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See the definitions of "lar) Tj ET Q q 0 0 0 rg BT 530.61 683.05 Td (ge ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 669.20 Td (accelerated filer) Tj ET Q q 0 0 0 rg BT 122.77 669.20 Td (," "accelerated filer) Tj ET Q q 0 0 0 rg BT 211.18 669.20 Td (," "smaller reporting company) Tj ET Q q 0 0 0 rg BT 349.48 669.20 Td (," and "emer) Tj ET Q q 0 0 0 rg BT 406.88 669.20 Td (ging growth company" in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 655.40 Td (Rule12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 180.76 655.40 Td (Act.) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 647.00 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 633.20 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 109.03 633.20 Td (WEST) Tj ET Q q 0 0 0 rg BT 140.12 633.20 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 175.30 633.20 Td (AL) Tj ET Q q 0 0 0 rg BT 190.20 633.20 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 246.13 633.20 Td (TION) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 624.80 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 603.83 Td (Lar) Tj ET Q q 0 0 0 rg BT 68.25 603.83 Td (ge accelerated filer ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 158.59 601.34 cm /I11 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 198.50 603.83 Td (Accelerated filer ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 278.31 601.34 cm /I12 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 301.50 603.83 Td (Non-accelerated filer ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 401.74 601.34 cm /I13 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 420.50 603.83 Td (Smaller reporting company ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 549.20 601.34 cm /I14 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 572.33 Td (Emer) Tj ET Q q 0 0 0 rg BT 77.20 572.33 Td (ging growth company ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 181.00 569.84 cm /I15 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 559.40 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 545.60 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 100.61 545.60 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 167.43 545.60 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 228.67 545.60 Td (ANY) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 537.20 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 516.23 Td (Lar) Tj ET Q q 0 0 0 rg BT 68.25 516.23 Td (ge accelerated filer ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 158.59 513.74 cm /I16 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 201.50 516.23 Td (Accelerated filer ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 281.31 513.74 cm /I17 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 298.50 516.23 Td (Non-accelerated filer ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 398.74 513.74 cm /I18 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 419.50 516.23 Td (Smaller reporting company ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 548.20 513.74 cm /I19 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 485.73 Td (Emer) Tj ET Q q 0 0 0 rg BT 77.20 485.73 Td (ging growth company ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 181.00 483.24 cm /I20 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 467.40 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 63.00 453.60 Td (If an emer) Tj ET Q q 0 0 0 rg BT 110.04 453.60 Td (ging growth company) Tj ET Q q 0 0 0 rg BT 210.22 453.60 Td (, indicate by check mark if the registrant has elected not to use the extended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 439.80 Td (transition period for complying with any new or revised financial accounting standards provided pursuant to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 426.00 Td (Section 13\(a\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 190.97 426.00 Td (Act. ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 213.32 423.52 cm /I21 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 67.50 398.40 Td (Indicate by check mark whether each registrant is a shell company \(as defined in Rule12b-2 of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 384.60 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 97.08 384.60 Td (Act\).) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 376.20 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 355.23 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 112.13 355.23 Td (WEST) Tj ET Q q 0 0 0 rg BT 143.23 355.23 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 178.76 355.23 Td (AL) Tj ET Q q 0 0 0 rg BT 193.42 355.23 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 249.76 355.23 Td (TION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 308.50 355.23 Td (Y) Tj ET Q q 0 0 0 rg BT 315.65 355.23 Td (es ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 330.98 352.74 cm /I22 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 340.98 355.23 Td ( No) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 366.54 352.74 cm /I23 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 340.23 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 103.61 340.23 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 170.43 340.23 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 231.67 340.23 Td (ANY) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 308.50 340.23 Td (Y) Tj ET Q q 0 0 0 rg BT 315.65 340.23 Td (es ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 330.98 337.74 cm /I24 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 340.98 340.23 Td ( No) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 10.00 0 0 11.46 366.54 337.74 cm /I25 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 327.80 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 314.00 Td (Indicate the number of shares outstanding of each of the issuer) Tj ET Q q 0 0 0 rg BT 355.98 314.00 Td () Tj ET Q q 0 0 0 rg BT 359.17 314.00 Td (s classes of common stock, as of the latest ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 300.20 Td (practicable date.) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 291.80 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 270.83 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 112.13 270.83 Td (WEST) Tj ET Q q 0 0 0 rg BT 143.23 270.83 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 178.76 270.83 Td (AL) Tj ET Q q 0 0 0 rg BT 193.42 270.83 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 249.76 270.83 Td (TION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 290.50 270.83 Td (Number of shares of common stock, no par value,) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 290.50 259.33 Td (outstanding as of ) Tj ET Q q 0 0 0 rg BT 371.63 259.33 Td (April 25, 2018: 1) Tj ET Q q 0 0 0 rg BT 450.32 259.33 Td (1) Tj ET Q q 0 0 0 rg BT 455.65 259.33 Td (1,933,168) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 243.83 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 103.93 243.83 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 170.89 243.83 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 232.20 243.83 Td (ANY) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 290.50 243.83 Td (Number of shares of common stock, $2.50 par value,) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 290.50 232.33 Td (outstanding as of ) Tj ET Q q 0 0 0 rg BT 371.32 232.33 Td (April 25, 2018: 71,264,947) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 219.40 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 205.60 Td (Arizona Public Service Company meets the conditions set forth in General Instruction H\(1\)) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 191.85 Td (\(a\)and \(b\)of Form10-Q and is ther) Tj ET Q q 0 0 0 rg BT 226.26 191.85 Td (efor) Tj ET Q q 0 0 0 rg BT 245.84 191.85 Td (e filing this form with the r) Tj ET Q q 0 0 0 rg BT 377.87 191.85 Td (educed disclosur) Tj ET Q q 0 0 0 rg BT 459.13 191.85 Td (e format allowed ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 178.05 Td (under) Tj ET Q q 0 0 0 rg BT 78.69 178.05 Td ( that General Instruction.) Tj ET Q endstream endobj 7 0 obj <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 8 0 R>> endobj 8 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.10 32.55 Td (1) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 244.65 743.75 Td (T) Tj ET Q q 0 0 0 rg BT 251.47 743.75 Td (ABLE OF) Tj ET Q q 0 0 0 rg BT 301.20 743.75 Td ( CONTENTS) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527 721.25 m 562 721.25 l s BT /F2 11.50 Tf ET q 0 0 0 rg BT 532.15 723.01 Td (Page) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 710.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 710.78 Td () Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 52.5 695.243408203125 m 187.60595703125 695.243408203125 l s q 0 0 1 rg BT 52.50 696.78 Td (Forward-Looking Statements) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 52.5 681.243408203125 m 77.72998046875 681.243408203125 l s q 0 0 1 rg BT 52.50 682.78 Td (PartI) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET q 0 0 0 rg BT 129.50 682.78 Td () Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 667.243408203125 m 103.07470703125 667.243408203125 l s q 0 0 1 rg BT 70.50 668.78 Td (Item 1.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 667.243408203125 m 225.63671875 667.243408203125 l s q 0 0 1 rg BT 129.50 668.78 Td (Financial Statements) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 654.78 Td () Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 147.5 653.243408203125 m 307.0166015625 653.243408203125 l s q 0 0 1 rg BT 147.50 654.78 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 189.77 654.78 Td (W) Tj ET Q q 0 0 1 rg BT 199.70 654.78 Td (est Capital Corporation) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 640.78 Td () Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 147.5 639.243408203125 m 301.759765625 639.243408203125 l s q 0 0 1 rg BT 147.50 640.78 Td (Arizona Public Service Company) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 625.243408203125 m 103.07470703125 625.243408203125 l s q 0 0 1 rg BT 70.50 626.78 Td (Item 2.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 625.243408203125 m 491.0859375 625.243408203125 l s q 0 0 1 rg BT 129.50 626.78 Td (Management) Tj ET Q q 0 0 1 rg BT 192.73 626.78 Td (s Discussion and ) Tj ET Q q 0 0 1 rg BT 272.28 626.78 Td (Analysis of Financial Condition and Results of ) Tj ET Q BT /F1 11.50 Tf ET 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 613.743408203125 m 179.9599609375 613.743408203125 l s q 0 0 1 rg BT 129.50 615.28 Td (Operations) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 598.243408203125 m 103.07470703125 598.243408203125 l s q 0 0 1 rg BT 70.50 599.78 Td (Item 3.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 598.243408203125 m 407.373046875 598.243408203125 l s q 0 0 1 rg BT 129.50 599.78 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 1 rg BT 318.57 599.78 Td (About Market Risk) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 584.243408203125 m 103.07470703125 584.243408203125 l s q 0 0 1 rg BT 70.50 585.78 Td (Item 4.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 584.243408203125 m 242.56494140625 584.243408203125 l s q 0 0 1 rg BT 129.50 585.78 Td (Controls and Procedures) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 571.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 129.50 571.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 571.78 Td () Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 52.5 556.243408203125 m 81.5595703125 556.243408203125 l s q 0 0 1 rg BT 52.50 557.78 Td (PartII) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET q 0 0 0 rg BT 129.50 557.78 Td () Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 542.243408203125 m 100.19970703125 542.243408203125 l s q 0 0 1 rg BT 70.50 543.78 Td (Item 1) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 100.20 543.78 Td (.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 542.243408203125 m 214.76416015625 542.243408203125 l s q 0 0 1 rg BT 129.50 543.78 Td (Legal Proceedings) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 528.243408203125 m 111.3798828125 528.243408203125 l s q 0 0 1 rg BT 70.50 529.78 Td (Item 1A.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 528.243408203125 m 187.32177734375 528.243408203125 l s q 0 0 1 rg BT 129.50 529.78 Td (Risk Factors) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 514.243408203125 m 103.07470703125 514.243408203125 l s q 0 0 1 rg BT 70.50 515.78 Td (Item 5.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 514.243408203125 m 213.48876953125 514.243408203125 l s q 0 0 1 rg BT 129.50 515.78 Td (Other Information) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 500.243408203125 m 103.07470703125 500.243408203125 l s q 0 0 1 rg BT 70.50 501.78 Td (Item 6.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 500.243408203125 m 167.83642578125 500.243408203125 l s q 0 0 1 rg BT 129.50 501.78 Td (Exhibits) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 52.5 486.243408203125 m 101.05078125 486.243408203125 l s q 0 0 1 rg BT 52.50 487.78 Td (Signatures) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET q 0 0 0 rg BT 129.50 487.78 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 470.95 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 457.15 Td (This combined Form10-Q is separately pr) Tj ET Q q 0 0 0 rg BT 257.57 457.15 Td (ovided by Pinnacle ) Tj ET Q q 0 0 0 rg BT 352.89 457.15 Td (W) Tj ET Q q 0 0 0 rg BT 363.75 457.15 Td (est Capital Corporation \("Pinnacle ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 443.35 Td (W) Tj ET Q q 0 0 0 rg BT 60.37 443.35 Td (est"\) and ) Tj ET Q q 0 0 0 rg BT 107.65 443.35 Td (Arizona Public Service Company \("APS"\). ) Tj ET Q q 0 0 0 rg BT 323.90 443.35 Td (Any use of the words "Company) Tj ET Q q 0 0 0 rg BT 483.32 443.35 Td (," "we," and ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 429.55 Td ("our" r) Tj ET Q q 0 0 0 rg BT 87.29 429.55 Td (efer) Tj ET Q q 0 0 0 rg BT 106.23 429.55 Td ( to Pinnacle ) Tj ET Q q 0 0 0 rg BT 166.39 429.55 Td (W) Tj ET Q q 0 0 0 rg BT 177.26 429.55 Td (est. Each r) Tj ET Q q 0 0 0 rg BT 231.98 429.55 Td (egistrant is pr) Tj ET Q q 0 0 0 rg BT 300.13 429.55 Td (oviding on its own behalf all of the information ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 415.75 Td (contained in this Form10-Q that r) Tj ET Q q 0 0 0 rg BT 218.60 415.75 Td (elates to such r) Tj ET Q q 0 0 0 rg BT 291.53 415.75 Td (egistrant and, wher) Tj ET Q q 0 0 0 rg BT 386.83 415.75 Td (e r) Tj ET Q q 0 0 0 rg BT 399.71 415.75 Td (equir) Tj ET Q q 0 0 0 rg BT 425.70 415.75 Td (ed, its subsidiaries. Except ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 401.95 Td (as stated in the pr) Tj ET Q q 0 0 0 rg BT 136.82 401.95 Td (eceding sentence, neither) Tj ET Q q 0 0 0 rg BT 258.94 401.95 Td ( r) Tj ET Q q 0 0 0 rg BT 266.71 401.95 Td (egistrant is pr) Tj ET Q q 0 0 0 rg BT 334.86 401.95 Td (oviding any information that does not r) Tj ET Q q 0 0 0 rg BT 527.62 401.95 Td (elate ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 388.15 Td (to such r) Tj ET Q q 0 0 0 rg BT 92.10 388.15 Td (egistrant, and ther) Tj ET Q q 0 0 0 rg BT 182.93 388.15 Td (efor) Tj ET Q q 0 0 0 rg BT 202.51 388.15 Td (e makes no r) Tj ET Q q 0 0 0 rg BT 264.58 388.15 Td (epr) Tj ET Q q 0 0 0 rg BT 280.98 388.15 Td (esentation as to any such information. ) Tj ET Q q 0 0 0 rg BT 472.45 388.15 Td (The information ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 374.35 Td (r) Tj ET Q q 0 0 0 rg BT 54.40 374.35 Td (equir) Tj ET Q q 0 0 0 rg BT 80.38 374.35 Td (ed with r) Tj ET Q q 0 0 0 rg BT 124.26 374.35 Td (espect to each company is set forth within the applicable items. Item 1 of this r) Tj ET Q q 0 0 0 rg BT 510.23 374.35 Td (eport ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 360.55 Td (includes Condensed Consolidated Financial Statements of Pinnacle ) Tj ET Q q 0 0 0 rg BT 380.60 360.55 Td (W) Tj ET Q q 0 0 0 rg BT 391.46 360.55 Td (est and Condensed Consolidated ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 346.75 Td (Financial Statements of ) Tj ET Q q 0 0 0 rg BT 167.37 346.75 Td (APS. Item 1 also includes Combined Notes to Condensed Consolidated ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 332.95 Td (Financial Statements.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 552.75 695.243408203125 m 558.5 695.243408203125 l s q 0 0 1 rg BT 552.75 696.78 Td (2) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 552.75 681.243408203125 m 558.5 681.243408203125 l s q 0 0 1 rg BT 552.75 682.78 Td (3) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 552.75 667.243408203125 m 558.5 667.243408203125 l s q 0 0 1 rg BT 552.75 668.78 Td (3) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 552.75 653.243408203125 m 558.5 653.243408203125 l s q 0 0 1 rg BT 552.75 654.78 Td (4) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 547 639.243408203125 m 558.5 639.243408203125 l s q 0 0 1 rg BT 547.00 640.78 Td (10) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 547 625.243408203125 m 558.5 625.243408203125 l s q 0 0 1 rg BT 547.00 626.78 Td (64) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 547 598.243408203125 m 558.5 598.243408203125 l s q 0 0 1 rg BT 547.00 599.78 Td (87) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 547 584.243408203125 m 558.5 584.243408203125 l s q 0 0 1 rg BT 547.00 585.78 Td (87) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 547 556.243408203125 m 558.5 556.243408203125 l s q 0 0 1 rg BT 547.00 557.78 Td (89) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 547 542.243408203125 m 558.5 542.243408203125 l s q 0 0 1 rg BT 547.00 543.78 Td (89) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 547 528.243408203125 m 558.5 528.243408203125 l s q 0 0 1 rg BT 547.00 529.78 Td (89) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 547 514.243408203125 m 558.5 514.243408203125 l s q 0 0 1 rg BT 547.00 515.78 Td (89) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 547 500.243408203125 m 558.5 500.243408203125 l s q 0 0 1 rg BT 547.00 501.78 Td (90) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 547 486.243408203125 m 558.5 486.243408203125 l s q 0 0 1 rg BT 547.00 487.78 Td (92) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 9 0 obj <> endobj 10 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 206.55 743.75 Td (FOR) Tj ET Q q 0 0 0 rg BT 230.42 743.75 Td (W) Tj ET Q q 0 0 0 rg BT 240.65 743.75 Td (ARD-LOOKING ST) Tj ET Q q 0 0 0 rg BT 341.71 743.75 Td (A) Tj ET Q q 0 0 0 rg BT 349.16 743.75 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 723.95 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 723.95 Td (This document contains forward-looking statements based on current expectations. ) Tj ET Q q 0 0 0 rg BT 472.68 723.95 Td (These forward-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 710.15 Td (looking statements are often identified by words such as "estimate," "predict," "may) Tj ET Q q 0 0 0 rg BT 435.34 710.15 Td (," "believe," "plan," ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 696.35 Td ("expect," "require," "intend," "assume," ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 235.23 696.35 Td ("project" and similar words) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 356.32 696.35 Td (. Because actual results may dif) Tj ET Q q 0 0 0 rg BT 504.60 696.35 Td (fer ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 682.55 Td (materially from expectations, we caution readers not to place undue reliance on these statements. ) Tj ET Q q 0 0 0 rg BT 500.72 682.55 Td (A) Tj ET Q q 0 0 0 rg BT 508.39 682.55 Td ( number of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 668.75 Td (factors could cause future results to dif) Tj ET Q q 0 0 0 rg BT 228.13 668.75 Td (fer materially from historical results, or from outcomes currently ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 654.95 Td (expected or sought by Pinnacle ) Tj ET Q q 0 0 0 rg BT 195.88 654.95 Td (W) Tj ET Q q 0 0 0 rg BT 205.81 654.95 Td (est or ) Tj ET Q q 0 0 0 rg BT 233.29 654.95 Td (APS. In addition to the Risk Factors described in PartI,Item 1A) Tj ET Q q 0 0 0 rg BT 532.58 654.95 Td ( of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 641.15 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 641.15 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 641.15 Td (est/APS ) Tj ET Q q 0 0 0 rg BT 141.01 641.15 Td (Annual Report on Form10-K for the fiscal year ended December31, 2017 \("2017 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 627.35 Td (Form10-K"\), Part II, Item 1A) Tj ET Q q 0 0 0 rg BT 187.38 627.35 Td ( of this report and in PartI,Item 2 "Management) Tj ET Q q 0 0 0 rg BT 429.69 627.35 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 509.24 627.35 Td (Analysis of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 613.55 Td (Financial Condition and Results of Operations" of this report, these factors include, but are not limited to:) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 594.05 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 594.05 Td (our ability to manage capital expenditures and operations and maintenance costs while maintaining reliability ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 580.55 Td (and customer service levels;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 567.05 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 567.05 Td (variations in demand for electricity) Tj ET Q q 0 0 0 rg BT 224.83 567.05 Td (, including those due to weather) Tj ET Q q 0 0 0 rg BT 368.09 567.05 Td (, seasonality) Tj ET Q q 0 0 0 rg BT 422.98 567.05 Td (, the general economy) Tj ET Q q 0 0 0 rg BT 521.58 567.05 Td (, ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 553.55 Td (customer and sales growth \(or decline\), and the ef) Tj ET Q q 0 0 0 rg BT 291.90 553.55 Td (fects of ener) Tj ET Q q 0 0 0 rg BT 347.29 553.55 Td (gy conservation measures and distributed ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 540.05 Td (generation;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 526.55 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 526.55 Td (power plant and transmission system performance and outages;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 513.05 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 513.05 Td (competition in retail and wholesale power markets;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 499.55 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 499.55 Td (regulatory and judicial decisions, developments and proceedings;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 486.05 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 486.05 Td (new legislation, ballot initiatives and regulation, including those relating to environmental requirements, ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 472.55 Td (regulatory policy) Tj ET Q q 0 0 0 rg BT 143.93 472.55 Td (, nuclear plant operations and potential deregulation of retail electric markets;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 459.05 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 459.05 Td (fuel and water supply availability;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 445.55 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 445.55 Td (our ability to achieve timely and adequate rate recovery of our costs, including returns on and of debt and ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 432.05 Td (equity capital investment;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 418.55 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 418.55 Td (our ability to meet renewable ener) Tj ET Q q 0 0 0 rg BT 221.29 418.55 Td (gy and ener) Tj ET Q q 0 0 0 rg BT 273.56 418.55 Td (gy ef) Tj ET Q q 0 0 0 rg BT 296.16 418.55 Td (ficiency mandates and recover related costs;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 405.05 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 405.05 Td (risks inherent in the operation of nuclear facilities, including spent fuel disposal uncertainty;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 391.55 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 391.55 Td (current and future economic conditions in ) Tj ET Q q 0 0 0 rg BT 258.07 391.55 Td (Arizona, including in real estate markets;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 378.05 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 378.05 Td (the development of new technologies which may af) Tj ET Q q 0 0 0 rg BT 299.41 378.05 Td (fect electric sales or delivery;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 364.55 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 364.55 Td (the cost of debt and equity capital and the ability to access capital markets when required;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 351.05 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 351.05 Td (environmental, economic and other concerns surrounding coal-fired generation, including regulation of ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 337.55 Td (greenhouse gas emissions;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 324.05 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 324.05 Td (volatile fuel and purchased power costs;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 310.55 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 310.55 Td (the investment performance of the assets of our nuclear decommissioning trust, pension, and other ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 297.05 Td (postretirement benefit plans and the resulting impact on future funding requirements;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 283.55 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 283.55 Td (the liquidity of wholesale power markets and the use of derivative contracts in our business;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 270.05 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 270.05 Td (potential shortfalls in insurance coverage;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 256.55 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 256.55 Td (new accounting requirements or new interpretations of existing requirements;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 243.05 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 243.05 Td (generation, transmission and distribution facility and system conditions and operating costs;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 229.55 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 229.55 Td (the ability to meet the anticipated future need for additional generation and associated transmission facilities ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 216.05 Td (in our region;) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 202.55 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 202.55 Td (the willingness or ability of our counterparties, power plant participants and power plant land owners to meet ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 189.05 Td (contractual or other obligations or extend the rights for continued power plant operations; and) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 49.50 175.55 Td ( ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 175.55 Td (restrictions on dividends or other provisions in our credit agreements and ) Tj ET Q q 0 0 0 rg BT 398.99 175.55 Td (Arizona Corporation Commission ) Tj ET Q BT /F1 11.25 Tf ET q 0 0 0 rg BT 67.50 162.05 Td (\("ACC"\) orders.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 142.25 Td (These and other factors are discussed in the Risk Factors described in PartI,Item 1A) Tj ET Q q 0 0 0 rg BT 467.40 142.25 Td ( of our 2017 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 128.45 Td (Form10-K, and in Part II, Item 1A) Tj ET Q q 0 0 0 rg BT 210.16 128.45 Td ( of this report, which readers should review carefully before placing any ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 114.65 Td (reliance on our financial statements or disclosures. Neither Pinnacle ) Tj ET Q q 0 0 0 rg BT 367.68 114.65 Td (W) Tj ET Q q 0 0 0 rg BT 377.61 114.65 Td (est nor ) Tj ET Q q 0 0 0 rg BT 410.83 114.65 Td (APS assumes any obligation to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.85 Td (update these statements, even if our internal estimates change, except as required by law) Tj ET Q q 0 0 0 rg BT 455.26 100.85 Td (.) Tj ET Q 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 (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.15 744.75 Td (P) Tj ET Q q 0 0 0 rg BT 221.52 744.75 Td (AR) Tj ET Q q 0 0 0 rg BT 235.61 744.75 Td (T) Tj ET Q q 0 0 0 rg BT 242.10 744.75 Td (I FINANCIAL) Tj ET Q q 0 0 0 rg BT 319.61 744.75 Td ( INFORMA) Tj ET Q q 0 0 0 rg BT 370.25 744.75 Td (TION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 730.95 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 718.95 Td (ITEM 1. FINANCIAL) Tj ET Q q 0 0 0 rg BT 147.29 718.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 161.28 718.95 Td (A) Tj ET Q q 0 0 0 rg BT 167.76 718.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 705.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 92.95 691.35 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 134.26 691.35 Td (T) Tj ET Q q 0 0 0 rg BT 141.08 691.35 Td (O FINANCIAL) Tj ET Q q 0 0 0 rg BT 213.80 691.35 Td ( ST) Tj ET Q q 0 0 0 rg BT 229.18 691.35 Td (A) Tj ET Q q 0 0 0 rg BT 236.21 691.35 Td (TEMENTS ) Tj ET Q q 0 0 0 rg BT 291.48 691.35 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 380.81 691.35 Td ( ST) Tj ET Q q 0 0 0 rg BT 396.19 691.35 Td (A) Tj ET Q q 0 0 0 rg BT 403.22 691.35 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 449.64 691.35 Td ( SCHEDULES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 677.55 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 654.05 m 563 654.05 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 658.28 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.25 658.28 Td (Page) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 646.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.50 645.30 Td () Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 629.2367187499999 m 283.0625 629.2367187499999 l s q 0 0 1 rg BT 52.50 630.30 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 81.90 630.30 Td (W) Tj ET Q q 0 0 1 rg BT 88.81 630.30 Td (est Condensed Consolidated Statements of Income for ) Tj ET Q q 0 0 1 rg BT 264.41 630.30 Td (Three) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 283.0625 629.2367187499999 m 416.37890625 629.2367187499999 l s q 0 0 1 rg BT 283.06 630.30 Td ( Months Ended March 31, 2018 and 2017) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 614.2367187499999 m 337.2734375 614.2367187499999 l s q 0 0 1 rg BT 52.50 615.30 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 81.90 615.30 Td (W) Tj ET Q q 0 0 1 rg BT 88.81 615.30 Td (est Condensed Consolidated Statements of Comprehensive Income for ) Tj ET Q q 0 0 1 rg BT 316.62 615.30 Td (Three ) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 337.2734375 614.2367187499999 m 468.58984375 614.2367187499999 l s q 0 0 1 rg BT 337.27 615.30 Td (Months Ended March 31, 2018 and 2017) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 599.2367187499999 m 249.4453125 599.2367187499999 l s q 0 0 1 rg BT 52.50 600.30 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 81.90 600.30 Td (W) Tj ET Q q 0 0 1 rg BT 88.81 600.30 Td (est Condensed Consolidated Balance Sheets as of ) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 249.4453125 599.2367187499999 m 378.7421875 599.2367187499999 l s q 0 0 1 rg BT 249.45 600.30 Td (March 31, 2018 and December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 584.2367187499999 m 278.056640625 584.2367187499999 l s q 0 0 1 rg BT 52.50 585.30 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 81.90 585.30 Td (W) Tj ET Q q 0 0 1 rg BT 88.81 585.30 Td (est Condensed Consolidated Statements of Cash Flows for ) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 278.056640625 584.2367187499999 m 429.953125 584.2367187499999 l s q 0 0 1 rg BT 277.98 585.30 Td (Three Months Ended March 31, 2018 and 2017) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 569.2367187499999 m 299.599609375 569.2367187499999 l s q 0 0 1 rg BT 52.50 570.30 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 81.90 570.30 Td (W) Tj ET Q q 0 0 1 rg BT 88.81 570.30 Td (est Condensed Consolidated Statements of Changes in Equity for ) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 299.599609375 569.2367187499999 m 451.49609375 569.2367187499999 l s q 0 0 1 rg BT 299.53 570.30 Td (Three Months Ended March 31, 2018 and 2017) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 557.30 Td () Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 540.2367187499999 m 254.5390625 540.2367187499999 l s q 0 0 1 rg BT 52.50 541.30 Td (APS Condensed Consolidated Statements of Income for ) Tj ET Q q 0 0 1 rg BT 233.89 541.30 Td (Three ) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 254.5390625 540.2367187499999 m 385.85546875 540.2367187499999 l s q 0 0 1 rg BT 254.54 541.30 Td (Months Ended March 31, 2018 and 2017) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 524.2367187499999 m 306.75 524.2367187499999 l s q 0 0 1 rg BT 52.50 525.30 Td (APS Condensed Consolidated Statements of Comprehensive Income for ) Tj ET Q q 0 0 1 rg BT 286.10 525.30 Td (Three ) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 306.75 524.2367187499999 m 438.06640625 524.2367187499999 l s q 0 0 1 rg BT 306.75 525.30 Td (Months Ended March 31, 2018 and 2017) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 508.23671874999997 m 218.921875 508.23671874999997 l s q 0 0 1 rg BT 52.50 509.30 Td (APS Condensed Consolidated Balance Sheets as of ) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 218.921875 508.23671874999997 m 348.21875 508.23671874999997 l s q 0 0 1 rg BT 218.92 509.30 Td (March 31, 2018 and December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 494.23671874999997 m 247.533203125 494.23671874999997 l s q 0 0 1 rg BT 52.50 495.30 Td (APS Condensed Consolidated Statements of Cash Flows for ) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 247.533203125 494.23671874999997 m 399.4296875 494.23671874999997 l s q 0 0 1 rg BT 247.46 495.30 Td (Three Months Ended March 31, 2018 and 2017) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 480.23671874999997 m 269.076171875 480.23671874999997 l s q 0 0 1 rg BT 52.50 481.30 Td (APS Condensed Consolidated Statements of Changes in Equity for ) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 269.076171875 480.23671874999997 m 420.97265625 480.23671874999997 l s q 0 0 1 rg BT 269.00 481.30 Td (Three Months Ended March 31, 2018 and 2017) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 450.23671874999997 m 265.36328125 450.23671874999997 l s q 0 0 1 rg BT 52.50 451.30 Td (Combined Notes to Condensed Consolidated Financial Statements) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 434.23671874999997 m 206.0234375 434.23671874999997 l s q 0 0 1 rg BT 52.50 435.30 Td (Note 1. Consolidation and Nature of Operations) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 418.23671874999997 m 106.0390625 418.23671874999997 l s q 0 0 1 rg BT 52.50 419.30 Td (Note 2. Revenue) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 402.23671874999997 m 203.68359375 402.23671874999997 l s q 0 0 1 rg BT 52.50 403.30 Td (Note 3. Long-T) Tj ET Q q 0 0 1 rg BT 101.93 403.30 Td (erm Debt and Liquidity Matters) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 386.23671874999997 m 140.03515625 386.23671874999997 l s q 0 0 1 rg BT 52.50 387.30 Td (Note 4. Regulatory Matters) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 370.23671874999997 m 244.01171875 370.23671874999997 l s q 0 0 1 rg BT 52.50 371.30 Td (Note 5. Retirement Plans and Other Postretirement Benefits) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 354.23671874999997 m 245.25 354.23671874999997 l s q 0 0 1 rg BT 52.50 355.30 Td (Note 6. Palo ) Tj ET Q q 0 0 1 rg BT 94.13 355.30 Td (V) Tj ET Q q 0 0 1 rg BT 99.02 355.30 Td (erde Sale Leaseback ) Tj ET Q q 0 0 1 rg BT 166.17 355.30 Td (V) Tj ET Q q 0 0 1 rg BT 171.06 355.30 Td (ariable Interest Entities) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 338.23671874999997 m 150.6953125 338.23671874999997 l s q 0 0 1 rg BT 52.50 339.30 Td (Note 7. Derivative ) Tj ET Q q 0 0 1 rg BT 113.37 339.30 Td (Accounting) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 322.23671874999997 m 184.70703125 322.23671874999997 l s q 0 0 1 rg BT 52.50 323.30 Td (Note 8. Commitments and Contingencies) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 306.23671874999997 m 185.12109375 306.23671874999997 l s q 0 0 1 rg BT 52.50 307.30 Td (Note 9. Other Income and Other Expense) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 290.23671874999997 m 143.3671875 290.23671874999997 l s q 0 0 1 rg BT 52.50 291.30 Td (Note 10. Earnings Per Share) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 274.2367187499999 m 163.36328125 274.2367187499999 l s q 0 0 1 rg BT 52.50 275.30 Td (Note 1) Tj ET Q q 0 0 1 rg BT 73.75 275.30 Td (1. Fair ) Tj ET Q q 0 0 1 rg BT 96.50 275.30 Td (V) Tj ET Q q 0 0 1 rg BT 101.39 275.30 Td (alue Measurements) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 258.2367187499999 m 330.24609375 258.2367187499999 l s q 0 0 1 rg BT 52.50 259.30 Td (Note 12. Investment in Nuclear Decommissioning ) Tj ET Q q 0 0 1 rg BT 215.21 259.30 Td (T) Tj ET Q q 0 0 1 rg BT 219.82 259.30 Td (rusts and Other Special Use Funds) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 242.2367187499999 m 169.58984375 242.2367187499999 l s q 0 0 1 rg BT 52.50 243.30 Td (Note 13. New ) Tj ET Q q 0 0 1 rg BT 98.71 243.30 Td (Accounting Standards) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 226.2367187499999 m 251.5703125 226.2367187499999 l s q 0 0 1 rg BT 52.50 227.30 Td (Note 14. Changes in ) Tj ET Q q 0 0 1 rg BT 119.38 227.30 Td (Accumulated Other Comprehensive Loss) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 210.2367187499999 m 126.4375 210.2367187499999 l s q 0 0 1 rg BT 52.50 211.30 Td (Note 15. Income ) Tj ET Q q 0 0 1 rg BT 107.89 211.30 Td (T) Tj ET Q q 0 0 1 rg BT 112.22 211.30 Td (axes) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 629.2367187499999 m 541.5 629.2367187499999 l s q 0 0 1 rg BT 537.50 630.30 Td (4) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 614.2367187499999 m 541.5 614.2367187499999 l s q 0 0 1 rg BT 537.50 615.30 Td (5) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 599.2367187499999 m 541.5 599.2367187499999 l s q 0 0 1 rg BT 537.50 600.30 Td (6) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 584.2367187499999 m 541.5 584.2367187499999 l s q 0 0 1 rg BT 537.50 585.30 Td (8) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 569.2367187499999 m 541.5 569.2367187499999 l s q 0 0 1 rg BT 537.50 570.30 Td (9) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 540.2367187499999 m 543.5 540.2367187499999 l s q 0 0 1 rg BT 535.50 541.30 Td (10) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.6 524.2367187499999 m 543.303125 524.2367187499999 l s q 0 0 1 rg BT 535.60 525.30 Td (1) Tj ET Q q 0 0 1 rg BT 539.30 525.30 Td (1) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 508.23671874999997 m 543.5 508.23671874999997 l s q 0 0 1 rg BT 535.50 509.30 Td (12) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 494.23671874999997 m 543.5 494.23671874999997 l s q 0 0 1 rg BT 535.50 495.30 Td (14) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 480.23671874999997 m 543.5 480.23671874999997 l s q 0 0 1 rg BT 535.50 481.30 Td (15) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 450.23671874999997 m 543.5 450.23671874999997 l s q 0 0 1 rg BT 535.50 451.30 Td (16) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 434.23671874999997 m 543.5 434.23671874999997 l s q 0 0 1 rg BT 535.50 435.30 Td (16) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 418.23671874999997 m 543.5 418.23671874999997 l s q 0 0 1 rg BT 535.50 419.30 Td (17) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 402.23671874999997 m 543.5 402.23671874999997 l s q 0 0 1 rg BT 535.50 403.30 Td (18) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 386.23671874999997 m 543.5 386.23671874999997 l s q 0 0 1 rg BT 535.50 387.30 Td (20) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 370.23671874999997 m 543.5 370.23671874999997 l s q 0 0 1 rg BT 535.50 371.30 Td (32) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 354.23671874999997 m 543.5 354.23671874999997 l s q 0 0 1 rg BT 535.50 355.30 Td (34) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 338.23671874999997 m 543.5 338.23671874999997 l s q 0 0 1 rg BT 535.50 339.30 Td (35) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 322.23671874999997 m 543.5 322.23671874999997 l s q 0 0 1 rg BT 535.50 323.30 Td (39) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 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Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 572.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 558.62 Td (Fuel and purchased power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 557.72 Td (197,1) Tj ET Q q 0 0 0 rg BT 488.15 557.72 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 557.72 Td (212,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 543.62 Td (Operations and maintenance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 542.72 Td (265,682) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 542.72 Td (226,071) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 528.62 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 527.72 Td (144,825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 527.72 Td (127,627) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 513.62 Td (T) Tj ET Q q 0 0 0 rg BT 64.26 513.62 Td (axes other than income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 512.72 Td (53,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 512.72 Td (43,836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 498.62 Td (Other expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 497.72 Td (163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 497.72 Td (388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 483.62 Td (T) Tj ET Q q 0 0 0 rg BT 76.26 483.62 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 482.72 Td (661,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 482.72 Td (610,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 468.62 Td (OPERA) Tj ET Q q 0 0 0 rg BT 84.73 468.62 Td (TING INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 467.72 Td (31,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 467.72 Td (67,41) Tj ET Q q 0 0 0 rg BT 554.15 467.72 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 453.62 Td (OTHER INCOME \(DEDUCTIONS\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.50 452.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 452.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 438.62 Td (Allowance for equity funds used during construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 437.72 Td (14,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 437.72 Td (9,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 423.62 Td (Pension and other postretirement non-service credits - net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 422.72 Td (12,859) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 422.72 Td (6,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 408.62 Td (Other income \(Note 9\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 407.72 Td (3,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 407.72 Td (480) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 393.62 Td (Other expense \(Note 9\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.30 392.77 Td (\(3,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 392.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 392.77 Td (\(3,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 392.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 378.62 Td (T) Tj ET Q q 0 0 0 rg BT 76.26 378.62 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 377.72 Td (27,694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 377.72 Td (12,377) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 363.62 Td (INTEREST) Tj ET Q q 0 0 0 rg BT 99.63 363.62 Td ( EXPENSE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.50 362.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 362.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 348.62 Td (Interest char) Tj ET Q q 0 0 0 rg BT 108.10 348.62 Td (ges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 347.72 Td (58,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 347.72 Td (51,864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 333.62 Td (Allowance for borrowed funds used during construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.30 332.77 Td (\(6,755) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 332.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 332.77 Td (\(4,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 332.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 318.62 Td (T) Tj ET Q q 0 0 0 rg BT 75.91 318.62 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 317.72 Td (52,199) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 317.72 Td (47,392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 303.62 Td (INCOME BEFORE INCOME ) Tj ET Q q 0 0 0 rg BT 177.14 303.62 Td (T) Tj ET Q q 0 0 0 rg BT 182.75 303.62 Td (AXES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 302.72 Td (6,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 302.72 Td (32,396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 287.72 Td (INCOME ) Tj ET Q q 0 0 0 rg BT 94.35 287.72 Td (T) Tj ET Q q 0 0 0 rg BT 99.97 287.72 Td (AXES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.30 287.77 Td (\(1,265) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 287.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 287.72 Td (4,21) Tj ET Q q 0 0 0 rg BT 554.15 287.72 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 272.72 Td (NET) Tj ET Q q 0 0 0 rg BT 71.85 272.72 Td ( INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 272.72 Td (8,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 272.72 Td (28,185) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 257.72 Td (Less: Net income attributable to noncontrolling interests \(Note 6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 257.72 Td (4,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 257.72 Td (4,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 232.72 Td (NET) Tj ET Q q 0 0 0 rg BT 71.85 232.72 Td ( INCOME ) Tj ET Q q 0 0 0 rg BT 115.93 232.72 Td (A) Tj ET Q q 0 0 0 rg BT 122.32 232.72 Td (TTRIBUT) Tj ET Q q 0 0 0 rg BT 163.58 232.72 Td (ABLE ) Tj ET Q q 0 0 0 rg BT 191.70 232.72 Td (T) Tj ET Q q 0 0 0 rg BT 197.62 232.72 Td (O COMMON SHAREHOLDERS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.50 232.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 232.72 Td (3,221) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.50 232.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 232.72 Td (23,312) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 193.72 Td (WEIGHTED-A) Tj ET Q q 0 0 0 rg BT 115.17 193.72 Td (VERAGE COMMON SHARES OUTST) Tj ET Q q 0 0 0 rg BT 278.86 193.72 Td (ANDING BASIC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 193.72 Td (1) Tj ET Q q 0 0 0 rg BT 470.65 193.72 Td (12,017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 193.72 Td (1) Tj ET Q q 0 0 0 rg BT 531.65 193.72 Td (1) Tj ET Q q 0 0 0 rg BT 536.65 193.72 Td (1,728) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 168.72 Td (WEIGHTED-A) Tj ET Q q 0 0 0 rg BT 114.52 168.72 Td (VERAGE COMMON SHARES OUTST) Tj ET Q q 0 0 0 rg BT 278.46 168.72 Td (ANDING DILUTED) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 168.72 Td (1) Tj ET Q q 0 0 0 rg BT 470.65 168.72 Td (12,493) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 168.72 Td (1) Tj ET Q q 0 0 0 rg BT 531.65 168.72 Td (12,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 140.62 Td (EARNINGS PER ) Tj ET Q q 0 0 0 rg BT 126.22 140.62 Td (WEIGHTED-A) Tj ET Q q 0 0 0 rg BT 188.24 140.62 Td (VERAGE COMMON SHARE OUTST) Tj ET Q q 0 0 0 rg BT 346.61 140.62 Td (ANDING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.50 129.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 129.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 115.62 Td (Net income attributable to common shareholders basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.50 114.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 114.72 Td (0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.50 114.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 114.72 Td (0.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 100.62 Td (Net income attributable to common shareholders diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.50 99.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 99.72 Td (0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.50 99.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 99.72 Td (0.21) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 67.75 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 55.75 Td (The accompanying notes are an integral part of the financial statements.) Tj ET Q endstream endobj 15 0 obj <> endobj 16 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 186.75 743.75 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 743.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 743.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 743.75 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 743.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 743.75 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 94.50 729.95 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 238.38 729.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 278.12 729.95 Td (A) Tj ET Q q 0 0 0 rg BT 285.57 729.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 360.22 729.95 Td ( COMPREHENSIVE INCOME) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 279.45 716.15 Td (\(unaudited\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 702.35 Td (\(dollars in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.00 690.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 641.85 398.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 641.85 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 641.85 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 641.85 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 612.85 398.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 612.85 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 612.85 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 612.85 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 583.85 398.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 583.85 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 583.85 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 583.85 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 553.85 398.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 553.85 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 553.85 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 553.85 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 523.85 398.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 523.85 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 523.85 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 523.85 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 494.85 398.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 494.85 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 494.85 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 494.85 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 464.85 398.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 464.85 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 464.85 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 464.85 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 448 655.85 m 503 655.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 655.85 m 508 655.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 655.85 m 563 655.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 641.85 m 503 641.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 641.85 m 563 641.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 641.85 m 503 641.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 641.85 m 563 641.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 612.85 m 503 612.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 612.85 m 563 612.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 523.85 m 503 523.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 508.85 m 503 508.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 523.85 m 563 523.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 508.85 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 448 464.85 m 503 464.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 464.85 m 563 464.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 436.85 m 503 436.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 434.85 m 503 434.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 436.85 m 563 436.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 434.85 m 563 434.85 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 660.53 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.50 670.53 Td (Thr) Tj ET Q q 0 0 0 rg BT 476.08 670.53 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.90 660.53 Td (Mar) Tj ET Q q 0 0 0 rg BT 503.19 660.53 Td (ch 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 646.53 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.00 646.53 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.00 646.53 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 618.42 Td (NET) Tj ET Q q 0 0 0 rg BT 71.76 618.42 Td ( INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 617.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 617.52 Td (8,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 617.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 617.52 Td (28,185) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 589.42 Td (OTHER COMPREHENSIVE INCOME, NET) Tj ET Q q 0 0 0 rg BT 238.43 589.42 Td ( OF ) Tj ET Q q 0 0 0 rg BT 256.03 589.42 Td (T) Tj ET Q q 0 0 0 rg BT 261.34 589.42 Td (AX) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 588.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 588.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 574.42 Td (Derivative instruments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 573.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 573.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 559.42 Td (Net unrealized loss, net of tax expense of $96 and $674) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.80 558.57 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 558.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 558.57 Td (\(770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 558.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 544.42 Td (Reclassification of net realized loss, net of tax expense \(benefit\) of \($82\) and $356) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 543.52 Td (409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 543.52 Td (1,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 529.42 Td (Pension and other postretirement benefits activity) Tj ET Q q 0 0 0 rg BT 250.41 529.42 Td (, net of tax expense of $443 and $704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 528.52 Td (900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 528.52 Td (522) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 514.42 Td (T) Tj ET Q q 0 0 0 rg BT 75.91 514.42 Td (otal other comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 513.52 Td (1,213) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 513.52 Td (959) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 485.42 Td (COMPREHENSIVE INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 484.52 Td (9,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 484.52 Td (29,144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 470.42 Td (Less: Comprehensive income attributable to noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 469.52 Td (4,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 469.52 Td (4,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 440.52 Td (COMPREHENSIVE INCOME ) Tj ET Q q 0 0 0 rg BT 180.29 440.52 Td (A) Tj ET Q q 0 0 0 rg BT 186.40 440.52 Td (TTRIBUT) Tj ET Q q 0 0 0 rg BT 227.82 440.52 Td (ABLE ) Tj ET Q q 0 0 0 rg BT 256.25 440.52 Td (T) Tj ET Q q 0 0 0 rg BT 262.17 440.52 Td (O COMMON SHAREHOLDERS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 440.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 440.52 Td (4,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 440.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 440.52 Td (24,271) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 424.35 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 412.35 Td (The accompanying notes are an integral part of the financial statements.) 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/GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 132.85000000000002 m 491 132.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 130.85000000000002 m 491 130.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 132.85000000000002 m 563 132.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 130.85000000000002 m 563 130.85000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 659.53 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 432.05 670.14 Td (Mar) Tj ET Q q 0 0 0 rg BT 451.78 670.14 Td (ch 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 444.50 659.64 Td (2018) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 497.95 670.14 Td (December) Tj ET Q q 0 0 0 rg BT 543.23 670.14 Td ( 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 518.00 659.64 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 645.42 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 644.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 644.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 616.42 Td (CURRENT) Tj ET Q q 0 0 0 rg BT 99.08 616.42 Td ( ) Tj ET Q q 0 0 0 rg BT 101.21 616.42 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 615.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 615.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 601.42 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 600.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 600.52 Td (15,440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.50 600.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 600.52 Td (13,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 586.42 Td (Customer and other receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 585.52 Td (212,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 585.52 Td (305,147) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 571.42 Td (Accrued unbilled revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 570.52 Td (1) Tj ET Q q 0 0 0 rg BT 459.65 570.52 Td (18,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 570.52 Td (1) Tj ET Q q 0 0 0 rg BT 531.65 570.52 Td (12,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 556.42 Td (Allowance for doubtful accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.30 555.57 Td (\(2,046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 555.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 555.57 Td (\(2,513) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 555.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 541.42 Td (Materials and supplies \(at average cost\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 540.52 Td (257,815) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 540.52 Td (264,012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 526.42 Td (Fossil fuel \(at average cost\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 525.52 Td (48,062) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 525.52 Td (25,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 511.42 Td (Assets from risk management activities \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 510.52 Td (1,994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 510.52 Td (1,931) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 496.42 Td (Deferred fuel and purchased power regulatory asset \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 495.52 Td (74,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 495.52 Td (75,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 481.42 Td (Other regulatory assets \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 480.52 Td (178,490) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 480.52 Td (172,451) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 466.42 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 465.52 Td (51,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 465.52 Td (48,039) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 451.42 Td (T) Tj ET Q q 0 0 0 rg BT 76.26 451.42 Td 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BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 390.52 Td (58,177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 390.52 Td (52,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 376.42 Td (T) Tj ET Q q 0 0 0 rg BT 76.26 376.42 Td (otal investments and other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 375.52 Td (1,137,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 375.52 Td (955,582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 360.97 Td (PROPER) Tj ET Q q 0 0 0 rg BT 89.69 360.97 Td (TY) Tj ET Q q 0 0 0 rg BT 101.73 360.97 Td (, PLANT) Tj ET Q q 0 0 0 rg BT 138.77 360.97 Td ( ) Tj ET Q q 0 0 0 rg BT 140.72 360.97 Td (AND EQUIPMENT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 360.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 360.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 346.42 Td (Plant in service and held for future use) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 345.52 Td (17,896,772) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 345.52 Td (17,798,061) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 331.42 Td (Accumulated depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.80 330.57 Td (\(6,231,918) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 330.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.80 330.57 Td (\(6,128,535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 330.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 316.42 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 315.52 Td (1) Tj ET Q q 0 0 0 rg BT 447.15 315.52 Td (1,664,854) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 315.52 Td (1) Tj ET Q q 0 0 0 rg BT 519.15 315.52 Td (1,669,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 301.42 Td (Construction work in progress) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 300.52 Td (1,453,610) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 300.52 Td (1,291,498) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 286.42 Td (Palo ) Tj ET Q q 0 0 0 rg BT 78.69 286.42 Td (V) Tj ET Q q 0 0 0 rg BT 85.27 286.42 Td (erde sale leaseback, net of accumulated depreciation \(Note 6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 285.52 Td (108,678) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 285.52 Td (109,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 271.42 Td (Intangible assets, net of accumulated amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 270.52 Td (262,523) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 270.52 Td (257,189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 256.42 Td (Nuclear fuel, net of accumulated amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 255.52 Td (135,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 255.52 Td (1) Tj ET Q q 0 0 0 rg BT 531.65 255.52 Td (17,408) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 241.42 Td (T) Tj ET Q q 0 0 0 rg BT 76.26 241.42 Td (otal property) Tj ET Q q 0 0 0 rg BT 126.96 241.42 Td (, plant and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 240.52 Td (13,625,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 240.52 Td (13,445,266) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 226.42 Td (DEFERRED DEBITS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 225.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 225.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 211.42 Td (Regulatory assets \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 210.52 Td (1,200,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 210.52 Td (1,202,302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 196.42 Td (Assets for other postretirement benefits \(Note 5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 195.52 Td (89,378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 195.52 Td (268,978) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 181.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 180.52 Td (138,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 180.52 Td (130,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 166.42 Td (T) Tj ET Q q 0 0 0 rg BT 75.91 166.42 Td (otal deferred debits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 165.52 Td (1,428,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 165.52 Td (1,601,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 137.42 Td (T) Tj ET Q q 0 0 0 rg BT 58.43 137.42 Td (OT) Tj ET Q q 0 0 0 rg BT 70.96 137.42 Td (AL) Tj ET Q q 0 0 0 rg BT 83.92 137.42 Td ( ) Tj ET Q q 0 0 0 rg BT 85.86 137.42 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 136.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 136.52 Td (17,148,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.50 136.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 136.52 Td (17,019,082) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 120.35 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 108.35 Td (The accompanying notes are an integral part of the financial statements.) 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 484.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 484.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 456.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 456.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 456.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 456.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 428.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 428.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 428.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 428.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 400.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 400.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 400.75 4.00 -14.00 re f /GS0 gs 0.8 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i [] 0 d 0 J 0 j 3 M 420 484.75 m 490 484.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 470.75 m 490 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 484.75 m 562 484.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 470.75 m 562 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 456.75 m 490 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 456.75 m 562 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 302.75 m 490 302.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 288.75 m 490 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 302.75 m 562 302.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 288.75 m 562 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 224.75 m 490 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 210.75 m 490 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 224.75 m 562 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 210.75 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 420 182.75 m 490 182.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 182.75 m 562 182.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 154.75 m 490 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 154.75 m 562 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 140.75 m 490 140.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 140.75 m 562 140.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 123.75 m 490 123.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 121.75 m 490 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 123.75 m 562 123.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 121.75 m 562 121.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 675.43 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 431.55 686.04 Td (Mar) Tj ET Q q 0 0 0 rg BT 451.28 686.04 Td (ch 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 444.00 675.54 Td (2018) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 496.95 686.04 Td (December) Tj ET Q q 0 0 0 rg BT 542.23 686.04 Td ( 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 517.00 675.54 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 661.32 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 110.93 661.32 Td (AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.50 661.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 661.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 643.32 Td (CURRENT) Tj ET Q q 0 0 0 rg BT 98.08 643.32 Td ( LIABILITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.50 643.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 643.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 629.32 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 629.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 629.32 Td (205,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 629.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 629.32 Td (256,442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 615.32 Td (Accrued taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 615.32 Td (194,930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 615.32 Td (148,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 601.32 Td (Accrued interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 601.32 Td (51,335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 601.32 Td (56,397) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 587.32 Td (Common dividends payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 587.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 587.32 Td (77,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 573.32 Td (Short-term borrowings \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 573.32 Td (369,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 573.32 Td (95,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 559.32 Td (Current maturities of long-term debt \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 559.32 Td (582,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 559.32 Td (82,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 545.32 Td (Customer deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 545.32 Td (75,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 545.32 Td (70,388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 531.32 Td (Liabilities from risk management activities \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 531.32 Td (67,743) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 531.32 Td (59,252) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 517.32 Td (Liabilities for asset retirements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 517.32 Td (6,397) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 517.32 Td (4,745) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 503.32 Td (Regulatory liabilities \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 503.32 Td (136,535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 503.32 Td (100,086) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 489.32 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 489.32 Td (184,623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 489.32 Td (246,529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 475.32 Td (T) Tj ET Q q 0 0 0 rg BT 75.26 475.32 Td (otal current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 475.32 Td (1,874,391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 475.32 Td (1,197,852) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 461.32 Td (LONG-TERM DEBT) Tj ET Q q 0 0 0 rg BT 138.90 461.32 Td ( LESS CURRENT) Tj ET Q q 0 0 0 rg BT 213.73 461.32 Td ( MA) Tj ET Q q 0 0 0 rg BT 231.70 461.32 Td (TURITIES \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 461.32 Td (4,290,533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 461.32 Td (4,789,713) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 447.32 Td (DEFERRED CREDITS ) Tj ET Q q 0 0 0 rg BT 149.56 447.32 Td (AND OTHER) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.50 447.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 447.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 433.32 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 433.32 Td (1,689,601) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 433.32 Td (1,690,805) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 419.32 Td (Regulatory liabilities \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 419.32 Td (2,415,417) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 419.32 Td (2,452,536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 405.32 Td (Liabilities for asset retirements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 405.32 Td (677,629) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 405.32 Td (674,784) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 391.32 Td (Liabilities for pension benefits \(Note 5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 391.32 Td (284,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 391.32 Td (327,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 377.32 Td (Liabilities from risk management activities \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 377.32 Td (47,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 377.32 Td (37,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 363.32 Td (Customer advances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 363.32 Td (109,629) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 363.32 Td (1) Tj ET Q q 0 0 0 rg BT 530.65 363.32 Td (13,996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 349.32 Td (Coal mine reclamation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 349.32 Td (231,512) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 349.32 Td (231,597) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 335.32 Td (Deferred investment tax credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 335.32 Td (205,428) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 335.32 Td (205,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 321.32 Td (Unrecognized tax benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 321.32 Td (13,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 321.32 Td (13,1) Tj ET Q q 0 0 0 rg BT 548.15 321.32 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 307.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 307.32 Td (155,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 307.32 Td (148,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 293.32 Td (T) Tj ET Q q 0 0 0 rg BT 75.26 293.32 Td (otal deferred credits and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 293.32 Td (5,829,71) Tj ET Q q 0 0 0 rg BT 481.15 293.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 293.32 Td (5,895,787) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 279.32 Td (COMMITMENTS ) Tj ET Q q 0 0 0 rg BT 128.73 279.32 Td (AND CONTINGENCIES \(SEE NOTE 8\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 265.32 Td (EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.50 265.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 265.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 251.32 Td (Common stock, no par value; authorized 150,000,000 shares, 1) Tj ET Q q 0 0 0 rg BT 310.04 251.32 Td (1) Tj ET Q q 0 0 0 rg BT 314.67 251.32 Td (1,961,963 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 241.37 Td (1) Tj ET Q q 0 0 0 rg BT 62.31 241.37 Td (1) Tj ET Q q 0 0 0 rg BT 66.94 241.37 Td (1,816,170 issued at respective dates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 243.42 Td (2,620,261) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 243.42 Td (2,614,805) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 229.32 Td (T) Tj ET Q q 0 0 0 rg BT 63.43 229.32 Td (reasury stock at cost; 29,097 and 64,463 shares at respective dates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.30 229.37 Td (\(2,431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 229.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 229.37 Td (\(5,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 229.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 215.32 Td (T) Tj ET Q q 0 0 0 rg BT 75.26 215.32 Td (otal common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 215.32 Td (2,617,830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 215.32 Td (2,609,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 201.32 Td (Retained earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 201.32 Td (2,454,268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 201.32 Td (2,442,51) Tj ET Q q 0 0 0 rg BT 553.15 201.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 187.32 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.30 187.37 Td (\(52,341) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 187.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 187.37 Td (\(45,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 187.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 173.32 Td (T) Tj ET Q q 0 0 0 rg BT 63.26 173.32 Td (otal shareholders) Tj ET Q q 0 0 0 rg BT 133.90 173.32 Td ( equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 173.32 Td (5,019,757) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 173.32 Td (5,006,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 159.32 Td (Noncontrolling interests \(Note 6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 159.32 Td (133,914) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 159.32 Td (129,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 145.32 Td (T) Tj ET Q q 0 0 0 rg BT 74.91 145.32 Td (otal equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 145.32 Td (5,153,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 145.32 Td (5,135,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 127.32 Td (T) Tj ET Q q 0 0 0 rg BT 57.43 127.32 Td (OT) Tj ET Q q 0 0 0 rg BT 69.96 127.32 Td (AL) Tj ET Q q 0 0 0 rg BT 82.92 127.32 Td ( LIABILITIES ) Tj ET Q q 0 0 0 rg BT 144.57 127.32 Td (AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 127.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 127.32 Td (17,148,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 127.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.15 127.32 Td (17,019,082) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 111.25 Td (The accompanying notes are an integral part of the financial statements.) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.10 32.55 Td (8) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 185.30 743.75 Td ( PINNACLE ) Tj ET Q q 0 0 0 rg BT 250.90 743.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 283.93 743.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 321.74 743.75 Td (AL) Tj ET Q q 0 0 0 rg BT 337.08 743.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 397.24 743.75 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 133.50 729.95 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 277.38 729.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 317.12 729.95 Td (A) Tj ET Q q 0 0 0 rg BT 324.57 729.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 399.22 729.95 Td ( CASH FLOWS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 279.45 716.15 Td (\(unaudited\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 702.35 Td (\(dollars in thousands\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 652.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 652.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 652.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 652.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 628.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 628.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 628.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 628.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 604.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 604.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 604.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 604.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 580.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 580.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 580.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 580.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 556.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 556.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 556.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 556.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 532.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 532.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 532.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 532.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 508.