oil) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.85 409.72 Td (Peaking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 409.72 Td (110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 395.62 Td (Saguaro 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 394.72 Td (1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 392.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.70 394.72 Td (Gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.85 394.72 Td (Peaking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 394.72 Td (79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 380.62 Td (Douglas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 379.72 Td (1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 377.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.10 379.72 Td (Oil) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.85 379.72 Td (Peaking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 379.72 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 365.62 Td (Sundance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.50 364.72 Td (10) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 362.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.70 364.72 Td (Gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.85 364.72 Td (Peaking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 364.72 Td (420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 350.62 Td (West Phoenix) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 349.72 Td (2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 347.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.70 349.72 Td (Gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.85 349.72 Td (Peaking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 349.72 Td (110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 335.62 Td (Yucca 1, 2, 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 334.72 Td (3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 332.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.90 334.72 Td (Gas/Oil) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.85 334.72 Td (Peaking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 334.72 Td (93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 320.62 Td (Yucca 4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 319.72 Td (1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 317.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.10 319.72 Td (Oil) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.85 319.72 Td (Peaking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 319.72 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 305.62 Td (Yucca 5, 6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 304.72 Td (2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 302.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.70 304.72 Td (Gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.85 304.72 Td (Peaking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 304.72 Td (96) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 290.78 Td (Total Combustion Turbine) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 260.50 287.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 287.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 388.50 287.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 460.00 287.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 289.72 Td (1,088) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 275.78 Td (Solar:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 260.50 273.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 273.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 388.50 273.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 460.00 273.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 273.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 261.62 Td (Cotton Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 260.72 Td (1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 258.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 260.72 Td (Solar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.40 260.72 Td (As Available) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 260.72 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 246.62 Td (Hyder) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 245.72 Td (1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 243.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 245.72 Td (Solar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.40 245.72 Td (As Available) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 245.72 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 231.62 Td (Paloma) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 230.72 Td (1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 228.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 230.72 Td (Solar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.40 230.72 Td (As Available) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 230.72 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 216.62 Td (Chino Valley) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 215.72 Td (1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 213.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 215.72 Td (Solar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.40 215.72 Td (As Available) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 215.72 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 201.62 Td (Gila Bend) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 200.72 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 200.72 Td (Solar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.40 200.72 Td (As Available) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 200.72 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 186.62 Td (Hyder II) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 185.72 Td (1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 183.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 185.72 Td (Solar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.40 185.72 Td (As Available) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 185.72 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 171.62 Td (Foothills) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 170.72 Td (1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 168.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 170.72 Td (Solar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.40 170.72 Td (As Available) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 170.72 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 156.62 Td (APS Owned Distributed Energy) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 260.50 153.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 153.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 155.72 Td (Solar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.40 155.72 Td (As Available) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 155.72 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 141.62 Td (Multiple facilities) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 260.50 138.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 138.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 140.72 Td (Solar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.40 140.72 Td (As Available) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 140.72 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 126.78 Td (Total Solar) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 260.50 123.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 123.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 388.50 123.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 460.00 123.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 125.72 Td (169) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 111.78 Td (Total Capacity) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 260.50 108.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 108.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 388.50 108.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 460.00 108.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 110.72 Td (6,426) Tj ET Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 85 0 obj <>] /Rotate 0 /Contents 86 0 R>> endobj 86 0 obj <> stream 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 67.50 734.55 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 734.55 Td (100% unless otherwise noted.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 720.75 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 720.75 Td ( See Business of ) Tj ET Q q 0 0 0 rg BT 168.55 720.75 Td (Arizona Public Service Company Ener) Tj ET Q q 0 0 0 rg BT 361.56 720.75 Td (gy Sources and Resource Planning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 706.95 Td (Generation Facilities Nuclear in Item 1 for details regarding leased interests in Palo ) Tj ET Q q 0 0 0 rg BT 491.51 706.95 Td (V) Tj ET Q q 0 0 0 rg BT 498.54 706.95 Td (erde. ) Tj ET Q q 0 0 0 rg BT 526.74 706.95 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.15 Td (other participants are Salt River Project \(17.49%\), SCE \(15.8%\), El Paso \(15.8%\), Public Service ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.35 Td (Company of New Mexico \(10.2%\), Southern California Public Power ) Tj ET Q q 0 0 0 rg BT 409.05 679.35 Td (Authority \(5.91%\), and Los ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.55 Td (Angeles Department of ) Tj ET Q q 0 0 0 rg BT 195.47 665.55 Td (W) Tj ET Q q 0 0 0 rg BT 205.40 665.55 Td (ater& Power \(5.7%\). ) Tj ET Q q 0 0 0 rg BT 309.62 665.55 Td (The plant is operated by ) Tj ET Q q 0 0 0 rg BT 423.00 665.55 Td (APS.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 651.75 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 651.75 Td (The other participants are Salt River Project \(10%\), Public Service Company of New Mexico \(13%\), ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 637.95 Td (T) Tj ET Q q 0 0 0 rg BT 92.12 637.95 Td (ucson Electric Power Company \(7%\) and El Paso \(7%\). ) Tj ET Q q 0 0 0 rg BT 354.76 637.95 Td (The plant is operated by ) Tj ET Q q 0 0 0 rg BT 468.13 637.95 Td (APS. ) Tj ET Q q 0 0 0 rg BT 497.22 637.95 Td (As discussed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.15 Td (under Business of ) Tj ET Q q 0 0 0 rg BT 175.26 624.15 Td (Arizona Public Service Company Ener) Tj ET Q q 0 0 0 rg BT 368.27 624.15 Td (gy Sources and Resource Planning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.35 Td (Generation Facilities Coal-Fueled Generating Facilities Four Corners in Item 1, in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 596.55 Td (December2013 ) Tj ET Q q 0 0 0 rg BT 160.86 596.55 Td (APS acquired SCE) Tj ET Q q 0 0 0 rg BT 251.59 596.55 Td (s 48% interest in Units 4 and 5, and closed Units 1, 2 and 3.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 582.75 Td (\(d\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 582.75 Td (The other participants are Salt River Project \(21.7%\), Nevada Power Company \(1) Tj ET Q q 0 0 0 rg BT 460.95 582.75 Td (1.3%\), the United ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 568.95 Td (States Government \(24.3%\), ) Tj ET Q q 0 0 0 rg BT 219.11 568.95 Td (T) Tj ET Q q 0 0 0 rg BT 225.73 568.95 Td (ucson Electric Power Company \(7.5%\) and Los ) Tj ET Q q 0 0 0 rg BT 447.38 568.95 Td (Angeles Department of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.15 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 555.15 Td (ater& Power \(21.2%\). ) Tj ET Q q 0 0 0 rg BT 205.40 555.15 Td (The plant is operated by Salt River Project.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 535.35 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 535.35 Td (See Business of ) Tj ET Q q 0 0 0 rg BT 165.68 535.35 Td (Arizona Public Service Company Environmental Matters in Item 1 with respect ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 521.55 Td (to matters having a possible impact on the operation of certain of ) Tj ET Q q 0 0 0 rg BT 350.98 521.55 Td (APS) Tj ET Q q 0 0 0 rg BT 375.27 521.55 Td (s generating facilities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 507.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 493.95 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 493.95 Td (See Business of ) Tj ET Q q 0 0 0 rg BT 165.68 493.95 Td (Arizona Public Service Company in Item 1 for a map detailing the location of ) Tj ET Q q 0 0 0 rg BT 531.03 493.95 Td (APS) Tj ET Q q 0 0 0 rg BT 555.32 493.95 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 480.15 Td (major power plants and principal transmission lines.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 466.35 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 452.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.32 452.55 Td (ransmission and Distribution Facilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 438.75 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 424.95 Td (Current Facilities) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 170.17 424.95 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 173.04 424.95 Td ( ) Tj ET Q q 0 0 0 rg BT 178.16 424.95 Td (APS) Tj ET Q q 0 0 0 rg BT 202.45 424.95 Td (s transmission facilities consist of approximately 5,909 pole miles of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 411.15 Td (overhead lines and approximately 49 miles of under) Tj ET Q q 0 0 0 rg BT 288.49 411.15 Td (ground lines, 5,686 miles of which are located in ) Tj ET Q q 0 0 0 rg BT 515.57 411.15 Td (Arizona. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 397.35 Td (APS) Tj ET Q q 0 0 0 rg BT 73.79 397.35 Td (s distribution facilities consist of approximately 1) Tj ET Q q 0 0 0 rg BT 301.42 397.35 Td (1,071 miles of overhead lines and approximately 17,908 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 383.55 Td (miles of under) Tj ET Q q 0 0 0 rg BT 115.72 383.55 Td (ground primary cable, all of which are located in ) Tj ET Q q 0 0 0 rg BT 342.45 383.55 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 387.48 383.55 Td (APS distribution facilities reflect an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 369.75 Td (actual net gain of 167 miles in 2014. ) Tj ET Q q 0 0 0 rg BT 222.61 369.75 Td (APS shares ownership of some of its transmission facilities with other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 355.95 Td (companies. ) Tj ET Q q 0 0 0 rg BT 107.10 355.95 Td (The following table shows ) Tj ET Q q 0 0 0 rg BT 231.67 355.95 Td (APS) Tj ET Q q 0 0 0 rg BT 255.96 355.95 Td (s jointly-owned interests in those transmission facilities recorded ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 342.15 Td (on the Consolidated Balance Sheets at December31, 2014:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 328.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 288.85 442.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 288.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 260.85 442.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 260.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 232.85 442.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 232.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 204.85 442.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 204.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 176.85 442.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 176.85 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 492 288.85 m 562 288.85 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 291.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.20 309.08 Td (Per) Tj ET Q q 0 0 0 rg BT 512.04 309.08 Td (centOwned) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.60 301.08 Td (\(W) Tj ET Q q 0 0 0 rg BT 517.82 301.08 Td (eighted-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.25 293.08 Td (A) Tj ET Q q 0 0 0 rg BT 516.43 293.08 Td (verage\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 279.42 Td (Morgan Pinnacle Peak System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 279.42 Td (64.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 279.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 265.42 Td (Palo Verde Estrella 500kV System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 265.42 Td (50.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 265.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 251.42 Td (Round Valley System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 251.42 Td (50.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 251.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 237.42 Td (ANPP 500kV System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 237.42 Td (33.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 237.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 223.42 Td (Navajo Southern System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 223.42 Td (22.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 223.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 209.42 Td (Four Corners Switchyards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 209.42 Td (47.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 209.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 195.42 Td (Palo Verde Yuma 500kV System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 195.42 Td (18.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 195.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 181.42 Td (Phoenix Mead System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 181.42 Td (17.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 181.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 167.42 Td (Palo Verde Morgan System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 167.42 Td (90.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 167.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 153.42 Td (Hassayampa North Gila System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 153.42 Td (80.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 153.42 Td (%) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 135.55 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 121.75 Td (Expansion.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.51 121.75 Td ( Each year ) Tj ET Q q 0 0 0 rg BT 193.15 121.75 Td (APS prepares and files with the ) Tj ET Q q 0 0 0 rg BT 340.71 121.75 Td (ACC a ten-year transmission plan. In ) Tj ET Q q 0 0 0 rg BT 517.01 121.75 Td (APS) Tj ET Q q 0 0 0 rg BT 541.31 121.75 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 107.95 Td (2015 plan, ) Tj ET Q q 0 0 0 rg BT 100.29 107.95 Td (APS projects it will develop 275 miles of new lines over the next ten years. One significant project ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 94.15 Td (currently under development is a new 500kV) Tj ET Q q 0 0 0 rg BT 256.87 94.15 Td ( path that will span from the Palo ) Tj ET Q q 0 0 0 rg BT 412.53 94.15 Td (V) Tj ET Q q 0 0 0 rg BT 419.56 94.15 Td (erde hub around the western ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 80.35 Td (and northern edges of the Phoenix metropolitan area and terminate at a bulk substation in the northeast part of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 66.55 Td (Phoenix. ) Tj ET Q q 0 0 0 rg BT 95.61 66.55 Td (The project consists of four phases. ) Tj ET Q q 0 0 0 rg BT 264.04 66.55 Td (The first phase, Mor) Tj ET Q q 0 0 0 rg BT 357.72 66.55 Td (gan to Pinnacle Peak 500kV) Tj ET Q q 0 0 0 rg BT 486.55 66.55 Td (, is currently in-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 52.75 Td (service. ) Tj ET Q q 0 0 0 rg BT 90.48 52.75 Td (The second and third phases, Delaney to Palo ) Tj ET Q q 0 0 0 rg BT 302.65 52.75 Td (V) Tj ET Q q 0 0 0 rg BT 309.68 52.75 Td (erde 500kV) Tj ET Q q 0 0 0 rg BT 363.44 52.75 Td ( and Delaney to Sun ) Tj ET Q q 0 0 0 rg BT 459.37 52.75 Td (V) Tj ET Q q 0 0 0 rg BT 466.40 52.75 Td (alley 500kV) Tj ET Q q 0 0 0 rg BT 521.45 52.75 Td (, are ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 87 0 obj <>] /Rotate 0 /Contents 88 0 R>> endobj 88 0 obj <> stream 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 49.50 734.55 Td (under construction. ) Tj ET Q q 0 0 0 rg BT 143.83 734.55 Td (The fourth phase, Mor) Tj ET Q q 0 0 0 rg BT 249.97 734.55 Td (gan to Sun ) Tj ET Q q 0 0 0 rg BT 301.83 734.55 Td (V) Tj ET Q q 0 0 0 rg BT 308.86 734.55 Td (alley 500kV) Tj ET Q q 0 0 0 rg BT 363.91 734.55 Td (, has been permitted and is in final design ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (and development. In total, the projects consist of over 100 miles of new 500kV) Tj ET Q q 0 0 0 rg BT 415.94 720.75 Td ( lines, with many of those ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (miles constructed with the capability to string a 230kV) Tj ET Q q 0 0 0 rg BT 301.61 706.95 Td ( line as a second circuit.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 679.35 Td (APS continues to work with regulators to identify transmission projects necessary to support renewable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 665.55 Td (gy facilities. ) Tj ET Q q 0 0 0 rg BT 131.47 665.55 Td (T) Tj ET Q q 0 0 0 rg BT 137.69 665.55 Td (wo such projects, which are included in ) Tj ET Q q 0 0 0 rg BT 322.28 665.55 Td (APS) Tj ET Q q 0 0 0 rg BT 346.58 665.55 Td (s 2015 transmission plan, are the Delaney to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (Palo ) Tj ET Q q 0 0 0 rg BT 72.61 651.75 Td (V) Tj ET Q q 0 0 0 rg BT 79.64 651.75 Td (erde line and the North Gila to Hassayampa line, both of which are intended to support the transmission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (of renewable ener) Tj ET Q q 0 0 0 rg BT 131.66 637.95 Td (gy to Phoenix and California. ) Tj ET Q q 0 0 0 rg BT 270.07 637.95 Td (The North Gila to Hassayampa line is under construction and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (expected to be in service before the summer of 2015.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 596.55 Td (Physical Security Standards. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 227.03 596.55 Td (On March7, 2014, FERC issued an order requiring NERC to act within ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (90 days to develop standards that will require utilities to take steps, or to demonstrate that they have taken ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (steps, to address physical security risks and vulnerabilities related to the reliable operation of the bulk-power ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (system. On May23, 2014, NERC filed a petition with FERC for approval of the proposed Physical Security ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.35 Td (Reliability Standard CIP-014-1. On November 20, 2014, FERC approved the Physical Security Reliability ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (Standard CIP-014-1, and on January 21, 2015, FERC issued an order granting rehearing for further ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (consideration. ) Tj ET Q q 0 0 0 rg BT 119.87 513.75 Td (The Physical Security Reliability Standard requires transmission owners and operators to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (protect those critical transmission stations and substations and their associated primary control centers that, if ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (rendered inoperable or damaged as a result of a physical attack, could result in widespread instability) Tj ET Q q 0 0 0 rg BT 513.71 486.15 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (uncontrolled separation or cascading within an interconnection. ) Tj ET Q q 0 0 0 rg BT 346.82 472.35 Td (As required by the Physical Security ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (Reliability Standard, ) Tj ET Q q 0 0 0 rg BT 146.92 458.55 Td (APS will determine whether it has any critical transmission stations and substations and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (associated primary control centers that will be required to comply with the standard. Until ) Tj ET Q q 0 0 0 rg BT 468.51 444.75 Td (APS has made such ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.95 Td (determination, we cannot predict the extent of any financial or operational impacts on ) Tj ET Q q 0 0 0 rg BT 446.12 430.95 Td (APS. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 417.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (Plant and ) Tj ET Q q 0 0 0 rg BT 99.78 403.35 Td (T) Tj ET Q q 0 0 0 rg BT 106.60 403.35 Td (ransmission Line Leases and Rights-of-W) Tj ET Q q 0 0 0 rg BT 310.44 403.35 Td (ay on Indian Lands) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 375.75 Td (The Navajo Plant and Four Corners are located on land held under leases from the Navajo Nation and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (also under rights-of-way from the federal government. ) Tj ET Q q 0 0 0 rg BT 305.72 361.95 Td (The right-of-way and lease for the Navajo Plant expire ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (in 2019 and the right-of-way and lease for Four Corners expire in 2016. On March7, 201) Tj ET Q q 0 0 0 rg BT 463.30 348.15 Td (1, the Navajo Nation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td (Council signed a resolution approving a 25-year extension to the existing Four Corners lease term and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.55 Td (providing Navajo Nation consent to renewal of the related rights-of-way) Tj ET Q q 0 0 0 rg BT 381.83 320.55 Td (. ) Tj ET Q q 0 0 0 rg BT 392.70 320.55 Td (APS is filing applications for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (renewal of these rights-of-way with the DOI. Before it may approve the Four Corners lease extension and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.95 Td (issue the renewed rights-of-way) Tj ET Q q 0 0 0 rg BT 195.97 292.95 Td (, the United States must complete an analysis under the federal National ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.15 Td (Environmental Policy ) Tj ET Q q 0 0 0 rg BT 152.35 279.15 Td (Act, the ESA) Tj ET Q q 0 0 0 rg BT 212.72 279.15 Td ( and related statutes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 251.55 Td (Certain portions of the transmission lines that carry power from several of our power plants are located ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (on Indian lands pursuant to rights-of-way that are ef) Tj ET Q q 0 0 0 rg BT 288.81 237.75 Td (fective for specified periods. Some of these rights-of-way ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.95 Td (have expired and our renewal applications have not yet been acted upon by the appropriate Indian tribes or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.15 Td (federal agencies. Other rights expire at various times in the future and renewal action by the applicable tribe or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.35 Td (federal agencies will be required at that time. In recent negotiations, certain of the af) Tj ET Q q 0 0 0 rg BT 440.45 196.35 Td (fected Indian tribes have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.55 Td (required payments substantially in excess of amounts that we have paid in the past for such rights-of-way) Tj ET Q q 0 0 0 rg BT 533.56 182.55 Td (. ) Tj ET Q q 0 0 0 rg BT 541.97 182.55 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.75 Td (ultimate cost of renewal of certain of the rights-of-way for our transmission lines is therefore uncertain.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 154.95 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 89 0 obj <>] /Rotate 0 /Contents 90 0 R>> endobj 90 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (41) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 218.60 734.75 Td (ITEM 3. LEGAL) Tj ET Q q 0 0 0 rg BT 306.15 734.75 Td ( PROCEEDINGS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 720.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.15 Td (See Business of ) Tj ET Q q 0 0 0 rg BT 165.68 707.15 Td (Arizona Public Service Company Environmental Matters in Item 1 with regard to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.35 Td (pending or threatened litigation and other disputes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 673.55 Td (See Note 3 for ) Tj ET Q q 0 0 0 rg BT 157.36 673.55 Td (ACC and FERC-related matters.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 653.75 Td (See Note 10 for information regarding environmental matters, Superfundrelated matters, matters ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 639.95 Td (related to a September201) Tj ET Q q 0 0 0 rg BT 172.34 639.95 Td (1 power outage and a New Mexico tax matter) Tj ET Q q 0 0 0 rg BT 381.82 639.95 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 200.45 626.15 Td (ITEM 4. MINE SAFETY) Tj ET Q q 0 0 0 rg BT 327.50 626.15 Td ( DISCLOSURES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 612.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 598.55 Td (Not applicable.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 91 0 obj <>] /Rotate 0 /Contents 92 0 R>> endobj 92 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (42) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 182.75 734.75 Td (EXECUTIVE OFFICERS OF) Tj ET Q q 0 0 0 rg BT 330.57 734.75 Td ( PINNACLE ) Tj ET Q q 0 0 0 rg BT 396.17 734.75 Td (WEST) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 720.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.15 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 707.15 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 707.15 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 707.15 Td (s executive of) Tj ET Q q 0 0 0 rg BT 217.33 707.15 Td (ficers are elected no less often than annually and may be removed by the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.35 Td (Board of Directors at any time. ) Tj ET Q q 0 0 0 rg BT 198.11 693.35 Td (The executive of) Tj ET Q q 0 0 0 rg BT 275.17 693.35 Td (ficers, their ages at February20, 2015, current positions and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.55 Td (principal occupations for the past five years are as follows: ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.75 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 642.25 91.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 642.25 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 642.25 39.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 642.25 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 642.25 303.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 642.25 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 642.25 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 602.25 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 602.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 602.25 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 602.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 602.25 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 602.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 602.25 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 572.25 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 572.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 572.25 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 572.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 572.25 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 572.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 572.25 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 542.25 91.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 542.25 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 542.25 39.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 542.25 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 542.25 303.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 542.25 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 542.25 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 502.25 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 502.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 502.25 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 502.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 502.25 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 502.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 502.25 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 472.25 91.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 472.25 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 472.25 39.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 472.25 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 472.25 303.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 472.25 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 472.25 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 432.25 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 432.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 432.25 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 432.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 432.25 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 432.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 432.25 67.00 -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 50 642.25 m 141 642.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145 642.25 m 184 642.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 188 642.25 m 491 642.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 642.25 m 562 642.25 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 646.48 Td (Name) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 157.30 646.48 Td (Age) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.20 646.48 Td (Position) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.65 646.48 Td (Period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 632.82 Td (Donald E. Brandt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 632.82 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 632.82 Td (Chairman of the Board and Chief Executive Officer of Pinnacle West;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 622.82 Td (Chairman of the Board of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 632.82 Td (2009-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 614.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 614.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 607.82 Td (President of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 607.82 Td (2013-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 599.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 599.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 592.82 Td (President of Pinnacle West) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 592.82 Td (2008-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 584.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 584.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 577.82 Td (Chief Executive Officer of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 577.82 Td (2008-Present) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 562.82 Td (Robert S. Bement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 562.82 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 562.82 Td (Senior Vice President, Site Operations, PVNGS, of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 562.82 Td (2010-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 554.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 554.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 547.82 Td (Vice President, Nuclear Operations of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 547.82 Td (2007-2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 532.82 Td (Denise R. Danner) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 532.82 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 532.82 Td (Vice President, Controller and Chief Accounting Officer of Pinnacle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 522.82 Td (West; Chief Accounting Officer of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 532.82 Td (2010-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 514.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 514.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 507.82 Td (Vice President and Controller of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 507.82 Td (2009-Present) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 492.82 Td (Patrick Dinkel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 492.82 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 492.82 Td (Vice President, Transmission and Distribution Operations of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 492.82 Td (2014-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 484.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 484.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 477.82 Td (Vice President, Resource Management of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 477.82 Td (2012-2014) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 469.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 469.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 462.82 Td (Vice President, Power Marketing, Resource Planning and Acquisition of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 452.82 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.50 462.82 Td (2011-2012) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 444.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 444.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 437.82 Td (Vice President, Power Marketing and Resource Planning of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.50 437.82 Td (2010-2011) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 429.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 429.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 422.82 Td (General Manager, Strategic Planning and Resource Acquisition of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 422.82 Td (2009-2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 407.82 Td (Randall K. Edington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 407.82 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 407.82 Td (Executive Vice President and Chief Nuclear Officer, PVNGS, of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 407.82 Td (2007-Present) Tj ET Q BT /F1 11.50 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 392.25 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 392.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 392.25 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 392.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 392.25 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 392.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 392.25 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 362.25 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 362.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 362.25 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 362.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 362.25 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 362.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 362.25 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 332.25 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 332.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 332.25 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 332.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 332.25 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 332.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 332.25 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 302.25 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 302.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 302.25 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 302.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 302.25 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 302.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 302.25 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 272.25 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 272.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 272.25 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 272.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 272.25 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 272.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 272.25 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 242.25 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 242.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 242.25 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 242.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 242.25 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 242.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 242.25 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 212.25 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 212.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 212.25 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 212.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 212.25 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 212.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 212.25 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 182.25 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 182.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 182.25 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 182.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 182.25 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 182.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 182.25 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 152.25 91.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 152.25 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 152.25 39.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 152.25 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 152.25 303.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 152.25 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 152.25 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 112.25 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.00 112.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 112.25 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 112.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 112.25 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 112.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 112.25 67.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 382.82 Td (David P. Falck) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 382.82 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 382.82 Td (Executive Vice President and General Counsel of Pinnacle West and APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 382.82 Td (2009-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 374.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 374.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 367.82 Td (Secretary of Pinnacle West and APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 367.82 Td (2009-2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 352.82 Td (Daniel T. Froetscher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 352.82 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 352.82 Td (Senior Vice President, Transmission, Distribution & Customers of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 352.82 Td (2014-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 344.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 344.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 337.82 Td (Vice President, Energy Delivery of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 337.82 Td (2008-2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 322.82 Td (Jeffrey B. Guldner) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 322.82 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 322.82 Td (Senior Vice President, Public Policy of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 322.82 Td (2014-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 314.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 314.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 307.82 Td (Senior Vice President, Customers and Regulation of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 307.82 Td (2012-2014) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 299.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 299.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 292.82 Td (Vice President, Rates and Regulation of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 292.82 Td (2007-2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 277.82 Td (James R. Hatfield) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 277.82 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 277.82 Td (Executive Vice President of Pinnacle West and APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 277.82 Td (2012-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 269.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 269.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 262.82 Td (Chief Financial Officer of Pinnacle West and APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 262.82 Td (2008-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 254.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 254.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 247.82 Td (Senior Vice President of Pinnacle West and APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 247.82 Td (2008-2012) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 239.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 239.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 232.82 Td (Treasurer of Pinnacle West and APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 232.82 Td (2009-2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 217.82 Td (John S. Hatfield) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 217.82 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 217.82 Td (Vice President, Communications of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 217.82 Td (2010-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 209.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 209.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 202.82 Td (Director, Corporate Communications of SCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 202.82 Td (2004-2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 187.82 Td (Tammy D. McLeod) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 187.82 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 187.82 Td (Vice President, Resource Management of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 187.82 Td (2014-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 179.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 179.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 172.82 Td (Vice President and Chief Customer Officer of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 172.82 Td (2007-2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 157.82 Td (Lee R. Nickloy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 157.82 Td (48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 157.82 Td (Vice President and Treasurer of Pinnacle West and APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 157.82 Td (2010-Present) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 149.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 149.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 142.82 Td (Assistant Treasurer and Director Corporate Finance of Ameren) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 132.82 Td (Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 142.82 Td (2000-2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 117.82 Td (Mark A. Schiavoni) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 117.82 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 117.82 Td (Executive Vice President and Chief Operating Officer of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 117.82 Td (2014-Present) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 102.82 Td (Executive Vice President, Operations of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 102.82 Td (2012-2014) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 94.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 147.50 94.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.50 87.82 Td (Senior Vice President, Fossil Operations of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 87.82 Td (2009-2012) Tj ET Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 93 0 obj <>] /Rotate 0 /Contents 94 0 R>> endobj 94 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (43) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 285.15 734.75 Td (P) Tj ET Q q 0 0 0 rg BT 291.32 734.75 Td (AR) Tj ET Q q 0 0 0 rg BT 307.53 734.75 Td (T) Tj ET Q q 0 0 0 rg BT 314.99 734.75 Td (II) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.70 707.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 116.58 707.15 Td (ITEM 5. MARKET) Tj ET Q q 0 0 0 rg BT 216.04 707.15 Td ( FOR REGISTRANTS) Tj ET Q q 0 0 0 rg BT 331.49 707.15 Td ( COMMON EQUITY) Tj ET Q q 0 0 0 rg BT 437.76 707.15 Td (, RELA) Tj ET Q q 0 0 0 rg BT 474.61 707.15 Td (TED ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 90.15 693.35 Td (ST) Tj ET Q q 0 0 0 rg BT 104.01 693.35 Td (OCKHOLDER MA) Tj ET Q q 0 0 0 rg BT 201.23 693.35 Td (TTERS ) Tj ET Q q 0 0 0 rg BT 241.18 693.35 Td (AND ISSUER PURCHASES OF) Tj ET Q q 0 0 0 rg BT 401.47 693.35 Td ( EQUITY) Tj ET Q q 0 0 0 rg BT 449.29 693.35 Td ( SECURITIES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 679.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.75 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 665.75 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 665.75 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 665.75 Td (s common stock is publicly held and is traded on the New ) Tj ET Q q 0 0 0 rg BT 422.18 665.75 Td (Y) Tj ET Q q 0 0 0 rg BT 429.33 665.75 Td (ork Stock Exchange. ) Tj ET Q q 0 0 0 rg BT 529.93 665.75 Td (At the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td (close of business on February13, 2015, Pinnacle ) Tj ET Q q 0 0 0 rg BT 277.34 651.95 Td (W) Tj ET Q q 0 0 0 rg BT 287.28 651.95 Td (est) Tj ET Q q 0 0 0 rg BT 303.25 651.95 Td (s common stock was held of record by approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.15 Td (21,649 shareholders.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (QUAR) Tj ET Q q 0 0 0 rg BT 81.40 610.55 Td (TERL) Tj ET Q q 0 0 0 rg BT 108.99 610.55 Td (Y) Tj ET Q q 0 0 0 rg BT 116.87 610.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 132.96 610.55 Td (OCK PRICES ) Tj ET Q q 0 0 0 rg BT 201.34 610.55 Td (AND DIVIDENDS P) Tj ET Q q 0 0 0 rg BT 299.95 610.55 Td (AID PER SHARE) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.75 Td (ST) Tj ET Q q 0 0 0 rg BT 62.71 596.75 Td (OCK SYMBOL: PNW) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 562.25 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 562.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 562.25 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 562.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 562.25 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 562.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 562.25 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 562.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 562.25 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 534.25 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 534.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 534.25 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 534.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 534.25 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 534.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 534.25 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 534.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 534.25 65.00 -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 50 562.25 m 286 562.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 562.25 m 355 562.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 562.25 m 424 562.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 562.25 m 493 562.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 562.25 m 562 562.25 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 576.97 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 322.00 576.97 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 391.00 576.97 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 460.00 576.97 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.85 578.33 Td (Dividends) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 566.33 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 313.55 566.33 Td (High) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.40 566.33 Td (Low) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.65 566.33 Td (Close) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.15 566.33 Td (PerShare) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 552.82 Td (1) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 57.50 552.82 Td (st) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.17 552.82 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 552.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 552.82 Td (55.99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 552.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 552.82 Td (51.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 552.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 552.82 Td (54.66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 552.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 552.82 Td (0.5675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 538.82 Td (2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 57.50 538.82 Td (nd) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 538.82 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 538.82 Td (58.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 538.82 Td (53.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 538.82 Td (57.84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 538.82 Td (0.5675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 524.82 Td (3) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 57.50 524.82 Td (rd) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.33 524.82 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 524.82 Td (57.95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 524.82 Td (52.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 524.82 Td (54.64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 524.82 Td (0.5675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 510.82 Td (4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 57.50 510.82 Td (th) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.94 510.82 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 510.82 Td (71.11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 510.82 Td (54.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 510.82 Td (68.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 510.82 Td (0.595) Tj ET Q BT /F1 11.50 Tf ET BT /F1 12.00 Tf ET q 0 0 0 rg BT 49.50 492.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 457.85 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 457.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 457.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 457.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 457.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 457.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 457.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 457.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 457.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 429.85 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 429.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 429.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 429.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 429.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 429.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 429.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 429.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 429.85 65.00 -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 50 457.85 m 286 457.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 457.85 m 355 457.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 457.85 m 424 457.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 457.85 m 493 457.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 457.85 m 562 457.85 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 472.57 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 322.00 472.57 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 391.00 472.57 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 460.00 472.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.85 473.93 Td (Dividends) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 461.93 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 313.55 461.93 Td (High) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.40 461.93 Td (Low) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.65 461.93 Td (Close) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.15 461.93 Td (PerShare) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 448.42 Td (1) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 57.50 448.42 Td (st) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.17 448.42 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 448.42 Td (57.96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 448.42 Td (51.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 448.42 Td (57.89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 448.42 Td (0.545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 434.42 Td (2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 57.50 434.42 Td (nd) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 434.42 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 434.42 Td (61.89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 434.42 Td (51.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 434.42 Td (55.47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 434.42 Td (0.545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 420.42 Td (3) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 57.50 420.42 Td (rd) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.33 420.42 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 420.42 Td (60.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 420.42 Td (52.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 420.42 Td (54.74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 420.42 Td (0.545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 406.42 Td (4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 57.50 406.42 Td (th) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.94 406.42 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 406.42 Td (58.70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 406.42 Td (52.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 406.42 Td (52.92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 406.42 Td (0.5675) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 388.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 374.75 Td (APS) Tj ET Q q 0 0 0 rg BT 109.79 374.75 Td (s common stock is wholly-owned by Pinnacle ) Tj ET Q q 0 0 0 rg BT 323.91 374.75 Td (W) Tj ET Q q 0 0 0 rg BT 333.85 374.75 Td (est and is not listed for trading on any stock ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 360.95 Td (exchange. ) Tj ET Q q 0 0 0 rg BT 100.91 360.95 Td (As a result, there is no established public trading market for ) Tj ET Q q 0 0 0 rg BT 378.12 360.95 Td (APS) Tj ET Q q 0 0 0 rg BT 402.42 360.95 Td (s common stock.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 347.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 333.35 Td (The chart below sets forth the dividends paid on ) Tj ET Q q 0 0 0 rg BT 309.38 333.35 Td (APS) Tj ET Q q 0 0 0 rg BT 333.68 333.35 Td (s common stock for each of the four quarters for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 319.55 Td (2014 and 2013.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 305.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 242.05 291.95 Td (Common Stock Dividends) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 249.85 278.15 Td (\(Dollars in ) Tj ET Q q 0 0 0 rg BT 304.59 278.15 Td (Thousands\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 255.65 374.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 255.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 255.65 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 255.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 255.65 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 227.65 374.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 227.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 227.65 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 227.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 227.65 65.00 -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 49.5 255.64999999999998 m 423.5 255.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 255.64999999999998 m 492.5 255.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 255.64999999999998 m 561.5 255.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 255.64999999999998 m 492.5 255.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 255.64999999999998 m 561.5 255.64999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 259.73 Td (Quarter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 259.73 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 259.73 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 246.22 Td (1) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 57.00 246.22 Td (st) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.67 246.22 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 246.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 246.22 Td (62,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 246.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 246.22 Td (59,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 232.22 Td (2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 57.00 232.22 Td (nd) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 232.22 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 232.22 Td (62,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 232.22 Td (59,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 218.22 Td (3) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 57.00 218.22 Td (rd) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.83 218.22 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 218.22 Td (62,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 218.22 Td (59,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 204.22 Td (4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 57.00 204.22 Td (th) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.44 204.22 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 204.22 Td (65,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 204.22 Td (62,500) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 186.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 172.55 Td (The sole holder of ) Tj ET Q q 0 0 0 rg BT 171.73 172.55 Td (APS) Tj ET Q q 0 0 0 rg BT 196.02 172.55 Td (s common stock, Pinnacle ) Tj ET Q q 0 0 0 rg BT 318.79 172.55 Td (W) Tj ET Q q 0 0 0 rg BT 328.72 172.55 Td (est, is entitled to dividends when and as declared ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 158.75 Td (out of legally available funds. ) Tj ET Q q 0 0 0 rg BT 191.62 158.75 Td (As of December31, 2014, ) Tj ET Q q 0 0 0 rg BT 315.22 158.75 Td (APS did not have any outstanding preferred stock.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 95 0 obj <>] /Rotate 0 /Contents 96 0 R>> endobj 96 0 obj <> stream 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 85.50 720.95 Td (Issuer) Tj ET Q q 0 0 0 rg BT 115.32 720.95 Td ( Pur) Tj ET Q q 0 0 0 rg BT 136.52 720.95 Td (chases of Equity Securities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.35 Td (The following table contains information about our purchases of our common stock during the fourth ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.55 Td (quarter of 2014.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 625.05 178.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.00 625.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.00 625.05 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.00 625.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 625.05 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 625.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 625.05 91.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 625.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.00 625.05 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 597.05 178.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.00 597.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.00 597.05 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.00 597.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 597.05 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 597.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 597.05 91.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 597.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.00 597.05 102.00 -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 50 625.05 m 228 625.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232 625.05 m 298 625.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 625.05 m 361 625.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 625.05 m 456 625.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 625.05 m 562 625.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 625.05 m 361 625.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232 583.05 m 298 583.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 583.05 m 361 583.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 583.05 m 456 583.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 583.05 m 562 583.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232 570.05 m 298 570.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232 568.05 m 298 568.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 583.05 m 361 583.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 570.05 m 361 570.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 568.05 m 361 568.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 570.05 m 456 570.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 568.05 m 456 568.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 570.05 m 562 570.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 568.05 m 562 568.05 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 629.28 Td (Period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 255.75 661.13 Td (T) Tj ET Q q 0 0 0 rg BT 260.35 661.13 Td (otal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.00 653.13 Td (Number) Tj ET Q q 0 0 0 rg BT 274.30 653.13 Td (of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 253.00 645.13 Td (Shar) Tj ET Q q 0 0 0 rg BT 269.30 645.13 Td (es) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.55 637.13 Td (Pur) Tj ET Q q 0 0 0 rg BT 259.29 637.13 Td (chased) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 259.80 629.13 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 317.05 645.28 Td (A) Tj ET Q q 0 0 0 rg BT 322.23 645.28 Td (verage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 313.30 637.28 Td (PricePaid) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.35 629.28 Td (per) Tj ET Q q 0 0 0 rg BT 325.76 629.28 Td (Shar) Tj ET Q q 0 0 0 rg BT 344.06 629.28 Td (e) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.75 661.13 Td (T) Tj ET Q q 0 0 0 rg BT 386.35 661.13 Td (otalNumber) Tj ET Q q 0 0 0 rg BT 429.54 661.13 Td (of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 379.55 653.13 Td (Shar) Tj ET Q q 0 0 0 rg BT 395.85 653.13 Td (esPur) Tj ET Q q 0 0 0 rg BT 417.26 653.13 Td (chased) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 378.55 645.13 Td (asPartofPublicly) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.10 637.13 Td (AnnouncedPlans) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.45 629.13 Td (or) Tj ET Q q 0 0 0 rg BT 395.86 629.13 Td (Pr) Tj ET Q q 0 0 0 rg BT 406.15 629.13 Td (ograms) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.20 653.28 Td (MaximumNumber) Tj ET Q q 0 0 0 rg BT 539.05 653.28 Td (of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.50 645.28 Td (Shar) Tj ET Q q 0 0 0 rg BT 486.80 645.28 Td (esthatMay) Tj ET Q q 0 0 0 rg BT 528.50 645.28 Td (Y) Tj ET Q q 0 0 0 rg BT 533.39 645.28 Td (etBe) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.40 637.28 Td (Pur) Tj ET Q q 0 0 0 rg BT 487.14 637.28 Td (chasedUnder) Tj ET Q q 0 0 0 rg BT 533.89 637.28 Td (the) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.65 629.28 Td (Plansor) Tj ET Q q 0 0 0 rg BT 506.73 629.28 Td (Pr) Tj ET Q q 0 0 0 rg BT 517.02 629.28 Td (ograms) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 615.62 Td (October1 October31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.65 615.62 Td (56,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.50 615.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 615.62 Td (58.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 615.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 615.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 601.62 Td (November1 November30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.15 601.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.15 601.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 601.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 601.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 587.62 Td (December1 December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.15 587.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.15 587.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 587.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 587.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 573.62 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.65 573.62 Td (56,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.50 573.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 573.62 Td (58.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 573.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 573.62 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 535.95 Td (\(1\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 535.95 Td (Represents shares of common stock withheld by Pinnacle ) Tj ET Q q 0 0 0 rg BT 352.94 535.95 Td (W) Tj ET Q q 0 0 0 rg BT 362.87 535.95 Td (est to satisfy tax withholding obligations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 522.15 Td (upon the vesting of performance shares.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 97 0 obj <>] /Rotate 0 /Contents 98 0 R>> endobj 98 0 obj <> stream 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 201.05 734.75 Td (ITEM 6. SELECTED FINANCIAL) Tj ET Q q 0 0 0 rg BT 377.74 734.75 Td ( DA) Tj ET Q q 0 0 0 rg BT 396.37 734.75 Td (T) Tj ET Q q 0 0 0 rg BT 403.19 734.75 Td (A) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 134.75 714.95 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 197.48 714.95 Td (WEST) Tj ET Q q 0 0 0 rg BT 230.51 714.95 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 268.31 714.95 Td (AL) Tj ET Q q 0 0 0 rg BT 283.65 714.95 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 343.81 714.95 Td (TION CONSOLIDA) Tj ET Q q 0 0 0 rg BT 453.51 714.95 Td (TED) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 678.45 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 678.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 678.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 678.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 678.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 678.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 678.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 678.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 678.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 678.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 678.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 648.45 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 648.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 648.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 648.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 648.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 648.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 648.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 648.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 648.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 648.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 648.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 608.45 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 608.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 608.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 608.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 608.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 608.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 608.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 608.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 608.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 608.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 608.45 65.00 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0.9333333333333333 1 rg /GS0 gs 288.50 488.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 488.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 488.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 488.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 488.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 488.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 488.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 438.45 165.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 438.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 438.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 438.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 438.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 438.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 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426.50 388.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 388.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 388.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 348.45 165.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 348.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 348.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 348.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 348.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 348.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 348.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 348.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 348.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 348.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 348.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 308.45 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 308.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 308.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 308.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 308.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 308.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 308.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 308.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 308.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 308.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 308.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 278.45 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 278.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 278.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 278.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 278.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 278.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 278.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 278.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 278.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 278.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 278.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 238.45 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 238.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 238.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 238.45 4.00 -15.00 re f /GS0 gs 0.8 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gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 648.45 m 491.5 648.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 648.45 m 560.5 648.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 608.45 m 284.5 608.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 608.45 m 353.5 608.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 608.45 m 422.5 608.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 608.45 m 491.5 608.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 608.45 m 560.5 608.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 568.45 m 284.5 568.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 568.45 m 353.5 568.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 568.45 m 422.5 568.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 568.45 m 491.5 568.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 568.45 m 560.5 568.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 568.45 m 284.5 568.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 544.45 m 284.5 544.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 542.45 m 284.5 542.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 568.45 m 353.5 568.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 544.45 m 353.5 544.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 542.45 m 353.5 542.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 568.45 m 422.5 568.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 544.45 m 422.5 544.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 542.45 m 422.5 542.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 568.45 m 491.5 568.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 544.45 m 491.5 544.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 542.45 m 491.5 542.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 568.45 m 560.5 568.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 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294.45000000000005 m 560.5 294.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 292.45000000000005 m 560.5 292.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 223.45000000000005 m 284.5 223.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 223.45000000000005 m 353.5 223.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 223.45000000000005 m 422.5 223.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 223.45000000000005 m 491.5 223.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 223.45000000000005 m 560.5 223.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 193.45000000000005 m 284.5 193.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 193.45000000000005 m 353.5 193.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 193.45000000000005 m 422.5 193.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 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179.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 177.45000000000005 m 422.5 177.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 193.45000000000005 m 491.5 193.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 179.45000000000005 m 491.5 179.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 177.45000000000005 m 491.5 177.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 193.45000000000005 m 560.5 193.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 179.45000000000005 m 560.5 179.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 177.45000000000005 m 560.5 177.45000000000005 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 53.00 694.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 243.50 695.68 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.50 695.68 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.50 695.68 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.70 695.68 Td (2011) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.50 695.68 Td (2010) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 53.00 681.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.85 682.68 Td (\(dollarsinthousands,exceptpershareamounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 668.12 Td (OPERATING RESULTS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.00 666.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 350.00 666.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 419.00 666.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 488.00 666.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 557.00 666.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 653.12 Td (Operating revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 653.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 653.12 Td (3,491,632) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 653.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 653.12 Td (3,454,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 653.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 653.12 Td (3,301,804) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 653.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 653.12 Td (3,241,379) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 653.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 653.12 Td (3,189,199) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 638.12 Td (Income from continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 638.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 638.12 Td (423,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 638.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 638.12 Td (439,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 638.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 638.12 Td (418,993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 638.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 638.12 Td (355,634) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 638.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 638.12 Td (344,851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 623.12 Td (Income \(loss\) from discontinued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 613.12 Td (operations net of income taxes \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.65 613.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 613.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.80 613.17 Td (\(5,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 613.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 613.12 Td (11,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.15 613.12 Td (25,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 598.12 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 598.12 Td (423,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 598.12 Td (439,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 598.12 Td (413,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 598.12 Td (366,940) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 598.12 Td (370,209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 583.12 Td (Less: Net income attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 573.12 Td (noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.15 573.12 Td (26,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 573.12 Td (33,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 573.12 Td (31,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 573.12 Td (27,467) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.15 573.12 Td (20,156) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 558.12 Td (Net income attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 548.12 Td (shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 548.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 548.12 Td (397,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 548.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 548.12 Td (406,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 548.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 548.12 Td (381,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 548.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 548.12 Td (339,473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 548.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 548.12 Td (350,053) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 533.12 Td (COMMON STOCK DATA) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.00 531.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 350.00 531.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 419.00 531.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 488.00 531.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 557.00 531.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 518.12 Td (Book value per share year-end) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 518.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.15 518.12 Td (39.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 518.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 518.12 Td (38.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 518.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 518.12 Td (36.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 518.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 518.12 Td (34.98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 518.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 518.12 Td (33.86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 503.12 Td (Earnings per weighted-average) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 493.12 Td (common share outstanding:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.00 491.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 350.00 491.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 419.00 491.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 488.00 491.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 557.00 491.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 478.12 Td (Continuing operations attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 468.12 Td (common shareholders basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 468.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.15 468.12 Td (3.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 468.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 468.12 Td (3.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 468.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 468.12 Td (3.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 468.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 468.12 Td (3.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 468.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 468.12 Td (3.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 453.12 Td (Net income attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 443.12 Td (shareholders basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 443.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.15 443.12 Td (3.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 443.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 443.12 Td (3.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 443.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 443.12 Td (3.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 443.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 443.12 Td (3.11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 443.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 443.12 Td (3.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 428.12 Td (Continuing operations attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 418.12 Td (common shareholders diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 418.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.15 418.12 Td (3.58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 418.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 418.12 Td (3.66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 418.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 418.12 Td (3.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 418.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 418.12 Td (2.99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 418.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 418.12 Td (3.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 403.12 Td (Net income attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 393.12 Td (shareholders diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 393.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.15 393.12 Td (3.58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 393.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 393.12 Td (3.66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 393.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 393.12 Td (3.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 393.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 393.12 Td (3.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 393.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 393.12 Td (3.27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 378.12 Td (Dividends declared per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 378.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.15 378.12 Td (2.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 378.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 378.12 Td (2.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 378.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 378.12 Td (2.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 378.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 378.12 Td (2.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 378.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 378.12 Td (2.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 363.12 Td (Weighted-average common shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 353.12 Td (outstanding basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.60 353.12 Td (110,626,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.60 353.12 Td (109,984,160) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.60 353.12 Td (109,510,296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.60 353.12 Td (109,052,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.60 353.12 Td (106,573,348) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 338.12 Td (Weighted-average common shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 328.12 Td (outstanding diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.60 328.12 Td (111,178,141) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.60 328.12 Td (110,805,943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.60 328.12 Td (110,527,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.60 328.12 Td (109,864,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.60 328.12 Td (107,137,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 313.12 Td (BALANCE SHEET DATA) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.00 311.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 350.00 311.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 419.00 311.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 488.00 311.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 557.00 311.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 298.12 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 298.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.60 298.12 Td (14,313,532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 298.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.60 298.12 Td (13,508,686) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 298.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.60 298.12 Td (13,379,615) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 298.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.60 298.12 Td (13,111,018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 298.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.60 298.12 Td (12,392,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 283.12 Td (Liabilities and equity:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.00 281.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 350.00 281.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 419.00 281.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 488.00 281.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 557.00 281.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 268.12 Td (Current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 268.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 268.12 Td (1,559,143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 268.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 268.12 Td (1,618,644) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 268.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 268.12 Td (1,083,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 268.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 268.12 Td (1,342,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 268.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 268.12 Td (1,449,704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 253.12 Td (Long-term debt less current) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 243.12 Td (maturities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 243.12 Td (3,031,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 243.12 Td (2,796,465) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 243.12 Td (3,199,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 243.12 Td (3,019,054) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 243.12 Td (3,045,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 228.12 Td (Deferred credits and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 228.12 Td (5,204,072) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 228.12 Td (4,753,117) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 228.12 Td (4,994,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 228.12 Td (4,818,673) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 228.12 Td (4,122,274) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 213.12 Td (Total liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 213.12 Td (9,794,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 213.12 Td (9,168,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 213.12 Td (9,277,326) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 213.12 Td (9,180,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 213.12 Td (8,617,772) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 198.12 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 198.12 Td (4,519,102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 198.12 Td (4,340,460) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 198.12 Td (4,102,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 198.12 Td (3,930,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 198.12 Td (3,775,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 183.12 Td (Total liabilities and equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 183.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.60 183.12 Td (14,313,532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 183.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.60 183.12 Td (13,508,686) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 183.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.60 183.12 Td (13,379,615) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 183.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.60 183.12 Td (13,111,018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 183.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.60 183.12 Td (12,392,998) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 145.35 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 145.35 Td (Amounts primarily related to SunCor discontinued operations \(see Note 1\).) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 99 0 obj <>] /Rotate 0 /Contents 100 0 R>> endobj 100 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (46) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 225.05 734.75 Td (SELECTED FINANCIAL) Tj ET Q q 0 0 0 rg BT 353.82 734.75 Td ( DA) Tj ET Q q 0 0 0 rg BT 372.45 734.75 Td (T) Tj ET Q q 0 0 0 rg BT 379.27 734.75 Td (A) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 146.40 714.95 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 200.08 714.95 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 271.25 714.95 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 337.15 714.95 Td (ANY) Tj ET Q q 0 0 0 rg BT 361.64 714.95 Td ( CONSOLIDA) Tj ET Q q 0 0 0 rg BT 441.94 714.95 Td (TED) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 678.45 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 678.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 678.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 678.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 678.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 678.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 678.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 678.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 678.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 678.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 678.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 648.45 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 648.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 648.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 648.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 648.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 648.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 648.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 648.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 648.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 648.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 648.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 618.45 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 618.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 618.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 618.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 618.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 618.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 618.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 618.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 618.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 618.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 618.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 588.45 165.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 588.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 588.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 588.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 588.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 588.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 588.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 588.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 588.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 588.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 588.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 548.45 165.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 548.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 548.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 548.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 548.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 548.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 548.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 548.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 548.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 548.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 548.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 498.45 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 498.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 498.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 498.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 498.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 498.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 498.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 498.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 498.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 498.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 498.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 468.45 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 468.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 468.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 468.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 468.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 468.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 468.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 468.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 468.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 468.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 468.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 438.45 165.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 438.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 438.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 438.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 438.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 438.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 438.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 438.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 438.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 438.45 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 438.45 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 398.45 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 398.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 398.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 398.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 398.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 398.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 398.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 398.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 398.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 398.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 398.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 368.45 165.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 368.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 368.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 368.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 368.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 368.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 368.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 368.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 368.45 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 368.45 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 368.45 65.00 -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 219.5 691.45 m 284.5 691.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 691.45 m 353.5 691.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 691.45 m 422.5 691.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 691.45 m 491.5 691.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 691.45 m 560.5 691.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 618.45 m 284.5 618.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 618.45 m 353.5 618.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 618.45 m 422.5 618.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 618.45 m 491.5 618.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 618.45 m 560.5 618.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 618.45 m 422.5 618.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 618.45 m 491.5 618.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 618.45 m 560.5 618.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 563.45 m 284.5 563.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 563.45 m 353.5 563.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 563.45 m 422.5 563.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 563.45 m 491.5 563.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 563.45 m 560.5 563.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 563.45 m 422.5 563.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 563.45 m 491.5 563.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 563.45 m 560.5 563.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 523.45 m 284.5 523.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 523.45 m 353.5 523.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 523.45 m 422.5 523.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 523.45 m 491.5 523.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 523.45 m 560.5 523.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 523.45 m 284.5 523.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 499.45 m 284.5 499.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 497.45 m 284.5 497.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 523.45 m 353.5 523.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 499.45 m 353.5 499.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 497.45 m 353.5 497.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 523.45 m 422.5 523.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 499.45 m 422.5 499.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 497.45 m 422.5 497.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 523.45 m 491.5 523.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 499.45 m 491.5 499.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 497.45 m 491.5 497.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 523.45 m 560.5 523.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 499.45 m 560.5 499.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 497.45 m 560.5 497.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 469.45 m 284.5 469.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 467.45 m 284.5 467.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 469.45 m 353.5 469.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 467.45 m 353.5 467.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 469.45 m 422.5 469.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 467.45 m 422.5 467.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 469.45 m 491.5 469.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 467.45 m 491.5 467.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 469.45 m 560.5 469.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 467.45 m 560.5 467.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 413.45 m 284.5 413.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 413.45 m 353.5 413.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 413.45 m 422.5 413.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 413.45 m 491.5 413.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 413.45 m 560.5 413.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 413.45 m 422.5 413.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 413.45 m 491.5 413.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 413.45 m 560.5 413.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 368.45 m 284.5 368.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 368.45 m 353.5 368.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 368.45 m 422.5 368.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 368.45 m 491.5 368.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 368.45 m 560.5 368.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 368.45 m 284.5 368.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 354.45 m 284.5 354.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 352.45 m 284.5 352.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 368.45 m 353.5 368.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 354.45 m 353.5 354.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 352.45 m 353.5 352.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 368.45 m 422.5 368.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 354.45 m 422.5 354.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 352.45 m 422.5 352.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 368.45 m 491.5 368.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 354.45 m 491.5 354.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 352.45 m 491.5 352.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 368.45 m 560.5 368.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 354.45 m 560.5 354.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 352.45 m 560.5 352.45 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 53.00 694.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 243.50 695.68 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.50 695.68 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.50 695.68 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.70 695.68 Td (2011) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.50 695.68 Td (2010) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 53.00 681.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.35 682.68 Td (\(dollarsinthousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 669.02 Td (OPERATING RESULTS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.00 666.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 350.00 666.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 419.00 666.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 488.00 666.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 557.00 666.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 654.02 Td (Electric operating revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 653.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 653.12 Td (3,488,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 653.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 653.12 Td (3,451,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 653.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 653.12 Td (3,293,489) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 653.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 653.12 Td (3,237,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 653.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 653.12 Td (3,180,807) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 639.02 Td (Fuel and purchased power costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 638.12 Td (1,179,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 638.12 Td (1,095,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 638.12 Td (994,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 638.12 Td (1,009,464) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 638.12 Td (1,046,815) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 624.02 Td (Other operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 623.12 Td (1,716,325) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 623.12 Td (1,733,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 623.12 Td (1,693,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 623.12 Td (1,673,394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 623.12 Td (1,584,955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 609.02 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 608.12 Td (592,792) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 608.12 Td (621,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 608.12 Td (605,529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 608.12 Td (554,383) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 608.12 Td (549,037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 594.02 Td (Other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.15 593.12 Td (36,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 593.12 Td (20,797) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 593.12 Td (16,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 593.12 Td (24,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.15 593.12 Td (20,138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 579.02 Td (Interest expense net of allowance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 569.02 Td (for borrowed funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 568.12 Td (181,830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 568.12 Td (183,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 568.12 Td (194,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 568.12 Td (215,584) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 568.12 Td (213,349) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 554.02 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 553.12 Td (447,320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 553.12 Td (458,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 553.12 Td (427,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 553.12 Td (363,773) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 553.12 Td (355,826) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 539.02 Td (Less: Net income attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 529.02 Td (noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.15 528.12 Td (26,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 528.12 Td (33,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 528.12 Td (31,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 528.12 Td (27,524) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.15 528.12 Td (20,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 514.02 Td (Net income attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 504.02 Td (shareholder) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 503.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 503.12 Td (421,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 503.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 503.12 Td (424,969) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 503.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 503.12 Td (395,497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 503.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 503.12 Td (336,249) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 503.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 503.12 Td (335,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 489.02 Td (BALANCE SHEET DATA) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.00 486.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 350.00 486.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 419.00 486.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 488.00 486.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 557.00 486.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 474.02 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 473.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.60 473.12 Td (14,215,004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 473.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.60 473.12 Td (13,381,377) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 473.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.60 473.12 Td (13,242,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 473.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.60 473.12 Td (13,032,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 473.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.60 473.12 Td (12,271,877) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 459.02 Td (Liabilities and equity:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.00 456.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 350.00 456.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 419.00 456.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 488.00 456.21 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 557.00 456.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 444.02 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 443.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 443.12 Td (4,629,852) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 443.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 443.12 Td (4,454,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 443.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 443.12 Td (4,222,483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 443.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 443.12 Td (4,051,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 443.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 443.12 Td (3,916,037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 429.02 Td (Long-term debt less current) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 419.02 Td (maturities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 418.12 Td (2,906,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 418.12 Td (2,671,465) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 418.12 Td (3,074,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 418.12 Td (2,894,054) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 418.12 Td (3,045,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 404.02 Td (Total capitalization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 403.12 Td (7,536,067) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 403.12 Td (7,126,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 403.12 Td (7,296,571) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 403.12 Td (6,945,460) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 403.12 Td (6,961,831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 389.02 Td (Current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 388.12 Td (1,532,464) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 388.12 Td (1,580,847) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 388.12 Td (1,043,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 388.12 Td (1,322,714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 388.12 Td (1,234,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 374.02 Td (Deferred credits and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 373.12 Td (5,146,473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 373.12 Td (4,674,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 373.12 Td (4,902,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 373.12 Td (4,764,063) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 373.12 Td (4,075,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 359.02 Td (Total liabilities and equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 358.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.60 358.12 Td (14,215,004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 358.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.60 358.12 Td (13,381,377) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 358.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.60 358.12 Td (13,242,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 358.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.60 358.12 Td (13,032,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 358.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.60 358.12 Td (12,271,877) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.15 Td ( ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 101 0 obj <>] /Rotate 0 /Contents 102 0 R>> endobj 102 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (47) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 153.60 734.75 Td (ITEM 7. MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 374.05 734.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 401.21 734.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 432.74 734.75 Td (YSIS ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 140.25 720.95 Td (OF) Tj ET Q q 0 0 0 rg BT 155.79 720.95 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 223.21 720.95 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 296.06 720.95 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 361.14 720.95 Td (TS OF) Tj ET Q q 0 0 0 rg BT 393.62 720.95 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 435.89 720.95 Td (TIONS) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 259.95 693.35 Td (INTRODUCTION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 679.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 95.50 665.75 Td (The following discussion should be read in conjunction with Pinnacle ) Tj ET Q q 0 0 0 rg BT 419.16 665.75 Td (W) Tj ET Q q 0 0 0 rg BT 429.10 665.75 Td (est) Tj ET Q q 0 0 0 rg BT 445.07 665.75 Td (s Consolidated Financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td (Statements and ) Tj ET Q q 0 0 0 rg BT 121.69 651.95 Td (APS) Tj ET Q q 0 0 0 rg BT 145.98 651.95 Td (s Consolidated Financial Statements and the related Notes that appear in Item 8 of this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.15 Td (report. For information on factors that may cause our actual future results to dif) Tj ET Q q 0 0 0 rg BT 417.51 638.15 Td (fer from those we currently ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.35 Td (seek or anticipate, see Forward-Looking Statements at the front of this report and Risk Factors in Item 1A.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 273.70 596.75 Td (OVER) Tj ET Q q 0 0 0 rg BT 306.52 596.75 Td (VIEW) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 582.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 569.15 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 569.15 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 569.15 Td (est owns all of the outstanding common stock of ) Tj ET Q q 0 0 0 rg BT 362.89 569.15 Td (APS. ) Tj ET Q q 0 0 0 rg BT 391.98 569.15 Td (APS is a vertically-integrated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (electric utility that provides either retail or wholesale electric service to most of the state of ) Tj ET Q q 0 0 0 rg BT 470.39 555.35 Td (Arizona, with the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.55 Td (major exceptions of about one-half of the Phoenix metropolitan area, the ) Tj ET Q q 0 0 0 rg BT 386.52 541.55 Td (T) Tj ET Q q 0 0 0 rg BT 393.14 541.55 Td (ucson metropolitan area and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.75 Td (Mohave County in northwestern ) Tj ET Q q 0 0 0 rg BT 200.90 527.75 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 245.93 527.75 Td (APS accounts for essentially all of our revenues and earnings, and is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.95 Td (expected to continue to do so.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 500.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 486.35 Td (Ar) Tj ET Q q 0 0 0 rg BT 62.70 486.35 Td (eas of Business Focus) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.55 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 458.75 Td (Operational Performance, Reliability and Recent Developments.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 444.95 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 431.15 Td (Nuclear) Tj ET Q q 0 0 0 rg BT 123.40 431.15 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 126.28 431.15 Td ( ) Tj ET Q q 0 0 0 rg BT 131.40 431.15 Td (APS operates and is a joint owner of Palo ) Tj ET Q q 0 0 0 rg BT 325.70 431.15 Td (V) Tj ET Q q 0 0 0 rg BT 332.73 431.15 Td (erde. ) Tj ET Q q 0 0 0 rg BT 360.94 431.15 Td (The March201) Tj ET Q q 0 0 0 rg BT 431.41 431.15 Td (1 earthquake and tsunamis ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.35 Td (in Japan and the resulting accident at Japan) Tj ET Q q 0 0 0 rg BT 251.64 417.35 Td (s Fukushima Daiichi nuclear power station had a significant impact ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.55 Td (on nuclear power operators worldwide. In the aftermath of the accident, the NRC conducted an independent ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.75 Td (assessment to consider actions to address lessons learned from the Fukushima events. ) Tj ET Q q 0 0 0 rg BT 448.53 389.75 Td (The independent ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.95 Td (assessment, named the Near ) Tj ET Q q 0 0 0 rg BT 181.82 375.95 Td (T) Tj ET Q q 0 0 0 rg BT 188.04 375.95 Td (erm ) Tj ET Q q 0 0 0 rg BT 208.59 375.95 Td (T) Tj ET Q q 0 0 0 rg BT 214.81 375.95 Td (ask Force, recommended a number of proposed enhancements to U.S. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.15 Td (commercial nuclear power plant equipment and emer) Tj ET Q q 0 0 0 rg BT 294.53 362.15 Td (gency plans. ) Tj ET Q q 0 0 0 rg BT 354.68 362.15 Td (The NRC has directed nuclear power plants ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.35 Td (to begin implementing some of the Near ) Tj ET Q q 0 0 0 rg BT 238.04 348.35 Td (T) Tj ET Q q 0 0 0 rg BT 244.26 348.35 Td (erm ) Tj ET Q q 0 0 0 rg BT 264.81 348.35 Td (T) Tj ET Q q 0 0 0 rg BT 271.03 348.35 Td (ask Force) Tj ET Q q 0 0 0 rg BT 318.62 348.35 Td (s recommendations. ) Tj ET Q q 0 0 0 rg BT 416.14 348.35 Td (T) Tj ET Q q 0 0 0 rg BT 422.36 348.35 Td (o implement these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.55 Td (recommendations, Palo ) Tj ET Q q 0 0 0 rg BT 160.12 334.55 Td (V) Tj ET Q q 0 0 0 rg BT 167.15 334.55 Td (erde expects to spend approximately $40 million for capital enhancements to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.75 Td (plant over the next two years in addition to the approximate $80 million that has already been spent on capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.95 Td (enhancements as of December 31, 2014 \(APS) Tj ET Q q 0 0 0 rg BT 263.79 306.95 Td (s share is 29.1%\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 293.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 279.35 Td (Coal and Related Envir) Tj ET Q q 0 0 0 rg BT 201.26 279.35 Td (onmental Matters and ) Tj ET Q q 0 0 0 rg BT 313.17 279.35 Td (T) Tj ET Q q 0 0 0 rg BT 319.99 279.35 Td (ransactions.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 379.09 279.35 Td ( ) Tj ET Q q 0 0 0 rg BT 384.20 279.35 Td (APS is a joint owner of three coal-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.55 Td (fired power plants and acts as operating agent for two of the plants. ) Tj ET Q q 0 0 0 rg BT 364.07 265.55 Td (APS is focused on the impacts on its coal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.75 Td (fleet that may result from increased regulation and potential legislation concerning GHG emissions. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.95 Td (June2, 2014, EP) Tj ET Q q 0 0 0 rg BT 126.07 237.95 Td (A) Tj ET Q q 0 0 0 rg BT 133.74 237.95 Td ( proposed a ruleto limit carbon dioxide emissions from existing power plants. EP) Tj ET Q q 0 0 0 rg BT 511.18 237.95 Td (A) Tj ET Q q 0 0 0 rg BT 518.85 237.95 Td ( expects ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.15 Td (to finalize the proposal in summer2015. EP) Tj ET Q q 0 0 0 rg BT 253.81 224.15 Td (A) Tj ET Q q 0 0 0 rg BT 260.85 224.15 Td () Tj ET Q q 0 0 0 rg BT 264.04 224.15 Td (s proposal for ) Tj ET Q q 0 0 0 rg BT 329.52 224.15 Td (Arizona would result in a shift in in-state ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.35 Td (generation from coal to natural gas and renewable generation. Such a substantial change in ) Tj ET Q q 0 0 0 rg BT 472.30 210.35 Td (APS) Tj ET Q q 0 0 0 rg BT 496.60 210.35 Td (s generation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.55 Td (portfolio could require additional capital investments and increased operating costs, and thus have a significant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.75 Td (financial impact on the Company) Tj ET Q q 0 0 0 rg BT 202.05 182.75 Td (. ) Tj ET Q q 0 0 0 rg BT 210.04 182.75 Td (APS continually analyzes its long-range capital management plans to assess ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.95 Td (the potential ef) Tj ET Q q 0 0 0 rg BT 118.27 168.95 Td (fects of these changes, understanding that any resulting regulation and legislation could impact ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.15 Td (the economic viability of certain plants, as well as the willingness or ability of power plant participants to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.35 Td (continue participation in such plants.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 113.75 Td (Cholla) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 86.15 Td (On September 1) Tj ET Q q 0 0 0 rg BT 159.81 86.15 Td (1, 2014, ) Tj ET Q q 0 0 0 rg BT 199.42 86.15 Td (APS announced that it will close its 260 MW) Tj ET Q q 0 0 0 rg BT 407.48 86.15 Td ( Unit 2 at Cholla by ) Tj ET Q q 0 0 0 rg BT 500.76 86.15 Td (April 2016 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.35 Td (and cease burning coal at the other ) Tj ET Q q 0 0 0 rg BT 211.40 72.35 Td (APS-owned units \(Units 1 and 3\) at the plant by the mid-2020s if EP) Tj ET Q q 0 0 0 rg BT 526.89 72.35 Td (A) Tj ET Q q 0 0 0 rg BT 534.56 72.35 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.55 Td (approves a compromise proposal of) Tj ET Q q 0 0 0 rg BT 213.45 58.55 Td (fered by ) Tj ET Q q 0 0 0 rg BT 253.68 58.55 Td (APS to meet required environmental and emissions standards and ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 103 0 obj <>] /Rotate 0 /Contents 104 0 R>> endobj 104 0 obj <> stream 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 49.50 734.55 Td (rules. ) Tj ET Q q 0 0 0 rg BT 76.97 734.55 Td (APS will also ask the ) Tj ET Q q 0 0 0 rg BT 177.60 734.55 Td (ACC to approve the plan contemplated by the proposal. \(See Note 3 for details ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (related to the resulting regulatory asset and Note 10 for details of the proposal.\) ) Tj ET Q q 0 0 0 rg BT 419.96 720.75 Td (APS believes that the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (environmental benefits of this proposal are greater in the long term than the benefits that would have resulted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (from adding the emissions control equipment.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 665.55 Td (Four) Tj ET Q q 0 0 0 rg BT 109.57 665.55 Td ( Corners) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 637.95 Td (Asset Purchase ) Tj ET Q q 0 0 0 rg BT 160.47 637.95 Td (Agreement and Coal Supply Matters.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.87 637.95 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 340.87 637.95 Td (On December30, 2013, ) Tj ET Q q 0 0 0 rg BT 453.29 637.95 Td (APS purchased SCE) Tj ET Q q 0 0 0 rg BT 551.04 637.95 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (48% interest in each of Units 4 and 5 of Four Corners. ) Tj ET Q q 0 0 0 rg BT 304.80 624.15 Td (The final purchase price for the interest was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (approximately $182 million, subject to certain minor post-closing adjustments. In connection with ) Tj ET Q q 0 0 0 rg BT 506.56 610.35 Td (APS) Tj ET Q q 0 0 0 rg BT 530.85 610.35 Td (s most ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (recent retail rate case with the ) Tj ET Q q 0 0 0 rg BT 189.35 596.55 Td (ACC, the ) Tj ET Q q 0 0 0 rg BT 235.03 596.55 Td (ACC reserved the right to review the prudence of the Four Corners ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (transaction for cost recovery purposes upon the closing of the transaction. On December23, 2014, the ) Tj ET Q q 0 0 0 rg BT 524.07 582.75 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (approved rate adjustments related to ) Tj ET Q q 0 0 0 rg BT 218.43 568.95 Td (APS) Tj ET Q q 0 0 0 rg BT 242.73 568.95 Td (s acquisition of SCE) Tj ET Q q 0 0 0 rg BT 340.16 568.95 Td (s interest in Four Corners resulting in a revenue ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (increase of $57.1 million on an annual basis.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 527.55 Td (Concurrently with the closing of the SCE transaction, BHP) Tj ET Q q 0 0 0 rg BT 356.89 527.55 Td ( Billiton, the parent company of BNCC, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (coal supplier and operator of the mine that serves Four Corners, transferred its ownership of BNCC to NTEC, a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (company formed by the Navajo Nation to own the mine and develop other ener) Tj ET Q q 0 0 0 rg BT 414.31 499.95 Td (gy projects. BHP) Tj ET Q q 0 0 0 rg BT 495.66 499.95 Td ( Billiton will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (be retained by NTEC under contract as the mine manager and operator until July 2016. ) Tj ET Q q 0 0 0 rg BT 454.76 486.15 Td (Also occurring ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (concurrently with the closing, the Four Corners) Tj ET Q q 0 0 0 rg BT 270.62 472.35 Td ( co-owners executed the 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 470.23 472.35 Td (Agreement for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (supply of coal to Four Corners from July 2016, when the current coal supply agreement expires, through 2031. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (El Paso, a 7% owner in Units 4 and 5 of Four Corners, did not sign the 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 462.84 444.75 Td (Agreement. Under ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.95 Td (the 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 151.73 430.95 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 207.93 430.95 Td (APS has agreed to assume the 7% shortfall obligation. On February 17, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.15 Td (2015, ) Tj ET Q q 0 0 0 rg BT 77.62 417.15 Td (APS and El Paso entered into an asset purchase agreement providing for the purchase by ) Tj ET Q q 0 0 0 rg BT 488.00 417.15 Td (APS, or an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (af) Tj ET Q q 0 0 0 rg BT 58.23 403.35 Td (filiate of ) Tj ET Q q 0 0 0 rg BT 99.74 403.35 Td (APS, of El Paso) Tj ET Q q 0 0 0 rg BT 177.06 403.35 Td (s 7% interest in each of Units 4 and 5 of Four Corners. ) Tj ET Q q 0 0 0 rg BT 433.96 403.35 Td (The cash purchase price, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (which will be subject to certain adjustments at closing, is immaterial in amount, and the purchaser will assume ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.75 Td (El Paso's reclamation and decommissioning obligations associated with the 7% interest. Completion of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (purchase is subject to the receipt of certain regulatory approvals and is expected to occur in July 2016.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 334.35 Td (When ) Tj ET Q q 0 0 0 rg BT 115.20 334.35 Td (APS, or an af) Tj ET Q q 0 0 0 rg BT 176.96 334.35 Td (filiate of ) Tj ET Q q 0 0 0 rg BT 218.47 334.35 Td (APS, ultimately acquires El Paso's interest in Four Corners, NTEC will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.55 Td (have an option to purchase the interest within a certain timeframe pursuant to an option granted by ) Tj ET Q q 0 0 0 rg BT 505.22 320.55 Td (APS to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (NTEC. ) Tj ET Q q 0 0 0 rg BT 87.94 306.75 Td (The 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 194.00 306.75 Td (Agreement contains alternate pricing terms for the 7% shortfall obligations in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.95 Td (the event NTEC does not exercise its option. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.15 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 265.35 Td (Pollution Control Investments and Shutdown of Units 1, 2 and 3.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 393.54 265.35 Td ( EP) Tj ET Q q 0 0 0 rg BT 414.53 265.35 Td (A, in its final regional haze ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (rulefor Four Corners, required the Four Corners) Tj ET Q q 0 0 0 rg BT 275.40 251.55 Td ( owners to elect one of two emissions alternatives to apply to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (the plant. On December30, 2013, ) Tj ET Q q 0 0 0 rg BT 210.46 237.75 Td (APS, on behalf of the co-owners, notified EP) Tj ET Q q 0 0 0 rg BT 417.33 237.75 Td (A) Tj ET Q q 0 0 0 rg BT 425.00 237.75 Td ( that they chose the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.95 Td (alternative BAR) Tj ET Q q 0 0 0 rg BT 123.86 223.95 Td (T) Tj ET Q q 0 0 0 rg BT 130.68 223.95 Td ( compliance strategy requiring the permanent closure of Units 1, 2 and 3 by January1, 2014 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.15 Td (and installation and operation of SCR controls on Units 4 and 5 by July31, 2018. On December30, 2013, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.35 Td (APS retired Units 1, 2 and 3.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.55 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 168.75 Td (Lease Extension.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 166.64 168.75 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.39 168.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 174.89 168.75 Td (APS, on behalf of the Four Corners participants, negotiated amendments to an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 154.95 Td (existing facility lease with the Navajo Nation, which extends the Four Corners leasehold interest from 2016 to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.15 Td (2041. ) Tj ET Q q 0 0 0 rg BT 80.92 141.15 Td (The Navajo Nation approved these amendments in March201) Tj ET Q q 0 0 0 rg BT 366.63 141.15 Td (1. ) Tj ET Q q 0 0 0 rg BT 380.80 141.15 Td (The ef) Tj ET Q q 0 0 0 rg BT 410.28 141.15 Td (fectiveness of the amendments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.35 Td (also requires the approval of the DOI, as does a related federal rights-of-way grant which the Four Corners ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.55 Td (participants are pursuing. ) Tj ET Q q 0 0 0 rg BT 171.18 113.55 Td (A) Tj ET Q q 0 0 0 rg BT 178.85 113.55 Td ( federal environmental review is underway as part of the DOI review process. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.75 Td (March2014, ) Tj ET Q q 0 0 0 rg BT 110.50 99.75 Td (APS received a draft of the environmental impact statement in connection with the DOI review ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.95 Td (process. ) Tj ET Q q 0 0 0 rg BT 91.98 85.95 Td (As a proponent of Four Corners and the Navajo Mine Ener) Tj ET Q q 0 0 0 rg BT 362.60 85.95 Td (gy Project, ) Tj ET Q q 0 0 0 rg BT 414.67 85.95 Td (APS, along with other members ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.15 Td (of the public, submitted comments on the draft impact statement. ) Tj ET Q q 0 0 0 rg BT 353.87 72.15 Td (APS cannot predict whether these federal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.35 Td (approvals will be granted and, if so, on a timely basis, or whether any conditions that may be attached to them ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 105 0 obj <>] /Rotate 0 /Contents 106 0 R>> endobj 106 0 obj <> stream 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 49.50 734.55 Td (will be acceptable to the Four Corners owners. On December 19, 2014, ) Tj ET Q q 0 0 0 rg BT 382.28 734.55 Td (APS obtained a PSD permit from EP) Tj ET Q q 0 0 0 rg BT 551.17 734.55 Td (A) Tj ET Q q 0 0 0 rg BT 558.84 734.55 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (allowing ) Tj ET Q q 0 0 0 rg BT 91.99 720.75 Td (APS to install SCR control technology at Four Corners. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 706.95 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 693.15 Td (T) Tj ET Q q 0 0 0 rg BT 92.32 693.15 Td (ransmission and Delivery) Tj ET Q q 0 0 0 rg BT 216.28 693.15 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 219.15 693.15 Td ( ) Tj ET Q q 0 0 0 rg BT 224.27 693.15 Td (APS is working closely with regulators to identify and plan for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (transmission needs that continue to support system reliability) Tj ET Q q 0 0 0 rg BT 330.15 679.35 Td (, access to markets and renewable ener) Tj ET Q q 0 0 0 rg BT 508.43 679.35 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (development. ) Tj ET Q q 0 0 0 rg BT 117.32 665.55 Td (The capital expenditures table presented in the Liquidity and Capital Resources section below ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (includes new ) Tj ET Q q 0 0 0 rg BT 112.10 651.75 Td (APS transmission projects through 2017, along with other transmission costs for upgrades and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (replacements. ) Tj ET Q q 0 0 0 rg BT 118.15 637.95 Td (APS is also working to establish and expand smart grid technologies throughout its service ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (territory to provide long-term benefits both to ) Tj ET Q q 0 0 0 rg BT 261.89 624.15 Td (APS and its customers. ) Tj ET Q q 0 0 0 rg BT 373.70 624.15 Td (APS is strategically deploying a variety ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (of technologies that are intended to allow customers to better monitor their ener) Tj ET Q q 0 0 0 rg BT 415.91 610.35 Td (gy use and needs, minimize ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (system outage durations, as well as the number of customers that experience outages, and facilitate greater cost ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (savings to ) Tj ET Q q 0 0 0 rg BT 98.06 582.75 Td (APS through improved reliability and the automation of certain distribution functions, including ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (remote meter reading and remote connects and disconnects.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.15 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 541.35 Td (Renewable Energy) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 174.62 541.35 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.50 541.35 Td ( ) Tj ET Q q 0 0 0 rg BT 183.04 541.35 Td (The ) Tj ET Q q 0 0 0 rg BT 203.16 541.35 Td (ACC approved the RES in 2006. ) Tj ET Q q 0 0 0 rg BT 359.47 541.35 Td (The renewable ener) Tj ET Q q 0 0 0 rg BT 449.93 541.35 Td (gy requirement is 5% of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (retail electric sales in 2015 and increases annually until it reaches 15% in 2025. In the 2009 Settlement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 105.70 513.75 Td (APS agreed to exceed the RES standards, committing to use ) Tj ET Q q 0 0 0 rg BT 385.18 513.75 Td (APS) Tj ET Q q 0 0 0 rg BT 409.47 513.75 Td (s best ef) Tj ET Q q 0 0 0 rg BT 446.95 513.75 Td (forts to obtain 1,700 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (GWh of new renewable resources to be in service by year) Tj ET Q q 0 0 0 rg BT 314.94 499.95 Td (-end 2015, in addition to its 2008 renewable resource ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (commitments. ) Tj ET Q q 0 0 0 rg BT 120.52 486.15 Td (T) Tj ET Q q 0 0 0 rg BT 126.75 486.15 Td (aken together) Tj ET Q q 0 0 0 rg BT 188.55 486.15 Td (, ) Tj ET Q q 0 0 0 rg BT 193.66 486.15 Td (APS) Tj ET Q q 0 0 0 rg BT 217.96 486.15 Td (s commitment is currently estimated to be approximately 12% of ) Tj ET Q q 0 0 0 rg BT 518.81 486.15 Td (APS) Tj ET Q q 0 0 0 rg BT 543.10 486.15 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (estimated retail ener) Tj ET Q q 0 0 0 rg BT 142.53 472.35 Td (gy sales by year) Tj ET Q q 0 0 0 rg BT 216.06 472.35 Td (-end 2015, which is more than double the existing RES tar) Tj ET Q q 0 0 0 rg BT 485.11 472.35 Td (get of 5% for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (that year) Tj ET Q q 0 0 0 rg BT 88.77 458.55 Td (. ) Tj ET Q q 0 0 0 rg BT 96.77 458.55 Td (A) Tj ET Q q 0 0 0 rg BT 104.44 458.55 Td ( component of the RES tar) Tj ET Q q 0 0 0 rg BT 226.55 458.55 Td (gets development of distributed ener) Tj ET Q q 0 0 0 rg BT 394.33 458.55 Td (gy systems \(generally speaking, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (small-scale renewable technologies that are located on customers) Tj ET Q q 0 0 0 rg BT 352.32 444.75 Td ( properties\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 417.15 Td (On July12, 2013, ) Tj ET Q q 0 0 0 rg BT 169.84 417.15 Td (APS filed its annual RES implementation plan, covering the 2014-2018 timeframe ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (and requesting a 2014 RES budget of approximately $143 million. In a final order dated January7, 2014, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (ACC approved the requested budget. ) Tj ET Q q 0 0 0 rg BT 224.84 389.55 Td (Also in 2013, the ) Tj ET Q q 0 0 0 rg BT 306.30 389.55 Td (ACC conducted a hearing to consider ) Tj ET Q q 0 0 0 rg BT 481.31 389.55 Td (APS) Tj ET Q q 0 0 0 rg BT 505.61 389.55 Td (s proposal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.75 Td (to establish compliance with distributed ener) Tj ET Q q 0 0 0 rg BT 255.29 375.75 Td (gy requirements by tracking and recording distributed ener) Tj ET Q q 0 0 0 rg BT 525.57 375.75 Td (gy) Tj ET Q q 0 0 0 rg BT 536.32 375.75 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (rather than acquiring and retiring renewable ener) Tj ET Q q 0 0 0 rg BT 274.08 361.95 Td (gy credits. On February6, 2014, the ) Tj ET Q q 0 0 0 rg BT 445.59 361.95 Td (ACC established a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (proceeding to modify the renewable ener) Tj ET Q q 0 0 0 rg BT 238.01 348.15 Td (gy rulesto establish a process for compliance with the renewable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 334.35 Td (gy requirement that is not based solely on the use of renewable ener) Tj ET Q q 0 0 0 rg BT 381.19 334.35 Td (gy credits. On September 9, 2014, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.55 Td (ACC authorized a rulemaking process to modify the RES rules. ) Tj ET Q q 0 0 0 rg BT 344.73 320.55 Td (The proposed changes would permit the ) Tj ET Q q 0 0 0 rg BT 531.24 320.55 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (to find that utilities have complied with the distributed ener) Tj ET Q q 0 0 0 rg BT 322.36 306.75 Td (gy requirement in light of all available information. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.95 Td (The ) Tj ET Q q 0 0 0 rg BT 69.62 292.95 Td (ACC adopted these changes on December 18, 2014. ) Tj ET Q q 0 0 0 rg BT 315.00 292.95 Td (The revised rules are expected to become ef) Tj ET Q q 0 0 0 rg BT 516.91 292.95 Td (fective in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.15 Td (the second quarter of 2015.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 251.55 Td (In accordance with the ) Tj ET Q q 0 0 0 rg BT 192.15 251.55 Td (ACC) Tj ET Q q 0 0 0 rg BT 218.99 251.55 Td (s decision on the 2014 RES plan, on ) Tj ET Q q 0 0 0 rg BT 387.97 251.55 Td (April15, 2014, ) Tj ET Q q 0 0 0 rg BT 460.49 251.55 Td (APS filed an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (application with the ) Tj ET Q q 0 0 0 rg BT 143.08 237.75 Td (ACC requesting permission to build an additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 374.66 237.75 Td (20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 386.16 237.75 Td ( MW) Tj ET Q q 0 0 0 rg BT 409.91 237.75 Td ( of ) Tj ET Q q 0 0 0 rg BT 424.60 237.75 Td (APS-owned utility scale solar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.95 Td (under the ) Tj ET Q q 0 0 0 rg BT 94.85 223.95 Td (AZ Sun Program. In a subsequent filing, ) Tj ET Q q 0 0 0 rg BT 286.50 223.95 Td (APS also of) Tj ET Q q 0 0 0 rg BT 341.25 223.95 Td (fered an alternative proposal to replace the 20 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.15 Td (MW) Tj ET Q q 0 0 0 rg BT 70.37 210.15 Td ( of utility scale solar with 10 MW) Tj ET Q q 0 0 0 rg BT 225.71 210.15 Td ( \(approximately 1,500 customers\) of ) Tj ET Q q 0 0 0 rg BT 395.62 210.15 Td (APS-owned residential solar that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.35 Td (will not be under the ) Tj ET Q q 0 0 0 rg BT 146.92 196.35 Td (AZ Sun Program. On December 19, 2014, the ) Tj ET Q q 0 0 0 rg BT 363.47 196.35 Td (ACC voted that it had no objection to ) Tj ET Q q 0 0 0 rg BT 538.51 196.35 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.55 Td (implementing its residential rooftop solar program. ) Tj ET Q q 0 0 0 rg BT 290.11 182.55 Td (The first stage of the residential rooftop solar program is to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.75 Td (be 8 MW) Tj ET Q q 0 0 0 rg BT 92.73 168.75 Td ( followed by a 2 MW) Tj ET Q q 0 0 0 rg BT 191.21 168.75 Td ( second stage that will only be deployed if coupled with distributed storage. ) Tj ET Q q 0 0 0 rg BT 544.56 168.75 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 154.95 Td (program will tar) Tj ET Q q 0 0 0 rg BT 124.02 154.95 Td (get specific distribution feeders in an ef) Tj ET Q q 0 0 0 rg BT 305.84 154.95 Td (fort to maximize potential system benefits, as well as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.15 Td (make systems available to limited-income customers who cannot easily install solar through transactions with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.35 Td (third parties. ) Tj ET Q q 0 0 0 rg BT 113.17 127.35 Td (The ) Tj ET Q q 0 0 0 rg BT 133.29 127.35 Td (ACC expressly reserved that any determination of prudency of the residential rooftop solar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.55 Td (program for rate making purposes shall not be made until the project is fully in service and ) Tj ET Q q 0 0 0 rg BT 469.47 113.55 Td (APS requests cost ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.75 Td (recovery in a future rate case.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 107 0 obj <>] /Rotate 0 /Contents 108 0 R>> endobj 108 0 obj <> stream 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 85.50 734.55 Td (On July1, 2014, ) Tj ET Q q 0 0 0 rg BT 164.09 734.55 Td (APS filed its 2015 RES implementation plan and proposed a RES budget of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (approximately $154 million. On December 31, 2014, the ) Tj ET Q q 0 0 0 rg BT 315.87 720.75 Td (ACC issued a decision approving the 2015 RES ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (implementation plan with minor modifications, including reducing the budget to approximately $152 million.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 679.35 Td (Demand Side Management.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 220.31 679.35 Td ( In December2009, ) Tj ET Q q 0 0 0 rg BT 313.88 679.35 Td (Arizona regulators placed an increased focus on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 665.55 Td (gy ef) Tj ET Q q 0 0 0 rg BT 92.18 665.55 Td (ficiency and other demand side management programs to encourage customers to conserve ener) Tj ET Q q 0 0 0 rg BT 533.29 665.55 Td (gy) Tj ET Q q 0 0 0 rg BT 544.04 665.55 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (while incentivizing utilities to aid in these ef) Tj ET Q q 0 0 0 rg BT 254.01 651.75 Td (forts that ultimately reduce the demand for ener) Tj ET Q q 0 0 0 rg BT 473.18 651.75 Td (gy) Tj ET Q q 0 0 0 rg BT 483.94 651.75 Td (. ) Tj ET Q q 0 0 0 rg BT 492.35 651.75 Td (The ) Tj ET Q q 0 0 0 rg BT 512.47 651.75 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (initiated an Ener) Tj ET Q q 0 0 0 rg BT 125.29 637.95 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 150.31 637.95 Td (ficiency rulemaking, with a proposed EES of 22% cumulative annual ener) Tj ET Q q 0 0 0 rg BT 491.49 637.95 Td (gy savings by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (2020. ) Tj ET Q q 0 0 0 rg BT 80.92 624.15 Td (The 22% figure represents the cumulative reduction in future ener) Tj ET Q q 0 0 0 rg BT 384.39 624.15 Td (gy usage through 2020 attributable to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 610.35 Td (gy ef) Tj ET Q q 0 0 0 rg BT 92.18 610.35 Td (ficiency initiatives. ) Tj ET Q q 0 0 0 rg BT 185.87 610.35 Td (This standard became ef) Tj ET Q q 0 0 0 rg BT 297.74 610.35 Td (fective on January1, 201) Tj ET Q q 0 0 0 rg BT 413.23 610.35 Td (1.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 582.75 Td (On June1, 2012, ) Tj ET Q q 0 0 0 rg BT 166.00 582.75 Td (APS filed its 2013 DSM Plan. In 2013, the standards required ) Tj ET Q q 0 0 0 rg BT 455.41 582.75 Td (APS to achieve ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (cumulative ener) Tj ET Q q 0 0 0 rg BT 123.05 568.95 Td (gy savings equal to 5% of its 2012 retail ener) Tj ET Q q 0 0 0 rg BT 330.76 568.95 Td (gy sales. Later in 2012, ) Tj ET Q q 0 0 0 rg BT 443.18 568.95 Td (APS filed a supplement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td (to its plan that included a proposed budget for 2013 of $87.6 million.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 527.55 Td (On March1) Tj ET Q q 0 0 0 rg BT 140.64 527.55 Td (1, 2014, the ) Tj ET Q q 0 0 0 rg BT 197.18 527.55 Td (ACC issued an order approving ) Tj ET Q q 0 0 0 rg BT 345.07 527.55 Td (APS) Tj ET Q q 0 0 0 rg BT 369.36 527.55 Td (s 2013 DSM Plan. ) Tj ET Q q 0 0 0 rg BT 459.25 527.55 Td (The ) Tj ET Q q 0 0 0 rg BT 479.37 527.55 Td (ACC approved a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (budget of $68.9 million for each of 2013 and 2014. ) Tj ET Q q 0 0 0 rg BT 290.43 513.75 Td (The ) Tj ET Q q 0 0 0 rg BT 310.55 513.75 Td (ACC also approved a Resource Savings Initiative that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (allows ) Tj ET Q q 0 0 0 rg BT 81.77 499.95 Td (APS to count towards compliance with the ) Tj ET Q q 0 0 0 rg BT 280.76 499.95 Td (ACC Electric Ener) Tj ET Q q 0 0 0 rg BT 367.41 499.95 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 392.43 499.95 Td (ficiency Standards, savings for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (improvements to ) Tj ET Q q 0 0 0 rg BT 129.36 486.15 Td (APS) Tj ET Q q 0 0 0 rg BT 153.65 486.15 Td (s transmission and delivery system, generation and facilities that have been approved ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (through a DSM Plan. Consistent with the ) Tj ET Q q 0 0 0 rg BT 244.05 472.35 Td (ACC) Tj ET Q q 0 0 0 rg BT 270.89 472.35 Td (s March1) Tj ET Q q 0 0 0 rg BT 316.45 472.35 Td (1, 2014 order) Tj ET Q q 0 0 0 rg BT 377.63 472.35 Td (, ) Tj ET Q q 0 0 0 rg BT 382.75 472.35 Td (APS intends to continue its approved ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (DSM programs in 2015.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 430.95 Td (On June27, 2013, the ) Tj ET Q q 0 0 0 rg BT 188.68 430.95 Td (ACC voted to open a new docket investigating whether the Electric Ener) Tj ET Q q 0 0 0 rg BT 523.47 430.95 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.15 Td (Ef) Tj ET Q q 0 0 0 rg BT 60.15 417.15 Td (ficiency Rulesshould be modified. ) Tj ET Q q 0 0 0 rg BT 226.34 417.15 Td (The ) Tj ET Q q 0 0 0 rg BT 246.46 417.15 Td (ACC held a series of three workshops in Marchand ) Tj ET Q q 0 0 0 rg BT 487.27 417.15 Td (April2014 to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (investigate methodologies used to determine cost ef) Tj ET Q q 0 0 0 rg BT 287.54 403.35 Td (fective ener) Tj ET Q q 0 0 0 rg BT 341.28 403.35 Td (gy ef) Tj ET Q q 0 0 0 rg BT 364.38 403.35 Td (ficiency programs, cost recovery ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (mechanisms, incentives, and potential changes to the Electric Ener) Tj ET Q q 0 0 0 rg BT 355.86 389.55 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 380.88 389.55 Td (ficiency and Resource Planning Rules. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 361.95 Td (On November 4, 2014, the ) Tj ET Q q 0 0 0 rg BT 210.38 361.95 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 253.30 361.95 Td (f issued a request for informal comment on a draft of possible ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (amendments to ) Tj ET Q q 0 0 0 rg BT 121.69 348.15 Td (Arizona) Tj ET Q q 0 0 0 rg BT 161.92 348.15 Td (s Electric Utility Ener) Tj ET Q q 0 0 0 rg BT 262.31 348.15 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 287.33 348.15 Td (ficiency Standards. ) Tj ET Q q 0 0 0 rg BT 381.01 348.15 Td (The draft proposed substantial changes ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td (to the rules and ener) Tj ET Q q 0 0 0 rg BT 142.54 334.35 Td (gy ef) Tj ET Q q 0 0 0 rg BT 165.64 334.35 Td (ficiency standards. ) Tj ET Q q 0 0 0 rg BT 263.15 334.35 Td (The ) Tj ET Q q 0 0 0 rg BT 283.27 334.35 Td (ACC accepted written comments and took public comment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.55 Td (regarding the possible amendments on December 19, 2014. ) Tj ET Q q 0 0 0 rg BT 327.67 320.55 Td (A) Tj ET Q q 0 0 0 rg BT 335.34 320.55 Td ( formal rule making has not been initiated and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (there has been no additional action on the draft to date.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 292.95 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 279.15 Td (Rate Matters.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 149.39 279.15 Td ( ) Tj ET Q q 0 0 0 rg BT 154.51 279.15 Td (APS needs timely recovery through rates of its capital and operating expenditures to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.35 Td (maintain its financial health. ) Tj ET Q q 0 0 0 rg BT 185.55 265.35 Td (APS) Tj ET Q q 0 0 0 rg BT 209.84 265.35 Td (s retail rates are regulated by the ) Tj ET Q q 0 0 0 rg BT 361.52 265.35 Td (ACC and its wholesale electric rates ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (\(primarily for transmission\) are regulated by FERC. On June1, 201) Tj ET Q q 0 0 0 rg BT 363.67 251.55 Td (1, ) Tj ET Q q 0 0 0 rg BT 374.54 251.55 Td (APS filed a rate case with the ) Tj ET Q q 0 0 0 rg BT 512.82 251.55 Td (ACC. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (APS and other parties to the retail rate case subsequently entered into the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 465.63 237.75 Td (Agreement detailing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.95 Td (the terms upon which the parties have agreed to settle the rate case. See Note 3 for details regarding the 2012 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.15 Td (Settlement ) Tj ET Q q 0 0 0 rg BT 100.93 210.15 Td (Agreement terms and for information on ) Tj ET Q q 0 0 0 rg BT 289.99 210.15 Td (APS) Tj ET Q q 0 0 0 rg BT 314.28 210.15 Td (s FERC rates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 182.55 Td (APS has several recovery mechanisms in place that provide more timely recovery to ) Tj ET Q q 0 0 0 rg BT 476.07 182.55 Td (APS of its fuel ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.75 Td (and transmission costs, and costs associated with the promotion and implementation of its demand side ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 154.95 Td (management and renewable ener) Tj ET Q q 0 0 0 rg BT 200.31 154.95 Td (gy ef) Tj ET Q q 0 0 0 rg BT 223.41 154.95 Td (forts and customer programs. ) Tj ET Q q 0 0 0 rg BT 363.73 154.95 Td (These mechanisms are described more ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.15 Td (fully in Note 3.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 113.55 Td (As part of ) Tj ET Q q 0 0 0 rg BT 133.73 113.55 Td (APS) Tj ET Q q 0 0 0 rg BT 158.02 113.55 Td (s acquisition of SCE) Tj ET Q q 0 0 0 rg BT 255.46 113.55 Td (s interest in Units 4 and 5 of Four Corners, ) Tj ET Q q 0 0 0 rg BT 454.46 113.55 Td (APS and SCE agreed, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.75 Td (via a T) Tj ET Q q 0 0 0 rg BT 86.13 99.75 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 143.74 99.75 Td (T) Tj ET Q q 0 0 0 rg BT 149.97 99.75 Td (ermination ) Tj ET Q q 0 0 0 rg BT 202.03 99.75 Td (Agreement that, upon closing of the acquisition, the companies would ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.95 Td (terminate an existing transmission agreement \(T) Tj ET Q q 0 0 0 rg BT 276.15 85.95 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 333.34 85.95 Td (Agreement\) between the parties that provides ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.15 Td (transmission capacity on a system \(the Arizona ) Tj ET Q q 0 0 0 rg BT 274.44 72.15 Td (T) Tj ET Q q 0 0 0 rg BT 281.06 72.15 Td (ransmission System\) for SCE to transmit its portion of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.35 Td (output from Four Corners to California. ) Tj ET Q q 0 0 0 rg BT 237.32 58.35 Td (APS previously submitted a request to FERC related to this ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 109 0 obj <>] /Rotate 0 /Contents 110 0 R>> endobj 110 0 obj <> stream 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 49.50 734.55 Td (termination, which resulted in a FERC order denying rate recovery of $40 million that ) Tj ET Q q 0 0 0 rg BT 448.40 734.55 Td (APS agreed to pay SCE ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (associated with the termination. ) Tj ET Q q 0 0 0 rg BT 200.89 720.75 Td (APS and SCE negotiated an alternate arrangement under which SCE would ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (assign its 1,555 MW) Tj ET Q q 0 0 0 rg BT 144.49 706.95 Td ( capacity rights over the ) Tj ET Q q 0 0 0 rg BT 257.22 706.95 Td (Arizona ) Tj ET Q q 0 0 0 rg BT 296.92 706.95 Td (T) Tj ET Q q 0 0 0 rg BT 303.55 706.95 Td (ransmission System to third parties, including 300 MW) Tj ET Q q 0 0 0 rg BT 558.24 706.95 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (to ) Tj ET Q q 0 0 0 rg BT 60.69 693.15 Td (APS) Tj ET Q q 0 0 0 rg BT 84.98 693.15 Td (s marketing and trading group. However) Tj ET Q q 0 0 0 rg BT 273.90 693.15 Td (, this alternative arrangement was not approved by FERC. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (late March2014, ) Tj ET Q q 0 0 0 rg BT 129.98 679.35 Td (APS and SCE filed requests for rehearing with FERC. Both requests for rehearing were ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (denied on ) Tj ET Q q 0 0 0 rg BT 96.77 665.55 Td (August 14, 2014. ) Tj ET Q q 0 0 0 rg BT 178.24 665.55 Td (Although ) Tj ET Q q 0 0 0 rg BT 223.92 665.55 Td (APS and SCE continue to evaluate potential paths forward, it is possible ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (that the terms of the ) Tj ET Q q 0 0 0 rg BT 144.14 651.75 Td (T) Tj ET Q q 0 0 0 rg BT 150.76 651.75 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 208.38 651.75 Td (T) Tj ET Q q 0 0 0 rg BT 214.60 651.75 Td (ermination ) Tj ET Q q 0 0 0 rg BT 266.66 651.75 Td (Agreement may again control. ) Tj ET Q q 0 0 0 rg BT 411.64 651.75 Td (APS believes that the original ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (denial by FERC of rate recovery under the ) Tj ET Q q 0 0 0 rg BT 247.92 637.95 Td (T) Tj ET Q q 0 0 0 rg BT 254.54 637.95 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 312.16 637.95 Td (T) Tj ET Q q 0 0 0 rg BT 318.38 637.95 Td (ermination ) Tj ET Q q 0 0 0 rg BT 370.44 637.95 Td (Agreement constitutes the failure of a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (condition that relieves ) Tj ET Q q 0 0 0 rg BT 153.94 624.15 Td (APS of its obligations under that agreement. If ) Tj ET Q q 0 0 0 rg BT 373.68 624.15 Td (APS and SCE were unable to determine ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (a resolution through negotiation, the ) Tj ET Q q 0 0 0 rg BT 219.21 610.35 Td (T) Tj ET Q q 0 0 0 rg BT 225.83 610.35 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 283.44 610.35 Td (T) Tj ET Q q 0 0 0 rg BT 289.66 610.35 Td (ermination ) Tj ET Q q 0 0 0 rg BT 341.72 610.35 Td (Agreement requires that disputes be resolved ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (through arbitration. ) Tj ET Q q 0 0 0 rg BT 144.04 596.55 Td (APS is unable to predict the outcome of this matter if it proceeds to arbitration. If the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (matter proceeds to arbitration and ) Tj ET Q q 0 0 0 rg BT 206.93 582.75 Td (APS is not successful, ) Tj ET Q q 0 0 0 rg BT 311.40 582.75 Td (APS may be required to record a char) Tj ET Q q 0 0 0 rg BT 484.59 582.75 Td (ge to its results ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (of operations. ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 541.35 Td (Deregulation.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 150.99 541.35 Td ( On May9, 2013, the ) Tj ET Q q 0 0 0 rg BT 254.17 541.35 Td (ACC voted to re-examine the facilitation of a deregulated retail ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (electric market in ) Tj ET Q q 0 0 0 rg BT 132.20 527.55 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 177.66 527.55 Td (The ) Tj ET Q q 0 0 0 rg BT 197.78 527.55 Td (ACC subsequently opened a docket for this matter and received comments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (from a number of interested parties on the considerations involved in establishing retail electric deregulation in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (the state. One of these considerations is whether various aspects of a deregulated market, including setting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (utility rates on a market basis, would be consistent with the requirements of the ) Tj ET Q q 0 0 0 rg BT 426.68 486.15 Td (Arizona Constitution. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (September1) Tj ET Q q 0 0 0 rg BT 106.88 472.35 Td (1, 2013, after receiving legal advice from the ) Tj ET Q q 0 0 0 rg BT 316.35 472.35 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 359.27 472.35 Td (f, the ) Tj ET Q q 0 0 0 rg BT 385.14 472.35 Td (ACC voted 4-1 to close the current ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (docket and await full ) Tj ET Q q 0 0 0 rg BT 148.50 458.55 Td (Arizona Constitutional authority before any further examination of this matter) Tj ET Q q 0 0 0 rg BT 507.15 458.55 Td (. ) Tj ET Q q 0 0 0 rg BT 515.57 458.55 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (motion approved by the ) Tj ET Q q 0 0 0 rg BT 161.29 444.75 Td (ACC also included opening one or more new dockets in the future to explore options ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.95 Td (to of) Tj ET Q q 0 0 0 rg BT 70.69 430.95 Td (fer more rate choices to customers and innovative changes within the existing cost-of-service regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.15 Td (model that could include elements of competition. ) Tj ET Q q 0 0 0 rg BT 285.95 417.15 Td (The ) Tj ET Q q 0 0 0 rg BT 306.07 417.15 Td (ACC opened a new docket on November4, 2013 to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td (explore technological advances and innovative changes within the electric utility industry) Tj ET Q q 0 0 0 rg BT 460.72 403.35 Td (. ) Tj ET Q q 0 0 0 rg BT 468.71 403.35 Td (A) Tj ET Q q 0 0 0 rg BT 476.38 403.35 Td ( series of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (workshops in this docket were held in 2014 and another is currently scheduled for February 26, 2015.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 375.75 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 361.95 Td (Net Metering.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 151.30 361.95 Td ( On July12, 2013, ) Tj ET Q q 0 0 0 rg BT 241.39 361.95 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 396.63 361.95 Td (ACC proposing a solution to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td (address the cost shift brought by the current net metering rules. On December3, 2013, the ) Tj ET Q q 0 0 0 rg BT 469.15 348.15 Td (ACC issued its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.35 Td (order on ) Tj ET Q q 0 0 0 rg BT 90.38 334.35 Td (APS) Tj ET Q q 0 0 0 rg BT 114.67 334.35 Td (s net metering proposal. ) Tj ET Q q 0 0 0 rg BT 230.72 334.35 Td (The ) Tj ET Q q 0 0 0 rg BT 250.84 334.35 Td (ACC instituted a char) Tj ET Q q 0 0 0 rg BT 350.60 334.35 Td (ge on customers who install rooftop solar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.55 Td (panels after December31, 2013, and directed ) Tj ET Q q 0 0 0 rg BT 260.57 320.55 Td (APS to provide quarterly reports on the pace of rooftop solar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (adoption to assist the ) Tj ET Q q 0 0 0 rg BT 148.53 306.75 Td (ACC in considering further increases. ) Tj ET Q q 0 0 0 rg BT 328.12 306.75 Td (The char) Tj ET Q q 0 0 0 rg BT 368.46 306.75 Td (ge of $0.70 per kilowatt became ef) Tj ET Q q 0 0 0 rg BT 528.23 306.75 Td (fective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.95 Td (on January1, 2014, and is estimated to collect $4.90 per month from a typical future rooftop solar customer to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.15 Td (help pay for their use of the electricity grid. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 251.55 Td (In making its decision, the ) Tj ET Q q 0 0 0 rg BT 209.43 251.55 Td (ACC determined that the current net metering program creates a cost shift, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (causing non-solar utility customers to pay higher rates to cover the costs of maintaining the electrical grid. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.95 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 92.42 223.95 Td (f and the state) Tj ET Q q 0 0 0 rg BT 159.80 223.95 Td (s Residential Utility Consumer Of) Tj ET Q q 0 0 0 rg BT 316.75 223.95 Td (fice, among other or) Tj ET Q q 0 0 0 rg BT 409.78 223.95 Td (ganizations, also agreed that a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.15 Td (cost shift exists. ) Tj ET Q q 0 0 0 rg BT 128.83 210.15 Td (The fixed char) Tj ET Q q 0 0 0 rg BT 195.67 210.15 Td (ge does not increase ) Tj ET Q q 0 0 0 rg BT 290.84 210.15 Td (APS) Tj ET Q q 0 0 0 rg BT 315.13 210.15 Td (s revenue because it is credited to the LFCR, but it ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.35 Td (will modestly reduce the impact of the cost shift on non-solar customers. ) Tj ET Q q 0 0 0 rg BT 389.75 196.35 Td (The ) Tj ET Q q 0 0 0 rg BT 409.87 196.35 Td (ACC acknowledged that the new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.55 Td (char) Tj ET Q q 0 0 0 rg BT 69.08 182.55 Td (ge addresses only a portion of the cost shift. ) Tj ET Q q 0 0 0 rg BT 276.79 182.55 Td (The ) Tj ET Q q 0 0 0 rg BT 296.91 182.55 Td (ACC also required ) Tj ET Q q 0 0 0 rg BT 385.39 182.55 Td (APS to file its next rate case in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.75 Td (June2015, the earliest date contemplated in the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 348.11 168.75 Td (Agreement.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 154.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 141.15 Td (In May2014, the ) Tj ET Q q 0 0 0 rg BT 166.95 141.15 Td (ACC began conducting a series of workshops to, among other things, evaluate the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.35 Td (role and value of the electric grid as it relates to rooftop solar and other issues regarding net metering.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.75 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 99.75 Td (On July22, 2014, the ) Tj ET Q q 0 0 0 rg BT 186.77 99.75 Td (ACC Commissioners voted to reopen the December2013 net metering decision ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.95 Td (for the limited purpose of deciding whether to eliminate the requirement that ) Tj ET Q q 0 0 0 rg BT 404.62 85.95 Td (APS file its next rate case in June ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.15 Td (2015. ) Tj ET Q q 0 0 0 rg BT 80.92 72.15 Td (The vote included a request that parties comment in the docket about their thoughts on removing the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.35 Td (filing date requirement and on the process for the broader discussion regarding rate design. On ) Tj ET Q q 0 0 0 rg BT 487.02 58.35 Td (August 12, ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 111 0 obj <>] /Rotate 0 /Contents 112 0 R>> endobj 112 0 obj <> stream 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 49.50 734.55 Td (2014, the ) Tj ET Q q 0 0 0 rg BT 94.54 734.55 Td (ACC Commissioners voted to lift the requirement that ) Tj ET Q q 0 0 0 rg BT 346.88 734.55 Td (APS file its next general rate case by June ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (2015. On September 29, 2014, the staf) Tj ET Q q 0 0 0 rg BT 226.56 720.75 Td (f of the ) Tj ET Q q 0 0 0 rg BT 262.01 720.75 Td (ACC filed in a new docket a proposal for permitting a utility to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (request ) Tj ET Q q 0 0 0 rg BT 84.95 706.95 Td (ACC approval of its proposed rate design outside of and before a general rate case. On October 20, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (2014, ) Tj ET Q q 0 0 0 rg BT 77.62 693.15 Td (APS and other interested stakeholders filed comments to this proposal. No further action has been taken ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (in this docket.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.55 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 651.75 Td (Financial Strength and Flexibility) Tj ET Q q 0 0 0 rg BT 247.71 651.75 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 250.58 651.75 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 298.60 651.75 Td (W) Tj ET Q q 0 0 0 rg BT 308.53 651.75 Td (est and ) Tj ET Q q 0 0 0 rg BT 343.03 651.75 Td (APS currently have ample borrowing capacity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (under their respective credit facilities, and may readily access these facilities ensuring adequate liquidity for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (each company) Tj ET Q q 0 0 0 rg BT 114.85 624.15 Td (. Capital expenditures will be funded with internally generated cash and external financings, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (which may include issuances of long-term debt and Pinnacle ) Tj ET Q q 0 0 0 rg BT 331.29 610.35 Td (W) Tj ET Q q 0 0 0 rg BT 341.22 610.35 Td (est common stock.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 596.55 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 582.75 Td (Other Subsidiaries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 555.15 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 555.15 Td (Bright Canyon Energy) Tj ET Q q 0 0 0 rg BT 196.68 555.15 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 199.56 555.15 Td (On July31, 2014, Pinnacle ) Tj ET Q q 0 0 0 rg BT 329.68 555.15 Td (W) Tj ET Q q 0 0 0 rg BT 339.61 555.15 Td (est announced its creation of a wholly owned ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.35 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 96.03 541.35 Td (, BCE. BCE will focus on new growth opportunities that leverage the Company) Tj ET Q q 0 0 0 rg BT 468.77 541.35 Td (s core expertise in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (the electric ener) Tj ET Q q 0 0 0 rg BT 122.71 527.55 Td (gy industry) Tj ET Q q 0 0 0 rg BT 174.04 527.55 Td (. BCE) Tj ET Q q 0 0 0 rg BT 208.22 527.55 Td (s first initiative is a 50/50 joint venture with MidAmerican ) Tj ET Q q 0 0 0 rg BT 480.15 527.55 Td (T) Tj ET Q q 0 0 0 rg BT 486.77 527.55 Td (ransmission, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.75 Td (LLC. ) Tj ET Q q 0 0 0 rg BT 79.64 513.75 Td (The joint venture, named ) Tj ET Q q 0 0 0 rg BT 197.91 513.75 Td (T) Tj ET Q q 0 0 0 rg BT 204.53 513.75 Td (ransCanyon, intends to focus on transmission opportunities within the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 499.95 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 499.95 Td (estern Electricity Coordinating Council, excluding the retail service territories of the venture partners) Tj ET Q q 0 0 0 rg BT 527.69 499.95 Td ( utility ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.15 Td (af) Tj ET Q q 0 0 0 rg BT 58.23 486.15 Td (filiates. ) Tj ET Q q 0 0 0 rg BT 97.94 486.15 Td (The joint venture submitted a bid into CAISO's competitive solicitation process to design, build and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (own a new 500 kV) Tj ET Q q 0 0 0 rg BT 136.17 472.35 Td ( transmission line between ) Tj ET Q q 0 0 0 rg BT 260.73 472.35 Td (Arizona and California, the Delaney to Colorado River ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.12 458.55 Td (ransmission Line. ) Tj ET Q q 0 0 0 rg BT 143.43 458.55 Td (The winner of the bidding process is expected to be announced in 2015. ) Tj ET Q q 0 0 0 rg BT 479.52 458.55 Td (This transmission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.75 Td (line will connect a planned Delaney substation near Palo ) Tj ET Q q 0 0 0 rg BT 312.76 444.75 Td (V) Tj ET Q q 0 0 0 rg BT 319.79 444.75 Td (erde in ) Tj ET Q q 0 0 0 rg BT 353.64 444.75 Td (Arizona to the existing Colorado River ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.95 Td (substation located just west of Blythe, California.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 403.35 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 403.35 Td (El Dorado.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.17 403.35 Td ( ) Tj ET Q q 0 0 0 rg BT 144.71 403.35 Td (The operations of El Dorado are not expected to have any material impact on our financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (results, or to require any material amounts of capital, over the next three years.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 375.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 361.95 Td (Key Financial Drivers) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 334.35 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 49.50 320.55 Td (financial results and our future financial outlook, including those listed below) Tj ET Q q 0 0 0 rg BT 406.13 320.55 Td (. ) Tj ET Q q 0 0 0 rg BT 414.55 320.55 Td (W) Tj ET Q q 0 0 0 rg BT 424.48 320.55 Td (e closely monitor these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (factors to plan for the Company) Tj ET Q q 0 0 0 rg BT 199.28 306.75 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 49.50 292.95 Td (appropriately) Tj ET Q q 0 0 0 rg BT 110.06 292.95 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 279.15 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 265.35 Td (Electric Operating Revenues.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.45 265.35 Td ( For the years 2012 through 2014, retail electric revenues comprised ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.55 Td (approximately 93% of our total electric operating revenues. Our electric operating revenues are af) Tj ET Q q 0 0 0 rg BT 505.27 251.55 Td (fected by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 Td (customer growth or decline, variations in weather from period to period, customer mix, average usage per ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.95 Td (customer and the impacts of ener) Tj ET Q q 0 0 0 rg BT 201.62 223.95 Td (gy ef) Tj ET Q q 0 0 0 rg BT 224.72 223.95 Td (ficiency programs, distributed ener) Tj ET Q q 0 0 0 rg BT 385.46 223.95 Td (gy additions, electricity rates and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.15 Td (tarif) Tj ET Q q 0 0 0 rg BT 68.45 210.15 Td (fs, the recovery of PSA) Tj ET Q q 0 0 0 rg BT 175.44 210.15 Td ( deferrals and the operation of other recovery mechanisms. ) Tj ET Q q 0 0 0 rg BT 451.45 210.15 Td (These revenue ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.35 Td (transactions are af) Tj ET Q q 0 0 0 rg BT 132.95 196.35 Td (fected by the availability of excess generation or other ener) Tj ET Q q 0 0 0 rg BT 405.11 196.35 Td (gy resources and wholesale ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.55 Td (market conditions, including competition, demand and prices.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 168.75 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 154.95 Td (Customer and Sales Growth.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 221.62 154.95 Td ( Retail customers in ) Tj ET Q q 0 0 0 rg BT 318.40 154.95 Td (APS) Tj ET Q q 0 0 0 rg BT 342.70 154.95 Td (s service territory increased 1.4% for the year ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.15 Td (ended December 31, 2014 compared with the prior) Tj ET Q q 0 0 0 rg BT 283.67 141.15 Td (-year) Tj ET Q q 0 0 0 rg BT 306.65 141.15 Td (. For the three years 2012 through 2014, ) Tj ET Q q 0 0 0 rg BT 496.69 141.15 Td (APS) Tj ET Q q 0 0 0 rg BT 520.98 141.15 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.35 Td (customer growth averaged 1.3% per year) Tj ET Q q 0 0 0 rg BT 237.90 127.35 Td (. ) Tj ET Q q 0 0 0 rg BT 246.32 127.35 Td (W) Tj ET Q q 0 0 0 rg BT 256.25 127.35 Td (e currently expect annual customer growth to average in the range ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.55 Td (of 2.0-3.0% for 2015 through 2017 based on our assessment of modestly improving economic conditions in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.75 Td (Arizona. Retail electricity sales in kWh, adjusted to exclude the ef) Tj ET Q q 0 0 0 rg BT 356.81 99.75 Td (fects of weather variations, were flat for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.95 Td (year ended December31, 2014 compared with the prior) Tj ET Q q 0 0 0 rg BT 306.33 85.95 Td (-year) Tj ET Q q 0 0 0 rg BT 329.49 85.95 Td (, reflecting the ef) Tj ET Q q 0 0 0 rg BT 407.82 85.95 Td (fects of customer conservation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.15 Td (and ener) Tj ET Q q 0 0 0 rg BT 88.56 72.15 Td (gy ef) Tj ET Q q 0 0 0 rg BT 111.66 72.15 Td (ficiency and distributed renewable generation initiatives, partially of) Tj ET Q q 0 0 0 rg BT 426.32 72.15 Td (fset by improving economic ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.35 Td (conditions and customer growth. For the three years 2012 through 2014, ) Tj ET Q q 0 0 0 rg BT 387.42 58.35 Td (APS experienced annual decreases in ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 113 0 obj <>] /Rotate 0 /Contents 114 0 R>> endobj 114 0 obj <> stream 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 49.50 734.55 Td (retail electricity sales averaging 0.2%, adjusted to exclude the ef) Tj ET Q q 0 0 0 rg BT 345.30 734.55 Td (fects of weather variations. ) Tj ET Q q 0 0 0 rg BT 475.38 734.55 Td (W) Tj ET Q q 0 0 0 rg BT 485.31 734.55 Td (e currently ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (estimate that annual retail electricity sales in kWh will increase on average in the range of 0.5-1.5% during ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (2015 through 2017, including the ef) Tj ET Q q 0 0 0 rg BT 214.74 706.95 Td (fects of customer conservation and ener) Tj ET Q q 0 0 0 rg BT 397.51 706.95 Td (gy ef) Tj ET Q q 0 0 0 rg BT 420.61 706.95 Td (ficiency and distributed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (renewable generation initiatives, but excluding the ef) Tj ET Q q 0 0 0 rg BT 293.58 693.15 Td (fects of weather variations. ) Tj ET Q q 0 0 0 rg BT 423.23 693.15 Td (A) Tj ET Q q 0 0 0 rg BT 430.90 693.15 Td ( slower recovery of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (Arizona economy could further impact these estimates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 655.55 Td (Actual sales growth, excluding weather) Tj ET Q q 0 0 0 rg BT 266.98 655.55 Td (-related variations, may dif) Tj ET Q q 0 0 0 rg BT 391.31 655.55 Td (fer from our projections as a result ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 641.75 Td (of numerous factors, such as economic conditions, customer growth, usage patterns and ener) Tj ET Q q 0 0 0 rg BT 475.64 641.75 Td (gy conservation, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 627.95 Td (impacts of ener) Tj ET Q q 0 0 0 rg BT 120.18 627.95 Td (gy ef) Tj ET Q q 0 0 0 rg BT 143.28 627.95 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 49.50 614.15 Td (changes. Based on past experience, a reasonable range of variation in our kWh sales projection attributable to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 600.35 Td (such economic factors under normal business conditions can result in increases or decreases in annual net ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 586.55 Td (income of up to $10 million.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 572.75 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 558.95 Td (W) Tj ET Q q 0 0 0 rg BT 94.87 558.95 Td (eather) Tj ET Q q 0 0 0 rg BT 124.26 558.95 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 127.14 558.95 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 49.50 545.15 Td (patterns based on historical data. Historically) Tj ET Q q 0 0 0 rg BT 259.21 545.15 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 49.50 531.35 Td (net income in excess of $20 million. However) Tj ET Q q 0 0 0 rg BT 263.98 531.35 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 49.50 517.55 Td (normal weather can result in increases or decreases in annual net income of up to $10 million.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 503.75 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 489.95 Td (Fuel and Purchased Power Costs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 246.21 489.95 Td ( Fuel and purchased power costs included on our Consolidated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 476.15 Td (Statements of Income are impacted by our electricity sales volumes, existing contracts for purchased power ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 462.35 Td (and generation fuel, our power plant performance, transmission availability or constraints, prevailing market ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 448.55 Td (prices, new generating plants being placed in service in our market areas, changes in our generation resource ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 434.75 Td (allocation, our hedging program for managing such costs and PSA) Tj ET Q q 0 0 0 rg BT 354.84 434.75 Td ( deferrals and the related amortization.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 420.95 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 407.15 Td (Operations and Maintenance Expenses) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 271.76 407.15 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 277.51 407.15 Td ( Operations and maintenance expenses are impacted by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 393.35 Td (customer and sales growth, power plant operations, maintenance of utility plant \(including generation, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 379.55 Td (transmission, and distribution facilities\), inflation, outages, renewable ener) Tj ET Q q 0 0 0 rg BT 393.25 379.55 Td (gy and demand side management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 365.75 Td (related expenses \(which are of) Tj ET Q q 0 0 0 rg BT 189.14 365.75 Td (fset by the same amount of operating revenues\) and other factors. In the 2009 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 351.95 Td (Settlement ) Tj ET Q q 0 0 0 rg BT 100.93 351.95 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 157.13 351.95 Td (APS committed to operational expense reductions from 2010 through 2014. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 511.66 351.95 Td (On ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 338.75 Td (September 30, 2014, Pinnacle ) Tj ET Q q 0 0 0 rg BT 183.72 338.75 Td (W) Tj ET Q q 0 0 0 rg BT 193.22 338.75 Td (est announced plan design changes to the group life and medical postretirement ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 325.55 Td (benefit plan, which required an interim remeasurement of the benefit obligation for the plan. ) Tj ET Q q 0 0 0 rg BT 461.35 325.55 Td (This remeasurement is ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 312.35 Td (expected to reduce net periodic benefit costs on a prospective basis. See Note 7. In October 2014, the Society of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 299.15 Td (Actuaries' Retirement Plans Experience Committee issued its final report on mortality tables \("RP-2014 Mortality ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 285.95 Td (T) Tj ET Q q 0 0 0 rg BT 55.45 285.95 Td (ables Report"\). ) Tj ET Q q 0 0 0 rg BT 126.54 285.95 Td (At December 31, 2014, we updated our mortality assumptions using a modification of these tables, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 272.75 Td (which better reflects our employees' demographics. See Note 7 for additional details. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.95 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 245.15 Td (Depreciation and ) Tj ET Q q 0 0 0 rg BT 170.05 245.15 Td (Amortization Expenses.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 282.52 245.15 Td ( Depreciation and amortization expenses are impacted by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 231.35 Td (net additions to utility plant and other property \(such as new generation, transmission, and distribution ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 217.55 Td (facilities\), and changes in depreciation and amortization rates. See Capital Expenditures below for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 203.75 Td (information regarding the planned additions to our facilities. See Note 3 regarding deferral of certain costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 189.95 Td (pursuant to an ) Tj ET Q q 0 0 0 rg BT 116.90 189.95 Td (ACC order) Tj ET Q q 0 0 0 rg BT 167.05 189.95 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 176.15 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 162.35 Td (Property T) Tj ET Q q 0 0 0 rg BT 135.22 162.35 Td (axes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 159.18 162.35 Td ( ) Tj ET Q q 0 0 0 rg BT 164.72 162.35 Td (T) Tj ET Q q 0 0 0 rg BT 170.94 162.35 Td (axes other than income taxes consist primarily of property taxes, which are af) Tj ET Q q 0 0 0 rg BT 527.44 162.35 Td (fected ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 148.55 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 474.03 148.55 Td (The average ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 134.75 Td (property tax rate in ) Tj ET Q q 0 0 0 rg BT 139.55 134.75 Td (Arizona for ) Tj ET Q q 0 0 0 rg BT 195.12 134.75 Td (APS, which owns essentially all of our property) Tj ET Q q 0 0 0 rg BT 414.76 134.75 Td (, was 10.7% of the assessed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.95 Td (value for 2014, 10.5% for 2013, and 9.6% for 2012. ) Tj ET Q q 0 0 0 rg BT 293.94 120.95 Td (W) Tj ET Q q 0 0 0 rg BT 303.87 120.95 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 49.50 107.15 Td (generating units and continue with improvements and expansions to our existing generating units, transmission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 93.35 Td (and distribution facilities. \(See Note 3 for property tax deferrals contained in the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 502.04 93.35 Td (Agreement\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 79.55 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 115 0 obj <>] /Rotate 0 /Contents 116 0 R>> endobj 116 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (54) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 734.75 Td (Income T) Tj ET Q q 0 0 0 rg BT 130.12 734.75 Td (axes) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 151.20 734.75 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 154.08 734.75 Td ( Income taxes are af) Tj ET Q q 0 0 0 rg BT 249.33 734.75 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 49.50 720.95 Td (certain deductions and non-taxable items, such as ) Tj ET Q q 0 0 0 rg BT 279.44 720.95 Td (AFUDC. In addition, income taxes may also be af) Tj ET Q q 0 0 0 rg BT 512.70 720.95 Td (fected by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.15 Td (the settlement of issues with taxing authorities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.35 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 679.55 Td (Interest Expense.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 167.92 679.55 Td ( Interest expense is af) Tj ET Q q 0 0 0 rg BT 270.22 679.55 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 49.50 665.75 Td (on that debt \(see Note 6\). ) Tj ET Q q 0 0 0 rg BT 171.29 665.75 Td (The primary factors af) Tj ET Q q 0 0 0 rg BT 274.21 665.75 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 49.50 651.95 Td (expenditures, long-term debt maturities, equity issuances and internally generated cash flow) Tj ET Q q 0 0 0 rg BT 472.21 651.95 Td (. ) Tj ET Q q 0 0 0 rg BT 480.21 651.95 Td (An allowance for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.15 Td (borrowed funds used during construction of) Tj ET Q q 0 0 0 rg BT 250.83 638.15 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 49.50 624.35 Td (construction. ) Tj ET Q q 0 0 0 rg BT 114.77 624.35 Td (W) Tj ET Q q 0 0 0 rg BT 124.70 624.35 Td (e stop accruing ) Tj ET Q q 0 0 0 rg BT 196.56 624.35 Td (AFUDC on a project when it is placed in commercial operation.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 231.80 582.95 Td (RESUL) Tj ET Q q 0 0 0 rg BT 269.09 582.95 Td (TS OF) Tj ET Q q 0 0 0 rg BT 301.58 582.95 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 343.85 582.95 Td (TIONS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.75 569.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.35 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 555.35 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 555.35 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 555.35 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 49.50 541.55 Td (of traditional regulated retail and wholesale electricity businesses \(primarily electric service to Native Load ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.75 Td (customers\) and related activities and includes electricity generation, transmission and distribution.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 513.95 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 500.15 Td (Operating Results 2014 compar) Tj ET Q q 0 0 0 rg BT 213.48 500.15 Td (ed with 2013.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 472.55 Td (Our consolidated net income attributable to common shareholders for the year ended December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.75 Td (2014 was $398 million, compared with net income of $406 million for the prior year) Tj ET Q q 0 0 0 rg BT 438.19 458.75 Td (. ) Tj ET Q q 0 0 0 rg BT 446.61 458.75 Td (The results reflect a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.95 Td (decrease of approximately $4 million for the regulated electricity segment primarily due to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 470.07 444.95 Td (higher fossil ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 431.75 Td (generation costs, lower retail sales due to the ef) Tj ET Q q 0 0 0 rg BT 257.92 431.75 Td (fects of weather) Tj ET Q q 0 0 0 rg BT 327.72 431.75 Td (, higher property taxes, and lower retail transmission ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 418.55 Td (revenues. ) Tj ET Q q 0 0 0 rg BT 96.64 418.55 Td (These negative factors were partially of) Tj ET Q q 0 0 0 rg BT 270.83 418.55 Td (fset by lower operations and maintenance expenses related to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 405.35 Td (lower employee benefit costs, higher other income, and increased revenues for lost fixed cost recovery) Tj ET Q q 0 0 0 rg BT 500.23 405.35 Td (. ) Tj ET Q q 0 0 0 rg BT 507.87 405.35 Td (All other ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 392.15 Td (segment's income was lower by $4 million primarily related to El Dorado's investment losses. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 378.35 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 358.55 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 49.50 344.75 Td (compared with the prior year:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 278.25 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 278.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 278.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 278.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 278.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 278.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 246.25 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 246.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 246.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 246.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 246.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 246.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 214.25 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 214.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 214.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 214.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 214.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 214.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 182.25 309.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 182.25 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 182.25 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 182.25 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 182.25 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 182.25 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 139.25 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 139.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 139.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 139.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 139.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 139.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 107.25 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 107.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 107.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 107.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 107.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 107.25 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 359 308.25 m 424 308.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 308.25 m 428 308.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 308.25 m 493 308.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 293.25 m 424 293.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 308.25 m 493 308.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 293.25 m 493 293.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 293.25 m 562 293.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 123.25 m 424 123.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 123.25 m 493 123.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 123.25 m 562 123.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 91.25 m 424 91.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 91.25 m 493 91.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 91.25 m 562 91.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 91.25 m 424 91.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 76.25 m 424 76.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 74.25 m 424 74.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 91.25 m 493 91.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 76.25 m 493 76.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 74.25 m 493 74.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 91.25 m 562 91.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 76.25 m 562 76.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 74.25 m 562 74.25 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 310.97 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 397.90 324.15 Td (Y) Tj ET Q q 0 0 0 rg BT 404.62 324.15 Td (ear) Tj ET Q q 0 0 0 rg BT 419.69 324.15 Td (Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 393.50 313.15 Td (December) Tj ET Q q 0 0 0 rg BT 440.94 313.15 Td (31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 529.00 313.15 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 380.00 298.15 Td (2014) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 449.00 298.15 Td (2013) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 501.30 298.15 Td (NetChange) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 280.97 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 414.15 283.15 Td (\(dollarsinmillions\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 267.78 Td (Regulated Electricity Segment:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.50 267.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.50 267.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 267.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 251.78 Td (Operating revenues less fuel and purchased power expenses) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 251.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 393.75 251.28 Td (2,309) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 251.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.75 251.28 Td (2,356) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 251.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 251.33 Td (\(47) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 251.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 235.78 Td (Operations and maintenance) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 235.33 Td (\(908) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 235.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 235.33 Td (\(925) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 235.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 235.28 Td (17) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 219.78 Td (Depreciation and amortization) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 219.33 Td (\(417) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 219.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 219.33 Td (\(416) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 219.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 219.33 Td (\(1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 219.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 203.78 Td (Taxes other than income taxes) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 203.33 Td (\(172) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 203.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 203.33 Td (\(164) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 203.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 203.33 Td (\(8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 203.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 187.78 Td (All other income and expenses, net) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 187.28 Td (28) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 187.28 Td (11) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 187.28 Td (17) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 171.78 Td (Interest charges, net of allowance for borrowed funds used during) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 160.28 Td (construction) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 160.33 Td (\(185) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 160.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 160.33 Td (\(187) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 160.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 160.28 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 144.78 Td (Income taxes) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 144.33 Td (\(224) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 144.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 144.33 Td (\(232) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 144.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 144.28 Td (8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 128.78 Td (Less income related to noncontrolling interests \(Note 18\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.30 128.33 Td (\(26) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 128.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.30 128.33 Td (\(34) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 128.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 128.28 Td (8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 112.78 Td (Regulated electricity segment net income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.40 112.28 Td (405) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 112.28 Td (409) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 112.33 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 112.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 96.78 Td (All other) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.05 96.33 Td (\(7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 96.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.05 96.33 Td (\(3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 96.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 96.33 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 96.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 80.78 Td (Net Income Attributable to Common Shareholders) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 80.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.40 80.28 Td (398) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 80.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 80.28 Td (406) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 80.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 80.33 Td (\(8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 80.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 117 0 obj <>] /Rotate 0 /Contents 118 0 R>> endobj 118 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (55) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 727.25 Td (Operating revenues less fuel and purchased power expenses) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 369.49 727.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 375.24 727.25 Td ( Regulated electricity segment operating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (revenues less fuel and purchased power expenses were $47 million lower for the year ended December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td (2014 compared with the prior year) Tj ET Q q 0 0 0 rg BT 208.22 699.65 Td (. ) Tj ET Q q 0 0 0 rg BT 216.64 699.65 Td (The following table summarizes the major components of this change:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 611.15 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 611.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 611.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 611.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 611.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 611.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 568.15 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 568.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 568.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 568.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 568.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 568.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 525.15 309.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 525.15 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 525.15 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 525.15 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 525.15 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 525.15 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 482.15 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 482.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 482.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 482.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 482.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 482.15 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 359 674.15 m 424 674.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 674.15 m 428 674.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 674.15 m 493 674.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 674.15 m 497 674.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 674.15 m 562 674.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 626.15 m 424 626.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 626.15 m 493 626.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 626.15 m 562 626.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 466.15 m 424 466.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 466.15 m 493 466.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 466.15 m 424 466.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 451.15 m 424 451.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 449.15 m 424 449.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 466.15 m 493 466.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 451.15 m 493 451.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 449.15 m 493 449.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 466.15 m 562 466.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 451.15 m 562 451.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 449.15 m 562 449.15 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 676.87 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 414.20 679.05 Td (Increase\(Decrease\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 628.87 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 366.85 642.05 Td (Operating) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 370.30 631.05 Td (r) Tj ET Q q 0 0 0 rg BT 374.98 631.05 Td (evenues) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 439.35 664.05 Td (Fueland) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 435.65 653.05 Td (pur) Tj ET Q q 0 0 0 rg BT 452.57 653.05 Td (chased) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 445.40 642.05 Td (power) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 439.50 631.05 Td (expenses) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 502.85 631.05 Td (Netchange) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 613.87 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 414.15 616.05 Td (\(dollarsinmillions\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 600.68 Td (Effects of weather) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 600.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.30 600.23 Td (\(45) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 600.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 600.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.30 600.23 Td (\(16) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 600.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 600.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 600.23 Td (\(29) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 600.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 584.68 Td (Lower demand side management regulatory surcharges, offset by) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 573.18 Td (renewable energy regulatory surcharges and purchased power) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 573.18 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 573.18 Td (20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 573.23 Td (\(20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 573.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 557.68 Td (Lower retail transmission revenues) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.05 557.23 Td (\(7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 557.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 557.18 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 557.23 Td (\(7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 557.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 541.68 Td (Lower retail sales due to changes in customer usage patterns and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 530.18 Td (related pricing, partially offset by customer growth) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.05 530.23 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 530.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 530.18 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 530.23 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 530.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 514.68 Td (Higher net fuel and purchased power costs, including related) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 503.18 Td (deferrals and higher off-system sales margins) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 503.18 Td (78) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 503.18 Td (79) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 503.23 Td (\(1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 503.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 487.68 Td (Lost fixed cost recovery) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 487.18 Td (12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 487.18 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 487.18 Td (12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 471.68 Td (Miscellaneous items, net) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 413.90 471.18 Td (3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 482.90 471.18 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 471.18 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 455.68 Td (Total) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 455.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 455.18 Td (37) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 455.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 455.18 Td (84) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 455.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 455.23 Td (\(47) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 455.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 436.85 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 409.25 Td (Operations and maintenance) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 222.88 409.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 225.76 409.25 Td ( Operations and maintenance expenses decreased $17 million for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 395.45 Td (year ended December31, 2014 compared with the prior year primarily because of:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 372.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 372.65 Td (A) Tj ET Q q 0 0 0 rg BT 129.17 372.65 Td ( decrease of $33 million related to costs for demand-side management, renewable ener) Tj ET Q q 0 0 0 rg BT 527.16 372.65 Td (gy and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 358.85 Td (similar regulatory programs, which were partially of) Tj ET Q q 0 0 0 rg BT 362.40 358.85 Td (fset in operating revenues and purchased ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 345.05 Td (power;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 322.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 322.25 Td (A) Tj ET Q q 0 0 0 rg BT 129.17 322.25 Td ( decrease of $20 million related to lower employee benefit costs;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 299.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 299.45 Td (An increase of $33 million in generation costs, primarily related to an increased ownership ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 285.65 Td (share in Four Corners, a portion of which is deferred in depreciation and amortization, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 271.85 Td (higher fossil maintenance costs; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 249.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 249.05 Td (An increase of $3 million related to miscellaneous other factors.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 212.45 Td (Depreciation and amortization.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 233.42 212.45 Td ( Depreciation and amortization expenses were $1 million higher for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 198.65 Td (the year ended December31, 2014 compared with the prior year primarily related to higher plant balances of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 184.85 Td (approximately $23 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 172.15 184.85 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.65 184.85 Td (partially of) Tj ET Q q 0 0 0 rg BT 228.22 184.85 Td (fset by higher Four Corners cost deferrals in the current year of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 171.05 Td (approximately $22 million.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 143.45 Td (T) Tj ET Q q 0 0 0 rg BT 91.47 143.45 Td (axes other than income taxes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.35 143.45 Td ( ) Tj ET Q q 0 0 0 rg BT 237.90 143.45 Td (T) Tj ET Q q 0 0 0 rg BT 244.12 143.45 Td (axes other than income taxes were $8 million higher for the year ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 129.65 Td (ended December31, 2014 compared with the prior year primarily due to higher property tax rates and higher ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 115.85 Td (plant balances.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 102.05 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 88.25 Td (All other income and expenses, net.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 253.86 88.25 Td ( ) Tj ET Q q 0 0 0 rg BT 258.97 88.25 Td (All other income and expenses, net, were $17 million higher for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 74.45 Td (the year ended December31, 2014 compared with the prior year due to the debt return on the Four Corners ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 60.65 Td (acquisition, an increase in the allowance for equity funds used during construction due to higher balances, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 46.85 Td (other non-operating income.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 119 0 obj <>] /Rotate 0 /Contents 120 0 R>> endobj 120 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (56) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 727.25 Td (Income taxes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 151.30 727.25 Td ( Income taxes were $8 million lower for the year ended December31, 2014 compared ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (with the prior year primarily due to the ef) Tj ET Q q 0 0 0 rg BT 240.26 713.45 Td (fects of lower pretax income in the current year) Tj ET Q q 0 0 0 rg BT 458.03 713.45 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 685.85 Td (Operating Results 2013 compar) Tj ET Q q 0 0 0 rg BT 213.48 685.85 Td (ed with 2012.) 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 (Our consolidated net income attributable to common shareholders for the year ended December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (2013 was $406 million, compared with net income of $382 million for the prior year) Tj ET Q q 0 0 0 rg BT 438.19 644.45 Td (. ) Tj ET Q q 0 0 0 rg BT 446.61 644.45 Td (The results reflect an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td (increase of approximately $21 million for the regulated electricity segment, primarily due to increases related ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (to the retail regulatory settlement ef) Tj ET Q q 0 0 0 rg BT 213.75 616.85 Td (fective July1, 2012 \(see Note 3\); higher retail transmission revenues; and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (lower net interest char) Tj ET Q q 0 0 0 rg BT 151.79 603.05 Td (ges due to lower debt balances and lower interest rates in the current-year period. ) Tj ET Q q 0 0 0 rg BT 530.94 603.05 Td (These ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (positive factors were partially of) Tj ET Q q 0 0 0 rg BT 198.74 589.25 Td (fset by higher operations and maintenance expenses; higher fuel and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td (purchased power costs, net of related deferrals; lower retail sales as a result of changes in customer usage ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td (related to ener) Tj ET Q q 0 0 0 rg BT 115.06 561.65 Td (gy ef) Tj ET Q q 0 0 0 rg BT 138.16 561.65 Td (ficiency) Tj ET Q q 0 0 0 rg BT 174.45 561.65 Td (, customer conservation and distributed generation, partially of) Tj ET Q q 0 0 0 rg BT 463.26 561.65 Td (fset by customer ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (growth; and higher depreciation and amortization expenses.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 528.05 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 49.50 514.25 Td (compared with the prior year:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 451.75 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 451.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 451.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 451.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 451.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 451.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 419.75 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 419.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 419.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 419.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 419.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 419.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 387.75 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 387.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 387.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 387.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 387.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 387.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 355.75 309.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 355.75 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 355.75 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 355.75 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 355.75 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 355.75 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 312.75 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 312.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 312.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 312.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 312.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 312.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 280.75 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 280.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 280.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 280.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 280.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 280.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 237.75 309.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 237.75 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 237.75 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 237.75 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 237.75 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 237.75 65.00 -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 359 477.75 m 424 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 477.75 m 428 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 477.75 m 493 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 464.75 m 424 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 477.75 m 493 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 464.75 m 493 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 464.75 m 562 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 296.75 m 424 296.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 296.75 m 493 296.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 296.75 m 562 296.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 264.75 m 424 264.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 264.75 m 493 264.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 264.75 m 562 264.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 210.75 m 424 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 195.75 m 424 195.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 193.75 m 424 193.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 210.75 m 493 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 195.75 m 493 195.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 193.75 m 493 193.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 210.75 m 562 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 195.75 m 562 195.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 193.75 m 562 193.75 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 480.47 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 397.90 493.65 Td (Y) Tj ET Q q 0 0 0 rg BT 404.62 493.65 Td (ear) Tj ET Q q 0 0 0 rg BT 419.69 493.65 Td (Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 393.50 482.65 Td (December) Tj ET Q q 0 0 0 rg BT 440.94 482.65 Td (31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 529.00 482.65 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 467.47 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 380.00 467.80 Td (2013) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 449.00 467.80 Td (2012) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 501.30 467.80 Td (NetChange) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 454.47 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 414.15 454.80 Td (\(dollarsinmillions\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 441.28 Td (Regulated Electricity Segment:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.50 440.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.50 440.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 440.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 425.28 Td (Operating revenues less fuel and purchased power expenses) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 424.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 393.75 424.78 Td (2,356) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 424.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.75 424.78 Td (2,299) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 424.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 424.78 Td (57) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 409.28 Td (Operations and maintenance) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 408.83 Td (\(925) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 408.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 408.83 Td (\(885) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 408.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 408.83 Td (\(40) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 408.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 393.28 Td (Depreciation and amortization) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 392.83 Td (\(416) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 392.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 392.83 Td (\(404) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 392.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 392.83 Td (\(12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 392.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 377.28 Td (Taxes other than income taxes) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 376.83 Td (\(164) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 376.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 376.83 Td (\(159) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 376.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 376.83 Td (\(5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 376.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 361.28 Td (Other income \(expenses\), net) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 360.78 Td (11) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 482.90 360.78 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 360.78 Td (5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 345.28 Td (Interest charges, net of allowance for borrowed funds used during) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 333.78 Td (construction) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 333.83 Td (\(187) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 333.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 333.83 Td (\(200) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 333.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 333.78 Td (13) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 318.28 Td (Income taxes) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 317.83 Td (\(232) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 317.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 317.83 Td (\(237) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 317.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 317.78 Td (5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 302.28 Td (Less income related to noncontrolling interests \(Note 18\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.30 301.83 Td (\(34) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 301.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.30 301.83 Td (\(32) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 301.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 301.83 Td (\(2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 301.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 286.28 Td (Regulated electricity segment net income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.40 285.78 Td (409) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 285.78 Td (388) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 285.78 Td (21) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 270.28 Td (All other) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.05 269.83 Td (\(3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 269.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 269.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 269.83 Td (\(3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 269.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 254.28 Td (Income from Continuing Operations Attributable to Common) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 242.78 Td (Shareholders) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.40 242.78 Td (406) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 242.78 Td (388) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 242.78 Td (18) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 227.28 Td (Loss from Discontinued Operations Attributable to Common) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 215.78 Td (Shareholders \(a\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 215.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.05 215.83 Td (\(6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 215.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 215.78 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 200.28 Td (Net Income Attributable to Common Shareholders) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 199.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.40 199.78 Td (406) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 199.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 199.78 Td (382) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 199.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 199.78 Td (24) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 167.65 Td (\(a\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 101.14 167.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 125.14 167.65 Td ( Includes activities related to SunCor) Tj ET Q q 0 0 0 rg BT 294.73 167.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 153.85 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 121 0 obj <>] /Rotate 0 /Contents 122 0 R>> endobj 122 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (57) 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 /F2 11.50 Tf ET q 0 0 0 rg BT 369.49 741.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 375.24 741.25 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 $57 million higher for the year ended December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.65 Td (2013 compared with the prior year) Tj ET Q q 0 0 0 rg BT 208.22 713.65 Td (. ) Tj ET Q q 0 0 0 rg BT 216.64 713.65 Td (The following table summarizes the major components of this change:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 625.15 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 625.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 625.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 625.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 625.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 625.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 582.15 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 582.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 582.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 582.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 582.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 582.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 539.15 309.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 539.15 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 539.15 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 539.15 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 539.15 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 539.15 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 496.15 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 496.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 496.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 496.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 496.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 496.15 65.00 -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 359 688.15 m 424 688.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 688.15 m 428 688.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 688.15 m 493 688.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 688.15 m 497 688.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 688.15 m 562 688.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 640.15 m 424 640.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 640.15 m 493 640.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 640.15 m 562 640.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 496.15 m 424 496.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 496.15 m 493 496.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 496.15 m 424 496.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 482.15 m 424 482.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 480.15 m 424 480.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 496.15 m 493 496.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 482.15 m 493 482.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 480.15 m 493 480.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 496.15 m 562 496.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 482.15 m 562 482.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 480.15 m 562 480.15 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 690.87 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 414.20 693.05 Td (Increase\(Decrease\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 642.87 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 366.85 656.05 Td (Operating) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 370.30 645.05 Td (r) Tj ET Q q 0 0 0 rg BT 374.98 645.05 Td (evenues) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 439.35 678.05 Td (Fueland) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 435.65 667.05 Td (pur) Tj ET Q q 0 0 0 rg BT 452.57 667.05 Td (chased) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 445.40 656.05 Td (power) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 439.50 645.05 Td (expenses) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 502.85 645.05 Td (Netchange) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 627.87 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 414.15 630.05 Td (\(dollarsinmillions\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 614.68 Td (Impacts of retail regulatory settlement effective July1, 2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 614.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 614.18 Td (64) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 614.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 482.90 614.18 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 614.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 614.18 Td (58) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 598.68 Td (Higher demand-side management, renewable energy and similar) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 587.18 Td (regulatory surcharges) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 587.18 Td (34) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 482.90 587.18 Td (7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 587.18 Td (27) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 571.68 Td (Higher retail transmission revenues) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 571.18 Td (11) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 571.18 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 571.18 Td (11) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 555.68 Td (Lower retail sales due to changes in customer usage patterns and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 544.18 Td (related pricing, partially offset by customer growth) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.30 544.23 Td (\(17) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 544.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.05 544.23 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 544.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 544.23 Td (\(13) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 544.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 528.68 Td (Higher fuel and purchased power costs, net of related deferrals) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 517.18 Td (and off-system sales) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 517.18 Td (74) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 517.18 Td (95) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 517.23 Td (\(21) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 517.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 501.68 Td (Miscellaneous items, net) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.05 501.23 Td (\(8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 501.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.05 501.23 Td (\(3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 501.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 501.23 Td (\(5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 501.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 485.68 Td (Total) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 485.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.40 485.68 Td (158) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 485.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 485.68 Td (101) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 485.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 485.68 Td (57) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 467.85 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 440.25 Td (Operations and maintenance) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 222.88 440.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 225.76 440.25 Td ( Operations and maintenance expenses increased $40 million for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 426.45 Td (year ended December31, 2013 compared with the prior year primarily because of:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 403.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 403.65 Td (An increase of $14 million related to technical analysis, consulting, advertising and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 389.85 Td (communications costs;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 367.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 367.05 Td (An increase of $13 million related to costs for demand-side management, renewable ener) Tj ET Q q 0 0 0 rg BT 531.64 367.05 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 353.25 Td (and similar regulatory programs, which were lar) Tj ET Q q 0 0 0 rg BT 343.23 353.25 Td (gely of) Tj ET Q q 0 0 0 rg BT 375.28 353.25 Td (fset in operating revenues;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 330.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 330.45 Td (An increase of $9 million related to the closure of Four Corners Units 1, 2, and 3, deferred for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 316.65 Td (regulatory recovery in depreciation;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 293.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 293.85 Td (An increase of $6 million in ener) Tj ET Q q 0 0 0 rg BT 273.31 293.85 Td (gy delivery and customer service costs;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 271.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 271.05 Td (An increase of $6 million in information technology costs;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 248.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 248.25 Td (A) Tj ET Q q 0 0 0 rg BT 129.17 248.25 Td ( decrease of $6 million in generation costs primarily related to lower fossil generation outage ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 234.45 Td (costs and lower nuclear generation costs; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 211.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 211.65 Td (A) Tj ET Q q 0 0 0 rg BT 129.17 211.65 Td ( decrease of $2 million related to other miscellaneous factors.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 191.65 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 177.85 Td (Depreciation and amortization) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 230.55 177.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 236.30 177.85 Td ( Depreciation and amortization expenses were $12 million higher for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 164.05 Td (the year ended December31, 2013 compared with the prior year) Tj ET Q q 0 0 0 rg BT 345.69 164.05 Td (, primarily because of increased plant in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 150.25 Td (service, partially of) Tj ET Q q 0 0 0 rg BT 138.38 150.25 Td (fset by the regulatory deferral of operating expenses associated with the closure of Four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 136.45 Td (Corners Units 1, 2, and 3.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 122.65 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 108.85 Td (Interest charges, net of allowance for borrowed funds used during construction) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 461.55 108.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.42 108.85 Td ( Interest char) Tj ET Q q 0 0 0 rg BT 527.11 108.85 Td (ges, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 95.05 Td (net of allowance for borrowed funds used during construction, decreased $13 million for the year ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 81.25 Td (December31, 2013 compared with the prior year) Tj ET Q q 0 0 0 rg BT 275.76 81.25 Td (, primarily because of lower debt balances and lower interest ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 67.45 Td (rates in the current year) Tj ET Q q 0 0 0 rg BT 157.42 67.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 53.65 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 123 0 obj <>] /Rotate 0 /Contents 124 0 R>> endobj 124 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (58) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 741.25 Td (Income taxes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 151.30 741.25 Td ( Income taxes were $5 million lower for the year ended December31, 2013 compared ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.45 Td (with the prior year primarily due to a lower ef) Tj ET Q q 0 0 0 rg BT 260.37 727.45 Td (fective tax rate in the current period, partially of) Tj ET Q q 0 0 0 rg BT 481.45 727.45 Td (fset by the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.65 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 713.65 Td (fects of higher pretax income in the current year) Tj ET Q q 0 0 0 rg BT 279.19 713.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 699.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 197.90 672.25 Td (LIQUIDITY) Tj ET Q q 0 0 0 rg BT 260.10 672.25 Td ( ) Tj ET Q q 0 0 0 rg BT 262.34 672.25 Td (AND CAPIT) Tj ET Q q 0 0 0 rg BT 325.06 672.25 Td (AL) Tj ET Q q 0 0 0 rg BT 340.40 672.25 Td ( RESOURCES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.75 658.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 644.65 Td (Overview) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 617.05 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 617.05 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 617.05 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 617.05 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 49.50 603.25 Td (payments on our indebtedness. ) Tj ET Q q 0 0 0 rg BT 196.85 603.25 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 49.50 589.45 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 49.50 575.65 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 85.50 561.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 548.05 Td (Our primary sources of cash are dividends from ) Tj ET Q q 0 0 0 rg BT 307.77 548.05 Td (APS and external debt and equity issuances. ) Tj ET Q q 0 0 0 rg BT 516.33 548.05 Td (An ) Tj ET Q q 0 0 0 rg BT 532.63 548.05 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.25 Td (order requires ) Tj ET Q q 0 0 0 rg BT 115.92 534.25 Td (APS to maintain a common equity ratio of at least 40%. ) Tj ET Q q 0 0 0 rg BT 378.15 534.25 Td (As defined in the related ) Tj ET Q q 0 0 0 rg BT 493.43 534.25 Td (ACC order) Tj ET Q q 0 0 0 rg BT 543.75 534.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.45 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 49.50 506.65 Td (and long-term debt, including current maturities of long-term debt. ) Tj ET Q q 0 0 0 rg BT 361.84 506.65 Td (At December31, 2014, ) Tj ET Q q 0 0 0 rg BT 471.71 506.65 Td (APS) Tj ET Q q 0 0 0 rg BT 496.00 506.65 Td (s common ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.85 Td (equity ratio, as defined, was 56%. Its total shareholder equity was approximately $4.5 billion, and total ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 479.05 Td (capitalization was approximately $8.0 billion. Under this order) Tj ET Q q 0 0 0 rg BT 340.94 479.05 Td (, ) Tj ET Q q 0 0 0 rg BT 346.06 479.05 Td (APS would be prohibited from paying ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.25 Td (dividends if such payment would reduce its total shareholder equity below approximately $3.2 billion, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.45 Td (assuming ) Tj ET Q q 0 0 0 rg BT 95.19 451.45 Td (APS) Tj ET Q q 0 0 0 rg BT 119.48 451.45 Td (s total capitalization remains the same. ) Tj ET Q q 0 0 0 rg BT 303.22 451.45 Td (This restriction does not materially af) Tj ET Q q 0 0 0 rg BT 475.78 451.45 Td (fect Pinnacle ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.65 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 437.65 Td (est) Tj ET Q q 0 0 0 rg BT 75.40 437.65 Td (s ability to meet its 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 85.50 423.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 410.05 Td (APS) Tj ET Q q 0 0 0 rg BT 109.79 410.05 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 49.50 396.25 Td (APS funds its capital requirements with cash from operations and, to the extent necessary) Tj ET Q q 0 0 0 rg BT 460.74 396.25 Td (, external debt ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.45 Td (financing and equity infusions from Pinnacle ) Tj ET Q q 0 0 0 rg BT 259.45 382.45 Td (W) Tj ET Q q 0 0 0 rg BT 269.38 382.45 Td (est.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 362.65 Td (Summary of Cash Flows) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 335.05 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 49.50 321.25 Td (activities for the years ended December31, 2014, 2013 and 2012 \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 307.45 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 49.5 292.117041015625 m 178.04248046875 292.117041015625 l s q 0 0 0 rg BT 49.50 293.65 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 293.65 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 293.65 Td (est Consolidated) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 268.15 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 268.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 268.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 268.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 268.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 268.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 236.15 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 236.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 236.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 236.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 236.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 236.15 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 359 268.15 m 424 268.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 268.15 m 493 268.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 268.15 m 562 268.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 268.15 m 424 268.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 268.15 m 493 268.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 268.15 m 562 268.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 220.14999999999998 m 424 220.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 220.14999999999998 m 493 220.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 220.14999999999998 m 562 220.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 220.14999999999998 m 424 220.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 205.14999999999998 m 424 205.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 203.14999999999998 m 424 203.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 220.14999999999998 m 493 220.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 205.14999999999998 m 493 205.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 203.14999999999998 m 493 203.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 220.14999999999998 m 562 220.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 205.14999999999998 m 562 205.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 203.14999999999998 m 562 203.14999999999998 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 270.87 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 380.00 273.05 Td (2014) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 449.00 273.05 Td (2013) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 518.00 273.05 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 257.68 Td (Net cash flow provided by operating activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 257.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 393.75 257.18 Td (1,100) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 257.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.75 257.18 Td (1,153) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 257.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.75 257.18 Td (1,171) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 241.68 Td (Net cash flow used for investing activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 241.23 Td (\(923) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 241.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 458.90 241.18 Td (\(1,009) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 241.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 536.55 241.23 Td (\(873) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 241.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 225.68 Td (Net cash flow used for financing activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 225.23 Td (\(179) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 225.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 225.23 Td (\(161) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 225.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 536.55 225.23 Td (\(305) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 225.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 209.68 Td (Net decrease in cash and cash equivalents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 209.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.05 209.23 Td (\(2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 209.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 209.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.30 209.23 Td (\(17) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 209.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 209.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 209.23 Td (\(7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 209.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 190.85 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 49.5 175.51704101562495 m 203.759765625 175.51704101562495 l s q 0 0 0 rg BT 49.50 177.05 Td (Arizona Public Service Company) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 154.55 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 154.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 154.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 154.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 154.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 154.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 122.55 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 122.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 122.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 122.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 122.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 122.55 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 359 154.54999999999995 m 424 154.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 154.54999999999995 m 493 154.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 154.54999999999995 m 562 154.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 154.54999999999995 m 424 154.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 154.54999999999995 m 493 154.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 154.54999999999995 m 562 154.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 106.54999999999995 m 424 106.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 106.54999999999995 m 493 106.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 106.54999999999995 m 562 106.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 106.54999999999995 m 424 106.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 91.54999999999995 m 424 91.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 89.54999999999995 m 424 89.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 106.54999999999995 m 493 106.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 91.54999999999995 m 493 91.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 89.54999999999995 m 493 89.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 106.54999999999995 m 562 106.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 91.54999999999995 m 562 91.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 89.54999999999995 m 562 89.54999999999995 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 157.27 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 380.00 156.65 Td (2014) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 449.00 156.65 Td (2013) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 518.00 156.65 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 144.08 Td (Net cash flow provided by operating activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 143.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 393.75 143.58 Td (1,124) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 143.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.75 143.58 Td (1,194) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 143.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.75 143.58 Td (1,176) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 128.08 Td (Net cash flow used for investing activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 127.63 Td (\(922) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 127.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 458.90 127.58 Td (\(1,009) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 127.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 536.55 127.63 Td (\(873) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 127.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 112.08 Td (Net cash flow used for financing activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 111.63 Td (\(201) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 111.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 111.63 Td (\(185) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 111.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 536.55 111.63 Td (\(319) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 111.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 96.08 Td (Net increase \(decrease\) in cash and cash equivalents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 95.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 413.90 95.58 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 95.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 95.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 95.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 95.63 Td (\(16) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 95.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 125 0 obj <>] /Rotate 0 /Contents 126 0 R>> endobj 126 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (59) 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 (2014 Compared with 2013. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 218.40 713.65 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 260.67 713.65 Td (W) Tj ET Q q 0 0 0 rg BT 270.60 713.65 Td (est) Tj ET Q q 0 0 0 rg BT 286.57 713.65 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 49.50 699.85 Td ($1,100 million in 2014 compared to $1,153 million in 2013, a decrease of $53 million in net cash provided. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 686.05 Td (The decrease is primarily related to $99 million in higher fuel and purchased power costs, a $39 million ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.25 Td (increase in cash collateral posted, $34 million of higher pension contributions in 2014, and other changes in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.45 Td (working capital. ) Tj ET Q q 0 0 0 rg BT 129.77 658.45 Td (The decrease is partially of) Tj ET Q q 0 0 0 rg BT 254.09 658.45 Td (fset by a $121 million increase in income tax refunds net of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.65 Td (payments \(primarily related to a $135 million income tax refund received in the first quarter of 2014\). ) Tj ET Q q 0 0 0 rg BT 523.10 644.65 Td (APS's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 631.45 Td (operating cash flows included income tax refunds of approximately $86 million in 2014 compared with payments of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 618.25 Td ($8 million in 2013.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 590.65 Td (2013 Compared with 2012.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 212.65 590.65 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 260.67 590.65 Td (W) Tj ET Q q 0 0 0 rg BT 270.60 590.65 Td (est) Tj ET Q q 0 0 0 rg BT 286.57 590.65 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 49.50 576.85 Td ($1,153 million in 2013, compared to $1,171 million in 2012, a decrease of $18 million in net cash provided. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 563.05 Td (The decrease is primarily related to a $127 million change in cash collateral posted and $76 million of higher ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 549.25 Td (pension contributions made in 2013 compared to 2012 \(approximately $18 million of which is reflected in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 535.45 Td (capital expenditures\). ) Tj ET Q q 0 0 0 rg BT 154.03 535.45 Td (The decrease is partially of) Tj ET Q q 0 0 0 rg BT 278.35 535.45 Td (fset by approximately $167 million of higher cash inflows ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 521.65 Td (primarily due to higher authorized revenue requirements resulting from the retail regulatory settlement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 507.85 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 507.85 Td (fective July1, 2012 and other changes in working capital.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 480.25 Td (Other) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 112.98 480.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 115.85 480.25 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 163.87 480.25 Td (W) Tj ET Q q 0 0 0 rg BT 173.80 480.25 Td (est sponsors a qualified defined benefit pension plan and a non-qualified ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 466.45 Td (supplemental excess benefit retirement plan for the employees of Pinnacle ) Tj ET Q q 0 0 0 rg BT 394.18 466.45 Td (W) Tj ET Q q 0 0 0 rg BT 404.11 466.45 Td (est and our subsidiaries. ) Tj ET Q q 0 0 0 rg BT 520.17 466.45 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 452.65 Td (requirements of the Employee Retirement Income Security ) Tj ET Q q 0 0 0 rg BT 323.18 452.65 Td (Act of 1974 \(ERISA\) require us to contribute a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 438.85 Td (minimum amount to the qualified plan. ) Tj ET Q q 0 0 0 rg BT 235.18 438.85 Td (W) Tj ET Q q 0 0 0 rg BT 245.12 438.85 Td (e contribute at least the minimum amount required under ERISA) Tj ET Q q 0 0 0 rg BT 542.46 438.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 425.05 Td (regulations, but no more than the maximum tax-deductible amount. ) Tj ET Q q 0 0 0 rg BT 365.48 425.05 Td (The minimum required funding takes into ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 411.25 Td (consideration the value of plan assets and our pension benefit obligations. Under ERISA, the qualified pension ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 397.45 Td (plan was 1) Tj ET Q q 0 0 0 rg BT 98.26 397.45 Td (18% funded as of January1, 2014 and is estimated to be approximately 1) Tj ET Q q 0 0 0 rg BT 435.09 397.45 Td (18% funded as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 383.65 Td (January1, 2015. Under GAAP) Tj ET Q q 0 0 0 rg BT 192.92 383.65 Td (, the qualified pension plan was 90% funded as of January1, 2014 and is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 369.85 Td (estimated to be approximately 90% funded as of January1, 2015. ) Tj ET Q q 0 0 0 rg BT 356.52 369.85 Td (The assets in the plan are comprised of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 356.05 Td (fixed-income, equity) Tj ET Q q 0 0 0 rg BT 144.56 356.05 Td (, real estate, and short-term investments. Future year contribution amounts are dependent ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 342.25 Td (on plan asset performance and plan actuarial assumptions. ) Tj ET Q q 0 0 0 rg BT 322.65 342.25 Td (W) Tj ET Q q 0 0 0 rg BT 332.59 342.25 Td (e made contributions to our pension plan totaling ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 328.45 Td ($175 million in 2014, $141 million in 2013, and $65 million in 2012. ) Tj ET Q q 0 0 0 rg BT 373.54 328.45 Td (The minimum contributions for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 314.65 Td (pension plan are zero for the next three years. ) Tj ET Q q 0 0 0 rg BT 264.83 314.65 Td (W) Tj ET Q q 0 0 0 rg BT 274.76 314.65 Td (e expect to make voluntary contributions totaling up to $300 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 300.85 Td (million for the next three years \(up to $100 million each year in 2015, 2016, and 2017\). ) Tj ET Q q 0 0 0 rg BT 457.13 300.85 Td (W) Tj ET Q q 0 0 0 rg BT 467.53 300.85 Td (ith regard to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 287.05 Td (contributions to our other postretirement benefit plans, we made a contribution of approximately $1 million in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 273.25 Td (2014, $14 million in 2013, and $23 million in 2012. ) Tj ET Q q 0 0 0 rg BT 293.99 273.25 Td (W) Tj ET Q q 0 0 0 rg BT 303.92 273.25 Td (e expect to make contributions of approximately $1 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 259.45 Td (million in each of 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 85.50 231.85 Td (Included in the current income tax receivable on the Consolidated Balance Sheets as of December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 218.05 Td (2013 was $133 million that represented the anticipated IRS refund related to the finalized examinations of tax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 204.25 Td (years ended December 31, 2008 and 2009. Cash related to this refund was received in the first quarter of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 190.45 Td (2014.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 162.85 Td (Investing Cash Flows) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 149.05 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 135.25 Td (2014 Compared with 2013. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 218.40 135.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 260.67 135.25 Td (W) Tj ET Q q 0 0 0 rg BT 270.60 135.25 Td (est) Tj ET Q q 0 0 0 rg BT 286.57 135.25 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 49.50 121.45 Td ($923 million in 2014, compared to $1,009 million in 2013, a decrease of $86 million in net cash used. ) Tj ET Q q 0 0 0 rg BT 523.92 121.45 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 107.65 Td (decrease in net cash used for investing activities is primarily related to ) Tj ET Q q 0 0 0 rg BT 375.24 107.65 Td (APS's purchase of SCE) Tj ET Q q 0 0 0 rg BT 486.24 107.65 Td (s interest in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 93.85 Td (Units 4 and 5 of Four Corners of approximately $209 million in 2013, partially of) Tj ET Q q 0 0 0 rg BT 425.23 93.85 Td (fset by an increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 80.05 Td (approximately $123 million in other capital expenditures.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 127 0 obj <>] /Rotate 0 /Contents 128 0 R>> endobj 128 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (60) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 741.25 Td (2013 Compared with 2012.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 212.65 741.25 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 260.67 741.25 Td (W) Tj ET Q q 0 0 0 rg BT 270.60 741.25 Td (est) Tj ET Q q 0 0 0 rg BT 286.57 741.25 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 49.50 727.45 Td ($1,009 million in 2013, compared to $873 million in 2012, an increase of $136 million in net cash used. ) Tj ET Q q 0 0 0 rg BT 533.51 727.45 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.65 Td (increase in net cash used for investing activities is primarily related to ) Tj ET Q q 0 0 0 rg BT 373.33 713.65 Td (APS) Tj ET Q q 0 0 0 rg BT 397.62 713.65 Td (s purchase of SCE) Tj ET Q q 0 0 0 rg BT 485.46 713.65 Td (s interest in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.85 Td (Units 4 and 5 of Four Corners of approximately $209 million, partially of) Tj ET Q q 0 0 0 rg BT 387.54 699.85 Td (fset by a decrease of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 686.05 Td ($73 million in other capital expenditures.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 672.25 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 644.65 Td (Capital Expenditures.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 189.02 644.65 Td ( ) Tj ET Q q 0 0 0 rg BT 194.56 644.65 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 49.50 630.85 Td (three years:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 617.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 253.25 603.25 Td (Capital Expenditur) Tj ET Q q 0 0 0 rg BT 348.58 603.25 Td (es) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 260.05 589.45 Td (\(dollars in millions\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 537.95 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 537.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 537.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 537.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 537.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 537.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 505.95 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 505.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 505.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 505.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 505.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 505.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 473.95 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 473.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 473.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 473.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 473.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 473.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 441.95 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 441.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 441.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 441.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 441.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 441.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 409.95 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 409.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 409.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 409.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 409.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 409.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 377.95 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 377.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 377.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 377.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 377.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 377.95 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 359 552.95 m 424 552.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 552.95 m 428 552.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 552.95 m 493 552.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 552.95 m 497 552.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 552.95 m 562 552.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 552.95 m 424 552.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 537.95 m 424 537.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 552.95 m 428 552.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 552.95 m 493 552.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 537.95 m 493 537.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 552.95 m 562 552.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 537.95 m 562 537.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 377.95 m 424 377.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 377.95 m 493 377.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 377.95 m 562 377.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 377.95 m 424 377.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 362.95 m 424 362.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 360.95 m 424 360.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 377.95 m 493 377.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 362.95 m 493 362.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 360.95 m 493 360.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 377.95 m 562 377.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 362.95 m 562 362.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 360.95 m 562 360.95 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 390.40 568.85 Td (Estimatedfor) Tj ET Q q 0 0 0 rg BT 454.66 568.85 Td (the) Tj ET Q q 0 0 0 rg BT 474.41 568.85 Td (Y) Tj ET Q q 0 0 0 rg BT 481.14 568.85 Td (ear) Tj ET Q q 0 0 0 rg BT 496.21 568.85 Td (Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 428.00 557.85 Td (December) Tj ET Q q 0 0 0 rg BT 475.44 557.85 Td (31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 540.67 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 380.00 542.85 Td (2015) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 449.00 542.85 Td (2016) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 518.00 542.85 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 527.48 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.50 526.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.50 526.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 526.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 511.48 Td (Generation:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.50 510.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.50 510.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 510.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 495.48 Td (Nuclear Fuel) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 494.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 494.98 Td (78) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 494.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 494.98 Td (87) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 494.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 494.98 Td (79) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 479.48 Td (Renewables) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 478.98 Td (86) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 482.90 478.98 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 478.98 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 463.48 Td (Environmental) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 462.98 Td (36) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 462.98 Td (162) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.40 462.98 Td (161) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 447.48 Td (New Gas Generation) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 446.98 Td (96) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 446.98 Td (235) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.40 446.98 Td (190) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 431.48 Td (Other Generation) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.40 430.98 Td (180) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 430.98 Td (204) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.40 430.98 Td (198) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 415.48 Td (Distribution) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.40 414.98 Td (329) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 414.98 Td (362) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.40 414.98 Td (385) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 399.48 Td (Transmission) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.40 398.98 Td (203) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 398.98 Td (133) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.40 398.98 Td (180) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 383.48 Td (Other \(a\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 382.98 Td (83) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 382.98 Td (81) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 382.98 Td (98) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 367.48 Td (Total APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 366.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 393.75 366.98 Td (1,091) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 366.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.75 366.98 Td (1,265) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 366.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.75 366.98 Td (1,293) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 328.85 Td (\(a\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 101.14 328.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 107.14 328.85 Td ( Primarily information systems and facilities projects.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 315.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 301.25 Td (Generation capital expenditures are comprised of various improvements to ) Tj ET Q q 0 0 0 rg BT 431.36 301.25 Td (APS) Tj ET Q q 0 0 0 rg BT 455.65 301.25 Td (s existing fossil and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 287.45 Td (nuclear plants. Examples of the types of projects included in this category are additions, upgrades and capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 273.65 Td (replacements of various power plant equipment, such as turbines, boilers and environmental equipment. ) Tj ET Q q 0 0 0 rg BT 533.13 273.65 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 259.85 Td (estimated Renewables expenditures include 20 MW) Tj ET Q q 0 0 0 rg BT 288.49 259.85 Td ( of utility-scale solar projects which were approved by the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 246.05 Td (ACC in the 2014 RES Implementation Plan and the residential rooftop solar program. ) Tj ET Q q 0 0 0 rg BT 450.13 246.05 Td (W) Tj ET Q q 0 0 0 rg BT 460.07 246.05 Td (e have not included ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 232.25 Td (estimated costs for Cholla) Tj ET Q q 0 0 0 rg BT 172.47 232.25 Td (s compliance with MA) Tj ET Q q 0 0 0 rg BT 276.27 232.25 Td (TS or EP) Tj ET Q q 0 0 0 rg BT 317.39 232.25 Td (A) Tj ET Q q 0 0 0 rg BT 324.42 232.25 Td () Tj ET Q q 0 0 0 rg BT 327.61 232.25 Td (s regional haze rulesince we have challenged the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 218.45 Td (regional haze rulejudicially and we have proposed a compromise strategy to EP) Tj ET Q q 0 0 0 rg BT 417.61 218.45 Td (A, which, if approved, would ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 204.65 Td (allow us to avoid expenditures related to environmental control equipment. ) Tj ET Q q 0 0 0 rg BT 400.60 204.65 Td (The portion of estimated costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 190.85 Td (through 2017 for installation of pollution control equipment needed to ensure Four Corners) Tj ET Q q 0 0 0 rg BT 472.16 190.85 Td ( compliance with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 177.05 Td (EP) Tj ET Q q 0 0 0 rg BT 61.87 177.05 Td (A) Tj ET Q q 0 0 0 rg BT 68.90 177.05 Td () Tj ET Q q 0 0 0 rg BT 72.09 177.05 Td (s regional haze ruleshave been included in the table above. ) Tj ET Q q 0 0 0 rg BT 350.65 177.05 Td (The portion of estimated costs through 2017 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 163.25 Td (for incremental costs to comply with the CCR rule for Four Corners and Cholla have also been included in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 149.45 Td (table above. ) Tj ET Q q 0 0 0 rg BT 110.60 149.45 Td (The table does not include capital expenditures related to El Paso's 7% interest in Four Corners ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 135.65 Td (Units 4 and 5 of $24 million in 2016 and $23 million in 2017. ) Tj ET Q q 0 0 0 rg BT 339.35 135.65 Td (The consummation of the purchase of El Paso's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 121.85 Td (interest in Four Corners is not expected to take place until 2016, thus, there are no related capital expenditures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 108.05 Td (in 2015. ) Tj ET Q q 0 0 0 rg BT 92.74 108.05 Td (W) Tj ET Q q 0 0 0 rg BT 102.67 108.05 Td (e are monitoring the status of other environmental matters, which, depending on their final ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 94.25 Td (outcome, could require modification to our planned environmental expenditures.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 420.59 94.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 80.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 66.65 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 52.85 Td (upgrades, capital replacements, and new customer construction. Examples of the types of projects included in ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 129 0 obj <>] /Rotate 0 /Contents 130 0 R>> endobj 130 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (61) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 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 49.50 727.25 Td (developments.) 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 85.50 699.65 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 49.50 685.85 Td (include issuances of long-term debt and Pinnacle ) Tj ET Q q 0 0 0 rg BT 277.64 685.85 Td (W) Tj ET Q q 0 0 0 rg BT 287.57 685.85 Td (est common stock.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 672.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (Financing Cash Flows and Liquidity) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 630.65 Td (2014 Compared with 2013. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.53 630.65 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 260.67 630.65 Td (W) Tj ET Q q 0 0 0 rg BT 270.60 630.65 Td (est) Tj ET Q q 0 0 0 rg BT 286.57 630.65 Td (s consolidated net cash used for financing activities was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td ($179 million in 2014, compared to $161 million in 2013, an increase of $18 million in net cash used. ) Tj ET Q q 0 0 0 rg BT 519.13 616.85 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (increase in net cash used for financing activities is primarily due to $530 million in higher repayments of long-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (term debt, a $67 million net reduction in funds received through short-term borrowings, and $1) Tj ET Q q 0 0 0 rg BT 486.62 589.25 Td (1 million in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td (higher dividend payments, partially of) Tj ET Q q 0 0 0 rg BT 225.27 575.45 Td (fset by $595 million in higher issuances of long-term debt \(see below\).) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 547.85 Td (2013 Compared with 2012.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 212.65 547.85 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 260.67 547.85 Td (W) Tj ET Q q 0 0 0 rg BT 270.60 547.85 Td (est) Tj ET Q q 0 0 0 rg BT 286.57 547.85 Td (s consolidated net cash used for financing activities was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td ($161 million in 2013, compared to $305 million of net cash used in 2012, a decrease of $144 million in net ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (cash used. ) Tj ET Q q 0 0 0 rg BT 102.31 520.25 Td (The decrease in net cash used for financing activities is primarily due to $531 million in lower ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (repayments of long-term debt, lar) Tj ET Q q 0 0 0 rg BT 203.54 506.45 Td (gely of) Tj ET Q q 0 0 0 rg BT 235.58 506.45 Td (fset by $340 million in lower issuances of long-term debt and a $31 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (million net change in ) Tj ET Q q 0 0 0 rg BT 149.15 492.65 Td (APS) Tj ET Q q 0 0 0 rg BT 173.44 492.65 Td (s commercial paper borrowings, which is classified as short-term borrowings on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (Consolidated Balance Sheets. On December30, 2013, commercial paper issuances were used to fund the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.05 Td (acquisition of SCE) Tj ET Q q 0 0 0 rg BT 139.58 465.05 Td (s 48% ownership interest in each of Units 4 and 5 of Four Corners \(see below\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 451.25 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 437.45 Td (Significant Financing ) Tj ET Q q 0 0 0 rg BT 193.08 437.45 Td (Activities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 239.39 437.45 Td ( On December17, 2014, the Pinnacle ) Tj ET Q q 0 0 0 rg BT 417.39 437.45 Td (W) Tj ET Q q 0 0 0 rg BT 427.32 437.45 Td (est Board of Directors ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (declared a quarterly dividend of $0.595 per share of common stock, payable on March 2, 2015, to shareholders ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (of record on February2, 2015. During 2014, Pinnacle ) Tj ET Q q 0 0 0 rg BT 302.56 409.85 Td (W) Tj ET Q q 0 0 0 rg BT 312.49 409.85 Td (est increased its indicated annual dividend from $2.27 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (per share to $2.38 per share. For the year ended December31, 2014, Pinnacle ) Tj ET Q q 0 0 0 rg BT 412.38 396.05 Td (W) Tj ET Q q 0 0 0 rg BT 422.31 396.05 Td (est) Tj ET Q q 0 0 0 rg BT 438.28 396.05 Td (s total dividends paid per ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (share of common stock were $2.30 per share, which resulted in dividend payments of $247 million.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 354.65 Td (On July12, 2013, ) Tj ET Q q 0 0 0 rg BT 169.84 354.65 Td (APS purchased all $33 million of the Coconino County) Tj ET Q q 0 0 0 rg BT 424.00 354.65 Td (, ) Tj ET Q q 0 0 0 rg BT 429.11 354.65 Td (Arizona Pollution Control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.85 Td (Corporation Pollution Control Revenue Refunding Bonds, 1994 Series) Tj ET Q q 0 0 0 rg BT 376.92 340.85 Td (A, due 2029. On October1) Tj ET Q q 0 0 0 rg BT 504.25 340.85 Td (1, 2013, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.05 Td (APS purchased all $32 million of the City of Farmington, New Mexico Pollution Control Revenue Bonds, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.25 Td (1994 SeriesC, due 2024. On January15, 2014, both of these series of bonds were canceled and refinanced as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.45 Td (described below) Tj ET Q q 0 0 0 rg BT 123.80 299.45 Td (.) 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 85.50 271.85 Td (On January10, 2014, ) Tj ET Q q 0 0 0 rg BT 186.44 271.85 Td (APS issued $250 million of 4.70% unsecured senior notes that mature on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.05 Td (January15, 2044. ) Tj ET Q q 0 0 0 rg BT 136.81 258.05 Td (The proceeds from the sale were used to repay commercial paper which was used to fund ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.25 Td (the acquisition of SCE) Tj ET Q q 0 0 0 rg BT 156.51 244.25 Td (s 48% ownership interest in each of Units 4 and 5 of Four Corners and to replenish cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.45 Td (used in 2013 to re-acquire the two series of tax-exempt indebtedness listed above.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 216.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 202.85 Td (On May1, 2014, ) Tj ET Q q 0 0 0 rg BT 166.00 202.85 Td (APS purchased a total of $100 million of the Maricopa County) Tj ET Q q 0 0 0 rg BT 454.63 202.85 Td (, ) Tj ET Q q 0 0 0 rg BT 459.75 202.85 Td (Arizona, Pollution ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 189.05 Td (Control Corporation Pollution Control Revenue Refunding Bonds, 2009 Series) Tj ET Q q 0 0 0 rg BT 414.93 189.05 Td (A, D and E due 2029 in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 175.25 Td (connection with the mandatory tender provisions for this indebtedness. On May14, 2014, ) Tj ET Q q 0 0 0 rg BT 467.59 175.25 Td (APS remarketed all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.45 Td ($36 million of the 2009 Series) Tj ET Q q 0 0 0 rg BT 191.33 161.45 Td (A) Tj ET Q q 0 0 0 rg BT 199.00 161.45 Td ( Bonds, which are classified as long-term debt on our Consolidated Balance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.65 Td (Sheets at December 31, 2014. ) Tj ET Q q 0 0 0 rg BT 192.37 147.65 Td (W) Tj ET Q q 0 0 0 rg BT 202.30 147.65 Td (e expect to remarket or refinance all $64 million of the 2009 SeriesD Bonds ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 133.85 Td (and 2009 SeriesE Bonds within the next twelve months.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 120.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 106.25 Td (On May30, 2014, ) Tj ET Q q 0 0 0 rg BT 171.75 106.25 Td (APS purchased all $38 million of the Navajo County) Tj ET Q q 0 0 0 rg BT 414.40 106.25 Td (, ) Tj ET Q q 0 0 0 rg BT 419.51 106.25 Td (Arizona, Pollution Control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 92.45 Td (Corporation Pollution Control Revenue Refunding Bonds, 2009 Series) Tj ET Q q 0 0 0 rg BT 376.92 92.45 Td (A, due 2034, and on June1, 2014, ) Tj ET Q q 0 0 0 rg BT 536.63 92.45 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 78.65 Td (purchased a total of $64 million of the Navajo 2009 SeriesB Bonds and 2009 SeriesC Bonds, in each case, in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 64.85 Td (connection with the mandatory tender provisions for this indebtedness. On September 23, 2014, ) Tj ET Q q 0 0 0 rg BT 495.69 64.85 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 51.05 Td (remarketed all $38 million of the 2009 Series ) Tj ET Q q 0 0 0 rg BT 260.29 51.05 Td (A) Tj ET Q q 0 0 0 rg BT 267.96 51.05 Td ( Bonds, which are classified as current maturities of long-term ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 131 0 obj <>] /Rotate 0 /Contents 132 0 R>> endobj 132 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (62) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (debt on our Consolidated Balance Sheets at December 31, 2014. On October 1, 2014, ) Tj ET Q q 0 0 0 rg BT 447.76 741.05 Td (APS remarketed all $32 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (million of the 2009 Series C Bonds, which are classified as long-term debt on our Consolidated Balance Sheets ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (at December 31, 2014. ) Tj ET Q q 0 0 0 rg BT 159.47 713.45 Td (W) Tj ET Q q 0 0 0 rg BT 169.40 713.45 Td (e expect to remarket or refinance all $32 million of the 2009 Series B Bonds within ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td (the next twelve months.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 672.05 Td (On June1, 2014, ) Tj ET Q q 0 0 0 rg BT 166.00 672.05 Td (APS remarketed all $13 million of the Coconino County) Tj ET Q q 0 0 0 rg BT 425.26 672.05 Td (, ) Tj ET Q q 0 0 0 rg BT 430.37 672.05 Td (Arizona Pollution Control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (Corporation Pollution Control Revenue Refunding Bonds, 2009 Series) Tj ET Q q 0 0 0 rg BT 376.92 658.25 Td (A, due 2034. ) Tj ET Q q 0 0 0 rg BT 441.87 658.25 Td (These bonds are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (classified as long-term debt on our Consolidated Balance Sheets at December 31, 2014.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 616.85 Td (On June18, 2014, ) Tj ET Q q 0 0 0 rg BT 171.75 616.85 Td (APS issued $250 million of 3.35% unsecured senior notes that mature on June15, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (2024. ) Tj ET Q q 0 0 0 rg BT 80.92 603.05 Td (The net proceeds from the sale were used along with other funds to repay at maturity ) Tj ET Q q 0 0 0 rg BT 473.72 603.05 Td (APS) Tj ET Q q 0 0 0 rg BT 498.01 603.05 Td (s $300 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (million aggregate principal amount of 5.80% senior notes due June 30, 2014.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 561.65 Td (On December 31, 2014, Pinnacle ) Tj ET Q q 0 0 0 rg BT 240.82 561.65 Td (W) Tj ET Q q 0 0 0 rg BT 250.75 561.65 Td (est entered into a $125 million term loan facility that matures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (December 31, 2017. Pinnacle ) Tj ET Q q 0 0 0 rg BT 187.89 547.85 Td (W) Tj ET Q q 0 0 0 rg BT 197.82 547.85 Td (est used the proceeds to repay and refinance the term loan facility that would ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td (have matured in November 2015.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 506.45 Td (On January 12, 2015, ) Tj ET Q q 0 0 0 rg BT 186.44 506.45 Td (APS issued $250 million of 2.20% unsecured senior notes that mature on January ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (15, 2020. ) Tj ET Q q 0 0 0 rg BT 95.29 492.65 Td (The net proceeds from the sale were used to repay commercial paper borrowings and replenish cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (temporarily used to fund capital expenditures.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 451.25 Td (A) Tj ET Q q 0 0 0 rg BT 92.32 451.25 Td (vailable Credit Facilities) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 208.58 451.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.33 451.25 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 259.48 451.25 Td (W) Tj ET Q q 0 0 0 rg BT 269.41 451.25 Td (est and ) Tj ET Q q 0 0 0 rg BT 303.91 451.25 Td (APS maintain committed revolving credit facilities in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td (order to enhance liquidity and provide credit support for their commercial paper programs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 409.85 Td (On May9, 2014, Pinnacle ) Tj ET Q q 0 0 0 rg BT 208.90 409.85 Td (W) Tj ET Q q 0 0 0 rg BT 218.84 409.85 Td (est replaced its $200 million revolving credit facility that would have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (matured in November2016, with a new $200 million facility that matures in May2019. ) Tj ET Q q 0 0 0 rg BT 458.96 396.05 Td (At December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (2014, the facility was available to refinance indebtedness of the Company and for other general corporate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 Td (purposes, including credit support for its $200 million commercial paper program. Pinnacle ) Tj ET Q q 0 0 0 rg BT 476.30 368.45 Td (W) Tj ET Q q 0 0 0 rg BT 486.23 368.45 Td (est has the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.65 Td (option to increase the amount of the facility up to a maximum of $300 million upon the satisfaction of certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.85 Td (conditions and with the consent of the lenders. ) Tj ET Q q 0 0 0 rg BT 268.60 340.85 Td (At December31, 2014, Pinnacle ) Tj ET Q q 0 0 0 rg BT 421.37 340.85 Td (W) Tj ET Q q 0 0 0 rg BT 431.30 340.85 Td (est had no outstanding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.05 Td (borrowings under its credit facility) Tj ET Q q 0 0 0 rg BT 208.44 327.05 Td (, no letters of credit outstanding and no commercial paper borrowings.) 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 85.50 299.45 Td (On May9, 2014, ) Tj ET Q q 0 0 0 rg BT 166.00 299.45 Td (APS replaced its $500 million revolving credit facility that would have matured in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.65 Td (November2016, with a new $500 million facility that matures in May2019.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 271.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 258.05 Td (At December31, 2014, ) Tj ET Q q 0 0 0 rg BT 195.36 258.05 Td (APS had two credit facilities totaling $1 billion, including a $500 million credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.25 Td (facility that matures in ) Tj ET Q q 0 0 0 rg BT 155.53 244.25 Td (April2018 and the $500 million facility that matures in May2019 \(see above\). ) Tj ET Q q 0 0 0 rg BT 524.10 244.25 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.45 Td (may increase the amount of each facility up to a maximum of $700 million upon the satisfaction of certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.65 Td (conditions and with the consent of the lenders. ) Tj ET Q q 0 0 0 rg BT 268.60 216.65 Td (APS will use these facilities to refinance indebtedness and for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.85 Td (other general corporate purposes. Interest rates are based on ) Tj ET Q q 0 0 0 rg BT 330.18 202.85 Td (APS) Tj ET Q q 0 0 0 rg BT 354.47 202.85 Td (s senior unsecured debt credit ratings.) 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 85.50 175.25 Td (The facilities described above are available to support ) Tj ET Q q 0 0 0 rg BT 335.85 175.25 Td (APS) Tj ET Q q 0 0 0 rg BT 360.14 175.25 Td (s $250 million commercial paper program, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.45 Td (for bank borrowings or for issuances of letters of credit. ) Tj ET Q q 0 0 0 rg BT 311.38 161.45 Td (At December31, 2014, ) Tj ET Q q 0 0 0 rg BT 421.24 161.45 Td (APS had $147 million of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.65 Td (commercial paper borrowings and no outstanding borrowings or outstanding letters of credit under these credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 133.85 Td (facilities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 120.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 106.25 Td (See Financial ) Tj ET Q q 0 0 0 rg BT 155.12 106.25 Td (Assurances in Note 10 for a discussion of ) Tj ET Q q 0 0 0 rg BT 353.78 106.25 Td (APS) Tj ET Q q 0 0 0 rg BT 378.07 106.25 Td (s separate outstanding letters of credit.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 86.45 Td (Other Financing Matters.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 207.88 86.45 Td ( See Note 3 for information regarding the PSA) Tj ET Q q 0 0 0 rg BT 424.74 86.45 Td ( approved by the ) Tj ET Q q 0 0 0 rg BT 503.95 86.45 Td (ACC.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 66.65 Td (See Note 16 for information related to the change in our mar) Tj ET Q q 0 0 0 rg BT 366.95 66.65 Td (gin and collateral accounts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 52.85 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 133 0 obj <>] /Rotate 0 /Contents 134 0 R>> endobj 134 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (63) 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 this covenant. 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, this covenant requires 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 65%. ) Tj ET Q q 0 0 0 rg BT 195.75 672.25 Td (At December31, 2014, the ratio was approximately 46% for Pinnacle ) Tj ET Q q 0 0 0 rg BT 519.69 672.25 Td (W) Tj ET Q q 0 0 0 rg BT 529.63 672.25 Td (est and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.45 Td (45% 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 444.43 630.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.75 617.05 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 85.50 451.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 437.65 Td (See Note 6 for further discussions of liquidity matters.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 423.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 410.05 Td (Cr) Tj ET Q q 0 0 0 rg BT 62.70 410.05 Td (edit Ratings) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 382.45 Td (The ratings of securities of Pinnacle ) Tj ET Q q 0 0 0 rg BT 253.91 382.45 Td (W) Tj ET Q q 0 0 0 rg BT 263.85 382.45 Td (est and ) Tj ET Q q 0 0 0 rg BT 298.34 382.45 Td (APS as of February13, 2015 are shown below) Tj ET Q q 0 0 0 rg BT 511.91 382.45 Td (. ) Tj ET Q q 0 0 0 rg BT 520.33 382.45 Td (W) Tj ET Q q 0 0 0 rg BT 530.27 382.45 Td (e are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.65 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 49.50 354.85 Td (ability to access the markets for liquidity and long-term debt. ) Tj ET Q q 0 0 0 rg BT 336.09 354.85 Td (The ratings reflect the respective views of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 341.05 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 493.82 341.05 Td (There is no ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.25 Td (assurance that these ratings will continue for any given period of time. ) Tj ET Q q 0 0 0 rg BT 378.87 327.25 Td (The ratings may be revised or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.45 Td (withdrawn entirely by the rating agencies if, in their respective judgments, circumstances so warrant. ) Tj ET Q q 0 0 0 rg BT 518.95 313.45 Td (Any ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.65 Td (downward revision or withdrawal may adversely af) Tj ET Q q 0 0 0 rg BT 286.25 299.65 Td (fect the market price of Pinnacle ) Tj ET Q q 0 0 0 rg BT 438.67 299.65 Td (W) Tj ET Q q 0 0 0 rg BT 448.60 299.65 Td (est) Tj ET Q q 0 0 0 rg BT 464.57 299.65 Td (s or ) Tj ET Q q 0 0 0 rg BT 483.74 299.65 Td (APS) Tj ET Q q 0 0 0 rg BT 508.04 299.65 Td (s securities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.85 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 49.50 272.05 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 49.50 258.25 Td (policies, natural gas transportation, fuel supply) Tj ET Q q 0 0 0 rg BT 264.33 258.25 Td (, and other ener) Tj ET Q q 0 0 0 rg BT 335.65 258.25 Td (gy-related contracts. ) Tj ET Q q 0 0 0 rg BT 434.64 258.25 Td (At this time, we believe we ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.45 Td (have suf) Tj ET Q q 0 0 0 rg BT 87.93 244.45 Td (ficient available liquidity resources to respond to a downward revision to our credit ratings.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 135 0 obj <>] /Rotate 0 /Contents 136 0 R>> endobj 136 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (64) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 722.50 299.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 722.50 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 722.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 722.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 722.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 722.50 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 690.50 299.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 690.50 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 690.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 690.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 690.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 690.50 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 658.50 299.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 658.50 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 658.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 658.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 658.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 658.50 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 626.50 299.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 626.50 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 626.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 626.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 626.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 626.50 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 594.50 299.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 594.50 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 594.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 594.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 594.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 594.50 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 562.50 299.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 562.50 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 562.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 562.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 562.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 562.50 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 349 722.5 m 414 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 722.5 m 493 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 722.5 m 562 722.5 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 725.22 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 360.70 727.40 Td (Moodys) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 427.00 738.40 Td (Standard&) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 439.80 727.40 Td (Poor) Tj ET Q q 0 0 0 rg BT 462.60 727.40 Td () Tj ET Q q 0 0 0 rg BT 465.86 727.40 Td (s) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 516.75 727.40 Td (Fitch) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 52.50 712.21 Td (Pinnacle West) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 381.00 711.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 455.00 711.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 529.00 711.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 696.03 Td (Corporate credit rating) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.15 695.53 Td (Baa1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 448.90 695.53 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 514.25 695.53 Td (BBB+) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 680.03 Td (Commercial paper) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.00 679.53 Td (P-2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 446.05 679.53 Td (A-2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.90 679.53 Td (F2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 664.03 Td (Outlook) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.45 663.53 Td (Positive) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 440.60 663.53 Td (Stable) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 510.45 663.53 Td (Positive) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 647.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 381.00 647.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 455.00 647.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 529.00 647.53 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 52.50 632.21 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 381.00 631.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 455.00 631.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 529.00 631.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 616.03 Td (Corporate credit rating) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.95 615.53 Td (A3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 448.90 615.53 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 514.25 615.53 Td (BBB+) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 600.03 Td (Senior unsecured) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.95 599.53 Td (A3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 448.90 599.53 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.90 599.53 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 584.03 Td (Secured lease obligation bonds) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.95 583.53 Td (A3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 448.90 583.53 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.90 583.53 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 568.03 Td (Commercial paper) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.00 567.53 Td (P-2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 446.05 567.53 Td (A-2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.90 567.53 Td (F2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 552.03 Td (Outlook) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.45 551.53 Td (Positive) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 440.60 551.53 Td (Stable) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 510.45 551.53 Td (Positive) Tj ET Q BT /F1 11.50 Tf ET BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 524.20 Td (Off-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 140.85 524.20 Td (Arrangements) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 510.40 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 496.60 Td (See Note 18 for a discussion of the impacts on our financial statements of consolidating certain ) Tj ET Q q 0 0 0 rg BT 526.02 496.60 Td (VIEs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 482.80 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 469.00 Td (Contractual Obligations) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 455.20 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 441.40 Td (The following table summarizes Pinnacle ) Tj ET Q q 0 0 0 rg BT 279.15 441.40 Td (W) Tj ET Q q 0 0 0 rg BT 289.08 441.40 Td (est) Tj ET Q q 0 0 0 rg BT 305.05 441.40 Td (s consolidated contractual requirements as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 427.60 Td (December31, 2014 \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 391.10 171.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 391.10 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 391.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 391.10 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 391.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 391.10 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 391.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 391.10 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 391.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 391.10 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 348.10 171.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 348.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 348.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 348.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 348.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 348.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 348.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 348.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 348.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 348.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 305.10 171.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 305.10 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 305.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 305.10 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 305.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 305.10 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 305.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 305.10 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 305.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 305.10 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 251.10 171.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 251.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 251.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 251.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 251.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 251.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 251.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 251.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 251.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 251.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 219.10 171.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 219.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 219.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 219.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 219.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 219.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 219.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 219.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 219.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 219.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 176.10 171.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 176.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 176.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 176.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 176.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 176.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 176.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 176.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 176.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 176.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 144.10 171.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 144.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 144.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 144.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 144.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 144.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 144.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 144.10 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 144.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 144.10 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 221 391.1 m 286 391.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 391.1 m 355 391.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 391.1 m 424 391.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 391.1 m 493 391.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 391.1 m 562 391.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 332.1 m 286 332.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 332.1 m 355 332.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 332.1 m 424 332.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 332.1 m 493 332.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 332.1 m 562 332.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 305.1 m 286 305.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 305.1 m 355 305.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 305.1 m 424 305.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 305.1 m 493 305.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 305.1 m 562 305.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 144.10000000000002 m 286 144.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 144.10000000000002 m 355 144.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 144.10000000000002 m 424 144.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 144.10000000000002 m 493 144.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 144.10000000000002 m 286 144.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 129.10000000000002 m 286 129.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 127.10000000000002 m 286 127.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 144.10000000000002 m 355 144.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 129.10000000000002 m 355 129.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 127.10000000000002 m 355 127.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 144.10000000000002 m 424 144.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 129.10000000000002 m 424 129.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 127.10000000000002 m 424 127.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 144.10000000000002 m 493 144.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 129.10000000000002 m 493 129.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 127.10000000000002 m 493 127.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 144.10000000000002 m 562 144.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 129.10000000000002 m 562 129.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 127.10000000000002 m 562 127.10000000000002 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 393.82 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 242.00 396.00 Td (2015) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 309.15 407.00 Td (2016-) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 311.00 396.00 Td (2017) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 378.15 407.00 Td (2018-) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 380.00 396.00 Td (2019) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 434.85 396.00 Td (Thereafter) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 516.95 396.00 Td (Total) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 380.63 Td (Long-term debt payments,) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 369.13 Td (including interest: \(a\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 351.50 369.13 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.50 369.13 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.50 369.13 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 369.13 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 353.63 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 223.50 353.13 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 264.40 353.13 Td (551) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 292.50 353.13 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.40 353.13 Td (686) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 353.13 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.40 353.13 Td (788) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 353.13 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.75 353.13 Td (3,653) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 353.13 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.75 353.13 Td (5,678) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 337.63 Td (Pinnacle West) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 275.90 337.13 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.40 337.13 Td (131) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 337.13 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 337.13 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.40 337.13 Td (133) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 321.63 Td (Total long-term debt payments,) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 310.13 Td (including interest) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 264.40 310.13 Td (553) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.40 310.13 Td (817) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.40 310.13 Td (788) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.75 310.13 Td (3,653) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.75 310.13 Td (5,811) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 294.63 Td (Short-term debt payments,) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 283.13 Td (including interest \(b\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 264.40 283.13 Td (147) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 339.15 283.13 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 283.13 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 283.13 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.40 283.13 Td (147) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 267.63 Td (Fuel and purchased power) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 256.13 Td (commitments \(c\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 264.40 256.13 Td (618) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 324.75 256.13 Td (1,223) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 393.75 256.13 Td (1,146) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.75 256.13 Td (7,994) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 526.00 256.13 Td (10,981) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 240.63 Td (Renewable energy credits \(d\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 270.15 240.13 Td (46) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 339.15 240.13 Td (84) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 240.13 Td (84) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 240.13 Td (448) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.40 240.13 Td (662) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 224.63 Td (Purchase obligations \(e\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 264.40 224.13 Td (105) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.40 224.13 Td (154) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 224.13 Td (47) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 224.13 Td (222) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.40 224.13 Td (528) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 208.63 Td (Coal reclamation) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 275.90 208.13 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 339.15 208.13 Td (32) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 208.13 Td (37) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 208.13 Td (281) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.40 208.13 Td (351) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 192.63 Td (Nuclear decommissioning funding) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 181.13 Td (requirements) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 270.15 181.13 Td (17) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 344.90 181.13 Td (5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 413.90 181.13 Td (5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 181.13 Td (63) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 181.13 Td (90) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 165.63 Td (Noncontrolling interests \(f\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 270.15 165.13 Td (35) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 339.15 165.13 Td (45) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 165.13 Td (45) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 165.13 Td (250) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.40 165.13 Td (375) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 149.63 Td (Operating lease payments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 270.15 149.13 Td (18) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 339.15 149.13 Td (11) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 413.90 149.13 Td (7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 149.13 Td (63) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 149.13 Td (99) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 133.63 Td (Total contractual commitments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 223.50 133.13 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 255.75 133.13 Td (1,540) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 292.50 133.13 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 324.75 133.13 Td (2,371) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 133.13 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 393.75 133.13 Td (2,159) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 133.13 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 457.00 133.13 Td (12,974) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 133.13 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 526.00 133.13 Td (19,044) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 101.00 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 101.00 Td (The long-term debt matures at various dates through 2044 and bears interest principally at fixed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 87.20 Td (rates. Interest on variable-rate long-term debt is determined by using average rates at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 73.45 Td (December31, 2014 \(see Note 6\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 59.65 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 59.65 Td (The short-term debt represents commercial paper borrowings at ) Tj ET Q q 0 0 0 rg BT 398.57 59.65 Td (APS \(see Note 5\).) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 137 0 obj <>] /Rotate 0 /Contents 138 0 R>> endobj 138 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (65) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 741.05 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 741.05 Td (Our fuel and purchased power commitments include purchases of coal, electricity) Tj ET Q q 0 0 0 rg BT 478.61 741.05 Td (, natural gas, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 727.25 Td (renewable ener) Tj ET Q q 0 0 0 rg BT 173.20 727.25 Td (gy) Tj ET Q q 0 0 0 rg BT 183.96 727.25 Td (, nuclear fuel, and natural gas transportation \(see Notes 3 and 10\). ) Tj ET Q q 0 0 0 rg BT 492.24 727.25 Td (These amounts ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 713.45 Td (include commitments incurred from acquiring SCE) Tj ET Q q 0 0 0 rg BT 342.71 713.45 Td (s interest in Four Corners and ) Tj ET Q q 0 0 0 rg BT 481.34 713.45 Td (APS assuming ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 699.65 Td (an additional 7% in the 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 298.35 699.65 Td (Agreement.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 685.85 Td (\(d\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 685.85 Td (Contracts to purchase renewable ener) Tj ET Q q 0 0 0 rg BT 275.72 685.85 Td (gy credits in compliance with the RES \(see Note 3\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 672.05 Td (\(e\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 672.05 Td (These contractual obligations include commitments for capital expenditures and other obligations.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 658.25 Td (\(f\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 658.25 Td (Payments to the noncontrolling interests relate to the Palo ) Tj ET Q q 0 0 0 rg BT 371.90 658.25 Td (V) Tj ET Q q 0 0 0 rg BT 378.93 658.25 Td (erde Sale Leaseback \(see Note 18\). ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.75 644.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 630.65 Td (This table excludes $46 million in unrecognized tax benefits because the timing of the future cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (outflows is uncertain. Estimated minimum pension contributions are zero for 2015, 2016 and 2017, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (respectively \(see Note7\).) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 207.55 561.65 Td (CRITICAL) Tj ET Q q 0 0 0 rg BT 264.43 561.65 Td ( ) Tj ET Q q 0 0 0 rg BT 266.67 561.65 Td (ACCOUNTING POLICIES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 547.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 534.05 Td (In preparing the financial statements in accordance with accounting principles generally accepted in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (United States of ) Tj ET Q q 0 0 0 rg BT 125.84 520.25 Td (America \(GAAP\), management must often make estimates and assumptions that af) Tj ET Q q 0 0 0 rg BT 518.13 520.25 Td (fect the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (reported amounts of assets, liabilities, revenues, expenses and related disclosures at the date of the financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (statements and during the reporting period. Some of those judgments can be subjective and complex, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (actual results could dif) Tj ET Q q 0 0 0 rg BT 153.72 478.85 Td (fer from those estimates. ) Tj ET Q q 0 0 0 rg BT 272.95 478.85 Td (W) Tj ET Q q 0 0 0 rg BT 282.89 478.85 Td (e consider the following accounting policies to be our most ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.05 Td (critical because of the uncertainties, judgments and complexities of the underlying accounting standards and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.25 Td (operations involved.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 437.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (Regulatory ) Tj ET Q q 0 0 0 rg BT 106.68 423.65 Td (Accounting) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 396.05 Td (Regulatory accounting allows for the actions of regulators, such as the ) Tj ET Q q 0 0 0 rg BT 411.25 396.05 Td (ACC and FERC, to be reflected ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (in our financial statements. ) Tj ET Q q 0 0 0 rg BT 179.59 382.25 Td (Their actions may cause us to capitalize costs that would otherwise be included as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 Td (an expense in the current period by unregulated companies. Regulatory assets represent incurred costs that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.65 Td (have been deferred because they are probable of future recovery in customer rates. Regulatory liabilities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.85 Td (generally represent expected future costs that have already been collected from customers. Management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.05 Td (continually assesses whether our regulatory assets are probable of future recovery by considering factors such ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.25 Td (as applicable regulatory environment changes and recent rate orders to other regulated entities in the same ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.45 Td (jurisdiction. ) Tj ET Q q 0 0 0 rg BT 110.30 299.45 Td (This determination reflects the current political and regulatory climate in ) Tj ET Q q 0 0 0 rg BT 447.53 299.45 Td (Arizona and is subject to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.65 Td (change in the future. If future recovery of costs ceases to be probable, the assets would be written of) Tj ET Q q 0 0 0 rg BT 512.65 285.65 Td (f as a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 271.85 Td (char) Tj ET Q q 0 0 0 rg BT 69.08 271.85 Td (ge in current period earnings. ) Tj ET Q q 0 0 0 rg BT 209.70 271.85 Td (W) Tj ET Q q 0 0 0 rg BT 219.63 271.85 Td (e had $1,191 million of regulatory assets and $1,182 million of regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.05 Td (liabilities on the Consolidated Balance Sheets at December31, 2014.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 230.45 Td (Included in the balance of regulatory assets at December31, 2014 is a regulatory asset of $485 million ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.65 Td (for pension benefits. ) Tj ET Q q 0 0 0 rg BT 149.26 216.65 Td (This regulatory asset represents the future recovery of these costs through retail rates as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.85 Td (these amounts are char) Tj ET Q q 0 0 0 rg BT 154.35 202.85 Td (ged to earnings. If these costs are disallowed by the ) Tj ET Q q 0 0 0 rg BT 396.42 202.85 Td (ACC, this regulatory asset would ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 189.05 Td (be char) Tj ET Q q 0 0 0 rg BT 82.81 189.05 Td (ged to OCI and result in lower future earnings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 175.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 161.45 Td (See Notes 1 and 3 for more information.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 147.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 133.85 Td (Pensions and Other) Tj ET Q q 0 0 0 rg BT 145.78 133.85 Td ( Postr) Tj ET Q q 0 0 0 rg BT 174.63 133.85 Td (etir) Tj ET Q q 0 0 0 rg BT 191.66 133.85 Td (ement Benefit ) Tj ET Q q 0 0 0 rg BT 261.92 133.85 Td (Accounting) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 106.25 Td (Changes in our actuarial assumptions used in calculating our pension and other postretirement benefit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 92.45 Td (liability and expense can have a significant impact on our earnings and financial position. ) Tj ET Q q 0 0 0 rg BT 467.01 92.45 Td (The most relevant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 78.65 Td (actuarial assumptions are the discount rate used to measure our liability and net periodic cost, the expected ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 64.85 Td (long-term rate of return on plan assets used to estimate earnings on invested funds over the long-term, the ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 139 0 obj <>] /Rotate 0 /Contents 140 0 R>> endobj 140 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (66) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 734.55 Td (mortality assumptions, and the assumed healthcare cost trend rates. ) Tj ET Q q 0 0 0 rg BT 364.19 734.55 Td (W) Tj ET Q q 0 0 0 rg BT 374.12 734.55 Td (e review these assumptions on an annual ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (basis and adjust them as necessary) Tj ET Q q 0 0 0 rg BT 207.48 720.75 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.15 Td (The following chart reflects the sensitivities that a change in certain actuarial assumptions would have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (had on the December31, 2014 reported pension liability on the Consolidated Balance Sheets and our 2014 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (reported pension expense, after consideration of amounts capitalized or billed to electric plant participants, on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 651.75 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 651.75 Td (est) Tj ET Q q 0 0 0 rg BT 117.67 651.75 Td (s Consolidated Statements of Income \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 589.25 394.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 589.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 589.25 55.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 589.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 589.25 55.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 557.25 394.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 557.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 557.25 55.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 557.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 557.25 55.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 525.25 394.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 525.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 525.25 55.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 525.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 525.25 55.00 -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 448 626.25 m 503 626.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 626.25 m 507 626.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 626.25 m 562 626.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 589.25 m 444 589.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 589.25 m 503 589.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 626.25 m 562 626.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 589.25 m 562 589.25 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 631.15 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 458.70 631.15 Td (Increase\(Decrease\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 594.15 Td (ActuarialAssumption\(a\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 451.00 616.15 Td (Impacton) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 456.65 605.15 Td (Pension) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 454.80 594.15 Td (Liability) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 510.00 616.15 Td (Impacton) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 515.65 605.15 Td (Pension) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 514.40 594.15 Td (Expense) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 578.78 Td (Discount rate:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 578.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 578.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 562.78 Td (Increase 1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 450.50 562.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.55 562.33 Td (\(349) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 498.65 562.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 509.50 562.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 562.33 Td (\(2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 562.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 546.78 Td (Decrease 1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 481.40 546.28 Td (427) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 546.28 Td (13) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 530.78 Td (Expected long-term rate of return on plan assets:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 514.78 Td (Increase 1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 487.15 514.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 514.33 Td (\(11) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 514.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 498.78 Td (Decrease 1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 487.15 498.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 498.28 Td (11) Tj ET Q BT /F1 11.50 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 479.25 m 300 479.25 l s BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 459.95 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 459.95 Td ( Each fluctuation assumes that the other assumptions of the calculation are held constant while the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 446.15 Td (rates are changed by one percentage point.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 432.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 418.55 Td (The following chart reflects the sensitivities that a change in certain actuarial assumptions would have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 404.75 Td (had on the December31, 2014 other postretirement benefit obligation and our 2014 reported other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 390.95 Td (postretirement benefit expense, after consideration of amounts capitalized or billed to electric plant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 377.15 Td (participants, on Pinnacle ) Tj ET Q q 0 0 0 rg BT 165.54 377.15 Td (W) Tj ET Q q 0 0 0 rg BT 175.48 377.15 Td (est) Tj ET Q q 0 0 0 rg BT 191.45 377.15 Td (s Consolidated Statements of Income \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 300.65 313.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 300.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 300.65 96.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 300.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 300.65 95.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 268.65 313.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 268.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 268.65 96.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 268.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 268.65 95.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 236.65 313.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 236.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 236.65 96.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 236.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 236.65 95.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 204.65 313.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 204.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 204.65 96.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 204.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 204.65 95.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 172.65 313.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 172.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 172.65 96.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 172.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 172.65 95.00 -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 367 350.65 m 463 350.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 350.65 m 467 350.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 350.65 m 562 350.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 300.65 m 363 300.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367 300.65 m 463 300.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 350.65 m 562 350.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 300.65 m 562 300.65 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 355.55 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 418.20 355.55 Td (Increase\(Decrease\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 305.55 Td (ActuarialAssumption\(a\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 375.15 338.55 Td (ImpactonOther) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 379.55 327.55 Td (Postr) Tj ET Q q 0 0 0 rg BT 404.40 327.55 Td (etir) Tj ET Q q 0 0 0 rg BT 420.68 327.55 Td (ement) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 397.65 316.55 Td (Benefit) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 389.40 305.55 Td (Obligation) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 474.65 327.55 Td (ImpactonOther) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 479.05 316.55 Td (Postr) Tj ET Q q 0 0 0 rg BT 503.90 316.55 Td (etir) Tj ET Q q 0 0 0 rg BT 520.18 316.55 Td (ement) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 476.25 305.55 Td (BenefitExpense) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 290.18 Td (Discount rate:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.50 289.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 289.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 274.18 Td (Increase 1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.50 273.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.30 273.73 Td (\(93) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 458.65 273.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.50 273.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 273.73 Td (\(1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 273.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 258.18 Td (Decrease 1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.40 257.68 Td (120) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 257.68 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 242.18 Td (Healthcare cost trend rate \(b\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 226.18 Td (Increase 1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.40 225.68 Td (110) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 225.68 Td (10) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 210.18 Td (Decrease 1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.30 209.73 Td (\(88) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 458.65 209.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 209.73 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 209.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 194.18 Td (Expected long-term rate of return on plan assets pretax:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.50 193.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 178.18 Td (Increase 1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 447.15 177.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 177.73 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 177.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 162.18 Td (Decrease 1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 447.15 161.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 161.68 Td (4) Tj ET Q BT /F1 11.50 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 142.64999999999998 m 300 142.64999999999998 l s BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 123.35 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 123.35 Td (Each fluctuation assumes that the other assumptions of the calculation are held constant while the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 109.55 Td (rates are changed by one percentage point.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 95.75 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 95.75 Td (This assumes a 1% change in the initial and ultimate healthcare cost trend rate.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 81.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 68.15 Td (See Note 7 for further details about our pension and other postretirement benefit plans.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 54.35 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 141 0 obj <>] /Rotate 0 /Contents 142 0 R>> endobj 142 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (67) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 734.75 Td (Fair) Tj ET Q q 0 0 0 rg BT 70.37 734.75 Td ( ) Tj ET Q q 0 0 0 rg BT 73.03 734.75 Td (V) Tj ET Q q 0 0 0 rg BT 80.28 734.75 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 141.08 734.75 Td (ements) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.15 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 707.15 Td (e account for derivative instruments, investments held in our nuclear decommissioning trust fund, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.35 Td (certain cash equivalents, and plan assets held in our retirement and other benefit plans at fair value on a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.55 Td (recurring basis. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.75 Td (orderly transaction between market participants at the measurement date. ) Tj ET Q q 0 0 0 rg BT 391.29 665.75 Td (W) Tj ET Q q 0 0 0 rg BT 401.22 665.75 Td (e use inputs, or assumptions that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td (market participants would use, to determine fair market value. ) Tj ET Q q 0 0 0 rg BT 341.17 651.95 Td (W) Tj ET Q q 0 0 0 rg BT 351.10 651.95 Td (e utilize valuation techniques that maximize ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.15 Td (the use of observable inputs and minimize the use of unobservable inputs. ) Tj ET Q q 0 0 0 rg BT 394.86 638.15 Td (The significance of a particular ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.35 Td (input determines how the instrument is classified in a fair value hierarchy) Tj ET Q q 0 0 0 rg BT 386.95 624.35 Td (. ) Tj ET Q q 0 0 0 rg BT 395.37 624.35 Td (The determination of fair value ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (sometimes requires subjective and complex judgment. Our assessment of the inputs and the significance of a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.75 Td (particular input to fair value measurement may af) Tj ET Q q 0 0 0 rg BT 276.97 596.75 Td (fect the valuation of the instruments and their placement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.95 Td (within a fair value hierarchy) Tj ET Q q 0 0 0 rg BT 179.03 582.95 Td (. ) Tj ET Q q 0 0 0 rg BT 187.02 582.95 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 294.44 582.95 Td (fer from our estimates of fair value. See Note 1 for a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (discussion on accounting policies and Note 13 for fair value measurement disclosures.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 214.70 527.75 Td (OTHER ) Tj ET Q q 0 0 0 rg BT 258.48 527.75 Td (ACCOUNTING MA) Tj ET Q q 0 0 0 rg BT 359.53 527.75 Td (TTERS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 513.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 500.15 Td (During 2014, we adopted new accounting guidance relating to the balance sheet presentation of certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.35 Td (unrecognized tax benefits. In addition, we are currently evaluating new revenue recognition guidance that we ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.55 Td (will be adopting on January1, 2017.See Note 2.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 224.25 431.15 Td (MARKET) Tj ET Q q 0 0 0 rg BT 275.79 431.15 Td ( ) Tj ET Q q 0 0 0 rg BT 278.03 431.15 Td (AND CREDIT) Tj ET Q q 0 0 0 rg BT 350.35 431.15 Td ( RISKS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 417.35 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 403.55 Td (Market Risks) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 375.95 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 49.50 362.15 Td (and investments held by our nuclear decommissioning trust fund and benefit plan assets.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 348.35 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 334.55 Td (Inter) Tj ET Q q 0 0 0 rg BT 110.20 334.55 Td (est Rate and Equity Risk) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 306.95 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 306.95 Td (e have exposure to changing interest rates. Changing interest rates will af) Tj ET Q q 0 0 0 rg BT 434.69 306.95 Td (fect interest paid on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.15 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 49.50 279.35 Td (fund \(see Note 13 and Note 19\) and benefit plan assets. ) Tj ET Q q 0 0 0 rg BT 309.57 279.35 Td (The nuclear decommissioning trust fund and benefit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.55 Td (plan assets also have risks associated with the changing market value of their equity and other non-fixed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.75 Td (income investments. Nuclear decommissioning and benefit plan costs are recovered in regulated electricity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.95 Td (prices.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 224.15 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 143 0 obj <>] /Rotate 0 /Contents 144 0 R>> endobj 144 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (68) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 734.55 Td (The tables below present contractual balances of our consolidated long-term and short-term debt at the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (expected maturity dates, as well as the fair value of those instruments on December31, 2014 and 2013. ) Tj ET Q q 0 0 0 rg BT 530.25 720.75 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (interest rates presented in the tables below represent the weighted-average interest rates as of December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (2014 and 2013 \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.35 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 49.5 664.017041015625 m 186.66748046875 664.017041015625 l s q 0 0 0 rg BT 49.50 665.55 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 665.55 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 665.55 Td (est Consolidated) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 599.05 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 599.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 599.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 599.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 599.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 599.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 599.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 599.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 599.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 599.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 599.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 599.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 599.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 567.05 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 567.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 567.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 567.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 567.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 567.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 567.05 65.00 -16.00 re f 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l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 504.05 m 425 504.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 502.05 m 425 502.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 504.05 m 563 504.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 502.05 m 563 502.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 502.05 m 287 502.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 504.05 m 287 504.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 488.05 m 287 488.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 486.05 m 287 486.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 502.05 m 425 502.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 504.05 m 425 504.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 488.05 m 425 488.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 486.05 m 425 486.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 502.05 m 563 502.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 504.05 m 563 504.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 488.05 m 563 488.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 486.05 m 563 486.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 472.05 m 287 472.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 470.05 m 287 470.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 472.05 m 425 472.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 470.05 m 425 470.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 472.05 m 563 472.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 470.05 m 563 470.05 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 631.77 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 191.90 644.95 Td (Short-T) Tj ET Q q 0 0 0 rg BT 228.17 644.95 Td (erm) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 208.15 633.95 Td (Debt) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 324.70 644.95 Td (V) Tj ET Q q 0 0 0 rg BT 331.63 644.95 Td (ariable-Rate) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 318.10 633.95 Td (Long-T) Tj ET Q q 0 0 0 rg BT 352.54 633.95 Td (ermDebt) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 469.50 644.95 Td (Fixed-Rate) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 456.10 633.95 Td (Long-T) Tj ET Q q 0 0 0 rg BT 490.54 633.95 Td (ermDebt) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 616.77 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 166.75 618.95 Td (Interest) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 254.00 618.95 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 304.75 618.95 Td (Interest) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 392.00 618.95 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 442.75 618.95 Td (Interest) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 530.00 618.95 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 89.00 603.73 Td (2014) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 171.85 603.95 Td (Rates) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 234.70 603.95 Td (Amount) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 309.85 603.95 Td (Rates) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 372.70 603.95 Td (Amount) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 447.85 603.95 Td (Rates) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 510.70 603.95 Td (Amount) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 588.08 Td (2015) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 187.75 588.08 Td (0.40) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 207.90 588.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.50 588.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.25 588.08 Td (147,400) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.75 588.08 Td (0.03) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.90 588.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 588.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.00 588.08 Td (32,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 588.08 Td (4.32) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 588.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 588.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 588.08 Td (351,570) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 572.08 Td (2016) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 572.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 572.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.75 572.08 Td (0.04) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.90 572.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.00 572.08 Td (43,580) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 572.08 Td (6.15) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 572.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 572.08 Td (314,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 556.08 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 556.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 556.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.75 556.08 Td (0.82) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.90 556.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 383.25 556.08 Td (157,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.40 556.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 556.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 540.08 Td (2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 540.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 540.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 334.40 540.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 409.15 540.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 540.08 Td (1.75) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 540.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.00 540.08 Td (32,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 524.08 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 524.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 524.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 334.40 524.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 409.15 524.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 524.08 Td (8.75) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 524.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 524.08 Td (500,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 508.58 Td (Years thereafter) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 508.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 508.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.75 508.08 Td (0.27) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.90 508.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.00 508.08 Td (48,825) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 508.08 Td (4.90) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 508.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 508.08 Td (1,940,150) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 492.58 Td (Total) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.50 492.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.50 492.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.25 492.08 Td (147,400) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 492.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 383.25 492.08 Td (281,405) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.50 492.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 492.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 492.08 Td (3,137,720) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 476.58 Td (Fair value) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.50 476.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.50 476.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.25 476.08 Td (147,400) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 352.50 476.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 476.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 383.25 476.08 Td (281,405) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.50 476.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 476.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 476.08 Td (3,557,703) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 457.75 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 391.25 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 391.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 391.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 391.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 391.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 391.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 391.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 391.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 391.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 391.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 391.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 391.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 391.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 359.25 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 359.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 359.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 359.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 359.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 359.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 359.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 359.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 359.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 359.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 359.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 359.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 359.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 327.25 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 327.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 327.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 327.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 327.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 327.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 327.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 327.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 327.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 327.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 327.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 327.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 327.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 295.25 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 295.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 295.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 295.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 295.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 295.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 295.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 295.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 295.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 295.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 295.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 295.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 295.25 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 153 421.25 m 218 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218 421.25 m 222 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 421.25 m 287 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 421.25 m 356 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 421.25 m 360 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 421.25 m 425 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 421.25 m 494 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 421.25 m 498 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 421.25 m 563 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 421.25 m 287 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 421.25 m 425 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 421.25 m 563 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 391.25 m 149 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 153 391.25 m 218 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 391.25 m 287 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 391.25 m 356 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 391.25 m 425 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 391.25 m 494 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 391.25 m 563 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 391.25 m 149 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 153 391.25 m 218 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 391.25 m 287 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 391.25 m 356 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 391.25 m 425 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 391.25 m 494 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 391.25 m 563 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 296.25 m 287 296.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 294.25 m 287 294.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 296.25 m 425 296.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 294.25 m 425 294.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 296.25 m 563 296.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 294.25 m 563 294.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 294.25 m 287 294.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 296.25 m 287 296.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 280.25 m 287 280.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 278.25 m 287 278.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 294.25 m 425 294.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 296.25 m 425 296.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 280.25 m 425 280.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 278.25 m 425 278.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 294.25 m 563 294.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 296.25 m 563 296.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 280.25 m 563 280.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 278.25 m 563 278.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 264.25 m 287 264.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 262.25 m 287 262.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 264.25 m 425 264.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 262.25 m 425 262.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 264.25 m 563 264.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 262.25 m 563 262.25 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 423.97 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 191.90 437.15 Td (Short-T) Tj ET Q q 0 0 0 rg BT 228.17 437.15 Td (erm) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 208.15 426.15 Td (Debt) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 324.70 437.15 Td (V) Tj ET Q q 0 0 0 rg BT 331.63 437.15 Td (ariable-Rate) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 318.10 426.15 Td (Long-T) Tj ET Q q 0 0 0 rg BT 352.54 426.15 Td (ermDebt) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 469.50 437.15 Td (Fixed-Rate) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 456.10 426.15 Td (Long-T) Tj ET Q q 0 0 0 rg BT 490.54 426.15 Td (ermDebt) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 408.97 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 166.75 411.15 Td (Interest) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 254.00 411.15 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 304.75 411.15 Td (Interest) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 392.00 411.15 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 442.75 411.15 Td (Interest) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 530.00 411.15 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 89.00 395.93 Td (2013) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 171.85 396.15 Td (Rates) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 234.70 396.15 Td (Amount) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 309.85 396.15 Td (Rates) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 372.70 396.15 Td (Amount) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 447.85 396.15 Td (Rates) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 510.70 396.15 Td (Amount) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 380.17 Td (2014) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 189.05 380.17 Td (0.23) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 208.30 380.17 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 224.50 380.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 247.00 380.17 Td (153,125) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 335.30 380.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 362.50 380.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 409.80 380.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 465.05 380.17 Td (5.58) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.30 380.17 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 500.50 380.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 380.17 Td (540,424) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 364.17 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 197.30 364.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 271.80 364.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 327.05 364.17 Td (1.02) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 346.30 364.17 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 385.00 364.17 Td (157,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 465.05 364.17 Td (4.79) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.30 364.17 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 364.17 Td (313,420) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 348.17 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 197.30 348.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 271.80 348.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 327.05 348.17 Td (0.06) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 346.30 348.17 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 390.50 348.17 Td (43,580) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 465.05 348.17 Td (6.15) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.30 348.17 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 348.17 Td (314,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 332.17 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 197.30 332.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 271.80 332.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 335.30 332.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 409.80 332.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.30 332.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.80 332.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 316.17 Td (2018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 197.30 316.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 271.80 316.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 335.30 316.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 409.80 316.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 465.05 316.17 Td (1.75) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.30 316.17 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 316.17 Td (32,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 301.12 Td (Years thereafter) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 197.30 300.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 271.80 300.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 335.30 300.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 409.80 300.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 465.05 300.17 Td (6.12) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.30 300.17 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 300.17 Td (1,940,150) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 285.12 Td (Total) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 214.50 284.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 224.50 284.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 247.00 284.17 Td (153,125) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 362.50 284.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 385.00 284.17 Td (200,580) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.50 284.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 500.50 284.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 284.17 Td (3,139,994) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 269.12 Td (Fair value) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 214.50 268.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 224.50 268.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 247.00 268.17 Td (153,125) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 352.50 268.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 362.50 268.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 385.00 268.17 Td (200,580) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.50 268.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 500.50 268.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 268.17 Td (3,378,102) Tj ET Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 145 0 obj <>] /Rotate 0 /Contents 146 0 R>> endobj 146 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (69) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 734.55 Td (The tables below present contractual balances of ) Tj ET Q q 0 0 0 rg BT 311.26 734.55 Td (APS) Tj ET Q q 0 0 0 rg BT 335.55 734.55 Td (s long-term debt at the expected maturity dates, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (as well as the fair value of those instruments on December31, 2014 and 2013. ) Tj ET Q q 0 0 0 rg BT 415.29 720.75 Td (The interest rates presented in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (the tables below represent the weighted-average interest rates as of December31, 2014 and 2013 \(dollars in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.35 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 49.5 664.017041015625 m 148.5380859375 664.017041015625 l s q 0 0 0 rg BT 49.50 665.55 Td (APS Consolidated) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 599.05 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 599.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 599.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 599.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 599.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 599.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 599.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 599.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 599.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 599.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 599.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 599.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 599.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 567.05 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 567.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 567.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 567.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 567.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 567.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 567.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 567.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 567.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 567.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 567.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 567.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 567.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 535.05 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 535.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 535.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 535.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 535.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 535.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 535.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 535.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 535.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 535.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 535.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 535.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 535.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 503.05 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 503.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 503.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 503.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 503.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 503.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 503.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 503.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 503.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 503.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 503.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 503.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 503.05 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 153 629.05 m 218 629.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218 629.05 m 222 629.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 629.05 m 287 629.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 629.05 m 356 629.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 629.05 m 360 629.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 629.05 m 425 629.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 629.05 m 494 629.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 629.05 m 498 629.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 629.05 m 563 629.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 629.05 m 287 629.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 629.05 m 425 629.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 629.05 m 563 629.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 599.05 m 149 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 153 599.05 m 218 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 599.05 m 287 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 599.05 m 356 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 599.05 m 425 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 599.05 m 494 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 599.05 m 563 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 599.05 m 149 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 153 599.05 m 218 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 599.05 m 287 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 599.05 m 356 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 599.05 m 425 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 599.05 m 494 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 599.05 m 563 599.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 504.05 m 287 504.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 502.05 m 287 502.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 504.05 m 425 504.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 502.05 m 425 502.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 504.05 m 563 504.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 502.05 m 563 502.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 502.05 m 287 502.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 504.05 m 287 504.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 488.05 m 287 488.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 486.05 m 287 486.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 502.05 m 425 502.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 504.05 m 425 504.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 488.05 m 425 488.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 486.05 m 425 486.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 502.05 m 563 502.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 504.05 m 563 504.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 488.05 m 563 488.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 486.05 m 563 486.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 472.05 m 287 472.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 470.05 m 287 470.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 472.05 m 425 472.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 470.05 m 425 470.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 472.05 m 563 472.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 470.05 m 563 470.05 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 631.77 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 191.90 644.95 Td (Short-T) Tj ET Q q 0 0 0 rg BT 228.17 644.95 Td (erm) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 208.15 633.95 Td (Debt) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 324.70 644.95 Td (V) Tj ET Q q 0 0 0 rg BT 331.63 644.95 Td (ariable-Rate) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 318.10 633.95 Td (Long-T) Tj ET Q q 0 0 0 rg BT 352.54 633.95 Td (ermDebt) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 469.50 644.95 Td (Fixed-Rate) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 456.10 633.95 Td (Long-T) Tj ET Q q 0 0 0 rg BT 490.54 633.95 Td (ermDebt) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 616.77 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 166.75 618.95 Td (Interest) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 254.00 618.95 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 304.75 618.95 Td (Interest) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 392.00 618.95 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 442.75 618.95 Td (Interest) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 530.00 618.95 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 89.00 603.73 Td (2014) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 171.85 603.95 Td (Rates) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 234.70 603.95 Td (Amount) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 309.85 603.95 Td (Rates) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 372.70 603.95 Td (Amount) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 447.85 603.95 Td (Rates) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 510.70 603.95 Td (Amount) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 588.08 Td (2015) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 187.75 588.08 Td (0.40) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 207.90 588.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.50 588.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.25 588.08 Td (147,400) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.75 588.08 Td (0.03) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.90 588.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 588.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.00 588.08 Td (32,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 588.08 Td (4.32) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 588.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 588.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 588.08 Td (351,570) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 572.08 Td (2016) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 572.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 572.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.75 572.08 Td (0.04) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.90 572.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.00 572.08 Td (43,580) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 572.08 Td (6.15) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 572.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 572.08 Td (314,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 556.08 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 556.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 556.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.75 556.08 Td (0.03) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.90 556.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.00 556.08 Td (32,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.40 556.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 556.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 540.08 Td (2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 540.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 540.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 334.40 540.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 409.15 540.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 540.08 Td (1.75) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 540.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.00 540.08 Td (32,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 524.08 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 524.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 524.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 334.40 524.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 409.15 524.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 524.08 Td (8.75) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 524.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 524.08 Td (500,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 508.58 Td (Years thereafter) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 508.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 508.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.75 508.08 Td (0.27) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.90 508.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.00 508.08 Td (48,825) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 508.08 Td (4.90) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 508.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 508.08 Td (1,940,150) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 492.58 Td (Total) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.50 492.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.50 492.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.25 492.08 Td (147,400) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 492.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 383.25 492.08 Td (156,405) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 492.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 492.08 Td (3,137,720) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 476.58 Td (Fair value) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.50 476.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.50 476.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.25 476.08 Td (147,400) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 352.50 476.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 476.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 383.25 476.08 Td (156,405) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.50 476.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 476.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 476.08 Td (3,557,703) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 457.75 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 391.25 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 391.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 391.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 391.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 391.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 391.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 391.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 391.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 391.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 391.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 391.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 391.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 391.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 359.25 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 359.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 359.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 359.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 359.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 359.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 359.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 359.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 359.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 359.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 359.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 359.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 359.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 327.25 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 327.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 327.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 327.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 327.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 327.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 327.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 327.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 327.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 327.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 327.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 327.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 327.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 295.25 99.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.00 295.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.00 295.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 295.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 295.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 295.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 295.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 295.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 295.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 295.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 295.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 295.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 295.25 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 153 421.25 m 218 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218 421.25 m 222 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 421.25 m 287 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 421.25 m 356 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 421.25 m 360 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 421.25 m 425 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 421.25 m 494 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 421.25 m 498 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 421.25 m 563 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 421.25 m 287 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 421.25 m 425 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 421.25 m 563 421.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 391.25 m 149 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 153 391.25 m 218 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 391.25 m 287 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 391.25 m 356 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 391.25 m 425 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 391.25 m 494 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 391.25 m 563 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 391.25 m 149 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 153 391.25 m 218 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 391.25 m 287 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 391.25 m 356 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 391.25 m 425 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 391.25 m 494 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 391.25 m 563 391.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 296.25 m 287 296.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 294.25 m 287 294.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 296.25 m 425 296.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 294.25 m 425 294.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 296.25 m 563 296.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 294.25 m 563 294.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 294.25 m 287 294.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 296.25 m 287 296.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 280.25 m 287 280.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 278.25 m 287 278.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 294.25 m 425 294.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 296.25 m 425 296.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 280.25 m 425 280.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 278.25 m 425 278.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 294.25 m 563 294.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 296.25 m 563 296.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 280.25 m 563 280.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 278.25 m 563 278.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 278.25 m 287 278.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 280.25 m 287 280.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 264.25 m 287 264.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 262.25 m 287 262.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 278.25 m 425 278.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 280.25 m 425 280.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 264.25 m 425 264.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 262.25 m 425 262.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 264.25 m 563 264.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 262.25 m 563 262.25 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 423.97 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 191.90 437.15 Td (Short-T) Tj ET Q q 0 0 0 rg BT 228.17 437.15 Td (erm) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 208.15 426.15 Td (Debt) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 324.70 437.15 Td (V) Tj ET Q q 0 0 0 rg BT 331.63 437.15 Td (ariable-Rate) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 318.10 426.15 Td (Long-T) Tj ET Q q 0 0 0 rg BT 352.54 426.15 Td (ermDebt) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 469.50 437.15 Td (Fixed-Rate) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 456.10 426.15 Td (Long-T) Tj ET Q q 0 0 0 rg BT 490.54 426.15 Td (ermDebt) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 408.97 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 166.75 411.15 Td (Interest) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 254.00 411.15 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 304.75 411.15 Td (Interest) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 392.00 411.15 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 442.75 411.15 Td (Interest) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 530.00 411.15 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 89.00 395.93 Td (2013) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 171.85 396.15 Td (Rates) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 234.70 396.15 Td (Amount) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 309.85 396.15 Td (Rates) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 372.70 396.15 Td (Amount) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 447.85 396.15 Td (Rates) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 510.70 396.15 Td (Amount) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 380.28 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 187.75 380.28 Td (0.23) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 207.90 380.28 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.50 380.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.25 380.28 Td (153,125) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 334.40 380.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 380.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 409.15 380.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 380.28 Td (5.58) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 380.28 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 380.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 380.28 Td (540,424) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 364.28 Td (2015) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 364.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 364.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.75 364.28 Td (0.03) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.90 364.28 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.00 364.28 Td (32,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 364.28 Td (4.79) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 364.28 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 364.28 Td (313,420) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 348.28 Td (2016) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 348.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 348.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.75 348.28 Td (0.06) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.90 348.28 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.00 348.28 Td (43,580) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 348.28 Td (6.15) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 348.28 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 348.28 Td (314,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 332.28 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 332.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 332.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 334.40 332.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 409.15 332.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.40 332.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 332.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 316.28 Td (2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 316.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 316.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 334.40 316.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 409.15 316.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 316.28 Td (1.75) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 316.28 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.00 316.28 Td (32,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 300.78 Td (Years thereafter) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.40 300.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.15 300.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 334.40 300.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 409.15 300.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 300.28 Td (6.12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 300.28 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 300.28 Td (1,940,150) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 284.78 Td (Total) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.50 284.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.50 284.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.25 284.28 Td (153,125) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 284.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.00 284.28 Td (75,580) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.50 284.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 284.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 284.28 Td (3,139,994) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 268.78 Td (Fair value) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.50 268.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.50 268.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.25 268.28 Td (153,125) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 352.50 268.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 268.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.00 268.28 Td (75,580) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.50 268.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 268.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 268.28 Td (3,378,102) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 249.95 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 236.15 Td (Commodity Price Risk) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 222.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 208.55 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 208.55 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 49.50 194.75 Td (electricity and natural gas. Our risk management committee, consisting of of) Tj ET Q q 0 0 0 rg BT 404.74 194.75 Td (ficers and key management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 180.95 Td (personnel, oversees company-wide ener) Tj ET Q q 0 0 0 rg BT 233.22 180.95 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 49.50 167.15 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 167.15 Td (gy risk management policies. ) Tj ET Q q 0 0 0 rg BT 209.40 167.15 Td (W) Tj ET Q q 0 0 0 rg BT 219.33 167.15 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 49.50 153.35 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 49.50 139.55 Td (swaps. ) Tj ET Q q 0 0 0 rg BT 85.60 139.55 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 49.50 125.75 Td (electricity and fuels. ) Tj ET Q q 0 0 0 rg BT 148.60 125.75 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 49.50 111.95 Td (the hedged commodities.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 147 0 obj <>] /Rotate 0 /Contents 148 0 R>> endobj 148 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (70) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 734.55 Td (The following table shows the net pretax changes in mark-to-market of our derivative positions in 2014 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (and 2013 \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 695.25 378.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 695.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 695.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 695.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 663.25 378.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 663.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 663.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 663.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 631.25 378.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 631.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 631.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 631.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 599.25 378.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 599.25 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 599.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 599.25 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 428 695.25 m 493 695.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 695.25 m 562 695.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 695.25 m 493 695.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 695.25 m 562 695.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 583.25 m 493 583.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 583.25 m 562 583.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 583.25 m 493 583.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 568.25 m 493 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 566.25 m 493 566.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 583.25 m 562 583.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 568.25 m 562 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 566.25 m 562 566.25 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 697.97 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 449.00 700.15 Td (2014) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 518.00 700.15 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 684.78 Td (Mark-to-market of net positions at beginning of year) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 684.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.30 684.33 Td (\(73) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 684.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 684.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 536.55 684.33 Td (\(122) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 684.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 668.78 Td (Recognized in earnings \(a\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.50 668.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 668.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 652.78 Td (Change in mark-to-market gains \(losses\) for future period deliveries) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 652.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 652.33 Td (\(1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 652.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 636.78 Td (Decrease in regulatory asset/liability) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.30 636.33 Td (\(64) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 636.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 636.28 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 620.78 Td (Recognized in OCI:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 620.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 604.78 Td (Mark-to-market losses realized during the period) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 604.28 Td (22) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 604.28 Td (44) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 588.78 Td (Change in valuation techniques) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 588.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 588.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 572.78 Td (Mark-to-market of net positions at end of year) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 572.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 572.33 Td (\(115) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 572.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 572.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 572.33 Td (\(73) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 572.28 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 534.15 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 534.15 Td (Represents the amounts reflected in income after the ef) Tj ET Q q 0 0 0 rg BT 356.83 534.15 Td (fect of PSA) Tj ET Q q 0 0 0 rg BT 409.86 534.15 Td ( deferrals.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 506.55 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 49.50 492.75 Td (December31, 2014 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 49.50 478.95 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 49.50 465.15 Td (See Note 1, Derivative ) Tj ET Q q 0 0 0 rg BT 161.59 465.15 Td (Accounting and Fair ) Tj ET Q q 0 0 0 rg BT 269.00 465.15 Td (V) Tj ET Q q 0 0 0 rg BT 276.03 465.15 Td (alue Measurements, for more discussion of our valuation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.35 Td (methods.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 403.85 169.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.00 403.85 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 403.85 45.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 403.85 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 403.85 45.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 403.85 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 403.85 45.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 403.85 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 403.85 45.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 403.85 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 403.85 45.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 403.85 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 403.85 45.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 403.85 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 403.85 45.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 349.85 169.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.00 349.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 349.85 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 349.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 349.85 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 349.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 349.85 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 349.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 349.85 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 349.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 349.85 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 349.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 349.85 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 349.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 349.85 45.00 -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 50 403.85 m 219 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 403.85 m 268 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 403.85 m 317 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 403.85 m 366 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 403.85 m 415 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 403.85 m 464 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 403.85 m 513 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 403.85 m 562 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 403.85 m 268 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 403.85 m 317 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 403.85 m 366 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 403.85 m 415 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 403.85 m 464 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 403.85 m 513 403.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 349.85 m 268 349.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 349.85 m 317 349.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 349.85 m 366 349.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 349.85 m 415 349.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 349.85 m 464 349.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 349.85 m 513 349.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 349.85 m 268 349.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 334.85 m 268 334.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 332.85 m 268 332.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 349.85 m 317 349.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 334.85 m 317 334.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 332.85 m 317 332.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 349.85 m 366 349.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 334.85 m 366 334.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 332.85 m 366 332.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 349.85 m 415 349.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 334.85 m 415 334.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 332.85 m 415 332.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 349.85 m 464 349.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 334.85 m 464 334.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 332.85 m 464 332.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 349.85 m 513 349.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 334.85 m 513 334.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 332.85 m 513 332.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 349.85 m 562 349.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 334.85 m 562 334.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 332.85 m 562 332.85 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 408.75 Td (SourceofFairValue) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 234.00 408.75 Td (2015) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 283.00 408.75 Td (2016) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 332.00 408.75 Td (2017) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 381.00 408.75 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 430.00 408.75 Td (2019) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 476.85 430.75 Td (Y) Tj ET Q q 0 0 0 rg BT 483.57 430.75 Td (ears) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 476.05 419.75 Td (ther) Tj ET Q q 0 0 0 rg BT 495.40 419.75 Td (e-) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 478.80 408.75 Td (after) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 526.95 430.75 Td (T) Tj ET Q q 0 0 0 rg BT 533.28 430.75 Td (otal) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 530.50 419.75 Td (fair) Tj ET Q q 0 0 0 rg BT 547.40 419.75 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 526.45 408.75 Td (value) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 393.38 Td (Observable prices provided by) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 381.88 Td (other external sources) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 225.50 381.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 248.30 381.88 Td (\(40) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 263.65 381.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 274.50 381.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.30 381.93 Td (\(22) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.65 381.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 323.50 381.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 346.30 381.93 Td (\(11) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.65 381.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 372.50 381.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 401.05 381.93 Td (\(1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.65 381.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 421.50 381.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 448.15 381.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 470.50 381.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 497.15 381.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 519.50 381.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 381.93 Td (\(74) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 381.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 366.38 Td (Prices based on unobservable) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 354.88 Td (inputs) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 248.30 354.88 Td (\(16) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 263.65 354.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.30 354.93 Td (\(11) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.65 354.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 352.05 354.93 Td (\(5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.65 354.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 401.05 354.93 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.65 354.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 450.05 354.93 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.65 354.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.05 354.93 Td (\(1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 508.65 354.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 354.93 Td (\(41) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 354.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 338.88 Td (Total by maturity) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 225.50 338.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 248.30 338.88 Td (\(56) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 263.65 338.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 274.50 338.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.30 338.93 Td (\(33) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.65 338.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 323.50 338.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 346.30 338.93 Td (\(16) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.65 338.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 372.50 338.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 401.05 338.93 Td (\(5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.65 338.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 421.50 338.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 450.05 338.93 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.65 338.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 470.50 338.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.05 338.93 Td (\(1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 508.65 338.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 519.50 338.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 536.55 338.93 Td (\(115) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 338.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 149 0 obj <>] /Rotate 0 /Contents 150 0 R>> endobj 150 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (71) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 734.55 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 49.50 720.75 Td (market value of our risk management assets and liabilities included on Pinnacle ) Tj ET Q q 0 0 0 rg BT 418.48 720.75 Td (W) Tj ET Q q 0 0 0 rg BT 428.41 720.75 Td (est) Tj ET Q q 0 0 0 rg BT 444.38 720.75 Td (s Consolidated Balance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (Sheets at December31, 2014 and 2013 \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 644.45 240.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 644.45 66.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 644.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 644.45 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 644.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 644.45 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 644.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 644.45 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 612.45 240.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 612.45 66.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 612.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 612.45 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 612.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 612.45 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 612.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 612.45 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 580.45 240.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 580.45 66.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 580.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 580.45 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 580.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 580.45 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 580.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 580.45 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 290 670.45 m 356 670.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 670.45 m 360 670.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 670.45 m 425 670.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 670.45 m 494 670.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 670.45 m 498 670.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 670.45 m 563 670.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 644.45 m 356 644.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 670.45 m 425 670.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 644.45 m 425 644.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 644.45 m 494 644.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 670.45 m 563 670.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 644.45 m 563 644.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 580.45 m 356 580.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 580.45 m 425 580.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 580.45 m 494 580.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 580.45 m 563 580.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 580.45 m 356 580.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 565.45 m 356 565.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 563.45 m 356 563.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 580.45 m 425 580.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 565.45 m 425 565.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 563.45 m 425 563.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 580.45 m 494 580.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 565.45 m 494 565.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 563.45 m 494 563.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 580.45 m 563 580.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 565.45 m 563 565.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 563.45 m 563 563.45 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 673.17 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 312.65 686.35 Td (December) Tj ET Q q 0 0 0 rg BT 360.09 686.35 Td (31,2014) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 329.60 675.35 Td (Gain\(Loss\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 451.15 686.35 Td (December) Tj ET Q q 0 0 0 rg BT 498.59 686.35 Td (31,2013) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 468.10 675.35 Td (Gain\(Loss\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 647.17 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 295.00 660.35 Td (PriceUp10) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 317.00 649.35 Td (%) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 364.65 660.35 Td (PriceDown) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 381.00 649.35 Td (10%) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 433.50 660.35 Td (PriceUp10) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 455.50 649.35 Td (%) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 502.65 660.35 Td (PriceDown) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 519.00 649.35 Td (10%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 633.98 Td (Mark-to-marketchanges reportedin:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 352.50 633.48 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 421.50 633.48 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.50 633.48 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 633.48 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 617.98 Td (Regulatory asset \(liability\) or OCI \(a\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 352.50 617.48 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 421.50 617.48 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.50 617.48 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 617.48 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 601.98 Td (Electricity) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.90 601.48 Td (3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 411.05 601.53 Td (\(3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.65 601.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 601.48 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 549.05 601.53 Td (\(6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 601.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 585.98 Td (Natural gas) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 340.15 585.48 Td (29) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.30 585.53 Td (\(29) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.65 585.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 478.15 585.48 Td (26) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 585.53 Td (\(26) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 585.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 569.98 Td (Total) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 292.50 569.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 340.15 569.48 Td (32) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 569.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.30 569.53 Td (\(32) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.65 569.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.50 569.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 478.15 569.48 Td (32) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 569.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 569.53 Td (\(32) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 569.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 537.35 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 537.35 Td (These contracts are economic hedges of our forecasted purchases of natural gas and electricity) Tj ET Q q 0 0 0 rg BT 536.69 537.35 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 523.55 Td (The impact of these hypothetical price movements would substantially of) Tj ET Q q 0 0 0 rg BT 440.87 523.55 Td (fset the impact that these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 509.75 Td (same price movements would have on the physical exposures being hedged. ) Tj ET Q q 0 0 0 rg BT 459.38 509.75 Td (T) Tj ET Q q 0 0 0 rg BT 465.61 509.75 Td (o the extent the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 495.95 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 103.50 482.15 Td (or liability) Tj ET Q q 0 0 0 rg BT 150.98 482.15 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 468.35 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 454.55 Td (Cr) Tj ET Q q 0 0 0 rg BT 62.70 454.55 Td (edit Risk) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 440.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 426.95 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 426.95 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 49.50 413.15 Td (16 for a discussion of our credit valuation adjustment policy) Tj ET Q q 0 0 0 rg BT 325.66 413.15 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 178.60 376.55 Td (ITEM 7A. QUANTIT) Tj ET Q q 0 0 0 rg BT 287.65 376.55 Td (A) Tj ET Q q 0 0 0 rg BT 295.10 376.55 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 325.46 376.55 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 397.77 376.55 Td (A) Tj ET Q q 0 0 0 rg BT 405.22 376.55 Td (TIVE) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 201.20 362.75 Td (DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 284.61 362.75 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 325.30 362.75 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 379.72 362.75 Td ( RISK) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 348.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 335.15 Td (See Market and Credit Risks in Item 7 above for a discussion of quantitative and qualitative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.35 Td (disclosures about market risks.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 151 0 obj <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 152 0 R>> endobj 152 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (72) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 127.35 734.75 Td (ITEM 8. FINANCIAL) Tj ET Q q 0 0 0 rg BT 239.81 734.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.90 734.75 Td (A) Tj ET Q q 0 0 0 rg BT 263.35 734.75 Td (TEMENTS ) Tj ET Q q 0 0 0 rg BT 321.83 734.75 Td (AND SUPPLEMENT) Tj ET Q q 0 0 0 rg BT 427.36 734.75 Td (AR) Tj ET Q q 0 0 0 rg BT 443.56 734.75 Td (Y) Tj ET Q q 0 0 0 rg BT 451.44 734.75 Td ( DA) Tj ET Q q 0 0 0 rg BT 470.07 734.75 Td (T) Tj ET Q q 0 0 0 rg BT 476.89 734.75 Td (A) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 720.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 195.70 707.15 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 234.14 707.15 Td (T) Tj ET Q q 0 0 0 rg BT 240.95 707.15 Td (O FINANCIAL) Tj ET Q q 0 0 0 rg BT 313.68 707.15 Td ( ST) Tj ET Q q 0 0 0 rg BT 329.05 707.15 Td (A) Tj ET Q q 0 0 0 rg BT 336.08 707.15 Td (TEMENTS ) Tj ET Q q 0 0 0 rg BT 391.35 707.15 Td (AND) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 206.15 693.35 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 267.69 693.35 Td ( ST) Tj ET Q q 0 0 0 rg BT 283.07 693.35 Td (A) Tj ET Q q 0 0 0 rg BT 290.10 693.35 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 336.52 693.35 Td ( SCHEDULES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 679.55 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522 657.05 m 562 657.05 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 659.77 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.25 661.13 Td (Page) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 647.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 647.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 521.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 521.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 395.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 395.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 381.62 Td (Financial Statement Schedules for 2014, 2013 and 2012) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 387.86 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.95 Td (See Note 12 and S-2 for the selected quarterly financial data \(unaudited\) required to be presented in this Item.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 632.2833984375 m 472.802734375 632.2833984375 l s q 0 0 1 rg BT 52.50 633.62 Td (Management) Tj ET Q q 0 0 1 rg BT 107.48 633.62 Td (s Report on Internal Control Over Financial Reporting \(Pinnacle ) Tj ET Q q 0 0 1 rg BT 367.52 633.62 Td (W) Tj ET Q q 0 0 1 rg BT 376.16 633.62 Td (est Capital Corporation\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 632.2833984375 m 558.5 632.2833984375 l s q 0 0 1 rg BT 548.50 633.62 Td (73) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 618.2833984375 m 286.3427734375 618.2833984375 l s q 0 0 1 rg BT 52.50 619.62 Td (Report of Independent Registered Public ) Tj ET Q q 0 0 1 rg BT 217.74 619.62 Td (Accounting Firm) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 618.2833984375 m 558.5 618.2833984375 l s q 0 0 1 rg BT 548.50 619.62 Td (74) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 604.2833984375 m 355.068359375 604.2833984375 l s q 0 0 1 rg BT 52.50 605.62 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 89.25 605.62 Td (W) Tj ET Q q 0 0 1 rg BT 97.89 605.62 Td (est Consolidated Statements of Income for 2014, 2013 and 2012) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 604.2833984375 m 558.5 604.2833984375 l s q 0 0 1 rg BT 548.50 605.62 Td (76) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 590.2833984375 m 422.83203125 590.2833984375 l s q 0 0 1 rg BT 52.50 591.62 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 89.25 591.62 Td (W) Tj ET Q q 0 0 1 rg BT 97.89 591.62 Td (est Consolidated Statements of Comprehensive Income for 2014, 2013, and 2012) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 590.2833984375 m 558.5 590.2833984375 l s q 0 0 1 rg BT 548.50 591.62 Td (77) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 576.2833984375 m 369.765625 576.2833984375 l s q 0 0 1 rg BT 52.50 577.62 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 89.25 577.62 Td (W) Tj ET Q q 0 0 1 rg BT 97.89 577.62 Td (est Consolidated Balance Sheets as of December31, 2014 and 2013) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 576.2833984375 m 558.5 576.2833984375 l s q 0 0 1 rg BT 548.50 577.62 Td (78) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 562.2833984375 m 372.0361328125 562.2833984375 l s q 0 0 1 rg BT 52.50 563.62 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 89.25 563.62 Td (W) Tj ET Q q 0 0 1 rg BT 97.89 563.62 Td (est Consolidated Statements of Cash Flows for 2014, 2013 and 2012) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 562.2833984375 m 558.5 562.2833984375 l s q 0 0 1 rg BT 548.50 563.62 Td (80) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 548.2833984375 m 398.96484375 548.2833984375 l s q 0 0 1 rg BT 52.50 549.62 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 89.25 549.62 Td (W) Tj ET Q q 0 0 1 rg BT 97.89 549.62 Td (est Consolidated Statements of Changes in Equity for 2014, 2013 and 2012) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 548.2833984375 m 558.5 548.2833984375 l s q 0 0 1 rg BT 548.50 549.62 Td (81) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 534.2833984375 m 293.14453125 534.2833984375 l s q 0 0 1 rg BT 52.50 535.62 Td (Notes to Pinnacle ) Tj ET Q q 0 0 1 rg BT 125.36 535.62 Td (W) Tj ET Q q 0 0 1 rg BT 134.00 535.62 Td (est) Tj ET Q q 0 0 1 rg BT 147.89 535.62 Td (s Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 548.5 534.2833984375 m 558.5 534.2833984375 l s q 0 0 1 rg BT 548.50 535.62 Td (82) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 506.2833984375 m 468.232421875 506.2833984375 l s q 0 0 1 rg BT 52.50 507.62 Td (Management) Tj ET Q q 0 0 1 rg BT 107.48 507.62 Td (s Report on Internal Control Over Financial Reporting \(Arizona Public Service Company\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 506.2833984375 m 558.5 506.2833984375 l s q 0 0 1 rg BT 543.50 507.62 Td (143) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 492.2833984375 m 286.3427734375 492.2833984375 l s q 0 0 1 rg BT 52.50 493.62 Td (Report of Independent Registered Public ) Tj ET Q q 0 0 1 rg BT 217.74 493.62 Td (Accounting Firm) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 492.2833984375 m 558.5 492.2833984375 l s q 0 0 1 rg BT 543.50 493.62 Td (144) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 478.2833984375 m 316.9140625 478.2833984375 l s q 0 0 1 rg BT 52.50 479.62 Td (APS Consolidated Statements of Income for 2014, 2013 and 2012) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 478.2833984375 m 558.5 478.2833984375 l s q 0 0 1 rg BT 543.50 479.62 Td (146) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 464.2833984375 m 382.177734375 464.2833984375 l s q 0 0 1 rg BT 52.50 465.62 Td (APS Consolidated Statements of Comprehensive Income for 2014, 2013 and 2012) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 464.2833984375 m 558.5 464.2833984375 l s q 0 0 1 rg BT 543.50 465.62 Td (147) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 450.2833984375 m 331.611328125 450.2833984375 l s q 0 0 1 rg BT 52.50 451.62 Td (APS Consolidated Balance Sheets as of December31, 2014 and 2013) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 450.2833984375 m 558.5 450.2833984375 l s q 0 0 1 rg BT 543.50 451.62 Td (148) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 436.2833984375 m 333.8818359375 436.2833984375 l s q 0 0 1 rg BT 52.50 437.62 Td (APS Consolidated Statements of Cash Flows for 2014, 2013 and 2012) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 436.2833984375 m 558.5 436.2833984375 l s q 0 0 1 rg BT 543.50 437.62 Td (150) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 422.2833984375 m 360.810546875 422.2833984375 l s q 0 0 1 rg BT 52.50 423.62 Td (APS Consolidated Statements of Changes in Equity for 2014, 2013 and 2012) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 422.2833984375 m 558.5 422.2833984375 l s q 0 0 1 rg BT 543.50 423.62 Td (151) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 408.2833984375 m 311.9287109375 408.2833984375 l s q 0 0 1 rg BT 52.50 409.62 Td (Supplemental Notes to ) Tj ET Q q 0 0 1 rg BT 145.55 409.62 Td (APS) Tj ET Q q 0 0 1 rg BT 166.67 409.62 Td (s Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 408.2833984375 m 558.5 408.2833984375 l s q 0 0 1 rg BT 543.50 409.62 Td (152) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 58.5 366.2833984375 m 470.482421875 366.2833984375 l s q 0 0 1 rg BT 58.50 367.62 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 95.25 367.62 Td (W) Tj ET Q q 0 0 1 rg BT 103.89 367.62 Td (est Schedule I Condensed Statements of Comprehensive Income for 2014, 2013 and 2012) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 366.2833984375 m 558.5 366.2833984375 l s q 0 0 1 rg BT 543.50 367.62 Td (159) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 58.5 352.2833984375 m 419.916015625 352.2833984375 l s q 0 0 1 rg BT 58.50 353.62 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 95.25 353.62 Td (W) Tj ET Q q 0 0 1 rg BT 103.89 353.62 Td (est Schedule I Condensed Balance Sheets as of December31, 2014 and 2013) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 352.2833984375 m 558.5 352.2833984375 l s q 0 0 1 rg BT 543.50 353.62 Td (160) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 58.5 338.2833984375 m 422.1865234375 338.2833984375 l s q 0 0 1 rg BT 58.50 339.62 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 95.25 339.62 Td (W) Tj ET Q q 0 0 1 rg BT 103.89 339.62 Td (est Schedule I Condensed Statements of Cash Flows for 2014, 2013 and 2012) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 338.2833984375 m 558.5 338.2833984375 l s q 0 0 1 rg BT 543.50 339.62 Td (161) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 58.5 324.2833984375 m 381.0390625 324.2833984375 l s q 0 0 1 rg BT 58.50 325.62 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 95.25 325.62 Td (W) Tj ET Q q 0 0 1 rg BT 103.89 325.62 Td (est Schedule II Reserve for Uncollectibles for 2014, 2013 and 2012) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 543.5 324.2833984375 m 558.5 324.2833984375 l s q 0 0 1 rg BT 543.50 325.62 Td (162) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 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720.95 Td ( REPOR) Tj ET Q q 0 0 0 rg BT 362.96 720.95 Td (TING) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 182.90 707.15 Td (\(PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.46 707.15 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.49 707.15 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.29 707.15 Td (AL) Tj ET Q q 0 0 0 rg BT 335.63 707.15 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.79 707.15 Td (TION\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 679.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.75 Td (Our management is responsible for establishing and maintaining adequate internal control over ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td (financial reporting, as such term is defined in Exchange ) Tj ET Q q 0 0 0 rg BT 308.17 651.95 Td (Act Rules13a-15\(f\), for Pinnacle ) Tj ET Q q 0 0 0 rg BT 464.45 651.95 Td (W) Tj ET Q q 0 0 0 rg BT 474.38 651.95 Td (est. Management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.15 Td (conducted an evaluation of the ef) Tj ET Q q 0 0 0 rg BT 202.24 638.15 Td (fectiveness of our internal control over financial reporting based on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.35 Td (framework in ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 114.64 624.35 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 180.98 624.35 Td (ol Integrated Framework \(2013\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 343.88 624.35 Td ( issued by the Committee of Sponsoring ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (Or) Tj ET Q q 0 0 0 rg BT 61.43 610.55 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 145.85 610.55 Td (T) Tj ET Q q 0 0 0 rg BT 152.47 610.55 Td (readway Commission. Based on our evaluation under the framework in ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 486.53 610.55 Td (Internal ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 596.75 Td (Contr) Tj ET Q q 0 0 0 rg BT 75.91 596.75 Td (ol Integrated Framework \(2013\),) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 241.69 596.75 Td ( our management concluded that our internal control over financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.95 Td (reporting was ef) Tj ET Q q 0 0 0 rg BT 124.02 582.95 Td (fective as of December31, 2014. ) Tj ET Q q 0 0 0 rg BT 281.88 582.95 Td (The ef) Tj ET Q q 0 0 0 rg BT 311.36 582.95 Td (fectiveness of our internal control over financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (reporting as of December31, 2014 has been audited by Deloitte& ) Tj ET Q q 0 0 0 rg BT 358.11 569.15 Td (T) Tj ET Q q 0 0 0 rg BT 364.33 569.15 Td (ouche LLP) Tj ET Q q 0 0 0 rg BT 413.84 569.15 Td (, an independent registered ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (public accounting firm, as stated in their report which is included herein and also relates to the Company) Tj ET Q q 0 0 0 rg BT 534.29 555.35 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.55 Td (consolidated financial statements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.95 Td (February20, 2015) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 155 0 obj <>] /Rotate 0 /Contents 156 0 R>> endobj 156 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (74) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 734.75 Td (REPOR) Tj ET Q q 0 0 0 rg BT 89.35 734.75 Td (T) Tj ET Q q 0 0 0 rg BT 96.81 734.75 Td ( OF) Tj ET Q q 0 0 0 rg BT 115.23 734.75 Td ( INDEPENDENT) Tj ET Q q 0 0 0 rg BT 201.60 734.75 Td ( REGISTERED PUBLIC ) Tj ET Q q 0 0 0 rg BT 328.46 734.75 Td (ACCOUNTING FIRM) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 720.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.15 Td (T) Tj ET Q q 0 0 0 rg BT 55.72 707.15 Td (o the Board of Directors and Stockholders of) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.35 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 693.35 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 693.35 Td (est Capital Corporation) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.55 Td (Phoenix, ) Tj ET Q q 0 0 0 rg BT 92.31 679.55 Td (Arizona) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 651.95 Td (e have audited the accompanying consolidated balance sheets of Pinnacle ) Tj ET Q q 0 0 0 rg BT 400.27 651.95 Td (W) Tj ET Q q 0 0 0 rg BT 410.20 651.95 Td (est Capital Corporation and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.15 Td (subsidiaries \(the Company\) as of December31, 2014 and 2013 and the related consolidated statements of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.35 Td (income, comprehensive income, changes in equity) Tj ET Q q 0 0 0 rg BT 280.92 624.35 Td (, and cash flows for each of the three years in the period ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (ended December31, 2014. Our audits also included the financial statement schedules listed in the Index at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.75 Td (Item 15. ) Tj ET Q q 0 0 0 rg BT 93.37 596.75 Td (W) Tj ET Q q 0 0 0 rg BT 103.30 596.75 Td (e also have audited the Company) Tj ET Q q 0 0 0 rg BT 258.83 596.75 Td (s internal control over financial reporting as of December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.95 Td (2014, based on criteria established in ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 222.91 582.95 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 289.25 582.95 Td (ol Integrated Framework \(2013\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 452.15 582.95 Td ( issued by the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 183.13 569.15 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 267.56 569.15 Td (T) Tj ET Q q 0 0 0 rg BT 274.18 569.15 Td (readway Commission. ) Tj ET Q q 0 0 0 rg BT 382.57 569.15 Td (The Company) Tj ET Q q 0 0 0 rg BT 451.24 569.15 Td (s management is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (responsible for these financial statements and financial statement schedules, for maintaining ef) Tj ET Q q 0 0 0 rg BT 484.88 555.35 Td (fective internal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.55 Td (control over financial reporting, and for its assessment of the ef) Tj ET Q q 0 0 0 rg BT 340.86 541.55 Td (fectiveness of internal control over financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.75 Td (reporting, included in the accompanying Management) Tj ET Q q 0 0 0 rg BT 301.79 527.75 Td (s Report on Internal Control Over Financial Reporting. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.95 Td (Our responsibility is to express an opinion on these financial statements and financial statement schedules and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.15 Td (an opinion on the Company) Tj ET Q q 0 0 0 rg BT 180.46 500.15 Td (s internal control over financial reporting based on our audits.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.55 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 472.55 Td (e conducted our audits in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 427.66 472.55 Td (Accounting Oversight Board ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.75 Td (\(United States\). ) Tj ET Q q 0 0 0 rg BT 127.22 458.75 Td (Those standards require that we plan and perform the audit to obtain reasonable assurance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.95 Td (about whether the financial statements are free of material misstatement and whether ef) Tj ET Q q 0 0 0 rg BT 451.63 444.95 Td (fective internal control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.15 Td (over financial reporting was maintained in all material respects. Our audits of the financial statements ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.35 Td (included examining, on a test basis, evidence supporting the amounts and disclosures in the financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.55 Td (statements, assessing the accounting principles used and significant estimates made by management, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.75 Td (evaluating the overall financial statement presentation. Our audit of internal control over financial reporting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.95 Td (included obtaining an understanding of internal control over financial reporting, assessing the risk that a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.15 Td (material weakness exists, testing and evaluating the design and operating ef) Tj ET Q q 0 0 0 rg BT 397.07 362.15 Td (fectiveness of internal control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.35 Td (based on the assessed risk. Our audits also included performing such other procedures as we considered ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.55 Td (necessary in the circumstances. ) Tj ET Q q 0 0 0 rg BT 199.38 334.55 Td (W) Tj ET Q q 0 0 0 rg BT 209.31 334.55 Td (e believe that our audits provide a reasonable basis for our opinions.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.95 Td (A) Tj ET Q q 0 0 0 rg BT 57.17 306.95 Td ( company) Tj ET Q q 0 0 0 rg BT 105.40 306.95 Td (s internal control over financial reporting is a process designed by) Tj ET Q q 0 0 0 rg BT 408.04 306.95 Td (, or under the supervision of, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.15 Td (company) Tj ET Q q 0 0 0 rg BT 94.85 293.15 Td (s principal executive and principal financial of) Tj ET Q q 0 0 0 rg BT 308.59 293.15 Td (ficers, or persons performing similar functions, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.35 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 279.35 Td (fected by the company) Tj ET Q q 0 0 0 rg BT 165.84 279.35 Td (s board of directors, management, and other personnel to provide reasonable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.55 Td (assurance regarding the reliability of financial reporting and the preparation of financial statements for external ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.75 Td (purposes in accordance with generally accepted accounting principles. ) Tj ET Q q 0 0 0 rg BT 378.40 251.75 Td (A) Tj ET Q q 0 0 0 rg BT 386.07 251.75 Td ( company) Tj ET Q q 0 0 0 rg BT 434.30 251.75 Td (s internal control over ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.95 Td (financial reporting includes those policies and procedures that \(1\)pertain to the maintenance of records that, in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.15 Td (reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.35 Td (\(2\)provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.55 Td (statements in accordance with generally accepted accounting principles and that receipts and expenditures of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.75 Td (the company are being made only in accordance with authorizations of management and directors of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.95 Td (company; and \(3\)provide reasonable assurance regarding prevention or timely detection of unauthorized ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.15 Td (acquisition, use, or disposition of the company) Tj ET Q q 0 0 0 rg BT 267.34 155.15 Td (s assets that could have a material ef) Tj ET Q q 0 0 0 rg BT 434.78 155.15 Td (fect on the financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.35 Td (statements. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.75 Td (Because of the inherent limitations of internal control over financial reporting, including the possibility of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.95 Td (collusion or improper management override of controls, material misstatements due to error or fraud may not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.15 Td (be prevented or detected on a timely basis. ) Tj ET Q q 0 0 0 rg BT 250.69 86.15 Td (Also, projections of any evaluation of the ef) Tj ET Q q 0 0 0 rg BT 452.95 86.15 Td (fectiveness of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.35 Td (internal control over financial reporting to future periods are subject to the risk that the controls may become ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 157 0 obj <>] /Rotate 0 /Contents 158 0 R>> endobj 158 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (75) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 734.55 Td (inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (may deteriorate.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (In our opinion, the consolidated financial statements referred to above present fairly) Tj ET Q q 0 0 0 rg BT 435.15 693.15 Td (, in all material respects, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (the financial position of Pinnacle ) Tj ET Q q 0 0 0 rg BT 204.19 679.35 Td (W) Tj ET Q q 0 0 0 rg BT 214.12 679.35 Td (est Capital Corporation and subsidiaries as of December31, 2014 and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (2013, and the results of their operations and their cash flows for each of the three years in the period ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (December31, 2014, in conformity with accounting principles generally accepted in the United States of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (America. ) Tj ET Q q 0 0 0 rg BT 97.08 637.95 Td (Also, in our opinion, such financial statement schedules, when considered in relation to the basic ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (consolidated financial statements taken as a whole, present fairly) Tj ET Q q 0 0 0 rg BT 347.34 624.15 Td (, in all material respects, the information set ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (forth therein. ) Tj ET Q q 0 0 0 rg BT 114.65 610.35 Td (Also, in our opinion, the Company maintained, in all material respects, ef) Tj ET Q q 0 0 0 rg BT 452.66 610.35 Td (fective internal control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (over financial reporting as of December31, 2014, based on the criteria established in ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 443.56 596.55 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 509.90 596.55 Td (ol ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (Integrated Framework \(2013\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 187.47 582.75 Td ( issued by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 386.91 582.75 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 471.33 582.75 Td (T) Tj ET Q q 0 0 0 rg BT 477.95 582.75 Td (readway ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (Commission.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 535.22 Td (/s/ Deloitte& Touche LLP) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 308.50 541.46 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 521.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 521.22 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 506.18 Td (Phoenix, Arizona) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 308.50 513.46 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 492.18 Td (February20, 2015) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 308.50 499.46 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 159 0 obj <>] /Rotate 0 /Contents 160 0 R>> endobj 160 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (76) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 734.75 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 734.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 734.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 734.75 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 734.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 734.75 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 184.95 720.95 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.75 720.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 293.48 720.95 Td (A) Tj ET Q q 0 0 0 rg BT 300.94 720.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 375.59 720.95 Td ( INCOME) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 169.45 707.15 Td (\(dollars and shares in thousands, except per share amounts\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 693.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 658.85 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 658.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 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79.85000000000002 m 424 79.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 66.85000000000002 m 424 66.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 64.85000000000002 m 424 64.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 79.85000000000002 m 493 79.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 66.85000000000002 m 493 66.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 64.85000000000002 m 493 64.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 79.85000000000002 m 562 79.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 66.85000000000002 m 562 66.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 64.85000000000002 m 562 64.85000000000002 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 673.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.70 674.93 Td (YearEndedDecember31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 661.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 662.93 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 662.93 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 662.93 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 635.42 Td (OPERATING REVENUES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 635.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 635.42 Td (3,491,632) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 635.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 635.42 Td (3,454,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 635.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 635.42 Td (3,301,804) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 621.42 Td (OPERATING EXPENSES) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 619.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 619.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 619.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 607.42 Td (Fuel and purchased power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 607.42 Td (1,179,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 607.42 Td (1,095,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 607.42 Td (994,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 593.42 Td (Operations and maintenance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 593.42 Td (908,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 593.42 Td (924,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 593.42 Td (884,769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 579.42 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 579.42 Td (417,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 579.42 Td (415,708) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 579.42 Td (404,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 565.42 Td (Taxes other than income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 565.42 Td (172,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 565.42 Td (164,167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 565.42 Td (159,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 551.42 Td (Other expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 551.42 Td (2,883) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 551.42 Td (7,994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 551.42 Td (6,831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 537.42 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 537.42 Td (2,680,390) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 537.42 Td (2,608,305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 537.42 Td (2,450,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 523.42 Td (OPERATING INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 523.42 Td (811,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 523.42 Td (846,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 523.42 Td (851,755) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 509.42 Td (OTHER INCOME \(DEDUCTIONS\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 507.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 507.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 507.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 495.42 Td (Allowance for equity funds used during construction \(Note 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 495.42 Td (30,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 495.42 Td (25,581) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 495.42 Td (22,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 481.42 Td (Other income \(Note 17\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 481.42 Td (9,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 481.42 Td (1,704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 481.42 Td (1,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 467.42 Td (Other expense \(Note 17\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 467.47 Td (\(21,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 467.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 467.47 Td (\(16,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 467.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 467.47 Td (\(19,842) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 467.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 453.42 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 453.42 Td (18,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 453.42 Td (11,261) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 453.42 Td (4,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 439.42 Td (INTEREST EXPENSE) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 437.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 437.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 437.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 425.42 Td (Interest charges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 425.42 Td (200,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 425.42 Td (201,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 425.42 Td (214,616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 411.42 Td (Allowance for borrowed funds used during construction \(Note 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 411.47 Td (\(15,457) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 411.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 411.47 Td (\(14,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 411.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 411.47 Td (\(14,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 411.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 397.42 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 397.42 Td (185,493) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 397.42 Td (187,027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 397.42 Td (199,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 383.42 Td (INCOME FROM CONTINUING OPERATIONS BEFORE INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 373.42 Td (TAXES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 373.52 Td (644,401) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 373.52 Td (670,557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 373.52 Td (656,310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 359.42 Td (INCOME TAXES \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 359.42 Td (220,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 359.42 Td (230,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 359.42 Td (237,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 345.42 Td (INCOME FROM CONTINUING OPERATIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 345.42 Td (423,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 345.42 Td (439,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 345.42 Td (418,993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 331.42 Td (LOSS FROM DISCONTINUED OPERATIONS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 329.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 329.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 329.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 317.42 Td (Net of income tax benefit of $\(3,813\) \(Note 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 316.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 316.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 316.57 Td (\(5,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 316.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 302.42 Td (NET INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 302.42 Td (423,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 302.42 Td (439,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 302.42 Td (413,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 288.42 Td (Less: Net income attributable to noncontrolling interests \(Note 18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 288.42 Td (26,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 288.42 Td (33,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 288.42 Td (31,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 274.42 Td (NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 274.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 274.42 Td (397,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 274.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 274.42 Td (406,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 274.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 274.42 Td (381,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 260.42 Td (WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 250.42 Td (BASIC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 250.52 Td (110,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 250.52 Td (109,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 250.52 Td (109,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 236.42 Td (WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 226.42 Td (DILUTED) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 226.52 Td (111,178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 226.52 Td (110,806) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 226.52 Td (110,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 212.42 Td (EARNINGS PER WEIGHTED-AVERAGE COMMON SHARE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 202.42 Td (OUTSTANDING) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 200.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 200.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 200.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 188.42 Td (Income from continuing operations attributable to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 178.42 Td ( basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 178.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 178.52 Td (3.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 178.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 178.52 Td (3.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 178.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 178.52 Td (3.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 164.42 Td (Net income attributable to common shareholders basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 164.42 Td (3.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 164.42 Td (3.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 164.42 Td (3.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 150.42 Td (Income from continuing operations attributable to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 140.42 Td ( diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 140.52 Td (3.58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 140.52 Td (3.66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 140.52 Td (3.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 126.42 Td (Net income attributable to common shareholders diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 126.42 Td (3.58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 126.42 Td (3.66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 126.42 Td (3.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 112.42 Td (AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 110.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 110.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 110.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 98.42 Td (Income from continuing operations, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 98.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 98.42 Td (397,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 98.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 98.42 Td (406,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 98.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 98.42 Td (387,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 84.42 Td (Discontinued operations, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 84.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 84.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 84.47 Td (\(5,838) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 84.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 70.42 Td (Net income attributable to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 70.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 70.42 Td (397,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 70.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 70.42 Td (406,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 70.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 70.42 Td (381,542) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 52.55 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.38 52.55 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 142.17 52.55 Td (W) Tj ET Q q 0 0 0 rg BT 150.81 52.55 Td (est) Tj ET Q q 0 0 0 rg BT 164.70 52.55 Td (s Consolidated Financial Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 161 0 obj <>] /Rotate 0 /Contents 162 0 R>> endobj 162 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (77) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 734.75 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 734.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 734.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 734.75 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 734.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 734.75 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 132.05 720.95 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 200.85 720.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 240.58 720.95 Td (A) Tj ET Q q 0 0 0 rg BT 248.04 720.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 322.69 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400.35 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 139.30 400.35 Td (W) Tj ET Q q 0 0 0 rg BT 147.94 400.35 Td (est) Tj ET Q q 0 0 0 rg BT 161.82 400.35 Td (s Consolidated Financial Statements.) 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0.9333333333333333 1 rg /GS0 gs 50.00 284.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 284.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 284.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 284.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 256.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 256.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 256.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 256.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 228.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 228.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 228.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 228.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 200.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 200.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 200.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 200.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 172.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 172.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 172.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 172.85 65.00 -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 428 670.85 m 493 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 670.85 m 497 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 670.85 m 562 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 670.85 m 493 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 658.85 m 493 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 670.85 m 497 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 670.85 m 562 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 658.85 m 562 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 462.85 m 493 462.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 462.85 m 562 462.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 448.85 m 493 448.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 448.85 m 562 448.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 392.85 m 493 392.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 392.85 m 562 392.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 378.85 m 493 378.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 378.85 m 562 378.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 336.85 m 493 336.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 336.85 m 562 336.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 256.85 m 493 256.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 256.85 m 562 256.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 242.85000000000002 m 493 242.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 242.85000000000002 m 562 242.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 186.85000000000002 m 493 186.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 186.85000000000002 m 562 186.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 172.85000000000002 m 493 172.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 172.85000000000002 m 562 172.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 159.85000000000002 m 493 159.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 157.85000000000002 m 493 157.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 159.85000000000002 m 562 159.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 157.85000000000002 m 562 157.85000000000002 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 673.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.25 674.93 Td (December31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 661.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 662.93 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 662.93 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 649.42 Td (ASSETS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 647.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 647.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 635.42 Td (CURRENT ASSETS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 633.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 633.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 621.42 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 621.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 621.42 Td (7,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 621.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 621.42 Td (9,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 607.42 Td (Customer and other receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 607.42 Td (297,740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 607.42 Td (299,904) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 593.42 Td (Accrued unbilled revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 593.42 Td (100,533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 593.42 Td (96,796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 579.42 Td (Allowance for doubtful accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 579.47 Td (\(3,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 579.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 579.47 Td (\(3,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 579.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 565.42 Td (Materials and supplies \(at average cost\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 565.42 Td (218,889) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 565.42 Td (221,682) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 551.42 Td (Fossil fuel \(at average cost\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 551.42 Td (37,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 551.42 Td (38,028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 537.42 Td (Deferred income taxes \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 537.42 Td (122,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 537.42 Td (91,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 523.42 Td (Income tax receivable \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 523.42 Td (3,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 523.42 Td (135,517) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 509.42 Td (Assets from risk management activities \(Note 16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 509.42 Td (13,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 509.42 Td (17,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 495.42 Td (Deferred fuel and purchased power regulatory asset \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 495.42 Td (6,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 495.42 Td (20,755) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 481.42 Td (Other regulatory assets \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 481.42 Td (129,808) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 481.42 Td (76,388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 467.42 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 467.42 Td (38,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 467.42 Td (39,895) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 453.42 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 453.42 Td (973,435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 453.42 Td (1,043,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 439.42 Td (INVESTMENTS AND OTHER ASSETS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 437.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 437.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 425.42 Td (Assets from risk management activities \(Note 16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 425.42 Td (17,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 425.42 Td (23,815) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 411.42 Td (Nuclear decommissioning trust \(Notes 13 and 19\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 411.42 Td (713,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 411.42 Td (642,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 397.42 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 397.42 Td (54,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 397.42 Td (60,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 383.42 Td (Total investments and other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 383.42 Td (785,533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 383.42 Td (726,697) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 369.42 Td (PROPERTY, PLANT AND EQUIPMENT \(Notes 1, 6 and 9\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 367.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 367.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 355.42 Td (Plant in service and held for future use) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.10 355.42 Td (15,543,063) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.10 355.42 Td (15,200,464) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 341.42 Td (Accumulated depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 341.47 Td (\(5,397,751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 341.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 341.47 Td (\(5,300,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 341.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 327.42 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.10 327.42 Td (10,145,312) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 327.42 Td (9,900,245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 313.42 Td (Construction work in progress) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 313.42 Td (682,807) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 313.42 Td (581,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 299.42 Td (Palo Verde sale leaseback, net of accumulated depreciation of $229,795 and $225,925) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 289.42 Td (\(Note 18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 289.52 Td (121,255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 289.52 Td (125,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 275.42 Td (Intangible assets, net of accumulated amortization of $489,538 and $439,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 275.42 Td (119,755) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 275.42 Td (157,689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 261.42 Td (Nuclear fuel, net of accumulated amortization of $143,554 and $146,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 261.42 Td (125,201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 261.42 Td (124,557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 247.42 Td (Total property, plant and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.10 247.42 Td (11,194,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.10 247.42 Td (10,888,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 233.42 Td (DEFERRED DEBITS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 231.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 231.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 219.42 Td (Regulatory assets \(Notes 1, 3 and 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 219.42 Td (1,054,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 219.42 Td (711,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 205.42 Td (Assets for other postretirement benefits \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 205.42 Td (152,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 205.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 191.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 191.42 Td (153,857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 191.42 Td (137,683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 177.42 Td (Total deferred debits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 177.42 Td (1,360,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 177.42 Td (849,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 163.42 Td (TOTAL ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 163.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.10 163.42 Td (14,313,532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 163.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.10 163.42 Td (13,508,686) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 145.55 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 133.55 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 139.30 133.55 Td (W) Tj ET Q q 0 0 0 rg BT 147.94 133.55 Td (est) Tj ET Q q 0 0 0 rg BT 161.82 133.55 Td (s Consolidated Financial Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 165 0 obj <>] /Rotate 0 /Contents 166 0 R>> endobj 166 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (79) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 720.75 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 720.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 720.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 720.75 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 720.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 720.75 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 206.40 706.95 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 275.20 706.95 Td (TED BALANCE SHEETS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 693.15 Td (\(dollars in thousands\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 679.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 644.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 644.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 644.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 644.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 616.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 616.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 616.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 616.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 588.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 588.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 588.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 588.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 560.85 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0.9333333333333333 1 rg /GS0 gs 50.00 280.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 280.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 280.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 280.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 252.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 252.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 252.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 252.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 214.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 214.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 214.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 214.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 186.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 186.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 186.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 186.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 158.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 158.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 158.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 158.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 130.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 130.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 130.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 130.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 102.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 102.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 102.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 102.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 74.85 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 74.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 74.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 74.85 65.00 -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 428 656.85 m 493 656.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 656.85 m 497 656.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 656.85 m 562 656.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 656.85 m 493 656.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 644.85 m 493 644.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 656.85 m 497 656.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 656.85 m 562 656.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 644.85 m 562 644.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 462.85 m 493 462.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 462.85 m 562 462.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 448.85 m 493 448.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 434.85 m 493 434.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 448.85 m 562 448.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 434.85 m 562 434.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 280.85 m 493 280.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 280.85 m 562 280.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 266.85 m 493 266.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 266.85 m 562 266.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 200.85000000000002 m 493 200.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 200.85000000000002 m 562 200.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 186.85000000000002 m 493 186.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 186.85000000000002 m 562 186.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 172.85000000000002 m 493 172.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 172.85000000000002 m 562 172.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 130.85000000000002 m 493 130.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 130.85000000000002 m 562 130.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 116.85000000000002 m 493 116.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 116.85000000000002 m 562 116.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 88.85000000000002 m 493 88.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 88.85000000000002 m 562 88.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 74.85000000000002 m 493 74.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 74.85000000000002 m 562 74.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 61.85000000000002 m 493 61.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 59.85000000000002 m 493 59.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 61.85000000000002 m 562 61.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 59.85000000000002 m 562 59.85000000000002 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 659.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.25 660.93 Td (December31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 647.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 648.93 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 648.93 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 635.42 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 633.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 633.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 621.42 Td (CURRENT LIABILITIES) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 619.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 619.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 607.42 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 607.42 Td (295,211) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 607.42 Td (284,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 593.42 Td (Accrued taxes \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 593.42 Td (140,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 593.42 Td (130,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 579.42 Td (Accrued interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 579.42 Td (52,603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 579.42 Td (48,351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 565.42 Td (Common dividends payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 565.42 Td (65,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 565.42 Td (62,528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 551.42 Td (Short-term borrowings \(Note 5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 551.42 Td (147,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 551.42 Td (153,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 537.42 Td (Current maturities of long-term debt \(Note 6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 537.42 Td (383,570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 537.42 Td (540,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 523.42 Td (Customer deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 523.42 Td (72,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 523.42 Td (76,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 509.42 Td (Liabilities from risk management activities \(Note 16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 509.42 Td (59,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 509.42 Td (31,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 495.42 Td (Liability for asset retirements \(Note 11\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 495.42 Td (32,462) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 495.42 Td (32,896) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 481.42 Td (Regulatory liabilities \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 481.42 Td (130,549) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 481.42 Td (99,273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 467.42 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 467.42 Td (178,962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 467.42 Td (158,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 453.42 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 453.42 Td (1,559,143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 453.42 Td (1,618,644) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 439.42 Td (LONG-TERM DEBT LESS CURRENT MATURITIES \(Note 6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 439.42 Td (3,031,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 439.42 Td (2,796,465) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 425.42 Td (DEFERRED CREDITS AND OTHER) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 423.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 423.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 411.42 Td (Deferred income taxes \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 411.42 Td (2,582,636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 411.42 Td (2,351,882) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 397.42 Td (Regulatory liabilities \(Notes 1, 3, 4 and 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 397.42 Td (1,051,196) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 397.42 Td (801,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 383.42 Td (Liability for asset retirements \(Note 11\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 383.42 Td (358,288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 383.42 Td (313,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 369.42 Td (Liabilities for pension and other postretirement benefits \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 369.42 Td (453,736) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 369.42 Td (513,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 355.42 Td (Liabilities from risk management activities \(Note 16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 355.42 Td (50,602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 355.42 Td (70,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 341.42 Td (Customer advances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 341.42 Td (123,052) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 341.42 Td (114,480) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 327.42 Td (Coal mine reclamation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 327.42 Td (198,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 327.42 Td (207,453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 313.42 Td (Deferred investment tax credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 313.42 Td (178,607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 313.42 Td (152,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 299.42 Td (Unrecognized tax benefits \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 299.42 Td (19,377) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 299.42 Td (42,209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 285.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 285.42 Td (188,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 285.42 Td (185,659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 271.42 Td (Total deferred credits and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 271.42 Td (5,204,072) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 271.42 Td (4,753,117) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 257.42 Td (COMMITMENTS AND CONTINGENCIES \(SEE NOTES\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 243.42 Td (EQUITY) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 241.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 241.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 229.42 Td (Common stock, no par value; authorized 150,000,000 shares, issued 110,649,762 at end of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 219.42 Td (2014 and 110,280,703 at end of 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 219.52 Td (2,512,970) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 219.52 Td (2,491,558) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 205.42 Td (Treasury stock at cost; 78,400 shares at end of 2014 and 98,944 shares at end of 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 205.47 Td (\(3,401) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 205.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 205.47 Td (\(4,308) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 205.