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 508.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 508.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 508.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 484.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 484.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 484.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 484.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 460.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 460.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 460.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 460.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 436.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 436.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 436.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 436.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 412.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 412.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 412.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 412.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 388.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 388.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 388.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 388.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 364.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 364.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 364.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 364.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 340.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 340.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 340.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 340.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 316.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 316.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 316.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 316.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 292.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 292.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 292.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 292.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 268.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 268.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 268.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 268.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 244.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 244.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 244.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 244.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 220.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 220.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 220.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 220.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 196.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 196.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 196.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 196.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 172.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 172.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 172.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 172.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 148.85 369.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 148.85 70.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 148.85 4.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 148.85 70.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 127.85 369.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 127.85 70.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 127.85 4.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 127.85 70.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 106.85 369.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 106.85 70.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 106.85 4.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 106.85 70.00 -9.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 664.85 m 489 664.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 664.85 m 493 664.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 664.85 m 563 664.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 664.85 m 489 664.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 652.85 m 489 652.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 664.85 m 563 664.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 652.85 m 563 652.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 364.85 m 489 364.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 352.85 m 489 352.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 364.85 m 563 364.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 352.85 m 563 352.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 268.85 m 489 268.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 256.85 m 489 256.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 268.85 m 563 268.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 256.85 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 419 160.85000000000002 m 489 160.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 148.85000000000002 m 489 148.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 160.85000000000002 m 563 160.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 148.85000000000002 m 563 148.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 106.85000000000002 m 489 106.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 106.85000000000002 m 563 106.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 86.85000000000002 m 489 86.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 84.85000000000002 m 489 84.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 86.85000000000002 m 563 86.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 84.85000000000002 m 563 84.85000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 669.53 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.00 679.53 Td (Thr) Tj ET Q q 0 0 0 rg BT 461.58 679.53 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.40 669.53 Td (Mar) Tj ET Q q 0 0 0 rg BT 488.69 669.53 Td (ch 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 655.58 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.50 655.58 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 655.58 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 643.47 Td (CASH FLOWS FROM OPERA) Tj ET Q q 0 0 0 rg BT 181.14 643.47 Td (TING ) Tj ET Q q 0 0 0 rg BT 206.69 643.47 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 631.47 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 631.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 631.47 Td (8,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 631.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 631.47 Td (28,185) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 619.47 Td (Adjustments to reconcile net income to net cash provided by operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 607.47 Td (Depreciation and amortization including nuclear fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 607.47 Td (163,566) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 607.47 Td (147,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 595.47 Td (Deferred fuel and purchased power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 595.47 Td (\(18,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 595.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 595.47 Td (\(988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 595.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 583.47 Td (Deferred fuel and purchased power amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 583.47 Td (20,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 583.47 Td (\(4,172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 583.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 571.47 Td (Allowance for equity funds used during construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 571.47 Td (\(14,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 571.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 571.47 Td (\(9,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 571.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 559.47 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 559.47 Td (\(229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 559.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 559.47 Td (10,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 547.47 Td (Deferred investment tax credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 547.47 Td (\(147) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 547.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 547.47 Td (\(344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 547.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 535.47 Td (Change in derivative instruments fair value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 535.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 535.47 Td (\(101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 535.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 523.47 Td (Stock compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 523.47 Td (10,537) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 523.47 Td (9,997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 511.47 Td (Changes in current assets and liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 499.47 Td (Customer and other receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 499.47 Td (89,518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 499.47 Td (47,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 487.47 Td (Accrued unbilled revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 487.47 Td (\(6,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 487.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 487.47 Td (6,723) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 475.47 Td (Materials, supplies and fossil fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 475.47 Td (\(16,607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 475.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 475.47 Td (\(667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 475.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 463.47 Td (Income tax receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 463.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 463.47 Td (\(5,780) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 463.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 451.47 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 451.47 Td (\(664) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 451.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 451.47 Td (\(17,353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 451.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 439.47 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 439.47 Td (\(25,738) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 439.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 439.47 Td (22,147) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 427.47 Td (Accrued taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 427.47 Td (45,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 427.47 Td (43,706) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 415.47 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 415.47 Td (\(12,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 415.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 415.47 Td (\(101,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 415.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 403.47 Td (Change in mar) Tj ET Q q 0 0 0 rg BT 117.28 403.47 Td (gin and collateral accounts assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 403.47 Td (\(396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 403.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.80 403.47 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 403.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 391.47 Td (Change in mar) Tj ET Q q 0 0 0 rg BT 117.28 391.47 Td (gin and collateral accounts liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 391.47 Td (\(1,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 391.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 391.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 379.47 Td (Change in other long-term assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 379.47 Td (\(3,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 379.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 379.47 Td (\(36,836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 379.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 367.47 Td (Change in other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 367.47 Td (\(70,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 367.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 367.47 Td (1,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 355.47 Td (Net cash flow provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 355.47 Td (166,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 355.47 Td (140,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 343.47 Td (CASH FLOWS FROM INVESTING ) Tj ET Q q 0 0 0 rg BT 204.46 343.47 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 331.47 Td (Capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 331.47 Td (\(361,037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 331.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 331.47 Td (\(348,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 331.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 319.47 Td (Contributions in aid of construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 319.47 Td (8,569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 319.47 Td (5,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 307.47 Td (Allowance for borrowed funds used during construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 307.47 Td (\(6,755) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 307.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 307.47 Td (\(4,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 307.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 295.47 Td (Proceeds from nuclear decommissioning trust sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 295.47 Td (130,456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 295.47 Td (151,126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 283.47 Td (Investment in nuclear decommissioning trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 283.47 Td (\(131,027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 283.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 283.47 Td (\(151,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 283.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 271.47 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 271.47 Td (\(1,299) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 271.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 271.47 Td (\(793) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 271.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 259.47 Td (Net cash flow used for investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 259.47 Td (\(361,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 259.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 259.47 Td (\(348,684) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 259.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 247.47 Td (CASH FLOWS FROM FINANCING ) Tj ET Q q 0 0 0 rg BT 206.14 247.47 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 235.47 Td (Issuance of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 235.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 235.47 Td (255,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 223.47 Td (Short-term borrowing and payments net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 223.47 Td (263,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 223.47 Td (22,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 211.47 Td (Short-term debt borrowings under revolving credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 211.47 Td (36,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 211.47 Td (8,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 199.47 Td (Short-term debt repayments under revolving credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 199.47 Td (\(25,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 199.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 199.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 187.47 Td (Dividends paid on common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 187.47 Td (\(75,903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 187.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 187.47 Td (\(71,177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 187.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 175.47 Td (Common stock equity issuance - net of purchases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 175.47 Td (\(2,828) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 175.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 175.47 Td (\(1) Tj ET Q q 0 0 0 rg BT 536.63 175.47 Td (1,580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 175.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 163.47 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 163.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.80 163.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 163.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 151.47 Td (Net cash flow provided by financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 151.47 Td (195,769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 151.47 Td (202,780) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 130.47 Td (NET) Tj ET Q q 0 0 0 rg BT 71.85 130.47 Td ( INCREASE \(DECREASE\) IN CASH ) Tj ET Q q 0 0 0 rg BT 228.43 130.47 Td (AND CASH EQUIV) Tj ET Q q 0 0 0 rg BT 311.95 130.47 Td (ALENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 130.47 Td (1,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 130.47 Td (\(5,853) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 130.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 109.47 Td (CASH ) Tj ET Q q 0 0 0 rg BT 81.40 109.47 Td (AND CASH EQUIV) Tj ET Q q 0 0 0 rg BT 164.92 109.47 Td (ALENTS ) Tj ET Q q 0 0 0 rg BT 204.83 109.47 Td (A) Tj ET Q q 0 0 0 rg BT 211.22 109.47 Td (T) Tj ET Q q 0 0 0 rg BT 216.69 109.47 Td ( BEGINNING OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 109.47 Td (13,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 109.47 Td (8,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 88.47 Td (CASH ) Tj ET Q q 0 0 0 rg BT 81.12 88.47 Td (AND CASH EQUIV) Tj ET Q q 0 0 0 rg BT 164.28 88.47 Td (ALENTS ) Tj ET Q q 0 0 0 rg BT 204.56 88.47 Td (A) Tj ET Q q 0 0 0 rg BT 210.67 88.47 Td (T) Tj ET Q q 0 0 0 rg BT 216.60 88.47 Td ( END OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 88.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 88.47 Td (15,440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 88.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 88.47 Td (3,028) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 74.35 Td (The accompanying notes are an integral part of the financial statements.) 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gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 654.85 m 343 654.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 640.85 m 343 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 654.85 m 392 654.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 640.85 m 392 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 640.85 m 453 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 640.85 m 512 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 640.85 m 563 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 640.85 m 210 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 640.85 m 257 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 640.85 m 299 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 640.85 m 343 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 640.85 m 392 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 640.85 m 453 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 640.85 m 512 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 640.85 m 563 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 531.85 m 210 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 511.85 m 210 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 509.85 m 210 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 531.85 m 214 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 511.85 m 214 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 509.85 m 214 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 531.85 m 257 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 511.85 m 257 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 509.85 m 257 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257 531.85 m 261 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257 511.85 m 261 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257 509.85 m 261 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 531.85 m 299 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 511.85 m 299 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 509.85 m 299 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299 531.85 m 303 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299 511.85 m 303 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299 509.85 m 303 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 531.85 m 343 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 511.85 m 343 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 509.85 m 343 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 531.85 m 347 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 511.85 m 347 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 509.85 m 347 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 531.85 m 392 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 511.85 m 392 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 509.85 m 392 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 531.85 m 396 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 511.85 m 396 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 509.85 m 396 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 531.85 m 453 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 511.85 m 453 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 509.85 m 453 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 531.85 m 457 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 511.85 m 457 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 509.85 m 457 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 531.85 m 512 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 511.85 m 512 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 509.85 m 512 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 531.85 m 516 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 511.85 m 516 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 509.85 m 516 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 531.85 m 563 531.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 511.85 m 563 511.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 509.85 m 563 509.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 340.85 m 210 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 340.85 m 214 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 340.85 m 257 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257 340.85 m 261 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 340.85 m 299 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299 340.85 m 303 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 340.85 m 343 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 340.85 m 347 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 340.85 m 392 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 340.85 m 396 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 340.85 m 453 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 340.85 m 457 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 340.85 m 512 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 340.85 m 516 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 340.85 m 563 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 320.85 m 210 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 318.85 m 210 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 320.85 m 214 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 318.85 m 214 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 320.85 m 257 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 318.85 m 257 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257 320.85 m 261 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257 318.85 m 261 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 320.85 m 299 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 318.85 m 299 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299 320.85 m 303 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299 318.85 m 303 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 320.85 m 343 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 318.85 m 343 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 320.85 m 347 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 318.85 m 347 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 320.85 m 392 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 318.85 m 392 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 320.85 m 396 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 318.85 m 396 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 320.85 m 453 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 318.85 m 453 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 320.85 m 457 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 318.85 m 457 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 320.85 m 512 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 318.85 m 512 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 320.85 m 516 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 318.85 m 516 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 320.85 m 563 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 318.85 m 563 318.85 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 184.45 659.10 Td (Common Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.30 659.10 Td (T) Tj ET Q q 0 0 0 rg BT 282.05 659.10 Td (reasury Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.75 667.10 Td (Retained) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.75 659.10 Td (Earnings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.65 683.10 Td (Accumulated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.85 675.10 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.85 667.10 Td (Comprehensive) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.75 659.10 Td (Income \(Loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.55 667.10 Td (Noncontrolling) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.40 659.10 Td (Interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.80 659.10 Td (T) Tj ET Q q 0 0 0 rg BT 535.13 659.10 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.00 645.31 Td (Shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 220.20 645.31 Td (Amount) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 267.50 645.31 Td (Shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.70 645.31 Td (Amount) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 624.31 Td (Balance, January 1, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 166.75 624.10 Td (1) Tj ET Q q 0 0 0 rg BT 170.75 624.10 Td (1) Tj ET Q q 0 0 0 rg BT 174.75 624.10 Td (1,392,053) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.50 624.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.75 624.10 Td (2,596,030) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.10 624.10 Td (\(55,317) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.80 624.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.50 624.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.10 624.10 Td (\(4,133) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 624.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.50 624.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 624.10 Td (2,255,547) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.50 624.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.10 624.10 Td (\(43,822) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.80 624.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.50 624.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.75 624.10 Td (132,290) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.50 624.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 624.10 Td (4,935,912) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 610.31 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.80 610.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.75 610.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.75 610.10 Td (23,312) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.80 610.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.80 610.10 Td (4,873) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.75 610.10 Td (28,185) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 596.31 Td (Other comprehensive income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.80 596.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.75 596.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 596.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.80 596.10 Td (959) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 596.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.80 596.10 Td (959) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 582.31 Td (Issuance of common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.75 582.10 Td (194,995) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.10 582.10 Td (\(988) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.80 582.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.75 582.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 582.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.80 582.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 582.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.10 582.10 Td (\(988) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 582.10 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 568.31 Td (Purchase of treasury stock \(a\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.80 568.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.10 568.10 Td (\(153,470) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.80 568.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.10 568.10 Td (\(12,141) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 568.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 568.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.80 568.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 568.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.10 568.10 Td (\(12,141) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 568.10 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 554.31 Td (Reissuance of treasury stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 545.31 Td (for stock-based) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 536.31 Td (compensation and other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.80 536.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.80 536.10 Td (179,592) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 317.75 536.10 Td (14,004) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.80 536.10 Td (8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.80 536.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.80 536.10 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.75 536.10 Td (14,013) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 515.31 Td (Balance, March 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 166.75 515.10 Td (1) Tj ET Q q 0 0 0 rg BT 170.75 515.10 Td (1) Tj ET Q q 0 0 0 rg BT 174.75 515.10 Td (1,587,048) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.50 515.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.75 515.10 Td (2,595,042) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.10 515.10 Td (\(29,195) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.80 515.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.50 515.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.10 515.10 Td (\(2,270) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 515.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.50 515.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 515.10 Td (2,278,867) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.50 515.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.10 515.10 Td (\(42,863) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.80 515.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.50 515.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.75 515.10 Td (137,164) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.50 515.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 515.10 Td (4,965,940) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 479.31 Td (Balance, January 1, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 166.75 479.10 Td (1) Tj ET Q q 0 0 0 rg BT 170.75 479.10 Td (1) Tj ET Q q 0 0 0 rg BT 174.75 479.10 Td (1,816,170) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.50 479.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.75 479.10 Td (2,614,805) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.10 479.10 Td (\(64,463) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.80 479.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.50 479.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.10 479.10 Td (\(5,624) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 479.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.50 479.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 479.10 Td (2,442,51) Tj ET Q q 0 0 0 rg BT 384.75 479.10 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.50 479.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.10 479.10 Td (\(45,002) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.80 479.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.50 479.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.75 479.10 Td (129,040) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.50 479.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 479.10 Td (5,135,730) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 465.31 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.80 465.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.75 465.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.75 465.10 Td (3,221) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.80 465.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.80 465.10 Td (4,873) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.75 465.10 Td (8,094) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 451.31 Td (Other comprehensive income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.80 451.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.75 451.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 451.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.80 451.10 Td (1,213) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 451.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.75 451.10 Td (1,213) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 437.31 Td (Dividends on common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.80 437.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.75 437.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.10 437.10 Td (\(16) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 437.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.80 437.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 437.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 549.10 437.10 Td (\(16) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 437.10 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 423.31 Td (Issuance of common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.75 423.10 Td (145,793) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.75 423.10 Td (5,456) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.75 423.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 423.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.80 423.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 423.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.75 423.10 Td (5,456) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 409.31 Td (Purchase of treasury stock \(a\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.80 409.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.10 409.10 Td (\(81,177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.80 409.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.10 409.10 Td (\(6,277) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 409.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 409.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.80 409.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 409.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.10 409.10 Td (\(6,277) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 409.10 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 395.31 Td (Reissuance of treasury stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 386.31 Td (for stock-based) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 377.31 Td (compensation and other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.80 377.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.80 377.10 Td (1) Tj ET Q q 0 0 0 rg BT 273.80 377.10 Td (16,543) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.75 377.10 Td (9,470) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 377.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.80 377.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.80 377.10 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.75 377.10 Td (9,471) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 363.31 Td (Reclassification of income ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 354.31 Td (tax ef) Tj ET Q q 0 0 0 rg BT 72.57 354.31 Td (fects related to new tax ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 345.31 Td (reform \(See Note 13\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.80 345.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.75 345.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.75 345.10 Td (8,552) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.10 345.10 Td (\(8,552) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.80 345.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 345.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.80 345.10 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 324.31 Td (Balance, March 31, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 166.75 324.10 Td (1) Tj ET Q q 0 0 0 rg BT 170.75 324.10 Td (1) Tj ET Q q 0 0 0 rg BT 174.75 324.10 Td (1,961,963) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.50 324.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.75 324.10 Td (2,620,261) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.10 324.10 Td (\(29,097) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.80 324.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.50 324.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.10 324.10 Td (\(2,431) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 324.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.50 324.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 324.10 Td (2,454,268) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.50 324.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.10 324.10 Td (\(52,341) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.80 324.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.50 324.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.75 324.10 Td (133,914) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.50 324.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 324.10 Td (5,153,671) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 302.35 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 302.35 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 121.50 302.35 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 49.50 272.35 Td (The accompanying notes are an integral part of the financial statements.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (10) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 729.75 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 729.75 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 729.75 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 729.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 147.40 715.95 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.28 715.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 331.02 715.95 Td (A) Tj ET Q q 0 0 0 rg BT 338.47 715.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 413.12 715.95 Td ( INCOME) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 279.45 702.15 Td (\(unaudited\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 688.35 Td (\(dollars in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.00 676.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 625.85 391.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 625.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 625.85 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 625.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 625.85 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 594.85 391.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 594.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 594.85 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 594.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 594.85 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 564.85 391.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 564.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 564.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 564.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 564.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 532.85 391.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 532.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 532.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 532.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 532.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 500.85 391.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 500.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 500.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 500.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 500.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 468.85 391.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 468.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 468.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 468.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 468.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 436.85 391.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 436.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 436.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 436.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 436.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 404.85 391.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 404.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 404.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 404.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 404.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 372.85 391.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 372.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 372.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 372.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 372.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 340.85 391.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 340.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 340.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 340.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 340.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 308.85 391.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 308.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 308.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 308.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 308.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 276.85 391.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 276.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 276.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 276.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 276.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 244.85 391.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 244.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 244.85 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 244.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 244.85 57.00 -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 445 640.85 m 502 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 640.85 m 506 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 640.85 m 563 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 640.85 m 502 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 625.85 m 502 625.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 640.85 m 563 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 625.85 m 563 625.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 594.85 m 502 594.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 594.85 m 563 594.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 484.85 m 502 484.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 484.85 m 563 484.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 468.85 m 502 468.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 468.85 m 563 468.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 452.85 m 502 452.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 452.85 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 445 372.85 m 502 372.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 372.85 m 563 372.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 356.85 m 502 356.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 356.85 m 563 356.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 308.85 m 502 308.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 308.85 m 563 308.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 292.85 m 502 292.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 292.85 m 563 292.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 260.85 m 502 260.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 260.85 m 563 260.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 228.85000000000002 m 502 228.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 228.85000000000002 m 563 228.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 202.85000000000002 m 502 202.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 200.85000000000002 m 502 200.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 202.85000000000002 m 563 202.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 200.85000000000002 m 563 200.85000000000002 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 645.75 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 455.75 656.14 Td (Thr) Tj ET Q q 0 0 0 rg BT 473.16 656.14 Td (ee Months Ended) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 479.20 645.64 Td (Mar) Tj ET Q q 0 0 0 rg BT 501.55 645.64 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 630.75 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 462.50 630.64 Td (2018) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 523.50 630.64 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 600.72 Td (OPERA) Tj ET Q q 0 0 0 rg BT 87.95 600.72 Td (TING REVENUES) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 447.50 599.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.00 599.77 Td (692,006) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 508.50 599.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 599.77 Td (677,589) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 570.72 Td (OPERA) Tj ET Q q 0 0 0 rg BT 87.95 570.72 Td (TING EXPENSES) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 498.50 569.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 569.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 554.72 Td (Fuel and purchased power) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.00 553.77 Td (202,010) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 553.77 Td (217,104) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 538.72 Td (Operations and maintenance) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.00 537.77 Td (254,601) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 537.77 Td (219,008) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 522.72 Td (Depreciation and amortization) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.00 521.77 Td (144,1) Tj ET Q q 0 0 0 rg BT 486.75 521.77 Td (12) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 521.77 Td (127,208) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 506.72 Td (T) Tj ET Q q 0 0 0 rg BT 64.83 506.72 Td (axes other than income taxes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 505.77 Td (53,242) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 505.77 Td (43,564) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 490.72 Td (Other expenses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 481.30 489.77 Td (163) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.30 489.77 Td (436) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 474.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 474.72 Td (otal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.00 473.77 Td (654,128) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 473.77 Td (607,320) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 458.72 Td (OPERA) Tj ET Q q 0 0 0 rg BT 87.95 458.72 Td (TING INCOME) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 457.77 Td (37,878) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 457.77 Td (70,269) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 442.72 Td (OTHER INCOME \(DEDUCTIONS\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 498.50 441.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 441.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 426.72 Td (Allowance for equity funds used during construction) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 425.77 Td (14,079) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.00 425.77 Td (9,482) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 410.72 Td (Pension and other postretirement non-service credits - net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 409.77 Td (13,197) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.00 409.77 Td (6,042) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 394.72 Td (Other income \(Note 9\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.00 393.77 Td (3,772) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.30 393.77 Td (342) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 378.72 Td (Other expense \(Note 9\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 469.35 377.77 Td (\(2,945) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 497.80 377.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 530.35 377.77 Td (\(3,128) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 377.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 362.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 362.72 Td (otal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 361.77 Td (28,103) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 361.77 Td (12,738) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 346.72 Td (INTEREST) Tj ET Q q 0 0 0 rg BT 104.34 346.72 Td ( EXPENSE) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 498.50 345.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 345.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 330.72 Td (Interest char) Tj ET Q q 0 0 0 rg BT 113.06 330.72 Td (ges) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 329.77 Td (56,158) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 329.77 Td (50,796) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 314.72 Td (Allowance for borrowed funds used during construction) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 469.35 313.77 Td (\(6,755) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 497.80 313.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 530.35 313.77 Td (\(4,472) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 313.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 298.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.45 298.72 Td (otal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 297.77 Td (49,403) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 297.77 Td (46,324) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 282.72 Td (INCOME BEFORE INCOME ) Tj ET Q q 0 0 0 rg BT 189.60 282.72 Td (T) Tj ET Q q 0 0 0 rg BT 195.78 282.72 Td (AXES) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 281.77 Td (16,578) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 281.77 Td (36,683) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 266.72 Td (INCOME ) Tj ET Q q 0 0 0 rg BT 98.54 266.72 Td (T) Tj ET Q q 0 0 0 rg BT 104.72 266.72 Td (AXES) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.00 265.77 Td (2,106) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.00 265.77 Td (8,648) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 250.72 Td (NET) Tj ET Q q 0 0 0 rg BT 73.68 250.72 Td ( INCOME) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 249.77 Td (14,472) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 249.77 Td (28,035) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 233.77 Td (Less: Net income attributable to noncontrolling interests \(Note 6\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.00 233.77 Td (4,873) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.00 233.77 Td (4,873) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 206.77 Td (NET) Tj ET Q q 0 0 0 rg BT 73.68 206.77 Td ( INCOME ) Tj ET Q q 0 0 0 rg BT 121.96 206.77 Td (A) Tj ET Q q 0 0 0 rg BT 128.69 206.77 Td (TTRIBUT) Tj ET Q q 0 0 0 rg BT 174.25 206.77 Td (ABLE ) Tj ET Q q 0 0 0 rg BT 205.52 206.77 Td (T) Tj ET Q q 0 0 0 rg BT 212.04 206.77 Td (O COMMON SHAREHOLDER) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 447.50 206.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.00 206.77 Td (9,599) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 508.50 206.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 206.77 Td (23,162) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 190.35 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 178.35 Td (The accompanying notes are an integral part of the financial statements.) Tj ET Q endstream endobj 27 0 obj <> endobj 28 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 /F2 11.50 Tf ET q 0 0 0 rg BT 197.25 743.75 Td ( ) Tj ET Q q 0 0 0 rg BT 199.49 743.75 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 253.17 743.75 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 324.34 743.75 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 390.24 743.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 94.50 729.95 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 238.38 729.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 278.12 729.95 Td (A) Tj ET Q q 0 0 0 rg BT 285.57 729.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 360.22 729.95 Td ( COMPREHENSIVE INCOME) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 279.45 716.15 Td (\(unaudited\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 702.35 Td (\(dollars in thousands\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 688.55 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 640.05 388.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 640.05 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 640.05 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 640.05 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 611.05 388.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 611.05 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 611.05 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 611.05 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 582.05 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 582.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 582.05 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 582.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 552.05 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 552.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 552.05 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 552.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 522.05 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 522.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 522.05 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 522.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 493.05 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 493.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 493.05 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 493.05 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 463.05 388.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 463.05 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 463.05 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 463.05 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 438 654.05 m 498 654.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 654.05 m 503 654.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 654.05 m 563 654.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 654.05 m 498 654.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 640.05 m 498 640.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 654.05 m 563 654.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 640.05 m 563 640.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 640.05 m 498 640.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 640.05 m 563 640.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 611.05 m 498 611.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 611.05 m 563 611.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 522.05 m 498 522.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 507.05 m 498 507.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 522.05 m 563 522.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 507.05 m 563 507.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 463.05 m 498 463.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 463.05 m 563 463.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 435.05 m 498 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 433.05 m 498 433.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 435.05 m 563 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 433.05 m 563 433.05 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 658.73 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.50 668.73 Td (Thr) Tj ET Q q 0 0 0 rg BT 471.08 668.73 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.90 658.73 Td (Mar) Tj ET Q q 0 0 0 rg BT 498.19 658.73 Td (ch 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 644.73 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 644.73 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.50 644.73 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 616.62 Td (NET) Tj ET Q q 0 0 0 rg BT 71.76 616.62 Td ( INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 615.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 615.72 Td (14,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 615.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 615.72 Td (28,035) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 587.62 Td (OTHER COMPREHENSIVE INCOME, NET) Tj ET Q q 0 0 0 rg BT 238.43 587.62 Td ( OF ) Tj ET Q q 0 0 0 rg BT 256.03 587.62 Td (T) Tj ET Q q 0 0 0 rg BT 261.34 587.62 Td (AX) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 586.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 586.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 572.62 Td (Derivative instruments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 571.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 571.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 557.62 Td (Net unrealized loss, net of tax expense $96 and $674) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.80 556.77 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 556.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 556.77 Td (\(770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 556.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 542.62 Td (Reclassification of net realized loss, net of tax expense \(benefit\) of \($82\) and $356) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 541.72 Td (409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 541.72 Td (1,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 527.62 Td (Pension and other postretirement benefits activity) Tj ET Q q 0 0 0 rg BT 250.41 527.62 Td (, net of tax expense of $306 and $590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 526.72 Td (857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 526.72 Td (61) Tj ET Q q 0 0 0 rg BT 554.15 526.72 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 512.62 Td (T) Tj ET Q q 0 0 0 rg BT 75.91 512.62 Td (otal other comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 511.72 Td (1,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 511.72 Td (1,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 483.62 Td (COMPREHENSIVE INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 482.72 Td (15,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 482.72 Td (29,083) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 468.62 Td (Less: Comprehensive income attributable to noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 467.72 Td (4,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 467.72 Td (4,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 438.72 Td (COMPREHENSIVE INCOME ) Tj ET Q q 0 0 0 rg BT 180.29 438.72 Td (A) Tj ET Q q 0 0 0 rg BT 186.40 438.72 Td (TTRIBUT) Tj ET Q q 0 0 0 rg BT 227.82 438.72 Td (ABLE ) Tj ET Q q 0 0 0 rg BT 256.25 438.72 Td (T) Tj ET Q q 0 0 0 rg BT 262.17 438.72 Td (O COMMON SHAREHOLDER) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 438.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 438.72 Td (10,769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 438.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 438.72 Td (24,210) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 422.55 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 410.55 Td (The accompanying notes are an integral part of the financial statements.) 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w 0 i [] 0 d 0 J 0 j 3 M 419 588.85 m 489 588.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 588.85 m 563 588.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 508.85 m 489 508.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 494.85 m 489 494.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 508.85 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 493 494.85 m 563 494.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 428.85 m 489 428.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 414.85 m 489 414.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 428.85 m 563 428.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 414.85 m 563 414.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 247.85000000000002 m 489 247.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 233.85000000000002 m 489 233.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 247.85000000000002 m 563 247.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 233.85000000000002 m 563 233.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 167.85000000000002 m 489 167.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 153.85000000000002 m 489 153.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 167.85000000000002 m 563 167.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 153.85000000000002 m 563 153.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 127.85000000000002 m 489 127.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 125.85000000000002 m 489 125.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 127.85000000000002 m 563 127.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 125.85000000000002 m 563 125.85000000000002 l s BT /F2 10.50 Tf ET q 0 0 0 rg BT 430.55 670.14 Td (Mar) Tj ET Q q 0 0 0 rg BT 450.28 670.14 Td (ch 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 443.00 659.64 Td (2018) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 496.95 670.14 Td (December) Tj ET Q q 0 0 0 rg BT 542.23 670.14 Td ( 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 517.00 659.64 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 644.72 Td (ASSETS) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 485.50 644.90 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 559.50 644.90 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 620.72 Td (PROPER) Tj ET Q q 0 0 0 rg BT 93.74 620.72 Td (TY) Tj ET Q q 0 0 0 rg BT 107.37 620.72 Td (, PLANT) Tj ET Q q 0 0 0 rg BT 147.50 620.72 Td ( ) Tj ET Q q 0 0 0 rg BT 149.85 620.72 Td (AND EQUIPMENT) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 485.50 620.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 620.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 606.72 Td (Plant in service and held for future use) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.50 606.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 606.72 Td (17,751,964) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 495.50 606.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.25 606.72 Td (17,654,078) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 592.72 Td (Accumulated depreciation and amortization) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.10 592.72 Td (\(6,144,874) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.80 592.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 511.10 592.72 Td (\(6,041,965) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 592.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 578.72 Td (Net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 578.72 Td (1) Tj ET Q q 0 0 0 rg BT 440.75 578.72 Td (1,607,090) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.25 578.72 Td (1) Tj ET Q q 0 0 0 rg BT 514.75 578.72 Td (1,612,1) Tj ET Q q 0 0 0 rg BT 547.75 578.72 Td (13) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 554.72 Td (Construction work in progress) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 554.72 Td (1,424,023) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 554.72 Td (1,266,636) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 540.72 Td (Palo ) Tj ET Q q 0 0 0 rg BT 80.71 540.72 Td (V) Tj ET Q q 0 0 0 rg BT 87.94 540.72 Td (erde sale leaseback, net of accumulated depreciation \(Note 6\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 540.72 Td (108,678) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 540.72 Td (109,645) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 526.72 Td (Intangible assets, net of accumulated amortization) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 526.72 Td (262,363) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 526.72 Td (257,028) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 512.72 Td (Nuclear fuel, net of accumulated amortization) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 512.72 Td (135,400) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 512.72 Td (1) Tj ET Q q 0 0 0 rg BT 528.50 512.72 Td (17,408) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 498.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 498.72 Td (otal property) Tj ET Q q 0 0 0 rg BT 132.60 498.72 Td (, plant and equipment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 498.72 Td (13,537,554) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.25 498.72 Td (13,362,830) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 474.72 Td (INVESTMENTS ) Tj ET Q q 0 0 0 rg BT 131.33 474.72 Td (AND OTHER ) Tj ET Q q 0 0 0 rg BT 196.72 474.72 Td (ASSETS) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 485.50 474.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 474.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 460.72 Td (Nuclear decommissioning trust \(Note 12\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 460.72 Td (861,439) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 460.72 Td (871,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 446.72 Td (Other special use funds \(Note 12\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 446.72 Td (215,800) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 446.72 Td (30,358) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 432.72 Td (Other assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 432.72 Td (41,019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 432.72 Td (36,796) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 418.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 418.72 Td (otal investments and other assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 418.72 Td (1,1) Tj ET Q q 0 0 0 rg BT 454.50 418.72 Td (18,258) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 418.72 Td (938,154) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 391.72 Td (CURRENT) Tj ET Q q 0 0 0 rg BT 103.74 391.72 Td ( ) Tj ET Q q 0 0 0 rg BT 106.08 391.72 Td (ASSETS) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 485.50 391.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 391.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 377.72 Td (Cash and cash equivalents) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 377.72 Td (14,001) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 377.72 Td (13,851) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 363.72 Td (Customer and other receivables) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 363.72 Td (198,703) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 363.72 Td (292,791) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 349.72 Td (Accrued unbilled revenues) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 349.72 Td (1) Tj ET Q q 0 0 0 rg BT 454.50 349.72 Td (18,989) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 349.72 Td (1) Tj ET Q q 0 0 0 rg BT 528.50 349.72 Td (12,434) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 335.72 Td (Allowance for doubtful accounts) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 456.35 335.72 Td (\(2,046) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.80 335.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 530.35 335.72 Td (\(2,513) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 335.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 321.72 Td (Materials and supplies \(at average cost\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 321.72 Td (256,573) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 321.72 Td (262,630) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 307.72 Td (Fossil fuel \(at average cost\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 307.72 Td (48,062) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 307.72 Td (25,258) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 293.72 Td (Assets from risk management activities \(Note 7\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.05 293.72 Td (1,994) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.05 293.72 Td (1,931) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 279.72 Td (Deferred fuel and purchased power regulatory asset \(Note 4\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 279.72 Td (74,585) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 279.72 Td (75,637) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 265.72 Td (Other regulatory assets \(Note 4\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 265.72 Td (178,490) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 265.72 Td (172,451) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 251.72 Td (Other current assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 251.72 Td (45,477) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 251.72 Td (41,055) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 237.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 237.72 Td (otal current assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 237.72 Td (934,828) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 237.72 Td (995,525) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 213.72 Td (DEFERRED DEBITS) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 485.50 213.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 213.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 199.72 Td (Regulatory assets \(Note 4\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 199.72 Td (1,200,260) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 199.72 Td (1,202,302) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 185.72 Td (Assets for other postretirement benefits \(Note 5\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 185.72 Td (85,515) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 185.72 Td (265,139) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 171.72 Td (Other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 171.72 Td (132,336) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 171.72 Td (129,801) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 157.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.45 157.72 Td (otal deferred debits) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 157.72 Td (1,418,1) Tj ET Q q 0 0 0 rg BT 473.75 157.72 Td (1) Tj ET Q q 0 0 0 rg BT 479.25 157.72 Td (1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 157.72 Td (1,597,242) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 130.72 Td (T) Tj ET Q q 0 0 0 rg BT 59.02 130.72 Td (OT) Tj ET Q q 0 0 0 rg BT 72.80 130.72 Td (AL) Tj ET Q q 0 0 0 rg BT 87.06 130.72 Td ( ) Tj ET Q q 0 0 0 rg BT 89.20 130.72 Td (ASSETS) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.50 130.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 130.72 Td (17,008,751) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 495.50 130.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.25 130.72 Td (16,893,751) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 115.35 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 103.35 Td (The accompanying notes are an integral part of the financial statements.) Tj ET Q endstream endobj 31 0 obj <> endobj 32 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 /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 743.75 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 743.75 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 743.75 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 743.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 168.85 729.95 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 312.73 729.95 Td (TED BALANCE SHEETS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 279.45 716.15 Td (\(unaudited\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 702.35 Td (\(dollars in thousands\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 666.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 666.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 666.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 666.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 648.85 369.00 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w 0 i [] 0 d 0 J 0 j 3 M 493 578.85 m 563 578.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 550.85 m 489 550.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 550.85 m 563 550.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 522.85 m 489 522.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 522.85 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 419 508.85 m 489 508.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 508.85 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 419 340.85 m 489 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 340.85 m 563 340.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 326.85 m 489 326.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 326.85 m 563 326.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 172.85000000000002 m 489 172.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 158.85000000000002 m 489 158.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 172.85000000000002 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 493 158.85000000000002 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 419 131.85000000000002 m 489 131.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 129.85000000000002 m 489 129.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 131.85000000000002 m 563 131.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 129.85000000000002 m 563 129.85000000000002 l s BT /F2 10.50 Tf ET q 0 0 0 rg BT 430.55 682.14 Td (Mar) Tj ET Q q 0 0 0 rg BT 450.28 682.14 Td (ch 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 443.00 671.64 Td (2018) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 496.95 682.14 Td (December) Tj ET Q q 0 0 0 rg BT 542.23 682.14 Td ( 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 517.00 671.64 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 656.72 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 117.87 656.72 Td (AND EQUITY) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 485.50 656.90 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 559.50 656.90 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 638.72 Td (CAPIT) Tj ET Q q 0 0 0 rg BT 83.84 638.72 Td (ALIZA) Tj ET Q q 0 0 0 rg BT 115.78 638.72 Td (TION) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 485.50 638.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 638.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 624.72 Td (Common stock) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.50 624.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 624.72 Td (178,162) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 495.50 624.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 624.72 Td (178,162) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 610.72 Td (Additional paid-in capital) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 610.72 Td (2,571,696) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 610.72 Td (2,571,696) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 596.72 Td (Retained earnings) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 596.72 Td (2,548,591) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 596.72 Td (2,533,954) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 582.72 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 450.85 582.72 Td (\(30,851) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.80 582.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 582.72 Td (\(26,983) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 582.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 568.72 Td (T) Tj ET Q q 0 0 0 rg BT 64.83 568.72 Td (otal shareholder equity) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 568.72 Td (5,267,598) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 568.72 Td (5,256,829) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 554.72 Td (Noncontrolling interests \(Note 6\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 554.72 Td (133,914) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 554.72 Td (129,040) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 540.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 540.72 Td (otal equity) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 540.72 Td (5,401,512) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 540.72 Td (5,385,869) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 526.72 Td (Long-term debt less current maturities \(Note 3\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 526.72 Td (3,992,207) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 526.72 Td (4,491,292) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 512.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 512.72 Td (otal capitalization) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 512.72 Td (9,393,719) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 512.72 Td (9,877,161) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 498.72 Td (CURRENT) Tj ET Q q 0 0 0 rg BT 103.64 498.72 Td ( LIABILITIES) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 485.50 498.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 498.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 484.72 Td (Short-term borrowings \(Note 3\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 484.72 Td (255,500) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.80 484.