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 191.42 Td (Total common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 191.42 Td (2,509,569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 191.42 Td (2,487,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 177.42 Td (Retained earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 177.42 Td (1,926,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 177.42 Td (1,785,273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 163.42 Td (Accumulated other comprehensive loss:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 161.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 161.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 149.42 Td (Pension and other postretirement benefits \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 149.47 Td (\(57,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 149.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 149.47 Td (\(54,995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 149.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 135.42 Td (Derivative instruments \(Note 16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 135.47 Td (\(10,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 135.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 135.47 Td (\(23,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 135.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.50 121.42 Td (Total accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 121.47 Td (\(68,141) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 121.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 121.47 Td (\(78,053) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 121.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 107.42 Td (Total shareholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 107.42 Td (4,367,493) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 107.42 Td (4,194,470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 93.42 Td (Noncontrolling interests \(Note 18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 93.42 Td (151,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 93.42 Td (145,990) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 79.42 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 79.42 Td (4,519,102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 79.42 Td (4,340,460) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 65.42 Td (TOTAL LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 65.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.10 65.42 Td (14,313,532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 65.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.10 65.42 Td (13,508,686) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 47.55 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.38 47.55 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 142.17 47.55 Td (W) Tj ET Q q 0 0 0 rg BT 150.81 47.55 Td (est) Tj ET Q q 0 0 0 rg BT 164.70 47.55 Td (s Consolidated Financial Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 167 0 obj <>] /Rotate 0 /Contents 168 0 R>> endobj 168 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (80) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 734.75 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 734.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 734.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 734.75 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 734.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 734.75 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 171.05 720.95 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 239.85 720.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 279.58 720.95 Td (A) Tj ET Q q 0 0 0 rg BT 287.04 720.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 361.69 720.95 Td ( CASH FLOWS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 707.15 Td (\(dollars in thousands\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 658.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 658.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 658.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 658.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 658.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 658.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 634.85 309.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 634.85 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 634.85 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 634.85 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 634.85 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 634.85 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 598.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 598.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 598.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 598.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 598.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 598.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 574.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 574.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 574.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 574.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 574.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 574.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 550.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 550.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 550.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 550.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 550.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 550.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 526.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 526.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 526.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 526.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 526.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 526.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 502.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 502.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 502.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 502.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 502.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 502.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 478.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 478.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 478.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 478.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 478.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 478.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 454.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 454.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 454.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 454.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 454.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 454.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 430.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 430.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 430.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 430.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 430.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 430.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 406.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 406.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 406.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 406.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 406.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 406.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 382.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 382.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 382.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 382.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 382.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 382.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 358.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 358.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 358.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 358.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 358.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 358.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 334.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 334.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 334.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 334.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 334.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 334.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 310.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 310.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 310.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 310.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 310.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 310.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 286.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 286.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 286.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 286.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 286.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 286.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 262.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 262.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 262.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 262.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 262.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 262.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 238.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 238.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 238.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 238.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 238.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 238.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 214.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 214.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 214.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 214.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 214.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 214.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 190.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 190.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 190.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 190.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 190.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 190.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 166.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 166.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 166.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 166.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 166.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 166.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 142.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 142.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 142.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 142.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 142.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 142.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 118.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 118.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 118.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 118.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 118.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 118.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 94.85 309.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 94.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 94.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 94.85 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 94.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 94.85 65.00 -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 359 670.85 m 424 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 670.85 m 428 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 670.85 m 493 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 670.85 m 497 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 670.85 m 562 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 670.85 m 424 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 658.85 m 424 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 670.85 m 428 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 670.85 m 493 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 658.85 m 493 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 670.85 m 497 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 670.85 m 562 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 658.85 m 562 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 334.85 m 424 334.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 334.85 m 493 334.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 334.85 m 562 334.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 322.85 m 424 322.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 322.85 m 493 322.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 322.85 m 562 322.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 238.85000000000002 m 424 238.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 238.85000000000002 m 493 238.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 238.85000000000002 m 562 238.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 226.85000000000002 m 424 226.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 226.85000000000002 m 493 226.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 226.85000000000002 m 562 226.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 130.85000000000002 m 424 130.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 130.85000000000002 m 493 130.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 130.85000000000002 m 562 130.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 118.85000000000002 m 424 118.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 118.85000000000002 m 493 118.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 118.85000000000002 m 562 118.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 94.85000000000002 m 424 94.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 83.85000000000002 m 424 83.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 81.85000000000002 m 424 81.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 94.85000000000002 m 493 94.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 83.85000000000002 m 493 83.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 81.85000000000002 m 493 81.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 94.85000000000002 m 562 94.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 83.85000000000002 m 562 83.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 81.85000000000002 m 562 81.85000000000002 l s BT /F2 9.50 Tf ET q 0 0 0 rg BT 52.50 673.92 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.70 674.93 Td (YearEndedDecember31,) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 52.50 661.92 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 662.93 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 662.93 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 662.93 Td (2012) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 649.76 Td (CASH FLOWS FROM OPERATING ACTIVITIES) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.50 649.76 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.50 649.76 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.50 649.76 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 637.76 Td (Net Income) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 361.50 637.76 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 389.40 637.76 Td (423,696) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 430.50 637.76 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 458.40 637.76 Td (439,966) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 499.50 637.76 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 527.40 637.76 Td (413,164) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 625.76 Td (Adjustments to reconcile net income to net cash provided by operating) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 616.26 Td (activities:) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.50 615.41 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.50 615.41 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.50 615.41 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 601.76 Td (Depreciation and amortization including nuclear fuel) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 389.40 601.76 Td (496,487) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 458.40 601.76 Td (492,322) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 527.40 601.76 Td (481,262) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 589.76 Td (Deferred fuel and purchased power) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 391.00 589.76 Td (\(26,927) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 589.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 463.15 589.76 Td (21,678) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.15 589.76 Td (71,573) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 577.76 Td (Deferred fuel and purchased power amortization) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 394.15 577.76 Td (40,757) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 463.15 577.76 Td (31,190) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 524.25 577.76 Td (\(116,716) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 577.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 565.76 Td (Allowance for equity funds used during construction) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 391.00 565.76 Td (\(30,790) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 565.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 460.00 565.76 Td (\(25,581) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 565.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 529.00 565.76 Td (\(22,436) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 565.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 553.76 Td (Deferred income taxes) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 389.40 553.76 Td (159,023) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 458.40 553.76 Td (249,296) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 527.40 553.76 Td (187,023) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 541.76 Td (Deferred investment tax credit) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 394.15 541.76 Td (26,246) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 463.15 541.76 Td (52,542) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.15 541.76 Td (41,579) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 529.76 Td (Change in derivative instruments fair value) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 406.05 529.76 Td (339) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 475.05 529.76 Td (534) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 540.85 529.76 Td (\(749) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 529.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 517.76 Td (Changes in current assets and liabilities:) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.50 517.76 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.50 517.76 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.50 517.76 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 70.50 505.76 Td (Customer and other receivables) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 391.00 505.76 Td (\(52,672) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 505.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 460.00 505.76 Td (\(44,991) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 505.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.15 505.76 Td (14,587) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 70.50 493.76 Td (Accrued unbilled revenues) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 395.75 493.76 Td (\(3,737) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 493.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 464.75 493.76 Td (\(1,951) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 493.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.15 493.76 Td (30,394) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 70.50 481.76 Td (Materials, supplies and fossil fuel) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 398.90 481.76 Td (3,724) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 460.00 481.76 Td (\(11,878) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 481.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 529.00 481.76 Td (\(23,043) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 481.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 70.50 469.76 Td (Income tax receivable) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 389.40 469.76 Td (132,419) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.25 469.76 Td (\(133,094) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 469.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 533.75 469.76 Td (\(4,043) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 469.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 70.50 457.76 Td (Other current assets) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 398.90 457.76 Td (4,384) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 460.00 457.76 Td (\(17,913) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 457.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 529.00 457.76 Td (\(27,352) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 457.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 70.50 445.76 Td (Accounts payable) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 402.85 445.76 Td (\(353) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 445.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 463.15 445.76 Td (45,414) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 529.00 445.76 Td (\(96,600) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 445.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 70.50 433.76 Td (Accrued taxes) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 398.90 433.76 Td (9,615) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 467.90 433.76 Td (6,059) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.15 433.76 Td (12,736) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 70.50 421.76 Td (Other current liabilities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 394.15 421.76 Td (17,892) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 464.75 421.76 Td (\(7,513) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 421.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.15 421.76 Td (23,869) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 409.76 Td (Change in margin and collateral accounts assets) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 402.85 409.76 Td (\(343) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 409.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 475.05 409.76 Td (993) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 536.90 409.76 Td (2,216) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 397.76 Td (Change in margin and collateral accounts liabilities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 391.00 397.76 Td (\(24,975) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 397.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 463.15 397.76 Td (12,355) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 527.40 397.76 Td (137,785) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 385.76 Td (Change in long-term income tax receivable) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 410.80 385.76 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 458.40 385.76 Td (137,270) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 533.75 385.76 Td (\(1,756) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 385.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 373.76 Td (Change in unrecognized tax benefits) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 398.90 373.76 Td (2,778) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 460.00 373.76 Td (\(91,425) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 373.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 533.75 373.76 Td (\(2,583) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 373.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 361.76 Td (Change in long-term regulatory liabilities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 394.15 361.76 Td (59,618) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 463.15 361.76 Td (64,473) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.15 361.76 Td (13,539) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 349.76 Td (Change in other long-term assets) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 391.00 349.76 Td (\(59,344) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 349.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 460.00 349.76 Td (\(41,757) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 349.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 536.90 349.76 Td (6,872) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 337.76 Td (Change in other long-term liabilities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 391.00 337.76 Td (\(78,210) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 337.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 460.00 337.76 Td (\(24,682) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 337.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.15 337.76 Td (29,801) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 325.76 Td (Net cash flow provided by operating activities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 382.25 325.76 Td (1,099,627) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 451.25 325.76 Td (1,153,307) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 520.25 325.76 Td (1,171,122) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 313.76 Td (CASH FLOWS FROM INVESTING ACTIVITIES) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.50 313.76 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.50 313.76 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.50 313.76 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 301.76 Td (Capital expenditures) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 386.25 301.76 Td (\(910,634) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 301.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 448.10 301.76 Td (\(1,016,322) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 301.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 524.25 301.76 Td (\(889,551) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 301.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 289.76 Td (Contributions in aid of construction) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 394.15 289.76 Td (20,325) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 463.15 289.76 Td (41,090) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.15 289.76 Td (49,876) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 277.76 Td (Allowance for borrowed funds used during construction) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 391.00 277.76 Td (\(15,457) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 277.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 460.00 277.76 Td (\(14,861) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 277.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 529.00 277.76 Td (\(14,971) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 277.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 265.76 Td (Proceeds from nuclear decommissioning trust sales) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 389.40 265.76 Td (356,195) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 458.40 265.76 Td (446,025) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 527.40 265.76 Td (417,603) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 253.76 Td (Investment in nuclear decommissioning trust) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 386.25 253.76 Td (\(373,444) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 253.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.25 253.76 Td (\(463,274) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 253.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 524.25 253.76 Td (\(434,852) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 253.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 241.76 Td (Other) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 406.05 241.76 Td (347) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 464.75 241.76 Td (\(2,059) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 241.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 533.75 241.76 Td (\(1,099) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 241.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 229.76 Td (Net cash flow used for investing activities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 386.25 229.76 Td (\(922,668) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 229.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 448.10 229.76 Td (\(1,009,401) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 229.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 524.25 229.76 Td (\(872,994) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 229.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 217.76 Td (CASH FLOWS FROM FINANCING ACTIVITIES) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.50 217.76 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.50 217.76 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.50 217.76 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 205.76 Td (Issuance of long-term debt) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 389.40 205.76 Td (731,126) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 458.40 205.76 Td (136,307) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 527.40 205.76 Td (476,081) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 193.76 Td (Repayment of long-term debt) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 386.25 193.76 Td (\(652,578) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 193.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.25 193.76 Td (\(122,828) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 193.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 524.25 193.76 Td (\(654,286) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 193.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 181.76 Td (Short-term borrowings and payments net) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 395.75 181.76 Td (\(5,725) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 181.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 463.15 181.76 Td (60,950) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.15 181.76 Td (92,175) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 169.76 Td (Dividends paid on common stock) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 386.25 169.76 Td (\(246,671) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 169.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.25 169.76 Td (\(235,244) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 169.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 524.25 169.76 Td (\(225,075) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 169.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 157.76 Td (Common stock equity issuance) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 394.15 157.76 Td (15,288) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 463.15 157.76 Td (17,319) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.15 157.76 Td (15,955) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 145.76 Td (Distributions to noncontrolling interests) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 391.00 145.76 Td (\(20,482) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 145.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 460.00 145.76 Td (\(17,385) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 145.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 529.00 145.76 Td (\(10,529) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 145.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 133.76 Td (Other) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 406.05 133.76 Td (161) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 475.05 133.76 Td (299) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 544.05 133.76 Td (170) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 58.50 121.76 Td (Net cash flow used for financing activities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 386.25 121.76 Td (\(178,881) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 121.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.25 121.76 Td (\(160,582) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 121.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 524.25 121.76 Td (\(305,509) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 121.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 109.76 Td (NET DECREASE IN CASH AND CASH EQUIVALENTS) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 395.75 109.76 Td (\(1,922) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 420.30 109.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 460.00 109.76 Td (\(16,676) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 489.30 109.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 533.75 109.76 Td (\(7,381) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.30 109.76 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 97.76 Td (CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 398.90 97.76 Td (9,526) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 463.15 97.76 Td (26,202) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.15 97.76 Td (33,583) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 85.76 Td (CASH AND CASH EQUIVALENTS AT END OF YEAR) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 361.50 85.76 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 398.90 85.76 Td (7,604) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 430.50 85.76 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 467.90 85.76 Td (9,526) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 499.50 85.76 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.15 85.76 Td (26,202) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 59.35 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 141.80 59.35 Td (W) Tj ET Q q 0 0 0 rg BT 150.44 59.35 Td (est) Tj ET Q q 0 0 0 rg BT 164.32 59.35 Td (s Consolidated Financial Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 169 0 obj <>] /Rotate 0 /Contents 170 0 R>> endobj 170 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (81) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 734.75 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 734.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 734.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 734.75 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 734.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 734.75 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 149.05 720.95 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 217.85 720.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 257.58 720.95 Td (A) Tj ET Q q 0 0 0 rg BT 265.04 720.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 339.69 720.95 Td ( CHANGES IN EQUITY) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 195.00 707.15 Td (\(dollars in thousands, except per share amounts\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 632.65 113.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 632.65 47.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 632.65 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 632.65 43.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 632.65 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 632.65 38.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.00 632.65 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 632.65 40.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 632.65 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 632.65 45.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 632.65 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 632.65 57.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 632.65 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 632.65 55.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 632.65 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 632.65 47.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 598.65 113.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 598.65 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 598.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 598.65 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 598.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 598.65 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.00 598.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 598.65 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 598.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 598.65 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 598.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 598.65 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 598.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 598.65 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 598.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 598.65 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 561.65 113.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 561.65 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 561.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 561.65 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 561.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 561.65 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.00 561.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 561.65 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 561.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 561.65 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 561.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 561.65 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 561.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 561.65 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 561.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 561.65 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 533.65 113.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 533.65 47.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 533.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 533.65 43.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 533.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 533.65 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.00 533.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 533.65 40.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 533.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 533.65 45.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 533.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 533.65 57.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 533.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 533.65 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 533.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 533.65 47.00 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0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 467.65 m 347 467.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 487.65 m 392 487.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 467.65 m 392 467.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 487.65 m 396 487.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 467.65 m 396 467.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 487.65 m 453 487.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 467.65 m 453 467.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 487.65 m 457 487.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 467.65 m 457 467.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 487.65 m 512 487.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 467.65 m 512 467.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 487.65 m 516 487.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 467.65 m 516 467.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i 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0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 306.65 m 512 306.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 326.65 m 516 326.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 306.65 m 516 306.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 326.65 m 563 326.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 306.65 m 563 306.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 165.64999999999998 m 210 165.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 146.64999999999998 m 210 146.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 144.64999999999998 m 210 144.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 165.64999999999998 m 214 165.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 146.64999999999998 m 214 146.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 144.64999999999998 m 214 144.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 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3 M 299 146.64999999999998 m 303 146.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299 144.64999999999998 m 303 144.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 165.64999999999998 m 343 165.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 146.64999999999998 m 343 146.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 144.64999999999998 m 343 144.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 165.64999999999998 m 347 165.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 146.64999999999998 m 347 146.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 144.64999999999998 m 347 144.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 165.64999999999998 m 392 165.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 146.64999999999998 m 392 146.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 144.64999999999998 m 392 144.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 165.64999999999998 m 396 165.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 146.64999999999998 m 396 146.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 144.64999999999998 m 396 144.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 165.64999999999998 m 453 165.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 146.64999999999998 m 453 146.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 144.64999999999998 m 453 144.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 165.64999999999998 m 457 165.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 146.64999999999998 m 457 146.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 144.64999999999998 m 457 144.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 165.64999999999998 m 512 165.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 146.64999999999998 m 512 146.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 144.64999999999998 m 512 144.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 165.64999999999998 m 516 165.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 146.64999999999998 m 516 146.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 144.64999999999998 m 516 144.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 165.64999999999998 m 563 165.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 146.64999999999998 m 563 146.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 144.64999999999998 m 563 144.64999999999998 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 184.45 650.90 Td (Common Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.30 650.90 Td (Treasury Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.75 658.90 Td (Retained) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.75 650.90 Td (Earnings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.65 674.90 Td (Accumulated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.85 666.90 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.85 658.90 Td (Comprehensive) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.75 650.90 Td (Income \(Loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.55 658.90 Td (Noncontrolling) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.40 650.90 Td (Interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.80 650.90 Td (Total) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.00 637.11 Td (Shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 220.20 637.11 Td (Amount) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 267.50 637.11 Td (Shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.70 637.11 Td (Amount) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 617.11 Td (Balance, December 31, 2011) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 166.75 616.90 Td (109,356,974) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.50 616.90 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.75 616.90 Td (2,444,247) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.10 616.90 Td (\(111,161) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.80 616.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.50 616.90 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.10 616.90 Td (\(4,717) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 616.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.50 616.90 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 616.90 Td (1,534,483) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.50 616.90 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.10 616.90 Td (\(152,163) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.80 616.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.50 616.90 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.75 616.90 Td (108,736) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.50 616.90 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 616.90 Td (3,930,586) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 603.11 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.75 602.90 Td (381,542) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.80 602.90 Td (31,622) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.75 602.90 Td (413,164) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 589.11 Td (Other comprehensive income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 588.90 Td (38,155) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.75 588.90 Td (38,155) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 575.11 Td (Dividends on common stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 566.11 Td (\($2.67 per share\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.10 565.90 Td (\(291,923) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 565.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.10 565.90 Td (\(291,923) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 565.90 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 552.11 Td (Issuance of common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.75 551.90 Td (480,983) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.75 551.90 Td (22,676) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.75 551.90 Td (22,676) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 538.11 Td (Purchase of treasury stock \(a\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.10 537.90 Td (\(89,629) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.80 537.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.10 537.90 Td (\(4,607) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 537.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.10 537.90 Td (\(4,607) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 537.90 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 524.11 Td (Stock-based compensation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 515.11 Td (and other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.80 514.90 Td (105,598) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.75 514.90 Td (5,113) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.75 514.90 Td (5,113) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 501.11 Td (Net capital activities by) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 492.11 Td (noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.10 491.90 Td (\(10,875) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 508.80 491.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.10 491.90 Td (\(10,875) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 491.90 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 472.11 Td (Balance, December 31, 2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 166.75 471.90 Td (109,837,957) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.75 471.90 Td (2,466,923) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.10 471.90 Td (\(95,192) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.80 471.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.10 471.90 Td (\(4,211) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 471.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 471.90 Td (1,624,102) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.10 471.90 Td (\(114,008) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.80 471.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.75 471.90 Td (129,483) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 471.90 Td (4,102,289) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 442.11 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.75 441.90 Td (406,074) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.80 441.90 Td (33,892) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.75 441.90 Td (439,966) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 428.11 Td (Other comprehensive income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 427.90 Td (35,955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.75 427.90 Td (35,955) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 414.11 Td (Dividends on common stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 405.11 Td (\($2.23 per share\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.10 404.90 Td (\(244,903) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 404.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.10 404.90 Td (\(244,903) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 404.90 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 391.11 Td (Issuance of common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.75 390.90 Td (442,746) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.75 390.90 Td (24,635) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.75 390.90 Td (24,635) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 377.11 Td (Purchase of treasury stock \(a\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.10 376.90 Td (\(174,290) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.80 376.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.10 376.90 Td (\(9,727) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 376.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.10 376.90 Td (\(9,727) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 376.90 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 363.11 Td (Stock-based compensation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 354.11 Td (and other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.80 353.90 Td (170,538) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.75 353.90 Td (9,630) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.75 353.90 Td (9,630) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 340.11 Td (Net capital activities by) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 331.11 Td (noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.10 330.90 Td (\(17,385) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 508.80 330.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.10 330.90 Td (\(17,385) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 330.90 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 311.11 Td (Balance, December 31, 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 166.75 310.90 Td (110,280,703) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.75 310.90 Td (2,491,558) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.10 310.90 Td (\(98,944) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.80 310.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.10 310.90 Td (\(4,308) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 310.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 310.90 Td (1,785,273) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.10 310.90 Td (\(78,053) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.80 310.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.75 310.90 Td (145,990) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 310.90 Td (4,340,460) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 281.11 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.75 280.90 Td (397,595) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.80 280.90 Td (26,101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.75 280.90 Td (423,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 267.11 Td (Other comprehensive income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.80 266.90 Td (9,912) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.75 266.90 Td (9,912) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 253.11 Td (Dividends on common stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 244.11 Td (\($2.33 per share\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.10 243.90 Td (\(256,803) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 243.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.10 243.90 Td (\(256,803) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 243.90 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 230.11 Td (Issuance of common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.75 229.90 Td (369,059) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.75 229.90 Td (21,412) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.75 229.90 Td (21,412) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 216.11 Td (Purchase of treasury stock \(a\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.10 215.90 Td (\(139,746) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.80 215.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.10 215.90 Td (\(7,893) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 215.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.10 215.90 Td (\(7,893) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 215.90 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 202.11 Td (Stock-based compensation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 193.11 Td (and other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.80 192.90 Td (160,290) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.75 192.90 Td (8,800) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.75 192.90 Td (8,800) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 179.11 Td (Net capital activities by) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 170.11 Td (noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.10 169.90 Td (\(20,482) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 508.80 169.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.10 169.90 Td (\(20,482) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 169.90 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 150.11 Td (Balance, December 31, 2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 166.75 149.90 Td (110,649,762) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.50 149.90 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.75 149.90 Td (2,512,970) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.10 149.90 Td (\(78,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.80 149.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.50 149.90 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.10 149.90 Td (\(3,401) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 149.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.50 149.90 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 149.90 Td (1,926,065) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.50 149.90 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.10 149.90 Td (\(68,141) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.80 149.90 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.50 149.90 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.75 149.90 Td (151,609) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.50 149.90 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 149.90 Td (4,519,102) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.15 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 128.15 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 121.50 128.15 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 98.15 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 139.30 98.15 Td (W) Tj ET Q q 0 0 0 rg BT 147.94 98.15 Td (est) Tj ET Q q 0 0 0 rg BT 161.82 98.15 Td (s Consolidated Financial Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 171 0 obj <>] /Rotate 0 /Contents 172 0 R>> endobj 172 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (82) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 734.75 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 734.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 734.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 734.75 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 734.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 734.75 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 720.95 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 720.95 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 720.95 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 720.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 720.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 720.95 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 720.95 Td (TEMENTS) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 693.35 Td (1.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 693.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.88 693.35 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 88.75 693.35 Td (Summary of Significant ) Tj ET Q q 0 0 0 rg BT 207.91 693.35 Td (Accounting Policies) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.55 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 665.75 Td (Description of Business and Basis of Pr) Tj ET Q q 0 0 0 rg BT 240.98 665.75 Td (esentation) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 638.15 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 638.15 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 638.15 Td (est is a holding company that conducts business through its subsidiaries, ) Tj ET Q q 0 0 0 rg BT 472.46 638.15 Td (APS, El Dorado, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.35 Td (BCE, and formerly SunCor) Tj ET Q q 0 0 0 rg BT 174.72 624.35 Td (. ) Tj ET Q q 0 0 0 rg BT 182.71 624.35 Td (APS, our wholly-owned subsidiary) Tj ET Q q 0 0 0 rg BT 343.60 624.35 Td (, is a vertically-integrated electric utility that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (provides either retail or wholesale electric service to substantially all of the state of ) Tj ET Q q 0 0 0 rg BT 433.35 610.55 Td (Arizona, with the major ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.75 Td (exceptions of about one-half of the Phoenix metropolitan area, the ) Tj ET Q q 0 0 0 rg BT 356.82 596.75 Td (T) Tj ET Q q 0 0 0 rg BT 363.44 596.75 Td (ucson metropolitan area and Mohave ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.95 Td (County in northwestern ) Tj ET Q q 0 0 0 rg BT 160.34 582.95 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 205.37 582.95 Td (APS accounts for essentially all of our revenues and earnings, and is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (expected to continue to do so. El Dorado is an investment firm. BCE is a new subsidiary formed in 2014 that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (focuses on growth opportunities that leverage the Company's core expertise in the electric ener) Tj ET Q q 0 0 0 rg BT 485.35 555.35 Td (gy industry) Tj ET Q q 0 0 0 rg BT 536.67 555.35 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.55 Td (BCE is currently pursuing transmission opportunities through a joint venture arrangement. SunCor was a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.75 Td (developer of residential, commercial and industrial real estate projects and essentially all of these assets were ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.95 Td (sold in 2009 and 2010. In February2012, SunCor filed for protection under the United States Bankruptcy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.15 Td (Code to complete an orderly liquidation of its business. ) Tj ET Q q 0 0 0 rg BT 309.18 500.15 Td (All activities for SunCor are reported as discontinued ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.35 Td (operations. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 472.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 458.75 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 458.75 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 458.75 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 458.75 Td (s Consolidated Financial Statements include the accounts of Pinnacle ) Tj ET Q q 0 0 0 rg BT 475.08 458.75 Td (W) Tj ET Q q 0 0 0 rg BT 485.01 458.75 Td (est and our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.95 Td (subsidiaries: ) Tj ET Q q 0 0 0 rg BT 112.11 444.95 Td (APS, El Dorado, BCE, and formerly SunCor) Tj ET Q q 0 0 0 rg BT 317.51 444.95 Td (. ) Tj ET Q q 0 0 0 rg BT 325.50 444.95 Td (APS) Tj ET Q q 0 0 0 rg BT 349.79 444.95 Td (s consolidated financial statements include ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.15 Td (the accounts of ) Tj ET Q q 0 0 0 rg BT 121.35 431.15 Td (APS and certain ) Tj ET Q q 0 0 0 rg BT 198.76 431.15 Td (VIEs relating to the Palo ) Tj ET Q q 0 0 0 rg BT 315.13 431.15 Td (V) Tj ET Q q 0 0 0 rg BT 322.16 431.15 Td (erde sale leaseback. Intercompany accounts and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.35 Td (transactions between the consolidated companies have been eliminated.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 403.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 389.75 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 389.75 Td (e consolidate ) Tj ET Q q 0 0 0 rg BT 158.46 389.75 Td (VIEs for which we are the primary beneficiary) Tj ET Q q 0 0 0 rg BT 372.60 389.75 Td (. ) Tj ET Q q 0 0 0 rg BT 381.02 389.75 Td (W) Tj ET Q q 0 0 0 rg BT 390.95 389.75 Td (e determine whether we are the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.95 Td (primary beneficiary of a ) Tj ET Q q 0 0 0 rg BT 163.60 375.95 Td (VIE through a qualitative analysis that identifies which variable interest holder has the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.15 Td (controlling financial interest in the ) Tj ET Q q 0 0 0 rg BT 211.21 362.15 Td (VIE. In performing our primary beneficiary analysis, we consider all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.35 Td (relevant facts and circumstances, including the design and activities of the ) Tj ET Q q 0 0 0 rg BT 393.54 348.35 Td (VIE, the terms of the contracts the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.55 Td (VIE has entered into, and which parties participated significantly in the design or redesign of the entity) Tj ET Q q 0 0 0 rg BT 522.36 334.55 Td (. ) Tj ET Q q 0 0 0 rg BT 530.78 334.55 Td (W) Tj ET Q q 0 0 0 rg BT 540.71 334.55 Td (e ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.75 Td (continually evaluate our primary beneficiary conclusions to determine if changes have occurred which would ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.95 Td (impact our primary beneficiary assessments. ) Tj ET Q q 0 0 0 rg BT 259.75 306.95 Td (W) Tj ET Q q 0 0 0 rg BT 269.68 306.95 Td (e have determined that ) Tj ET Q q 0 0 0 rg BT 376.33 306.95 Td (APS is the primary beneficiary of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.15 Td (certain ) Tj ET Q q 0 0 0 rg BT 83.45 293.15 Td (VIE lessor trusts relating to the Palo ) Tj ET Q q 0 0 0 rg BT 252.85 293.15 Td (V) Tj ET Q q 0 0 0 rg BT 259.88 293.15 Td (erde sale leaseback, and therefore ) Tj ET Q q 0 0 0 rg BT 416.96 293.15 Td (APS consolidates these entities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.35 Td (\(see Note 18\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 251.75 Td (Our consolidated financial statements reflect all adjustments \(consisting only of normal recurring ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.95 Td (adjustments, except as otherwise disclosed in the notes\) that we believe are necessary for the fair presentation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.15 Td (of our financial position, results of operations and cash flows for the periods presented.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 210.35 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 196.55 Td (Accounting Records and Use of Estimates) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 168.95 Td (Our accounting records are maintained in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 386.95 168.95 Td (. ) Tj ET Q q 0 0 0 rg BT 395.37 168.95 Td (The preparation of financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.15 Td (statements in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 221.53 155.15 Td ( requires management to make estimates and assumptions that af) Tj ET Q q 0 0 0 rg BT 519.29 155.15 Td (fect the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.35 Td (reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.55 Td (financial statements and reported amounts of revenues and expenses during the reporting period. ) Tj ET Q q 0 0 0 rg BT 498.83 127.55 Td (Actual results ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.75 Td (could dif) Tj ET Q q 0 0 0 rg BT 90.49 113.75 Td (fer from those estimates.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 173 0 obj <>] /Rotate 0 /Contents 174 0 R>> endobj 174 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 49.50 721.25 Td (Regulatory ) Tj ET Q q 0 0 0 rg BT 106.68 721.25 Td (Accounting) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.65 Td (APS is regulated by the ) Tj ET Q q 0 0 0 rg BT 196.34 693.65 Td (ACC and FERC. ) Tj ET Q q 0 0 0 rg BT 279.52 693.65 Td (The accompanying financial statements reflect the rate-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.85 Td (making policies of these commissions. ) Tj ET Q q 0 0 0 rg BT 232.53 679.85 Td (As a result, we capitalize certain costs that would be included as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.05 Td (expense in the current period by unregulated companies. Regulatory assets represent incurred costs that have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.25 Td (been deferred because they are probable of future recovery in customer rates. Regulatory liabilities generally ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.45 Td (represent expected future costs that have already been collected from customers.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.85 Td (Management continually assesses whether our regulatory assets are probable of future recovery by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 597.05 Td (considering factors such as changes in the applicable regulatory environment and recent rate orders applicable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.25 Td (to ) Tj ET Q q 0 0 0 rg BT 60.69 583.25 Td (APS or other regulated entities in the same jurisdiction. ) Tj ET Q q 0 0 0 rg BT 321.42 583.25 Td (This determination reflects the current political and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.45 Td (regulatory climate in ) Tj ET Q q 0 0 0 rg BT 147.54 569.45 Td (Arizona and is subject to change in the future. If future recovery of costs ceases to be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.65 Td (probable, the assets would be written of) Tj ET Q q 0 0 0 rg BT 232.29 555.65 Td (f as a char) Tj ET Q q 0 0 0 rg BT 279.01 555.65 Td (ge in current period earnings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 541.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 528.05 Td (See Note 3 for additional information.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 500.45 Td (Electric Revenues) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 472.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 472.85 Td (e derive electric revenues primarily from sales of electricity to our regulated Native Load customers. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 459.05 Td (Revenues related to the sale of electricity are generally recorded when service is rendered or electricity is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.25 Td (delivered to customers. ) Tj ET Q q 0 0 0 rg BT 162.03 445.25 Td (The billing of electricity sales to individual Native Load customers is based on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.45 Td (reading of their meters, which occurs on a systematic basis throughout the month. Unbilled revenues are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.65 Td (estimated by applying an average revenue/kWh by customer class to the number of estimated kWhs delivered ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.85 Td (but not billed. Dif) Tj ET Q q 0 0 0 rg BT 134.58 403.85 Td (ferences historically between the actual and estimated unbilled revenues are immaterial. ) Tj ET Q q 0 0 0 rg BT 544.69 403.85 Td (W) Tj ET Q q 0 0 0 rg BT 554.63 403.85 Td (e ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 390.05 Td (exclude sales taxes and franchise fees on electric revenues from both revenue and taxes other than income ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.25 Td (taxes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 362.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 348.65 Td (Revenues from our Native Load customers and non-derivative instruments are reported on a gross ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.85 Td (basis on Pinnacle ) Tj ET Q q 0 0 0 rg BT 132.02 334.85 Td (W) Tj ET Q q 0 0 0 rg BT 141.95 334.85 Td (est) Tj ET Q q 0 0 0 rg BT 157.92 334.85 Td (s Consolidated Statements of Income. In the electricity business, some contracts to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.05 Td (purchase ener) Tj ET Q q 0 0 0 rg BT 112.82 321.05 Td (gy are netted against other contracts to sell ener) Tj ET Q q 0 0 0 rg BT 331.67 321.05 Td (gy) Tj ET Q q 0 0 0 rg BT 342.43 321.05 Td (. ) Tj ET Q q 0 0 0 rg BT 350.84 321.05 Td (This is called a book-out and usually ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.25 Td (occurs for contracts that have the same terms \(quantities and delivery points\) and for which power does not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.45 Td (flow) Tj ET Q q 0 0 0 rg BT 69.83 293.45 Td (. ) Tj ET Q q 0 0 0 rg BT 78.25 293.45 Td (W) Tj ET Q q 0 0 0 rg BT 88.18 293.45 Td (e net these book-outs, which reduces both revenues and fuel and purchased power costs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 279.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.85 Td (For the period January1, 2010 through June30, 2012, electric revenues also include proceeds for line ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 252.05 Td (extension payments for new or upgraded service in accordance with the 2009 Settlement ) Tj ET Q q 0 0 0 rg BT 459.23 252.05 Td (Agreement \(see Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.25 Td (3\). Ef) Tj ET Q q 0 0 0 rg BT 78.35 238.25 Td (fective July1, 2012, as a result of the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 330.35 238.25 Td (Agreement, these amounts are now recorded as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.45 Td (contributions in aid of construction and are not included in electric revenues.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 210.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 196.85 Td (Some of our cost recovery mechanisms are alternative revenue programs. For alternative revenue ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 183.05 Td (programs that meet specified accounting criteria, we recognize revenues when the specific events permitting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.25 Td (billing of the additional revenues have been completed.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 141.65 Td (Allowance for) Tj ET Q q 0 0 0 rg BT 117.96 141.65 Td ( Doubtful ) Tj ET Q q 0 0 0 rg BT 167.17 141.65 Td (Accounts) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 114.05 Td (The allowance for doubtful accounts represents our best estimate of existing accounts receivable that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.25 Td (will ultimately be uncollectible. ) Tj ET Q q 0 0 0 rg BT 201.31 100.25 Td (The allowance is calculated by applying estimated write-of) Tj ET Q q 0 0 0 rg BT 472.86 100.25 Td (f factors to various ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.45 Td (classes of outstanding receivables, including accrued utility revenues. ) Tj ET Q q 0 0 0 rg BT 375.35 86.45 Td (The write-of) Tj ET Q q 0 0 0 rg BT 432.94 86.45 Td (f factors used to estimate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.65 Td (uncollectible accounts are based upon consideration of both historical collections experience and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.85 Td (management) Tj ET Q q 0 0 0 rg BT 111.45 58.85 Td (s best estimate of future collections success given the existing collections environment.) Tj ET Q BT /F2 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 50 769.9503173828125 m 139.3515625 769.9503173828125 l s q 0 0 1 rg BT 50.00 771.75 Td (T) Tj ET Q q 0 0 1 rg BT 56.61 771.75 Td (able of Contents ) Tj ET Q BT /F2 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 757.95 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 757.95 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 757.95 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 757.95 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 757.95 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 757.95 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 744.15 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 744.15 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 744.15 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 744.15 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 744.15 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 744.15 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 744.15 Td (TEMENTS) Tj ET Q endstream endobj 175 0 obj <>] /Rotate 0 /Contents 176 0 R>> endobj 176 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 49.50 721.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 61.42 707.25 Td (operty) Tj ET Q q 0 0 0 rg BT 92.72 707.25 Td (, Plant and Equipment) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.65 Td (Utility plant is the term we use to describe the business property and equipment that supports electric ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (service, consisting primarily of generation, transmission and distribution facilities. ) Tj ET Q q 0 0 0 rg BT 434.15 665.85 Td (W) Tj ET Q q 0 0 0 rg BT 444.09 665.85 Td (e report utility plant at its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (original cost, which includes:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 624.45 Td (material and labor;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 610.65 Td (contractor costs;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 596.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 596.85 Td (capitalized leases;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 583.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 583.05 Td (construction overhead costs \(where applicable\); and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 569.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 569.25 Td (allowance for funds used during construction.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 541.65 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 541.65 Td (e expense the costs of plant outages, major maintenance and routine maintenance as incurred. ) Tj ET Q q 0 0 0 rg BT 531.11 541.65 Td (W) Tj ET Q q 0 0 0 rg BT 541.05 541.65 Td (e ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (char) Tj ET Q q 0 0 0 rg BT 69.08 527.85 Td (ge retired utility plant to accumulated depreciation. Liabilities associated with the retirement of tangible ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (long-lived assets are recognized at fair value as incurred and capitalized as part of the related tangible long-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (lived assets. ) Tj ET Q q 0 0 0 rg BT 110.19 500.25 Td (Accretion of the liability due to the passage of time is an operating expense, and the capitalized ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.45 Td (cost is depreciated over the useful life of the long-lived asset. See Note1) Tj ET Q q 0 0 0 rg BT 387.27 486.45 Td (1.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 472.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 458.85 Td (APS records a regulatory liability for the dif) Tj ET Q q 0 0 0 rg BT 288.73 458.85 Td (ference between the amount that has been recovered in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.05 Td (regulated rates and the amount calculated in accordance with guidance on accounting for asset retirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 108.60 431.25 Td (APS believes it can recover in regulated rates the costs calculated in accordance with this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.45 Td (accounting guidance.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 389.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 389.85 Td (e record depreciation on utility plant on a straight-line basis over the remaining useful life of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.05 Td (related assets. ) Tj ET Q q 0 0 0 rg BT 118.91 376.05 Td (The approximate remaining average useful lives of our utility property at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 457.73 376.05 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.11 376.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.25 Td (were as follows:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 348.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 334.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 334.65 Td (Fossil plant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 192.11 334.65 Td (19) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 203.61 334.65 Td ( years;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 320.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 320.85 Td (Nuclear plant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 201.01 320.85 Td (28) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 212.51 320.85 Td ( years;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 307.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 307.05 Td (Other generation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 216.34 307.05 Td (25) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 227.84 307.05 Td ( years;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 293.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 293.25 Td (T) Tj ET Q q 0 0 0 rg BT 128.12 293.25 Td (ransmission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 200.32 293.25 Td (38) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 211.82 293.25 Td ( years;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 279.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 279.45 Td (Distribution ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 194.34 279.45 Td (33) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 205.84 279.45 Td ( years; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 265.65 Td (Other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 164.93 265.65 Td (7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 170.68 265.65 Td ( years.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 238.05 Td (Pursuant to an ) Tj ET Q q 0 0 0 rg BT 153.54 238.05 Td (ACC order) Tj ET Q q 0 0 0 rg BT 203.87 238.05 Td (, we deferred operating costs in 2013 and 2014 related to ) Tj ET Q q 0 0 0 rg BT 467.65 238.05 Td (APS) Tj ET Q q 0 0 0 rg BT 491.94 238.05 Td (s acquisition of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (additional interests in Units 4 and 5 and the related closure of Units 1-3 of Four Corners. See Note 3 for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.45 Td (further discussion. ) Tj ET Q q 0 0 0 rg BT 140.00 210.45 Td (These costs were deferred and will be amortized on the depreciation line of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.65 Td (Consolidated Statements of Income.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 182.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 169.05 Td (For the years 2012 through 2014, the depreciation rates ranged from a low of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 442.86 169.05 Td (0.30%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.56 169.05 Td ( to a high of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.25 Td (12.08%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 84.95 155.25 Td (. ) Tj ET Q q 0 0 0 rg BT 93.37 155.25 Td (The weighted-average rate was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 239.60 155.25 Td (2.77%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 269.31 155.25 Td ( for 2014, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 317.22 155.25 Td (3.00%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 346.92 155.25 Td ( for 2013, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 414.31 155.25 Td (2.71%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 444.01 155.25 Td ( for 2012.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 141.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 127.65 Td (Allowance for) Tj ET Q q 0 0 0 rg BT 117.96 127.65 Td ( Funds Used During Construction) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 100.05 Td (AFUDC represents the approximate net composite interest cost of borrowed funds and an allowed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.25 Td (return on the equity funds used for construction of regulated utility plant. Both the debt and equity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.45 Td (components of ) Tj ET Q q 0 0 0 rg BT 119.77 72.45 Td (AFUDC are non-cash amounts within the Consolidated Statements of Income. Plant ) Tj ET Q BT /F2 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 50 769.9503173828125 m 139.3515625 769.9503173828125 l s q 0 0 1 rg BT 50.00 771.75 Td (T) Tj ET Q q 0 0 1 rg BT 56.61 771.75 Td (able of Contents ) Tj ET Q BT /F2 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 757.95 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 757.95 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 757.95 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 757.95 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 757.95 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 757.95 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 744.15 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 744.15 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 744.15 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 744.15 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 744.15 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 744.15 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 744.15 Td (TEMENTS) Tj ET Q endstream endobj 177 0 obj <>] /Rotate 0 /Contents 178 0 R>> endobj 178 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 /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (construction costs, including ) Tj ET Q q 0 0 0 rg BT 183.66 721.05 Td (AFUDC, are recovered in authorized rates through depreciation when completed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (projects are placed into commercial operation.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.65 Td (AFUDC was calculated by using a composite rate of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 330.46 679.65 Td (8.47%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 360.16 679.65 Td ( for 2014, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.07 679.65 Td (8.56%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 437.78 679.65 Td ( for 2013, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 505.17 679.65 Td (8.60%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 534.87 679.65 Td ( for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (2012. ) Tj ET Q q 0 0 0 rg BT 80.49 665.85 Td (APS compounds ) Tj ET Q q 0 0 0 rg BT 159.73 665.85 Td (AFUDC semi-annually and ceases to accrue ) Tj ET Q q 0 0 0 rg BT 365.39 665.85 Td (AFUDC when construction work is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (completed and the property is placed in service.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 638.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (Materials and Supplies) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 596.85 Td (APS values materials, supplies and fossil fuel inventory using a weighted-average cost method. ) Tj ET Q q 0 0 0 rg BT 529.45 596.85 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (materials, supplies and fossil fuel inventories are carried at the lower of weighted-average cost or market, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (unless evidence indicates that the weighted-average cost \(even if in excess of market\) will be recovered.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (Fair) Tj ET Q q 0 0 0 rg BT 70.37 541.65 Td ( ) Tj ET Q q 0 0 0 rg BT 73.03 541.65 Td (V) Tj ET Q q 0 0 0 rg BT 80.28 541.65 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 141.08 541.65 Td (ements) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 514.05 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 514.05 Td (e account for derivative instruments, investments held in our nuclear decommissioning trust, certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (cash equivalents and plan assets held in our retirement and other benefit plans at fair value on a recurring basis. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.45 Td (Due to the short-term nature of net accounts receivable, accounts payable, and short-term borrowings, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.65 Td (carrying values of these instruments approximate fair value. Fair value measurements may also be applied on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (a nonrecurring basis to other assets and liabilities in certain circumstances such as impairments. ) Tj ET Q q 0 0 0 rg BT 495.12 458.85 Td (W) Tj ET Q q 0 0 0 rg BT 505.06 458.85 Td (e also ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.05 Td (disclose fair value information for our long-term debt, which is carried at amortized cost \(see Note 6\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 431.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 417.45 Td (Fair value is the price that would be received for an asset or paid to transfer a liability \(exit price\) in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.65 Td (principal or most advantageous market which we can access for the asset or liability in an orderly transaction ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.85 Td (between willing market participants on the measurement date. Inputs to fair value may include observable and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.05 Td (unobservable data. ) Tj ET Q q 0 0 0 rg BT 141.26 376.05 Td (W) Tj ET Q q 0 0 0 rg BT 151.19 376.05 Td (e maximize the use of observable inputs and minimize the use of unobservable inputs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.25 Td (when measuring fair value.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 348.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 334.65 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 334.65 Td (e determine fair market value using observable inputs such as actively-quoted prices for identical ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.85 Td (instruments when available. ) Tj ET Q q 0 0 0 rg BT 183.75 320.85 Td (When actively quoted prices are not available for the identical instruments, we ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.05 Td (use other observable inputs, such as prices for similar instruments, other corroborative market information, or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (prices provided by other external sources. For options, long-term contracts and other contracts for which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.45 Td (observable price data are not available, we use models and other valuation methods, which may incorporate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.65 Td (unobservable inputs to determine fair market value.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 251.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 238.05 Td (The use of models and other valuation methods to determine fair market value often requires subjective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (and complex judgment. ) Tj ET Q q 0 0 0 rg BT 162.89 224.25 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 270.31 224.25 Td (fer from the results estimated through application of these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.45 Td (methods.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 196.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 182.85 Td (See Note 13 for additional information about fair value measurements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 169.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 155.25 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 102.83 155.25 Td (Accounting) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 127.65 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 127.65 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 49.50 113.85 Td (electricity) Tj ET Q q 0 0 0 rg BT 94.73 113.85 Td (, natural gas, coal and in interest rates. ) Tj ET Q q 0 0 0 rg BT 276.54 113.85 Td (W) Tj ET Q q 0 0 0 rg BT 286.48 113.85 Td (e manage risks associated with market volatility by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.05 Td (utilizing various physical and financial instruments including futures, forwards, options and swaps. ) Tj ET Q q 0 0 0 rg BT 510.71 100.05 Td (As part of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.25 Td (our overall risk management program, we may use derivative instruments to hedge purchases and sales of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.45 Td (electricity and fuels. ) Tj ET Q q 0 0 0 rg BT 148.60 72.45 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 58.65 Td (the hedged transactions. ) Tj ET Q q 0 0 0 rg BT 165.86 58.65 Td (W) Tj ET Q q 0 0 0 rg BT 175.79 58.65 Td (e also enter into derivative instruments for economic hedging purposes. Contracts ) Tj ET Q BT /F2 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 50 769.9503173828125 m 139.3515625 769.9503173828125 l s q 0 0 1 rg BT 50.00 771.75 Td (T) Tj ET Q q 0 0 1 rg BT 56.61 771.75 Td (able of Contents ) Tj ET Q BT /F2 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 757.95 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 757.95 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 757.95 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 757.95 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 757.95 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 757.95 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 744.15 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 744.15 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 744.15 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 744.15 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 744.15 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 744.15 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 744.15 Td (TEMENTS) Tj ET Q endstream endobj 179 0 obj <>] /Rotate 0 /Contents 180 0 R>> endobj 180 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 /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (that have the same terms \(quantities, delivery points and delivery periods\) and for which power does not flow ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (are netted, which reduces both revenues and fuel and purchased power expenses in our Consolidated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (Statements of Income, but 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 85.50 679.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 665.85 Td (e account for our derivative contracts in accordance with derivatives and hedging guidance, which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (requires all derivatives not qualifying for a scope exception to be measured at fair value on the balance sheet as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (either assets or liabilities. ) Tj ET Q q 0 0 0 rg BT 171.93 638.25 Td (T) Tj ET Q q 0 0 0 rg BT 178.55 638.25 Td (ransactions with counterparties that have master netting arrangements are reported ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (net on the balance sheet. See Note 16 for additional information about our derivative instruments.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (Loss Contingencies and Envir) Tj ET Q q 0 0 0 rg BT 195.95 596.85 Td (onmental Liabilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 569.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 569.25 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 569.25 Td (est and ) Tj ET Q q 0 0 0 rg BT 172.20 569.25 Td (APS are involved in certain legal and environmental matters that arise in the normal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td (course of business. Contingent losses and environmental liabilities are recorded when it is determined that it is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (probable that a loss has occurred and the amount of the loss can be reasonably estimated. ) Tj ET Q q 0 0 0 rg BT 464.45 541.65 Td (When a range of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (probable loss exists and no amount within the range is a better estimate than any other amount, Pinnacle ) Tj ET Q q 0 0 0 rg BT 531.23 527.85 Td (W) Tj ET Q q 0 0 0 rg BT 541.16 527.85 Td (est ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (and ) Tj ET Q q 0 0 0 rg BT 68.35 514.05 Td (APS record a loss contingency at the minimum amount in the range. Unless otherwise required by GAAP) Tj ET Q q 0 0 0 rg BT 555.74 514.05 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (legal fees are expensed as incurred.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 486.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 472.65 Td (Retir) Tj ET Q q 0 0 0 rg BT 74.83 472.65 Td (ement Plans and Other) Tj ET Q q 0 0 0 rg BT 188.03 472.65 Td ( Benefits) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 445.05 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 445.05 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 445.05 Td (est sponsors a qualified defined benefit and account balance pension plan for the employees ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (of Pinnacle ) Tj ET Q q 0 0 0 rg BT 104.22 431.25 Td (W) Tj ET Q q 0 0 0 rg BT 114.16 431.25 Td (est and its subsidiaries. ) Tj ET Q q 0 0 0 rg BT 225.75 431.25 Td (W) Tj ET Q q 0 0 0 rg BT 235.68 431.25 Td (e also sponsor an other postretirement benefit plan for the employees ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.45 Td (of Pinnacle ) Tj ET Q q 0 0 0 rg BT 104.22 417.45 Td (W) Tj ET Q q 0 0 0 rg BT 114.16 417.45 Td (est and its subsidiaries that provides medical and life insurance benefits to retired employees. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.65 Td (Pension and other postretirement benefit expense are determined by actuarial valuations, based on assumptions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.85 Td (that are evaluated annually) Tj ET Q q 0 0 0 rg BT 172.32 389.85 Td (. See Note 7 for additional information on pension and other postretirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.05 Td (benefits.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 362.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 348.45 Td (Nuclear) Tj ET Q q 0 0 0 rg BT 88.25 348.45 Td ( Fuel) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 320.85 Td (APS amortizes nuclear fuel by using the unit-of-production method. ) Tj ET Q q 0 0 0 rg BT 404.36 320.85 Td (The unit-of-production method is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.05 Td (based on actual physical usage. ) Tj ET Q q 0 0 0 rg BT 198.64 307.05 Td (APS divides the cost of the fuel by the estimated number of thermal units it ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (expects to produce with that fuel. ) Tj ET Q q 0 0 0 rg BT 207.90 293.25 Td (APS then multiplies that rate by the number of thermal units produced ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.45 Td (within the current period. ) Tj ET Q q 0 0 0 rg BT 171.93 279.45 Td (This calculation determines the current period nuclear fuel expense.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 251.85 Td (APS also char) Tj ET Q q 0 0 0 rg BT 150.45 251.85 Td (ges nuclear fuel expense for the interim storage and permanent disposal of spent nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.05 Td (fuel. ) Tj ET Q q 0 0 0 rg BT 75.80 238.05 Td (The DOE is responsible for the permanent disposal of spent nuclear fuel and char) Tj ET Q q 0 0 0 rg BT 450.19 238.05 Td (ged ) Tj ET Q q 0 0 0 rg BT 469.03 238.05 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 493.00 238.05 Td ($0.001) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 524.63 238.05 Td ( per ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (kWh of nuclear generation through ) Tj ET Q q 0 0 0 rg BT 213.32 224.25 Td (August 2014, at which point the DOE suspended the fee. In accordance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.45 Td (with a settlement agreement with the DOE in ) Tj ET Q q 0 0 0 rg BT 259.65 210.45 Td (August 2014, we will now accrue a receivable for incurred ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.65 Td (claims and an of) Tj ET Q q 0 0 0 rg BT 124.98 196.65 Td (fsetting regulatory liability through the settlement period ending December of 2016. See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.85 Td (10 for information on spent nuclear fuel disposal costs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 169.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 155.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 88.58 155.25 Td (T) Tj ET Q q 0 0 0 rg BT 95.19 155.25 Td (axes) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 127.65 Td (Income taxes are provided using the asset and liability approach prescribed by guidance relating to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.85 Td (accounting for income taxes. ) Tj ET Q q 0 0 0 rg BT 187.89 113.85 Td (W) Tj ET Q q 0 0 0 rg BT 197.82 113.85 Td (e file our federal income tax return on a consolidated basis, and we file our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.05 Td (state income tax returns on a consolidated or unitary basis. In accordance with our intercompany tax sharing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.25 Td (agreement, federal and state income taxes are allocated to each first-tier subsidiary as though each first-tier ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.45 Td (subsidiary filed a separate income tax return. ) Tj ET Q q 0 0 0 rg BT 261.22 72.45 Td (Any dif) Tj ET Q q 0 0 0 rg BT 296.47 72.45 Td (ference between that method and the consolidated \(and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.65 Td (unitary\) income tax liability is attributed to the parent company) Tj ET Q q 0 0 0 rg BT 340.33 58.65 Td (. ) Tj ET Q q 0 0 0 rg BT 348.75 58.65 Td (The income tax accounts reflect the tax and ) Tj ET Q BT /F2 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 50 769.9503173828125 m 139.3515625 769.9503173828125 l s q 0 0 1 rg BT 50.00 771.75 Td (T) Tj ET Q q 0 0 1 rg BT 56.61 771.75 Td (able of Contents ) Tj ET Q BT /F2 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 757.95 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 757.95 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 757.95 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 757.95 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 757.95 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 757.95 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 744.15 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 744.15 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 744.15 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 744.15 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 744.15 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 744.15 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 744.15 Td (TEMENTS) Tj ET Q endstream endobj 181 0 obj <>] /Rotate 0 /Contents 182 0 R>> endobj 182 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (87) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (interest associated with management) Tj ET Q q 0 0 0 rg BT 221.63 721.05 Td (s estimate of the lar) Tj ET Q q 0 0 0 rg BT 311.48 721.05 Td (gest amount of tax benefit that is greater than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.56 721.05 Td (50%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.64 721.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (likely of being realized upon settlement for all known and measurable tax exposures \(see Note4\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (Cash and Cash Equivalents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 652.05 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 652.05 Td (e consider all highly liquid investments with a remaining maturity of three months or less at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (acquisition to be cash equivalents.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.65 Td (The following table summarizes supplemental Pinnacle ) Tj ET Q q 0 0 0 rg BT 343.34 610.65 Td (W) Tj ET Q q 0 0 0 rg BT 353.28 610.65 Td (est cash flow information for each of the last ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (three years \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 548.55 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 548.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 548.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 548.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 548.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 548.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 520.55 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 520.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 520.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 520.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 520.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 520.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 492.55 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 492.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 492.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 492.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 492.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 492.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 464.55 309.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 464.55 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 464.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 464.55 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 464.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 464.55 65.00 -24.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 560.55 m 424 560.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 560.55 m 428 560.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 560.55 m 493 560.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 560.55 m 497 560.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 560.55 m 562 560.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 560.55 m 424 560.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 548.55 m 424 548.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 560.55 m 428 560.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 560.55 m 493 560.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 548.55 m 493 548.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 560.55 m 497 560.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 560.55 m 562 560.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 548.55 m 562 548.55 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 563.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.60 564.63 Td (YearendedDecember31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 551.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.00 551.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.00 551.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 551.28 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 539.12 Td (Cash paid \(received\) during the period for:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 537.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 537.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 537.31 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 525.12 Td (Income taxes, net of refunds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 525.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 525.17 Td (\(102,154) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 525.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 525.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 525.12 Td (18,537) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 525.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 525.12 Td (2,543) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 511.12 Td (Interest, net of amounts capitalized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 511.12 Td (177,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 511.12 Td (184,010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 511.12 Td (200,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 497.12 Td (Significant non-cash investing and financing activities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 495.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 495.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 495.31 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 483.12 Td (Accrued capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 483.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 483.12 Td (44,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 483.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 483.12 Td (33,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 483.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 483.12 Td (26,208) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 469.12 Td (Dividends declared but not paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 469.12 Td (65,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 469.12 Td (62,528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 469.12 Td (59,789) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 455.12 Td (Liabilities assumed relating to acquisition of SCE Four Corners interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 445.12 Td (\(see Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 445.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 445.22 Td (145,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 445.22 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 413.45 Td (Intangible ) Tj ET Q q 0 0 0 rg BT 102.23 413.45 Td (Assets) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 399.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 385.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 385.85 Td (e have no goodwill recorded and have separately disclosed other intangible assets, primarily ) Tj ET Q q 0 0 0 rg BT 521.45 385.85 Td (APS) Tj ET Q q 0 0 0 rg BT 545.74 385.85 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 372.05 Td (software, on Pinnacle) Tj ET Q q 0 0 0 rg BT 151.49 372.05 Td (W) Tj ET Q q 0 0 0 rg BT 161.42 372.05 Td (est) Tj ET Q q 0 0 0 rg BT 177.39 372.05 Td (s Consolidated Balance Sheets. ) Tj ET Q q 0 0 0 rg BT 326.66 372.05 Td (The intangible assets are amortized over their ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 358.25 Td (finite useful lives. ) Tj ET Q q 0 0 0 rg BT 137.34 358.25 Td (Amortization expense was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 262.21 358.25 Td ($53 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 315.56 358.25 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 330.25 358.25 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.25 358.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 359.00 358.25 Td ($53 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 412.35 358.25 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 427.05 358.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 450.05 358.25 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 475.28 358.25 Td ($50 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.63 358.25 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 344.45 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 344.45 Td (. Estimated amortization expense on existing intangible assets over the next five years is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 484.48 344.45 Td ($42 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 537.84 344.45 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 330.65 Td (2015, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 78.25 330.65 Td ($32 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 131.60 330.65 Td ( in 2016, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 175.05 330.65 Td ($21 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 228.40 330.65 Td ( in 2017, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.84 330.65 Td ($9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 319.45 330.65 Td ( in 2018, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 382.37 330.65 Td ($3 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 429.97 330.65 Td ( in 2019. ) Tj ET Q q 0 0 0 rg BT 475.66 330.65 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.03 330.65 Td (December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 316.85 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 316.85 Td (, the weighted-average remaining amortization period for intangible assets was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 438.15 316.85 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.90 316.85 Td ( years.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 303.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 289.25 Td (Investments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 275.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 261.65 Td (El Dorado accounts for its investments using either the equity method \(if significant influence\) or the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 247.85 Td (cost method \(if less than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 164.80 247.85 Td (20%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 185.88 247.85 Td ( ownership and no significant influence\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 234.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 220.25 Td (Our investments in the nuclear decommissioning trust fund are accounted for in accordance with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 206.45 Td (guidance on accounting for certain investments in debt and equity securities. See Note 13 and Note 19 for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 192.65 Td (more information on these investments.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 178.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 165.05 Td (Business Segments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 151.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 137.45 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 137.45 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 137.45 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 137.45 Td (s reportable business segment is our regulated electricity segment, which consists of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 123.65 Td (traditional regulated retail and wholesale electricity businesses \(primarily electricity service to Native Load ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 109.85 Td (customers\) and related activities and includes electricity generation, transmission and distribution. ) Tj ET Q q 0 0 0 rg BT 503.32 109.85 Td (All other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 96.05 Td (segment activities are insignificant.) Tj ET Q BT /F2 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 50 769.9503173828125 m 139.3515625 769.9503173828125 l s q 0 0 1 rg BT 50.00 771.75 Td (T) Tj ET Q q 0 0 1 rg BT 56.61 771.75 Td (able of Contents ) Tj ET Q BT /F2 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 757.95 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 757.95 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 757.95 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 757.95 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 757.95 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 757.95 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 744.15 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 744.15 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 744.15 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 744.15 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 744.15 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 744.15 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 744.15 Td (TEMENTS) Tj ET Q endstream endobj 183 0 obj <>] /Rotate 0 /Contents 184 0 R>> endobj 184 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 49.50 721.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 61.42 721.25 Td (eferr) Tj ET Q q 0 0 0 rg BT 85.46 721.25 Td (ed Stock) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 693.65 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.88 693.65 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.25 693.65 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 238.27 693.65 Td (W) Tj ET Q q 0 0 0 rg BT 248.20 693.65 Td (est had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 283.33 693.65 Td (10 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 330.93 693.65 Td ( shares of serial preferred stock authorized with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.85 Td (no par value, none of which was outstanding, and ) Tj ET Q q 0 0 0 rg BT 279.77 679.85 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 323.23 679.85 Td (15,535,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 374.98 679.85 Td ( shares of various types of preferred ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.05 Td (stock authorized with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 151.38 666.05 Td ($25) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 168.63 666.05 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 174.38 666.05 Td ($50) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 191.63 666.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 213.98 666.05 Td ($100) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 236.98 666.05 Td ( par values, none of which was outstanding.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 652.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 638.45 Td (2.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 638.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.88 638.45 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 88.75 638.45 Td (New ) Tj ET Q q 0 0 0 rg BT 112.71 638.45 Td (Accounting Standards) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.85 Td (During ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 120.96 610.85 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 143.96 610.85 Td (, we adopted, on a prospective basis, new guidance relating to the presentation of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 597.05 Td (unrecognized tax benefits. ) Tj ET Q q 0 0 0 rg BT 176.06 597.05 Td (This guidance generally requires entities to present unrecognized tax benefits as a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.25 Td (reduction to any available deferred tax asset for a net operating loss, a similar tax loss, or a tax credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.45 Td (carryforward. Prior to adopting this guidance, we presented unrecognized tax benefits on a gross basis. ) Tj ET Q q 0 0 0 rg BT 530.88 569.45 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.65 Td (adoption of this new guidance changed our balance sheet presentation of unrecognized tax benefits, but did not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.85 Td (impact our operating results or cash flows. See Note 4 for details regarding the impacts of adopting this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 528.05 Td (guidance.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 514.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 500.45 Td (In May2014, new revenue recognition guidance was issued. ) Tj ET Q q 0 0 0 rg BT 369.52 500.45 Td (This guidance provides a single ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.65 Td (comprehensive model for entities to use in accounting for revenue arising from contracts with customers and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.85 Td (supersedes most current revenue recognition guidance, including industry-specific guidance. ) Tj ET Q q 0 0 0 rg BT 481.05 472.85 Td (The new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 459.05 Td (guidance is ef) Tj ET Q q 0 0 0 rg BT 113.16 459.05 Td (fective for us on January1, 2017, and may be adopted using full retrospective application or a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.25 Td (simplified transition method that allows entities to record a cumulative ef) Tj ET Q q 0 0 0 rg BT 386.55 445.25 Td (fect adjustment in retained earnings at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.45 Td (the date of initial application. ) Tj ET Q q 0 0 0 rg BT 190.13 431.45 Td (W) Tj ET Q q 0 0 0 rg BT 200.06 431.45 Td (e are currently evaluating this new guidance and the impacts it may have on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.65 Td (our financial statements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 403.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 390.05 Td (3.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 390.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.88 390.05 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 88.75 390.05 Td (Regulatory Matters) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 362.45 Td (Retail Rate Case Filing with the ) Tj ET Q q 0 0 0 rg BT 207.93 362.45 Td (Arizona Corporation Commission) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 334.85 Td (On June1, 201) Tj ET Q q 0 0 0 rg BT 154.71 334.85 Td (1, ) Tj ET Q q 0 0 0 rg BT 165.57 334.85 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 320.81 334.85 Td (ACC for a net retail base rate increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 511.43 334.85 Td ($95.5 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.05 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 321.05 Td (. ) Tj ET Q q 0 0 0 rg BT 90.72 321.05 Td (APS requested that the increase become ef) Tj ET Q q 0 0 0 rg BT 286.58 321.05 Td (fective July1, 2012. ) Tj ET Q q 0 0 0 rg BT 385.70 321.05 Td (The request would have increased the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.25 Td (average retail customer bill by approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 261.54 307.25 Td (6.6%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 285.49 307.25 Td (. On January6, 2012, ) Tj ET Q q 0 0 0 rg BT 389.30 307.25 Td (APS and other parties to the general ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.45 Td (retail rate case entered into the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 270.48 293.45 Td (Agreement detailing the terms upon which the parties agreed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.65 Td (to settle the rate case. On May15, 2012, the ) Tj ET Q q 0 0 0 rg BT 257.09 279.65 Td (ACC approved the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 423.50 279.65 Td (Agreement without material ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.85 Td (modifications.) Tj ET Q BT /F1 11.50 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 85.50 238.25 Td (Settlement ) Tj ET Q q 0 0 0 rg BT 137.78 238.25 Td (Agreement) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 210.65 Td (The 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 183.56 210.65 Td (Agreement provides for a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 304.26 210.65 Td (zero) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 324.05 210.65 Td ( net change in base rates, consisting of: \(1\)a non-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.85 Td (fuel base rate increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 166.67 196.85 Td ($1) Tj ET Q q 0 0 0 rg BT 177.74 196.85 Td (16.3 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 233.97 196.85 Td (; \(2\)a fuel-related base rate decrease of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 418.50 196.85 Td ($153.1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 486.22 196.85 Td ( \(to be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 183.05 Td (implemented by a change in the Base Fuel Rate from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 296.68 183.05 Td ($0.03757) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 339.81 183.05 Td ( to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 354.50 183.05 Td ($0.03207) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 397.63 183.05 Td ( per kWh\); and \(3\) the transfer of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.25 Td (cost recovery for certain renewable ener) Tj ET Q q 0 0 0 rg BT 234.15 169.25 Td (gy projects from the RES surchar) Tj ET Q q 0 0 0 rg BT 387.56 169.25 Td (ge to base rates in an estimated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.45 Td (amount of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.32 155.45 Td ($36.8 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 161.30 155.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 141.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 127.85 Td (APS also agreed not to file its next general rate case before May31, 2015, and not to request that its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 114.05 Td (next general retail rate increase be ef) Tj ET Q q 0 0 0 rg BT 218.50 114.05 Td (fective prior to July1, 2016. ) Tj ET Q q 0 0 0 rg BT 354.67 114.05 Td (The 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 452.72 114.05 Td (Agreement allows ) Tj ET Q q 0 0 0 rg BT 538.95 114.05 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.25 Td (to request a change to its base rates during the stay-out period in the event of an extraordinary event that, in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.45 Td (ACC) Tj ET Q q 0 0 0 rg BT 76.34 86.45 Td (s judgment, requires base rate relief in order to protect the public interest. Nor is ) Tj ET Q q 0 0 0 rg BT 450.62 86.45 Td (APS precluded from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.65 Td (seeking rate relief, or any other party to the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 328.61 72.65 Td (Agreement precluded from petitioning the ) Tj ET Q q 0 0 0 rg BT 525.02 72.65 Td (ACC to ) Tj ET Q BT /F2 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 50 769.9503173828125 m 139.3515625 769.9503173828125 l s q 0 0 1 rg BT 50.00 771.75 Td (T) Tj ET Q q 0 0 1 rg BT 56.61 771.75 Td (able of Contents ) Tj ET Q BT /F2 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 757.95 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 757.95 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 757.95 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 757.95 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 757.95 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 757.95 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 744.15 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 744.15 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 744.15 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 744.15 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 744.15 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 744.15 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 744.15 Td (TEMENTS) Tj ET Q endstream endobj 185 0 obj <>] /Rotate 0 /Contents 186 0 R>> endobj 186 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 49.50 721.05 Td (examine the reasonableness of ) Tj ET Q q 0 0 0 rg BT 191.92 721.05 Td (APS) Tj ET Q q 0 0 0 rg BT 216.22 721.05 Td (s rates, in the event of significant regulatory developments that materially ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (impact the financial results expected under the terms of the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 401.43 707.25 Td (Agreement.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.65 Td (Other key provisions of the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 291.52 679.65 Td (Agreement include the following:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 659.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 659.85 Td (An authorized return on common equity of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 321.74 659.85 Td (10.0%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 351.45 659.85 Td (;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 637.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 637.05 Td (A) Tj ET Q q 0 0 0 rg BT 129.17 637.05 Td ( capital structure comprised of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.91 637.05 Td (46.1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 301.62 637.05 Td ( debt and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 346.65 637.05 Td (53.9%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.35 637.05 Td ( common equity;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 614.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 614.25 Td (A) Tj ET Q q 0 0 0 rg BT 129.17 614.25 Td ( test year ended December31, 2010, adjusted to include plant that is in service as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 600.45 Td (March31, 2012;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 577.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 577.65 Td (Deferral for future recovery or refund of property taxes above or below a specified 2010 test ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 563.85 Td (year level caused by changes to the ) Tj ET Q q 0 0 0 rg BT 285.95 563.85 Td (Arizona property tax rate as follows:) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 454.89 563.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 541.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 541.05 Td (Deferral of increases in property taxes of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 348.77 541.05 Td (25%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.84 541.05 Td ( in 2012, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 413.29 541.05 Td (50%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 434.37 541.05 Td ( in 2013 and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 494.42 541.05 Td (75%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 515.50 541.05 Td ( for 2014 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 527.25 Td (and subsequent years if ) Tj ET Q q 0 0 0 rg BT 267.36 527.25 Td (Arizona property tax rates increase; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 504.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 504.45 Td (Deferral of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 211.13 504.45 Td (100%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 237.96 504.45 Td ( in all years if ) Tj ET Q q 0 0 0 rg BT 303.43 504.45 Td (Arizona property tax rates decrease;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 481.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 481.65 Td (A) Tj ET Q q 0 0 0 rg BT 129.17 481.65 Td ( procedure to allow ) Tj ET Q q 0 0 0 rg BT 220.50 481.65 Td (APS to request rate adjustments prior to its next general rate case related ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 467.85 Td (to ) Tj ET Q q 0 0 0 rg BT 132.69 467.85 Td (APS) Tj ET Q q 0 0 0 rg BT 156.98 467.85 Td (s acquisition of additional interests in Units 4 and 5 and the related closure of Units 1-3 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 454.05 Td (of Four Corners \(APS made its filing under this provision on December30, 2013, see "Four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 440.25 Td (Corners" below\); ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 417.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 417.45 Td (Implementation of a Lost Fixed Cost Recovery rate mechanism to support ener) Tj ET Q q 0 0 0 rg BT 495.27 417.45 Td (gy ef) Tj ET Q q 0 0 0 rg BT 518.37 417.45 Td (ficiency ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 403.65 Td (and distributed renewable generation;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 380.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 380.85 Td (Modifications to the Environmental Improvement Surchar) Tj ET Q q 0 0 0 rg BT 389.25 380.85 Td (ge to allow for the recovery of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 367.05 Td (carrying costs for capital expenditures associated with government-mandated environmental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 353.25 Td (controls, subject to an existing cents per kWh cap on cost recovery that could produce up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 339.45 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.80 339.45 Td ($5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.40 339.45 Td ( in revenues annually;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 316.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 316.65 Td (Modifications to the PSA, including the elimination of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 392.36 316.65 Td (9) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.11 316.65 Td (0/10 sharing provision;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 293.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 293.85 Td (A) Tj ET Q q 0 0 0 rg BT 129.17 293.85 Td ( limitation on the use of the RES surchar) Tj ET Q q 0 0 0 rg BT 316.13 293.85 Td (ge and the DSMAC to recoup capital expenditures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 280.05 Td (not required under the terms of the 2009 Settlement ) Tj ET Q q 0 0 0 rg BT 361.35 280.05 Td (Agreement discussed below;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 257.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 257.25 Td (Allowing a negative credit that existed in the PSA) Tj ET Q q 0 0 0 rg BT 351.46 257.25 Td ( rate to continue until February2013, rather ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 243.45 Td (than being reset on the anticipated July1, 2012 rate ef) Tj ET Q q 0 0 0 rg BT 370.06 243.45 Td (fective date;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 220.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 220.65 Td (Modification of the ) Tj ET Q q 0 0 0 rg BT 213.59 220.65 Td (TCA) Tj ET Q q 0 0 0 rg BT 235.96 220.65 Td ( to streamline the process for future transmission-related rate changes; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 206.85 Td (and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 184.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 184.05 Td (Implementation of various changes to rate schedules, including the adoption of an experimental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 170.25 Td (buy-through rate that could allow certain lar) Tj ET Q q 0 0 0 rg BT 334.60 170.25 Td (ge commercial and industrial customers to select ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 156.45 Td (alternative sources of generation to be supplied by ) Tj ET Q q 0 0 0 rg BT 355.27 156.45 Td (APS.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 133.65 Td (The 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 183.56 133.65 Td (Agreement was approved by the ) Tj ET Q q 0 0 0 rg BT 334.61 133.65 Td (ACC on May15, 2012, with new rates ef) Tj ET Q q 0 0 0 rg BT 524.13 133.65 Td (fective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 119.85 Td (on July1, 2012. ) Tj ET Q q 0 0 0 rg BT 128.84 119.85 Td (This accomplished a goal set by the parties to the 2009 Settlement ) Tj ET Q q 0 0 0 rg BT 435.44 119.85 Td (Agreement to process ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 106.05 Td (subsequent rate cases within ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 183.00 106.05 Td (twelve) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 213.65 106.05 Td ( months of suf) Tj ET Q q 0 0 0 rg BT 279.57 106.05 Td (ficiency findings from the ) Tj ET Q q 0 0 0 rg BT 401.57 106.05 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 444.49 106.05 Td (f, which generally occurs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 92.25 Td (within ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 81.77 92.25 Td (30) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 93.27 92.25 Td ( days after the filing of a rate case.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 78.45 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 187 0 obj <>] /Rotate 0 /Contents 188 0 R>> endobj 188 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (90) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 721.25 Td (Cost Recovery Mechanisms) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.65 Td (APS has received regulatory decisions that allow for more timely recovery of certain costs through the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.85 Td (following recovery mechanisms.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 666.05 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 652.25 Td (Renewable Energy Standard) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 220.96 652.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 223.83 652.25 Td ( In 2006, the ) Tj ET Q q 0 0 0 rg BT 287.08 652.25 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 49.50 638.45 Td (that are regulated by the ) Tj ET Q q 0 0 0 rg BT 162.86 638.45 Td (ACC must supply an increasing percentage of their retail electric ener) Tj ET Q q 0 0 0 rg BT 483.90 638.45 Td (gy sales from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.65 Td (eligible renewable resources, including solar) Tj ET Q q 0 0 0 rg BT 254.37 624.65 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 49.50 610.85 Td (achieve these requirements, the ) Tj ET Q q 0 0 0 rg BT 196.07 610.85 Td (ACC allows ) Tj ET Q q 0 0 0 rg BT 254.86 610.85 Td (APS to include a RES surchar) Tj ET Q q 0 0 0 rg BT 392.95 610.85 Td (ge as part of customer bills to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 597.05 Td (recover the approved amounts for use on renewable ener) Tj ET Q q 0 0 0 rg BT 309.85 597.05 Td (gy projects. Each year ) Tj ET Q q 0 0 0 rg BT 417.14 597.05 Td (APS is required to file a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 530.85 597.05 Td (five) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.73 597.05 Td (-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.25 Td (year implementation plan with the ) Tj ET Q q 0 0 0 rg BT 209.51 583.25 Td (ACC and seek approval for funding the upcoming year) Tj ET Q q 0 0 0 rg BT 462.87 583.25 Td () Tj ET Q q 0 0 0 rg BT 466.06 583.25 Td (s RES budget.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 569.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.65 Td (On July12, 2013, ) Tj ET Q q 0 0 0 rg BT 169.84 555.65 Td (APS filed its annual RES implementation plan, covering the 2014-2018 timeframe ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.85 Td (and requesting a 2014 RES budget of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 293.51 541.85 Td ($143 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 352.61 541.85 Td (. In a final order dated January7, 2014, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 528.05 Td (ACC approved the requested budget. ) Tj ET Q q 0 0 0 rg BT 224.84 528.05 Td (Also in 2013, the ) Tj ET Q q 0 0 0 rg BT 306.30 528.05 Td (ACC conducted a hearing to consider ) Tj ET Q q 0 0 0 rg BT 481.31 528.05 Td (APS) Tj ET Q q 0 0 0 rg BT 505.61 528.05 Td (s proposal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.25 Td (to establish compliance with distributed ener) Tj ET Q q 0 0 0 rg BT 255.29 514.25 Td (gy requirements by tracking and recording distributed ener) Tj ET Q q 0 0 0 rg BT 525.57 514.25 Td (gy) Tj ET Q q 0 0 0 rg BT 536.32 514.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.45 Td (rather than acquiring and retiring renewable ener) Tj ET Q q 0 0 0 rg BT 274.08 500.45 Td (gy credits. On February6, 2014, the ) Tj ET Q q 0 0 0 rg BT 445.59 500.45 Td (ACC established a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.65 Td (proceeding to modify the renewable ener) Tj ET Q q 0 0 0 rg BT 238.01 486.65 Td (gy rulesto establish a process for compliance with the renewable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.85 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 472.85 Td (gy requirement that is not based solely on the use of renewable ener) Tj ET Q q 0 0 0 rg BT 381.19 472.85 Td (gy credits. On September 9, 2014, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 459.05 Td (ACC authorized a rulemaking process to modify the RES rules. ) Tj ET Q q 0 0 0 rg BT 344.73 459.05 Td (The proposed changes would permit the ) Tj ET Q q 0 0 0 rg BT 531.24 459.05 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.25 Td (to find that utilities have complied with the distributed ener) Tj ET Q q 0 0 0 rg BT 322.36 445.25 Td (gy requirement in light of all available information. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.45 Td (The ) Tj ET Q q 0 0 0 rg BT 69.62 431.45 Td (ACC adopted these changes on December 18, 2014. ) Tj ET Q q 0 0 0 rg BT 315.00 431.45 Td (The revised rules are expected to become ef) Tj ET Q q 0 0 0 rg BT 516.91 431.45 Td (fective in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.65 Td (the second quarter of 2015.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 390.05 Td (In accordance with the ) Tj ET Q q 0 0 0 rg BT 192.15 390.05 Td (ACC) Tj ET Q q 0 0 0 rg BT 218.99 390.05 Td (s decision on the 2014 RES plan, on ) Tj ET Q q 0 0 0 rg BT 387.97 390.05 Td (April15, 2014, ) Tj ET Q q 0 0 0 rg BT 460.49 390.05 Td (APS filed an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.25 Td (application with the ) Tj ET Q q 0 0 0 rg BT 143.08 376.25 Td (ACC requesting permission to build an additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 374.66 376.25 Td (20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 386.16 376.25 Td ( MW) Tj ET Q q 0 0 0 rg BT 409.91 376.25 Td ( of ) Tj ET Q q 0 0 0 rg BT 424.60 376.25 Td (APS-owned utility scale solar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.45 Td (under the ) Tj ET Q q 0 0 0 rg BT 94.85 362.45 Td (AZ Sun Program. In a subsequent filing, ) Tj ET Q q 0 0 0 rg BT 286.50 362.45 Td (APS also of) Tj ET Q q 0 0 0 rg BT 341.25 362.45 Td (fered an alternative proposal to replace the 20 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.65 Td (MW) Tj ET Q q 0 0 0 rg BT 70.37 348.65 Td ( of utility scale solar with 10 MW) Tj ET Q q 0 0 0 rg BT 225.71 348.65 Td ( \(approximately 1,500 customers\) of ) Tj ET Q q 0 0 0 rg BT 395.62 348.65 Td (APS-owned residential solar that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.85 Td (will not be under the ) Tj ET Q q 0 0 0 rg BT 146.92 334.85 Td (AZ Sun Program. On December 19, 2014, the ) Tj ET Q q 0 0 0 rg BT 363.47 334.85 Td (ACC voted that it had no objection to ) Tj ET Q q 0 0 0 rg BT 538.51 334.85 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.05 Td (implementing its residential rooftop solar program. ) Tj ET Q q 0 0 0 rg BT 290.11 321.05 Td (The first stage of the residential rooftop solar program is to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.25 Td (be 8 MW) Tj ET Q q 0 0 0 rg BT 92.73 307.25 Td ( followed by a 2 MW) Tj ET Q q 0 0 0 rg BT 191.21 307.25 Td ( second stage that will only be deployed if coupled with distributed storage. ) Tj ET Q q 0 0 0 rg BT 544.56 307.25 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.45 Td (program will tar) Tj ET Q q 0 0 0 rg BT 124.02 293.45 Td (get specific distribution feeders in an ef) Tj ET Q q 0 0 0 rg BT 305.84 293.45 Td (fort to maximize potential system benefits, as well as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.65 Td (make systems available to limited-income customers who cannot easily install solar through transactions with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.85 Td (third parties. ) Tj ET Q q 0 0 0 rg BT 113.17 265.85 Td (The ) Tj ET Q q 0 0 0 rg BT 133.29 265.85 Td (ACC expressly reserved that any determination of prudency of the residential rooftop solar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 252.05 Td (program for rate making purposes shall not be made until the project is fully in service and ) Tj ET Q q 0 0 0 rg BT 469.47 252.05 Td (APS requests cost ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.25 Td (recovery in a future rate case.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 210.65 Td (On July1, 2014, ) Tj ET Q q 0 0 0 rg BT 164.09 210.65 Td (APS filed its 2015 RES implementation plan and proposed a RES budget of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.85 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 196.85 Td ($154 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.90 196.85 Td (. On December 31, 2014, the ) Tj ET Q q 0 0 0 rg BT 312.99 196.85 Td (ACC issued a decision approving the 2015 RES ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 183.05 Td (implementation plan with minor modifications, including reducing the budget to approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 491.53 183.05 Td ($152 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 550.63 183.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 169.25 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 155.45 Td (Demand Side Management ) Tj ET Q q 0 0 0 rg BT 217.01 155.45 Td (Adjustor Charge) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 295.94 155.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 298.82 155.45 Td ( ) Tj ET Q q 0 0 0 rg BT 304.36 155.45 Td (The ) Tj ET Q q 0 0 0 rg BT 324.48 155.45 Td (ACC Electric Ener) Tj ET Q q 0 0 0 rg BT 411.13 155.45 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 436.15 155.45 Td (ficiency Standards require ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.65 Td (APS to submit a DSM Plan for review by and approval of the ) Tj ET Q q 0 0 0 rg BT 334.74 141.65 Td (ACC.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 127.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 114.05 Td (On June1, 2012, ) Tj ET Q q 0 0 0 rg BT 166.00 114.05 Td (APS filed its 2013 DSM Plan. In 2013, the standards required ) Tj ET Q q 0 0 0 rg BT 455.41 114.05 Td (APS to achieve ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.25 Td (cumulative ener) Tj ET Q q 0 0 0 rg BT 123.05 100.25 Td (gy savings equal to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.40 100.25 Td (5%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 229.73 100.25 Td ( of its 2012 retail ener) Tj ET Q q 0 0 0 rg BT 330.76 100.25 Td (gy sales. Later in 2012, ) Tj ET Q q 0 0 0 rg BT 443.18 100.25 Td (APS filed a supplement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.45 Td (to its plan that included a proposed budget for 2013 of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 302.13 86.45 Td ($87.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 364.11 86.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 72.65 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 189 0 obj <>] /Rotate 0 /Contents 190 0 R>> endobj 190 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (91) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (On March1) Tj ET Q q 0 0 0 rg BT 140.64 721.05 Td (1, 2014, the ) Tj ET Q q 0 0 0 rg BT 197.18 721.05 Td (ACC issued an order approving ) Tj ET Q q 0 0 0 rg BT 345.07 721.05 Td (APS) Tj ET Q q 0 0 0 rg BT 369.36 721.05 Td (s 2013 DSM Plan. ) Tj ET Q q 0 0 0 rg BT 459.25 721.05 Td (The ) Tj ET Q q 0 0 0 rg BT 479.37 721.05 Td (ACC approved a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (budget of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 96.13 707.25 Td ($68.9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 158.11 707.25 Td ( for each of 2013 and 2014. ) Tj ET Q q 0 0 0 rg BT 290.43 707.25 Td (The ) Tj ET Q q 0 0 0 rg BT 310.55 707.25 Td (ACC also approved a Resource Savings Initiative that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (allows ) Tj ET Q q 0 0 0 rg BT 81.77 693.45 Td (APS to count towards compliance with the ) Tj ET Q q 0 0 0 rg BT 280.76 693.45 Td (ACC Electric Ener) Tj ET Q q 0 0 0 rg BT 367.41 693.45 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 392.43 693.45 Td (ficiency Standards, savings for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (improvements to ) Tj ET Q q 0 0 0 rg BT 129.36 679.65 Td (APS) Tj ET Q q 0 0 0 rg BT 153.65 679.65 Td (s transmission and delivery system, generation and facilities that have been approved ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (through a DSM Plan. Consistent with the ) Tj ET Q q 0 0 0 rg BT 244.05 665.85 Td (ACC) Tj ET Q q 0 0 0 rg BT 270.89 665.85 Td (s March1) Tj ET Q q 0 0 0 rg BT 316.45 665.85 Td (1, 2014 order) Tj ET Q q 0 0 0 rg BT 377.63 665.85 Td (, ) Tj ET Q q 0 0 0 rg BT 382.75 665.85 Td (APS intends to continue its approved ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (DSM programs in 2015.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 638.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.45 Td (On June27, 2013, the ) Tj ET Q q 0 0 0 rg BT 188.68 624.45 Td (ACC voted to open a new docket investigating whether the Electric Ener) Tj ET Q q 0 0 0 rg BT 523.47 624.45 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (Ef) Tj ET Q q 0 0 0 rg BT 60.15 610.65 Td (ficiency Rules should be modified. ) Tj ET Q q 0 0 0 rg BT 226.34 610.65 Td (The ) Tj ET Q q 0 0 0 rg BT 246.46 610.65 Td (ACC held a series of three workshops in March and ) Tj ET Q q 0 0 0 rg BT 487.27 610.65 Td (April 2014 to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (investigate methodologies used to determine cost ef) Tj ET Q q 0 0 0 rg BT 287.54 596.85 Td (fective ener) Tj ET Q q 0 0 0 rg BT 341.28 596.85 Td (gy ef) Tj ET Q q 0 0 0 rg BT 364.38 596.85 Td (ficiency programs, cost recovery ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (mechanisms, incentives, and potential changes to the Electric Ener) Tj ET Q q 0 0 0 rg BT 355.86 583.05 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 380.88 583.05 Td (ficiency and Resource Planning Rules. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 555.45 Td (On November 4, 2014, the ) Tj ET Q q 0 0 0 rg BT 210.38 555.45 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 253.30 555.45 Td (f issued a request for informal comment on a draft of possible ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (amendments to ) Tj ET Q q 0 0 0 rg BT 121.69 541.65 Td (Arizona) Tj ET Q q 0 0 0 rg BT 161.92 541.65 Td (s Electric Utility Ener) Tj ET Q q 0 0 0 rg BT 262.31 541.65 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 287.33 541.65 Td (ficiency Standards. ) Tj ET Q q 0 0 0 rg BT 381.01 541.65 Td (The draft proposed substantial changes ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (to the rules and ener) Tj ET Q q 0 0 0 rg BT 142.54 527.85 Td (gy ef) Tj ET Q q 0 0 0 rg BT 165.64 527.85 Td (ficiency standards. ) Tj ET Q q 0 0 0 rg BT 263.15 527.85 Td (The ) Tj ET Q q 0 0 0 rg BT 283.27 527.85 Td (ACC accepted written comments and took public comment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (regarding the possible amendments on December 19, 2014. ) Tj ET Q q 0 0 0 rg BT 327.67 514.05 Td (A) Tj ET Q q 0 0 0 rg BT 335.34 514.05 Td ( formal rule making has not been initiated and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (there has been no additional action on the draft to date.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 486.45 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 472.65 Td (PSA) Tj ET Q q 0 0 0 rg BT 105.96 472.65 Td ( Mechanism and Balance.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.79 472.65 Td ( ) Tj ET Q q 0 0 0 rg BT 235.46 472.65 Td (The PSA) Tj ET Q q 0 0 0 rg BT 276.68 472.65 Td ( provides for the adjustment of retail rates to reflect variations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (in retail fuel and purchased power costs. ) Tj ET Q q 0 0 0 rg BT 240.58 458.85 Td (The PSA) Tj ET Q q 0 0 0 rg BT 281.80 458.85 Td ( is subject to specified parameters and procedures, including ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.05 Td (the following:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 431.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 417.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 417.45 Td (APS records deferrals for recovery or refund to the extent actual retail fuel and purchased ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 403.65 Td (power costs vary from the Base Fuel Rate;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 389.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 376.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 376.05 Td (an adjustment to the PSA) Tj ET Q q 0 0 0 rg BT 237.78 376.05 Td ( rate is made annually each February1\(unless otherwise approved by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 362.25 Td (the ) Tj ET Q q 0 0 0 rg BT 137.79 362.25 Td (ACC\) and goes into ef) Tj ET Q q 0 0 0 rg BT 241.07 362.25 Td (fect automatically unless suspended by the ) Tj ET Q q 0 0 0 rg BT 439.72 362.25 Td (ACC;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 348.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 334.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 334.65 Td (the PSA) Tj ET Q q 0 0 0 rg BT 158.89 334.65 Td ( uses a forward-looking estimate of fuel and purchased power costs to set the annual ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 320.85 Td (PSA) Tj ET Q q 0 0 0 rg BT 141.96 320.85 Td ( rate, which is reconciled to actual costs experienced for each PSA) Tj ET Q q 0 0 0 rg BT 447.24 320.85 Td ( ) Tj ET Q q 0 0 0 rg BT 449.69 320.85 Td (Y) Tj ET Q q 0 0 0 rg BT 456.85 320.85 Td (ear \(February1 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 307.05 Td (through January31\) \(see the following bullet point\);) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 324.00 293.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 279.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 279.45 Td (the PSA) Tj ET Q q 0 0 0 rg BT 158.89 279.45 Td ( rate includes \(a\)a Forward Component, under which ) Tj ET Q q 0 0 0 rg BT 417.56 279.45 Td (APS recovers or refunds ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 265.65 Td (dif) Tj ET Q q 0 0 0 rg BT 134.07 265.65 Td (ferences between expected fuel and purchased power costs for the upcoming calendar year ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 251.85 Td (and those embedded in the Base Fuel Rate; \(b\)a Historical Component, under which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 238.05 Td (dif) Tj ET Q q 0 0 0 rg BT 134.07 238.05 Td (ferences between actual fuel and purchased power costs and those recovered through the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 224.25 Td (combination of the Base Fuel Rate and the Forward Component are recovered during the next ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 210.45 Td (PSA) Tj ET Q q 0 0 0 rg BT 141.96 210.45 Td ( ) Tj ET Q q 0 0 0 rg BT 144.41 210.45 Td (Y) Tj ET Q q 0 0 0 rg BT 151.56 210.45 Td (ear; and \(c\)a T) Tj ET Q q 0 0 0 rg BT 226.50 210.45 Td (ransition Component, under which ) Tj ET Q q 0 0 0 rg BT 393.54 210.45 Td (APS may seek mid-year PSA) Tj ET Q q 0 0 0 rg BT 528.34 210.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 196.65 Td (changes due to lar) Tj ET Q q 0 0 0 rg BT 204.64 196.65 Td (ge variances between actual fuel and purchased power costs and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 182.85 Td (combination of the Base Fuel Rate and the Forward Component; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 169.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 155.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 155.25 Td (the PSA) Tj ET Q q 0 0 0 rg BT 158.89 155.25 Td ( rate may not be increased or decreased more than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.98 155.25 Td ($0.004) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 423.60 155.25 Td ( per kWh in a year without ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 141.45 Td (permission of the ) Tj ET Q q 0 0 0 rg BT 203.59 141.45 Td (ACC.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 127.65 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 191 0 obj <>] /Rotate 0 /Contents 192 0 R>> endobj 192 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (92) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (The following table shows the changes in the deferred fuel and purchased power regulatory asset for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 707.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 94.85 707.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 117.85 707.25 Td ( \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 657.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 657.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 657.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 657.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 629.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 629.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 629.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 629.95 65.00 -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 428 669.95 m 493 669.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 669.95 m 497 669.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 669.95 m 562 669.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 669.95 m 493 669.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 657.95 m 493 657.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 669.95 m 497 669.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 669.95 m 562 669.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 657.95 m 562 657.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 657.95 m 493 657.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 657.95 m 562 657.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 615.95 m 493 615.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 615.95 m 562 615.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 615.95 m 493 615.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 602.95 m 493 602.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 600.95 m 493 600.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 615.95 m 562 615.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 602.95 m 562 602.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 600.95 m 562 600.95 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 672.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.20 674.18 Td (YearEnded December31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 660.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.00 660.68 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 660.68 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 648.52 Td (Beginning balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 648.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 648.52 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 648.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 648.52 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 634.52 Td (Deferred fuel and purchased power costs - current period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 634.52 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 634.57 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 634.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 620.52 Td (Amounts charged to customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.80 620.57 Td (\(41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 620.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 620.57 Td (\(31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 620.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 606.52 Td (Ending balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 606.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 606.52 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 606.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 606.52 Td (21) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 588.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 574.85 Td (The PSA) Tj ET Q q 0 0 0 rg BT 126.72 574.85 Td ( rate for the PSA) Tj ET Q q 0 0 0 rg BT 203.37 574.85 Td ( year beginning February1, 2015 is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 370.09 574.85 Td ($0.000887) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 418.97 574.85 Td ( per kWh, as compared to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.05 Td ($0.001557) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 98.38 561.05 Td ( per kWh for the prior year) Tj ET Q q 0 0 0 rg BT 221.63 561.05 Td (. ) Tj ET Q q 0 0 0 rg BT 230.05 561.05 Td (This new rate is comprised of a forward component of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 482.98 561.05 Td ($0.001) Tj ET Q q 0 0 0 rg BT 514.17 561.05 Td (131) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.42 561.05 Td ( per ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.25 Td (kWh and a historical component of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.29 547.25 Td ($\(0.000244\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 270.82 547.25 Td ( per kWh. ) Tj ET Q q 0 0 0 rg BT 321.60 547.25 Td (Any uncollected \(overcollected\) deferrals during ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 533.45 Td (the 2015 PSA) Tj ET Q q 0 0 0 rg BT 112.76 533.45 Td ( year will be included in the calculation of the PSA) Tj ET Q q 0 0 0 rg BT 347.18 533.45 Td ( rate for the PSA) Tj ET Q q 0 0 0 rg BT 423.84 533.45 Td ( year beginning February1, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 519.65 Td (2016.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 505.85 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 492.05 Td (T) Tj ET Q q 0 0 0 rg BT 92.10 492.05 Td (ransmission Rates, T) Tj ET Q q 0 0 0 rg BT 191.05 492.05 Td (ransmission Cost ) Tj ET Q q 0 0 0 rg BT 274.99 492.05 Td (Adjustor and Other T) Tj ET Q q 0 0 0 rg BT 376.50 492.05 Td (ransmission Matters) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 473.32 492.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.07 492.05 Td ( In July2008, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.25 Td (FERC approved an Open ) Tj ET Q q 0 0 0 rg BT 167.68 478.25 Td (Access ) Tj ET Q q 0 0 0 rg BT 202.92 478.25 Td (T) Tj ET Q q 0 0 0 rg BT 209.54 478.25 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 267.15 478.25 Td (T) Tj ET Q q 0 0 0 rg BT 273.37 478.25 Td (arif) Tj ET Q q 0 0 0 rg BT 289.13 478.25 Td (f for ) Tj ET Q q 0 0 0 rg BT 311.48 478.25 Td (APS to move from fixed rates to a formula rate-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 464.45 Td (setting methodology in order to more accurately reflect and recover the costs that ) Tj ET Q q 0 0 0 rg BT 425.36 464.45 Td (APS incurs in providing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 450.65 Td (transmission services. ) Tj ET Q q 0 0 0 rg BT 155.55 450.65 Td (A) Tj ET Q q 0 0 0 rg BT 163.22 450.65 Td ( lar) Tj ET Q q 0 0 0 rg BT 178.01 450.65 Td (ge portion of the rate represents char) Tj ET Q q 0 0 0 rg BT 346.40 450.65 Td (ges for transmission services to serve ) Tj ET Q q 0 0 0 rg BT 520.15 450.65 Td (APS) Tj ET Q q 0 0 0 rg BT 544.44 450.65 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.85 Td (retail customers \(Retail ) Tj ET Q q 0 0 0 rg BT 164.57 436.85 Td (T) Tj ET Q q 0 0 0 rg BT 171.19 436.85 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 251.16 436.85 Td (ges\). In order to recover the Retail ) Tj ET Q q 0 0 0 rg BT 419.87 436.85 Td (T) Tj ET Q q 0 0 0 rg BT 426.49 436.85 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 506.46 436.85 Td (ges, ) Tj ET Q q 0 0 0 rg BT 526.90 436.85 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.05 Td (was previously required to file an application with, and obtain approval from, the ) Tj ET Q q 0 0 0 rg BT 425.39 423.05 Td (ACC to reflect changes in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.25 Td (Retail ) Tj ET Q q 0 0 0 rg BT 79.63 409.25 Td (T) Tj ET Q q 0 0 0 rg BT 86.25 409.25 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 166.22 409.25 Td (ges through the ) Tj ET Q q 0 0 0 rg BT 239.79 409.25 Td (TCA. Under the terms of the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 455.07 409.25 Td (Agreement, however) Tj ET Q q 0 0 0 rg BT 551.04 409.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 395.45 Td (an adjustment to rates to recover the Retail ) Tj ET Q q 0 0 0 rg BT 249.20 395.45 Td (T) Tj ET Q q 0 0 0 rg BT 255.82 395.45 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 335.79 395.45 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 49.50 381.65 Td (go into ef) Tj ET Q q 0 0 0 rg BT 93.37 381.65 Td (fect automatically unless suspended by the ) Tj ET Q q 0 0 0 rg BT 292.02 381.65 Td (ACC.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 367.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 354.05 Td (The formula rate is updated each year ef) Tj ET Q q 0 0 0 rg BT 270.80 354.05 Td (fective June1 on the basis of ) Tj ET Q q 0 0 0 rg BT 406.53 354.05 Td (APS) Tj ET Q q 0 0 0 rg BT 430.82 354.05 Td (s actual cost of service, as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.25 Td (disclosed in ) Tj ET Q q 0 0 0 rg BT 106.36 340.25 Td (APS) Tj ET Q q 0 0 0 rg BT 130.65 340.25 Td (s FERC Form1 report for the previous fiscal year) Tj ET Q q 0 0 0 rg BT 359.02 340.25 Td (. Items to be updated include actual capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 326.45 Td (expenditures made as compared with previous projections, transmission revenue credits and other items. ) Tj ET Q q 0 0 0 rg BT 535.37 326.45 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 312.65 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 516.11 312.65 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.85 Td (reviews the proposed formula rate filing amounts with the ) Tj ET Q q 0 0 0 rg BT 318.73 298.85 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 361.65 298.85 Td (f. ) Tj ET Q q 0 0 0 rg BT 373.47 298.85 Td (Any items or adjustments which are not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.05 Td (agreed to by ) Tj ET Q q 0 0 0 rg BT 108.58 285.05 Td (APS and the ) Tj ET Q q 0 0 0 rg BT 168.32 285.05 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 211.24 285.05 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 49.50 271.25 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 49.50 257.45 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 257.45 Td (fect on the Retail ) Tj ET Q q 0 0 0 rg BT 139.77 257.45 Td (T) Tj ET Q q 0 0 0 rg BT 146.39 257.45 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 226.36 257.45 Td (ge because any adjustment, though applied prospectively) Tj ET Q q 0 0 0 rg BT 487.80 257.45 Td (, may be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 243.65 Td (calculated to account for previously over) Tj ET Q q 0 0 0 rg BT 237.35 243.65 Td (- or under) Tj ET Q q 0 0 0 rg BT 282.46 243.65 Td (-collected amounts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 216.05 Td (Ef) Tj ET Q q 0 0 0 rg BT 96.15 216.05 Td (fective June1, 2014, ) Tj ET Q q 0 0 0 rg BT 193.88 216.05 Td (APS) Tj ET Q q 0 0 0 rg BT 218.17 216.05 Td (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 49.50 202.25 Td (system increased by approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.29 202.25 Td ($5.9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 270.52 202.25 Td ( for the twelve-month period beginning June1, 2014 in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 188.45 Td (accordance with the FERC-approved formula. ) Tj ET Q q 0 0 0 rg BT 266.98 188.45 Td (An adjustment to ) Tj ET Q q 0 0 0 rg BT 348.43 188.45 Td (APS) Tj ET Q q 0 0 0 rg BT 372.73 188.45 Td (s retail rates to recover FERC-approved ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 174.65 Td (transmission char) Tj ET Q q 0 0 0 rg BT 130.10 174.65 Td (ges went into ef) Tj ET Q q 0 0 0 rg BT 203.03 174.65 Td (fect automatically on June1, 2014.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 160.85 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 147.05 Td (Lost Fixed Cost Recovery Mechanism) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 265.02 147.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 267.89 147.05 Td ( ) Tj ET Q q 0 0 0 rg BT 273.44 147.05 Td (The LFCR mechanism permits ) Tj ET Q q 0 0 0 rg BT 417.81 147.05 Td (APS to recover on an after) Tj ET Q q 0 0 0 rg BT 539.89 147.05 Td (-the-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 133.25 Td (fact basis a portion of its fixed costs that would otherwise have been collected by ) Tj ET Q q 0 0 0 rg BT 424.75 133.25 Td (APS in the kWh sales lost ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 119.45 Td (due to ) Tj ET Q q 0 0 0 rg BT 80.17 119.45 Td (APS ener) Tj ET Q q 0 0 0 rg BT 123.72 119.45 Td (gy ef) Tj ET Q q 0 0 0 rg BT 146.82 119.45 Td (ficiency programs and to distributed generation such as rooftop solar arrays. ) Tj ET Q q 0 0 0 rg BT 502.69 119.45 Td (The fixed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 105.65 Td (costs recoverable by the LFCR mechanism were established in the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 435.31 105.65 Td (Agreement and amount to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.85 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 91.85 Td (3.1 cents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 159.68 91.85 Td ( per residential kWh lost and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 295.09 91.85 Td (2.3 cents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 335.97 91.85 Td ( per non-residential kWh lost. ) Tj ET Q q 0 0 0 rg BT 478.52 91.85 Td (The LFCR ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 78.05 Td (adjustment has a year) Tj ET Q q 0 0 0 rg BT 148.58 78.05 Td (-over) Tj ET Q q 0 0 0 rg BT 172.62 78.05 Td (-year cap of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 230.40 78.05 Td (1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.73 78.05 Td ( of retail revenues. ) Tj ET Q q 0 0 0 rg BT 336.42 78.05 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 64.25 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 64.25 Td (. ) Tj ET Q q 0 0 0 rg BT 389.96 64.25 Td (The kWh) Tj ET Q q 0 0 0 rg BT 436.27 64.25 Td (s lost from ener) Tj ET Q q 0 0 0 rg BT 507.92 64.25 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 50.45 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 50.45 Td (ficiency are based on a third-party evaluation of ) Tj ET Q q 0 0 0 rg BT 281.11 50.45 Td (APS) Tj ET Q q 0 0 0 rg BT 305.40 50.45 Td (s ener) Tj ET Q q 0 0 0 rg BT 332.34 50.45 Td (gy ef) Tj ET Q q 0 0 0 rg BT 355.44 50.45 Td (ficiency programs. Distributed generation ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 193 0 obj <>] /Rotate 0 /Contents 194 0 R>> endobj 194 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (93) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (sales losses are determined from the metered output from the distributed generation units or if metering is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (unavailable, through accepted estimating techniques.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.65 Td (APS filed its first LFCR adjustment on January15, 2013 and will file for a LFCR adjustment every ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (Januarythereafter) Tj ET Q q 0 0 0 rg BT 131.55 665.85 Td (. On February12, 2013, the ) Tj ET Q q 0 0 0 rg BT 263.79 665.85 Td (ACC approved a LFCR adjustment of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.38 665.85 Td ($5.1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 497.61 665.85 Td (, representing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (a pro-rated amount for 2012 since the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 302.76 652.05 Td (Agreement went into ef) Tj ET Q q 0 0 0 rg BT 411.44 652.05 Td (fect on July1, 2012. ) Tj ET Q q 0 0 0 rg BT 510.46 652.05 Td (APS filed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (its 2014 annual LFCR adjustment on January15, 2014, requesting a LFCR adjustment of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.83 638.25 Td ($25.3 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 524.81 638.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 624.45 Td (fective March1, 2014. ) Tj ET Q q 0 0 0 rg BT 168.19 624.45 Td (The ) Tj ET Q q 0 0 0 rg BT 188.31 624.45 Td (ACC approved ) Tj ET Q q 0 0 0 rg BT 259.86 624.45 Td (APS) Tj ET Q q 0 0 0 rg BT 284.15 624.45 Td (s LFCR adjustment without change on March1) Tj ET Q q 0 0 0 rg BT 502.52 624.45 Td (1, 2014, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (which became ef) Tj ET Q q 0 0 0 rg BT 127.19 610.65 Td (fective ) Tj ET Q q 0 0 0 rg BT 160.72 610.65 Td (April1, 2014. ) Tj ET Q q 0 0 0 rg BT 230.36 610.65 Td (APS filed its 2015 annual LFCR adjustment on January 15, 2015, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (requesting an LFCR adjustment of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 211.44 596.85 Td ($38.5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 273.42 596.85 Td ( ef) Tj ET Q q 0 0 0 rg BT 285.02 596.85 Td (fective March 1, 2015.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 583.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (Der) Tj ET Q q 0 0 0 rg BT 67.81 569.25 Td (egulation) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 541.65 Td (On May9, 2013, the ) Tj ET Q q 0 0 0 rg BT 182.93 541.65 Td (ACC voted to re-examine the facilitation of a deregulated retail electric market in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 94.96 527.85 Td (The ) Tj ET Q q 0 0 0 rg BT 115.08 527.85 Td (ACC subsequently opened a docket for this matter and received comments from a number of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (interested parties on the considerations involved in establishing retail electric deregulation in the state. One of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (these considerations is whether various aspects of a deregulated market, including setting utility rates on a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.45 Td (market basis, would be consistent with the requirements of the ) Tj ET Q q 0 0 0 rg BT 349.39 486.45 Td (Arizona Constitution. On September1) Tj ET Q q 0 0 0 rg BT 529.11 486.45 Td (1, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.65 Td (2013, after receiving legal advice from the ) Tj ET Q q 0 0 0 rg BT 247.48 472.65 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 290.39 472.65 Td (f, the ) Tj ET Q q 0 0 0 rg BT 316.26 472.65 Td (ACC voted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 371.21 472.65 Td (4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.96 472.65 Td (-1 to close the current docket and await ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (full ) Tj ET Q q 0 0 0 rg BT 67.71 458.85 Td (Arizona Constitutional authority before any further examination of this matter) Tj ET Q q 0 0 0 rg BT 426.36 458.85 Td (. ) Tj ET Q q 0 0 0 rg BT 434.78 458.85 Td (The motion approved by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.05 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 445.05 Td (ACC also included opening one or more new dockets in the future to explore options to of) Tj ET Q q 0 0 0 rg BT 480.78 445.05 Td (fer more rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (choices to customers and innovative changes within the existing cost-of-service regulatory model that could ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.45 Td (include elements of competition. ) Tj ET Q q 0 0 0 rg BT 205.78 417.45 Td (The ) Tj ET Q q 0 0 0 rg BT 225.90 417.45 Td (ACC opened a new docket on November4, 2013 to explore ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.65 Td (technological advances and innovative changes within the electric utility industry) Tj ET Q q 0 0 0 rg BT 423.36 403.65 Td (. ) Tj ET Q q 0 0 0 rg BT 431.35 403.65 Td (A) Tj ET Q q 0 0 0 rg BT 439.02 403.65 Td ( series of workshops in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.85 Td (this docket were held in 2014 and another is currently scheduled for February 26, 2015.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 362.25 Td (Net Metering) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 334.65 Td (On July12, 2013, ) Tj ET Q q 0 0 0 rg BT 169.84 334.65 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 325.07 334.65 Td (ACC proposing a solution to address the cost shift ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.85 Td (brought by the current net metering rules. On December3, 2013, the ) Tj ET Q q 0 0 0 rg BT 370.14 320.85 Td (ACC issued its order on ) Tj ET Q q 0 0 0 rg BT 482.90 320.85 Td (APS) Tj ET Q q 0 0 0 rg BT 507.20 320.85 Td (s net ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.05 Td (metering proposal. ) Tj ET Q q 0 0 0 rg BT 141.27 307.05 Td (The ) Tj ET Q q 0 0 0 rg BT 161.39 307.05 Td (ACC instituted a char) Tj ET Q q 0 0 0 rg BT 261.16 307.05 Td (ge on customers who install rooftop solar panels after ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.87 293.25 Td (, and directed ) Tj ET Q q 0 0 0 rg BT 204.38 293.25 Td (APS to provide quarterly reports on the pace of rooftop solar adoption to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.45 Td (assist the ) Tj ET Q q 0 0 0 rg BT 93.59 279.45 Td (ACC in considering further increases. ) Tj ET Q q 0 0 0 rg BT 273.18 279.45 Td (The char) Tj ET Q q 0 0 0 rg BT 313.52 279.45 Td (ge of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 339.70 279.45 Td ($0.70) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 365.58 279.45 Td ( per kilowatt became ef) Tj ET Q q 0 0 0 rg BT 473.29 279.45 Td (fective on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.65 Td (January1, 2014, and is estimated to collect ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 250.70 265.65 Td ($4.90) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 276.58 265.65 Td ( per month from a typical future rooftop solar customer to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.85 Td (help pay for their use of the electricity grid. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 238.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 224.25 Td (In making its decision, the ) Tj ET Q q 0 0 0 rg BT 209.43 224.25 Td (ACC determined that the current net metering program creates a cost shift, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.45 Td (causing non-solar utility customers to pay higher rates to cover the costs of maintaining the electrical grid. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.65 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 92.42 196.65 Td (f and the state) Tj ET Q q 0 0 0 rg BT 159.80 196.65 Td (s Residential Utility Consumer Of) Tj ET Q q 0 0 0 rg BT 316.75 196.65 Td (fice, among other or) Tj ET Q q 0 0 0 rg BT 409.78 196.65 Td (ganizations, also agreed that a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.85 Td (cost shift exists. ) Tj ET Q q 0 0 0 rg BT 128.83 182.85 Td (The fixed char) Tj ET Q q 0 0 0 rg BT 195.67 182.85 Td (ge does not increase ) Tj ET Q q 0 0 0 rg BT 290.84 182.85 Td (APS) Tj ET Q q 0 0 0 rg BT 315.13 182.85 Td (s revenue because it is credited to the LFCR, but it ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.05 Td (will modestly reduce the impact of the cost shift on non-solar customers. ) Tj ET Q q 0 0 0 rg BT 389.75 169.05 Td (The ) Tj ET Q q 0 0 0 rg BT 409.87 169.05 Td (ACC acknowledged that the new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.25 Td (char) Tj ET Q q 0 0 0 rg BT 69.08 155.25 Td (ge addresses only a portion of the cost shift. ) Tj ET Q q 0 0 0 rg BT 276.79 155.25 Td (The ) Tj ET Q q 0 0 0 rg BT 296.91 155.25 Td (ACC also required ) Tj ET Q q 0 0 0 rg BT 385.39 155.25 Td (APS to file its next rate case in June ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.45 Td (2015, the earliest date contemplated in the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 324.15 141.45 Td (Agreement.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 113.85 Td (In May2014, the ) Tj ET Q q 0 0 0 rg BT 166.95 113.85 Td (ACC began conducting a series of workshops to, among other things, evaluate the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.05 Td (role and value of the electric grid as it relates to rooftop solar and other issues regarding net metering.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 86.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 72.45 Td (On July22, 2014, the ) Tj ET Q q 0 0 0 rg BT 186.77 72.45 Td (ACC Commissioners voted to reopen the December2013 net metering decision ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.65 Td (for the limited purpose of deciding whether to eliminate the requirement that ) Tj ET Q q 0 0 0 rg BT 404.62 58.65 Td (APS file its next rate case in June ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 195 0 obj <>] /Rotate 0 /Contents 196 0 R>> endobj 196 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (94) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (2015. ) Tj ET Q q 0 0 0 rg BT 80.92 721.05 Td (The vote included a request that parties comment in the docket about their thoughts on removing the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (filing date requirement and on the process for the broader discussion regarding rate design. On ) Tj ET Q q 0 0 0 rg BT 487.02 707.25 Td (August 12, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (2014, the ) Tj ET Q q 0 0 0 rg BT 94.54 693.45 Td (ACC Commissioners voted to lift the requirement that ) Tj ET Q q 0 0 0 rg BT 346.88 693.45 Td (APS file its next general rate case by June ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (2015. On September 29, 2014, the staf) Tj ET Q q 0 0 0 rg BT 226.56 679.65 Td (f of the ) Tj ET Q q 0 0 0 rg BT 262.01 679.65 Td (ACC filed in a new docket a proposal for permitting a utility to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (request ) Tj ET Q q 0 0 0 rg BT 84.95 665.85 Td (ACC approval of its proposed rate design outside of and before a general rate case. On October 20, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (2014, ) Tj ET Q q 0 0 0 rg BT 77.62 652.05 Td (APS and other interested stakeholders filed comments to this proposal. No further action has been taken ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (in this docket.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (Four) Tj ET Q q 0 0 0 rg BT 73.57 610.65 Td ( Corners) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 583.05 Td (On December30, 2013, ) Tj ET Q q 0 0 0 rg BT 197.92 583.05 Td (APS purchased SCE) Tj ET Q q 0 0 0 rg BT 295.67 583.05 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.02 583.05 Td (48%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 324.10 583.05 Td ( ownership interest in each of Units 4 and 5 of Four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (Corners. ) Tj ET Q q 0 0 0 rg BT 94.33 569.25 Td (The 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 192.38 569.25 Td (Agreement includes a procedure to allow ) Tj ET Q q 0 0 0 rg BT 383.99 569.25 Td (APS to request rate adjustments prior ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td (to its next general rate case related to ) Tj ET Q q 0 0 0 rg BT 222.57 555.45 Td (APS) Tj ET Q q 0 0 0 rg BT 246.86 555.45 Td (s acquisition of the additional interests in Units 4 and 5 and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (related closure of Units 1-3 of Four Corners. ) Tj ET Q q 0 0 0 rg BT 259.65 541.65 Td (APS made its filing under this provision on December30, 2013. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (On December 23, 2014, the ) Tj ET Q q 0 0 0 rg BT 178.84 527.85 Td (ACC approved rate adjustments resulting in a revenue increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 484.14 527.85 Td ($57.1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.12 527.85 Td ( on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (an annual basis. ) Tj ET Q q 0 0 0 rg BT 128.18 514.05 Td (This includes the deferral for future recovery of all non-fuel operating costs for the acquired ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (SCE interest in Four Corners, net of the non-fuel operating costs savings resulting from the closure of Units ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.45 Td (1-3 from the date of closing of the purchase through its inclusion in rates. ) Tj ET Q q 0 0 0 rg BT 392.94 486.45 Td (The 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 491.00 486.45 Td (Agreement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.65 Td (also provides for deferral for future recovery of all unrecovered costs incurred in connection with the closure ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (of Units 1-3. ) Tj ET Q q 0 0 0 rg BT 113.50 458.85 Td (The deferral balance related to the acquisition of SCE) Tj ET Q q 0 0 0 rg BT 363.85 458.85 Td (s interest in Units 4 and 5 and the closure ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.05 Td (of Units 1-3 was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 128.72 445.05 Td ($77 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 182.07 445.05 Td ( as of December31, 2014 and is being amortized in rates over ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 470.12 445.05 Td (10) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 481.62 445.05 Td ( years.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.51 445.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 418.05 Td (As part of ) Tj ET Q q 0 0 0 rg BT 133.73 418.05 Td (APS) Tj ET Q q 0 0 0 rg BT 158.02 418.05 Td (s acquisition of SCE) Tj ET Q q 0 0 0 rg BT 255.46 418.05 Td (s interest in Units 4 and 5, ) Tj ET Q q 0 0 0 rg BT 378.12 418.05 Td (APS and SCE agreed, via a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 404.25 Td (T) Tj ET Q q 0 0 0 rg BT 61.23 404.25 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 118.84 404.25 Td (T) Tj ET Q q 0 0 0 rg BT 125.06 404.25 Td (ermination ) Tj ET Q q 0 0 0 rg BT 177.12 404.25 Td (Agreement that, upon closing of the acquisition, the companies would terminate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 390.45 Td (an existing transmission agreement \(T) Tj ET Q q 0 0 0 rg BT 229.86 390.45 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 287.04 390.45 Td (Agreement\) between the parties that provides transmission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.65 Td (capacity on a system \(the Arizona ) Tj ET Q q 0 0 0 rg BT 213.42 376.65 Td (T) Tj ET Q q 0 0 0 rg BT 220.05 376.65 Td (ransmission System\) for SCE to transmit its portion of the output from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.85 Td (Four Corners to California. ) Tj ET Q q 0 0 0 rg BT 179.82 362.85 Td (APS previously submitted a request to FERC related to this termination, which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 349.05 Td (resulted in a FERC order denying rate recovery of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 282.94 349.05 Td ($40 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 336.29 349.05 Td ( that ) Tj ET Q q 0 0 0 rg BT 358.65 349.05 Td (APS agreed to pay SCE associated with the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 335.25 Td (termination. ) Tj ET Q q 0 0 0 rg BT 110.51 335.25 Td (APS and SCE negotiated an alternate arrangement under which SCE would assign its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 506.23 335.25 Td (1,555) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.10 335.25 Td ( MW) Tj ET Q q 0 0 0 rg BT 555.85 335.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.45 Td (capacity rights over the ) Tj ET Q q 0 0 0 rg BT 159.35 321.45 Td (Arizona ) Tj ET Q q 0 0 0 rg BT 199.06 321.45 Td (T) Tj ET Q q 0 0 0 rg BT 205.68 321.45 Td (ransmission System to third-parties, including ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.33 321.45 Td (300) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 437.58 321.45 Td ( MW) Tj ET Q q 0 0 0 rg BT 461.33 321.45 Td ( to ) Tj ET Q q 0 0 0 rg BT 475.39 321.45 Td (APS) Tj ET Q q 0 0 0 rg BT 499.69 321.45 Td (s marketing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.65 Td (and trading group. However) Tj ET Q q 0 0 0 rg BT 181.57 307.65 Td (, this alternative arrangement was not approved by FERC. In late March2014, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.85 Td (APS and SCE filed requests for rehearing with FERC. Both requests for rehearing were denied on ) Tj ET Q q 0 0 0 rg BT 505.58 293.85 Td (August 14, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 280.05 Td (2014. ) Tj ET Q q 0 0 0 rg BT 80.49 280.05 Td (Although ) Tj ET Q q 0 0 0 rg BT 126.18 280.05 Td (APS and SCE continue to evaluate potential paths forward, it is possible that the terms of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 266.25 Td (T) Tj ET Q q 0 0 0 rg BT 56.12 266.25 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 113.73 266.25 Td (T) Tj ET Q q 0 0 0 rg BT 119.96 266.25 Td (ermination ) Tj ET Q q 0 0 0 rg BT 172.02 266.25 Td (Agreement may again control. ) Tj ET Q q 0 0 0 rg BT 314.13 266.25 Td (As we previously disclosed, ) Tj ET Q q 0 0 0 rg BT 445.41 266.25 Td (APS believes that the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 252.45 Td (original denial by FERC of rate recovery under the ) Tj ET Q q 0 0 0 rg BT 286.57 252.45 Td (T) Tj ET Q q 0 0 0 rg BT 293.19 252.45 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 350.80 252.45 Td (T) Tj ET Q q 0 0 0 rg BT 357.03 252.45 Td (ermination ) Tj ET Q q 0 0 0 rg BT 409.09 252.45 Td (Agreement constitutes the failure ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.65 Td (of a condition that relieves ) Tj ET Q q 0 0 0 rg BT 174.37 238.65 Td (APS of its obligations under that agreement. If ) Tj ET Q q 0 0 0 rg BT 394.12 238.65 Td (APS and SCE were unable to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.85 Td (determine a resolution through negotiation, the ) Tj ET Q q 0 0 0 rg BT 268.06 224.85 Td (T) Tj ET Q q 0 0 0 rg BT 274.68 224.85 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 332.30 224.85 Td (T) Tj ET Q q 0 0 0 rg BT 338.52 224.85 Td (ermination ) Tj ET Q q 0 0 0 rg BT 390.58 224.85 Td (Agreement requires that disputes be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 211.05 Td (resolved through arbitration. ) Tj ET Q q 0 0 0 rg BT 185.87 211.05 Td (APS is unable to predict the outcome of this matter if it proceeds to arbitration. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 197.25 Td (If the matter proceeds to arbitration and ) Tj ET Q q 0 0 0 rg BT 234.39 197.25 Td (APS is not successful, ) Tj ET Q q 0 0 0 rg BT 338.86 197.25 Td (APS may be required to record a char) Tj ET Q q 0 0 0 rg BT 512.05 197.25 Td (ge to its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 183.45 Td (results of operations. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 155.85 Td (Cholla) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 128.25 Td (After considering the costs to comply with environmental regulations, on September 1) Tj ET Q q 0 0 0 rg BT 482.38 128.25 Td (1, 2014, ) Tj ET Q q 0 0 0 rg BT 522.00 128.25 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 114.45 Td (announced that it will close Cholla Unit 2 by ) Tj ET Q q 0 0 0 rg BT 258.07 114.45 Td (April 2016 and cease burning coal at the other ) Tj ET Q q 0 0 0 rg BT 472.99 114.45 Td (APS-owned units ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.65 Td (\(Units 1 and 3\) at the plant by the mid-2020s, if EP) Tj ET Q q 0 0 0 rg BT 284.17 100.65 Td (A) Tj ET Q q 0 0 0 rg BT 291.84 100.65 Td ( approves a compromise proposal of) Tj ET Q q 0 0 0 rg BT 458.66 100.65 Td (fered by ) Tj ET Q q 0 0 0 rg BT 498.89 100.65 Td (APS to meet ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.85 Td (required environmental and emissions standards and rules. Previously) Tj ET Q q 0 0 0 rg BT 375.80 86.85 Td (, ) Tj ET Q q 0 0 0 rg BT 380.92 86.85 Td (APS estimated Cholla Unit 2) Tj ET Q q 0 0 0 rg BT 517.64 86.85 Td (s end of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 73.05 Td (life to be 2033. ) Tj ET Q q 0 0 0 rg BT 124.24 73.05 Td (APS is currently recovering depreciation and a return on the net book value of the unit in base ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 59.25 Td (rates and plans to seek recovery of all of the unit) Tj ET Q q 0 0 0 rg BT 276.23 59.25 Td (s retirement-related costs in its next retail rate case. ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 197 0 obj <>] /Rotate 0 /Contents 198 0 R>> endobj 198 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (95) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (If ) Tj ET Q q 0 0 0 rg BT 95.40 721.05 Td (APS closes Cholla Unit 2, ) Tj ET Q q 0 0 0 rg BT 218.08 721.05 Td (APS believes it will be allowed recovery of the remaining net book value ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (of Unit 2 \() Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 97.73 707.25 Td ($128 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 156.83 707.25 Td ( as of December 31, 2014\), in addition to a return on its investment. In accordance with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (GAAP) Tj ET Q q 0 0 0 rg BT 79.54 693.45 Td (, in the third quarter of 2014, Unit 2) Tj ET Q q 0 0 0 rg BT 247.54 693.45 Td (s remaining net book value was reclassified from property) Tj ET Q q 0 0 0 rg BT 514.41 693.45 Td (, plant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (and equipment to a regulatory asset. If the ) Tj ET Q q 0 0 0 rg BT 251.01 679.65 Td (ACC does not allow full recovery of the remaining net book value ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (of Cholla Unit 2, all or a portion of the regulatory asset will be written of) Tj ET Q q 0 0 0 rg BT 385.28 665.85 Td (f and ) Tj ET Q q 0 0 0 rg BT 410.83 665.85 Td (APS) Tj ET Q q 0 0 0 rg BT 435.12 665.85 Td (s net income, cash flows, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (and financial position will be negatively impacted.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 626.25 Td (Regulatory ) Tj ET Q q 0 0 0 rg BT 106.68 626.25 Td (Assets and Liabilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 612.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 598.65 Td (The detail of regulatory assets is as follows \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 554.15 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 554.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 554.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 554.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 554.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 554.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 554.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 554.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 554.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 554.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 524.15 196.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 524.15 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 524.15 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 524.15 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 524.15 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 524.15 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 524.15 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 524.15 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 524.15 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 524.15 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 484.15 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 484.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 484.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 484.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 484.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 484.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 484.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 484.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 484.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 484.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 454.15 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 454.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 454.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 454.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 454.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 454.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 454.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 454.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 454.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 454.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 424.15 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 424.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 424.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 424.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 424.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 424.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 424.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 424.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 424.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 424.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 394.15 196.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 394.15 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 394.15 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 394.15 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 394.15 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 394.15 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 394.15 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 394.15 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 394.15 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 394.15 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 344.15 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 344.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 344.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 344.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 344.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 344.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 344.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 344.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 344.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 344.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 314.15 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 314.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 314.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 314.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 314.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 314.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 314.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 314.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 314.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 314.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 284.15 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 284.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 284.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 284.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 284.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 284.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 284.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 284.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 284.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 284.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 254.15 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 254.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 254.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 254.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 254.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 254.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 254.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 254.15 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 254.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 254.15 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 310 567.15 m 370 567.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 567.15 m 374 567.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 567.15 m 434 567.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 567.15 m 498 567.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 567.15 m 502 567.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 567.15 m 562 567.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 554.15 m 306 554.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 554.15 m 370 554.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 567.15 m 434 567.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 554.15 m 434 554.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 554.15 m 498 554.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 567.15 m 562 567.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 554.15 m 562 554.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 554.15 m 306 554.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 554.15 m 370 554.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 554.15 m 434 554.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 554.15 m 498 554.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 554.15 m 562 554.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 254.14999999999998 m 370 254.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 254.14999999999998 m 434 254.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 254.14999999999998 m 498 254.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 254.14999999999998 m 562 254.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 254.14999999999998 m 370 254.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 240.14999999999998 m 370 240.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 238.14999999999998 m 370 238.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 254.14999999999998 m 434 254.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 240.14999999999998 m 434 240.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 238.14999999999998 m 434 238.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 254.14999999999998 m 498 254.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 240.14999999999998 m 498 240.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 238.14999999999998 m 498 238.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 254.14999999999998 m 562 254.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 240.14999999999998 m 562 240.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 238.14999999999998 m 562 238.14999999999998 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 569.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 256.80 579.38 Td (Remaining) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.60 571.38 Td (Amortization) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.25 571.38 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.25 571.38 Td (December 31, 2013) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 556.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 264.15 558.38 Td (Period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.55 558.38 Td (Current) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.10 558.38 Td (Non-Current) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.55 558.38 Td (Current) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.10 558.38 Td (Non-Current) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 544.72 Td (Pension and other postretirement benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.40 543.82 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.50 543.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 543.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.50 543.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 543.82 Td (485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 543.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 543.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 543.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 543.82 Td (314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 529.72 Td (Income taxes AFUDC equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 528.82 Td (2044) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 528.82 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 528.82 Td (118) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 528.82 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 528.82 Td (105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 514.72 Td (Deferred fuel and purchased power mark-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 504.72 Td (to-market \(Note 16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 503.82 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 503.82 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 503.82 Td (46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 503.82 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 503.82 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 489.72 Td (Transmission vegetation management) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 488.82 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 488.82 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 488.82 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 488.82 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 488.82 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 474.72 Td (Coal reclamation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 473.82 Td (2026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 473.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 473.82 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 473.82 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 473.82 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 459.72 Td (Palo Verde VIEs \(Note 18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 458.82 Td (2046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 458.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 458.82 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 458.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 458.82 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 444.72 Td (Deferred compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 443.82 Td (2036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 443.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 443.82 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 443.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 443.82 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 429.72 Td (Deferred fuel and purchased power \(b\)\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 428.82 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 428.82 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 428.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 428.82 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 428.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 414.72 Td (Tax expense of Medicare subsidy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 413.82 Td (2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 413.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 413.82 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 413.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 413.82 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 399.72 Td (Loss on reacquired debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 398.82 Td (2034) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 398.82 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 398.82 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 398.82 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 398.82 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 384.72 Td (Income taxes investment tax credit basis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 374.72 Td (adjustment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 373.82 Td (2044) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 373.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 373.82 Td (46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 373.82 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 373.82 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 359.72 Td (Pension and other postretirement benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 349.72 Td (deferral) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 348.82 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 348.82 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 348.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 348.82 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 348.82 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 334.72 Td (Four Corners cost deferral) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 333.82 Td (2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 333.82 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 333.82 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 333.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 333.82 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 319.72 Td (Lost fixed cost recovery) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 318.82 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 318.82 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 318.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 318.82 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 318.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 304.72 Td (Transmission cost adjustor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 303.82 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 303.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 303.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 303.82 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 303.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 289.72 Td (Retired power plant costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 288.82 Td (2033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 288.82 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 288.82 Td (136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 288.82 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 288.82 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 274.72 Td (Deferred property taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.80 273.82 Td (\(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 273.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 273.82 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 273.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 273.82 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 259.72 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.90 258.82 Td (Various) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 258.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 258.82 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 258.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 258.82 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 244.72 Td (Total regulatory assets \(e\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 302.50 241.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.50 243.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 243.82 Td (138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.50 243.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 243.82 Td (1,054) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 243.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 243.82 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 243.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 243.82 Td (712) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 206.05 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 206.05 Td (This asset represents the future recovery of pension and other postretirement benefit obligations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 192.25 Td (through retail rates. If these costs are disallowed by the ) Tj ET Q q 0 0 0 rg BT 362.18 192.25 Td (ACC, this regulatory asset would be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 178.45 Td (char) Tj ET Q q 0 0 0 rg BT 123.08 178.45 Td (ged to OCI and result in lower future revenues. See Note 7 for further discussion.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 164.65 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 164.65 Td (See Cost Recovery Mechanisms discussion above.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 150.85 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 150.85 Td (Subject to a carrying char) Tj ET Q q 0 0 0 rg BT 221.44 150.85 Td (ge.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 137.05 Td (\(d\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 137.05 Td (Per the provision of the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 291.63 137.05 Td (Agreement.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 123.25 Td (\(e\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 123.25 Td (There are no regulatory assets for which the ) Tj ET Q q 0 0 0 rg BT 307.87 123.25 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 103.50 109.45 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 103.50 95.65 Td (T) Tj ET Q q 0 0 0 rg BT 115.23 95.65 Td (ransmission Rates, ) Tj ET Q q 0 0 0 rg BT 204.14 95.65 Td (T) Tj ET Q q 0 0 0 rg BT 210.76 95.65 Td (ransmission Cost ) Tj ET Q q 0 0 0 rg BT 291.91 95.65 Td (Adjustor and Other ) Tj ET Q q 0 0 0 rg BT 383.37 95.65 Td (T) Tj ET Q q 0 0 0 rg BT 389.99 95.65 Td (ransmission Matters.) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 199 0 obj <>] /Rotate 0 /Contents 200 0 R>> endobj 200 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (96) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 721.05 Td (The detail of regulatory liabilities is as follows \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 676.55 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 676.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 676.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 676.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 676.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 676.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 676.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 676.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 676.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 676.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 646.55 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 646.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 646.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 646.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 646.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 646.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 646.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 646.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 646.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 646.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 616.55 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 616.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 616.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 616.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 616.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 616.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 616.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 616.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 616.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 616.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 586.55 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 586.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 586.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 586.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 586.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 586.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 586.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 586.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 586.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 586.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 556.55 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 556.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 556.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 556.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 556.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 556.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 556.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 556.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 556.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 556.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 526.55 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 526.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 526.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 526.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 526.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 526.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 526.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 526.55 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 526.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 526.55 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 310 689.55 m 370 689.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 689.55 m 374 689.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 689.55 m 434 689.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 689.55 m 498 689.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 689.55 m 502 689.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 689.55 m 562 689.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 676.55 m 306 676.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 676.55 m 370 676.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 689.55 m 434 689.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 676.55 m 434 676.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 676.55 m 498 676.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 689.55 m 562 689.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 676.55 m 562 676.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 676.55 m 306 676.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 676.55 m 370 676.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 676.55 m 434 676.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 676.55 m 498 676.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 676.55 m 562 676.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 526.55 m 370 526.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 526.55 m 434 526.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 526.55 m 498 526.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 526.55 m 562 526.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 526.55 m 370 526.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 512.55 m 370 512.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 510.55 m 370 510.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 526.55 m 434 526.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 512.55 m 434 512.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 510.55 m 434 510.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 526.55 m 498 526.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 512.55 m 498 512.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 510.55 m 498 510.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 526.55 m 562 526.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 512.55 m 562 512.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 510.55 m 562 510.55 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 692.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 256.80 701.78 Td (Remaining) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.60 693.78 Td (Amortization) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.25 693.78 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.25 693.78 Td (December 31, 2013) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 679.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 264.15 680.78 Td (Period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.55 680.78 Td (Current) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.10 680.78 Td (Non-Current) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.55 680.78 Td (Current) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.10 680.78 Td (Non-Current) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 667.12 Td (Removal costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.40 666.22 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.50 666.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 666.22 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.50 666.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 666.22 Td (273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 666.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 666.22 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 666.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 666.22 Td (303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 652.12 Td (Asset retirement obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 651.22 Td (2044) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 651.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 651.22 Td (296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 651.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 651.22 Td (266) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 637.12 Td (Renewable energy standard \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 636.22 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 636.22 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 636.22 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 636.22 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 636.22 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 622.12 Td (Income taxes change in rates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 621.22 Td (2043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 621.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 621.22 Td (72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 621.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 621.22 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 607.12 Td (Spent nuclear fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 606.22 Td (2047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 606.22 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 606.22 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 606.22 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 606.22 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 592.12 Td (Deferred gains on utility property) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 591.22 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 591.22 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 591.22 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 591.22 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 591.22 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 577.12 Td (Income taxes deferred investment tax credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 576.22 Td (2043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 576.22 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 576.22 Td (93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 576.22 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 576.22 Td (79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 562.12 Td (Demand side management \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 561.22 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 561.22 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 561.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 561.22 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 561.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 547.12 Td (Other postretirement benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.40 546.22 Td (\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 546.22 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 546.22 Td (199) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 546.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 546.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 532.12 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.90 531.22 Td (Various) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 531.22 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 531.22 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 531.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 531.22 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 517.12 Td (Total regulatory liabilities) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 302.50 514.31 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.50 516.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 516.22 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.50 516.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 516.22 Td (1,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 516.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 516.22 Td (99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 516.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 516.22 Td (801) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 478.45 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 130.50 478.45 Td (In accordance with regulatory accounting guidance, ) Tj ET Q q 0 0 0 rg BT 370.94 478.45 Td (APS accrues for removal costs for its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 130.50 464.65 Td (regulated assets, even if there is no legal obligation for removal \(see Note 1) Tj ET Q q 0 0 0 rg BT 477.52 464.65 Td (1\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 450.85 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 130.50 450.85 Td (See Cost Recovery Mechanisms discussion above.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 437.05 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 130.50 437.05 Td (See Note 7.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 423.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 409.45 Td (4. Income ) Tj ET Q q 0 0 0 rg BT 134.58 409.45 Td (T) Tj ET Q q 0 0 0 rg BT 141.19 409.45 Td (axes) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 395.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 381.85 Td (Certain assets and liabilities are reported dif) Tj ET Q q 0 0 0 rg BT 287.76 381.85 Td (ferently for income tax purposes than they are for financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.05 Td (statement purposes. ) Tj ET Q q 0 0 0 rg BT 145.75 368.05 Td (The tax ef) Tj ET Q q 0 0 0 rg BT 192.15 368.05 Td (fect of these dif) Tj ET Q q 0 0 0 rg BT 263.79 368.05 Td (ferences is recorded as deferred taxes. ) Tj ET Q q 0 0 0 rg BT 444.29 368.05 Td (W) Tj ET Q q 0 0 0 rg BT 454.22 368.05 Td (e calculate deferred ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.25 Td (taxes using currently enacted income tax rates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 340.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 326.65 Td (APS has recorded regulatory assets and regulatory liabilities related to income taxes on its Balance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 312.85 Td (Sheets in accordance with accounting guidance for regulated operations. ) Tj ET Q q 0 0 0 rg BT 388.10 312.85 Td (The regulatory assets are for certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.05 Td (temporary dif) Tj ET Q q 0 0 0 rg BT 112.20 299.05 Td (ferences, primarily the allowance for equity funds used during construction and pension and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.25 Td (postretirement benefits. ) Tj ET Q q 0 0 0 rg BT 163.62 285.25 Td (The regulatory liabilities primarily relate to deferred taxes resulting from investment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 271.45 Td (tax credits \(ITC\) and the change in income tax rates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 257.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 243.85 Td (In accordance with regulatory requirements, ) Tj ET Q q 0 0 0 rg BT 291.14 243.85 Td (APS ITCs are deferred and are amortized over the life of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.05 Td (the related property with such amortization applied as a credit to reduce current income tax expense in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.25 Td (statement of income.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 202.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 188.65 Td (During the year ended December 31, 2013, IRS guidance was released which provided clarification ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 174.85 Td (regarding an ) Tj ET Q q 0 0 0 rg BT 109.53 174.85 Td (APS tax accounting method change approved by the IRS in the third quarter of 2009. ) Tj ET Q q 0 0 0 rg BT 506.53 174.85 Td (As a result ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.05 Td (of this guidance, uncertain tax positions decreased ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 283.90 161.05 Td ($67) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 301.15 161.05 Td ( million. ) Tj ET Q q 0 0 0 rg BT 345.25 161.05 Td (Additionally) Tj ET Q q 0 0 0 rg BT 402.63 161.05 Td (, the IRS finalized the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.25 Td (examination of tax returns for the years ended December31, 2008 and 2009, which further ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 470.71 147.25 Td (reduced uncertain ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 134.05 Td (tax positions by approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 188.20 134.05 Td ($41) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 204.70 134.05 Td ( million. ) Tj ET Q q 0 0 0 rg BT 247.29 134.05 Td (These reductions in uncertain tax positions were materially of) Tj ET Q q 0 0 0 rg BT 518.94 134.05 Td (fset by an ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 120.25 Td (increase in deferred tax liabilities. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 204.35 120.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 92.65 Td (Included in the current income tax receivable on the Consolidated Balance Sheets as of December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 78.85 Td (2013 was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 96.14 78.85 Td ($133 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 155.24 78.85 Td ( that represented an anticipated IRS refund related to the finalized examinations of tax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 65.05 Td (years ended December 31, 2008 and 2009. Cash related to this refund was received in the first quarter of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 51.25 Td (2014.) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 201 0 obj <>] /Rotate 0 /Contents 202 0 R>> endobj 202 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (97) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.25 Td (On September13, 2013, the U.S. ) Tj ET Q q 0 0 0 rg BT 240.53 707.25 Td (T) Tj ET Q q 0 0 0 rg BT 247.15 707.25 Td (reasury Department released final income tax regulations on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (deduction and capitalization of expenditures related to tangible property) Tj ET Q q 0 0 0 rg BT 380.22 693.45 Td (. ) Tj ET Q q 0 0 0 rg BT 388.64 693.45 Td (These final regulations apply to tax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (years beginning on or after January1, 2014. Several of the provisions within the regulations require a tax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (accounting method change to be filed with the IRS prior to September 15, 2015, resulting in a tax-ef) Tj ET Q q 0 0 0 rg BT 510.78 665.85 Td (fected ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (cumulative ef) Tj ET Q q 0 0 0 rg BT 112.20 652.05 Td (fect adjustment of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 267.40 652.05 Td ($82 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 320.75 652.05 Td (. ) Tj ET Q q 0 0 0 rg BT 329.17 652.05 Td (The anticipated impact of these final regulations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (has been accounted for in the Consolidated Balance Sheets as of December 31, 2013 and 2014. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.65 Td (Net income associated with the Palo ) Tj ET Q q 0 0 0 rg BT 255.20 610.65 Td (V) Tj ET Q q 0 0 0 rg BT 262.23 610.65 Td (erde sale leaseback ) Tj ET Q q 0 0 0 rg BT 353.01 610.65 Td (VIEs is not subject to tax \(see Note 18\). ) Tj ET Q q 0 0 0 rg BT 541.77 610.65 Td (As ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (a result, there is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 125.18 596.85 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 136.68 596.85 Td ( income tax expense associated with the ) Tj ET Q q 0 0 0 rg BT 323.30 596.85 Td (VIEs recorded on the Consolidated Statements of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (Income.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.45 Td (The following is a tabular reconciliation of the total amounts of unrecognized tax benefits, excluding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (interest and penalties, at the beginning and end of the year that are included in accrued taxes and unrecognized ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (tax benefits \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 504.35 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 504.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 504.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 504.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 504.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 504.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 474.35 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 474.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 474.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 474.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 474.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 474.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 444.35 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 444.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 444.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 444.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 444.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 444.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 414.35 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 414.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 414.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 414.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 414.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 414.35 65.00 -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 359 504.35 m 424 504.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 504.35 m 493 504.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 504.35 m 562 504.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 399.35 m 424 399.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 399.35 m 493 399.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 399.35 m 562 399.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 399.35 m 424 399.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 385.35 m 424 385.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 383.35 m 424 383.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 399.35 m 493 399.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 385.35 m 493 385.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 383.35 m 493 383.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 399.35 m 562 399.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 385.35 m 562 385.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 383.35 m 562 383.35 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 507.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 508.58 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 508.58 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 508.58 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 494.92 Td (Total unrecognized tax benefits, January1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 494.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 494.02 Td (41,997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 494.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 494.02 Td (133,422) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 494.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 494.02 Td (136,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 479.92 Td (Additions for tax positions of the current year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 479.02 Td (4,309) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 479.02 Td (3,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 479.02 Td (5,167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 464.92 Td (Additions for tax positions of prior years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 464.02 Td (751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 464.02 Td (13,158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 464.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 449.92 Td (Reductions for tax positions of prior years for:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 447.11 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 447.11 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 447.11 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 434.92 Td (Changes in judgment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.30 434.07 Td (\(2,282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 434.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 434.07 Td (\(108,099) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 434.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 434.07 Td (\(7,729) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 434.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 419.92 Td (Settlements with taxing authorities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 419.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 419.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 419.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 404.92 Td (Lapses of applicable statute of limitations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 404.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 404.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 404.07 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 404.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 389.92 Td (Total unrecognized tax benefits, December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 389.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 389.02 Td (44,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 389.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 389.02 Td (41,997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 389.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 389.02 Td (133,422) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 371.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 357.25 Td (Included in the balances of unrecognized tax benefits at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 344.47 357.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 434.84 357.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 440.59 357.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.59 357.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 485.95 357.25 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 508.95 357.25 Td ( were ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 343.45 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 343.45 Td ($1) Tj ET Q q 0 0 0 rg BT 129.87 343.45 Td (1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 171.72 343.45 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.47 343.45 Td ($10 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 230.83 343.45 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 253.18 343.45 Td ($10 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.53 343.45 Td (, respectively) Tj ET Q q 0 0 0 rg BT 367.09 343.45 Td (, of tax positions that, if recognized, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 329.65 Td (would decrease our ef) Tj ET Q q 0 0 0 rg BT 150.51 329.65 Td (fective tax rate.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 315.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 302.05 Td (As of the balance sheet date, the tax year ended December31, 201) Tj ET Q q 0 0 0 rg BT 390.98 302.05 Td (1 and all subsequent tax years ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 288.25 Td (remain subject to examination by the IRS. ) Tj ET Q q 0 0 0 rg BT 248.91 288.25 Td (W) Tj ET Q q 0 0 0 rg BT 259.30 288.25 Td (ith a few exceptions, we are no longer subject to state income tax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 274.45 Td (examinations by tax authorities for years before 2008.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 260.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 246.85 Td (In January2014, we prospectively adopted guidance requiring unrecognized tax benefits to be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 233.05 Td (presented as a reduction to any available deferred income tax asset for a net operating loss, a similar tax loss, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 219.25 Td (or a tax credit carryforward. ) Tj ET Q q 0 0 0 rg BT 183.92 219.25 Td (As a result of this guidance, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 315.19 219.25 Td ($26 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 368.54 219.25 Td ( of unrecognized tax benefits were ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 205.45 Td (recorded as a reduction to net current deferred income tax assets on the Consolidated Balance Sheets as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 191.65 Td (December 31, 2014. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 164.05 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 164.05 Td (e reflect interest and penalties, if any) Tj ET Q q 0 0 0 rg BT 264.24 164.05 Td (, on unrecognized tax benefits in the Consolidated Statements of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 150.25 Td (Income as income tax expense. ) Tj ET Q q 0 0 0 rg BT 198.42 150.25 Td (The amount of interest recognized in the Consolidated Statements of Income ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 136.45 Td (related to unrecognized tax benefits was a pre-tax expense of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.05 136.45 Td ($1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.65 136.45 Td ( for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 399.81 136.45 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 422.81 136.45 Td (, a pre-tax benefit of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 519.24 136.45 Td ($4 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 122.65 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 122.65 Td ( for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 101.89 122.65 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 124.89 122.65 Td (, and a pre-tax expense of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.90 122.65 Td ($4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 293.50 122.65 Td ( for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.66 122.65 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 335.66 122.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 108.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 95.05 Td (The total amount of accrued liabilities for interest recognized in the Consolidated Balance Sheets ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 81.25 Td (related to unrecognized tax benefits was less than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 280.06 81.25 Td ($1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 327.66 81.25 Td ( as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 355.45 81.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 445.82 81.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.18 81.25 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.55 81.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 67.45 Td (and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 68.98 67.45 Td ($13 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.33 67.45 Td ( as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 150.12 67.45 Td (December31, 2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 240.49 67.45 Td (. ) Tj ET Q q 0 0 0 rg BT 248.91 67.45 Td (T) Tj ET Q q 0 0 0 rg BT 255.13 67.45 Td (o the extent that matters are settled favorably) Tj ET Q q 0 0 0 rg BT 461.62 67.45 Td (, this amount could ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 53.65 Td (reverse and decrease our ef) Tj ET Q q 0 0 0 rg BT 174.44 53.65 Td (fective tax rate. ) Tj ET Q q 0 0 0 rg BT 250.74 53.65 Td (Additionally) Tj ET Q q 0 0 0 rg BT 308.13 53.65 Td (, as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 338.79 53.65 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 429.17 53.65 Td (, we have recognized less ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 203 0 obj <>] /Rotate 0 /Contents 204 0 R>> endobj 204 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (98) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.17 721.05 Td ($1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 119.78 721.05 Td ( of interest expense to be paid on the underpayment of income taxes for certain adjustments that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (we have filed, or will file, with the IRS.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.65 Td (The components of income tax expense are as follows \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 643.15 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 643.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 643.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 643.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 643.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 643.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 613.15 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 613.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 613.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 613.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 613.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 613.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 583.15 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 583.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 583.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 583.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 583.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 583.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 553.15 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 553.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 553.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 553.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 553.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 553.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 523.15 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 523.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 523.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 523.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 523.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 523.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 493.15 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 493.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 493.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 493.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 493.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 493.15 65.00 -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 359 656.15 m 424 656.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 656.15 m 428 656.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 656.15 m 493 656.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 656.15 m 497 656.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 656.15 m 562 656.