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 470.72 Td (Current maturities of long-term debt \(Note 3\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 470.72 Td (582,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 470.72 Td (82,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 456.72 Td (Accounts payable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 456.72 Td (198,025) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 456.72 Td (247,852) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 442.72 Td (Accrued taxes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 442.72 Td (21) Tj ET Q q 0 0 0 rg BT 460.00 442.72 Td (1,455) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 442.72 Td (157,349) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 428.72 Td (Accrued interest) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 428.72 Td (48,828) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 428.72 Td (55,533) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 414.72 Td (Common dividends payable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.80 414.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 414.72 Td (77,700) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 400.72 Td (Customer deposits) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 400.72 Td (75,759) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 400.72 Td (70,388) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 386.72 Td (Liabilities from risk management activities \(Note 7\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 386.72 Td (67,743) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 386.72 Td (59,252) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 372.72 Td (Liabilities for asset retirements) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.05 372.72 Td (5,898) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.05 372.72 Td (4,192) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 358.72 Td (Regulatory liabilities \(Note 4\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 358.72 Td (136,535) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 358.72 Td (100,086) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 344.72 Td (Other current liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 344.72 Td (180,005) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 344.72 Td (243,922) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 330.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 330.72 Td (otal current liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 330.72 Td (1,761,748) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 330.72 Td (1,098,274) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 316.72 Td (DEFERRED CREDITS ) Tj ET Q q 0 0 0 rg BT 160.37 316.72 Td (AND OTHER) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 485.50 316.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 316.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 302.72 Td (Deferred income taxes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 302.72 Td (1,741,907) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 302.72 Td (1,742,485) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 288.72 Td (Regulatory liabilities \(Note 4\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 288.72 Td (2,415,417) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 288.72 Td (2,452,536) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 274.72 Td (Liabilities for asset retirements) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 274.72 Td (669,247) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 274.72 Td (666,527) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 260.72 Td (Liabilities for pension benefits \(Note 5\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 260.72 Td (263,985) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 260.72 Td (306,542) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 246.72 Td (Liabilities from risk management activities \(Note 7\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 246.72 Td (47,626) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 246.72 Td (37,170) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 232.72 Td (Customer advances) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 232.72 Td (109,629) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 232.72 Td (1) Tj ET Q q 0 0 0 rg BT 528.50 232.72 Td (13,996) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 218.72 Td (Coal mine reclamation) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 218.72 Td (215,615) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 218.72 Td (215,830) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 204.72 Td (Deferred investment tax credit) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 204.72 Td (205,428) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 204.72 Td (205,575) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 190.72 Td (Unrecognized tax benefits) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 190.72 Td (43,990) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 190.72 Td (43,876) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 176.72 Td (Other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 176.72 Td (140,440) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 176.72 Td (133,779) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 162.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.45 162.72 Td (otal deferred credits and other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 162.72 Td (5,853,284) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 162.72 Td (5,918,316) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 148.72 Td (COMMITMENTS ) Tj ET Q q 0 0 0 rg BT 137.45 148.72 Td (AND CONTINGENCIES \(SEE NOTE 8\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 134.72 Td (T) Tj ET Q q 0 0 0 rg BT 59.02 134.72 Td (OT) Tj ET Q q 0 0 0 rg BT 72.80 134.72 Td (AL) Tj ET Q q 0 0 0 rg BT 87.06 134.72 Td ( LIABILITIES ) Tj ET Q q 0 0 0 rg BT 154.88 134.72 Td (AND EQUITY) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.50 134.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 134.72 Td (17,008,751) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 495.50 134.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.25 134.72 Td (16,893,751) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 107.35 Td (The accompanying notes are an integral part of the financial statements.) Tj ET Q endstream endobj 33 0 obj <> endobj 34 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 /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 743.75 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 743.75 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 743.75 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 743.75 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 133.50 729.95 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 277.38 729.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 317.12 729.95 Td (A) Tj ET Q q 0 0 0 rg BT 324.57 729.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 399.22 729.95 Td ( CASH FLOWS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 279.45 716.15 Td (\(unaudited\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 702.35 Td (\(dollars in thousands\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 656.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 656.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 656.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 656.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 632.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 632.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 632.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 632.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 608.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 608.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 608.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 608.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 584.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 584.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 584.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 584.85 70.00 -12.00 re f /GS0 gs 0.8 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0.9333333333333333 1 rg /GS0 gs 419.00 488.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 488.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 488.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 464.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 464.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 464.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 464.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 440.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 440.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 440.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 440.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 416.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 416.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 416.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 416.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 392.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 392.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 392.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 392.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 368.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 368.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 368.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 368.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 344.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 344.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 344.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 344.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 320.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 320.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 320.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 320.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 296.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 296.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 296.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 296.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 272.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 272.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 272.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 272.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 248.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 248.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 248.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 248.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 224.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 224.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 224.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 224.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 200.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 200.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 200.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 200.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 176.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 176.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 176.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 176.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 152.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 152.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 152.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 152.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 128.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 128.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 128.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 128.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 104.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 104.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 104.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 104.85 70.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 668.85 m 489 668.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 668.85 m 493 668.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 668.85 m 563 668.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 668.85 m 489 668.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 656.85 m 489 656.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 668.85 m 563 668.85 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 563 656.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 392.85 m 489 392.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 392.85 m 563 392.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 380.85 m 489 380.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 380.85 m 563 380.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 296.85 m 489 296.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 296.85 m 563 296.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 284.85 m 489 284.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 284.85 m 563 284.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 212.85000000000002 m 489 212.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 200.85000000000002 m 489 200.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 212.85000000000002 m 563 212.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 200.85000000000002 m 563 200.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 176.85000000000002 m 489 176.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 165.85000000000002 m 489 165.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 163.85000000000002 m 489 163.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 176.85000000000002 m 563 176.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 165.85000000000002 m 563 165.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 163.85000000000002 m 563 163.85000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.50 673.53 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.00 682.58 Td (Thr) Tj ET Q q 0 0 0 rg BT 461.58 682.58 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.40 672.58 Td (Mar) Tj ET Q q 0 0 0 rg BT 488.69 672.58 Td (ch 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 659.58 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.50 659.58 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 659.58 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 647.47 Td (CASH FLOWS FROM OPERA) Tj ET Q q 0 0 0 rg BT 181.14 647.47 Td (TING ) Tj ET Q q 0 0 0 rg BT 206.69 647.47 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 635.47 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 635.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 635.47 Td (14,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 635.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 635.47 Td (28,035) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 623.47 Td (Adjustments to reconcile net income to net cash provided by operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 611.47 Td (Depreciation and amortization including nuclear fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 611.47 Td (162,853) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 611.47 Td (147,443) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 599.47 Td (Deferred fuel and purchased power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 599.47 Td (\(18,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 599.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 599.47 Td (\(988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 599.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 587.47 Td (Deferred fuel and purchased power amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 587.47 Td (20,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 587.47 Td (\(4,172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 587.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 575.47 Td (Allowance for equity funds used during construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 575.47 Td (\(14,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 575.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 575.47 Td (\(9,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 575.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 563.47 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 563.47 Td (533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 563.47 Td (8,899) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 551.47 Td (Deferred investment tax credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 551.47 Td (\(147) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 551.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 551.47 Td (\(344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 551.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 539.47 Td (Change in derivative instruments fair value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 539.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 539.47 Td (\(101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 539.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 527.47 Td (Changes in current assets and liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 515.47 Td (Customer and other receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 515.47 Td (90,647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 515.47 Td (60,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 503.47 Td (Accrued unbilled revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 503.47 Td (\(6,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 503.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 503.47 Td (6,723) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 491.47 Td (Materials, supplies and fossil fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 491.47 Td (\(16,747) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 491.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 491.47 Td (\(631) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 491.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 479.47 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 479.47 Td (\(1,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 479.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 479.47 Td (\(15,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 479.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 467.47 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 467.47 Td (\(24,592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 467.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 467.47 Td (22,847) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 455.47 Td (Accrued taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 455.47 Td (54,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 455.47 Td (47,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 443.47 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 443.47 Td (\(15,771) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 443.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 443.47 Td (\(88,990) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 443.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 431.47 Td (Change in mar) Tj ET Q q 0 0 0 rg BT 129.28 431.47 Td (gin and collateral accounts assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 431.47 Td (\(396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 431.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.80 431.47 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 431.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 419.47 Td (Change in mar) Tj ET Q q 0 0 0 rg BT 129.28 419.47 Td (gin and collateral accounts liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 419.47 Td (\(1,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 419.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 419.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 407.47 Td (Change in other long-term assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 407.47 Td (4,1) Tj ET Q q 0 0 0 rg BT 475.15 407.47 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 407.47 Td (\(31,172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 407.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 395.47 Td (Change in other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 395.47 Td (\(69,836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 395.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 395.47 Td (1,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 383.47 Td (Net cash flow provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 383.47 Td (177,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 383.47 Td (173,535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 371.47 Td (CASH FLOWS FROM INVESTING ) Tj ET Q q 0 0 0 rg BT 204.46 371.47 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 359.47 Td (Capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 359.47 Td (\(355,039) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 359.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 359.47 Td (\(343,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 359.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 347.47 Td (Contributions in aid of construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 347.47 Td (8,569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 347.47 Td (5,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 335.47 Td (Allowance for borrowed funds used during construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 335.47 Td (\(6,755) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 335.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 335.47 Td (\(4,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 335.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 323.47 Td (Proceeds from nuclear decommissioning trust sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 323.47 Td (130,456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 323.47 Td (151,126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 311.47 Td (Investment in nuclear decommissioning trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 311.47 Td (\(131,027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 311.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 311.47 Td (\(151,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 311.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 299.47 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 299.47 Td (\(1,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 299.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 299.47 Td (\(774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 299.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 287.47 Td (Net cash flow used for investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 287.47 Td (\(354,979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 287.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 287.47 Td (\(342,980) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 287.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 275.47 Td (CASH FLOWS FROM FINANCING ) Tj ET Q q 0 0 0 rg BT 206.14 275.47 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 263.47 Td (Issuance of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 263.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 263.47 Td (255,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 251.47 Td (Short-term borrowings and payments net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 251.47 Td (255,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 251.47 Td (\(19,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 251.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 239.47 Td (Short-term debt borrowings under revolving credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 239.47 Td (25,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 239.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 227.47 Td (Short-term debt repayments under revolving credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 227.47 Td (\(25,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 227.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 227.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 215.47 Td (Dividends paid on common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 215.47 Td (\(77,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 215.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 215.47 Td (\(72,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 215.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 203.47 Td (Net cash flow provided by financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 203.47 Td (177,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 203.47 Td (163,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 191.47 Td (NET) Tj ET Q q 0 0 0 rg BT 71.85 191.47 Td ( INCREASE \(DECREASE\) IN CASH ) Tj ET Q q 0 0 0 rg BT 228.43 191.47 Td (AND CASH EQUIV) Tj ET Q q 0 0 0 rg BT 311.95 191.47 Td (ALENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 191.47 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 191.47 Td (\(5,907) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 191.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 179.47 Td (CASH ) Tj ET Q q 0 0 0 rg BT 81.40 179.47 Td (AND CASH EQUIV) Tj ET Q q 0 0 0 rg BT 164.92 179.47 Td (ALENTS ) Tj ET Q q 0 0 0 rg BT 204.83 179.47 Td (A) Tj ET Q q 0 0 0 rg BT 211.22 179.47 Td (T) Tj ET Q q 0 0 0 rg BT 216.69 179.47 Td ( BEGINNING OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 179.47 Td (13,851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 179.47 Td (8,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 167.47 Td (CASH ) Tj ET Q q 0 0 0 rg BT 81.40 167.47 Td (AND CASH EQUIV) Tj ET Q q 0 0 0 rg BT 164.92 167.47 Td (ALENTS ) Tj ET Q q 0 0 0 rg BT 204.83 167.47 Td (A) Tj ET Q q 0 0 0 rg BT 211.22 167.47 Td (T) Tj ET Q q 0 0 0 rg BT 216.69 167.47 Td ( END OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 167.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 167.47 Td (14,001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 167.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 167.47 Td (2,933) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 155.47 Td (Supplemental disclosure of cash flow information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 143.47 Td (Cash paid during the period for:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 131.47 Td (Income taxes, net of refunds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 131.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 131.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 131.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 131.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 119.47 Td (Interest, net of amounts capitalized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 119.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 119.47 Td (54,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 119.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 119.47 Td (53,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 107.47 Td (Significant non-cash investing and financing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 95.47 Td (Accrued capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 95.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 95.47 Td (86,944) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 95.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 95.47 Td (78,977) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 69.35 Td (The accompanying notes are an integral part of the financial statements.) Tj ET Q endstream endobj 35 0 obj <> endobj 36 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 /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 729.95 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 729.95 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 729.95 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 729.95 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 111.50 716.15 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 255.38 716.15 Td (TED ST) Tj ET Q q 0 0 0 rg BT 295.12 716.15 Td (A) Tj ET Q q 0 0 0 rg BT 302.57 716.15 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 377.22 716.15 Td ( CHANGES IN EQUITY) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 279.45 702.35 Td (\(unaudited\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 688.55 Td (\(dollars in thousands\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 621.05 118.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 168.00 621.05 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.00 621.05 4.00 -14.00 re 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1 rg /GS0 gs 168.00 565.05 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.00 565.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 565.05 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 565.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 565.05 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 565.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 565.05 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 565.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 565.05 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 565.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 565.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 565.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 565.05 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 536.05 118.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 168.00 536.05 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.00 536.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 536.05 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 536.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 536.05 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 536.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 536.05 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 536.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 536.05 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 536.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 536.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 536.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 536.05 49.00 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[] 0 d 0 J 0 j 3 M 223 621.05 m 267 621.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 621.05 m 319 621.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 621.05 m 371 621.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 621.05 m 441 621.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 621.05 m 510 621.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 621.05 m 563 621.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 621.05 m 219 621.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 621.05 m 267 621.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 621.05 m 319 621.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 621.05 m 371 621.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 621.05 m 441 621.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 621.05 m 510 621.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 621.05 m 563 621.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 565.05 m 267 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 565.05 m 271 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 565.05 m 319 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 565.05 m 323 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 565.05 m 371 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 565.05 m 375 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 565.05 m 441 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 565.05 m 445 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 565.05 m 510 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 565.05 m 514 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 565.05 m 563 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 565.05 m 219 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 552.05 m 219 552.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 550.05 m 219 550.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 565.05 m 223 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 552.05 m 223 552.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 550.05 m 223 550.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 565.05 m 267 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 552.05 m 267 552.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 550.05 m 267 550.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 565.05 m 271 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 552.05 m 271 552.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 550.05 m 271 550.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 565.05 m 319 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 552.05 m 319 552.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 550.05 m 319 550.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 565.05 m 323 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 552.05 m 323 552.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 550.05 m 323 550.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 565.05 m 371 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 552.05 m 371 552.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 550.05 m 371 550.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 565.05 m 375 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 552.05 m 375 552.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 550.05 m 375 550.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 565.05 m 441 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 552.05 m 441 552.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 550.05 m 441 550.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 565.05 m 445 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 552.05 m 445 552.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 550.05 m 445 550.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 565.05 m 510 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 552.05 m 510 552.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 550.05 m 510 550.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 565.05 m 514 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 552.05 m 514 552.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 550.05 m 514 550.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 565.05 m 563 565.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 552.05 m 563 552.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 550.05 m 563 550.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 448.05 m 219 448.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 448.05 m 223 448.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 448.05 m 267 448.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 448.05 m 271 448.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 448.05 m 319 448.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 448.05 m 323 448.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 448.05 m 371 448.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 448.05 m 375 448.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 448.05 m 441 448.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 448.05 m 445 448.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 448.05 m 510 448.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 448.05 m 514 448.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 448.05 m 563 448.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 435.05 m 219 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 433.05 m 219 433.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 435.05 m 223 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 433.05 m 223 433.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 435.05 m 267 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 433.05 m 267 433.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 435.05 m 271 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 433.05 m 271 433.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 435.05 m 319 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 433.05 m 319 433.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 435.05 m 323 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 433.05 m 323 433.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 435.05 m 371 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 433.05 m 371 433.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 435.05 m 375 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 433.05 m 375 433.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 435.05 m 441 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 433.05 m 441 433.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 435.05 m 445 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 433.05 m 445 433.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 435.05 m 510 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 433.05 m 510 433.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 435.05 m 514 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 433.05 m 514 433.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 435.05 m 563 435.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 433.05 m 563 433.05 l s BT /F1 9.50 Tf ET q 0 0 0 rg BT 187.30 639.61 Td (Common Stock) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 274.15 658.61 Td (Additional) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 280.50 649.11 Td (Paid-In) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 280.75 639.61 Td (Capital) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 329.60 649.11 Td (Retained) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 329.60 639.61 Td (Earnings) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 382.15 668.11 Td (Accumulated) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 396.65 658.61 Td (Other) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 377.65 649.11 Td (Comprehensive) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 379.90 639.61 Td (Income \(Loss\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 447.95 649.11 Td (Noncontrolling) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 460.90 639.61 Td (Interests) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 528.30 639.61 Td (T) Tj ET Q q 0 0 0 rg BT 533.77 639.61 Td (otal) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 180.30 625.61 Td (Shares) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 228.90 625.61 Td (Amount) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 611.61 Td (Balance, January 1, 2017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 175.00 611.51 Td (71,264,947) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.50 611.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.25 611.51 Td (178,162) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 273.50 611.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 279.25 611.51 Td (2,421,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 325.50 611.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 611.51 Td (2,331,245) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.50 611.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 409.55 611.51 Td (\(25,423) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.30 611.51 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 447.50 611.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.05 611.51 Td (132,290) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 516.50 611.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.25 611.51 Td (5,037,970) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 597.61 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.50 597.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 306.30 597.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.50 597.51 Td (23,162) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.30 597.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.05 597.51 Td (4,873) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.50 597.51 Td (28,035) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 583.61 Td (Other comprehensive income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.50 583.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 306.30 583.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.30 583.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.05 583.51 Td (1,048) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.30 583.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.00 583.51 Td (1,048) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 569.61 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.50 569.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 306.30 569.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.80 569.51 Td (\(2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 367.30 569.51 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.30 569.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.80 569.51 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.80 569.51 Td (\(1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.30 569.51 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 555.61 Td (Balance, March 31, 2017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 175.00 555.51 Td (71,264,947) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.50 555.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.25 555.51 Td (178,162) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 273.50 555.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 279.25 555.51 Td (2,421,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 325.50 555.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 555.51 Td (2,354,405) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.50 555.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 409.55 555.51 Td (\(24,375) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.30 555.51 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 447.50 555.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.05 555.51 Td (137,164) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 516.50 555.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.25 555.51 Td (5,067,052) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 526.61 Td (Balance, January 1, 2018) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 175.00 526.51 Td (71,264,947) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.50 526.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.25 526.51 Td (178,162) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 273.50 526.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 279.25 526.51 Td (2,571,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 325.50 526.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 526.51 Td (2,533,954) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.50 526.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 409.55 526.51 Td (\(26,983) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.30 526.51 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 447.50 526.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.05 526.51 Td (129,040) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 516.50 526.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.25 526.51 Td (5,385,869) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 512.61 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.50 512.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 306.30 512.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 512.51 Td (9,599) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.30 512.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.05 512.51 Td (4,873) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.50 512.51 Td (14,472) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 498.61 Td (Other comprehensive income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.50 498.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 306.30 498.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.30 498.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.05 498.51 Td (1,170) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.30 498.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.00 498.51 Td (1,170) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 484.61 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.50 484.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 306.30 484.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.30 484.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.30 484.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.80 484.51 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.80 484.51 Td (1) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 470.96 Td (Reclassification of income) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 461.46 Td (tax ef) Tj ET Q q 0 0 0 rg BT 73.78 461.46 Td (fects related to new tax) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 451.96 Td (reform \(See Note 13\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.50 452.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 306.30 452.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 452.51 Td (5,038) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.05 452.51 Td (\(5,038) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.30 452.51 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.30 452.51 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.30 452.51 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 52.50 438.61 Td (Balance, March 31, 2018) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 175.00 438.51 Td (71,264,947) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.50 438.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.25 438.51 Td (178,162) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 273.50 438.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 279.25 438.51 Td (2,571,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 325.50 438.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 438.51 Td (2,548,591) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.50 438.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 409.55 438.51 Td (\(30,851) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.30 438.51 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 447.50 438.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.05 438.51 Td (133,914) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 516.50 438.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.25 438.51 Td (5,401,512) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 408.75 Td (The accompanying notes are an integral part of the financial statements.) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (16) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 743.75 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 743.75 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 743.75 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 743.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 743.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 743.75 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 743.75 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 729.95 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 50.00 716.15 Td (1) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 55.75 716.15 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 86.00 716.15 Td (Consolidation and Natur) Tj ET Q q 0 0 0 rg BT 207.85 716.15 Td (e of Operations) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 283.23 716.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 702.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.00 688.55 Td (The unaudited condensed consolidated financial statements include the accounts of Pinnacle ) Tj ET Q q 0 0 0 rg BT 513.40 688.55 Td (W) Tj ET Q q 0 0 0 rg BT 523.33 688.55 Td (est and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 674.75 Td (our subsidiaries: ) Tj ET Q q 0 0 0 rg BT 130.82 674.75 Td (APS, 4C ) Tj ET Q q 0 0 0 rg BT 173.33 674.75 Td (Acquisition, LLC \("4CA"\), Bright Canyon Ener) Tj ET Q q 0 0 0 rg BT 394.28 674.75 Td (gy Corporation \("BCE"\) and El ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 660.95 Td (Dorado Investment Company \("El Dorado"\). Intercompany accounts and transactions between the consolidated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 647.15 Td (companies have been eliminated. ) Tj ET Q q 0 0 0 rg BT 208.18 647.15 Td (The unaudited condensed consolidated financial statements for ) Tj ET Q q 0 0 0 rg BT 499.75 647.15 Td (APS include ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 633.35 Td (the accounts of ) Tj ET Q q 0 0 0 rg BT 121.85 633.35 Td (APS and the Palo ) Tj ET Q q 0 0 0 rg BT 205.34 633.35 Td (V) Tj ET Q q 0 0 0 rg BT 212.37 633.35 Td (erde Nuclear Generating Station \("Palo ) Tj ET Q q 0 0 0 rg BT 395.37 633.35 Td (V) Tj ET Q q 0 0 0 rg BT 402.40 633.35 Td (erde"\) sale leaseback variable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 619.55 Td (interest entities \("VIEs"\) \(see Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 212.99 619.55 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 218.74 619.55 Td ( for further discussion\). Our accounting records are maintained in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 605.75 Td (accordance with accounting principles generally accepted in the United States of ) Tj ET Q q 0 0 0 rg BT 423.29 605.75 Td (America \("GAAP"\). ) Tj ET Q q 0 0 0 rg BT 522.54 605.75 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 591.95 Td (preparation of financial statements in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 332.83 591.95 Td ( requires management to make estimates and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 578.15 Td (assumptions that af) Tj ET Q q 0 0 0 rg BT 138.59 578.15 Td (fect the reported amounts of assets and liabilities, disclosure of contingent assets and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 564.35 Td (liabilities at the date of the financial statements and reported amounts of revenues and expenses during the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 550.55 Td (reporting period. ) Tj ET Q q 0 0 0 rg BT 132.40 550.55 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 239.82 550.55 Td (fer from those estimates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 536.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 522.95 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 522.95 Td (Amounts reported in our interim Condensed Consolidated Statements of Income are not necessarily ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 509.15 Td (indicative of amounts expected for the respective annual periods, due to the ef) Tj ET Q q 0 0 0 rg BT 409.04 509.15 Td (fects of seasonal temperature ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 495.35 Td (variations on ener) Tj ET Q q 0 0 0 rg BT 132.18 495.35 Td (gy consumption, timing of maintenance on electric generating units, and other factors.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.00 481.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.00 467.75 Td (Our condensed consolidated financial statements reflect all adjustments \(consisting only of normal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 453.95 Td (recurring adjustments except as otherwise disclosed in the notes\) that we believe are necessary for the fair ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 440.15 Td (presentation of our financial position, results of operations, and cash flows for the periods presented. Certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 426.35 Td (information and footnote disclosures normally included in financial statements prepared in conformity with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 412.55 Td (GAAP) Tj ET Q q 0 0 0 rg BT 80.88 412.55 Td ( have been condensed or omitted pursuant to such regulations, although we believe that the disclosures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 398.75 Td (provided are adequate to make the interim information presented not misleading. ) Tj ET Q q 0 0 0 rg BT 427.58 398.75 Td (The accompanying condensed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 384.95 Td (consolidated financial statements and these notes should be read in conjunction with the audited consolidated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 371.15 Td (financial statements and notes included in our 2017 Form 10-K. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.00 343.55 Td (These consolidated financial statements and notes have been prepared consistently) Tj ET Q q 0 0 0 rg BT 464.95 343.55 Td (, with the exception of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 329.75 Td (the reclassification of certain prior year amounts on our Condensed Consolidated Statements of Income and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 315.95 Td (APS's Condensed Consolidated Statements of Income. Beginning in quarter ended March 31, 2018, ) Tj ET Q q 0 0 0 rg BT 510.73 315.95 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 302.15 Td (changed the format of presentation of its Condensed Consolidated Statements of Income from a utility ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 288.35 Td (ratemaking format to a commercial format. Minor changes were made in the description of certain income ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 274.55 Td (statement line items and the amounts presented in the comparable prior period also changed by immaterial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 260.75 Td (amounts due to the change from a utility to a non-utility format and also from the adoption of the new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 246.95 Td (accounting guidance for net periodic pension cost and net periodic postretirement benefit cost. In addition, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 233.15 Td (prior year amounts were reclassified to conform to the current year presentation for the other special use funds in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 219.35 Td (the investment and other assets section on the Condensed Consolidated Balance Sheets. ) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (17) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 50.00 727.45 Td (Supplemental Cash Flow Information) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 699.85 Td (The following table summarizes supplemental Pinnacle ) Tj ET Q q 0 0 0 rg BT 307.84 699.85 Td (W) Tj ET Q q 0 0 0 rg BT 317.78 699.85 Td (est cash flow information \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 648.35 388.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 648.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 648.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 648.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 616.35 388.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 616.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 616.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 616.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 584.35 388.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 584.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 584.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 584.35 65.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 663.35 m 503.5 663.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 663.35 m 507.5 663.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 663.35 m 572.5 663.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 648.35 m 503.5 648.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 648.35 m 572.5 648.35 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 53.00 668.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 454.95 679.25 Td (Thr) Tj ET Q q 0 0 0 rg BT 473.19 679.25 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 479.55 668.25 Td (Mar) Tj ET Q q 0 0 0 rg BT 502.97 668.25 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 53.00 653.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 459.50 653.25 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 528.50 653.25 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 53.00 637.38 Td (Cash paid \(received\) during the period for:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 59.00 621.38 Td (Income taxes, net of refunds) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.00 621.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 487.65 621.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 510.00 621.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.55 621.38 Td (\(2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 568.15 621.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 59.00 605.38 Td (Interest, net of amounts capitalized) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.50 605.38 Td (56,026) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 536.50 605.38 Td (54,280) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 53.00 589.38 Td (Significant non-cash investing and financing activities:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 59.00 573.38 Td (Accrued capital expenditures) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.00 573.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.50 573.38 Td (86,991) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 510.00 573.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 536.50 573.38 Td (79,306) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 50.00 555.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 541.25 Td (2) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 55.25 541.25 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 541.25 Td (Revenue) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 127.66 541.25 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 513.65 Td (Adoption ) Tj ET Q q 0 0 0 rg BT 96.27 513.65 Td (of ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 108.18 513.65 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 167.28 513.65 Td (Standards ) Tj ET Q q 0 0 0 rg BT 220.65 513.65 Td (Update ) Tj ET Q q 0 0 0 rg BT 259.31 513.65 Td (\("ASU"\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 302.74 513.65 Td ( ) Tj ET Q q 0 0 0 rg BT 305.49 513.65 Td (2014-09, ) Tj ET Q q 0 0 0 rg BT 347.65 513.65 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 390.73 513.65 Td (fr) Tj ET Q q 0 0 0 rg BT 399.08 513.65 Td (om ) Tj ET Q q 0 0 0 rg BT 416.49 513.65 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 465.67 513.65 Td (with ) Tj ET Q q 0 0 0 rg BT 489.20 513.65 Td (Customers) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 489.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 489.85 Td (On January1, 2018, we adopted new revenue guidance in ) Tj ET Q q 0 0 0 rg BT 353.76 489.85 Td (ASU 2014-09 and related amendments. ) Tj ET Q q 0 0 0 rg BT 538.15 489.85 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 476.05 Td (new revenue guidance requires entities to recognize revenue when control of the promised good or service is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 462.25 Td (transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 448.45 Td (in exchange for those goods or services. ) Tj ET Q q 0 0 0 rg BT 236.44 448.45 Td (W) Tj ET Q q 0 0 0 rg BT 246.37 448.45 Td (e applied the new guidance using the modified retrospective method ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 434.65 Td (applied to contracts which were not completed as of January 1, 2018. ) Tj ET Q q 0 0 0 rg BT 370.56 434.65 Td (The adoption of the new revenue ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 420.85 Td (guidance resulted in expanded disclosures, but otherwise did not have a material impact on our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.94 420.85 Td (financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 407.65 Td (statements. New revenue disclosures required by the standard are included below) Tj ET Q q 0 0 0 rg BT 406.47 407.65 Td (. See Note 13 for additional ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 394.45 Td (information regarding the new accounting standard. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 368.05 Td (Revenue Recognition and Sour) Tj ET Q q 0 0 0 rg BT 194.45 368.05 Td (ces of Revenue) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.45 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 340.45 Td (Our revenues are primarily derived from sales of electricity to our regulated retail customers. Our retail ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 327.25 Td (electric services and tarif) Tj ET Q q 0 0 0 rg BT 159.54 327.25 Td (f rates are regulated by the ) Tj ET Q q 0 0 0 rg BT 278.65 327.25 Td (ACC. Revenues related to the sale of electric services are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 314.05 Td (recognized when service is rendered or electricity is delivered to the customer) Tj ET Q q 0 0 0 rg BT 391.89 314.05 Td (. Electricity sales generally represent a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 300.85 Td (single performance obligation delivered over time. ) Tj ET Q q 0 0 0 rg BT 275.03 300.85 Td (W) Tj ET Q q 0 0 0 rg BT 284.53 300.85 Td (e have elected to apply the invoice practical expedient and, as ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 287.65 Td (such, we recognize revenue based on the amount to which we have a right to invoice for services performed.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 261.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 261.25 Td (The following table provides detail of Pinnacle ) Tj ET Q q 0 0 0 rg BT 295.16 261.25 Td (W) Tj ET Q q 0 0 0 rg BT 304.66 261.25 Td (est's consolidated revenue disaggregated by revenue ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 248.05 Td (sources \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 189.55 382.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 189.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 189.55 113.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 159.55 382.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 159.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 159.55 113.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 129.55 382.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 129.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 129.55 113.00 -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 450 204.54999999999995 m 563 204.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 189.54999999999995 m 563 189.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 189.54999999999995 m 563 189.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 114.54999999999995 m 563 114.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 96.54999999999995 m 563 96.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 94.54999999999995 m 563 94.54999999999995 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 455.95 220.45 Td (Thr) Tj ET Q q 0 0 0 rg BT 474.19 220.45 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 481.95 209.45 Td (Mar) Tj ET Q q 0 0 0 rg BT 502.62 209.45 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 495.00 194.45 Td (2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 179.08 Td (Retail residential electric service) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 452.50 179.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 179.08 Td (316,675) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 164.08 Td (Retail non-residential electric service) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 164.08 Td (343,189) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 149.08 Td (Wholesale ener) Tj ET Q q 0 0 0 rg BT 123.59 149.08 Td (gy sales) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.00 149.08 Td (12,089) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 134.08 Td (T) Tj ET Q q 0 0 0 rg BT 59.32 134.08 Td (ransmission services for others) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.00 134.08 Td (14,845) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 119.08 Td (Other sources) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.75 119.08 Td (5,916) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 52.50 100.56 Td (T) Tj ET Q q 0 0 0 rg BT 59.11 100.56 Td (otal operating r) Tj ET Q q 0 0 0 rg BT 135.56 100.56 Td (evenues) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 452.50 100.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 100.58 Td (692,714) Tj ET Q BT /F1 11.50 Tf ET endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (18) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 741.40 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 741.40 Td (The billing of regulated retail electricity sales to individual customers is based on data obtained from the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 728.20 Td (customer) Tj ET Q q 0 0 0 rg BT 90.23 728.20 Td () Tj ET Q q 0 0 0 rg BT 93.29 728.20 Td (s meter) Tj ET Q q 0 0 0 rg BT 124.75 728.20 Td (. ) Tj ET Q q 0 0 0 rg BT 130.05 728.20 Td (W) Tj ET Q q 0 0 0 rg BT 139.55 728.20 Td (e obtain customers' meter data on a systematic basis throughout the month, and generally bill ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 715.00 Td (customers within a month from when service was provided. Customers are generally required to pay for services ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 701.80 Td (within 15 days of when the services are billed. ) Tj ET Q q 0 0 0 rg BT 256.41 701.80 Td (W) Tj ET Q q 0 0 0 rg BT 265.91 701.80 Td (e do not assess transactions for significant financing components ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 688.60 Td (when the period of time between when the goods or services are transferred to the customer and when the customer ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 675.40 Td (pays for those goods or services is less than one year) Tj ET Q q 0 0 0 rg BT 281.06 675.40 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 649.00 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 649.00 Td (Unbilled revenues are estimated by applying an average revenue per kilowatt-hour \(kWh\) to the number ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 635.80 Td (of estimated kWhs delivered but not billed by customer class. Historically) Tj ET Q q 0 0 0 rg BT 374.74 635.80 Td (, dif) Tj ET Q q 0 0 0 rg BT 392.26 635.80 Td (ferences between the actual and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 622.60 Td (estimated unbilled revenues have been immaterial. ) Tj ET Q q 0 0 0 rg BT 275.02 622.60 Td (W) Tj ET Q q 0 0 0 rg BT 284.52 622.60 Td (e exclude sales tax and franchise fees on electric revenues ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 609.40 Td (from both revenue and taxes other than income taxes.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 583.00 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 583.00 Td ( Revenues from wholesale ener) Tj ET Q q 0 0 0 rg BT 223.36 583.00 Td (gy sales and transmission services for others represent ener) Tj ET Q q 0 0 0 rg BT 483.41 583.00 Td (gy and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 569.80 Td (transmission sales to wholesale customers. ) Tj ET Q q 0 0 0 rg BT 239.94 569.80 Td (These activities primarily consist of managing fuel and purchased power ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 556.60 Td (risks in connection with the cost of serving our retail customers' ener) Tj ET Q q 0 0 0 rg BT 352.18 556.60 Td (gy requirements. ) Tj ET Q q 0 0 0 rg BT 428.65 556.60 Td (W) Tj ET Q q 0 0 0 rg BT 438.15 556.60 Td (e may also sell into the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 543.40 Td (wholesale markets generation that is not needed for ) Tj ET Q q 0 0 0 rg BT 277.98 543.40 Td (APS) Tj ET Q q 0 0 0 rg BT 301.22 543.40 Td (s retail load. Our wholesale activities and tarif) Tj ET Q q 0 0 0 rg BT 503.84 543.40 Td (f rates are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 530.20 Td (regulated by the United States Federal Ener) Tj ET Q q 0 0 0 rg BT 241.12 530.20 Td (gy Regulatory Commission \("FERC"\). ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 503.80 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 503.80 Td (In the electricity business, some contracts to purchase ener) Tj ET Q q 0 0 0 rg BT 343.40 503.80 Td (gy are settled by netting against other contracts ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 490.60 Td (to sell electricity) Tj ET Q q 0 0 0 rg BT 122.09 490.60 Td (. ) Tj ET Q q 0 0 0 rg BT 127.39 490.60 Td (This is referred to as a book-out, and usually occurs in contracts that have the same terms \(product ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 477.40 Td (type, quantities, and delivery points\) and for which power does not flow) Tj ET Q q 0 0 0 rg BT 366.19 477.40 Td (. ) Tj ET Q q 0 0 0 rg BT 371.49 477.40 Td (W) Tj ET Q q 0 0 0 rg BT 380.99 477.40 Td (e net these book-outs, which reduces ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 464.20 Td (both wholesale revenues and fuel and purchased power costs. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 437.20 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 91.97 437.20 Td (Activities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 410.80 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 410.80 Td (Our revenues are primarily derived from activities that are classified as revenues from contracts with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 397.60 Td (customers. ) Tj ET Q q 0 0 0 rg BT 99.40 397.60 Td (This includes sales of electricity to our regulated retail customers and wholesale and transmission ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 384.40 Td (activities. Our revenues from contracts with customers for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 327.16 384.40 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 486.01 384.40 Td ( were ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 512.89 384.40 Td ($683 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 371.20 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 81.28 371.20 Td (. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 344.80 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 344.80 Td (W) Tj ET Q q 0 0 0 rg BT 95.00 344.80 Td (e have certain revenues that do not meet the specific accounting criteria to be classified as revenues from ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 331.60 Td (contracts with customers. For the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 198.58 331.60 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 357.43 331.60 Td (, our revenues that do not qualify as revenue ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 318.40 Td (from contracts with customers were ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 209.86 318.40 Td ($10 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 260.90 318.40 Td (. ) Tj ET Q q 0 0 0 rg BT 266.20 318.40 Td (This relates primarily to certain regulatory cost recovery ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 305.20 Td (mechanisms that are considered alternative revenue programs. ) Tj ET Q q 0 0 0 rg BT 326.02 305.20 Td (W) Tj ET Q q 0 0 0 rg BT 335.52 305.20 Td (e recognize revenue associated with alternative ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 292.00 Td (revenue programs when specific events permitting recognition are completed. Certain amounts associated with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 278.80 Td (alternative revenue programs will subsequently be billed to customers; however) Tj ET Q q 0 0 0 rg BT 400.65 278.80 Td (, we do not reclassify billed ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 265.60 Td (amounts into revenue from contracts with customers. See Note 4 for a discussion of our regulatory cost recovery ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 252.40 Td (mechanisms. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 226.00 Td (Contract ) Tj ET Q q 0 0 0 rg BT 93.80 226.00 Td (Assets ) Tj ET Q q 0 0 0 rg BT 125.88 226.00 Td (and ) Tj ET Q q 0 0 0 rg BT 146.36 226.00 Td (Liabilities ) Tj ET Q q 0 0 0 rg BT 196.17 226.00 Td (fr) Tj ET Q q 0 0 0 rg BT 204.52 226.00 Td (om ) Tj ET Q q 0 0 0 rg BT 221.93 226.00 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 271.12 226.00 Td (with ) Tj ET Q q 0 0 0 rg BT 294.65 226.00 Td (Customers) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 199.60 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 199.60 Td (There were no material contract assets, contract liabilities, or deferred contract costs recorded on the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 186.40 Td (Condensed Consolidated Balance Sheet as of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 251.12 186.40 Td (March31, 2018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 321.08 186.40 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 158.80 Td (3) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 55.25 158.80 Td (.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 158.80 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 158.80 Td (Long-T) Tj ET Q q 0 0 0 rg BT 121.51 158.80 Td (erm Debt and Liquidity Matters) Tj ET Q BT /F2 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 131.20 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 131.20 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 131.20 Td (est and ) Tj ET Q q 0 0 0 rg BT 172.20 131.20 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 49.50 117.40 Td (provide credit support for their commercial paper programs, to refinance indebtedness, and for other general ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 103.60 Td (corporate purposes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 89.80 Td () Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (19) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 712.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 130.33 712.25 Td (W) Tj ET Q q 0 0 0 rg BT 139.71 712.25 Td (est) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 698.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.65 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.88 684.65 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 173.01 684.65 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 221.03 684.65 Td (W) Tj ET Q q 0 0 0 rg BT 230.97 684.65 Td (est had a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 274.08 684.65 Td ($200 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.18 684.65 Td ( facility that matures in May 2021. Pinnacle ) Tj ET Q q 0 0 0 rg BT 537.69 684.65 Td (W) Tj ET Q q 0 0 0 rg BT 547.62 684.65 Td (est ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (has the option to increase the amount of the facility up to a maximum of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 384.52 670.85 Td ($300 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.62 670.85 Td ( upon the satisfaction of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 657.05 Td (certain conditions and with the consent of the lenders.) Tj ET Q q 0 0 0 rg BT 299.88 657.05 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 314.26 657.05 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.40 657.05 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 435.42 657.05 Td (W) Tj ET Q q 0 0 0 rg BT 445.35 657.05 Td (est had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 480.48 657.05 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 491.98 657.05 Td ( outstanding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.25 Td (borrowings under its credit facility) Tj ET Q q 0 0 0 rg BT 208.44 643.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.19 643.25 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 225.69 643.25 Td ( letters of credit outstanding and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 377.07 643.25 Td ($37.4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 439.04 643.25 Td ( of commercial paper ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.45 Td (borrowings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 601.85 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.88 601.85 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 173.01 601.85 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 221.03 601.85 Td (W) Tj ET Q q 0 0 0 rg BT 230.97 601.85 Td (est had a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 274.08 601.85 Td ($125 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.18 601.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 336.05 601.85 Td (364) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.30 601.85 Td (-day unsecured revolving credit facility that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 588.05 Td (matures on July 30, 2018. Borrowings under the facility bear interest at LIBOR plus ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 442.67 588.05 Td (0.80%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.37 588.05 Td ( per annum. ) Tj ET Q q 0 0 0 rg BT 532.10 588.05 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.25 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.64 574.25 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 170.66 574.25 Td (W) Tj ET Q q 0 0 0 rg BT 180.59 574.25 Td (est had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.72 574.25 Td ($77 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 269.07 574.25 Td ( outstanding under the facility) Tj ET Q q 0 0 0 rg BT 406.29 574.25 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 560.45 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 546.65 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 519.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 519.05 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.88 519.05 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 173.01 519.05 Td (, ) Tj ET Q q 0 0 0 rg BT 178.13 519.05 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 221.58 519.05 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.83 519.05 Td ( revolving credit facilities totaling ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.19 519.05 Td ($1 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 442.60 519.05 Td (, including a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 502.64 519.05 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 561.75 519.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.25 Td (facility that matures in May2021 and a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 233.45 505.25 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 292.56 505.25 Td ( credit facility that matures in June 2022.) Tj ET Q q 0 0 0 rg BT 483.22 505.25 Td (APS may ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.45 Td (increase the amount of each facility up to a maximum of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.32 491.45 Td ($700 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 371.42 491.45 Td (, for a total of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 437.20 491.45 Td ($1.4 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.23 491.45 Td (, upon the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.65 Td (satisfaction of certain conditions and with the consent of the lenders. Interest rates are based on ) Tj ET Q q 0 0 0 rg BT 492.76 477.65 Td (APS) Tj ET Q q 0 0 0 rg BT 517.05 477.65 Td (s senior ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.85 Td (unsecured debt credit ratings. ) Tj ET Q q 0 0 0 rg BT 190.44 463.85 Td (These facilities are available to support ) Tj ET Q q 0 0 0 rg BT 373.10 463.85 Td (APS) Tj ET Q q 0 0 0 rg BT 397.39 463.85 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.74 463.85 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.84 463.85 Td ( commercial paper ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 450.05 Td (program, for bank borrowings or for issuances of letters of credit. ) Tj ET Q q 0 0 0 rg BT 356.09 450.05 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 370.46 450.05 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.60 450.05 Td (, ) Tj ET Q q 0 0 0 rg BT 448.72 450.05 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 492.17 450.05 Td ($255.5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.90 450.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (of commercial paper outstanding and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 223.54 436.25 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 235.04 436.25 Td ( outstanding borrowings or letters of credit under its revolving credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.45 Td (facilities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 408.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 394.85 Td (See "Financial ) Tj ET Q q 0 0 0 rg BT 154.71 394.85 Td (Assurances" in Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 251.71 394.85 Td (8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 257.46 394.85 Td ( for a discussion of ) Tj ET Q q 0 0 0 rg BT 347.21 394.85 Td (APS) Tj ET Q q 0 0 0 rg BT 371.50 394.85 Td (s other outstanding letters of credit.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 381.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 367.25 Td (Debt Fair) Tj ET Q q 0 0 0 rg BT 96.88 367.25 Td ( ) Tj ET Q q 0 0 0 rg BT 99.54 367.25 Td (V) Tj ET Q q 0 0 0 rg BT 106.79 367.25 Td (alue) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 339.65 Td (Our long-term debt fair value estimates are classified within Level 2 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 521.27 339.65 Td (. ) Tj ET Q q 0 0 0 rg BT 529.69 339.65 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.85 Td (following table presents the estimated fair value of our long-term debt, including current maturities \(dollars in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 312.05 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 246.75 241.