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 656.15 m 424 656.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 643.15 m 424 643.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 656.15 m 428 656.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 656.15 m 493 656.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 643.15 m 493 643.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 656.15 m 497 656.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 656.15 m 562 656.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 643.15 m 562 643.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 598.15 m 424 598.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 598.15 m 493 598.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 598.15 m 562 598.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 583.15 m 424 583.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 583.15 m 493 583.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 583.15 m 562 583.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 538.15 m 424 538.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 538.15 m 493 538.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 538.15 m 562 538.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 523.15 m 424 523.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 523.15 m 493 523.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 523.15 m 562 523.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 493.15 m 424 493.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 493.15 m 493 493.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 493.15 m 562 493.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 493.15 m 424 493.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 479.15 m 424 479.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 477.15 m 424 477.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 493.15 m 493 493.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 479.15 m 493 479.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 477.15 m 493 477.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 493.15 m 562 493.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 479.15 m 562 479.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 477.15 m 562 477.15 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 658.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.70 660.38 Td (YearEndedDecember31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 645.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 647.38 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 647.38 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 647.38 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 633.72 Td (Current:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 630.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 630.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 630.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 618.72 Td (Federal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 617.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 617.82 Td (25,054) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 617.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 617.87 Td (\(81,784) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 617.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 617.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 617.87 Td (\(3,493) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 617.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 603.72 Td (State) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 602.82 Td (10,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 602.82 Td (10,537) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 602.82 Td (8,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 588.72 Td (Total current) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 587.82 Td (35,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 587.87 Td (\(71,247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 587.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 587.82 Td (4,902) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 573.72 Td (Deferred:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 570.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 570.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 570.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 558.72 Td (Federal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 557.82 Td (167,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 557.82 Td (279,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 557.82 Td (200,322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 543.72 Td (State) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 542.82 Td (17,904) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 542.82 Td (21,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 542.82 Td (28,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 528.72 Td (Total deferred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 527.82 Td (185,269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 527.82 Td (301,838) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 527.82 Td (228,602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 513.72 Td (Total income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 512.82 Td (220,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 512.82 Td (230,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 512.82 Td (233,504) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 498.72 Td (Less: income tax benefit on discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 497.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 497.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 497.87 Td (\(3,813) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 497.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 483.72 Td (Income tax expense continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 482.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 482.82 Td (220,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 482.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 482.82 Td (230,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 482.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 482.82 Td (237,317) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 464.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 451.05 Td (The following chart compares pretax income from continuing operations at the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 451.16 451.05 Td (35%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.24 451.05 Td ( federal income tax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.25 Td (rate to income tax expense continuing operations \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 386.95 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 386.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 386.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 386.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 386.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 386.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 356.95 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 356.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 356.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 356.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 356.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 356.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 316.95 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 316.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 316.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 316.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 316.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 316.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 286.95 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 286.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 286.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 286.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 286.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 286.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 256.95 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 256.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 256.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 256.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 256.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 256.95 65.00 -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 359 399.95000000000005 m 424 399.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 399.95000000000005 m 428 399.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 399.95000000000005 m 493 399.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 399.95000000000005 m 497 399.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 399.95000000000005 m 562 399.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 399.95000000000005 m 424 399.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 386.95000000000005 m 424 386.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 399.95000000000005 m 428 399.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 399.95000000000005 m 493 399.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 386.95000000000005 m 493 386.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 399.95000000000005 m 497 399.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 399.95000000000005 m 562 399.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 386.95000000000005 m 562 386.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 241.95000000000005 m 424 241.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 241.95000000000005 m 493 241.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 241.95000000000005 m 562 241.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 241.95000000000005 m 424 241.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 227.95000000000005 m 424 227.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 225.95000000000005 m 424 225.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 241.95000000000005 m 493 241.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 227.95000000000005 m 493 227.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 225.95000000000005 m 493 225.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 241.95000000000005 m 562 241.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 227.95000000000005 m 562 227.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 225.95000000000005 m 562 225.95000000000005 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 402.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.70 404.18 Td (YearEndedDecember31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 389.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 391.18 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 391.18 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 391.18 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 377.52 Td (Federal income tax expense at 35% statutory rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 376.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 376.62 Td (225,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 376.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 376.62 Td (234,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 376.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 376.62 Td (229,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 362.52 Td (Increases \(reductions\) in tax expense resulting from:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 359.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 359.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 359.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 347.52 Td (State income tax net of federal income tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 346.62 Td (18,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 346.62 Td (21,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 346.62 Td (23,819) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 332.52 Td (Credits and favorable adjustments related to prior years resolved in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 322.52 Td (current year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 321.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 321.67 Td (\(3,356) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 321.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 321.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 307.52 Td (Medicare Subsidy Part-D) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 306.62 Td (830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 306.62 Td (823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 306.62 Td (483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 292.52 Td (Allowance for equity funds used during construction \(see Note 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.30 291.67 Td (\(8,523) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 291.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 291.67 Td (\(6,997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 291.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 291.67 Td (\(6,158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 291.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 277.52 Td (Palo Verde VIE noncontrolling interest \(see Note 18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.30 276.67 Td (\(9,135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 276.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 276.67 Td (\(11,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 276.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 276.67 Td (\(11,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 276.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 262.52 Td (Investment tax credit amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.30 261.67 Td (\(4,928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 261.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 261.67 Td (\(3,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 261.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 261.67 Td (\(2,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 261.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 247.52 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.30 246.67 Td (\(1,228) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 246.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.80 246.67 Td (\(551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 246.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 246.62 Td (2,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 232.52 Td (Income tax expense continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 231.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 231.62 Td (220,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 231.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 231.62 Td (230,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 231.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 231.62 Td (237,317) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 213.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 199.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 199.85 Td (The following table shows the net deferred income tax liability recognized on the Consolidated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 186.05 Td (Balance Sheets \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 149.55 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 149.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 149.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 149.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 119.55 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 119.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 119.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 119.55 65.00 -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 428 162.54999999999995 m 493 162.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 162.54999999999995 m 497 162.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 162.54999999999995 m 562 162.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 162.54999999999995 m 493 162.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 149.54999999999995 m 493 149.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 162.54999999999995 m 497 162.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 162.54999999999995 m 562 162.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 149.54999999999995 m 562 149.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 149.54999999999995 m 493 149.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 149.54999999999995 m 562 149.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 119.54999999999995 m 493 119.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 119.54999999999995 m 562 119.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 119.54999999999995 m 493 119.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 105.54999999999995 m 493 105.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 103.54999999999995 m 493 103.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 119.54999999999995 m 562 119.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 105.54999999999995 m 562 105.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 103.54999999999995 m 562 103.54999999999995 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 165.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.25 166.78 Td (December31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 152.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 153.78 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 153.78 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 140.12 Td (Current asset) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 139.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 139.22 Td (122,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 139.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 139.22 Td (91,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 125.12 Td (Long-term liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 124.27 Td (\(2,582,636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 124.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 124.27 Td (\(2,351,882) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 124.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 110.12 Td (Deferred income taxes net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 109.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 109.27 Td (\(2,460,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 109.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 109.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 109.27 Td (\(2,260,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 109.22 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 91.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 77.45 Td (On February17, 201) Tj ET Q q 0 0 0 rg BT 180.89 77.45 Td (1, ) Tj ET Q q 0 0 0 rg BT 191.76 77.45 Td (Arizona enacted legislation \(H.B. 2001\) that included a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 449.16 77.45 Td (four) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.08 77.45 Td (-year phase-in of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.65 Td (corporate income tax rate reductions beginning in 2014. ) Tj ET Q q 0 0 0 rg BT 312.01 63.65 Td (As a result of these tax rate reductions, Pinnacle ) Tj ET Q q 0 0 0 rg BT 535.99 63.65 Td (W) Tj ET Q q 0 0 0 rg BT 545.92 63.65 Td (est ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.85 Td (has revised the tax rate applicable to reversing temporary items in ) Tj ET Q q 0 0 0 rg BT 354.47 49.85 Td (Arizona. In accordance with accounting for ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 205 0 obj <>] /Rotate 0 /Contents 206 0 R>> endobj 206 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (99) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (regulated companies, the benefit of this rate reduction is substantially of) Tj ET Q q 0 0 0 rg BT 381.11 721.05 Td (fset by a regulatory liability) Tj ET Q q 0 0 0 rg BT 508.10 721.05 Td (. ) Tj ET Q q 0 0 0 rg BT 516.09 721.05 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.87 707.25 Td (, ) Tj ET Q q 0 0 0 rg BT 144.99 707.25 Td (APS has recorded a regulatory liability of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 339.48 707.25 Td ($74 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 392.83 707.25 Td (, with a corresponding decrease in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (accumulated deferred income tax liabilities, to reflect the impact of this change in tax law) Tj ET Q q 0 0 0 rg BT 461.00 693.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.85 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 665.85 Td (April4, 2013, New Mexico enacted legislation \(H.B. 641\) that included a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.52 665.85 Td (five) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 461.40 665.85 Td (-year phase-in of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (corporate income tax rate reductions beginning in 2014. ) Tj ET Q q 0 0 0 rg BT 312.01 652.05 Td (As a result of these tax rate reductions, Pinnacle ) Tj ET Q q 0 0 0 rg BT 535.99 652.05 Td (W) Tj ET Q q 0 0 0 rg BT 545.92 652.05 Td (est ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (has revised the tax rate applicable to reversing temporary items in New Mexico. In accordance with accounting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (for regulated companies, the benefit of this rate reduction is substantially of) Tj ET Q q 0 0 0 rg BT 397.39 624.45 Td (fset by a regulatory liability) Tj ET Q q 0 0 0 rg BT 524.39 624.45 Td (. ) Tj ET Q q 0 0 0 rg BT 532.38 624.45 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.87 610.65 Td (, ) Tj ET Q q 0 0 0 rg BT 144.99 610.65 Td (APS has recorded a regulatory liability of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 339.48 610.65 Td ($2 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.08 610.65 Td (, with a corresponding decrease in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (accumulated deferred income tax liabilities, to reflect the impact of this change in tax law) Tj ET Q q 0 0 0 rg BT 461.00 596.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 583.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 569.25 Td (The components of the net deferred income tax liability were as follows \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 518.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 518.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 518.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 518.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 488.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 488.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 488.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 488.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 458.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 458.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 458.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 458.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 428.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 428.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 428.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 428.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 398.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 398.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 398.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 398.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 368.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 368.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 368.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 368.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 338.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 338.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 338.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 338.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 308.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 308.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 308.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 308.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 278.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 248.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 248.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 248.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 248.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 218.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 218.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 218.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 218.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 188.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 188.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 188.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 188.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 158.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 158.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 158.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 158.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 128.95 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 128.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 128.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 128.95 65.00 -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 428 531.95 m 493 531.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 531.95 m 497 531.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 531.95 m 562 531.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 531.95 m 493 531.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 518.95 m 493 518.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 531.95 m 497 531.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 531.95 m 562 531.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 518.95 m 562 518.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 338.95000000000005 m 493 338.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 338.95000000000005 m 562 338.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 323.95000000000005 m 493 323.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 323.95000000000005 m 562 323.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 143.95000000000005 m 493 143.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 143.95000000000005 m 562 143.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 128.95000000000005 m 493 128.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 128.95000000000005 m 562 128.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 128.95000000000005 m 493 128.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 114.95000000000005 m 493 114.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 112.95000000000005 m 493 112.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 128.95000000000005 m 562 128.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 114.95000000000005 m 562 114.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 112.95000000000005 m 562 112.95000000000005 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 534.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.25 536.18 Td (December31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 521.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 523.18 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 523.18 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 509.52 Td (DEFERRED TAX ASSETS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 506.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 506.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 494.52 Td (Risk management activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 493.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 493.62 Td (57,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 493.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 493.62 Td (44,920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 479.52 Td (Regulatory liabilities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 476.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 476.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 464.52 Td (Asset retirement obligation and removal costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 463.62 Td (229,772) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 463.62 Td (235,959) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 449.52 Td (Unamortized investment tax credits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 448.62 Td (96,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 448.62 Td (82,116) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 434.52 Td (Other postretirement benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 433.62 Td (90,496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 433.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 419.52 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 418.62 Td (60,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 418.62 Td (42,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 404.52 Td (Pension liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 403.62 Td (205,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 403.62 Td (140,773) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 389.52 Td (Other postretirement liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 388.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 388.62 Td (57,869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 374.52 Td (Renewable energy incentives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 373.62 Td (65,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 373.62 Td (65,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 359.52 Td (Credit and loss carryforwards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 358.62 Td (68,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 358.62 Td (133,070) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 344.52 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 343.62 Td (138,729) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 343.62 Td (148,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 329.52 Td (Total deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 328.62 Td (1,011,886) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 328.62 Td (951,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 314.52 Td (DEFERRED TAX LIABILITIES) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 311.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 311.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 299.52 Td (Plant-related) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 298.67 Td (\(2,958,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 298.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 298.67 Td (\(2,903,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 298.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 284.52 Td (Risk management activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 283.67 Td (\(12,171) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 283.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 283.67 Td (\(16,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 283.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 269.52 Td (Other postretirement assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 268.67 Td (\(59,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 268.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 268.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 254.52 Td (Regulatory assets:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 251.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 251.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 239.52 Td (Allowance for equity funds used during construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 238.67 Td (\(48,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 238.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 238.67 Td (\(43,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 238.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 224.52 Td (Deferred fuel and purchased power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 223.67 Td (\(2,498) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 223.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 223.67 Td (\(8,282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 223.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 209.52 Td (Deferred fuel and purchased power mark-to-market) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 208.67 Td (\(38,187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 208.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 208.67 Td (\(13,343) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 208.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 194.52 Td (Pension and other postretirement benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 193.67 Td (\(191,747) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 193.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 193.67 Td (\(129,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 193.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 179.52 Td (Retired power plant costs \(see Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 178.67 Td (\(57,255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 178.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 178.67 Td (\(8,199) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 178.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 164.52 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 163.67 Td (\(99,123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 163.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 163.67 Td (\(85,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 163.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 149.52 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 148.67 Td (\(5,484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 148.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 148.67 Td (\(4,916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 148.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 134.52 Td (Total deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 133.67 Td (\(3,472,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 133.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 133.67 Td (\(3,211,972) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 133.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 119.52 Td (Deferred income taxes net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 118.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 118.67 Td (\(2,460,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 118.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 118.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 118.67 Td (\(2,260,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 118.62 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 86.85 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.61 86.85 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 203.98 86.85 Td (, the deferred tax assets for credit and loss carryforwards relate primarily to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 73.05 Td (federal general business credits of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 278.14 73.05 Td ($90 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 331.49 73.05 Td (, which first begin to expire in 2031, and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 59.25 Td (federal and state loss carryforwards of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 228.32 59.25 Td ($4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 275.92 59.25 Td (, which first begin to expire in 2019. ) Tj ET Q q 0 0 0 rg BT 449.14 59.25 Td (The credit and loss ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 207 0 obj <>] /Rotate 0 /Contents 208 0 R>> endobj 208 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (100) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (carryforwards amount above has been reduced by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 281.00 721.05 Td ($26) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 298.25 721.05 Td ( million of unrecognized tax benefits as a result of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (guidance adopted in January 2014, as disclosed above.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (5.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 679.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.88 679.65 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 88.75 679.65 Td (Lines of Cr) Tj ET Q q 0 0 0 rg BT 144.12 679.65 Td (edit and Short-T) Tj ET Q q 0 0 0 rg BT 224.86 679.65 Td (erm Borr) Tj ET Q q 0 0 0 rg BT 270.95 679.65 Td (owings) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 652.05 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 652.05 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 652.05 Td (est and ) Tj ET Q q 0 0 0 rg BT 172.20 652.05 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 49.50 638.25 Td (provide credit support for their commercial paper programs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.65 Td (The table below presents the consolidated credit facilities and the amounts available and outstanding as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 61.95 596.85 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 152.33 596.85 Td ( \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 551.55 253.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 551.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 551.55 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 551.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 551.55 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 551.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 551.55 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 551.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 551.55 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 521.55 253.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 521.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 521.55 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 521.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 521.55 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 521.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 521.55 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 521.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 521.55 56.00 -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 50 551.55 m 303 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 551.55 m 385 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 551.55 m 444 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 551.55 m 503 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 551.55 m 563 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 551.55 m 385 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 551.55 m 444 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 551.55 m 503 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 551.55 m 563 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 506.55 m 444 506.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 506.55 m 503 506.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 506.55 m 444 506.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 492.55 m 444 492.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 490.55 m 444 490.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 506.55 m 503 506.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 492.55 m 503 492.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 490.55 m 503 490.55 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 555.78 Td (CreditFacility) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.05 555.78 Td (Expiration) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.95 563.78 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.65 555.78 Td (Committed) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.10 563.78 Td (Unused) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.30 555.78 Td (Amount\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.80 563.78 Td (Commitment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.90 555.78 Td (Fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 542.12 Td (Pinnacle West Revolving Credit Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.05 541.22 Td (May 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 541.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 541.22 Td (200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 541.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 541.22 Td (200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 541.22 Td (0.175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 541.22 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 527.12 Td (APS Revolving Credit Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.05 526.22 Td (May 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 526.22 Td (500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 526.22 Td (500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 526.22 Td (0.125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 526.22 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 512.12 Td (APS Revolving Credit Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 511.22 Td (April2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 511.22 Td (500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 511.22 Td (353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 511.22 Td (0.125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 511.22 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 497.12 Td (Total) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 345.50 494.31 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 496.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.65 496.22 Td (1,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 496.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 496.22 Td (1,053) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 494.31 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 458.45 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 458.45 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 117.88 458.45 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 208.25 458.45 Td (, ) Tj ET Q q 0 0 0 rg BT 213.36 458.45 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.82 458.45 Td ($147 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 315.92 458.45 Td ( of outstanding commercial paper) Tj ET Q q 0 0 0 rg BT 469.85 458.45 Td (. ) Tj ET Q q 0 0 0 rg BT 477.84 458.45 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 534.57 458.45 Td (, at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 444.65 Td (such date, the total combined amount available under its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 365.37 444.65 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 382.62 444.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 385.50 444.65 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 444.60 444.65 Td ( credit facilities was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 430.85 Td ($853 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 162.60 430.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 417.05 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 403.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 130.33 403.25 Td (W) Tj ET Q q 0 0 0 rg BT 139.71 403.25 Td (est) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 389.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 375.65 Td (On May9, 2014, Pinnacle ) Tj ET Q q 0 0 0 rg BT 208.90 375.65 Td (W) Tj ET Q q 0 0 0 rg BT 218.84 375.65 Td (est replaced its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 290.05 375.65 Td ($200 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 349.15 375.65 Td ( revolving credit facility that would have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.85 Td (matured in November2016, with a new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 235.37 361.85 Td ($200 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.48 361.85 Td ( facility that matures in May2019. ) Tj ET Q q 0 0 0 rg BT 458.96 361.85 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.34 361.85 Td (December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.05 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 348.05 Td (, the facility was available to refinance indebtedness of the Company and for other general corporate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.25 Td (purposes, including credit support for its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.91 334.25 Td ($200 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 298.01 334.25 Td ( commercial paper program. Pinnacle ) Tj ET Q q 0 0 0 rg BT 476.30 334.25 Td (W) Tj ET Q q 0 0 0 rg BT 486.23 334.25 Td (est has the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.45 Td (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 349.39 320.45 Td ($300 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.49 320.45 Td ( upon the satisfaction of certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.65 Td (conditions and with the consent of the lenders. ) Tj ET Q q 0 0 0 rg BT 268.60 306.65 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 282.98 306.65 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.35 306.65 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 421.37 306.65 Td (W) Tj ET Q q 0 0 0 rg BT 431.30 306.65 Td (est had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 466.43 306.65 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.93 306.65 Td ( outstanding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.85 Td (borrowings under its credit facility) Tj ET Q q 0 0 0 rg BT 208.44 292.85 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.19 292.85 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 225.69 292.85 Td ( letters of credit outstanding and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 377.07 292.85 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 388.57 292.85 Td ( commercial paper borrowings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 279.05 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 265.25 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 251.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 237.65 Td (On May 9, 2014, ) Tj ET Q q 0 0 0 rg BT 166.00 237.65 Td (APS refinanced its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 255.11 237.65 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 314.21 237.65 Td ( revolving credit facility that would have matured in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.85 Td (November 2016, with a new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 183.00 223.85 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 242.10 223.85 Td ( facility that matures in May 2019.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 210.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 196.25 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.88 196.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.25 196.25 Td (, ) Tj ET Q q 0 0 0 rg BT 195.36 196.25 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.82 196.25 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.07 196.25 Td ( credit facilities totaling ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 368.48 196.25 Td ($1 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 412.88 196.25 Td (, including a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.93 196.25 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.03 196.25 Td ( credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.45 Td (facility that matures in ) Tj ET Q q 0 0 0 rg BT 155.53 182.45 Td (April 2018 and a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 236.02 182.45 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 295.12 182.45 Td ( credit facility that matures in May 2019 \(see above\). ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.65 Td () Tj ET Q q 0 0 0 rg BT 51.74 168.65 Td (APS may 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 361.20 168.65 Td ($700 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.31 168.65 Td ( upon the satisfaction of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 154.85 Td (certain conditions and with the consent of the lenders. ) Tj ET Q q 0 0 0 rg BT 302.76 154.85 Td (APS will use these facilities to refinance indebtedness ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.05 Td (and for other general corporate purposes. Interest rates are based on ) Tj ET Q q 0 0 0 rg BT 365.94 141.05 Td (APS) Tj ET Q q 0 0 0 rg BT 390.23 141.05 Td (s senior unsecured debt credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.25 Td (ratings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 113.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 99.65 Td (The facilities described above are available to support ) Tj ET Q q 0 0 0 rg BT 335.85 99.65 Td (APS) Tj ET Q q 0 0 0 rg BT 360.14 99.65 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 367.49 99.65 Td ($250 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 426.60 99.65 Td ( commercial paper program, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.85 Td (for bank borrowings or for issuances of letters of credit. ) Tj ET Q q 0 0 0 rg BT 311.38 85.85 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.75 85.85 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 416.13 85.85 Td (, ) Tj ET Q q 0 0 0 rg BT 421.24 85.85 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.69 85.85 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 476.19 85.85 Td ( outstanding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.05 Td (borrowings or letters of credit under its revolving credit facilities. In addition, ) Tj ET Q q 0 0 0 rg BT 411.98 72.05 Td (APS had commercial paper ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.25 Td (borrowings of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 117.21 58.25 Td ($147 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 176.32 58.25 Td ( at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.37 58.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 280.74 58.25 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 209 0 obj <>] /Rotate 0 /Contents 210 0 R>> endobj 210 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (101) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.25 Td (The table below presents the consolidated credit facilities and the amounts available and outstanding as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 61.95 693.45 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 152.33 693.45 Td ( \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 649.15 253.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 649.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 649.15 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 649.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 649.15 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 649.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 649.15 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 649.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 649.15 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 621.15 253.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 621.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 621.15 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 621.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 621.15 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 621.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 621.15 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 621.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 621.15 56.00 -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 50 649.15 m 303 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 649.15 m 385 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 649.15 m 444 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 649.15 m 503 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 649.15 m 563 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 649.15 m 385 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 649.15 m 444 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 649.15 m 503 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 649.15 m 563 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 607.15 m 444 607.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 607.15 m 503 607.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 607.15 m 444 607.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 594.15 m 444 594.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 592.15 m 444 592.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 607.15 m 503 607.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 594.15 m 503 594.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 592.15 m 503 592.15 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 653.38 Td (CreditFacility) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.05 653.38 Td (Expiration) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.95 661.23 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.65 653.23 Td (Committed) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.10 661.23 Td (Unused) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.30 653.23 Td (Amount\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.80 661.23 Td (Commitment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.90 653.23 Td (Fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 639.72 Td (Pinnacle West Revolving Credit Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.10 639.72 Td (November2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 639.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 639.72 Td (200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 639.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 639.72 Td (200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 639.72 Td (0.175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 639.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 625.72 Td (APS Revolving Credit Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.10 625.72 Td (November2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 625.72 Td (500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 625.72 Td (347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 625.72 Td (0.125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 625.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 611.72 Td (APS Revolving Credit Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 611.72 Td (April 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 611.72 Td (500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 611.72 Td (500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 611.72 Td (0.125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 611.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 597.72 Td (Total) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 345.50 595.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 597.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.65 597.72 Td (1,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 597.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 597.72 Td (1,047) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 595.91 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 560.05 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 103.50 560.05 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 117.88 560.05 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 208.25 560.05 Td (, ) Tj ET Q q 0 0 0 rg BT 213.36 560.05 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.82 560.05 Td ($153 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 315.92 560.05 Td ( of outstanding commercial paper) Tj ET Q q 0 0 0 rg BT 469.85 560.05 Td (. ) Tj ET Q q 0 0 0 rg BT 477.84 560.05 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 534.57 560.05 Td (, at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 546.25 Td (such date the total combined amount available under its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 546.25 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 379.75 546.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 382.62 546.25 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.73 546.25 Td ( credit facilities was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 536.89 546.25 Td ($847 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 532.45 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 136.73 532.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 518.65 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 504.85 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 130.33 504.85 Td (W) Tj ET Q q 0 0 0 rg BT 139.71 504.85 Td (est) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 491.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 477.25 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.88 477.25 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.25 477.25 Td (, the Pinnacle ) Tj ET Q q 0 0 0 rg BT 255.19 477.25 Td (W) Tj ET Q q 0 0 0 rg BT 265.12 477.25 Td (est credit facility) Tj ET Q q 0 0 0 rg BT 341.65 477.25 Td (, which matures in November2016, was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.45 Td (available to refinance indebtedness of the Company and for other general corporate purposes, including credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.65 Td (support for its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 116.90 449.65 Td ($200 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 176.00 449.65 Td ( commercial paper program. Pinnacle ) Tj ET Q q 0 0 0 rg BT 354.30 449.65 Td (W) Tj ET Q q 0 0 0 rg BT 364.23 449.65 Td (est has the option to increase the amount ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 435.85 Td (of the facility up to a maximum of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 210.46 435.85 Td ($300 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 269.57 435.85 Td ( upon the satisfaction of certain conditions and with the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.05 Td (consent of the lenders. ) Tj ET Q q 0 0 0 rg BT 158.08 422.05 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 172.46 422.05 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 262.83 422.05 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 310.85 422.05 Td (W) Tj ET Q q 0 0 0 rg BT 320.78 422.05 Td (est had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 355.91 422.05 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 367.41 422.05 Td ( outstanding borrowings under its credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.25 Td (facility) Tj ET Q q 0 0 0 rg BT 81.32 408.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 87.07 408.25 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 98.57 408.25 Td ( letters of credit and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 193.41 408.25 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 204.91 408.25 Td ( commercial paper borrowings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 394.45 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 380.65 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 366.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 353.05 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 353.05 Td (April9, 2013, ) Tj ET Q q 0 0 0 rg BT 168.56 353.05 Td (APS refinanced its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 257.67 353.05 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 316.77 353.05 Td ( revolving credit facility that would have matured in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.25 Td (February2015, with a new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 175.97 339.25 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 235.08 339.25 Td ( facility) Tj ET Q q 0 0 0 rg BT 269.77 339.25 Td (. ) Tj ET Q q 0 0 0 rg BT 278.19 339.25 Td (The new revolving credit facility matures in ) Tj ET Q q 0 0 0 rg BT 482.90 339.25 Td (April2018.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 311.65 Td (At December31, 2013, ) Tj ET Q q 0 0 0 rg BT 195.36 311.65 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.82 311.65 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.07 311.65 Td ( credit facilities totaling ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 368.48 311.65 Td ($1 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 412.88 311.65 Td (, including a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.93 311.65 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.03 311.65 Td ( credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 297.85 Td (facility that was refinanced in ) Tj ET Q q 0 0 0 rg BT 188.41 297.85 Td (April 2013 \(see above\) and a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 324.45 297.85 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 383.55 297.85 Td ( credit facility that matures in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.05 Td (November 2016. ) Tj ET Q q 0 0 0 rg BT 131.90 284.05 Td (APS may 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 441.37 284.05 Td ($700 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.47 284.05 Td ( upon the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.25 Td (satisfaction of certain conditions and with the consent of the lenders. ) Tj ET Q q 0 0 0 rg BT 370.46 270.25 Td (APS can use these facilities to refinance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.45 Td (indebtedness and for other general corporate purposes. Interest rates are based on ) Tj ET Q q 0 0 0 rg BT 428.22 256.45 Td (APS) Tj ET Q q 0 0 0 rg BT 452.52 256.45 Td (s senior unsecured debt ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.65 Td (credit ratings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 215.05 Td (The facilities described above are available to support ) Tj ET Q q 0 0 0 rg BT 335.85 215.05 Td (APS) Tj ET Q q 0 0 0 rg BT 360.14 215.05 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 367.49 215.05 Td ($250 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 426.60 215.05 Td ( commercial paper program, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.25 Td (for bank borrowings or for issuances of letters of credit. ) Tj ET Q q 0 0 0 rg BT 311.38 201.25 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.75 201.25 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 416.13 201.25 Td (, ) Tj ET Q q 0 0 0 rg BT 421.24 201.25 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.69 201.25 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 476.19 201.25 Td ( outstanding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.45 Td (borrowings or letters of credit under its revolving credit facilities. In addition, ) Tj ET Q q 0 0 0 rg BT 411.98 187.45 Td (APS had commercial paper ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.65 Td (borrowings of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 117.21 173.65 Td ($153 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 176.32 173.65 Td ( at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.37 173.65 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 280.74 173.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 159.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 146.05 Td (See Financial ) Tj ET Q q 0 0 0 rg BT 155.12 146.05 Td (Assurances in Note 10 for a discussion of ) Tj ET Q q 0 0 0 rg BT 353.78 146.05 Td (APS) Tj ET Q q 0 0 0 rg BT 378.07 146.05 Td (s separate outstanding letters of credit.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 132.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 118.45 Td (Debt Pr) Tj ET Q q 0 0 0 rg BT 87.93 118.45 Td (ovisions) 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 85.50 90.85 Td (Although provisions in ) Tj ET Q q 0 0 0 rg BT 193.80 90.85 Td (APS) Tj ET Q q 0 0 0 rg BT 218.10 90.85 Td (s articles of incorporation and ) Tj ET Q q 0 0 0 rg BT 357.65 90.85 Td (ACC financing orders establish maximum ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.05 Td (amounts of preferred stock and debt that ) Tj ET Q q 0 0 0 rg BT 237.60 77.05 Td (APS may issue, ) Tj ET Q q 0 0 0 rg BT 312.36 77.05 Td (APS does not expect any of these provisions to limit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.25 Td (its ability to meet its capital requirements. On February6, 2013, the ) Tj ET Q q 0 0 0 rg BT 366.33 63.25 Td (ACC issued a financing order in which, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.45 Td (subject to specified parameters and procedures, it \(a\)approved ) Tj ET Q q 0 0 0 rg BT 340.08 49.45 Td (APS) Tj ET Q q 0 0 0 rg BT 364.38 49.45 Td (s short-term debt authorization equal to a ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 211 0 obj <>] /Rotate 0 /Contents 212 0 R>> endobj 212 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (102) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (sum of \(i\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 97.73 721.05 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.06 721.05 Td ( of ) Tj ET Q q 0 0 0 rg BT 127.75 721.05 Td (APS) Tj ET Q q 0 0 0 rg BT 152.05 721.05 Td (s capitalization, and \(ii\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 263.50 721.05 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 322.60 721.05 Td ( \(which is required to be used for costs relating to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (purchases of natural gas and power\), \(b\)approved an increase in ) Tj ET Q q 0 0 0 rg BT 348.39 707.25 Td (APS) Tj ET Q q 0 0 0 rg BT 372.68 707.25 Td (s long-term debt authorization from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 539.71 707.25 Td ($4.2 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 79.53 693.45 Td ( to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 94.23 693.45 Td ($5.1 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 147.26 693.45 Td ( in light of the projected growth of ) Tj ET Q q 0 0 0 rg BT 308.23 693.45 Td (APS and its customer base and the resulting projected ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (financing needs, and \(c\)authorized ) Tj ET Q q 0 0 0 rg BT 213.63 679.65 Td (APS to enter into derivative financial instruments for the purpose of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (managing interest rate risk associated with its long- and short-term debt. ) Tj ET Q q 0 0 0 rg BT 387.51 665.85 Td (This financing order is set to expire ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (on December31, 2017.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 638.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (6.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 624.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.88 624.45 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 88.75 624.45 Td (Long-T) Tj ET Q q 0 0 0 rg BT 124.76 624.45 Td (erm Debt and Liquidity Matters) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 596.85 Td (All of Pinnacle ) Tj ET Q q 0 0 0 rg BT 157.79 596.85 Td (W) Tj ET Q q 0 0 0 rg BT 167.73 596.85 Td (est) Tj ET Q q 0 0 0 rg BT 183.70 596.85 Td (s and ) Tj ET Q q 0 0 0 rg BT 209.89 596.85 Td (APS) Tj ET Q q 0 0 0 rg BT 234.19 596.85 Td (s debt is unsecured. ) Tj ET Q q 0 0 0 rg BT 329.79 596.85 Td (The following table presents the components of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (long-term debt on the Consolidated Balance Sheets outstanding at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 355.79 583.05 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 446.16 583.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.52 583.05 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 491.52 583.05 Td ( \(dollars in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 532.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 532.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 532.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 532.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 532.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 532.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 532.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 532.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 503.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 503.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 503.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 503.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 503.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 503.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 503.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 503.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 473.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 473.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 473.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 473.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 473.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 473.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 473.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 473.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 443.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 443.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 443.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 443.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 443.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 443.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 443.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 443.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 413.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 413.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 413.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 413.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 413.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 413.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 413.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 413.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 383.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 383.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 383.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 383.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 383.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 383.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 383.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 383.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 353.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 353.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 353.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 353.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 353.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 353.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 353.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 353.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 324.75 240.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 324.75 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 324.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 324.75 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 324.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 324.75 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 324.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 324.75 65.00 -24.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 545.75 m 493 545.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 545.75 m 497 545.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 545.75 m 562 545.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 532.75 m 355 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 532.75 m 424 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 545.75 m 493 545.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 532.75 m 493 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 545.75 m 497 545.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 545.75 m 562 545.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 532.75 m 562 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 473.75 m 493 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 473.75 m 562 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 398.75 m 493 398.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 398.75 m 562 398.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 368.75 m 493 368.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 368.75 m 562 368.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 324.75 m 493 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 324.75 m 562 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 324.75 m 493 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 301.75 m 493 301.75 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 497 324.75 m 562 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 301.75 m 562 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 299.75 m 562 299.75 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 548.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.40 549.98 Td (Maturity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.70 549.98 Td (Interest) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.25 549.98 Td (December31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 535.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.75 536.98 Td (Dates\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.40 536.98 Td (Rates) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 536.98 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 536.98 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 523.48 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 322.00 521.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 391.00 521.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 521.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 521.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 509.32 Td (Pollution Control Bonds:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 322.00 506.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 391.00 506.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 506.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 506.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 494.32 Td (Variable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.30 493.42 Td (2029-2038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 493.42 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 493.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 493.42 Td (156,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 493.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 493.42 Td (75,580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 479.32 Td (Fixed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.30 478.42 Td (2024-2034) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.50 478.42 Td (0.45%-5.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 478.42 Td (249,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 478.42 Td (426,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 464.32 Td (Total Pollution Control Bonds) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 322.00 461.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 391.00 461.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 463.42 Td (405,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 463.42 Td (501,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 449.32 Td (Senior unsecured notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.30 448.42 Td (2015-2044) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.50 448.42 Td (3.35%-8.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 448.42 Td (2,875,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 448.42 Td (2,675,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 434.32 Td (Palo Verde sale leaseback lessor notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.00 433.42 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.05 433.42 Td (8.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 433.42 Td (13,420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 433.42 Td (38,869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 419.32 Td (Unamortized discount) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 322.00 416.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 391.00 416.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 418.47 Td (\(9,206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 418.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 418.47 Td (\(8,732) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 418.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 404.32 Td (Unamortized premium) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 322.00 401.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 391.00 401.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 403.42 Td (4,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 403.42 Td (5,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 389.32 Td (Total APS long-term debt) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 322.00 386.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 391.00 386.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 388.42 Td (3,289,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 388.42 Td (3,211,889) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 374.32 Td (Less current maturities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.15 373.42 Td (\(d\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 391.00 371.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 373.42 Td (383,570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 373.42 Td (540,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 359.32 Td (Total APS long-term debt less current maturities) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 322.00 356.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 391.00 356.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 358.42 Td (2,906,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 358.42 Td (2,671,465) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 344.48 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 322.00 342.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 391.00 342.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 342.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 342.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 330.32 Td (Term loan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.00 329.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.45 329.42 Td (\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 329.42 Td (125,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 329.42 Td (125,000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 315.43 Td (T) Tj ET Q q 0 0 0 rg BT 58.99 315.43 Td (OT) Tj ET Q q 0 0 0 rg BT 72.70 315.43 Td (AL) Tj ET Q q 0 0 0 rg BT 86.04 315.43 Td ( LONG-TERM DEBT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.04 315.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.54 315.43 Td (LESS CURRENT) Tj ET Q q 0 0 0 rg BT 259.78 315.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 305.43 Td (MA) Tj ET Q q 0 0 0 rg BT 68.42 305.43 Td (TURITIES) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 322.00 303.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 391.00 303.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 305.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 305.42 Td (3,031,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 305.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 305.42 Td (2,796,465) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 267.65 Td (\(a\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.26 267.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.26 267.65 Td ( ) Tj ET Q q 0 0 0 rg BT 124.93 267.65 Td (This schedule does not reflect the timing of redemptions that may occur prior to maturities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 253.85 Td (\(b\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.91 253.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.91 253.85 Td ( ) Tj ET Q q 0 0 0 rg BT 125.58 253.85 Td (The weighted-average rate for the variable rate pollution control bonds was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 475.24 253.85 Td (0.03%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 504.94 253.85 Td (-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 508.77 253.85 Td (0.27%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 538.48 253.85 Td ( at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 126.00 240.05 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 216.37 240.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.73 240.05 Td (0.03%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 268.43 240.05 Td (-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 272.26 240.05 Td (0.06%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 301.97 240.05 Td ( at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 316.02 240.05 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.39 240.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 226.25 Td (\(c\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.26 226.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 123.01 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 125.68 226.25 Td (The weighted-average interest rate was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 308.64 226.25 Td (1.019%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 344.09 226.25 Td ( at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 358.14 226.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 448.51 226.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 470.87 226.25 Td (1.269%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 506.32 226.25 Td ( at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 126.00 212.45 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 216.37 212.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 198.65 Td (\(d\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.91 198.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.91 198.65 Td ( Current maturities include ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 249.38 198.65 Td ($70 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 302.73 198.65 Td ( of pollution control bonds expected to be remarketed in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 126.00 184.85 Td (2015 and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 171.35 184.85 Td ($300 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 230.46 184.85 Td ( in senior unsecured notes that mature in 2015.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 157.25 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 213 0 obj <>] /Rotate 0 /Contents 214 0 R>> endobj 214 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (103) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (The following table shows principal payments due on Pinnacle ) Tj ET Q q 0 0 0 rg BT 377.53 721.05 Td (W) Tj ET Q q 0 0 0 rg BT 387.46 721.05 Td (est) Tj ET Q q 0 0 0 rg BT 403.43 721.05 Td (s and ) Tj ET Q q 0 0 0 rg BT 429.63 721.05 Td (APS) Tj ET Q q 0 0 0 rg BT 453.92 721.05 Td (s total long-term debt ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (\(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 676.75 388.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 676.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 676.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 676.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 676.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 648.75 388.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 648.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 648.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 648.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 648.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 620.75 388.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 620.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 620.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 620.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 620.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 592.75 388.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 592.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 592.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 592.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 592.75 58.00 -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 50 676.75 m 438 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 676.75 m 500 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 676.75 m 562 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 676.75 m 438 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 676.75 m 500 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 676.75 m 562 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 592.75 m 500 592.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 592.75 m 562 592.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 592.75 m 500 592.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 579.75 m 500 579.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 577.75 m 500 577.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 592.75 m 562 592.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 579.75 m 562 579.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 577.75 m 562 577.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 680.98 Td (Year) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.05 688.83 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.45 680.83 Td (Pinnacle) Tj ET Q q 0 0 0 rg BT 477.64 680.83 Td (W) Tj ET Q q 0 0 0 rg BT 485.20 680.83 Td (est) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.05 688.83 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.90 680.83 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 667.32 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.50 667.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 667.32 Td (384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.50 667.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 667.32 Td (384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 653.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 653.32 Td (357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 653.32 Td (357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 639.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 639.32 Td (157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 639.32 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 625.32 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 625.32 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 625.32 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 611.32 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 611.32 Td (500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 611.32 Td (500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 597.32 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 597.32 Td (1,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 597.32 Td (1,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 583.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.50 583.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 583.32 Td (3,419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.50 583.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 583.32 Td (3,294) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 565.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 551.65 Td (Debt Fair) Tj ET Q q 0 0 0 rg BT 96.88 551.65 Td ( ) Tj ET Q q 0 0 0 rg BT 99.54 551.65 Td (V) Tj ET Q q 0 0 0 rg BT 106.79 551.65 Td (alue) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 537.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 524.05 Td (Our long-term debt fair value estimates are based on quoted market prices for the same or similar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 510.25 Td (issues, and are classified within Level 2 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 354.03 510.25 Td (. Certain of our debt instruments contain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 496.45 Td (third-party credit enhancements and, in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 340.74 496.45 Td (, we do not consider the ef) Tj ET Q q 0 0 0 rg BT 462.20 496.45 Td (fect of these credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 482.65 Td (enhancements when determining fair value. ) Tj ET Q q 0 0 0 rg BT 255.90 482.65 Td (The following table represents the estimated fair value of our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 468.85 Td (long-term debt, including current maturities \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 455.05 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 404.55 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 404.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 404.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 404.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 404.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 404.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 404.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 404.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 376.55 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 376.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 376.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 376.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 376.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 376.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 376.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 376.55 65.00 -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 290 424.55 m 355 424.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 424.55 m 359 424.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 424.55 m 424 424.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 424.55 m 493 424.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 424.55 m 497 424.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 424.55 m 562 424.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 404.55 m 355 404.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 424.55 m 424 424.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 404.55 m 424 404.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 404.55 m 493 404.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 424.55 m 562 424.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 404.55 m 562 404.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 376.55 m 355 376.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 376.55 m 424 376.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 376.55 m 493 376.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 376.55 m 562 376.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 376.55 m 355 376.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 363.55 m 355 363.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 361.55 m 355 361.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 376.55 m 424 376.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 363.55 m 424 363.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 361.55 m 424 361.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 376.55 m 493 376.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 363.55 m 493 363.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 361.55 m 493 361.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 376.55 m 562 376.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 363.55 m 562 363.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 361.55 m 562 361.55 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 427.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.70 436.63 Td (As of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.25 428.63 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.70 436.63 Td (As of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.25 428.63 Td (December 31, 2013) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 407.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.20 416.63 Td (Carrying) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.95 408.63 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.15 408.78 Td (FairValue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.20 416.63 Td (Carrying) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.95 408.63 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.15 408.78 Td (FairValue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 395.12 Td (Pinnacle West) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 395.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 395.12 Td (125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 395.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 395.12 Td (125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 395.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 395.12 Td (125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 395.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 395.12 Td (125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 381.12 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 381.12 Td (3,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 381.12 Td (3,714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 381.12 Td (3,212) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 381.12 Td (3,454) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 367.12 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 367.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 367.12 Td (3,415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 367.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 367.12 Td (3,839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 367.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 367.12 Td (3,337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 367.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 367.12 Td (3,579) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 349.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 335.45 Td (Cr) Tj ET Q q 0 0 0 rg BT 62.70 335.45 Td (edit Facilities and Debt Issuances) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.65 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 307.85 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 130.33 307.85 Td (W) Tj ET Q q 0 0 0 rg BT 139.71 307.85 Td (est) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 280.25 Td (On December 31, 2014, Pinnacle ) Tj ET Q q 0 0 0 rg BT 240.82 280.25 Td (W) Tj ET Q q 0 0 0 rg BT 250.75 280.25 Td (est entered into a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 331.86 280.25 Td ($125 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 390.96 280.25 Td ( term loan facility that matures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 266.45 Td (December 31, 2017. Pinnacle ) Tj ET Q q 0 0 0 rg BT 187.89 266.45 Td (W) Tj ET Q q 0 0 0 rg BT 197.82 266.45 Td (est used the proceeds to repay and refinance the term loan facility that would ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 252.65 Td (have matured in November 2015. ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 225.05 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 211.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 197.45 Td (On July12, 2013, ) Tj ET Q q 0 0 0 rg BT 169.84 197.45 Td (APS purchased all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 257.68 197.45 Td ($33 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 311.03 197.45 Td ( of the Coconino County) Tj ET Q q 0 0 0 rg BT 424.00 197.45 Td (, ) Tj ET Q q 0 0 0 rg BT 429.11 197.45 Td (Arizona Pollution Control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 183.65 Td (Corporation Pollution Control Revenue Refunding Bonds, 1994 Series) Tj ET Q q 0 0 0 rg BT 376.92 183.65 Td (A, due 2029. On October1) Tj ET Q q 0 0 0 rg BT 504.25 183.65 Td (1, 2013, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.85 Td (APS purchased all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 137.34 169.85 Td ($32 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.69 169.85 Td ( of the City of Farmington, New Mexico Pollution Control Revenue Bonds, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 156.05 Td (1994 SeriesC, due 2024. On January15, 2014, both of these series of bonds were canceled and refinanced.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 142.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 128.45 Td (On January10, 2014, ) Tj ET Q q 0 0 0 rg BT 186.44 128.45 Td (APS issued ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 242.03 128.45 Td ($250 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 301.13 128.45 Td ( of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 316.46 128.45 Td (4.70%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 346.17 128.45 Td ( unsecured senior notes that mature on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 114.65 Td (January15, 2044. ) Tj ET Q q 0 0 0 rg BT 136.81 114.65 Td (The proceeds from the sale were used to repay commercial paper which was used to fund ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.85 Td (the acquisition of SCE) Tj ET Q q 0 0 0 rg BT 156.51 100.85 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 163.86 100.85 Td (48%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 184.94 100.85 Td ( ownership interest in each of Units 4 and 5 of Four Corners and to replenish cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 87.05 Td (used in 2013 to re-acquire the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 189.37 87.05 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 206.62 87.05 Td ( series of tax-exempt indebtedness.) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 215 0 obj <>] /Rotate 0 /Contents 216 0 R>> endobj 216 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (104) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (On May1, 2014, ) Tj ET Q q 0 0 0 rg BT 166.00 721.05 Td (APS purchased a total of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 283.22 721.05 Td ($100 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 342.32 721.05 Td ( of the Maricopa County) Tj ET Q q 0 0 0 rg BT 454.63 721.05 Td (, ) Tj ET Q q 0 0 0 rg BT 459.75 721.05 Td (Arizona, Pollution ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (Control Corporation Pollution Control Revenue Refunding Bonds, 2009 Series) Tj ET Q q 0 0 0 rg BT 414.93 707.25 Td (A, D and E, due 2029 in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (connection with the mandatory tender provisions for this indebtedness. On May14, 2014, ) Tj ET Q q 0 0 0 rg BT 467.59 693.45 Td (APS remarketed all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td ($36 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 102.85 679.65 Td ( of the 2009 Series) Tj ET Q q 0 0 0 rg BT 191.33 679.65 Td (A) Tj ET Q q 0 0 0 rg BT 199.00 679.65 Td ( Bonds, which are classified as long-term debt on our Consolidated Balance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (Sheets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 93.58 665.85 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 183.95 665.85 Td (. ) Tj ET Q q 0 0 0 rg BT 192.37 665.85 Td (W) Tj ET Q q 0 0 0 rg BT 202.30 665.85 Td (e expect to remarket or refinance all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 371.19 665.85 Td ($64 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 424.55 665.85 Td ( of the 2009 SeriesD Bonds ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (and 2009 SeriesE Bonds within the next twelve months.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 638.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.45 Td (On May30, 2014, ) Tj ET Q q 0 0 0 rg BT 171.75 624.45 Td (APS purchased all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 259.59 624.45 Td ($38 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.94 624.45 Td ( of the Navajo County) Tj ET Q q 0 0 0 rg BT 414.40 624.45 Td (, ) Tj ET Q q 0 0 0 rg BT 419.51 624.45 Td (Arizona, Pollution Control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (Corporation Pollution Control Revenue Refunding Bonds, 2009 Series) Tj ET Q q 0 0 0 rg BT 376.92 610.65 Td (A, due 2034, and on June1, 2014, ) Tj ET Q q 0 0 0 rg BT 536.63 610.65 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (purchased a total of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 142.74 596.85 Td ($64 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.09 596.85 Td ( of the Navajo 2009 SeriesB Bonds and 2009 SeriesC Bonds, in each case, in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (connection with the mandatory tender provisions for this indebtedness. On September 23, 2014, ) Tj ET Q q 0 0 0 rg BT 495.69 583.05 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (remarketed all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.46 569.25 Td ($38 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 171.81 569.25 Td ( of the 2009 Series ) Tj ET Q q 0 0 0 rg BT 260.29 569.25 Td (A) Tj ET Q q 0 0 0 rg BT 267.96 569.25 Td ( Bonds, which are classified as current maturities of long-term ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td (debt on our Consolidated Balance Sheets at December 31, 2014. On October 1, 2014, ) Tj ET Q q 0 0 0 rg BT 447.76 555.45 Td (APS remarketed all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.70 555.45 Td ($32 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 541.65 Td ( of the 2009 Series C Bonds, which are classified as long-term debt on our Consolidated Balance Sheets ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (at December 31, 2014. ) Tj ET Q q 0 0 0 rg BT 159.47 527.85 Td (W) Tj ET Q q 0 0 0 rg BT 169.40 527.85 Td (e expect to remarket or refinance all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 338.29 527.85 Td ($32 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.64 527.85 Td ( of the 2009 Series B Bonds within ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (the next twelve months. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 500.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 486.45 Td (On June1, 2014, ) Tj ET Q q 0 0 0 rg BT 166.00 486.45 Td (APS remarketed all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 258.94 486.45 Td ($13 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.29 486.45 Td ( of the Coconino County) Tj ET Q q 0 0 0 rg BT 425.26 486.45 Td (, ) Tj ET Q q 0 0 0 rg BT 430.37 486.45 Td (Arizona Pollution Control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.65 Td (Corporation Pollution Control Revenue Refunding Bonds, 2009 Series) Tj ET Q q 0 0 0 rg BT 376.92 472.65 Td (A, due 2034. ) Tj ET Q q 0 0 0 rg BT 441.87 472.65 Td (These bonds are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (classified as long-term debt on our Consolidated Balance Sheets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 359.29 458.85 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 449.66 458.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 445.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 431.25 Td (On June18, 2014, ) Tj ET Q q 0 0 0 rg BT 171.75 431.25 Td (APS issued ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 227.35 431.25 Td ($250 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 286.45 431.25 Td ( of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 301.78 431.25 Td (3.35%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 331.48 431.25 Td ( unsecured senior notes that mature on June15, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.45 Td (2024. ) Tj ET Q q 0 0 0 rg BT 80.92 417.45 Td (The net proceeds from the sale were used along with other funds to repay at maturity ) Tj ET Q q 0 0 0 rg BT 473.72 417.45 Td (APS) Tj ET Q q 0 0 0 rg BT 498.01 417.45 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 505.36 417.45 Td ($300 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.65 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 403.65 Td ( aggregate principal amount of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 226.74 403.65 Td (5.80%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.45 403.65 Td ( senior notes due June30, 2014.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 376.05 Td (On January 12, 2015, ) Tj ET Q q 0 0 0 rg BT 186.44 376.05 Td (APS issued ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 242.03 376.05 Td ($250 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 301.13 376.05 Td ( of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 316.46 376.05 Td (2.20%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 346.17 376.05 Td ( unsecured senior notes that mature on January ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.25 Td (15, 2020. ) Tj ET Q q 0 0 0 rg BT 98.17 362.25 Td (The net proceeds from the sale were used to repay commercial paper borrowings and replenish cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.45 Td (temporarily used to fund capital expenditures.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 320.85 Td (See Lines of Credit and Short-T) Tj ET Q q 0 0 0 rg BT 237.04 320.85 Td (erm Borrowings in Note 5 and Financial ) Tj ET Q q 0 0 0 rg BT 435.37 320.85 Td (Assurances in Note10 for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.05 Td (discussion of ) Tj ET Q q 0 0 0 rg BT 112.12 307.05 Td (APS) Tj ET Q q 0 0 0 rg BT 136.41 307.05 Td (s separate outstanding letters of credit.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 293.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 279.45 Td (Debt Pr) Tj ET Q q 0 0 0 rg BT 87.93 279.45 Td (ovisions) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 251.85 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 251.85 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 251.85 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 251.85 Td (s and ) Tj ET Q q 0 0 0 rg BT 179.87 251.85 Td (APS) Tj ET Q q 0 0 0 rg BT 204.16 251.85 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 49.50 238.05 Td (include maximum debt to capitalization ratios. Pinnacle ) Tj ET Q q 0 0 0 rg BT 308.62 238.05 Td (W) Tj ET Q q 0 0 0 rg BT 318.55 238.05 Td (est and ) Tj ET Q q 0 0 0 rg BT 353.05 238.05 Td (APS comply with this covenant. For both ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 224.25 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 224.25 Td (est and ) Tj ET Q q 0 0 0 rg BT 136.20 224.25 Td (APS, this covenant requires that the ratio of consolidated debt to total consolidated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.45 Td (capitalization not exceed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 166.68 210.45 Td (65%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 187.76 210.45 Td (. ) Tj ET Q q 0 0 0 rg BT 195.75 210.45 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 210.13 210.45 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.50 210.45 Td (, the ratio was approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 437.19 210.45 Td (46%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 458.27 210.45 Td ( for Pinnacle ) Tj ET Q q 0 0 0 rg BT 519.69 210.45 Td (W) Tj ET Q q 0 0 0 rg BT 529.63 210.45 Td (est and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.65 Td (45%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.58 196.65 Td ( for ) Tj ET Q q 0 0 0 rg BT 89.10 196.65 Td (APS. Failure to comply with such covenant levels would result in an event of default which, generally ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.85 Td (speaking, would require the immediate repayment of the debt subject to the covenants and could cross-default ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.05 Td (other debt. See further discussion of cross-default provisions below) Tj ET Q q 0 0 0 rg BT 371.96 169.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 155.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 141.45 Td (Neither Pinnacle ) Tj ET Q q 0 0 0 rg BT 165.13 141.45 Td (W) Tj ET Q q 0 0 0 rg BT 175.06 141.45 Td (est) Tj ET Q q 0 0 0 rg BT 191.03 141.45 Td (s nor ) Tj ET Q q 0 0 0 rg BT 215.95 141.45 Td (APS) Tj ET Q q 0 0 0 rg BT 240.24 141.45 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 49.50 127.65 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 547.18 127.65 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.85 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 49.50 100.05 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 86.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 72.45 Td (All of Pinnacle ) Tj ET Q q 0 0 0 rg BT 157.79 72.45 Td (W) Tj ET Q q 0 0 0 rg BT 167.73 72.45 Td (est) Tj ET Q q 0 0 0 rg BT 183.70 72.45 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 58.65 Td (and the potential acceleration of payment under these loan agreements if Pinnacle ) Tj ET Q q 0 0 0 rg BT 428.01 58.65 Td (W) Tj ET Q q 0 0 0 rg BT 437.94 58.65 Td (est or ) Tj ET Q q 0 0 0 rg BT 465.42 58.65 Td (APS were to default ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 217 0 obj <>] /Rotate 0 /Contents 218 0 R>> endobj 218 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (105) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (under certain other material agreements. ) Tj ET Q q 0 0 0 rg BT 240.13 721.05 Td (All of ) Tj ET Q q 0 0 0 rg BT 269.52 721.05 Td (APS) Tj ET Q q 0 0 0 rg BT 293.81 721.05 Td (s bank agreements contain "cross-default" provisions that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 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 498.81 707.25 Td (APS were to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (default under certain other material agreements. Pinnacle ) Tj ET Q q 0 0 0 rg BT 317.83 693.45 Td (W) Tj ET Q q 0 0 0 rg BT 327.77 693.45 Td (est and ) Tj ET Q q 0 0 0 rg BT 362.26 693.45 Td (APS do not have a material adverse change ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (restriction for credit facility borrowings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 652.05 Td (An existing ) Tj ET Q q 0 0 0 rg BT 141.09 652.05 Td (ACC order requires ) Tj ET Q q 0 0 0 rg BT 234.03 652.05 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 467.18 652.05 Td (40%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.26 652.05 Td (. ) Tj ET Q q 0 0 0 rg BT 496.25 652.05 Td (As defined in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 638.25 Td (ACC order) Tj ET Q q 0 0 0 rg BT 116.11 638.25 Td (, the common equity ratio is total shareholder equity divided by the sum of total shareholder ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (equity and long-term debt, including current maturities of long-term debt. ) Tj ET Q q 0 0 0 rg BT 393.46 624.45 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 407.84 624.45 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 498.21 624.45 Td (, ) Tj ET Q q 0 0 0 rg BT 503.33 624.45 Td (APS was in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (compliance with this common equity ratio requirement. Its total shareholder equity was approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 526.95 610.65 Td ($4.5 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 79.53 596.85 Td (, and total capitalization was approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 282.96 596.85 Td ($8.0 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 335.99 596.85 Td (. ) Tj ET Q q 0 0 0 rg BT 343.98 596.85 Td (APS would be prohibited from paying ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (dividends if the payment would reduce its total shareholder equity below approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 457.01 583.05 Td ($3.2 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 510.04 583.05 Td (, assuming ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (APS) Tj ET Q q 0 0 0 rg BT 73.79 569.25 Td (s total capitalization remains the same. Since ) Tj ET Q q 0 0 0 rg BT 285.53 569.25 Td (APS was in compliance with this common equity ratio ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td (requirement, this restriction does not materially af) Tj ET Q q 0 0 0 rg BT 279.55 555.45 Td (fect Pinnacle ) Tj ET Q q 0 0 0 rg BT 341.92 555.45 Td (W) Tj ET Q q 0 0 0 rg BT 351.86 555.45 Td (est) Tj ET Q q 0 0 0 rg BT 367.83 555.45 Td (s ability to meet its ongoing capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (requirements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 527.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (7.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 514.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.88 514.05 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 88.75 514.05 Td (Retir) Tj ET Q q 0 0 0 rg BT 114.08 514.05 Td (ement Plans and Other) Tj ET Q q 0 0 0 rg BT 227.28 514.05 Td ( Benefits) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 486.45 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 486.45 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 486.45 Td (est sponsors a qualified defined benefit and account balance pension plan \(The Pinnacle ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.65 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 472.65 Td (est Capital Corporation Retirement Plan\) and a non-qualified supplemental excess benefit retirement plan for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (the employees of Pinnacle ) Tj ET Q q 0 0 0 rg BT 173.20 458.85 Td (W) Tj ET Q q 0 0 0 rg BT 183.14 458.85 Td (est and its subsidiaries. ) Tj ET Q q 0 0 0 rg BT 294.30 458.85 Td (All new employees participate in the account balance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.05 Td (plan. Defined benefit plans specify the amount of benefits a plan participant is to receive using information ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (about the participant. ) Tj ET Q q 0 0 0 rg BT 152.44 431.25 Td (The pension plan covers nearly all employees. ) Tj ET Q q 0 0 0 rg BT 370.99 431.25 Td (The supplemental excess benefit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.45 Td (retirement plan covers of) Tj ET Q q 0 0 0 rg BT 164.56 417.45 Td (ficers of the Company and highly compensated employees designated for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.65 Td (participation by the Board of Directors. Our employees do not contribute to the plans. ) Tj ET Q q 0 0 0 rg BT 452.34 403.65 Td (W) Tj ET Q q 0 0 0 rg BT 462.27 403.65 Td (e calculate the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.85 Td (benefits based on age, years of service and pay) Tj ET Q q 0 0 0 rg BT 264.29 389.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 362.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 362.25 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 362.25 Td (est also sponsors an other postretirement benefit plan \(Pinnacle ) Tj ET Q q 0 0 0 rg BT 430.99 362.25 Td (W) Tj ET Q q 0 0 0 rg BT 440.93 362.25 Td (est Capital Corporation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.45 Td (Group Life and Medical Plan\) for the employees of Pinnacle ) Tj ET Q q 0 0 0 rg BT 330.96 348.45 Td (W) Tj ET Q q 0 0 0 rg BT 340.89 348.45 Td (est and its subsidiaries. ) Tj ET Q q 0 0 0 rg BT 452.48 348.45 Td (This plan provides ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.65 Td (medical and life insurance benefits to retired employees. Employees must retire to become eligible for these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.85 Td (retirement benefits, which are based on years of service and age. For the medical insurance plan, retirees make ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.05 Td (contributions to cover a portion of the plan costs. For the life insurance plan, retirees do not make ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (contributions. ) Tj ET Q q 0 0 0 rg BT 118.61 293.25 Td (W) Tj ET Q q 0 0 0 rg BT 128.54 293.25 Td (e retain the right to change or eliminate these benefits.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.65 Td (On September 30, 2014, Pinnacle ) Tj ET Q q 0 0 0 rg BT 242.75 265.65 Td (W) Tj ET Q q 0 0 0 rg BT 252.69 265.65 Td (est announced plan design changes to the other postretirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.85 Td (benefit plan, which required an interim remeasurement of the benefit obligation for the plan. Ef) Tj ET Q q 0 0 0 rg BT 490.94 251.85 Td (fective January ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.05 Td (1, 2015, those eligible retirees and dependents over age ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 307.21 238.05 Td (65) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 318.71 238.05 Td ( and on Medicare can choose to be enrolled in a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (Health Reimbursement ) Tj ET Q q 0 0 0 rg BT 158.09 224.25 Td (Arrangement \(HRA\). ) Tj ET Q q 0 0 0 rg BT 261.99 224.25 Td (The Company will provide a subsidy allowing post-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 501.23 224.25 Td (65) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.73 224.25 Td ( retirees to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.45 Td (purchase a Medicare supplement plan on a private exchange network. ) Tj ET Q q 0 0 0 rg BT 375.64 210.45 Td (The remeasurement of the benefit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.65 Td (obligation included updating the assumptions. ) Tj ET Q q 0 0 0 rg BT 263.94 196.65 Td (The remeasurement reduced net periodic benefit costs in 2014 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.85 Td (by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 63.88 182.85 Td ($10 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 117.23 182.85 Td ( \() Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 123.93 182.85 Td ($5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 171.53 182.85 Td ( of which reduced expense\), which was recognized during the fourth quarter of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.05 Td (2014. ) Tj ET Q q 0 0 0 rg BT 78.04 169.05 Td (The September 30, 2014 remeasurement also resulted in a decrease in Pinnacle ) Tj ET Q q 0 0 0 rg BT 444.12 169.05 Td (W) Tj ET Q q 0 0 0 rg BT 454.05 169.05 Td (est) Tj ET Q q 0 0 0 rg BT 470.02 169.05 Td (s other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.25 Td (postretirement benefit obligation of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.57 155.25 Td ($316 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 274.67 155.25 Td (, which was of) Tj ET Q q 0 0 0 rg BT 341.53 155.25 Td (fset by the related regulatory asset and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.45 Td (accumulated other comprehensive income. ) Tj ET Q q 0 0 0 rg BT 248.44 141.45 Td (As a result of this reduction, the other postretirement benefit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.65 Td (obligation, and related regulatory asset, have been reduced to the extent that Pinnacle ) Tj ET Q q 0 0 0 rg BT 444.31 127.65 Td (W) Tj ET Q q 0 0 0 rg BT 454.24 127.65 Td (est will now reflect an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.85 Td (asset for other postretirement benefits and a related regulatory liability with balances at December 31, 2014 of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.05 Td ($152 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 108.60 100.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 130.96 100.05 Td ($231 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.06 100.05 Td (, respectively) Tj ET Q q 0 0 0 rg BT 250.62 100.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 86.25 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 219 0 obj <>] /Rotate 0 /Contents 220 0 R>> endobj 220 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (106) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (Because of the plan changes, the Company is currently in the process of seeking IRS and regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (approval to move approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 202.15 707.25 Td ($100 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 261.25 707.25 Td ( of the other postretirement benefit trust assets into a new trust ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (account to pay for active union employee medical costs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.85 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 665.85 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 665.85 Td (est uses a December31 measurement date each year for its pension and other postretirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (benefit plans. ) Tj ET Q q 0 0 0 rg BT 117.00 652.05 Td (The market-related value of our plan assets is their fair value at the measurement date. See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (13 for further discussion of how fair values are determined. Due to subjective and complex judgments, which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (may be required in determining fair values, actual results could dif) Tj ET Q q 0 0 0 rg BT 355.54 624.45 Td (fer from the results estimated through the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (application of these methods.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 596.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 583.05 Td (A) Tj ET Q q 0 0 0 rg BT 93.17 583.05 Td ( significant portion of the changes in the actuarial gains and losses of our pension and postretirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (plans is attributable to ) Tj ET Q q 0 0 0 rg BT 153.63 569.25 Td (APS and therefore is recoverable in rates. ) Tj ET Q q 0 0 0 rg BT 350.02 569.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 406.76 569.25 Td (, these changes are recorded as a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td (regulatory asset or regulatory liability) Tj ET Q q 0 0 0 rg BT 222.48 555.45 Td (. In its 2009 retail rate case settlement, ) Tj ET Q q 0 0 0 rg BT 404.83 555.45 Td (APS received approval to defer a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (portion of pension and other postretirement benefit cost increases incurred in 201) Tj ET Q q 0 0 0 rg BT 423.04 541.65 Td (1 and 2012. ) Tj ET Q q 0 0 0 rg BT 482.56 541.65 Td (W) Tj ET Q q 0 0 0 rg BT 492.50 541.65 Td (e deferred ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (pension and other postretirement benefit costs of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.87 527.85 Td ($14 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 399.22 527.85 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 413.92 527.85 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 436.92 527.85 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.27 527.85 Td ($1) Tj ET Q q 0 0 0 rg BT 470.34 527.85 Td (1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.19 527.85 Td ( in 201) Tj ET Q q 0 0 0 rg BT 543.71 527.85 Td (1. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (Pursuant to an ) Tj ET Q q 0 0 0 rg BT 117.54 514.05 Td (ACC regulatory order) Tj ET Q q 0 0 0 rg BT 218.00 514.05 Td (, we began amortizing the regulatory asset over ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 438.66 514.05 Td (3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 444.41 514.05 Td ( years beginning in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (July2012. ) Tj ET Q q 0 0 0 rg BT 102.96 500.25 Td (W) Tj ET Q q 0 0 0 rg BT 112.90 500.25 Td (e amortized approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 239.03 500.25 Td ($8 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 286.63 500.25 Td ( during ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 322.41 500.25 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.41 500.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 351.16 500.25 Td ($8 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.76 500.25 Td ( during ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 434.53 500.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 457.53 500.25 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 482.76 500.25 Td ($4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 530.36 500.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.45 Td (during 2012.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 472.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 458.85 Td (The following table provides details of the plans) Tj ET Q q 0 0 0 rg BT 311.08 458.85 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 49.50 445.05 Td (costs char) Tj ET Q q 0 0 0 rg BT 94.96 445.05 Td (ged to expense \(including administrative costs and excluding amounts capitalized as overhead ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (construction, billed to electric plant participants or char) Tj ET Q q 0 0 0 rg BT 304.13 431.25 Td (ged to the regulatory asset or liability\) \(dollars in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.45 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 380.95 162.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 380.95 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 380.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 380.95 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 380.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 380.95 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 380.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 380.95 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 380.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 380.95 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 380.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 380.95 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 340.95 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 340.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 340.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 340.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 340.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 340.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 340.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 340.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 340.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 340.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 340.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 340.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 310.95 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 310.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 310.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 310.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 310.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 310.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 310.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 310.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 310.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 310.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 310.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 310.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 280.95 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 280.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 280.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 280.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 280.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 280.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 280.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 280.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 280.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 280.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 280.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 280.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 250.95 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 250.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 250.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 250.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 250.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 250.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 250.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 250.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 250.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 250.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 250.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 250.95 55.00 -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 212 393.95000000000005 m 267 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 393.95000000000005 m 271 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 393.95000000000005 m 326 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 393.95000000000005 m 330 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 393.95000000000005 m 385 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 393.95000000000005 m 444 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 393.95000000000005 m 448 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 393.95000000000005 m 503 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 393.95000000000005 m 507 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 393.95000000000005 m 562 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 393.95000000000005 m 267 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 380.95000000000005 m 267 380.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 393.95000000000005 m 271 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 393.95000000000005 m 326 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 380.95000000000005 m 326 380.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 393.95000000000005 m 330 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 393.95000000000005 m 385 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 380.95000000000005 m 385 380.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 393.95000000000005 m 444 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 380.95000000000005 m 444 380.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 393.95000000000005 m 448 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 393.95000000000005 m 503 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 380.95000000000005 m 503 380.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 393.95000000000005 m 507 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 393.95000000000005 m 562 393.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 380.95000000000005 m 562 380.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 380.95000000000005 m 267 380.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 380.95000000000005 m 326 380.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 380.95000000000005 m 385 380.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 380.95000000000005 m 444 380.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 380.95000000000005 m 503 380.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 380.95000000000005 m 562 380.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 265.95000000000005 m 267 265.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 265.95000000000005 m 326 265.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 265.95000000000005 m 385 265.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 265.95000000000005 m 444 265.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 265.95000000000005 m 503 265.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 265.95000000000005 m 562 265.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 265.95000000000005 m 267 265.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 251.95000000000005 m 267 251.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 249.95000000000005 m 267 249.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 265.95000000000005 m 326 265.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 251.95000000000005 m 326 251.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 249.95000000000005 m 326 249.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 265.95000000000005 m 385 265.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 251.95000000000005 m 385 251.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 249.95000000000005 m 385 249.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 265.95000000000005 m 444 265.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 251.95000000000005 m 444 251.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 249.95000000000005 m 444 249.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 265.95000000000005 m 503 265.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 251.95000000000005 m 503 251.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 249.95000000000005 m 503 249.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 265.95000000000005 m 562 265.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 251.95000000000005 m 562 251.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 249.95000000000005 m 562 249.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 236.95000000000005 m 267 236.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 234.95000000000005 m 267 234.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 236.95000000000005 m 326 236.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 234.95000000000005 m 326 234.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 236.95000000000005 m 385 236.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 234.95000000000005 m 385 234.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 236.95000000000005 m 444 236.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 234.95000000000005 m 444 234.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 236.95000000000005 m 503 236.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 234.95000000000005 m 503 234.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 236.95000000000005 m 562 236.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 234.95000000000005 m 562 234.95000000000005 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 396.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 284.65 398.18 Td (Pension) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.05 398.18 Td (OtherBenefits) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 383.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 231.00 385.18 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 290.00 385.18 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.00 385.18 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.00 385.18 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.00 385.18 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.00 385.18 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 371.52 Td (Service cost-benefits earned during) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 361.52 Td (the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.50 360.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.65 360.62 Td (53,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.50 360.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.65 360.62 Td (64,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.50 360.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 360.62 Td (63,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 360.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 360.62 Td (18,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 360.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 360.62 Td (23,597) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.50 360.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 360.62 Td (27,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 346.52 Td (Interest cost on benefit obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.65 345.62 Td (129,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.65 345.62 Td (112,392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 345.62 Td (119,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 345.62 Td (41,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 345.62 Td (41,536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 345.62 Td (46,467) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 331.52 Td (Expected return on plan assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.30 330.62 Td (\(158,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.15 330.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.30 330.67 Td (\(146,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 330.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.30 330.67 Td (\(140,979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 330.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.30 330.67 Td (\(46,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 330.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 330.67 Td (\(45,717) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 330.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 330.67 Td (\(45,793) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 330.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 316.52 Td (Amortization of:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 263.50 313.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 322.50 313.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 381.50 313.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 440.50 313.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 499.50 313.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 313.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 300.62 Td (Transition obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.15 300.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 300.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 300.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 300.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 300.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 300.62 Td (452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 286.52 Td (Prior service cost \(credit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 285.62 Td (869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 285.62 Td (1,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 285.62 Td (1,143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.30 285.67 Td (\(9,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 285.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.80 285.67 Td (\(179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 285.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 285.67 Td (\(179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 285.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 270.62 Td (Net actuarial loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.65 270.62 Td (10,963) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.65 270.62 Td (39,852) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 270.62 Td (44,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.65 270.62 Td (1,175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 270.62 Td (11,310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 270.62 Td (20,233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 255.62 Td (Net periodic benefit cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.50 255.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.65 255.62 Td (35,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.50 255.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.65 255.62 Td (71,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.50 255.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 255.62 Td (87,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 255.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.65 255.62 Td (4,531) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 255.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 255.62 Td (30,547) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.50 255.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 255.62 Td (48,343) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 240.62 Td (Portion of cost charged to expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.50 240.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.65 240.62 Td (21,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.50 240.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.65 240.62 Td (38,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.50 240.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 240.62 Td (36,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 240.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.65 240.62 Td (6,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 240.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 240.62 Td (18,469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.50 240.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 240.62 Td (19,321) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 222.65 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 221 0 obj <>] /Rotate 0 /Contents 222 0 R>> endobj 222 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (107) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (The following table shows the plans) Tj ET Q q 0 0 0 rg BT 254.88 721.05 Td ( changes in the benefit obligations and funded status for the years ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 707.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 94.85 707.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 117.85 707.25 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 670.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 670.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 670.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 670.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 670.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 670.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 670.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 670.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 641.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 641.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 641.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 641.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 641.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 641.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 641.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 641.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 611.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 611.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 611.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 611.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 611.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 611.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 611.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 611.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 581.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 581.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 581.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 581.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 581.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 581.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 581.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 581.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 551.75 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 551.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 551.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 551.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 551.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 551.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 551.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 551.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 522.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 522.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 522.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 522.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 522.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 522.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 522.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 522.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 492.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 492.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 492.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 492.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 492.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 462.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 462.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 462.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 462.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 462.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 462.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 462.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 462.75 65.00 -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 290 683.75 m 355 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 683.75 m 359 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 683.75 m 424 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 683.75 m 493 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 683.75 m 497 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 683.75 m 562 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 683.75 m 355 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 670.75 m 355 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 683.75 m 359 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 683.75 m 424 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 670.75 m 424 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 683.75 m 493 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 670.75 m 493 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 683.75 m 497 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 683.75 m 562 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 670.75 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 290 566.75 m 355 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 566.75 m 424 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 566.75 m 493 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 566.75 m 562 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 551.75 m 355 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 551.75 m 424 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 551.75 m 493 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 551.75 m 562 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 477.75 m 355 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 477.75 m 424 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 477.75 m 493 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 477.75 m 562 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 462.75 m 355 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 462.75 m 424 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 462.75 m 493 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 462.75 m 562 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 462.75 m 355 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 448.75 m 355 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 446.75 m 355 446.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 462.75 m 424 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 448.75 m 424 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 446.75 m 424 446.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 462.75 m 493 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 448.75 m 493 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 446.75 m 493 446.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 462.75 m 562 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 448.75 m 562 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 446.75 m 562 446.75 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 686.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.15 687.98 Td (Pension) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.55 687.98 Td (OtherBenefits) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 673.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.00 674.98 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 674.98 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 674.98 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 674.98 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 661.48 Td (Change in Benefit Obligation) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 659.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 659.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 659.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 659.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 647.32 Td (Benefit obligation at January1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 646.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 646.42 Td (2,646,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 646.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 646.42 Td (2,850,846) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 646.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 646.42 Td (890,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 646.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 646.42 Td (990,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 632.32 Td (Service cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 631.42 Td (53,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 631.42 Td (64,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 631.42 Td (18,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 631.42 Td (23,597) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 617.32 Td (Interest cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 616.42 Td (129,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 616.42 Td (112,392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 616.42 Td (41,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 616.42 Td (41,536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 601.42 Td (Benefit payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.30 601.47 Td (\(128,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 601.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 601.47 Td (\(125,269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 601.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 601.47 Td (\(29,054) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 601.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 601.47 Td (\(26,675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 601.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 587.32 Td (Actuarial \(gain\) loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 586.42 Td (378,394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 586.47 Td (\(255,634) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 586.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 586.42 Td (150,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 586.47 Td (\(138,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 586.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 572.32 Td (Plan amendments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 571.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 571.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 571.47 Td (\(388,599) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 571.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 571.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 556.42 Td (Benefit obligation at December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 556.42 Td (3,078,648) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 556.42 Td (2,646,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 556.42 Td (682,335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 556.42 Td (890,418) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 542.43 Td (Change in Plan Assets) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 540.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 540.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 540.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 540.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 527.42 Td (Fair value of plan assets at January1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 527.42 Td (2,264,121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 527.42 Td (2,079,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 527.42 Td (748,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 527.42 Td (684,221) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 513.32 Td (Actual return on plan assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 512.42 Td (292,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 512.42 Td (150,546) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 512.42 Td (105,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 512.42 Td (76,995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 498.32 Td (Employer contributions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 497.42 Td (175,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 497.42 Td (140,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 497.42 Td (770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 497.42 Td (14,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 483.32 Td (Benefit payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.30 482.47 Td (\(116,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 482.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 482.47 Td (\(106,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 482.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 482.47 Td (\(19,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 482.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 482.47 Td (\(27,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 482.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 467.42 Td (Fair value of plan assets at December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 467.42 Td (2,615,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 467.42 Td (2,264,121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 467.42 Td (834,625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 467.42 Td (748,339) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 453.48 Td (Funded Status at December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.30 452.47 Td (\(463,244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 452.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 452.47 Td (\(382,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 452.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 452.42 Td (152,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 452.47 Td (\(142,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 452.42 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 420.65 Td (The following table shows the projected benefit obligation and the accumulated benefit obligation for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 406.85 Td (pension plans with an accumulated obligation in excess of plan assets as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 397.30 406.85 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 487.67 406.85 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 510.03 406.85 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 533.03 406.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 393.05 Td (\(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 369.55 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 369.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 369.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 369.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 339.55 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 339.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 339.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 339.55 65.00 -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 428 369.55 m 493 369.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 369.55 m 562 369.55 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 372.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 373.78 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 373.78 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 360.12 Td (Projected benefit obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 359.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 359.22 Td (3,078,648) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 359.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 359.22 Td (2,646,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 345.12 Td (Accumulated benefit obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 344.22 Td (2,873,741) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 344.22 Td (2,469,889) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 330.12 Td (Fair value of plan assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 329.22 Td (2,615,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 329.22 Td (2,264,121) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 297.45 Td (The following table shows the amounts recognized on the Consolidated Balance Sheets as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 283.65 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.87 283.65 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 162.23 283.65 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 185.23 283.65 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 247.15 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 247.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 247.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 247.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 247.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 247.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 247.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 247.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 217.15 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 217.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 217.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 217.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 217.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 217.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 217.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 217.15 65.00 -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 290 260.15 m 355 260.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 260.15 m 359 260.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 260.15 m 424 260.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 260.15 m 493 260.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 260.15 m 497 260.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 260.15 m 562 260.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 260.15 m 355 260.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 247.14999999999998 m 355 247.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 260.15 m 359 260.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 260.15 m 424 260.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 247.14999999999998 m 424 247.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 260.15 m 493 260.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 247.14999999999998 m 493 247.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 260.15 m 497 260.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 260.15 m 562 260.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 247.14999999999998 m 562 247.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 247.14999999999998 m 355 247.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 247.14999999999998 m 424 247.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 247.14999999999998 m 493 247.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 247.14999999999998 m 562 247.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 202.14999999999998 m 355 202.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 202.14999999999998 m 424 202.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 202.14999999999998 m 493 202.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 202.14999999999998 m 562 202.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 202.14999999999998 m 355 202.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 188.14999999999998 m 355 188.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 186.14999999999998 m 355 186.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 202.14999999999998 m 424 202.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 188.14999999999998 m 424 188.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 186.14999999999998 m 424 186.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 202.14999999999998 m 493 202.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 188.14999999999998 m 493 188.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 186.14999999999998 m 493 186.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 202.14999999999998 m 562 202.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 188.14999999999998 m 562 188.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 186.14999999999998 m 562 186.14999999999998 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 262.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.15 264.38 Td (Pension) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.55 264.38 Td (OtherBenefits) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 249.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.00 251.38 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 251.38 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 251.38 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 251.38 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 237.72 Td (Noncurrent asset) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 236.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 236.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 236.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 236.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 236.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 236.82 Td (152,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 236.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 236.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 222.72 Td (Current liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.30 221.87 Td (\(9,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 221.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 221.87 Td (\(10,860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 221.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 221.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 221.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 207.72 Td (Noncurrent liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.30 206.87 Td (\(453,736) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 206.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 206.87 Td (\(371,549) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 206.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 206.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 206.87 Td (\(142,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 206.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 191.82 Td (Net amount recognized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 191.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.30 191.87 Td (\(463,244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 191.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 191.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 191.87 Td (\(382,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 191.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 191.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 191.82 Td (152,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 191.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 191.87 Td (\(142,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 191.82 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 173.85 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 223 0 obj <>] /Rotate 0 /Contents 224 0 R>> endobj 224 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (108) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (The following table shows the details related to accumulated other comprehensive loss as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.87 707.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 162.23 707.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 185.23 707.25 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 670.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 670.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 670.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 670.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 670.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 670.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 670.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 670.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 640.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 640.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 640.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 640.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 640.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 640.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 640.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 640.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 610.75 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 610.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 610.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 610.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 610.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 610.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 610.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 610.75 65.00 -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 290 683.75 m 355 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 683.75 m 359 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 683.75 m 424 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 683.75 m 493 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 683.75 m 497 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 683.75 m 562 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 683.75 m 355 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 670.75 m 355 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 683.75 m 359 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 683.75 m 424 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 670.75 m 424 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 683.75 m 493 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 670.75 m 493 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 683.75 m 497 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 683.75 m 562 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 670.75 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 290 670.75 m 355 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 670.75 m 424 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 670.75 m 493 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 670.75 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 290 610.75 m 355 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 610.75 m 424 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 610.75 m 493 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 610.75 m 562 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 610.75 m 355 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 596.75 m 355 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 594.75 m 355 594.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 610.75 m 424 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 596.75 m 424 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 594.75 m 424 594.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 610.75 m 493 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 596.75 m 493 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 594.75 m 493 594.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 610.75 m 562 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 596.75 m 562 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 594.75 m 562 594.75 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 686.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.15 687.98 Td (Pension) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.55 687.98 Td (OtherBenefits) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 673.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.00 674.98 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 674.98 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 674.98 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 674.98 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 661.32 Td (Net actuarial loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 660.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 660.42 Td (577,976) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 660.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 660.42 Td (344,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 660.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 660.42 Td (148,006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 660.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 660.42 Td (57,816) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 646.32 Td (Prior service cost \(credit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 645.42 Td (1,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 645.42 Td (2,072) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 645.47 Td (\(379,269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 645.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 645.47 Td (\(296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 645.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 631.32 Td (APSs portion recorded as a regulatory \(asset\) liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.30 630.47 Td (\(485,037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 630.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 630.47 Td (\(265,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 630.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 630.42 Td (230,916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 630.47 Td (\(49,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 630.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 616.32 Td (Income tax expense \(benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.30 615.47 Td (\(36,890) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 615.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 615.47 Td (\(32,204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 615.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 615.42 Td (851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 615.47 Td (\(2,528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 615.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 601.32 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 600.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 600.42 Td (57,252) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 600.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 600.42 Td (49,301) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 600.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 600.42 Td (504) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 600.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 600.42 Td (5,694) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 568.65 Td (The following table shows the estimated amounts that will be amortized from accumulated other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 554.85 Td (comprehensive loss and regulatory assets into net periodic benefit cost in 2015 \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 524.35 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 524.35 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 524.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 524.35 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 496.35 378.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 496.35 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 496.35 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 496.35 65.00 -24.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 524.35 m 493 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 524.35 m 562 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 524.35 m 493 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 524.35 m 562 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 496.35 m 493 496.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 496.35 m 562 496.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 496.35 m 493 496.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 473.35 m 493 473.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 471.35 m 493 471.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 496.35 m 562 496.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 473.35 m 562 473.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 471.35 m 562 471.35 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 527.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.65 528.58 Td (Pension) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 518.85 536.43 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.20 528.43 Td (Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 514.92 Td (Net actuarial loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 514.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 514.92 Td (28,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 514.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 514.92 Td (5,651) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 500.92 Td (Prior service cost \(credit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 500.92 Td (595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 500.97 Td (\(37,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 500.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 486.92 Td (Total amounts estimated to be amortized from accumulated other comprehensive loss \(gain\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 476.92 Td (and regulatory assets \(liabilities\) in 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 477.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 477.02 Td (28,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 477.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 477.07 Td (\(32,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 477.02 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 445.25 Td (The following table shows the weighted-average assumptions used for both the pension and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.45 Td (benefits to determine benefit obligations and net periodic benefit costs:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 367.95 150.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 200.00 367.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 367.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.00 367.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 367.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 367.95 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 367.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 367.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 367.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 367.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 367.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 339.95 150.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 200.00 339.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 339.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.00 339.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 339.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 339.95 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 339.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 339.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 339.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 339.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 339.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 300.95 150.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 200.00 300.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 300.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.00 300.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 300.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 300.95 57.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 300.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 300.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 300.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 300.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 300.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 250.95 150.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 200.00 250.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 250.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.00 250.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 250.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 250.95 57.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 250.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 250.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 250.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 250.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 250.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 210.95 150.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 200.00 210.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 210.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.00 210.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 210.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 210.95 57.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 210.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 210.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 210.95 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 210.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 210.95 58.00 -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 200 400.95000000000005 m 258 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 400.95000000000005 m 262 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 400.95000000000005 m 320 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 400.95000000000005 m 381 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 400.95000000000005 m 439 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 400.95000000000005 m 501 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 400.95000000000005 m 505 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 400.95000000000005 m 563 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 400.95000000000005 m 258 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 388.95000000000005 m 258 388.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 400.95000000000005 m 262 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 400.95000000000005 m 320 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 388.95000000000005 m 320 388.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 400.95000000000005 m 381 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 388.95000000000005 m 381 388.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 400.95000000000005 m 439 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 388.95000000000005 m 439 388.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 400.95000000000005 m 443 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 400.95000000000005 m 501 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 388.95000000000005 m 501 388.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 400.95000000000005 m 505 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 400.95000000000005 m 563 400.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 388.95000000000005 m 563 388.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 388.95000000000005 m 381 388.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 367.95000000000005 m 381 367.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 388.95000000000005 m 439 388.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 367.95000000000005 m 439 367.95000000000005 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 403.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.45 413.03 Td (BenefitObligations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.45 405.03 Td (AsofDecember) Tj ET Q q 0 0 0 rg BT 280.50 405.03 Td (31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 420.40 413.03 Td (BenefitCosts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.75 405.03 Td (For) Tj ET Q q 0 0 0 rg BT 396.04 405.03 Td (the) Tj ET Q q 0 0 0 rg BT 410.41 405.03 Td (Y) Tj ET Q q 0 0 0 rg BT 415.30 405.03 Td (earsEndedDecember) Tj ET Q q 0 0 0 rg BT 490.25 405.03 Td (31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 391.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 220.50 393.03 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 282.50 393.03 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.00 393.03 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.50 393.03 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.50 393.03 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 335.40 380.18 Td (January -) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.60 372.18 Td (September) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.20 380.18 Td (October -) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.25 372.18 Td (December) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 358.52 Td (Discount rate pension) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 358.52 Td (4.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 358.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.65 358.52 Td (4.88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 358.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 358.52 Td (4.88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 358.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 358.52 Td (4.88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 358.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 358.52 Td (4.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 358.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 358.52 Td (4.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 358.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 344.52 Td (Discount rate other benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 344.52 Td (4.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 344.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.65 344.52 Td (5.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 344.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 344.52 Td (5.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 344.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 344.52 Td (4.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 344.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 344.52 Td (4.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 344.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 344.52 Td (4.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 344.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 330.52 Td (Rate of compensation increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 330.52 Td (4.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 330.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.65 330.52 Td (4.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 330.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 330.52 Td (4.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 330.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 330.52 Td (4.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 330.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 330.52 Td (4.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 330.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 330.52 Td (4.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 330.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 316.52 Td (Expected long-term return on plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 306.52 Td (assets - pension) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.80 305.62 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.80 305.62 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 305.62 Td (6.90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 305.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 305.62 Td (6.90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 305.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 305.62 Td (7.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 305.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 305.62 Td (7.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 305.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 291.52 Td (Expected long-term return on plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 281.52 Td (assets - other benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.80 280.62 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.80 280.62 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 280.62 Td (6.80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 280.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 280.62 Td (4.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 280.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 280.62 Td (7.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 280.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 280.62 Td (7.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 280.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 266.52 Td (Initial healthcare cost trend rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 256.52 Td (\(pre-65 participants\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 255.62 Td (7.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 255.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.65 255.62 Td (7.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 255.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 255.62 Td (7.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 255.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 255.62 Td (7.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 255.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 255.62 Td (7.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 255.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 255.62 Td (7.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 255.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 241.52 Td (Initial healthcare cost trend rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 231.52 Td (\(post-65 participants\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 230.62 Td (5.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 230.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.65 230.62 Td (7.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 230.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 230.62 Td (7.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 230.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 230.62 Td (5.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 230.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 230.62 Td (7.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 230.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 230.62 Td (7.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 230.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 216.52 Td (Ultimate healthcare cost trend rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 215.62 Td (5.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 215.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.65 215.62 Td (5.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 215.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 215.62 Td (5.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 215.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 215.62 Td (5.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 215.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 215.62 Td (5.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 215.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 215.62 Td (5.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 215.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 201.52 Td (Number of years to ultimate trend) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 191.52 Td (rate \(pre-65 participants\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 190.62 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 190.62 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.50 190.62 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 190.62 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.50 190.62 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.50 190.62 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 176.52 Td (Number of years to ultimate trend) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 166.52 Td (rate \(post-65 participants\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 165.62 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 165.62 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.50 165.62 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 165.62 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.50 165.62 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.50 165.62 Td (4) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 133.85 Td (In selecting the pretax expected long-term rate of return on plan assets, we consider past performance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.05 Td (and economic forecasts for the types of investments held by the plan. For 2015, we are assuming a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 508.43 120.05 Td (6.90%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 538.14 120.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 106.25 Td (long-term rate of return for pension assets and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 264.74 106.25 Td (4.74%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.45 106.25 Td ( \(before tax\) for other benefit assets, which we believe is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 92.45 Td (reasonable given our asset allocation in relation to historical and expected performance.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 64.85 Td (In October 2014, the Society of ) Tj ET Q q 0 0 0 rg BT 232.73 64.85 Td (Actuaries) Tj ET Q q 0 0 0 rg BT 279.77 64.85 Td ( Retirement Plans Experience Committee issued its final ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 51.05 Td (reports on its recommended mortality basis \(RP-2014 Mortality ) Tj ET Q q 0 0 0 rg BT 350.16 51.05 Td (T) Tj ET Q q 0 0 0 rg BT 356.39 51.05 Td (ables Report and "Mortality Improvement ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 225 0 obj <>] /Rotate 0 /Contents 226 0 R>> endobj 226 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (109) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (Scale MP-2014 Report"\). ) Tj ET Q q 0 0 0 rg BT 171.42 721.05 Td (At December 31, 2014, we updated our mortality assumptions using the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (recommended basis with modifications to better reflect our plan experience and additional data regarding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (mortality trends. ) Tj ET Q q 0 0 0 rg BT 131.06 693.45 Td (The updated mortality assumptions resulted in a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 354.95 693.45 Td ($67 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.30 693.45 Td ( increase in Pinnacle ) Tj ET Q q 0 0 0 rg BT 505.81 693.45 Td (W) Tj ET Q q 0 0 0 rg BT 515.74 693.45 Td (est) Tj ET Q q 0 0 0 rg BT 531.71 693.45 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (pension and other postretirement obligations, which was of) Tj ET Q q 0 0 0 rg BT 321.41 679.65 Td (fset by the related regulatory asset, regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (liability and accumulated other comprehensive income.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 638.85 Td (In selecting our healthcare trend rates, we consider past performance and forecasts of healthcare costs. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 625.05 Td (A) Tj ET Q q 0 0 0 rg BT 57.17 625.05 Td ( one percentage point change in the assumed initial and ultimate healthcare cost trend rates would have the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 611.25 Td (following ef) Tj ET Q q 0 0 0 rg BT 105.82 611.25 Td (fects \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 588.75 378.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 588.75 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 588.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 588.75 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 540.75 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 540.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 540.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 540.75 65.00 -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 428 588.75 m 493 588.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 588.75 m 562 588.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 588.75 m 493 588.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 588.75 m 562 588.75 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 591.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.60 592.83 Td (1%Increase) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.75 592.83 Td (1%Decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 579.32 Td (Effect on other postretirement benefits expense, after consideration of amounts capitalized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 569.32 Td (or billed to electric plant participants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 569.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 569.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 569.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.80 569.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 569.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 555.32 Td (Effect on service and interest cost components of net periodic other postretirement benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 545.32 Td (costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 545.42 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.80 545.47 Td (\(9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 545.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 531.32 Td (Effect on the accumulated other postretirement benefit obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 531.32 Td (110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 531.37 Td (\(88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 531.32 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 499.65 Td (Plan ) Tj ET Q q 0 0 0 rg BT 74.11 499.65 Td (Assets) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 485.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 472.05 Td (The Board of Directors has delegated oversight of the pension and other postretirement benefit plans) Tj ET Q q 0 0 0 rg BT 551.54 472.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.25 Td (assets to an Investment Management Committee \(Committee\). ) Tj ET Q q 0 0 0 rg BT 353.01 458.25 Td (The Committee has adopted investment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.45 Td (policy statements \(IPS\) for the pension and the other postretirement benefit plans) Tj ET Q q 0 0 0 rg BT 436.03 444.45 Td ( assets. ) Tj ET Q q 0 0 0 rg BT 474.15 444.45 Td (The investment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 430.65 Td (strategies for these plans include external management of plan assets, and prohibition of investments in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 416.85 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 416.85 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 416.85 Td (est securities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 403.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 389.25 Td (The overall strategy of the pension plan) Tj ET Q q 0 0 0 rg BT 271.36 389.25 Td (s IPS is to achieve an adequate level of trust assets relative to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.45 Td (the benefit obligations. ) Tj ET Q q 0 0 0 rg BT 160.76 375.45 Td (T) Tj ET Q q 0 0 0 rg BT 166.98 375.45 Td (o achieve this objective, the plan) Tj ET Q q 0 0 0 rg BT 320.90 375.45 Td (s investment policy provides for mixes of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 361.65 Td (investments including long-term fixed income assets and return-generating assets. ) Tj ET Q q 0 0 0 rg BT 432.22 361.65 Td (The tar) Tj ET Q q 0 0 0 rg BT 464.89 361.65 Td (get allocation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 347.85 Td (between return-generating and long-term fixed income assets is defined in the IPS and is a function of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.05 Td (plan) Tj ET Q q 0 0 0 rg BT 72.50 334.05 Td (s funded status. ) Tj ET Q q 0 0 0 rg BT 149.27 334.05 Td (The plan) Tj ET Q q 0 0 0 rg BT 193.02 334.05 Td (s funded status is reviewed on at least a monthly basis.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 320.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 306.45 Td (Long-term fixed income assets, also known as liability-hedging assets, are designed to of) Tj ET Q q 0 0 0 rg BT 495.37 306.45 Td (fset changes ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 292.65 Td (in the benefit obligations due to changes in interest rates. Long-term fixed income assets consist primarily of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 278.85 Td (fixed income debt securities issued by the U.S. ) Tj ET Q q 0 0 0 rg BT 267.75 278.85 Td (T) Tj ET Q q 0 0 0 rg BT 274.37 278.85 Td (reasury) Tj ET Q q 0 0 0 rg BT 307.47 278.85 Td (, other government agencies, and corporations. Long-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.05 Td (term fixed income assets may also include interest rate swaps, U.S. ) Tj ET Q q 0 0 0 rg BT 361.00 265.05 Td (T) Tj ET Q q 0 0 0 rg BT 367.62 265.05 Td (reasury futures and other instruments.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 251.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 237.45 Td (Return-generating assets are intended to provide a reasonable long-term rate of investment return with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.65 Td (a prudent level of volatility) Tj ET Q q 0 0 0 rg BT 173.94 223.65 Td (. Return-generating assets are composed of U.S. equities, international equities, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 209.85 Td (alternative investments. International equities include investments in both developed and emer) Tj ET Q q 0 0 0 rg BT 486.82 209.85 Td (ging markets. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.05 Td (Alternative investments include investments in real estate, private equity and various other strategies. ) Tj ET Q q 0 0 0 rg BT 521.31 196.05 Td (The plan ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.25 Td (may hold investments in return-generating assets by holding securities in partnerships and common and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.45 Td (collective trusts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 154.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 140.85 Td (Based on the IPS, and given the pension plan) Tj ET Q q 0 0 0 rg BT 296.63 140.85 Td (s funded status at year) Tj ET Q q 0 0 0 rg BT 398.59 140.85 Td (-end 2014, the long-term fixed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.05 Td (income assets had a tar) Tj ET Q q 0 0 0 rg BT 155.31 127.05 Td (get allocation of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.91 127.05 Td (58%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 253.99 127.05 Td ( with a permissible range of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 384.93 127.05 Td (55%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.01 127.05 Td ( to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.70 127.05 Td (61%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.78 127.05 Td ( and the return-generating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.25 Td (assets had a tar) Tj ET Q q 0 0 0 rg BT 118.59 113.25 Td (get allocation of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.19 113.25 Td (42%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 217.27 113.25 Td ( with a permissible range of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 348.21 113.25 Td (39%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.28 113.25 Td ( to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 383.98 113.25 Td (45%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.06 113.25 Td (. ) Tj ET Q q 0 0 0 rg BT 413.48 113.25 Td (The return-generating assets ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.45 Td (have additional tar) Tj ET Q q 0 0 0 rg BT 134.87 99.45 Td (get allocations, as a percent of total plan assets, of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 367.99 99.45 Td (22%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.07 99.45 Td ( equities in U.S. and other developed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.65 Td (markets, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 91.65 85.65 Td (6%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 106.98 85.65 Td ( equities in emer) Tj ET Q q 0 0 0 rg BT 183.10 85.65 Td (ging markets, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 268.06 85.65 Td (14%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 289.14 85.65 Td ( in alternative investments. ) Tj ET Q q 0 0 0 rg BT 418.59 85.65 Td (The pension plan IPS does not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 71.85 Td (provide for a specific mix of long-term fixed income assets, but does expect the average credit quality of such ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 227 0 obj <>] /Rotate 0 /Contents 228 0 R>> endobj 228 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.55 32.55 Td (1) Tj ET Q q 0 0 0 rg BT 302.87 32.55 Td (10) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (assets to be investment grade. ) Tj ET Q q 0 0 0 rg BT 191.63 721.05 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 219.74 721.05 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 310.11 721.05 Td (, long-term fixed income assets represented ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.89 721.05 Td (61%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 533.97 721.05 Td ( of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (total pension plan assets, and return-generating assets represented ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 354.48 707.25 Td (39%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 375.56 707.25 Td ( of total pension plan assets.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.65 Td (As of December 31, 2014, the asset allocation for other postretirement benefit plan assets is governed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (by the IPS for those plans, which provides for dif) Tj ET Q q 0 0 0 rg BT 276.07 665.85 Td (ferent asset allocation tar) Tj ET Q q 0 0 0 rg BT 391.13 665.85 Td (get mixes depending on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (characteristics of the liability) Tj ET Q q 0 0 0 rg BT 182.55 652.05 Td (. Some of these asset allocation tar) Tj ET Q q 0 0 0 rg BT 344.58 652.05 Td (get mixes vary with the plan) Tj ET Q q 0 0 0 rg BT 478.40 652.05 Td (s funded status. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 77.61 638.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 167.98 638.25 Td (, investment in fixed income assets represented ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.70 638.25 Td (43%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.78 638.25 Td ( of the other postretirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (benefit plan total assets, and non-fixed income assets represented ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 352.24 624.45 Td (57%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.32 624.45 Td ( of the other postretirement benefit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (plan) Tj ET Q q 0 0 0 rg BT 72.50 610.65 Td (s assets. Fixed income assets are primarily invested in corporate bonds of investment-grade U.S. issuers, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (and U.S. ) Tj ET Q q 0 0 0 rg BT 92.10 596.85 Td (T) Tj ET Q q 0 0 0 rg BT 98.72 596.85 Td (reasuries. Non-fixed income assets are primarily invested in lar) Tj ET Q q 0 0 0 rg BT 392.31 596.85 Td (ge cap U.S. equities in diverse ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (industries, and international equities in both emer) Tj ET Q q 0 0 0 rg BT 277.01 583.05 Td (ging and developed markets.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 569.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.45 Td (See Note 13 for a discussion on the fair value hierarchy and how fair value methodologies are applied. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (The plans invest directly in fixed income and equity securities, in addition to investing indirectly in fixed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (income securities, equity securities and real estate through the use of partnerships and common and collective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (trusts. Equity securities held directly by the plans are valued using quoted active market prices from the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (published exchange on which the equity security trades, and are classified as Level 1. Fixed income securities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.45 Td (issued by the U.S. ) Tj ET Q q 0 0 0 rg BT 135.54 486.45 Td (T) Tj ET Q q 0 0 0 rg BT 142.17 486.45 Td (reasury held directly by the plans are valued using quoted active market prices, and are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.65 Td (classified as Level 1. Fixed income securities issued by corporations, municipalities, and other agencies are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (primarily valued using quoted inactive market prices, or quoted active market prices for similar securities, or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.05 Td (by utilizing calculations which incorporate observable inputs such as yield, maturity and credit quality) Tj ET Q q 0 0 0 rg BT 519.50 445.05 Td (. ) Tj ET Q q 0 0 0 rg BT 527.92 445.05 Td (These ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (instruments are classified as Level 2.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 417.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 403.65 Td (The common and collective trusts, which are similar to mutual funds, are maintained by banks or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.85 Td (investment companies and hold certain investments in accordance with a stated set of objectives \(such as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.05 Td (tracking the performance of the S&P) Tj ET Q q 0 0 0 rg BT 218.65 376.05 Td ( 500 Index\). Common and collective trusts are valued using the concept ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.25 Td (of net asset value \(NA) Tj ET Q q 0 0 0 rg BT 155.95 362.25 Td (V\), which is a value derived from the quoted active market prices of the underlying ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.45 Td (securities. ) Tj ET Q q 0 0 0 rg BT 101.35 348.45 Td (The plans) Tj ET Q q 0 0 0 rg BT 149.35 348.45 Td ( common and collective real estate trust is valued using NA) Tj ET Q q 0 0 0 rg BT 421.89 348.45 Td (V) Tj ET Q q 0 0 0 rg BT 428.71 348.45 Td (, which is derived from the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.65 Td (appraised values of the trust) Tj ET Q q 0 0 0 rg BT 181.71 334.65 Td (s underlying real estate assets. ) Tj ET Q q 0 0 0 rg BT 325.75 334.65 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.86 334.65 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 444.23 334.65 Td (, the plans were able to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.85 Td (transact in the common and collective trusts at NA) Tj ET Q q 0 0 0 rg BT 281.15 320.85 Td (V) Tj ET Q q 0 0 0 rg BT 289.25 320.85 Td ( and accordingly classify these investments as Level 2. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.05 Td (Because the trust) Tj ET Q q 0 0 0 rg BT 131.25 307.05 Td (s shares are of) Tj ET Q q 0 0 0 rg BT 196.51 307.05 Td (fered to a limited group of investors, they are not considered to be traded in an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (active market.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.65 Td (Investments in partnerships are also valued using the concept of NA) Tj ET Q q 0 0 0 rg BT 397.64 265.65 Td (V) Tj ET Q q 0 0 0 rg BT 404.46 265.65 Td (, which is derived from the value ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.85 Td (of the partnerships' underlying assets. ) Tj ET Q q 0 0 0 rg BT 227.98 251.85 Td (The plan's partnerships holdings relate to investments in high-yield ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.05 Td (fixed income instruments and assets of privately held portfolio companies. Partnerships are classified as Level ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (2 if the plan is able to transact in the partnership at the NA) Tj ET Q q 0 0 0 rg BT 317.24 224.25 Td (V) Tj ET Q q 0 0 0 rg BT 324.06 224.25 Td (. ) Tj ET Q q 0 0 0 rg BT 332.05 224.25 Td (At December 31, 2014, certain partnerships have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.45 Td (been classified as Level 3 due to restrictions that limit the plan's ability to transact in these partnerships at the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.65 Td (NA) Tj ET Q q 0 0 0 rg BT 64.63 196.65 Td (V) Tj ET Q q 0 0 0 rg BT 71.45 196.65 Td (. Certain partnerships also include funding commitments that may require the plan to contribute up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.49 196.65 Td ($75 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.85 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 182.85 Td ( to these partnerhips; as of December 31, 2014, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 302.76 182.85 Td ($30 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 356.12 182.85 Td ( of these commitments have been funded. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 169.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 155.25 Td (The plans) Tj ET Q q 0 0 0 rg BT 133.51 155.25 Td ( trustee provides valuation of our plan assets by using pricing services that utilize ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.45 Td (methodologies described to determine fair market value. ) Tj ET Q q 0 0 0 rg BT 314.66 141.45 Td (W) Tj ET Q q 0 0 0 rg BT 324.60 141.45 Td (e have internal control procedures to ensure this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.65 Td (information is consistent with fair value accounting guidance. ) Tj ET Q q 0 0 0 rg BT 339.28 127.65 Td (These procedures include assessing valuations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.85 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 49.50 100.05 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 86.25 Td (and reviewing independent audit reports on the trustee) Tj ET Q q 0 0 0 rg BT 302.75 86.25 Td (s internal operating controls and valuation processes.) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 229 0 obj <>] /Rotate 0 /Contents 230 0 R>> endobj 230 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.80 32.55 Td (1) Tj ET Q q 0 0 0 rg BT 303.12 32.55 Td (1) Tj ET Q q 0 0 0 rg BT 308.45 32.55 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (The fair value of Pinnacle ) Tj ET Q q 0 0 0 rg BT 207.59 721.05 Td (W) Tj ET Q q 0 0 0 rg BT 217.52 721.05 Td (est) Tj ET Q q 0 0 0 rg BT 233.49 721.05 Td (s pension plan and other postretirement benefit plan assets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.87 707.25 Td (, by asset category) Tj ET Q q 0 0 0 rg BT 224.07 707.25 Td (, are as follows \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 622.95 195.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.00 622.95 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 622.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.00 622.95 61.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 622.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 622.95 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 622.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 622.95 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 622.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 622.95 61.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 595.95 195.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.00 595.95 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 595.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.00 595.95 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 595.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 595.95 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 595.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 595.95 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 595.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 595.95 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 567.95 195.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.00 567.95 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 567.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.00 567.95 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 567.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 567.95 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 567.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 567.95 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 567.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 567.95 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 539.95 195.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.00 539.95 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 539.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.00 539.95 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 539.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 539.95 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 539.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 539.95 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 539.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 539.95 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 511.95 195.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.00 511.95 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 455.95 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 427.95 195.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.00 427.95 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 427.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.00 427.95 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 427.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 427.95 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 427.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 427.95 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 427.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 427.95 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 398.95 195.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.00 398.95 60.00 -25.00 re f /GS0 gs 0.8 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163.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 163.95000000000005 m 370 163.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 163.95000000000005 m 498 163.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 163.95000000000005 m 563 163.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245 150.95000000000005 m 305 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245 148.95000000000005 m 305 148.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 150.95000000000005 m 370 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 148.95000000000005 m 370 148.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 163.95000000000005 m 434 163.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 150.95000000000005 m 434 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 148.95000000000005 m 434 148.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 150.95000000000005 m 498 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 148.95000000000005 m 498 148.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 150.95000000000005 m 563 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 148.95000000000005 m 563 148.95000000000005 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 625.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 250.35 667.18 Td (QuotedPrices) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 259.50 659.18 Td (in) Tj ET Q q 0 0 0 rg BT 267.73 659.18 Td (Active) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 254.00 651.18 Td (Marketsfor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 259.35 643.18 Td (Identical) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.80 635.18 Td (Assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 259.50 627.18 Td (\(Level1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.55 659.18 Td (Significant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.85 651.18 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.40 643.18 Td (Observable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.85 635.18 Td (Inputs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.00 627.18 Td (\(Level2\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.05 651.18 Td (Significant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 379.90 643.18 Td (Unobservable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.35 635.18 Td (Inputs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.50 627.18 Td (\(Level3\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.45 627.18 Td (Other\(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.10 643.18 Td (Balance at) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 508.75 635.18 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.00 627.18 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 613.68 Td (Pension Plan:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 301.50 612.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 366.50 612.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 430.50 612.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 494.50 612.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 612.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 600.52 Td (Assets:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 301.50 598.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 366.50 598.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 430.50 598.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 494.50 598.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 598.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 586.52 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.50 586.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 586.52 Td (387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 586.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 586.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.50 586.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 586.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 586.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 586.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 586.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 586.52 Td (387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 572.52 Td (Fixed Income Securities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 301.50 570.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 366.50 570.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 430.50 570.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 494.50 570.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 570.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 558.52 Td (Corporate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 558.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.10 558.52 Td (1,162,096) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 558.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 558.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 558.52 Td (1,162,096) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 544.52 Td (U.S. Treasury) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.65 544.52 Td (291,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 544.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 544.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 544.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 544.52 Td (291,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 530.52 Td (Other \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 530.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 530.52 Td (113,265) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 530.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 530.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 530.52 Td (113,265) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 516.52 Td (Equities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 301.50 514.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 366.50 514.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 430.50 514.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 494.50 514.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 514.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 502.52 Td (U.S. Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.65 502.52 Td (246,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 502.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 502.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 502.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 502.52 Td (246,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 488.52 Td (International Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.65 488.52 Td (18,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 488.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 488.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 488.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 488.52 Td (18,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 474.52 Td (Common and collective trusts:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 301.50 472.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 366.50 472.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 430.50 472.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 494.50 472.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 472.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 460.52 Td (U.S. Equities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 460.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 460.52 Td (127,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 460.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 460.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 460.52 Td (127,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 446.52 Td (International Equities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 446.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 446.52 Td (317,167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 446.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 446.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 446.52 Td (317,167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 432.52 Td (Real estate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 432.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 432.52 Td (129,715) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 432.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 432.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 432.52 Td (129,715) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 418.52 Td (Partnerships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 418.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 418.52 Td (138,337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 418.52 Td (27,929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 418.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 418.52 Td (166,266) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 404.52 Td (Short-term investments and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 403.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 403.62 Td (26,016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 403.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 403.62 Td (16,883) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 403.62 Td (42,899) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 389.52 Td (Total Pension Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.50 378.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.65 378.62 Td (556,660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 378.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.10 378.62 Td (2,013,932) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.50 378.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 378.62 Td (27,929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 378.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 378.62 Td (16,883) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 378.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 378.62 Td (2,615,404) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 364.68 Td (Other Benefits:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 301.50 363.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 366.50 363.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 430.50 363.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 494.50 363.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 363.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 351.52 Td (Assets:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 301.50 349.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 366.50 349.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 430.50 349.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 494.50 349.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 349.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 337.52 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.50 337.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 337.52 Td (318) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 337.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 337.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.50 337.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 337.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 337.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 337.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 337.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 337.52 Td (318) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 323.52 Td (Fixed Income Securities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 301.50 321.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 366.50 321.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 430.50 321.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 494.50 321.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 321.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 309.52 Td (Corporate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 309.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 309.52 Td (187,961) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 309.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 309.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 309.52 Td (187,961) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 295.52 Td (U.S. Treasury) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.65 295.52 Td (130,967) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 295.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 295.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 295.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 295.52 Td (130,967) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 281.52 Td (Other \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 281.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 281.52 Td (35,291) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 281.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 281.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 281.52 Td (35,291) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 267.52 Td (Equities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 301.50 265.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 366.50 265.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 430.50 265.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 494.50 265.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 265.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 253.52 Td (U.S. Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.65 253.52 Td (265,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 253.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 253.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 253.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 253.52 Td (265,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 239.52 Td (International Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.65 239.52 Td (17,813) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 239.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 239.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 239.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 239.52 Td (17,813) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 225.52 Td (Common and collective trusts:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 301.50 223.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 366.50 223.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 430.50 223.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 494.50 223.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 223.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 211.52 Td (U.S. Equities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 211.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 211.52 Td (88,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 211.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 211.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 211.52 Td (88,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 197.52 Td (International Equities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 197.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 197.52 Td (85,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 197.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 197.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 197.52 Td (85,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 183.52 Td (Real Estate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 183.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 183.52 Td (11,657) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 183.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 183.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 183.52 Td (11,657) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 169.52 Td (Short-term investments and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 168.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 168.62 Td (7,408) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 168.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 168.62 Td (4,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 168.62 Td (11,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 154.52 Td (Total Other Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.50 154.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.65 154.52 Td (414,204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 154.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 154.52 Td (416,321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.50 154.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 154.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 154.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 154.52 Td (4,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 154.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 154.52 Td (834,625) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 122.85 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 122.85 Td (This category consists primarily of debt securities issued by municipalities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 109.05 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 109.05 Td (Represents plan receivables and payables.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 81.45 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 231 0 obj <>] /Rotate 0 /Contents 232 0 R>> endobj 232 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.55 32.55 Td (1) Tj ET Q q 0 0 0 rg BT 302.87 32.55 Td (12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (The fair value of Pinnacle ) Tj ET Q q 0 0 0 rg BT 207.59 721.05 Td (W) Tj ET Q q 0 0 0 rg BT 217.52 721.05 Td (est) Tj ET Q q 0 0 0 rg BT 233.49 721.05 Td (s pension plan and other postretirement benefit plan assets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.87 707.25 Td (, by asset category) Tj ET Q q 0 0 0 rg BT 224.07 707.25 Td (, are as follows \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 636.75 172.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 636.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 636.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 636.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 636.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 636.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 636.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 636.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 636.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 636.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 609.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 609.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 609.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 609.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 609.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 609.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 609.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 609.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 609.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 609.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 581.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 581.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 581.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 581.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 581.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 581.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 581.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 581.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 581.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 581.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 553.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 553.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 553.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 553.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 553.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 553.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 553.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 553.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 553.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 553.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 525.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 525.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 525.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 525.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 525.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 525.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 525.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 525.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 525.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 525.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 497.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 497.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 497.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 497.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 497.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 497.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 497.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 497.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 497.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 497.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 469.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 469.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 469.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 469.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 469.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 469.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 469.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 469.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 469.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 469.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 441.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 441.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 441.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 441.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 441.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 441.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 441.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 441.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 441.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 441.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 413.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 413.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 413.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 413.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 413.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 413.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 413.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 413.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 413.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 413.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 384.75 172.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 384.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 384.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 384.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 384.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 384.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 384.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 384.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 384.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 384.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 357.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 357.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 357.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 357.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 357.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 357.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 357.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 357.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 357.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 357.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 329.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 329.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 329.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 329.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 329.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 329.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 329.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 329.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 329.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 329.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 301.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 301.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 301.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 301.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 301.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 301.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 301.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 301.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 301.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 301.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 273.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 273.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 273.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 273.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 273.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 273.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 273.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 273.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 273.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 273.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 245.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 245.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 245.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 245.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 245.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 245.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 245.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 245.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 245.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 245.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 217.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 217.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 217.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 217.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 217.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 217.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 217.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 217.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 217.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 217.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 189.75 172.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 189.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 189.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 189.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 189.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 189.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 189.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 189.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 189.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 189.75 65.00 -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 222 636.75 m 287 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 636.75 m 356 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 636.75 m 425 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 636.75 m 494 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 636.75 m 563 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 636.75 m 287 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 636.75 m 356 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 636.75 m 425 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 636.75 m 494 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 636.75 m 563 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 399.75 m 287 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 399.75 m 356 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 399.75 m 425 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 399.75 m 494 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 399.75 m 563 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 385.75 m 287 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 383.75 m 287 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 385.75 m 356 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 383.75 m 356 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 385.75 m 425 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 383.75 m 425 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 385.75 m 494 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 383.75 m 494 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 385.75 m 563 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 383.75 m 563 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 175.75 m 287 175.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 175.75 m 356 175.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 175.75 m 425 175.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 175.75 m 494 175.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 175.75 m 563 175.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 162.75 m 287 162.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 160.75 m 287 160.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 162.75 m 356 162.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 160.75 m 356 160.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 162.75 m 425 162.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 160.75 m 425 160.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 162.75 m 494 162.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 160.75 m 494 160.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 162.75 m 563 162.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 160.75 m 563 160.75 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 639.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 229.85 680.98 Td (QuotedPrices) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 239.00 672.98 Td (in) Tj ET Q q 0 0 0 rg BT 247.23 672.98 Td (Active) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 233.50 664.98 Td (Marketsfor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 238.85 656.98 Td (Identical) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 243.30 648.98 Td (Assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 239.00 640.98 Td (\(Level1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.55 672.98 Td (Significant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.85 664.98 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 303.40 656.98 Td (Observable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.85 648.98 Td (Inputs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 308.00 640.98 Td (\(Level2\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.55 664.98 Td (Significant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.40 656.98 Td (Unobservable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.85 648.98 Td (Inputs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.00 640.98 Td (\(Level3\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.95 640.98 Td (Other\(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.10 656.98 Td (Balance at) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.75 648.98 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.00 640.98 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 627.48 Td (Pension Plan:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 283.50 626.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 352.50 626.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 421.50 626.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 626.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 626.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 614.32 Td (Assets:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 283.50 612.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 352.50 612.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 421.50 612.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 612.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 612.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 600.32 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.50 600.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.15 600.32 Td (504) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.50 600.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 600.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 600.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 600.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 600.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 600.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 600.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 600.32 Td (504) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 586.32 Td (Fixed Income Securities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 283.50 584.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 352.50 584.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 421.50 584.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 584.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 584.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 572.32 Td (Corporate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 572.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 572.32 Td (898,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 572.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 572.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 572.32 Td (898,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 558.32 Td (U.S. Treasury) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.65 558.32 Td (231,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 558.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 558.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 558.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 558.32 Td (231,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 544.32 Td (Other \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 544.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.65 544.32 Td (84,011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 544.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 544.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 544.32 Td (84,011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 530.32 Td (Equities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 283.50 528.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 352.50 528.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 421.50 528.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 528.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 528.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 516.32 Td (U.S. Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.65 516.32 Td (239,036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 516.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 516.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 516.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 516.32 Td (239,036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 502.32 Td (International Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.65 502.32 Td (19,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 502.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 502.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 502.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 502.32 Td (19,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 488.32 Td (Common and collective trusts:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 283.50 486.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 352.50 486.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 421.50 486.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 486.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 486.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 474.32 Td (U.S. Equities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 474.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 474.32 Td (116,150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 474.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 474.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 474.32 Td (116,150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 460.32 Td (International Equities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 460.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 460.32 Td (367,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 460.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 460.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 460.32 Td (367,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 446.32 Td (Fixed Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 446.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 446.32 Td (137,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 446.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 446.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 446.32 Td (137,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 432.32 Td (Real estate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 432.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 432.32 Td (119,739) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 432.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 432.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 432.32 Td (119,739) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 418.32 Td (Partnerships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 418.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 418.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 418.32 Td (8,660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 418.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 418.32 Td (8,660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 404.32 Td (Short-term investments and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 404.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.65 404.32 Td (41,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 404.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 404.32 Td (250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 404.32 Td (41,310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 390.32 Td (Total Pension Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.50 389.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.65 389.42 Td (490,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.50 389.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 389.42 Td (1,764,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 389.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 389.42 Td (8,660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 389.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 389.42 Td (250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 389.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 389.42 Td (2,264,121) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 375.48 Td (Other Benefits:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 283.50 374.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 352.50 374.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 421.50 374.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 374.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 374.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 362.32 Td (Assets:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 283.50 360.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 352.50 360.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 421.50 360.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 360.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 360.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 348.32 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 348.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.50 348.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 348.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 348.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 348.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 334.32 Td (Fixed Income Securities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 283.50 332.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 352.50 332.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 421.50 332.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 332.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 332.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 320.32 Td (Corporate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.50 320.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 320.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.50 320.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 320.32 Td (153,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 320.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 320.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 320.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 320.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 320.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 320.32 Td (153,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 306.32 Td (U.S. Treasury) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.65 306.32 Td (98,704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 306.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 306.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 306.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 306.32 Td (98,704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 292.32 Td (Other \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 292.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.65 292.32 Td (27,936) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 292.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 292.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 292.32 Td (27,936) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 278.32 Td (Equities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 283.50 276.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 352.50 276.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 421.50 276.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 276.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 276.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 264.32 Td (U.S. Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.65 264.32 Td (252,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 264.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 264.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 264.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 264.32 Td (252,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 250.32 Td (International Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.65 250.32 Td (20,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 250.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 250.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 250.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 250.32 Td (20,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 236.32 Td (Common and collective trusts:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 283.50 234.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 352.50 234.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 421.50 234.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 234.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 234.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 222.32 Td (U.S. Equities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 222.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.65 222.32 Td (80,751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 222.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 222.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 222.32 Td (80,751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 208.32 Td (International Equities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 208.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.65 208.32 Td (92,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 208.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 208.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 208.32 Td (92,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 194.32 Td (Real Estate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 194.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.65 194.32 Td (10,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 194.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 194.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 194.32 Td (10,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 180.32 Td (Short-term investments and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 180.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 180.32 Td (8,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 180.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 180.32 Td (2,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 180.32 Td (10,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 166.32 Td (Total Other Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.50 166.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.65 166.32 Td (371,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.50 166.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 166.32 Td (374,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 166.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 166.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 166.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 166.32 Td (2,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 166.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 166.32 Td (748,339) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 128.65 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 128.65 Td (This category consists primarily of debt securities issued by municipalities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 114.85 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 114.85 Td (Represents plan receivables and payables.) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 233 0 obj <>] /Rotate 0 /Contents 234 0 R>> endobj 234 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.55 32.55 Td (1) Tj ET Q q 0 0 0 rg BT 302.87 32.55 Td (13) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (The following table shows the changes in fair value for assets that are measured at fair value on a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (recurring basis using significant unobservable inputs \(Level 3\) for the year ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 426.34 707.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 516.71 707.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 539.06 707.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 562.06 707.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (\(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 658.95 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 658.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 658.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 658.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 658.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 630.95 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 630.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 630.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 630.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 630.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 602.95 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 602.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 602.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 602.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 602.95 58.00 -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 443 670.95 m 501 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 670.95 m 505 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 670.95 m 563 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 658.95 m 439 658.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 670.95 m 501 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 658.95 m 501 658.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 670.95 m 505 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 670.95 m 563 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 658.95 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 443 658.95 m 501 658.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 658.95 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 443 588.95 m 501 588.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 588.95 m 563 588.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 588.95 m 501 588.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 575.95 m 501 575.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 573.95 m 501 573.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 588.95 m 563 588.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 575.95 m 563 575.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 573.95 m 563 573.95 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 673.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.15 675.03 Td (Pension) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 663.03 Td (Partnerships) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.50 663.03 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.50 663.03 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 649.52 Td (Beginning balance at January1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 649.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 649.52 Td (8,660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 649.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 649.52 Td (2,419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 635.52 Td (Actual return on assets still held at December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 635.52 Td (927) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 635.57 Td (\(498) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 635.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 621.52 Td (Purchases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 621.52 Td (19,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 621.52 Td (7,377) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 607.52 Td (Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 607.57 Td (\(1,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 607.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 607.57 Td (\(638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 607.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 593.52 Td (Transfers in and/or out of Level 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 593.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 593.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 579.52 Td (Ending balance at December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 579.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 579.52 Td (27,929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 579.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 579.52 Td (8,660) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 561.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (Contributions) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 520.25 Td (Future year contribution amounts are dependent on plan asset performance and plan actuarial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (assumptions. ) Tj ET Q q 0 0 0 rg BT 114.78 506.45 Td (W) Tj ET Q q 0 0 0 rg BT 124.72 506.45 Td (e made contributions to our pension plan totaling ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.40 506.45 Td ($175 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 412.51 506.45 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 427.20 506.45 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 450.20 506.45 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 455.95 506.45 Td ($141 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 515.05 506.45 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 529.75 506.45 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 552.75 506.45 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 68.98 492.65 Td ($65 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.33 492.65 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 137.03 492.65 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 160.03 492.65 Td (. ) Tj ET Q q 0 0 0 rg BT 168.44 492.65 Td (The minimum contributions for the pension plan are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 411.81 492.65 Td (zero) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.60 492.65 Td ( for the next three years. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 478.85 Td (e expect to make voluntary contributions totaling up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 314.62 478.85 Td ($300 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.72 478.85 Td ( for the next three years \(up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 515.50 478.85 Td ($100 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.05 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 465.05 Td ( each year in 2015, 2016, and 2017\). ) Tj ET Q q 0 0 0 rg BT 256.25 465.05 Td (W) Tj ET Q q 0 0 0 rg BT 266.64 465.05 Td (ith regard to contributions to our other postretirement benefit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.25 Td (plans, we made a contribution of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 203.11 451.25 Td ($1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 250.72 451.25 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 265.41 451.25 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 288.41 451.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.16 451.25 Td ($14 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 347.51 451.25 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.21 451.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 385.21 451.25 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.44 451.25 Td ($23 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.79 451.25 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 478.48 451.25 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 501.48 451.25 Td (. ) Tj ET Q q 0 0 0 rg BT 509.90 451.25 Td (W) Tj ET Q q 0 0 0 rg BT 519.83 451.25 Td (e expect ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td (to make contributions of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 234.42 437.45 Td ($1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 282.02 437.45 Td ( in each of the next three years to our other postretirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (benefit plans. ) Tj ET Q q 0 0 0 rg BT 116.57 423.65 Td (APS funds its share of the contributions. ) Tj ET Q q 0 0 0 rg BT 307.91 423.65 Td (APS) Tj ET Q q 0 0 0 rg BT 332.21 423.65 Td (s share of the pension plan contribution was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 537.25 423.65 Td ($175 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 409.85 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 97.42 409.85 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 120.42 409.85 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 126.17 409.85 Td ($140 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 185.27 409.85 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 199.97 409.85 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 222.97 409.85 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 248.20 409.85 Td ($64 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 301.55 409.85 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 316.25 409.85 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 339.25 409.85 Td (. ) Tj ET Q q 0 0 0 rg BT 347.24 409.85 Td (APS) Tj ET Q q 0 0 0 rg BT 371.53 409.85 Td (s share of the contributions to the other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (postretirement benefit plan was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 197.04 396.05 Td ($1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 244.64 396.05 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 259.34 396.05 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 282.34 396.05 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 288.09 396.05 Td ($14 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 341.44 396.05 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 356.13 396.05 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 379.13 396.05 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.36 396.05 Td ($22 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 457.71 396.05 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.41 396.05 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 495.41 396.05 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 Td (Estimated Futur) Tj ET Q q 0 0 0 rg BT 130.75 368.45 Td (e Benefit Payments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 340.85 Td (Benefit payments, which reflect estimated future employee service, for the next five years and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.05 Td (succeeding five years thereafter) Tj ET Q q 0 0 0 rg BT 194.94 327.05 Td (, are estimated to be as follows \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 304.55 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 304.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 304.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 304.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 304.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 276.55 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 276.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 276.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 276.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 276.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 248.55 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 248.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 248.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 248.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 248.55 58.00 -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 50 304.54999999999995 m 439 304.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 304.54999999999995 m 501 304.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 304.54999999999995 m 563 304.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 304.54999999999995 m 439 304.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 304.54999999999995 m 501 304.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 304.54999999999995 m 563 304.54999999999995 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 308.63 Td (Year) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.15 308.63 Td (Pension) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 508.55 308.63 Td (OtherBenefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 295.12 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 295.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 295.12 Td (139,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 295.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 295.12 Td (25,134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 281.12 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 281.12 Td (155,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 281.12 Td (27,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 267.12 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 267.12 Td (160,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 267.12 Td (29,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 253.12 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 253.12 Td (167,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 253.12 Td (31,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 239.12 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 239.12 Td (177,470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 239.12 Td (33,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 225.12 Td (Years 2020-2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 225.12 Td (983,557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 225.12 Td (184,772) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 207.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 193.45 Td (Electric plant participants contribute to the above amounts in accordance with their respective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 179.65 Td (participation agreements.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 152.05 Td (Employee Savings Plan Benefits) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 138.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 124.45 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 124.45 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 124.45 Td (est sponsors a defined contribution savings plan for eligible employees of Pinnacle ) Tj ET Q q 0 0 0 rg BT 521.39 124.45 Td (W) Tj ET Q q 0 0 0 rg BT 531.32 124.45 Td (est ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 110.65 Td (and its subsidiaries. In 2014, costs related to ) Tj ET Q q 0 0 0 rg BT 258.07 110.65 Td (APS) Tj ET Q q 0 0 0 rg BT 282.36 110.65 Td (s employees represented ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 397.64 110.65 Td (99%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 418.72 110.65 Td ( of the total cost of this plan. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 96.85 Td (In a defined contribution savings plan, the benefits a participant receives result from regular contributions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 83.05 Td (participants make to their own individual account, the Company) Tj ET Q q 0 0 0 rg BT 348.11 83.05 Td (s matching contributions and earnings or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 69.25 Td (losses on their investments. Under this plan, the Company matches a percentage of the participants) Tj ET Q q 0 0 0 rg BT 510.13 69.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 55.45 Td (contributions in cash which is then invested in the same investment mix as participants elect to invest their own ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 235 0 obj <>] /Rotate 0 /Contents 236 0 R>> endobj 236 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.55 32.55 Td (1) Tj ET Q q 0 0 0 rg BT 302.87 32.55 Td (14) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (future contributions. Pinnacle ) Tj ET Q q 0 0 0 rg BT 191.42 721.05 Td (W) Tj ET Q q 0 0 0 rg BT 201.35 721.05 Td (est recorded expenses for this plan of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 444.69 721.05 Td ($9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 492.29 721.05 Td ( for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 511.45 721.05 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 534.45 721.05 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.20 721.05 Td ($9 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 707.25 Td ( for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 101.89 707.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 124.89 707.25 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 150.12 707.25 Td ($8 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 197.72 707.25 Td ( for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 216.88 707.25 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 239.88 707.25 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (8.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 679.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.88 679.65 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 88.75 679.65 Td (Leases) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 652.05 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 652.05 Td (e lease certain vehicles, land, buildings, equipment and miscellaneous other items through operating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (rental agreements with varying terms, provisions and expiration dates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.65 Td (T) Tj ET Q q 0 0 0 rg BT 91.72 610.65 Td (otal lease expense recognized in the Consolidated Statements of Income was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 447.16 610.65 Td ($18 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.51 610.65 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 515.21 610.65 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 538.21 610.65 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.96 610.65 Td ($18 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 596.85 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 97.42 596.85 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 120.42 596.85 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 145.65 596.85 Td ($19 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 199.00 596.85 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 213.70 596.85 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 236.70 596.85 Td (. ) Tj ET Q q 0 0 0 rg BT 244.69 596.85 Td (APS) Tj ET Q q 0 0 0 rg BT 268.98 596.85 Td (s lease expense was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.87 596.85 Td ($15 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 416.22 596.85 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.91 596.85 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 453.91 596.85 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.66 596.85 Td ($15 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 513.01 596.85 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.71 596.85 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 550.71 596.85 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 68.98 583.05 Td ($16 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.33 583.05 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 137.03 583.05 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 160.03 583.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 569.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.45 Td (Estimated future minimum lease payments for Pinnacle ) Tj ET Q q 0 0 0 rg BT 343.66 555.45 Td (W) Tj ET Q q 0 0 0 rg BT 353.60 555.45 Td (est) Tj ET Q q 0 0 0 rg BT 369.57 555.45 Td (s and ) Tj ET Q q 0 0 0 rg BT 395.76 555.45 Td (APS) Tj ET Q q 0 0 0 rg BT 420.06 555.45 Td (s operating leases, excluding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (purchased power agreements, are approximately as follows \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 511.15 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 511.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 511.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 511.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 511.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 483.15 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 483.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 483.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 483.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 483.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 455.15 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 455.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 455.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 455.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 455.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 427.15 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 427.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 427.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 427.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 427.15 58.00 -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 50 511.15 m 439 511.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 511.15 m 501 511.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 511.15 m 563 511.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 511.15 m 439 511.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 511.15 m 501 511.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 511.15 m 563 511.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 427.15 m 501 427.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 427.15 m 563 427.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 427.15 m 501 427.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 414.15 m 501 414.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 412.15 m 501 412.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 427.15 m 563 427.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 414.15 m 563 414.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 412.15 m 563 412.15 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 515.38 Td (Year) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 447.45 523.23 Td (Pinnacle) Tj ET Q q 0 0 0 rg BT 478.64 523.23 Td (W) Tj ET Q q 0 0 0 rg BT 486.20 523.23 Td (est) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.05 515.23 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.90 515.38 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 501.72 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 501.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 501.72 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 501.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 501.72 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 487.72 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 487.72 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 487.72 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 473.72 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 473.72 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 473.72 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 459.72 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 459.72 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 459.72 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 445.72 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 445.72 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 445.72 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 431.72 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 431.72 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 431.72 Td (62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 417.72 Td (Total future lease commitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 417.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 417.72 Td (99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 417.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 417.72 Td (95) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 399.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 386.05 Td (In 1986, ) Tj ET Q q 0 0 0 rg BT 126.07 386.05 Td (APS entered into agreements with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 286.08 386.05 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 309.06 386.05 Td ( separate lessor trust entities in order to sell and lease ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 372.25 Td (back interests in Palo ) Tj ET Q q 0 0 0 rg BT 150.22 372.25 Td (V) Tj ET Q q 0 0 0 rg BT 157.25 372.25 Td (erde Unit 2 and related common facilities. ) Tj ET Q q 0 0 0 rg BT 356.63 372.25 Td (These lessor trust entities have been deemed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 358.45 Td (VIEs for which ) Tj ET Q q 0 0 0 rg BT 122.64 358.45 Td (APS is the primary beneficiary) Tj ET Q q 0 0 0 rg BT 264.33 358.45 Td (. ) Tj ET Q q 0 0 0 rg BT 272.32 358.45 Td (As the primary beneficiary) Tj ET Q q 0 0 0 rg BT 395.16 358.45 Td (, ) Tj ET Q q 0 0 0 rg BT 400.27 358.45 Td (APS consolidated these lessor trust ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 344.65 Td (entities. ) Tj ET Q q 0 0 0 rg BT 91.13 344.65 Td (The impacts of these sale leaseback transactions are excluded from our lease disclosures as lease ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 330.85 Td (accounting is eliminated upon consolidation. See Note 18 for a discussion of ) Tj ET Q q 0 0 0 rg BT 407.65 330.85 Td (VIEs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 317.05 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 237 0 obj <>] /Rotate 0 /Contents 238 0 R>> endobj 238 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.55 32.55 Td (1) Tj ET Q q 0 0 0 rg BT 302.87 32.55 Td (15) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 721.25 Td (9.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 721.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 80.63 721.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 83.50 721.25 Td (Jointly-Owned Facilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.65 Td (APS shares ownership of some of its generating and transmission facilities with other companies. ) Tj ET Q q 0 0 0 rg BT 539.47 693.65 Td (W) Tj ET Q q 0 0 0 rg BT 549.40 693.65 Td (e ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.85 Td (are responsible for our share of operating costs, as well as for providing our own financing. Our share of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.05 Td (operating expenses and utility plant costs related to these facilities is accounted for using proportional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.25 Td (consolidation. ) Tj ET Q q 0 0 0 rg BT 119.88 652.25 Td (The following table shows ) Tj ET Q q 0 0 0 rg BT 244.46 652.25 Td (APS) Tj ET Q q 0 0 0 rg BT 268.75 652.25 Td (s interests in those jointly-owned facilities recorded on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.45 Td (Consolidated Balance Sheets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 197.05 638.45 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 287.42 638.45 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 586.15 231.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 586.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 586.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 586.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 586.15 30.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 586.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 586.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 586.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 586.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 586.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 586.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 558.15 231.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 558.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 558.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 558.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 558.15 30.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 558.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 558.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 558.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 558.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 558.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 558.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 530.15 231.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 530.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 530.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 530.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 530.15 30.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 530.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 530.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 530.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 530.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 530.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 530.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 502.15 231.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 502.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 502.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 502.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 502.15 30.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 502.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 502.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 502.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 502.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 502.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 502.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 474.15 231.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 474.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 474.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 474.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 474.15 30.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 474.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 474.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 474.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 474.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 474.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 474.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 446.15 231.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 446.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 446.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 446.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 446.15 30.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 446.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 446.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 446.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 446.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 446.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 446.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 418.15 231.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 418.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 418.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 418.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 418.15 30.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 418.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 418.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 418.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 418.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 418.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 418.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 390.15 231.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 390.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 390.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 390.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 390.15 30.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 390.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 390.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 390.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 390.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 390.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 390.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 362.15 231.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 362.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 362.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 362.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 362.15 30.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 362.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 362.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 362.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 362.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 362.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 362.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 334.15 231.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 334.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 334.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 334.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 334.15 30.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 334.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 334.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 334.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 334.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 334.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 334.15 58.00 -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 285 586.15 m 343 586.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 586.15 m 439 586.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 586.15 m 501 586.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 586.15 m 563 586.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 586.15 m 343 586.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 586.15 m 439 586.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 586.15 m 501 586.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 586.15 m 563 586.15 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 588.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 300.45 598.38 Td (Per) Tj ET Q q 0 0 0 rg BT 312.29 598.38 Td (cent) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.25 590.38 Td (Owned) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 361.50 588.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.05 598.38 Td (Plantin) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.05 590.38 Td (Service) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.80 598.38 Td (Accumulated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.55 590.38 Td (Depr) Tj ET Q q 0 0 0 rg BT 466.73 590.38 Td (eciation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.05 606.23 Td (Construction) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.35 598.23 Td (W) Tj ET Q q 0 0 0 rg BT 526.91 598.23 Td (orkin) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 518.75 590.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 527.04 590.23 Td (ogr) Tj ET Q q 0 0 0 rg BT 538.45 590.23 Td (ess) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 576.72 Td (Generating facilities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 339.50 574.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 361.50 574.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 435.50 574.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 497.50 574.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 574.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 562.72 Td (Palo Verde Units 1 and 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 562.72 Td (29.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 562.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 562.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.10 562.72 Td (1,734,918) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 562.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.10 562.72 Td (1,051,670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 562.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 562.72 Td (16,955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 548.72 Td (Palo Verde Unit 2 \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 548.72 Td (16.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 548.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 548.72 Td (556,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 548.72 Td (349,960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 548.72 Td (13,710) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 534.72 Td (Palo Verde Common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 534.72 Td (28.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 534.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 534.72 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 534.72 Td (612,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 534.72 Td (224,208) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 534.72 Td (68,896) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 520.72 Td (Palo Verde Sale Leaseback) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 339.50 518.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.95 520.72 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 520.72 Td (351,050) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 520.72 Td (229,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 520.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 506.72 Td (Four Corners Generating Station) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 506.72 Td (63.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 506.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 506.72 Td (811,648) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 506.72 Td (578,772) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 506.72 Td (33,150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 492.72 Td (Navajo Generating Station Units 1, 2 and 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 492.72 Td (14.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 492.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 492.72 Td (272,208) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 492.72 Td (159,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 492.72 Td (2,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 478.72 Td (Cholla common facilities \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 478.72 Td (63.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 478.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 478.72 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 478.72 Td (155,856) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 478.72 Td (49,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 478.72 Td (866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 464.72 Td (Transmission facilities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 339.50 462.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 361.50 462.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 435.50 462.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 497.50 462.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 462.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 450.72 Td (ANPP 500kV System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 450.72 Td (33.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 450.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.40 450.72 Td ( \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 450.72 Td (106,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 450.72 Td (35,035) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 450.72 Td (3,731) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 436.72 Td (Navajo Southern System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 436.72 Td (22.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 436.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 436.72 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 436.72 Td (59,994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 436.72 Td (18,119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 436.72 Td (1,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 422.72 Td (Palo Verde Yuma 500kV System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 422.72 Td (18.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 422.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 422.72 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 422.72 Td (12,925) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 422.72 Td (4,943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 422.72 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 408.72 Td (Four Corners Switchyards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 408.72 Td (47.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 408.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.40 408.72 Td ( \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 408.72 Td (33,034) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 408.72 Td (10,035) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 408.72 Td (386) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 394.72 Td (Phoenix Mead System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 394.72 Td (17.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 394.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 394.72 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 394.72 Td (39,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 394.72 Td (12,843) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 394.72 Td (105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 380.72 Td (Palo Verde Estrella 500kV System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 380.72 Td (50.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 380.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 380.72 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 380.72 Td (89,572) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 380.72 Td (16,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 380.72 Td (736) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 366.72 Td (Morgan Pinnacle Peak System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 366.72 Td (64.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 366.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.40 366.72 Td ( \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 366.72 Td (130,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 366.72 Td (8,970) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 366.72 Td (1,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 352.72 Td (Round Valley System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 352.72 Td (50.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 352.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 352.72 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 352.72 Td (497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 352.72 Td (276) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 352.72 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 338.72 Td (Palo Verde Morgan System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 338.72 Td (90.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 338.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 338.72 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 338.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 338.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 338.72 Td (69,377) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 324.72 Td (Hassayampa - North Gila System) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 324.72 Td (80.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 324.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 324.72 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 324.72 Td (8,902) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 324.72 Td (3,634) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 324.72 Td (142,645) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 287.05 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 287.05 Td (See Note 18.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 273.25 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 273.25 Td (W) Tj ET Q q 0 0 0 rg BT 113.43 273.25 Td (eighted-average of interests.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 259.45 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 259.45 Td (PacifiCorp owns Cholla Unit 4 and ) Tj ET Q q 0 0 0 rg BT 267.69 259.45 Td (APS operates the unit for PacifiCorp. ) Tj ET Q q 0 0 0 rg BT 445.07 259.45 Td (The common facilities at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 245.65 Td (Cholla are jointly-owned.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 231.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 218.05 Td (10.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.88 218.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.38 218.05 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 89.25 218.05 Td (Commitments and Contingencies) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 204.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 190.45 Td (Palo ) Tj ET Q q 0 0 0 rg BT 73.89 190.45 Td (V) Tj ET Q q 0 0 0 rg BT 81.14 190.45 Td (erde Nuclear) Tj ET Q q 0 0 0 rg BT 144.47 190.45 Td ( Generating Station) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 176.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 162.85 Td (Spent Nuclear) Tj ET Q q 0 0 0 rg BT 155.25 162.85 Td ( Fuel and ) Tj ET Q q 0 0 0 rg BT 203.93 162.85 Td (W) Tj ET Q q 0 0 0 rg BT 214.79 162.85 Td (aste Disposal) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 149.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 135.25 Td (On December19, 2012, ) Tj ET Q q 0 0 0 rg BT 197.92 135.25 Td (APS, acting on behalf of itself and the participant owners of Palo ) Tj ET Q q 0 0 0 rg BT 500.16 135.25 Td (V) Tj ET Q q 0 0 0 rg BT 507.19 135.25 Td (erde, filed a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 121.45 Td (breach of contract lawsuit against the DOE in the United States Court of Federal Claims. ) Tj ET Q q 0 0 0 rg BT 463.52 121.45 Td (The lawsuit seeks to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 107.65 Td (recover damages incurred due to DOE) Tj ET Q q 0 0 0 rg BT 229.28 107.65 Td (s breach of the Standard Contract for failing to accept Palo ) Tj ET Q q 0 0 0 rg BT 502.10 107.65 Td (V) Tj ET Q q 0 0 0 rg BT 509.13 107.65 Td (erde spent ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 93.85 Td (nuclear fuel and high level waste from January1, 2007 through June30, 201) Tj ET Q q 0 0 0 rg BT 401.97 93.85 Td (1, as it was required to do ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 80.05 Td (pursuant to the terms of the Standard Contract and the NWP) Tj ET Q q 0 0 0 rg BT 325.66 80.05 Td (A. On ) Tj ET Q q 0 0 0 rg BT 358.89 80.05 Td (August 18, 2014, ) Tj ET Q q 0 0 0 rg BT 440.36 80.05 Td (APS and DOE entered ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 66.25 Td (into a settlement agreement, stipulating to a dismissal of the lawsuit and payment of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 438.83 66.25 Td ($57.4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.80 66.25 Td ( by DOE to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 52.45 Td (the Palo ) Tj ET Q q 0 0 0 rg BT 89.54 52.45 Td (V) Tj ET Q q 0 0 0 rg BT 96.57 52.45 Td (erde owners for certain specified costs incurred by Palo ) Tj ET Q q 0 0 0 rg BT 354.70 52.45 Td (V) Tj ET Q q 0 0 0 rg BT 361.73 52.45 Td (erde during the period January 1, 2007 ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 239 0 obj <>] /Rotate 0 /Contents 240 0 R>> endobj 240 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.55 32.55 Td (1) Tj ET Q q 0 0 0 rg BT 302.87 32.55 Td (16) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (through June 30, 201) Tj ET Q q 0 0 0 rg BT 146.18 721.05 Td (1. ) Tj ET Q q 0 0 0 rg BT 159.92 721.05 Td (APS) Tj ET Q q 0 0 0 rg BT 184.21 721.05 Td (s share of this amount is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 298.56 721.05 Td ($16.7 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 360.54 721.05 Td (. ) Tj ET Q q 0 0 0 rg BT 368.53 721.05 Td (Amounts recovered in the lawsuit and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (settlement were recorded as adjustments to a regulatory liability and had no impact on current income. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (addition, the settlement agreement provides ) Tj ET Q q 0 0 0 rg BT 252.61 693.45 Td (APS with a method for submitting claims and getting recovery for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (costs incurred through 2016.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 652.05 Td (Nuclear) Tj ET Q q 0 0 0 rg BT 124.25 652.05 Td ( Insurance) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.45 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 49.50 610.65 Td (Industries Indemnity ) Tj ET Q q 0 0 0 rg BT 147.24 610.65 Td (Act \(Price-Anderson ) Tj ET Q q 0 0 0 rg BT 250.07 610.65 Td (Act\), 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 49.50 596.85 Td (amount of insurance available from both commercial sources and an industry retrospective payment plan. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (accordance with the Price-Anderson ) Tj ET Q q 0 0 0 rg BT 218.74 583.05 Td (Act, the Palo ) Tj ET Q q 0 0 0 rg BT 281.14 583.05 Td (V) Tj ET Q q 0 0 0 rg BT 288.17 583.05 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 49.50 569.25 Td (nuclear incident up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 152.33 569.25 Td ($13.6 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 211.11 569.25 Td ( per occurrence. Palo ) Tj ET Q q 0 0 0 rg BT 313.71 569.25 Td (V) Tj ET Q q 0 0 0 rg BT 320.74 569.25 Td (erde maintains the maximum available nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td (liability insurance in the amount of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 213.66 555.45 Td ($375 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 272.76 555.45 Td (, which is provided by commercial insurance carriers. ) Tj ET Q q 0 0 0 rg BT 525.15 555.45 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (remaining balance of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 149.44 541.65 Td ($13.2 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 208.22 541.65 Td ( of liability coverage is provided through a mandatory industry-wide ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (retrospective assessment program. If losses at any nuclear power plant covered by the program exceed the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (accumulated funds, ) Tj ET Q q 0 0 0 rg BT 141.15 514.05 Td (APS could be assessed retrospective premium adjustments. ) Tj ET Q q 0 0 0 rg BT 419.14 514.05 Td (The maximum retrospective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (premium assessment per reactor under the program for each nuclear liability incident is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 523.40 500.25 Td ($127.3 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.45 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 486.45 Td (, subject to an annual limit of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 220.06 486.45 Td ($19 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 273.41 486.45 Td ( per incident, to be periodically adjusted for inflation. Based ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.65 Td (on ) Tj ET Q q 0 0 0 rg BT 63.24 472.65 Td (APS) Tj ET Q q 0 0 0 rg BT 87.53 472.65 Td (s ownership interest in the three Palo ) Tj ET Q q 0 0 0 rg BT 260.11 472.65 Td (V) Tj ET Q q 0 0 0 rg BT 267.14 472.65 Td (erde units, ) Tj ET Q q 0 0 0 rg BT 317.29 472.65 Td (APS) Tj ET Q q 0 0 0 rg BT 341.58 472.65 Td (s maximum potential retrospective premium ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (assessment per incident for all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 191.61 458.85 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.60 458.85 Td ( units is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 322.56 458.85 Td ($1) Tj ET Q q 0 0 0 rg BT 333.63 458.85 Td (1) Tj ET Q q 0 0 0 rg BT 338.96 458.85 Td (1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.81 458.85 Td (, with a maximum annual retrospective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.05 Td (premium assessment of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 229.63 445.05 Td ($16.5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 291.61 445.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 417.45 Td (The Palo ) Tj ET Q q 0 0 0 rg BT 129.37 417.45 Td (V) Tj ET Q q 0 0 0 rg BT 136.40 417.45 Td (erde participants maintain all risk \(including nuclear hazards\) insurance for property ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.65 Td (damage to, and decontamination of, property at Palo ) Tj ET Q q 0 0 0 rg BT 293.28 403.65 Td (V) Tj ET Q q 0 0 0 rg BT 300.31 403.65 Td (erde in the aggregate amount of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 449.11 403.65 Td ($2.75 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.89 403.65 Td (, a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.85 Td (substantial portion of which must first be applied to stabilization and decontamination. ) Tj ET Q q 0 0 0 rg BT 453.21 389.85 Td (APS has also secured ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.05 Td (insurance against portions of any increased cost of replacement generation or purchased power and business ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.25 Td (interruption resulting from a sudden and unforeseen accidental outage of any of the three units. ) Tj ET Q q 0 0 0 rg BT 492.23 362.25 Td (The property ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.45 Td (damage, decontamination, and replacement power coverages are provided by Nuclear Electric Insurance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.65 Td (Limited \(NEIL\). ) Tj ET Q q 0 0 0 rg BT 140.83 334.65 Td (APS is subject to retrospective premium assessments under all NEIL) Tj ET Q q 0 0 0 rg BT 456.92 334.65 Td ( policies if NEIL) Tj ET Q q 0 0 0 rg BT 533.47 334.65 Td () Tj ET Q q 0 0 0 rg BT 536.67 334.65 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.85 Td (losses in any policy year exceed accumulated funds. ) Tj ET Q q 0 0 0 rg BT 295.18 320.85 Td (The maximum amount ) Tj ET Q q 0 0 0 rg BT 402.19 320.85 Td (APS could incur under the current ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.05 Td (NEIL) Tj ET Q q 0 0 0 rg BT 75.26 307.05 Td ( policies totals approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 213.87 307.05 Td ($20 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 267.22 307.05 Td ( for each retrospective premium assessment declared by NEIL) Tj ET Q q 0 0 0 rg BT 552.28 307.05 Td () Tj ET Q q 0 0 0 rg BT 555.48 307.05 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (Board of Directors due to losses. In addition, NEIL) Tj ET Q q 0 0 0 rg BT 287.65 293.25 Td ( policies contain rating triggers that would result in ) Tj ET Q q 0 0 0 rg BT 524.96 293.25 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.45 Td (providing approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 166.39 279.45 Td ($53 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 219.75 279.45 Td ( of collateral assurance within ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 360.57 279.45 Td (20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 372.07 279.45 Td ( business days of a rating downgrade to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.65 Td (non-investment grade. ) Tj ET Q q 0 0 0 rg BT 157.88 265.65 Td (The insurance coverage discussed in this and the previous paragraph is subject to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.85 Td (certain policy conditions, sublimits and exclusions.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 238.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (Fuel and Pur) Tj ET Q q 0 0 0 rg BT 113.83 224.25 Td (chased Power) Tj ET Q q 0 0 0 rg BT 181.01 224.25 Td ( Commitments and Pur) Tj ET Q q 0 0 0 rg BT 296.12 224.25 Td (chase Obligations) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 196.65 Td (APS is party to purchase obligations and various fuel and purchased power contracts with terms ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.85 Td (expiring between 2015 and 2043 that include required purchase provisions. ) Tj ET Q q 0 0 0 rg BT 400.81 182.85 Td (APS estimates the contract ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.05 Td (requirements to be approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 207.26 169.05 Td ($723 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 266.36 169.05 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 281.06 169.05 Td (2015) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 304.06 169.05 Td (; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 310.13 169.05 Td ($747 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.23 169.05 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 383.92 169.05 Td (2016) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.92 169.05 Td (; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 412.99 169.05 Td ($630 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.09 169.05 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 486.79 169.05 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 509.79 169.05 Td (; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 515.86 169.05 Td ($610 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.25 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 155.25 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 97.42 155.25 Td (2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 120.42 155.25 Td (; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 126.49 155.25 Td ($583 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 185.59 155.25 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 200.29 155.25 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 223.29 155.25 Td (; and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 248.84 155.25 Td ($8.2 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 301.87 155.25 Td ( thereafter) Tj ET Q q 0 0 0 rg BT 348.16 155.25 Td (. However) Tj ET Q q 0 0 0 rg BT 398.47 155.25 Td (, these amounts may vary ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.45 Td (significantly pursuant to certain provisions in such contracts that permit us to decrease required purchases ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.65 Td (under certain circumstances.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 113.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 100.05 Td (Of the various fuel and purchased power contracts mentioned above, some of those contracts for coal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.25 Td (supply include take-or) Tj ET Q q 0 0 0 rg BT 152.10 86.25 Td (-pay provisions. ) Tj ET Q q 0 0 0 rg BT 231.75 86.25 Td (The current coal contracts with take-or) Tj ET Q q 0 0 0 rg BT 410.01 86.25 Td (-pay provisions have terms ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.45 Td (expiring through 2031.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 58.65 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 241 0 obj <>] /Rotate 0 /Contents 242 0 R>> endobj 242 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.55 32.55 Td (1) Tj ET Q q 0 0 0 rg BT 302.87 32.55 Td (17) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (The following table summarizes our estimated coal take-or) Tj ET Q q 0 0 0 rg BT 356.39 721.05 Td (-pay commitments \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 670.75 162.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 670.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 670.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 670.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 670.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 670.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 670.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 670.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 670.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 670.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 670.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 670.75 55.00 -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 212 682.75 m 267 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 682.75 m 271 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 682.75 m 326 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 682.75 m 330 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 682.75 m 385 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 682.75 m 389 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 682.75 m 444 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 682.75 m 448 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 682.75 m 503 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 682.75 m 507 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 682.75 m 562 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 670.75 m 267 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 670.75 m 326 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 670.75 m 385 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 670.75 m 444 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 670.75 m 503 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 670.75 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 212 670.75 m 267 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 670.75 m 326 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 670.75 m 385 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 670.75 m 444 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 670.75 m 503 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 670.75 m 562 670.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 686.98 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.70 686.98 Td (Years Ended December 31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 673.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 231.00 674.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 290.00 674.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.00 674.83 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.00 674.83 Td (2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.00 674.83 Td (2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.70 674.83 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 661.32 Td (Coal take-or-pay commitments \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.50 661.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 661.32 Td (151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.50 661.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 661.32 Td (171) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.50 661.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.15 661.32 Td (195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 661.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 661.32 Td (190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 661.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 661.32 Td (194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.50 661.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 661.32 Td (2,469) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 629.65 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 629.65 Td (T) Tj ET Q q 0 0 0 rg BT 109.72 629.65 Td (otal take-or) Tj ET Q q 0 0 0 rg BT 162.18 629.65 Td (-pay commitments are approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 337.18 629.65 Td ($3.4 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 390.21 629.65 Td (. ) Tj ET Q q 0 0 0 rg BT 398.63 629.65 Td (The total net present value of these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 615.85 Td (commitments is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 248.83 615.85 Td ($2.2 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 301.86 615.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 602.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 588.25 Td (APS may spend more to meet its actual fuel requirements than the minimum purchase obligations in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.45 Td (our coal take-or) Tj ET Q q 0 0 0 rg BT 122.07 574.45 Td (-pay contracts. ) Tj ET Q q 0 0 0 rg BT 192.43 574.45 Td (The following table summarizes actual payments under the coal contracts which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.65 Td (include take-or) Tj ET Q q 0 0 0 rg BT 118.56 560.65 Td (-pay provisions for each of the last three years \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.85 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 512.35 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 512.35 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 512.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 512.35 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 512.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 512.35 65.00 -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 359 524.35 m 424 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 524.35 m 428 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 524.35 m 493 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 524.35 m 497 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 524.35 m 562 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 524.35 m 424 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 512.35 m 424 512.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 524.35 m 428 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 524.35 m 493 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 512.35 m 493 512.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 524.35 m 497 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 524.35 m 562 524.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 512.35 m 562 512.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 512.35 m 424 512.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 512.35 m 493 512.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 512.35 m 562 512.35 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 527.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.70 528.43 Td (YearEndedDecember31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 515.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 516.43 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 516.43 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 516.43 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 502.92 Td (Total payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 502.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 502.92 Td (237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 502.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 502.92 Td (188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 502.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 502.92 Td (196) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 485.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 471.25 Td (Renewable Energy Cr) Tj ET Q q 0 0 0 rg BT 157.89 471.25 Td (edits) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 457.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 443.65 Td (APS has entered into contracts to purchase renewable ener) Tj ET Q q 0 0 0 rg BT 354.81 443.65 Td (gy credits to comply with the RES. ) Tj ET Q q 0 0 0 rg BT 521.23 443.65 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 429.85 Td (estimates the contract requirements to be approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 309.76 429.85 Td ($46 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.11 429.85 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 377.81 429.85 Td (2015) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.81 429.85 Td (; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.88 429.85 Td ($42 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 460.23 429.85 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 474.93 429.85 Td (2016) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 497.93 429.85 Td (; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 504.00 429.85 Td ($42 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.35 429.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 416.05 Td (in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 61.32 416.05 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 84.32 416.05 Td (; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 90.39 416.05 Td ($42 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 143.74 416.05 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 158.44 416.05 Td (2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 181.44 416.05 Td (; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 187.51 416.05 Td ($42 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 240.86 416.05 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 255.55 416.05 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 278.55 416.05 Td (; and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 304.10 416.05 Td ($448 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.21 416.05 Td ( thereafter) Tj ET Q q 0 0 0 rg BT 409.49 416.05 Td (. ) Tj ET Q q 0 0 0 rg BT 417.91 416.05 Td (These amounts do not include ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 402.25 Td (purchases of renewable ener) Tj ET Q q 0 0 0 rg BT 179.88 402.25 Td (gy credits that are bundled with ener) Tj ET Q q 0 0 0 rg BT 347.64 402.25 Td (gy) Tj ET Q q 0 0 0 rg BT 358.40 402.25 Td (. ) Tj ET Q q 0 0 0 rg BT 366.39 402.25 Td (Also, these amounts do not include ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 388.45 Td (purchases of renewable ener) Tj ET Q q 0 0 0 rg BT 179.88 388.45 Td (gy credits that are associated with purchased power contracts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 374.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 360.85 Td (Coal Mine Reclamation Obligations) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 347.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 333.25 Td (APS must reimburse certain coal providers for amounts incurred for final and contemporaneous coal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 319.45 Td (mine reclamation. ) Tj ET Q q 0 0 0 rg BT 138.07 319.45 Td (W) Tj ET Q q 0 0 0 rg BT 148.00 319.45 Td (e account for contemporaneous reclamation costs as part of the cost of the delivered coal. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 305.65 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 305.65 Td (e utilize site-specific studies of costs expected to be incurred in the future to estimate our final reclamation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 291.85 Td (obligation. ) Tj ET Q q 0 0 0 rg BT 104.55 291.85 Td (These studies utilize various assumptions to estimate the future costs. Based on the most recent ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 278.05 Td (reclamation studies, ) Tj ET Q q 0 0 0 rg BT 143.72 278.05 Td (APS recorded an obligation for the coal mine final reclamation of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 520.87 278.05 Td ($198 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 264.25 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 264.25 Td ( at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 96.78 264.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 187.15 264.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 209.50 264.25 Td ($207 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 268.61 264.25 Td ( at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 282.66 264.25 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.03 264.25 Td (. Under our current coal supply ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 250.45 Td (agreements, we expect to make payments to certain coal providers for the final mine reclamation as follows: ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 236.65 Td ($1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 97.10 236.65 Td ( in 2015; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 140.87 236.65 Td ($15 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 194.22 236.65 Td ( in 2016; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 237.98 236.65 Td ($17 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 291.34 236.65 Td ( in 2017; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 335.10 236.65 Td ($18 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 388.45 236.65 Td ( in 2018; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 432.22 236.65 Td ($19 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 485.57 236.65 Td ( in 2019; and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 222.85 Td ($281 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 108.60 222.85 Td ( thereafter) Tj ET Q q 0 0 0 rg BT 154.89 222.85 Td (. ) Tj ET Q q 0 0 0 rg BT 162.88 222.85 Td (Any amendments to current coal supply agreements may change the timing of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 209.05 Td (reimbursement.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 181.45 Td (Superfund-Related Matters) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 167.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 153.85 Td (Superfund establishes liability for the cleanup of hazardous substances found contaminating the soil, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 140.05 Td (water or air) Tj ET Q q 0 0 0 rg BT 101.86 140.05 Td (. ) Tj ET Q q 0 0 0 rg BT 110.28 140.05 Td (Those who generated, transported or disposed of hazardous substances at a contaminated site are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 126.25 Td (among those who are PRPs. PRPs may be strictly) Tj ET Q q 0 0 0 rg BT 279.39 126.25 Td (, and often are jointly and severally) Tj ET Q q 0 0 0 rg BT 441.19 126.25 Td (, liable for clean-up. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 112.45 Td (September3, 2003, EP) Tj ET Q q 0 0 0 rg BT 154.17 112.45 Td (A) Tj ET Q q 0 0 0 rg BT 161.84 112.45 Td ( advised ) Tj ET Q q 0 0 0 rg BT 202.09 112.45 Td (APS that EP) Tj ET Q q 0 0 0 rg BT 258.54 112.45 Td (A) Tj ET Q q 0 0 0 rg BT 266.21 112.45 Td ( considers ) Tj ET Q q 0 0 0 rg BT 314.76 112.45 Td (APS to be a PRP) Tj ET Q q 0 0 0 rg BT 392.30 112.45 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 481.10 117.66 Td (nd) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.57 112.45 Td (Street ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 98.65 Td (Superfund Site, OU3 in Phoenix, ) Tj ET Q q 0 0 0 rg BT 203.79 98.65 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 248.82 98.65 Td (APS has facilities that are within this Superfund site. ) Tj ET Q q 0 0 0 rg BT 497.01 98.65 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 84.85 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 84.85 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 84.85 Td (est have agreed with EP) Tj ET Q q 0 0 0 rg BT 211.14 84.85 Td (A) Tj ET Q q 0 0 0 rg BT 218.81 84.85 Td ( to perform certain investigative activities of the ) Tj ET Q q 0 0 0 rg BT 442.35 84.85 Td (APS facilities within ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 71.05 Td (OU3. In addition, on September23, 2009, ) Tj ET Q q 0 0 0 rg BT 248.18 71.05 Td (APS agreed with EP) Tj ET Q q 0 0 0 rg BT 341.35 71.05 Td (A) Tj ET Q q 0 0 0 rg BT 349.02 71.05 Td ( and one other PRP) Tj ET Q q 0 0 0 rg BT 437.40 71.05 Td ( to voluntarily assist with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 57.25 Td (the funding and management of the site-wide groundwater remedial investigation and feasibility study work ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 243 0 obj <>] /Rotate 0 /Contents 244 0 R>> endobj 244 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.55 32.55 Td (1) Tj ET Q q 0 0 0 rg BT 302.87 32.55 Td (18) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (plan. ) Tj ET Q q 0 0 0 rg BT 77.72 721.05 Td (W) Tj ET Q q 0 0 0 rg BT 87.65 721.05 Td (e estimate that 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 479.85 721.05 Td ($2 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.45 721.05 Td (. ) Tj ET Q q 0 0 0 rg BT 535.87 721.05 Td (W) Tj ET Q q 0 0 0 rg BT 545.81 721.05 Td (e ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (anticipate incurring additional expenditures in the future, but because the overall investigation is not complete ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (and ultimate remediation requirements are not yet finalized, at the present time expenditures related to this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (matter cannot be reasonably estimated.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 652.05 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 652.05 Td (August6, 2013, RID filed a lawsuit in ) Tj ET Q q 0 0 0 rg BT 280.04 652.05 Td (Arizona District Court against ) Tj ET Q q 0 0 0 rg BT 421.21 652.05 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.66 652.05 Td (24) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 476.16 652.05 Td ( other defendants, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (alleging that RID) Tj ET Q q 0 0 0 rg BT 132.54 638.25 Td (s groundwater wells were contaminated by the release of hazardous substances from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (facilities owned or operated by the defendants. ) Tj ET Q q 0 0 0 rg BT 269.95 624.45 Td (The lawsuit also alleges that, under Superfund laws, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (defendants are jointly and severally liable to RID. ) Tj ET Q q 0 0 0 rg BT 284.34 610.65 Td (The allegations against ) Tj ET Q q 0 0 0 rg BT 392.60 610.65 Td (APS arise out of ) Tj ET Q q 0 0 0 rg BT 470.55 610.65 Td (APS) Tj ET Q q 0 0 0 rg BT 494.84 610.65 Td (s current and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (former ownership of facilities in and around OU3. ) Tj ET Q q 0 0 0 rg BT 286.26 596.85 Td (W) Tj ET Q q 0 0 0 rg BT 296.19 596.85 Td (e are unable to predict the outcome of this matter; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (however) Tj ET Q q 0 0 0 rg BT 88.63 583.05 Td (, we do not expect the outcome to have a material impact on our financial position, results of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (operations or cash flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (Southwest Power) Tj ET Q q 0 0 0 rg BT 133.94 541.65 Td ( Outage) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 514.05 Td (Regulatory) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 137.89 514.05 Td (. On September8, 201) Tj ET Q q 0 0 0 rg BT 243.82 514.05 Td (1 at approximately 3:30 PM, a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 386.60 514.05 Td (500) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 403.85 514.05 Td ( kV) Tj ET Q q 0 0 0 rg BT 420.57 514.05 Td ( transmission line running ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (between the Hassayampa and North Gila substations in southwestern ) Tj ET Q q 0 0 0 rg BT 369.21 500.25 Td (Arizona tripped out of service due to a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.45 Td (fault that occurred at a switchyard operated by ) Tj ET Q q 0 0 0 rg BT 265.36 486.45 Td (APS. ) Tj ET Q q 0 0 0 rg BT 294.45 486.45 Td (Approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 366.95 486.45 Td (ten) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 381.00 486.45 Td ( minutes after the transmission line ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.65 Td (went of) Tj ET Q q 0 0 0 rg BT 84.10 472.65 Td (f-line, generation and transmission resources for the ) Tj ET Q q 0 0 0 rg BT 325.74 472.65 Td (Y) Tj ET Q q 0 0 0 rg BT 332.77 472.65 Td (uma area were lost, resulting in approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (69,700) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 81.13 458.85 Td ( ) Tj ET Q q 0 0 0 rg BT 83.37 458.85 Td (APS customers losing service.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 445.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 431.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.89 431.25 Td (ithin the same time period that ) Tj ET Q q 0 0 0 rg BT 238.34 431.25 Td (APS) Tj ET Q q 0 0 0 rg BT 262.63 431.25 Td (s ) Tj ET Q q 0 0 0 rg BT 269.56 431.25 Td (Y) Tj ET Q q 0 0 0 rg BT 276.59 431.25 Td (uma customers lost service, a series of transmission and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.45 Td (generation disruptions occurred across the systems of several utilities that resulted in outages af) Tj ET Q q 0 0 0 rg BT 489.06 417.45 Td (fecting portions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.65 Td (of southern ) Tj ET Q q 0 0 0 rg BT 103.80 403.65 Td (Arizona, southern California and northern Mexico. ) Tj ET Q q 0 0 0 rg BT 343.00 403.65 Td (A) Tj ET Q q 0 0 0 rg BT 350.67 403.65 Td ( total of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 458.62 403.65 Td (7,900) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 484.49 403.65 Td ( MW) Tj ET Q q 0 0 0 rg BT 508.24 403.65 Td ( of firm ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.85 Td (load and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 91.65 389.85 Td (2.7 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 142.13 389.85 Td ( customers were reported to have been af) Tj ET Q q 0 0 0 rg BT 330.63 389.85 Td (fected. Service to all af) Tj ET Q q 0 0 0 rg BT 439.62 389.85 Td (fected ) Tj ET Q q 0 0 0 rg BT 469.95 389.85 Td (APS customers was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.05 Td (restored by 9:15 PM on September8. Service to customers af) Tj ET Q q 0 0 0 rg BT 334.82 376.05 Td (fected by the wider regional outages was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.25 Td (restored by approximately 3:25 ) Tj ET Q q 0 0 0 rg BT 195.77 362.25 Td (AM on September9.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 334.65 Td (FERC and NERC conducted a joint inquiry into the outages and, on May1, 2012, they issued a report ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.85 Td (\(the Joint Report\) with their analysis and conclusions as to the causes of the events. ) Tj ET Q q 0 0 0 rg BT 448.83 320.85 Td (The report included ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.05 Td (recommendations to help industry operators prevent similar outages in the future, including increased data ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (sharing and coordination among the western utilities and entities responsible for bulk electric system reliability ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.45 Td (coordination. ) Tj ET Q q 0 0 0 rg BT 116.04 279.45 Td (The Joint Report did not address potential reliability violations or an assessment of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.65 Td (responsibility of the parties involved.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 251.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 238.05 Td (On January22, 2014, following non-public preliminary investigations, FERC Staf) Tj ET Q q 0 0 0 rg BT 463.48 238.05 Td (f issued a Notice of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (Alleged ) Tj ET Q q 0 0 0 rg BT 88.57 224.25 Td (V) Tj ET Q q 0 0 0 rg BT 96.19 224.25 Td (iolations naming ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 176.04 224.25 Td (six) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 189.46 224.25 Td ( entities involved in the event, including ) Tj ET Q q 0 0 0 rg BT 376.63 224.25 Td (APS. FERC Staf) Tj ET Q q 0 0 0 rg BT 456.31 224.25 Td (f alleged that each of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.45 Td (the named entities violated varying numbers of NERC Reliability Standards. ) Tj ET Q q 0 0 0 rg BT 407.22 210.45 Td (APS was alleged to have violated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.65 Td (seven) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 75.68 196.65 Td ( Reliability Standard Requirements. ) Tj ET Q q 0 0 0 rg BT 246.03 196.65 Td (The allegations of violations were preliminary determinations by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.85 Td (FERC Staf) Tj ET Q q 0 0 0 rg BT 99.45 182.85 Td (f and did not constitute findings by FERC itself that any violations had occurred.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 169.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 155.25 Td (On July7, 2014, FERC approved a Stipulation and Consent ) Tj ET Q q 0 0 0 rg BT 362.77 155.25 Td (Agreement among FERC) Tj ET Q q 0 0 0 rg BT 482.87 155.25 Td (s Of) Tj ET Q q 0 0 0 rg BT 502.15 155.25 Td (fice of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.45 Td (Enforcement, NERC and ) Tj ET Q q 0 0 0 rg BT 167.03 141.45 Td (APS which resolves all civil and administrative disputes within the jurisdiction of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.65 Td (FERC concerning the September8 event, including FERC) Tj ET Q q 0 0 0 rg BT 321.63 127.65 Td (s and NERC) Tj ET Q q 0 0 0 rg BT 382.33 127.65 Td (s investigations. In the settlement, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.85 Td (APS neither admitted nor denied alleged violations of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 299.90 113.85 Td (four) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 319.05 113.85 Td ( Reliability Standard Requirements. ) Tj ET Q q 0 0 0 rg BT 488.98 113.85 Td (APS agreed to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.05 Td (pay a civil penalty of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 149.45 100.05 Td ($3.25 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 211.43 100.05 Td (, of which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 260.61 100.05 Td ($2 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 308.22 100.05 Td ( is to be paid in equal parts to the Department of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.25 Td (T) Tj ET Q q 0 0 0 rg BT 56.12 86.25 Td (reasury and NERC and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 165.34 86.25 Td ($1.25 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 227.32 86.25 Td ( will be credited as a partial civil penalty of) Tj ET Q q 0 0 0 rg BT 426.70 86.25 Td (fset in exchange for ) Tj ET Q q 0 0 0 rg BT 519.94 86.25 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.45 Td (completing certain reliability enhancements.) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 245 0 obj <>] /Rotate 0 /Contents 246 0 R>> endobj 246 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.55 32.55 Td (1) Tj ET Q q 0 0 0 rg BT 302.87 32.55 Td (19) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 707.45 Td (Litigation. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 140.77 707.45 Td (On September6, 2013, a purported consumer class action complaint was filed in Federal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.65 Td (District Court in San Diego, California, naming ) Tj ET Q q 0 0 0 rg BT 270.85 693.65 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 356.57 693.65 Td (W) Tj ET Q q 0 0 0 rg BT 366.51 693.65 Td (est as defendants and seeking damages for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.85 Td (loss of perishable inventory and sales as a result of interruption of electrical service. ) Tj ET Q q 0 0 0 rg BT 441.02 679.85 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 526.74 679.85 Td (W) Tj ET Q q 0 0 0 rg BT 536.67 679.85 Td (est ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.05 Td (filed a motion to dismiss, which the court granted on December9, 2013. On January13, 2014, the plaintif) Tj ET Q q 0 0 0 rg BT 539.87 666.05 Td (fs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.25 Td (appealed the lower court) Tj ET Q q 0 0 0 rg BT 166.05 652.25 Td (s decision. ) Tj ET Q q 0 0 0 rg BT 220.14 652.25 Td (The appeal is now fully briefed and pending before the Ninth Circuit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.45 Td (Court of ) Tj ET Q q 0 0 0 rg BT 90.39 638.45 Td (Appeals. ) Tj ET Q q 0 0 0 rg BT 136.49 638.45 Td (W) Tj ET Q q 0 0 0 rg BT 146.43 638.45 Td (e are unable to predict the outcome of this matter) Tj ET Q q 0 0 0 rg BT 371.56 638.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 610.85 Td (Clean ) Tj ET Q q 0 0 0 rg BT 80.49 610.85 Td (Air) Tj ET Q q 0 0 0 rg BT 96.89 610.85 Td ( ) Tj ET Q q 0 0 0 rg BT 99.13 610.85 Td (Act Citizen Lawsuit) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 597.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 583.25 Td (On October4, 201) Tj ET Q q 0 0 0 rg BT 170.67 583.25 Td (1, Earthjustice, on behalf of several environmental or) Tj ET Q q 0 0 0 rg BT 415.39 583.25 Td (ganizations, filed a lawsuit in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.45 Td (the United States District Court for the District of New Mexico against ) Tj ET Q q 0 0 0 rg BT 377.83 569.45 Td (APS and the other Four Corners ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.65 Td (participants alleging violations of the NSR provisions of the Clean ) Tj ET Q q 0 0 0 rg BT 358.05 555.65 Td (Air ) Tj ET Q q 0 0 0 rg BT 375.62 555.65 Td (Act. Subsequent to filing its original ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.85 Td (Complaint, on January6, 2012, Earthjustice filed a First ) Tj ET Q q 0 0 0 rg BT 310.13 541.85 Td (Amended Complaint adding claims for violations of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 528.05 Td (the Clean ) Tj ET Q q 0 0 0 rg BT 95.49 528.05 Td (Air ) Tj ET Q q 0 0 0 rg BT 113.06 528.05 Td (Act) Tj ET Q q 0 0 0 rg BT 132.86 528.05 Td (s NSPS program. ) Tj ET Q q 0 0 0 rg BT 217.53 528.05 Td (Among other things, the environmental plaintif) Tj ET Q q 0 0 0 rg BT 434.51 528.05 Td (fs seek to have the court ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.25 Td (enjoin operations at Four Corners until ) Tj ET Q q 0 0 0 rg BT 230.29 514.25 Td (APS applies for and obtains any required NSR permits and complies ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.45 Td (with the NSPS. ) Tj ET Q q 0 0 0 rg BT 125.66 500.45 Td (The plaintif) Tj ET Q q 0 0 0 rg BT 179.42 500.45 Td (fs further request the court to order the payment of civil penalties, including a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.65 Td (beneficial mitigation project. On ) Tj ET Q q 0 0 0 rg BT 204.71 486.65 Td (April2, 2012, ) Tj ET Q q 0 0 0 rg BT 271.48 486.65 Td (APS and the other Four Corners participants filed motions to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.85 Td (dismiss. ) Tj ET Q q 0 0 0 rg BT 92.43 472.85 Td (The case is being held in abeyance while the parties seek to negotiate a settlement. On March30, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 459.05 Td (2013, upon joint motion of the parties, the court issued an order deeming the motions to dismiss withdrawn ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.25 Td (without prejudice during pendency of the stay) Tj ET Q q 0 0 0 rg BT 260.17 445.25 Td (. ) Tj ET Q q 0 0 0 rg BT 268.16 445.25 Td (At such time as the stay is lifted, ) Tj ET Q q 0 0 0 rg BT 420.52 445.25 Td (APS and the other Four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.45 Td (Corners participants may reinstate their motions to dismiss. ) Tj ET Q q 0 0 0 rg BT 328.45 431.45 Td (W) Tj ET Q q 0 0 0 rg BT 338.38 431.45 Td (e are unable to predict the outcome of this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.65 Td (matter) Tj ET Q q 0 0 0 rg BT 78.24 417.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 403.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 390.05 Td (Envir) Tj ET Q q 0 0 0 rg BT 77.41 390.05 Td (onmental Matters) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 362.45 Td (APS is subject to numerous environmental laws and regulations af) Tj ET Q q 0 0 0 rg BT 390.95 362.45 Td (fecting many aspects of its present ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.65 Td (and future operations, including air emissions, water quality) Tj ET Q q 0 0 0 rg BT 325.01 348.65 Td (, wastewater dischar) Tj ET Q q 0 0 0 rg BT 418.36 348.65 Td (ges, solid waste, hazardous ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.85 Td (waste, and CCRs. ) Tj ET Q q 0 0 0 rg BT 136.82 334.85 Td (These laws and regulations can change from time to time, imposing new obligations on ) Tj ET Q q 0 0 0 rg BT 540.84 334.85 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.05 Td (resulting in increased capital, operating, and other costs. ) Tj ET Q q 0 0 0 rg BT 313.29 321.05 Td (Associated capital expenditures or operating costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.25 Td (could be material. ) Tj ET Q q 0 0 0 rg BT 137.32 307.25 Td (APS intends to seek recovery of any such environmental compliance costs through our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.45 Td (rates, but cannot predict whether it will obtain such recovery) Tj ET Q q 0 0 0 rg BT 327.86 293.45 Td (. ) Tj ET Q q 0 0 0 rg BT 336.28 293.45 Td (The following proposed and final rulesinvolve ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.65 Td (material compliance costs to ) Tj ET Q q 0 0 0 rg BT 182.99 279.65 Td (APS.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.85 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 252.05 Td (Regional Haze Rules.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 184.83 252.05 Td ( ) Tj ET Q q 0 0 0 rg BT 189.95 252.05 Td (APS has received the final rulemaking imposing new requirements on Four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.25 Td (Corners, Cholla and the Navajo Plant. EP) Tj ET Q q 0 0 0 rg BT 242.32 238.25 Td (A) Tj ET Q q 0 0 0 rg BT 249.99 238.25 Td ( and ) Tj ET Q q 0 0 0 rg BT 271.71 238.25 Td (ADEQ will require these plants to install pollution control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.45 Td (equipment that constitutes the BAR) Tj ET Q q 0 0 0 rg BT 212.99 224.45 Td (T) Tj ET Q q 0 0 0 rg BT 219.80 224.45 Td ( to lessen the impacts of emissions on visibility surrounding the plants. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.65 Td (Based on EP) Tj ET Q q 0 0 0 rg BT 107.22 210.65 Td (A) Tj ET Q q 0 0 0 rg BT 114.25 210.65 Td () Tj ET Q q 0 0 0 rg BT 117.45 210.65 Td (s final standards, ) Tj ET Q q 0 0 0 rg BT 197.30 210.65 Td (APS estimates that its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.80 210.65 Td (63%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 321.88 210.65 Td ( share of the cost of these controls for Four Corners ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.85 Td (Units 4 and 5 would be at least ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 194.51 196.85 Td ($350 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 253.61 196.85 Td (. In addition, ) Tj ET Q q 0 0 0 rg BT 317.49 196.85 Td (APS and El Paso entered into an asset purchase ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 183.05 Td (agreement providing for the purchase by ) Tj ET Q q 0 0 0 rg BT 238.55 183.05 Td (APS, or an af) Tj ET Q q 0 0 0 rg BT 300.31 183.05 Td (filiate of ) Tj ET Q q 0 0 0 rg BT 341.82 183.05 Td (APS, of El Paso's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 425.37 183.05 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 440.70 183.05 Td ( interest in Four Corners ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.25 Td (Units 4 and 5, which would increase our share of the cost of these controls by approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 478.73 169.25 Td ($40) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 495.98 169.25 Td ( million. ) Tj ET Q q 0 0 0 rg BT 540.07 169.25 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.45 Td (estimates that its share of costs for upgrades at the Navajo Plant, based on EP) Tj ET Q q 0 0 0 rg BT 404.55 155.45 Td (A) Tj ET Q q 0 0 0 rg BT 411.58 155.45 Td () Tj ET Q q 0 0 0 rg BT 414.78 155.45 Td (s FIP) Tj ET Q q 0 0 0 rg BT 438.32 155.45 Td ( proposal, could be up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.65 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 141.65 Td ($200 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.90 141.65 Td (. In October 2014, a coalition of environmental groups, an Indian tribe and others ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.85 Td (filed petitions for review in the United States Court of ) Tj ET Q q 0 0 0 rg BT 300.54 127.85 Td (Appeals for the Ninth Circuit asking the Court to review ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 114.05 Td (EP) Tj ET Q q 0 0 0 rg BT 61.87 114.05 Td (A's final BAR) Tj ET Q q 0 0 0 rg BT 126.50 114.05 Td (T) Tj ET Q q 0 0 0 rg BT 133.32 114.05 Td ( rule for the Navajo Plant. ) Tj ET Q q 0 0 0 rg BT 258.30 114.05 Td (W) Tj ET Q q 0 0 0 rg BT 268.23 114.05 Td (e cannot predict the outcome of this review process. ) Tj ET Q q 0 0 0 rg BT 512.53 114.05 Td (As ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.25 Td (described under "Regional Haze Rules - Cholla" below) Tj ET Q q 0 0 0 rg BT 302.45 100.25 Td (, ) Tj ET Q q 0 0 0 rg BT 307.56 100.25 Td (APS filed a Petition for Review of EP) Tj ET Q q 0 0 0 rg BT 481.23 100.25 Td (A) Tj ET Q q 0 0 0 rg BT 488.26 100.25 Td () Tj ET Q q 0 0 0 rg BT 491.46 100.25 Td (s ruleas it ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.45 Td (applies to Cholla, which, if not successful, would require installation of SCR controls with a cost to ) Tj ET Q q 0 0 0 rg BT 509.45 86.45 Td (APS of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.65 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 72.65 Td ($200 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.90 72.65 Td (. However) Tj ET Q q 0 0 0 rg BT 231.09 72.65 Td (, in September 2014, ) Tj ET Q q 0 0 0 rg BT 328.83 72.65 Td (APS met with EP) Tj ET Q q 0 0 0 rg BT 408.61 72.65 Td (A) Tj ET Q q 0 0 0 rg BT 416.28 72.65 Td ( to propose a compromise ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.85 Td (BAR) Tj ET Q q 0 0 0 rg BT 72.46 58.85 Td (T) Tj ET Q q 0 0 0 rg BT 79.27 58.85 Td ( strategy wherein, pending certain regulatory approvals, ) Tj ET Q q 0 0 0 rg BT 338.26 58.85 Td (APS would permanently close Cholla Unit 2 by ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 247 0 obj <>] /Rotate 0 /Contents 248 0 R>> endobj 248 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (120) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (April 2016 and cease burning coal at Units 1 and 3 by the mid-2020s. \(See Note 3 for details related to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (resulting regulatory asset.\) ) Tj ET Q q 0 0 0 rg BT 179.81 707.25 Td (APS made the proposal with the understanding that additional emission control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (equipment is unlikely to be required in the future because retiring and converting the units as contemplated in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (the proposal is more cost ef) Tj ET Q q 0 0 0 rg BT 176.08 679.65 Td (fective than, and will result in increased visibility improvement over) Tj ET Q q 0 0 0 rg BT 490.52 679.65 Td (, the current ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (BAR) Tj ET Q q 0 0 0 rg BT 72.46 665.85 Td (T) Tj ET Q q 0 0 0 rg BT 79.27 665.85 Td ( requirements for NOx imposed on the Cholla units under EP) Tj ET Q q 0 0 0 rg BT 359.93 665.85 Td (A's BAR) Tj ET Q q 0 0 0 rg BT 400.61 665.85 Td (T) Tj ET Q q 0 0 0 rg BT 407.43 665.85 Td ( FIP) Tj ET Q q 0 0 0 rg BT 425.65 665.85 Td (. Because ) Tj ET Q q 0 0 0 rg BT 474.83 665.85 Td (APS) Tj ET Q q 0 0 0 rg BT 499.12 665.85 Td (s proposal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (involves state and federal rule-making processes, ) Tj ET Q q 0 0 0 rg BT 277.83 652.05 Td (APS is unable to predict when or whether it may ultimately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (be approved.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 624.45 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 610.65 Td (Mer) Tj ET Q q 0 0 0 rg BT 104.23 610.65 Td (cury and ) Tj ET Q q 0 0 0 rg BT 147.46 610.65 Td (Air T) Tj ET Q q 0 0 0 rg BT 170.37 610.65 Td (oxic Standar) Tj ET Q q 0 0 0 rg BT 228.39 610.65 Td (ds.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 241.50 610.65 Td ( In 201) Tj ET Q q 0 0 0 rg BT 276.52 610.65 Td (1, EP) Tj ET Q q 0 0 0 rg BT 300.39 610.65 Td (A) Tj ET Q q 0 0 0 rg BT 308.06 610.65 Td ( issued rulesestablishing maximum achievable control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (technology standards to regulate emissions of mercury and other hazardous air pollutants from fossil-fired ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (plants. ) Tj ET Q q 0 0 0 rg BT 84.96 583.05 Td (APS estimates that the cost for the remaining equipment necessary to meet these standards is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 569.25 Td ($130 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.90 569.25 Td ( for Cholla, which would be avoided if EP) Tj ET Q q 0 0 0 rg BT 371.35 569.25 Td (A) Tj ET Q q 0 0 0 rg BT 379.03 569.25 Td ( approves ) Tj ET Q q 0 0 0 rg BT 425.66 569.25 Td (APS's compromise proposal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td (discussed above. No additional equipment is needed for Four Corners Units 4 and 5 to comply with these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (rules. SRP) Tj ET Q q 0 0 0 rg BT 99.67 541.65 Td (, the operating agent for the Navajo Plant, is still evaluating compliance options under the rules.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 527.85 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 514.05 Td (Coal Combustion W) Tj ET Q q 0 0 0 rg BT 177.73 514.05 Td (aste.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 199.13 514.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 204.63 514.05 Td (On December 19, 2014, EP) Tj ET Q q 0 0 0 rg BT 330.05 514.05 Td (A) Tj ET Q q 0 0 0 rg BT 337.72 514.05 Td ( issued its final regulations governing the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (handling and disposal of CCR, such as fly ash and bottom ash. ) Tj ET Q q 0 0 0 rg BT 342.84 500.25 Td (The rule regulates CCR as a non-hazardous ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.45 Td (waste under Subtitle D of RCRA) Tj ET Q q 0 0 0 rg BT 200.59 486.45 Td ( and establishes national minimum criteria for existing and new CCR landfills ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.65 Td (and surface impoundments and all lateral expansions consisting of location restrictions, design and operating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (criteria, groundwater monitoring and corrective action, closure requirements and post closure care, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.05 Td (recordkeeping, notification, and Internet posting requirements. ) Tj ET Q q 0 0 0 rg BT 343.09 445.05 Td (The rule generally requires any existing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (unlined CCR surface impoundment that is contaminating groundwater above a regulated constituent) Tj ET Q q 0 0 0 rg BT 513.55 431.25 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.45 Td (groundwater protection standard to stop receiving CCR and either retrofit or close, and further requires the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.65 Td (closure of any CCR landfill or surface impoundment that cannot meet the applicable performance criteria for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.85 Td (location restrictions or structural integrity) Tj ET Q q 0 0 0 rg BT 240.37 389.85 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 362.25 Td (Because the Subtitle D rule is self-implementing, the CCR standards apply directly to the regulated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.45 Td (facility) Tj ET Q q 0 0 0 rg BT 81.32 348.45 Td (, and facilities are directly responsible for ensuring that their operations comply with the rule) Tj ET Q q 0 0 0 rg BT 511.50 348.45 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.65 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 117.95 334.65 Td (While EP) Tj ET Q q 0 0 0 rg BT 161.29 334.65 Td (A) Tj ET Q q 0 0 0 rg BT 168.96 334.65 Td ( has chosen to regulate the disposal of CCR in landfills and surface impoundments as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.85 Td (non-hazardous waste under the final rule, the agency makes clear that it will continue to evaluate any risks ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.05 Td (associated with CCR disposal and leaves open the possibility that it may regulate CCR as a hazardous waste ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (under RCRA) Tj ET Q q 0 0 0 rg BT 109.24 293.25 Td ( Subtitle C in the future. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.65 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 527.88 265.65 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.85 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 49.50 238.05 Td ($15 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 102.85 238.05 Td (, and its share of incremental costs for Cholla is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 394.12 238.05 Td ($85 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 447.47 238.05 Td (. ) Tj ET Q q 0 0 0 rg BT 455.88 238.05 Td (The Navajo Plant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (currently disposes of CCR in a dry landfill storage area. ) Tj ET Q q 0 0 0 rg BT 311.39 224.25 Td (At this time, SRP) Tj ET Q q 0 0 0 rg BT 390.63 224.25 Td (, the operating agent for the Navajo ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.45 Td (Plant, is analyzing the operations that would be covered by the rule and any resulting compliance costs. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 182.85 Td (Other future 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 49.50 169.05 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 169.05 Td (fluent limitations, the ozone national ambient air quality standard, GHG emissions \(such as the EP) Tj ET Q q 0 0 0 rg BT 510.06 169.05 Td (A) Tj ET Q q 0 0 0 rg BT 517.09 169.05 Td () Tj ET Q q 0 0 0 rg BT 520.29 169.05 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.25 Td (proposed Clean Power Plan ruleissued in accordance with President Obama) Tj ET Q q 0 0 0 rg BT 414.21 155.25 Td (s Climate ) Tj ET Q q 0 0 0 rg BT 460.21 155.25 Td (Action Plan\), and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.45 Td (other rulesor matters involving the Clean ) Tj ET Q q 0 0 0 rg BT 243.37 141.45 Td (Air ) Tj ET Q q 0 0 0 rg BT 260.94 141.45 Td (Act, Clean ) Tj ET Q q 0 0 0 rg BT 312.78 141.45 Td (W) Tj ET Q q 0 0 0 rg BT 322.72 141.45 Td (ater ) Tj ET Q q 0 0 0 rg BT 342.19 141.45 Td (Act, ESA, the Navajo Nation, and water ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.65 Td (supplies for our power plants. ) Tj ET Q q 0 0 0 rg BT 192.06 127.65 Td (The financial impact of complying with these and other future environmental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.85 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 49.50 100.05 Td (participants to fund any required equipment upgrades or continue their participation in these plants. ) Tj ET Q q 0 0 0 rg BT 512.36 100.05 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.25 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 72.45 Td (early retirement of those plants, which may result in asset impairments. ) Tj ET Q q 0 0 0 rg BT 382.93 72.45 Td (APS would seek recovery in rates for ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 249 0 obj <>] /Rotate 0 /Contents 250 0 R>> endobj 250 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (121) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 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 49.50 707.25 Td (cannot predict whether it would obtain such recovery) Tj ET Q q 0 0 0 rg BT 293.69 707.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (Regional Haze Rules Cholla) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 652.05 Td (APS believes that EP) Tj ET Q q 0 0 0 rg BT 182.51 652.05 Td (A) Tj ET Q q 0 0 0 rg BT 189.54 652.05 Td () Tj ET Q q 0 0 0 rg BT 192.74 652.05 Td (s final ruleas it applies to Cholla is unsupported and that EP) Tj ET Q q 0 0 0 rg BT 469.56 652.05 Td (A) Tj ET Q q 0 0 0 rg BT 477.24 652.05 Td ( had no basis for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (disapproving ) Tj ET Q q 0 0 0 rg BT 111.79 638.25 Td (Arizona) Tj ET Q q 0 0 0 rg BT 152.03 638.25 Td (s SIP) Tj ET Q q 0 0 0 rg BT 175.57 638.25 Td ( and promulgating a FIP) Tj ET Q q 0 0 0 rg BT 286.94 638.25 Td ( that is inconsistent with the state) Tj ET Q q 0 0 0 rg BT 442.81 638.25 Td (s considered BAR) Tj ET Q q 0 0 0 rg BT 525.81 638.25 Td (T) Tj ET Q q 0 0 0 rg BT 532.63 638.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (determinations under the regional haze program. ) Tj ET Q q 0 0 0 rg BT 278.15 624.45 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 334.88 624.45 Td (, on February1, 2013, ) Tj ET Q q 0 0 0 rg BT 439.01 624.45 Td (APS filed a Petition for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (Review of the final BAR) Tj ET Q q 0 0 0 rg BT 163.79 610.65 Td (T) Tj ET Q q 0 0 0 rg BT 170.61 610.65 Td ( rulein the United States Court of ) Tj ET Q q 0 0 0 rg BT 328.39 610.65 Td (Appeals for the Ninth Circuit. Briefing in the case ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (was completed in February2014; the court scheduled oral ar) Tj ET Q q 0 0 0 rg BT 328.08 596.85 Td (gument for March 9, 2015.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 583.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (New Mexico ) Tj ET Q q 0 0 0 rg BT 112.52 569.25 Td (T) Tj ET Q q 0 0 0 rg BT 119.13 569.25 Td (ax Matter) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 541.65 Td (On May23, 2013, the New Mexico ) Tj ET Q q 0 0 0 rg BT 251.70 541.65 Td (T) Tj ET Q q 0 0 0 rg BT 257.92 541.65 Td (axation and Revenue Department issued a notice of assessment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (for coal severance surtax, penalty) Tj ET Q q 0 0 0 rg BT 202.97 527.85 Td (, and interest totaling approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 372.24 527.85 Td ($30 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 425.59 527.85 Td ( related to coal supplied ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (under the coal supply agreement for Four Corners \(the Assessment\). ) Tj ET Q q 0 0 0 rg BT 379.08 514.05 Td (APS) Tj ET Q q 0 0 0 rg BT 403.38 514.05 Td (s share of the ) Tj ET Q q 0 0 0 rg BT 466.61 514.05 Td (Assessment is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 500.25 Td ($12 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 172.15 500.25 Td (. For procedural reasons, on behalf of the Four Corners co-owners, including ) Tj ET Q q 0 0 0 rg BT 530.49 500.25 Td (APS, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.45 Td (the coal supplier made a partial payment of the ) Tj ET Q q 0 0 0 rg BT 267.61 486.45 Td (Assessment and immediately filed a refund claim with respect ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.65 Td (to that partial payment in ) Tj ET Q q 0 0 0 rg BT 167.35 472.65 Td (August2013. ) Tj ET Q q 0 0 0 rg BT 234.87 472.65 Td (The New Mexico ) Tj ET Q q 0 0 0 rg BT 318.01 472.65 Td (T) Tj ET Q q 0 0 0 rg BT 324.23 472.65 Td (axation and Revenue Department denied the refund ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (claim. On December19, 2013, the coal supplier and ) Tj ET Q q 0 0 0 rg BT 294.45 458.85 Td (APS, on its own behalf and as operating agent for Four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.05 Td (Corners, filed a complaint with the New Mexico District Court contesting both the validity of the ) Tj ET Q q 0 0 0 rg BT 498.88 445.05 Td (Assessment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (and the refund claim denial. ) Tj ET Q q 0 0 0 rg BT 183.73 431.25 Td (W) Tj ET Q q 0 0 0 rg BT 193.66 431.25 Td (e cannot predict the timing or outcome of this litigation; however) Tj ET Q q 0 0 0 rg BT 493.41 431.25 Td (, we do not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.45 Td (expect the outcome to have a material impact on our financial position, results of operations or cash flows.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 389.85 Td (Financial ) Tj ET Q q 0 0 0 rg BT 97.75 389.85 Td (Assurances) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 362.25 Td (APS has entered into various agreements that require letters of credit for financial assurance purposes. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.45 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 63.88 348.45 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 154.25 348.45 Td (, approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 229.30 348.45 Td ($109 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 288.40 348.45 Td ( of letters of credit were outstanding to support existing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.65 Td (pollution control bonds of a similar amount. ) Tj ET Q q 0 0 0 rg BT 257.87 334.65 Td (The letters of credit are available to fund the payment of principal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.85 Td (and interest of such debt obligations. ) Tj ET Q q 0 0 0 rg BT 224.32 320.85 Td (These letters of credit will expire in 2015, 2016, and 2017.) Tj ET Q q 0 0 0 rg BT 496.43 320.85 Td (APS has also ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.05 Td (entered into letters of credit to support certain equity participants in the Palo ) Tj ET Q q 0 0 0 rg BT 402.82 307.05 Td (V) Tj ET Q q 0 0 0 rg BT 409.85 307.05 Td (erde sale leaseback transactions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (\(see Note 18 for further details on the Palo ) Tj ET Q q 0 0 0 rg BT 248.25 293.25 Td (V) Tj ET Q q 0 0 0 rg BT 255.28 293.25 Td (erde sale leaseback transactions\). ) Tj ET Q q 0 0 0 rg BT 413.44 293.25 Td (These letters of credit will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.45 Td (expire on December31, 2015, and totaled approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 314.56 279.45 Td ($23 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 367.91 279.45 Td ( at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 381.96 279.45 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.33 279.45 Td (. ) Tj ET Q q 0 0 0 rg BT 480.32 279.45 Td (Additionally) Tj ET Q q 0 0 0 rg BT 537.71 279.45 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.65 Td (APS has issued letters of credit to support collateral obligations under a natural gas tolling contract entered into ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.85 Td (with a third party) Tj ET Q q 0 0 0 rg BT 128.28 251.85 Td (. ) Tj ET Q q 0 0 0 rg BT 136.27 251.85 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 150.64 251.85 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 241.02 251.85 Td (, that letter of credit totaled ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.07 251.85 Td ($5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 416.67 251.85 Td ( and will expire in 2015.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 238.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 224.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 224.25 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 49.50 210.45 Td (related to certain of our agreements. Most significantly) Tj ET Q q 0 0 0 rg BT 304.55 210.45 Td (, ) Tj ET Q q 0 0 0 rg BT 309.67 210.45 Td (APS has agreed to indemnify the equity participants ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.65 Td (and other parties in the Palo ) Tj ET Q q 0 0 0 rg BT 180.87 196.65 Td (V) Tj ET Q q 0 0 0 rg BT 187.90 196.65 Td (erde sale leaseback transactions with respect to certain tax matters. Generally) Tj ET Q q 0 0 0 rg BT 545.43 196.65 Td (, a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.85 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 49.50 169.05 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 49.50 155.25 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 49.50 141.45 Td (loss related to such indemnification provisions is likely) Tj ET Q q 0 0 0 rg BT 302.68 141.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 127.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 113.85 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 113.85 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 113.85 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 49.50 100.05 Td (bonds for ) Tj ET Q q 0 0 0 rg BT 95.50 100.05 Td (APS which were not material at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 244.97 100.05 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 335.34 100.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.25 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 251 0 obj <>] /Rotate 0 /Contents 252 0 R>> endobj 252 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (122) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 721.25 Td (1) Tj ET Q q 0 0 0 rg BT 54.62 721.25 Td (1.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.24 721.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.74 721.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 88.62 721.25 Td (Asset Retir) Tj ET Q q 0 0 0 rg BT 143.01 721.25 Td (ement Obligations) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.65 Td (APS has asset retirement obligations for its Palo ) Tj ET Q q 0 0 0 rg BT 310.16 693.65 Td (V) Tj ET Q q 0 0 0 rg BT 317.19 693.65 Td (erde nuclear facilities and certain other generation, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.85 Td (transmission and distribution assets. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 652.25 Td (The Palo ) Tj ET Q q 0 0 0 rg BT 129.37 652.25 Td (V) Tj ET Q q 0 0 0 rg BT 136.40 652.25 Td (erde asset retirement obligation primarily relates to final plant decommissioning. ) Tj ET Q q 0 0 0 rg BT 513.68 652.25 Td (This ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.45 Td (obligation is based on the NRC) Tj ET Q q 0 0 0 rg BT 196.76 638.45 Td (s requirements for disposal of radiated property or plant and agreements ) Tj ET Q q 0 0 0 rg BT 530.48 638.45 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.65 Td (reached with the ) Tj ET Q q 0 0 0 rg BT 127.73 624.65 Td (ACC for final decommissioning of the plant. ) Tj ET Q q 0 0 0 rg BT 339.29 624.65 Td (The non-nuclear generation asset retirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.85 Td (obligations primarily relate to requirements for removing portions of those plants at the end of the plant life or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 597.05 Td (lease term and coal ash pond closures. Some of ) Tj ET Q q 0 0 0 rg BT 272.10 597.05 Td (APS) Tj ET Q q 0 0 0 rg BT 296.39 597.05 Td (s transmission and distribution assets have asset ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.25 Td (retirement obligations because they are subject to right of way and easement agreements that require final ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.45 Td (removal. ) Tj ET Q q 0 0 0 rg BT 95.60 569.45 Td (These agreements have a history of uninterrupted renewal that ) Tj ET Q q 0 0 0 rg BT 384.59 569.45 Td (APS expects to continue. ) Tj ET Q q 0 0 0 rg BT 505.33 569.45 Td (As a result, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.65 Td (APS cannot reasonably estimate the fair value of the asset retirement obligation related to such transmission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.85 Td (and distribution assets. ) Tj ET Q q 0 0 0 rg BT 159.71 541.85 Td (Additionally) Tj ET Q q 0 0 0 rg BT 217.10 541.85 Td (, ) Tj ET Q q 0 0 0 rg BT 222.21 541.85 Td (APS has aquifer protection permits for some of its generation sites that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 528.05 Td (require the closure of certain facilities at those sites.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 501.05 Td (In 2014, an update to the 2013 decommissioning study was completed for Palo ) Tj ET Q q 0 0 0 rg BT 435.41 501.05 Td (V) Tj ET Q q 0 0 0 rg BT 442.14 501.05 Td (erde nuclear generation ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 487.85 Td (facility to incorporate additional spent fuel related char) Tj ET Q q 0 0 0 rg BT 291.51 487.85 Td (ges resulting in an increase to the ) Tj ET Q q 0 0 0 rg BT 440.27 487.85 Td (ARO in the amount of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.40 487.85 Td ($20 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 474.65 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 81.28 474.65 Td (. ) Tj ET Q q 0 0 0 rg BT 88.92 474.65 Td (Also in 2014, an updated Four Corners Units 1-3 coal-fired power plant decommissioning study was ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 461.45 Td (finalized, which resulted in an increase to the ) Tj ET Q q 0 0 0 rg BT 250.79 461.45 Td (ARO of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 288.67 461.45 Td ($24 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 339.71 461.45 Td (. In addition, Four Corners spent ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.50 461.45 Td ($30 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 539.53 461.45 Td ( in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 448.25 Td (actual decommissioning costs. Finally) Tj ET Q q 0 0 0 rg BT 219.57 448.25 Td (, in 2014 ) Tj ET Q q 0 0 0 rg BT 260.52 448.25 Td (APS also recognized an ) Tj ET Q q 0 0 0 rg BT 367.44 448.25 Td (ARO related to a new solar facility on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 435.05 Td (leased property that requires the land to be returned to its original condition upon decommissioning of the plant, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 421.85 Td (which resulted in an increase to the ) Tj ET Q q 0 0 0 rg BT 206.81 421.85 Td (ARO of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.70 421.85 Td ($6 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 290.23 421.85 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 394.85 Td ( In 2013, a decommissioning study with updated cash flow estimates was completed for Palo ) Tj ET Q q 0 0 0 rg BT 499.86 394.85 Td (V) Tj ET Q q 0 0 0 rg BT 506.59 394.85 Td (erde, which ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 381.65 Td (resulted in a decrease of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 158.53 381.65 Td ($52 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 209.56 381.65 Td (. ) Tj ET Q q 0 0 0 rg BT 217.20 381.65 Td (Also in 2013, ) Tj ET Q q 0 0 0 rg BT 278.93 381.65 Td (APS finalized the transaction to acquire SCE) Tj ET Q q 0 0 0 rg BT 479.94 381.65 Td (s interest in Four ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 368.45 Td (Corners. ) Tj ET Q q 0 0 0 rg BT 91.97 368.45 Td (As part of that transaction, ) Tj ET Q q 0 0 0 rg BT 211.11 368.45 Td (APS assumed SCE) Tj ET Q q 0 0 0 rg BT 297.90 368.45 Td (s asset retirement obligation resulting in an increase to the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 355.25 Td (ARO of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 87.39 355.25 Td ($34 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 138.42 355.25 Td (. In addition, on December 30, 2013, ) Tj ET Q q 0 0 0 rg BT 305.22 355.25 Td (APS also retired Four Corners Units 1-3 and began ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 342.05 Td (decommissioning activities. Finally) Tj ET Q q 0 0 0 rg BT 205.52 342.05 Td (, Four Corners spent ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 298.10 342.05 Td ($12 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 349.13 342.05 Td ( in actual decommissioning costs. ) Tj ET Q q 0 0 0 rg BT 502.19 342.05 Td (An update ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 328.85 Td (was made to the timing of the Units 1-3 decommissioning cash flows to coincide with the expected ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 315.65 Td (decommissioning activities. ) Tj ET Q q 0 0 0 rg BT 177.62 315.65 Td (This update resulted in a decrease to the ) Tj ET Q q 0 0 0 rg BT 356.00 315.65 Td (ARO of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 393.88 315.65 Td ($4 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 439.41 315.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 301.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 288.05 Td (The following schedule shows the change in our asset retirement obligations for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 456.61 288.05 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.61 288.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 501.96 288.05 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 524.96 288.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 274.25 Td (\(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 237.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 237.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 237.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 237.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 209.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 209.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 209.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 209.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 181.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 181.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 181.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 181.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 139.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 139.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 139.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 139.95 65.00 -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 428 237.95000000000005 m 493 237.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 237.95000000000005 m 562 237.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 139.95000000000005 m 493 139.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 139.95000000000005 m 562 139.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 139.95000000000005 m 493 139.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 126.95000000000005 m 493 126.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 124.95000000000005 m 493 124.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 139.95000000000005 m 562 139.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 126.95000000000005 m 562 126.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 124.95000000000005 m 562 124.95000000000005 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 240.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 242.03 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 242.03 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 228.52 Td (Asset retirement obligations at the beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 228.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 228.52 Td (347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 228.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 228.52 Td (357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 214.52 Td (Changes attributable to:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 212.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 212.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 200.52 Td (Accretion expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 200.52 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 200.52 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 186.52 Td (Settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.80 186.57 Td (\(30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 186.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 186.57 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 186.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 172.52 Td (Assumed SCEs obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 172.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 172.52 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 158.52 Td (Estimated cash flow revisions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 158.52 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 158.57 Td (\(56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 158.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 144.52 Td (Newly incurred obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 144.52 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 144.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 130.52 Td (Asset retirement obligations at the end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 130.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 130.52 Td (391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 130.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 130.52 Td (347) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 112.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 98.85 Td (As mentioned above, decommissioning activities for Four Corners Units 1-3 began in January2014; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.05 Td (and, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 71.85 85.05 Td ($32 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 125.21 85.05 Td ( of the total ) Tj ET Q q 0 0 0 rg BT 180.14 85.05 Td (ARO at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 218.47 85.05 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 308.85 85.05 Td (, was classified as a current liability on the balance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 71.25 Td (sheet. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 81.75 71.25 Td (At December 31, 2013, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.45 71.25 Td ($33 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 238.48 71.25 Td ( of the total ) Tj ET Q q 0 0 0 rg BT 291.02 71.25 Td (ARO of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 328.91 71.25 Td ($347 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 385.44 71.25 Td ( was classified as a current liability on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 58.05 Td (the balance sheet.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 253 0 obj <>] /Rotate 0 /Contents 254 0 R>> endobj 254 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (123) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.25 Td (In accordance with regulatory accounting, ) Tj ET Q q 0 0 0 rg BT 281.56 707.25 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 49.50 693.45 Td (even if there is no legal obligation for removal. See detail of regulatory liabilities in Note 3.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (12.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.88 665.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.38 665.85 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 89.25 665.85 Td (Selected Quarterly Financial Data \(Unaudited\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 319.23 665.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 638.25 Td (Consolidated quarterly financial information for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 310.01 638.25 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.01 638.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 355.36 638.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 378.36 638.25 Td ( is provided in the tables below \(dollars ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (in thousands, except per share amounts\). ) Tj ET Q q 0 0 0 rg BT 241.87 624.45 Td (W) Tj ET Q q 0 0 0 rg BT 251.80 624.45 Td (eather conditions cause significant seasonal fluctuations in our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (revenues; therefore, results for interim periods do not necessarily represent results expected for the year) Tj ET Q q 0 0 0 rg BT 525.62 610.65 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 562.35 196.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 562.35 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 562.35 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 562.35 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 562.35 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 562.35 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 562.35 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 562.35 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 562.35 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 562.35 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 524.35 196.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 524.35 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 524.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 524.35 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 524.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 524.35 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 524.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 524.35 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 524.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 524.35 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 496.35 196.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 496.35 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 496.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 496.35 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 496.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 496.35 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 496.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 496.35 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 496.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 496.35 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 457.35 196.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 457.35 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 457.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 457.35 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 457.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 457.35 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 457.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 457.35 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 457.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 457.35 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 431.35 196.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 431.35 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 431.35 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 431.35 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 431.35 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 431.35 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 431.35 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 431.35 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 431.35 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 431.35 60.00 -24.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 574.35 m 306 574.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 574.35 m 310 574.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 574.35 m 370 574.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 574.35 m 374 574.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 574.35 m 434 574.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 574.35 m 438 574.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 574.35 m 498 574.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 574.35 m 562 574.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 562.35 m 306 562.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 562.35 m 370 562.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 562.35 m 434 562.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 562.35 m 498 562.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 562.35 m 562 562.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 562.35 m 306 562.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 562.35 m 370 562.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 562.35 m 434 562.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 562.35 m 498 562.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 562.35 m 562 562.35 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 577.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.45 578.43 Td (2014 Quarter Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.50 578.43 Td (2014) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 565.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.00 566.43 Td (March31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.25 566.43 Td (June30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.90 566.43 Td (Sept.30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.05 566.43 Td (Dec.31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.75 566.43 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 543.02 Td (Operating revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.50 543.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.65 543.02 Td (686,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.50 543.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 543.02 Td (906,264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.50 543.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.10 543.02 Td (1,172,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 543.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 543.02 Td (726,450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 543.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.10 543.02 Td (3,491,632) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 528.92 Td (Operations and maintenance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.65 528.92 Td (212,882) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 528.92 Td (211,222) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 528.92 Td (223,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 528.92 Td (260,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 528.92 Td (908,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 514.92 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 514.92 Td (75,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 514.92 Td (254,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 514.92 Td (421,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 514.92 Td (60,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 514.92 Td (811,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 500.92 Td (Income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 500.92 Td (6,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 500.92 Td (74,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 500.92 Td (134,753) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 500.92 Td (5,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 500.92 Td (220,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 486.92 Td (Income from continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 486.92 Td (24,691) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 486.92 Td (141,384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 486.92 Td (248,086) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 486.92 Td (9,535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 486.92 Td (423,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 472.92 Td (Net income attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 462.92 Td (shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 462.02 Td (15,766) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 462.02 Td (132,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 462.02 Td (243,961) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 462.02 Td (5,410) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 462.02 Td (397,595) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 435.08 Td (Earnings Per Share:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 302.50 434.11 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 366.50 434.11 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 430.50 434.11 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 494.50 434.11 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 434.11 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 421.92 Td (Net income attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 411.92 Td (shareholders Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.50 412.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 412.02 Td (0.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.50 412.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 412.02 Td (1.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.50 412.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 412.02 Td (2.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 412.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 412.02 Td (0.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 412.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 412.02 Td (3.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 397.92 Td (Net income attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 387.92 Td (shareholders Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 388.02 Td (0.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 388.02 Td (1.19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 388.02 Td (2.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 388.02 Td (0.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 388.02 Td (3.58) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 370.05 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 335.55 196.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 335.55 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 335.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 335.55 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 335.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 335.55 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 335.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 335.55 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 335.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 335.55 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 297.55 196.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 297.55 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 297.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 297.55 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 297.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 297.55 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 297.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 297.55 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 297.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 297.55 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 269.55 196.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 269.55 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 269.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 269.55 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 269.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 269.55 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 269.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 269.55 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 269.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 269.55 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 231.55 196.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 231.55 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 231.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 231.55 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 231.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 231.55 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 231.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 231.55 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 231.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 231.55 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 205.55 196.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 205.55 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 205.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 205.55 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 205.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 205.55 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 205.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 205.55 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 205.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 205.55 60.00 -24.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 347.54999999999995 m 306 347.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 347.54999999999995 m 310 347.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 347.54999999999995 m 370 347.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 347.54999999999995 m 374 347.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 347.54999999999995 m 434 347.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 347.54999999999995 m 438 347.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 347.54999999999995 m 498 347.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 347.54999999999995 m 562 347.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 335.54999999999995 m 306 335.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 347.54999999999995 m 370 347.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 335.54999999999995 m 370 335.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 335.54999999999995 m 434 335.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 335.54999999999995 m 498 335.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 335.54999999999995 m 562 335.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 335.54999999999995 m 306 335.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 335.54999999999995 m 370 335.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 335.54999999999995 m 434 335.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 335.54999999999995 m 498 335.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 335.54999999999995 m 562 335.54999999999995 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 350.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.45 351.63 Td (2013 Quarter Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.50 351.63 Td (2013) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 338.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.00 339.63 Td (March31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.25 339.63 Td (June30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.90 339.63 Td (Sept.30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.05 339.63 Td (Dec.31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.75 339.63 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 316.22 Td (Operating revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.50 316.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.65 316.22 Td (686,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.50 316.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 316.22 Td (915,822) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.50 316.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.10 316.22 Td (1,152,392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 316.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 316.22 Td (699,762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 316.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.10 316.22 Td (3,454,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 302.12 Td (Operations and maintenance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.65 302.12 Td (223,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 302.12 Td (229,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 302.12 Td (233,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 302.12 Td (238,854) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 302.12 Td (924,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 288.12 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 288.12 Td (86,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 288.12 Td (259,812) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 288.12 Td (415,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 288.12 Td (83,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 288.12 Td (846,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 274.12 Td (Income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 274.12 Td (12,469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 274.12 Td (77,043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 274.12 Td (131,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 274.12 Td (9,167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 274.12 Td (230,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 260.12 Td (Income from continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 260.12 Td (32,836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 260.12 Td (139,598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 260.12 Td (234,718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 260.12 Td (32,814) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 260.12 Td (439,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 246.12 Td (Net income attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 236.12 Td (shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 236.22 Td (24,444) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 236.22 Td (131,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 236.22 Td (226,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 236.22 Td (24,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 236.22 Td (406,074) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 209.28 Td (Earnings Per Share:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 302.50 208.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 366.50 208.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 430.50 208.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 494.50 208.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 208.31 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 196.12 Td (Net income attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 186.12 Td (shareholders Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.50 186.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 186.22 Td (0.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.50 186.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 186.22 Td (1.19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.50 186.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 186.22 Td (2.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 186.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 186.22 Td (0.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 186.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 186.22 Td (3.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 172.12 Td (Net income attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 162.12 Td (shareholders Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 162.22 Td (0.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 162.22 Td (1.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 162.22 Td (2.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 162.22 Td (0.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 162.22 Td (3.66) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 144.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 130.45 Td (13.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.88 130.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.38 130.45 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 89.25 130.45 Td (Fair) Tj ET Q q 0 0 0 rg BT 110.12 130.45 Td ( ) Tj ET Q q 0 0 0 rg BT 112.78 130.45 Td (V) Tj ET Q q 0 0 0 rg BT 120.03 130.45 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 180.83 130.45 Td (ements) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 116.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 102.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 102.85 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 522.58 102.85 Td (. ) Tj ET Q q 0 0 0 rg BT 530.99 102.85 Td (This ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 89.05 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 75.25 Td (and disclosed in one of three categories. ) Tj ET Q q 0 0 0 rg BT 239.30 75.25 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 61.45 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 255 0 obj <>] /Rotate 0 /Contents 256 0 R>> endobj 256 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (124) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities that we have the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (ability to access at the measurement date. ) Tj ET Q q 0 0 0 rg BT 245.25 707.25 Td (Active markets are those in which transactions for the asset or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (liability occur in suf) Tj ET Q q 0 0 0 rg BT 142.23 693.45 Td (ficient frequency and volume to provide information on an ongoing basis. ) Tj ET Q q 0 0 0 rg BT 487.27 693.45 Td (This category ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (includes exchange traded equities, exchange traded derivative instruments, cash equivalents, and investments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (in U.S. ) Tj ET Q q 0 0 0 rg BT 84.44 665.85 Td (T) Tj ET Q q 0 0 0 rg BT 91.06 665.85 Td (reasury securities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 638.25 Td (Level 2 Utilizes quoted prices in active markets for similar assets or liabilities; quoted prices in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (markets that are not active; and model-derived valuations whose inputs are observable \(such as yield curves\). ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (This category includes non-exchange traded contracts such as forwards, options, swaps and certain investments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (in fixed income securities. ) Tj ET Q q 0 0 0 rg BT 176.40 596.85 Td (This category also includes investments that are redeemable and valued based on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (NA) Tj ET Q q 0 0 0 rg BT 64.63 583.05 Td (V) Tj ET Q q 0 0 0 rg BT 71.45 583.05 Td (, such as common and collective trusts and commingled funds. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 569.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.45 Td (Level 3 ) Tj ET Q q 0 0 0 rg BT 137.35 555.45 Td (V) Tj ET Q q 0 0 0 rg BT 144.38 555.45 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 49.50 541.65 Td (market activity) Tj ET Q q 0 0 0 rg BT 118.05 541.65 Td (. Instruments in this category include long-dated derivative transactions where valuations are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (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 49.50 514.05 Td (market data does not exist. ) Tj ET Q q 0 0 0 rg BT 178.00 514.05 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 49.50 500.25 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 85.50 486.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 472.65 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 49.50 458.85 Td (to the fair value measurement. ) Tj ET Q q 0 0 0 rg BT 194.58 458.85 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 49.50 445.05 Td (include significant inputs that are readily observable. ) Tj ET Q q 0 0 0 rg BT 298.71 445.05 Td (W) Tj ET Q q 0 0 0 rg BT 308.64 445.05 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 49.50 431.25 Td (the use of unobservable inputs. ) Tj ET Q q 0 0 0 rg BT 197.81 431.25 Td (W) Tj ET Q q 0 0 0 rg BT 207.74 431.25 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 49.50 417.45 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 49.50 403.65 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 49.50 389.85 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 514.87 389.85 Td (fect the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.05 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 49.50 362.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 362.25 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 551.75 362.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.45 Td (and assessing the volume of transactions. ) Tj ET Q q 0 0 0 rg BT 244.76 348.45 Td (W) Tj ET Q q 0 0 0 rg BT 254.69 348.45 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 49.50 334.65 Td (binding on the broker) Tj ET Q q 0 0 0 rg BT 148.37 334.65 Td (, we can validate the quote with market activity) Tj ET Q q 0 0 0 rg BT 365.73 334.65 Td (, or we can determine that the inputs the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.85 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 85.50 307.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (Recurring Fair) Tj ET Q q 0 0 0 rg BT 123.70 293.25 Td ( ) Tj ET Q q 0 0 0 rg BT 126.37 293.25 Td (V) Tj ET Q q 0 0 0 rg BT 133.62 293.25 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 194.42 293.25 Td (ements) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.65 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 265.65 Td (e apply recurring fair value measurements to certain cash equivalents, derivative instruments, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.85 Td (investments held in our nuclear decommissioning trust and plan assets held in our retirement and other benefit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.05 Td (plans. See Note 7 for the 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 85.50 224.25 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 210.45 Td (Cash Equivalents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 196.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 182.85 Td (Cash equivalents represent short-term investments with original maturities of three months or less in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.05 Td (exchange traded money market funds that are valued using quoted prices in active markets.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 141.45 Td (Risk Management ) Tj ET Q q 0 0 0 rg BT 174.53 141.45 Td (Activities Derivative Instruments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 127.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 113.85 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 49.50 100.05 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 465.04 100.05 Td (fer price, discounted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.25 Td (to reflect net present value. ) Tj ET Q q 0 0 0 rg BT 179.89 86.25 Td (W) Tj ET Q q 0 0 0 rg BT 189.82 86.25 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 72.45 Td (the valuation of future commitments. ) Tj ET Q q 0 0 0 rg BT 225.91 72.45 Td (These include valuation adjustments for liquidity and credit risks. ) Tj ET Q q 0 0 0 rg BT 533.27 72.45 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.65 Td (liquidity valuation adjustment represents the cost that would be incurred if all unmatched positions were closed ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 257 0 obj <>] /Rotate 0 /Contents 258 0 R>> endobj 258 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (125) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (out or hedged. ) Tj ET Q q 0 0 0 rg BT 121.15 721.05 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 49.50 707.25 Td (counterparties, taking into account netting agreements, expected default experience for the credit rating of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (counterparties and the overall diversification of the portfolio. ) Tj ET Q q 0 0 0 rg BT 336.06 693.45 Td (W) Tj ET Q q 0 0 0 rg BT 346.00 693.45 Td (e maintain credit policies that management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (believes minimize overall credit risk.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 652.05 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 49.50 638.25 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 49.50 624.45 Td (long-dated ener) Tj ET Q q 0 0 0 rg BT 121.14 624.45 Td (gy transactions consist of observable valuations for the near) Tj ET Q q 0 0 0 rg BT 396.19 624.45 Td (-term portion and unobservable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (valuations for the long-term portions of the transaction. ) Tj ET Q q 0 0 0 rg BT 309.90 610.65 Td (W) Tj ET Q q 0 0 0 rg BT 319.83 610.65 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 49.50 596.85 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 111.58 596.85 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 49.50 583.05 Td (quote has been developed consistent with fair value accounting guidance. ) Tj ET Q q 0 0 0 rg BT 392.91 583.05 Td (These controls include assessing the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 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 49.50 555.45 Td (and assessing market activity) Tj ET Q q 0 0 0 rg BT 183.21 555.45 Td (. ) Tj ET Q q 0 0 0 rg BT 191.63 555.45 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 49.50 541.65 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 49.50 527.85 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 85.50 514.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 500.25 Td (Option contracts are primarily valued using a Black-Scholes option valuation model, which utilizes ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.45 Td (both observable and unobservable inputs such as broker quotes, interest rates and price volatilities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 472.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 458.85 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 49.50 445.05 Td (transaction is classified as Level 3. Our classification of instruments as Level 3 is primarily reflective of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (long-term nature of our ener) Tj ET Q q 0 0 0 rg BT 179.57 431.25 Td (gy transactions and the use of option valuation models with significant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.45 Td (unobservable inputs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 403.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 389.85 Td (Our ener) Tj ET Q q 0 0 0 rg BT 125.84 389.85 Td (gy risk management committee, consisting of of) Tj ET Q q 0 0 0 rg BT 347.60 389.85 Td (ficers and key management personnel, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.05 Td (oversees our ener) Tj ET Q q 0 0 0 rg BT 129.75 376.05 Td (gy risk management activities to ensure compliance with our stated ener) Tj ET Q q 0 0 0 rg BT 461.67 376.05 Td (gy risk management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.25 Td (policies. ) Tj ET Q q 0 0 0 rg BT 93.69 362.25 Td (W) Tj ET Q q 0 0 0 rg BT 103.62 362.25 Td (e have a risk control function that is responsible for valuing our derivative commodity instruments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.45 Td (in accordance with established policies and procedures. ) Tj ET Q q 0 0 0 rg BT 310.19 348.45 Td (The risk control function reports to the chief financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.65 Td (of) Tj ET Q q 0 0 0 rg BT 58.87 334.65 Td (ficer) Tj ET Q q 0 0 0 rg BT 80.36 334.65 Td () Tj ET Q q 0 0 0 rg BT 83.56 334.65 Td (s or) Tj ET Q q 0 0 0 rg BT 100.28 334.65 Td (ganization.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 320.85 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 307.05 Td (Investments Held in our Nuclear Decommissioning T) Tj ET Q q 0 0 0 rg BT 338.74 307.05 Td (rust) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 293.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 279.45 Td (The nuclear decommissioning trust invests in fixed income securities and equity securities. Equity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.65 Td (securities are held indirectly through commingled funds. ) Tj ET Q q 0 0 0 rg BT 315.33 265.65 Td (The commingled funds are valued based on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.85 Td (concept of NA) Tj ET Q q 0 0 0 rg BT 115.72 251.85 Td (V) Tj ET Q q 0 0 0 rg BT 122.54 251.85 Td (, which is a value primarily derived from the quoted active market prices of the underlying ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.05 Td (equity securities. ) Tj ET Q q 0 0 0 rg BT 132.97 238.05 Td (W) Tj ET Q q 0 0 0 rg BT 142.90 238.05 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 497.53 238.05 Td (V) Tj ET Q q 0 0 0 rg BT 504.35 238.05 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (accordingly classify these investments as Level 2. ) Tj ET Q q 0 0 0 rg BT 284.66 224.25 Td (The commingled funds, which are similar to mutual funds, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.45 Td (are maintained by a bank and hold investments in accordance with the stated objective of tracking the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.65 Td (performance of the S&P) Tj ET Q q 0 0 0 rg BT 161.17 196.65 Td ( 500 Index. Because the commingled fund shares are of) Tj ET Q q 0 0 0 rg BT 419.31 196.65 Td (fered to a limited group of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.85 Td (investors, they are not considered to be traded in an active market.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 169.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 155.25 Td (Cash equivalents reported within Level 2 represent investments held in a short-term investment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.45 Td (commingled fund, valued using NA) Tj ET Q q 0 0 0 rg BT 213.15 141.45 Td (V) Tj ET Q q 0 0 0 rg BT 219.97 141.45 Td (, which invests in U.S. government fixed income securities. ) Tj ET Q q 0 0 0 rg BT 499.55 141.45 Td (W) Tj ET Q q 0 0 0 rg BT 509.48 141.45 Td (e may ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.65 Td (transact in this commingled fund on a daily basis at the NA) Tj ET Q q 0 0 0 rg BT 321.09 127.65 Td (V) Tj ET Q q 0 0 0 rg BT 327.92 127.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 113.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 100.05 Td (Fixed income securities issued by the U.S. ) Tj ET Q q 0 0 0 rg BT 283.65 100.05 Td (T) Tj ET Q q 0 0 0 rg BT 290.27 100.05 Td (reasury held directly by the nuclear decommissioning trust ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.25 Td (are valued using quoted active market prices and are classified as Level 1. Fixed income securities issued by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.45 Td (corporations, municipalities, and other agencies, including mortgage-backed instruments, are valued using ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.65 Td (quoted inactive market prices, quoted active market prices for similar securities, or by utilizing calculations ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 259 0 obj <>] /Rotate 0 /Contents 260 0 R>> endobj 260 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (126) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (which incorporate observable inputs such as yield curves and spreads relative to such yield curves. ) Tj ET Q q 0 0 0 rg BT 508.84 721.05 Td (These ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (instruments are classified as Level 2. ) Tj ET Q q 0 0 0 rg BT 224.94 707.25 Td (Whenever possible, multiple market quotes are obtained which enables a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (cross-check validation. ) Tj ET Q q 0 0 0 rg BT 160.63 693.45 Td (A) Tj ET Q q 0 0 0 rg BT 168.30 693.45 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 85.50 679.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 665.85 Td (e price securities using information provided by our trustee for our nuclear decommissioning trust ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (assets. Our trustee uses pricing services that utilize the valuation methodologies described to determine fair ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (market value. ) Tj ET Q q 0 0 0 rg BT 114.75 638.25 Td (W) Tj ET Q q 0 0 0 rg BT 124.68 638.25 Td (e have internal control procedures designed to ensure this information is consistent with fair ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (value accounting guidance. ) Tj ET Q q 0 0 0 rg BT 177.66 624.45 Td (These procedures include assessing valuations using an independent pricing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (source, verifying that pricing can be supported by actual recent market transactions, assessing hierarchy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (classifications, comparing investment returns with benchmarks, and obtaining and reviewing independent audit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (reports on the trustee) Tj ET Q q 0 0 0 rg BT 149.46 583.05 Td (s internal operating controls and valuation processes. See Note 19 for additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (discussion about our nuclear decommissioning trust.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.45 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 541.65 Td (Fair V) Tj ET Q q 0 0 0 rg BT 115.86 541.65 Td (alue T) Tj ET Q q 0 0 0 rg BT 145.15 541.65 Td (ables) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 527.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 514.05 Td (The following table presents the fair value at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.35 514.05 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 384.72 514.05 Td ( of our assets and liabilities that are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (measured at fair value on a recurring basis \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 422.95 175.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 422.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 422.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.00 422.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 422.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 422.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 422.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 422.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 422.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 422.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 422.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 422.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 382.95 175.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 382.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 382.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.00 382.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 382.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 382.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 382.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 382.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 382.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 382.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 382.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 382.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 352.95 175.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 352.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 352.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.00 352.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 352.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 352.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 352.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 352.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 352.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 352.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 352.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 352.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 322.95 175.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 322.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 322.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.00 322.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 322.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 322.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 322.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 322.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 322.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 322.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 322.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 322.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 292.95 175.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 292.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 292.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.00 292.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 292.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 292.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 292.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 292.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 292.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 292.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 292.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 292.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 262.95 175.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 262.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 262.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.00 262.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 262.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 262.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 262.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 262.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 262.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 262.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 262.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 262.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 232.95 175.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 232.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 232.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.00 232.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 232.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 232.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 232.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 232.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 232.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 232.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 232.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 232.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 202.95 175.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 202.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 202.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.00 202.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 202.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 202.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 202.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 202.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 202.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 202.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 202.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 202.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 162.95 175.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 162.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 162.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.00 162.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 162.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 162.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 162.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 162.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 162.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 162.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 162.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 162.95 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 225 422.95000000000005 m 285 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 422.95000000000005 m 349 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 422.95000000000005 m 413 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 422.95000000000005 m 477 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 422.95000000000005 m 563 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225 422.95000000000005 m 285 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 422.95000000000005 m 349 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 422.95000000000005 m 413 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 422.95000000000005 m 477 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 422.95000000000005 m 563 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225 232.95000000000005 m 285 232.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 232.95000000000005 m 349 232.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 232.95000000000005 m 413 232.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 232.95000000000005 m 477 232.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 232.95000000000005 m 563 232.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225 217.95000000000005 m 285 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 217.95000000000005 m 349 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 217.95000000000005 m 413 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 217.95000000000005 m 477 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 217.95000000000005 m 563 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225 217.95000000000005 m 285 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225 203.95000000000005 m 285 203.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225 201.95000000000005 m 285 201.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 217.95000000000005 m 349 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 203.95000000000005 m 349 203.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 201.95000000000005 m 349 201.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 217.95000000000005 m 413 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 203.95000000000005 m 413 203.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 201.95000000000005 m 413 201.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 217.95000000000005 m 477 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 203.95000000000005 m 477 203.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 201.95000000000005 m 477 201.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 217.95000000000005 m 563 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 203.95000000000005 m 563 203.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 201.95000000000005 m 563 201.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225 148.95000000000005 m 285 148.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225 146.95000000000005 m 285 146.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 148.95000000000005 m 349 148.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 146.95000000000005 m 349 146.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 148.95000000000005 m 413 148.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 146.95000000000005 m 413 146.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 148.95000000000005 m 477 148.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 146.95000000000005 m 477 146.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 148.95000000000005 m 563 148.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 146.95000000000005 m 563 146.95000000000005 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 425.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 230.35 467.18 Td (QuotedPrices) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 239.50 459.18 Td (in) Tj ET Q q 0 0 0 rg BT 247.73 459.18 Td (Active) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 234.00 451.18 Td (Marketsfor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 239.35 443.18 Td (Identical) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 243.80 435.18 Td (Assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 239.50 427.18 Td (\(Level1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 300.05 459.18 Td (Significant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 308.35 451.18 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.90 443.18 Td (Observable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.35 435.18 Td (Inputs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 303.50 427.18 Td (\(Level2\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.05 451.18 Td (Significant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.90 443.18 Td (Unobservable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.70 435.18 Td (Inputs\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.50 427.18 Td (\(Level3\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.35 427.18 Td (Other) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.50 425.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.60 443.18 Td (Balance at) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.25 435.18 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.50 427.18 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 413.52 Td (Assets) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.50 410.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 345.50 410.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 409.50 410.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 473.50 410.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 410.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 410.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 398.52 Td (Risk management activities derivative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 388.52 Td (instruments:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.50 385.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 345.50 385.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 409.50 385.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 473.50 385.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 385.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 385.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 373.52 Td (Commodity Contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.50 372.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 372.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.50 372.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.15 372.62 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 372.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 372.62 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.50 372.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.80 372.67 Td (\(23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 372.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.50 372.62 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 372.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 372.62 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 358.52 Td (Nuclear decommissioning trust:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.50 355.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 345.50 355.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 409.50 355.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 473.50 355.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 355.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 355.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 343.52 Td (U.S. commingled equity funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 342.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.15 342.62 Td (310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 342.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 342.62 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 340.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 342.62 Td (310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 328.52 Td (Fixed income securities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.50 325.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 345.50 325.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 409.50 325.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 473.50 325.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 325.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 325.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 313.52 Td (U.S. Treasury) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.15 312.62 Td (119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.15 312.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 312.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 312.62 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 310.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 312.62 Td (119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 298.52 Td (Cash and cash equivalent funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 297.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.15 297.62 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 297.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.80 297.67 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 297.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.50 297.62 Td (\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 297.62 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 283.52 Td (Corporate debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 282.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.15 282.62 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 282.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 282.62 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 280.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 282.62 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 268.52 Td (Mortgage-backed securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 267.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.15 267.62 Td (89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 267.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 267.62 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 265.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 267.62 Td (89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 253.52 Td (Municipality bonds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 252.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.15 252.62 Td (69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 252.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 252.62 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 250.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 252.62 Td (69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 238.52 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 237.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.15 237.62 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 237.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 237.62 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 235.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 237.62 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 223.52 Td (Subtotal nuclear decommissioning trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.15 222.62 Td (119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.15 222.62 Td (602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 222.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.80 222.67 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 222.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 222.62 Td (714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 208.52 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.50 207.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.15 207.62 Td (119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.50 207.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.15 207.62 Td (623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 207.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 207.62 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.50 207.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.80 207.67 Td (\(30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 207.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 207.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 207.62 Td (745) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 193.52 Td (Liabilities) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.50 190.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 345.50 190.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 409.50 190.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 473.50 190.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 190.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 190.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 178.52 Td (Risk management activities derivative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 168.52 Td (instruments:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.50 165.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 345.50 165.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 409.50 165.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 473.50 165.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 165.71 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 165.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 153.52 Td (Commodity contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.50 152.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 152.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.50 152.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.80 152.67 Td (\(95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.15 152.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 152.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.80 152.67 Td (\(74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.15 152.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.50 152.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 152.62 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.50 152.62 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 152.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 152.67 Td (\(110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 152.62 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 114.85 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 114.85 Td (Primarily consists of heat rate options and other long-dated electricity contracts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 101.05 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 101.05 Td (Represents counterparty netting, mar) Tj ET Q q 0 0 0 rg BT 273.19 101.05 Td (gin and collateral. See Note 16.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 87.25 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 87.25 Td (Represents nuclear decommissioning trust net pending securities sales and purchases.) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 261 0 obj <>] /Rotate 0 /Contents 262 0 R>> endobj 262 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (127) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 721.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.25 Td (The following table presents the fair value at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.35 707.25 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 384.72 707.25 Td ( of our assets and liabilities that are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (measured at fair value on a recurring basis \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.65 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 609.15 173.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 609.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 609.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 609.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 609.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 609.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 609.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 609.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 609.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 609.15 20.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 609.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 609.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 595.15 173.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 595.15 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 595.15 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 595.15 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 595.15 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 595.15 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 595.15 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 595.15 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 595.15 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 595.15 20.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 595.15 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 595.15 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 557.15 173.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 557.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 557.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 557.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 557.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 557.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 557.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 557.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 557.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 557.15 20.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 557.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 557.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 529.15 173.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 529.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 529.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 529.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 529.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 529.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 529.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 529.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 529.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 529.15 20.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 529.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 529.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 501.15 173.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 501.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 501.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 501.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 501.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 501.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 501.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 501.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 501.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 501.15 20.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 501.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 501.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 473.15 173.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 473.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 473.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 473.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 473.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 473.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 473.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 473.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 473.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 473.15 20.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 473.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 473.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 445.15 173.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 445.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 445.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 445.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 445.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 445.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 445.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 445.15 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 445.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 445.15 20.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 445.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 445.15 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 389.15 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 389.15 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 389.15 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 389.15 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 389.15 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 389.15 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 389.15 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 389.15 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 389.15 20.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 389.15 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 389.15 60.00 -24.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 609.15 m 283 609.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 609.15 m 347 609.15 l s 0 0 0 RG 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411 402.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 417.15 m 475 417.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 404.15 m 475 404.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 402.15 m 475 402.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 417.15 m 563 417.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 404.15 m 563 404.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 402.15 m 563 402.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 352.15 m 283 352.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 350.15 m 283 350.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 352.15 m 347 352.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 350.15 m 347 350.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 352.15 m 411 352.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 350.15 m 411 350.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 352.15 m 475 352.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 350.15 m 475 350.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 352.15 m 563 352.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 350.15 m 563 350.15 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 611.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 228.35 653.38 Td (QuotedPrices) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.50 645.38 Td (in) Tj ET Q q 0 0 0 rg BT 245.73 645.38 Td (Active) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 232.00 637.38 Td (Marketsfor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.35 629.38 Td (Identical) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 241.80 621.38 Td (Assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.50 613.38 Td (\(Level1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.05 645.38 Td (Significant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.35 637.38 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.90 629.38 Td (Observable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 305.35 621.38 Td (Inputs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.50 613.38 Td (\(Level2\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.05 637.38 Td (Significant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.90 629.38 Td (Unobservable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 363.70 621.38 Td (Inputs\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.50 613.38 Td (\(Level3\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 434.35 613.38 Td (Other) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 488.50 611.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.60 629.38 Td (Balance at) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.25 621.38 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.50 613.38 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 599.72 Td (Assets) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 279.50 597.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 343.50 597.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 407.50 597.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 471.50 597.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 481.50 597.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 597.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 585.72 Td (Risk management activities derivative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 575.72 Td (instruments:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 279.50 573.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 343.50 573.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 407.50 573.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 471.50 573.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 481.50 573.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 573.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 561.72 Td (Commodity Contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.50 561.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 561.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.50 561.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.15 561.72 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 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funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 533.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 533.72 Td (272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 533.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 533.72 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 481.50 531.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 533.72 Td (272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 519.72 Td (Fixed income securities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 279.50 517.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 343.50 517.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 407.50 517.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 471.50 517.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 481.50 517.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 517.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 505.72 Td (U.S. Treasury) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.15 505.72 Td (107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 505.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 505.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 505.72 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 481.50 503.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 505.72 Td (107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 491.72 Td (Cash and cash equivalent funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 491.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 491.72 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 491.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 491.77 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 491.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.50 491.72 Td (\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 491.72 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 477.72 Td (Corporate debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 477.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 477.72 Td (88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 477.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 477.72 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 481.50 475.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 477.72 Td (88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 463.72 Td (Mortgage-backed securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 463.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 463.72 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 463.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 463.72 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 481.50 461.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 463.72 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 449.72 Td (Municipality bonds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 449.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 449.72 Td (71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 449.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 449.72 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 481.50 447.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 449.72 Td (71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 435.72 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 435.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 435.72 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 435.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 435.72 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 481.50 433.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 435.72 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 421.72 Td (Subtotal nuclear decommissioning trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.15 421.72 Td (107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 421.72 Td (538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 421.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 421.77 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 421.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 421.72 Td (642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 407.72 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.50 407.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.15 407.72 Td (107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.50 407.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 407.72 Td (547) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 407.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 407.72 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.50 407.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 407.77 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 407.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 407.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 407.72 Td (683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 393.72 Td (Liabilities) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 279.50 391.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 343.50 391.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 407.50 391.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 471.50 391.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 481.50 391.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 391.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 379.72 Td (Risk management activities derivative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 369.72 Td (instruments:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 279.50 367.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 343.50 367.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 407.50 367.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 471.50 367.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 481.50 367.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 367.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 355.72 Td (Commodity contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.50 355.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 355.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.50 355.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.80 355.77 Td (\(33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.15 355.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 355.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 355.77 Td (\(90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 355.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.50 355.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 355.72 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.50 355.72 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 355.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 355.77 Td (\(102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 355.72 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 318.05 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 318.05 Td (Primarily consists of heat rate options and other long-dated electricity contracts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 304.25 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 304.25 Td (Represents counterparty netting, mar) Tj ET Q q 0 0 0 rg BT 273.19 304.25 Td (gin and collateral. See Note 16.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 290.45 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 290.45 Td (Represents nuclear decommissioning trust net pending securities sales and purchases.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 276.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 262.85 Td (Fair) Tj ET Q q 0 0 0 rg BT 70.37 262.85 Td ( ) Tj ET Q q 0 0 0 rg BT 73.03 262.85 Td (V) Tj ET Q q 0 0 0 rg BT 80.28 262.85 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 141.08 262.85 Td (ements Classified as Level 3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 249.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 235.25 Td (The significant unobservable inputs used in the fair value measurement of our ener) Tj ET Q q 0 0 0 rg BT 466.59 235.25 Td (gy derivative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 221.45 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 49.50 207.65 Td (nature of the quote and option model inputs. Significant changes in these inputs in isolation would result in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 193.85 Td (significantly higher or lower fair value measurements. Changes in our derivative contract fair values, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 180.05 Td (including changes relating to unobservable inputs, typically will not impact net income due to regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 166.25 Td (accounting treatment \(see Note 3\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 152.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 138.65 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 49.50 124.85 Td (we would expect price increases of the underlying commodity to result in increases in the net fair value of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 111.05 Td (related contracts. Conversely) Tj ET Q q 0 0 0 rg BT 185.43 111.05 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 97.25 Td (related contracts would likely decrease.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 83.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 69.65 Td (Our option contracts classified as Level 3 primarily relate to purchase heat rate options. ) Tj ET Q q 0 0 0 rg BT 493.41 69.65 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 55.85 Td (significant unobservable inputs for these instruments include electricity prices, gas prices and volatilities. If ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 263 0 obj <>] /Rotate 0 /Contents 264 0 R>> endobj 264 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (128) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (electricity prices and electricity price volatilities increase, we would expect the fair value of these options to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (increase, and if these valuation inputs decrease, we would expect the fair value of these options to decrease. If ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (natural gas prices and natural gas price volatilities increase, we would expect the fair value of these options to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (decrease, and if these inputs decrease, we would expect the fair value of the options to increase. ) Tj ET Q q 0 0 0 rg BT 495.39 679.65 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (commodity prices and volatilities do not always move in corresponding directions. ) Tj ET Q q 0 0 0 rg BT 435.43 665.85 Td (The options) Tj ET Q q 0 0 0 rg BT 493.03 665.85 Td ( fair values are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (impacted by the net changes of these various inputs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 638.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.45 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 49.50 610.65 Td (impact on our valuations; however) Tj ET Q q 0 0 0 rg BT 208.72 610.65 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 49.50 596.85 Td (value measurements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 583.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 569.25 Td (The following tables provide information regarding our significant unobservable inputs used to value ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td (our risk management derivative Level 3 instruments at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.71 555.45 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 394.08 555.45 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 416.44 555.45 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 506.81 555.45 Td (:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 495.15 95.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 495.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 495.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 495.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 495.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 495.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.00 495.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 495.15 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 495.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 495.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 495.15 11.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 495.15 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 445.15 95.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 445.15 65.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 445.15 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 445.15 65.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 445.15 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 445.15 65.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.00 445.15 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 445.15 75.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 445.15 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 445.15 71.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 445.15 11.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 445.15 50.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 375.15 95.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 375.15 65.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 375.15 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 375.15 65.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 375.15 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 375.15 65.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.00 375.15 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 375.15 75.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 375.15 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 375.15 71.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 375.15 11.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 375.15 50.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 305.15 95.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 305.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 305.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 305.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 305.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 305.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.00 305.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 305.15 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 305.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 305.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 305.15 11.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 305.15 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 255.15 95.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 255.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 255.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 255.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 255.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 255.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.00 255.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 255.15 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 255.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 255.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 255.15 11.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 255.15 50.00 -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 145 510.15 m 210 510.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 510.15 m 214 510.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 510.15 m 279 510.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 495.15 m 145 495.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145 495.15 m 210 495.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 495.15 m 279 495.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 495.15 m 348 495.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352 495.15 m 427 495.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 495.15 m 502 495.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 495.15 m 563 495.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145 255.14999999999998 m 210 255.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 255.14999999999998 m 279 255.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145 255.14999999999998 m 210 255.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145 241.14999999999998 m 210 241.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145 239.14999999999998 m 210 239.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 255.14999999999998 m 279 255.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 241.14999999999998 m 279 241.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 239.14999999999998 m 279 239.14999999999998 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 512.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 179.25 522.38 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 175.45 514.38 Td ( Fair Value \(millions\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.45 507.38 Td (Valuation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 297.35 499.38 Td (Technique) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.55 507.38 Td (Significant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.85 499.38 Td (UnobservableInput) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.10 499.38 Td (Range) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.90 507.38 Td (Weighted-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.55 499.38 Td (Average) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 499.38 Td (CommodityContracts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 166.30 499.38 Td (Assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 228.85 499.38 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 484.82 Td (Electricity:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 206.50 482.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 275.50 482.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 344.50 482.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 423.50 482.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 498.50 482.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 482.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 470.72 Td (Forward Contracts \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 470.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.15 470.72 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.50 470.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 470.72 Td (56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.50 470.72 Td (Discounted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.50 460.72 Td (cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 469.82 Td (Electricity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 459.82 Td (forward price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 449.82 Td (\(per MWh\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.30 449.82 Td ($19.51 - $56.72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.50 449.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 449.82 Td (35.27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 435.72 Td (Option Contracts \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.15 435.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 435.72 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.50 435.72 Td (Option model) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 434.82 Td (Electricity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 424.82 Td (forward price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 414.82 Td (\(per MWh\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.30 414.82 Td ($32.14 - $66.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.50 414.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 414.82 Td (45.83) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 377.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 206.50 377.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 275.50 377.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 285.50 377.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 399.82 Td (Natural gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 389.82 Td (forward price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 379.82 Td (\(per MMbtu\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.30 379.82 Td ($3.18 - $3.29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.50 379.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 379.82 Td (3.25) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 342.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 206.50 342.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 275.50 342.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 285.50 342.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 354.82 Td (Electricity price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 344.82 Td (volatilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.50 344.82 Td (23% - 63%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 344.82 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 344.82 Td (%) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 307.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 206.50 307.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 275.50 307.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 285.50 307.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 319.82 Td (Natural gas price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 309.82 Td (volatilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.50 309.82 Td (23% - 41%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 309.82 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 309.82 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 295.72 Td (Natural Gas:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 206.50 292.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 275.50 292.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 285.50 292.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 354.50 292.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 466.00 292.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 292.91 Td () Tj ET Q BT 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244.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 244.82 Td (74) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 285.50 242.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 354.50 242.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 466.00 242.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 242.91 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 207.05 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 207.05 Td (Includes swaps and physical and financial contracts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 193.25 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 193.25 Td (Electricity and natural gas price volatilities are estimated based on historical forward price ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 179.45 Td (movements due to lack of market quotes for implied volatilities.) 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696.73 Td (Assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 227.35 696.73 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 682.17 Td (Electricity:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 207.50 680.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 271.50 680.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 340.50 680.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 680.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 465.50 680.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 680.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 668.07 Td (Forward Contracts \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.50 668.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.15 668.07 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.50 668.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.15 668.07 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.50 668.07 Td (Discounted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.50 658.07 Td (cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 667.17 Td (Electricity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 657.17 Td (forward price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 647.17 Td (\(per MWh\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.80 647.17 Td ($24.89 - $65.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 647.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 647.17 Td (41.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 633.07 Td (Option Contracts \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.15 633.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.15 633.07 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.50 633.07 Td (Option model) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 632.17 Td (Electricity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 622.17 Td (forward price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 612.17 Td (\(per MWh\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.80 612.17 Td ($39.91 - $85.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 612.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 612.17 Td (58.70) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 575.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 207.50 575.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 271.50 575.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.50 575.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 597.17 Td (Natural gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 587.17 Td (forward price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 577.17 Td (\(per MMbtu\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.80 577.17 Td ($3.57 - $3.80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 577.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 577.17 Td (3.71) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 530.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 207.50 530.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 271.50 530.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.50 530.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 542.17 Td (Electricity price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 532.17 Td (volatilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 532.17 Td (35% - 94%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 532.17 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 532.17 Td (%) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 52.50 485.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 207.50 485.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 271.50 485.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.50 485.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 497.17 Td (Natural gas price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 487.17 Td (volatilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 487.17 Td (22% - 36%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 487.17 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 487.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 473.07 Td (Natural Gas:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 207.50 470.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 271.50 470.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 281.50 470.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 350.50 470.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 465.50 470.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 470.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 437.17 Td (Forward Contracts \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.15 437.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.15 437.17 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.50 447.17 Td (Discounted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.50 437.17 Td (cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 457.17 Td (Natural gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 447.17 Td (forward price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 437.17 Td (\(per MMbtu\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.80 437.17 Td ($3.47 - $4.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 437.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 437.17 Td (3.87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 422.17 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.50 422.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.15 422.17 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.50 422.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.15 422.17 Td (90) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 340.50 420.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 420.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 465.50 420.