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 246.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 246.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 246.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 246.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 246.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 246.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 246.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 214.75 241.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 214.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 214.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 214.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 214.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 214.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 214.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 214.75 65.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 272.75 m 356 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 272.75 m 360 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 272.75 m 425 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 272.75 m 494 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 272.75 m 498 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 272.75 m 563 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 246.75 m 356 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 272.75 m 425 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 246.75 m 425 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 246.75 m 494 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 272.75 m 563 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 246.75 m 563 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 214.75 m 356 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 214.75 m 425 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 214.75 m 494 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 214.75 m 563 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 214.75 m 356 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 199.75 m 356 199.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 197.75 m 356 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 214.75 m 425 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 199.75 m 425 199.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 197.75 m 425 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 214.75 m 494 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 199.75 m 494 199.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 197.75 m 494 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 214.75 m 563 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 199.75 m 563 199.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 197.75 m 563 197.75 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 277.65 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 307.60 277.65 Td (As of Mar) Tj ET Q q 0 0 0 rg BT 355.15 277.65 Td (ch 31, 2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 437.70 277.65 Td (As of December) Tj ET Q q 0 0 0 rg BT 512.12 277.65 Td ( 31, 2017) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 251.65 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 301.30 262.65 Td (Carrying) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 303.70 251.65 Td (Amount) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 367.45 251.65 Td (Fair) Tj ET Q q 0 0 0 rg BT 387.51 251.65 Td () Tj ET Q q 0 0 0 rg BT 390.06 251.65 Td (V) Tj ET Q q 0 0 0 rg BT 397.40 251.65 Td (alue) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 439.30 262.65 Td (Carrying) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 441.70 251.65 Td (Amount) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 505.45 251.65 Td (Fair) Tj ET Q q 0 0 0 rg BT 525.41 251.65 Td () Tj ET Q q 0 0 0 rg BT 527.96 251.65 Td (V) Tj ET Q q 0 0 0 rg BT 534.89 251.65 Td (alue) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 236.28 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 94.77 236.28 Td (W) Tj ET Q q 0 0 0 rg BT 104.70 236.28 Td (est) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 293.50 235.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 314.25 235.78 Td (298,326) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 235.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 383.25 235.78 Td (293,061) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.50 235.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 452.25 235.78 Td (298,421) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 235.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 235.78 Td (298,608) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 220.62 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.60 219.78 Td (4,574,207) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 374.60 219.78 Td (4,845,665) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.60 219.78 Td (4,573,292) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 219.78 Td (5,006,348) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 204.28 Td (T) Tj ET Q q 0 0 0 rg BT 64.72 204.28 Td (otal) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 293.50 203.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.60 203.78 Td (4,872,533) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 203.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 374.60 203.78 Td (5,138,726) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.50 203.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.60 203.78 Td (4,871,713) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 203.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 203.78 Td (5,304,956) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 185.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 171.65 Td (Debt Pr) Tj ET Q q 0 0 0 rg BT 87.93 171.65 Td (ovisions) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 157.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 144.05 Td (An existing ) Tj ET Q q 0 0 0 rg BT 141.09 144.05 Td (ACC order requires ) Tj ET Q q 0 0 0 rg BT 234.03 144.05 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 467.18 144.05 Td (40%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.26 144.05 Td (. ) Tj ET Q q 0 0 0 rg BT 496.25 144.05 Td (As defined in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 130.25 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 130.25 Td (ACC order) Tj ET Q q 0 0 0 rg BT 116.11 130.25 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 49.50 116.45 Td (equity and long-term debt, including current maturities of long-term debt. ) Tj ET Q q 0 0 0 rg BT 393.46 116.45 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 407.84 116.45 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 480.98 116.45 Td (, ) Tj ET Q q 0 0 0 rg BT 486.09 116.45 Td (APS was in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 102.65 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 526.95 102.65 Td ($5.3 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 88.85 Td (billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 79.53 88.85 Td (, and total capitalization was approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 282.96 88.85 Td ($10.0 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 341.74 88.85 Td (. ) Tj ET Q q 0 0 0 rg BT 349.73 88.85 Td (APS would be prohibited from paying ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 75.05 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 75.05 Td ($4.0 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 510.04 75.05 Td (, assuming ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 61.25 Td (APS) Tj ET Q q 0 0 0 rg BT 73.79 61.25 Td (s total capitalization remains the same.) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (20) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (4) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 55.25 712.25 Td (.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 712.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 712.25 Td (Regulatory Matters) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 182.26 712.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.45 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 684.65 Td (Retail Rate Case Filing with the ) Tj ET Q q 0 0 0 rg BT 203.71 684.65 Td (Arizona Corporation Commission) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 657.05 Td (On June1, 2016, ) Tj ET Q q 0 0 0 rg BT 166.00 657.05 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 321.23 657.05 Td (ACC for an annual increase in retail base rates of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.25 Td ($165.9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 117.23 643.25 Td (. ) Tj ET Q q 0 0 0 rg BT 125.64 643.25 Td (This amount excluded amounts that were then collected on customer bills through adjustor ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.45 Td (mechanisms. ) Tj ET Q q 0 0 0 rg BT 114.77 629.45 Td (The application requested that some of the balances in these adjustor accounts \(aggregating to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.65 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 615.65 Td ($267.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 186.53 615.65 Td ( as of December 31, 2015\) be transferred into base rates through the ratemaking ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.85 Td (process. ) Tj ET Q q 0 0 0 rg BT 92.41 601.85 Td (This transfer would not have had an incremental ef) Tj ET Q q 0 0 0 rg BT 326.59 601.85 Td (fect on average customer bills. ) Tj ET Q q 0 0 0 rg BT 472.96 601.85 Td (The average ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 588.05 Td (annual customer bill impact of ) Tj ET Q q 0 0 0 rg BT 192.26 588.05 Td (APS) Tj ET Q q 0 0 0 rg BT 216.55 588.05 Td (s request was an increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 347.48 588.05 Td (5.74%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 377.18 588.05 Td ( \(the average annual bill impact for a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.25 Td (typical ) Tj ET Q q 0 0 0 rg BT 83.04 574.25 Td (APS residential customer was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 223.57 574.25 Td (7.96%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.28 574.25 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.94 574.25 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 546.65 Td (On March 27, 2017, a majority of the stakeholders in the general retail rate case, including the ) Tj ET Q q 0 0 0 rg BT 521.09 546.65 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.85 Td (Staf) Tj ET Q q 0 0 0 rg BT 67.82 532.85 Td (f, the Residential Utility Consumer Of) Tj ET Q q 0 0 0 rg BT 243.92 532.85 Td (fice, limited income advocates and private rooftop solar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 519.05 Td (or) Tj ET Q q 0 0 0 rg BT 58.87 519.05 Td (ganizations signed a settlement agreement \(the "2017 Settlement ) Tj ET Q q 0 0 0 rg BT 358.66 519.05 Td (Agreement"\) and filed it with the ) Tj ET Q q 0 0 0 rg BT 513.45 519.05 Td (ACC. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.25 Td (The 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 147.56 505.25 Td (Agreement provides for a net retail base rate increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.10 505.25 Td ($94.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 470.08 505.25 Td (, excluding the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.45 Td (transfer of adjustor balances, consisting of: \(1\) a non-fuel, non-depreciation, base rate increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.43 491.45 Td ($87.2 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 561.41 491.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.65 Td (per year; \(2\) a base rate decrease of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.51 477.65 Td ($53.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 277.48 477.65 Td ( attributable to reduced fuel and purchased power costs; and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.85 Td (\(3\) a base rate increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 170.18 463.85 Td ($61.0 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.16 463.85 Td ( due to changes in depreciation schedules. ) Tj ET Q q 0 0 0 rg BT 430.90 463.85 Td (The average annual ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 450.05 Td (customer bill impact under the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 270.20 450.05 Td (Agreement was calculated as an increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.59 450.05 Td (3.28%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 503.29 450.05 Td ( \(the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (average annual bill impact for a typical ) Tj ET Q q 0 0 0 rg BT 231.83 436.25 Td (APS residential customer was calculated as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 434.31 436.25 Td (4.54%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.01 436.25 Td (\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 408.65 Td (Other ) Tj ET Q q 0 0 0 rg BT 114.56 408.65 Td (key ) Tj ET Q q 0 0 0 rg BT 134.04 408.65 Td (provisions ) Tj ET Q q 0 0 0 rg BT 184.84 408.65 Td (of ) Tj ET Q q 0 0 0 rg BT 197.29 408.65 Td (the ) Tj ET Q q 0 0 0 rg BT 214.21 408.65 Td (agreement ) Tj ET Q q 0 0 0 rg BT 264.98 408.65 Td (include ) Tj ET Q q 0 0 0 rg BT 301.70 408.65 Td (the ) Tj ET Q q 0 0 0 rg BT 318.63 408.65 Td (following:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 381.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 381.05 Td (an ) Tj ET Q q 0 0 0 rg BT 117.23 381.05 Td (agreement ) Tj ET Q q 0 0 0 rg BT 167.99 381.05 Td (by ) Tj ET Q q 0 0 0 rg BT 181.73 381.05 Td (APS ) Tj ET Q q 0 0 0 rg BT 205.71 381.05 Td (not ) Tj ET Q q 0 0 0 rg BT 223.28 381.05 Td (to ) Tj ET Q q 0 0 0 rg BT 235.10 381.05 Td (file ) Tj ET Q q 0 0 0 rg BT 253.30 381.05 Td (another ) Tj ET Q q 0 0 0 rg BT 290.65 381.05 Td (general ) Tj ET Q q 0 0 0 rg BT 327.37 381.05 Td (retail ) Tj ET Q q 0 0 0 rg BT 353.87 381.05 Td (rate ) Tj ET Q q 0 0 0 rg BT 373.98 381.05 Td (case ) Tj ET Q q 0 0 0 rg BT 396.64 381.05 Td (application ) Tj ET Q q 0 0 0 rg BT 450.61 381.05 Td (before ) Tj ET Q q 0 0 0 rg BT 482.85 381.05 Td (June ) Tj ET Q q 0 0 0 rg BT 506.81 381.05 Td (1, ) Tj ET Q q 0 0 0 rg BT 518.31 381.05 Td (2019;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 367.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 367.25 Td (an ) Tj ET Q q 0 0 0 rg BT 117.23 367.25 Td (authorized ) Tj ET Q q 0 0 0 rg BT 168.64 367.25 Td (return ) Tj ET Q q 0 0 0 rg BT 198.97 367.25 Td (on ) Tj ET Q q 0 0 0 rg BT 213.35 367.25 Td (common ) Tj ET Q q 0 0 0 rg BT 256.47 367.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 288.09 367.25 Td (of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.54 367.25 Td (10.0%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 330.25 367.25 Td (;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 353.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 353.45 Td (a ) Tj ET Q q 0 0 0 rg BT 111.48 353.45 Td (capital ) Tj ET Q q 0 0 0 rg BT 145.00 353.45 Td (structure ) Tj ET Q q 0 0 0 rg BT 188.11 353.45 Td (comprised ) Tj ET Q q 0 0 0 rg BT 238.89 353.45 Td (of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 251.35 353.45 Td (44.2%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 281.05 353.45 Td ( ) Tj ET Q q 0 0 0 rg BT 283.93 353.45 Td (debt ) Tj ET Q q 0 0 0 rg BT 306.60 353.45 Td (and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 326.08 353.45 Td (55.8%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 355.79 353.45 Td ( ) Tj ET Q q 0 0 0 rg BT 358.66 353.45 Td (common ) Tj ET Q q 0 0 0 rg BT 401.78 353.45 Td (equity;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 339.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 339.65 Td (a ) Tj ET Q q 0 0 0 rg BT 113.33 339.65 Td (cost ) Tj ET Q q 0 0 0 rg BT 136.58 339.65 Td (deferral ) Tj ET Q q 0 0 0 rg BT 177.05 339.65 Td (order ) Tj ET Q q 0 0 0 rg BT 206.04 339.65 Td (for ) Tj ET Q q 0 0 0 rg BT 224.18 339.65 Td (potential ) Tj ET Q q 0 0 0 rg BT 269.14 339.65 Td (future ) Tj ET Q q 0 0 0 rg BT 301.33 339.65 Td (recovery ) Tj ET Q q 0 0 0 rg BT 346.28 339.65 Td (in ) Tj ET Q q 0 0 0 rg BT 358.91 339.65 Td (APS) Tj ET Q q 0 0 0 rg BT 383.20 339.65 Td (s ) Tj ET Q q 0 0 0 rg BT 392.40 339.65 Td (next ) Tj ET Q q 0 0 0 rg BT 416.92 339.65 Td (general ) Tj ET Q q 0 0 0 rg BT 455.49 339.65 Td (retail ) Tj ET Q q 0 0 0 rg BT 483.84 339.65 Td (rate ) Tj ET Q q 0 0 0 rg BT 505.80 339.65 Td (case ) Tj ET Q q 0 0 0 rg BT 530.31 339.65 Td (for ) Tj ET Q q 0 0 0 rg BT 548.45 339.65 Td (the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 325.85 Td (construction ) Tj ET Q q 0 0 0 rg BT 163.23 325.85 Td (and ) Tj ET Q q 0 0 0 rg BT 182.70 325.85 Td (operating ) Tj ET Q q 0 0 0 rg BT 229.01 325.85 Td (costs ) Tj ET Q q 0 0 0 rg BT 254.25 325.85 Td (APS ) Tj ET Q q 0 0 0 rg BT 278.22 325.85 Td (incurs ) Tj ET Q q 0 0 0 rg BT 309.20 325.85 Td (for ) Tj ET Q q 0 0 0 rg BT 325.49 325.85 Td (its ) Tj ET Q q 0 0 0 rg BT 339.23 325.85 Td (Ocotillo ) Tj ET Q q 0 0 0 rg BT 379.79 325.85 Td (modernization ) Tj ET Q q 0 0 0 rg BT 449.09 325.85 Td (project; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 312.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 312.05 Td (a ) Tj ET Q q 0 0 0 rg BT 111.45 312.05 Td (cost ) Tj ET Q q 0 0 0 rg BT 132.82 312.05 Td (deferral ) Tj ET Q q 0 0 0 rg BT 171.41 312.05 Td (and ) Tj ET Q q 0 0 0 rg BT 190.85 312.05 Td (procedure ) Tj ET Q q 0 0 0 rg BT 239.67 312.05 Td (to ) Tj ET Q q 0 0 0 rg BT 251.46 312.05 Td (allow ) Tj ET Q q 0 0 0 rg BT 279.22 312.05 Td (APS ) Tj ET Q q 0 0 0 rg BT 303.16 312.05 Td (to ) Tj ET Q q 0 0 0 rg BT 314.95 312.05 Td (request ) Tj ET Q q 0 0 0 rg BT 351.00 312.05 Td (rate ) Tj ET Q q 0 0 0 rg BT 371.08 312.05 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 428.86 312.05 Td (prior ) Tj ET Q q 0 0 0 rg BT 454.06 312.05 Td (to ) Tj ET Q q 0 0 0 rg BT 465.85 312.05 Td (its ) Tj ET Q q 0 0 0 rg BT 479.56 312.05 Td (next ) Tj ET Q q 0 0 0 rg BT 502.20 312.05 Td (general ) Tj ET Q q 0 0 0 rg BT 538.88 312.05 Td (retail ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 298.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 124.55 298.25 Td (case ) Tj ET Q q 0 0 0 rg BT 148.16 298.25 Td (related ) Tj ET Q q 0 0 0 rg BT 183.26 298.25 Td (to ) Tj ET Q q 0 0 0 rg BT 196.03 298.25 Td (its ) Tj ET Q q 0 0 0 rg BT 210.71 298.25 Td (share ) Tj ET Q q 0 0 0 rg BT 238.79 298.25 Td (of ) Tj ET Q q 0 0 0 rg BT 252.19 298.25 Td (the ) Tj ET Q q 0 0 0 rg BT 270.06 298.25 Td (construction ) Tj ET Q q 0 0 0 rg BT 330.73 298.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 357.55 298.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 408.62 298.25 Td (with ) Tj ET Q q 0 0 0 rg BT 432.89 298.25 Td (installing ) Tj ET Q q 0 0 0 rg BT 479.51 298.25 Td (selective ) Tj ET Q q 0 0 0 rg BT 523.56 298.25 Td (catalytic ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 284.45 Td (reduction ) Tj ET Q q 0 0 0 rg BT 149.80 284.45 Td (\("SCR"\) ) Tj ET Q q 0 0 0 rg BT 191.46 284.45 Td (equipment ) Tj ET Q q 0 0 0 rg BT 242.88 284.45 Td (at ) Tj ET Q q 0 0 0 rg BT 254.06 284.45 Td (the ) Tj ET Q q 0 0 0 rg BT 270.98 284.45 Td (Four ) Tj ET Q q 0 0 0 rg BT 295.58 284.45 Td (Corners ) Tj ET Q q 0 0 0 rg BT 334.87 284.45 Td (Power ) Tj ET Q q 0 0 0 rg BT 367.13 284.45 Td (Plant ) Tj ET Q q 0 0 0 rg BT 393.65 284.45 Td (\("Four ) Tj ET Q q 0 0 0 rg BT 426.77 284.45 Td (Corners"\); ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 270.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 270.65 Td (a ) Tj ET Q q 0 0 0 rg BT 111.79 270.65 Td (deferral ) Tj ET Q q 0 0 0 rg BT 150.73 270.65 Td (for ) Tj ET Q q 0 0 0 rg BT 167.33 270.65 Td (future ) Tj ET Q q 0 0 0 rg BT 197.97 270.65 Td (recovery ) Tj ET Q q 0 0 0 rg BT 241.38 270.65 Td (\(or ) Tj ET Q q 0 0 0 rg BT 257.98 270.65 Td (credit ) Tj ET Q q 0 0 0 rg BT 287.35 270.65 Td (to ) Tj ET Q q 0 0 0 rg BT 299.48 270.65 Td (customers\) ) Tj ET Q q 0 0 0 rg BT 353.13 270.65 Td (of ) Tj ET Q q 0 0 0 rg BT 365.90 270.65 Td (the ) Tj ET Q q 0 0 0 rg BT 382.43 270.65 Td (Arizona ) Tj ET Q q 0 0 0 rg BT 422.66 270.65 Td (property ) Tj ET Q q 0 0 0 rg BT 464.80 270.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 482.04 270.65 Td (expense ) Tj ET Q q 0 0 0 rg BT 522.27 270.65 Td (above ) Tj ET Q q 0 0 0 rg BT 552.92 270.65 Td (or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 256.85 Td (below ) Tj ET Q q 0 0 0 rg BT 134.48 256.85 Td (a ) Tj ET Q q 0 0 0 rg BT 142.46 256.85 Td (specified ) Tj ET Q q 0 0 0 rg BT 186.84 256.85 Td (test ) Tj ET Q q 0 0 0 rg BT 205.69 256.85 Td (year ) Tj ET Q q 0 0 0 rg BT 228.35 256.85 Td (level ) Tj ET Q q 0 0 0 rg BT 253.58 256.85 Td (caused ) Tj ET Q q 0 0 0 rg BT 287.74 256.85 Td (by ) Tj ET Q q 0 0 0 rg BT 302.12 256.85 Td (changes ) Tj ET Q q 0 0 0 rg BT 342.03 256.85 Td (to ) Tj ET Q q 0 0 0 rg BT 353.85 256.85 Td (the ) Tj ET Q q 0 0 0 rg BT 370.78 256.85 Td (applicable ) Tj ET Q q 0 0 0 rg BT 420.27 256.85 Td (Arizona ) Tj ET Q q 0 0 0 rg BT 460.18 256.85 Td (property ) Tj ET Q q 0 0 0 rg BT 502.02 256.85 Td (tax ) Tj ET Q q 0 0 0 rg BT 518.94 256.85 Td (rate;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 243.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 243.05 Td (an ) Tj ET Q q 0 0 0 rg BT 116.83 243.05 Td (expansion ) Tj ET Q q 0 0 0 rg BT 165.94 243.05 Td (of ) Tj ET Q q 0 0 0 rg BT 178.00 243.05 Td (the ) Tj ET Q q 0 0 0 rg BT 194.53 243.05 Td (Power ) Tj ET Q q 0 0 0 rg BT 226.39 243.05 Td (Supply ) Tj ET Q q 0 0 0 rg BT 260.92 243.05 Td (Adjustor ) Tj ET Q q 0 0 0 rg BT 303.65 243.05 Td (\(PSA\) ) Tj ET Q q 0 0 0 rg BT 345.09 243.05 Td (to ) Tj ET Q q 0 0 0 rg BT 356.52 243.05 Td (include ) Tj ET Q q 0 0 0 rg BT 392.84 243.05 Td (certain ) Tj ET Q q 0 0 0 rg BT 426.61 243.05 Td (environmental ) Tj ET Q q 0 0 0 rg BT 495.51 243.05 Td (chemical ) Tj ET Q q 0 0 0 rg BT 539.49 243.05 Td (costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 229.25 Td (and ) Tj ET Q q 0 0 0 rg BT 122.98 229.25 Td (third-party ) Tj ET Q q 0 0 0 rg BT 175.03 229.25 Td (battery ) Tj ET Q q 0 0 0 rg BT 209.84 229.25 Td (storage ) Tj ET Q q 0 0 0 rg BT 245.92 229.25 Td (costs;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 215.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 215.45 Td (a ) Tj ET Q q 0 0 0 rg BT 110.74 215.45 Td (new ) Tj ET Q q 0 0 0 rg BT 131.56 215.45 Td (AZ ) Tj ET Q q 0 0 0 rg BT 149.02 215.45 Td (Sun ) Tj ET Q q 0 0 0 rg BT 169.04 215.45 Td (II ) Tj ET Q q 0 0 0 rg BT 178.83 215.45 Td (program ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 219.92 215.45 Td (\(now ) Tj ET Q q 0 0 0 rg BT 244.57 215.45 Td (known ) Tj ET Q q 0 0 0 rg BT 276.55 215.45 Td (as ) Tj ET Q q 0 0 0 rg BT 287.75 215.45 Td ("APS ) Tj ET Q q 0 0 0 rg BT 314.46 215.45 Td (Solar ) Tj ET Q q 0 0 0 rg BT 339.72 215.45 Td (Communities"\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 409.19 215.45 Td (for ) Tj ET Q q 0 0 0 rg BT 424.73 215.45 Td (utility-owned ) Tj ET Q q 0 0 0 rg BT 488.83 215.45 Td (solar ) Tj ET Q q 0 0 0 rg BT 513.31 215.45 Td (distributed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 201.65 Td (generation ) Tj ET Q q 0 0 0 rg BT 156.58 201.65 Td (with ) Tj ET Q q 0 0 0 rg BT 181.57 201.65 Td (the ) Tj ET Q q 0 0 0 rg BT 200.17 201.65 Td (purpose ) Tj ET Q q 0 0 0 rg BT 241.13 201.65 Td (of ) Tj ET Q q 0 0 0 rg BT 255.25 201.65 Td (expanding ) Tj ET Q q 0 0 0 rg BT 307.70 201.65 Td (access ) Tj ET Q q 0 0 0 rg BT 341.62 201.65 Td (to ) Tj ET Q q 0 0 0 rg BT 355.11 201.65 Td (rooftop ) Tj ET Q q 0 0 0 rg BT 393.51 201.65 Td (solar ) Tj ET Q q 0 0 0 rg BT 420.42 201.65 Td (for ) Tj ET Q q 0 0 0 rg BT 438.37 201.65 Td (low ) Tj ET Q q 0 0 0 rg BT 460.17 201.65 Td (and ) Tj ET Q q 0 0 0 rg BT 481.32 201.65 Td (moderate ) Tj ET Q q 0 0 0 rg BT 528.65 201.65 Td (income ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 187.85 Td (Arizonans, ) Tj ET Q q 0 0 0 rg BT 157.07 187.85 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 214.13 187.85 Td (through ) Tj ET Q q 0 0 0 rg BT 253.34 187.85 Td (the ) Tj ET Q q 0 0 0 rg BT 270.06 187.85 Td (Arizona ) Tj ET Q q 0 0 0 rg BT 310.53 187.85 Td (Renewable ) Tj ET Q q 0 0 0 rg BT 365.06 187.85 Td (Ener) Tj ET Q q 0 0 0 rg BT 386.56 187.85 Td (gy ) Tj ET Q q 0 0 0 rg BT 401.49 187.85 Td (Standard ) Tj ET Q q 0 0 0 rg BT 445.80 187.85 Td (and ) Tj ET Q q 0 0 0 rg BT 465.59 187.85 Td (T) Tj ET Q q 0 0 0 rg BT 471.81 187.85 Td (arif) Tj ET Q q 0 0 0 rg BT 487.56 187.85 Td (f ) Tj ET Q q 0 0 0 rg BT 494.82 187.85 Td (\("RES"\), ) Tj ET Q q 0 0 0 rg BT 539.27 187.85 Td (to ) Tj ET Q q 0 0 0 rg BT 551.65 187.85 Td (be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 174.05 Td (no ) Tj ET Q q 0 0 0 rg BT 117.88 174.05 Td (less ) Tj ET Q q 0 0 0 rg BT 138.00 174.05 Td (than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 160.68 174.05 Td ($10 ) Tj ET Q q 0 0 0 rg BT 180.80 174.05 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.03 174.05 Td ( ) Tj ET Q q 0 0 0 rg BT 216.90 174.05 Td (per ) Tj ET Q q 0 0 0 rg BT 234.46 174.05 Td (year) Tj ET Q q 0 0 0 rg BT 253.79 174.05 Td (, ) Tj ET Q q 0 0 0 rg BT 259.54 174.05 Td (and ) Tj ET Q q 0 0 0 rg BT 279.02 174.05 Td (not ) Tj ET Q q 0 0 0 rg BT 296.59 174.05 Td (more ) Tj ET Q q 0 0 0 rg BT 323.09 174.05 Td (than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.77 174.05 Td ($15 ) Tj ET Q q 0 0 0 rg BT 365.89 174.05 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 399.12 174.05 Td ( ) Tj ET Q q 0 0 0 rg BT 402.00 174.05 Td (per ) Tj ET Q q 0 0 0 rg BT 419.55 174.05 Td (year;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 160.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 160.25 Td (an ) Tj ET Q q 0 0 0 rg BT 118.67 160.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 160.65 160.25 Td (to ) Tj ET Q q 0 0 0 rg BT 173.91 160.25 Td (the ) Tj ET Q q 0 0 0 rg BT 192.27 160.25 Td (per ) Tj ET Q q 0 0 0 rg BT 211.26 160.25 Td (kWh ) Tj ET Q q 0 0 0 rg BT 237.93 160.25 Td (cap ) Tj ET Q q 0 0 0 rg BT 258.20 160.25 Td (for ) Tj ET Q q 0 0 0 rg BT 275.92 160.25 Td (the ) Tj ET Q q 0 0 0 rg BT 294.29 160.25 Td (environmental ) Tj ET Q q 0 0 0 rg BT 365.02 160.25 Td (improvement ) Tj ET Q q 0 0 0 rg BT 430.66 160.25 Td (surchar) Tj ET Q q 0 0 0 rg BT 464.29 160.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 479.46 160.25 Td (from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 506.13 160.25 Td ($0.00016) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 549.25 160.25 Td ( ) Tj ET Q q 0 0 0 rg BT 553.56 160.25 Td (to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 146.45 Td ($0.00050) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 146.63 146.45 Td ( ) Tj ET Q q 0 0 0 rg BT 149.50 146.45 Td (and ) Tj ET Q q 0 0 0 rg BT 168.98 146.45 Td (the ) Tj ET Q q 0 0 0 rg BT 185.90 146.45 Td (addition ) Tj ET Q q 0 0 0 rg BT 226.47 146.45 Td (of ) Tj ET Q q 0 0 0 rg BT 238.92 146.45 Td (a ) Tj ET Q q 0 0 0 rg BT 246.90 146.45 Td (balancing ) Tj ET Q q 0 0 0 rg BT 294.48 146.45 Td (account;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 132.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 132.65 Td (rate ) Tj ET Q q 0 0 0 rg BT 123.61 132.65 Td (design ) Tj ET Q q 0 0 0 rg BT 156.51 132.65 Td (changes, ) Tj ET Q q 0 0 0 rg BT 199.30 132.65 Td (including:) Tj ET Q BT /F1 11.50 Tf ET /GS0 gs q 4.79 0 0 11.46 139.50 116.37 cm /I26 Do Q q 0 0 0 rg BT 144.29 118.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 118.85 Td (a ) Tj ET Q q 0 0 0 rg BT 165.29 118.85 Td (change ) Tj ET Q q 0 0 0 rg BT 200.54 118.85 Td (in ) Tj ET Q q 0 0 0 rg BT 212.17 118.85 Td (the ) Tj ET Q q 0 0 0 rg BT 228.91 118.85 Td (on-peak ) Tj ET Q q 0 0 0 rg BT 268.63 118.85 Td (time ) Tj ET Q q 0 0 0 rg BT 291.76 118.85 Td (of ) Tj ET Q q 0 0 0 rg BT 304.02 118.85 Td (use ) Tj ET Q q 0 0 0 rg BT 322.04 118.85 Td (period ) Tj ET Q q 0 0 0 rg BT 354.10 118.85 Td (from ) Tj ET Q q 0 0 0 rg BT 379.14 118.85 Td (noon ) Tj ET Q q 0 0 0 rg BT 404.83 118.85 Td (- ) Tj ET Q q 0 0 0 rg BT 411.34 118.85 Td (7 ) Tj ET Q q 0 0 0 rg BT 419.78 118.85 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 442.91 118.85 Td (to ) Tj ET Q q 0 0 0 rg BT 454.54 118.85 Td (3 ) Tj ET Q q 0 0 0 rg BT 462.97 118.85 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 486.11 118.85 Td (- ) Tj ET Q q 0 0 0 rg BT 492.62 118.85 Td (8 ) Tj ET Q q 0 0 0 rg BT 501.06 118.85 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 524.19 118.85 Td (Monday ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 105.05 Td (through ) Tj ET Q q 0 0 0 rg BT 196.15 105.05 Td (Friday) Tj ET Q q 0 0 0 rg BT 225.43 105.05 Td (, ) Tj ET Q q 0 0 0 rg BT 231.18 105.05 Td (excluding ) Tj ET Q q 0 0 0 rg BT 279.40 105.05 Td (holidays; ) Tj ET Q BT /F1 11.50 Tf ET /GS0 gs q 4.79 0 0 11.46 139.50 88.77 cm /I27 Do Q q 0 0 0 rg BT 144.29 91.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 91.25 Td (non-grandfathered ) Tj ET Q q 0 0 0 rg BT 245.66 91.25 Td (distributed ) Tj ET Q q 0 0 0 rg BT 298.07 91.25 Td (generation ) Tj ET Q q 0 0 0 rg BT 349.83 91.25 Td (\("DG"\) ) Tj ET Q q 0 0 0 rg BT 386.71 91.25 Td (customers ) Tj ET Q q 0 0 0 rg BT 436.57 91.25 Td (would ) Tj ET Q q 0 0 0 rg BT 468.54 91.25 Td (be ) Tj ET Q q 0 0 0 rg BT 482.62 91.25 Td (required ) Tj ET Q q 0 0 0 rg BT 524.16 91.25 Td (to ) Tj ET Q q 0 0 0 rg BT 536.33 91.25 Td (select ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 77.45 Td (a ) Tj ET Q q 0 0 0 rg BT 166.27 77.45 Td (rate ) Tj ET Q q 0 0 0 rg BT 187.17 77.45 Td (option ) Tj ET Q q 0 0 0 rg BT 220.22 77.45 Td (that ) Tj ET Q q 0 0 0 rg BT 241.13 77.45 Td (has ) Tj ET Q q 0 0 0 rg BT 260.12 77.45 Td (time ) Tj ET Q q 0 0 0 rg BT 284.23 77.45 Td (of ) Tj ET Q q 0 0 0 rg BT 297.47 77.45 Td (use ) Tj ET Q q 0 0 0 rg BT 316.47 77.45 Td (rates ) Tj ET Q q 0 0 0 rg BT 341.84 77.45 Td (and ) Tj ET Q q 0 0 0 rg BT 362.11 77.45 Td (either ) Tj ET Q q 0 0 0 rg BT 391.95 77.45 Td (a ) Tj ET Q q 0 0 0 rg BT 400.72 77.45 Td (new ) Tj ET Q q 0 0 0 rg BT 423.54 77.45 Td (grid ) Tj ET Q q 0 0 0 rg BT 445.73 77.45 Td (access ) Tj ET Q q 0 0 0 rg BT 478.77 77.45 Td (char) Tj ET Q q 0 0 0 rg BT 498.35 77.45 Td (ge ) Tj ET Q q 0 0 0 rg BT 512.87 77.45 Td (or ) Tj ET Q q 0 0 0 rg BT 526.11 77.45 Td (demand ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 63.65 Td (component; ) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (21) Tj ET Q BT /F1 11.50 Tf ET /GS0 gs q 4.79 0 0 11.46 139.50 709.57 cm /I28 Do Q q 0 0 0 rg BT 144.29 712.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 712.05 Td (a ) Tj ET Q q 0 0 0 rg BT 164.75 712.05 Td (Resource ) Tj ET Q q 0 0 0 rg BT 209.67 712.05 Td (Comparison ) Tj ET Q q 0 0 0 rg BT 268.04 712.05 Td (Proxy ) Tj ET Q q 0 0 0 rg BT 297.65 712.05 Td (\(RCP\) ) Tj ET Q q 0 0 0 rg BT 339.40 712.05 Td (for ) Tj ET Q q 0 0 0 rg BT 354.95 712.05 Td (exported ) Tj ET Q q 0 0 0 rg BT 397.32 712.05 Td (ener) Tj ET Q q 0 0 0 rg BT 416.90 712.05 Td (gy ) Tj ET Q q 0 0 0 rg BT 430.54 712.05 Td (of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 442.26 712.05 Td (12.9 ) Tj ET Q q 0 0 0 rg BT 464.53 712.05 Td (cents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.16 712.05 Td ( ) Tj ET Q q 0 0 0 rg BT 490.30 712.05 Td (per ) Tj ET Q q 0 0 0 rg BT 507.13 712.05 Td (kWh ) Tj ET Q q 0 0 0 rg BT 531.62 712.05 Td (in ) Tj ET Q q 0 0 0 rg BT 542.71 712.05 Td (year ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 698.25 Td (one; ) Tj ET Q q 0 0 0 rg BT 180.17 698.25 Td (and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 684.45 Td (an ) Tj ET Q q 0 0 0 rg BT 117.63 684.45 Td (agreement ) Tj ET Q q 0 0 0 rg BT 168.79 684.45 Td (by ) Tj ET Q q 0 0 0 rg BT 182.85 684.45 Td (APS ) Tj ET Q q 0 0 0 rg BT 207.22 684.45 Td (not ) Tj ET Q q 0 0 0 rg BT 225.19 684.45 Td (to ) Tj ET Q q 0 0 0 rg BT 237.41 684.45 Td (pursue ) Tj ET Q q 0 0 0 rg BT 271.34 684.45 Td (any ) Tj ET Q q 0 0 0 rg BT 291.22 684.45 Td (new ) Tj ET Q q 0 0 0 rg BT 313.66 684.45 Td (self-build ) Tj ET Q q 0 0 0 rg BT 361.01 684.45 Td (generation ) Tj ET Q q 0 0 0 rg BT 412.81 684.45 Td (\(with ) Tj ET Q q 0 0 0 rg BT 440.37 684.45 Td (certain ) Tj ET Q q 0 0 0 rg BT 474.92 684.45 Td (exceptions\) ) Tj ET Q q 0 0 0 rg BT 531.21 684.45 Td (having ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 670.65 Td (an ) Tj ET Q q 0 0 0 rg BT 118.58 670.65 Td (in-service ) Tj ET Q q 0 0 0 rg BT 168.15 670.65 Td (date ) Tj ET Q q 0 0 0 rg BT 191.54 670.65 Td (prior ) Tj ET Q q 0 0 0 rg BT 218.12 670.65 Td (to ) Tj ET Q q 0 0 0 rg BT 231.29 670.65 Td (January ) Tj ET Q q 0 0 0 rg BT 271.29 670.65 Td (1, ) Tj ET Q q 0 0 0 rg BT 284.14 670.65 Td (2022 ) Tj ET Q q 0 0 0 rg BT 311.37 670.65 Td (\(extended ) Tj ET Q q 0 0 0 rg BT 360.94 670.65 Td (to ) Tj ET Q q 0 0 0 rg BT 374.12 670.65 Td (December ) Tj ET Q q 0 0 0 rg BT 425.59 670.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 444.20 670.65 Td (2027 ) Tj ET Q q 0 0 0 rg BT 471.43 670.65 Td (for ) Tj ET Q q 0 0 0 rg BT 489.07 670.65 Td (combined-cycle ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 656.85 Td (generating ) Tj ET Q q 0 0 0 rg BT 154.91 656.85 Td (units\), ) Tj ET Q q 0 0 0 rg BT 186.85 656.85 Td (unless ) Tj ET Q q 0 0 0 rg BT 218.48 656.85 Td (expressly ) Tj ET Q q 0 0 0 rg BT 264.79 656.85 Td (authorized ) Tj ET Q q 0 0 0 rg BT 316.20 656.85 Td (by ) Tj ET Q q 0 0 0 rg BT 330.57 656.85 Td (the ) Tj ET Q q 0 0 0 rg BT 346.86 656.85 Td (ACC. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (Through a separate agreement, ) Tj ET Q q 0 0 0 rg BT 193.51 629.25 Td (APS, industry representatives, and solar advocates committed to stand by the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (2017 Settlement ) Tj ET Q q 0 0 0 rg BT 126.80 615.45 Td (Agreement and refrain from seeking to undermine it through ballot initiatives, legislation or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (advocacy at the ) Tj ET Q q 0 0 0 rg BT 123.26 601.65 Td (ACC.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 574.05 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 574.05 Td (August 15, 2017, the ) Tj ET Q q 0 0 0 rg BT 200.19 574.05 Td (ACC approved \(by a vote of 4-1\), the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 452.82 574.05 Td (Agreement without ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (material modifications. On ) Tj ET Q q 0 0 0 rg BT 178.21 560.25 Td (August 18, 2017, the ) Tj ET Q q 0 0 0 rg BT 276.60 560.25 Td (ACC issued a final written Opinion and Order reflecting its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (decision in ) Tj ET Q q 0 0 0 rg BT 101.89 546.45 Td (APS) Tj ET Q q 0 0 0 rg BT 126.18 546.45 Td (s general retail rate case \(the "2017 Rate Case Decision"\), which is subject to requests for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (rehearing and potential appeal. ) Tj ET Q q 0 0 0 rg BT 196.81 532.65 Td (The new rates went into ef) Tj ET Q q 0 0 0 rg BT 318.91 532.65 Td (fect on ) Tj ET Q q 0 0 0 rg BT 352.76 532.65 Td (August 19, 2017. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 505.05 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 505.05 Td (August 20, 2017, Commissioner Burns filed a special action petition in the ) Tj ET Q q 0 0 0 rg BT 448.04 505.05 Td (Arizona Supreme Court ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (seeking to vacate the ) Tj ET Q q 0 0 0 rg BT 147.85 491.25 Td (ACC's order approving the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 351.79 491.25 Td (Agreement so that alleged issues of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (disqualification and bias on the part of the other Commissioners can be fully investigated. ) Tj ET Q q 0 0 0 rg BT 470.77 477.45 Td (APS opposed the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (petition, and on October 17, 2017, the ) Tj ET Q q 0 0 0 rg BT 226.44 463.65 Td (Arizona Supreme Court declined to accept jurisdiction over ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (Commissioner Burns) Tj ET Q q 0 0 0 rg BT 149.91 449.85 Td ( special action petition.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 422.25 Td (On October 17, 2017, ) Tj ET Q q 0 0 0 rg BT 188.14 422.25 Td (W) Tj ET Q q 0 0 0 rg BT 198.07 422.25 Td (arren ) Tj ET Q q 0 0 0 rg BT 224.36 422.25 Td (W) Tj ET Q q 0 0 0 rg BT 234.29 422.25 Td (oodward \(an intervener in ) Tj ET Q q 0 0 0 rg BT 355.64 422.25 Td (APS's general retail rate case\) filed a Notice ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (of ) Tj ET Q q 0 0 0 rg BT 61.32 408.45 Td (Appeal in the ) Tj ET Q q 0 0 0 rg BT 125.52 408.45 Td (Arizona Court of ) Tj ET Q q 0 0 0 rg BT 206.32 408.45 Td (Appeals, Division One. ) Tj ET Q q 0 0 0 rg BT 319.82 408.45 Td (The notice raises a single issue related to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (application of certain rate schedules to new ) Tj ET Q q 0 0 0 rg BT 251.00 394.65 Td (APS residential customers after May 1, 2018. Mr) Tj ET Q q 0 0 0 rg BT 476.81 394.65 Td (. ) Tj ET Q q 0 0 0 rg BT 482.36 394.65 Td (W) Tj ET Q q 0 0 0 rg BT 492.29 394.65 Td (oodward filed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (a second notice of appeal on November 13, 2017 challenging ) Tj ET Q q 0 0 0 rg BT 333.41 380.85 Td (APS) Tj ET Q q 0 0 0 rg BT 357.70 380.85 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 365.05 380.85 Td ($5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.55 380.85 Td ( per month automated metering ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (infrastructure opt-out program. Mr) Tj ET Q q 0 0 0 rg BT 211.42 367.05 Td (. ) Tj ET Q q 0 0 0 rg BT 216.96 367.05 Td (W) Tj ET Q q 0 0 0 rg BT 226.89 367.05 Td (oodward) Tj ET Q q 0 0 0 rg BT 270.33 367.05 Td (s two appeals have been consolidated, and ) Tj ET Q q 0 0 0 rg BT 467.05 367.05 Td (APS has filed a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (motion to intervene. Mr) Tj ET Q q 0 0 0 rg BT 161.61 353.25 Td (. ) Tj ET Q q 0 0 0 rg BT 167.15 353.25 Td (W) Tj ET Q q 0 0 0 rg BT 177.09 353.25 Td (oodward filed his opening brief on March 28, 2018. ) Tj ET Q q 0 0 0 rg BT 420.46 353.25 Td (APS cannot predict the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (outcome of this consolidated appeal but does not believe it will have a material impact on our financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (position, results of operations or cash flows. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 298.05 Td (On January 3, 2018, an ) Tj ET Q q 0 0 0 rg BT 194.41 298.05 Td (APS customer filed a petition with the ) Tj ET Q q 0 0 0 rg BT 372.97 298.05 Td (ACC that was determined by the ) Tj ET Q q 0 0 0 rg BT 525.64 298.05 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (Staf) Tj ET Q q 0 0 0 rg BT 67.82 284.25 Td (f to be a complaint filed pursuant to ) Tj ET Q q 0 0 0 rg BT 234.53 284.25 Td (Arizona Revised Statute 40-246 \(the Complaint\) and not a request ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (for rehearing. ) Tj ET Q q 0 0 0 rg BT 114.32 270.45 Td (Arizona Revised Statute 40-246 requires the ) Tj ET Q q 0 0 0 rg BT 326.38 270.45 Td (ACC to hold a hearing regarding any complaint ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (alleging that a public service corporation is in violation of any commission order or that the rates being ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (char) Tj ET Q q 0 0 0 rg BT 69.08 242.85 Td (ged are not just and reasonable if the complaint is signed by at least ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 382.69 242.85 Td (twenty-five) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 435.70 242.85 Td ( customers of the public ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (service corporation. ) Tj ET Q q 0 0 0 rg BT 146.37 229.05 Td (The Complaint alleged that ) Tj ET Q q 0 0 0 rg BT 274.12 229.05 Td (APS is in violation of commission order [sic]. On February ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (13, 2018, the complainant filed an amended Complaint alleging that the rates and char) Tj ET Q q 0 0 0 rg BT 446.25 215.25 Td (ges in the 2017 Rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (Case Decision are not just and reasonable. ) Tj ET Q q 0 0 0 rg BT 249.53 201.45 Td (The complainant is requesting that the ) Tj ET Q q 0 0 0 rg BT 427.74 201.45 Td (ACC hold a hearing on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (amended Complaint to determine if the average bill impact on residential customers of the rates and char) Tj ET Q q 0 0 0 rg BT 531.50 187.65 Td (ges ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (approved in the 2017 Rate Case Decision is greater than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 310.73 173.85 Td (4.54%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 340.44 173.85 Td ( \(the average annual bill impact for a typical ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (APS residential customer estimated by ) Tj ET Q q 0 0 0 rg BT 229.96 160.05 Td (APS\) and, if so, what ef) Tj ET Q q 0 0 0 rg BT 339.95 160.05 Td (fect the alleged greater bill impact has on ) Tj ET Q q 0 0 0 rg BT 532.18 160.05 Td (APS's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (revenues and the overall reasonableness and justness of ) Tj ET Q q 0 0 0 rg BT 306.90 146.25 Td (APS's rates and char) Tj ET Q q 0 0 0 rg BT 401.06 146.25 Td (ges, in order to determine if there ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (is suf) Tj ET Q q 0 0 0 rg BT 73.89 132.45 Td (ficient evidence to warrant a full-scale rate hearing. In ) Tj ET Q q 0 0 0 rg BT 328.37 132.45 Td (April 2018, the judge set a procedural schedule for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (this matter and a hearing is scheduled for September 2018. ) Tj ET Q q 0 0 0 rg BT 324.79 118.65 Td (APS cannot predict the outcome of this matter) Tj ET Q q 0 0 0 rg BT 537.18 118.65 Td (. ) Tj ET Q endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (22) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 52.38 712.05 Td (Prior Rate Case Filing with the ) Tj ET Q q 0 0 0 rg BT 203.40 712.05 Td (Arizona Corporation Commission) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.45 Td (On June1, 201) Tj ET Q q 0 0 0 rg BT 154.71 684.45 Td (1, ) Tj ET Q q 0 0 0 rg BT 165.57 684.45 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 320.81 684.45 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 511.43 684.45 Td ($95.5 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 670.65 Td (. On January6, 2012, ) Tj ET Q q 0 0 0 rg BT 186.54 670.65 Td (APS and other parties to the general retail rate case entered into an agreement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (\(the "2012 Settlement ) Tj ET Q q 0 0 0 rg BT 152.25 656.85 Td (Agreement"\) detailing the terms upon which the parties agreed to settle the rate case. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (May15, 2012, the ) Tj ET Q q 0 0 0 rg BT 135.75 643.05 Td (ACC approved the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 302.16 643.05 Td (Agreement without material modifications.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (Cost Recovery Mechanisms) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 587.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 587.85 Td (APS has received regulatory decisions that allow for more timely recovery of certain costs outside of a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (general retail rate case through the following recovery mechanisms.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 560.25 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 546.45 Td (Renewable Energy Standard) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 220.96 546.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 223.83 546.45 Td ( In 2006, the ) Tj ET Q q 0 0 0 rg BT 287.08 546.45 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 49.50 532.65 Td (that are regulated by the ) Tj ET Q q 0 0 0 rg BT 162.86 532.65 Td (ACC must supply an increasing percentage of their retail electric ener) Tj ET Q q 0 0 0 rg BT 483.90 532.65 Td (gy sales from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (eligible renewable resources, including solar) Tj ET Q q 0 0 0 rg BT 254.37 518.85 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 49.50 505.05 Td (achieve these requirements, the ) Tj ET Q q 0 0 0 rg BT 196.07 505.05 Td (ACC allows ) Tj ET Q q 0 0 0 rg BT 254.86 505.05 Td (APS to include a RES surchar) Tj ET Q q 0 0 0 rg BT 392.95 505.05 Td (ge as part of customer bills to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (recover the approved amounts for use on renewable ener) Tj ET Q q 0 0 0 rg BT 309.85 491.25 Td (gy projects. Each year ) Tj ET Q q 0 0 0 rg BT 417.14 491.25 Td (APS is required to file a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 530.85 491.25 Td (five) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.73 491.25 Td (-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (year implementation plan with the ) Tj ET Q q 0 0 0 rg BT 209.51 477.45 Td (ACC and seek approval for funding the upcoming year) Tj ET Q q 0 0 0 rg BT 462.87 477.45 Td () Tj ET Q q 0 0 0 rg BT 466.06 477.45 Td (s RES budget.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 463.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 449.85 Td (In 2013, the ) Tj ET Q q 0 0 0 rg BT 143.00 449.85 Td (ACC conducted a hearing to consider ) Tj ET Q q 0 0 0 rg BT 318.01 449.85 Td (APS) Tj ET Q q 0 0 0 rg BT 342.30 449.85 Td (s proposal to establish compliance with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (distributed ener) Tj ET Q q 0 0 0 rg BT 121.15 436.05 Td (gy requirements by tracking and recording distributed ener) Tj ET Q q 0 0 0 rg BT 391.43 436.05 Td (gy) Tj ET Q q 0 0 0 rg BT 402.18 436.05 Td (, rather than acquiring and retiring ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (renewable ener) Tj ET Q q 0 0 0 rg BT 119.20 422.25 Td (gy credits. On February6, 2014, the ) Tj ET Q q 0 0 0 rg BT 287.84 422.25 Td (ACC established a proceeding to modify the renewable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 408.45 Td (gy rulesto establish a process for compliance with the renewable ener) Tj ET Q q 0 0 0 rg BT 391.08 408.45 Td (gy requirement that is not based ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (solely on the use of renewable ener) Tj ET Q q 0 0 0 rg BT 211.51 394.65 Td (gy credits. On September 9, 2014, the ) Tj ET Q q 0 0 0 rg BT 387.81 394.65 Td (ACC authorized a rulemaking ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (process to modify the RES rules. ) Tj ET Q q 0 0 0 rg BT 203.57 380.85 Td (The proposed changes would permit the ) Tj ET Q q 0 0 0 rg BT 390.08 380.85 Td (ACC to find that utilities have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (complied with the distributed ener) Tj ET Q q 0 0 0 rg BT 207.06 367.05 Td (gy requirement in light of all available information. ) Tj ET Q q 0 0 0 rg BT 446.69 367.05 Td (The ) Tj ET Q q 0 0 0 rg BT 466.81 367.05 Td (ACC adopted these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (changes on December 18, 2014. ) Tj ET Q q 0 0 0 rg BT 202.58 353.25 Td (The revised rules went into ef) Tj ET Q q 0 0 0 rg BT 339.37 353.25 Td (fect on ) Tj ET Q q 0 0 0 rg BT 373.22 353.25 Td (April 21, 2015. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 325.65 Td (In December 2014, the ) Tj ET Q q 0 0 0 rg BT 193.12 325.65 Td (ACC voted that it had no objection to ) Tj ET Q q 0 0 0 rg BT 368.16 325.65 Td (APS implementing an ) Tj ET Q q 0 0 0 rg BT 471.98 325.65 Td (APS-owned ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (rooftop solar research and development program aimed at learning how to ef) Tj ET Q q 0 0 0 rg BT 402.16 311.85 Td (ficiently enable the integration of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (rooftop solar and battery storage with the grid. ) Tj ET Q q 0 0 0 rg BT 269.02 298.05 Td (The first stage of the program, called the "Solar Partner ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (Program," placed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 132.43 284.25 Td (8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 138.18 284.25 Td ( megawatts \("MW"\) of residential rooftop solar on strategically selected distribution feeders ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (in an ef) Tj ET Q q 0 0 0 rg BT 83.78 270.45 Td (fort to maximize potential system benefits, as well as made systems available to limited-income ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (customers who could not easily install solar through transactions with third parties.) Tj ET Q q 0 0 0 rg BT 434.17 256.65 Td (The second stage of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (program, which included an additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 230.26 242.85 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 236.01 242.85 Td ( MW) Tj ET Q q 0 0 0 rg BT 259.76 242.85 Td ( of rooftop solar and ener) Tj ET Q q 0 0 0 rg BT 376.10 242.85 Td (gy storage, placed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.32 242.85 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.57 242.85 Td ( ener) Tj ET Q q 0 0 0 rg BT 502.03 242.85 Td (gy storage ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (systems sized at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 126.48 229.05 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 132.23 229.05 Td ( MW) Tj ET Q q 0 0 0 rg BT 155.97 229.05 Td ( on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 173.22 229.05 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.47 229.05 Td ( dif) Tj ET Q q 0 0 0 rg BT 205.92 229.05 Td (ferent high solar penetration feeders to test various grid-related operation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (improvements and system interoperability) Tj ET Q q 0 0 0 rg BT 242.62 215.25 Td (, and was in operation by the end of 2016. ) Tj ET Q q 0 0 0 rg BT 441.38 215.25 Td (The costs for this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (program have been included in ) Tj ET Q q 0 0 0 rg BT 194.16 201.45 Td (APS's rate base as part of the 2017 Rate Case Decision.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 173.85 Td (On July 1, 2016, ) Tj ET Q q 0 0 0 rg BT 164.09 173.85 Td (APS filed its 2017 RES Implementation Plan and proposed a budget of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td ($150 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 108.60 160.05 Td (. ) Tj ET Q q 0 0 0 rg BT 116.59 160.05 Td (APS) Tj ET Q q 0 0 0 rg BT 140.88 160.05 Td (s budget request included additional funding to process the high volume of residential ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (rooftop solar interconnection requests and also requested a permanent waiver of the residential distributed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 132.45 Td (gy requirement for 2017 contained in the RES rules. On ) Tj ET Q q 0 0 0 rg BT 331.62 132.45 Td (April 7, 2017, ) Tj ET Q q 0 0 0 rg BT 398.38 132.45 Td (APS filed an amended 2017 RES ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (Implementation Plan and updated budget request which included the revenue neutral transfer of specific ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (revenue requirements into base rates in accordance with the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 404.29 104.85 Td (Agreement. On ) Tj ET Q q 0 0 0 rg BT 480.30 104.85 Td (August 15, 2017, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 91.05 Td (ACC approved the 2017 RES Implementation Plan.) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (23) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 712.05 Td (On June 30, 2017, ) Tj ET Q q 0 0 0 rg BT 171.75 712.05 Td (APS filed its 2018 RES Implementation Plan and proposed a budget of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 698.25 Td ($90 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 172.15 698.25 Td (. ) Tj ET Q q 0 0 0 rg BT 180.14 698.25 Td (APS) Tj ET Q q 0 0 0 rg BT 204.43 698.25 Td (s budget request supports existing approved projects and commitments and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (includes the anticipated transfer of specific revenue requirements into base rates in accordance with the 2017 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (Settlement ) Tj ET Q q 0 0 0 rg BT 100.93 670.65 Td (Agreement and also requests a permanent waiver of the residential distributed ener) Tj ET Q q 0 0 0 rg BT 481.68 670.65 Td (gy requirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (for 2018 contained in the RES rules. ) Tj ET Q q 0 0 0 rg BT 222.30 656.85 Td (APS's 2018 RES budget request is lower than the 2017 RES budget due ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (in part to a certain portion of the RES being collected by ) Tj ET Q q 0 0 0 rg BT 312.02 643.05 Td (APS in base rates rather than through the RES ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (adjustor) Tj ET Q q 0 0 0 rg BT 85.92 629.25 Td (. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 601.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 601.65 Td (On November 20, 2017, ) Tj ET Q q 0 0 0 rg BT 199.21 601.65 Td (APS filed an updated 2018 RES budget to include budget adjustments for ) Tj ET Q q 0 0 0 rg BT 540.34 601.65 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (Solar Communities \(formerly known as ) Tj ET Q q 0 0 0 rg BT 234.44 587.85 Td (AZ Sun II\), which was approved as part of the 2017 Rate Case ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (Decision. ) Tj ET Q q 0 0 0 rg BT 98.37 574.05 Td (APS Solar Communities is a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.87 574.05 Td (3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.62 574.05 Td (-year program requiring ) Tj ET Q q 0 0 0 rg BT 351.34 574.05 Td (APS to spend ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 416.84 574.05 Td ($10) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 434.09 574.05 Td ( million -) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 476.90 574.05 Td ($15 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 530.25 574.05 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (capital costs each year to install utility-owned DG systems for low to moderate income residential homes, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (buildings of non-profit entities, ) Tj ET Q q 0 0 0 rg BT 195.90 546.45 Td (T) Tj ET Q q 0 0 0 rg BT 202.52 546.45 Td (itle I schools and rural government facilities. ) Tj ET Q q 0 0 0 rg BT 414.05 546.45 Td (The 2017 Rate Case Decision ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (provided that all operations and maintenance expenses, property taxes, marketing and advertising expenses, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (and the capital carrying costs for this program will be recovered through the RES. ) Tj ET Q q 0 0 0 rg BT 431.88 518.85 Td (The ) Tj ET Q q 0 0 0 rg BT 452.00 518.85 Td (ACC has not yet ruled ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (on ) Tj ET Q q 0 0 0 rg BT 63.24 505.05 Td (APS's 2018 RES Implementation Plan.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 477.45 Td (In September 2016, the ) Tj ET Q q 0 0 0 rg BT 195.05 477.45 Td (ACC initiated a proceeding which will examine the possible modernization and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (expansion of the RES. On January 30, 2018, ) Tj ET Q q 0 0 0 rg BT 259.04 463.65 Td (ACC Commissioner ) Tj ET Q q 0 0 0 rg BT 355.31 463.65 Td (T) Tj ET Q q 0 0 0 rg BT 361.53 463.65 Td (obin proposed a new standard in this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (proceeding which would broaden the RES to include a series of ener) Tj ET Q q 0 0 0 rg BT 364.49 449.85 Td (gy policies tied to clean ener) Tj ET Q q 0 0 0 rg BT 496.17 449.85 Td (gy sources ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (\(the "Ener) Tj ET Q q 0 0 0 rg BT 96.45 436.05 Td (gy Modernization Plan"\). ) Tj ET Q q 0 0 0 rg BT 218.79 436.05 Td (The Ener) Tj ET Q q 0 0 0 rg BT 261.05 436.05 Td (gy Modernization Plan includes replacing the current RES ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (standard with the Ener) Tj ET Q q 0 0 0 rg BT 153.08 422.25 Td (gy Modernization Plan. ) Tj ET Q q 0 0 0 rg BT 266.47 422.25 Td (APS cannot predict the outcome of this proceeding. ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 394.65 Td (Demand Side Management ) Tj ET Q q 0 0 0 rg BT 217.01 394.65 Td (Adjustor Charge \("DSMAC"\)) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 359.51 394.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.39 394.65 Td ( ) Tj ET Q q 0 0 0 rg BT 367.93 394.65 Td (The ) Tj ET Q q 0 0 0 rg BT 388.05 394.65 Td (ACC Electric Ener) Tj ET Q q 0 0 0 rg BT 474.70 394.65 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 499.72 394.65 Td (ficiency ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (Standards require ) Tj ET Q q 0 0 0 rg BT 132.53 380.85 Td (APS to submit a Demand Side Management Implementation Plan \("DSM Plan"\) annually for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (review by and approval of the ) Tj ET Q q 0 0 0 rg BT 189.37 367.05 Td (ACC. On March 20, 2015, ) Tj ET Q q 0 0 0 rg BT 316.83 367.05 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 472.06 367.05 Td (ACC requesting a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (budget of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 96.13 353.25 Td ($68.9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 158.11 353.25 Td ( for 2015 and minor modifications to its DSM portfolio going forward, including for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (the first time ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 111.14 339.45 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 134.12 339.45 Td ( resource savings projects which reflect ener) Tj ET Q q 0 0 0 rg BT 338.28 339.45 Td (gy savings on ) Tj ET Q q 0 0 0 rg BT 403.77 339.45 Td (APS's system. ) Tj ET Q q 0 0 0 rg BT 474.65 339.45 Td (The ) Tj ET Q q 0 0 0 rg BT 494.77 339.45 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (approved ) Tj ET Q q 0 0 0 rg BT 94.53 325.65 Td (APS) Tj ET Q q 0 0 0 rg BT 118.82 325.65 Td (s 2015 DSM budget on November 25, 2015. In its decision, the ) Tj ET Q q 0 0 0 rg BT 415.25 325.65 Td (ACC also ruled that verified ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 311.85 Td (gy savings from ) Tj ET Q q 0 0 0 rg BT 145.43 311.85 Td (APS's resource savings projects could be counted toward compliance with the Electric ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (Ener) Tj ET Q q 0 0 0 rg BT 71.00 298.05 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 96.02 298.05 Td (ficiency Standards; however) Tj ET Q q 0 0 0 rg BT 226.49 298.05 Td (, the ) Tj ET Q q 0 0 0 rg BT 248.53 298.05 Td (ACC ruled that ) Tj ET Q q 0 0 0 rg BT 321.04 298.05 Td (APS was not allowed to count savings from systems ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (savings projects toward determination of the achievement of performance incentives, nor may ) Tj ET Q q 0 0 0 rg BT 484.12 284.25 Td (APS include ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (savings from conservation voltage reduction in the calculation of its Lost Fixed Cost Recovery Mechanism ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (\(LFCR\) mechanism.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 229.05 Td (On June 1, 2016, ) Tj ET Q q 0 0 0 rg BT 166.00 229.05 Td (APS filed its 2017 DSM Plan, in which ) Tj ET Q q 0 0 0 rg BT 349.70 229.05 Td (APS proposed programs and measures that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (specifically focus on reducing peak demand, shifting load to of) Tj ET Q q 0 0 0 rg BT 339.27 215.25 Td (f-peak periods and educating customers about ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (strategies to manage their ener) Tj ET Q q 0 0 0 rg BT 189.79 201.45 Td (gy and demand. ) Tj ET Q q 0 0 0 rg BT 268.47 201.45 Td (The requested budget in the 2017 DSM Plan is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 486.62 201.45 Td ($62.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.60 201.45 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (On January 27, 2017, ) Tj ET Q q 0 0 0 rg BT 150.44 187.65 Td (APS filed an updated and modified 2017 DSM Plan that incorporated the proposed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (Residential Demand Response, Ener) Tj ET Q q 0 0 0 rg BT 217.28 173.85 Td (gy Storage and Load Management Program and requested that the budget ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (be increased to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.34 160.05 Td ($66.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 183.32 160.05 Td (. On ) Tj ET Q q 0 0 0 rg BT 208.24 160.05 Td (August 15, 2017, the ) Tj ET Q q 0 0 0 rg BT 306.63 160.05 Td (ACC approved the amended 2017 DSM Plan. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 132.45 Td (On September 1, 2017, ) Tj ET Q q 0 0 0 rg BT 194.10 132.45 Td (APS filed its 2018 DSM Plan, which proposes modifications to the demand ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (side management portfolio to better meet system and customer needs by focusing on peak demand reductions, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (storage, load shifting and demand response programs in addition to traditional ener) Tj ET Q q 0 0 0 rg BT 431.26 104.85 Td (gy savings measures. ) Tj ET Q q 0 0 0 rg BT 531.34 104.85 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (2018 DSM Plan seeks a reduced requested budget of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 295.10 91.05 Td ($52.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 357.08 91.05 Td ( and requests a waiver of the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 491.51 91.05 Td (Electric Ener) Tj ET Q q 0 0 0 rg BT 549.03 91.05 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (Ef) Tj ET Q q 0 0 0 rg BT 60.15 77.25 Td (ficiency Standard for 2018. On November 14, 2017, ) Tj ET Q q 0 0 0 rg BT 308.30 77.25 Td (APS filed an amended 2018 DSM Plan, which revised ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (the allocations between budget items to address customer participation levels, but kept the overall budget at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.65 Td ($52.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 111.48 49.65 Td (. ) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (24) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 698.25 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 91.25 698.25 Td (PSA) Tj ET Q q 0 0 0 rg BT 111.71 698.25 Td ( Mechanism and Balance.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.54 698.25 Td ( ) Tj ET Q q 0 0 0 rg BT 241.21 698.25 Td (The PSA) Tj ET Q q 0 0 0 rg BT 282.43 698.25 Td ( provides for the adjustment of retail rates to reflect ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (variations primarily in retail fuel and purchased power costs. ) Tj ET Q q 0 0 0 rg BT 334.48 684.45 Td (The following table shows the changes in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (deferred fuel and purchased power regulatory asset \(liability\) for 2018 and 2017 \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 605.35 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 605.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 605.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 605.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 573.35 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 573.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 573.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 573.35 65.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 620.35 m 494 620.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 620.35 m 498 620.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 620.35 m 563 620.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 620.35 m 494 620.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 605.35 m 494 605.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 620.35 m 563 620.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 605.35 m 563 605.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 605.35 m 494 605.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 605.35 m 563 605.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 557.35 m 494 557.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 557.35 m 563 557.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 557.35 m 494 557.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 542.35 m 494 542.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 540.35 m 494 540.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 557.35 m 563 557.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 542.35 m 563 542.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 540.35 m 563 540.35 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 625.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 445.45 636.25 Td (Thr) Tj ET Q q 0 0 0 rg BT 463.69 636.25 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 470.05 625.25 Td (Mar) Tj ET Q q 0 0 0 rg BT 493.47 625.25 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 610.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 450.00 610.25 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 519.00 610.25 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 595.22 Td (Beginning balance) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 431.50 594.27 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.50 594.27 Td (75,637) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 500.50 594.27 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 594.27 Td (12,465) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 579.22 Td (Deferred fuel and purchased power costs current period) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.50 578.27 Td (18,950) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.30 578.27 Td (988) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 563.22 Td (Amounts refunded/\(char) Tj ET Q q 0 0 0 rg BT 160.23 563.22 Td (ged\) to customers) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 455.85 562.27 Td (\(20,002) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 489.80 562.27 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.05 562.27 Td (4,172) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 547.22 Td (Ending balance) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 431.50 546.27 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.50 546.27 Td (74,585) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 500.50 546.27 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 546.27 Td (17,625) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 528.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 514.25 Td (The PSA) Tj ET Q q 0 0 0 rg BT 126.72 514.25 Td ( rate for the PSA) Tj ET Q q 0 0 0 rg BT 203.37 514.25 Td ( year beginning February1, 2017 was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.31 514.25 Td ($\(0.001348\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 436.84 514.25 Td ( per kWh, as compared to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.45 Td ($0.001678) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 98.38 500.45 Td ( per kWh for the prior year) Tj ET Q q 0 0 0 rg BT 221.63 500.45 Td (. ) Tj ET Q q 0 0 0 rg BT 230.05 500.45 Td (This rate was comprised of a forward component of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.16 500.45 Td ($\(0.001027\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.69 500.45 Td ( per ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.65 Td (kWh and a historical component of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.29 486.65 Td ($\(0.000321\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 270.82 486.65 Td ( per kWh. On ) Tj ET Q q 0 0 0 rg BT 338.53 486.65 Td (August 19, 2017 the PSA) Tj ET Q q 0 0 0 rg BT 455.15 486.65 Td ( rate was revised to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.85 Td ($0.000555) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 98.38 472.85 Td ( per kWh ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 144.04 472.85 Td (as part of the 2017 Rate Case Decision) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 314.80 472.85 Td (. ) Tj ET Q q 0 0 0 rg BT 323.21 472.85 Td (This new rate was comprised of a forward ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 459.05 Td (component of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 115.93 459.05 Td ($0.000876) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 164.80 459.05 Td ( per kWh and a historical component of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 350.03 459.05 Td ($\(0.000321\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.56 459.05 Td ( per kWh. ) Tj ET Q q 0 0 0 rg BT 457.77 459.05 Td (The PSA) Tj ET Q q 0 0 0 rg BT 498.98 459.05 Td ( rate for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.25 Td (PSA) Tj ET Q q 0 0 0 rg BT 69.96 445.25 Td ( year beginning February 1, 2018 is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 236.68 445.25 Td ($0.004555) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 285.56 445.25 Td ( per kWh, consisting of a forward component of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 509.75 445.25 Td ($0.002009) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.62 445.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 431.45 Td (per kWh and a historical component of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 234.72 431.45 Td ($0.002546) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 283.60 431.45 Td ( per kWh.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 417.65 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 403.85 Td (T) Tj ET Q q 0 0 0 rg BT 92.10 403.85 Td (ransmission Rates, T) Tj ET Q q 0 0 0 rg BT 191.05 403.85 Td (ransmission Cost ) Tj ET Q q 0 0 0 rg BT 274.99 403.85 Td (Adjustor \("TCA"\) and Other T) Tj ET Q q 0 0 0 rg BT 422.17 403.85 Td (ransmission Matters) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 518.99 403.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 524.74 403.85 Td ( In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 390.05 Td (July2008, FERC approved an Open ) Tj ET Q q 0 0 0 rg BT 218.48 390.05 Td (Access ) Tj ET Q q 0 0 0 rg BT 253.71 390.05 Td (T) Tj ET Q q 0 0 0 rg BT 260.33 390.05 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 317.95 390.05 Td (T) Tj ET Q q 0 0 0 rg BT 324.17 390.05 Td (arif) Tj ET Q q 0 0 0 rg BT 339.92 390.05 Td (f for ) Tj ET Q q 0 0 0 rg BT 362.28 390.05 Td (APS to move from fixed rates to a formula ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.25 Td (rate-setting methodology in order to more accurately reflect and recover the costs that ) Tj ET Q q 0 0 0 rg BT 446.42 376.25 Td (APS incurs in providing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.45 Td (transmission services. ) Tj ET Q q 0 0 0 rg BT 155.55 362.45 Td (A) Tj ET Q q 0 0 0 rg BT 163.22 362.45 Td ( lar) Tj ET Q q 0 0 0 rg BT 178.01 362.45 Td (ge portion of the rate represents char) Tj ET Q q 0 0 0 rg BT 346.40 362.45 Td (ges for transmission services to serve ) Tj ET Q q 0 0 0 rg BT 520.15 362.45 Td (APS's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.65 Td (retail customers \("Retail ) Tj ET Q q 0 0 0 rg BT 164.16 348.65 Td (T) Tj ET Q q 0 0 0 rg BT 170.78 348.65 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 250.75 348.65 Td (ges"\). In order to recover the Retail ) Tj ET Q q 0 0 0 rg BT 419.05 348.65 Td (T) Tj ET Q q 0 0 0 rg BT 425.67 348.65 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 505.64 348.65 Td (ges, ) Tj ET Q q 0 0 0 rg BT 526.08 348.65 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.85 Td (was previously required to file an application with, and obtain approval from, the ) Tj ET Q q 0 0 0 rg BT 425.39 334.85 Td (ACC to reflect changes in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.05 Td (Retail ) Tj ET Q q 0 0 0 rg BT 79.63 321.05 Td (T) Tj ET Q q 0 0 0 rg BT 86.25 321.05 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 166.22 321.05 Td (ges through the ) Tj ET Q q 0 0 0 rg BT 239.79 321.05 Td (TCA. Under the terms of the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 455.07 321.05 Td (Agreement, however) Tj ET Q q 0 0 0 rg BT 551.04 321.05 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.25 Td (an adjustment to rates to recover the Retail ) Tj ET Q q 0 0 0 rg BT 249.20 307.25 Td (T) Tj ET Q q 0 0 0 rg BT 255.82 307.25 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 335.79 307.25 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 49.50 293.45 Td (go into ef) Tj ET Q q 0 0 0 rg BT 93.37 293.45 Td (fect automatically unless suspended by the ) Tj ET Q q 0 0 0 rg BT 292.02 293.45 Td (ACC.) 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 (The formula rate is updated each year ef) Tj ET Q q 0 0 0 rg BT 270.80 265.85 Td (fective June1 on the basis of ) Tj ET Q q 0 0 0 rg BT 406.53 265.85 Td (APS's actual cost of service, as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 252.05 Td (disclosed in ) Tj ET Q q 0 0 0 rg BT 106.36 252.05 Td (APS's FERC Form1 report for the previous fiscal year) Tj ET Q q 0 0 0 rg BT 357.90 252.05 Td (. Items to be updated include actual capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.25 Td (expenditures made as compared with previous projections, transmission revenue credits and other items. ) Tj ET Q q 0 0 0 rg BT 535.37 238.25 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.45 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 516.11 224.45 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.65 Td (reviews the proposed formula rate filing amounts with the ) Tj ET Q q 0 0 0 rg BT 318.73 210.65 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 363.57 210.65 Td (f. ) Tj ET Q q 0 0 0 rg BT 375.39 210.65 Td (Any items or adjustments which are not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.85 Td (agreed to by ) Tj ET Q q 0 0 0 rg BT 108.58 196.85 Td (APS and the ) Tj ET Q q 0 0 0 rg BT 168.32 196.85 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 213.16 196.85 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 49.50 183.05 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 49.50 169.25 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 169.25 Td (fect on the Retail ) Tj ET Q q 0 0 0 rg BT 139.77 169.25 Td (T) Tj ET Q q 0 0 0 rg BT 146.39 169.25 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 226.36 169.25 Td (ges because any adjustment, though applied prospectively) Tj ET Q q 0 0 0 rg BT 492.28 169.25 Td (, may be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.45 Td (calculated to account for previously over) Tj ET Q q 0 0 0 rg BT 237.35 155.45 Td (- or under) Tj ET Q q 0 0 0 rg BT 282.46 155.45 Td (-collected amounts. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.25 Td ( ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 85.50 127.25 Td (Ef) Tj ET Q q 0 0 0 rg BT 96.61 127.25 Td (fective June1, 2017, ) Tj ET Q q 0 0 0 rg BT 198.59 127.25 Td (APS's annual wholesale transmission rates for all users of its transmission ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 49.50 112.85 Td (system increased by approximately ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 221.45 112.85 Td ($35.1 million) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 286.12 112.85 Td ( for the twelve-month period beginning June 1, 2017 in ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 49.50 98.45 Td (accordance with the FERC-approved formula. ) Tj ET Q q 0 0 0 rg BT 276.43 98.45 Td (An adjustment to ) Tj ET Q q 0 0 0 rg BT 361.42 98.45 Td (APS) Tj ET Q q 0 0 0 rg BT 386.77 98.45 Td (s retail rates to recover FERC ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 49.50 84.05 Td (approved transmission char) Tj ET Q q 0 0 0 rg BT 181.25 84.05 Td (ges went into ef) Tj ET Q q 0 0 0 rg BT 257.34 84.05 Td (fect automatically on June1, 2017.) Tj ET Q endstream endobj 55 0 obj <> endobj 56 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (25) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 712.05 Td (On January 31, 2017, ) Tj ET Q q 0 0 0 rg BT 186.44 712.05 Td (APS made a filing with FERC to reduce the Post-Employment Benefits Other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (than Pension expense reflected in its FERC transmission formula rate calculation to recognize certain savings ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (resulting from plan design changes to the other postretirement benefit plans. ) Tj ET Q q 0 0 0 rg BT 404.96 684.45 Td (A) Tj ET Q q 0 0 0 rg BT 412.63 684.45 Td ( transmission customer ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (intervened and protested certain aspects of ) Tj ET Q q 0 0 0 rg BT 247.48 670.65 Td (APS) Tj ET Q q 0 0 0 rg BT 271.77 670.65 Td (s filing. FERC initiated a proceeding under Section 206 of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (Federal Power ) Tj ET Q q 0 0 0 rg BT 118.49 656.85 Td (Act to evaluate the justness and reasonableness of the revised formula rate filing ) Tj ET Q q 0 0 0 rg BT 490.53 656.85 Td (APS proposed. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (APS entered into a settlement agreement with the intervening transmission customer) Tj ET Q q 0 0 0 rg BT 438.04 643.05 Td (, which was filed with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (FERC for approval on September 26, 2017. FERC approved the settlement agreement without modification or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (condition on December 21, 2017.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 587.85 Td (On March 7, 2018, ) Tj ET Q q 0 0 0 rg BT 174.94 587.85 Td (APS made a filing to make modifications to its annual transmission formula to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (provide transmission customers the benefit of the reduced federal corporate income tax rate resulting from the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.72 560.25 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 135.59 560.25 Td (Act of 2017 \(the T) Tj ET Q q 0 0 0 rg BT 225.48 560.25 Td (ax ) Tj ET Q q 0 0 0 rg BT 238.57 560.25 Td (Act\) beginning in its 2018 annual transmission formula rate update ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (filing. ) Tj ET Q q 0 0 0 rg BT 79.96 546.45 Td (These modifications will reduce ) Tj ET Q q 0 0 0 rg BT 230.06 546.45 Td (APS) Tj ET Q q 0 0 0 rg BT 254.35 546.45 Td (s transmission rates compared to the rate that would have gone ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (into ef) Tj ET Q q 0 0 0 rg BT 78.99 532.65 Td (fect absent these changes. ) Tj ET Q q 0 0 0 rg BT 203.32 532.65 Td (This matter is still pending and ) Tj ET Q q 0 0 0 rg BT 348.34 532.65 Td (APS is currently unable to predict the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (outcome of the proceeding.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 491.85 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 88.38 491.85 Td (Lost Fixed Cost Recovery Mechanism) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 267.89 491.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 270.77 491.85 Td ( ) Tj ET Q q 0 0 0 rg BT 276.31 491.85 Td (The LFCR mechanism permits ) Tj ET Q q 0 0 0 rg BT 420.69 491.85 Td (APS to recover on an after) Tj ET Q q 0 0 0 rg BT 542.77 491.85 Td (-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.05 Td (the-fact basis a portion of its fixed costs that would otherwise have been collected by ) Tj ET Q q 0 0 0 rg BT 442.63 478.05 Td (APS in the kWh sales lost ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 464.25 Td (due to ) Tj ET Q q 0 0 0 rg BT 80.17 464.25 Td (APS ener) Tj ET Q q 0 0 0 rg BT 123.72 464.25 Td (gy ef) Tj ET Q q 0 0 0 rg BT 146.82 464.25 Td (ficiency programs and to DG such as rooftop solar arrays. ) Tj ET Q q 0 0 0 rg BT 418.70 464.25 Td (The fixed costs recoverable by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 450.45 Td (the LFCR mechanism were first established in the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 359.95 450.45 Td (Agreement and amount to approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.65 Td (3.1 cents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 90.38 436.65 Td ( per residential kWh lost and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 225.79 436.65 Td (2.3 cents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 266.67 436.65 Td ( per non-residential kWh lost. ) Tj ET Q q 0 0 0 rg BT 409.22 436.65 Td (These amounts were revised in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.85 Td (the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 143.73 422.85 Td (Agreement to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 209.51 422.85 Td (2.5 cents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 250.39 422.85 Td ( for both lost residential and non-residential kWh. ) Tj ET Q q 0 0 0 rg BT 485.24 422.85 Td (The LFCR ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.05 Td (adjustment has a year) Tj ET Q q 0 0 0 rg BT 148.58 409.05 Td (-over) Tj ET Q q 0 0 0 rg BT 172.62 409.05 Td (-year cap of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 230.40 409.05 Td (1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.73 409.05 Td ( of retail revenues. ) Tj ET Q q 0 0 0 rg BT 336.42 409.05 Td (Any amounts left unrecovered in a particular ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 395.25 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 381.55 395.25 Td (. ) Tj ET Q q 0 0 0 rg BT 389.96 395.25 Td (The kWhs lost from ener) Tj ET Q q 0 0 0 rg BT 504.73 395.25 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 381.45 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 381.45 Td (ficiency are based on a third-party evaluation of ) Tj ET Q q 0 0 0 rg BT 281.11 381.45 Td (APS) Tj ET Q q 0 0 0 rg BT 305.40 381.45 Td (s ener) Tj ET Q q 0 0 0 rg BT 332.34 381.45 Td (gy ef) Tj ET Q q 0 0 0 rg BT 355.44 381.45 Td (ficiency programs. DG sales losses are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.65 Td (determined from the metered output from the DG units.