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 420.26 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 384.40 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 384.40 Td (Includes swaps and physical and financial contracts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 370.60 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 370.60 Td (Electricity and natural gas price volatilities are estimated based on historical forward price ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 356.80 Td (movements due to lack of market quotes for implied volatilities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 343.00 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 329.20 Td (The following table shows the changes in fair value for our risk management activities) Tj ET Q q 0 0 0 rg BT 486.71 329.20 Td ( assets and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 315.40 Td (liabilities that are measured at fair value on a recurring basis using Level 3 inputs for the years ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 301.60 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.87 301.60 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 162.23 301.60 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 185.23 301.60 Td ( \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 287.80 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 245.30 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 245.30 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 245.30 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 245.30 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 245.30 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 217.30 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 217.30 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 217.30 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 217.30 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 217.30 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 189.30 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 189.30 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 189.30 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 189.30 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 189.30 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 161.30 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 161.30 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 161.30 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 161.30 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 161.30 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 133.30 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 133.30 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 133.30 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 133.30 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 133.30 58.00 -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 443 257.29999999999995 m 501 257.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 257.29999999999995 m 505 257.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 257.29999999999995 m 563 257.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 245.29999999999995 m 439 245.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 257.29999999999995 m 501 257.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 245.29999999999995 m 501 245.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 257.29999999999995 m 505 257.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 257.29999999999995 m 563 257.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 245.29999999999995 m 563 245.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 245.29999999999995 m 501 245.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 245.29999999999995 m 563 245.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 133.29999999999995 m 501 133.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 120.29999999999995 m 501 120.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 118.29999999999995 m 501 118.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 133.29999999999995 m 563 133.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 120.29999999999995 m 563 120.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 118.29999999999995 m 563 118.29999999999995 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 260.02 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 482.45 269.38 Td (Y) Tj ET Q q 0 0 0 rg BT 487.34 269.38 Td (ear) Tj ET Q q 0 0 0 rg BT 498.30 269.38 Td (Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.25 261.38 Td (December) Tj ET Q q 0 0 0 rg BT 513.75 261.38 Td (31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 249.38 Td (CommodityContracts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.50 249.38 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.50 249.38 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 235.87 Td (Net derivative balance at beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 235.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.80 235.92 Td (\(49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 235.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 235.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.80 235.92 Td (\(48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 235.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 221.87 Td (Total net gains \(losses\) realized/unrealized:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 497.50 220.06 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 220.06 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 207.87 Td (Included in earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 207.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 207.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 193.87 Td (Included in OCI) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 193.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 193.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 179.87 Td (Deferred as a regulatory asset or liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 179.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.80 179.92 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 179.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 165.87 Td (Settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 165.87 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 165.87 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 151.87 Td (Transfers into Level 3 from Level 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.80 151.92 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 151.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 151.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 137.87 Td (Transfers from Level 3 into Level 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.80 137.92 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 137.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.80 137.92 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 137.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 123.87 Td (Net derivative balance at end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 123.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.80 123.92 Td (\(41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 123.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 123.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.80 123.92 Td (\(49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 123.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 99.97 Td (Net unrealized gains included in earnings related to instruments still held at end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 99.97 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 99.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 99.97 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 99.97 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 82.00 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 68.20 Td (Amounts included in earnings are recorded in either operating revenues or fuel and purchased power ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 54.45 Td (depending on the nature of the underlying contract.) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 267 0 obj <>] /Rotate 0 /Contents 268 0 R>> endobj 268 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (130) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.25 Td (T) Tj ET Q q 0 0 0 rg BT 92.12 707.25 Td (ransfers reflect the fair market value at the beginning of the period and are triggered by a change in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (the lowest significant input as of the end of the period. ) Tj ET Q q 0 0 0 rg BT 305.75 693.45 Td (W) Tj ET Q q 0 0 0 rg BT 315.69 693.45 Td (e had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 343.14 693.45 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 354.64 693.45 Td ( significant Level 1 transfers to or from any ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (other hierarchy level. ) Tj ET Q q 0 0 0 rg BT 153.06 679.65 Td (T) Tj ET Q q 0 0 0 rg BT 159.69 679.65 Td (ransfers in or out of Level 3 are typically related to our long-dated ener) Tj ET Q q 0 0 0 rg BT 486.79 679.65 Td (gy transactions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (that extend beyond available quoted periods.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 652.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (Financial Instruments Not Carried at Fair) Tj ET Q q 0 0 0 rg BT 257.24 638.25 Td ( ) Tj ET Q q 0 0 0 rg BT 259.90 638.25 Td (V) Tj ET Q q 0 0 0 rg BT 267.15 638.25 Td (alue) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.65 Td (The carrying value of our net accounts receivable, accounts payable and short-term borrowings ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (approximate fair value. Our short-term borrowings are classified within Level 2 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 540.85 596.85 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (See Note 6 for our long-term debt fair values.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 569.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td (14.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.88 555.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.38 555.45 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 89.25 555.45 Td (Earnings Per) Tj ET Q q 0 0 0 rg BT 153.89 555.45 Td ( Shar) Tj ET Q q 0 0 0 rg BT 180.20 555.45 Td (e) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 527.85 Td (The following table presents the calculation of Pinnacle ) Tj ET Q q 0 0 0 rg BT 344.61 527.85 Td (W) Tj ET Q q 0 0 0 rg BT 354.54 527.85 Td (est) Tj ET Q q 0 0 0 rg BT 370.51 527.85 Td (s basic and diluted earnings per share for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (continuing operations attributable to common shareholders for the years ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 414.21 514.05 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 504.58 514.05 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 510.33 514.05 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 533.33 514.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 500.25 Td ( \(in thousands, except per share amounts\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 474.75 310.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 474.75 64.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 474.75 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 474.75 64.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 474.75 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 474.75 64.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 431.75 310.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 431.75 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 431.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 431.75 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 431.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 431.75 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 388.75 310.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 388.75 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 388.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 388.75 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 388.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 388.75 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 352.75 310.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 352.75 64.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 352.75 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 352.75 64.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 352.75 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 352.75 64.00 -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 360 489.75 m 424 489.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 489.75 m 428 489.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 489.75 m 492 489.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 489.75 m 560 489.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 474.75 m 424 474.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 448.75 m 424 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 446.75 m 424 446.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 474.75 m 492 474.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 448.75 m 492 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 446.75 m 492 446.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 474.75 m 560 474.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 448.75 m 560 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 446.75 m 560 446.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 388.75 m 424 388.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 373.75 m 424 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 371.75 m 424 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 388.75 m 492 388.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 373.75 m 492 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 371.75 m 492 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 388.75 m 560 388.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 373.75 m 560 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 371.75 m 560 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 326.75 m 424 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 324.75 m 424 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 326.75 m 492 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 324.75 m 492 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 326.75 m 560 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 324.75 m 560 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 324.75 m 424 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 326.75 m 424 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 299.75 m 424 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 297.75 m 424 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 324.75 m 492 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 326.75 m 492 326.75 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 492 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 297.75 m 492 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 324.75 m 560 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 326.75 m 560 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 299.75 m 560 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 297.75 m 560 297.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 479.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 479.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.50 479.43 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 479.43 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 452.42 Td (Income from continuing operations attributable to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 452.42 Td (397,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.65 452.42 Td (406,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.50 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 452.42 Td (387,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 436.42 Td (Weighted average common shares outstanding basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 436.42 Td (110,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.65 436.42 Td (109,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 436.42 Td (109,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 420.42 Td (Net effect of dilutive securities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 420.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.50 420.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.50 420.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 393.42 Td (Contingently issuable performance shares and restricted stock units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 393.42 Td (552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 393.42 Td (822) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 393.42 Td (1,017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 377.42 Td (Weighted average common shares outstanding diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 377.42 Td (111,178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.65 377.42 Td (110,806) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 377.42 Td (110,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 357.42 Td (Earnings per average common share outstanding:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 340.42 Td (Income from continuing operations attributable to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 330.42 Td ( basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 330.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 330.42 Td (3.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 330.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 330.42 Td (3.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.50 330.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 330.42 Td (3.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 313.42 Td (Income from continuing operations attributable to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 303.42 Td ( diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 303.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 303.42 Td (3.58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 303.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 303.42 Td (3.66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.50 303.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 303.42 Td (3.50) Tj ET Q BT /F1 11.50 Tf ET BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 271.65 Td (15.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.88 271.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.38 271.65 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 89.25 271.65 Td (Stock-Based Compensation) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 257.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 244.05 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 244.05 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 244.05 Td (est grants long-term incentive awards under the 2012 Long-T) Tj ET Q q 0 0 0 rg BT 419.21 244.05 Td (erm Incentive Plan \(2012 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.25 Td (Plan\) in the form of Stock Grants, Restricted Stock Units, Stock Units and Performance Shares and may grant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.45 Td (restricted stock, dividend equivalents, performance share units, performance cash, incentive and non-qualified ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.65 Td (stock options, and stock appreciation rights. ) Tj ET Q q 0 0 0 rg BT 257.22 202.65 Td (The 2012 Plan, ef) Tj ET Q q 0 0 0 rg BT 338.77 202.65 Td (fective May16, 2012, provides ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 485.36 202.65 Td (4,595,500) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.36 202.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 188.85 Td (common shares to be available for grant to eligible employees and members of the Board of Directors. ) Tj ET Q q 0 0 0 rg BT 526.30 188.85 Td (A) Tj ET Q q 0 0 0 rg BT 533.54 188.85 Td (wards ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 175.05 Td (made since 2012 were issued under the 2012 Plan, and prior awards from 2007 to 201) Tj ET Q q 0 0 0 rg BT 444.46 175.05 Td (1 were issued under the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.25 Td (2007 Long-T) Tj ET Q q 0 0 0 rg BT 109.70 161.25 Td (erm Incentive Plan \(2007 Plan\).) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 133.65 Td (Restricted Stock Unit ) Tj ET Q q 0 0 0 rg BT 157.14 133.65 Td (A) Tj ET Q q 0 0 0 rg BT 164.59 133.65 Td (wards, Stock Unit ) Tj ET Q q 0 0 0 rg BT 254.69 133.65 Td (A) Tj ET Q q 0 0 0 rg BT 262.14 133.65 Td (wards and Stock Grants) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 119.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 106.05 Td (Stock grants issued to non-of) Tj ET Q q 0 0 0 rg BT 219.45 106.05 Td (ficer members of the Board of Directors in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 418.72 106.05 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.72 106.05 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 447.47 106.05 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 470.47 106.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 492.82 106.05 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 515.82 106.05 Td ( provided ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 92.25 Td (the members of the Board of Directors the option to elect to receive a stock grant, or to defer receipt until a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 78.45 Td (later date and receive restricted stock units in 2012 and stock units in 2013 and 2014 in lieu of the stock grant. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 64.65 Td (The members of the Board of Directors who elect to defer may elect to receive payment in either stock, or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.31 64.65 Td (50%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 561.39 64.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 50.85 Td (in cash and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 104.11 50.85 Td (50%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 125.19 50.85 Td ( in stock. ) Tj ET Q q 0 0 0 rg BT 172.58 50.85 Td (The members of the Board of Directors may elect to receive payments either as of ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 269 0 obj <>] /Rotate 0 /Contents 270 0 R>> endobj 270 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (131) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (the last business day of the month following the month in which they separate from service on the Board of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (Directors, or as of a specified date, which must be after December31 of the year in which the grant was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (received. ) Tj ET Q q 0 0 0 rg BT 96.86 693.45 Td (The deferred restricted stock units and stock units accrue dividend rights, equal to the amount of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (dividends the Directors would have received had they directly owned stock equal to the number of vested ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (restricted stock units or stock units from the date of grant to the date of payment plus interest compounded ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (quarterly) Tj ET Q q 0 0 0 rg BT 90.26 652.05 Td (. ) Tj ET Q q 0 0 0 rg BT 98.68 652.05 Td (The dividends and interest are paid, based on the Director) Tj ET Q q 0 0 0 rg BT 364.80 652.05 Td () Tj ET Q q 0 0 0 rg BT 367.99 652.05 Td (s election, in either stock, or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.85 652.05 Td (50%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.93 652.05 Td ( in cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 68.98 638.25 Td (50%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 90.06 638.25 Td ( in stock.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.65 Td (Restricted stock units have been granted to of) Tj ET Q q 0 0 0 rg BT 295.11 610.65 Td (ficers and key employees in each year since 2008. From ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (2008 through 2009, of) Tj ET Q q 0 0 0 rg BT 152.15 596.85 Td (ficers and key employees elected to receive payment in either cash or in fully ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (transferable shares of stock, in exchange for each restricted stock unit on pre-established valuation dates. From ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (2010 through 2014, of) Tj ET Q q 0 0 0 rg BT 152.15 569.25 Td (ficers and key employees elected to receive payment in either stock, or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 480.73 569.25 Td (50%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 501.81 569.25 Td ( in cash and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td (50%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.58 555.45 Td ( in stock.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 541.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 527.85 Td (Restricted stock unit awards vest and settle over a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 317.67 527.85 Td (4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 323.42 527.85 Td (-year period. In addition, of) Tj ET Q q 0 0 0 rg BT 453.19 527.85 Td (ficers and key ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (employees accrue dividend rights on vested restricted stock units, equal to the amount of dividends that they ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (would have received had they directly owned stock, equal to the number of vested restricted stock units from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.45 Td (the date of grant to the date of payment plus interest compounded quarterly) Tj ET Q q 0 0 0 rg BT 394.93 486.45 Td (. ) Tj ET Q q 0 0 0 rg BT 403.35 486.45 Td (The dividends and interest for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.65 Td (2008 and 2009 awards were paid in cash. ) Tj ET Q q 0 0 0 rg BT 244.74 472.65 Td (The dividends and interest for the 2010 through 2014 awards are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (paid in the same form as the restricted stock unit payment election. Restricted stock unit awards are accounted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.05 Td (for as a liability award, with compensation cost initially calculated on the date of grant using the Company) Tj ET Q q 0 0 0 rg BT 543.24 445.05 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (closing stock price, and remeasured at each balance sheet date. Compensation expense for retirement eligible ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.45 Td (participants is recognized immediately) Tj ET Q q 0 0 0 rg BT 226.63 417.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 403.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 389.85 Td (In December2012, the Company granted a retention award of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.86 389.85 Td (50,617) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.48 389.85 Td ( restricted stock units to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.05 Td (Chairman of the Board, President, and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 318.19 376.05 Td (ficer of Pinnacle ) Tj ET Q q 0 0 0 rg BT 396.86 376.05 Td (W) Tj ET Q q 0 0 0 rg BT 406.79 376.05 Td (est. ) Tj ET Q q 0 0 0 rg BT 427.98 376.05 Td (The award will vest and will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.25 Td (be paid in shares of common stock on December31, 2016, provided that he remains employed with the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.45 Td (Company until the vesting date. ) Tj ET Q q 0 0 0 rg BT 201.65 348.45 Td (The award will accrue notional dividends equal to the amount of dividends ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.65 Td (that would have been received if the Chairman of the Board, President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 484.88 334.65 Td (ficer had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.85 Td (directly owned ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.03 320.85 Td (one) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 137.64 320.85 Td ( share of Pinnacle ) Tj ET Q q 0 0 0 rg BT 222.38 320.85 Td (W) Tj ET Q q 0 0 0 rg BT 232.31 320.85 Td (est common stock for each restricted stock unit held from the grant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.05 Td (date to each dividend payment date. ) Tj ET Q q 0 0 0 rg BT 220.45 307.05 Td (The award can be increased up to an additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 439.82 307.05 Td (33,745) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.45 307.05 Td ( restricted stock ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (units payable in stock if certain performance requirements are met.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 279.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.65 Td (A) Tj ET Q q 0 0 0 rg BT 93.17 265.65 Td ( grant of restricted stock unit awards was made to of) Tj ET Q q 0 0 0 rg BT 333.76 265.65 Td (ficers of the company on February15, 201) Tj ET Q q 0 0 0 rg BT 529.42 265.65 Td (1, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.85 Td (payable solely in shares of common stock upon the of) Tj ET Q q 0 0 0 rg BT 296.81 251.85 Td (ficer) Tj ET Q q 0 0 0 rg BT 318.30 251.85 Td () Tj ET Q q 0 0 0 rg BT 321.50 251.85 Td (s retirement or other separation of employment. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.05 Td (This award vested ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 136.04 238.05 Td (50%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.12 238.05 Td ( on February15, 2013 and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 281.37 238.05 Td (25%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 302.45 238.05 Td ( on February15, 2014. ) Tj ET Q q 0 0 0 rg BT 412.75 238.05 Td (The remaining award will vest ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (25%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.58 224.25 Td ( on February15, 2015, provided that the of) Tj ET Q q 0 0 0 rg BT 268.39 224.25 Td (ficer remains employed on such date. ) Tj ET Q q 0 0 0 rg BT 445.73 224.25 Td (The of) Tj ET Q q 0 0 0 rg BT 475.86 224.25 Td (ficers will also ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.45 Td (accrue notional dividends equal to the amount of dividends that they would have received if they had directly ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.65 Td (owned ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 83.03 196.65 Td (one) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.64 196.65 Td ( share of Pinnacle ) Tj ET Q q 0 0 0 rg BT 184.38 196.65 Td (W) Tj ET Q q 0 0 0 rg BT 194.31 196.65 Td (est common stock for each restricted stock unit held from the grant date to each ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.85 Td (dividend payment date. Each additional restricted stock unit will proportionally vest on the same remaining ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.05 Td (vesting schedule that applies to the original restricted stock unit.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 155.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 141.45 Td (The following table is a summary of granted restricted stock units, stock units and stock grants and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.65 Td (weighted-average fair value for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 213.93 127.65 Td (3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 219.68 127.65 Td ( years ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 280.03 127.65 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.03 127.65 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 308.78 127.65 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 331.78 127.65 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 354.13 127.65 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 377.13 127.65 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 105.15 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 105.15 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 105.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 105.15 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 105.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 105.15 65.00 -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 359 105.14999999999998 m 424 105.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 105.14999999999998 m 493 105.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 105.14999999999998 m 562 105.14999999999998 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 107.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 109.23 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 109.23 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 109.23 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 95.72 Td (Units granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 95.72 Td (130,273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 95.72 Td (129,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 95.72 Td (202,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 81.72 Td (Grant date fair value \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 81.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 81.72 Td (54.91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 81.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 81.72 Td (55.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 81.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 81.72 Td (49.31) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 60.85 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 60.85 Td (W) Tj ET Q q 0 0 0 rg BT 113.43 60.85 Td (eighted-average grant date fair value.) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 271 0 obj <>] /Rotate 0 /Contents 272 0 R>> endobj 272 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (132) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.25 Td (The following table is a summary of the status of restricted stock units, stock units and stock grants, as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 61.95 693.45 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 152.33 693.45 Td ( and changes during the year) Tj ET Q q 0 0 0 rg BT 283.58 693.45 Td (. ) Tj ET Q q 0 0 0 rg BT 291.99 693.45 Td (This table represents only the stock portion of restricted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (stock units and stock units, per the election on payment discussed in the paragraph above:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 626.35 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 626.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 626.35 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 626.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 626.35 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 596.35 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 596.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 596.35 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 596.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 596.35 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 566.35 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 566.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 566.35 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 566.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 566.35 74.00 -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 50 626.35 m 408 626.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 626.35 m 485 626.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 626.35 m 563 626.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 626.35 m 408 626.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 626.35 m 485 626.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 626.35 m 563 626.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 566.35 m 485 566.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 552.35 m 485 552.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 550.35 m 485 550.35 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 630.58 Td (Nonvestedshares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.50 630.58 Td (Shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 646.58 Td (W) Tj ET Q q 0 0 0 rg BT 501.56 646.58 Td (eighted-A) Tj ET Q q 0 0 0 rg BT 534.29 646.58 Td (verage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.05 638.58 Td (GrantDate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.65 630.58 Td (Fair) Tj ET Q q 0 0 0 rg BT 522.17 630.58 Td () Tj ET Q q 0 0 0 rg BT 524.02 630.58 Td (V) Tj ET Q q 0 0 0 rg BT 529.06 630.58 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 616.92 Td (Nonvested at January 1, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 616.02 Td (397,976) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.50 616.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 616.02 Td (47.74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 601.92 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 601.02 Td (130,273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 601.02 Td (54.91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 586.92 Td (Vested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.30 586.07 Td (\(161,283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 586.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 586.02 Td (45.55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 571.92 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.30 571.07 Td (\(13,067) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 571.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 571.02 Td (51.53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 556.92 Td (Nonvested at December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 556.02 Td (353,899) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 556.02 Td (51.23) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 538.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 524.25 Td (The amount of cash required to settle the payments on restricted stock units is \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 510.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 487.95 327.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 487.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 487.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 487.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 487.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 487.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 487.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 459.95 327.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 459.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 459.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 459.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 459.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 459.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 459.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 431.95 327.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 431.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 431.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 431.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 431.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 431.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 431.95 58.00 -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 50 487.95 m 377 487.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 487.95 m 439 487.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 487.95 m 501 487.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 487.95 m 563 487.95 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 492.03 Td (Year) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.50 492.03 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.50 492.03 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.50 492.03 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 478.52 Td (2008 Grant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 478.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 478.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 478.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 478.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 478.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 478.52 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 464.52 Td (2009 Grant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 464.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 464.52 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 464.52 Td (1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 450.52 Td (2010 Grant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 450.52 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 450.52 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 450.52 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 436.52 Td (2011 Grant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 436.52 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 436.52 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 436.52 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 422.52 Td (2012 Grant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 422.52 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 422.52 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 422.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 408.52 Td (2013 Grant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 408.52 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 408.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 408.52 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 390.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 376.85 Td (Performance Shar) Tj ET Q q 0 0 0 rg BT 139.67 376.85 Td (e ) Tj ET Q q 0 0 0 rg BT 147.01 376.85 Td (A) Tj ET Q q 0 0 0 rg BT 154.46 376.85 Td (wards) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 363.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 349.25 Td (Performance share awards have been granted to of) Tj ET Q q 0 0 0 rg BT 317.43 349.25 Td (ficers and key employees under the 2012 Plan since ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 335.45 Td (2012 and under the 2007 Plan from 2009 to 201) Tj ET Q q 0 0 0 rg BT 269.78 335.45 Td (1. Performance share awards contain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 445.09 335.45 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.34 335.45 Td ( performance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.65 Td (element criteria that af) Tj ET Q q 0 0 0 rg BT 153.05 321.65 Td (fect the number of shares received after the end of a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 394.76 321.65 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 417.74 321.65 Td (-year performance period if ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.85 Td (performance criteria conditions are met.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 294.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 280.25 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 106.25 280.25 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 129.25 280.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 135.00 280.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 158.00 280.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 180.36 280.25 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 203.36 280.25 Td ( performance share grant criteria is based ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 395.89 280.25 Td (50%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 416.97 280.25 Td ( upon the percentile ranking of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 266.45 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 266.45 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 266.45 Td (est) Tj ET Q q 0 0 0 rg BT 117.67 266.45 Td (s total shareholder return at the end of the three-year performance period, as compared with the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 252.65 Td (total shareholder return of all relevant companies in a specified utility index and the other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.33 252.65 Td (50%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 485.40 252.65 Td ( is based upon ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.85 Td (six) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 62.92 238.85 Td ( non-financial separate performance metrics. ) Tj ET Q q 0 0 0 rg BT 273.77 238.85 Td (The exact number of shares issued will vary from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 504.66 238.85 Td (0%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 519.99 238.85 Td ( to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 534.69 238.85 Td (200%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 561.51 238.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 225.05 Td (of the tar) Tj ET Q q 0 0 0 rg BT 90.80 225.05 Td (get award. Shares received include dividend rights paid in stock equal to the amount of dividends that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 211.25 Td (they would have received had they directly owned stock, equal to the number of vested performance shares ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 197.45 Td (from the date of grant to the date of payment plus interest compounded quarterly) Tj ET Q q 0 0 0 rg BT 420.16 197.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 183.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 169.85 Td (Performance share awards are accounted for as liability awards, with compensation cost initially ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 156.05 Td (calculated on the date of grant using the Company) Tj ET Q q 0 0 0 rg BT 283.91 156.05 Td (s closing stock price, and remeasured at each balance sheet ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 142.25 Td (date. Compensation expense for retirement eligible participants is recognized immediately) Tj ET Q q 0 0 0 rg BT 467.42 142.25 Td (. Management also ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 128.45 Td (evaluates the probability of meeting the performance criteria at each balance sheet date. If performance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 114.65 Td (criteria are not achieved, no compensation cost is recognized and any previously recognized compensation cost ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.85 Td (is reversed.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 87.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 73.25 Td (The following table is a summary of the performance shares granted and the weighted-average fair ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 59.45 Td (value for the three years ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 193.82 59.45 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 216.82 59.45 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 222.57 59.45 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.57 59.45 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 267.92 59.45 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 290.92 59.45 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 273 0 obj <>] /Rotate 0 /Contents 274 0 R>> endobj 274 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (133) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 698.55 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 698.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 698.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 698.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 698.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 698.55 65.00 -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 359 698.55 m 424 698.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 698.55 m 493 698.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 698.55 m 562 698.55 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 701.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 702.63 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 702.63 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 702.63 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 689.12 Td (Units granted \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 689.12 Td (166,244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 689.12 Td (176,332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 689.12 Td (185,878) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 675.12 Td (Grant date fair value \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 675.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 675.12 Td (54.86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 675.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 675.12 Td (55.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 675.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 675.12 Td (47.40) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 637.45 Td (\(a\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.26 637.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.26 637.45 Td ( Reflects the tar) Tj ET Q q 0 0 0 rg BT 194.54 637.45 Td (get payout level.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 623.65 Td (\(b\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.91 623.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.91 623.65 Td ( ) Tj ET Q q 0 0 0 rg BT 125.58 623.65 Td (W) Tj ET Q q 0 0 0 rg BT 135.51 623.65 Td (eighted-average grant date fair value.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 609.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 596.05 Td (The following table is a summary of the status of performance shares as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.68 596.05 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.06 596.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.25 Td (changes during the year:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 528.95 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 528.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 528.95 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 528.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 528.95 74.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 500.95 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 500.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 500.95 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 500.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 500.95 74.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 472.95 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 472.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 472.95 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 472.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 472.95 74.00 -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 50 528.95 m 408 528.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 528.95 m 485 528.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 528.95 m 563 528.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 528.95 m 408 528.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 528.95 m 485 528.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 528.95 m 563 528.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 458.95 m 485 458.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 445.95 m 485 445.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 443.95 m 485 443.95 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 533.18 Td (Nonvestedshares\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.50 533.18 Td (Shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 549.18 Td (W) Tj ET Q q 0 0 0 rg BT 501.56 549.18 Td (eighted-A) Tj ET Q q 0 0 0 rg BT 534.29 549.18 Td (verage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.05 541.18 Td (GrantDate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.65 533.18 Td (Fair) Tj ET Q q 0 0 0 rg BT 522.17 533.18 Td () Tj ET Q q 0 0 0 rg BT 524.02 533.18 Td (V) Tj ET Q q 0 0 0 rg BT 529.06 533.18 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 519.52 Td (Nonvested at January 1, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 519.52 Td (344,396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.50 519.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 519.52 Td (51.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 505.52 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 505.52 Td (166,244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 505.52 Td (54.86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 491.52 Td (Increase in performance factor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 491.52 Td (86,558) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 491.52 Td (47.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 477.52 Td (Vested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.30 477.57 Td (\(258,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 477.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 477.52 Td (47.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 463.52 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.30 463.57 Td (\(14,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 463.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 463.52 Td (53.30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 449.52 Td (Nonvested at December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 449.52 Td (324,230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 449.52 Td (54.92) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 411.85 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 411.85 Td (Nonvested shares are reflected at tar) Tj ET Q q 0 0 0 rg BT 270.28 411.85 Td (get payout level. ) Tj ET Q q 0 0 0 rg BT 352.14 411.85 Td (The increase or decrease in the number of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 398.05 Td (shares from the tar) Tj ET Q q 0 0 0 rg BT 189.19 398.05 Td (get level to the estimated actual payout level is included in the increase for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 384.25 Td (performance factor amounts in the year the award vests.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 370.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 356.65 Td (Stock Options) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 342.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 329.05 Td (The Company has not granted stock options since 2004 and has no stock options outstanding. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 301.45 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.61 301.45 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 203.98 301.45 Td (, there was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.35 301.45 Td ($15 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 309.70 301.45 Td ( of total unrecognized compensation cost related to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 287.65 Td (nonvested share-based compensation arrangements granted under the plans. ) Tj ET Q q 0 0 0 rg BT 403.76 287.65 Td (That cost is expected to be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 273.85 Td (recognized over a weighted-average period of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 263.42 273.85 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 269.17 273.85 Td ( years. ) Tj ET Q q 0 0 0 rg BT 304.73 273.85 Td (The total fair value of shares vested during ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 504.64 273.85 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.64 273.85 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 533.39 273.85 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 556.39 273.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 260.05 Td (and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 68.98 260.05 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 91.98 260.05 Td ( was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 115.61 260.05 Td ($20 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 168.97 260.05 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 174.72 260.05 Td ($20 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 228.07 260.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 250.42 260.05 Td ($19 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.77 260.05 Td (, respectively) Tj ET Q q 0 0 0 rg BT 364.34 260.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 246.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 232.45 Td (The compensation cost that has been char) Tj ET Q q 0 0 0 rg BT 276.90 232.45 Td (ged against Pinnacle ) Tj ET Q q 0 0 0 rg BT 374.09 232.45 Td (W) Tj ET Q q 0 0 0 rg BT 384.03 232.45 Td (est) Tj ET Q q 0 0 0 rg BT 400.00 232.45 Td (s income for share-based ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 218.65 Td (compensation plans was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 164.16 218.65 Td ($33 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 217.51 218.65 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.21 218.65 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 255.21 218.65 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 260.96 218.65 Td ($25 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 314.31 218.65 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 329.00 218.65 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 352.00 218.65 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 377.23 218.65 Td ($32 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.59 218.65 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 445.28 218.65 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.28 218.65 Td (. ) Tj ET Q q 0 0 0 rg BT 476.70 218.65 Td (The compensation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 204.85 Td (cost that Pinnacle ) Tj ET Q q 0 0 0 rg BT 133.29 204.85 Td (W) Tj ET Q q 0 0 0 rg BT 143.22 204.85 Td (est has capitalized is immaterial for all years. Pinnacle ) Tj ET Q q 0 0 0 rg BT 398.80 204.85 Td (W) Tj ET Q q 0 0 0 rg BT 408.74 204.85 Td (est) Tj ET Q q 0 0 0 rg BT 424.71 204.85 Td (s total income tax benefit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 191.05 Td (recognized in the Consolidated Statements of Income for share-based compensation arrangements was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 524.05 191.05 Td ($13 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 177.25 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 177.25 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 97.42 177.25 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 120.42 177.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 126.17 177.25 Td ($10 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 179.52 177.25 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 194.22 177.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 217.22 177.25 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 242.45 177.25 Td ($13 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 295.80 177.25 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 310.50 177.25 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.50 177.25 Td (. ) Tj ET Q q 0 0 0 rg BT 341.49 177.25 Td (APS) Tj ET Q q 0 0 0 rg BT 365.78 177.25 Td (s share of compensation cost that has been ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 163.45 Td (char) Tj ET Q q 0 0 0 rg BT 69.08 163.45 Td (ged against income was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 181.50 163.45 Td ($33 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 234.85 163.45 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 249.54 163.45 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 272.54 163.45 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 278.29 163.45 Td ($25 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 331.64 163.45 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 346.34 163.45 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.34 163.45 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 394.57 163.45 Td ($32 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 447.92 163.45 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.62 163.45 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 485.62 163.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 149.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 135.85 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 135.85 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 135.85 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 135.85 Td (s current policy is to issue new shares to satisfy share requirements for stock ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 122.05 Td (compensation plans, and it does not expect to repurchase any shares except to satisfy tax withholding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 108.25 Td (obligations upon the vesting of restricted stock units and performance shares.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 94.45 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 275 0 obj <>] /Rotate 0 /Contents 276 0 R>> endobj 276 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (134) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 721.25 Td (16.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.88 721.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.38 721.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 89.25 721.25 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 142.58 721.25 Td (Accounting) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.65 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 693.65 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 49.50 679.85 Td (electricity) Tj ET Q q 0 0 0 rg BT 94.73 679.85 Td (, natural gas, coal, emissions allowances and in interest rates. ) Tj ET Q q 0 0 0 rg BT 381.62 679.85 Td (W) Tj ET Q q 0 0 0 rg BT 391.56 679.85 Td (e manage risks associated with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.05 Td (market volatility by utilizing various physical and financial derivative instruments, including futures, forwards, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.25 Td (options and swaps. ) Tj ET Q q 0 0 0 rg BT 141.82 652.25 Td (As part of our overall risk management program, we may use derivative instruments to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.45 Td (hedge purchases and sales of electricity and fuels. Derivative instruments that meet certain hedge accounting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.65 Td (criteria may be designated as cash flow hedges and are used to limit our exposure to cash flow variability on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.85 Td (forecasted transactions. ) Tj ET Q q 0 0 0 rg BT 162.97 610.85 Td (The changes in market value of such instruments have a high correlation to price ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 597.05 Td (changes in the hedged transactions. ) Tj ET Q q 0 0 0 rg BT 217.59 597.05 Td (W) Tj ET Q q 0 0 0 rg BT 227.52 597.05 Td (e also enter into derivative instruments for economic hedging purposes. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.25 Td (While we believe the economic hedges mitigate exposure to fluctuations in commodity prices, these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.45 Td (instruments have not been designated as accounting hedges. Contracts that have the same terms \(quantities, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.65 Td (delivery points and delivery periods\) and for which power does not flow are netted, which reduces both ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.85 Td (revenues and fuel and purchased power costs in our Consolidated Statements of Income, but does not impact ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 528.05 Td (our financial condition, net income or cash flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 514.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 500.45 Td (On June1, 2012, we elected to discontinue cash flow hedge accounting treatment for the significant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.65 Td (majority of our contracts that had previously been designated as cash flow hedges. ) Tj ET Q q 0 0 0 rg BT 434.12 486.65 Td (This discontinuation is due ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.85 Td (to changes in PSA) Tj ET Q q 0 0 0 rg BT 133.52 472.85 Td ( recovery \(see Note 3\), which now allows for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 344.28 472.85 Td (100%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 371.11 472.85 Td ( deferral of the unrealized gains and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 459.05 Td (losses relating to these contracts. For those contracts that were de-designated, all changes in fair value after ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.25 Td (May31, 2012 are no longer recorded through OCI, but are deferred through the PSA. ) Tj ET Q q 0 0 0 rg BT 448.18 445.25 Td (The amounts previously ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.45 Td (recorded in accumulated OCI relating to these instruments will remain in accumulated OCI, and will transfer to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.65 Td (earnings in the same period or periods during which the hedged transaction af) Tj ET Q q 0 0 0 rg BT 406.97 417.65 Td (fects earnings or sooner if we ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.85 Td (determine it is probable that the forecasted transaction will not occur) Tj ET Q q 0 0 0 rg BT 365.01 403.85 Td (. ) Tj ET Q q 0 0 0 rg BT 373.43 403.85 Td (When amounts have been reclassified ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 390.05 Td (from accumulated OCI to earnings, they will be subject to deferral in accordance with the PSA. Cash flow ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.25 Td (hedge accounting treatment will continue for a limited number of contracts that are not subject to PSA) Tj ET Q q 0 0 0 rg BT 519.60 376.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.45 Td (recovery) Tj ET Q q 0 0 0 rg BT 88.98 362.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 348.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 334.85 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 49.50 321.05 Td (balance sheet as an asset or liability and are measured at fair value. See Note 13 for a discussion of fair value ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.25 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 49.50 293.45 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 49.50 279.65 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 49.50 265.85 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 49.50 252.05 Td (below) Tj ET Q q 0 0 0 rg BT 76.86 252.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 238.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 224.45 Td (Hedge ef) Tj ET Q q 0 0 0 rg BT 127.12 224.45 Td (fectiveness is the degree to which the derivative instrument contract and the hedged item are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.65 Td (correlated and is measured based on the relative changes in fair value of the derivative instrument contract and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.85 Td (the hedged item over time. ) Tj ET Q q 0 0 0 rg BT 177.99 196.85 Td (W) Tj ET Q q 0 0 0 rg BT 187.92 196.85 Td (e assess hedge ef) Tj ET Q q 0 0 0 rg BT 265.95 196.85 Td (fectiveness both at inception and on a continuing basis. ) Tj ET Q q 0 0 0 rg BT 525.40 196.85 Td (These ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 183.05 Td (assessments exclude the time value of certain options. For accounting hedges that are deemed an ef) Tj ET Q q 0 0 0 rg BT 508.83 183.05 Td (fective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.25 Td (hedge, the ef) Tj ET Q q 0 0 0 rg BT 108.36 169.25 Td (fective portion of the gain or loss on the derivative instrument is reported as a component of OCI ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.45 Td (and reclassified into earnings in the same period during which the hedged transaction af) Tj ET Q q 0 0 0 rg BT 453.27 155.45 Td (fects earnings. ) Tj ET Q q 0 0 0 rg BT 525.23 155.45 Td (W) Tj ET Q q 0 0 0 rg BT 535.16 155.45 Td (e ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.65 Td (recognize in current earnings, subject to the PSA, the gains and losses representing hedge inef) Tj ET Q q 0 0 0 rg BT 481.70 141.65 Td (fectiveness, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.85 Td (the gains and losses on any hedge components which are excluded from our ef) Tj ET Q q 0 0 0 rg BT 410.48 127.85 Td (fectiveness assessment. ) Tj ET Q q 0 0 0 rg BT 523.54 127.85 Td (As cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 114.05 Td (flow hedge accounting has been discontinued for the significant majority of our contracts, after May31, 2012, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.25 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 100.25 Td (fectiveness testing is no longer being performed for these contracts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 86.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 72.65 Td (For its regulated operations, ) Tj ET Q q 0 0 0 rg BT 216.77 72.65 Td (APS defers for future rate treatment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 384.74 72.65 Td (100%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 411.57 72.65 Td ( of the unrealized gains and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.85 Td (losses on derivatives pursuant to the PSA) Tj ET Q q 0 0 0 rg BT 239.24 58.85 Td ( mechanism that would otherwise be recognized in income. Realized ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 277 0 obj <>] /Rotate 0 /Contents 278 0 R>> endobj 278 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (135) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (gains and losses on derivatives are deferred in accordance with the PSA) Tj ET Q q 0 0 0 rg BT 379.39 721.05 Td ( to the extent the amounts are above or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (below the Base Fuel Rate \(see Note 3\). 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 49.50 693.45 Td (amounts reflected in income before the ef) Tj ET Q q 0 0 0 rg BT 240.88 693.45 Td (fect of PSA) Tj ET Q q 0 0 0 rg BT 293.90 693.45 Td ( deferrals.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.85 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.61 665.85 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 203.98 665.85 Td (, we had the following outstanding gross notional volume of derivatives, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (which represent both purchases and sales \(does not reflect net position\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 638.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 615.75 389.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 615.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 615.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 615.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 615.75 58.00 -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 50 615.75 m 439 615.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 615.75 m 501 615.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 615.75 m 505 615.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 615.75 m 563 615.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 615.75 m 501 615.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 615.75 m 505 615.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 615.75 m 563 615.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 619.83 Td (Commodity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 619.83 Td (Quantity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 606.32 Td (Power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 606.32 Td (3,915) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 606.32 Td (GWh) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 592.32 Td (Gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 592.32 Td (136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 592.32 Td (Bcf \(a\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 574.45 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 574.45 Td (Bcf is Billion Cubic Feet.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 560.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 546.85 Td (Gains and Losses fr) Tj ET Q q 0 0 0 rg BT 146.11 546.85 Td (om Derivative Instruments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 533.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 519.25 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 49.50 505.45 Td (designated cash flow accounting hedging relationships during the years ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 411.02 505.45 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 501.39 505.45 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.14 505.45 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 530.14 505.45 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.65 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 491.65 Td ( \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.85 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 433.35 253.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 433.35 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 433.35 77.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 433.35 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 433.35 55.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 433.35 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 433.35 55.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 433.35 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 433.35 56.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 363.35 253.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 363.35 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 363.35 77.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 363.35 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 363.35 55.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 363.35 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 363.35 55.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 363.35 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 363.35 56.00 -35.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 446.35 m 443 446.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 446.35 m 447 446.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 446.35 m 502 446.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 446.35 m 506 446.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 446.35 m 562 446.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 433.35 m 303 433.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 433.35 m 384 433.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 446.35 m 443 446.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 433.35 m 443 433.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 446.35 m 447 446.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 446.35 m 502 446.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 433.35 m 502 433.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 446.35 m 506 446.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 446.35 m 562 446.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 433.35 m 562 433.35 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 310.65 450.58 Td (FinancialStatement) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.45 458.58 Td (Y) Tj ET Q q 0 0 0 rg BT 459.34 458.58 Td (ear) Tj ET Q q 0 0 0 rg BT 470.30 458.58 Td (Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.25 450.58 Td (December) Tj ET Q q 0 0 0 rg BT 485.75 450.58 Td (31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 437.58 Td (CommodityContracts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.85 437.58 Td (Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.00 437.58 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.00 437.58 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.50 437.58 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 423.92 Td (Loss Recognized in OCI on Derivative Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 413.92 Td (\(Effective Portion\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 423.02 Td (OCI ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 413.02 Td (derivative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 403.02 Td (instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.50 403.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.80 403.07 Td (\(372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 403.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 403.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 403.07 Td (\(353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 403.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.50 403.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 403.07 Td (\(37,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 403.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 388.92 Td (Loss Reclassified from Accumulated OCI into Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 378.92 Td (\(Effective Portion Realized\) \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 388.02 Td (Fuel and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 378.02 Td (purchased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 368.02 Td (power \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 368.07 Td (\(21,415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 368.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.30 368.07 Td (\(44,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 368.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 368.07 Td (\(99,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 368.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 343.02 Td (Gain Recognized in Income \(Ineffective Portion and Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 333.02 Td (Excluded from Effectiveness Testing\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 353.02 Td (Fuel and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 343.02 Td (purchased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 333.02 Td (power \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 333.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 333.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 333.02 Td (117) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 295.25 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 295.25 Td (During the years ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 213.35 295.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.73 295.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 309.48 295.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 332.48 295.25 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 357.71 295.25 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.71 295.25 Td (, we had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 422.22 295.25 Td (zero) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 442.01 295.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 447.76 295.25 Td (zero) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 295.25 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 492.78 295.25 Td ($1.8 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 549.00 295.25 Td ( of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 281.45 Td (losses reclassified from accumulated OCI to earnings related to discontinued cash flow hedges.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 267.65 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 267.65 Td (Amounts are before the ef) Tj ET Q q 0 0 0 rg BT 223.35 267.65 Td (fect of PSA) Tj ET Q q 0 0 0 rg BT 276.38 267.65 Td ( deferrals.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 253.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 240.05 Td (During the next twelve months, we estimate that a net loss of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.43 240.05 Td ($6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 417.03 240.05 Td ( before income taxes will be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 226.25 Td (reclassified from accumulated OCI as an of) Tj ET Q q 0 0 0 rg BT 249.19 226.25 Td (fset to the ef) Tj ET Q q 0 0 0 rg BT 306.14 226.25 Td (fect of market price changes for the related hedged ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 212.45 Td (transactions. In accordance with the PSA, substantially all of these amounts will be recorded as either a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 198.65 Td (regulatory asset or liability and have no immediate ef) Tj ET Q q 0 0 0 rg BT 294.55 198.65 Td (fect on earnings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 184.85 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 279 0 obj <>] /Rotate 0 /Contents 280 0 R>> endobj 280 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (136) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 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 49.50 707.25 Td (designated as accounting hedging instruments during the years ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 371.10 707.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 461.48 707.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.23 707.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.23 707.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.58 707.25 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 535.58 707.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (\(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.65 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 637.15 210.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 637.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.00 637.15 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 637.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 637.15 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 637.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 637.15 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 637.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 637.15 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 598.15 210.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 598.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.00 598.15 94.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 598.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 598.15 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 598.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 598.15 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 598.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 598.15 63.00 -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 362 649.15 m 428 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 649.15 m 432 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 649.15 m 496 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 649.15 m 500 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 649.15 m 563 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 637.15 m 260 637.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264 637.15 m 358 637.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 649.15 m 428 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 637.15 m 428 637.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 649.15 m 432 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 649.15 m 496 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 637.15 m 496 637.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 649.15 m 500 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 649.15 m 563 649.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 637.15 m 563 637.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 598.15 m 428 598.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 598.15 m 496 598.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 598.15 m 563 598.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 598.15 m 428 598.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 585.15 m 428 585.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 583.15 m 428 583.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 598.15 m 496 598.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 585.15 m 496 585.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 583.15 m 496 583.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 598.15 m 563 598.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 585.15 m 563 585.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 583.15 m 563 583.15 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.15 653.38 Td (FinancialStatement) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.95 661.23 Td (Y) Tj ET Q q 0 0 0 rg BT 446.84 661.23 Td (ear) Tj ET Q q 0 0 0 rg BT 457.80 661.23 Td (Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.75 653.23 Td (December) Tj ET Q q 0 0 0 rg BT 473.25 653.23 Td (31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 641.23 Td (CommodityContracts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 295.35 641.23 Td (Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.50 641.23 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.50 641.23 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.00 641.23 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 627.72 Td (Net Gain Recognized in Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.50 626.82 Td (Operating revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 626.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.15 626.82 Td (324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.50 626.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 626.82 Td (289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.50 626.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 626.82 Td (103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 612.72 Td (Net Loss Recognized in Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.50 612.72 Td (Fuel and purchased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.50 602.72 Td (power \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.30 602.87 Td (\(66,367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 602.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.30 602.87 Td (\(10,449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 602.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 602.87 Td (\(2,747) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 602.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 588.72 Td (Total) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 354.50 586.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 588.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.30 588.77 Td (\(66,043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 588.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.50 588.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.30 588.77 Td (\(10,160) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 588.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.50 588.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 588.77 Td (\(2,644) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 588.72 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 551.05 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 551.05 Td (Amounts are before the ef) Tj ET Q q 0 0 0 rg BT 223.35 551.05 Td (fect of PSA) Tj ET Q q 0 0 0 rg BT 276.38 551.05 Td ( deferrals.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 537.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 523.45 Td (Derivative Instruments in the Consolidated Balance Sheets) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 509.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 495.85 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 49.50 482.05 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 49.50 468.25 Td (negative exposures associated with a single counterparty) Tj ET Q q 0 0 0 rg BT 309.34 468.25 Td (. ) Tj ET Q q 0 0 0 rg BT 317.33 468.25 Td (Agreements that allow for the of) Tj ET Q q 0 0 0 rg BT 466.90 468.25 Td (fsetting of positive ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 454.45 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 49.50 440.65 Td (T) Tj ET Q q 0 0 0 rg BT 56.12 440.65 Td (ransactions with counterparties that have master netting arrangements are of) Tj ET Q q 0 0 0 rg BT 406.22 440.65 Td (fset and reported net on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 426.85 Td (Consolidated Balance Sheets. ) Tj ET Q q 0 0 0 rg BT 191.42 426.85 Td (T) Tj ET Q q 0 0 0 rg BT 198.04 426.85 Td (ransactions that do not allow for of) Tj ET Q q 0 0 0 rg BT 358.80 426.85 Td (fsetting of positive and negative positions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 413.05 Td (are reported gross on the Consolidated Balance Sheets.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 399.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 385.45 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 385.45 Td (e do not of) Tj ET Q q 0 0 0 rg BT 144.73 385.45 Td (fset a counterparty) Tj ET Q q 0 0 0 rg BT 233.50 385.45 Td (s current derivative contracts with the counterparty) Tj ET Q q 0 0 0 rg BT 471.08 385.45 Td (s non-current ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 371.65 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 49.50 357.85 Td (to be of) Tj ET Q q 0 0 0 rg BT 84.42 357.85 Td (fset in the event of a default. ) Tj ET Q q 0 0 0 rg BT 220.78 357.85 Td (Additionally) Tj ET Q q 0 0 0 rg BT 278.17 357.85 Td (, in the event of a default, our master netting arrangements ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 344.05 Td (would allow for the of) Tj ET Q q 0 0 0 rg BT 152.13 344.05 Td (fsetting of all transactions executed under the master netting arrangement. ) Tj ET Q q 0 0 0 rg BT 498.08 344.05 Td (These types ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 330.25 Td (of transactions may include non-derivative instruments, derivatives qualifying for scope exceptions, trade ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 316.45 Td (receivables and trade payables arising from settled positions, and other forms of non-cash collateral \(such as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 302.65 Td (letters of credit\). ) Tj ET Q q 0 0 0 rg BT 131.36 302.65 Td (These types of transactions are excluded from the of) Tj ET Q q 0 0 0 rg BT 371.92 302.65 Td (fsetting tables presented below) Tj ET Q q 0 0 0 rg BT 513.29 302.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 288.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 275.05 Td (The significant majority of our derivative instruments are not currently designated as hedging ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 261.25 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 111.58 261.25 Td (The Consolidated Balance Sheets as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 293.62 261.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 384.00 261.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.35 261.25 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 496.72 261.25 Td (, include ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 247.45 Td (gross liabilities of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 134.79 247.45 Td ($4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 182.39 247.45 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 204.74 247.45 Td ($5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 252.34 247.45 Td (, respectively) Tj ET Q q 0 0 0 rg BT 312.91 247.45 Td (, of derivative instruments designated as hedging ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 233.65 Td (instruments.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 219.85 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 281 0 obj <>] /Rotate 0 /Contents 282 0 R>> endobj 282 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (137) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 721.05 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 49.50 707.25 Td (reported on a gross basis, and the impacts of of) Tj ET Q q 0 0 0 rg BT 265.83 707.25 Td (fsetting as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 328.11 707.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 418.48 707.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 440.83 707.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.83 707.25 Td (. ) Tj ET Q q 0 0 0 rg BT 472.25 707.25 Td (These amounts ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (relate to commodity contracts and are located in the assets and liabilities from risk management activities lines ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (of our Consolidated Balance Sheets.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.85 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 617.35 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 617.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 617.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 617.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 617.35 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 617.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 617.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 617.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 617.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 617.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 617.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 588.35 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 588.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 588.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 588.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 588.35 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 588.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 588.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 588.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 588.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 588.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 588.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 560.35 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 560.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 560.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 560.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 560.35 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 560.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 560.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 560.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 560.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 560.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 560.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 530.35 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 530.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 530.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 530.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 530.35 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 530.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 530.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 530.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 530.35 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 530.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 530.35 58.00 -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 50 617.35 m 254 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 617.35 m 316 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 617.35 m 377 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 617.35 m 439 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 617.35 m 501 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 617.35 m 563 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 617.35 m 316 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 617.35 m 377 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 617.35 m 439 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 617.35 m 501 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 617.35 m 563 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 588.35 m 316 588.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 588.35 m 377 588.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 588.35 m 439 588.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 588.35 m 501 588.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 588.35 m 563 588.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 574.35 m 316 574.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 574.35 m 377 574.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 574.35 m 439 574.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 574.35 m 501 574.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 574.35 m 563 574.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 530.35 m 316 530.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 530.35 m 377 530.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 530.35 m 439 530.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 530.35 m 501 530.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 530.35 m 563 530.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 516.35 m 316 516.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 516.35 m 377 516.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 516.35 m 439 516.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 516.35 m 501 516.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 516.35 m 563 516.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 516.35 m 316 516.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 503.35 m 316 503.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 501.35 m 316 501.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 516.35 m 377 516.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 503.35 m 377 503.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 501.35 m 377 501.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 516.35 m 439 516.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 503.35 m 439 503.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 501.35 m 439 501.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 516.35 m 501 516.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 503.35 m 501 503.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 501.35 m 501 501.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 516.35 m 563 516.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 503.35 m 563 503.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 501.35 m 563 501.35 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 629.58 Td (As of December 31, 2014:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 621.58 Td ( \(dollars in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.55 647.43 Td (Gr) Tj ET Q q 0 0 0 rg BT 286.18 647.43 Td (oss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 266.90 639.43 Td (Recognized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.15 631.43 Td (Derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.55 621.92 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.05 621.92 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.40 637.58 Td (Amounts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 337.55 629.58 Td (Offset) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.10 621.58 Td (\(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 403.50 641.53 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 632.02 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.15 632.02 Td (Recognized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.90 622.02 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.40 622.02 Td (Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.35 631.53 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.80 622.02 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 622.02 Td (\(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.45 637.58 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.25 629.58 Td (Reportedon) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.60 621.58 Td (BalanceSheet) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 607.92 Td (Current Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.50 607.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 607.92 Td (28,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.50 607.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.30 607.97 Td (\(15,127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 607.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 607.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 607.92 Td (13,435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 607.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 607.92 Td (350) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 607.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 607.92 Td (13,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 593.02 Td (Investments and Other Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 593.02 Td (24,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.30 593.07 Td (\(7,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 593.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 593.02 Td (17,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 593.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 593.02 Td (17,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 578.92 Td (Total Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 578.92 Td (53,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.30 578.97 Td (\(22,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 578.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 578.92 Td (31,055) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 578.92 Td (350) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 578.92 Td (31,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 550.92 Td (Current Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.30 550.97 Td (\(86,062) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 550.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 550.92 Td (33,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.30 550.97 Td (\(52,233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 550.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 550.97 Td (\(7,443) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 550.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 550.97 Td (\(59,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 550.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 535.02 Td (Deferred Credits and Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.30 535.07 Td (\(82,990) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 535.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 535.02 Td (32,388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.30 535.07 Td (\(50,602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 535.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 535.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 535.07 Td (\(50,602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 535.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 520.92 Td (Total Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.30 520.97 Td (\(169,052) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 520.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 520.92 Td (66,217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.30 520.97 Td (\(102,835) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 520.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 520.97 Td (\(7,443) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 520.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 520.97 Td (\(110,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 520.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 506.92 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.50 506.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.30 506.97 Td (\(115,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 506.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.50 506.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 506.92 Td (43,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 506.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.30 506.97 Td (\(71,780) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 506.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 506.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 506.97 Td (\(7,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 506.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 506.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 506.97 Td (\(78,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 506.92 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 469.25 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 469.25 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 76.50 455.45 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 455.45 Td (Includes cash collateral provided to counterparties of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 350.34 455.45 Td ($43,900) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.72 455.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 441.65 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 441.65 Td (Represents cash collateral and mar) Tj ET Q q 0 0 0 rg BT 262.95 441.65 Td (gin that is not subject to of) Tj ET Q q 0 0 0 rg BT 385.40 441.65 Td (fsetting. ) Tj ET Q q 0 0 0 rg BT 427.89 441.65 Td (Amounts relate to non-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 427.85 Td (derivative instruments, derivatives qualifying for scope exceptions, or collateral and mar) Tj ET Q q 0 0 0 rg BT 510.78 427.85 Td (gin posted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 414.05 Td (in excess of the recognized derivative instrument. Includes cash collateral received from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 400.25 Td (counterparties of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 183.97 400.25 Td ($7,443) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.59 400.25 Td (, and cash mar) Tj ET Q q 0 0 0 rg BT 281.80 400.25 Td (gin provided to counterparties of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 435.42 400.25 Td ($350) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 458.42 400.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 386.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 333.95 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 333.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 333.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 333.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 333.95 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 333.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 333.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 333.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 333.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 333.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 333.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 302.95 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 302.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 302.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 302.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 302.95 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 302.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 302.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 302.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 302.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 302.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 302.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 274.95 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 274.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 274.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 274.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 274.95 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 274.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 274.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 274.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 274.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 274.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 274.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 245.95 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 245.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 245.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 245.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 245.95 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 245.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 245.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 245.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 245.95 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 245.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 245.95 58.00 -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 50 333.95000000000005 m 254 333.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 333.95000000000005 m 316 333.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 333.95000000000005 m 377 333.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 333.95000000000005 m 439 333.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 333.95000000000005 m 501 333.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 333.95000000000005 m 563 333.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 333.95000000000005 m 316 333.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 333.95000000000005 m 377 333.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 333.95000000000005 m 439 333.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 333.95000000000005 m 501 333.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 333.95000000000005 m 563 333.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 302.95000000000005 m 316 302.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 302.95000000000005 m 377 302.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 302.95000000000005 m 439 302.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 302.95000000000005 m 501 302.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 302.95000000000005 m 563 302.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 288.95000000000005 m 316 288.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 288.95000000000005 m 377 288.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 288.95000000000005 m 439 288.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 288.95000000000005 m 501 288.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 288.95000000000005 m 563 288.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 245.95000000000005 m 316 245.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 245.95000000000005 m 377 245.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 245.95000000000005 m 439 245.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 245.95000000000005 m 501 245.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 245.95000000000005 m 563 245.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 231.95000000000005 m 316 231.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 231.95000000000005 m 377 231.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 231.95000000000005 m 439 231.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 231.95000000000005 m 501 231.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 231.95000000000005 m 563 231.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 231.95000000000005 m 316 231.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 218.95000000000005 m 316 218.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 216.95000000000005 m 316 216.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 231.95000000000005 m 377 231.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 218.95000000000005 m 377 218.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 216.95000000000005 m 377 216.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 231.95000000000005 m 439 231.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 218.95000000000005 m 439 218.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 216.95000000000005 m 439 216.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 231.95000000000005 m 501 231.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 218.95000000000005 m 501 218.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 216.95000000000005 m 501 216.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 231.95000000000005 m 563 231.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 218.95000000000005 m 563 218.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 216.95000000000005 m 563 216.95000000000005 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 346.18 Td (As of December 31, 2013:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 338.18 Td ( \(dollars in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.55 368.03 Td (Gr) Tj ET Q q 0 0 0 rg BT 286.18 368.03 Td (oss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.65 358.52 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.15 358.52 Td (Recognized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.90 348.52 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.40 348.52 Td (Derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.55 338.52 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.05 338.52 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.40 354.18 Td (Amounts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 337.55 346.18 Td (Offset) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.10 338.18 Td (\(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 403.50 358.13 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 348.62 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.15 348.62 Td (Recognized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.90 338.62 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.40 338.62 Td (Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.35 348.13 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.80 338.62 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 338.62 Td (\(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.45 358.13 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.00 348.62 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.50 348.62 Td (Reportedon) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.35 338.62 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.85 338.62 Td (BalanceSheet) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 324.52 Td (Current Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.50 324.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 324.52 Td (24,587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.50 324.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.30 324.57 Td (\(7,425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 324.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 324.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 324.52 Td (17,162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 324.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 324.52 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 324.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 324.52 Td (17,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 307.62 Td (Investments and Other Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 307.62 Td (25,364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.30 307.67 Td (\(1,549) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 307.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 307.62 Td (23,815) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 307.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 307.62 Td (23,815) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 293.52 Td (Total Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 293.52 Td (49,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.30 293.57 Td (\(8,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 293.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 293.52 Td (40,977) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 293.52 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 293.52 Td (40,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 265.52 Td (Current Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.30 265.57 Td (\(50,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 265.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 265.52 Td (26,166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.30 265.57 Td (\(24,374) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 265.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 265.57 Td (\(7,518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 265.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 265.57 Td (\(31,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 265.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 250.62 Td (Deferred Credits and Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.30 250.67 Td (\(72,123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 250.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 250.62 Td (1,808) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.30 250.67 Td (\(70,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 250.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 250.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 250.67 Td (\(70,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 250.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 236.52 Td (Total Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.30 236.57 Td (\(122,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 236.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 236.52 Td (27,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.30 236.57 Td (\(94,689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 236.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 236.57 Td (\(7,518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 236.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 236.57 Td (\(102,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 236.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 222.52 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.50 222.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.30 222.57 Td (\(72,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 222.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.50 222.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 222.52 Td (19,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 222.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.30 222.57 Td (\(53,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 222.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 222.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 222.57 Td (\(7,511) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 222.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 222.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 222.57 Td (\(61,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 222.52 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 184.85 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 184.85 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 76.50 171.05 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 171.05 Td (Includes cash collateral provided to counterparties of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 350.34 171.05 Td ($19,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.72 171.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 157.25 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 157.25 Td (Represents cash collateral and mar) Tj ET Q q 0 0 0 rg BT 262.95 157.25 Td (gin that is not subject to of) Tj ET Q q 0 0 0 rg BT 385.40 157.25 Td (fsetting. ) Tj ET Q q 0 0 0 rg BT 427.89 157.25 Td (Amounts relate to non-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 143.45 Td (derivative instruments, derivatives qualifying for scope exceptions, or collateral and mar) Tj ET Q q 0 0 0 rg BT 510.78 143.45 Td (gin posted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 129.65 Td (in excess of the recognized derivative instrument. Includes cash collateral received from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 115.85 Td (counterparties of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 183.97 115.85 Td ($7,518) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.59 115.85 Td (, and cash mar) Tj ET Q q 0 0 0 rg BT 281.80 115.85 Td (gin provided to counterparties of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 435.42 115.85 Td ($7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 446.92 115.85 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 283 0 obj <>] /Rotate 0 /Contents 284 0 R>> endobj 284 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (138) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 721.25 Td (Cr) Tj ET Q q 0 0 0 rg BT 62.70 721.25 Td (edit Risk and Cr) Tj ET Q q 0 0 0 rg BT 143.97 721.25 Td (edit Related Contingent Featur) Tj ET Q q 0 0 0 rg BT 296.76 721.25 Td (es) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.65 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 693.65 Td (e are exposed to losses in the event of nonperformance or nonpayment by counterparties. ) Tj ET Q q 0 0 0 rg BT 510.37 693.65 Td (W) Tj ET Q q 0 0 0 rg BT 520.31 693.65 Td (e have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.85 Td (risk management contracts with many counterparties, including ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 344.59 679.85 Td (one) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.19 679.85 Td ( counterparty for which our exposure ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.05 Td (represents approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 168.29 666.05 Td (90%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 189.37 666.05 Td ( of Pinnacle) Tj ET Q q 0 0 0 rg BT 246.97 666.05 Td (W) Tj ET Q q 0 0 0 rg BT 256.90 666.05 Td (est) Tj ET Q q 0 0 0 rg BT 272.87 666.05 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 280.23 666.05 Td ($31 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.58 666.05 Td ( of risk management assets as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 485.28 666.05 Td (December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.25 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 652.25 Td (. ) Tj ET Q q 0 0 0 rg BT 80.92 652.25 Td (This exposure relates to a long-term traditional wholesale contract with a counterparty that has a high ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.45 Td (credit quality) Tj ET Q q 0 0 0 rg BT 109.75 638.45 Td (. Our risk management process assesses and monitors the financial exposure of all counterparties. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.65 Td (Despite the fact that the great majority of trading counterparties) Tj ET Q q 0 0 0 rg BT 345.30 624.65 Td ( debt is rated as investment grade by the credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.85 Td (rating agencies, there is still a possibility that one or more of these companies could default, resulting in a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 597.05 Td (material impact on consolidated earnings for a given period. Counterparties in the portfolio consist principally ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.25 Td (of financial institutions, major ener) Tj ET Q q 0 0 0 rg BT 211.21 583.25 Td (gy companies, municipalities and local distribution companies. ) Tj ET Q q 0 0 0 rg BT 506.76 583.25 Td (W) Tj ET Q q 0 0 0 rg BT 516.69 583.25 Td (e ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.45 Td (maintain credit policies that we believe minimize overall credit risk to within acceptable limits. Determination ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.65 Td (of the credit quality of our counterparties is based upon a number of factors, including credit ratings and our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.85 Td (evaluation of their financial condition. ) Tj ET Q q 0 0 0 rg BT 231.64 541.85 Td (T) Tj ET Q q 0 0 0 rg BT 237.86 541.85 Td (o manage credit risk, we employ collateral requirements and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 528.05 Td (standardized agreements that allow for the netting of positive and negative exposures associated with a single ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.25 Td (counterparty) Tj ET Q q 0 0 0 rg BT 106.87 514.25 Td (. ) Tj ET Q q 0 0 0 rg BT 115.28 514.25 Td (V) Tj ET Q q 0 0 0 rg BT 122.31 514.25 Td (aluation adjustments are established representing our estimated credit losses on our overall ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.45 Td (exposure to counterparties.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 486.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 472.85 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 49.50 459.05 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 49.50 445.25 Td (adequate assurance provisions. ) Tj ET Q q 0 0 0 rg BT 196.72 445.25 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 49.50 431.45 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 49.50 417.65 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 49.50 403.85 Td (could demand additional collateral if our debt credit rating were to fall below investment grade \(below BBB- ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 390.05 Td (for Standard& Poor) Tj ET Q q 0 0 0 rg BT 143.51 390.05 Td () Tj ET Q q 0 0 0 rg BT 146.71 390.05 Td (s or Fitch or Baa3 for Moody) Tj ET Q q 0 0 0 rg BT 284.69 390.05 Td (s\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 376.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 362.45 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 49.50 348.65 Td (contingent features at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 151.36 348.65 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 241.74 348.65 Td ( \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.85 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 304.35 447.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 304.35 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 276.35 447.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 276.35 65.00 -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 497 304.35 m 562 304.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 304.35 m 562 304.35 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 307.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 505.75 316.43 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 308.43 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 294.92 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 499.50 294.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 294.92 Td (169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 280.92 Td (Cash Collateral Posted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 280.92 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 266.92 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 548.15 266.02 Td (80) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 228.25 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 228.25 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 103.50 214.45 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 85.50 200.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 186.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 186.85 Td (e also have ener) Tj ET Q q 0 0 0 rg BT 168.98 186.85 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 49.50 173.05 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 482.55 173.05 Td ($175 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.65 173.05 Td ( if ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 159.25 Td (our debt credit ratings were to fall below investment grade.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 131.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 117.85 Td (17.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.88 117.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.38 117.85 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 89.25 117.85 Td (Other) Tj ET Q q 0 0 0 rg BT 118.42 117.85 Td ( Income and Other) Tj ET Q q 0 0 0 rg BT 211.17 117.85 Td ( Expense) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 90.25 Td (The following table provides detail of other income and other expense for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 427.84 90.25 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 450.84 90.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 456.59 90.25 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.59 90.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 501.94 90.25 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 524.94 90.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 76.45 Td (\(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 62.65 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 285 0 obj <>] /Rotate 0 /Contents 286 0 R>> endobj 286 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (139) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 716.50 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 716.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 716.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 716.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 716.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 716.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 688.50 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 688.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 688.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 688.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 688.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 716.5 m 562 716.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 660.5 m 424 660.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 660.5 m 493 660.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 660.5 m 562 660.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 660.5 m 424 660.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 647.5 m 424 647.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 645.5 m 424 645.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 660.5 m 493 660.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 647.5 m 493 647.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 645.5 m 493 645.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 660.5 m 562 660.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 647.5 m 562 647.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 645.5 m 562 645.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 590.5 m 424 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 590.5 m 493 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 590.5 m 562 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 590.5 m 424 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 577.5 m 424 577.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 575.5 m 424 575.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 590.5 m 493 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 577.5 m 493 577.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 575.5 m 493 575.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 590.5 m 562 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 577.5 m 562 577.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 575.5 m 562 575.5 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 719.22 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 720.58 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 720.58 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 720.58 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 707.07 Td (Other income:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 705.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 705.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 705.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 693.07 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 693.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 693.07 Td (1,010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 693.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 693.07 Td (1,629) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 693.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 693.07 Td (1,239) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 679.07 Td (Debt return on the purchase of Four Corners units 4 & 5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 679.07 Td (8,386) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 679.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 679.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 665.07 Td (Miscellaneous) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 665.07 Td (212) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 665.07 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 665.07 Td (367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 651.07 Td (Total other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 651.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 651.07 Td (9,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 651.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 651.07 Td (1,704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 651.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 651.07 Td (1,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 637.07 Td (Other expense:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 635.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 635.26 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 635.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 623.07 Td (Non-operating costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 623.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.30 623.12 Td (\(9,657) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 623.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 623.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 623.12 Td (\(8,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 623.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 623.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 623.12 Td (\(7,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 623.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 609.07 Td (Investment loss net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.30 609.12 Td (\(9,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 609.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 609.12 Td (\(3,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 609.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 609.12 Td (\(2,453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 609.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 595.07 Td (Miscellaneous) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.30 595.12 Td (\(2,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 595.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 595.12 Td (\(4,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 595.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 595.12 Td (\(9,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 595.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 581.07 Td (Total other expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 581.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 581.12 Td (\(21,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 581.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 581.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 581.12 Td (\(16,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 581.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 581.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 581.12 Td (\(19,842) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 581.07 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 563.20 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 549.40 Td (18.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.88 549.40 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.38 549.40 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 89.25 549.40 Td (Palo ) Tj ET Q q 0 0 0 rg BT 113.64 549.40 Td (V) Tj ET Q q 0 0 0 rg BT 120.89 549.40 Td (erde Sale Leaseback ) Tj ET Q q 0 0 0 rg BT 223.21 549.40 Td (V) Tj ET Q q 0 0 0 rg BT 230.46 549.40 Td (ariable Inter) Tj ET Q q 0 0 0 rg BT 292.53 549.40 Td (est Entities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 535.60 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 521.80 Td (In 1986, ) Tj ET Q q 0 0 0 rg BT 126.07 521.80 Td (APS entered into agreements with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 286.08 521.80 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 309.06 521.80 Td ( separate ) Tj ET Q q 0 0 0 rg BT 352.28 521.80 Td (VIE lessor trusts in order to sell and lease ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 508.00 Td (back interests in Palo ) Tj ET Q q 0 0 0 rg BT 150.22 508.00 Td (V) Tj ET Q q 0 0 0 rg BT 157.25 508.00 Td (erde Unit 2 and related common facilities. ) Tj ET Q q 0 0 0 rg BT 356.20 508.00 Td (APS will pay approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.72 508.00 Td ($49 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.07 508.00 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 494.20 Td (2015 related to these leases. ) Tj ET Q q 0 0 0 rg BT 183.74 494.20 Td (The lease agreements include fixed rate renewal periods, which give ) Tj ET Q q 0 0 0 rg BT 500.82 494.20 Td (APS the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 480.40 Td (ability to utilize the assets for a significant portion of the asset) Tj ET Q q 0 0 0 rg BT 338.54 480.40 Td (s economic life, and therefore provide ) Tj ET Q q 0 0 0 rg BT 515.76 480.40 Td (APS with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 466.60 Td (the power to direct activities of the ) Tj ET Q q 0 0 0 rg BT 212.48 466.60 Td (VIEs that most significantly impact the ) Tj ET Q q 0 0 0 rg BT 395.60 466.60 Td (VIEs) Tj ET Q q 0 0 0 rg BT 422.21 466.60 Td ( economic performance. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 452.80 Td (Predominately due to the fixed rate renewal periods, ) Tj ET Q q 0 0 0 rg BT 292.52 452.80 Td (APS has been deemed the primary beneficiary of these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 439.00 Td (VIEs and therefore consolidates the ) Tj ET Q q 0 0 0 rg BT 216.31 439.00 Td (VIEs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 425.20 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 411.40 Td (On July7, 2014, ) Tj ET Q q 0 0 0 rg BT 164.09 411.40 Td (APS notified the lessor trust entities of ) Tj ET Q q 0 0 0 rg BT 344.57 411.40 Td (APS) Tj ET Q q 0 0 0 rg BT 368.86 411.40 Td (s intent to exercise the fixed rate lease ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 397.60 Td (renewal options. ) Tj ET Q q 0 0 0 rg BT 131.05 397.60 Td (The length of the renewal options will result in ) Tj ET Q q 0 0 0 rg BT 349.19 397.60 Td (APS retaining the assets through 2023 under ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 383.80 Td (one) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 66.10 383.80 Td ( lease and 2033 under the other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 212.68 383.80 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 229.93 383.80 Td ( leases. ) Tj ET Q q 0 0 0 rg BT 268.26 383.80 Td (APS will be required to make lease payments of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 370.00 Td ($23 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 102.85 370.00 Td ( annually for the period 2016 through 2023, and about ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 354.84 370.00 Td ($16 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.20 370.00 Td ( annually for the period 2024 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 356.20 Td (through 2033.) Tj ET Q q 0 0 0 rg BT 116.27 356.20 Td (At the end of the lease renewal periods, ) Tj ET Q q 0 0 0 rg BT 300.52 356.20 Td (APS willhave the option to purchase the leased assets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 342.40 Td (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 281.01 342.40 Td (two years) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.40 342.40 Td (, or return the assets to the lessors.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 328.60 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 314.80 Td (As a result of consolidation, we eliminate lease accounting and instead recognize depreciation and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 301.00 Td (interest expense, resulting in an increase in net income for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 319.98 301.00 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 342.98 301.00 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 348.73 301.00 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 371.73 301.00 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 394.09 301.00 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 417.09 301.00 Td ( of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 432.42 301.00 Td ($26 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 485.77 301.00 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 491.52 301.00 Td ($34 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 544.87 301.00 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 287.20 Td (and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 68.98 287.20 Td ($32 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.33 287.20 Td (, respectively) Tj ET Q q 0 0 0 rg BT 182.89 287.20 Td (, entirely attributable to the noncontrolling interests. Income attributable to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 273.40 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 273.40 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 273.40 Td (est shareholders remains the same. ) Tj ET Q q 0 0 0 rg BT 266.60 273.40 Td (The July 7, 2014 lease extension results in the ) Tj ET Q q 0 0 0 rg BT 481.02 273.40 Td (VIEs accounting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 259.60 Td (for the transaction as a new lease agreement. Consolidation of these ) Tj ET Q q 0 0 0 rg BT 364.16 259.60 Td (VIEs also results in changes to our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 245.80 Td (Consolidated Statements of Cash Flows, but does not impact net cash flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 218.20 Td (Our Consolidated Balance Sheets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 253.81 218.20 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 344.18 218.20 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 366.54 218.20 Td (December 31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 456.91 218.20 Td ( include the following ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 204.40 Td (amounts relating to the ) Tj ET Q q 0 0 0 rg BT 157.88 204.40 Td (VIEs \(in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 190.60 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 160.10 378.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 160.10 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 160.10 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 160.10 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 122.10 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 122.10 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 122.10 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 122.10 65.00 -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 428 160.10000000000002 m 493 160.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 160.10000000000002 m 562 160.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 160.10000000000002 m 493 160.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 160.10000000000002 m 562 160.10000000000002 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 162.82 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.75 172.18 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 164.18 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 505.75 172.18 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 164.18 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 140.77 Td (Palo Verde sale leaseback property plant and equipment, net of accumulated depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 140.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 140.77 Td (121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 140.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 140.77 Td (125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 126.67 Td (Current maturities of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 126.67 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 126.67 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 112.67 Td (Long-term debt excluding current maturities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 112.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 112.67 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 98.67 Td (Equity-Noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 98.67 Td (152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 98.67 Td (146) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 80.80 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 67.00 Td (Assets of the ) Tj ET Q q 0 0 0 rg BT 147.58 67.00 Td (VIEs are restricted and may only be used to settle the ) Tj ET Q q 0 0 0 rg BT 395.50 67.00 Td (VIEs) Tj ET Q q 0 0 0 rg BT 422.12 67.00 Td ( debt obligations and for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 53.20 Td (payment to the noncontrolling interest holders. Other than the ) Tj ET Q q 0 0 0 rg BT 338.97 53.20 Td (VIEs) Tj ET Q q 0 0 0 rg BT 365.58 53.20 Td ( assets reported on our consolidated ) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 287 0 obj <>] /Rotate 0 /Contents 288 0 R>> endobj 288 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (140) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 721.05 Td (financial statements, the creditors of the ) Tj ET Q q 0 0 0 rg BT 236.11 721.05 Td (VIEs have no other recourse to the assets of ) Tj ET Q q 0 0 0 rg BT 440.17 721.05 Td (APS or Pinnacle ) Tj ET Q q 0 0 0 rg BT 518.87 721.05 Td (W) Tj ET Q q 0 0 0 rg BT 528.80 721.05 Td (est, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (except in certain circumstances, such as a default by ) Tj ET Q q 0 0 0 rg BT 292.19 707.25 Td (APS under the lease.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.65 Td (APS is exposed to losses relating to these ) Tj ET Q q 0 0 0 rg BT 278.87 679.65 Td (VIEs upon the occurrence of certain events that ) Tj ET Q q 0 0 0 rg BT 499.84 679.65 Td (APS does not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (consider reasonably likely to occur) Tj ET Q q 0 0 0 rg BT 209.81 665.85 Td (. Under certain circumstances \(for example, the NRC issuing specified ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (violation orders with respect to Palo ) Tj ET Q q 0 0 0 rg BT 218.57 652.05 Td (V) Tj ET Q q 0 0 0 rg BT 225.60 652.05 Td (erde or the occurrence of specified nuclear events\), ) Tj ET Q q 0 0 0 rg BT 462.83 652.05 Td (APS would be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (required to make specified payments to the ) Tj ET Q q 0 0 0 rg BT 250.16 638.25 Td (VIEs) Tj ET Q q 0 0 0 rg BT 276.77 638.25 Td ( noncontrolling equity participants, assume the ) Tj ET Q q 0 0 0 rg BT 494.70 638.25 Td (VIEs) Tj ET Q q 0 0 0 rg BT 521.32 638.25 Td ( debt, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.45 Td (and take title to the leased Palo ) Tj ET Q q 0 0 0 rg BT 195.24 624.45 Td (V) Tj ET Q q 0 0 0 rg BT 202.27 624.45 Td (erde Unit 2 interests which, if appropriate, may be required to be written ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (down in value. If such an event had occurred as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 286.76 610.65 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 377.14 610.65 Td (, ) Tj ET Q q 0 0 0 rg BT 382.25 610.65 Td (APS would have been required to pay ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (the noncontrolling equity participants approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.46 596.85 Td ($123 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.56 596.85 Td ( and assume ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 412.65 596.85 Td ($13 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 466.00 596.85 Td ( of debt. Since ) Tj ET Q q 0 0 0 rg BT 537.54 596.85 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (consolidates these ) Tj ET Q q 0 0 0 rg BT 135.52 583.05 Td (VIEs, the debt ) Tj ET Q q 0 0 0 rg BT 203.87 583.05 Td (APS would be required to assume is already reflected in our Consolidated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (Balance Sheets.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 541.65 Td (For regulatory ratemaking purposes, the leases are treated as operating leases and, as a result, we have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (recorded a regulatory asset relating to the arrangements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 514.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (19.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.88 500.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.38 500.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 89.25 500.25 Td (Nuclear) Tj ET Q q 0 0 0 rg BT 128.00 500.25 Td ( Decommissioning ) Tj ET Q q 0 0 0 rg BT 219.80 500.25 Td (T) Tj ET Q q 0 0 0 rg BT 226.61 500.25 Td (rusts) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 472.65 Td (T) Tj ET Q q 0 0 0 rg BT 91.72 472.65 Td (o fund the costs ) Tj ET Q q 0 0 0 rg BT 166.47 472.65 Td (APS expects to incur to decommission Palo ) Tj ET Q q 0 0 0 rg BT 370.37 472.65 Td (V) Tj ET Q q 0 0 0 rg BT 377.40 472.65 Td (erde, ) Tj ET Q q 0 0 0 rg BT 402.31 472.65 Td (APS established external ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (decommissioning trusts in accordance with NRC regulations. ) Tj ET Q q 0 0 0 rg BT 337.07 458.85 Td (Third-party investment managers are authorized ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.05 Td (to buy and sell securities per stated investment guidelines. ) Tj ET Q q 0 0 0 rg BT 322.36 445.05 Td (The trust funds are invested in fixed income ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (securities and equity securities. ) Tj ET Q q 0 0 0 rg BT 198.33 431.25 Td (APS classifies investments in decommissioning trust funds as available for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.45 Td (sale. ) Tj ET Q q 0 0 0 rg BT 75.37 417.45 Td (As a result, we record the decommissioning trust funds at their fair value on our Consolidated Balance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.65 Td (Sheets. See Note 13 for a discussion of how fair value is determined and the classification of the nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.85 Td (decommissioning trust investments within the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 353.12 389.85 Td (. Because of the ability of ) Tj ET Q q 0 0 0 rg BT 476.40 389.85 Td (APS to recover ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.05 Td (decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.25 Td (funds, we have deferred realized and unrealized gains and losses \(including other) Tj ET Q q 0 0 0 rg BT 422.88 362.25 Td (-than-temporary impairments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.45 Td (on investment securities\) in other regulatory liabilities) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 298.61 348.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 304.36 348.45 Td ( ) Tj ET Q q 0 0 0 rg BT 307.03 348.45 Td (The following table includes the unrealized gains and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.65 Td (losses based on the original cost of the investment and summarizes the fair value of ) Tj ET Q q 0 0 0 rg BT 435.62 334.65 Td (APS) Tj ET Q q 0 0 0 rg BT 459.91 334.65 Td (s nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.85 Td (decommissioning trust fund assets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 221.67 320.85 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.04 320.85 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 334.40 320.85 Td (December 31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 424.77 320.85 Td ( \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 307.05 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 268.55 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 268.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 268.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 268.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 268.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 268.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 240.55 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 240.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 240.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 240.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 240.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 240.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 212.55 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 212.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 212.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 212.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 212.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 212.55 65.00 -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 359 268.54999999999995 m 424 268.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 268.54999999999995 m 493 268.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 268.54999999999995 m 562 268.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 212.54999999999995 m 424 212.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 212.54999999999995 m 493 212.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 212.54999999999995 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 359 212.54999999999995 m 424 212.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 199.54999999999995 m 424 199.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 197.54999999999995 m 424 197.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 212.54999999999995 m 493 212.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 199.54999999999995 m 493 199.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 197.54999999999995 m 493 197.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 212.54999999999995 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 497 199.54999999999995 m 562 199.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 197.54999999999995 m 562 197.54999999999995 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 271.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.15 272.78 Td (FairValue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.25 288.63 Td (T) Tj ET Q q 0 0 0 rg BT 455.85 288.63 Td (otal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.40 280.63 Td (Unr) Tj ET Q q 0 0 0 rg BT 455.03 280.63 Td (ealized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.95 272.63 Td (Gains) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.25 288.63 Td (T) Tj ET Q q 0 0 0 rg BT 524.85 288.63 Td (otal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.40 280.63 Td (Unr) Tj ET Q q 0 0 0 rg BT 524.03 280.63 Td (ealized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.85 272.63 Td (Losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 259.12 Td (December 31, 2014) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 257.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 257.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 257.31 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 245.12 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 245.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 245.12 Td (310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 245.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 245.12 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 245.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 245.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 231.12 Td (Fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 231.12 Td (411) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 231.12 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.80 231.17 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 231.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 217.12 Td (Net payables \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 217.17 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 217.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 217.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 217.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 203.12 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 203.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 203.12 Td (714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 203.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 203.12 Td (176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 203.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.80 203.17 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 203.12 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 185.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 146.75 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 146.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 146.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 146.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 146.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 146.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 118.75 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 118.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 118.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 118.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 118.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 118.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 90.75 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 90.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 90.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 90.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 90.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 90.75 65.00 -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 359 146.75 m 424 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 146.75 m 493 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 146.75 m 562 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 146.75 m 424 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 146.75 m 493 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 146.75 m 562 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 90.75 m 424 90.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 90.75 m 493 90.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 90.75 m 562 90.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 90.75 m 424 90.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 77.75 m 424 77.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 75.75 m 424 75.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 90.75 m 493 90.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 77.75 m 493 77.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 75.75 m 493 75.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 90.75 m 562 90.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 77.75 m 562 77.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 75.75 m 562 75.75 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 149.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.15 150.98 Td (FairValue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.25 166.83 Td (T) Tj ET Q q 0 0 0 rg BT 455.85 166.83 Td (otal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.40 158.83 Td (Unr) Tj ET Q q 0 0 0 rg BT 455.03 158.83 Td (ealized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.95 150.83 Td (Gains) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.25 166.83 Td (T) Tj ET Q q 0 0 0 rg BT 524.85 166.83 Td (otal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.40 158.83 Td (Unr) Tj ET Q q 0 0 0 rg BT 524.03 158.83 Td (ealized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.85 150.83 Td (Losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 137.32 Td (December 31, 2013) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 135.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 135.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 135.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 123.32 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 123.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 123.32 Td (272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 123.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 123.32 Td (129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 123.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 123.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 109.32 Td (Fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 109.32 Td (373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 109.32 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.80 109.37 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 109.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 95.32 Td (Net payables \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 95.37 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 95.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 95.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 95.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 81.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 81.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 81.32 Td (642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 81.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 81.32 Td (140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 81.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.80 81.37 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 81.32 Td (\)) Tj ET Q 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 289 0 obj <>] /Rotate 0 /Contents 290 0 R>> endobj 290 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (141) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 721.05 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 721.05 Td (Net payables relate to pending purchases and sales of securities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.45 Td (The costs of securities sold are determined on the basis of specific identification. ) Tj ET Q q 0 0 0 rg BT 462.45 693.45 Td (The following table ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (sets forth approximate gains and losses and proceeds from the sale of securities by the nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (decommissioning trust funds \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 617.55 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 617.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 617.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 617.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 617.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 617.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 589.55 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 589.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 589.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 589.55 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 589.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 589.55 65.00 -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 359 629.55 m 424 629.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 629.55 m 428 629.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 629.55 m 493 629.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 629.55 m 497 629.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 629.55 m 562 629.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 629.55 m 424 629.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 617.55 m 424 617.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 629.55 m 428 629.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 629.55 m 493 629.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 617.55 m 493 617.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 629.55 m 497 629.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 629.55 m 562 629.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 617.55 m 562 617.55 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 632.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.70 633.63 Td (YearEndedDecember31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 620.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 621.63 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 621.63 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 621.63 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 608.12 Td (Realized gains) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 608.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 608.12 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 608.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 608.12 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 608.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 608.12 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 594.12 Td (Realized losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 594.17 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 594.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.80 594.17 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 594.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.80 594.17 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 594.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 580.12 Td (Proceeds from the sale of securities \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 580.12 Td (356) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 580.12 Td (446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 580.12 Td (418) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 542.45 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 542.45 Td (Proceeds are reinvested in the trust.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 528.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 514.85 Td (The fair value of fixed income securities, summarized by contractual maturities, at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.06 514.85 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.43 514.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 501.05 Td (is as follows \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 487.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 464.75 447.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 464.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 436.75 447.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 436.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 408.75 447.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 408.75 65.00 -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 497 464.75 m 562 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 464.75 m 562 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 408.75 m 562 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 408.75 m 562 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 395.75 m 562 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 393.75 m 562 393.75 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 467.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.15 468.83 Td (FairValue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 455.32 Td (Less than one year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 455.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 455.32 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 441.32 Td (1 year 5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 441.32 Td (116) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 427.32 Td (5 years 10 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 427.32 Td (122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 413.32 Td (Greater than 10 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 413.32 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 399.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 399.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 399.32 Td (411) Tj ET Q BT /F1 11.50 Tf ET BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 367.65 Td (20.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.88 367.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.38 367.65 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 89.25 367.65 Td (Changes in ) Tj ET Q q 0 0 0 rg BT 146.13 367.65 Td (Accumulated Other) Tj ET Q q 0 0 0 rg BT 243.34 367.65 Td ( Compr) Tj ET Q q 0 0 0 rg BT 281.14 367.65 Td (ehensive Loss) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 340.05 Td (The following table shows the changes in accumulated other comprehensive loss, including ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 326.25 Td (reclassification adjustments, net of tax, by component for the year ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 386.41 326.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 476.78 326.25 Td ( \(dollars in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 312.45 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 253.95 266.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 253.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 253.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 253.95 18.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 253.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 253.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 253.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 253.95 18.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 253.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 253.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 225.95 266.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 225.95 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 225.95 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 225.95 18.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 225.95 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 225.95 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 225.95 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 225.95 18.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 225.95 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 225.95 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 187.95 266.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 187.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 187.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 187.95 18.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 187.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 187.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 187.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 187.95 18.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 187.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 187.95 65.00 -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 316 289.95000000000005 m 381 289.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 289.95000000000005 m 385 289.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 289.95000000000005 m 403 289.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 289.95000000000005 m 407 289.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 289.95000000000005 m 472 289.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 289.95000000000005 m 476 289.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 289.95000000000005 m 494 289.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 289.95000000000005 m 498 289.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 289.95000000000005 m 563 289.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 253.95000000000005 m 381 253.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 253.95000000000005 m 472 253.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 253.95000000000005 m 563 253.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 239.95000000000005 m 381 239.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 239.95000000000005 m 472 239.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 239.95000000000005 m 563 239.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 201.95000000000005 m 381 201.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 201.95000000000005 m 472 201.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 201.95000000000005 m 563 201.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 187.95000000000005 m 381 187.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 187.95000000000005 m 472 187.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 187.95000000000005 m 563 187.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 187.95000000000005 m 381 187.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 174.95000000000005 m 381 174.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 172.95000000000005 m 381 172.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 187.95000000000005 m 472 187.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 174.95000000000005 m 472 174.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 172.95000000000005 m 472 172.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 187.95000000000005 m 563 187.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 174.95000000000005 m 563 174.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 172.95000000000005 m 563 172.95000000000005 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 292.67 Td () Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 380.05 293.63 Td (Year Ended December 31, 2014) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 256.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.20 266.18 Td (Derivative) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.10 258.18 Td (Instruments) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 393.50 256.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.20 282.03 Td (Pensionand) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.85 274.03 Td (Other) Tj ET Q q 0 0 0 rg BT 449.14 274.03 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.60 266.03 Td (Postr) Tj ET Q q 0 0 0 rg BT 431.67 266.03 Td (etir) Tj ET Q q 0 0 0 rg BT 443.51 266.03 Td (ement) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.20 258.03 Td (Benefits) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 484.50 256.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.25 258.18 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 244.52 Td (Beginning balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 244.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.30 244.57 Td (\(23,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 244.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.50 244.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.30 244.57 Td (\(54,995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 244.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 244.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 244.57 Td (\(78,053) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 244.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 230.52 Td (OCI \(loss\) before reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.80 230.57 Td (\(810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 230.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.30 230.57 Td (\(5,419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 230.52 Td (\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 478.50 228.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 230.57 Td (\(6,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 230.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 216.52 Td (Amounts reclassified from accumulated other comprehensive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 206.52 Td (loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 206.62 Td (13,483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 206.62 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 206.62 Td (2,658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.50 206.62 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 206.62 Td (16,141) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 192.52 Td (Net current period OCI \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 192.52 Td (12,673) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 387.50 190.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.30 192.57 Td (\(2,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 192.52 Td (\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 478.50 190.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 192.52 Td (9,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 178.52 Td (Ending balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 178.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.30 178.57 Td (\(10,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 178.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.50 178.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.30 178.57 Td (\(57,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 178.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 178.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 178.57 Td (\(68,141) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 178.52 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 146.85 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 146.85 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 103.50 133.05 Td (purchased power costs and are subject to the PSA. See Note 16.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 119.25 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 119.25 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 103.50 105.45 Td (computation of net periodic pension cost. See Note 7.) 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 50 772.93359375 m 108.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 760.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 760.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 760.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 760.20 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 760.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 760.20 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.40 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.40 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.40 Td (TEMENTS) Tj ET Q endstream endobj 291 0 obj <>] /Rotate 0 /Contents 292 0 R>> endobj 292 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (142) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (The following table shows the changes in accumulated other comprehensive loss, including ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (reclassification adjustments, net of tax, by component for the year ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 386.41 707.25 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 476.78 707.25 Td ( \(dollars in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 634.95 266.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 634.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 634.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 634.95 18.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 634.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 634.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 634.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 634.95 18.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 634.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 634.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 606.95 266.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 606.95 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 606.95 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 606.95 18.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 606.95 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 606.95 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 606.95 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 606.95 18.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 606.95 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 606.95 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 568.95 266.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 568.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 568.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 568.95 18.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 568.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 568.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 568.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 568.95 18.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 568.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 568.95 65.00 -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 316 670.95 m 381 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 670.95 m 385 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 670.95 m 403 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 670.95 m 407 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 670.95 m 472 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 670.95 m 476 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 670.95 m 494 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 670.95 m 498 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 670.95 m 563 670.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 634.95 m 381 634.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 634.95 m 472 634.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 634.95 m 563 634.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 634.95 m 381 634.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 620.95 m 381 620.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 634.95 m 472 634.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 620.95 m 472 620.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 634.95 m 563 634.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 620.95 m 563 620.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 620.95 m 381 620.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 582.95 m 381 582.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 582.95 m 472 582.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 582.95 m 563 582.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 568.95 m 381 568.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 568.95 m 472 568.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 568.95 m 563 568.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 568.95 m 381 568.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 555.95 m 381 555.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 553.95 m 381 553.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 568.95 m 472 568.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 555.95 m 472 555.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 553.95 m 472 553.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 568.95 m 563 568.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 555.95 m 563 555.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 553.95 m 563 553.95 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 673.67 Td () Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 380.05 674.63 Td (Year Ended December 31, 2013) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 637.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.20 647.18 Td (Derivative) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.10 639.18 Td (Instruments) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 393.50 637.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.20 663.03 Td (Pensionand) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.85 655.03 Td (Other) Tj ET Q q 0 0 0 rg BT 449.14 655.03 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.60 647.03 Td (Postr) Tj ET Q q 0 0 0 rg BT 431.67 647.03 Td (etir) Tj ET Q q 0 0 0 rg BT 443.51 647.03 Td (ement) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.20 639.03 Td (Benefits) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 484.50 637.67 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.25 639.18 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 625.52 Td (Beginning balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 625.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.30 625.57 Td (\(49,592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 625.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.50 625.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.30 625.57 Td (\(64,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 625.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 625.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 625.57 Td (\(114,008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 625.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 611.52 Td (OCI \(loss\) before reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.80 611.57 Td (\(213) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 611.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 611.52 Td (5,594) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 478.50 609.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 611.52 Td (5,381) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 597.52 Td (Amounts reclassified from accumulated other comprehensive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 587.52 Td (loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 587.62 Td (26,747) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 587.62 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 587.62 Td (3,827) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.50 587.62 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 587.62 Td (30,574) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 573.52 Td (Net current period OCI) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 573.52 Td (26,534) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 387.50 571.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 573.52 Td (9,421) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 478.50 571.71 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 573.52 Td (35,955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 559.52 Td (Ending balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 559.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.30 559.57 Td (\(23,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 559.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.50 559.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.30 559.57 Td (\(54,995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 559.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 559.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 559.57 Td (\(78,053) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 559.52 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 527.85 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 527.85 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 103.50 514.05 Td (purchased power costs and are subject to the PSA. See Note 16.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 500.25 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 500.25 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 103.50 486.45 Td (computation of net periodic pension cost. See Note 7.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 293 0 obj <>] /Rotate 0 /Contents 294 0 R>> endobj 294 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (143) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 160.60 734.75 Td (MANAGEMENTS REPOR) Tj ET Q q 0 0 0 rg BT 300.43 734.75 Td (T) Tj ET Q q 0 0 0 rg BT 307.90 734.75 Td ( ON INTERNAL) Tj ET Q q 0 0 0 rg BT 390.97 734.75 Td ( CONTROL) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 219.60 720.95 Td (OVER FINANCIAL) Tj ET Q q 0 0 0 rg BT 320.24 720.95 Td ( REPOR) Tj ET Q q 0 0 0 rg BT 362.96 720.95 Td (TING) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 194.30 707.15 Td (\(ARIZONA) Tj ET Q q 0 0 0 rg BT 251.81 707.15 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 322.98 707.15 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 388.88 707.15 Td (ANY\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 679.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 665.75 Td (Our management is responsible for establishing and maintaining adequate internal control over ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td (financial reporting, as such term is defined in Exchange ) Tj ET Q q 0 0 0 rg BT 308.17 651.95 Td (Act Rules13a-15\(f\), for ) Tj ET Q q 0 0 0 rg BT 421.55 651.95 Td (APS. Management conducted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.15 Td (an evaluation of the ef) Tj ET Q q 0 0 0 rg BT 152.11 638.15 Td (fectiveness of our internal control over financial reporting based on the framework in ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 624.35 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 115.84 624.35 Td (ol Integrated Framework \(2013\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 278.74 624.35 Td ( issued by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 478.17 624.35 Td (ganizations of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.12 610.55 Td (readway Commission. Based on our evaluation under the framework in ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 390.18 610.55 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 456.52 610.55 Td (ol Integrated ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 596.75 Td (Framework \(2013\),) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.57 596.75 Td ( our management concluded that our internal control over financial reporting was ef) Tj ET Q q 0 0 0 rg BT 525.12 596.75 Td (fective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.95 Td (as of December31, 2014. ) Tj ET Q q 0 0 0 rg BT 173.20 582.95 Td (The ef) Tj ET Q q 0 0 0 rg BT 202.68 582.95 Td (fectiveness of our internal control over financial reporting as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 497.11 582.95 Td (December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 569.15 Td ( has been audited by Deloitte& ) Tj ET Q q 0 0 0 rg BT 220.80 569.15 Td (T) Tj ET Q q 0 0 0 rg BT 227.02 569.15 Td (ouche LLP) Tj ET Q q 0 0 0 rg BT 276.52 569.15 Td (, an independent registered public accounting firm, as stated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (in their report which is included herein and also relates to the Company) Tj ET Q q 0 0 0 rg BT 381.64 555.35 Td (s financial statements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.75 Td (February20, 2015) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 295 0 obj <>] /Rotate 0 /Contents 296 0 R>> endobj 296 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (144) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 734.75 Td (REPOR) Tj ET Q q 0 0 0 rg BT 89.35 734.75 Td (T) Tj ET Q q 0 0 0 rg BT 96.81 734.75 Td ( OF) Tj ET Q q 0 0 0 rg BT 115.23 734.75 Td ( INDEPENDENT) Tj ET Q q 0 0 0 rg BT 201.60 734.75 Td ( REGISTERED PUBLIC ) Tj ET Q q 0 0 0 rg BT 328.46 734.75 Td (ACCOUNTING FIRM) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.15 Td (T) Tj ET Q q 0 0 0 rg BT 55.72 707.15 Td (o the Board of Directors and Stockholder of) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.35 Td (Arizona Public Service Company) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.55 Td (Phoenix, ) Tj ET Q q 0 0 0 rg BT 92.31 679.55 Td (Arizona) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 651.95 Td (e have audited the accompanying consolidated balance sheets of ) Tj ET Q q 0 0 0 rg BT 357.37 651.95 Td (Arizona Public Service Company and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.15 Td (subsidiary \(the Company\) as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 206.95 638.15 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.32 638.15 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 319.68 638.15 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 342.68 638.15 Td (, and the related consolidated statements of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.35 Td (income, comprehensive income, changes in equity) Tj ET Q q 0 0 0 rg BT 280.92 624.35 Td (, and cash flows for each of the three years in the period ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 79.83 610.55 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 170.21 610.55 Td (. Our audits also included the financial statement schedule listed in the Index at Item ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.75 Td (15. ) Tj ET Q q 0 0 0 rg BT 69.42 596.75 Td (W) Tj ET Q q 0 0 0 rg BT 79.35 596.75 Td (e also have audited the Company) Tj ET Q q 0 0 0 rg BT 234.88 596.75 Td (s internal control over financial reporting as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 452.03 596.75 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.40 596.75 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.95 Td (based on criteria established in ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 194.16 582.95 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 260.50 582.95 Td (ol Integrated Framework \(2013\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 423.40 582.95 Td ( issued by the Committee of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (Sponsoring Or) Tj ET Q q 0 0 0 rg BT 116.70 569.15 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 201.12 569.15 Td (T) Tj ET Q q 0 0 0 rg BT 207.74 569.15 Td (readway Commission. ) Tj ET Q q 0 0 0 rg BT 316.13 569.15 Td (The Company) Tj ET Q q 0 0 0 rg BT 384.80 569.15 Td (s management is responsible for these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (financial statements and financial statement schedule, for maintaining ef) Tj ET Q q 0 0 0 rg BT 382.36 555.35 Td (fective internal control over financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.55 Td (reporting, and for its assessment of the ef) Tj ET Q q 0 0 0 rg BT 239.00 541.55 Td (fectiveness of internal control over financial reporting, included in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.75 Td (accompanying Management) Tj ET Q q 0 0 0 rg BT 182.66 527.75 Td (s Report on Internal Control over Financial Reporting. Our responsibility is to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.95 Td (express an opinion on these financial statements and financial statement schedule and an opinion on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.15 Td (Company) Tj ET Q q 0 0 0 rg BT 97.42 500.15 Td (s internal control over financial reporting based on our audits.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.55 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 472.55 Td (e conducted our audits in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 427.66 472.55 Td (Accounting Oversight Board ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.75 Td (\(United States\). ) Tj ET Q q 0 0 0 rg BT 127.22 458.75 Td (Those standards require that we plan and perform the audit to obtain reasonable assurance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.95 Td (about whether the financial statements are free of material misstatement and whether ef) Tj ET Q q 0 0 0 rg BT 451.63 444.95 Td (fective internal control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.15 Td (over financial reporting was maintained in all material respects. Our audits of the financial statements ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.35 Td (included examining, on a test basis, evidence supporting the amounts and disclosures in the financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.55 Td (statements, assessing the accounting principles used and significant estimates made by management, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.75 Td (evaluating the overall financial statement presentation. Our audit of internal control over financial reporting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.95 Td (included obtaining an understanding of internal control over financial reporting, assessing the risk that a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.15 Td (material weakness exists, testing and evaluating the design and operating ef) Tj ET Q q 0 0 0 rg BT 397.07 362.15 Td (fectiveness of internal control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.35 Td (based on the assessed risk. Our audits also included performing such other procedures as we considered ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.55 Td (necessary in the circumstances. ) Tj ET Q q 0 0 0 rg BT 196.50 334.55 Td (W) Tj ET Q q 0 0 0 rg BT 206.43 334.55 Td (e believe that our audits provide a reasonable basis for our opinions.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 306.95 Td (A) Tj ET Q q 0 0 0 rg BT 57.17 306.95 Td ( company) Tj ET Q q 0 0 0 rg BT 105.40 306.95 Td (s internal control over financial reporting is a process designed by) Tj ET Q q 0 0 0 rg BT 408.04 306.95 Td (, or under the supervision of, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.15 Td (company) Tj ET Q q 0 0 0 rg BT 94.85 293.15 Td (s principal executive and principal financial of) Tj ET Q q 0 0 0 rg BT 308.59 293.15 Td (ficers, or persons performing similar functions, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.35 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 279.35 Td (fected by the company) Tj ET Q q 0 0 0 rg BT 165.84 279.35 Td (s board of directors, management, and other personnel to provide reasonable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.55 Td (assurance regarding the reliability of financial reporting and the preparation of financial statements for external ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.75 Td (purposes in accordance with generally accepted accounting principles. ) Tj ET Q q 0 0 0 rg BT 378.40 251.75 Td (A) Tj ET Q q 0 0 0 rg BT 386.07 251.75 Td ( company) Tj ET Q q 0 0 0 rg BT 434.30 251.75 Td (s internal control over ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.95 Td (financial reporting includes those policies and procedures that \(1\)pertain to the maintenance of records that, in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.15 Td (reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.35 Td (\(2\)provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.55 Td (statements in accordance with generally accepted accounting principles and that receipts and expenditures of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.75 Td (the company are being made only in accordance with authorizations of management and directors of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.95 Td (company; and \(3\)provide reasonable assurance regarding prevention or timely detection of unauthorized ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.15 Td (acquisition, use, or disposition of the company) Tj ET Q q 0 0 0 rg BT 267.34 155.15 Td (s assets that could have a material ef) Tj ET Q q 0 0 0 rg BT 434.78 155.15 Td (fect on the financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.35 Td (statements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.75 Td (Because of the inherent limitations of internal control over financial reporting, including the possibility of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.95 Td (collusion or improper management override of controls, material misstatements due to error or fraud may not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.15 Td (be prevented or detected on a timely basis. ) Tj ET Q q 0 0 0 rg BT 250.69 86.15 Td (Also, projections of any evaluation of the ef) Tj ET Q q 0 0 0 rg BT 452.95 86.15 Td (fectiveness of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.35 Td (internal control over financial reporting to future periods are subject to the risk that the controls may become ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 297 0 obj <>] /Rotate 0 /Contents 298 0 R>> endobj 298 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (145) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 734.55 Td (inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 720.75 Td (may deteriorate.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (In our opinion, the consolidated financial statements referred to above present fairly) Tj ET Q q 0 0 0 rg BT 435.15 693.15 Td (, in all material respects, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (the financial position of ) Tj ET Q q 0 0 0 rg BT 161.29 679.35 Td (Arizona Public Service Company and subsidiary as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 412.96 679.35 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 503.33 679.35 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 525.69 679.35 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.69 679.35 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (and the results of their operations and their cash flows for each of the three years in the period ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.87 651.75 Td (, in conformity with accounting principles generally accepted in the United States of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (America. ) Tj ET Q q 0 0 0 rg BT 97.08 637.95 Td (Also, in our opinion, such financial statement schedule, when considered in relation to the basic ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td (consolidated financial statements taken as a whole, present fairly) Tj ET Q q 0 0 0 rg BT 347.34 624.15 Td (, in all material respects, the information set ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (forth therein. ) Tj ET Q q 0 0 0 rg BT 114.65 610.35 Td (Also, in our opinion, the Company maintained, in all material respects, ef) Tj ET Q q 0 0 0 rg BT 452.66 610.35 Td (fective internal control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (over financial reporting as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 185.85 596.55 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 276.23 596.55 Td (, based on the criteria established in ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 443.56 596.55 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 509.90 596.55 Td (ol ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (Integrated Framework \(2013\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 187.47 582.75 Td ( issued by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 386.91 582.75 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 471.33 582.75 Td (T) Tj ET Q q 0 0 0 rg BT 477.95 582.75 Td (readway ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (Commission.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 535.22 Td (/s/ Deloitte& Touche LLP) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 308.50 541.46 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 520.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 520.22 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 504.18 Td (Phoenix, Arizona) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 308.50 511.46 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 489.18 Td (February20, 2015) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 308.50 496.46 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 299 0 obj <>] /Rotate 0 /Contents 300 0 R>> endobj 300 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (146) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 734.75 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 734.75 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 734.75 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 734.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 184.95 720.95 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.75 720.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 293.48 720.95 Td (A) Tj ET Q q 0 0 0 rg BT 300.94 720.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 375.59 720.95 Td ( INCOME) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 252.60 707.15 Td (\(dollars in thousands\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 693.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 658.85 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 658.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 658.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 658.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 658.85 4.00 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420.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 420.85 m 562 420.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 406.85 m 424 406.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 406.85 m 493 406.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 406.85 m 562 406.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 322.85 m 424 322.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 322.85 m 493 322.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 322.85 m 562 322.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 308.85 m 424 308.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 308.85 m 493 308.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 308.85 m 562 308.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 252.85000000000002 m 424 252.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 252.85000000000002 m 493 252.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 252.85000000000002 m 562 252.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 225.85000000000002 m 424 225.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 223.85000000000002 m 424 223.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 225.85000000000002 m 493 225.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 223.85000000000002 m 493 223.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 225.85000000000002 m 562 225.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 223.85000000000002 m 562 223.85000000000002 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 673.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.70 674.93 Td (YearEndedDecember31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 661.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 662.93 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 662.93 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 662.93 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 635.42 Td (ELECTRIC OPERATING REVENUES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 635.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 635.42 Td (3,488,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 635.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 635.42 Td (3,451,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 635.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 635.42 Td (3,293,489) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 607.42 Td (OPERATING EXPENSES) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 605.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 605.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 605.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 593.42 Td (Fuel and purchased power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 593.42 Td (1,179,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 593.42 Td (1,095,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 593.42 Td (994,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 579.42 Td (Operations and maintenance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 579.42 Td (882,442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 579.42 Td (897,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 579.42 Td (873,916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 565.42 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 565.42 Td (417,264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 565.42 Td (415,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 565.42 Td (404,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 551.42 Td (Income taxes \(Notes 4 and S-1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 551.42 Td (245,036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 551.42 Td (256,864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 551.42 Td (256,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 537.42 Td (Taxes other than income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 537.42 Td (171,583) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 537.42 Td (163,377) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 537.42 Td (158,412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 523.42 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 523.42 Td (2,896,154) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 523.42 Td (2,829,386) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 523.42 Td (2,687,960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 509.42 Td (OPERATING INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 509.42 Td (592,792) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 509.42 Td (621,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 509.42 Td (605,529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 481.42 Td (OTHER INCOME \(DEDUCTIONS\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 479.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 479.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 479.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 467.42 Td (Income taxes \(Notes 4 and S-1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 467.42 Td (7,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 467.42 Td (11,769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 467.42 Td (12,204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 453.42 Td (Allowance for equity funds used during construction \(Note 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 453.42 Td (30,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 453.42 Td (25,581) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 453.42 Td (22,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 439.42 Td (Other income \(Note S-3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 439.42 Td (11,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 439.42 Td (3,896) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 439.42 Td (2,868) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 425.42 Td (Other expense \(Note S-3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 425.47 Td (\(13,403) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 425.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 425.47 Td (\(20,449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 425.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 425.47 Td (\(21,150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 425.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 411.42 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 411.42 Td (36,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 411.42 Td (20,797) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 411.42 Td (16,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 383.42 Td (INTEREST EXPENSE) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 381.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 381.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 381.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 369.42 Td (Interest on long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 369.42 Td (186,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 369.42 Td (188,011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 369.42 Td (198,398) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 355.42 Td (Interest on short-term borrowings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 355.42 Td (6,796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 355.42 Td (6,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 355.42 Td (7,135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 341.42 Td (Debt discount, premium and expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 341.42 Td (4,168) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 341.42 Td (4,046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 341.42 Td (4,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 327.42 Td (Allowance for borrowed funds used during construction \(Note 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 327.47 Td (\(15,457) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 327.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 327.47 Td (\(14,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 327.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 327.47 Td (\(14,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 327.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 313.42 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 313.42 Td (181,830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 313.42 Td (183,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 313.42 Td (194,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 285.42 Td (NET INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 285.42 Td (447,320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 285.42 Td (458,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 285.42 Td (427,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 257.42 Td (Less: Net income attributable to noncontrolling interests \(Note 18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 257.42 Td (26,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 257.42 Td (33,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 257.42 Td (31,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 229.42 Td (NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDER) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 229.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 229.42 Td (421,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 229.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 229.42 Td (424,969) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 229.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 229.42 Td (395,497) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 211.55 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 199.55 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 139.30 199.55 Td (W) Tj ET Q q 0 0 0 rg BT 147.94 199.55 Td (est) Tj ET Q q 0 0 0 rg BT 161.82 199.55 Td (s Consolidated Financial Statements and Supplemental Notes to ) Tj ET Q q 0 0 0 rg BT 419.57 199.55 Td (Arizona Public Service Company) Tj ET Q q 0 0 0 rg BT 556.48 199.55 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 187.55 Td (Consolidated Financial Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 301 0 obj <>] /Rotate 0 /Contents 302 0 R>> endobj 302 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (147) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 734.75 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 734.75 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 734.75 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 734.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 132.05 720.95 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 200.85 720.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 240.58 720.95 Td (A) Tj ET Q q 0 0 0 rg BT 248.04 720.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 322.69 720.95 Td ( COMPREHENSIVE INCOME) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 252.60 707.15 Td (\(dollars in thousands\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 658.85 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 658.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 658.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 658.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 658.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 658.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 630.85 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 630.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 630.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 630.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 630.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 630.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 592.85 309.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 592.85 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 592.85 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 592.85 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 592.85 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 592.85 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 544.85 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 544.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 544.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 544.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 544.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 544.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 516.85 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 516.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 516.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 516.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 516.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 516.85 65.00 -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 359 670.85 m 424 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 670.85 m 428 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 670.85 m 493 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 670.85 m 497 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 670.85 m 562 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 670.85 m 424 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 658.85 m 424 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 670.85 m 428 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 670.85 m 493 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 658.85 m 493 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 670.85 m 497 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 670.85 m 562 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 658.85 m 562 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 544.85 m 424 544.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 544.85 m 493 544.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 544.85 m 562 544.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 530.85 m 424 530.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 530.85 m 493 530.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 530.85 m 562 530.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 502.85 m 424 502.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 502.85 m 493 502.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 502.85 m 562 502.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 479.85 m 424 479.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 477.85 m 424 477.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 479.85 m 493 479.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 477.85 m 493 477.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 479.85 m 562 479.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 477.85 m 562 477.85 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 673.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.70 674.93 Td (YearEndedDecember31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 661.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 662.93 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 662.93 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 662.93 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 649.42 Td (NET INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 649.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 649.42 Td (447,320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 649.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 649.42 Td (458,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 649.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 649.42 Td (427,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 635.42 Td (OTHER COMPREHENSIVE INCOME \(LOSS\), NET OF TAX) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 633.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 633.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 633.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 621.42 Td (Derivative instruments:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 619.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 619.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 619.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 607.42 Td (Net unrealized loss, net of tax benefit \(expense\) of $\(438\), $140, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 597.42 Td ($14,888 \(Note 16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.80 597.57 Td (\(809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 597.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.80 597.57 Td (\(214) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 597.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 597.57 Td (\(22,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 597.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 583.42 Td (Reclassification of net realized loss, net of tax benefit of $7,932, $17,472,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 573.42 Td (and $39,119 \(Note 16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 573.52 Td (13,483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 573.52 Td (26,747) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 573.52 Td (59,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 559.42 Td (Pension and other postretirement benefits activity, net of tax \(expense\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 549.42 Td (benefit of $4,655, $\(6,003\), and $408 \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.30 549.57 Td (\(7,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 549.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 549.52 Td (9,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 549.57 Td (\(617) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 549.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 535.42 Td (Total other comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 535.42 Td (5,039) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 535.42 Td (35,723) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 535.42 Td (36,496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 521.42 Td (COMPREHENSIVE INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 521.42 Td (452,359) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 521.42 Td (494,584) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 521.42 Td (463,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 507.42 Td (Less: Comprehensive income attributable to noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 507.42 Td (26,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 507.42 Td (33,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 507.42 Td (31,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 493.42 Td (COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 483.42 Td (SHAREHOLDER) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 483.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 483.52 Td (426,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 483.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 483.52 Td (460,692) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 483.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 483.52 Td (431,993) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.55 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 453.55 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 139.30 453.55 Td (W) Tj ET Q q 0 0 0 rg BT 147.94 453.55 Td (est) Tj ET Q q 0 0 0 rg BT 161.82 453.55 Td (s Consolidated Financial Statements and Supplemental Notes to ) Tj ET Q q 0 0 0 rg BT 419.57 453.55 Td (APS) Tj ET Q q 0 0 0 rg BT 440.69 453.55 Td (s Consolidated Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 441.55 Td (Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 303 0 obj <>] /Rotate 0 /Contents 304 0 R>> endobj 304 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (148) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 734.75 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 734.75 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 734.75 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 734.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 206.40 720.95 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 275.20 720.95 Td (TED BALANCE SHEETS) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 252.60 707.15 Td (\(dollars in thousands\)) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 306.00 693.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 658.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 658.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 658.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 658.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 630.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 630.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 630.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 630.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 602.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 602.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 602.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 602.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 574.85 379.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 574.85 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 574.85 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 574.85 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 536.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 536.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 536.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 536.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 508.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 508.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 508.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 508.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 480.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 480.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 480.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 480.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 452.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 452.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 452.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 452.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 424.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 424.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 424.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 424.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 396.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 396.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 396.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 396.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 368.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 368.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 368.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 368.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 340.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 340.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 340.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 340.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 312.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 312.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 312.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 312.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 284.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 284.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 284.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 284.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 256.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 256.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 256.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 256.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 228.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 228.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 228.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 228.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 200.85 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 200.85 65.00 -14.00 re f /GS0 gs 0.8 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i [] 0 d 0 J 0 j 3 M 498 658.85 m 563 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 602.85 m 494 602.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 602.85 m 563 602.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 522.85 m 494 522.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 522.85 m 563 522.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 508.85 m 494 508.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 508.85 m 563 508.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 452.85 m 494 452.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 452.85 m 563 452.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 438.85 m 494 438.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 438.85 m 563 438.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 256.85 m 494 256.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 256.85 m 563 256.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 242.85000000000002 m 494 242.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 242.85000000000002 m 563 242.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 172.85000000000002 m 494 172.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 172.85000000000002 m 563 172.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 158.85000000000002 m 494 158.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 158.85000000000002 m 563 158.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 145.85000000000002 m 494 145.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 143.85000000000002 m 494 143.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 145.85000000000002 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 498 143.85000000000002 m 563 143.85000000000002 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 673.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.25 674.93 Td (December31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 661.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.00 662.93 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.00 662.93 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 649.42 Td (ASSETS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 647.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 647.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 635.42 Td (PROPERTY, PLANT AND EQUIPMENT \(Notes 1, 6 and 9\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 633.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 633.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 621.42 Td (Plant in service and held for future use) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 621.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.10 621.42 Td (15,539,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 621.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.10 621.42 Td (15,196,598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 607.42 Td (Accumulated depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.80 607.47 Td (\(5,394,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 607.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.80 607.47 Td (\(5,296,501) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 607.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 593.42 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.10 593.42 Td (10,145,161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 593.42 Td (9,900,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 579.42 Td (Construction work in progress) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 579.42 Td (682,807) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 579.42 Td (581,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 565.42 Td (Palo Verde sale leaseback, net of accumulated depreciation of $229,795 and $225,925) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 555.42 Td (\(Note 18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 555.52 Td (121,255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 555.52 Td (125,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 541.42 Td (Intangible assets, net of accumulated amortization of $489,538 and $439,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 541.42 Td (119,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 541.42 Td (157,534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 527.42 Td (Nuclear fuel, net of accumulated amortization of $143,554 and $146,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 527.42 Td (125,201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 527.42 Td (124,557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 513.42 Td (Total property, plant and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.10 513.42 Td (11,194,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.10 513.42 Td (10,888,682) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 499.42 Td (INVESTMENTS AND OTHER ASSETS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 497.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 497.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 485.42 Td (Nuclear decommissioning trust \(Notes 13 and 19\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 485.42 Td (713,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 485.42 Td (642,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 471.42 Td (Assets from risk management activities \(Note 16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 471.42 Td (17,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 471.42 Td (23,815) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 457.42 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 457.42 Td (33,362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 457.42 Td (33,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 443.42 Td (Total investments and other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 443.42 Td (764,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 443.42 Td (699,531) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 429.42 Td (CURRENT ASSETS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 427.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 427.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 415.42 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 415.42 Td (4,515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 415.42 Td (3,725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 401.42 Td (Customer and other receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 401.42 Td (297,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 401.42 Td (299,055) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 387.42 Td (Accrued unbilled revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 387.42 Td (100,533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 387.42 Td (96,796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 373.42 Td (Allowance for doubtful accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.30 373.47 Td (\(3,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 373.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 373.47 Td (\(3,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 373.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 359.42 Td (Materials and supplies \(at average cost\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 359.42 Td (218,889) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 359.42 Td (221,682) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 345.42 Td (Fossil fuel \(at average cost\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 345.42 Td (37,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 345.42 Td (38,028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 331.42 Td (Income tax receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 331.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 331.42 Td (135,179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 317.42 Td (Assets from risk management activities \(Note 16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 317.42 Td (13,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 317.42 Td (17,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 303.42 Td (Deferred fuel and purchased power regulatory asset \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 303.42 Td (6,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 303.42 Td (20,755) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 289.42 Td (Other regulatory assets \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 289.42 Td (129,808) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 289.42 Td (76,388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 275.42 Td (Deferred income taxes \(Notes 4 and S-1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 275.42 Td (55,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 275.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 261.42 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 261.42 Td (38,693) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 261.42 Td (39,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 247.42 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 247.42 Td (900,117) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 247.42 Td (944,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 233.42 Td (DEFERRED DEBITS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 490.50 231.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 231.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 219.42 Td (Regulatory assets \(Notes 1, 3, 4 and S-1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 219.42 Td (1,054,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 219.42 Td (711,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 205.42 Td (Assets for other postretirement benefits \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 205.42 Td (149,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 205.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 191.42 Td (Unamortized debt issue costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 191.42 Td (24,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 191.42 Td (21,860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 177.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 177.42 Td (128,026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 177.42 Td (114,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 163.42 Td (Total deferred debits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 163.42 Td (1,356,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 163.42 Td (848,437) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 149.42 Td (TOTAL ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 149.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.10 149.42 Td (14,215,004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 149.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.10 149.42 Td (13,381,377) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 133.35 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 121.35 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 139.30 121.35 Td (W) Tj ET Q q 0 0 0 rg BT 147.94 121.35 Td (est) Tj ET Q q 0 0 0 rg BT 161.82 121.35 Td (s Consolidated Financial Statements and Supplemental Notes to ) Tj ET Q q 0 0 0 rg BT 419.57 121.35 Td (APS) Tj ET Q q 0 0 0 rg BT 440.69 121.35 Td (s Consolidated Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 109.35 Td (Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 305 0 obj <>] /Rotate 0 /Contents 306 0 R>> endobj 306 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (149) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 734.75 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 734.75 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 734.75 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 734.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 206.40 720.95 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 275.20 720.95 Td (TED BALANCE SHEETS) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 252.60 707.15 Td (\(dollars in thousands\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 693.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 658.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 658.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 658.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 658.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 630.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 630.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 630.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 630.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 602.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 602.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 602.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 602.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 574.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 574.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 574.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 574.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 546.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 546.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 546.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 546.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 518.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 518.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 518.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 518.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 490.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 490.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 490.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 490.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 462.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 462.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 462.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 462.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 434.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 434.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 434.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 434.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 406.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 406.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 406.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 406.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 378.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 378.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 378.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 378.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 350.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 350.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 350.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 350.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 322.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 322.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 322.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 322.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 294.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 294.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 294.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 294.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 266.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 266.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 266.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 266.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 238.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 238.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 238.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 238.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 210.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 210.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 210.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 210.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 182.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 182.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 182.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 182.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 154.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 154.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 154.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 154.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 126.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 126.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 126.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 126.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 98.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 98.85 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 98.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 98.85 64.00 -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 431 670.85 m 495 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 670.85 m 499 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 670.85 m 563 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 670.85 m 495 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 658.85 m 495 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 670.85 m 499 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 670.85 m 563 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 658.85 m 563 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 546.85 m 495 546.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 546.85 m 563 546.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 518.85 m 495 518.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 518.85 m 563 518.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 490.85 m 495 490.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 490.85 m 563 490.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 476.85 m 495 476.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 476.85 m 563 476.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 294.85 m 495 294.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 294.85 m 563 294.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 280.85 m 495 280.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 280.85 m 563 280.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 126.85000000000002 m 495 126.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 126.85000000000002 m 563 126.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 112.85000000000002 m 495 112.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 112.85000000000002 m 563 112.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 98.85000000000002 m 495 98.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 85.85000000000002 m 495 85.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 83.85000000000002 m 495 83.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 98.85000000000002 m 563 98.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 85.85000000000002 m 563 85.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 83.85000000000002 m 563 83.85000000000002 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 673.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.25 674.93 Td (December31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 661.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.50 662.93 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.50 662.93 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 649.42 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 491.50 647.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 647.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 635.42 Td (CAPITALIZATION) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 491.50 633.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 633.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 621.42 Td (Common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.50 621.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 621.42 Td (178,162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 621.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 621.42 Td (178,162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 607.42 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 607.42 Td (2,379,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 607.42 Td (2,379,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 593.42 Td (Retained earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 593.42 Td (1,968,718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 593.42 Td (1,804,398) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 579.42 Td (Accumulated other comprehensive \(loss\):) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 491.50 577.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 577.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 565.42 Td (Pension and other postretirement benefits \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.30 565.47 Td (\(37,948) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.15 565.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 565.47 Td (\(30,313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 565.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 551.42 Td (Derivative instruments \(Note 16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.30 551.47 Td (\(10,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.15 551.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 551.47 Td (\(23,059) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 551.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 537.42 Td (Total shareholder equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 537.42 Td (4,478,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 537.42 Td (4,308,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 523.42 Td (Noncontrolling interests \(Note 18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 523.42 Td (151,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 523.42 Td (145,990) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 509.42 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 509.42 Td (4,629,852) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 509.42 Td (4,454,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 495.42 Td (Long-term debt less current maturities \(Note 6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 495.42 Td (2,906,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 495.42 Td (2,671,465) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 481.42 Td (Total capitalization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 481.42 Td (7,536,067) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 481.42 Td (7,126,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 467.42 Td (CURRENT LIABILITIES) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 491.50 465.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 465.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 453.42 Td (Short-term borrowings \(Note 5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 453.42 Td (147,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 453.42 Td (153,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 439.42 Td (Current maturities of long-term debt \(Note 6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 439.42 Td (383,570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 439.42 Td (540,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 425.42 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 425.42 Td (289,930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 425.42 Td (281,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 411.42 Td (Accrued taxes \(Notes 4 and S-1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 411.42 Td (131,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 411.42 Td (122,460) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 397.42 Td (Accrued interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 397.42 Td (52,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 397.42 Td (48,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 383.42 Td (Common dividends payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 383.42 Td (65,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 383.42 Td (62,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 369.42 Td (Customer deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 369.42 Td (72,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 369.42 Td (76,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 355.42 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 355.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 355.42 Td (2,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 341.42 Td (Liabilities from risk management activities \(Note 16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 341.42 Td (59,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 341.42 Td (31,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 327.42 Td (Liabilities for asset retirements \(Note 11\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 327.42 Td (32,462) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 327.42 Td (32,896) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 313.42 Td (Regulatory liabilities \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 313.42 Td (130,549) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 313.42 Td (99,273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 299.42 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 299.42 Td (167,302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 299.42 Td (130,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 285.42 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 285.42 Td (1,532,464) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 285.42 Td (1,580,847) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 271.42 Td (DEFERRED CREDITS AND OTHER) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 491.50 269.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 269.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 257.42 Td (Deferred income taxes \(Notes 4 and S-1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 257.42 Td (2,571,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 257.42 Td (2,347,724) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 243.42 Td (Regulatory liabilities \(Notes 1, 3, 4, and S-1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 243.42 Td (1,051,196) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 243.42 Td (801,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 229.42 Td (Liability for asset retirements \(Note 11\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 229.42 Td (358,288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 229.42 Td (313,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 215.42 Td (Liabilities for pension and other postretirement benefits \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 215.42 Td (424,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 215.42 Td (476,017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 201.42 Td (Liabilities from risk management activities \(Note 16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 201.42 Td (50,602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 201.42 Td (70,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 187.42 Td (Customer advances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 187.42 Td (123,052) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 187.42 Td (114,480) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 173.42 Td (Coal mine reclamation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 173.42 Td (198,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 173.42 Td (207,453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 159.42 Td (Deferred investment tax credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 159.42 Td (178,607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 159.42 Td (152,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 145.42 Td (Unrecognized tax benefits \(Notes 4 and S-1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 145.42 Td (45,740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 145.42 Td (42,209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 131.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 131.42 Td (144,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 131.42 Td (148,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 117.42 Td (Total deferred credits and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 117.42 Td (5,146,473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 117.42 Td (4,674,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 103.42 Td (COMMITMENTS AND CONTINGENCIES \(SEE NOTES\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 491.50 101.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 101.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 89.42 Td (TOTAL LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.50 89.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.10 89.42 Td (14,215,004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 89.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.10 89.42 Td (13,381,377) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 71.55 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 59.55 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 139.30 59.55 Td (W) Tj ET Q q 0 0 0 rg BT 147.94 59.55 Td (est) Tj ET Q q 0 0 0 rg BT 161.82 59.55 Td (s Consolidated Financial Statements and Supplemental Notes to ) Tj ET Q q 0 0 0 rg BT 419.57 59.55 Td (APS) Tj ET Q q 0 0 0 rg BT 440.69 59.55 Td (s Consolidated Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 47.55 Td (Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 307 0 obj <>] /Rotate 0 /Contents 308 0 R>> endobj 308 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (150) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 734.75 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 734.75 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 734.75 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 734.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 171.05 720.95 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 239.85 720.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 279.58 720.95 Td (A) Tj ET Q q 0 0 0 rg BT 287.04 720.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 361.69 720.95 Td ( CASH FLOWS) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 252.60 707.15 Td 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300.65 m 504 300.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 300.65 m 562 300.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 289.65 m 439 289.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 289.65 m 504 289.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 289.65 m 562 289.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 223.64999999999998 m 439 223.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 223.64999999999998 m 504 223.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 223.64999999999998 m 562 223.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 212.64999999999998 m 439 212.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 212.64999999999998 m 504 212.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 212.64999999999998 m 562 212.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 190.64999999999998 m 439 190.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 190.64999999999998 m 504 190.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 190.64999999999998 m 562 190.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 190.64999999999998 m 439 190.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 180.64999999999998 m 439 180.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 178.64999999999998 m 439 178.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 190.64999999999998 m 504 190.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 180.64999999999998 m 504 180.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 178.64999999999998 m 504 178.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 190.64999999999998 m 562 190.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 180.64999999999998 m 562 180.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 178.64999999999998 m 562 178.64999999999998 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 420.65 688.10 Td (YearEndedDecember31,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 400.00 677.10 Td (2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 464.00 677.10 Td (2013) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 525.50 677.10 Td (2012) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 665.96 Td (CASH FLOWS FROM OPERATING ACTIVITIES) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 654.96 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 654.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.25 654.96 Td (447,320) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 654.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 654.96 Td (458,861) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.50 654.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 654.96 Td (427,110) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 643.96 Td (Adjustments to reconcile net income to net cash provided by operating activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 632.96 Td (Depreciation and amortization including nuclear fuel) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.25 632.96 Td (496,393) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 632.96 Td (492,226) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 632.96 Td (481,168) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 621.96 Td (Deferred fuel and purchased power) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.75 621.96 Td (\(26,927) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 621.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 621.96 Td (21,678) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 621.96 Td (71,573) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 610.96 Td (Deferred fuel and purchased power amortization) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.75 610.96 Td (40,757) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 610.96 Td (31,190) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.25 610.96 Td (\(116,716) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 610.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 599.96 Td (Allowance for equity funds used during construction) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.75 599.96 Td (\(30,790) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 599.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.75 599.96 Td (\(25,581) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 599.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.75 599.96 Td (\(22,436) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 599.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 588.96 Td (Deferred income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.25 588.96 Td (155,401) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 588.96 Td (278,101) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 588.96 Td (202,159) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 577.96 Td (Deferred investment tax credit) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.75 577.96 Td (26,246) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 577.96 Td (52,542) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 577.96 Td (41,579) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 566.96 Td (Change in derivative instruments fair value) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 566.96 Td (339) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.00 566.96 Td (534) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.00 566.96 Td (\(749) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 566.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 555.96 Td (Changes in current assets and liabilities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 544.96 Td (Customer and other receivables) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.75 544.96 Td (\(52,466) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 544.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.75 544.96 Td (\(46,552) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 544.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 544.96 Td (12,914) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 533.96 Td (Accrued unbilled revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.25 533.96 Td (\(3,737) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 533.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.25 533.96 Td (\(1,951) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 533.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 533.96 Td (30,394) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 522.96 Td (Materials, supplies and fossil fuel) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.25 522.96 Td (3,724) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.75 522.96 Td (\(11,878) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 522.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.75 522.96 Td (\(23,043) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 522.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 511.96 Td (Income tax receivable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.25 511.96 Td (135,179) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.25 511.96 Td (\(134,590) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 511.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.25 511.96 Td (\(2,280) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 511.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 500.96 Td (Other current assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.25 500.96 Td (3,766) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.75 500.96 Td (\(17,112) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 500.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.75 500.96 Td (\(27,745) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 500.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 489.96 Td (Accounts payable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.25 489.96 Td (\(2,355) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 489.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 489.96 Td (47,870) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.75 489.96 Td (\(97,395) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 489.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 478.96 Td (Accrued taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.25 478.96 Td (8,650) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.25 478.96 Td (5,760) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 478.96 Td (7,330) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 467.96 Td (Other current liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.75 467.96 Td (33,970) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.25 467.96 Td (\(9,005) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 467.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 467.96 Td (6,070) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 456.96 Td (Change in margin and collateral accounts assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 456.96 Td (\(343) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 456.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.00 456.96 Td (993) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 456.96 Td (2,216) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 445.96 Td (Change in margin and collateral accounts liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.75 445.96 Td (\(24,975) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 445.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 445.96 Td (12,355) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 445.96 Td (137,785) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 434.96 Td (Change in long-term regulatory liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.75 434.96 Td (59,618) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 434.96 Td (64,473) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 434.96 Td (13,539) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 423.96 Td (Change in long-term income tax receivable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.50 423.96 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 423.96 Td (137,665) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.25 423.96 Td (\(1,756) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 423.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 412.96 Td (Change in unrecognized tax benefits) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.25 412.96 Td (2,778) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.75 412.96 Td (\(91,244) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 412.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.25 412.96 Td (\(2,583) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 412.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 401.96 Td (Change in other long-term assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.75 401.96 Td (\(65,521) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 401.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.75 401.96 Td (\(46,043) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 401.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 401.96 Td (1,391) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 390.96 Td (Change in other long-term liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.75 390.96 Td (\(82,860) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 390.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.75 390.96 Td (\(25,601) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 390.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 390.96 Td (34,854) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 379.96 Td (Net cash flow provided by operating activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.50 379.96 Td (1,124,167) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.50 379.96 Td (1,194,691) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.50 379.96 Td (1,175,379) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 368.96 Td (CASH FLOWS FROM INVESTING ACTIVITIES) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 357.96 Td (Capital expenditures) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.25 357.96 Td (\(910,084) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 357.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 357.96 Td (\(1,016,322) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 357.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.25 357.96 Td (\(889,551) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 357.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 346.96 Td (Contributions in aid of construction) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.75 346.96 Td (20,325) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 346.96 Td (41,090) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 346.96 Td (49,876) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 335.96 Td (Allowance for borrowed funds used during construction) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.75 335.96 Td (\(15,457) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 335.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.75 335.96 Td (\(14,861) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 335.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.75 335.96 Td (\(14,971) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 335.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 324.96 Td (Proceeds from nuclear decommissioning trust sales) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.25 324.96 Td (356,195) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 324.96 Td (446,025) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 324.96 Td (417,603) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 313.96 Td (Investment in nuclear decommissioning trust) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.25 313.96 Td (\(373,444) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 313.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.25 313.96 Td (\(463,274) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 313.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.25 313.96 Td (\(434,852) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 313.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 302.96 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 302.96 Td (347) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.25 302.96 Td (\(2,067) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 302.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.25 302.96 Td (\(1,099) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 302.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 291.96 Td (Net cash flow used for investing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.25 291.96 Td (\(922,118) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 291.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 291.96 Td (\(1,009,409) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 291.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.25 291.96 Td (\(872,994) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 291.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 280.96 Td (CASH FLOWS FROM FINANCING ACTIVITIES) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 269.96 Td (Issuance of long-term debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.25 269.96 Td (606,126) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 269.96 Td (136,307) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 269.96 Td (351,081) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 258.96 Td (Repayment of long-term debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.25 258.96 Td (\(527,578) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 258.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.25 258.96 Td (\(122,828) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 258.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.25 258.96 Td (\(529,286) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 258.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 247.96 Td (Short-term borrowings and payments net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.25 247.96 Td (\(5,725) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 247.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 247.96 Td (60,950) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 247.96 Td (92,175) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 236.96 Td (Dividends paid on common stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.25 236.96 Td (\(253,600) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 236.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.25 236.96 Td (\(242,100) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 236.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.25 236.96 Td (\(222,200) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 236.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 225.96 Td (Noncontrolling interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.75 225.96 Td (\(20,482) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 225.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.75 225.96 Td (\(17,385) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 225.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.75 225.96 Td (\(10,529) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 225.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 214.96 Td (Net cash flow used for financing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.25 214.96 Td (\(201,259) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 214.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.25 214.96 Td (\(185,056) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 214.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.25 214.96 Td (\(318,759) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 214.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 203.96 Td (NET INCREASE \(DECREASE\) IN CASH AND CASH EQUIVALENTS) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 203.96 Td (790) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.00 203.96 Td (226) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.75 203.96 Td (\(16,374) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 203.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 192.96 Td (CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.25 192.96 Td (3,725) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.25 192.96 Td (3,499) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 192.96 Td (19,873) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 181.96 Td (CASH AND CASH EQUIVALENTS AT END OF YEAR) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 181.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.25 181.96 Td (4,515) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 181.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.25 181.96 Td (3,725) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.50 181.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 181.96 Td (3,499) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 170.96 Td (Supplemental disclosure of cash flow information:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 159.96 Td (Cash paid \(received\) during the year for:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 148.96 Td (Income taxes, net of refunds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 148.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.75 148.96 Td (\(86,054) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.50 148.96 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 148.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.25 148.96 Td (7,524) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.50 148.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 148.96 Td (1,196) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 137.96 Td (Interest, net of amounts capitalized) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 137.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.25 137.96 Td (173,436) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 137.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 137.96 Td (180,757) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.50 137.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 137.96 Td (196,038) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 126.96 Td (Significant non-cash investing and financing activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 115.96 Td (Accrued capital expenditures) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 115.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.75 115.96 Td (44,712) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 115.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 115.96 Td (33,184) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.50 115.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 115.96 Td (26,208) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 104.96 Td (Dividends declared but not paid) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 104.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.75 104.96 Td (65,800) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 104.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 104.96 Td (62,500) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.50 104.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 104.96 Td (59,800) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 93.96 Td (Liabilities assumed related to acquisition of SCEs Four Corners interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 93.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.50 93.96 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 93.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 93.96 Td (145,609) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.50 93.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.50 93.96 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 80.15 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 68.15 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 139.30 68.15 Td (W) Tj ET Q q 0 0 0 rg BT 147.94 68.15 Td (est) Tj ET Q q 0 0 0 rg BT 161.82 68.15 Td (s Consolidated Financial Statements and Supplemental Notes to ) Tj ET Q q 0 0 0 rg BT 419.57 68.15 Td (APS) Tj ET Q q 0 0 0 rg BT 440.69 68.15 Td (s Consolidated Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 56.15 Td (Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 309 0 obj <>] /Rotate 0 /Contents 310 0 R>> endobj 310 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (151) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 734.75 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 734.75 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 734.75 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 734.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 149.05 720.95 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 217.85 720.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 257.58 720.95 Td (A) Tj ET Q q 0 0 0 rg BT 265.04 720.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 339.69 720.95 Td ( CHANGES IN EQUITY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 252.60 707.15 Td (\(dollars in thousands\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 641.65 124.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.00 641.65 49.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 641.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 641.65 45.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 641.65 5.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 641.65 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 641.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.00 641.65 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 641.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 641.65 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 641.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 641.65 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 641.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 641.65 51.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 604.65 124.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.00 604.65 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 604.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 604.65 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 604.65 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 604.65 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 604.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.00 604.65 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 604.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 604.65 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 604.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 604.65 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 604.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 604.65 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 576.65 124.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.00 576.65 49.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 576.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 576.65 45.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 576.65 5.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 576.65 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 576.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.00 576.65 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 576.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 576.65 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 576.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 576.65 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 576.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 576.65 51.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 530.65 124.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.00 530.65 49.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 530.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 530.65 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 530.65 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 530.65 48.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 530.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.00 530.65 46.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 530.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 530.65 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 530.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 530.65 61.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 530.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 530.65 51.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 500.65 124.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.00 500.65 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 500.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 500.65 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 500.65 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 500.65 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 500.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.00 500.65 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 500.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 500.65 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 500.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 500.65 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 500.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 500.65 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 472.65 124.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.00 472.65 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 472.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 472.65 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 472.65 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 472.65 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 472.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.00 472.65 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 472.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 472.65 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 472.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 472.65 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 472.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 472.65 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 435.65 124.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.00 435.65 49.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 435.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 435.65 45.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 435.65 5.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 435.65 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 435.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.00 435.65 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 435.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 435.65 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 435.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 435.65 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 435.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 435.65 51.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 396.65 124.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.00 396.65 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 396.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 396.65 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 396.65 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 396.65 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 396.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.00 396.65 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 396.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 396.65 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 396.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 396.65 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 396.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 396.65 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 368.65 124.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.00 368.65 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 368.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 368.65 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 368.65 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 368.65 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 368.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.00 368.65 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 368.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 368.65 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 368.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 368.65 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 368.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 368.65 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 340.65 124.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.00 340.65 49.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 340.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 340.65 45.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 340.65 5.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 340.65 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 340.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.00 340.65 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 340.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 340.65 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 340.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 340.65 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 340.65 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 340.65 51.00 -23.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 655.65 m 223 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 655.65 m 227 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 655.65 m 272 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 655.65 m 325 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 655.65 m 375 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 655.65 m 443 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 655.65 m 508 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 655.65 m 563 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 655.65 m 223 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 641.65 m 223 641.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 655.65 m 272 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 641.65 m 272 641.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 641.65 m 325 641.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 641.65 m 375 641.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 641.65 m 443 641.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 641.65 m 508 641.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 641.65 m 563 641.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 553.65 m 223 553.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 530.65 m 223 530.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 553.65 m 227 553.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 530.65 m 227 530.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 553.65 m 272 553.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 530.65 m 272 530.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 553.65 m 277 553.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 530.65 m 277 530.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 553.65 m 325 553.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 530.65 m 325 530.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 553.65 m 329 553.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 530.65 m 329 530.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 553.65 m 375 553.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 530.65 m 375 530.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 553.65 m 379 553.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 530.65 m 379 530.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 553.65 m 443 553.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 530.65 m 443 530.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 553.65 m 447 553.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 530.65 m 447 530.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 553.65 m 508 553.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 530.65 m 508 530.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 553.65 m 512 553.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 530.65 m 512 530.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 553.65 m 563 553.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 530.65 m 563 530.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 435.65 m 223 435.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 412.65 m 223 412.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 435.65 m 227 435.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 412.65 m 227 412.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 435.65 m 272 435.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 412.65 m 272 412.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 435.65 m 277 435.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 412.65 m 277 412.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 435.65 m 325 435.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 412.65 m 325 412.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 435.65 m 329 435.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 412.65 m 329 412.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 435.65 m 375 435.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 412.65 m 375 412.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 435.65 m 379 435.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 412.65 m 379 412.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 435.65 m 443 435.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 412.65 m 443 412.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 435.65 m 447 435.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 412.65 m 447 412.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 435.65 m 508 435.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 412.65 m 508 412.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 435.65 m 512 435.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 412.65 m 512 412.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 435.65 m 563 435.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 412.65 m 563 412.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 317.65 m 223 317.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 304.65 m 223 304.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174 302.65 m 223 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 317.65 m 227 317.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 304.65 m 227 304.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 302.65 m 227 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 317.65 m 272 317.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 304.65 m 272 304.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 302.65 m 272 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 317.65 m 277 317.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 304.65 m 277 304.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 302.65 m 277 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 317.65 m 325 317.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 304.65 m 325 304.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 302.65 m 325 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 317.65 m 329 317.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 304.65 m 329 304.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 302.65 m 329 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 317.65 m 375 317.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 304.65 m 375 304.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 302.65 m 375 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 317.65 m 379 317.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 304.65 m 379 304.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 302.65 m 379 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 317.65 m 443 317.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 304.65 m 443 304.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 302.65 m 443 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 317.65 m 447 317.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 304.65 m 447 304.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 302.65 m 447 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 317.65 m 508 317.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 304.65 m 508 304.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 302.65 m 508 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 317.65 m 512 317.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 304.65 m 512 304.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 302.65 m 512 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 317.65 m 563 317.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 304.65 m 563 304.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 302.65 m 563 302.65 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 194.35 660.11 Td (Common Stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.25 678.11 Td (Additional) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.25 669.11 Td (Paid-In) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.50 660.11 Td (Capital) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 335.50 669.11 Td (Retained) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 335.50 660.11 Td (Earnings) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.50 687.11 Td (Accumulated) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.25 678.11 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.25 669.11 Td (Comprehensive) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.35 660.11 Td (Income \(Loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.50 669.11 Td (Noncontrolling) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.75 660.11 Td (Interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.80 660.11 Td (Total) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 186.00 646.11 Td (Shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.20 646.11 Td (Amount) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 623.11 Td (Balance, December 31, 2011) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 179.00 623.11 Td (71,264,947) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.50 623.11 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 239.25 623.11 Td (178,162) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 279.50 623.11 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.50 623.11 Td (2,379,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.50 623.11 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 335.50 623.11 Td (1,510,740) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 623.11 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.25 623.11 Td (\(125,591) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.50 623.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.50 623.11 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.25 623.11 Td (108,399) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.50 623.11 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.50 623.11 Td (4,051,406) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 609.11 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.25 609.11 Td (395,497) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.75 609.11 Td (31,613) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 609.11 Td (427,110) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 595.11 Td (Other comprehensive income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 595.11 Td (36,496) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 595.11 Td (36,496) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 581.11 Td (Dividends on common stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.25 581.11 Td (\(282,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 371.50 581.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 581.11 Td (\(282,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 581.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 567.11 Td (Net capital activities by) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 558.11 Td (noncontrolling interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 476.75 558.11 Td (\(10,529) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 558.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.75 558.11 Td (\(10,529) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 558.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 535.11 Td (Balance, December 31, 2012) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 179.00 535.11 Td (71,264,947) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 239.25 535.11 Td (178,162) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.50 535.11 Td (2,379,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 335.50 535.11 Td (1,624,237) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.75 535.11 Td (\(89,095) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.50 535.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.25 535.11 Td (129,483) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.50 535.11 Td (4,222,483) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 505.11 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.25 505.11 Td (424,969) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.75 505.11 Td (33,892) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 505.11 Td (458,861) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 491.11 Td (Other comprehensive income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 491.11 Td (35,723) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 491.11 Td (35,723) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 477.11 Td (Dividends on common stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.25 477.11 Td (\(244,800) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 371.50 477.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 477.11 Td (\(244,800) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 477.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 463.11 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 364.00 463.11 Td (\(8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 371.50 463.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 463.11 Td (\(8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 463.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 449.11 Td (Net capital activities by) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 440.11 Td (noncontrolling interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 476.75 440.11 Td (\(17,385) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 440.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.75 440.11 Td (\(17,385) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 440.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 417.11 Td (Balance, December 31, 2013) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 179.00 417.11 Td (71,264,947) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 239.25 417.11 Td (178,162) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.50 417.11 Td (2,379,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 335.50 417.11 Td (1,804,398) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.75 417.11 Td (\(53,372) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.50 417.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.25 417.11 Td (145,990) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.50 417.11 Td (4,454,874) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 387.11 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.25 387.11 Td (421,219) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.75 387.11 Td (26,101) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 387.11 Td (447,320) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 373.11 Td (Other comprehensive income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.25 373.11 Td (5,039) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 373.11 Td (5,039) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 359.11 Td (Dividends on common stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.25 359.11 Td (\(256,900) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 371.50 359.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 359.11 Td (\(256,900) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 359.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 345.11 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 367.00 345.11 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.00 345.11 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 331.11 Td (Net capital activities by) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 322.11 Td (noncontrolling interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 476.75 322.11 Td (\(20,482) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 322.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.75 322.11 Td (\(20,482) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 322.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 308.11 Td (Balance, December 31, 2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 179.00 308.11 Td (71,264,947) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.50 308.11 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 239.25 308.11 Td (178,162) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 279.50 308.11 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.50 308.11 Td (2,379,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.50 308.11 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 335.50 308.11 Td (1,968,718) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 308.11 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.75 308.11 Td (\(48,333) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.50 308.11 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.50 308.11 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.25 308.11 Td (151,609) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.50 308.11 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.50 308.11 Td (4,629,852) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 278.35 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 139.30 278.35 Td (W) Tj ET Q q 0 0 0 rg BT 147.94 278.35 Td (est) Tj ET Q q 0 0 0 rg BT 161.82 278.35 Td (s Consolidated Financial Statements and Supplemental Notes to ) Tj ET Q q 0 0 0 rg BT 419.57 278.35 Td (APS) Tj ET Q q 0 0 0 rg BT 440.69 278.35 Td (s Consolidated Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 266.35 Td (Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 311 0 obj <>] /Rotate 0 /Contents 312 0 R>> endobj 312 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (152) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 720.75 Td (Certain notes to ) Tj ET Q q 0 0 0 rg BT 160.56 720.75 Td (APS) Tj ET Q q 0 0 0 rg BT 184.85 720.75 Td (s consolidated financial statements are combined with the notes to Pinnacle ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 706.95 Td (est) Tj ET Q q 0 0 0 rg BT 75.40 706.95 Td (s consolidated financial statements. Listed below are the consolidated notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 482.71 706.95 Td (W) Tj ET Q q 0 0 0 rg BT 492.64 706.95 Td (est) Tj ET Q q 0 0 0 rg BT 508.61 706.95 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td (consolidated financial statements, the majority of which also relate to ) Tj ET Q q 0 0 0 rg BT 371.09 693.15 Td (APS) Tj ET Q q 0 0 0 rg BT 395.39 693.15 Td (s consolidated financial statements. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (In addition, listed below are the supplemental notes which are required disclosures for ) Tj ET Q q 0 0 0 rg BT 448.06 679.35 Td (APS and should be read ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (in conjunction with Pinnacle ) Tj ET Q q 0 0 0 rg BT 184.08 665.55 Td (W) Tj ET Q q 0 0 0 rg BT 194.01 665.55 Td (est) Tj ET Q q 0 0 0 rg BT 209.98 665.55 Td (s Consolidated Notes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 591.45 323.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 591.45 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 591.45 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 591.45 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 563.45 323.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 563.45 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 563.45 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 563.45 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 535.45 323.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 535.45 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 535.45 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 535.45 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 507.45 323.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 507.45 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 507.45 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 507.45 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 479.45 323.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 479.45 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 479.45 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 479.45 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 451.45 323.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 451.45 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 451.45 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 451.45 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 423.45 323.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 423.45 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 423.45 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 423.45 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 395.45 323.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 395.45 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 395.45 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 395.45 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 367.45 323.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 367.45 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 367.45 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 367.45 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 339.45 323.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 339.45 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 339.45 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 339.45 92.00 -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 373 591.45 m 466 591.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 591.45 m 562 591.45 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 594.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.55 611.68 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.00 603.68 Td (Note) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.95 595.68 Td (Refer) Tj ET Q q 0 0 0 rg BT 420.90 595.68 Td (ence) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 468.50 594.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 505.20 619.53 Td (APS) Tj ET Q q 0 0 0 rg BT 522.68 619.53 Td (s) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 491.90 611.53 Td (Supplemental) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.50 603.53 Td (Note) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.45 595.53 Td (Refer) Tj ET Q q 0 0 0 rg BT 517.40 595.53 Td (ence) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 582.02 Td (Summary of Significant Accounting Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.50 582.02 Td (Note 1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 580.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 582.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 568.02 Td (New Accounting Standards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.50 568.02 Td (Note 2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 566.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 568.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 554.02 Td (Regulatory Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.50 554.02 Td (Note 3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 552.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 554.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 540.02 Td (Income Taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.50 540.02 Td (Note 4) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 538.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.55 540.02 Td (Note S-1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 526.02 Td (Lines of Credit and Short-Term Borrowings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.50 526.02 Td (Note 5) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 524.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 526.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 512.02 Td (Long-Term Debt and Liquidity Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.50 512.02 Td (Note 6) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 510.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 512.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 498.02 Td (Retirement Plans and Other Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.50 498.02 Td (Note 7) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 496.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 498.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 484.02 Td (Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.50 484.02 Td (Note 8) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 482.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 484.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 470.02 Td (Jointly-Owned Facilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.50 470.02 Td (Note 9) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 468.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 470.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 456.02 Td (Commitments and Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 456.02 Td (Note 10) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 454.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 456.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 442.02 Td (Asset Retirement Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.20 442.02 Td (Note 11) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 440.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 442.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 428.02 Td (Selected Quarterly Financial Data \(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 428.02 Td (Note 12) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 426.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.55 428.02 Td (Note S-2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 414.02 Td (Fair Value Measurements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 414.02 Td (Note 13) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 412.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 414.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 400.02 Td (Earnings Per Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 400.02 Td (Note 14) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 398.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 400.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 386.02 Td (Stock-Based Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 386.02 Td (Note 15) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 384.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 386.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 372.02 Td (Derivative Accounting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 372.02 Td (Note 16) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 370.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 372.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 358.02 Td (Other Income and Other Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 358.02 Td (Note 17) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 356.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.55 358.02 Td (Note S-3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 344.02 Td (Palo Verde Sale Leaseback Variable Interest Entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 344.02 Td (Note 18) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 342.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 344.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 330.02 Td (Nuclear Decommissioning Trusts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 330.02 Td (Note 19) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 328.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 330.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 316.02 Td (Changes in Accumulated Other Comprehensive Loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 316.02 Td (Note 20) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 468.50 314.21 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.55 316.02 Td (Note S-4) Tj ET Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 313 0 obj <>] /Rotate 0 /Contents 314 0 R>> endobj 314 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (153) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (S-1.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 68.35 707.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 87.85 707.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 90.73 707.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 129.80 707.25 Td (T) Tj ET Q q 0 0 0 rg BT 136.42 707.25 Td (axes) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.65 Td (APS is included in Pinnacle ) Tj ET Q q 0 0 0 rg BT 216.58 679.65 Td (W) Tj ET Q q 0 0 0 rg BT 226.51 679.65 Td (est) Tj ET Q q 0 0 0 rg BT 242.48 679.65 Td (s consolidated tax return. However) Tj ET Q q 0 0 0 rg BT 405.53 679.65 Td (, when Pinnacle ) Tj ET Q q 0 0 0 rg BT 481.33 679.65 Td (W) Tj ET Q q 0 0 0 rg BT 491.27 679.65 Td (est allocates ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (income taxes to ) Tj ET Q q 0 0 0 rg BT 123.92 665.85 Td (APS, it is done based upon ) Tj ET Q q 0 0 0 rg BT 250.10 665.85 Td (APS) Tj ET Q q 0 0 0 rg BT 274.40 665.85 Td (s taxable income computed on a stand-alone basis, in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (accordance with the tax sharing agreement.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 638.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.45 Td (Certain assets and liabilities are reported dif) Tj ET Q q 0 0 0 rg BT 287.76 624.45 Td (ferently for income tax purposes than they are for financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td (statements purposes. ) Tj ET Q q 0 0 0 rg BT 150.22 610.65 Td (The tax ef) Tj ET Q q 0 0 0 rg BT 196.63 610.65 Td (fect of these dif) Tj ET Q q 0 0 0 rg BT 268.27 610.65 Td (ferences is recorded as deferred taxes. ) Tj ET Q q 0 0 0 rg BT 448.77 610.65 Td (W) Tj ET Q q 0 0 0 rg BT 458.70 610.65 Td (e calculate deferred ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.85 Td (taxes using currently enacted tax rates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 583.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 569.25 Td (APS has recorded regulatory assets and regulatory liabilities related to income taxes on its Balance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.45 Td (Sheets in accordance with accounting guidance for regulated operations. ) Tj ET Q q 0 0 0 rg BT 388.10 555.45 Td (The regulatory assets are for certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (temporary dif) Tj ET Q q 0 0 0 rg BT 112.20 541.65 Td (ferences, primarily the allowance for equity funds used during construction and pension and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.85 Td (postretirement benefits. ) Tj ET Q q 0 0 0 rg BT 163.62 527.85 Td (The regulatory liabilities primarily relate to deferred taxes resulting from investment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.05 Td (tax credits \("ITCs"\) and the change in income tax rates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 500.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 486.45 Td (In accordance with regulatory requirements, ) Tj ET Q q 0 0 0 rg BT 291.14 486.45 Td (APS ITCs are deferred and are amortized over the life of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.65 Td (the related property) Tj ET Q q 0 0 0 rg BT 138.80 472.65 Td (, with such amortization applied as a credit to reduce current income tax expense in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (statement of income.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 445.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 431.25 Td (During the year ended December 31, 2013, IRS guidance was released which provided clarification ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.45 Td (regarding an ) Tj ET Q q 0 0 0 rg BT 109.53 417.45 Td (APS tax accounting method change approved by the IRS in the third quarter of 2009. ) Tj ET Q q 0 0 0 rg BT 506.53 417.45 Td (As a result ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.65 Td (of this guidance, uncertain tax positions decreased ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 283.90 403.65 Td ($67 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 337.25 403.65 Td (. ) Tj ET Q q 0 0 0 rg BT 345.25 403.65 Td (Additionally) Tj ET Q q 0 0 0 rg BT 402.63 403.65 Td (, the IRS finalized the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.85 Td (examination of tax returns for the years ended December31, 2008 and 2009, which further ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 470.71 389.85 Td (reduced uncertain ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 376.65 Td (tax positions by approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 188.20 376.65 Td ($41 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 239.23 376.65 Td (. ) Tj ET Q q 0 0 0 rg BT 247.29 376.65 Td (These reductions in uncertain tax positions were materially of) Tj ET Q q 0 0 0 rg BT 518.94 376.65 Td (fset by an ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 362.85 Td (increase in deferred tax liabilities. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 204.35 362.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 335.25 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 106.25 335.25 Td ($135 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 165.36 335.25 Td ( current income tax receivable on ) Tj ET Q q 0 0 0 rg BT 321.18 335.25 Td (APS) Tj ET Q q 0 0 0 rg BT 345.47 335.25 Td (s Consolidated Balance Sheets as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.45 Td (December31, 2013 represented an anticipated IRS refund related to the finalized examinations of tax years ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.65 Td (ended December 31, 2008 and 2009. Cash related to this refund was received in the first quarter of 2014.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 280.05 Td (On September13, 2013, the U.S. ) Tj ET Q q 0 0 0 rg BT 240.53 280.05 Td (T) Tj ET Q q 0 0 0 rg BT 247.15 280.05 Td (reasury Department released final income tax regulations on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 266.25 Td (deduction and capitalization of expenditures related to tangible property) Tj ET Q q 0 0 0 rg BT 380.22 266.25 Td (. ) Tj ET Q q 0 0 0 rg BT 388.64 266.25 Td (These final regulations apply to tax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 252.45 Td (years beginning on or after January1, 2014. Several of the provisions within the regulations require a tax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.65 Td (accounting method change to be filed with the IRS prior to September 15, 2015 resulting in a tax-ef) Tj ET Q q 0 0 0 rg BT 507.91 238.65 Td (fected ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.85 Td (cumulative ef) Tj ET Q q 0 0 0 rg BT 112.20 224.85 Td (fect adjustment of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 267.40 224.85 Td ($82 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 320.75 224.85 Td (. ) Tj ET Q q 0 0 0 rg BT 329.17 224.85 Td (The anticipated impact of these final regulations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 211.05 Td (has been accounted for in ) Tj ET Q q 0 0 0 rg BT 169.25 211.05 Td (APS's Consolidated Balance Sheets as of December 31, 2013 and 2014. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 183.45 Td (Net income associated with the Palo ) Tj ET Q q 0 0 0 rg BT 255.20 183.45 Td (V) Tj ET Q q 0 0 0 rg BT 262.23 183.45 Td (erde sale leaseback ) Tj ET Q q 0 0 0 rg BT 353.01 183.45 Td (VIEs is not subject to tax \(see Note 18\). ) Tj ET Q q 0 0 0 rg BT 541.77 183.45 Td (As ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.65 Td (a result, there is no income tax expense associated with the ) Tj ET Q q 0 0 0 rg BT 323.30 169.65 Td (VIEs recorded on ) Tj ET Q q 0 0 0 rg BT 406.64 169.65 Td (APS) Tj ET Q q 0 0 0 rg BT 430.94 169.65 Td (s Consolidated Statements ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.85 Td (of Income.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 142.05 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 110.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 760.30 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 760.30 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 760.30 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 760.30 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.50 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.50 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.50 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.50 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.50 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.50 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.50 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 732.70 Td () Tj ET Q endstream endobj 315 0 obj <>] /Rotate 0 /Contents 316 0 R>> endobj 316 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (154) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (The following is a tabular reconciliation of the total amounts of unrecognized tax benefits, excluding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (interest and penalties, at the beginning and end of the year that are included in accrued taxes and unrecognized ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (tax benefits \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.65 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 657.15 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 657.15 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 657.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 657.15 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 657.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 657.15 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 629.15 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 629.15 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 629.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 629.15 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 629.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 629.15 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 601.15 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 601.15 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 601.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 601.15 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 601.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 601.15 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 573.15 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 573.15 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 573.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 573.15 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 573.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 573.15 68.00 -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 351 657.15 m 419 657.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 657.15 m 491 657.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 657.15 m 563 657.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 559.15 m 419 559.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 559.15 m 491 559.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 559.15 m 563 559.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 559.15 m 419 559.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 546.15 m 419 546.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 544.15 m 419 544.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 559.15 m 491 559.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 546.15 m 491 546.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 544.15 m 491 544.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 559.15 m 563 559.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 546.15 m 563 546.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 544.15 m 563 544.15 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 659.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.50 661.23 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.50 661.23 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 661.23 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 647.72 Td (Total unrecognized tax benefits, January1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 647.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 647.72 Td (41,997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.50 647.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 647.72 Td (133,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.50 647.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 647.72 Td (135,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 633.72 Td (Additions for tax positions of the current year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 633.72 Td (4,309) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 633.72 Td (3,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 633.72 Td (5,167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 619.72 Td (Additions for tax positions of prior years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 619.72 Td (751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 619.72 Td (13,158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 619.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 605.72 Td (Reductions for tax positions of prior years for:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 415.50 603.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 487.50 603.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 603.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 591.72 Td (Changes in judgment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 591.77 Td (\(2,282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 591.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 591.77 Td (\(107,918) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 591.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 591.77 Td (\(7,729) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 591.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 577.72 Td (Settlements with taxing authorities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 577.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 577.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 577.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 563.72 Td (Lapses of applicable statute of limitations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 563.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 563.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.80 563.77 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 563.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 549.72 Td (Total unrecognized tax benefits, December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 549.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 549.72 Td (44,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.50 549.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 549.72 Td (41,997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.50 549.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 549.72 Td (133,241) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 531.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 518.05 Td (Included in the balance of unrecognized tax benefits at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 339.99 518.05 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.37 518.05 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 436.12 518.05 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.12 518.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 481.47 518.05 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 504.47 518.05 Td ( were ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 504.25 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 504.25 Td ($1) Tj ET Q q 0 0 0 rg BT 129.87 504.25 Td (1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 171.72 504.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.47 504.25 Td ($10 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 230.83 504.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 253.18 504.25 Td ($10 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.53 504.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 367.09 504.25 Td (, of tax positions that, if recognized, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 490.45 Td (would decrease our ef) Tj ET Q q 0 0 0 rg BT 150.51 490.45 Td (fective tax rate.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 476.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 462.85 Td (As of the balance sheet date, the tax year ended December31, 201) Tj ET Q q 0 0 0 rg BT 390.98 462.85 Td (1 and all subsequent tax years ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.05 Td (remain subject to examination by the IRS. ) Tj ET Q q 0 0 0 rg BT 248.91 449.05 Td (W) Tj ET Q q 0 0 0 rg BT 259.30 449.05 Td (ith a few exceptions, we are no longer subject to state income tax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 435.25 Td (examinations by tax authorities for years before 2008.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 421.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 407.65 Td (In January2014, we prospectively adopted guidance requiring unrecognized tax benefits to be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 393.85 Td (presented as a reduction to any available deferred income tax asset for a net operating loss, a similar tax loss, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.05 Td (or a tax credit carryforward. ) Tj ET Q q 0 0 0 rg BT 184.35 380.05 Td (The adoption of this guidance did not have any impact on ) Tj ET Q q 0 0 0 rg BT 451.67 380.05 Td (APS's Consolidated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 366.25 Td (Balance Sheets as of December 31, 2014. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 338.65 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 338.65 Td (e reflect interest and penalties, if any) Tj ET Q q 0 0 0 rg BT 264.24 338.65 Td (, on unrecognized tax benefits in the Statements of Income as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 324.85 Td (income tax expense. ) Tj ET Q q 0 0 0 rg BT 148.61 324.85 Td (The amount of interest recognized in the Statements of Income related to unrecognized ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.05 Td (tax benefits was a pre-tax expense of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 222.25 311.05 Td ($1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 269.85 311.05 Td ( for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 289.01 311.05 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.01 311.05 Td (, a pre-tax benefit of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.44 311.05 Td ($4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 456.04 311.05 Td ( for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 475.20 311.05 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 498.20 311.05 Td ( and a pre-tax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 297.25 Td (expense of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 101.87 297.25 Td ($4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 149.47 297.25 Td ( for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 168.63 297.25 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 191.63 297.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 283.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 269.65 Td (The total amount of accrued liabilities for interest recognized in the Consolidated Balance Sheets ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 255.85 Td (related to unrecognized tax benefits was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 237.26 255.85 Td ($1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 284.86 255.85 Td ( as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.65 255.85 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 403.02 255.85 Td (, less than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 451.57 255.85 Td ($1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.17 255.85 Td ( as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.05 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.87 242.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 162.23 242.05 Td ($13 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.58 242.05 Td ( as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 243.36 242.05 Td (December31, 2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.74 242.05 Td (. ) Tj ET Q q 0 0 0 rg BT 342.15 242.05 Td (T) Tj ET Q q 0 0 0 rg BT 348.38 242.05 Td (o the extent that matters are settled favorably) Tj ET Q q 0 0 0 rg BT 554.87 242.05 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 228.25 Td (this amount could be reversed and decrease our ef) Tj ET Q q 0 0 0 rg BT 279.20 228.25 Td (fective tax rate. ) Tj ET Q q 0 0 0 rg BT 355.51 228.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 412.90 228.25 Td (, as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.56 228.25 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 533.93 228.25 Td (, we ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 214.45 Td (have recognized less than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 170.20 214.45 Td ($1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 217.80 214.45 Td ( of interest expense to be paid on the underpayment of income taxes for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 200.65 Td (certain adjustments that we have filed, or will file, with the IRS.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 186.85 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 110.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 760.30 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 760.30 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 760.30 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 760.30 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.50 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.50 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.50 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.50 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.50 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.50 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.50 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 732.70 Td () Tj ET Q endstream endobj 317 0 obj <>] /Rotate 0 /Contents 318 0 R>> endobj 318 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (155) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (The components of ) Tj ET Q q 0 0 0 rg BT 176.52 721.05 Td (APS) Tj ET Q q 0 0 0 rg BT 200.82 721.05 Td (s income tax expense are as follows \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 686.55 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 686.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 686.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 686.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 686.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 686.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 658.55 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 658.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 658.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 658.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 658.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 658.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 630.55 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 630.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 630.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 630.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 630.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 630.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 602.55 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 602.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 602.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 602.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 602.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 602.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 574.55 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 574.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 574.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 574.55 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 574.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 574.55 68.00 -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 351 698.55 m 419 698.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 698.55 m 423 698.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 698.55 m 491 698.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 698.55 m 495 698.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 698.55 m 563 698.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 698.55 m 419 698.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 686.55 m 419 686.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 698.55 m 423 698.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 698.55 m 491 698.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 686.55 m 491 686.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 698.55 m 495 698.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 698.55 m 563 698.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 686.55 m 563 686.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 644.55 m 419 644.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 644.55 m 491 644.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 644.55 m 563 644.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 630.55 m 419 630.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 630.55 m 491 630.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 630.55 m 563 630.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 588.55 m 419 588.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 588.55 m 491 588.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 588.55 m 563 588.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 574.55 m 419 574.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 574.55 m 491 574.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 574.55 m 563 574.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 574.55 m 419 574.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 561.55 m 419 561.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 559.55 m 419 559.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 574.55 m 491 574.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 561.55 m 491 561.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 559.55 m 491 559.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 574.55 m 563 574.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 561.55 m 563 561.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 559.55 m 563 559.55 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 701.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.20 702.63 Td (YearEndedDecember31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 689.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.50 690.63 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.50 690.63 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 690.63 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 677.12 Td (Current:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 415.50 675.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 487.50 675.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 675.31 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 663.12 Td (Federal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 663.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 663.12 Td (40,115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.50 663.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.30 663.17 Td (\(97,531) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 663.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.50 663.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 663.17 Td (\(11,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 663.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 649.12 Td (State) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 649.12 Td (15,598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 649.12 Td (11,983) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 649.12 Td (12,308) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 635.12 Td (Total current) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 635.12 Td (55,713) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.30 635.17 Td (\(85,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 635.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 635.12 Td (658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 621.12 Td (Deferred:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 415.50 619.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 487.50 619.31 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 619.31 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 607.12 Td (Federal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 607.12 Td (165,027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 607.12 Td (305,389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 607.12 Td (216,367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 593.12 Td (State) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 593.12 Td (16,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 593.12 Td (25,254) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 593.12 Td (27,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 579.12 Td (Total deferred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 579.12 Td (181,647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 579.12 Td (330,643) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 579.12 Td (243,738) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 565.12 Td (Total income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 565.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 565.12 Td (237,360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.50 565.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 565.12 Td (245,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.50 565.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 565.12 Td (244,396) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 533.45 Td (On the ) Tj ET Q q 0 0 0 rg BT 118.72 533.45 Td (APS Statements of Income, federal and state income taxes are allocated between operating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 519.65 Td (income and other income.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 492.05 Td (The following chart compares ) Tj ET Q q 0 0 0 rg BT 226.01 492.05 Td (APS) Tj ET Q q 0 0 0 rg BT 250.31 492.05 Td (s pretax income at the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 354.09 492.05 Td (35%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 375.17 492.05 Td ( federal income tax rate to income tax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.25 Td (expense \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 443.75 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 443.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 443.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 443.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 443.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 443.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 415.75 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 415.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 415.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 415.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 415.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 415.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 377.75 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 377.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 377.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 377.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 377.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 377.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 349.75 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 349.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 349.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 349.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 349.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 349.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 321.75 301.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 321.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 321.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 321.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 321.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 321.75 68.00 -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 351 455.75 m 419 455.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 455.75 m 423 455.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 455.75 m 491 455.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 455.75 m 495 455.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 455.75 m 563 455.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 455.75 m 419 455.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 443.75 m 419 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 455.75 m 423 455.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 455.75 m 491 455.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 443.75 m 491 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 455.75 m 495 455.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 455.75 m 563 455.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 443.75 m 563 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 307.75 m 419 307.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 307.75 m 491 307.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 307.75 m 563 307.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 307.75 m 419 307.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 294.75 m 419 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 292.75 m 419 292.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 307.75 m 491 307.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 294.75 m 491 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 292.75 m 491 292.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 307.75 m 563 307.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 294.75 m 563 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 292.75 m 563 292.75 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 458.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.20 459.83 Td (YearEndedDecember31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 446.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.50 447.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.50 447.83 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 447.83 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 434.32 Td (Federal income tax expense at 35% statutory rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 434.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 434.32 Td (239,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.50 434.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 434.32 Td (246,384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.50 434.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 434.32 Td (235,027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 420.32 Td (Increases \(reductions\) in tax expense resulting from:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 415.50 418.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 487.50 418.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 418.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 406.32 Td (State income tax net of federal income tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 406.32 Td (21,148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 406.32 Td (23,970) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 406.32 Td (25,379) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 392.32 Td (Credits and favorable adjustments related to prior years resolved in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 382.32 Td (current year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 382.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.30 382.47 Td (\(3,231) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 382.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 382.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 368.32 Td (Medicare Subsidy Part-D) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 368.32 Td (830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 368.32 Td (823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 368.32 Td (483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 354.32 Td (Allowance for equity funds used during construction \(see Note 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 354.37 Td (\(8,523) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 354.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.30 354.37 Td (\(6,997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 354.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 354.37 Td (\(6,158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 354.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 340.32 Td (Palo Verde VIE noncontrolling interest \(see Note 18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 340.37 Td (\(9,135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 340.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.30 340.37 Td (\(11,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 340.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 340.37 Td (\(11,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 340.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 326.32 Td (Investment tax credit amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 326.37 Td (\(4,928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 326.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.30 326.37 Td (\(3,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 326.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 326.37 Td (\(2,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 326.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 312.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 312.37 Td (\(1,670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 312.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 312.37 Td (\(444) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 312.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 312.32 Td (2,760) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 298.32 Td (Income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 298.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 298.32 Td (237,360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.50 298.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 298.32 Td (245,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.50 298.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 298.32 Td (244,396) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 280.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 266.65 Td (The following table shows the net deferred income tax liability recognized on the ) Tj ET Q q 0 0 0 rg BT 462.02 266.65 Td (APS Balance Sheets ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 252.85 Td (\(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 218.35 373.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 218.35 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 218.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 218.35 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 190.35 373.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 190.35 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 190.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 190.35 68.00 -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 423 230.35000000000002 m 491 230.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 230.35000000000002 m 495 230.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 230.35000000000002 m 563 230.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 230.35000000000002 m 491 230.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 218.35000000000002 m 491 218.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 230.35000000000002 m 495 230.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 230.35000000000002 m 563 230.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 218.35000000000002 m 563 218.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 218.35000000000002 m 491 218.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 218.35000000000002 m 563 218.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 190.35000000000002 m 491 190.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 190.35000000000002 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 423 190.35000000000002 m 491 190.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 177.35000000000002 m 491 177.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 175.35000000000002 m 491 175.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 190.35000000000002 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 495 177.35000000000002 m 563 177.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 175.35000000000002 m 563 175.35000000000002 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 233.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.25 234.43 Td (December31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 221.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.50 222.43 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 222.43 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 208.92 Td (Current asset \(liability\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.50 208.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 208.92 Td (55,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.50 208.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 208.97 Td (\(2,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 208.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 194.92 Td (Long-term liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.80 194.97 Td (\(2,571,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 194.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.80 194.97 Td (\(2,347,724) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 194.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 180.92 Td (Deferred income taxes net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.50 180.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.80 180.97 Td (\(2,516,112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 180.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.50 180.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.80 180.97 Td (\(2,349,757) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 180.92 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 163.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 149.25 Td (On February17, 201) Tj ET Q q 0 0 0 rg BT 180.89 149.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 191.76 149.25 Td (Arizona enacted legislation \(H.B. 2001\) that included a four) Tj ET Q q 0 0 0 rg BT 468.08 149.25 Td (-year phase-in of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 135.45 Td (corporate income tax rate reductions beginning in 2014. ) Tj ET Q q 0 0 0 rg BT 312.01 135.45 Td (As a result of these tax rate reductions, Pinnacle ) Tj ET Q q 0 0 0 rg BT 535.99 135.45 Td (W) Tj ET Q q 0 0 0 rg BT 545.92 135.45 Td (est ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 121.65 Td (has revised the tax rate applicable to reversing temporary items in ) Tj ET Q q 0 0 0 rg BT 354.47 121.65 Td (Arizona. In accordance with accounting for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 107.85 Td (regulated companies, the benefit of this rate reduction is substantially of) Tj ET Q q 0 0 0 rg BT 381.11 107.85 Td (fset by a regulatory liability) Tj ET Q q 0 0 0 rg BT 508.10 107.85 Td (. ) Tj ET Q q 0 0 0 rg BT 516.09 107.85 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 94.05 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.87 94.05 Td (, ) Tj ET Q q 0 0 0 rg BT 144.99 94.05 Td (APS has recorded a regulatory liability of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 339.48 94.05 Td ($74 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 392.83 94.05 Td (, with a corresponding decrease in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 80.25 Td (accumulated deferred income tax liabilities, to reflect the impact of this change in tax law) Tj ET Q q 0 0 0 rg BT 461.00 80.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 66.45 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 110.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 760.30 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 760.30 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 760.30 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 760.30 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.50 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.50 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.50 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.50 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.50 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.50 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.50 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 732.70 Td () Tj ET Q endstream endobj 319 0 obj <>] /Rotate 0 /Contents 320 0 R>> endobj 320 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (156) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 721.05 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 721.05 Td (April4, 2013, New Mexico enacted legislation \(H.B. 641\) that included a five-year phase-in of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.25 Td (corporate income tax rate reductions beginning in 2014. ) Tj ET Q q 0 0 0 rg BT 312.01 707.25 Td (As a result of these tax rate reductions, Pinnacle ) Tj ET Q q 0 0 0 rg BT 535.99 707.25 Td (W) Tj ET Q q 0 0 0 rg BT 545.92 707.25 Td (est ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.45 Td (has revised the tax rate applicable to reversing temporary items in New Mexico. In accordance with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.65 Td (accounting for regulated companies, the benefit of this rate reduction is substantially of) Tj ET Q q 0 0 0 rg BT 450.72 679.65 Td (fset by a regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.85 Td (liability) Tj ET Q q 0 0 0 rg BT 84.53 665.85 Td (. ) Tj ET Q q 0 0 0 rg BT 92.52 665.85 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 120.63 665.85 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 211.00 665.85 Td (, ) Tj ET Q q 0 0 0 rg BT 216.12 665.85 Td (APS has recorded a regulatory liability of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.61 665.85 Td ($2 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 458.22 665.85 Td (, with a corresponding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.05 Td (decrease in accumulated deferred income tax liabilities, to reflect the impact of this change in tax law) Tj ET Q q 0 0 0 rg BT 515.28 652.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 638.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.45 Td (The components of the net deferred income tax liability were as follows \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.65 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 576.15 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 576.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 576.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 576.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 548.15 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 548.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 548.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 548.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 520.15 363.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 520.15 73.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 520.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 520.15 73.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 494.15 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 494.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 494.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 494.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 466.15 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 466.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 466.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 466.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 438.15 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 438.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 438.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 438.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 410.15 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 410.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 410.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 410.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 382.15 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 382.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 382.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 382.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 354.15 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 354.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 354.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 354.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 326.15 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 326.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 326.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 326.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 298.15 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 298.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 298.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 298.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 270.15 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 270.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 270.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 270.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 242.15 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 242.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 242.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 242.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 214.15 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 214.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 214.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 214.15 73.00 -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 413 588.15 m 486 588.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 588.15 m 490 588.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 588.15 m 563 588.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 588.15 m 486 588.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 576.15 m 486 576.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 588.15 m 490 588.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 588.15 m 563 588.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 576.15 m 563 576.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 410.15 m 486 410.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 410.15 m 563 410.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 396.15 m 486 396.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 396.15 m 563 396.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 228.14999999999998 m 486 228.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 228.14999999999998 m 563 228.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 214.14999999999998 m 486 214.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 214.14999999999998 m 563 214.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 214.14999999999998 m 486 214.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 201.14999999999998 m 486 201.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 199.14999999999998 m 486 199.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 214.14999999999998 m 563 214.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 201.14999999999998 m 563 201.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 199.14999999999998 m 563 199.14999999999998 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 590.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.25 592.23 Td (December31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 578.87 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.00 580.23 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 518.00 580.23 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 566.72 Td (DEFERRED TAX ASSETS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 482.50 564.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 564.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 552.72 Td (Regulatory liabilities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 482.50 550.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 550.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 538.72 Td (Asset retirement obligation and removal costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.50 538.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 538.72 Td (229,772) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.50 538.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 538.72 Td (235,959) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 524.72 Td (Unamortized investment tax credits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 524.72 Td (96,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 524.72 Td (82,116) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 510.72 Td (Other postretirement benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 510.72 Td (90,496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 510.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 497.72 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 497.72 Td (60,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 497.72 Td (42,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 484.72 Td (Risk management activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 484.72 Td (57,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 484.72 Td (44,920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 470.72 Td (Pension liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 470.72 Td (194,541) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 470.72 Td (132,263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 456.72 Td (Other postretirement liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 456.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 456.72 Td (53,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 442.72 Td (Renewable energy incentives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 442.72 Td (65,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 442.72 Td (65,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 428.72 Td (Credit and loss carryforwards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 428.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 428.72 Td (38,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 414.72 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 414.72 Td (161,379) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 414.72 Td (166,781) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 400.72 Td (Total deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 400.72 Td (955,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 400.72 Td (862,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 386.72 Td (DEFERRED TAX LIABILITIES) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 482.50 384.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 384.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 372.72 Td (Plant-related) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.80 372.77 Td (\(2,958,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 372.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.80 372.77 Td (\(2,903,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 372.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 358.72 Td (Risk management activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 358.77 Td (\(12,171) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 358.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 358.77 Td (\(16,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 358.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 344.72 Td (Other postretirement benefit assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 344.77 Td (\(58,495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 344.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 344.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 330.72 Td (Regulatory assets:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 482.50 328.91 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 559.50 328.91 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 316.72 Td (Allowance for equity funds used during construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 316.77 Td (\(48,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 316.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 316.77 Td (\(43,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 316.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 302.72 Td (Deferred fuel and purchased power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.30 302.77 Td (\(2,498) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 302.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 302.77 Td (\(8,282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 302.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 288.72 Td (Deferred fuel and purchased power mark-to-market) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 288.77 Td (\(38,187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 288.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 288.77 Td (\(13,343) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 288.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 274.72 Td (Pension and other postretirement benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 274.77 Td (\(191,747) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 274.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 274.77 Td (\(129,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 274.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 260.72 Td (Retired power plant costs \(see Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 260.77 Td (\(57,255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 260.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 260.77 Td (\(8,199) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 260.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 246.72 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 246.77 Td (\(99,123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 246.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 246.77 Td (\(85,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 246.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 232.72 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.30 232.77 Td (\(5,484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 232.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 232.77 Td (\(4,916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 232.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 218.72 Td (Total deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.80 218.77 Td (\(3,471,615) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 218.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.80 218.77 Td (\(3,211,972) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 218.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 204.72 Td (Deferred income taxes net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.50 204.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.80 204.77 Td (\(2,516,112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 204.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.50 204.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.80 204.77 Td (\(2,349,757) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 204.72 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 186.85 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 110.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 760.30 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 760.30 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 760.30 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 760.30 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.50 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.50 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.50 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.50 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.50 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.50 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.50 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 732.70 Td () Tj ET Q endstream endobj 321 0 obj <>] /Rotate 0 /Contents 322 0 R>> endobj 322 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (157) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 721.25 Td (S-2.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 68.35 721.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 87.85 721.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 90.73 721.25 Td (Selected Quarterly Financial Data \(Unaudited\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.65 Td (Quarterly financial information for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 249.00 693.65 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 272.00 693.65 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.35 693.65 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 317.35 693.65 Td ( is as follows \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.85 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 637.35 222.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 637.35 55.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 637.35 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 637.35 55.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 637.35 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 637.35 55.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 637.35 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 637.35 55.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 637.35 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 637.35 55.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 599.35 222.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 599.35 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 599.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 599.35 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 599.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 599.35 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 599.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 599.35 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 599.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 599.35 55.00 -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 272 657.35 m 327 657.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 657.35 m 331 657.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 657.35 m 386 657.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 657.35 m 390 657.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 657.35 m 445 657.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 657.35 m 449 657.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 657.35 m 504 657.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 657.35 m 563 657.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 637.35 m 327 637.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 657.35 m 386 657.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 637.35 m 386 637.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 657.35 m 445 657.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 637.35 m 445 637.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 657.35 m 504 657.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 637.35 m 504 637.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 637.35 m 563 637.35 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 660.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.45 661.43 Td (2014 Quarter Ended,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.00 661.43 Td (2014) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 640.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 281.50 641.58 Td (March31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.75 641.58 Td (June30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.60 641.58 Td (September30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.75 641.58 Td (December31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.25 641.58 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 618.02 Td (Operating revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.50 618.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.65 618.02 Td (685,545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.50 618.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 618.02 Td (905,578) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.50 618.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.10 618.02 Td (1,172,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 618.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 618.02 Td (725,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 618.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 618.02 Td (3,488,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 603.92 Td (Operations and maintenance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.65 603.92 Td (208,285) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 603.92 Td (208,059) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 603.92 Td (212,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 603.92 Td (253,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 603.92 Td (882,442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 589.92 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 589.92 Td (69,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 589.92 Td (180,394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 589.92 Td (287,928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 589.92 Td (54,835) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 589.92 Td (592,792) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 575.92 Td (Net income attributable to common shareholder) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 575.92 Td (19,518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 575.92 Td (134,916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 575.92 Td (251,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 575.92 Td (15,738) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 575.92 Td (421,219) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 558.05 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 515.55 226.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 515.55 54.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 515.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 515.55 54.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 515.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 515.55 55.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 515.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 515.55 54.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 515.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 515.55 54.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 477.55 226.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 477.55 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 477.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 477.55 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 477.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 477.55 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 477.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 477.55 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 477.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 477.55 54.00 -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 276 535.55 m 330 535.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 535.55 m 334 535.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 535.55 m 388 535.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 535.55 m 392 535.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 535.55 m 447 535.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 535.55 m 451 535.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 535.55 m 505 535.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 535.55 m 563 535.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276 515.55 m 330 515.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 535.55 m 388 535.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 515.55 m 388 515.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 535.55 m 447 535.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 515.55 m 447 515.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 535.55 m 505 535.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 515.55 m 505 515.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 515.55 m 563 515.55 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 538.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.95 539.63 Td (2013 Quarter Ended,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.50 539.63 Td (2013) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 518.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.00 519.78 Td (March31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.25 519.78 Td (June30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.60 519.78 Td (September30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.25 519.78 Td (December31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.75 519.78 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 496.22 Td (Operating revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.50 496.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.65 496.22 Td (685,827) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.50 496.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.65 496.22 Td (915,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.50 496.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.10 496.22 Td (1,151,535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.50 496.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 496.22 Td (698,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.50 496.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 496.22 Td (3,451,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 482.12 Td (Operations and maintenance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.65 482.12 Td (220,752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.65 482.12 Td (224,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 482.12 Td (222,617) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 482.12 Td (229,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 482.12 Td (897,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 468.12 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 468.12 Td (74,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.65 468.12 Td (183,728) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 468.12 Td (284,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 468.12 Td (79,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 468.12 Td (621,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 454.12 Td (Net income attributable to common shareholder) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 454.12 Td (26,042) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.65 454.12 Td (133,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 454.12 Td (234,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 454.12 Td (30,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 454.12 Td (424,969) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 422.45 Td (S-3.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 68.35 422.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 87.85 422.45 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 90.73 422.45 Td (Other) Tj ET Q q 0 0 0 rg BT 119.90 422.45 Td ( Income and Other) Tj ET Q q 0 0 0 rg BT 212.65 422.45 Td ( Expense) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 394.85 Td (The following table provides detail of ) Tj ET Q q 0 0 0 rg BT 261.79 394.85 Td (APS) Tj ET Q q 0 0 0 rg BT 286.09 394.85 Td (s other income and other expense for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 458.85 394.85 Td (2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 481.85 394.85 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 487.60 394.85 Td (2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 510.60 394.85 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.95 394.85 Td (2012) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 555.95 394.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 381.05 Td (\(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 367.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 344.75 270.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 344.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 344.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 344.75 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 344.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 344.75 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 316.75 270.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 316.75 78.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 316.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 316.75 79.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 316.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 316.75 79.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 277.75 270.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 277.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 277.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 277.75 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 277.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 277.75 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 249.75 270.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 249.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 249.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 249.75 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 249.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 249.75 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 221.75 270.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 221.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 221.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 221.75 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 221.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 221.75 79.00 -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 320 344.75 m 398 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 344.75 m 481 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 344.75 m 564 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 277.75 m 398 277.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 264.75 m 398 264.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 262.75 m 398 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 277.75 m 481 277.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 264.75 m 481 264.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 262.75 m 481 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 277.75 m 564 277.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 264.75 m 564 264.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 262.75 m 564 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 207.75 m 398 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 207.75 m 481 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 207.75 m 564 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 207.75 m 398 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 194.75 m 398 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 192.75 m 398 192.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 207.75 m 481 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 194.75 m 481 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 192.75 m 481 192.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 207.75 m 564 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 194.75 m 564 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 192.75 m 564 192.75 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 347.47 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.50 348.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.00 348.83 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.00 348.83 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 335.32 Td (Other income:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 394.50 333.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 477.50 333.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 560.50 333.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 321.32 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.50 321.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 321.32 Td (689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.50 321.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 321.32 Td (1,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 321.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 321.32 Td (310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 307.32 Td (Debt return on the purchase of Four Corners units 4 & 5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 296.42 Td (8,386) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 296.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.15 296.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 282.32 Td (Miscellaneous) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 282.32 Td (2,220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 282.32 Td (2,662) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 282.32 Td (2,558) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 268.32 Td (Total other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.50 268.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 268.32 Td (11,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.50 268.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 268.32 Td (3,896) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 268.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 268.32 Td (2,868) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 254.32 Td (Other expense:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 394.50 252.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 477.50 252.51 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 560.50 252.51 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 240.32 Td (Non-operating costs \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.50 240.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.30 240.37 Td (\(10,397) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 240.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.50 240.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 240.37 Td (\(9,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 240.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 240.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.30 240.37 Td (\(8,706) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.15 240.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 226.32 Td (Asset dispositions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.80 226.37 Td (\(615) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 226.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 226.37 Td (\(4,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 226.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.30 226.37 Td (\(1,511) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.15 226.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 212.32 Td (Miscellaneous) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.30 212.37 Td (\(2,391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 212.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 212.37 Td (\(5,831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 212.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.30 212.37 Td (\(10,933) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.15 212.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 198.32 Td (Total other expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.50 198.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.30 198.37 Td (\(13,403) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 198.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.50 198.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 198.37 Td (\(20,449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 198.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 198.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.30 198.37 Td (\(21,150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.15 198.32 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 160.65 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 160.65 Td (As defined by FERC, includes non-operating utility income and expense \(items excluded from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 146.85 Td (utility rate recovery\).) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 110.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 760.30 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 760.30 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 760.30 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 760.30 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.50 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.50 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.50 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.50 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.50 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.50 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.50 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 732.70 Td () Tj ET Q endstream endobj 323 0 obj <>] /Rotate 0 /Contents 324 0 R>> endobj 324 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (158) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 721.25 Td (S-4.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 68.35 721.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 87.85 721.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 90.73 721.25 Td (Changes in ) Tj ET Q q 0 0 0 rg BT 147.61 721.25 Td (Accumulated Other) Tj ET Q q 0 0 0 rg BT 244.82 721.25 Td ( Compr) Tj ET Q q 0 0 0 rg BT 282.62 721.25 Td (ehensive Loss) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.65 Td (The following table shows the changes in accumulated other comprehensive loss, including ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.85 Td (reclassification adjustments, net of tax, by component for the year ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 386.41 679.85 Td (December31, 2014) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 476.78 679.85 Td ( \(dollars in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.05 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 607.55 277.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 607.55 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 607.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 607.55 21.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 607.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 607.55 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 607.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 607.55 21.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 607.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 607.55 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 579.55 277.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 579.55 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 579.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 579.55 21.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 579.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 579.55 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 579.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 579.55 21.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 579.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 579.55 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 551.55 277.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 551.55 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 551.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 551.55 21.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 551.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 551.55 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 551.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 551.55 21.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 551.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 551.55 60.00 -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 327 643.55 m 386 643.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 643.55 m 390 643.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 643.55 m 411 643.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 643.55 m 415 643.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 643.55 m 474 643.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 643.55 m 478 643.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478 643.55 m 499 643.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 643.55 m 503 643.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 643.55 m 563 643.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 593.55 m 386 593.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 593.55 m 474 593.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 593.55 m 563 593.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 565.55 m 386 565.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 565.55 m 474 565.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 565.55 m 563 565.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 551.55 m 386 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 551.55 m 474 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 551.55 m 563 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 551.55 m 386 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 538.55 m 386 538.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 536.55 m 386 536.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 551.55 m 474 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 538.55 m 474 538.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 536.55 m 474 536.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 551.55 m 563 551.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 538.55 m 563 538.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 536.55 m 563 536.55 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 646.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.20 647.63 Td (Year Ended December 31, 2014) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 610.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.20 619.78 Td (Derivative) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 335.10 611.78 Td (Instruments) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 400.00 610.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.20 635.63 Td (Pensionand) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.85 627.63 Td (Other) Tj ET Q q 0 0 0 rg BT 454.14 627.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.60 619.63 Td (Postr) Tj ET Q q 0 0 0 rg BT 436.67 619.63 Td (etir) Tj ET Q q 0 0 0 rg BT 448.51 619.63 Td (ement) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.20 611.63 Td (Benefits) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 488.00 610.27 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.75 611.78 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 598.12 Td (Beginning balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.50 598.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.30 598.17 Td (\(23,059) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 598.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.50 598.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.30 598.17 Td (\(30,313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 598.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 598.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 598.17 Td (\(53,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 598.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 584.12 Td (OCI \(loss\) before reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.80 584.17 Td (\(809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 584.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.30 584.17 Td (\(10,415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 584.12 Td (\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 480.50 582.31 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 584.17 Td (\(11,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 584.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 570.12 Td (Amounts reclassified from accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 570.12 Td (13,483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.50 570.12 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 570.12 Td (2,780) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.50 570.12 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 570.12 Td (16,263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 556.12 Td (Net current period OCI \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 556.12 Td (12,674) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 392.50 554.31 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.30 556.17 Td (\(7,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 556.12 Td (\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 480.50 554.31 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 556.12 Td (5,039) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 542.12 Td (Ending balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.50 542.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.30 542.17 Td (\(10,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 542.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.50 542.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.30 542.17 Td (\(37,948) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 542.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 542.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 542.17 Td (\(48,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 542.12 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 504.45 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 504.45 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 103.50 490.65 Td (purchased power costs and are subject to the PSA. See Note 16.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 476.85 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 476.85 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 103.50 463.05 Td (computation of net periodic pension cost. See Note 7.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 435.45 Td (The following table shows the changes in accumulated other comprehensive loss, including ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 421.65 Td (reclassification adjustments, net of tax, by component for the year ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 386.41 421.65 Td (December31, 2013) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 476.78 421.65 Td ( \(dollars in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 407.85 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 349.35 277.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 349.35 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 349.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 349.35 21.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 349.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 349.35 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 349.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 349.35 21.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 349.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 349.35 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 321.35 277.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 321.35 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 321.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 321.35 21.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 321.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 321.35 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 321.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 321.35 21.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 321.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 321.35 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 293.35 277.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 293.35 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 293.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 293.35 21.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 293.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 293.35 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 293.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 293.35 21.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 293.35 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 293.35 60.00 -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 327 385.35 m 386 385.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 385.35 m 390 385.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 385.35 m 411 385.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 385.35 m 415 385.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 385.35 m 474 385.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 385.35 m 478 385.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478 385.35 m 499 385.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 385.35 m 503 385.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 385.35 m 563 385.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 335.35 m 386 335.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 335.35 m 474 335.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 335.35 m 563 335.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 307.35 m 386 307.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 307.35 m 474 307.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 307.35 m 563 307.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 293.35 m 386 293.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 293.35 m 474 293.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 293.35 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 327 293.35 m 386 293.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 280.35 m 386 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 278.35 m 386 278.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 293.35 m 474 293.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 280.35 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 415 278.35 m 474 278.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 293.35 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 503 280.35 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 503 278.35 m 563 278.35 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 388.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.20 389.43 Td (Year Ended December 31, 2013) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 352.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.20 361.58 Td (Derivative) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 335.10 353.58 Td (Instruments) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 400.00 352.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.20 377.43 Td (Pensionand) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.85 369.43 Td (Other) Tj ET Q q 0 0 0 rg BT 454.14 369.43 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.60 361.43 Td (Postr) Tj ET Q q 0 0 0 rg BT 436.67 361.43 Td (etir) Tj ET Q q 0 0 0 rg BT 448.51 361.43 Td (ement) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.20 353.43 Td (Benefits) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 488.00 352.07 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.75 353.58 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 339.92 Td (Beginning balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.50 339.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.30 339.97 Td (\(49,592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 339.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.50 339.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.30 339.97 Td (\(39,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 339.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 339.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 339.97 Td (\(89,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 339.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 325.92 Td (OCI \(loss\) before reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.80 325.97 Td (\(214) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 325.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 325.92 Td (5,387) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 480.50 324.11 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 325.92 Td (5,173) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 311.92 Td (Amounts reclassified from accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 311.92 Td (26,747) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.50 311.92 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 311.92 Td (3,803) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.50 311.92 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 311.92 Td (30,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 297.92 Td (Net current period OCI) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 297.92 Td (26,533) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 392.50 296.11 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 297.92 Td (9,190) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 480.50 296.11 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 297.92 Td (35,723) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 283.92 Td (Ending balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.50 283.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.30 283.97 Td (\(23,059) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 283.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.50 283.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.30 283.97 Td (\(30,313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 283.92 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 283.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 283.97 Td (\(53,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 283.92 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 246.25 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 246.25 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 103.50 232.45 Td (purchased power costs and are subject to the PSA. See Note 16.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 218.65 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 218.65 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 103.50 204.85 Td (computation of net periodic pension cost. See Note 7.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 110.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 760.30 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 760.30 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 760.30 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 760.30 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.70 746.50 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 197.35 746.50 Td (T) Tj ET Q q 0 0 0 rg BT 204.82 746.50 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 285.44 746.50 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 376.50 746.50 Td ( ST) Tj ET Q q 0 0 0 rg BT 392.58 746.50 Td (A) Tj ET Q q 0 0 0 rg BT 400.04 746.50 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 732.70 Td () Tj ET Q endstream endobj 325 0 obj <>] /Rotate 0 /Contents 326 0 R>> endobj 326 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (159) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 126.70 734.75 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 189.43 734.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 222.46 734.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 260.26 734.75 Td (AL) Tj ET Q q 0 0 0 rg BT 275.60 734.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 335.76 734.75 Td (TION HOLDING COMP) Tj ET Q q 0 0 0 rg BT 460.78 734.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 99.85 720.95 Td (SCHEDULE I CONDENSED FINANCIAL) Tj ET Q q 0 0 0 rg BT 327.34 720.95 Td ( INFORMA) Tj ET Q q 0 0 0 rg BT 385.58 720.95 Td (TION OF) Tj ET Q q 0 0 0 rg BT 433.39 720.95 Td ( REGISTRANT) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 142.20 707.15 Td (CONDENSED ST) Tj ET Q q 0 0 0 rg BT 230.50 707.15 Td (A) Tj ET Q q 0 0 0 rg BT 237.95 707.15 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 312.60 707.15 Td ( COMPREHENSIVE INCOME) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 273.25 693.35 Td (\(in thousands\)) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 679.55 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 645.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 645.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 645.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 645.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 645.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 645.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 617.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 617.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 617.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 617.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 617.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 617.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 589.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 589.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 589.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 589.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 589.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 589.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 561.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 561.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 561.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 561.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 561.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 561.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 533.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 533.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 533.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 533.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 533.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 533.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 505.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 505.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 505.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 505.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 505.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 505.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 477.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 477.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 477.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 477.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 477.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 477.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 449.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 449.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 449.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 449.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 449.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 449.05 65.00 -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 359 657.05 m 424 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 657.05 m 428 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 657.05 m 493 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 657.05 m 497 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 657.05 m 562 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 645.05 m 424 645.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 657.05 m 493 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 645.05 m 493 645.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 657.05 m 497 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 657.05 m 562 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 645.05 m 562 645.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 617.05 m 424 617.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 617.05 m 493 617.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 617.05 m 562 617.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 561.05 m 424 561.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 561.05 m 493 561.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 561.05 m 562 561.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 561.05 m 562 561.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 533.05 m 424 533.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 533.05 m 493 533.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 533.05 m 562 533.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 505.05 m 424 505.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 505.05 m 493 505.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 505.05 m 562 505.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 477.05 m 424 477.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 477.05 m 493 477.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 477.05 m 562 477.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 449.05 m 424 449.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 449.05 m 493 449.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 449.05 m 562 449.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 449.05 m 424 449.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 436.05 m 424 436.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 434.05 m 424 434.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 449.05 m 493 449.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 436.05 m 493 436.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 434.05 m 493 434.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 449.05 m 562 449.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 436.05 m 562 436.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 434.05 m 562 434.05 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 659.77 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.70 661.13 Td (YearEndedDecember31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 647.77 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.00 649.13 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 649.13 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.00 649.13 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 635.62 Td (Operating revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 635.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 635.62 Td (642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 635.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 635.62 Td (799) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 635.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 635.62 Td (6,133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 621.62 Td (Operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 621.62 Td (23,507) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 621.62 Td (24,930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 621.62 Td (12,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 607.62 Td (Operating loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 607.67 Td (\(22,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 607.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 607.67 Td (\(24,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 607.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 607.67 Td (\(5,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 607.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 593.62 Td (Other) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 591.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 591.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 591.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 579.62 Td (Equity in earnings of subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 579.62 Td (411,528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 579.62 Td (420,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 579.62 Td (391,528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 565.62 Td (Other expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.30 565.67 Td (\(3,276) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 565.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 565.67 Td (\(1,999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 565.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 565.67 Td (\(2,001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 565.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 551.62 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 551.62 Td (408,252) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 551.62 Td (418,927) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 551.62 Td (389,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 537.62 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 537.62 Td (3,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 537.62 Td (3,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 537.62 Td (4,868) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 523.62 Td (Income from continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 523.62 Td (381,724) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 523.62 Td (391,570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 523.62 Td (378,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 509.62 Td (Income tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 509.67 Td (\(15,871) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 509.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 509.67 Td (\(14,504) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 509.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 509.67 Td (\(7,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 509.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 495.62 Td (Income from continuing operations net of income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 495.62 Td (397,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 495.62 Td (406,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 495.62 Td (385,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 481.62 Td (Loss from discontinued operations net of income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 481.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 481.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 481.67 Td (\(4,204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 481.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 467.62 Td (Net income attributable to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 467.62 Td (397,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 467.62 Td (406,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 467.62 Td (381,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 453.62 Td (Other comprehensive income attributable to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 453.62 Td (9,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 453.62 Td (35,955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 453.62 Td (38,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 439.62 Td (Total comprehensive income attributable to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 439.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 439.62 Td (407,507) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 439.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 439.62 Td (442,029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 439.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 439.62 Td (419,697) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 421.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 56.50 407.95 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 159.77 407.95 Td (W) Tj ET Q q 0 0 0 rg BT 169.71 407.95 Td (est) Tj ET Q q 0 0 0 rg BT 185.68 407.95 Td (s Consolidated Financial Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 327 0 obj <>] /Rotate 0 /Contents 328 0 R>> endobj 328 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (160) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 126.70 734.75 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 189.43 734.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 222.46 734.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 260.26 734.75 Td (AL) Tj ET Q q 0 0 0 rg BT 275.60 734.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 335.76 734.75 Td (TION HOLDING COMP) Tj ET Q q 0 0 0 rg BT 460.78 734.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 99.85 720.95 Td (SCHEDULE I CONDENSED FINANCIAL) Tj ET Q q 0 0 0 rg BT 327.34 720.95 Td ( INFORMA) Tj ET Q q 0 0 0 rg BT 385.58 720.95 Td (TION OF) Tj ET Q q 0 0 0 rg BT 433.39 720.95 Td ( REGISTRANT) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 216.50 707.15 Td (CONDENSED BALANCE SHEETS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 273.25 693.35 Td (\(in thousands\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 679.55 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 645.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 645.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 645.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 645.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 617.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 617.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 617.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 617.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 589.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 589.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 589.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 589.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 561.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 561.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 561.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 561.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 533.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 533.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 533.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 533.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 505.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 505.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 505.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 505.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 477.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 477.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 477.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 477.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 449.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 449.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 449.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 449.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 421.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 421.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 421.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 421.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 393.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 393.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 393.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 393.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 365.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 365.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 365.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 365.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 337.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 337.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 337.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 337.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 309.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 309.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 309.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 309.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 281.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 281.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 281.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 281.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 253.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 253.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 253.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 253.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 225.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 225.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 225.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 225.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 197.05 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 197.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 197.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 197.05 65.00 -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 427.5 657.05 m 492.5 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 657.05 m 496.5 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 657.05 m 561.5 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 645.05 m 492.5 645.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 657.05 m 561.5 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 645.05 m 561.5 645.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 547.05 m 492.5 547.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 547.05 m 561.5 547.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 533.05 m 492.5 533.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 533.05 m 561.5 533.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 491.04999999999995 m 492.5 491.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 491.04999999999995 m 561.5 491.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 477.04999999999995 m 492.5 477.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 477.04999999999995 m 561.5 477.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 464.04999999999995 m 492.5 464.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 462.04999999999995 m 492.5 462.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 464.04999999999995 m 561.5 464.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 462.04999999999995 m 561.5 462.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 379.04999999999995 m 492.5 379.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 379.04999999999995 m 561.5 379.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 365.04999999999995 m 492.5 365.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 365.04999999999995 m 561.5 365.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 295.04999999999995 m 492.5 295.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 295.04999999999995 m 561.5 295.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 281.04999999999995 m 492.5 281.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 281.04999999999995 m 561.5 281.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 225.04999999999995 m 492.5 225.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 225.04999999999995 m 561.5 225.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 197.04999999999995 m 492.5 197.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 197.04999999999995 m 561.5 197.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 183.04999999999995 m 492.5 183.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 183.04999999999995 m 561.5 183.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 183.04999999999995 m 492.5 183.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 170.04999999999995 m 492.5 170.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 168.04999999999995 m 492.5 168.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 183.04999999999995 m 561.5 183.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 170.04999999999995 m 561.5 170.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 168.04999999999995 m 561.5 168.04999999999995 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.00 659.77 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.75 661.13 Td (December31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.00 647.77 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 649.13 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 649.13 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 635.62 Td (ASSETS) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 489.00 633.77 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 558.00 633.77 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 621.62 Td (Current assets) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.00 619.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.00 619.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 607.62 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 607.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 607.62 Td (3,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 607.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 607.62 Td (5,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 593.62 Td (Accounts receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 593.62 Td (99,958) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 593.62 Td (80,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 579.62 Td (Current deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 579.62 Td (66,979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 579.62 Td (93,185) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 565.62 Td (Income tax receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 565.62 Td (7,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 565.62 Td (1,853) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 551.62 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 551.62 Td (124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 551.62 Td (242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 537.62 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 537.62 Td (177,478) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 537.62 Td (181,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 523.62 Td (Investments and other assets) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.00 521.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.00 521.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 509.62 Td (Investments in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 509.62 Td (4,630,570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 509.62 Td (4,455,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 495.62 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 495.62 Td (43,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 495.62 Td (13,789) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 481.62 Td (Total investments and other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 481.62 Td (4,673,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 481.62 Td (4,468,838) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 467.62 Td (Total Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 467.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 467.62 Td (4,851,099) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 467.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 467.62 Td (4,650,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 453.62 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.00 451.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.00 451.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 439.62 Td (Current liabilities) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.00 437.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.00 437.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 425.62 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 425.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 425.62 Td (5,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 425.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 425.62 Td (3,279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 411.62 Td (Accrued taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 411.62 Td (12,220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 411.62 Td (8,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 397.62 Td (Common dividends payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 397.62 Td (65,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 397.62 Td (62,528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 383.62 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 383.62 Td (38,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 383.62 Td (31,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 369.62 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 369.62 Td (122,252) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 369.62 Td (105,640) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 355.62 Td (Long-term debt less current maturities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 355.62 Td (125,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 355.62 Td (125,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 341.62 Td (Deferred credits and other) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.00 339.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.00 339.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 327.62 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 327.62 Td (12,055) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 327.62 Td (4,158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 313.62 Td (Pension and other postretirement liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 313.62 Td (29,228) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 313.62 Td (37,611) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 299.62 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 299.62 Td (43,462) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 299.62 Td (37,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 285.62 Td (Total deferred credits and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 285.62 Td (84,745) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 285.62 Td (78,924) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 271.62 Td (Common stock equity) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.00 269.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 257.62 Td (Common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 257.62 Td (2,509,569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 257.62 Td (2,487,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 243.62 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 243.67 Td (\(68,141) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 243.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 243.67 Td (\(78,053) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 243.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 229.62 Td (Retained earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 229.62 Td (1,926,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 229.62 Td (1,785,273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 215.62 Td (Total Pinnacle West Shareholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 215.62 Td (4,367,493) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 215.62 Td (4,194,470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 201.62 Td (Noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 201.62 Td (151,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 201.62 Td (145,990) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 187.62 Td (Total Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 187.62 Td (4,519,102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 187.62 Td (4,340,460) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 173.62 Td (Total Liabilities and Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 173.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 173.62 Td (4,851,099) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 173.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 173.62 Td (4,650,024) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.95 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 152.77 141.95 Td (W) Tj ET Q q 0 0 0 rg BT 162.71 141.95 Td (est) Tj ET Q q 0 0 0 rg BT 178.68 141.95 Td (s Consolidated Financial Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 329 0 obj <>] /Rotate 0 /Contents 330 0 R>> endobj 330 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (161) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 126.70 734.75 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 189.43 734.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 222.46 734.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 260.26 734.75 Td (AL) Tj ET Q q 0 0 0 rg BT 275.60 734.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 335.76 734.75 Td (TION HOLDING COMP) Tj ET Q q 0 0 0 rg BT 460.78 734.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 99.85 720.95 Td (SCHEDULE I CONDENSED FINANCIAL) Tj ET Q q 0 0 0 rg BT 327.34 720.95 Td ( INFORMA) Tj ET Q q 0 0 0 rg BT 385.58 720.95 Td (TION OF) Tj ET Q q 0 0 0 rg BT 433.39 720.95 Td ( REGISTRANT) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 181.15 707.15 Td (CONDENSED ST) Tj ET Q q 0 0 0 rg BT 269.45 707.15 Td (A) Tj ET Q q 0 0 0 rg BT 276.90 707.15 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 351.55 707.15 Td ( CASH FLOWS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 273.25 693.35 Td (\(in thousands\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 679.55 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 645.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 645.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 645.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 645.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 645.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 645.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 617.05 309.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 617.05 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 617.05 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 617.05 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 617.05 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 617.05 65.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 579.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 579.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 579.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 579.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 579.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 579.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 551.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 551.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 551.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 551.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 551.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 551.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 523.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 523.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 523.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 523.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 523.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 523.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 495.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 495.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 495.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 495.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 495.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 495.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 467.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 467.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 467.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 467.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 467.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 467.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 439.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 439.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 439.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 439.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 439.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 439.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 411.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 411.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 411.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 411.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 411.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 411.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 383.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 383.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 383.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 383.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 383.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 383.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 355.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 355.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 355.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 355.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 355.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 355.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 327.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 327.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 327.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 327.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 327.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 327.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 299.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 299.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 299.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 299.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 299.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 299.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 271.05 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 271.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 271.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 271.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 271.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 271.05 65.00 -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 358.5 657.05 m 423.5 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 657.05 m 427.5 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 657.05 m 492.5 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 657.05 m 496.5 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 657.05 m 561.5 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 645.05 m 423.5 645.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 657.05 m 492.5 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 645.05 m 492.5 645.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 657.05 m 496.5 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 657.05 m 561.5 657.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 645.05 m 561.5 645.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 481.04999999999995 m 423.5 481.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 481.04999999999995 m 492.5 481.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 481.04999999999995 m 561.5 481.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 467.04999999999995 m 423.5 467.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 467.04999999999995 m 492.5 467.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 481.04999999999995 m 561.5 481.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 467.04999999999995 m 561.5 467.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 411.04999999999995 m 423.5 411.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 397.04999999999995 m 423.5 397.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 411.04999999999995 m 492.5 411.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 397.04999999999995 m 492.5 397.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 411.04999999999995 m 561.5 411.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 397.04999999999995 m 561.5 397.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 313.04999999999995 m 423.5 313.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 313.04999999999995 m 492.5 313.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 313.04999999999995 m 561.5 313.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 299.04999999999995 m 423.5 299.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 299.04999999999995 m 492.5 299.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 313.04999999999995 m 561.5 313.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 299.04999999999995 m 561.5 299.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 285.04999999999995 m 423.5 285.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 285.04999999999995 m 492.5 285.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 285.04999999999995 m 561.5 285.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 271.04999999999995 m 423.5 271.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 271.04999999999995 m 492.5 271.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 271.04999999999995 m 561.5 271.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 258.04999999999995 m 423.5 258.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 256.04999999999995 m 423.5 256.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 258.04999999999995 m 492.5 258.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 256.04999999999995 m 492.5 256.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 258.04999999999995 m 561.5 258.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 256.04999999999995 m 561.5 256.04999999999995 l s BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.00 659.77 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.20 661.13 Td (YearEndedDecember31,) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.00 647.77 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.50 649.13 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 649.13 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 649.13 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 635.62 Td (Cash flows from operating activities) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.00 633.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.00 633.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.00 633.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 621.62 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 621.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 621.62 Td (397,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 621.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 621.62 Td (406,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 621.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 621.62 Td (381,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 607.62 Td (Adjustments to reconcile net income to net cash provided by operating) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 597.62 Td (activities:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.00 595.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.00 595.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 583.62 Td (Equity in earnings of subsidiaries net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.80 583.67 Td (\(411,528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 583.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 583.67 Td (\(420,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 583.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 583.67 Td (\(391,528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 583.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 569.62 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 569.62 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 569.62 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 569.62 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 555.62 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 555.62 Td (4,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 555.67 Td (\(28,806) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 555.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 555.67 Td (\(15,135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 555.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 541.62 Td (Accounts receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 541.67 Td (\(22,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 541.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 541.62 Td (21,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 541.62 Td (28,763) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 527.62 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 527.62 Td (2,017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 527.67 Td (\(2,449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 527.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 527.62 Td (879) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 513.62 Td (Accrued taxes and income tax receivables net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 513.67 Td (\(1,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 513.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 513.62 Td (1,402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 513.67 Td (\(3,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 513.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 499.62 Td (Dividends received from subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 499.62 Td (253,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 499.62 Td (242,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 499.62 Td (222,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 485.62 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 485.62 Td (18,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 485.67 Td (\(15,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 485.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 485.67 Td (\(4,589) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 485.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 471.62 Td (Net cash flow provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 471.62 Td (239,876) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 471.62 Td (204,096) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 471.62 Td (219,123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 457.62 Td (Cash flows from investing activities) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.00 455.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.00 455.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.00 455.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 443.62 Td (Investments in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 443.67 Td (\(10,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 443.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 443.67 Td (\(3,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 443.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 443.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 429.62 Td (Repayments of loans from subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 429.62 Td (322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 429.62 Td (2,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 429.62 Td (996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 415.62 Td (Advances of loans to subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 415.67 Td (\(1,450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 415.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 415.67 Td (\(2,099) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 415.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 415.67 Td (\(1,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 415.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 401.62 Td (Net cash flow used for investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 401.67 Td (\(11,364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 401.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 401.67 Td (\(3,350) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 401.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 401.67 Td (\(204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 401.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 387.62 Td (Cash flows from financing activities) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.00 385.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.00 385.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.00 385.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 373.62 Td (Issuance of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 373.62 Td (125,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 373.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 373.62 Td (125,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 359.62 Td (Dividends paid on common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.80 359.67 Td (\(246,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 359.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 359.67 Td (\(235,244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 359.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 359.67 Td (\(225,075) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 359.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 345.62 Td (Repayment of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.80 345.67 Td (\(125,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 345.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 345.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 345.67 Td (\(125,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 345.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 331.62 Td (Common stock equity issuance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 331.62 Td (15,288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 331.62 Td (17,319) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 331.62 Td (15,955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 317.62 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 317.62 Td (161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 317.62 Td (298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 317.62 Td (170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 303.62 Td (Net cash flow used for financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.80 303.67 Td (\(231,222) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 303.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 303.67 Td (\(217,627) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 303.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 303.67 Td (\(208,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 303.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 289.62 Td (Net increase \(decrease\) in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 289.67 Td (\(2,710) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 289.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 289.67 Td (\(16,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 289.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 289.62 Td (9,969) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 275.62 Td (Cash and cash equivalents at beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 275.62 Td (5,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 275.62 Td (22,679) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 275.62 Td (12,710) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 261.62 Td (Cash and cash equivalents at end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 261.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 261.62 Td (3,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 261.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 261.62 Td (5,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 261.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 261.62 Td (22,679) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 243.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 56.50 229.95 Td (See Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 159.77 229.95 Td (W) Tj ET Q q 0 0 0 rg BT 169.71 229.95 Td (est) Tj ET Q q 0 0 0 rg BT 185.68 229.95 Td (s Consolidated Financial Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 331 0 obj <>] /Rotate 0 /Contents 332 0 R>> endobj 332 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (162) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 734.75 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 734.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 734.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 734.75 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 734.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 734.75 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 164.45 720.95 Td (SCHEDULE II RESER) Tj ET Q q 0 0 0 rg BT 294.74 720.95 Td (VE FOR UNCOLLECTIBLES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 707.15 Td (\(dollars in thousands\)) Tj ET Q BT /F1 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m 493 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 670.85 m 562 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 658.85 m 355 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 658.85 m 359 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 658.85 m 424 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 630.85 m 221 630.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 630.85 m 286 630.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 630.85 m 355 630.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 630.85 m 424 630.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 630.85 m 493 630.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 630.85 m 562 630.85 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 117.75 674.93 Td (ColumnA) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 235.55 674.93 Td (ColumnB) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 674.93 Td (ColumnC) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.30 674.93 Td (ColumnD) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.55 674.93 Td (ColumnE) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 661.57 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 253.00 661.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.80 662.93 Td (Additions) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 460.00 661.57 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 529.00 661.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 635.08 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 235.10 650.93 Td (Balanceat) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 236.10 642.93 Td (beginning) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.55 634.93 Td (ofperiod) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 302.75 650.93 Td (Chargedto) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.85 642.93 Td (costand) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.10 634.93 Td (expenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.10 650.93 Td (Charged) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.60 642.93 Td (toother) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.10 634.93 Td (accounts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.85 635.08 Td (Deductions) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.40 650.93 Td (Balance) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.10 642.93 Td (atendof) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.85 634.93 Td (period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 621.42 Td (Reserve for uncollectibles:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 282.50 619.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 619.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 619.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 619.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 619.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 607.42 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.50 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.65 607.42 Td (3,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 607.42 Td (3,942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 607.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 607.42 Td (4,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 607.42 Td (3,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 593.42 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.65 593.42 Td (3,340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 593.42 Td (4,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 593.42 Td (5,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 593.42 Td (3,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 579.42 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.65 579.42 Td (3,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 579.42 Td (5,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 579.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 579.42 Td (5,698) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 579.42 Td (3,340) Tj ET Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 333 0 obj <>] /Rotate 0 /Contents 334 0 R>> endobj 334 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (163) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 734.75 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 734.75 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 734.75 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 734.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 164.45 720.95 Td (SCHEDULE II RESER) Tj ET Q q 0 0 0 rg BT 294.74 720.95 Td (VE FOR UNCOLLECTIBLES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 707.15 Td (\(dollars in thousands\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 630.85 167.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 630.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 630.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 630.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 630.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 630.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 630.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 630.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 630.85 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 630.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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670.85 m 286 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 670.85 m 355 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 670.85 m 359 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 670.85 m 424 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 670.85 m 493 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 670.85 m 562 670.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 658.85 m 355 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 658.85 m 359 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 658.85 m 424 658.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 630.85 m 217 630.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 630.85 m 286 630.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 630.85 m 355 630.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 630.85 m 424 630.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 630.85 m 493 630.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 630.85 m 562 630.85 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 115.75 674.93 Td (ColumnA) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 235.55 674.93 Td (ColumnB) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 674.93 Td (ColumnC) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.30 674.93 Td (ColumnD) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.55 674.93 Td (ColumnE) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 52.50 661.57 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 253.00 661.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.80 662.93 Td (Additions) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 460.00 661.57 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 529.00 661.57 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 635.08 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 235.10 650.93 Td (Balanceat) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 236.10 642.93 Td (beginning) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.55 634.93 Td (ofperiod) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 302.75 650.93 Td (Chargedto) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.85 642.93 Td (costand) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.10 634.93 Td (expenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.10 650.93 Td (Charged) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.60 642.93 Td (toother) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.10 634.93 Td (accounts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.85 635.08 Td (Deductions) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.40 650.93 Td (Balance) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.10 642.93 Td (atendof) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.85 634.93 Td (period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 621.42 Td (Reserve for uncollectibles:) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 282.50 619.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 619.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 420.50 619.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 489.50 619.61 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 558.50 619.61 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 607.42 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.50 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.65 607.42 Td (3,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 607.42 Td (3,942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 607.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 607.42 Td (4,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 607.42 Td (3,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 593.42 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.65 593.42 Td (3,340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 593.42 Td (4,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 593.42 Td (5,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 593.42 Td (3,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 579.42 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.65 579.42 Td (3,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 579.42 Td (5,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 579.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 579.42 Td (5,698) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 579.42 Td (3,340) Tj ET Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 335 0 obj <>] /Rotate 0 /Contents 336 0 R>> endobj 336 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (164) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 117.50 734.75 Td (ITEM 9. CHANGES IN ) Tj ET Q q 0 0 0 rg BT 240.19 734.75 Td (AND DISAGREEMENTS ) Tj ET Q q 0 0 0 rg BT 371.62 734.75 Td (WITH ) Tj ET Q q 0 0 0 rg BT 406.45 734.75 Td (ACCOUNT) Tj ET Q q 0 0 0 rg BT 463.74 734.75 Td (ANTS) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 170.20 720.95 Td (ON ) Tj ET Q q 0 0 0 rg BT 189.69 720.95 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 271.80 720.95 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 364.13 720.95 Td ( DISCLOSURE) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 707.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.35 Td (None.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 190.95 679.55 Td (ITEM 9A. CONTROLS ) Tj ET Q q 0 0 0 rg BT 313.96 679.55 Td (AND PROCEDURES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 665.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 651.95 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 651.95 Td (Disclosure Controls and Procedures) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 638.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.35 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 49.50 610.55 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 49.50 596.75 Td (submits under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 229.95 596.75 Td (Act of 1934 \(the Exchange ) Tj ET Q q 0 0 0 rg BT 361.20 596.75 Td (Act\) \(15 U.S.C. 78a ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 461.17 596.75 Td (et seq) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 487.67 596.75 Td (.\) is recorded, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.95 Td (processed, summarized and reported, within the time periods specified in the SEC) Tj ET Q q 0 0 0 rg BT 429.87 582.95 Td (s rulesand forms. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (information required to be disclosed by a company in the reports that it files or submits under the Exchange ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.55 Td (Act is accumulated and communicated to a company) Tj ET Q q 0 0 0 rg BT 295.71 541.55 Td (s management, including its principal executive and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.75 Td (principal financial of) Tj ET Q q 0 0 0 rg BT 145.73 527.75 Td (ficers, or persons performing similar functions, as appropriate to allow timely decisions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.95 Td (regarding required disclosure.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 500.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 486.35 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 486.35 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 486.35 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 486.35 Td (s management, with the participation of Pinnacle ) Tj ET Q q 0 0 0 rg BT 381.49 486.35 Td (W) Tj ET Q q 0 0 0 rg BT 391.42 486.35 Td (est) Tj ET Q q 0 0 0 rg BT 407.39 486.35 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 503.95 486.35 Td (ficer and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.55 Td (Chief Financial Of) Tj ET Q q 0 0 0 rg BT 135.52 472.55 Td (ficer) Tj ET Q q 0 0 0 rg BT 156.13 472.55 Td (, have evaluated the ef) Tj ET Q q 0 0 0 rg BT 259.04 472.55 Td (fectiveness of Pinnacle ) Tj ET Q q 0 0 0 rg BT 367.73 472.55 Td (W) Tj ET Q q 0 0 0 rg BT 377.66 472.55 Td (est) Tj ET Q q 0 0 0 rg BT 393.64 472.55 Td (s disclosure controls and procedures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.75 Td (as of December31, 2014. Based on that evaluation, Pinnacle ) Tj ET Q q 0 0 0 rg BT 334.80 458.75 Td (W) Tj ET Q q 0 0 0 rg BT 344.73 458.75 Td (est) Tj ET Q q 0 0 0 rg BT 360.70 458.75 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 457.26 458.75 Td (ficer and Chief ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.95 Td (Financial Of) Tj ET Q q 0 0 0 rg BT 107.10 444.95 Td (ficer have concluded that, as of that date, Pinnacle ) Tj ET Q q 0 0 0 rg BT 340.95 444.95 Td (W) Tj ET Q q 0 0 0 rg BT 350.88 444.95 Td (est) Tj ET Q q 0 0 0 rg BT 366.85 444.95 Td (s disclosure controls and procedures were ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.15 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 431.15 Td (fective.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 417.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 403.55 Td (APS) Tj ET Q q 0 0 0 rg BT 109.79 403.55 Td (s management, with the participation of ) Tj ET Q q 0 0 0 rg BT 294.71 403.55 Td (APS) Tj ET Q q 0 0 0 rg BT 319.00 403.55 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 415.56 403.55 Td (ficer and Chief Financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.75 Td (Of) Tj ET Q q 0 0 0 rg BT 61.43 389.75 Td (ficer) Tj ET Q q 0 0 0 rg BT 82.03 389.75 Td (, have evaluated the ef) Tj ET Q q 0 0 0 rg BT 184.95 389.75 Td (fectiveness of ) Tj ET Q q 0 0 0 rg BT 250.73 389.75 Td (APS) Tj ET Q q 0 0 0 rg BT 275.03 389.75 Td (s disclosure controls and procedures as of December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.95 Td (2014. Based on that evaluation, ) Tj ET Q q 0 0 0 rg BT 199.62 375.95 Td (APS) Tj ET Q q 0 0 0 rg BT 223.91 375.95 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 320.46 375.95 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 449.90 375.95 Td (ficer have concluded ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.15 Td (that, as of that date, ) Tj ET Q q 0 0 0 rg BT 141.79 362.15 Td (APS) Tj ET Q q 0 0 0 rg BT 166.09 362.15 Td (s disclosure controls and procedures were ef) Tj ET Q q 0 0 0 rg BT 369.62 362.15 Td (fective.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 348.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 334.55 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 334.55 Td (Management) Tj ET Q q 0 0 0 rg BT 220.73 334.55 Td (s ) Tj ET Q q 0 0 0 rg BT 227.45 334.55 Td (Annual Reports on Internal Control Over Financial Reporting) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 320.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 306.95 Td (Reference is made to Management) Tj ET Q q 0 0 0 rg BT 253.46 306.95 Td (s Report on Internal Control Over Financial Reporting \(Pinnacle ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.15 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 293.15 Td (est Capital Corporation\) on page73 of this report and Management) Tj ET Q q 0 0 0 rg BT 381.99 293.15 Td (s Report on Internal Control Over ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.35 Td (Financial Reporting \(ArizonaPublicService Company\) on page143 of this report.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 251.75 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 251.75 Td (Attestation Reports of the Registered Public ) Tj ET Q q 0 0 0 rg BT 362.56 251.75 Td (Accounting Firm) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 237.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 224.15 Td (Reference is made to Report of Independent Registered Public ) Tj ET Q q 0 0 0 rg BT 380.26 224.15 Td (Accounting Firm on page74 of this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.35 Td (report and Report of Independent Registered Public ) Tj ET Q q 0 0 0 rg BT 294.45 210.35 Td (Accounting Firm on page144 of this report on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.55 Td (internal control over financial reporting of Pinnacle ) Tj ET Q q 0 0 0 rg BT 289.11 196.55 Td (W) Tj ET Q q 0 0 0 rg BT 299.05 196.55 Td (est and ) Tj ET Q q 0 0 0 rg BT 333.54 196.55 Td (APS, respectively) Tj ET Q q 0 0 0 rg BT 415.20 196.55 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 168.95 Td (\(d\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 168.95 Td (Changes In Internal Control Over Financial Reporting) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 155.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 141.35 Td (No change in Pinnacle ) Tj ET Q q 0 0 0 rg BT 191.96 141.35 Td (W) Tj ET Q q 0 0 0 rg BT 201.89 141.35 Td (est) Tj ET Q q 0 0 0 rg BT 217.86 141.35 Td (s or ) Tj ET Q q 0 0 0 rg BT 237.03 141.35 Td (APS) Tj ET Q q 0 0 0 rg BT 261.32 141.35 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 49.50 127.55 Td (fiscal quarter ended December31, 2014 that materially af) Tj ET Q q 0 0 0 rg BT 314.64 127.55 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 523.28 127.55 Td (fect, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.75 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 113.75 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 113.75 Td (est) Tj ET Q q 0 0 0 rg BT 117.67 113.75 Td (s or ) Tj ET Q q 0 0 0 rg BT 136.84 113.75 Td (APS) Tj ET Q q 0 0 0 rg BT 161.14 113.75 Td (s internal control over financial reporting.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 337 0 obj <>] /Rotate 0 /Contents 338 0 R>> endobj 338 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (165) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 213.60 734.75 Td (ITEM 9B. OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 368.97 734.75 Td (TION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.15 Td (None.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 282.90 679.55 Td (P) Tj ET Q q 0 0 0 rg BT 289.07 679.55 Td (AR) Tj ET Q q 0 0 0 rg BT 305.28 679.55 Td (T) Tj ET Q q 0 0 0 rg BT 312.74 679.55 Td (III) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 665.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 177.50 638.15 Td (ITEM 10. DIRECT) Tj ET Q q 0 0 0 rg BT 275.70 638.15 Td (ORS, EXECUTIVE OFFICERS) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 154.25 624.35 Td (AND CORPORA) Tj ET Q q 0 0 0 rg BT 239.32 624.35 Td (TE GOVERNANCE OF) Tj ET Q q 0 0 0 rg BT 359.02 624.35 Td ( PINNACLE ) Tj ET Q q 0 0 0 rg BT 424.62 624.35 Td (WEST) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 610.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 596.75 Td (Reference is hereby made to Information ) Tj ET Q q 0 0 0 rg BT 281.56 596.75 Td (About Our Board and Corporate Governance, Proposal 1 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.95 Td ( Election of Directors and to Section16\(a\)Beneficial Ownership Reporting Compliance in the Pinnacle ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 569.15 Td (est Proxy Statement relating to the ) Tj ET Q q 0 0 0 rg BT 220.41 569.15 Td (Annual Meeting of Shareholders to be held on May20, 2015 \(the 2015 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (Proxy Statement\) and to the Executive Of) Tj ET Q q 0 0 0 rg BT 251.76 555.35 Td (ficers of Pinnacle) Tj ET Q q 0 0 0 rg BT 334.90 555.35 Td (W) Tj ET Q q 0 0 0 rg BT 344.83 555.35 Td (est section in PartI of this report.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 527.75 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 527.75 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 527.75 Td (est has adopted a Code of Ethics for Financial Executives that applies to financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.95 Td (executives including Pinnacle ) Tj ET Q q 0 0 0 rg BT 189.49 513.95 Td (W) Tj ET Q q 0 0 0 rg BT 199.43 513.95 Td (est) Tj ET Q q 0 0 0 rg BT 215.40 513.95 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 311.95 513.95 Td (ficer) Tj ET Q q 0 0 0 rg BT 332.56 513.95 Td (, Chief Financial Of) Tj ET Q q 0 0 0 rg BT 424.33 513.95 Td (ficer) Tj ET Q q 0 0 0 rg BT 444.93 513.95 Td (, Chief ) Tj ET Q q 0 0 0 rg BT 478.47 513.95 Td (Accounting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.15 Td (Of) Tj ET Q q 0 0 0 rg BT 61.43 500.15 Td (ficer) Tj ET Q q 0 0 0 rg BT 82.03 500.15 Td (, Controller) Tj ET Q q 0 0 0 rg BT 134.59 500.15 Td (, ) Tj ET Q q 0 0 0 rg BT 140.13 500.15 Td (T) Tj ET Q q 0 0 0 rg BT 146.75 500.15 Td (reasurer) Tj ET Q q 0 0 0 rg BT 183.32 500.15 Td (, and General Counsel, the President and Chief Operating Of) Tj ET Q q 0 0 0 rg BT 462.56 500.15 Td (ficer of ) Tj ET Q q 0 0 0 rg BT 498.31 500.15 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.35 Td (other persons designated as financial executives by the Chair of the ) Tj ET Q q 0 0 0 rg BT 361.51 486.35 Td (Audit Committee. ) Tj ET Q q 0 0 0 rg BT 450.10 486.35 Td (The Code of Ethics for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.55 Td (Financial Executives is posted on Pinnacle ) Tj ET Q q 0 0 0 rg BT 248.59 472.55 Td (W) Tj ET Q q 0 0 0 rg BT 258.52 472.55 Td (est) Tj ET Q q 0 0 0 rg BT 274.49 472.55 Td (s website \() Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 323.68 472.55 Td (www) Tj ET Q q 0 0 0 rg BT 345.84 472.55 Td (.pinnaclewest.com\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 434.62 472.55 Td (. Pinnacle) Tj ET Q q 0 0 0 rg BT 485.51 472.55 Td (W) Tj ET Q q 0 0 0 rg BT 495.45 472.55 Td (est intends to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.75 Td (satisfy the requirements under Item5.05 of Form8-K regarding disclosure of amendments to, or waivers from, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 444.95 Td (provisions of the Code of Ethics for Financial Executives by posting such information on Pinnacle ) Tj ET Q q 0 0 0 rg BT 505.07 444.95 Td (W) Tj ET Q q 0 0 0 rg BT 515.00 444.95 Td (est) Tj ET Q q 0 0 0 rg BT 530.97 444.95 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.15 Td (website.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.35 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 196.65 403.55 Td (ITEM 1) Tj ET Q q 0 0 0 rg BT 235.31 403.55 Td (1. EXECUTIVE COMPENSA) Tj ET Q q 0 0 0 rg BT 385.89 403.55 Td (TION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 389.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 375.95 Td (Reference is hereby made to Directors) Tj ET Q q 0 0 0 rg BT 270.16 375.95 Td ( Compensation, Report of the Human Resources ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.15 Td (Committee, Executive Compensation, and Human Resources Committee Interlocks and Insider ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.35 Td (Participation in the 2015 Proxy Statement.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.55 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 203.50 320.75 Td (ITEM 12. SECURITY) Tj ET Q q 0 0 0 rg BT 316.18 320.75 Td ( OWNERSHIP) Tj ET Q q 0 0 0 rg BT 389.99 320.75 Td ( OF) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 157.80 306.95 Td (CER) Tj ET Q q 0 0 0 rg BT 181.68 306.95 Td (T) Tj ET Q q 0 0 0 rg BT 188.49 306.95 Td (AIN BENEFICIAL) Tj ET Q q 0 0 0 rg BT 283.39 306.95 Td ( OWNERS ) Tj ET Q q 0 0 0 rg BT 339.63 306.95 Td (AND MANAGEMENT) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 188.90 293.15 Td (AND RELA) Tj ET Q q 0 0 0 rg BT 247.79 293.15 Td (TED ST) Tj ET Q q 0 0 0 rg BT 288.17 293.15 Td (OCKHOLDER MA) Tj ET Q q 0 0 0 rg BT 385.39 293.15 Td (TTERS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 279.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.55 Td (Reference is hereby made to Ownership of Pinnacle ) Tj ET Q q 0 0 0 rg BT 332.45 265.55 Td (W) Tj ET Q q 0 0 0 rg BT 342.39 265.55 Td (est Stock in the 2015 Proxy Statement.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 237.95 Td (Securities ) Tj ET Q q 0 0 0 rg BT 135.65 237.95 Td (Authorized for) Tj ET Q q 0 0 0 rg BT 208.58 237.95 Td ( Issuance Under) Tj ET Q q 0 0 0 rg BT 287.60 237.95 Td ( Equity Compensation Plans) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 210.35 Td (The following table sets forth information as of December31, 2014 with respect to the 2012 Plan and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.55 Td (the 2007 Plan, under which our equity securities are outstanding or currently authorized for issuance.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 339 0 obj <>] /Rotate 0 /Contents 340 0 R>> endobj 340 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (166) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 211.55 734.75 Td (Equity Compensation Plan Information) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 638.25 264.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 638.25 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 638.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 638.25 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 638.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 638.25 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 610.25 264.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 610.25 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 610.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 610.25 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 610.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 610.25 80.00 -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 50 638.25 m 314 638.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 638.25 m 394 638.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 638.25 m 478 638.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 638.25 m 562 638.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 610.25 m 394 610.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 610.25 m 478 610.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 610.25 m 562 610.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 597.25 m 394 597.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 595.25 m 394 595.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 610.25 m 478 610.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 597.25 m 478 597.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 595.25 m 478 595.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 610.25 m 562 610.