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 353.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 340.05 Td (APS filed its 2016 annual LFCR adjustment on January 15, 2016, requesting an LFCR adjustment of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 326.25 Td ($46.4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 111.48 326.25 Td ( \(a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 126.16 326.25 Td ($7.9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 182.39 326.25 Td ( annual increase\). ) Tj ET Q q 0 0 0 rg BT 268.71 326.25 Td (The ) Tj ET Q q 0 0 0 rg BT 288.83 326.25 Td (ACC approved the 2016 annual LFCR ef) Tj ET Q q 0 0 0 rg BT 477.70 326.25 Td (fective beginning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 312.45 Td (in May 2016. ) Tj ET Q q 0 0 0 rg BT 116.27 312.45 Td (APS filed its 2017 LFCR adjustment on January 13, 2017 requesting an LFCR adjustment of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.65 Td ($63.7 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 111.48 298.65 Td ( \(a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 126.16 298.65 Td ($17.3 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 188.14 298.65 Td ( per year increase over 2016 levels\). On ) Tj ET Q q 0 0 0 rg BT 376.54 298.65 Td (April 5, 2017, the ) Tj ET Q q 0 0 0 rg BT 460.23 298.65 Td (ACC approved the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.85 Td (2017 annual LFCR adjustment as filed, ef) Tj ET Q q 0 0 0 rg BT 241.89 284.85 Td (fective with the first billing cycle of ) Tj ET Q q 0 0 0 rg BT 409.55 284.85 Td (April 2017. On February 15, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 271.05 Td (2018, ) Tj ET Q q 0 0 0 rg BT 77.62 271.05 Td (APS filed its LFCR ) Tj ET Q q 0 0 0 rg BT 170.28 271.05 Td (Adjustment, requesting that ef) Tj ET Q q 0 0 0 rg BT 309.32 271.05 Td (fective May 1, 2018, the LFCR be adjusted to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 523.00 271.05 Td ($60.7 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 257.25 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 257.25 Td ( \(a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 97.41 257.25 Td ($3 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 145.01 257.25 Td ( per year decrease from 2017 levels\). Because the LFCR mechanism has a balancing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 243.45 Td (account that trues up any under or over recoveries, a one or two month delay in implementation does not have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.65 Td (an adverse ef) Tj ET Q q 0 0 0 rg BT 109.95 229.65 Td (fect on ) Tj ET Q q 0 0 0 rg BT 143.80 229.65 Td (APS.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.05 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 202.05 Td (T) Tj ET Q q 0 0 0 rg BT 91.47 202.05 Td (ax Expense ) Tj ET Q q 0 0 0 rg BT 148.54 202.05 Td (Adjustor Mechanism \("TEAM"\) and FERC T) Tj ET Q q 0 0 0 rg BT 366.99 202.05 Td (ax Filing) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.76 202.05 Td (. ) Tj ET Q q 0 0 0 rg BT 418.75 202.05 Td (As part of the 2017 Settlement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 188.25 Td (Agreement, the parties agreed to a rate adjustment mechanism to address potential federal income tax reform ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 174.45 Td (and enable the pass-through of certain income tax ef) Tj ET Q q 0 0 0 rg BT 290.06 174.45 Td (fects to customers. On December 22, 2017, the ) Tj ET Q q 0 0 0 rg BT 508.62 174.45 Td (T) Tj ET Q q 0 0 0 rg BT 514.84 174.45 Td (ax ) Tj ET Q q 0 0 0 rg BT 527.94 174.45 Td (Act ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.65 Td (was enacted. ) Tj ET Q q 0 0 0 rg BT 113.79 160.65 Td (This legislation made significant changes to the federal income tax laws including a reduction in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.85 Td (the corporate tax rate from 35% to 21% ef) Tj ET Q q 0 0 0 rg BT 243.44 146.85 Td (fective January 1, 2018.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 119.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 119.25 Td (On January 8, 2018, ) Tj ET Q q 0 0 0 rg BT 180.69 119.25 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 335.92 119.25 Td (ACC requesting that the ) Tj ET Q q 0 0 0 rg BT 450.06 119.25 Td (TEAM be implemented ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 105.45 Td (in two steps. ) Tj ET Q q 0 0 0 rg BT 112.86 105.45 Td (The first addresses the change in the mar) Tj ET Q q 0 0 0 rg BT 300.74 105.45 Td (ginal federal tax rate from 35% to 21% resulting from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.65 Td (the ) Tj ET Q q 0 0 0 rg BT 66.22 91.65 Td (T) Tj ET Q q 0 0 0 rg BT 72.44 91.65 Td (ax ) Tj ET Q q 0 0 0 rg BT 85.53 91.65 Td (Act and, if approved, would reduce rates by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 289.91 91.65 Td ($1) Tj ET Q q 0 0 0 rg BT 300.98 91.65 Td (19.1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 357.21 91.65 Td ( annually through an equal cents per kWh ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.85 Td (credit. ) Tj ET Q q 0 0 0 rg BT 83.67 77.85 Td (APS asked that this decrease become ef) Tj ET Q q 0 0 0 rg BT 266.13 77.85 Td (fective February 1, 2018. On February 22, 2018, the ) Tj ET Q q 0 0 0 rg BT 511.41 77.85 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 64.05 Td (approved the reduction of rates by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 209.81 64.05 Td ($1) Tj ET Q q 0 0 0 rg BT 220.88 64.05 Td (19.1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 277.11 64.05 Td ( for the remainder of 2018 through an equal cents per kWh ) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (26) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (credit applied to all but a small subset of customers who are taking service under specially-approved tarif) Tj ET Q q 0 0 0 rg BT 533.42 712.05 Td (fs. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (The rate reduction was ef) Tj ET Q q 0 0 0 rg BT 166.15 698.25 Td (fective for the first billing cycle in March 2018. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 670.65 Td (The amount of the benefit of the lower federal income tax rate is based on our quarterly pre-tax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (earnings pattern, while the reduction in revenues from lower customer rates through the ) Tj ET Q q 0 0 0 rg BT 455.50 656.85 Td (TEAM is based on a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (per kWh sales credit which follows our seasonal kWh sales pattern and is not impacted by earnings of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (Company) Tj ET Q q 0 0 0 rg BT 93.47 629.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 601.65 Td (The second step will address the amortization of excess deferred taxes previously collected from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (customers. ) Tj ET Q q 0 0 0 rg BT 101.25 587.85 Td (APS is analyzing the final impact of the ) Tj ET Q q 0 0 0 rg BT 287.56 587.85 Td (T) Tj ET Q q 0 0 0 rg BT 293.78 587.85 Td (ax ) Tj ET Q q 0 0 0 rg BT 306.88 587.85 Td (Act provisions related to deferred taxes and intends to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (make a second ) Tj ET Q q 0 0 0 rg BT 119.86 574.05 Td (TEAM filing later in 2018. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 546.45 Td (The ) Tj ET Q q 0 0 0 rg BT 106.05 546.45 Td (TEAM expressly applies to ) Tj ET Q q 0 0 0 rg BT 234.45 546.45 Td (APS's retail rates with the exception noted above. ) Tj ET Q q 0 0 0 rg BT 467.75 546.45 Td (As discussed under ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td ("T) Tj ET Q q 0 0 0 rg BT 60.81 532.65 Td (ransmission Rates, ) Tj ET Q q 0 0 0 rg BT 149.73 532.65 Td (T) Tj ET Q q 0 0 0 rg BT 156.35 532.65 Td (ransmission Cost ) Tj ET Q q 0 0 0 rg BT 237.50 532.65 Td (Adjustor and Other ) Tj ET Q q 0 0 0 rg BT 328.96 532.65 Td (T) Tj ET Q q 0 0 0 rg BT 335.58 532.65 Td (ransmission Matters" above, ) Tj ET Q q 0 0 0 rg BT 468.68 532.65 Td (APS made a filing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (with FERC on March 7, 2018 seeking authorization to provide for the cost reductions resulting from the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (income tax changes in its wholesale transmission rates. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (Net Metering) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 449.85 Td (In 2015, the ) Tj ET Q q 0 0 0 rg BT 143.00 449.85 Td (ACC voted to conduct a generic evidentiary hearing on the value and cost of DG to gather ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (information that will inform the ) Tj ET Q q 0 0 0 rg BT 198.02 436.05 Td (ACC on net metering issues and cost of service studies in upcoming utility rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (cases. ) Tj ET Q q 0 0 0 rg BT 81.76 422.25 Td (A) Tj ET Q q 0 0 0 rg BT 89.43 422.25 Td ( hearing was held in ) Tj ET Q q 0 0 0 rg BT 184.28 422.25 Td (April 2016. On October 7, 2016, the ) Tj ET Q q 0 0 0 rg BT 359.32 422.25 Td (Administrative Law Judge issued a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (recommendation in the docket concerning the value and cost of DG solar installations. On December 20, 2016, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 394.65 Td (ACC completed its open meeting to consider the recommended opinion and order by the ) Tj ET Q q 0 0 0 rg BT 475.87 394.65 Td (Administrative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (Law Judge. ) Tj ET Q q 0 0 0 rg BT 107.63 380.85 Td (After making several amendments, the ) Tj ET Q q 0 0 0 rg BT 287.74 380.85 Td (ACC approved the recommended decision by a 4-1 vote. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (As a result of the ) Tj ET Q q 0 0 0 rg BT 130.31 367.05 Td (ACC) Tj ET Q q 0 0 0 rg BT 157.15 367.05 Td (s action, ef) Tj ET Q q 0 0 0 rg BT 207.07 367.05 Td (fective as of ) Tj ET Q q 0 0 0 rg BT 265.51 367.05 Td (APS) Tj ET Q q 0 0 0 rg BT 289.80 367.05 Td (s 2017 Rate Case Decision, the current net metering tarif) Tj ET Q q 0 0 0 rg BT 550.82 367.05 Td (f ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (that governs payments for ener) Tj ET Q q 0 0 0 rg BT 191.72 353.25 Td (gy exported to the grid from rooftop solar systems was replaced by a more ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (formula-driven approach that utilizes inputs from historical wholesale solar power costs and eventually an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (avoided cost methodology) Tj ET Q q 0 0 0 rg BT 170.12 325.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 298.05 Td (As amended, the decision provides that payments by utilities for ener) Tj ET Q q 0 0 0 rg BT 403.71 298.05 Td (gy exported to the grid from DG ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (solar facilities will be determined using a RCP) Tj ET Q q 0 0 0 rg BT 263.39 284.25 Td ( methodology) Tj ET Q q 0 0 0 rg BT 326.20 284.25 Td (, a method that is based on the price that ) Tj ET Q q 0 0 0 rg BT 513.67 284.25 Td (APS pays ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (for utility-scale solar projects on a five year rolling average, while a forecasted avoided cost methodology is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (being developed. ) Tj ET Q q 0 0 0 rg BT 133.60 256.65 Td (The price established by this RCP) Tj ET Q q 0 0 0 rg BT 289.37 256.65 Td ( method will be updated annually \(between general retail ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (rate cases\) but will not be decreased by more than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 281.97 242.85 Td (10%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.05 242.85 Td ( per year) Tj ET Q q 0 0 0 rg BT 342.64 242.85 Td (. Once the avoided cost methodology is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (developed, the ) Tj ET Q q 0 0 0 rg BT 118.80 229.05 Td (ACC will determine in ) Tj ET Q q 0 0 0 rg BT 226.13 229.05 Td (APS's subsequent rate cases which method \(or a combination of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (methods\) is appropriate to determine the actual price to be paid by ) Tj ET Q q 0 0 0 rg BT 356.71 215.25 Td (APS for exported distributed ener) Tj ET Q q 0 0 0 rg BT 511.72 215.25 Td (gy) Tj ET Q q 0 0 0 rg BT 522.48 215.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 187.65 Td (In addition, the ) Tj ET Q q 0 0 0 rg BT 157.69 187.65 Td (ACC made the following determinations:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 160.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 160.05 Td (Customers who have interconnected a DG system or submitted an application for interconnection ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 146.25 Td (for DG systems prior to ) Tj ET Q q 0 0 0 rg BT 214.98 146.25 Td (August 19, 2017, the date new rates were ef) Tj ET Q q 0 0 0 rg BT 416.60 146.25 Td (fective based on ) Tj ET Q q 0 0 0 rg BT 493.56 146.25 Td (APS's 2017 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 132.45 Td (Rate Case Decision, will be grandfathered for a period of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.51 132.45 Td (20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 381.01 132.45 Td ( years from the date the customer) Tj ET Q q 0 0 0 rg BT 534.71 132.45 Td () Tj ET Q q 0 0 0 rg BT 537.90 132.45 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 118.65 Td (interconnection application was accepted by the utility;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 104.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 104.85 Td (Customers with DG solar systems are to be considered a separate class of customers for ratemaking ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 91.05 Td (purposes; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 77.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 77.25 Td (Once an export price is set for ) Tj ET Q q 0 0 0 rg BT 244.33 77.25 Td (APS, no netting or banking of retail credits will be available for new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 63.45 Td (DG customers, and the then-applicable export price will be guaranteed for new customers for a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 49.65 Td (period of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 148.21 49.65 Td (10) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 159.71 49.65 Td ( years. ) Tj ET Q endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (27) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 698.25 Td (This decision of the ) Tj ET Q q 0 0 0 rg BT 178.77 698.25 Td (ACC addresses policy determinations only) Tj ET Q q 0 0 0 rg BT 374.77 698.25 Td (. ) Tj ET Q q 0 0 0 rg BT 383.19 698.25 Td (The decision states that its principles ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (will be applied in future general retail rate cases, and the policy determinations themselves may be subject to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (future change, as are all ) Tj ET Q q 0 0 0 rg BT 161.25 670.65 Td (ACC policies. ) Tj ET Q q 0 0 0 rg BT 231.53 670.65 Td (A) Tj ET Q q 0 0 0 rg BT 239.20 670.65 Td ( first-year export ener) Tj ET Q q 0 0 0 rg BT 338.93 670.65 Td (gy price of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.62 670.65 Td (12.9 cents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 438.25 670.65 Td ( per kWh is included in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 143.73 656.85 Td (Agreement and became ef) Tj ET Q q 0 0 0 rg BT 263.88 656.85 Td (fective on ) Tj ET Q q 0 0 0 rg BT 311.78 656.85 Td (August 19, 2017. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 629.25 Td (On January 23, 2017, ) Tj ET Q q 0 0 0 rg BT 186.86 629.25 Td (The ) Tj ET Q q 0 0 0 rg BT 206.98 629.25 Td (Alliance for Solar Choice\("T) Tj ET Q q 0 0 0 rg BT 342.32 629.25 Td (ASC"\) sought rehearing of the ) Tj ET Q q 0 0 0 rg BT 484.68 629.25 Td (ACC's decision ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (regarding the value and cost of DG. ) Tj ET Q q 0 0 0 rg BT 216.63 615.45 Td (T) Tj ET Q q 0 0 0 rg BT 222.73 615.45 Td (ASC asserted that the ) Tj ET Q q 0 0 0 rg BT 324.31 615.45 Td (ACC improperly ignored the ) Tj ET Q q 0 0 0 rg BT 459.10 615.45 Td (Administrative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (Procedure ) Tj ET Q q 0 0 0 rg BT 98.36 601.65 Td (Act, failed to give adequate notice regarding the scope of the proceedings, and relied on information ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (that was not submitted as evidence, among other alleged defects. ) Tj ET Q q 0 0 0 rg BT 350.12 587.85 Td (T) Tj ET Q q 0 0 0 rg BT 356.22 587.85 Td (ASC filed a Notice of ) Tj ET Q q 0 0 0 rg BT 458.75 587.85 Td (Appeal in the Court of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (Appeals and filed a Complaint and Statutory ) Tj ET Q q 0 0 0 rg BT 256.79 574.05 Td (Appeal in the Maricopa County Superior Court on March 10, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (2017. ) Tj ET Q q 0 0 0 rg BT 80.49 560.25 Td (As part of the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 223.58 560.25 Td (Agreement described above, ) Tj ET Q q 0 0 0 rg BT 357.49 560.25 Td (T) Tj ET Q q 0 0 0 rg BT 363.59 560.25 Td (ASC agreed to withdraw these appeals ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (when the ) Tj ET Q q 0 0 0 rg BT 93.58 546.45 Td (ACC decision implementing the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 322.28 546.45 Td (Agreement is no longer subject to appellate review) Tj ET Q q 0 0 0 rg BT 555.61 546.45 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (Subpoena fr) Tj ET Q q 0 0 0 rg BT 109.69 518.85 Td (om ) Tj ET Q q 0 0 0 rg BT 127.26 518.85 Td (Arizona Corporation Commissioner) Tj ET Q q 0 0 0 rg BT 304.65 518.85 Td ( Robert Burns) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 491.25 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 491.25 Td (August 25, 2016, Commissioner Burns, individually and not by action of the ) Tj ET Q q 0 0 0 rg BT 456.69 491.25 Td (ACC as a whole, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (served subpoenas in ) Tj ET Q q 0 0 0 rg BT 144.36 477.45 Td (APS) Tj ET Q q 0 0 0 rg BT 168.65 477.45 Td (s then current retail rate proceeding on ) Tj ET Q q 0 0 0 rg BT 348.43 477.45 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 434.15 477.45 Td (W) Tj ET Q q 0 0 0 rg BT 444.08 477.45 Td (est for the production of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (records and information relating to a range of expenditures from 201) Tj ET Q q 0 0 0 rg BT 365.22 463.65 Td (1 through 2016. ) Tj ET Q q 0 0 0 rg BT 441.04 463.65 Td (The subpoenas requested ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (information concerning marketing and advertising expenditures, charitable donations, lobbying expenses, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (contributions to 501\(c\)\(3\) and \(c\)\(4\) nonprofits and political contributions. ) Tj ET Q q 0 0 0 rg BT 399.01 436.05 Td (The return date for the production ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (of information was set as September 15, 2016. ) Tj ET Q q 0 0 0 rg BT 265.84 422.25 Td (The subpoenas also sought testimony from Company personnel ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (having knowledge of the material, including the Chief Executive Of) Tj ET Q q 0 0 0 rg BT 362.26 408.45 Td (ficer) Tj ET Q q 0 0 0 rg BT 382.69 408.45 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 380.85 Td (On September 9, 2016, ) Tj ET Q q 0 0 0 rg BT 194.10 380.85 Td (APS filed with the ) Tj ET Q q 0 0 0 rg BT 281.63 380.85 Td (ACC a motion to quash the subpoenas or) Tj ET Q q 0 0 0 rg BT 469.95 380.85 Td (, alternatively) Tj ET Q q 0 0 0 rg BT 532.43 380.85 Td (, to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (stay ) Tj ET Q q 0 0 0 rg BT 70.27 367.05 Td (APS's obligations to comply with the subpoenas and decline to decide ) Tj ET Q q 0 0 0 rg BT 394.62 367.05 Td (APS's motion pending court ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (proceedings. Contemporaneously with the filing of this motion, ) Tj ET Q q 0 0 0 rg BT 344.00 353.25 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 429.72 353.25 Td (W) Tj ET Q q 0 0 0 rg BT 439.65 353.25 Td (est filed a complaint for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (special action and declaratory judgment in the Superior Court of ) Tj ET Q q 0 0 0 rg BT 347.78 339.45 Td (Arizona for Maricopa County) Tj ET Q q 0 0 0 rg BT 484.04 339.45 Td (, seeking a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (declaratory judgment that Commissioner Burns) Tj ET Q q 0 0 0 rg BT 270.94 325.65 Td ( subpoenas are contrary to law) Tj ET Q q 0 0 0 rg BT 410.38 325.65 Td (. On September 15, 2016, ) Tj ET Q q 0 0 0 rg BT 533.36 325.65 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (produced all non-confidential and responsive documents and of) Tj ET Q q 0 0 0 rg BT 341.50 311.85 Td (fered to produce any remaining responsive ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (documents that are confidential after an appropriate confidentiality agreement is signed. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 270.45 Td (On February 7, 2017, Commissioner Burns opened a new ) Tj ET Q q 0 0 0 rg BT 352.85 270.45 Td (ACC docket and indicated that its purpose is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (to study and rectify problems with transparency and disclosure regarding financial contributions from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (regulated monopolies or other stakeholders who may appear before the ) Tj ET Q q 0 0 0 rg BT 378.43 242.85 Td (ACC that may directly or indirectly ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (benefit an ) Tj ET Q q 0 0 0 rg BT 97.40 229.05 Td (ACC Commissioner) Tj ET Q q 0 0 0 rg BT 190.55 229.05 Td (, a candidate for ) Tj ET Q q 0 0 0 rg BT 266.86 229.05 Td (ACC Commissioner) Tj ET Q q 0 0 0 rg BT 360.01 229.05 Td (, or key ) Tj ET Q q 0 0 0 rg BT 397.06 229.05 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 441.90 229.05 Td (f. ) Tj ET Q q 0 0 0 rg BT 453.72 229.05 Td (As part of this docket, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (Commissioner Burns set March 24, 2017 as a deadline for the production of all information previously ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (requested through the subpoenas. Neither ) Tj ET Q q 0 0 0 rg BT 242.40 201.45 Td (APS nor Pinnacle ) Tj ET Q q 0 0 0 rg BT 326.84 201.45 Td (W) Tj ET Q q 0 0 0 rg BT 336.78 201.45 Td (est produced the information requested and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (instead objected to the subpoena. On March 10, 2017, Commissioner Burns filed suit against ) Tj ET Q q 0 0 0 rg BT 481.97 187.65 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 173.85 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 173.85 Td (est in the Superior Court of ) Tj ET Q q 0 0 0 rg BT 229.47 173.85 Td (Arizona for Maricopa County in an ef) Tj ET Q q 0 0 0 rg BT 403.62 173.85 Td (fort to enforce his subpoenas. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (March 30, 2017, ) Tj ET Q q 0 0 0 rg BT 127.75 160.05 Td (APS filed a motion to dismiss Commissioner Burns' suit against ) Tj ET Q q 0 0 0 rg BT 425.02 160.05 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 510.74 160.05 Td (W) Tj ET Q q 0 0 0 rg BT 520.67 160.05 Td (est. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (response to the motion to dismiss, the court stayed the suit and ordered Commissioner Burns to file a motion to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (compel the production of the information sought by the subpoenas with the ) Tj ET Q q 0 0 0 rg BT 397.64 132.45 Td (ACC. On June 20, 2017, the ) Tj ET Q q 0 0 0 rg BT 533.09 132.45 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (denied the motion to compel. On ) Tj ET Q q 0 0 0 rg BT 208.88 118.65 Td (August 4, 2017, Commissioner Burns amended his complaint to add all of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 104.85 Td (ACC Commissioners and the ) Tj ET Q q 0 0 0 rg BT 202.52 104.85 Td (ACC itself as defendants. ) Tj ET Q q 0 0 0 rg BT 325.17 104.85 Td (All defendants moved to dismiss the complaint. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (On February 15, 2018, the Superior Court dismissed Commissioner Burns) Tj ET Q q 0 0 0 rg BT 393.95 91.05 Td ( complaint. On March 6, 2018, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (Burns filed an objection to the proposed final order from the Superior Court and a motion to amend his ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (complaint. ) Tj ET Q q 0 0 0 rg BT 103.91 63.45 Td (This motion has been fully briefed and the parties are awaiting a decision from the Superior Court ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.65 Td (judge. ) Tj ET Q q 0 0 0 rg BT 83.47 49.65 Td (The matter is subject to appeal. ) Tj ET Q q 0 0 0 rg BT 229.41 49.65 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 315.13 49.65 Td (W) Tj ET Q q 0 0 0 rg BT 325.06 49.65 Td (est cannot predict the outcome of this matter) Tj ET Q q 0 0 0 rg BT 529.13 49.65 Td (. ) Tj ET Q endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (28) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 698.25 Td (In addition to the Superior Court proceedings discussed above, on ) Tj ET Q q 0 0 0 rg BT 391.16 698.25 Td (August 20, 2017, Commissioner ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (Burns filed a special action petition in the ) Tj ET Q q 0 0 0 rg BT 243.68 684.45 Td (Arizona Supreme Court seeking to vacate the 2017 Rate Case ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (Decision so that alleged issues of disqualification and bias on the part of the other Commissioners could be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (fully investigated. ) Tj ET Q q 0 0 0 rg BT 137.66 656.85 Td (APS opposed the petition, and on October 17, 2017, the ) Tj ET Q q 0 0 0 rg BT 396.70 656.85 Td (Arizona Supreme Court declined to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (accept jurisdiction over Commissioner Burns) Tj ET Q q 0 0 0 rg BT 260.72 643.05 Td ( special action petition.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (Renewable Energy Ballot Initiative) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 587.85 Td (On February 20, 2018, a coalition of renewable ener) Tj ET Q q 0 0 0 rg BT 326.07 587.85 Td (gy advocates filed with the ) Tj ET Q q 0 0 0 rg BT 452.22 587.85 Td (Arizona Secretary of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (State a ballot initiative for an ) Tj ET Q q 0 0 0 rg BT 185.55 574.05 Td (Arizona constitutional amendment requiring ) Tj ET Q q 0 0 0 rg BT 391.87 574.05 Td (Arizona public service corporations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (to procure ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.31 560.25 Td (50%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 120.39 560.25 Td ( of their ener) Tj ET Q q 0 0 0 rg BT 179.25 560.25 Td (gy supply from renewable sources by 2030. For purposes of the proposed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (amendment, eligible renewable sources would not include nuclear generating facilities. ) Tj ET Q q 0 0 0 rg BT 455.81 546.45 Td (The stated goal of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (Clean Ener) Tj ET Q q 0 0 0 rg BT 100.70 532.65 Td (gy for a Healthy ) Tj ET Q q 0 0 0 rg BT 177.99 532.65 Td (Arizona coalition is to complete the necessary steps to allow the initiative to be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (placed on the November 2018 ) Tj ET Q q 0 0 0 rg BT 190.34 518.85 Td (Arizona elections ballot. ) Tj ET Q q 0 0 0 rg BT 305.74 518.85 Td (The coalition must present over 225,000 verifiable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (signatures to the Secretary of State by July 5, 2018 to meet that goal. ) Tj ET Q q 0 0 0 rg BT 368.25 505.05 Td (APS opposes this ef) Tj ET Q q 0 0 0 rg BT 460.37 505.05 Td (fort. ) Tj ET Q q 0 0 0 rg BT 484.96 505.05 Td (APS believes ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (the initiative is irresponsible and would result in negative impacts to ) Tj ET Q q 0 0 0 rg BT 366.02 491.25 Td (Arizona utility customers, the ) Tj ET Q q 0 0 0 rg BT 504.95 491.25 Td (Arizona ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 476.85 Td (economy and our company) Tj ET Q q 0 0 0 rg BT 173.62 476.85 Td (. In ) Tj ET Q q 0 0 0 rg BT 194.07 476.85 Td (April 2018, ) Tj ET Q q 0 0 0 rg BT 249.33 476.85 Td (Arizona passed) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 319.91 476.85 Td ( a law limiting penalties associated with violating ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 49.50 462.45 Td (this proposed constitutional amendment to no more than ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 322.79 462.45 Td ($5,000) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 355.79 462.45 Td ( per violation. ) Tj ET Q q 0 0 0 rg BT 428.11 462.45 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 450.12 462.45 Td ( cannot predict the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 448.65 Td (outcome of this matter) Tj ET Q q 0 0 0 rg BT 152.66 448.65 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 421.05 Td (Energy Modernization Plan ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 394.05 Td (On January 30, 2018, ) Tj ET Q q 0 0 0 rg BT 186.44 394.05 Td (ACC Commissioner ) Tj ET Q q 0 0 0 rg BT 282.71 394.05 Td (T) Tj ET Q q 0 0 0 rg BT 288.93 394.05 Td (obin proposed the Ener) Tj ET Q q 0 0 0 rg BT 395.71 394.05 Td (gy Modernization Plan, which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.25 Td (consists of a series of ener) Tj ET Q q 0 0 0 rg BT 170.33 380.25 Td (gy policies tied to clean ener) Tj ET Q q 0 0 0 rg BT 302.00 380.25 Td (gy sources such as ener) Tj ET Q q 0 0 0 rg BT 409.73 380.25 Td (gy storage, biomass, ener) Tj ET Q q 0 0 0 rg BT 526.10 380.25 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 366.45 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 366.45 Td (ficiency) Tj ET Q q 0 0 0 rg BT 94.51 366.45 Td (, electric vehicles, and expanded ener) Tj ET Q q 0 0 0 rg BT 266.40 366.45 Td (gy planning through the integrated resource plans \("IRP"\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 352.65 Td (process. ) Tj ET Q q 0 0 0 rg BT 89.53 352.65 Td (The Ener) Tj ET Q q 0 0 0 rg BT 131.79 352.65 Td (gy Modernization Plan includes replacing the current RES standard with the Ener) Tj ET Q q 0 0 0 rg BT 506.83 352.65 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 338.85 Td (Modernization Plan. ) Tj ET Q q 0 0 0 rg BT 146.07 338.85 Td (The ) Tj ET Q q 0 0 0 rg BT 166.19 338.85 Td (ACC has not yet initiated any formal proceedings with respect to Commissioner ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.05 Td (T) Tj ET Q q 0 0 0 rg BT 55.72 325.05 Td (obin) Tj ET Q q 0 0 0 rg BT 79.36 325.05 Td (s proposal; however) Tj ET Q q 0 0 0 rg BT 171.52 325.05 Td (, on February 22, 2018, the ) Tj ET Q q 0 0 0 rg BT 298.33 325.05 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 343.17 325.05 Td (f filed a Notice of Inquiry to further examine ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.25 Td (the matter) Tj ET Q q 0 0 0 rg BT 95.17 311.25 Td (. ) Tj ET Q q 0 0 0 rg BT 100.28 311.25 Td (As a part of this proposal, the ) Tj ET Q q 0 0 0 rg BT 238.26 311.25 Td (ACC voted in March 2018 to direct utilities to develop a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 297.45 Td (comprehensive biomass generation plan to be included in each utility) Tj ET Q q 0 0 0 rg BT 371.10 297.45 Td (s RES Implementation Plan. ) Tj ET Q q 0 0 0 rg BT 506.54 297.45 Td (APS cannot ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 283.65 Td (predict the outcome of this matter) Tj ET Q q 0 0 0 rg BT 204.39 283.65 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 256.05 Td (Integrated Resour) Tj ET Q q 0 0 0 rg BT 139.04 256.05 Td (ce Planning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 228.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 228.45 Td (ACC rules require utilities to develop fifteen-year IRPs which describe how the utility plans to serve ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 214.65 Td (customer load in the plan timeframe. IRPs are filed with the ) Tj ET Q q 0 0 0 rg BT 330.22 214.65 Td (ACC every even year) Tj ET Q q 0 0 0 rg BT 429.07 214.65 Td (, and are reviewed by ) Tj ET Q q 0 0 0 rg BT 529.97 214.65 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 200.85 Td (Staf) Tj ET Q q 0 0 0 rg BT 67.82 200.85 Td (f to assess the adequacy of the plans. ) Tj ET Q q 0 0 0 rg BT 242.62 200.85 Td (The ) Tj ET Q q 0 0 0 rg BT 262.74 200.85 Td (ACC then determines if the IRP) Tj ET Q q 0 0 0 rg BT 409.56 200.85 Td ( meets the requirements of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.05 Td (rule and, if so, acknowledges the IRP) Tj ET Q q 0 0 0 rg BT 220.05 187.05 Td (. In March of 2018, the ) Tj ET Q q 0 0 0 rg BT 331.51 187.05 Td (ACC reviewed the 2017 IRPs of its jurisdictional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.25 Td (utilities and voted to not acknowledge any plan. ) Tj ET Q q 0 0 0 rg BT 274.99 173.25 Td (APS does not believe that this lack of acknowledgment will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 159.45 Td (have a material impact on our financial position, results of operations or cash flows. ) Tj ET Q q 0 0 0 rg BT 440.72 159.45 Td (APS's next IRP) Tj ET Q q 0 0 0 rg BT 511.39 159.45 Td ( will be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 145.65 Td (filed in 2020.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 118.05 Td (Four) Tj ET Q q 0 0 0 rg BT 73.57 118.05 Td ( Corners) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 116.68 118.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 90.45 Td ( ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 85.50 90.45 Td (SCE-Related Matters. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.01 90.45 Td (On December30, 2013, ) Tj ET Q q 0 0 0 rg BT 302.42 90.45 Td (APS purchased Southern California Edison Company's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 76.65 Td (\("SCE) Tj ET Q q 0 0 0 rg BT 82.31 76.65 Td (s"\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 98.19 76.65 Td (48%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 119.26 76.65 Td ( ownership interest in each of Units 4 and 5 of Four Corners. ) Tj ET Q q 0 0 0 rg BT 404.27 76.65 Td (The 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 502.33 76.65 Td (Agreement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 62.85 Td (includes a procedure to allow ) Tj ET Q q 0 0 0 rg BT 187.14 62.85 Td (APS to request rate adjustments prior to its next general retail rate case related to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.05 Td (APS) Tj ET Q q 0 0 0 rg BT 73.79 49.05 Td (s acquisition of the additional interests in Units 4 and 5 and the related closure of Units 1-3 of Four ) Tj ET Q endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (29) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (Corners. ) Tj ET Q q 0 0 0 rg BT 93.90 712.05 Td (APS made its filing under this provision on December30, 2013. On December 23, 2014, the ) Tj ET Q q 0 0 0 rg BT 524.77 712.05 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (approved rate adjustments resulting in a revenue increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 328.28 698.25 Td ($57.1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 390.25 698.25 Td ( on an annual basis. ) Tj ET Q q 0 0 0 rg BT 486.18 698.25 Td (This included ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (the deferral for future recovery of all non-fuel operating costs for the acquired SCE interest in Four Corners, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (net of the non-fuel operating costs savings resulting from the closure of Units 1-3 from the date of closing of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (the purchase through its inclusion in rates. ) Tj ET Q q 0 0 0 rg BT 249.55 656.85 Td (The 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 347.60 656.85 Td (Agreement also provided for deferral for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (future recovery of all unrecovered costs incurred in connection with the closure of Units 1-3. ) Tj ET Q q 0 0 0 rg BT 482.00 643.05 Td (The deferral ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (balance related to the acquisition of SCE) Tj ET Q q 0 0 0 rg BT 240.47 629.25 Td (s interest in Units 4 and 5 and the closure of Units 1-3 was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 629.25 Td ($54 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 615.45 Td ( as of March 31, 2018 and is being amortized in rates over a total of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.17 615.45 Td (10 years) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 438.81 615.45 Td (. ) Tj ET Q q 0 0 0 rg BT 444.35 615.45 Td (The ) Tj ET Q q 0 0 0 rg BT 464.47 615.45 Td (ACC's rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (adjustment decision was appealed and on September 26, 2017, the Court of ) Tj ET Q q 0 0 0 rg BT 398.26 601.65 Td (Appeals af) Tj ET Q q 0 0 0 rg BT 447.55 601.65 Td (firmed the ) Tj ET Q q 0 0 0 rg BT 497.37 601.65 Td (ACC's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (decision on the Four Corners rate adjustment.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 560.25 Td () Tj ET Q q 0 0 0 rg BT 87.74 560.25 Td (As part of ) Tj ET Q q 0 0 0 rg BT 135.97 560.25 Td (APS) Tj ET Q q 0 0 0 rg BT 160.26 560.25 Td (s acquisition of SCE) Tj ET Q q 0 0 0 rg BT 257.70 560.25 Td (s interest in Units 4 and 5, ) Tj ET Q q 0 0 0 rg BT 380.36 560.25 Td (APS and SCE agreed, via a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td ("T) Tj ET Q q 0 0 0 rg BT 60.81 546.45 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 118.43 546.45 Td (T) Tj ET Q q 0 0 0 rg BT 124.65 546.45 Td (ermination ) Tj ET Q q 0 0 0 rg BT 176.71 546.45 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 49.50 532.65 Td (an existing transmission agreement \("T) Tj ET Q q 0 0 0 rg BT 229.45 532.65 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 286.63 532.65 Td (Agreement"\) between the parties that provides transmission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (capacity on a system \(the "Arizona ) Tj ET Q q 0 0 0 rg BT 213.01 518.85 Td (T) Tj ET Q q 0 0 0 rg BT 219.64 518.85 Td (ransmission System"\) 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 49.50 505.05 Td (Four Corners to California. ) Tj ET Q q 0 0 0 rg BT 179.82 505.05 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 49.50 491.25 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 282.94 491.25 Td ($40 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 336.29 491.25 Td ( that ) Tj ET Q q 0 0 0 rg BT 358.65 491.25 Td (APS agreed to pay SCE associated with the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (termination. On December 22, 2015, ) Tj ET Q q 0 0 0 rg BT 223.56 477.45 Td (APS and SCE agreed to terminate the ) Tj ET Q q 0 0 0 rg BT 399.33 477.45 Td (T) Tj ET Q q 0 0 0 rg BT 405.95 477.45 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 463.57 477.45 Td (T) Tj ET Q q 0 0 0 rg BT 469.79 477.45 Td (ermination ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (Agreement and allow for the ) Tj ET Q q 0 0 0 rg BT 184.37 463.65 Td (T) Tj ET Q q 0 0 0 rg BT 190.99 463.65 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 248.18 463.65 Td (Agreement to expire according to its terms, which includes settling ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (obligations in accordance with the terms of the ) Tj ET Q q 0 0 0 rg BT 267.73 449.85 Td (T) Tj ET Q q 0 0 0 rg BT 274.35 449.85 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 331.54 449.85 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 390.62 449.85 Td (APS established a regulatory asset of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td ($12 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 102.85 436.05 Td ( in 2015 in connection with the payment required under the terms of the ) Tj ET Q q 0 0 0 rg BT 436.06 436.05 Td (T) Tj ET Q q 0 0 0 rg BT 442.68 436.05 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 499.87 436.05 Td (Agreement. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (On July 1, 2016, FERC issued an order denying ) Tj ET Q q 0 0 0 rg BT 272.15 422.25 Td (APS) Tj ET Q q 0 0 0 rg BT 296.44 422.25 Td (s request to recover the regulatory asset through its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (FERC-jurisdictional rates. ) Tj ET Q q 0 0 0 rg BT 175.35 408.45 Td (APS and SCE completed the termination of the ) Tj ET Q q 0 0 0 rg BT 395.53 408.45 Td (T) Tj ET Q q 0 0 0 rg BT 402.15 408.45 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 459.34 408.45 Td (Agreement on July 6, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (2016. ) Tj ET Q q 0 0 0 rg BT 80.49 394.65 Td (APS made the required payment to SCE and wrote-of) Tj ET Q q 0 0 0 rg BT 327.48 394.65 Td (f the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 351.11 394.65 Td ($12 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.46 394.65 Td ( regulatory asset and char) Tj ET Q q 0 0 0 rg BT 521.76 394.65 Td (ged ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (operating revenues to reflect the ef) Tj ET Q q 0 0 0 rg BT 209.26 380.85 Td (fects of this order in the second quarter of 2016. On July 29, 2016, ) Tj ET Q q 0 0 0 rg BT 520.34 380.85 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (filed a request for rehearing with FERC. In its order denying recovery) Tj ET Q q 0 0 0 rg BT 373.53 367.05 Td (, FERC also referred to its enforcement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (division a question of whether the agreement between ) Tj ET Q q 0 0 0 rg BT 299.87 353.25 Td (APS and SCE relating to the settlement of obligations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (under the ) Tj ET Q q 0 0 0 rg BT 95.28 339.45 Td (T) Tj ET Q q 0 0 0 rg BT 101.90 339.45 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 159.08 339.45 Td (Agreement was a jurisdictional contract that should have been filed with FERC. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (October 5, 2017, FERC issued an order denying ) Tj ET Q q 0 0 0 rg BT 273.09 325.65 Td (APS's request for rehearing. FERC also upheld its prior ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (determination that the agreement relating to the settlement was a jurisdictional contract and should have been ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (filed with FERC. ) Tj ET Q q 0 0 0 rg BT 133.52 298.05 Td (APS cannot predict whether or if the enforcement division will take any action. ) Tj ET Q q 0 0 0 rg BT 503.67 298.05 Td (APS filed an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (appeal of FERC's July 1, 2016 and October 5, 2017 orders with the United States Court of ) Tj ET Q q 0 0 0 rg BT 466.48 284.25 Td (Appeals for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (Ninth Circuit on December 4, 2017. ) Tj ET Q q 0 0 0 rg BT 220.80 270.45 Td (That proceeding is pending, and ) Tj ET Q q 0 0 0 rg BT 370.91 270.45 Td (APS cannot predict the outcome of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (proceeding. ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 229.05 Td (SCR Cost Recovery) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.50 229.05 Td (. On December 29, 2017, in accordance with the 2017 Rate Case Decision, ) Tj ET Q q 0 0 0 rg BT 526.87 229.05 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (filed a Notice of Intent to file its SCR Rate Rider to permit recovery of costs associated with the installation of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (SCR equipment at Four Corners Units 4 and 5. ) Tj ET Q q 0 0 0 rg BT 270.23 201.45 Td (APS filed the SCR Rate Rider in ) Tj ET Q q 0 0 0 rg BT 423.25 201.45 Td (April 2018. Consistent with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (the 2017 Rate Case Decision, the rate rider filing will be narrow in scope and will address only costs associated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (with this specific environmental compliance equipment. ) Tj ET Q q 0 0 0 rg BT 312.66 173.85 Td (Also, as provided for in the 2017 Rate Case Decision, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (APS will request that the rate rider become ef) Tj ET Q q 0 0 0 rg BT 259.42 160.05 Td (fective no later than January 1, 2019.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 146.25 Td ( ) Tj ET Q endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (30) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (Cholla) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.65 Td (On September 1) Tj ET Q q 0 0 0 rg BT 159.81 684.65 Td (1, 2014, ) Tj ET Q q 0 0 0 rg BT 199.42 684.65 Td (APS announced that it would close Unit 2 of the Cholla Power Plant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (\("Cholla"\) and cease burning coal at the other ) Tj ET Q q 0 0 0 rg BT 261.99 670.85 Td (APS-owned units \(Units 1 and 3\) at the plant by the mid-2020s, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 657.05 Td (if the United States Environmental Protection ) Tj ET Q q 0 0 0 rg BT 264.45 657.05 Td (Agency \("EP) Tj ET Q q 0 0 0 rg BT 323.98 657.05 Td (A"\) approves a compromise proposal of) Tj ET Q q 0 0 0 rg BT 507.63 657.05 Td (fered by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.25 Td (APS to meet required environmental and emissions standards and rules. On ) Tj ET Q q 0 0 0 rg BT 401.79 643.25 Td (April 14, 2015, the ) Tj ET Q q 0 0 0 rg BT 491.23 643.25 Td (ACC approved ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.45 Td (APS's plan to retire Unit 2, without expressing any view on the future recoverability of ) Tj ET Q q 0 0 0 rg BT 451.44 629.45 Td (APS's remaining ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.65 Td (investment in the Unit. ) Tj ET Q q 0 0 0 rg BT 160.02 615.65 Td (APS closed Unit 2 on October 1, 2015. In early 2017, EP) Tj ET Q q 0 0 0 rg BT 425.04 615.65 Td (A) Tj ET Q q 0 0 0 rg BT 432.71 615.65 Td ( approved a final rule ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.85 Td (incorporating ) Tj ET Q q 0 0 0 rg BT 113.69 601.85 Td (APS's compromise proposal, which took ef) Tj ET Q q 0 0 0 rg BT 312.32 601.85 Td (fect on ) Tj ET Q q 0 0 0 rg BT 346.17 601.85 Td (April 26, 2017. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 576.05 Td (Previously) Tj ET Q q 0 0 0 rg BT 133.95 576.05 Td (, ) Tj ET Q q 0 0 0 rg BT 139.07 576.05 Td (APS estimated Cholla Unit 2) Tj ET Q q 0 0 0 rg BT 275.79 576.05 Td (s end of life to be 2033. ) Tj ET Q q 0 0 0 rg BT 389.81 576.05 Td (APS has been recovering a return on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 562.25 Td (and of the net book value of the unit in base rates. Pursuant to the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 433.72 562.25 Td (Agreement described ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 548.45 Td (above, ) Tj ET Q q 0 0 0 rg BT 82.07 548.45 Td (APS will be allowed continued recovery of the net book value of the unit and the unit) Tj ET Q q 0 0 0 rg BT 478.74 548.45 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.65 Td (decommissioning and other retirement-related costs \() Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.44 534.65 Td ($101 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.54 534.65 Td ( as of March 31, 2018\), in addition to a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.85 Td (return on its investment. In accordance with GAAP) Tj ET Q q 0 0 0 rg BT 287.43 520.85 Td (, in the third quarter of 2014, Unit 2) Tj ET Q q 0 0 0 rg BT 455.43 520.85 Td (s remaining net book ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 507.05 Td (value was reclassified from property) Tj ET Q q 0 0 0 rg BT 216.72 507.05 Td (, plant and equipment to a regulatory asset. ) Tj ET Q q 0 0 0 rg BT 419.95 507.05 Td (The 2017 Settlement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 493.25 Td (Agreement also shortened the depreciation lives of Cholla Units 1 and 3 to 2026. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 468.05 Td (Navajo Plant) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 442.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 442.25 Td (The co-owners of the Navajo Generating Station \(the "Navajo Plant"\) and the Navajo Nation agreed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 428.45 Td (that the Navajo Plant will remain in operation until December 2019 under the existing plant lease. ) Tj ET Q q 0 0 0 rg BT 502.47 428.45 Td (The co-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 414.65 Td (owners and the Navajo Nation executed a lease extension on November 29, 2017 that will allow for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 400.85 Td (decommissioning activities to begin after the plant ceases operations in December 2019. ) Tj ET Q q 0 0 0 rg BT 461.27 400.85 Td (V) Tj ET Q q 0 0 0 rg BT 468.30 400.85 Td (arious stakeholders ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 387.05 Td (including regulators, tribal representatives, the plant's coal supplier and the U.S. Department of the Interior ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 373.25 Td (\("DOI"\) have been meeting to determine if an alternate solution can be reached that would permit continued ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 359.45 Td (operation of the plant beyond 2019. ) Tj ET Q q 0 0 0 rg BT 218.77 359.45 Td (Although we cannot predict whether any alternate plans will be found that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 345.65 Td (would be acceptable to all of the stakeholders and feasible to implement, we believe it is probable that the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 331.85 Td (Navajo Plant will cease operations in December 2019.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 304.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 304.25 Td (On February 14, 2017, the ) Tj ET Q q 0 0 0 rg BT 209.11 304.25 Td (ACC opened a docket titled "ACC Investigation Concerning the Future of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 290.45 Td (the Navajo Generating Station" with the stated goal of engaging stakeholders and negotiating a sustainable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 276.65 Td (pathway for the Navajo Plant to continue operating in some form after December 2019. ) Tj ET Q q 0 0 0 rg BT 457.00 276.65 Td (APS cannot predict ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 262.85 Td (the outcome of this proceeding.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 235.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 235.25 Td (APS is currently recovering depreciation and a return on the net book value of its interest in the Navajo ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 221.45 Td (Plant over its previously estimated life through 2026. ) Tj ET Q q 0 0 0 rg BT 299.28 221.45 Td (APS will seek continued recovery in rates for the book ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 207.65 Td (value of its remaining investment in the plant \() Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 264.76 207.65 Td ($95 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 318.11 207.65 Td ( as of March 31, 2018\) plus a return on the net book ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 193.85 Td (value as well as other costs related to retirement and closure, which are still being assessed and may be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 180.05 Td (material. ) Tj ET Q q 0 0 0 rg BT 95.17 180.05 Td (APS believes it will be allowed recovery of the net book value, in addition to a return on its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 166.25 Td (investment. In accordance with GAAP) Tj ET Q q 0 0 0 rg BT 228.98 166.25 Td (, in the second quarter of 2017, ) Tj ET Q q 0 0 0 rg BT 374.30 166.25 Td (APS's remaining net book value of its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 152.45 Td (interest in the Navajo Plant was reclassified from property) Tj ET Q q 0 0 0 rg BT 317.01 152.45 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 49.50 138.65 Td (ACC does not allow full recovery of the remaining net book value of this interest, all or a portion of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 124.85 Td (regulatory asset will be written of) Tj ET Q q 0 0 0 rg BT 204.18 124.85 Td (f and ) Tj ET Q q 0 0 0 rg BT 229.73 124.85 Td (APS's net income, cash flows, and financial position will be negatively ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 111.05 Td (impacted. ) Tj ET Q endstream endobj 67 0 obj <> endobj 68 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (31) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (Regulatory ) Tj ET Q q 0 0 0 rg BT 106.68 712.25 Td (Assets and Liabilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 210.84 712.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 686.45 Td (The detail of regulatory assets is as follows \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 625.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 625.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 625.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 625.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 625.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 625.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 625.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 625.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 625.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 625.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 595.95 193.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 595.95 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 595.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 595.95 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 595.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 595.95 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 595.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 595.95 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 595.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 595.95 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 545.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 545.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 545.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 545.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 545.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 545.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 545.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 545.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 545.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 545.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 515.95 193.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 515.95 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 515.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 515.95 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 515.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 515.95 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 515.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 515.95 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 515.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 515.95 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 475.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 475.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 475.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 475.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 475.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 475.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 475.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 475.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 475.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 475.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 445.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 445.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 445.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 445.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 445.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 445.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 445.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 445.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 445.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 445.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 415.95 193.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 415.95 64.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 415.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 415.95 60.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 415.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 415.95 60.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 415.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 415.95 60.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 415.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 415.95 60.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 380.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 380.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 380.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 380.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 380.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 380.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 380.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 380.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 380.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 380.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 350.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 350.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 350.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 350.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 350.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 350.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 350.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 350.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 350.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 350.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 320.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 320.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 320.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 320.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 320.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 320.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 320.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 320.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 320.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 320.95 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 649.95 m 371 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 649.95 m 375 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 649.95 m 435 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 649.95 m 499 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 649.95 m 503 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 649.95 m 563 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 625.95 m 307 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 625.95 m 371 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 625.95 m 435 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 625.95 m 499 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 649.95 m 563 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 625.95 m 563 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 625.95 m 371 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 625.95 m 435 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 625.95 m 499 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 625.95 m 563 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 320.95 m 371 320.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 320.95 m 435 320.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 320.95 m 499 320.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 320.95 m 563 320.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 320.95 m 371 320.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 306.95 m 371 306.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 304.95 m 371 304.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 320.95 m 435 320.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 306.95 m 435 306.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 304.95 m 435 304.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 320.95 m 499 320.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 306.95 m 499 306.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 304.95 m 499 304.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 320.95 m 563 320.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 306.95 m 563 306.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 304.95 m 563 304.95 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 654.63 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.85 640.63 Td (Amortization) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.65 630.63 Td (Thr) Tj ET Q q 0 0 0 rg BT 272.23 630.63 Td (ough) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.40 654.63 Td (Mar) Tj ET Q q 0 0 0 rg BT 358.19 654.63 Td (ch 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 654.63 Td (December) Tj ET Q q 0 0 0 rg BT 503.37 654.63 Td ( 31, 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 630.63 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.05 630.63 Td (Curr) Tj ET Q q 0 0 0 rg BT 344.62 630.63 Td (ent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.90 640.63 Td (Non-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.05 630.63 Td (Curr) Tj ET Q q 0 0 0 rg BT 408.62 630.63 Td (ent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.05 630.63 Td (Curr) Tj ET Q q 0 0 0 rg BT 472.62 630.63 Td (ent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.90 640.63 Td (Non-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.05 630.63 Td (Curr) Tj ET Q q 0 0 0 rg BT 536.53 630.63 Td (ent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 615.62 Td (Pension) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.40 615.62 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.50 615.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 615.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.50 615.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 615.62 Td (569,784) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 615.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 615.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 615.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 615.62 Td (576,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 600.62 Td (Retired power plant costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 600.62 Td (2033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 600.62 Td (26,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 600.62 Td (180,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 600.62 Td (27,402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 600.62 Td (188,843) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 585.62 Td (Income taxes allowance for funds used) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 575.62 Td (during construction \("AFUDC"\) equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 575.62 Td (2048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 575.62 Td (3,818) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 575.62 Td (143,619) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 575.62 Td (3,828) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 575.62 Td (142,852) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 560.62 Td (Deferred fuel and purchased power mark-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 550.62 Td (to-market \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 550.62 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 550.62 Td (62,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 550.62 Td (45,788) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 550.62 Td (52,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 550.62 Td (34,845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 535.62 Td (Deferred fuel and purchased power \(b\) \(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 535.62 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 535.62 Td (74,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 535.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 535.62 Td (75,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 535.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 520.62 Td (Four Corners cost deferral) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 520.62 Td (2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 520.62 Td (8,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 520.62 Td (46,285) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 520.62 Td (8,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 520.62 Td (48,305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 505.62 Td (Income taxes investment tax credit basis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 495.62 Td (adjustment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 495.62 Td (2046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 495.62 Td (1,066) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 495.62 Td (26,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 495.62 Td (1,066) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 495.62 Td (26,218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 480.62 Td (Lost fixed cost recovery \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 480.62 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 480.62 Td (54,384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 480.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 480.62 Td (59,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 480.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 465.62 Td (Palo ) Tj ET Q q 0 0 0 rg BT 72.69 465.62 Td (V) Tj ET Q q 0 0 0 rg BT 79.27 465.62 Td (erde ) Tj ET Q q 0 0 0 rg BT 98.33 465.62 Td (VIEs \(Note 6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 465.62 Td (2046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 465.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 465.62 Td (19,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 465.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 465.62 Td (19,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 450.62 Td (Deferred compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 450.62 Td (2036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 450.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 450.62 Td (37,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 450.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 450.62 Td (36,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 435.62 Td (Deferred property taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 435.62 Td (2027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 435.62 Td (8,569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 435.62 Td (73,244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 435.62 Td (8,569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 435.62 Td (74,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 420.62 Td (Loss on reacquired debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 420.62 Td (2038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 420.62 Td (1,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 420.62 Td (14,896) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 420.62 Td (1,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 420.62 Td (15,305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 400.62 Td (T) Tj ET Q q 0 0 0 rg BT 58.26 400.62 Td (ax expense of Medicare subsidy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 400.62 Td (2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 400.62 Td (1,235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 400.62 Td (7,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 400.62 Td (1,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 400.62 Td (7,415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 385.62 Td (T) Tj ET Q q 0 0 0 rg BT 58.43 385.62 Td (ransmission cost adjustor \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 385.62 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 385.62 Td (6,867) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 385.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 385.62 Td (1,220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 385.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 370.62 Td (AG-1 deferral) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 370.62 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 370.62 Td (2,654) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 370.62 Td (7,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 370.62 Td (2,654) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 370.62 Td (8,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 355.62 Td (Mead-Phoenix transmission line CIAC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 355.62 Td (2050) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.15 355.62 Td (332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 355.62 Td (10,293) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 355.62 Td (332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 355.62 Td (10,376) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 340.62 Td (Coal reclamation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 340.62 Td (2026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 340.62 Td (1,068) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 340.62 Td (12,468) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 340.62 Td (1,068) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 340.62 Td (12,396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 325.62 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.90 325.62 Td (V) Tj ET Q q 0 0 0 rg BT 279.01 325.62 Td (arious) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 325.62 Td (46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 325.62 Td (4,991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 325.62 Td (3,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 325.62 Td (353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 311.07 Td (T) Tj ET Q q 0 0 0 rg BT 63.91 311.07 Td (otal regulatory assets \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 310.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.50 310.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 310.62 Td (253,075) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.50 310.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.10 310.62 Td (1,200,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 310.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 310.62 Td (248,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 310.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 310.62 Td (1,202,302) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 278.85 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 278.85 Td (This asset represents the future recovery of pension benefit obligations through retail rates. If these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.05 Td (costs are disallowed by the ) Tj ET Q q 0 0 0 rg BT 211.66 265.05 Td (ACC, this regulatory asset would be char) Tj ET Q q 0 0 0 rg BT 400.84 265.05 Td (ged to OCI and result in lower ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 251.25 Td (future revenues.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 237.45 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 237.45 Td (See "Cost Recovery Mechanisms" discussion above.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 223.65 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 223.65 Td (There are no regulatory assets for which the ) Tj ET Q q 0 0 0 rg BT 289.87 223.65 Td (ACC has allowed recovery of costs, but not allowed a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 209.85 Td (return by exclusion from rate base. FERC rates are set using a formula rate as described in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 196.05 Td ("T) Tj ET Q q 0 0 0 rg BT 96.81 196.05 Td (ransmission Rates, ) Tj ET Q q 0 0 0 rg BT 185.73 196.05 Td (T) Tj ET Q q 0 0 0 rg BT 192.35 196.05 Td (ransmission Cost ) Tj ET Q q 0 0 0 rg BT 273.50 196.05 Td (Adjustor and Other ) Tj ET Q q 0 0 0 rg BT 364.96 196.05 Td (T) Tj ET Q q 0 0 0 rg BT 371.58 196.05 Td (ransmission Matters.") Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 182.25 Td (\(d\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 182.25 Td (Subject to a carrying char) Tj ET Q q 0 0 0 rg BT 203.44 182.25 Td (ge.) Tj ET Q endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (32) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (The detail of regulatory liabilities is as follows \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 698.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 649.75 193.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 649.75 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 649.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 649.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 649.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 649.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 649.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 649.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 649.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 649.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 609.75 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 609.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 609.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 609.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 609.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 609.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 609.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 609.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 609.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 609.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 579.75 193.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 579.75 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 579.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 579.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 579.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 579.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 579.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 579.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 579.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 579.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 539.75 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 539.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 539.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 539.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 539.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 539.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 509.75 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 509.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 509.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 509.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 509.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 509.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 509.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 509.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 509.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 509.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 479.75 193.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 479.75 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 479.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 479.75 60.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 479.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 479.75 60.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 479.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 479.75 60.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 479.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 479.75 60.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 448.75 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 448.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 448.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 448.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 448.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 448.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 448.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 448.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 448.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 448.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 418.75 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 418.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 418.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 418.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 418.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 418.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 418.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 418.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 418.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 418.75 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 673.75 m 371 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 673.75 m 375 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 673.75 m 435 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 673.75 m 499 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 673.75 m 503 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 673.75 m 563 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 649.75 m 307 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 649.75 m 371 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 673.75 m 435 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 649.75 m 435 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 649.75 m 499 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 673.75 m 563 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 649.75 m 563 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 649.75 m 307 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 649.75 m 371 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 649.75 m 435 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 649.75 m 499 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 649.75 m 563 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 418.75 m 371 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 418.75 m 435 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 418.75 m 499 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 418.75 m 563 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 418.75 m 371 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 404.75 m 371 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 402.75 m 371 402.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 418.75 m 435 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 404.75 m 435 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 402.75 m 435 402.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 418.75 m 499 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 404.75 m 499 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 402.75 m 499 402.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 418.75 m 563 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 404.75 m 563 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 402.75 m 563 402.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 678.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.85 664.43 Td (Amortization) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.65 654.43 Td (Thr) Tj ET Q q 0 0 0 rg BT 272.23 654.43 Td (ough) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.40 678.43 Td (Mar) Tj ET Q q 0 0 0 rg BT 358.19 678.43 Td (ch 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 678.43 Td (December) Tj ET Q q 0 0 0 rg BT 503.37 678.43 Td ( 31, 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 654.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.05 654.43 Td (Curr) Tj ET Q q 0 0 0 rg BT 344.62 654.43 Td (ent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.90 664.43 Td (Non-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.05 654.43 Td (Curr) Tj ET Q q 0 0 0 rg BT 408.62 654.43 Td (ent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.05 654.43 Td (Curr) Tj ET Q q 0 0 0 rg BT 472.62 654.43 Td (ent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.90 664.43 Td (Non-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.05 654.43 Td (Curr) Tj ET Q q 0 0 0 rg BT 536.53 654.43 Td (ent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 639.42 Td (Excess deferred income taxes - ) Tj ET Q q 0 0 0 rg BT 179.29 639.42 Td (T) Tj ET Q q 0 0 0 rg BT 184.96 639.42 Td (ax Cuts and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 629.42 Td (Jobs ) Tj ET Q q 0 0 0 rg BT 72.51 629.42 Td (Act) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.40 629.42 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.50 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 629.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.50 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.10 629.42 Td (1,519,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 629.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 629.42 Td (1,520,274) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 614.42 Td (Asset retirement obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 614.42 Td (2057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 614.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 614.42 Td (315,922) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 614.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 614.42 Td (332,171) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 599.42 Td (Removal costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.80 599.42 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 599.42 Td (26,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 599.42 Td (197,274) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 599.42 Td (18,238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 599.42 Td (209,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 584.42 Td (Other postretirement benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.80 584.42 Td (\(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 584.42 Td (37,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 584.42 Td (142,560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 584.42 Td (37,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 584.42 Td (151,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 569.42 Td (Income taxes deferred investment tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 559.42 Td (credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 559.42 Td (2046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 559.42 Td (2,144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 559.42 Td (52,478) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 559.42 Td (2,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 559.42 Td (52,497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 544.42 Td (Income taxes change in rates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 544.42 Td (2046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 544.42 Td (2,799) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 544.42 Td (73,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 544.42 Td (2,573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 544.42 Td (70,537) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 529.42 Td (Spent nuclear fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 529.42 Td (2027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 529.42 Td (6,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 529.42 Td (61,736) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 529.42 Td (6,924) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 529.42 Td (62,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 514.42 Td (Renewable ener) Tj ET Q q 0 0 0 rg BT 116.54 514.42 Td (gy standard \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 514.42 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 514.42 Td (32,694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 514.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 514.42 Td (23,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 514.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 499.42 Td (Demand side management \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 499.42 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 499.42 Td (4,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 499.42 Td (4,123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 499.42 Td (3,066) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 499.42 Td (4,921) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 484.42 Td (Sundance maintenance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 484.42 Td (2030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 484.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 484.42 Td (17,299) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 484.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 484.42 Td (16,897) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 468.42 Td (Deferred gains on utility property) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 468.42 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 468.42 Td (4,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 468.42 Td (9,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 468.42 Td (4,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 468.42 Td (10,988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 453.42 Td (Four Corners coal reclamation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 453.42 Td (2038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 453.42 Td (1,858) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 453.42 Td (18,525) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 453.42 Td (1,858) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 453.42 Td (18,921) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 438.42 Td (T) Tj ET Q q 0 0 0 rg BT 58.26 438.42 Td (ax expense adjustor mechanism \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 438.42 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 438.42 Td (15,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 438.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 438.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 438.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 423.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.90 423.42 Td (V) Tj ET Q q 0 0 0 rg BT 279.01 423.42 Td (arious) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 423.42 Td (1,692) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 423.42 Td (2,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 423.42 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 423.42 Td (2,022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 408.87 Td (T) Tj ET Q q 0 0 0 rg BT 63.91 408.87 Td (otal regulatory liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 408.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.50 408.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 408.87 Td (136,535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.50 408.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.10 408.87 Td (2,415,417) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 408.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 408.87 Td (100,086) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 408.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 408.87 Td (2,452,536) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 376.65 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 376.65 Td (While the majority of the excess deferred tax balance shown is subject to special amortization rules ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 362.85 Td (under federal income tax laws, which require amortization of the balance over the remaining regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 349.05 Td (life of the related property) Tj ET Q q 0 0 0 rg BT 205.45 349.05 Td (, treatment of a portion of the liability) Tj ET Q q 0 0 0 rg BT 378.44 349.05 Td (, and the month in which pass-through ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 335.25 Td (of the excess deferred tax balance will begin is subject to regulatory approval. ) Tj ET Q q 0 0 0 rg BT 449.65 335.25 Td (This approval will be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 321.45 Td (sought through the Company's ) Tj ET Q q 0 0 0 rg BT 228.56 321.45 Td (TEAM adjustor mechanism and FERC filings in 2018. ) Tj ET Q q 0 0 0 rg BT 485.38 321.45 Td (As a result, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 307.65 Td (Company cannot estimate the amount of this regulatory liability which is expected to reverse within the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 293.85 Td (next 12 months. See Note 15. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 227.00 293.85 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 280.05 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 280.05 Td (In accordance with regulatory accounting guidance, ) Tj ET Q q 0 0 0 rg BT 325.94 280.05 Td (APS accrues for removal costs for its regulated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 266.25 Td (assets, even if there is no legal obligation for removal.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 252.45 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 252.45 Td (See Cost Recovery Mechanisms discussion above.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 238.65 Td (\(d\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 238.65 Td (See Note 5.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 197.25 Td (5) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 55.25 197.25 Td (.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 197.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 197.25 Td (Retir) Tj ET Q q 0 0 0 rg BT 110.83 197.25 Td (ement Plans and Other) Tj ET Q q 0 0 0 rg BT 224.03 197.25 Td ( Postr) Tj ET Q q 0 0 0 rg BT 252.88 197.25 Td (etir) Tj ET Q q 0 0 0 rg BT 269.90 197.25 Td (ement Benefits) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 342.40 197.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 183.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 169.65 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 169.65 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 169.65 Td (est sponsors a qualified defined benefit and account balance pension plan, a non-qualified ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.85 Td (supplemental excess benefit retirement plan, and an other postretirement benefit plan for the employees of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 142.05 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 142.05 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 142.05 Td (est and our subsidiaries. Pinnacle ) Tj ET Q q 0 0 0 rg BT 260.23 142.05 Td (W) Tj ET Q q 0 0 0 rg BT 270.16 142.05 Td (est uses a December31 measurement date for its pension and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 128.25 Td (other postretirement benefit plans. ) Tj ET Q q 0 0 0 rg BT 212.80 128.25 Td (The market-related value of our plan assets is their fair value at the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 114.45 Td (measurement dates. Because of plan changes in September 2014, the Company sought IRS approval to move ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.65 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 100.65 Td ($186 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.90 100.65 Td ( of other postretirement benefit trust assets into a new trust account to pay for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.85 Td (active union employee medical costs. In December 2016, FERC approved a methodology for determining the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 73.05 Td (amount of other postretirement benefit trust assets to transfer into a new trust account to pay for active union ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 59.25 Td (employee medical costs. On January 2, 2018, these funds were moved to the new trust account which is ) Tj ET Q endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (33) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (included in the other special use funds on the Condensed Consolidated Balance Sheets. ) Tj ET Q q 0 0 0 rg BT 455.86 712.05 Td (The Company ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (negotiated a draft Closing ) Tj ET Q q 0 0 0 rg BT 170.87 698.25 Td (Agreement granting tentative approval from the IRS prior to the transfer) Tj ET Q q 0 0 0 rg BT 502.99 698.25 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (Subsequent to the transfer) Tj ET Q q 0 0 0 rg BT 168.80 684.45 Td (, the Company submitted proof of the transfer to the IRS. ) Tj ET Q q 0 0 0 rg BT 434.65 684.45 Td (The Company and the IRS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (executed a final Closing ) Tj ET Q q 0 0 0 rg BT 163.19 670.65 Td (Agreement on March 2, 2018. Per the terms of an order from FERC, the Company ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (must also make an informational filing with FERC. ) Tj ET Q q 0 0 0 rg BT 288.54 656.85 Td (The Company made this FERC filing during February ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (2018. It is the Company) Tj ET Q q 0 0 0 rg BT 163.54 643.05 Td (s understanding that completion of these regulatory requirements permits access to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 629.25 Td ($186 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.90 629.25 Td ( for the sole purpose of paying active union employee medical benefits.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 601.65 Td (The following table provides details of the plans) Tj ET Q q 0 0 0 rg BT 311.08 601.65 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 49.50 587.85 Td (costs char) Tj ET Q q 0 0 0 rg BT 94.96 587.85 Td (ged to expense \(including administrative costs and excluding amounts capitalized as overhead ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (construction or billed to electric plant participants\) \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 483.75 322.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 483.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 483.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 483.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 483.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 453.75 322.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 453.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 453.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 453.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 453.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 453.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 453.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 453.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 423.75 322.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 423.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 423.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 423.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 423.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 423.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 423.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 423.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 393.75 322.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 393.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 393.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 393.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 393.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 363.75 322.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 363.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 363.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 363.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 363.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 363.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 363.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 363.75 45.00 -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 372 534.75 m 417 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 534.75 m 421 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 534.75 m 466 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 534.75 m 515 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 534.75 m 519 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 534.75 m 564 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 534.75 m 417 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 498.75 m 417 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 534.75 m 421 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 498.75 m 421 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 534.75 m 466 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 498.75 m 466 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 534.75 m 515 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 498.75 m 515 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 534.75 m 519 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 498.75 m 519 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 534.75 m 564 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 498.75 m 564 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 498.75 m 417 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 483.75 m 417 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 498.75 m 466 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 483.75 m 466 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 498.75 m 515 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 483.75 m 515 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 498.75 m 564 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 483.75 m 564 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 483.75 m 417 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 483.75 m 466 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 483.75 m 515 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 483.75 m 564 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 378.75 m 417 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 378.75 m 466 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 378.75 m 515 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 378.75 m 564 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 378.75 m 417 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 364.75 m 417 364.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 362.75 m 417 362.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 378.75 m 466 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 364.75 m 466 364.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 362.75 m 466 362.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 378.75 m 515 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 364.75 m 515 364.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 362.75 m 515 362.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 378.75 m 564 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 364.75 m 564 364.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 362.75 m 564 362.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 349.75 m 417 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 347.75 m 417 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 349.75 m 466 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 347.75 m 466 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 349.75 m 515 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 347.75 m 515 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 349.75 m 564 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 347.75 m 564 347.75 l s BT /F2 10.50 Tf ET q 0 0 0 rg BT 52.50 539.54 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.35 539.43 Td (PensionBenefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.30 539.43 Td (Other) Tj ET Q q 0 0 0 rg BT 510.76 539.43 Td (Benefits) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 52.50 503.54 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 386.65 524.54 Td (Thr) Tj ET Q q 0 0 0 rg BT 404.06 524.54 Td (ee Months) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 403.90 514.04 Td (Ended) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 394.20 503.54 Td (Mar) Tj ET Q q 0 0 0 rg BT 416.55 503.54 Td (ch 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 484.65 524.54 Td (Thr) Tj ET Q q 0 0 0 rg BT 501.96 524.54 Td (ee Months) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 501.90 514.04 Td (Ended) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 492.20 503.54 Td (Mar) Tj ET Q q 0 0 0 rg BT 514.46 503.54 Td (ch 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 52.50 488.54 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.00 488.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.00 488.43 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.00 488.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.00 488.43 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 473.42 Td (Service cost benefits earned during the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 473.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.60 473.42 Td (14,213) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.50 473.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.60 473.42 Td (13,760) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 473.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 473.42 Td (5,105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.50 473.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 473.42 Td (4,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 458.42 Td (Non-service costs \(credits\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 443.42 Td ( Interest cost on benefit obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.60 443.42 Td (31,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.60 443.42 Td (32,701) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 443.42 Td (7,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 443.42 Td (7,565) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 428.42 Td ( Expected return on plan assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 428.47 Td (\(45,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 428.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.30 428.47 Td (\(43,710) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 428.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.30 428.47 Td (\(10,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 428.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.30 428.47 Td (\(13,350) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.15 428.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 413.42 Td ( ) Tj ET Q q 0 0 0 rg BT 57.22 413.42 Td (Amortization of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.50 413.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.50 413.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.50 413.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 398.42 Td ( Prior service cost \(credit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 398.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 398.42 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.30 398.47 Td (\(9,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 398.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.30 398.47 Td (\(9,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.15 398.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 383.42 Td ( Net actuarial loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 383.42 Td (7,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.60 383.42 Td (12,489) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.15 383.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 383.42 Td (1,454) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 368.42 Td (Net periodic benefit cost \(credit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 368.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 368.42 Td (7,335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.50 368.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.60 368.42 Td (15,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 368.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.30 368.47 Td (\(7,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 368.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.50 368.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.30 368.47 Td (\(9,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.15 368.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 353.42 Td (Portion of cost \(credit\) char) Tj ET Q q 0 0 0 rg BT 162.84 353.42 Td (ged to expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 353.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 353.42 Td (2,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.50 353.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 353.42 Td (7,568) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 353.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.30 353.47 Td (\(5,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 353.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.50 353.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.30 353.47 Td (\(4,678) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.15 353.42 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 335.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 321.65 Td (On January 1, 2018, we adopted new accounting standard ) Tj ET Q q 0 0 0 rg BT 353.45 321.65 Td (ASU 2017-07, Compensation-Retirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.85 Td (Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 294.05 Td (Cost. ) Tj ET Q q 0 0 0 rg BT 79.01 294.05 Td (This new standard changed our income statement presentation of net periodic benefit cost/\(credits\) and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 280.25 Td (allows only the service cost component of net periodic benefit cost to be eligible for capitalization. See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 266.45 Td (13 for additional information.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 238.85 Td (Contributions) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 225.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 211.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 211.25 Td (e have made voluntary contributions of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 278.75 211.25 Td ($50 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 332.10 211.25 Td ( to our pension plan year) Tj ET Q q 0 0 0 rg BT 445.88 211.25 Td (-to-date in 2018. ) Tj ET Q q 0 0 0 rg BT 527.75 211.25 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 197.45 Td (minimum required contributions for the pension plan are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 313.30 197.45 Td (zero) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.09 197.45 Td ( for the next three years. ) Tj ET Q q 0 0 0 rg BT 450.39 197.45 Td (W) Tj ET Q q 0 0 0 rg BT 460.33 197.45 Td (e expect to make ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 183.65 Td (voluntary contributions up to a total of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 229.96 183.65 Td ($250 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 289.06 183.65 Td ( during the 2018-2020 period. ) Tj ET Q q 0 0 0 rg BT 432.26 183.65 Td (W) Tj ET Q q 0 0 0 rg BT 442.20 183.65 Td (e do not expect to make ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.85 Td (any contributions over the next three years to our other postretirement benefit plans. ) Tj ET Q q 0 0 0 rg BT 441.56 169.85 Td (Y) Tj ET Q q 0 0 0 rg BT 448.71 169.85 Td (ear to date in 2018, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 156.05 Td (Company was reimbursed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 172.46 156.05 Td ($22 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 225.82 156.05 Td ( for prior year retiree medical claims from the other postretirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 142.25 Td (benefit plan trust assets. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 162.88 142.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 128.45 Td () Tj ET Q endstream endobj 73 0 obj <> endobj 74 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (34) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (6) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 55.25 712.25 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 712.25 Td (Palo ) Tj ET Q q 0 0 0 rg BT 109.89 712.25 Td (V) Tj ET Q q 0 0 0 rg BT 117.14 712.25 Td (erde Sale Leaseback ) Tj ET Q q 0 0 0 rg BT 219.46 712.25 Td (V) Tj ET Q q 0 0 0 rg BT 226.71 712.25 Td (ariable Inter) Tj ET Q q 0 0 0 rg BT 288.78 712.25 Td (est Entities) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 342.76 712.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.65 Td (In 1986, ) Tj ET Q q 0 0 0 rg BT 126.07 684.65 Td (APS entered into agreements with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 286.08 684.65 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 309.06 684.65 Td ( separate ) Tj ET Q q 0 0 0 rg BT 352.28 684.65 Td (VIE lessor trust entities in order to sell and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (lease back interests in Palo ) Tj ET Q q 0 0 0 rg BT 176.08 670.85 Td (V) Tj ET Q q 0 0 0 rg BT 183.11 670.85 Td (erde Unit 2 and related common facilities. ) Tj ET Q q 0 0 0 rg BT 382.06 670.85 Td (APS will retain the assets through ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 657.05 Td (2023 under ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 104.43 657.05 Td (one) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.04 657.05 Td ( lease and 2033 under the other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 267.62 657.05 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 284.87 657.05 Td ( leases. ) Tj ET Q q 0 0 0 rg BT 323.19 657.05 Td (APS will be required to make payments relating to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.25 Td (these leases of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 188.09 643.25 Td ($23 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 241.45 643.25 Td ( annually through 2023, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.67 643.25 Td ($16 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 427.03 643.25 Td ( annually for the period 2024 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.45 Td (through 2033. ) Tj ET Q q 0 0 0 rg BT 119.14 629.45 Td (At the end of the lease period, ) Tj ET Q q 0 0 0 rg BT 259.65 629.45 Td (APS will have the option to purchase the leased assets at their ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.65 Td (fair market value, extend the leases for up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 257.06 615.65 Td (two years) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 301.45 615.65 Td (, or return the assets to the lessors.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 588.05 Td (The leases' terms give ) Tj ET Q q 0 0 0 rg BT 189.13 588.05 Td (APS the ability to utilize the assets for a significant portion of the assets) Tj ET Q q 0 0 0 rg BT 523.32 588.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.25 Td (economic life, and therefore provide ) Tj ET Q q 0 0 0 rg BT 219.38 574.25 Td (APS with the power to direct activities of the ) Tj ET Q q 0 0 0 rg BT 429.65 574.25 Td (VIEs that most significantly ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.45 Td (impact the ) Tj ET Q q 0 0 0 rg BT 100.39 560.45 Td (VIEs) Tj ET Q q 0 0 0 rg BT 127.00 560.45 Td ( economic performance. Predominantly due to the lease terms, ) Tj ET Q q 0 0 0 rg BT 419.52 560.45 Td (APS has been deemed the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.65 Td (primary beneficiary of these ) Tj ET Q q 0 0 0 rg BT 182.12 546.65 Td (VIEs and therefore consolidates the ) Tj ET Q q 0 0 0 rg BT 348.93 546.65 Td (VIEs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 532.85 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 519.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 519.05 Td (As a result of consolidation, we eliminate lease accounting and instead recognize depreciation expense, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.25 Td (resulting in an increase in net income for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 257.39 505.25 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 423.47 505.25 Td ( and 2017 of $) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.90 505.25 Td (5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.75 505.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.45 Td (entirely attributable to the noncontrolling interests. Income attributable to Pinnacle ) Tj ET Q q 0 0 0 rg BT 432.85 491.45 Td (W) Tj ET Q q 0 0 0 rg BT 442.78 491.45 Td (est shareholders is not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.65 Td (impacted by the consolidation. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 450.05 Td (Our Condensed Consolidated Balance Sheets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 307.79 450.05 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.93 450.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 403.28 450.05 Td (December31, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 493.66 450.05 Td ( include the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (following amounts relating to the ) Tj ET Q q 0 0 0 rg BT 205.48 436.25 Td (VIEs \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 422.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 385.95 354.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 385.95 74.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 385.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 385.95 75.00 -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 404 385.95 m 478 385.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 385.95 m 557 385.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 385.95 m 478 385.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 385.95 m 557 385.95 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 416.45 401.85 Td (Mar) Tj ET Q q 0 0 0 rg BT 437.12 401.85 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 429.50 390.85 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 487.00 401.85 Td (December) Tj ET Q q 0 0 0 rg BT 534.44 401.85 Td ( 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 508.00 390.85 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 375.48 Td (Palo ) Tj ET Q q 0 0 0 rg BT 75.61 375.48 Td (V) Tj ET Q q 0 0 0 rg BT 82.64 375.48 Td (erde sale leaseback property plant and equipment, net of) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 61.50 363.98 Td (accumulated depreciation) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.50 363.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 436.25 363.98 Td (108,678) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 484.50 363.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 515.25 363.98 Td (109,645) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 347.98 Td (Equity Noncontrolling interests) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 436.25 347.98 Td (133,914) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 515.25 347.98 Td (129,040) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 329.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 315.85 Td (Assets of the ) Tj ET Q q 0 0 0 rg BT 147.58 315.85 Td (VIEs are restricted and may only be used for payment to the noncontrolling interest ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 302.05 Td (holders. ) Tj ET Q q 0 0 0 rg BT 91.77 302.05 Td (These assets are reported on our condensed consolidated financial statements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 288.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 274.45 Td (APS is exposed to losses relating to these ) Tj ET Q q 0 0 0 rg BT 278.87 274.45 Td (VIEs upon the occurrence of certain events that ) Tj ET Q q 0 0 0 rg BT 499.84 274.45 Td (APS does not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 260.65 Td (consider to be reasonably likely to occur) Tj ET Q q 0 0 0 rg BT 235.36 260.65 Td (. Under certain circumstances \(for example, the Nuclear Regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 246.85 Td (Commission \("NRC"\) issuing specified violation orders with respect to Palo ) Tj ET Q q 0 0 0 rg BT 403.02 246.85 Td (V) Tj ET Q q 0 0 0 rg BT 410.05 246.85 Td (erde or the occurrence of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 233.05 Td (specified nuclear events\), ) Tj ET Q q 0 0 0 rg BT 168.92 233.05 Td (APS would be required to make specified payments to the ) Tj ET Q q 0 0 0 rg BT 438.91 233.05 Td (VIEs) Tj ET Q q 0 0 0 rg BT 465.52 233.05 Td ( noncontrolling ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 219.25 Td (equity participants and take title to the leased Unit 2 interests, which, if appropriate, may be required to be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 205.45 Td (written down in value. If such an event were to occur during the lease periods, ) Tj ET Q q 0 0 0 rg BT 414.84 205.45 Td (APS may be required to pay the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 191.65 Td (noncontrolling equity participants approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 277.53 191.65 Td ($295 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 336.64 191.65 Td ( beginning in 2018, and up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 474.63 191.65 Td ($456 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 533.73 191.65 Td ( over ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 177.85 Td (the lease terms. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 164.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 150.25 Td (For regulatory ratemaking purposes, the agreements continue to be treated as operating leases and, as a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 136.45 Td (result, we have recorded a regulatory asset relating to the arrangements.) Tj ET Q endstream endobj 75 0 obj <> endobj 76 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (35) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 707.75 Td (7) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 55.25 707.75 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 707.75 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 138.83 707.75 Td (Accounting) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 195.06 707.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 680.15 Td (Derivative financial instruments are used to manage exposure to commodity price and transportation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.35 Td (costs of electricity) Tj ET Q q 0 0 0 rg BT 133.06 666.35 Td (, natural gas, coal and emissions allowances, and in interest rates. Risks associated with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.55 Td (market volatility are managed by utilizing various physical and financial derivative instruments, including ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.75 Td (futures, forwards, options and swaps. ) Tj ET Q q 0 0 0 rg BT 226.13 638.75 Td (As part of our overall risk management program, we may use derivative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 624.95 Td (instruments to hedge purchases and sales of electricity and fuels. Derivative instruments that meet certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 611.15 Td (hedge accounting criteria may be designated as cash flow hedges and are used to limit our exposure to cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 597.35 Td (flow variability on forecasted transactions. ) Tj ET Q q 0 0 0 rg BT 251.44 597.35 Td (The changes in market value of such instruments have a high ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.55 Td (correlation to price changes in the hedged transactions. Derivative instruments are also entered into for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 569.75 Td (economic hedging purposes. ) Tj ET Q q 0 0 0 rg BT 186.31 569.75 Td (While economic hedges may mitigate exposure to fluctuations in commodity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 555.95 Td (prices, these instruments have not been designated as accounting hedges. Contracts that have the same terms ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 542.15 Td (\(quantities, delivery points and delivery periods\) and for which power does not flow are netted, which reduces ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 528.35 Td (both revenues and fuel and purchased power costs in our Condensed Consolidated Statements of Income, but ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.55 Td (does not impact our financial condition, net income or cash flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 500.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 486.95 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 49.50 473.15 Td (balance sheet as an asset or liability and are measured at fair value. See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.09 473.15 Td (1) Tj ET Q q 0 0 0 rg BT 413.42 473.15 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.17 473.15 Td ( for a discussion of fair value ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 459.35 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 49.50 445.55 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 49.50 431.75 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 49.50 417.95 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 49.50 404.15 Td (below) Tj ET Q q 0 0 0 rg BT 76.86 404.15 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 390.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 376.55 Td (For its regulated operations, ) Tj ET Q q 0 0 0 rg BT 216.77 376.55 Td (APS defers for future rate treatment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 384.74 376.55 Td (100%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 411.57 376.55 Td ( of the unrealized gains and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.75 Td (losses on derivatives pursuant to the PSA) Tj ET Q q 0 0 0 rg BT 239.24 362.75 Td ( mechanism that would otherwise be recognized in income. Realized ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.95 Td (gains and losses on derivatives are deferred in accordance with the PSA) Tj ET Q q 0 0 0 rg BT 379.39 348.95 Td ( to the extent the amounts are above or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 335.15 Td (below the Base Fuel Rate \(see Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 216.52 335.15 Td (4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 222.27 335.15 Td (\). Gains and losses from derivatives in the following tables represent the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.35 Td (amounts reflected in income before the ef) Tj ET Q q 0 0 0 rg BT 240.88 321.35 Td (fect of PSA) Tj ET Q q 0 0 0 rg BT 293.90 321.35 Td ( deferrals.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 307.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 293.75 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.61 293.75 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 186.75 293.75 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 209.10 293.75 Td (December31, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 299.48 293.75 Td (, we had the following outstanding gross notional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.95 Td (volume of derivatives, which represent both purchases and sales \(does not reflect net position\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 239.45 85.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 135.00 239.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 139.00 239.45 162.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.00 239.45 129.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 239.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 239.45 129.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301 254.45000000000005 m 430 254.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 254.45000000000005 m 434 254.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 254.45000000000005 m 563 254.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 239.45000000000005 m 135 239.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 139 239.45000000000005 m 301 239.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301 254.45000000000005 m 430 254.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301 239.45000000000005 m 430 239.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 254.45000000000005 m 434 254.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 254.45000000000005 m 563 254.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 239.45000000000005 m 563 239.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 139 239.45000000000005 m 301 239.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301 239.45000000000005 m 430 239.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 239.45000000000005 m 434 239.45000000000005 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.30 259.13 Td (Quantity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 244.13 Td (Commodity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.85 244.13 Td (Unit of Measur) Tj ET Q q 0 0 0 rg BT 249.75 244.13 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.90 244.13 Td (Mar) Tj ET Q q 0 0 0 rg BT 350.69 244.13 Td (ch 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.65 244.13 Td (December) Tj ET Q q 0 0 0 rg BT 500.77 244.13 Td ( 31, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 228.48 Td (Power) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 141.50 228.48 Td (GWh) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 228.12 Td (1,277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 228.12 Td (583) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 212.48 Td (Gas) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 141.50 212.98 Td (Billion cubic feet) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 212.12 Td (252) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 212.12 Td (240) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 194.15 Td () Tj ET Q endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (36) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 707.75 Td (Gains and Losses fr) Tj ET Q q 0 0 0 rg BT 146.11 707.75 Td (om Derivative Instruments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 680.15 Td (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 49.50 666.35 Td (designated cash flow accounting hedging relationships during the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.54 666.35 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 519.62 666.35 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.55 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 652.55 Td ( \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 530.55 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 52.88 604.05 253.00 -39.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.88 604.05 4.00 -39.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.88 604.05 131.00 -39.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.88 604.05 4.00 -39.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.88 604.05 49.00 -39.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.88 604.05 4.00 -39.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.88 604.05 49.00 -39.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.875 618.05 m 493.875 618.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.875 618.05 m 497.875 618.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.875 618.05 m 546.875 618.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 52.875 604.05 m 305.875 604.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309.875 604.05 m 440.875 604.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.875 618.05 m 493.875 618.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.875 604.05 m 493.875 604.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.875 618.05 m 546.875 618.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.875 604.05 m 546.875 604.05 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.38 622.73 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.93 618.73 Td (FinancialStatement) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.98 608.73 Td (Location) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.88 632.73 Td (Thr) Tj ET Q q 0 0 0 rg BT 466.45 632.73 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.27 622.73 Td (Mar) Tj ET Q q 0 0 0 rg BT 493.56 622.73 Td (ch 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.38 608.73 Td (CommodityContracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.88 608.73 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.88 608.73 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.38 579.72 Td (Loss Recognized in OCI on Derivative Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.38 569.72 Td (\(Ef) Tj ET Q q 0 0 0 rg BT 68.05 569.72 Td (fective Portion\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.38 569.72 Td (OCI derivative instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.38 569.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.02 569.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.38 569.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.67 569.77 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.02 569.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.38 544.72 Td (Loss Reclassified from ) Tj ET Q q 0 0 0 rg BT 149.80 544.72 Td (Accumulated OCI into Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.38 534.72 Td (\(Ef) Tj ET Q q 0 0 0 rg BT 68.05 534.72 Td (fective Portion Realized\) \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.38 534.72 Td (Fuel and purchased power \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.68 534.77 Td (\(491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.02 534.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.67 534.77 Td (\(851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.02 534.72 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 502.95 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 502.95 Td (During the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 137.88 502.95 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.95 502.95 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 326.31 502.95 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 349.31 502.95 Td (, we had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 390.82 502.95 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.32 502.95 Td ( gains or losses reclassified from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 489.15 Td (accumulated OCI to earnings due to the discontinuance of cash flow hedges where the forecasted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 475.35 Td (transaction is not probable of occurring.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 461.55 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 461.55 Td (Amounts are before the ef) Tj ET Q q 0 0 0 rg BT 205.35 461.55 Td (fect of PSA) Tj ET Q q 0 0 0 rg BT 258.38 461.55 Td ( deferrals.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 447.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 433.95 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 369.43 433.95 Td ($2 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 417.03 433.95 Td ( before income taxes will be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 420.15 Td (reclassified from accumulated OCI as an of) Tj ET Q q 0 0 0 rg BT 249.19 420.15 Td (fset to the ef) Tj ET Q q 0 0 0 rg BT 306.14 420.15 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 49.50 406.35 Td (transactions. In accordance with the PSA, most of these amounts will be recorded as either a regulatory asset ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 392.55 Td (or liability and have no immediate ef) Tj ET Q q 0 0 0 rg BT 219.19 392.55 Td (fect on earnings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 364.95 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 49.50 351.15 Td (designated as accounting hedging instruments during the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 313.63 351.15 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.70 351.15 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 502.06 351.15 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 525.06 351.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 337.35 Td (\(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 211.35 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 52.88 275.85 244.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.88 275.85 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.88 275.85 131.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.88 275.85 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.88 275.85 49.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.88 275.85 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.88 275.85 49.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.88 225.85 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.88 225.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.88 225.85 131.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.88 225.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.88 225.85 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.88 225.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.88 225.85 49.00 -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 435.875 289.85 m 484.875 289.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.875 289.85 m 488.875 289.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.875 289.85 m 537.875 289.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 52.875 275.85 m 296.875 275.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.875 275.85 m 431.875 275.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.875 275.85 m 484.875 275.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.875 289.85 m 537.875 289.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.875 275.85 m 537.875 275.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.875 225.85000000000002 m 484.875 225.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.875 225.85000000000002 m 537.875 225.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.875 225.85000000000002 m 484.875 225.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.875 211.85000000000002 m 484.875 211.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.875 209.85000000000002 m 484.875 209.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.875 225.85000000000002 m 537.875 225.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.875 211.85000000000002 m 537.875 211.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.875 209.85000000000002 m 537.875 209.85000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.38 294.53 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.93 290.53 Td (FinancialStatement) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.98 280.53 Td (Location) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.88 304.53 Td (Thr) Tj ET Q q 0 0 0 rg BT 457.45 304.53 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.27 294.53 Td (Mar) Tj ET Q q 0 0 0 rg BT 484.56 294.53 Td (ch 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.38 280.53 Td (CommodityContracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.88 280.53 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.88 280.53 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.38 255.52 Td (Net Loss Recognized in Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.38 255.52 Td (Operating revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.38 255.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.18 255.57 Td (\(1,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.02 255.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.38 255.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.67 255.57 Td (\(288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.02 255.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.38 230.52 Td (Net Loss Recognized in Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.38 230.52 Td (Fuel and purchased power \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.18 230.57 Td (\(34,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.02 230.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.18 230.57 Td (\(52,627) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.02 230.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.38 215.52 Td (T) Tj ET Q q 0 0 0 rg BT 60.79 215.52 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.38 215.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.38 215.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.18 215.57 Td (\(35,308) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.02 215.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.38 215.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.18 215.57 Td (\(52,915) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.02 215.52 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 183.75 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 183.75 Td (Amounts are before the ef) Tj ET Q q 0 0 0 rg BT 205.35 183.75 Td (fect of PSA) Tj ET Q q 0 0 0 rg BT 258.38 183.75 Td ( deferrals.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 169.95 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 156.15 Td (Derivative Instruments in the Condensed Consolidated Balance Sheets) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 142.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 128.55 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 49.50 114.75 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 49.50 100.95 Td (negative exposures associated with a single counterparty) Tj ET Q q 0 0 0 rg BT 309.34 100.95 Td (. ) Tj ET Q q 0 0 0 rg BT 317.33 100.95 Td (Agreements that allow for the of) Tj ET Q q 0 0 0 rg BT 466.90 100.95 Td (fsetting of positive ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 87.15 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 73.35 Td (T) Tj ET Q q 0 0 0 rg BT 56.12 73.35 Td (ransactions with counterparties that have master netting arrangements are of) Tj ET Q q 0 0 0 rg BT 406.22 73.35 Td (fset and reported net on the ) Tj ET Q endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (37) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 707.55 Td (Condensed Consolidated Balance Sheets. ) Tj ET Q q 0 0 0 rg BT 245.40 707.55 Td (T) Tj ET Q q 0 0 0 rg BT 252.02 707.55 Td (ransactions that do not allow for of) Tj ET Q q 0 0 0 rg BT 412.78 707.55 Td (fsetting of positive and negative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.75 Td (positions are reported gross on the Condensed Consolidated Balance Sheets.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 679.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 666.15 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 666.15 Td (e do not of) Tj ET Q q 0 0 0 rg BT 144.73 666.15 Td (fset a counterparty) Tj ET Q q 0 0 0 rg BT 233.50 666.15 Td (s current derivative contracts with the counterparty) Tj ET Q q 0 0 0 rg BT 471.08 666.15 Td (s non-current ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.35 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 49.50 638.55 Td (to be of) Tj ET Q q 0 0 0 rg BT 84.42 638.55 Td (fset in the event of a default. ) Tj ET Q q 0 0 0 rg BT 220.78 638.55 Td (Additionally) Tj ET Q q 0 0 0 rg BT 278.17 638.55 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 49.50 624.75 Td (would allow for the of) Tj ET Q q 0 0 0 rg BT 152.13 624.75 Td (fsetting of all transactions executed under the master netting arrangement. ) Tj ET Q q 0 0 0 rg BT 498.08 624.75 Td (These types ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 610.95 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 49.50 597.15 Td (receivables and trade payables arising from settled positions, and other forms of non-cash collateral \(such as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 583.35 Td (letters of credit\). ) Tj ET Q q 0 0 0 rg BT 131.36 583.35 Td (These types of transactions are excluded from the of) Tj ET Q q 0 0 0 rg BT 371.92 583.35 Td (fsetting tables presented below) Tj ET Q q 0 0 0 rg BT 513.29 583.35 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 569.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 555.75 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 49.50 541.95 Td (reported on a gross basis, and the impacts of of) Tj ET Q q 0 0 0 rg BT 265.83 541.95 Td (fsetting as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 328.11 541.95 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 401.25 541.95 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 423.60 541.95 Td (December31, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 513.97 541.95 Td (. ) Tj ET Q q 0 0 0 rg BT 522.39 541.95 Td (These ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 528.15 Td (amounts relate to commodity contracts and are located in the assets and liabilities from risk management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.35 Td (activities lines of our Condensed Consolidated Balance Sheets.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 442.05 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 442.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 442.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 442.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 442.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 442.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 442.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 442.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 442.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 442.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 442.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 412.05 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 412.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 412.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 412.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 412.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 412.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 412.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 412.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 412.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 412.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 412.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 383.05 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 383.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 383.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 383.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 383.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 383.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 383.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 383.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 383.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 383.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 383.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 353.05 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 353.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 353.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 353.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 353.05 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 353.05 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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431.92 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 394.05 431.92 Td (1,298) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.50 431.92 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 472.30 431.92 Td (696) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 499.50 431.92 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.05 431.92 Td (1,994) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 416.92 Td (Investments and other assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 262.30 416.92 Td (819) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 328.60 416.92 Td (\(819) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.80 416.92 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 407.80 416.92 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 477.80 416.92 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.80 416.92 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 401.92 Td (T) Tj ET Q q 0 0 0 rg BT 58.83 401.92 Td (otal assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 254.05 401.92 Td (6,803) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 320.35 401.92 Td (\(5,505) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.80 401.92 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 394.05 401.92 Td (1,298) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 472.30 401.92 Td (696) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.05 401.92 Td (1,994) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 372.92 Td (Current liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.85 372.92 Td (\(69,999) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.80 372.92 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.05 372.92 Td (4,686) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.85 372.92 Td (\(65,313) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 372.92 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.35 372.92 Td (\(2,430) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.80 372.92 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 372.92 Td (\(67,743) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 372.92 Td (\)) Tj ET Q BT /F1 11.00 Tf 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BT /F1 11.00 Tf ET q 0 0 0 rg BT 379.35 327.92 Td (\(1) Tj ET Q q 0 0 0 rg BT 388.51 327.92 Td (1) Tj ET Q q 0 0 0 rg BT 394.01 327.92 Td (1,641) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 327.92 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.50 327.92 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.35 327.92 Td (\(1,734) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.80 327.92 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 499.50 327.92 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 519.35 327.92 Td (\(1) Tj ET Q q 0 0 0 rg BT 528.51 327.92 Td (13,375) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 327.92 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 295.95 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 295.95 Td (All of our gross recognized derivative instruments were subject to master netting arrangements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 282.15 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 282.15 Td (No) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.56 282.15 Td ( cash collateral has been provided to counterparties, or received from counterparties, that is subject ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 268.35 Td (to of) Tj ET Q q 0 0 0 rg BT 106.69 268.35 Td (fsetting.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 254.55 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 254.55 Td (Represents cash collateral and cash mar) Tj ET Q q 0 0 0 rg BT 268.26 254.55 Td (gin that are not subject to of) Tj ET Q q 0 0 0 rg BT 397.08 254.55 Td (fsetting. ) Tj ET Q q 0 0 0 rg BT 436.69 254.55 Td (Amounts relate to non-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 240.75 Td (derivative instruments, derivatives qualifying for scope exceptions, or collateral and mar) Tj ET Q q 0 0 0 rg BT 492.78 240.75 Td (gin posted in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 226.95 Td (excess of the recognized derivative instrument. ) Tj ET Q q 0 0 0 rg BT 307.12 226.95 Td (Amounts include cash collateral received from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 213.15 Td (counterparties of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 165.97 213.15 Td ($2,430) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 197.59 213.15 Td ( and cash mar) Tj ET Q q 0 0 0 rg BT 260.93 213.15 Td (gin provided to counterparties of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 414.54 213.15 Td ($696) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 437.54 213.15 Td (.) 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/F2 10.00 Tf ET q 0 0 0 rg BT 52.50 680.68 Td (As of December) Tj ET Q q 0 0 0 rg BT 120.07 680.68 Td ( 31, 2017:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 670.68 Td (\(dollars in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.05 700.83 Td (Gr) Tj ET Q q 0 0 0 rg BT 249.09 700.83 Td (oss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.05 690.83 Td (Recognized) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.30 680.83 Td (Derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.40 670.67 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 244.90 670.67 Td (\(a\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.05 690.68 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.45 680.68 Td (Offset) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.35 670.68 Td (\(b\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.00 690.83 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.80 680.67 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.30 680.67 Td (Recognized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.05 670.67 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.55 670.67 Td (Derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 680.83 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.70 670.67 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.20 670.67 Td (\(c\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.95 690.68 Td (Amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.95 680.68 Td (Reportedon) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.60 670.68 Td (Balance Sheet) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 655.87 Td (Current assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 219.50 655.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 254.05 655.87 Td (5,427) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 289.50 655.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 320.35 655.87 Td (\(3,796) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.80 655.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 359.50 655.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 394.05 655.87 Td (1,631) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.50 655.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 472.30 655.87 Td (300) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 499.50 655.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.05 655.87 Td (1,931) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 640.87 Td (Investments and other assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 254.05 640.87 Td (1,292) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 320.35 640.87 Td (\(1,241) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.80 640.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 407.80 640.87 Td (51) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 477.80 640.87 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.80 640.87 Td (51) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 625.87 Td (T) Tj ET Q q 0 0 0 rg BT 58.83 625.87 Td (otal assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 254.05 625.87 Td (6,719) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 320.35 625.87 Td (\(5,037) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.80 625.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 394.05 625.87 Td (1,682) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 472.30 625.87 Td (300) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.05 625.87 Td (1,982) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 596.87 Td (Current liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.85 596.87 Td (\(59,527) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.80 596.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.05 596.87 Td (3,796) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.85 596.87 Td (\(55,731) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 596.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.35 596.87 Td (\(3,521) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.80 596.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 596.87 Td (\(59,252) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 596.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 581.87 Td (Deferred credits and other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.85 581.87 Td (\(38,41) Tj ET Q q 0 0 0 rg BT 273.26 581.87 Td (1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.80 581.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.05 581.87 Td (1,241) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.85 581.87 Td (\(37,170) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 581.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 477.80 581.87 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 581.87 Td (\(37,170) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 581.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 566.87 Td (T) Tj ET Q q 0 0 0 rg BT 58.83 566.87 Td (otal liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.85 566.87 Td (\(97,938) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.80 566.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.05 566.87 Td (5,037) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.85 566.87 Td (\(92,901) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 566.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.35 566.87 Td (\(3,521) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.80 566.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 566.87 Td (\(96,422) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 566.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 551.87 Td (T) Tj ET Q q 0 0 0 rg BT 58.45 551.87 Td (otal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 219.50 551.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.85 551.87 Td (\(91,219) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.80 551.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 289.50 551.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 337.80 551.87 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 359.50 551.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.85 551.87 Td (\(91,219) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 551.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.50 551.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.35 551.87 Td (\(3,221) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.80 551.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 499.50 551.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 551.87 Td (\(94,440) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 551.87 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 519.90 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 519.90 Td (All of our gross recognized derivative instruments were subject to master netting arrangements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 506.10 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 506.10 Td (No) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.56 506.10 Td ( cash collateral has been provided to counterparties, or received from counterparties, that is subject ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 492.30 Td (to of) Tj ET Q q 0 0 0 rg BT 106.69 492.30 Td (fsetting.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 478.50 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 478.50 Td (Represents cash collateral and cash mar) Tj ET Q q 0 0 0 rg BT 268.26 478.50 Td (gin that is not subject to of) Tj ET Q q 0 0 0 rg BT 390.71 478.50 Td (fsetting. ) Tj ET Q q 0 0 0 rg BT 430.32 478.50 Td (Amounts relate to non-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 464.70 Td (derivative instruments, derivatives qualifying for scope exceptions, or collateral and mar) Tj ET Q q 0 0 0 rg BT 492.78 464.70 Td (gin posted in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 450.90 Td (excess of the recognized derivative instrument. ) Tj ET Q q 0 0 0 rg BT 307.12 450.90 Td (Amounts include cash collateral received from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 437.10 Td (counterparties of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 165.97 437.10 Td ($3,521) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 197.59 437.10 Td ( and cash mar) Tj ET Q q 0 0 0 rg BT 260.93 437.10 Td (gin provided to counterparties of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 414.54 437.10 Td ($300) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 437.54 437.10 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 409.50 Td (Cr) Tj ET Q q 0 0 0 rg BT 62.70 409.50 Td (edit Risk and Cr) Tj ET Q q 0 0 0 rg BT 143.97 409.50 Td (edit Related Contingent Featur) Tj ET Q q 0 0 0 rg BT 296.76 409.50 Td (es) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 395.70 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 381.90 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 381.90 Td (e are exposed to losses in the event of nonperformance or nonpayment by counterparties and have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (risk management contracts with many counterparties. ) Tj ET Q q 0 0 0 rg BT 300.51 368.10 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 328.62 368.10 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 401.76 368.10 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 449.78 368.10 Td (W) Tj ET Q q 0 0 0 rg BT 459.71 368.10 Td (est has no ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.30 Td (counterparties with positive exposures of greater than 10% of risk management assets. Our risk management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.50 Td (process assesses and monitors the financial exposure of all counterparties. Despite the fact that the great ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 326.70 Td (majority of our trading counterparties' debt is rated as investment grade by the credit rating agencies, there is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 312.90 Td (still a possibility that one or more of these counterparties could default, resulting in a material impact on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.10 Td (consolidated earnings for a given period. Counterparties in the portfolio consist principally of financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.30 Td (institutions, major ener) Tj ET Q q 0 0 0 rg BT 155.65 285.30 Td (gy companies, municipalities and local distribution companies. ) Tj ET Q q 0 0 0 rg BT 451.20 285.30 Td (W) Tj ET Q q 0 0 0 rg BT 461.13 285.30 Td (e maintain credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 271.50 Td (policies that we believe minimize overall credit risk to within acceptable limits. Determination of the credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 257.70 Td (quality of our counterparties is based upon a number of factors, including credit ratings and our evaluation of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 243.90 Td (their financial condition. ) Tj ET Q q 0 0 0 rg BT 168.41 243.90 Td (T) Tj ET Q q 0 0 0 rg BT 174.63 243.90 Td (o manage credit risk, we employ collateral requirements and standardized ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.10 Td (agreements that allow for the netting of positive and negative exposures associated with a single counterparty) Tj ET Q q 0 0 0 rg BT 552.38 230.10 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.30 Td (V) Tj ET Q q 0 0 0 rg BT 56.53 216.30 Td (aluation adjustments are established representing our estimated credit losses on our overall exposure to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.50 Td (counterparties.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 188.70 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 174.90 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 49.50 161.10 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 49.50 147.30 Td (adequate assurance provisions. ) Tj ET Q q 0 0 0 rg BT 196.72 147.30 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 49.50 133.50 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 49.50 119.70 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 49.50 105.95 Td (could demand additional collateral if our debt credit rating were to fall below investment grade \(below BBB- ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 92.15 Td (for Standard& Poor) Tj ET Q q 0 0 0 rg BT 143.51 92.15 Td () Tj ET Q q 0 0 0 rg BT 146.71 92.15 Td (s or Fitch or Baa3 for Moody) Tj ET Q q 0 0 0 rg BT 284.69 92.15 Td (s\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 78.35 Td () Tj ET Q endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (39) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.55 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 49.50 693.75 Td (contingent features at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 151.36 693.75 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.50 693.75 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 659.25 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 659.25 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 629.25 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 629.25 78.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 659.25 m 563 659.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 659.25 m 563 659.25 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 663.93 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.40 663.93 Td (Mar) Tj ET Q q 0 0 0 rg BT 509.10 663.93 Td (ch 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 648.92 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 487.50 648.