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 597.25 m 562 597.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 595.25 m 562 595.25 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 642.48 Td (PlanCategory) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 335.00 700.43 Td (Number) Tj ET Q q 0 0 0 rg BT 363.30 700.43 Td (of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.15 692.43 Td (securitiestobe) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.35 684.43 Td (issuedupon) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 335.65 676.43 Td (exer) Tj ET Q q 0 0 0 rg BT 350.16 676.43 Td (ciseof) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.25 668.43 Td (outstanding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 323.45 660.43 Td (options,warrants) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.05 652.43 Td (andrights) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.55 642.92 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.05 642.92 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.90 700.43 Td (W) Tj ET Q q 0 0 0 rg BT 427.46 700.43 Td (eighted-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.15 692.43 Td (average ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.35 684.43 Td (exer) Tj ET Q q 0 0 0 rg BT 428.86 684.43 Td (ciseprice) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.90 676.43 Td (ofoutstanding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.05 668.43 Td (options,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.45 660.43 Td (warrantsand) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.50 652.43 Td (rights) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.35 642.92 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.85 642.92 Td (\(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 503.00 716.33 Td (Number) Tj ET Q q 0 0 0 rg BT 531.30 716.33 Td (of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.00 708.33 Td (securitiesr) Tj ET Q q 0 0 0 rg BT 524.39 708.33 Td (emaining) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.50 700.33 Td (availablefor) Tj ET Q q 0 0 0 rg BT 531.24 700.33 Td (futur) Tj ET Q q 0 0 0 rg BT 550.87 700.33 Td (e) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.10 692.33 Td (issuanceunder) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.80 684.33 Td (equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.80 676.33 Td (compensationplans) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 503.70 668.33 Td (\(excluding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.70 660.33 Td (securitiesr) Tj ET Q q 0 0 0 rg BT 527.09 660.33 Td (eflected) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.50 652.33 Td (incolumn\(a\)\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.80 642.82 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 518.30 642.82 Td (\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 628.82 Td (Equity compensation plans approved by security holders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 628.82 Td (1,661,797) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 628.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 628.82 Td (3,103,760) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 614.82 Td (Equity compensation plans not approved by security holders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 614.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 614.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 614.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 600.93 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 600.82 Td (1,661,797) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 600.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 600.82 Td (3,103,760) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.35 Td (\(a\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.26 555.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.26 555.35 Td ( ) Tj ET Q q 0 0 0 rg BT 124.93 555.35 Td (This amount includes shares subject to outstanding performance share awards and restricted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.55 Td (stock unit awards at the maximum amount of shares issuable under such awards. However) Tj ET Q q 0 0 0 rg BT 467.73 541.55 Td (, payout of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.75 Td (performance share awards is contingent on the Company reaching certain levels of performance during a three-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 513.95 Td (year performance period. If the performance criteria for these awards are not fully satisfied, the award ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.15 Td (recipient will receive less than the maximum number of shares available under these grants and may receive ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.35 Td (nothing from these grants.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 472.55 Td (\(b\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.91 472.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.91 472.55 Td ( ) Tj ET Q q 0 0 0 rg BT 125.58 472.55 Td (The weighted-average exercise price in this column does not take performance share awards ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 458.75 Td (or restricted stock unit awards into account, as those awards have no exercise price.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 444.95 Td (\(c\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.26 444.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 123.01 444.95 Td ( ) Tj ET Q q 0 0 0 rg BT 125.25 444.95 Td (A) Tj ET Q q 0 0 0 rg BT 132.50 444.95 Td (wards under the 2012 Plan can take the form of options, stock appreciation rights, restricted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.15 Td (stock, performance shares, performance share units, performance cash, stock grants, stock units, dividend ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.35 Td (equivalents, and restricted stock units. ) Tj ET Q q 0 0 0 rg BT 230.27 417.35 Td (Additional shares cannot be awarded under the 2007 Plan. However) Tj ET Q q 0 0 0 rg BT 545.65 417.35 Td (, if ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.55 Td (an award under the 2012 Plan or an award that was outstanding under the 2007 Plan on or after December31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 389.75 Td (201) Tj ET Q q 0 0 0 rg BT 66.32 389.75 Td (1 is forfeited, terminated or cancelled or expires, the shares subject to such award, to the extent of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 375.95 Td (forfeiture, termination, cancellation or expiration, may be added back to the shares available for issuance under ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.15 Td (the 2012 Plan.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 348.35 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 334.55 Td (Equity Compensation Plans ) Tj ET Q q 0 0 0 rg BT 188.50 334.55 Td (Appr) Tj ET Q q 0 0 0 rg BT 214.49 334.55 Td (oved By Security Holders) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 306.95 Td (Amounts in column \(a\)in the table above include shares subject to awards outstanding under two ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.15 Td (equity compensation plans that were previously approved by our shareholders: \(a\)the 2007 Plan, which was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.35 Td (approved by our shareholders at our 2007 annual meeting of shareholders and under which no new stock ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.55 Td (awards may be granted; and \(b\)the 2012 Plan, which was approved by our shareholders at our 2012 annual ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.75 Td (meeting of shareholders. See Note 15 of the Notes to Consolidated Financial Statements for additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.95 Td (information regarding these plans.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 224.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 210.35 Td (Equity Compensation Plans Not ) Tj ET Q q 0 0 0 rg BT 209.26 210.35 Td (Appr) Tj ET Q q 0 0 0 rg BT 235.25 210.35 Td (oved by Security Holders) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 182.75 Td (The Company does not have any equity compensation plans under which shares can be issued that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 168.95 Td (have not been approved by the shareholders.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 162.55 127.55 Td (ITEM 13. CER) Tj ET Q q 0 0 0 rg BT 240.10 127.55 Td (T) Tj ET Q q 0 0 0 rg BT 246.91 127.55 Td (AIN RELA) Tj ET Q q 0 0 0 rg BT 301.97 127.55 Td (TIONSHIPS ) Tj ET Q q 0 0 0 rg BT 366.85 127.55 Td (AND RELA) Tj ET Q q 0 0 0 rg BT 425.74 127.55 Td (TED) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 165.50 113.75 Td (TRANSACTIONS, ) Tj ET Q q 0 0 0 rg BT 262.00 113.75 Td (AND DIRECT) Tj ET Q q 0 0 0 rg BT 334.32 113.75 Td (OR INDEPENDENCE) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 99.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 86.15 Td (Reference is hereby made to Information ) Tj ET Q q 0 0 0 rg BT 281.56 86.15 Td (About Our Board and Corporate Governance and Related ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.35 Td (Party ) Tj ET Q q 0 0 0 rg BT 76.44 72.35 Td (T) Tj ET Q q 0 0 0 rg BT 83.06 72.35 Td (ransactions in the 2015 Proxy Statement.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 341 0 obj <>] /Rotate 0 /Contents 342 0 R>> endobj 342 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (167) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 206.15 720.75 Td (ITEM 14. PRINCIP) Tj ET Q q 0 0 0 rg BT 306.88 720.75 Td (AL) Tj ET Q q 0 0 0 rg BT 322.23 720.75 Td ( ) Tj ET Q q 0 0 0 rg BT 324.47 720.75 Td (ACCOUNT) Tj ET Q q 0 0 0 rg BT 381.75 720.75 Td (ANT) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 248.00 706.95 Td (FEES ) Tj ET Q q 0 0 0 rg BT 279.00 706.95 Td (AND SER) Tj ET Q q 0 0 0 rg BT 328.76 706.95 Td (VICES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 693.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 679.35 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 94.33 679.35 Td (W) Tj ET Q q 0 0 0 rg BT 105.20 679.35 Td (est) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 95.50 651.75 Td (Reference is hereby made to Accounting and ) Tj ET Q q 0 0 0 rg BT 309.77 651.75 Td (Auditing Matters ) Tj ET Q q 0 0 0 rg BT 405.28 651.75 Td (Audit Fees and Pre-Approval ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (Policies in the 2015 Proxy Statement.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 610.35 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 582.75 Td (The following fees were paid to ) Tj ET Q q 0 0 0 rg BT 234.32 582.75 Td (APS) Tj ET Q q 0 0 0 rg BT 258.61 582.75 Td (s independent registered public accountants, Deloitte& ) Tj ET Q q 0 0 0 rg BT 516.44 582.75 Td (T) Tj ET Q q 0 0 0 rg BT 522.66 582.75 Td (ouche ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (LLP) Tj ET Q q 0 0 0 rg BT 68.67 568.95 Td (, for the last two fiscal years:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 532.65 312.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 532.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 532.65 87.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 532.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 532.65 87.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 504.65 312.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 504.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 504.65 87.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 504.65 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 504.65 87.00 -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 50 532.65 m 362 532.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 532.65 m 453 532.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 532.65 m 544 532.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 532.65 m 453 532.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 532.65 m 544 532.65 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 536.73 Td (TypeofService) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 536.73 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.00 536.73 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 523.22 Td (Audit Fees \(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.50 523.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.15 523.22 Td (1,859,270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.50 523.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.15 523.22 Td (2,062,685) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 509.22 Td (Audit-Related Fees \(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 509.22 Td (189,990) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.65 509.22 Td (212,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 495.22 Td (Tax Fees \(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 495.22 Td (28,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 495.22 Td (8,857) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 463.55 Td (\(1\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.91 463.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.91 463.55 Td ( ) Tj ET Q q 0 0 0 rg BT 125.58 463.55 Td (The aggregate fees billed for services rendered for the audit of annual financial statements and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.75 Td (for review of financial statements included in Reports on Form10-Q.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 435.95 Td (\(2\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.91 435.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.91 435.95 Td ( ) Tj ET Q q 0 0 0 rg BT 125.58 435.95 Td (The aggregate fees billed for assurance services that are reasonably related to the performance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.15 Td (of the audit or review of the financial statements that are not included in ) Tj ET Q q 0 0 0 rg BT 383.54 422.15 Td (Audit Fees reported above, which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.35 Td (primarily consist of fees for employee benefit plan audits performed in 2014 and 2013.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 394.55 Td (\(3\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.91 394.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.91 394.55 Td ( ) Tj ET Q q 0 0 0 rg BT 125.58 394.55 Td (The aggregate fees billed primarily related to tax compliance and tax planning.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 380.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 366.95 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 366.95 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 366.95 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 366.95 Td (s ) Tj ET Q q 0 0 0 rg BT 160.39 366.95 Td (Audit Committee pre-approves each audit service and non-audit service to be provided ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.15 Td (by ) Tj ET Q q 0 0 0 rg BT 63.24 353.15 Td (APS) Tj ET Q q 0 0 0 rg BT 87.53 353.15 Td (s registered public accounting firm. ) Tj ET Q q 0 0 0 rg BT 256.26 353.15 Td (The ) Tj ET Q q 0 0 0 rg BT 276.38 353.15 Td (Audit Committee has delegated to the Chair of the ) Tj ET Q q 0 0 0 rg BT 510.49 353.15 Td (Audit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.35 Td (Committee the authority to pre-approve audit and non-audit services to be performed by the independent ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.55 Td (public accountants if the services are not expected to cost more than $50,000. ) Tj ET Q q 0 0 0 rg BT 411.43 325.55 Td (The Chair must report any pre-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.75 Td (approval decisions to the ) Tj ET Q q 0 0 0 rg BT 166.40 311.75 Td (Audit Committee at its next scheduled meeting. ) Tj ET Q q 0 0 0 rg BT 390.93 311.75 Td (All of the services performed by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 297.95 Td (Deloitte& ) Tj ET Q q 0 0 0 rg BT 101.03 297.95 Td (T) Tj ET Q q 0 0 0 rg BT 107.25 297.95 Td (ouche LLP) Tj ET Q q 0 0 0 rg BT 157.61 297.95 Td ( for ) Tj ET Q q 0 0 0 rg BT 176.13 297.95 Td (APS in 2014 were pre-approved by the ) Tj ET Q q 0 0 0 rg BT 357.86 297.95 Td (Audit Committee or the Chair of the ) Tj ET Q q 0 0 0 rg BT 527.46 297.95 Td (Audit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.15 Td (Committee consistent with the pre-approval policy) Tj ET Q q 0 0 0 rg BT 282.22 284.15 Td (.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 343 0 obj <>] /Rotate 0 /Contents 344 0 R>> endobj 344 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (168) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 283.35 734.75 Td (P) Tj ET Q q 0 0 0 rg BT 289.52 734.75 Td (AR) Tj ET Q q 0 0 0 rg BT 305.73 734.75 Td (T) Tj ET Q q 0 0 0 rg BT 313.19 734.75 Td (IV) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 720.95 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 131.20 693.35 Td (ITEM 15. EXHIBITS ) Tj ET Q q 0 0 0 rg BT 242.72 693.35 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 335.05 693.35 Td ( ST) Tj ET Q q 0 0 0 rg BT 351.14 693.35 Td (A) Tj ET Q q 0 0 0 rg BT 358.59 693.35 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 408.22 693.35 Td ( SCHEDULES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 679.55 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 665.75 Td (Financial Statements and Financial Statement Schedules) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 638.15 Td (See the Index to Financial Statements and Financial Statement Schedule in PartII,Item 8.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.35 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (Exhibits Filed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 582.95 Td (The documents listed below are being filed or have previously been filed on behalf of Pinnacle ) Tj ET Q q 0 0 0 rg BT 524.72 582.95 Td (W) Tj ET Q q 0 0 0 rg BT 534.65 582.95 Td (est or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.15 Td (APS and are incorporated herein by reference from the documents indicated and made a part hereof. Exhibits ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.35 Td (not identified as previously filed are filed herewith.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 522.28 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 514.28 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 512.77 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 124.75 514.28 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 187.50 512.77 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.70 514.28 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.05 514.28 Td (Pr) Tj ET Q q 0 0 0 rg BT 385.34 514.28 Td (eviouslyFiledasExhibit:) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 473.35 514.28 Td (a) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 507.50 512.77 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.80 514.28 Td (Date Filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 496.62 Td (3.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 473.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 496.62 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 473.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 496.62 Td (Articles of Incorporation, restated as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 486.62 Td (of May21, 2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 496.62 Td (3.1 to Pinnacle West/APS June30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 486.62 Td (2008 Form10-Q Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 476.62 Td (No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 473.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 496.62 Td (8/7/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 457.62 Td (3.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 434.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 457.62 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 434.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 457.62 Td (Pinnacle West Capital Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 447.62 Td (Bylaws, amended as of May19,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 437.62 Td (2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 457.62 Td (3.1 to Pinnacle West/APS June30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 447.62 Td (2010 Form10-Q Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 437.62 Td (No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 434.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 457.62 Td (8/3/2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 418.62 Td (3.3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 385.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 418.62 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 385.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 418.62 Td (Articles of Incorporation, restated as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 408.62 Td (of May25, 1988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 418.62 Td (4.2 to APSs Form18 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 408.62 Td (Nos. 33-33910 and 33-55248 by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 398.62 Td (means of September24, 1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 388.62 Td (Form8-K Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 385.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 418.62 Td (9/29/1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 369.62 Td (3.3.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 336.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 369.62 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 336.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 369.62 Td (Amendment to the Articles of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 359.62 Td (Incorporation of Arizona Public) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 349.62 Td (Service Company, amended May16,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 339.62 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 369.62 Td (3.1 to Pinnacle West/APS May22,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 359.62 Td (2012 Form8-K Report, File Nos.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 349.62 Td (1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 336.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 369.62 Td (5/22/2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 320.62 Td (3.4) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 297.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 320.62 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 297.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 320.62 Td (Arizona Public Service Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 310.62 Td (Bylaws, amended as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 300.62 Td (December16, 2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 320.62 Td (3.4 to Pinnacle West/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 310.62 Td (December31, 2008 Form10-K, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 300.62 Td (No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 297.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 320.62 Td (2/20/2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 281.62 Td (4.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 258.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 281.62 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 258.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 281.62 Td (Specimen Certificate of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 271.62 Td (PinnacleWest Capital Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 261.62 Td (Common Stock, no par value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 281.62 Td (4.1 to Pinnacle West June28, 2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 271.62 Td (Form8-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 258.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.40 281.62 Td (6/28/2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 242.62 Td (4.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 209.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 242.62 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 242.62 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 242.62 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 232.62 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 209.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 242.62 Td (Indenture dated as of January1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 232.62 Td (1995 among APS and The Bank of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 222.62 Td (New York Mellon, as Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 242.62 Td (4.6 to APSs Registration Statement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 232.62 Td (Nos. 33-61228 and 33-55473 by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 222.62 Td (means of January1, 1995 Form8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 212.62 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 209.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.40 242.62 Td (1/11/1995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 193.62 Td (4.2a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 160.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 193.62 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 193.62 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 193.62 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 183.62 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 160.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 193.62 Td (First Supplemental Indenture dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 183.62 Td (as of January1, 1995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 193.62 Td (4.4 to APSs Registration Statement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 183.62 Td (Nos. 33-61228 and 33-55473 by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 173.62 Td (means of January1, 1995 Form8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 163.62 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 160.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.40 193.62 Td (1/11/1995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 144.62 Td (4.3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 101.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 144.62 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 144.62 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 144.62 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 134.62 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 101.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 144.62 Td (Indenture dated as of November15,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 134.62 Td (1996 between APS and The Bank of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 124.62 Td (New York, as Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 144.62 Td (4.5 to APSs Registration Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 134.62 Td (Nos. 33-61228, 33-55473, 33-64455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 124.62 Td (and 333- 15379 by means of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 114.62 Td (November19, 1996 Form8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 104.62 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 101.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.90 144.62 Td (11/22/1996) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 345 0 obj <>] /Rotate 0 /Contents 346 0 R>> endobj 346 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (169) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 733.23 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 725.23 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 124.75 725.23 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 187.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.70 725.23 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.05 725.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 385.34 725.23 Td (eviouslyFiledasExhibit:) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 473.35 725.23 Td (a) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 507.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.80 725.23 Td (Date Filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 711.57 Td (4.3a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 668.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 711.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 711.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 711.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 701.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 668.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 711.57 Td (First Supplemental Indenture dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 701.57 Td (as of November15, 1996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 711.57 Td (4.6 to APSs Registration Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 701.57 Td (Nos. 33-61228, 33-55473, 33-64455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 691.57 Td (and 333-15379 by means of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 681.57 Td (November19, 1996 Form8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 671.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 668.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.90 711.57 Td (11/22/1996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 652.57 Td (4.3b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 609.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 652.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 652.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 652.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 642.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 609.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 652.57 Td (Second Supplemental Indenture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 642.57 Td (dated as of April1, 1997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 652.57 Td (4.10 to APSs Registration Statement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 642.57 Td (Nos. 33-55473, 33-64455 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 632.57 Td (333-15379 by means of April7,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 622.57 Td (1997 Form8-K Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 612.57 Td (No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 609.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 652.57 Td (4/9/1997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 593.57 Td (4.3c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 570.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 593.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 593.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 593.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 583.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 570.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 593.57 Td (Third Supplemental Indenture dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 583.57 Td (as of November1, 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 593.57 Td (10.2 to Pinnacle Wests March31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 583.57 Td (2003 Form10-Q Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 573.57 Td (No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 570.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 593.57 Td (5/15/2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 554.57 Td (4.4) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 511.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 554.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 511.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 554.57 Td (Indenture dated as of December1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 544.57 Td (2000 between the Company and The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 534.57 Td (Bank of New York, as Trustee,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 524.57 Td (relating to Senior Unsecured Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 514.57 Td (Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 554.57 Td (4.1 to Pinnacle Wests Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 544.57 Td (Statement No.333-52476) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 511.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.70 554.57 Td (12/21/2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 495.57 Td (4.5) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 452.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 495.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 452.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 495.57 Td (Indenture dated as of December1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 485.57 Td (2000 between the Company and The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 475.57 Td (Bank of New York, as Trustee,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 465.57 Td (relating to Subordinated Unsecured) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 455.57 Td (Debt Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 495.57 Td (4.2 to Pinnacle Wests Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 485.57 Td (Statement No.333-52476) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 452.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.70 495.57 Td (12/21/2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 436.57 Td (4.6) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 383.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 436.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 436.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 436.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 426.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 383.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 436.57 Td (Indenture dated as of January15,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 426.57 Td (1998 between APS and The Bank of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 416.57 Td (New York Mellon Trust Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 406.57 Td (N.A. \(successor to JPMorgan Chase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 396.57 Td (Bank, N.A., formerly known as The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 386.57 Td (Chase Manhattan Bank\), as Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 436.57 Td (4.10 to APSs Registration Statement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 426.57 Td (Nos. 333-15379 and 333-27551 by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 416.57 Td (means of January13, 1998 Form8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 406.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 383.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 436.57 Td (1/16/1998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 367.57 Td (4.6a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 334.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 367.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 367.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 367.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 357.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 334.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 367.57 Td (Seventh Supplemental Indenture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 357.57 Td (dated as of May1, 2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 367.57 Td (4.1 to APSs Registration Statement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 357.57 Td (No.333-90824 by means of May7,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 347.57 Td (2003 Form8-K Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 337.57 Td (No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 334.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 367.57 Td (5/9/2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 318.57 Td (4.6b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 285.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 318.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 318.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 318.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 308.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 285.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 318.57 Td (Eighth Supplemental Indenture dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 308.57 Td (as of June15, 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 318.57 Td (4.1 to APSs Registration Statement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 308.57 Td (No.333-106772 by means of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 298.57 Td (June24, 2004 Form8-K Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 288.57 Td (No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 285.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 318.57 Td (6/28/2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 269.57 Td (4.6c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 236.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 269.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 269.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 269.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 259.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 236.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 269.57 Td (Ninth Supplemental Indenture dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 259.57 Td (as of August15, 2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 269.57 Td (4.1 to APSs Registration Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 259.57 Td (Nos. 333-106772 and 333-121512 by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 249.57 Td (means of August17, 2005 Form8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 239.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 236.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 269.57 Td (8/22/2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 220.57 Td (4.6d) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 207.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 220.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 207.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 220.57 Td (Tenth Supplemental Indenture dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 210.57 Td (as of August1, 2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 220.57 Td (4.1 to APSs July31, 2006 Form8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 210.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 207.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 220.57 Td (8/3/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 191.57 Td (4.6e) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 168.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 191.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 191.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 191.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 181.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 168.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 191.57 Td (Eleventh Supplemental Indenture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 181.57 Td (dated as of February26, 2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 152.57 Td (4.6f) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 129.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 152.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 152.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 152.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 142.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 129.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 152.57 Td (Twelfth Supplemental Indenture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 142.57 Td (dated as of August25, 2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 113.57 Td (4.6g) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 90.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 113.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 113.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 113.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 103.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 90.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 113.57 Td (Thirteenth Supplemental Indenture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 103.57 Td (dated as of January13, 2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 74.57 Td (4.6h) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 51.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 74.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 74.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 74.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 64.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 51.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 74.57 Td (Fourteenth Supplemental Indenture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 64.57 Td (dated as of January10, 2014) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 347 0 obj <>] /Rotate 0 /Contents 348 0 R>> endobj 348 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (170) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 733.23 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 725.23 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 124.75 725.23 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 187.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.70 725.23 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.05 725.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 385.34 725.23 Td (eviouslyFiledasExhibit:) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 473.35 725.23 Td (a) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 507.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.80 725.23 Td (Date Filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 707.57 Td (4.6i) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 684.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 707.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 707.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 707.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 697.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 684.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 707.57 Td (Fifteenth Supplemental Indenture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 697.57 Td (dated as of June18, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 668.57 Td (4.6j) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 645.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 668.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 668.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 668.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 658.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 645.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 668.57 Td (Sixteenth Supplemental Indenture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 658.57 Td (dated as of January 12, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 629.57 Td (4.7) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 596.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 629.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 596.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 629.57 Td (Second Amended and Restated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 619.57 Td (PinnacleWest Capital Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 609.57 Td (Investors Advantage Plan dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 599.57 Td (June23, 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 629.57 Td (4.4 to Pinnacle Wests June23, 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 619.57 Td (Form8-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 596.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 629.57 Td (8/9/2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 580.57 Td (4.7a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 547.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 580.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 547.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 580.57 Td (Third Amended and Restated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 570.57 Td (Pinnacle West Capital Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 560.57 Td (Investors Advantage Plan dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 550.57 Td (November25, 2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 580.57 Td (4.1 to Pinnacle Wests FormS-3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 570.57 Td (Registration Statement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 560.57 Td (No.333-155641, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 547.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.90 580.57 Td (11/25/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 531.57 Td (4.8) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 488.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 531.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 488.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 531.57 Td (Agreement, dated March29, 1988,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 521.57 Td (relating to the filing of instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 511.57 Td (defining the rights of holders of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 501.57 Td (long-term debt not in excess of 10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 491.57 Td (of the Companys total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 531.57 Td (4.1 to Pinnacle Wests 1987) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 521.57 Td (Form10-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 488.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 531.57 Td (3/30/1988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 472.57 Td (4.8a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 429.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 472.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 472.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 472.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 462.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 429.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 472.57 Td (Agreement, dated March21, 1994,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 462.57 Td (relating to the filing of instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 452.57 Td (defining the rights of holders of APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 442.57 Td (long-term debt not in excess of 10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 432.57 Td (of APSs total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 472.57 Td (4.1 to APSs 1993 Form10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 462.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 429.76 Td () Tj ET Q BT /F1 10.00 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 413.57 Td (10.2 to APSs September30, 1991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 403.57 Td (Form10-Q Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 360.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.90 413.57 Td (11/14/1991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 344.57 Td (10.1.1a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 311.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 344.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 344.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 344.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 334.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 311.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 344.57 Td (Amendment No.1 to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 334.57 Td (Decommissioning Trust Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 324.57 Td (\(PVNGS Unit 1\), dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 314.57 Td (December1, 1994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 344.57 Td (10.1 to APSs 1994 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 334.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 311.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 344.57 Td (3/30/1995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 295.57 Td (10.1.1b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 262.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 295.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 295.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 295.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 285.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 262.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 295.57 Td (Amendment No.1 to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 285.57 Td (Decommissioning Trust Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 275.57 Td (\(PVNGS Unit 3\), dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 265.57 Td (December1, 1994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 295.57 Td (10.2 to APSs 1994 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 285.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 262.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 295.57 Td (3/30/1995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 246.57 Td (10.1.1c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 213.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 246.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 246.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 246.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 236.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 213.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 246.57 Td (Amendment No.2 to APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 236.57 Td (Decommissioning Trust Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 226.57 Td (\(PVNGS Unit 1\) dated as of July1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 216.57 Td (1991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 246.57 Td (10.4 to APSs 1996 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 236.57 Td (Report , File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 213.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 246.57 Td (3/28/1997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 197.57 Td (10.1.1d) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 164.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 197.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 197.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 197.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 187.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 164.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 197.57 Td (Amendment No.2 to APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 187.57 Td (Decommissioning Trust Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 177.57 Td (\(PVNGS Unit 3\) dated as of July1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 167.57 Td (1991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 197.57 Td (10.6 to APSs 1996 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 187.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 164.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 197.57 Td (3/28/1997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 148.57 Td (10.1.1e) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 115.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 148.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 148.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 148.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 138.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 115.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 148.57 Td (Amendment No.3 to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 138.57 Td (Decommissioning Trust Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 128.57 Td (\(PVNGS Unit 1\), dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 118.57 Td (March18, 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 148.57 Td (10.2 to Pinnacle Wests March31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 138.57 Td (2002 Form10-Q Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 128.57 Td (No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 115.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 148.57 Td (5/15/2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 99.57 Td (10.1.1f) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 66.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 99.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 99.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 99.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 89.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 66.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 99.57 Td (Amendment No.3 to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 89.57 Td (Decommissioning Trust Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 79.57 Td (\(PVNGS Unit 3\), dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 69.57 Td (March18, 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 99.57 Td (10.4 to Pinnacle Wests March2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 89.57 Td (Form10-Q Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 66.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 99.57 Td (5/15/2002) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 349 0 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118.75 711.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 711.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 711.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 701.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 678.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 711.57 Td (Amendment No.4 to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 701.57 Td (Decommissioning Trust Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 691.57 Td (\(PVNGS Unit1\), dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 681.57 Td (December19, 2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 711.57 Td (10.3 to Pinnacle Wests 2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 701.57 Td (Form10-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 678.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 711.57 Td (3/15/2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 662.57 Td (10.1.1h) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 629.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 662.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 662.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 662.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 652.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 629.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 662.57 Td (Amendment No.4 to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 652.57 Td (Decommissioning Trust Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 642.57 Td (\(PVNGS Unit3\), dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 632.57 Td (December19, 2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 662.57 Td (10.5 to Pinnacle Wests 2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 652.57 Td (Form10-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 629.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 662.57 Td (3/15/2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 613.57 Td (10.1.1i) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 580.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 613.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 613.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 613.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 603.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 580.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 613.57 Td (Amendment No.5 to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 603.57 Td (Decommissioning Trust Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 593.57 Td (\(PVNGS Unit1\), dated as of May1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 583.57 Td (2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 613.57 Td (10.1 to Pinnacle West/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 603.57 Td (March31, 2007 Form10-Q Report,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 593.57 Td (File Nos. 1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 580.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 613.57 Td (5/9/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 564.57 Td (10.1.1j) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 531.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 564.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 564.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 564.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 554.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 531.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 564.57 Td (Amendment No.5 to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 554.57 Td (Decommissioning Trust Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 544.57 Td (\(PVNGS Unit3\), dated as of May1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 534.57 Td (2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 564.57 Td (10.2 to Pinnacle West/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 554.57 Td (March31, 2007 Form10-Q Report,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 544.57 Td (File Nos. 1-8962 and 104473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 531.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 564.57 Td (5/9/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 515.57 Td (10.1.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 382.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 515.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 515.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 515.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 505.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 382.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 515.57 Td (Amended and Restated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 505.57 Td (Decommissioning Trust Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 495.57 Td (\(PVNGS Unit 2\) dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 485.57 Td (January31, 1992, among APS,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 475.57 Td (Mellon Bank, N.A., as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 465.57 Td (Decommissioning Trustee, and State) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 455.57 Td (Street Bank and Trust Company, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 445.57 Td (successor to The First National Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 435.57 Td (of Boston, as Owner Trustee under) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 425.57 Td (two separate Trust Agreements, each) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 415.57 Td (with a separate Equity Participant,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 405.57 Td (and as Lessor under two separate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 395.57 Td (Facility Leases, each relating to an) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 385.57 Td (undivided interest in PVNGS Unit 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 515.57 Td (10.1 to Pinnacle Wests 1991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 505.57 Td (Form10-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 382.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 515.57 Td (3/26/1992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 366.57 Td (10.1.2a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 333.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 366.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 366.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 366.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 356.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 333.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 366.57 Td (First Amendment to Amended and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 356.57 Td (Restated Decommissioning Trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 346.57 Td (Agreement \(PVNGS Unit 2\), dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 336.57 Td (as of November1, 1992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 366.57 Td (10.2 to APSs 1992 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 356.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 333.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 366.57 Td (3/30/1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 317.57 Td (10.1.2b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 284.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 317.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 317.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 317.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 307.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 284.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 317.57 Td (Amendment No.2 to Amended and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 307.57 Td (Restated Decommissioning Trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 297.57 Td (Agreement \(PVNGS Unit 2\), dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 287.57 Td (as of November1, 1994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 317.57 Td (10.3 to APSs 1994 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 307.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 284.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 317.57 Td (3/30/1995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 268.57 Td (10.1.2c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 235.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 268.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 268.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 268.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 258.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 235.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 268.57 Td (Amendment No.3 to Amended and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 258.57 Td (Restated Decommissioning Trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 248.57 Td (Agreement \(PVNGS Unit 2\), dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 238.57 Td (as of June20, 1996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 268.57 Td (10.1 to APSs June30, 1996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 258.57 Td (Form10-Q Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 235.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 268.57 Td (8/9/1996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 219.57 Td (10.1.2d) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 186.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 219.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 219.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 219.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 209.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 186.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 219.57 Td (Amendment No.4 to Amended and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 209.57 Td (Restated Decommissioning Trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 199.57 Td (Agreement \(PVNGS Unit 2\) dated as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 189.57 Td (of December16, 1996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 219.57 Td (APS 10.5 to APSs 1996 Form10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 209.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 186.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 219.57 Td (3/28/1997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 170.57 Td (10.1.2e) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 137.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 170.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 170.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 170.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 160.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 137.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 170.57 Td (Amendment No.5 to the Amended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 160.57 Td (and Restated Decommissioning Trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 150.57 Td (Agreement \(PVNGS Unit 2\), dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 140.57 Td (as of June30, 2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 170.57 Td (10.1 to Pinnacle Wests March31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 160.57 Td (2002 Form10-Q Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 150.57 Td (No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 137.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 170.57 Td (5/15/2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 121.57 Td (10.1.2f) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 88.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 121.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 121.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 121.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 111.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 88.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 121.57 Td (Amendment No.6 to the Amended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 111.57 Td (and Restated Decommissioning Trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 101.57 Td (Agreement \(PVNGS Unit2\), dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 91.57 Td (as of March18, 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 121.57 Td (10.3 to Pinnacle Wests March31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 111.57 Td (2002 Form10-Q Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 101.57 Td (No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 88.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 121.57 Td (5/15/2002) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 351 0 obj <>] /Rotate 0 /Contents 352 0 R>> endobj 352 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (172) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 733.23 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 725.23 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 124.75 725.23 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 187.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.70 725.23 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.05 725.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 385.34 725.23 Td (eviouslyFiledasExhibit:) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 473.35 725.23 Td (a) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 507.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.80 725.23 Td (Date Filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 711.57 Td (10.1.2g) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 678.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 711.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 711.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 711.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 701.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 678.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 711.57 Td (Amendment No.7 to the Amended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 701.57 Td (and Restated Decommissioning Trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 691.57 Td (Agreement \(PVNGS Unit2\), dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 681.57 Td (as of December19, 2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 711.57 Td (10.4 to Pinnacle Wests 2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 701.57 Td (Form10-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 678.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 711.57 Td (3/15/2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 662.57 Td (10.1.2h) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 629.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 662.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 662.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 662.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 652.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 629.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 662.57 Td (Amendment No.8 to the Amended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 652.57 Td (and Restated Decommissioning Trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 642.57 Td (Agreement \(PVNGS Unit2\), dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 632.57 Td (as of April1, 2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 662.57 Td (10.1.2h to Pinnacle Wests 2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 652.57 Td (Form10-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 629.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 662.57 Td (2/27/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 613.57 Td (10.2.1) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 616.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 550.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 613.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 613.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 613.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 603.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 550.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 613.57 Td (Arizona Public Service Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 603.57 Td (Deferred Compensation Plan, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 593.57 Td (restated, effective January1, 1984,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 583.57 Td (and the second and third) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 573.57 Td (amendments thereto, dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 563.57 Td (December22, 1986, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 553.57 Td (December23, 1987, respectively) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 613.57 Td (10.4 to APSs 1988 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 603.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 550.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 613.57 Td (3/8/1989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 534.57 Td (10.2.1a) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 537.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 501.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 534.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 534.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 534.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 524.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 501.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 534.57 Td (Third Amendment to the Arizona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 524.57 Td (Public Service Company Deferred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 514.57 Td (Compensation Plan, effective as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 504.57 Td (January1, 1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 534.57 Td (10.3A to APSs 1993 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 524.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 501.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 534.57 Td (3/30/1994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 485.57 Td (10.2.1b) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 82.50 488.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 452.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 485.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 485.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 485.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 475.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 452.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 485.57 Td (Fourth Amendment to the Arizona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 475.57 Td (Public Service Company Deferred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 465.57 Td (Compensation Plan effective as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 455.57 Td (May1, 1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 485.57 Td (10.2 to APSs September30, 1994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 475.57 Td (Form10-Q Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 452.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.90 485.57 Td (11/10/1994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 436.57 Td (10.2.1c) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 439.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 403.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 436.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 436.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 436.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 426.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 403.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 436.57 Td (Fifth Amendment to the Arizona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 426.57 Td (Public Service Company Deferred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 416.57 Td (Compensation Plan effective) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 406.57 Td (January1, 1997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 436.57 Td (10.3A to APSs 1996 Form10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 426.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 403.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 436.57 Td (3/28/1997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 387.57 Td (10.2.1d) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 82.50 390.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 354.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 387.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 387.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 387.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 377.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 354.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 387.57 Td (Sixth Amendment to the Arizona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 377.57 Td (Public Service Company Deferred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 367.57 Td (Compensation Plan effective) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 357.57 Td (January1, 2001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 387.57 Td (10.8A to Pinnacle Wests 2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 377.57 Td (Form10-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 354.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 387.57 Td (3/14/2001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 338.57 Td (10.2.2) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 341.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 305.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 338.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 338.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 338.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 328.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 305.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 338.57 Td (Arizona Public Service Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 328.57 Td (Directors Deferred Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 318.57 Td (Plan, as restated, effective January1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 308.57 Td (1986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 338.57 Td (10.1 to APSs June30, 1986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 328.57 Td (Form10-Q Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 305.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 338.57 Td (8/13/1986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 289.57 Td (10.2.2a) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 292.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 256.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 289.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 289.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 289.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 279.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 256.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 289.57 Td (Second Amendment to the Arizona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 279.57 Td (Public Service Company Directors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 269.57 Td (Deferred Compensation Plan,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 259.57 Td (effective as of January1, 1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 289.57 Td (10.2A to APSs 1993 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 279.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 256.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 289.57 Td (3/30/1994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 240.57 Td (10.2.2b) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 82.50 243.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 207.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 240.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 240.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 240.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 230.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 207.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 240.57 Td (Third Amendment to the Arizona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 230.57 Td (Public Service Company Directors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 220.57 Td (Deferred Compensation Plan,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 210.57 Td (effective as of May1, 1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 240.57 Td (10.1 to APSs September30, 1994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 230.57 Td (Form10-Q Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 207.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.90 240.57 Td (11/10/1994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 191.57 Td (10.2.2c) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 194.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 158.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 191.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 191.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 191.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 181.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 158.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 191.57 Td (Fourth Amendment to the Arizona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 181.57 Td (Public Service Company Directors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 171.57 Td (Deferred Compensation Plan,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 161.57 Td (effective as of January1, 1999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 191.57 Td (10.8A to Pinnacle Wests 1999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 181.57 Td (Form10-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 158.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 191.57 Td (3/30/2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 142.57 Td (10.2.3) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 145.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 99.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 142.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 142.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 142.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 132.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 99.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 142.57 Td (Trust for the Pinnacle West Capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 132.57 Td (Corporation, Arizona Public Service) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 122.57 Td (Company and SunCor Development) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 112.57 Td (Company Deferred Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 102.57 Td (Plans dated August1, 1996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 142.57 Td (10.14A to Pinnacle Wests 1999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 132.57 Td (Form10-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 99.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 142.57 Td (3/30/2000) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 353 0 obj <>] /Rotate 0 /Contents 354 0 R>> endobj 354 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (173) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 733.23 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 725.23 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 124.75 725.23 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 187.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.70 725.23 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.05 725.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 385.34 725.23 Td (eviouslyFiledasExhibit:) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 473.35 725.23 Td (a) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 507.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.80 725.23 Td (Date Filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 711.57 Td (10.2.3a) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 714.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 658.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 711.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 711.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 711.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 701.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 658.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 711.57 Td (First Amendment dated December7,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 701.57 Td (1999 to the Trust for the Pinnacle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 691.57 Td (West Capital Corporation, Arizona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 681.57 Td (Public Service Company and SunCor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 671.57 Td (Development Company Deferred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 661.57 Td (Compensation Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 711.57 Td (10.15A to Pinnacle Wests 1999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 701.57 Td (Form10-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 658.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 711.57 Td (3/30/2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 642.57 Td (10.2.4) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 645.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 579.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 642.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 642.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 642.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 632.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 579.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 642.57 Td (Pinnacle West Capital Corporation,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 632.57 Td (Arizona Public Service Company,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 622.57 Td (SunCor Development Company and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 612.57 Td (El Dorado Investment Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 602.57 Td (Deferred Compensation Plan as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 592.57 Td (amended and restated effective) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 582.57 Td (January1, 1996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 642.57 Td (10.10A to APSs 1995 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 632.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 579.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 642.57 Td (3/29/1996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 563.57 Td (10.2.4a) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 566.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 500.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 563.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 563.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 563.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 553.57 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 563.57 Td (First Amendment effective as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 553.57 Td (January 1, 1999, to the Pinnacle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 543.57 Td (West Capital Corporation, Arizona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 533.57 Td (Public Service Company, SunCor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 523.57 Td (Development Company and El) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 513.57 Td (Dorado Investment Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 503.57 Td (Deferred Compensation Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 563.57 Td (10.7A to Pinnacle Wests 1999 Form) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 553.57 Td (10-K Report, File No. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 563.57 Td (3/30/2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 484.57 Td (10.2.4b) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 82.50 487.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 419.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 484.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 484.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 484.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 474.57 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 484.57 Td (Second Amendment effective) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 474.57 Td (January 1, 2000 to the Pinnacle West) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 464.57 Td (Capital Corporation, Arizona Public) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 454.57 Td (Service Company, SunCor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 444.57 Td (Development Company and El) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 434.57 Td (Dorado Investment Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 424.57 Td (Deferred Compensation Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 484.57 Td (10.10A to Pinnacle Wests 1999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 474.57 Td (Form 10-K Report, File No. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 484.57 Td (3/30/2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 403.57 Td (10.2.4c) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 406.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 340.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 403.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 403.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 403.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 393.57 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 403.57 Td (Third Amendment to the Pinnacle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 393.57 Td (West Capital Corporation, Arizona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 383.57 Td (Public Service Company, SunCor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 373.57 Td (Development Company and El) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 363.57 Td (Dorado Investment Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 353.57 Td (Deferred Compensation Plan,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 343.57 Td (effective as of January 1, 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 403.57 Td (10.3 to Pinnacle Wests March 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 393.57 Td (2003 Form 10-Q Report, File No.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 383.57 Td (1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 403.57 Td (5/15/2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 324.57 Td (10.2.4d) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 82.50 327.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 261.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 324.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 324.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 324.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 314.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 261.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 324.57 Td (Fourth Amendment to the Pinnacle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 314.57 Td (West Capital Corporation, Arizona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 304.57 Td (Public Service Company, SunCor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 294.57 Td (Development Company and El) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 284.57 Td (Dorado Investment Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 274.57 Td (Deferred Compensation Plan,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 264.57 Td (effective January1, 2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 324.57 Td (10.64 to Pinnacle West/APS 2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 314.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 304.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 261.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 324.57 Td (3/13/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 245.57 Td (10.2.5) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 248.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 222.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 245.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 245.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 245.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 235.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 222.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 245.57 Td (Deferred Compensation Plan of 2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 235.57 Td (for Employees of PinnacleWest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 225.57 Td (Capital Corporation and Affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 245.57 Td (10.2.6 to Pinnacle West/APS 2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 235.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 225.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 222.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 245.57 Td (2/20/2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 206.57 Td (10.2.5a) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 209.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 173.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 206.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 206.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 206.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 196.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 173.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 206.57 Td (First Amendment to the Deferred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 196.57 Td (Compensation Plan of 2005 for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 186.57 Td (Employees of Pinnacle West Capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 176.57 Td (Corporation and Affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 206.57 Td (10.2.6a to Pinnacle West/APS 2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 196.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 186.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 173.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 206.57 Td (2/19/2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 157.57 Td (10.2.5b) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 82.50 160.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 124.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 157.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 157.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 157.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 147.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 124.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 157.57 Td (Second Amendment to the Deferred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 147.57 Td (Compensation Plan of 2005 for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 137.57 Td (Employees of PinnacleWest Capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 127.57 Td (Corporation and Affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 157.57 Td (10.2.5b to Pinnacle West/APS 2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 147.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 137.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 124.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 157.57 Td (2/24/2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 108.57 Td (10.2.5c) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 111.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 75.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 108.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 108.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 108.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 98.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 75.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 108.57 Td (Third Amendment to the Deferred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 98.57 Td (Compensation Plan of 2005 for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 88.57 Td (Employees of PinnacleWest Capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 78.57 Td (Corporation and Affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 108.57 Td (10.2.5c to Pinnacle West/APS 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 98.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 88.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 75.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 108.57 Td (2/21/2014) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 355 0 obj <>] /Rotate 0 /Contents 356 0 R>> endobj 356 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (174) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 733.23 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 725.23 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 124.75 725.23 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 187.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.70 725.23 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.05 725.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 385.34 725.23 Td (eviouslyFiledasExhibit:) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 473.35 725.23 Td (a) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 507.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.80 725.23 Td (Date Filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 711.57 Td (10.3.1) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 714.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 678.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 711.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 711.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 711.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 701.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 678.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 711.57 Td (Pinnacle West Capital Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 701.57 Td (Supplement Excess Benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 691.57 Td (Retirement Plan, amended and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 681.57 Td (restated as of January1, 2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 711.57 Td (10.7A to Pinnacle Wests 2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 701.57 Td (Form10-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 678.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 711.57 Td (3/15/2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 662.57 Td (10.3.1a) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 665.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 629.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 662.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 662.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 662.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 652.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 629.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 662.57 Td (Pinnacle West Capital Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 652.57 Td (Supplemental Excess Benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 642.57 Td (Retirement Plan, as amended and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 632.57 Td (restated, dated December18, 2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 662.57 Td (10.48b to Pinnacle West/APS 2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 652.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 642.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 629.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 662.57 Td (3/13/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 613.57 Td (10.3.2) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 616.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 590.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 613.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 613.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 613.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 603.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 590.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 613.57 Td (Pinnacle West Capital Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 603.57 Td (Supplemental Excess Benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 593.57 Td (Retirement Plan of 2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 613.57 Td (10.3.2 to Pinnacle West/APS 2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 603.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 593.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 590.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 613.57 Td (2/20/2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 574.57 Td (10.3.2a) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 577.74 Td (b) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 574.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 574.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 574.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 564.57 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 574.57 Td (First Amendment to the Pinnacle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 564.57 Td (West Capital Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 554.57 Td (Supplemental Excess Benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 544.57 Td (Retirement Plan of 2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 527.57 Td (10.3.2b) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 82.50 530.74 Td (b) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 527.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 527.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 527.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 517.57 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 527.57 Td (Second Amendment to the Pinnacle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 517.57 Td (West Capital Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 507.57 Td (Supplemental Excess Benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 497.57 Td (Retirement Plan of 2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 527.57 Td (10.1 to Pinnacle West/APS March) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 517.57 Td (31, 2014 Form10-Q Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 507.57 Td (Nos. 1-8962 and 1-4473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 527.57 Td (5/2/2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 480.57 Td (10.4.1) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 483.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 457.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 480.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 457.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 480.57 Td (Letter Agreement dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 470.57 Td (December20, 2006 between APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 460.57 Td (and RandallK. Edington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 480.57 Td (10.78 to Pinnacle West/APS 2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 470.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 460.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 457.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 480.57 Td (2/28/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 441.57 Td (10.4.2) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 444.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 418.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 441.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 418.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 441.57 Td (Letter Agreement dated July22,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 431.57 Td (2008 between APS and Randall K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 421.57 Td (Edington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 441.57 Td (10.3 to Pinnacle West/APS June30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 431.57 Td (2008 Form10-Q Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 421.57 Td (No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 418.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 441.57 Td (8/7/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 402.57 Td (10.4.3) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 405.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 379.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 402.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 402.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 402.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 392.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 379.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 402.57 Td (Letter Agreement dated June17,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 392.57 Td (2008 between PinnacleWest/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 382.57 Td (and James R. Hatfield) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 402.57 Td (10.1 to Pinnacle West/APS June30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 392.57 Td (2008 Form10-Q Report, File Nos.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 382.57 Td (1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 379.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 402.57 Td (8/7/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 363.57 Td (10.4.4) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 366.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 340.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 363.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 340.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 363.57 Td (Supplemental Agreement dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 353.57 Td (December26, 2008 between APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 343.57 Td (and RandallK. Edington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 363.57 Td (10.4.10 to Pinnacle West/APS 2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 353.57 Td (Form10-K Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 340.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 363.57 Td (2/20/2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 324.57 Td (10.4.5) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 327.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 301.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 324.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 301.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 324.57 Td (Description of 2010 Palo Verde) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 314.57 Td (Specific Compensation Opportunity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 304.57 Td (for RandallK. Edington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 324.57 Td (10.4.13 to Pinnacle West/APS 2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 314.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 304.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 301.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 324.57 Td (2/19/2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 285.57 Td (10.4.6) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 77.50 290.10 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 262.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 285.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 262.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 285.57 Td (Letter Agreement dated May21,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 275.57 Td (2009, between Pinnacle West and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 265.57 Td (DavidP. Falck) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 285.57 Td (10.4 to Pinnacle West/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 275.57 Td (March31, 2010 Form10-Q Report,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 265.57 Td (File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 262.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 285.57 Td (5/6/2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 246.57 Td (10.4.7) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 249.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 223.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 246.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 223.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 246.57 Td (Supplemental Agreement dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 236.57 Td (June19, 2012 between APS and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 226.57 Td (RandallK. Edington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 246.57 Td (10.1 to Pinnacle West/APS June30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 236.57 Td (2012 Form10-Q Report File Nos.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 226.57 Td (1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 223.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 246.57 Td (8/2/2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 207.57 Td (10.4.8) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 210.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 184.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 207.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 184.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 207.57 Td (Description of 2013 Palo Verde) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 197.57 Td (Specific Compensation Opportunity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 187.57 Td (for RandallK. Edington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 207.57 Td (Pinnacle West/APS December24,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 197.57 Td (2012 Form8-K Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 187.57 Td (No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 184.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.70 207.57 Td (12/26/2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 168.57 Td (10.4.9) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 171.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 142.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 168.57 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 168.57 Td (Supplemental Agreement dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 158.57 Td (December 14, 2014 between APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 148.57 Td (and Randall K. Edington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 126.57 Td (10.5.1) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 129.74 Td (bd) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 83.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 126.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 126.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 126.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 116.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 83.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 126.57 Td (Key Executive Employment and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 116.57 Td (Severance Agreement between) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 106.57 Td (Pinnacle West and certain executive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 96.57 Td (officers of PinnacleWest and its) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 86.57 Td (subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 126.57 Td (10.77 to Pinnacle West/APS 2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 116.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 106.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 83.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 126.57 Td (3/13/2006) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 357 0 obj <>] /Rotate 0 /Contents 358 0 R>> endobj 358 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (175) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 733.23 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 725.23 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 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0 0 0 rg BT 108.50 619.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 652.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 652.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 652.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 642.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 619.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 652.57 Td (Formof Key Executive Employment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 642.57 Td (and Severance Agreement between) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 632.57 Td (PinnacleWest and certain officers of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 622.57 Td (Pinnacle West and its subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 652.57 Td (10.3 to Pinnacle West/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 642.57 Td (September30, 2007 Form10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 632.57 Td (Report, File Nos. 1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 619.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.40 652.57 Td (11/6/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 603.57 Td (10.5.3) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 606.74 Td (bd) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 570.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 603.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 603.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 603.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 593.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 570.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 603.57 Td (Formof Key Executive Employment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 593.57 Td (and Severance Agreement between) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 583.57 Td (PinnacleWest and certain officers of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 573.57 Td (Pinnacle West and its subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 603.57 Td (10.5.3 to Pinnacle West/APS 2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 593.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 583.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 570.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 603.57 Td (2/19/2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 554.57 Td (10.5.4) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 557.74 Td (bd) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 521.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 554.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 554.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 554.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 544.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 521.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 554.57 Td (Formof Key Executive Employment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 544.57 Td (and Severance Agreement between) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 534.57 Td (PinnacleWest and certain officers of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 524.57 Td (Pinnacle West and its subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 554.57 Td (10.5.4 to Pinnacle West/APS 2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 544.57 Td (Form10-K, File Nos. 1-8962 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 534.57 Td (1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 521.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 554.57 Td (2/22/2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 505.57 Td (10.6.1) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 508.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 492.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 505.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 505.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 505.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 495.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 492.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 505.57 Td (Pinnacle West Capital Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 495.57 Td (2002 Long-Term Incentive Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 505.57 Td (10.5A to Pinnacle Wests 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 495.57 Td (Form10-K Report) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 492.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 505.57 Td (3/31/2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 476.57 Td (10.6.1a) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 479.74 Td (bd) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 443.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 476.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 476.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 476.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 466.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 443.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 476.57 Td (Performance Share Agreement under) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 466.57 Td (the Pinnacle West Capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 456.57 Td (Corporation 2002 Long-Term) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 446.57 Td (Incentive Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 476.57 Td (10.1 to Pinnacle West/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 466.57 Td (December9, 2005 Form8-K Report,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 456.57 Td (File Nos. 1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 443.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.70 476.57 Td (12/15/2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 427.57 Td (10.6.1b) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 82.50 430.74 Td (bd) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 394.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 427.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 427.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 427.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 417.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 394.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 427.57 Td (Performance Share Agreement under) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 417.57 Td (the Pinnacle West Capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 407.57 Td (Corporation 2002 Long-Term) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 397.57 Td (Incentive Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 427.57 Td (10.1 to Pinnacle West/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 417.57 Td (December31, 2005 Form 8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 407.57 Td (Report, File Nos. 1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 394.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 427.57 Td (2/1/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 378.57 Td (10.6.1c) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 381.74 Td (bd) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 345.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 378.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 378.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 378.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 368.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 345.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 378.57 Td (Performance Accelerated Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 368.57 Td (Option Agreement under Pinnacle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 358.57 Td (West Capital Corporation 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 348.57 Td (Long-Term Incentive Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 378.57 Td (10.98 to Pinnacle West/APS 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 368.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 358.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 345.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 378.57 Td (3/16/2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 329.57 Td (10.6.1d) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 82.50 332.74 Td (bd) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 296.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 329.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 329.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 329.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 319.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 296.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 329.57 Td (Performance Share Agreement under) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 319.57 Td (the Pinnacle West Capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 309.57 Td (Corporation 2002 Long-Term) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 299.57 Td (Incentive Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 329.57 Td (10.91 to Pinnacle West/APS 2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 319.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 309.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 296.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 329.57 Td (3/13/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 280.57 Td (10.6.2) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 77.50 283.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 247.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 280.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 247.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 280.57 Td (Pinnacle West Capital Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 270.57 Td (2007 Long-Term Incentive Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 280.57 Td (Appendix B to the Proxy Statement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 270.57 Td (for Pinnacle Wests 2007 Annual) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 260.57 Td (Meeting of Shareholders, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 250.57 Td (No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 247.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 280.57 Td (4/20/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 231.57 Td (10.6.2a) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 234.74 Td (b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 208.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 231.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 208.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 231.57 Td (First Amendment to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 221.57 Td (PinnacleWest Capital Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 211.57 Td (2007 Long-Term Incentive Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 231.57 Td (10.2 to Pinnacle West/APS April18,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 221.57 Td (2007 Form8-K Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 211.57 Td (No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 208.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 231.57 Td (4/20/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 192.57 Td (10.6.2b) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 82.50 195.74 Td (bd) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 159.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 192.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 192.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 192.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 182.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 159.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 192.57 Td (Performance Share Agreement under) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 182.57 Td (the Pinnacle West Capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 172.57 Td (Corporation 2007 Long-Term) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 162.57 Td (Incentive Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 192.57 Td (10.3 to Pinnacle West/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 182.57 Td (March31, 2009 Form10-Q Report,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 172.57 Td (File Nos. 1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 159.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 192.57 Td (5/5/2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 143.57 Td (10.6.2c) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 81.94 146.74 Td (bd) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 110.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 143.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 110.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 143.57 Td (Formof Performance Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 133.57 Td (Agreement under the PinnacleWest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 123.57 Td (Capital Corporation 2007 Long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 113.57 Td (Term Incentive Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 143.57 Td (10.1 to Pinnacle West/APS June30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 133.57 Td (2010 Form10-Q Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 123.57 Td (No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 110.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 143.57 Td (8/3/2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 94.57 Td (10.6.2d) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 82.50 97.74 Td (bd) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 61.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 94.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 61.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 94.57 Td (Formof Restricted Stock Unit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 84.57 Td (Agreement under the PinnacleWest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 74.57 Td (Capital Corporation 2007 Long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 64.57 Td (Term Incentive Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 94.57 Td (10.2 to Pinnacle West/APS June30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 84.57 Td (2010 Form10-Q Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 74.57 Td (No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 61.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 94.57 Td (8/3/2010) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj 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10.00 Tf ET q 0 0 0 rg BT 118.75 707.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 707.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 707.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 697.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 694.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 707.57 Td (Indenture of Lease with Navajo) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 697.57 Td (Tribe of Indians, Four Corners Plant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 707.57 Td (5.01 to APSs FormS-7 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 697.57 Td (Statement, File No.2-59644) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 694.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 707.57 Td (9/1/1977) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 678.57 Td (10.7.1a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 635.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 678.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 678.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 678.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 668.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 635.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 678.57 Td (Supplemental and Additional) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 668.57 Td (Indenture of Lease, including) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 658.57 Td (amendments and supplements to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 648.57 Td (original lease with Navajo Tribe of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 638.57 Td (Indians, Four Corners Plant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 678.57 Td (5.02 to APSs FormS-7 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 668.57 Td (Statement, File No.2-59644) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 635.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 678.57 Td (9/1/1977) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 619.57 Td (10.7.1b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 586.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 619.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 619.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 619.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 609.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 586.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 619.57 Td (Amendment and Supplement No.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 609.57 Td (to Supplemental and Additional) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 599.57 Td (Indenture of Lease Four Corners,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 589.57 Td (dated April25, 1985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 619.57 Td (10.36 to Pinnacle Wests Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 609.57 Td (Statement on Form 8-B Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 599.57 Td (No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 586.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 619.57 Td (7/25/1985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 570.57 Td (10.7.1c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 537.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 570.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 570.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 570.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 560.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 537.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 570.57 Td (Amendment and Supplement No.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 560.57 Td (to Supplemental and Additional) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 550.57 Td (Indenture of Lease with the Navajo) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 540.57 Td (Nation dated March7, 2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 570.57 Td (10.1 to Pinnacle West/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 560.57 Td (March31, 2011 Form10-Q Report,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 550.57 Td (File Nos. 1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 537.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.40 570.57 Td (4/29/2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 521.57 Td (10.7.1d) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 488.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 521.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 521.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 521.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 511.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 488.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 521.57 Td (Amendment and Supplement No.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 511.57 Td (to Supplemental and Additional) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 501.57 Td (Indenture of Lease with the Navajo) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 491.57 Td (Nation dated March7, 2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 521.57 Td (10.2 to Pinnacle West/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 511.57 Td (March31, 2011 Form10-Q Report,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 501.57 Td (File Nos. 1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 488.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.40 521.57 Td (4/29/2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 472.57 Td (10.7.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 449.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 472.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 472.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 472.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 462.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 449.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 472.57 Td (Application and Grant of multi-party) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 462.57 Td (rights-of-way and easements, Four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 452.57 Td (Corners Plant Site) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 472.57 Td (5.04 to APSs FormS-7 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 462.57 Td (Statement, File No.2-59644) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 449.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 472.57 Td (9/1/1977) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 433.57 Td (10.7.2a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 400.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 433.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 433.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 433.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 423.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 400.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 433.57 Td (Application and Amendment No.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 423.57 Td (to Grant of 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BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 384.57 Td (Application and Grant of APS rights-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 374.57 Td (of-way and easements, Four Corners) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 364.57 Td (Site) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 384.57 Td (5.05 to APSs FormS-7 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 374.57 Td (Statement, File No.2-59644) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 361.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 384.57 Td (9/1/1977) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 345.57 Td (10.7.3a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 312.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 345.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 345.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 345.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 335.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 312.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 345.57 Td (Application and Amendment No.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 335.57 Td (to Grant of APS rights-of-way and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 325.57 Td (easements, Four Corners Site dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 315.57 Td (April25, 1985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 345.57 Td (10.38 to Pinnacle Wests Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 335.57 Td (Statement on Form8-B, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 325.57 Td (No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 312.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 345.57 Td (7/25/1985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 296.57 Td (10.7.4a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 283.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 296.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 296.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 296.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 286.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 283.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 296.57 Td (Four Corners Project Co-Tenancy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 286.57 Td (Agreement Amendment No.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 296.57 Td (10.7 to Pinnacle Wests 2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 286.57 Td (Form10-K Report, File No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 283.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 296.57 Td (3/14/2001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 267.57 Td (10.7.4b) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 267.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 267.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 267.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 257.57 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 267.57 Td (Four Corners Project Co-Tenancy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 257.57 Td (Agreement Amendment No. 7, dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 247.57 Td (December 30, 2013, among APS, El) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 237.57 Td (Paso Electric Company, Public) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 227.57 Td (Service Company of New Mexico,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 217.57 Td (SRP, SCE, and Tucson Electric) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 207.57 Td (Power Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 267.57 Td (10.3 to Pinnacle West/APS March) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 257.57 Td (31, 2014 Form10-Q Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 247.57 Td (Nos. 1-8962 and 1-4473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 267.57 Td (5/2/2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 188.57 Td (10.8.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 175.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 188.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 188.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 188.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 178.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 175.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 188.57 Td (Indenture of Lease, Navajo Units 1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 178.57 Td (2, and 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 188.57 Td (5\(g\)to APSs FormS-7 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 178.57 Td (Statement, File No.2-36505) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 175.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 188.57 Td (3/23/1970) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 159.57 Td (10.8.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 146.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 159.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 159.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 159.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 149.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 146.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 159.57 Td (Application of Grant of rights-of-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 149.57 Td (way and easements, Navajo Plant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 159.57 Td (5\(h\)to APS FormS-7 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 149.57 Td (Statement, File No.2-36505) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 146.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 159.57 Td (3/23/1970) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 130.57 Td (10.8.3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 97.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 130.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 130.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 130.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 120.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 97.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 130.57 Td (Water Service Contract Assignment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 120.57 Td (with the United States Department of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 110.57 Td (Interior, Bureau of Reclamation,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 100.57 Td (Navajo Plant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 130.57 Td (5\(l\)to APSs FormS-7 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 120.57 Td (Statement, File No.2-394442) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 97.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 130.57 Td (3/16/1971) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 363 0 obj <>] /Rotate 0 /Contents 364 0 R>> endobj 364 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (178) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 733.23 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 725.23 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 124.75 725.23 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 187.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.70 725.23 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.05 725.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 385.34 725.23 Td (eviouslyFiledasExhibit:) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 473.35 725.23 Td (a) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 507.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.80 725.23 Td (Date Filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 711.57 Td (10.8.4) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 588.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 711.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 711.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 711.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 701.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 588.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 711.57 Td (Navajo Project Co-Tenancy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 701.57 Td (Agreement dated as of March23,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 691.57 Td (1976, and Supplement No.1 thereto) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 681.57 Td (dated as of October18, 1976,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 671.57 Td (Amendment No.1 dated as of July5,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 661.57 Td (1988, and Amendment No.2 dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 651.57 Td (as of June14, 1996; Amendment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 641.57 Td (No.3 dated as of February11, 1997;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 631.57 Td (Amendment No.4 dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 621.57 Td (January21, 1997; Amendment No.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 611.57 Td (dated as of January23, 1998;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 601.57 Td (Amendment No.6 dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 591.57 Td (July31, 1998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 711.57 Td (10.107 to Pinnacle West/APS 2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 701.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 691.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 588.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 711.57 Td (3/13/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 572.57 Td (10.8.5) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 499.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 572.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 572.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 572.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 562.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 499.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 572.57 Td (Navajo Project Participation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 562.57 Td (Agreement dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 552.57 Td (September30, 1969, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 542.57 Td (Amendment and Supplement No.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 532.57 Td (dated as of January16, 1970, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 522.57 Td (Coordinating Committee Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 512.57 Td (No.1 dated as of September30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 502.57 Td (1971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 572.57 Td (10.108 to Pinnacle West/APS 2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 562.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 552.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 499.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 572.57 Td (3/13/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 483.57 Td (10.9.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 410.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 483.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 483.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 483.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 473.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 410.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 483.57 Td (ANPP Participation Agreement,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 473.57 Td (dated August23, 1973, among APS,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 463.57 Td (SRP, SCE, Public Service Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 453.57 Td (of New Mexico, El Paso, Southern) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 443.57 Td (California Public Power Authority,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 433.57 Td (and Department of Water and Power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 423.57 Td (of the City of Los Angeles, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 413.57 Td (amendments 1-12 thereto) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 483.57 Td (10. 1 to APSs 1988 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 473.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 410.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 483.57 Td (3/8/1989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 394.57 Td (10.9.1a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 311.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 394.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 394.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 394.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 384.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 311.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 394.57 Td (Amendment No.13, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 384.57 Td (April22, 1991, to ANPP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 374.57 Td (Participation Agreement, dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 364.57 Td (August23, 1973, among APS, SRP,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 354.57 Td (SCE, Public Service Company of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 344.57 Td (New Mexico, El Paso, Southern) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 334.57 Td (California Public Power Authority,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 324.57 Td (and Department of Water and Power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 314.57 Td (of the City of Los Angeles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 394.57 Td (10.1 to APSs March31, 1991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 384.57 Td (Form10-Q Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 311.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 394.57 Td (5/15/1991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 295.57 Td (10.9.1b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 222.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 295.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 295.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 295.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 285.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 222.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 295.57 Td (Amendment No.14 to ANPP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 285.57 Td (Participation Agreement, dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 275.57 Td (August23, 1973, among APS, SRP,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 265.57 Td (SCE, Public Service Company of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 255.57 Td (New Mexico, El Paso, Southern) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 245.57 Td (California Public Power Authority,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 235.57 Td (and Department of Water and Power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 225.57 Td (of the City of Los Angeles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 295.57 Td (99.1 to Pinnacle Wests June30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 285.57 Td (2000 Form10-Q Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 275.57 Td (No.1-8962) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 222.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 295.57 Td (8/14/2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 206.57 Td (10.9.1c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 123.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 206.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 206.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 206.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 196.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 123.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 206.57 Td (Amendment No.15, dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 196.57 Td (November29, 2010, to ANPP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 186.57 Td (Participation Agreement, dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 176.57 Td (August23, 1973, among APS, SRP,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 166.57 Td (SCE, Public Service Company of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 156.57 Td (New Mexico, El Paso, Southern) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 146.57 Td (California Public Power Authority,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 136.57 Td (and Department of Water and Power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 126.57 Td (of the City of Los Angeles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 206.57 Td (10.9.1c to Pinnacle West/APS 2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 196.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 186.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 123.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.40 206.57 Td (2/18/2011) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 365 0 obj <>] /Rotate 0 /Contents 366 0 R>> endobj 366 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (179) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 733.23 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 725.23 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 124.75 725.23 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 187.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.70 725.23 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.05 725.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 385.34 725.23 Td (eviouslyFiledasExhibit:) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 473.35 725.23 Td (a) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 507.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.80 725.23 Td (Date Filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 711.57 Td (10.9.1d) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 711.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 711.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 711.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 701.57 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 711.57 Td (Amendment No. 16, dated April 28,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 701.57 Td (2014, to ANPP Participation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 691.57 Td (Agreement, dated August 23, 1973,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 681.57 Td (among APS, SRP, SCE, Public) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 671.57 Td (Service Company of New Mexico,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 661.57 Td (El Paso, Southern California Public) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 651.57 Td (Power Authority, and Department of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 641.57 Td (Water and Power of the City of Los) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 631.57 Td (Angeles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 711.57 Td (10.2 to Pinnacle West/APS March) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 701.57 Td (31, 2014 Form10-Q Report, File) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 691.57 Td (Nos. 1-8962 and 1-4473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 711.57 Td (5/2/2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 612.57 Td (10.10.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 569.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 612.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 612.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 612.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 602.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 569.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 612.57 Td (Asset Purchase and Power Exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 602.57 Td (Agreement dated September21,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 592.57 Td (1990 between APS and PacifiCorp,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 582.57 Td (as amended as of October11, 1990) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 572.57 Td (and as of July18, 1991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 612.57 Td (10.1 to APSs June30, 1991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 602.57 Td (Form10-Q Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 569.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 612.57 Td (8/8/1991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 553.57 Td (10.10.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 510.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 553.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 553.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 553.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 543.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 510.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 553.57 Td (Long-Term Power Transaction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 543.57 Td (Agreement dated September21,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 533.57 Td (1990 between APS and PacifiCorp,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 523.57 Td (as amended as of October11, 1990,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 513.57 Td (and as of July8, 1991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 553.57 Td (10.2 to APSs June30, 1991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 543.57 Td (Form10-Q Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 510.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 553.57 Td (8/8/1991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 494.57 Td (10.10.2a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 441.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 494.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 494.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 494.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 484.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 441.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 494.57 Td (Amendment No.1 dated April5,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 484.57 Td (1995 to the Long-Term Power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 474.57 Td (Transaction Agreement and Asset) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 464.57 Td (Purchase and Power Exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 454.57 Td (Agreement between PacifiCorp and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 444.57 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 494.57 Td (10.3 to APSs 1995 Form10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 484.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 441.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 494.57 Td (3/29/1996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 425.57 Td (10.10.3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 402.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 425.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 425.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 425.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 415.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 402.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 425.57 Td (Restated Transmission Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 415.57 Td (between PacifiCorp and APS dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 405.57 Td (April5, 1995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 425.57 Td (10.4 to APSs 1995 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 415.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 402.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 425.57 Td (3/29/1996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 386.57 Td (10.10.4) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 333.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 386.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 386.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 386.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 376.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 333.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 386.57 Td (Contract among PacifiCorp, APS and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 376.57 Td (DOE Western Area Power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 366.57 Td (Administration, Salt Lake Area) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 356.57 Td (Integrated Projects for Firm) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 346.57 Td (Transmission Service dated May5,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 336.57 Td (1995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 386.57 Td (10.5 to APSs 1995 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 376.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 333.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 386.57 Td (3/29/1996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 317.57 Td (10.10.5) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 284.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 317.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 317.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 317.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 307.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 284.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 317.57 Td (Reciprocal Transmission Service) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 307.57 Td (Agreement between APS and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 297.57 Td (PacifiCorp dated as of March2,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 287.57 Td (1994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 317.57 Td (10.6 to APSs 1995 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 307.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 284.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 317.57 Td (3/29/1996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 268.57 Td (10.11.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 225.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 268.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 268.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 268.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 258.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 225.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 268.57 Td (Five-Year Credit Agreement dated as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 258.57 Td (of May9, 2014, among APS, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 248.57 Td (Borrower, Barclays Bank PLC, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 238.57 Td (Agent and Issuing Bank, and the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 228.57 Td (lenders and other parties thereto) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 268.57 Td (10.3 to Pinnacle West/APS June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 258.57 Td (2014 Form10-Q Report, File Nos.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 248.57 Td (1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 225.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 268.57 Td (7/31/2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 209.57 Td (10.11.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 103.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 209.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 103.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 209.57 Td (Term Loan Agreement dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 199.57 Td (December 31, 2014 among Pinnacle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 189.57 Td (West, as Borrower, JPMorgan Chase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 179.57 Td (Bank, N.A., as Agent, U.S. Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 169.57 Td (Association, as Syndication Agent,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 159.57 Td (TD Bank, N.A., The Bank of Nova) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 149.57 Td (Scotia and The Bank of Tokyo-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 139.57 Td (Mitsubishi UFJ, Ltd., as Co-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 129.57 Td (Documentation Agents, and such) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 119.57 Td (institutions compromising the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 109.57 Td (lenders party thereto) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 367 0 obj <>] /Rotate 0 /Contents 368 0 R>> endobj 368 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (180) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 733.23 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 725.23 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 124.75 725.23 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 187.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.70 725.23 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.05 725.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 385.34 725.23 Td (eviouslyFiledasExhibit:) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 473.35 725.23 Td (a) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 507.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.80 725.23 Td (Date Filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 711.57 Td (10.11.3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 668.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 711.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 668.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 711.57 Td (Five-Year Credit Agreement, dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 701.57 Td (as of May9, 2014, among Pinnacle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 691.57 Td (West, as Borrower, Barclays Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 681.57 Td (PLC, as Agent and Issuing Bank, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 671.57 Td (the lenders and other parties thereto) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 711.57 Td (10.4 to Pinnacle West/APS June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 701.57 Td (2014 Form10-Q Report, File Nos.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 691.57 Td (1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 668.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 711.57 Td (7/31/2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 652.57 Td (10.11.4) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 609.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 652.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 652.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 652.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 642.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 609.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 652.57 Td (Reimbursement Agreement among) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 642.57 Td (APS, the Banks party thereto, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 632.57 Td (JPMorgan Chase Bank, N.A., as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 622.57 Td (Administrative Agent and Issuing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 612.57 Td (Bank, dated as of April16, 2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 652.57 Td (10.2 to Pinnacle West/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 642.57 Td (March31, 2010 Form10-Q Report,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 632.57 Td (File Nos. 1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 609.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 652.57 Td (5/6/2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 593.57 Td (10.11.4a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 540.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 593.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 593.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 593.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 583.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 540.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 593.57 Td (Amendment No.1 to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 583.57 Td (Reimbursement Agreement among) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 573.57 Td (APS, the Banks party thereto, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 563.57 Td (JPMorgan Chase Bank, N.A., as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 553.57 Td (Administrative Agent and Issuing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 543.57 Td (Bank, dated December22, 2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 593.57 Td (10.11.5a to Pinnacle West/APS 2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 583.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 573.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 540.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 593.57 Td (2/24/2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 524.57 Td (10.11.5) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 481.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 524.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 524.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 524.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 514.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 481.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 524.57 Td (Reimbursement Agreement among) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 514.57 Td (APS, the Banks party thereto, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 504.57 Td (JPMorgan Chase Bank, N.A., as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 494.57 Td (Administrative Agent and Issuing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 484.57 Td (Bank, dated as of April16, 2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 524.57 Td (10.3 to Pinnacle West/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 514.57 Td (March31, 2010 Form10-Q Report,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 504.57 Td (File Nos. 1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 481.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 524.57 Td (5/6/2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 465.57 Td (10.11.5a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 412.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 465.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 465.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 465.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 455.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 412.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 465.57 Td (Amendment No.1 to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 455.57 Td (Reimbursement Agreement among) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 445.57 Td (APS, the Banks party thereto, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 435.57 Td (JPMorgan Chase Bank, N.A., as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 425.57 Td (Administrative Agent and Issuing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 415.57 Td (Bank, dated December22, 2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 465.57 Td (10.11.6a to Pinnacle West/APS 2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 455.57 Td (Form10-K Report, File Nos. 1-8962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 445.57 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 412.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 465.57 Td (2/24/2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 396.57 Td (10.11.6) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 353.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 396.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 353.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 396.57 Td (Five-Year Credit Agreement dated as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 386.57 Td (of April9, 2013 among APS, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 376.57 Td (Borrower, Barclays Bank PLC, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 366.57 Td (Agent and the lenders and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 356.57 Td (parties thereto) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 396.57 Td (10.1 to Pinnacle West/APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 386.57 Td (March31, 2013 Form10-Q Report,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 376.57 Td (File Nos. 1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 353.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 396.57 Td (5/3/2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 337.57 Td (10.12.1) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 82.50 340.74 Td (c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 264.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 337.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 337.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 337.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 327.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 264.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 337.57 Td (Facility Lease, dated as of August1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 327.57 Td (1986, between U.S. Bank National) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 317.57 Td (Association, successor to State Street) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 307.57 Td (Bank and Trust Company, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 297.57 Td (successor to The First National Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 287.57 Td (of Boston, in its capacity as Owner) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 277.57 Td (Trustee, as Lessor, and APS, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 267.57 Td (Lessee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 337.57 Td (4.3 to APSs Form18 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 327.57 Td (Statement, File No.33-9480) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 264.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.70 337.57 Td (10/24/1986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 248.57 Td (10.12.1a) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 86.94 251.74 Td (c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 165.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 248.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 248.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 248.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 238.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 165.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 248.57 Td (Amendment No.1, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 238.57 Td (November1, 1986, to Facility Lease,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 228.57 Td (dated as of August1, 1986, between) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 218.57 Td (U.S. Bank National Association,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 208.57 Td (successor to State Street Bank and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 198.57 Td (Trust Company, as successor to The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 188.57 Td (First National Bank of Boston, in its) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 178.57 Td (capacity as Owner Trustee, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 168.57 Td (Lessor, and APS, as Lessee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 248.57 Td (10.5 to APSs September30, 1986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 238.57 Td (Form10-Q Report by means of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 228.57 Td (Amendment No.1 on December3,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 218.57 Td (1986 Form8, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 165.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 248.57 Td (12/4/1986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 149.57 Td (10.12.1b) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 87.50 152.74 Td (c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 76.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 149.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 149.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 149.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 139.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 76.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 149.57 Td (Amendment No.2 dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 139.57 Td (June1, 1987 to Facility Lease dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 129.57 Td (as of August1, 1986 between U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 119.57 Td (Bank National Association,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 109.57 Td (successor to State Street Bank and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 99.57 Td (Trust Company, as successor to The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 89.57 Td (First National Bank of Boston, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 79.57 Td (Lessor, and APS, as Lessee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 149.57 Td (10.3 to APSs 1988 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 139.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 76.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 149.57 Td (3/8/1989) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 369 0 obj <>] /Rotate 0 /Contents 370 0 R>> endobj 370 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (181) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 733.23 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 725.23 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 124.75 725.23 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 187.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.70 725.23 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.05 725.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 385.34 725.23 Td (eviouslyFiledasExhibit:) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 473.35 725.23 Td (a) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 507.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.80 725.23 Td (Date Filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 711.57 Td (10.12.1c) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 86.94 714.74 Td (c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 638.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 711.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 711.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 711.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 701.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 638.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 711.57 Td (Amendment No.3, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 701.57 Td (March17, 1993, to Facility Lease,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 691.57 Td (dated as of August1, 1986, between) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 681.57 Td (U.S. Bank National Association,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 671.57 Td (successor to State Street Bank and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 661.57 Td (Trust Company, as successor to The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 651.57 Td (First National Bank of Boston, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 641.57 Td (Lessor, and APS, as Lessee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 711.57 Td (10.3 to APSs 1992 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 701.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 638.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 711.57 Td (3/30/1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 622.57 Td (10.12.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 549.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 622.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 622.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 622.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 612.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 549.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 622.57 Td (Facility Lease, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 612.57 Td (December15, 1986, between U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 602.57 Td (Bank National Association,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 592.57 Td (successor to State Street Bank and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 582.57 Td (Trust Company, as successor to The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 572.57 Td (First National Bank of Boston, in its) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 562.57 Td (capacity as Owner Trustee, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 552.57 Td (Lessor, and APS, as Lessee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 622.57 Td (10.1 to APSs November18, 1986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 612.57 Td (Form8-K Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 549.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 622.57 Td (1/20/1987) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 533.57 Td (10.12.2a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 450.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 533.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 533.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 533.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 523.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 450.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 533.57 Td (Amendment No.1, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 523.57 Td (August1, 1987, to Facility Lease,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 513.57 Td (dated as of December15, 1986,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 503.57 Td (between U.S. Bank National) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 493.57 Td (Association, successor to State Street) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 483.57 Td (Bank and Trust Company, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 473.57 Td (successor to The First National Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 463.57 Td (of Boston, as Lessor, and APS, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 453.57 Td (Lessee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 533.57 Td (4.13 to APSs Form18 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 523.57 Td (Statement No. 33-9480 by means of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 513.57 Td (August1, 1987 Form8-K Report,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 503.57 Td (File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 450.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 533.57 Td (8/24/1987) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 434.57 Td (10.12.2b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 351.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 434.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 434.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 434.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 424.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 351.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 434.57 Td (Amendment No.2, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 424.57 Td (March17, 1993, to Facility Lease,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 414.57 Td (dated as of December15, 1986,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 404.57 Td (between U.S. Bank National) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 394.57 Td (Association, successor to State Street) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 384.57 Td (Bank and Trust Company, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 374.57 Td (successor to The First National Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 364.57 Td (of Boston, as Lessor, and APS, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 354.57 Td (Lessee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 434.57 Td (10.4 to APSs 1992 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 424.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 351.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 434.57 Td (3/30/1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 335.57 Td (10.12.2c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 261.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 335.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 335.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 335.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 325.57 Td (APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 335.57 Td (Amendment No. 3, dated July 10,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 325.57 Td (2014, to Facility Lease, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 315.57 Td (December 15, 1986, between U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 305.57 Td (Bank National Association,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 295.57 Td (successor to State Street Bank and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 285.57 Td (Trust Company, as successor to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 275.57 Td (First National Bank of Boston, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 265.57 Td (Lessor, and APS, as Lessee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 335.57 Td (10.2 to Pinnacle West/APS June 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 325.57 Td (2014 Form10-Q Report, File Nos.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 315.57 Td (1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 261.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 335.57 Td (7/31/2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 245.57 Td (10.13.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 182.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 245.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 245.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 245.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 235.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 182.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 244.67 Td (Agreement between Pinnacle) Tj ET Q q 0 0 0 rg BT 310.99 244.67 Td (W) Tj ET Q q 0 0 0 rg BT 319.63 244.67 Td (est ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 234.67 Td (Ener) Tj ET Q q 0 0 0 rg BT 210.20 234.67 Td (gy Corporation and ) Tj ET Q q 0 0 0 rg BT 289.91 234.67 Td (APS for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 224.67 Td (T) Tj ET Q q 0 0 0 rg BT 197.26 224.67 Td (ransportation and ) Tj ET Q q 0 0 0 rg BT 269.28 224.67 Td (T) Tj ET Q q 0 0 0 rg BT 275.04 224.67 Td (reatment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 214.67 Td (Ef) Tj ET Q q 0 0 0 rg BT 200.76 214.67 Td (fluent by and between Pinnacle ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 204.67 Td (W) Tj ET Q q 0 0 0 rg BT 200.14 204.67 Td (est Ener) Tj ET Q q 0 0 0 rg BT 232.44 204.67 Td (gy Corporation and ) Tj ET Q q 0 0 0 rg BT 312.15 204.67 Td (APS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 194.67 Td (dated as of the 10) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 262.03 194.67 Td (th) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.48 194.67 Td (day of ) Tj ET Q q 0 0 0 rg BT 297.19 194.67 Td (April, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 184.67 Td (2001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 245.57 Td (10.102 to Pinnacle West/APS 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 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BT 351.50 288.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 259.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 288.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 243.57 Td (21.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 240.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 243.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 240.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 243.57 Td (Subsidiaries of Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 249.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 240.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 249.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 224.57 Td (23.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 221.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 224.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 221.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 224.57 Td (Consent of Deloitte& Touche LLP) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 230.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 221.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 230.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 205.57 Td (23.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 202.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 205.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 202.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 205.57 Td (Consent of Deloitte& Touche LLP) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 211.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 202.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 211.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 186.57 Td (31.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 143.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 186.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 143.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 186.57 Td (Certificate of Donald E. Brandt,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 176.57 Td (Chief Executive Officer, pursuant to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 166.57 Td (Rule13a-14\(a\)and Rule15d-14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 156.57 Td (\(a\)of the Securities Exchange Act,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 146.57 Td (as amended) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 192.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 143.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 192.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 127.57 Td (31.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 84.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 127.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 84.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 127.57 Td (Certificate of JamesR. Hatfield,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 117.57 Td (Chief Financial Officer, pursuant to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 107.57 Td (Rule13a-14\(a\)and Rule15d-14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 97.57 Td (\(a\)of the Securities Exchange Act,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 87.57 Td (as amended) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 133.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 84.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 133.81 Td () Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 373 0 obj <>] /Rotate 0 /Contents 374 0 R>> endobj 374 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (183) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 733.23 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 725.23 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 124.75 725.23 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 187.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.70 725.23 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.05 725.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 385.34 725.23 Td (eviouslyFiledasExhibit:) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 473.35 725.23 Td (a) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 507.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.80 725.23 Td (Date Filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 711.57 Td (31.3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 668.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 711.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 668.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 711.57 Td (Certificate of DonaldE. Brandt,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 701.57 Td (Chief Executive Officer, pursuant to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 691.57 Td (Rule13a-14\(a\)and Rule15d-14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 681.57 Td (\(a\)of the Securities Exchange Act,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 671.57 Td (as amended) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 717.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 668.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 717.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 652.57 Td (31.4) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 609.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 652.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 609.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 652.57 Td (Certificate of JamesR. Hatfield,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 642.57 Td (Chief Financial Officer, pursuant to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 632.57 Td (Rule13a-14\(a\)and Rule15d-14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 622.57 Td (\(a\)of the Securities Exchange Act,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 612.57 Td (as amended) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 658.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 609.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 658.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 593.57 Td (32.1) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 70.00 596.74 Td (e) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 550.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 593.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 550.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 593.57 Td (Certification of Chief Executive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 583.57 Td (Officer and Chief Financial Officer,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 573.57 Td (pursuant to 18 U.S.C. Section1350,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 563.57 Td (as adopted pursuant to Section906) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 553.57 Td (of the Sarbanes-Oxley Act of 2002) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 599.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 550.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 599.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 534.57 Td (32.2) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 70.00 537.74 Td (e) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 491.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 534.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 491.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 534.57 Td (Certification of Chief Executive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 524.57 Td (Officer and Chief Financial Officer,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 514.57 Td (pursuant to 18 U.S.C. Section1350,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 504.57 Td (as adopted pursuant to Section906) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 494.57 Td (of the Sarbanes-Oxley Act of 2002) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 540.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 491.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 540.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 475.57 Td (99.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 452.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 475.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 475.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 475.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 465.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 452.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 475.57 Td (Collateral Trust Indenture among) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 465.57 Td (PVNGS II Funding Corp.,Inc., APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 455.57 Td (and Chemical Bank, as Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 475.57 Td (4.2 to APSs 1992 Form10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 465.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 452.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 475.57 Td (3/30/1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 436.57 Td (99.1a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 403.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 436.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 436.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 436.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 426.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 403.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 436.57 Td (Supplemental Indenture to Collateral) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 426.57 Td (Trust Indenture among PVNGS II) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 416.57 Td (Funding Corp.,Inc., APS and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 406.57 Td (Chemical Bank, as Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 436.57 Td (4.3 to APSs 1992 Form10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 426.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 403.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 436.57 Td (3/30/1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 387.57 Td (99.2) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 70.00 390.74 Td (c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 274.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 387.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 387.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 387.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 377.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 274.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 387.57 Td (Participation Agreement, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 377.57 Td (August1, 1986, among PVNGS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 367.57 Td (Funding Corp.,Inc., Bank of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 357.57 Td (America National Trust and Savings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 347.57 Td (Association, State Street Bank and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 337.57 Td (Trust Company, as successor to The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 327.57 Td (First National Bank of Boston, in its) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 317.57 Td (individual capacity and as Owner) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 307.57 Td (Trustee, Chemical Bank, in its) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 297.57 Td (individual capacity and as Indenture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 287.57 Td (Trustee, APS, and the Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 277.57 Td (Participant named therein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 387.57 Td (28.1 to APSs September30, 1992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 377.57 Td (Form10-Q Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 274.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.40 387.57 Td (11/9/1992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 258.57 Td (99.2a) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 74.44 258.57 Td (c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 125.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 258.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 258.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 258.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 248.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 125.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 258.57 Td (Amendment No.1 dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 248.57 Td (November1, 1986, to Participation) Tj ET Q BT 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 128.57 Td (Participant named therein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 258.57 Td (10.8 to APSs September30, 1986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 248.57 Td (Form10-Q Report by means of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 238.57 Td (Amendment No.1, on December3,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 228.57 Td (1986 Form8, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 125.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 258.57 Td (12/4/1986) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 375 0 obj <>] /Rotate 0 /Contents 376 0 R>> endobj 376 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (184) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 733.23 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 725.23 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 124.75 725.23 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 187.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.70 725.23 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.05 725.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 385.34 725.23 Td (eviouslyFiledasExhibit:) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 473.35 725.23 Td (a) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 507.50 723.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.80 725.23 Td (Date Filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 711.57 Td (99.2b) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 75.00 714.74 Td (c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 588.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 711.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 711.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 711.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 701.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 588.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 711.57 Td (Amendment No.2, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 701.57 Td (March17, 1993, to Participation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 691.57 Td (Agreement, dated as of August1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 681.57 Td (1986, among PVNGS Funding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 671.57 Td (Corp.,Inc., PVNGS II Funding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 661.57 Td (Corp.,Inc., State Street Bank and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 651.57 Td (Trust Company, as successor to The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 641.57 Td (First National Bank of Boston, in its) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 631.57 Td (individual capacity and as Owner) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 621.57 Td (Trustee, Chemical Bank, in its) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 611.57 Td (individual capacity and as Indenture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 601.57 Td (Trustee, APS, and the Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 591.57 Td (Participant named therein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 711.57 Td (28.4 to APSs 1992 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 701.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 588.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 711.57 Td (3/30/1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 572.57 Td (99.3) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 70.00 575.74 Td (c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 499.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 572.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 572.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 572.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 562.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 499.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 572.57 Td (Trust Indenture, Mortgage, Security) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 562.57 Td (Agreement and Assignment of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 552.57 Td (Facility Lease, dated as of August1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 542.57 Td (1986, between State Street Bank and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 532.57 Td (Trust Company, as successor to The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 522.57 Td (First National Bank of Boston, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 512.57 Td (Owner Trustee, and Chemical Bank,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 502.57 Td (as Indenture Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 572.57 Td (4.5 to APSs Form18 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 562.57 Td (Statement, File No.33-9480) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 499.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.70 572.57 Td (10/24/1986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 483.57 Td (99.3a) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 74.44 486.74 Td (c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 390.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 483.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 483.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 483.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 473.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 390.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 483.57 Td (Supplemental Indenture No.1, dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 473.57 Td (as of November1, 1986 to Trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 463.57 Td (Indenture, Mortgage, Security) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 453.57 Td (Agreement and Assignment of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 443.57 Td (Facility Lease, dated as of August1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 433.57 Td (1986, between State Street Bank and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 423.57 Td (Trust Company, as successor to The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 413.57 Td (First National Bank of Boston, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 403.57 Td (Owner Trustee, and Chemical Bank,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 393.57 Td (as Indenture Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 483.57 Td (10.6 to APSs September30, 1986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 473.57 Td (Form10-Q Report by means of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 463.57 Td (Amendment No.1 on December 3,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 453.57 Td (1986 Form8, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 390.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 483.57 Td (12/4/1986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 374.57 Td (99.3b) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 75.00 377.74 Td (c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 291.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 374.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 374.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 374.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 364.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 291.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 374.57 Td (Supplemental Indenture No.2 to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 364.57 Td (Trust Indenture, Mortgage, Security) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 354.57 Td (Agreement and Assignment of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 344.57 Td (Facility Lease, dated as of August1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 334.57 Td (1986, between State Street Bank and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 324.57 Td (Trust Company, as successor to The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 314.57 Td (First National Bank of Boston, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 304.57 Td (Owner Trustee, and Chemical Bank,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 294.57 Td (as Lease Indenture Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 374.57 Td (4.4 to APSs 1992 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 364.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 291.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 374.57 Td (3/30/1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 275.57 Td (99.4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 70.00 275.57 Td (c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 222.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 275.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 275.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 275.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 265.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 222.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 275.57 Td (Assignment, Assumption and Further) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 265.57 Td (Agreement, dated as of August1,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 255.57 Td (1986, between APS and State Street) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 245.57 Td (Bank and Trust Company, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 235.57 Td (successor to The First National Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 225.57 Td (of Boston, as Owner Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 275.57 Td (28.3 to APSs Form18 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 265.57 Td (Statement, File No.33-9480) Tj ET Q BT /F1 1.00 Tf ET 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BT 52.50 711.57 Td (99.4b) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 75.00 714.74 Td (c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 638.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 711.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 711.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 711.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 701.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 638.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 711.57 Td (Amendment No.2, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 701.57 Td (March17, 1993, to Assignment,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 691.57 Td (Assumption and Further Agreement,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 681.57 Td (dated as of August1, 1986, between) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 671.57 Td (APS and State Street Bank and Trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 661.57 Td (Company, as successor to The 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q 0 0 0 rg BT 191.50 612.57 Td (December15, 1986, among PVNGS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 602.57 Td (Funding Report Corp.,Inc., State) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 592.57 Td (Street Bank and Trust Company, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 582.57 Td (successor to The First National Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 572.57 Td (of Boston, in its individual capacity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 562.57 Td (and as Owner Trustee, Chemical) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 552.57 Td (Bank, in its individual capacity and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 542.57 Td (as Indenture Trustee under a Trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 532.57 Td (Indenture, APS, and the Owner) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 522.57 Td (Participant named therein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 622.57 Td (28.2 to APSs September30, 1992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 612.57 Td (Form10-Q Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 519.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.40 622.57 Td (11/9/1992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 503.57 Td (99.5a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 400.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 503.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 503.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 503.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 493.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 400.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 503.57 Td (Amendment No.1, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 493.57 Td (August1, 1987, to Participation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 483.57 Td (Agreement, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 473.57 Td (December15, 1986, among PVNGS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 463.57 Td (Funding Corp.,Inc. as Funding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 453.57 Td (Corporation, State Street Bank and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 443.57 Td (Trust Company, as successor to The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 433.57 Td (First National Bank of Boston, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 423.57 Td (Owner Trustee, Chemical Bank, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 413.57 Td (Indenture Trustee, APS, and the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 403.57 Td (Owner Participant named therein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 503.57 Td (28.20 to APSs Form18 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 493.57 Td (Statement No.33-9480 by means of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 483.57 Td (a November6, 1986 Form8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 473.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 400.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 503.57 Td (8/10/1987) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 384.57 Td (99.5b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 261.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 384.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 384.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 384.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 374.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 261.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 384.57 Td (Amendment No.2, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 374.57 Td (March17, 1993, to Participation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 364.57 Td (Agreement, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 354.57 Td (December15, 1986, among PVNGS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 344.57 Td (Funding Corp.,Inc., PVNGS II) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 334.57 Td (Funding Corp.,Inc., State Street) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 324.57 Td (Bank and Trust Company, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 314.57 Td (successor to The First National Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 304.57 Td (of Boston, in its individual capacity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 294.57 Td (and as Owner Trustee, Chemical) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 284.57 Td (Bank, in its individual capacity and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 274.57 Td (as Indenture Trustee, APS, and the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 264.57 Td (Owner Participant named therein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 384.57 Td (28.5 to APSs 1992 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 374.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 261.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 384.57 Td (3/30/1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 245.57 Td (99.6) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 172.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 245.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 245.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 245.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 235.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 172.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 245.57 Td (Trust Indenture, Mortgage Security) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 235.57 Td (Agreement and Assignment of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 225.57 Td (Facility Lease, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 215.57 Td (December15, 1986, between State) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 205.57 Td (Street Bank and Trust Company, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 195.57 Td (successor to The First National Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 185.57 Td (of Boston, as Owner Trustee, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 175.57 Td (Chemical Bank, as Indenture Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 245.57 Td (10.2 to APSs November18, 1986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 235.57 Td (Form10-K Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 172.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 245.57 Td (1/20/1987) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 156.57 Td (99.6a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 63.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 156.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 156.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 156.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 146.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 63.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 156.57 Td (Supplemental Indenture No.1, dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 146.57 Td (as of August1, 1987, to Trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 136.57 Td (Indenture, Mortgage, Security) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 126.57 Td (Agreement and Assignment of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 116.57 Td (Facility Lease, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 106.57 Td (December15, 1986, between State) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 96.57 Td (Street Bank and Trust Company, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 86.57 Td (successor to The First National Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 76.57 Td (of Boston, as Owner Trustee, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 66.57 Td (Chemical Bank, as Indenture Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 156.57 Td (4.13 to APSs Form18 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 146.57 Td (Statement No.33-9480 by means of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 136.57 Td (August1, 1987 Form8-K Report,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 126.57 Td (File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 63.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 156.57 Td (8/24/1987) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 379 0 obj <>] /Rotate 0 /Contents 380 0 R>> endobj 380 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (186) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 732.23 Td (Exhibit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 724.23 Td (No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 108.50 722.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 124.75 724.23 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 187.50 722.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.70 724.23 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.05 724.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 385.34 724.23 Td (eviouslyFiledasExhibit:) Tj ET Q BT /F2 5.00 Tf ET q 0 0 0 rg BT 473.35 724.23 Td (a) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 507.50 722.72 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.80 724.23 Td (Date Filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 710.57 Td (99.6b) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 617.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 710.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 710.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 710.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 700.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 617.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 710.57 Td (Supplemental Indenture No.2 to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 700.57 Td (Trust Indenture Mortgage, Security) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 690.57 Td (Agreement and Assignment of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 680.57 Td (Facility Lease, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 670.57 Td (December15, 1986, between State) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 660.57 Td (Street Bank and Trust Company, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 650.57 Td (successor to The First National Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 640.57 Td (of Boston, as Owner Trustee, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 630.57 Td (Chemical Bank, as Lease Indenture) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 620.57 Td (Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 710.57 Td (4.5 to APSs 1992 Form10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 700.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 617.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 710.57 Td (3/30/1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 601.57 Td (99.7) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 538.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 601.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 601.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 601.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 591.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 538.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 601.57 Td (Assignment, Assumption and Further) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 591.57 Td (Agreement, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 581.57 Td (December15, 1986, between APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 571.57 Td (and State Street Bank and Trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 561.57 Td (Company, as successor to The First) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 551.57 Td (National Bank of Boston, as Owner) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 541.57 Td (Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 601.57 Td (10.5 to APSs November18, 1986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 591.57 Td (Form8-K Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 538.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 601.57 Td (1/20/1987) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 522.57 Td (99.7a) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 449.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 522.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 522.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 522.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 512.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 449.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 522.57 Td (Amendment No.1, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 512.57 Td (March17, 1993, to Assignment,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 502.57 Td (Assumption and Further Agreement,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 492.57 Td (dated as of December15, 1986,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 482.57 Td (between APS and State Street Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 472.57 Td (and Trust Company, as successor to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 462.57 Td (The First National Bank of Boston,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 452.57 Td (as Owner Trustee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 522.57 Td (28.7 to APSs 1992 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 512.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 449.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 522.57 Td (3/30/1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 433.57 Td (99.8) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 70.00 436.74 Td (c) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 420.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 433.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 433.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 433.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 423.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 420.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 433.57 Td (Indemnity Agreement dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 423.57 Td (March17, 1993 by APS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 433.57 Td (28.3 to APSs 1992 Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 423.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 420.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 433.57 Td (3/30/1993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 404.57 Td (99.9) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 371.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 404.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 404.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 404.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 394.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 371.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 404.57 Td (Extension Letter, dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 394.57 Td (August13, 1987, from the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 384.57 Td (signatories of the Participation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 374.57 Td (Agreement to Chemical Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 404.57 Td (28.20 to APSs Form18 Registration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 394.57 Td (Statement No.33-9480 by means of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 384.57 Td (a November6, 1986 Form8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 374.57 Td (Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 371.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.20 404.57 Td (8/10/1987) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 355.57 Td (99.10) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 332.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 355.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 355.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 355.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 345.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 332.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 355.57 Td (ACC Order, Decision No.61969,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 345.57 Td (dated September29, 1999, including) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 335.57 Td (the Retail Electric Competition Rules) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 355.57 Td (10.2 to APSs September30, 1999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 345.57 Td (Form10-Q Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 332.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.90 355.57 Td (11/15/1999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 316.57 Td (99.11) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 273.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 316.57 Td (Pinnacle West) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 273.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 316.57 Td (Purchase Agreement by and among) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 306.57 Td (Pinnacle West Energy Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 296.57 Td (and GenWest, L.L.C. and Nevada) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 286.57 Td (Power Company, dated June21,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 276.57 Td (2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 316.57 Td (99.5 to Pinnacle West/APS June30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 306.57 Td (2005 Form10-Q Report, File Nos.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 296.57 Td (1-8962 and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 273.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.70 316.57 Td (8/9/2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 257.57 Td (101.INS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 244.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 257.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 257.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 257.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 247.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 244.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 257.57 Td (XBRL Instance Document) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 263.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 244.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 263.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 228.57 Td (101.SCH) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 215.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 228.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 228.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 228.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 218.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 215.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 228.57 Td (XBRL Taxonomy Extension Schema) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 218.57 Td (Document) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 234.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 215.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 234.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 199.57 Td (101.CAL) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 186.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 199.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 199.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 199.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 189.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 186.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 199.57 Td (XBRL Taxonomy Extension) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 189.57 Td (Calculation Linkbase Document) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 205.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 186.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 205.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 170.57 Td (101.LAB) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 157.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 170.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 170.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 170.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 160.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 157.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 170.57 Td (XBRL Taxonomy Extension Label) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 160.57 Td (Linkbase Document) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 176.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 157.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 176.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 141.57 Td (101.PRE) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 128.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 141.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 141.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 141.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 131.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 128.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 141.57 Td (XBRL Taxonomy Extension) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 131.57 Td (Presentation Linkbase Document) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 147.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 128.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 147.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 112.57 Td (101.DEF) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 108.50 99.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.75 112.57 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 155.50 112.57 Td (W) Tj ET Q q 0 0 0 rg BT 164.14 112.57 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.80 102.57 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 187.50 99.76 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 112.57 Td (XBRL Taxonomy Definition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.50 102.57 Td (Linkbase Document) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 351.50 118.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 507.50 99.76 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 535.50 118.81 Td () Tj ET Q BT /F1 11.50 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 83 m 300 83 l s BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 81.50 63.70 Td (a) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 84.61 63.70 Td (Reports filed under File No.1-4473 and 1-8962 were filed in the of) Tj ET Q q 0 0 0 rg BT 394.51 63.70 Td (fice of the Securities and Exchange ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.95 Td (Commission located in ) Tj ET Q q 0 0 0 rg BT 158.22 49.95 Td (W) Tj ET Q q 0 0 0 rg BT 168.15 49.95 Td (ashington, D.C.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 381 0 obj <>] /Rotate 0 /Contents 382 0 R>> endobj 382 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (187) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 734.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 81.50 720.75 Td (b) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.00 720.75 Td (Management contract or compensatory plan or arrangement to be filed as an exhibit pursuant to Item ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 706.95 Td (15\(b\)of Form10-K.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.15 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 81.50 679.35 Td (c) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 84.61 679.35 Td (An additional document, substantially identical in all material respects to this Exhibit, has been entered ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 665.55 Td (into, relating to an additional Equity Participant. ) Tj ET Q q 0 0 0 rg BT 276.91 665.55 Td (Although such additional document may dif) Tj ET Q q 0 0 0 rg BT 479.51 665.55 Td (fer in other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 651.75 Td (respects \(such as dollar amounts, percentages, tax indemnity matters, and dates of execution\), there are no ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 637.95 Td (material details in which such document dif) Tj ET Q q 0 0 0 rg BT 250.49 637.95 Td (fers from this Exhibit.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.15 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 81.50 610.35 Td (d) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.00 610.35 Td (Additional agreements, substantially identical in all material respects to this Exhibithave been entered ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 596.55 Td (into with additional persons. ) Tj ET Q q 0 0 0 rg BT 185.58 596.55 Td (Although such additional documents may dif) Tj ET Q q 0 0 0 rg BT 392.66 596.55 Td (fer in other respects \(such as dollar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (amounts and dates of execution\), there are no material details in which such agreements dif) Tj ET Q q 0 0 0 rg BT 469.22 582.75 Td (fer from this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 568.95 Td (Exhibit.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.15 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 81.50 541.35 Td (e) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 84.61 541.35 Td (Furnished herewith as an Exhibit.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 383 0 obj <>] /Rotate 0 /Contents 384 0 R>> endobj 384 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (188) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 269.00 734.75 Td (SIGNA) Tj ET Q q 0 0 0 rg BT 304.57 734.75 Td (TURES) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 306.00 723.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 710.15 Td (Pursuant to the requirements of Section13 or 15\(d\)of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 449.90 710.15 Td (Act of 1934, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 696.35 Td (Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 685.55 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 605.05 m 562 605.05 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.05 665.62 Td (PINNACLE WEST CAPITAL CORPORATION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.60 651.62 Td (\(Registrant\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 609.62 Td (Date: February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.35 609.62 Td (/s/ Donald E. Brandt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.05 595.62 Td (\(Donald E. Brandt, Chairman of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 585.62 Td (the Board of Directors, President and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.85 575.62 Td (Chief Executive Of) Tj ET Q q 0 0 0 rg BT 461.42 575.62 Td (ficer\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 560.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 261.05 546.95 Td (Power) Tj ET Q q 0 0 0 rg BT 292.13 546.95 Td ( of ) Tj ET Q q 0 0 0 rg BT 306.83 546.95 Td (Attorney) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 306.00 536.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 522.35 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 522.35 Td (e, the undersigned directors and executive of) Tj ET Q q 0 0 0 rg BT 301.19 522.35 Td (ficers of Pinnacle ) Tj ET Q q 0 0 0 rg BT 384.33 522.35 Td (W) Tj ET Q q 0 0 0 rg BT 394.26 522.35 Td (est Capital Corporation, hereby ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 508.55 Td (severally appoint James R. Hatfield and David P) Tj ET Q q 0 0 0 rg BT 271.79 508.55 Td (. Falck, and each of them, our true and lawful attorneys with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 494.75 Td (full power to them and each of them to sign for us, and in our names in the capacities indicated below) Tj ET Q q 0 0 0 rg BT 516.61 494.75 Td (, any and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 480.95 Td (all amendments to this ) Tj ET Q q 0 0 0 rg BT 155.55 480.95 Td (Annual Report on Form10-K filed with the Securities and Exchange Commission.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 470.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 81.50 456.35 Td (Pursuant to the requirements of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 341.46 456.35 Td (Act of 1934, this report has been signed below ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 442.55 Td (by the following persons on behalf of the registrant and in the capacities and on the dates indicated.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 431.75 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 367.25 m 239 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 283.25 m 239 283.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 199.25 m 239 199.25 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 127.40 413.33 Td (Signature) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.55 413.33 Td (Title) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.00 413.33 Td (Date) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.85 371.82 Td (/s/ Donald E. Brandt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.50 371.82 Td (Principal Executive Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.50 371.82 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.95 357.82 Td (\(Donald E. Brandt, Chairman) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.50 357.82 Td (and Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.60 343.82 Td (of the Board of Directors, President) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.90 329.82 Td (and Chief Executive Officer\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.30 287.82 Td (/s/ James R. Hatfield) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.50 287.82 Td (Principal Financial Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.50 287.82 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.35 273.82 Td (\(James R. Hatfield,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.35 259.82 Td (Executive Vice President and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.75 245.82 Td (Chief Financial Officer\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.30 203.82 Td (/s/ Denise R. Danner) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.50 203.82 Td (Principal Accounting Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.50 203.82 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.60 189.82 Td (\(Denise R. Danner,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.45 175.82 Td (Vice President, Controller and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.30 161.82 Td (Chief Accounting Officer\)) Tj ET Q BT /F1 11.50 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 50 772.848046875 m 112.15625 772.848046875 l s q 0 0 1 rg BT 50.00 774.10 Td (T) Tj ET Q q 0 0 1 rg BT 54.60 774.10 Td (able of Contents ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 385 0 obj <>] /Rotate 0 /Contents 386 0 R>> endobj 386 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.35 32.55 Td (189) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 728 m 246 728 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 672 m 246 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 616 m 246 616 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 560 m 246 560 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 504 m 246 504 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 448 m 246 448 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 392 m 246 392 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 336 m 246 336 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 280 m 246 280 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.50 732.57 Td (/s/ Denis A. Cortese) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 732.57 Td (Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 732.57 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.05 718.57 Td (\(Denis A. Cortese, M.D.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.90 676.57 Td (/s/ Richard P. Fox) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 676.57 Td (Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 676.57 Td (February 20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.55 662.57 Td (\(Richard P. Fox\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.60 620.57 Td (/s/ Michael L. Gallagher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 620.57 Td (Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 620.57 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.25 606.57 Td (\(Michael L. Gallagher\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.90 564.57 Td (/s/ Roy A. Herberger) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 564.57 Td (Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 564.57 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.80 550.57 Td (\(Roy A. Herberger,Jr., Ph.D.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.15 508.57 Td (/s/ Dale E. Klein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 508.57 Td (Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 508.57 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.90 494.57 Td (\(Dale E. Klein, Ph.D.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.20 452.57 Td (/s/ Humberto S. Lopez) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 452.57 Td (Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 452.57 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.85 438.57 Td (\(Humberto S. Lopez\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.70 396.57 Td (/s/ Kathryn L. 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Gallagher) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 248.50 626.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 620.57 Td (Director) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 437.50 626.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 620.57 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.25 606.57 Td (\(Michael L. 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Herberger) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 248.50 570.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 564.57 Td (Director) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 437.50 570.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 564.57 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.80 550.57 Td (\(Roy A. Herberger,Jr., Ph.D.\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 248.50 556.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 268.50 556.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 437.50 556.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 456.50 556.81 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 147.50 537.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.50 536.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 536.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.50 536.57 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 456.50 537.26 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 147.50 523.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.50 522.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 522.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.50 522.57 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 456.50 523.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.15 508.57 Td (/s/ Dale E. Klein) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 248.50 514.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 508.57 Td (Director) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 437.50 514.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 508.57 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.90 494.57 Td (\(Dale E. Klein, Ph.D.\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 248.50 500.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 268.50 500.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 437.50 500.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 456.50 500.81 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 147.50 481.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.50 480.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 480.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.50 480.57 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 456.50 481.26 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 147.50 467.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.50 466.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 466.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.50 466.57 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 456.50 467.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.20 452.57 Td (/s/ Humberto S. Lopez) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 248.50 458.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 452.57 Td (Director) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 437.50 458.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 452.57 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.85 438.57 Td (\(Humberto S. Lopez\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 248.50 444.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 268.50 444.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 437.50 444.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 456.50 444.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 424.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.50 424.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 424.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.50 424.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 424.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 410.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.50 410.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 410.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.50 410.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 410.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.70 396.57 Td (/s/ Kathryn L. Munro) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 248.50 402.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 396.57 Td (Director) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 437.50 402.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 396.57 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.35 382.57 Td (\(Kathryn L. Munro\)) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 248.50 388.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 268.50 388.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 437.50 388.81 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 456.50 388.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 368.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.50 368.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 368.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.50 368.57 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 456.50 369.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 354.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.50 354.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 354.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.50 354.57 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 456.50 355.26 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.20 340.57 Td (/s/ Bruce J. Nordstrom) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 248.50 346.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 340.57 Td (Director) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 437.50 346.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 340.57 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.85 326.57 Td (\(Bruce J. 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Wagener) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 248.50 290.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 284.57 Td (Director) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 437.50 290.81 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 284.57 Td (February20, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.40 270.57 Td (\(David P. 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