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 648.92 Td (1) Tj ET Q q 0 0 0 rg BT 531.65 648.92 Td (18,444) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 633.92 Td (Cash collateral posted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 633.92 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 618.92 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 526.65 618.92 Td (1) Tj ET Q q 0 0 0 rg BT 531.65 618.92 Td (1) Tj ET Q q 0 0 0 rg BT 536.65 618.92 Td (1,223) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 587.15 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 587.15 Td (This amount is after counterparty netting and includes those contracts which qualify for scope ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 573.35 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 85.50 559.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 545.75 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 545.75 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 545.75 Td (e also have ener) Tj ET Q q 0 0 0 rg BT 168.98 545.75 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 49.50 531.95 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 482.55 531.95 Td ($94 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 535.90 531.95 Td ( if ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.15 Td (our debt credit ratings were to fall below investment grade.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 490.55 Td (8) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 55.25 490.55 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 490.55 Td (Commitments and Contingencies) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 248.42 490.55 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 476.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 462.95 Td (Palo ) Tj ET Q q 0 0 0 rg BT 73.89 462.95 Td (V) Tj ET Q q 0 0 0 rg BT 81.14 462.95 Td (erde Generating Station) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 435.35 Td (Spent Nuclear) Tj ET Q q 0 0 0 rg BT 155.25 435.35 Td ( Fuel and ) Tj ET Q q 0 0 0 rg BT 203.93 435.35 Td (W) Tj ET Q q 0 0 0 rg BT 214.79 435.35 Td (aste Disposal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 421.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 407.75 Td (On December19, 2012, ) Tj ET Q q 0 0 0 rg BT 197.92 407.75 Td (APS, acting on behalf of itself and the participant owners of Palo ) Tj ET Q q 0 0 0 rg BT 500.16 407.75 Td (V) Tj ET Q q 0 0 0 rg BT 507.19 407.75 Td (erde, filed a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 393.95 Td (second breach of contract lawsuit against the United States Department of Ener) Tj ET Q q 0 0 0 rg BT 414.30 393.95 Td (gy \("DOE"\) in the United ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.15 Td (States Court of Federal Claims \("Court of Federal Claims"\). ) Tj ET Q q 0 0 0 rg BT 331.13 380.15 Td (The lawsuit sought to recover damages incurred ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 366.35 Td (due to DOE) Tj ET Q q 0 0 0 rg BT 107.63 366.35 Td (s breach of the Contract for Disposal of Spent Nuclear Fuel and/or High Level Radioactive ) Tj ET Q q 0 0 0 rg BT 528.65 366.35 Td (W) Tj ET Q q 0 0 0 rg BT 538.59 366.35 Td (aste ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 352.55 Td (\("Standard Contract"\) for failing to accept Palo ) Tj ET Q q 0 0 0 rg BT 269.13 352.55 Td (V) Tj ET Q q 0 0 0 rg BT 276.16 352.55 Td (erde's spent nuclear fuel and high level waste from January1, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 338.75 Td (2007 through June30, 201) Tj ET Q q 0 0 0 rg BT 172.05 338.75 Td (1, as it was required to do pursuant to the terms of the Standard Contract and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 324.95 Td (Nuclear ) Tj ET Q q 0 0 0 rg BT 88.56 324.95 Td (W) Tj ET Q q 0 0 0 rg BT 98.49 324.95 Td (aste Policy ) Tj ET Q q 0 0 0 rg BT 150.88 324.95 Td (Act. On ) Tj ET Q q 0 0 0 rg BT 192.41 324.95 Td (August 18, 2014, ) Tj ET Q q 0 0 0 rg BT 273.87 324.95 Td (APS and DOE entered into a settlement agreement, stipulating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.15 Td (to a dismissal of the lawsuit and payment of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 254.87 311.15 Td ($57.4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 316.85 311.15 Td ( by DOE to the Palo ) Tj ET Q q 0 0 0 rg BT 412.47 311.15 Td (V) Tj ET Q q 0 0 0 rg BT 419.50 311.15 Td (erde owners for certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 297.35 Td (specified costs incurred by Palo ) Tj ET Q q 0 0 0 rg BT 198.44 297.35 Td (V) Tj ET Q q 0 0 0 rg BT 205.47 297.35 Td (erde during the period January 1, 2007 through June 30, 201) Tj ET Q q 0 0 0 rg BT 482.90 297.35 Td (1. ) Tj ET Q q 0 0 0 rg BT 496.64 297.35 Td (APS) Tj ET Q q 0 0 0 rg BT 520.94 297.35 Td (s share ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 283.55 Td (of this amount is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 129.36 283.55 Td ($16.7 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 191.34 283.55 Td (. ) Tj ET Q q 0 0 0 rg BT 199.33 283.55 Td (Amounts recovered in the lawsuit and settlement were recorded as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 269.15 Td (adjustments to a regulatory liability and had no impact on the amount of reported net income. ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 485.12 269.15 Td (In addition, the ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 49.50 254.75 Td (settlement agreement, as amended, provides ) Tj ET Q q 0 0 0 rg BT 263.76 254.75 Td (APS with a method for submitting claims and getting ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 49.50 240.35 Td (recovery for costs incurred through December 31, 2019.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 212.75 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 212.75 Td (APS has submitted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 175.91 212.75 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 198.90 212.75 Td ( claims pursuant to the terms of the ) Tj ET Q q 0 0 0 rg BT 363.06 212.75 Td (August 18, 2014 settlement agreement, for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 198.95 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.48 198.95 Td ( separate time periods during July 1, 201) Tj ET Q q 0 0 0 rg BT 259.22 198.95 Td (1 through June 30, 2016. ) Tj ET Q q 0 0 0 rg BT 379.11 198.95 Td (The DOE has approved and paid ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.40 198.95 Td ($65.2 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 185.15 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 185.15 Td ( for these claims \(APS) Tj ET Q q 0 0 0 rg BT 189.41 185.15 Td (s share is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 234.44 185.15 Td ($19 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 287.80 185.15 Td (\). ) Tj ET Q q 0 0 0 rg BT 302.92 185.15 Td (The amounts recovered were primarily recorded as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 171.35 Td (adjustments to a regulatory liability and had no impact on reported net income. In accordance with the 2017 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 157.55 Td (Rate Case Decision, this regulatory liability is being refunded to customers \(see Note 4\). ) Tj ET Q q 0 0 0 rg BT 461.82 157.55 Td (APS's next claim ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 143.75 Td (pursuant to the terms of the ) Tj ET Q q 0 0 0 rg BT 177.90 143.75 Td (August 18, 2014 settlement agreement was submitted to the DOE in the fourth ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 129.95 Td (quarter of 2017 in the amount of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 201.84 129.95 Td ($9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 249.44 129.95 Td ( \(APS's share is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 324.35 129.95 Td ($2.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.58 129.95 Td (\). In February 2018, the DOE ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 116.15 Td (approved this claim, and in March 2018, the DOE paid this claim. ) Tj ET Q q 0 0 0 rg BT 358.45 116.15 Td (The amounts recovered were primarily ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 102.35 Td (recorded as adjustments to a regulatory liability and had no impact on reported net income.) Tj ET Q endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (40) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 712.25 Td (Nuclear) Tj ET Q q 0 0 0 rg BT 124.25 712.25 Td ( Insurance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.45 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 684.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.65 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 49.50 670.85 Td (Industries Indemnity ) Tj ET Q q 0 0 0 rg BT 147.24 670.85 Td (Act \("Price-Anderson ) Tj ET Q q 0 0 0 rg BT 249.66 670.85 Td (Act"\), 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 49.50 657.05 Td (amount of insurance available from both commercial sources and an industry-wide retrospective payment plan. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.25 Td (In accordance with the Price-Anderson ) Tj ET Q q 0 0 0 rg BT 231.20 643.25 Td (Act, the Palo ) Tj ET Q q 0 0 0 rg BT 293.59 643.25 Td (V) Tj ET Q q 0 0 0 rg BT 300.62 643.25 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 49.50 629.45 Td (nuclear incident up to approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 221.63 629.45 Td ($13.2 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 280.41 629.45 Td ( per occurrence. Palo ) Tj ET Q q 0 0 0 rg BT 383.01 629.45 Td (V) Tj ET Q q 0 0 0 rg BT 390.04 629.45 Td (erde maintains the maximum ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.65 Td (available nuclear liability insurance in the amount of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.75 615.65 Td ($450 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.85 615.65 Td (, which is provided by ) Tj ET Q q 0 0 0 rg BT 458.63 615.65 Td (American Nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.85 Td (Insurers \("ANI"\). ) Tj ET Q q 0 0 0 rg BT 135.32 601.85 Td (The remaining balance of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.32 601.85 Td ($12.7 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 384.10 601.85 Td ( of liability coverage is provided ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 588.05 Td (through a mandatory industry-wide retrospective premium program. If losses at any nuclear power plant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.25 Td (covered by the program exceed the accumulated funds, ) Tj ET Q q 0 0 0 rg BT 305.27 574.25 Td (APS could be responsible for retrospective premiums. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.45 Td (The maximum retrospective premium per reactor under the program for each nuclear liability incident is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.65 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 546.65 Td ($127.3 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 186.53 546.65 Td (, subject to a maximum annual premium of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.42 546.65 Td ($19 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 440.77 546.65 Td ( per incident. Based on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.85 Td (APS) Tj ET Q q 0 0 0 rg BT 73.79 532.85 Td (s ownership interest in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 197.40 532.85 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 220.38 532.85 Td ( Palo ) Tj ET Q q 0 0 0 rg BT 246.37 532.85 Td (V) Tj ET Q q 0 0 0 rg BT 253.40 532.85 Td (erde units, ) Tj ET Q q 0 0 0 rg BT 303.55 532.85 Td (APS) Tj ET Q q 0 0 0 rg BT 327.84 532.85 Td (s maximum retrospective premium per incident for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 519.05 Td (all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 63.87 519.05 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 86.85 519.05 Td ( units is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 194.82 519.05 Td ($1) Tj ET Q q 0 0 0 rg BT 205.89 519.05 Td (1) Tj ET Q q 0 0 0 rg BT 211.21 519.05 Td (1.1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 261.69 519.05 Td (, with a maximum annual retrospective premium of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.25 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 505.25 Td ($16.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 180.78 505.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 491.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 477.65 Td (The Palo ) Tj ET Q q 0 0 0 rg BT 129.37 477.65 Td (V) Tj ET Q q 0 0 0 rg BT 136.40 477.65 Td (erde participants maintain insurance for property damage to, and decontamination of, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.85 Td (property at Palo ) Tj ET Q q 0 0 0 rg BT 125.62 463.85 Td (V) Tj ET Q q 0 0 0 rg BT 132.65 463.85 Td (erde in the aggregate amount of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 281.45 463.85 Td ($2.8 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 334.48 463.85 Td (. ) Tj ET Q q 0 0 0 rg BT 342.48 463.85 Td (APS has also secured accidental outage ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 450.05 Td (insurance for a sudden and unforeseen accidental outage of any of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.29 450.05 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 396.27 450.05 Td ( units. ) Tj ET Q q 0 0 0 rg BT 429.93 450.05 Td (The property damage, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (decontamination, and accidental outage insurance are provided by Nuclear Electric Insurance Limited ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.45 Td (\("NEIL"\). ) Tj ET Q q 0 0 0 rg BT 100.72 422.45 Td (APS is subject to retrospective premium adjustments under all NEIL) Tj ET Q q 0 0 0 rg BT 416.17 422.45 Td ( policies if NEIL) Tj ET Q q 0 0 0 rg BT 492.72 422.45 Td () Tj ET Q q 0 0 0 rg BT 495.92 422.45 Td (s losses in any ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.65 Td (policy year exceed accumulated funds. ) Tj ET Q q 0 0 0 rg BT 233.53 408.65 Td (The maximum amount ) Tj ET Q q 0 0 0 rg BT 340.53 408.65 Td (APS could incur under the current NEIL) Tj ET Q q 0 0 0 rg BT 526.62 408.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.85 Td (policies totals approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 185.24 394.85 Td ($24.8 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 247.21 394.85 Td ( for each retrospective premium assessment declared by NEIL) Tj ET Q q 0 0 0 rg BT 532.27 394.85 Td () Tj ET Q q 0 0 0 rg BT 535.47 394.85 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 381.05 Td (Board of Directors due to losses. In addition, NEIL) Tj ET Q q 0 0 0 rg BT 287.65 381.05 Td ( policies contain rating triggers that would result in ) Tj ET Q q 0 0 0 rg BT 524.96 381.05 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.25 Td (providing approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 166.39 367.25 Td ($71.2 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 228.37 367.25 Td ( of collateral assurance within ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.19 367.25 Td (20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.69 367.25 Td ( business days of a rating downgrade to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.45 Td (non-investment grade. ) Tj ET Q q 0 0 0 rg BT 157.88 353.45 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 49.50 339.65 Td (certain policy conditions, sublimits and exclusions.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 312.05 Td (Contractual Obligations) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 284.45 Td (There have been no material changes, as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 286.98 284.45 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 360.12 284.45 Td (, outside the normal course of business in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.65 Td (contractual obligations from the information provided in our 2017 Form 10-K. See Note 3 for discussion ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.85 Td (regarding changes in our long-term debt obligations.) Tj ET Q endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (41) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (Superfund-Related Matters) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.65 Td (The Comprehensive Environmental Response Compensation and Liability ) Tj ET Q q 0 0 0 rg BT 430.13 684.65 Td (Act \("Superfund" or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td ("CERCLA"\) establishes liability for the cleanup of hazardous substances found contaminating the soil, water ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 657.05 Td (or air) Tj ET Q q 0 0 0 rg BT 73.45 657.05 Td (. ) Tj ET Q q 0 0 0 rg BT 81.87 657.05 Td (Those who generated, transported or disposed of hazardous substances at a contaminated site are among ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.25 Td (those who are potentially responsible parties \("PRPs"\). PRPs may be strictly) Tj ET Q q 0 0 0 rg BT 403.11 643.25 Td (, and often are jointly and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.45 Td (severally) Tj ET Q q 0 0 0 rg BT 90.26 629.45 Td (, liable for clean-up. On September3, 2003, EP) Tj ET Q q 0 0 0 rg BT 310.53 629.45 Td (A) Tj ET Q q 0 0 0 rg BT 318.20 629.45 Td ( advised ) Tj ET Q q 0 0 0 rg BT 358.45 629.45 Td (APS that EP) Tj ET Q q 0 0 0 rg BT 414.90 629.45 Td (A) Tj ET Q q 0 0 0 rg BT 422.57 629.45 Td ( considers ) Tj ET Q q 0 0 0 rg BT 471.13 629.45 Td (APS to be a PRP) Tj ET Q q 0 0 0 rg BT 548.66 629.45 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.65 Td (the Motorola 52) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 123.60 620.86 Td (nd) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 131.07 615.65 Td (Street Superfund Site, Operable Unit 3 \("OU3"\) in Phoenix, ) Tj ET Q q 0 0 0 rg BT 411.96 615.65 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 456.98 615.65 Td (APS has facilities that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.85 Td (are within this Superfund site. ) Tj ET Q q 0 0 0 rg BT 192.92 601.85 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 278.64 601.85 Td (W) Tj ET Q q 0 0 0 rg BT 288.57 601.85 Td (est have agreed with EP) Tj ET Q q 0 0 0 rg BT 398.01 601.85 Td (A) Tj ET Q q 0 0 0 rg BT 405.68 601.85 Td ( to perform certain investigative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 588.05 Td (activities of the ) Tj ET Q q 0 0 0 rg BT 122.64 588.05 Td (APS facilities within OU3. In addition, on September23, 2009, ) Tj ET Q q 0 0 0 rg BT 420.02 588.05 Td (APS agreed with EP) Tj ET Q q 0 0 0 rg BT 513.20 588.05 Td (A) Tj ET Q q 0 0 0 rg BT 520.87 588.05 Td ( and one ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.25 Td (other PRP) Tj ET Q q 0 0 0 rg BT 96.04 574.25 Td ( to voluntarily assist with the funding and management of the site-wide groundwater remedial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.45 Td (investigation and feasibility study \("RI/FS"\). Based upon discussions between the OU3 working group parties ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.65 Td (and EP) Tj ET Q q 0 0 0 rg BT 81.34 546.65 Td (A, along with the results of recent technical analyses prepared by the OU3 working group to supplement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.85 Td (the RI/FS, ) Tj ET Q q 0 0 0 rg BT 99.03 532.85 Td (APS anticipates finalizing the RI/FS in the spring of 2019. ) Tj ET Q q 0 0 0 rg BT 373.52 532.85 Td (W) Tj ET Q q 0 0 0 rg BT 383.46 532.85 Td (e estimate that our costs related to this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 519.05 Td (investigation and study will be approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 262.86 519.05 Td ($2 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 310.46 519.05 Td (. ) Tj ET Q q 0 0 0 rg BT 318.88 519.05 Td (W) Tj ET Q q 0 0 0 rg BT 328.81 519.05 Td (e anticipate incurring additional expenditures in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.25 Td (the future, but because the overall investigation is not complete and ultimate remediation requirements are not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.45 Td (yet finalized, at the present time expenditures related to this matter cannot be reasonably estimated.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 477.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 463.85 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 463.85 Td (August6, 2013, the Roosevelt Irrigation District \("RID"\) filed a lawsuit in ) Tj ET Q q 0 0 0 rg BT 446.56 463.85 Td (Arizona District Court ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 450.05 Td (against ) Tj ET Q q 0 0 0 rg BT 84.32 450.05 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 127.77 450.05 Td (24) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.27 450.05 Td ( other defendants, alleging that RID) Tj ET Q q 0 0 0 rg BT 307.25 450.05 Td (s groundwater wells were contaminated by the release ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (of hazardous substances from facilities owned or operated by the defendants. ) Tj ET Q q 0 0 0 rg BT 409.19 436.25 Td (The lawsuit also alleges that, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.45 Td (under Superfund laws, the defendants are jointly and severally liable to RID. ) Tj ET Q q 0 0 0 rg BT 407.93 422.45 Td (The allegations against ) Tj ET Q q 0 0 0 rg BT 516.20 422.45 Td (APS arise ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.65 Td (out of ) Tj ET Q q 0 0 0 rg BT 78.89 408.65 Td (APS) Tj ET Q q 0 0 0 rg BT 103.18 408.65 Td (s current and former ownership of facilities in and around OU3. ) Tj ET Q q 0 0 0 rg BT 401.79 408.65 Td (As part of a state governmental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.85 Td (investigation into groundwater contamination in this area, on January 25, 2015, the ) Tj ET Q q 0 0 0 rg BT 433.72 394.85 Td (Arizona Department of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 381.05 Td (Environmental Quality \("ADEQ"\) sent a letter to ) Tj ET Q q 0 0 0 rg BT 277.02 381.05 Td (APS seeking information concerning the degree to which, if ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.25 Td (any) Tj ET Q q 0 0 0 rg BT 65.36 367.25 Td (, ) Tj ET Q q 0 0 0 rg BT 70.47 367.25 Td (APS) Tj ET Q q 0 0 0 rg BT 94.77 367.25 Td (s current and former ownership of these facilities may have contributed to groundwater ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.45 Td (contamination in this area. ) Tj ET Q q 0 0 0 rg BT 176.61 353.45 Td (APS responded to ) Tj ET Q q 0 0 0 rg BT 261.91 353.45 Td (ADEQ on May 4, 2015. On December 16, 2016, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 491.23 353.45 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 508.48 353.45 Td ( RID ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.65 Td (contractors filed an ancillary lawsuit for recovery of costs against ) Tj ET Q q 0 0 0 rg BT 352.87 339.65 Td (APS and the other defendants in the RID ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.85 Td (litigation. ) Tj ET Q q 0 0 0 rg BT 99.44 325.85 Td (That same day) Tj ET Q q 0 0 0 rg BT 165.76 325.85 Td (, another party filed an ancillary lawsuit against certain of the defendants in the main ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 312.05 Td (RID litigation, but excluded ) Tj ET Q q 0 0 0 rg BT 180.78 312.05 Td (APS and certain other parties as named defendants. Because the ancillary lawsuits ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.25 Td (concern past costs allegedly incurred by these RID vendors, which were ruled unrecoverable directly by RID ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.45 Td (in November of 2016, the additional lawsuits do not increase ) Tj ET Q q 0 0 0 rg BT 332.16 284.45 Td (APS's exposure or risk related to these matters. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 256.85 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 256.85 Td (April 5, 2018, RID and the defendants in that particular litigation executed a settlement agreement, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 243.05 Td (fully resolving RID's CERCLA) Tj ET Q q 0 0 0 rg BT 193.73 243.05 Td ( claims concerning both past and future cost recovery) Tj ET Q q 0 0 0 rg BT 438.87 243.05 Td (. ) Tj ET Q q 0 0 0 rg BT 446.87 243.05 Td (APS's share of this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.25 Td (settlement was immaterial. In addition, the two vendors voluntarily dismissed their lawsuit against ) Tj ET Q q 0 0 0 rg BT 507.52 229.25 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.45 Td (the other named defendants without prejudice. ) Tj ET Q q 0 0 0 rg BT 267.94 215.45 Td (An order to this ef) Tj ET Q q 0 0 0 rg BT 352.04 215.45 Td (fect was entered on ) Tj ET Q q 0 0 0 rg BT 443.37 215.45 Td (April 17, 2018. ) Tj ET Q q 0 0 0 rg BT 519.19 215.45 Td (W) Tj ET Q q 0 0 0 rg BT 529.58 215.45 Td (ith this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.65 Td (disposition of the case, the vendors may file their lawsuit again in the future. In addition, ) Tj ET Q q 0 0 0 rg BT 462.77 201.65 Td (APS and certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.85 Td (other parties not named in the remaining lawsuit may be brought into the litigation via third-party complaints ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 174.05 Td (filed by the current direct defendants. ) Tj ET Q q 0 0 0 rg BT 227.47 174.05 Td (W) Tj ET Q q 0 0 0 rg BT 237.41 174.05 Td (e are unable to predict the outcome of these matters; however) Tj ET Q q 0 0 0 rg BT 519.87 174.05 Td (, we do ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.25 Td (not expect the outcome to have a material impact on our financial position, results of operations or cash flows. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 146.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 132.65 Td (Envir) Tj ET Q q 0 0 0 rg BT 77.41 132.65 Td (onmental Matters) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 105.05 Td (APS is subject to numerous environmental laws and regulations af) Tj ET Q q 0 0 0 rg BT 390.95 105.05 Td (fecting many aspects of its present ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.25 Td (and future operations, including air emissions of both conventional pollutants and greenhouse gases, water ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.45 Td (quality) Tj ET Q q 0 0 0 rg BT 80.69 77.45 Td (, wastewater dischar) Tj ET Q q 0 0 0 rg BT 174.04 77.45 Td (ges, solid waste, hazardous waste, and coal combustion residuals \("CCRs"\). ) Tj ET Q q 0 0 0 rg BT 528.49 77.45 Td (These ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.65 Td (laws and regulations can change from time to time, imposing new obligations on ) Tj ET Q q 0 0 0 rg BT 423.19 63.65 Td (APS resulting in increased ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.85 Td (capital, operating, and other costs. ) Tj ET Q q 0 0 0 rg BT 212.05 49.85 Td (Associated capital expenditures or operating costs could be material. ) Tj ET Q q 0 0 0 rg BT 533.00 49.85 Td (APS ) Tj ET Q endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (42) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (intends to seek recovery of any such environmental compliance costs through our rates, but cannot predict ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (whether it will obtain such recovery) Tj ET Q q 0 0 0 rg BT 214.50 698.25 Td (. ) Tj ET Q q 0 0 0 rg BT 222.91 698.25 Td (The following proposed and final rulesinvolve material compliance costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (to ) Tj ET Q q 0 0 0 rg BT 60.69 684.45 Td (APS.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 670.65 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 656.85 Td (Regional Haze Rules.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 188.05 656.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.93 656.85 Td ( ) Tj ET Q q 0 0 0 rg BT 193.17 656.85 Td (APS has received the final rulemaking imposing new pollution control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (requirements on Four Corners and the Navajo Plant. EP) Tj ET Q q 0 0 0 rg BT 307.79 643.05 Td (A) Tj ET Q q 0 0 0 rg BT 315.46 643.05 Td ( will require these plants to install pollution control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (equipment that constitutes best available retrofit technology \("BAR) Tj ET Q q 0 0 0 rg BT 359.14 629.25 Td (T"\) to lessen the impacts of emissions on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (visibility surrounding the plants. In addition, EP) Tj ET Q q 0 0 0 rg BT 273.01 615.45 Td (A) Tj ET Q q 0 0 0 rg BT 280.68 615.45 Td ( has issued a final rule for Regional Haze compliance at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (Cholla that does not involve the installation of new pollution controls and that will replace an earlier BAR) Tj ET Q q 0 0 0 rg BT 537.14 601.65 Td (T) Tj ET Q q 0 0 0 rg BT 543.96 601.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (determination for this facility) Tj ET Q q 0 0 0 rg BT 183.84 587.85 Td (. See below for details of the Cholla BAR) Tj ET Q q 0 0 0 rg BT 377.98 587.85 Td (T) Tj ET Q q 0 0 0 rg BT 384.80 587.85 Td ( approval.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 560.25 Td (Four Corners. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.70 560.25 Td (Based on EP) Tj ET Q q 0 0 0 rg BT 215.42 560.25 Td (A) Tj ET Q q 0 0 0 rg BT 222.45 560.25 Td () Tj ET Q q 0 0 0 rg BT 225.65 560.25 Td (s final standards, ) Tj ET Q q 0 0 0 rg BT 305.50 560.25 Td (APS's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 336.02 560.25 Td (63%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 357.10 560.25 Td ( share of the cost of required controls for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (Four Corners Units 4 and 5 is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 257.76 546.45 Td ($400 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 316.86 546.45 Td (. In addition, ) Tj ET Q q 0 0 0 rg BT 380.74 546.45 Td (APS and El Paso Electric Company ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (\("El Paso"\) entered into an asset purchase agreement providing for the purchase by ) Tj ET Q q 0 0 0 rg BT 433.48 532.65 Td (APS, or an af) Tj ET Q q 0 0 0 rg BT 495.24 532.65 Td (filiate of ) Tj ET Q q 0 0 0 rg BT 536.75 532.65 Td (APS, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (of El Paso's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 106.20 518.85 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.53 518.85 Td ( interest in Four Corners Units 4 and 5. 4CA) Tj ET Q q 0 0 0 rg BT 328.20 518.85 Td ( purchased the El Paso interest on July 6, 2016. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (Navajo ) Tj ET Q q 0 0 0 rg BT 85.38 505.05 Td (T) Tj ET Q q 0 0 0 rg BT 92.00 505.05 Td (ransitional Ener) Tj ET Q q 0 0 0 rg BT 164.92 505.05 Td (gy Company) Tj ET Q q 0 0 0 rg BT 223.27 505.05 Td (, LLC \("NTEC"\) has the option to purchase the interest within a certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (timeframe pursuant to an option granted to NTEC. In December 2015, NTEC notified ) Tj ET Q q 0 0 0 rg BT 449.99 491.25 Td (APS of its intent to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (exercise the option. ) Tj ET Q q 0 0 0 rg BT 144.78 477.45 Td (The purchase did not occur during the originally contemplated timeframe. See "Four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (Corners Coal Supply ) Tj ET Q q 0 0 0 rg BT 148.21 463.65 Td (Agreement - 4CA) Tj ET Q q 0 0 0 rg BT 229.97 463.65 Td ( Matter" below for a discussion of the current status of the NTEC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (purchase. ) Tj ET Q q 0 0 0 rg BT 98.79 449.85 Td (The cost of the pollution controls related to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 317.56 449.85 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 332.89 449.85 Td ( interest is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 452.33 449.85 Td ($45 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 505.68 449.85 Td (, which will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (be assumed by the ultimate owner of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.56 436.05 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 253.89 436.05 Td ( interest. ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 408.45 Td (Navajo Plant. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 155.14 408.45 Td (APS estimates that its share of costs for upgrades at the Navajo Plant, based on EP) Tj ET Q q 0 0 0 rg BT 534.16 408.45 Td (A) Tj ET Q q 0 0 0 rg BT 541.19 408.45 Td () Tj ET Q q 0 0 0 rg BT 544.38 408.45 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (Federal Implementation Plan \("FIP"\), could be up to approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.94 394.65 Td ($200 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 422.04 394.65 Td (; however) Tj ET Q q 0 0 0 rg BT 467.24 394.65 Td (, given the future ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (plans for the Navajo Plant, we do not expect to incur these costs. See "Navajo Plant" in Note 4 for information ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (regarding future plans for the Navajo Plant.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 339.45 Td (Cholla) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 116.81 339.45 Td (. ) Tj ET Q q 0 0 0 rg BT 124.80 339.45 Td (APS believed that EP) Tj ET Q q 0 0 0 rg BT 223.09 339.45 Td (A) Tj ET Q q 0 0 0 rg BT 230.12 339.45 Td () Tj ET Q q 0 0 0 rg BT 233.31 339.45 Td (s original 2012 final ruleestablishing controls constituting BAR) Tj ET Q q 0 0 0 rg BT 527.77 339.45 Td (T) Tj ET Q q 0 0 0 rg BT 534.58 339.45 Td ( for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (Cholla, which would require installation of SCR controls, was unsupported and that EP) Tj ET Q q 0 0 0 rg BT 450.26 325.65 Td (A) Tj ET Q q 0 0 0 rg BT 457.93 325.65 Td ( had no basis for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (disapproving ) Tj ET Q q 0 0 0 rg BT 111.79 311.85 Td (Arizona) Tj ET Q q 0 0 0 rg BT 152.03 311.85 Td (s State Implementation Plan \("SIP"\) and promulgating a FIP) Tj ET Q q 0 0 0 rg BT 429.30 311.85 Td ( that was inconsistent with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (the state) Tj ET Q q 0 0 0 rg BT 90.70 298.05 Td (s considered BAR) Tj ET Q q 0 0 0 rg BT 173.69 298.05 Td (T) Tj ET Q q 0 0 0 rg BT 180.51 298.05 Td ( determinations under the regional haze program. In September 2014, ) Tj ET Q q 0 0 0 rg BT 505.29 298.05 Td (APS met ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (with EP) Tj ET Q q 0 0 0 rg BT 85.19 284.25 Td (A) Tj ET Q q 0 0 0 rg BT 92.86 284.25 Td ( to propose a compromise BAR) Tj ET Q q 0 0 0 rg BT 237.50 284.25 Td (T) Tj ET Q q 0 0 0 rg BT 244.31 284.25 Td ( strategy) Tj ET Q q 0 0 0 rg BT 282.85 284.25 Td (. ) Tj ET Q q 0 0 0 rg BT 290.84 284.25 Td (APS would permanently close Cholla Unit 2 and cease ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (burning coal at Units 1 and 3 by the mid-2020s. \(See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 323.54 270.45 Td (4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 329.29 270.45 Td ( for details related to the resulting regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (asset.\) ) Tj ET Q q 0 0 0 rg BT 83.68 256.65 Td (APS made the proposal with the understanding that additional emission control equipment is unlikely ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (to be required in the future because retiring and/or converting the units as contemplated in the proposal is more ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (cost ef) Tj ET Q q 0 0 0 rg BT 79.63 229.05 Td (fective than, and will result in increased visibility improvement over) Tj ET Q q 0 0 0 rg BT 394.06 229.05 Td (, the current BAR) Tj ET Q q 0 0 0 rg BT 475.13 229.05 Td (T) Tj ET Q q 0 0 0 rg BT 481.95 229.05 Td ( requirements for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (NOx imposed on the Cholla units under EP) Tj ET Q q 0 0 0 rg BT 248.09 215.25 Td (A's BAR) Tj ET Q q 0 0 0 rg BT 288.77 215.25 Td (T) Tj ET Q q 0 0 0 rg BT 295.59 215.25 Td ( FIP) Tj ET Q q 0 0 0 rg BT 313.81 215.25 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 187.65 Td (On October 16, 2015, ) Tj ET Q q 0 0 0 rg BT 187.71 187.65 Td (ADEQ issued a revised operating permit for Cholla, which incorporates ) Tj ET Q q 0 0 0 rg BT 520.17 187.65 Td (APS's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (proposal, and subsequently submitted a proposed revision to the SIP) Tj ET Q q 0 0 0 rg BT 363.38 173.85 Td ( to EP) Tj ET Q q 0 0 0 rg BT 390.44 173.85 Td (A, which would incorporate the new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (permit terms. On June 30, 2016, EP) Tj ET Q q 0 0 0 rg BT 215.82 160.05 Td (A) Tj ET Q q 0 0 0 rg BT 223.49 160.05 Td ( issued a proposed rule approving a revision to the ) Tj ET Q q 0 0 0 rg BT 457.28 160.05 Td (Arizona SIP) Tj ET Q q 0 0 0 rg BT 513.39 160.05 Td ( that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (incorporates ) Tj ET Q q 0 0 0 rg BT 108.58 146.25 Td (APS) Tj ET Q q 0 0 0 rg BT 132.87 146.25 Td (s compromise approach for compliance with the Regional Haze program. In early 2017, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (EP) Tj ET Q q 0 0 0 rg BT 61.87 132.45 Td (A) Tj ET Q q 0 0 0 rg BT 69.54 132.45 Td ( approved a final rule incorporating ) Tj ET Q q 0 0 0 rg BT 234.95 132.45 Td (APS's compromise proposal, which took ef) Tj ET Q q 0 0 0 rg BT 433.58 132.45 Td (fect for Cholla on ) Tj ET Q q 0 0 0 rg BT 517.25 132.45 Td (April 26, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (2017. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 104.85 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 91.05 Td (Coal Combustion ) Tj ET Q q 0 0 0 rg BT 170.93 91.05 Td (W) Tj ET Q q 0 0 0 rg BT 180.30 91.05 Td (aste) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.83 91.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 201.70 91.05 Td ( On December 19, 2014, EP) Tj ET Q q 0 0 0 rg BT 332.87 91.05 Td (A) Tj ET Q q 0 0 0 rg BT 340.54 91.05 Td ( issued its final regulations governing the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (handling and disposal of CCR, such as fly ash and bottom ash. ) Tj ET Q q 0 0 0 rg BT 342.84 77.25 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 63.45 Td (waste under Subtitle D of the Resource Conservation and Recovery ) Tj ET Q q 0 0 0 rg BT 362.48 63.45 Td (Act \("RCRA"\) and establishes national ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.65 Td (minimum criteria for existing and new CCR landfills and surface impoundments and all lateral expansions ) Tj ET Q endstream endobj 91 0 obj <> endobj 92 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (43) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (consisting of location restrictions, design and operating criteria, groundwater monitoring and corrective action, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (closure requirements and post closure care, and recordkeeping, notification, and internet posting requirements. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (The rule generally requires any existing unlined CCR surface impoundment that is contaminating groundwater ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (above a regulated constituent) Tj ET Q q 0 0 0 rg BT 187.13 670.65 Td (s groundwater protection standard to stop receiving CCR and either retrofit or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (close, and further requires the closure of any CCR landfill or surface impoundment that cannot meet the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (applicable performance criteria for location restrictions or structural integrity) Tj ET Q q 0 0 0 rg BT 403.20 643.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 619.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 619.25 Td (On December 16, 2016, President Obama signed the ) Tj ET Q q 0 0 0 rg BT 329.93 619.25 Td (W) Tj ET Q q 0 0 0 rg BT 339.86 619.25 Td (ater Infrastructure Improvements for the Nation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 605.45 Td (\("WIIN"\) ) Tj ET Q q 0 0 0 rg BT 95.61 605.45 Td (Act into law) Tj ET Q q 0 0 0 rg BT 151.71 605.45 Td (, which contains a number of provisions requiring EP) Tj ET Q q 0 0 0 rg BT 396.27 605.45 Td (A) Tj ET Q q 0 0 0 rg BT 403.94 605.45 Td ( to modify the self-implementing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 591.65 Td (provisions of the ) Tj ET Q q 0 0 0 rg BT 129.04 591.65 Td (Agency's current CCR rules under Subtitle D. Such modifications include new EP) Tj ET Q q 0 0 0 rg BT 508.54 591.65 Td (A) Tj ET Q q 0 0 0 rg BT 516.22 591.65 Td ( authority ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 577.85 Td (to directly enforce the CCR rules through the use of administrative orders and providing states, like ) Tj ET Q q 0 0 0 rg BT 509.08 577.85 Td (Arizona, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 564.05 Td (where the Cholla facility is located, the option of developing CCR disposal unit permitting programs, subject ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 550.25 Td (to EP) Tj ET Q q 0 0 0 rg BT 73.69 550.25 Td (A) Tj ET Q q 0 0 0 rg BT 81.36 550.25 Td ( approval. For facilities in states that do not develop state-specific permitting programs, EP) Tj ET Q q 0 0 0 rg BT 501.88 550.25 Td (A) Tj ET Q q 0 0 0 rg BT 509.55 550.25 Td ( is required ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 536.45 Td (to develop a federal permit program, pending the availability of congressional appropriations. By contrast, for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 522.65 Td (facilities located within the boundaries of Native ) Tj ET Q q 0 0 0 rg BT 275.92 522.65 Td (American tribal reservations, such as the Navajo Nation, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 508.85 Td (where the Navajo Plant and Four Corners facilities are located, EP) Tj ET Q q 0 0 0 rg BT 354.06 508.85 Td (A) Tj ET Q q 0 0 0 rg BT 361.73 508.85 Td ( is required to develop a federal permit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 495.05 Td (program regardless of appropriated funds. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 467.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 467.45 Td (ADEQ has initiated a process to evaluate how to develop a state CCR permitting program that would ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 453.65 Td (cover electric generating units \("EGUs"\), including Cholla. ) Tj ET Q q 0 0 0 rg BT 327.58 453.65 Td (While ) Tj ET Q q 0 0 0 rg BT 357.92 453.65 Td (APS has been working with ) Tj ET Q q 0 0 0 rg BT 488.57 453.65 Td (ADEQ on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 439.85 Td (development of this program, we are unable to predict when ) Tj ET Q q 0 0 0 rg BT 328.93 439.85 Td (Arizona will be able to finalize and secure EP) Tj ET Q q 0 0 0 rg BT 538.63 439.85 Td (A) Tj ET Q q 0 0 0 rg BT 546.30 439.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 426.05 Td (approval for a state-specific CCR permitting program. ) Tj ET Q q 0 0 0 rg BT 304.46 426.05 Td (W) Tj ET Q q 0 0 0 rg BT 314.85 426.05 Td (ith respect to the Navajo Nation, ) Tj ET Q q 0 0 0 rg BT 466.55 426.05 Td (APS has sought ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 412.25 Td (clarification as to when and how EP) Tj ET Q q 0 0 0 rg BT 214.51 412.25 Td (A) Tj ET Q q 0 0 0 rg BT 222.18 412.25 Td ( would be initiating permit proceedings for facilities on the reservation, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 398.45 Td (including Four Corners. ) Tj ET Q q 0 0 0 rg BT 165.24 398.45 Td (W) Tj ET Q q 0 0 0 rg BT 175.18 398.45 Td (e are unable to predict at this time when EP) Tj ET Q q 0 0 0 rg BT 374.35 398.45 Td (A) Tj ET Q q 0 0 0 rg BT 382.03 398.45 Td ( will be issuing CCR management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 384.65 Td (permits for the facilities on the Navajo Nation. ) Tj ET Q q 0 0 0 rg BT 269.23 384.65 Td (At this time, it remains unclear how the CCR provisions of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 370.85 Td (WIIN ) Tj ET Q q 0 0 0 rg BT 78.56 370.85 Td (Act will af) Tj ET Q q 0 0 0 rg BT 127.53 370.85 Td (fect ) Tj ET Q q 0 0 0 rg BT 147.01 370.85 Td (APS and its management of CCR. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 343.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 343.25 Td (Based upon utility industry petitions for EP) Tj ET Q q 0 0 0 rg BT 284.41 343.25 Td (A) Tj ET Q q 0 0 0 rg BT 292.08 343.25 Td ( to reconsider the RCRA) Tj ET Q q 0 0 0 rg BT 405.15 343.25 Td ( Subtitle D regulations for CCR, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 329.45 Td (which were premised in part on the CCR provisions of the 2016 ) Tj ET Q q 0 0 0 rg BT 346.33 329.45 Td (WIIN ) Tj ET Q q 0 0 0 rg BT 375.39 329.45 Td (Act, on September 13, 2017 EP) Tj ET Q q 0 0 0 rg BT 519.67 329.45 Td (A) Tj ET Q q 0 0 0 rg BT 527.34 329.45 Td ( agreed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 315.65 Td (to evaluate whether to revise these federal CCR regulations. On March 1, 2018, EP) Tj ET Q q 0 0 0 rg BT 433.92 315.65 Td (A) Tj ET Q q 0 0 0 rg BT 441.59 315.65 Td ( issued a proposed rule ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 301.85 Td (that, among other things, seeks comment on potential changes to the federal CCR regulations, including ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 288.05 Td (allowances for greater flexibility in setting groundwater protection standards for certain regulated CCR ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 274.25 Td (constituents and with respect to implementing corrective action. Given the current proposal stage of this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 260.45 Td (rulemaking, it is not yet clear which specific provisions of the federal CCR rules will ultimately be modified, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 246.65 Td (how they will be modified, or when such modification will occur) Tj ET Q q 0 0 0 rg BT 348.13 246.65 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 219.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 219.05 Td (Pursuant to a June 24, 2016 order by the D.C. Circuit Court of ) Tj ET Q q 0 0 0 rg BT 374.25 219.05 Td (Appeals in the litigation by industry- ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 205.25 Td (and environmental-groups challenging EP) Tj ET Q q 0 0 0 rg BT 242.30 205.25 Td (A) Tj ET Q q 0 0 0 rg BT 249.33 205.25 Td () Tj ET Q q 0 0 0 rg BT 252.53 205.25 Td (s CCR regulations, within the next 2 years EP) Tj ET Q q 0 0 0 rg BT 462.61 205.25 Td (A) Tj ET Q q 0 0 0 rg BT 470.28 205.25 Td ( is required to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 191.45 Td (complete a rulemaking proceeding concerning whether or not boron must be included on the list of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 177.65 Td (groundwater constituents that might trigger corrective action under EP) Tj ET Q q 0 0 0 rg BT 372.91 177.65 Td (A) Tj ET Q q 0 0 0 rg BT 379.94 177.65 Td () Tj ET Q q 0 0 0 rg BT 383.14 177.65 Td (s CCR rules. Simultaneously with the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 163.85 Td (issuance of EP) Tj ET Q q 0 0 0 rg BT 116.15 163.85 Td (A's proposed modifications to the federal CCR rules in response to industry petitions, on March ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 150.05 Td (1, 2018, EP) Tj ET Q q 0 0 0 rg BT 102.12 150.05 Td (A) Tj ET Q q 0 0 0 rg BT 109.79 150.05 Td ( issued a proposed rule seeking comment as to whether or not boron should be included on this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 136.25 Td (list. EP) Tj ET Q q 0 0 0 rg BT 84.55 136.25 Td (A) Tj ET Q q 0 0 0 rg BT 92.22 136.25 Td ( is not required to take final action approving the inclusion of boron. Should EP) Tj ET Q q 0 0 0 rg BT 460.39 136.25 Td (A) Tj ET Q q 0 0 0 rg BT 468.06 136.25 Td ( take final action ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 122.45 Td (adding boron to the list of groundwater constituents that might trigger corrective action, any resulting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 108.65 Td (corrective action measures may increase ) Tj ET Q q 0 0 0 rg BT 237.57 108.65 Td (APS's costs of compliance with the CCR rule at our coal-fired ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 94.85 Td (generating facilities. ) Tj ET Q q 0 0 0 rg BT 148.49 94.85 Td (At this time ) Tj ET Q q 0 0 0 rg BT 205.04 94.85 Td (APS cannot predict the eventual results of this rulemaking proceeding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 81.05 Td (concerning boron.) Tj ET Q endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (44) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 712.05 Td (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 527.88 712.05 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 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 49.50 684.45 Td ($22 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 102.85 684.45 Td ( and its share of incremental costs to comply with the CCR rule for Cholla is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.32 684.45 Td ($20 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 670.65 Td (. ) Tj ET Q q 0 0 0 rg BT 91.14 670.65 Td (The Navajo Plant currently disposes of CCR in a dry landfill storage area. ) Tj ET Q q 0 0 0 rg BT 436.39 670.65 Td (APS estimates that its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (share of incremental costs to comply with the CCR rule for the Navajo Plant is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.85 656.85 Td ($1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.46 656.85 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (Additionally) Tj ET Q q 0 0 0 rg BT 106.89 643.05 Td (, the CCR rule requires ongoing, phased groundwater monitoring. By October 17, 2017, electric ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (utility companies that own or operate CCR disposal units, such as ) Tj ET Q q 0 0 0 rg BT 354.22 629.25 Td (APS, must have collected suf) Tj ET Q q 0 0 0 rg BT 489.12 629.25 Td (ficient ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (groundwater sampling data to initiate a detection monitoring program. ) Tj ET Q q 0 0 0 rg BT 378.56 615.45 Td (T) Tj ET Q q 0 0 0 rg BT 384.78 615.45 Td (o the extent that certain threshold ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (constituents are identified through this initial detection monitoring at levels above the CCR rule) Tj ET Q q 0 0 0 rg BT 493.13 601.65 Td (s standards, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (the rule required the initiation of an assessment monitoring program by ) Tj ET Q q 0 0 0 rg BT 379.42 587.85 Td (April 15, 2018. If this assessment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (monitoring program reveals concentrations of certain constituents above the CCR rule standards that trigger ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (remedial obligations, a corrective measures evaluation must be completed by January 2019. Depending upon ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (the results of such groundwater monitoring and data evaluations at each of Cholla, Four Corners and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (Navajo Plant, we may be required to take corrective actions, the costs of which we are unable to reasonably ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (estimate at this time. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 491.25 Td (Clean Power Plan.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 174.63 491.25 Td ( On ) Tj ET Q q 0 0 0 rg BT 196.68 491.25 Td (August 3, 2015, EP) Tj ET Q q 0 0 0 rg BT 285.40 491.25 Td (A) Tj ET Q q 0 0 0 rg BT 293.07 491.25 Td ( finalized carbon pollution standards for EGUs. Shortly ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (thereafter) Tj ET Q q 0 0 0 rg BT 93.09 477.45 Td (, a coalition of states, industry groups and electric utilities challenged the legality of these standards, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (including EP) Tj ET Q q 0 0 0 rg BT 108.18 463.65 Td (A's Clean Power Plan for existing EGUs, in the U.S. Court of ) Tj ET Q q 0 0 0 rg BT 393.59 463.65 Td (Appeals for the D.C. Circuit. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (February 9, 2016, the U.S. Supreme Court granted a stay of the Clean Power Plan pending judicial review of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (the rule, which temporarily delays compliance obligations under the Clean Power Plan. On March 28, 2017, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (President ) Tj ET Q q 0 0 0 rg BT 94.97 422.25 Td (T) Tj ET Q q 0 0 0 rg BT 101.59 422.25 Td (rump issued an Executive Order that, among other things, instructs EP) Tj ET Q q 0 0 0 rg BT 424.39 422.25 Td (A) Tj ET Q q 0 0 0 rg BT 432.06 422.25 Td ( to reevaluate ) Tj ET Q q 0 0 0 rg BT 496.24 422.25 Td (Agency ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (regulations concerning carbon emissions from EGUs and take appropriate action to suspend, revise or rescind ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 394.65 Td (August 2015 carbon pollution standards for EGUs, including the Clean Power Plan. ) Tj ET Q q 0 0 0 rg BT 456.43 394.65 Td (Also on March 28, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (2017, the U.S. Department of Justice, on behalf of EP) Tj ET Q q 0 0 0 rg BT 295.97 380.85 Td (A, filed a motion with the U.S. Court of ) Tj ET Q q 0 0 0 rg BT 481.88 380.85 Td (Appeals for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (D.C. Circuit Court to hold the ongoing litigation over the Clean Power Plan in abeyance pending EP) Tj ET Q q 0 0 0 rg BT 510.30 367.05 Td (A) Tj ET Q q 0 0 0 rg BT 517.97 367.05 Td ( action in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (accordance with the Executive Order) Tj ET Q q 0 0 0 rg BT 219.37 353.25 Td (. ) Tj ET Q q 0 0 0 rg BT 227.36 353.25 Td (At this time, the D.C. Circuit Court proceedings evaluating the legality ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (of the Clean Power Plan remain on hold. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 311.85 Td (Based upon EP) Tj ET Q q 0 0 0 rg BT 154.72 311.85 Td (A's reevaluation of the ) Tj ET Q q 0 0 0 rg BT 260.90 311.85 Td (August 2015 carbon pollution standards and the legal basis for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (these regulations, on October 10, 2017, EP) Tj ET Q q 0 0 0 rg BT 245.51 298.05 Td (A) Tj ET Q q 0 0 0 rg BT 253.18 298.05 Td ( issued a proposal to repeal the Clean Power Plan. ) Tj ET Q q 0 0 0 rg BT 488.67 298.05 Td (That proposal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (relies on EP) Tj ET Q q 0 0 0 rg BT 104.02 284.25 Td (A's current view as to the ) Tj ET Q q 0 0 0 rg BT 222.98 284.25 Td (Agency's legal authority under Clean ) Tj ET Q q 0 0 0 rg BT 395.91 284.25 Td (Air ) Tj ET Q q 0 0 0 rg BT 413.48 284.25 Td (Act Section 1) Tj ET Q q 0 0 0 rg BT 475.66 284.25 Td (1) Tj ET Q q 0 0 0 rg BT 480.98 284.25 Td (1\(d\), which \(in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (contrast to the Clean Power Plan\) would limit the scope of any future Section 1) Tj ET Q q 0 0 0 rg BT 413.81 270.45 Td (1) Tj ET Q q 0 0 0 rg BT 419.13 270.45 Td (1\(d\) regulations to measures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (undertaken exclusively at a power plant's source of greenhouse gas \("GHG"\) emissions. On December 18, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (2017, EP) Tj ET Q q 0 0 0 rg BT 90.62 242.85 Td (A) Tj ET Q q 0 0 0 rg BT 98.29 242.85 Td ( issued an ) Tj ET Q q 0 0 0 rg BT 145.88 242.85 Td (Advanced Notice of Proposed Rulemaking through which EP) Tj ET Q q 0 0 0 rg BT 428.13 242.85 Td (A) Tj ET Q q 0 0 0 rg BT 435.80 242.85 Td ( is soliciting comments as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (to potential replacements for the Clean Power Plan that would be consistent with EP) Tj ET Q q 0 0 0 rg BT 436.50 229.05 Td (A's current legal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (interpretation of the Clean ) Tj ET Q q 0 0 0 rg BT 172.77 215.25 Td (Air ) Tj ET Q q 0 0 0 rg BT 190.34 215.25 Td (Act. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 187.65 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 187.65 Td (e cannot predict the outcome of EP) Tj ET Q q 0 0 0 rg BT 255.97 187.65 Td (A's regulatory actions related to the ) Tj ET Q q 0 0 0 rg BT 421.55 187.65 Td (August 2015 carbon pollution ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (standards for EGU's, including any actions related to EP) Tj ET Q q 0 0 0 rg BT 307.62 173.85 Td (A's repeal proposal for the Clean Power Plan or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (additional rulemaking actions to develop regulations replacing the Clean Power Plan. In addition, we cannot ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (predict whether the D.C. Circuit Court will continue to hold the litigation challenging the original Clean Power ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (Plan in abeyance in light of EP) Tj ET Q q 0 0 0 rg BT 190.89 132.45 Td (A's repeal proposal. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 104.85 Td (Other environmental rulesthat could involve material compliance costs include those related to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 91.05 Td (fluent limitations, the ozone national ambient air quality standard and other rulesor matters involving the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (Clean ) Tj ET Q q 0 0 0 rg BT 78.57 77.25 Td (Air ) Tj ET Q q 0 0 0 rg BT 96.14 77.25 Td (Act, Clean ) Tj ET Q q 0 0 0 rg BT 147.98 77.25 Td (W) Tj ET Q q 0 0 0 rg BT 157.92 77.25 Td (ater ) Tj ET Q q 0 0 0 rg BT 177.39 77.25 Td (Act, Endangered Species ) Tj ET Q q 0 0 0 rg BT 294.91 77.25 Td (Act, RCRA, Superfund, the Navajo Nation, and water ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (supplies for our power plants. ) Tj ET Q q 0 0 0 rg BT 192.06 63.45 Td (The financial impact of complying with current and future environmental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.65 Td (rulescould jeopardize the economic viability of our coal plants or the willingness or ability of power plant ) Tj ET Q endstream endobj 95 0 obj <> endobj 96 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (45) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (participants to fund any required equipment upgrades or continue their participation in these plants. ) Tj ET Q q 0 0 0 rg BT 512.36 712.05 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 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 49.50 684.45 Td (early retirement of those plants, which may result in asset impairments. ) Tj ET Q q 0 0 0 rg BT 382.93 684.45 Td (APS would seek recovery in rates for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 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 49.50 656.85 Td (cannot predict whether it would obtain such recovery) Tj ET Q q 0 0 0 rg BT 293.69 656.85 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (Federal ) Tj ET Q q 0 0 0 rg BT 89.42 629.25 Td (Agency Envir) Tj ET Q q 0 0 0 rg BT 156.61 629.25 Td (onmental Lawsuit Related to Four) Tj ET Q q 0 0 0 rg BT 325.07 629.25 Td ( Corners ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 601.65 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 601.65 Td (April 20, 2016, several environmental groups filed a lawsuit against the Of) Tj ET Q q 0 0 0 rg BT 446.19 601.65 Td (fice of Surface Mining ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (Reclamation and Enforcement \("OSM"\) and other federal agencies in the District of ) Tj ET Q q 0 0 0 rg BT 438.26 587.85 Td (Arizona in connection ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (with their issuance of the approvals that extended the life of Four Corners and the adjacent mine. ) Tj ET Q q 0 0 0 rg BT 500.54 574.05 Td (The lawsuit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (alleges that these federal agencies violated both the Endangered Species ) Tj ET Q q 0 0 0 rg BT 383.52 560.25 Td (Act \("ESA"\) and the National ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (Environmental Policy ) Tj ET Q q 0 0 0 rg BT 152.35 546.45 Td (Act \("NEP) Tj ET Q q 0 0 0 rg BT 201.03 546.45 Td (A"\) in providing the federal approvals necessary to extend operations at the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (Four Corners Power Plant and the adjacent Navajo Mine past July 6, 2016. ) Tj ET Q q 0 0 0 rg BT 398.92 532.65 Td (APS filed a motion to intervene in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (the proceedings, which was granted on ) Tj ET Q q 0 0 0 rg BT 230.58 518.85 Td (August 3, 2016. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 491.25 Td (On September 15, 2016, NTEC, the company that owns the adjacent mine, filed a motion to intervene ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (for the purpose of dismissing the lawsuit based on NTEC's tribal sovereign immunity) Tj ET Q q 0 0 0 rg BT 441.14 477.45 Td (. On September 1) Tj ET Q q 0 0 0 rg BT 524.08 477.45 Td (1, 2017, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 463.65 Td (Arizona District Court issued an order granting NTEC's motion, dismissing the litigation with prejudice, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (and terminating the proceedings. On November 9, 2017, the environmental group plaintif) Tj ET Q q 0 0 0 rg BT 463.51 449.85 Td (fs appealed the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (district court order dismissing their lawsuit. ) Tj ET Q q 0 0 0 rg BT 255.63 436.05 Td (W) Tj ET Q q 0 0 0 rg BT 265.56 436.05 Td (e cannot predict whether this appeal will be successful and, if it ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (is successful, the outcome of further district court proceedings. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (Four) Tj ET Q q 0 0 0 rg BT 73.57 394.65 Td ( Corners Coal Supply ) Tj ET Q q 0 0 0 rg BT 182.20 394.65 Td (Agr) Tj ET Q q 0 0 0 rg BT 201.15 394.65 Td (eement) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 367.05 Td (Arbitration) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 339.45 Td (On June 13, 2017, ) Tj ET Q q 0 0 0 rg BT 171.75 339.45 Td (APS received a Demand for ) Tj ET Q q 0 0 0 rg BT 303.00 339.45 Td (Arbitration from NTEC in connection with the 2016 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (Coal Supply ) Tj ET Q q 0 0 0 rg BT 108.93 325.65 Td (Agreement, dated December 30, 2013, under which NTEC supplies coal to ) Tj ET Q q 0 0 0 rg BT 456.39 325.65 Td (APS and the other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (Four Corners owners \(collectively) Tj ET Q q 0 0 0 rg BT 206.20 311.85 Td (, the Buyer\) for use at the Four Corners Power Plant. NTEC was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (originally seeking a declaratory judgment to support its interpretation of a provision regarding uncontrollable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (forces in the agreement that relates to annual minimum quantities of coal to be purchased by the Buyer) Tj ET Q q 0 0 0 rg BT 521.82 284.25 Td (. NTEC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (also alleged a shortfall in the Buyer) Tj ET Q q 0 0 0 rg BT 213.44 270.45 Td () Tj ET Q q 0 0 0 rg BT 216.63 270.45 Td (s purchases for the initial contract year of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.44 270.45 Td ($30 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.79 270.45 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (APS) Tj ET Q q 0 0 0 rg BT 73.79 256.65 Td (s share of this amount is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 257.44 256.65 Td ($17 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 310.79 256.65 Td (. On September 20, 2017, NTEC amended its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (Demand for ) Tj ET Q q 0 0 0 rg BT 106.98 242.85 Td (Arbitration, removing its request for a declaratory judgment and at such time was only seeking ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (relief for the alleged shortfall in the Buyer's purchases for the initial contract year) Tj ET Q q 0 0 0 rg BT 423.59 229.05 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 201.45 Td (The parties have reached an agreement in principle to settle the dispute for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.32 201.45 Td ($45 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 484.68 201.45 Td (, which includes ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (settlement for the initial contract year and the current contract year) Tj ET Q q 0 0 0 rg BT 356.03 187.65 Td (. ) Tj ET Q q 0 0 0 rg BT 364.02 187.65 Td (APS) Tj ET Q q 0 0 0 rg BT 388.32 187.65 Td (s share of this amount is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 173.85 Td ($34 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 172.15 173.85 Td (. ) Tj ET Q q 0 0 0 rg BT 180.57 173.85 Td (The parties are in discussions to memorialize the settlement terms and finalize ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (amendments to the 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 224.55 160.05 Td (Agreement, including modifications to the provisions that gave rise to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (this dispute. \(See 4CA) Tj ET Q q 0 0 0 rg BT 163.22 146.25 Td ( Matter below for additional matters agreed to between 4CA) Tj ET Q q 0 0 0 rg BT 445.20 146.25 Td ( and NTEC in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (settlement arrangement.\) ) Tj ET Q q 0 0 0 rg BT 169.36 132.45 Td (The settlement is subject to finalization of related agreements and certain approvals, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (which are anticipated to be completed by mid-2018, and which should not have a material impact on our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (financial position, results of operations or cash flows. ) Tj ET Q endstream endobj 97 0 obj <> endobj 98 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (46) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 712.05 Td (Coal ) Tj ET Q q 0 0 0 rg BT 110.74 712.05 Td (Advance Pur) Tj ET Q q 0 0 0 rg BT 174.74 712.05 Td (chase) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.45 Td (As part of the on-going discussions between the parties, on March 12, 2018, ) Tj ET Q q 0 0 0 rg BT 438.11 684.45 Td (APS paid to NTEC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 670.65 Td ($24 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 172.15 670.65 Td ( as an advance payment for ) Tj ET Q q 0 0 0 rg BT 299.88 670.65 Td (APS) Tj ET Q q 0 0 0 rg BT 324.17 670.65 Td (s share of coal under the 2016 CSA. ) Tj ET Q q 0 0 0 rg BT 495.79 670.65 Td (The coal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (inventory purchased represents an amount that ) Tj ET Q q 0 0 0 rg BT 266.02 656.85 Td (APS expects to use for its plant operations within the next year) Tj ET Q q 0 0 0 rg BT 555.08 656.85 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 629.25 Td (4CA) Tj ET Q q 0 0 0 rg BT 107.23 629.25 Td ( Matter) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 601.65 Td (On July 6, 2016, 4CA) Tj ET Q q 0 0 0 rg BT 185.82 601.65 Td ( purchased El Paso) Tj ET Q q 0 0 0 rg BT 276.20 601.65 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 283.55 601.65 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 298.88 601.65 Td ( interest in Four Corners. NTEC had the option to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (purchase the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 110.17 587.85 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 125.50 587.85 Td ( interest within a certain timeframe pursuant to an option granted to NTEC. On December 29, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (2015, NTEC provided notice of its intent to exercise the option. ) Tj ET Q q 0 0 0 rg BT 348.24 574.05 Td (The purchase did not occur during the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (originally contemplated timeframe. Concurrent with the settlement in principle of the 2016 Coal Supply ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (Agreement matter described above, NTEC and 4CA) Tj ET Q q 0 0 0 rg BT 289.33 546.45 Td ( agreed to allow for the purchase by NTEC of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 519.58 546.45 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 534.91 546.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (interest, consistent with the option, to occur on or around July 1, 2018, subject to finalizing related ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (documentation and certain approvals. Under the settlement in principle, NTEC will purchase the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.15 518.85 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 514.48 518.85 Td ( interest at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (4CA) Tj ET Q q 0 0 0 rg BT 69.95 505.05 Td () Tj ET Q q 0 0 0 rg BT 73.15 505.05 Td (s book value and will pay 4CA) Tj ET Q q 0 0 0 rg BT 214.97 505.05 Td ( the purchase price over a period of four years pursuant to a secured ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (interest-bearing promissory note.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 467.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 467.45 Td (The 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 191.56 467.45 Td (Agreement contains alternate pricing terms for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 426.26 467.45 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.59 467.45 Td ( interest in the event ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 453.65 Td (NTEC does not purchase the interest. ) Tj ET Q q 0 0 0 rg BT 226.44 453.65 Td (At this time, since NTEC has not yet purchased the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 465.02 453.65 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 480.35 453.65 Td ( interest, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 439.85 Td (alternate pricing provisions are applicable to 4CA) Tj ET Q q 0 0 0 rg BT 278.16 439.85 Td ( as the holder of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 372.05 439.85 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.38 439.85 Td ( interest. ) Tj ET Q q 0 0 0 rg BT 432.52 439.85 Td (These terms include a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 426.05 Td (formula under which NTEC must make certain payments to 4CA) Tj ET Q q 0 0 0 rg BT 348.76 426.05 Td ( for reimbursement of operations and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 412.25 Td (maintenance costs and a specified rate of return, of) Tj ET Q q 0 0 0 rg BT 283.35 412.25 Td (fset by revenue generated by 4CA) Tj ET Q q 0 0 0 rg BT 438.86 412.25 Td () Tj ET Q q 0 0 0 rg BT 442.06 412.25 Td (s power sales. Such ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 398.45 Td (payments are due to 4CA) Tj ET Q q 0 0 0 rg BT 165.75 398.45 Td ( at the end of each calendar year) Tj ET Q q 0 0 0 rg BT 313.57 398.45 Td (. ) Tj ET Q q 0 0 0 rg BT 321.56 398.45 Td (A) Tj ET Q q 0 0 0 rg BT 329.23 398.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 332.11 398.45 Td ($10 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 385.46 398.45 Td ( payment was due to 4CA) Tj ET Q q 0 0 0 rg BT 503.96 398.45 Td ( at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 384.65 Td (December 31, 2017, which NTEC satisfied by directing to 4CA) Tj ET Q q 0 0 0 rg BT 341.74 384.65 Td ( a prepayment from ) Tj ET Q q 0 0 0 rg BT 434.35 384.65 Td (APS of a portion of a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 370.85 Td (future mine reclamation obligation. ) Tj ET Q q 0 0 0 rg BT 217.91 370.85 Td (The balance of the amount under this formula at March 31, 2018 for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 357.05 Td (calendar year 2017 is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 219.70 357.05 Td ($20 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 273.05 357.05 Td (, which is due to 4CA) Tj ET Q q 0 0 0 rg BT 372.72 357.05 Td ( at December 31, 2018. In future years ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 343.25 Td (there may be similar payments due from NTEC to 4CA) Tj ET Q q 0 0 0 rg BT 304.05 343.25 Td ( under this formula; however these payments will cease ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 329.45 Td (to accrue once NTEC becomes the owner of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 272.71 329.45 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 288.03 329.45 Td ( as discussed above. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 305.65 Td (Financial ) Tj ET Q q 0 0 0 rg BT 97.75 305.65 Td (Assurances) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 278.05 Td (In the normal course of business, we obtain standby letters of credit and surety bonds from financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 264.25 Td (institutions and other third parties. ) Tj ET Q q 0 0 0 rg BT 213.15 264.25 Td (These instruments guarantee our own future performance and provide third ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 250.45 Td (parties with financial and performance assurance in the event we do not perform. ) Tj ET Q q 0 0 0 rg BT 424.82 250.45 Td (These instruments support ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 236.65 Td (commodity contract collateral obligations and other transactions. ) Tj ET Q q 0 0 0 rg BT 353.21 236.65 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 381.32 236.65 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 454.46 236.65 Td (, standby letters of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 222.85 Td (credit totaled ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 112.72 222.85 Td ($5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 160.33 222.85 Td ( and will expire in 2018. ) Tj ET Q q 0 0 0 rg BT 277.87 222.85 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.98 222.85 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 379.12 222.85 Td (, surety bonds expiring through 2019 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 209.05 Td (totaled ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 83.67 209.05 Td ($36 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 137.02 209.05 Td (. ) Tj ET Q q 0 0 0 rg BT 145.44 209.05 Td (The underlying liabilities insured by these instruments are reflected on our balance sheets, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 195.25 Td (where applicable. ) Tj ET Q q 0 0 0 rg BT 133.27 195.25 Td (Therefore, no additional liability is reflected for the letters of credit and surety bonds ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 181.45 Td (themselves. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 167.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 153.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 153.85 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 49.50 140.05 Td (related to certain of our agreements. Most significantly) Tj ET Q q 0 0 0 rg BT 304.55 140.05 Td (, ) Tj ET Q q 0 0 0 rg BT 309.67 140.05 Td (APS has agreed to indemnify the equity participants ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 126.25 Td (and other parties in the Palo ) Tj ET Q q 0 0 0 rg BT 180.87 126.25 Td (V) Tj ET Q q 0 0 0 rg BT 187.90 126.25 Td (erde sale leaseback transactions with respect to certain tax matters. Generally) Tj ET Q q 0 0 0 rg BT 545.43 126.25 Td (, a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 112.45 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 98.65 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 84.85 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 71.05 Td (loss related to such indemnification provisions is likely) Tj ET Q q 0 0 0 rg BT 302.68 71.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 57.25 Td () Tj ET Q endstream endobj 99 0 obj <> endobj 100 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (47) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 712.05 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 712.05 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 712.05 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 49.50 698.25 Td (bonds for ) Tj ET Q q 0 0 0 rg BT 95.50 698.25 Td (APS which were not material at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 244.97 698.25 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 318.10 698.25 Td (. Since July 6, 2016, Pinnacle ) Tj ET Q q 0 0 0 rg BT 459.72 698.25 Td (W) Tj ET Q q 0 0 0 rg BT 469.65 698.25 Td (est has issued ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 535.13 698.25 Td (four) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 554.29 698.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (parental guarantees for 4CA) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.12156862745098039 0.28627450980392155 0.49019607843137253 rg BT 179.46 684.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 182.21 684.45 Td (relating to payment obligations arising from 4CA) Tj ET Q q 0 0 0 rg BT 408.35 684.45 Td () Tj ET Q q 0 0 0 rg BT 411.54 684.45 Td (s acquisition of El Paso) Tj ET Q q 0 0 0 rg BT 522.71 684.45 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 530.06 684.45 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 545.39 684.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (interest in Four Corners, and pursuant to the Four Corners participation agreement payment obligations arising ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (from 4CA) Tj ET Q q 0 0 0 rg BT 95.18 656.85 Td () Tj ET Q q 0 0 0 rg BT 98.38 656.85 Td (s ownership interest in Four Corners.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 629.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 51.50 629.25 Td (9) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 57.25 629.25 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 629.25 Td (Other) Tj ET Q q 0 0 0 rg BT 114.67 629.25 Td ( Income and Other) Tj ET Q q 0 0 0 rg BT 207.42 629.25 Td ( Expense) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 251.19 629.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 601.65 Td (The following table provides detail of Pinnacle ) Tj ET Q q 0 0 0 rg BT 304.70 601.65 Td (W) Tj ET Q q 0 0 0 rg BT 314.63 601.65 Td (est's Consolidated other income and other expense ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.71 587.85 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 248.78 587.85 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.14 587.85 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.14 587.85 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 522.55 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 522.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 522.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 522.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 490.55 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 490.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 490.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 490.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 458.55 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 458.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 458.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 458.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 426.55 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 426.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 426.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 426.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 394.55 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 394.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 394.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 394.55 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 429 537.55 m 494 537.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 537.55 m 498 537.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 537.55 m 563 537.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 537.55 m 494 537.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 522.55 m 494 522.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 537.55 m 498 537.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 537.55 m 563 537.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 522.55 m 563 522.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 458.55 m 494 458.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 443.55 m 494 443.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 441.55 m 494 441.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 458.55 m 563 458.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 443.55 m 563 443.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 441.55 m 563 441.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 378.55 m 494 378.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 378.55 m 563 378.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 378.55 m 494 378.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 363.55 m 494 363.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 361.55 m 494 361.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 378.55 m 563 378.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 363.55 m 563 363.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 361.55 m 563 361.55 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 542.45 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 445.45 553.45 Td (Thr) Tj ET Q q 0 0 0 rg BT 463.69 553.45 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 470.05 542.45 Td (Mar) Tj ET Q q 0 0 0 rg BT 493.47 542.45 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 527.45 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 450.00 527.45 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 519.00 527.45 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 511.58 Td (Other income:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.50 511.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 511.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 495.58 Td (Interest income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.50 495.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 495.58 Td (1,891) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 495.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.40 495.58 Td (477) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 479.58 Td (Debt return on Four Corners SCR deferral \(Note 4\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 479.58 Td (2,092) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 479.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 463.58 Td (Miscellaneous) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 463.58 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 552.90 463.58 Td (3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 447.58 Td (T) Tj ET Q q 0 0 0 rg BT 58.72 447.58 Td (otal other income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.50 447.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 447.58 Td (3,985) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 447.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.40 447.58 Td (480) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 431.58 Td (Other expense:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.50 431.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 431.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 415.58 Td (Non-operating costs) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.50 415.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.90 415.58 Td (\(1,646) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.65 415.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 415.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 415.58 Td (\(1,959) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 415.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 399.58 Td (Investment losses net) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.55 399.63 Td (\(176) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.65 399.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 537.55 399.63 Td (\(301) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 399.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 383.58 Td (Miscellaneous) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.90 383.58 Td (\(1,407) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.65 383.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 383.58 Td (\(1,420) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 383.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 367.58 Td (T) Tj ET Q q 0 0 0 rg BT 58.72 367.58 Td (otal other expense) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.50 367.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.90 367.58 Td (\(3,229) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.65 367.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 367.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 367.58 Td (\(3,680) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 367.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 349.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 335.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 335.45 Td (The following table provides detail of ) Tj ET Q q 0 0 0 rg BT 261.79 335.45 Td (APS) Tj ET Q q 0 0 0 rg BT 286.09 335.45 Td (s other income and other expense for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 475.77 335.45 Td (three months ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.65 Td (ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 152.97 321.65 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 175.33 321.65 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 198.33 321.65 Td ( \(dollars in thousands\): ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 270.15 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 270.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 270.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 270.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 238.15 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 238.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 238.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 238.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 206.15 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 206.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 206.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 206.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 174.15 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 174.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 174.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 174.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 142.15 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 142.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 142.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 142.15 65.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 285.15 m 494 285.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 285.15 m 498 285.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 285.15 m 563 285.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 285.15 m 494 285.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 270.15 m 494 270.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 285.15 m 563 285.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 270.15 m 563 270.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 206.14999999999998 m 494 206.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 191.14999999999998 m 494 191.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 189.14999999999998 m 494 189.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 206.14999999999998 m 563 206.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 191.14999999999998 m 563 191.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 189.14999999999998 m 563 189.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 142.14999999999998 m 494 142.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 142.14999999999998 m 563 142.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 142.14999999999998 m 494 142.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 127.14999999999998 m 494 127.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 125.14999999999998 m 494 125.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 142.14999999999998 m 563 142.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 127.14999999999998 m 563 127.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 125.14999999999998 m 563 125.14999999999998 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 290.05 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 445.45 301.05 Td (Thr) Tj ET Q q 0 0 0 rg BT 463.69 301.05 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 470.05 290.05 Td (Mar) Tj ET Q q 0 0 0 rg BT 493.47 290.05 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 275.05 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 450.00 275.05 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 519.00 275.05 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 259.18 Td (Other income:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.50 259.18 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 259.18 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 243.18 Td (Interest income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.50 243.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 243.18 Td (1,678) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 243.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.40 243.18 Td (338) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 227.18 Td (Debt return on Four Corners SCR deferral \(Note 4\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 227.18 Td (2,092) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 227.18 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 211.18 Td (Miscellaneous) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.90 211.18 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 552.90 211.18 Td (4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 195.18 Td (T) Tj ET Q q 0 0 0 rg BT 58.72 195.18 Td (otal other income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.50 195.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.75 195.18 Td (3,772) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 195.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.40 195.18 Td (342) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 179.18 Td (Other expense:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.50 179.18 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 179.18 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 163.18 Td (Non-operating costs) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.50 163.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.90 163.18 Td (\(1,539) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.65 163.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 163.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 163.18 Td (\(1,752) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 163.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 147.18 Td (Miscellaneous) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.90 147.18 Td (\(1,406) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.65 147.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 147.18 Td (\(1,376) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 147.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 131.18 Td (T) Tj ET Q q 0 0 0 rg BT 58.72 131.18 Td (otal other expense) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.50 131.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.90 131.18 Td (\(2,945) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.65 131.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 131.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 131.18 Td (\(3,128) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 131.18 Td (\)) Tj ET Q BT /F1 11.50 Tf ET endstream endobj 101 0 obj <> endobj 102 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (48) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (10) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 61.00 712.25 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 712.25 Td (Earnings Per) Tj ET Q q 0 0 0 rg BT 150.14 712.25 Td ( Shar) Tj ET Q q 0 0 0 rg BT 176.45 712.25 Td (e) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 181.56 712.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.65 Td (The following table presents the calculation of Pinnacle ) Tj ET Q q 0 0 0 rg BT 344.61 684.65 Td (W) Tj ET Q q 0 0 0 rg BT 354.54 684.65 Td (est) Tj ET Q q 0 0 0 rg BT 370.51 684.65 Td (s basic and diluted earnings per share for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 66.42 670.85 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.50 670.85 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 254.85 670.85 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 277.85 670.85 Td ( \(in thousands, except per share amounts\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 619.35 381.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 619.35 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 619.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 619.35 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 587.35 381.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 587.35 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 587.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 587.35 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 555.35 381.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 555.35 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 555.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 555.35 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 523.35 381.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 523.35 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 523.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 523.35 56.00 -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 431 634.35 m 503 634.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 634.35 m 507 634.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 634.35 m 563 634.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 634.35 m 503 634.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 619.35 m 503 619.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 634.35 m 507 634.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 634.35 m 563 634.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 619.35 m 563 619.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 619.35 m 503 619.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 604.35 m 503 604.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 602.35 m 503 602.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 619.35 m 563 619.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 604.35 m 563 604.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 602.35 m 563 602.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 555.35 m 503 555.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 540.35 m 503 540.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 538.35 m 503 538.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 555.35 m 563 555.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 540.35 m 563 540.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 538.35 m 563 538.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 508.35 m 503 508.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 506.35 m 503 506.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 508.35 m 563 508.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 506.35 m 563 506.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 492.35 m 503 492.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 490.35 m 503 490.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 492.35 m 563 492.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 490.35 m 563 490.35 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 639.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 446.45 650.25 Td (Thr) Tj ET Q q 0 0 0 rg BT 464.69 650.25 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 471.05 639.25 Td (Mar) Tj ET Q q 0 0 0 rg BT 494.47 639.25 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 624.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 455.50 624.25 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 523.50 624.25 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 608.27 Td (Net income attributable to common shareholders) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 433.50 608.27 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 474.05 608.27 Td (3,221) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.50 608.27 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 608.27 Td (23,312) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 592.27 Td (W) Tj ET Q q 0 0 0 rg BT 62.44 592.27 Td (eighted average common shares outstanding basic) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 463.05 592.27 Td (1) Tj ET Q q 0 0 0 rg BT 468.55 592.27 Td (12,017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 592.27 Td (1) Tj ET Q q 0 0 0 rg BT 528.50 592.27 Td (1) Tj ET Q q 0 0 0 rg BT 534.00 592.27 Td (1,728) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 576.27 Td (Net ef) Tj ET Q q 0 0 0 rg BT 79.48 576.27 Td (fect of dilutive securities:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 499.50 576.27 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 576.27 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 560.27 Td (Contingently issuable performance shares and restricted stock units) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 482.30 560.27 Td (476) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.30 560.27 Td (467) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 544.27 Td (W) Tj ET Q q 0 0 0 rg BT 62.44 544.27 Td (eighted average common shares outstanding diluted) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 463.05 544.27 Td (1) Tj ET Q q 0 0 0 rg BT 468.55 544.27 Td (12,493) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 544.27 Td (1) Tj ET Q q 0 0 0 rg BT 528.50 544.27 Td (12,195) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 528.27 Td (Earnings per weighted-average common share outstanding) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 64.50 512.27 Td (Net income attributable to common shareholders basic) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 433.50 512.27 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.55 512.27 Td (0.03) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.50 512.27 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 539.55 512.27 Td (0.21) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 64.50 496.27 Td (Net income attributable to common shareholders diluted) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 433.50 496.27 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.55 496.27 Td (0.03) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.50 496.27 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 539.55 496.27 Td (0.21) Tj ET Q BT /F1 11.50 Tf ET BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 464.25 Td (1) Tj ET Q q 0 0 0 rg BT 54.62 464.25 Td (1) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 60.37 464.25 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 464.25 Td (Fair) Tj ET Q q 0 0 0 rg BT 106.37 464.25 Td ( ) Tj ET Q q 0 0 0 rg BT 109.03 464.25 Td (V) Tj ET Q q 0 0 0 rg BT 116.28 464.25 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 177.08 464.25 Td (ements) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 211.57 464.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 450.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 436.65 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 436.65 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 522.58 436.65 Td (. ) Tj ET Q q 0 0 0 rg BT 530.99 436.65 Td (This ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.85 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 49.50 409.05 Td (and disclosed in one of three categories. ) Tj ET Q q 0 0 0 rg BT 239.30 409.05 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 85.50 395.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 381.45 Td (Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 353.85 Td (Level 2 Other significant observable inputs, including quoted prices in active markets for similar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.05 Td (assets or liabilities; quoted prices in markets that are not active, and model-derived valuations whose inputs are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 326.25 Td (observable \(such as yield curves\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 312.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 298.65 Td (Level 3 ) Tj ET Q q 0 0 0 rg BT 140.22 298.65 Td (V) Tj ET Q q 0 0 0 rg BT 147.25 298.65 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 49.50 284.85 Td (market activity) Tj ET Q q 0 0 0 rg BT 118.05 284.85 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 49.50 271.05 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 49.50 257.25 Td (market data does not exist. ) Tj ET Q q 0 0 0 rg BT 178.00 257.25 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 49.50 243.45 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 85.50 229.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 215.85 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 49.50 202.05 Td (to the fair value measurement. ) Tj ET Q q 0 0 0 rg BT 194.58 202.05 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 49.50 188.25 Td (include significant inputs that are readily observable. ) Tj ET Q q 0 0 0 rg BT 298.71 188.25 Td (W) Tj ET Q q 0 0 0 rg BT 308.64 188.25 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 49.50 174.45 Td (the use of unobservable inputs. ) Tj ET Q q 0 0 0 rg BT 197.81 174.45 Td (W) Tj ET Q q 0 0 0 rg BT 207.74 174.45 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 49.50 160.65 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 49.50 146.85 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 49.50 133.05 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 514.87 133.05 Td (fect the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 119.25 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 49.50 105.45 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 105.45 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 551.75 105.45 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.65 Td (and assessing the volume of transactions. ) Tj ET Q q 0 0 0 rg BT 244.76 91.65 Td (W) Tj ET Q q 0 0 0 rg BT 254.69 91.65 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 77.85 Td (binding on the broker) Tj ET Q q 0 0 0 rg BT 148.37 77.85 Td (, we can validate the quote with market activity) Tj ET Q q 0 0 0 rg BT 365.73 77.85 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 64.05 Td (broker used to arrive at the quoted price are observable.) Tj ET Q endstream endobj 103 0 obj <> endobj 104 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (49) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 712.05 Td (Certain instruments have been valued using the concept of NA) Tj ET Q q 0 0 0 rg BT 372.40 712.05 Td (V) Tj ET Q q 0 0 0 rg BT 379.22 712.05 Td (, as a practical expedient. ) Tj ET Q q 0 0 0 rg BT 498.11 712.05 Td (These ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (instruments are typically structured as investment companies of) Tj ET Q q 0 0 0 rg BT 342.15 698.25 Td (fering shares or units to multiple investors for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (the purpose of providing a return. ) Tj ET Q q 0 0 0 rg BT 206.74 684.45 Td (These instruments are similar to mutual funds; however) Tj ET Q q 0 0 0 rg BT 462.74 684.45 Td (, their NA) Tj ET Q q 0 0 0 rg BT 507.57 684.45 Td (V) Tj ET Q q 0 0 0 rg BT 515.67 684.45 Td ( is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (generally not published and publicly available, nor are these instruments traded on an exchange. Instruments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (valued using NA) Tj ET Q q 0 0 0 rg BT 125.95 656.85 Td (V) Tj ET Q q 0 0 0 rg BT 132.78 656.85 Td (, as a practical expedient are included in our fair value disclosures however) Tj ET Q q 0 0 0 rg BT 478.14 656.85 Td (, in accordance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (with GAAP) Tj ET Q q 0 0 0 rg BT 103.71 643.05 Td ( are not classified within the fair value hierarchy levels.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (Recurring Fair) Tj ET Q q 0 0 0 rg BT 123.70 615.45 Td ( ) Tj ET Q q 0 0 0 rg BT 126.37 615.45 Td (V) Tj ET Q q 0 0 0 rg BT 133.62 615.45 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 194.42 615.45 Td (ements) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 587.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 587.85 Td (e apply recurring fair value measurements to cash equivalents, derivative instruments, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (investments held in the nuclear decommissioning trust and other special use funds. On an annual basis we ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (apply fair value measurements to plan assets held in our retirement and other benefit plans. See Note 7 in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (2017 Form10-K for fair value discussion of plan assets held in our retirement and other benefit plans.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 532.65 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 518.85 Td (Cash Equivalents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 505.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 491.25 Td (Cash equivalents represent certain investments in money market funds that are valued using quoted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (prices in active markets.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 449.85 Td (Risk Management ) Tj ET Q q 0 0 0 rg BT 174.53 449.85 Td (Activities Derivative Instruments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 436.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 422.25 Td (Exchange traded commodity contracts are valued using unadjusted quoted prices. For non-exchange ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (traded commodity contracts, we calculate fair value based on the average of the bid and of) Tj ET Q q 0 0 0 rg BT 465.04 408.45 Td (fer price, discounted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (to reflect net present value. ) Tj ET Q q 0 0 0 rg BT 179.89 394.65 Td (W) Tj ET Q q 0 0 0 rg BT 189.82 394.65 Td (e maintain certain valuation adjustments for a number of risks associated with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (the valuation of future commitments. ) Tj ET Q q 0 0 0 rg BT 225.91 380.85 Td (These include valuation adjustments for liquidity and credit risks. ) Tj ET Q q 0 0 0 rg BT 533.27 380.85 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (liquidity valuation adjustment represents the cost that would be incurred if all unmatched positions were closed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (out or hedged. ) Tj ET Q q 0 0 0 rg BT 121.15 353.25 Td (The credit valuation adjustment represents estimated credit losses on our net exposure to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 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 49.50 325.65 Td (counterparties and the overall diversification of the portfolio. ) Tj ET Q q 0 0 0 rg BT 336.06 325.65 Td (W) Tj ET Q q 0 0 0 rg BT 346.00 325.65 Td (e maintain credit policies that management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (believes minimize overall credit risk.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 298.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 284.25 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 49.50 270.45 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 49.50 256.65 Td (long-dated ener) Tj ET Q q 0 0 0 rg BT 121.14 256.65 Td (gy transactions consist of observable valuations for the near) Tj ET Q q 0 0 0 rg BT 396.19 256.65 Td (-term portion and unobservable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (valuations for the long-term portions of the transaction. ) Tj ET Q q 0 0 0 rg BT 309.90 242.85 Td (W) Tj ET Q q 0 0 0 rg BT 319.83 242.85 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 49.50 229.05 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 111.58 229.05 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 49.50 215.25 Td (quote has been developed consistent with fair value accounting guidance. ) Tj ET Q q 0 0 0 rg BT 392.91 215.25 Td (These controls include assessing the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 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 49.50 187.65 Td (and assessing market activity) Tj ET Q q 0 0 0 rg BT 183.21 187.65 Td (. ) Tj ET Q q 0 0 0 rg BT 191.63 187.65 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 49.50 173.85 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 49.50 160.05 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 85.50 146.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 132.45 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 49.50 118.65 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 49.50 104.85 Td (long-term nature of our ener) Tj ET Q q 0 0 0 rg BT 179.57 104.85 Td (gy transactions.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 91.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 77.25 Td (Our ener) Tj ET Q q 0 0 0 rg BT 125.84 77.25 Td (gy risk management committee, consisting of of) Tj ET Q q 0 0 0 rg BT 347.60 77.25 Td (ficers and key management personnel, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (oversees our ener) Tj ET Q q 0 0 0 rg BT 129.75 63.45 Td (gy risk management activities to ensure compliance with our stated ener) Tj ET Q q 0 0 0 rg BT 461.67 63.45 Td (gy risk management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.65 Td (policies. ) Tj ET Q q 0 0 0 rg BT 93.69 49.65 Td (W) Tj ET Q q 0 0 0 rg BT 103.62 49.65 Td (e have a risk control function that is responsible for valuing our derivative commodity instruments ) Tj ET Q endstream endobj 105 0 obj <> endobj 106 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (50) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (in accordance with established policies and procedures. ) Tj ET Q q 0 0 0 rg BT 310.19 712.05 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 49.50 698.25 Td (of) Tj ET Q q 0 0 0 rg BT 58.87 698.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 80.36 698.25 Td () Tj ET Q q 0 0 0 rg BT 83.56 698.25 Td (s or) Tj ET Q q 0 0 0 rg BT 100.28 698.25 Td (ganization.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (Investments Held in Nuclear) Tj ET Q q 0 0 0 rg BT 189.53 670.65 Td ( Decommissioning ) Tj ET Q q 0 0 0 rg BT 281.32 670.65 Td (T) Tj ET Q q 0 0 0 rg BT 288.14 670.65 Td (rust and Other) Tj ET Q q 0 0 0 rg BT 361.41 670.65 Td ( Special Use Funds) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 656.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 643.05 Td (The nuclear decommissioning trust and other special use funds invest in fixed income and equity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (securities. Other special use funds include the coal reclamation escrow account and the active union medical ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (trust. See Note 12 for additional discussion about our investment accounts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 587.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 587.85 Td (e value investments in fixed income and equity securities using information provided by our trustees ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (and escrow agent. Our trustees and escrow agent use pricing services that utilize the valuation methodologies ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (described below to determine fair market value. ) Tj ET Q q 0 0 0 rg BT 272.18 560.25 Td (W) Tj ET Q q 0 0 0 rg BT 282.11 560.25 Td (e have internal control procedures designed to ensure this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (information is consistent with fair value accounting guidance. ) Tj ET Q q 0 0 0 rg BT 336.40 546.45 Td (These procedures include assessing valuations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 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 49.50 518.85 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 49.50 505.05 Td (and reviewing independent audit reports on the trustees) Tj ET Q q 0 0 0 rg BT 307.00 505.05 Td ( and escrow agent's internal operating controls and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (valuation processes.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 463.65 Td (Fixed Income Securities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 436.05 Td (Fixed income securities issued by the U.S. ) Tj ET Q q 0 0 0 rg BT 283.65 436.05 Td (T) Tj ET Q q 0 0 0 rg BT 290.27 436.05 Td (reasury are valued using quoted active market prices and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (are typically classified as Level 1. Fixed income securities issued by corporations, municipalities, and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (agencies, including mortgage-backed instruments, are valued using quoted inactive market prices, quoted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (active market prices for similar securities, or by utilizing calculations which incorporate observable inputs such ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (as yield curves and spreads relative to such yield curves. ) Tj ET Q q 0 0 0 rg BT 314.99 380.85 Td (These fixed income instruments are classified as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (Level 2. ) Tj ET Q q 0 0 0 rg BT 92.72 367.05 Td (Whenever possible, multiple market quotes are obtained which enables a cross-check validation. ) Tj ET Q q 0 0 0 rg BT 542.04 367.05 Td (A) Tj ET Q q 0 0 0 rg BT 549.71 367.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (primary price source is identified based on asset type, class, or issue of securities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 325.65 Td (Fixed income securities may also include short-term investments in certificates of deposit, variable rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (notes, time deposit accounts, U.S. ) Tj ET Q q 0 0 0 rg BT 208.04 311.85 Td (T) Tj ET Q q 0 0 0 rg BT 214.66 311.85 Td (reasury and ) Tj ET Q q 0 0 0 rg BT 270.22 311.85 Td (Agency obligations, U.S. ) Tj ET Q q 0 0 0 rg BT 388.84 311.85 Td (T) Tj ET Q q 0 0 0 rg BT 395.46 311.85 Td (reasury repurchase agreements, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (commercial paper) Tj ET Q q 0 0 0 rg BT 131.73 298.05 Td (, and other short term instruments. ) Tj ET Q q 0 0 0 rg BT 292.50 298.05 Td (These instruments are valued using active market prices ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (or utilizing observable inputs described above. ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 256.65 Td (Equity Securities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 229.05 Td (The nuclear decommissioning trust's equity security investments are held indirectly through ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (commingled funds. ) Tj ET Q q 0 0 0 rg BT 143.84 215.25 Td (The commingled funds are valued using the funds' NA) Tj ET Q q 0 0 0 rg BT 394.18 215.25 Td (V) Tj ET Q q 0 0 0 rg BT 402.28 215.25 Td ( as a practical expedient. ) Tj ET Q q 0 0 0 rg BT 521.17 215.25 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (funds' NA) Tj ET Q q 0 0 0 rg BT 95.13 201.45 Td (V) Tj ET Q q 0 0 0 rg BT 103.23 201.45 Td ( is primarily derived from the quoted active market prices of the underlying equity securities held ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (by the funds. ) Tj ET Q q 0 0 0 rg BT 114.77 187.65 Td (W) Tj ET Q q 0 0 0 rg BT 124.71 187.65 Td (e may transact in these commingled funds on a semi-monthly basis at the NA) Tj ET Q q 0 0 0 rg BT 479.33 187.65 Td (V) Tj ET Q q 0 0 0 rg BT 486.16 187.65 Td (. ) Tj ET Q q 0 0 0 rg BT 494.57 187.65 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (commingled funds are maintained by a bank and hold investments in accordance with the stated objective of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (tracking the performance of the S&P) Tj ET Q q 0 0 0 rg BT 218.65 160.05 Td ( 500 Index. Because the commingled funds' shares are of) Tj ET Q q 0 0 0 rg BT 483.34 160.05 Td (fered to a limited ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (group of investors, they are not considered to be traded in an active market. ) Tj ET Q q 0 0 0 rg BT 401.74 146.25 Td (As these instruments are valued ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (using NA) Tj ET Q q 0 0 0 rg BT 92.42 132.45 Td (V) Tj ET Q q 0 0 0 rg BT 99.25 132.45 Td (, as a practical expedient, they have not been classified within the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 492.54 132.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 104.85 Td (The nuclear decommissioning trust and other special use funds may also hold equity securities that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (include exchange traded mutual funds and money market accounts for short-term liquidity purposes. ) Tj ET Q q 0 0 0 rg BT 517.16 91.05 Td (These ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (short-term, highly-liquid, investments are valued using active market prices. ) Tj ET Q endstream endobj 107 0 obj <> endobj 108 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (51) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 712.25 Td (Fair V) Tj ET Q q 0 0 0 rg BT 115.86 712.25 Td (alue T) Tj ET Q q 0 0 0 rg BT 145.15 712.25 Td (ables) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 698.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.65 Td (The following table presents the fair value at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.35 684.65 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 367.49 684.65 Td ( of our assets and liabilities that are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (measured at fair value on a recurring basis \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 657.05 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 582.55 167.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 582.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 582.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 582.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 582.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 582.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 582.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 582.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 582.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 582.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 582.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 582.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 542.55 167.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 542.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 542.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 542.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 542.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 542.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 542.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 542.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 542.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 542.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 542.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 542.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 512.55 167.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 512.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 512.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 512.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 512.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 512.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 512.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 512.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 512.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 512.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 512.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 512.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 482.55 167.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 482.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 482.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 482.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 482.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 482.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 482.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 482.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 482.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 482.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 482.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 482.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 452.55 167.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 452.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 452.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 452.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 452.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 452.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 452.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 452.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 452.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 452.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 452.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 452.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 422.55 167.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 422.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 422.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 422.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 422.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 422.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 422.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 422.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 422.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 422.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 422.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 422.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 392.55 167.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 392.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 392.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 392.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 392.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 392.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 392.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 392.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 392.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 392.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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1 rg /GS0 gs 287.00 232.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 232.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 232.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 232.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 232.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 232.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 232.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 232.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 232.55 64.00 -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 217 582.55 m 281 582.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 582.55 m 338 582.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 582.55 m 409 582.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 582.55 m 466 582.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 582.55 m 556 582.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 407.54999999999995 m 281 407.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 407.54999999999995 m 338 407.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 407.54999999999995 m 409 407.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 407.54999999999995 m 466 407.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 407.54999999999995 m 556 407.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 407.54999999999995 m 281 407.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 392.54999999999995 m 281 392.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 407.54999999999995 m 338 407.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 392.54999999999995 m 338 392.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 407.54999999999995 m 409 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472.50 502.22 Td (\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.65 502.22 Td (6,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 487.22 Td (U.S. commingled equity funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 487.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.15 487.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 487.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.60 487.22 Td (413,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 487.22 Td (\(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 487.22 Td (413,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 472.22 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 78.69 472.22 Td (T) Tj ET Q q 0 0 0 rg BT 84.54 472.22 Td (reasury debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.65 472.22 Td (128,396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.15 472.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 472.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 472.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 472.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 472.22 Td (128,396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 457.22 Td (Corporate debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 457.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.60 457.22 Td (1) Tj ET Q q 0 0 0 rg BT 306.60 457.22 Td (1) Tj ET Q q 0 0 0 rg BT 311.60 457.22 Td (1,735) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 457.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 457.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 457.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 457.22 Td (1) Tj ET Q q 0 0 0 rg BT 524.65 457.22 Td (1) Tj ET Q q 0 0 0 rg BT 529.65 457.22 Td (1,735) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 442.22 Td (Mortgage-backed debt securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 442.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.60 442.22 Td (108,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 442.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 442.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 442.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 442.22 Td (108,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 427.22 Td (Municipal bonds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 427.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 427.22 Td (80,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 427.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 427.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 427.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.65 427.22 Td (80,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 412.22 Td (Other fixed income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 412.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 412.22 Td (1) Tj ET Q q 0 0 0 rg BT 311.65 412.22 Td (1,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 412.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 412.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 412.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.65 412.22 Td (1) Tj ET Q q 0 0 0 rg BT 529.65 412.22 Td (1,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 397.22 Td (Subtotal nuclear decommissioning trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.65 397.22 Td (134,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.60 397.22 Td (312,845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 397.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.60 397.22 Td (413,623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 397.22 Td (861,439) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 367.22 Td (Other special use funds:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 352.22 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 78.69 352.22 Td (T) Tj ET Q q 0 0 0 rg BT 84.54 352.22 Td (reasury debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.65 352.22 Td (174,1) Tj ET Q q 0 0 0 rg BT 267.15 352.22 Td (1) Tj ET Q q 0 0 0 rg BT 272.15 352.22 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.15 352.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 352.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 352.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 352.22 Td (174,1) Tj ET Q q 0 0 0 rg BT 542.15 352.22 Td (1) Tj ET Q q 0 0 0 rg BT 547.15 352.22 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 337.22 Td (Municipal bonds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 337.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 337.22 Td (27,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 337.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 337.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.65 337.22 Td (27,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 322.22 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 322.22 Td (14,963) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.15 322.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 322.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 322.22 Td (1,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 322.22 Td (\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.65 322.22 Td (16,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 307.22 Td (Subtotal other special use funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.65 307.22 Td (189,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 307.22 Td (27,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 307.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 307.22 Td (1,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 307.22 Td (217,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 277.22 Td (T) Tj ET Q q 0 0 0 rg BT 64.26 277.22 Td (otal ) Tj ET Q q 0 0 0 rg BT 81.13 277.22 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.50 277.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.65 277.22 Td (324,045) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.50 277.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.60 277.22 Td (345,536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.50 277.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 277.22 Td (1,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.50 277.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.60 277.22 Td (410,296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 277.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 277.22 Td (1,081,425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 262.22 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.50 262.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.50 262.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.50 262.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.50 262.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 262.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.50 262.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 247.22 Td (Risk management activities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 237.22 Td (derivative instruments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.50 237.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.50 237.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.50 237.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.50 237.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 237.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.50 237.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 222.22 Td (Commodity contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.50 222.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 222.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.50 222.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.30 222.27 Td (\(97,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 222.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.50 222.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.30 222.27 Td (\(21,302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 222.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.50 222.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 222.22 Td (3,075) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 222.22 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 222.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.30 222.27 Td (\(1) Tj ET Q q 0 0 0 rg BT 524.63 222.27 Td (15,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 222.22 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 190.45 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 190.45 Td (Primarily consists of long-dated electricity contracts.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 176.65 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 176.65 Td (Represents counterparty netting, mar) Tj ET Q q 0 0 0 rg BT 255.19 176.65 Td (gin and collateral. See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 385.47 176.65 Td (7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.22 176.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 162.85 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 162.85 Td (Represents net pending securities sales and purchases.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 149.05 Td (\(d\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 149.05 Td (V) Tj ET Q q 0 0 0 rg BT 92.53 149.05 Td (alued using NA) Tj ET Q q 0 0 0 rg BT 163.23 149.05 Td (V) Tj ET Q q 0 0 0 rg BT 171.33 149.05 Td ( as a practical expedient and, therefore, are not classified in the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 553.10 149.05 Td (.) Tj ET Q endstream endobj 109 0 obj <> endobj 110 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (52) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 712.05 Td (The following table presents the fair value at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.35 712.05 Td (December31, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 384.72 712.05 Td ( of our assets and liabilities that are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (measured at fair value on a recurring basis \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 609.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 609.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 609.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 609.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 609.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 609.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 609.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 609.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 609.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 609.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 609.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 609.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 569.95 170.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 569.95 61.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 569.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 569.95 61.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 569.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 569.95 61.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 569.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 569.95 61.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 569.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 569.95 18.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 569.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 569.95 61.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 519.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 519.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 519.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 519.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 519.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 519.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 519.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 519.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 519.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 519.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 519.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 519.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 489.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 489.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 489.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 489.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 489.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 489.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 489.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 489.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 489.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 489.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 489.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 489.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 459.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 459.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 459.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 459.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 459.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 459.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 459.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 459.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 459.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 459.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 459.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 459.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 429.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 429.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 429.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 429.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 429.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 429.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 429.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 429.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 429.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 429.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 429.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 429.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 399.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 399.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 399.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 399.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 399.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 399.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 399.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 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10.00 Tf ET q 0 0 0 rg BT 397.15 464.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 464.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 464.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 464.62 Td (127,662) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 449.62 Td (Corporate debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 449.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 449.62 Td (1) Tj ET Q q 0 0 0 rg BT 314.65 449.62 Td (14,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 449.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 449.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 449.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 449.62 Td (1) Tj ET Q q 0 0 0 rg BT 531.65 449.62 Td (14,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 434.62 Td (Mortgage-backed debt securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 434.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 434.62 Td (1) Tj ET Q q 0 0 0 rg BT 314.65 434.62 Td (1) Tj ET Q q 0 0 0 rg BT 319.65 434.62 Td (1,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 434.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 434.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 434.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 434.62 Td (1) Tj ET Q q 0 0 0 rg BT 531.65 434.62 Td (1) Tj ET Q q 0 0 0 rg BT 536.65 434.62 Td (1,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 419.62 Td (Municipal bonds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 419.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 419.62 Td (79,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 419.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 419.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 419.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 419.62 Td (79,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 404.62 Td (Other fixed income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 404.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 404.62 Td (13,685) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 404.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 404.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 404.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 404.62 Td (13,685) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 389.62 Td (Subtotal nuclear decommissioning trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.65 389.62 Td (134,886) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 389.62 Td (318,615) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 389.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 389.62 Td (417,499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 389.62 Td (871,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 359.62 Td (Other special use funds \(c\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.15 359.62 Td (455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 359.62 Td (31,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 359.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 359.62 Td (525) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 359.62 Td (32,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 329.62 Td (T) Tj ET Q q 0 0 0 rg BT 58.26 329.62 Td (otal ) Tj ET Q q 0 0 0 rg BT 75.13 329.62 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.50 329.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.65 329.62 Td (145,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.50 329.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 329.62 Td (355,860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.50 329.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 329.62 Td (1,036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.50 329.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 329.62 Td (413,287) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 329.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 329.62 Td (916,154) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 314.62 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.50 314.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 314.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.50 314.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 314.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 314.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 314.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 299.62 Td (Risk management activities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 289.62 Td (derivative instruments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.50 289.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 289.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.50 289.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 289.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 289.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 289.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 274.62 Td (Commodity contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.50 274.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 274.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.50 274.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.30 274.67 Td (\(78,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 274.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.50 274.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.30 274.67 Td (\(19,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 274.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.50 274.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 274.62 Td (1,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 274.62 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 274.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 274.67 Td (\(96,422) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 274.62 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 242.85 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 242.85 Td (Primarily consists of long-dated electricity contracts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 229.05 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 229.05 Td (Represents counterparty netting, mar) Tj ET Q q 0 0 0 rg BT 255.19 229.05 Td (gin, and collateral. See Note 7.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 215.25 Td (\(c\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 215.25 Td (Primarily consists of fixed income municipal bonds. Presented as coal reclamation escrow in 2017.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 201.45 Td (\(d\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 201.45 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 67.50 187.65 Td (\(e\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 187.65 Td (V) Tj ET Q q 0 0 0 rg BT 92.53 187.65 Td (alued using NA) Tj ET Q q 0 0 0 rg BT 163.23 187.65 Td (V) Tj ET Q q 0 0 0 rg BT 171.33 187.65 Td ( as a practical expedient and, therefore, are not classified in the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 553.10 187.65 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (Fair) Tj ET Q q 0 0 0 rg BT 70.37 146.25 Td ( ) Tj ET Q q 0 0 0 rg BT 73.03 146.25 Td (V) Tj ET Q q 0 0 0 rg BT 80.28 146.25 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 141.08 146.25 Td (ements Classified as Level 3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 118.65 Td (The significant unobservable inputs used in the fair value measurement of our ener) Tj ET Q q 0 0 0 rg BT 466.59 118.65 Td (gy derivative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 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 91.05 Td (nature of the quote. Significant changes in these inputs in isolation would result in significantly higher or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (lower fair value measurements. Changes in our derivative contract fair values, including changes relating to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (unobservable inputs, typically will not impact net income due to regulatory accounting treatment \(see Note 4\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 49.65 Td () Tj ET Q endstream endobj 111 0 obj <> endobj 112 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (53) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 712.05 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 49.50 698.25 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 49.50 684.45 Td (related contracts. Conversely) Tj ET Q q 0 0 0 rg BT 185.43 684.45 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 49.50 670.65 Td (related contracts would likely decrease.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 656.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 643.05 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 49.50 629.25 Td (impact on our valuations; however) Tj ET Q q 0 0 0 rg BT 208.72 629.25 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 49.50 615.45 Td (value measurements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 601.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 587.85 Td (The 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 49.50 574.05 Td (our risk management derivative Level 3 instruments at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.71 574.05 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.85 574.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 399.20 574.05 Td (December31, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.58 574.05 Td (:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 512.75 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.00 512.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 512.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 512.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 512.75 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 512.75 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 512.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 472.75 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.00 472.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 472.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 472.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 472.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 472.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 472.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 472.75 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 472.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 472.75 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 472.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 472.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 432.75 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.00 432.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 432.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.00 432.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 432.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 432.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 432.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 432.75 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 432.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 432.75 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 432.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 432.75 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 160 526.75 m 208 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 208 526.75 m 212 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 526.75 m 261 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 512.75 m 160 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 512.75 m 208 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 512.75 m 261 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 512.75 m 330 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 512.75 m 426 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 512.75 m 515 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 512.75 m 575 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 432.75 m 208 432.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 432.75 m 261 432.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 432.75 m 208 432.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 418.75 m 208 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 416.75 m 208 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 432.75 m 261 432.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 418.75 m 261 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 416.75 m 261 416.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 531.20 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 180.20 540.20 Td (Mar) Tj ET Q q 0 0 0 rg BT 197.11 540.20 Td (ch 31, 2018) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 165.15 531.20 Td ( Fair) Tj ET Q q 0 0 0 rg BT 183.81 531.20 Td ( ) Tj ET Q q 0 0 0 rg BT 185.90 531.20 Td (V) Tj ET Q q 0 0 0 rg BT 191.90 531.20 Td (alue \(thousands\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.40 526.20 Td (V) Tj ET Q q 0 0 0 rg BT 284.49 526.20 Td (aluation) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 277.15 517.20 Td (T) Tj ET Q q 0 0 0 rg BT 282.74 517.20 Td (echnique) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 358.70 526.20 Td (Significant) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.10 517.20 Td (Unobservable Input) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.00 531.20 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 526.75 526.20 Td (W) Tj ET Q q 0 0 0 rg BT 535.50 526.20 Td (eighted-) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 530.80 517.20 Td (A) Tj ET Q q 0 0 0 rg BT 536.97 517.20 Td (verage) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 517.20 Td (CommodityContracts) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 171.50 517.20 Td (Assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 216.70 517.20 Td (Liabilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.75 517.20 Td (Range) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 502.42 Td (Electricity:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.50 502.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.50 502.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.50 502.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 502.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.50 502.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 571.50 502.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 477.42 Td (Forward Contracts \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.50 477.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.65 477.42 Td (1,028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.50 477.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.65 477.42 Td (14,683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 487.42 Td (Discounted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 477.42 Td (cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.50 487.42 Td (Electricity forward) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.50 477.42 Td (price \(per MWh\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 477.42 Td ($14.93 - $37.58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.50 477.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 477.42 Td (26.86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 462.42 Td (Natural Gas:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.50 462.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.50 462.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 462.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.50 462.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 462.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 571.50 462.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 437.42 Td (Forward Contracts \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.15 437.42 Td (520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.65 437.42 Td (6,619) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 447.42 Td (Discounted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 437.42 Td (cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.50 447.42 Td (Natural gas forward) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.50 437.42 Td (price \(per MMBtu\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.30 437.42 Td ($1.80 - $3.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.50 437.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 437.42 Td (2.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 422.42 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 422.42 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.50 422.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.65 422.42 Td (1,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.50 422.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.65 422.42 Td (21,302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 422.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.50 422.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 422.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 571.50 422.42 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 390.65 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 390.65 Td (Includes swaps and physical and financial contracts.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 329.35 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.00 329.35 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 329.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 329.35 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 329.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 329.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 329.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 329.35 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 329.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 329.35 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 329.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.00 329.35 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 289.35 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.00 289.35 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 289.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 289.35 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 289.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 289.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 289.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 289.35 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 289.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 289.35 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 289.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.00 289.35 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 249.35 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.00 249.35 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 249.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 249.35 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 249.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 249.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 249.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 249.35 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 249.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 249.35 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 249.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.00 249.35 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 160 343.35 m 214 343.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 343.35 m 218 343.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218 343.35 m 272 343.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 329.35 m 160 329.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 329.35 m 214 329.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218 329.35 m 272 329.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276 329.35 m 341 329.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345 329.35 m 437 329.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 329.35 m 526 329.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 530 329.35 m 586 329.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 249.35000000000002 m 214 249.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218 249.35000000000002 m 272 249.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 249.35000000000002 m 214 249.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 235.35000000000002 m 214 235.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 233.35000000000002 m 214 233.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218 249.35000000000002 m 272 249.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218 235.35000000000002 m 272 235.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218 233.35000000000002 m 272 233.35000000000002 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 347.80 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 179.20 356.80 Td (December) Tj ET Q q 0 0 0 rg BT 218.09 356.80 Td ( 31, 2017) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 170.65 347.80 Td ( Fair) Tj ET Q q 0 0 0 rg BT 189.31 347.80 Td ( ) Tj ET Q q 0 0 0 rg BT 191.40 347.80 Td (V) Tj ET Q q 0 0 0 rg BT 197.40 347.80 Td (alue \(thousands\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 289.40 342.80 Td (V) Tj ET Q q 0 0 0 rg BT 295.49 342.80 Td (aluation) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 288.15 333.80 Td (T) Tj ET Q q 0 0 0 rg BT 293.74 333.80 Td (echnique) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 369.70 342.80 Td (Significant) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.10 333.80 Td (UnobservableInput) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 483.00 347.80 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 537.75 342.80 Td (W) Tj ET Q q 0 0 0 rg BT 546.50 342.80 Td (eighted-) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 541.80 333.80 Td (A) Tj ET Q q 0 0 0 rg BT 547.97 333.80 Td (verage) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 333.80 Td (CommodityContracts) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 174.50 333.80 Td (Assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 225.20 333.80 Td (Liabilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.75 333.80 Td (Range) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 319.02 Td (Electricity:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.50 319.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 319.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.50 319.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.50 319.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.00 319.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 582.50 319.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 294.02 Td (Forward Contracts \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.50 294.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.15 294.02 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.50 294.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 294.02 Td (15,485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.50 304.02 Td (Discounted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.50 294.02 Td (cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.50 304.02 Td (Electricity forward) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.50 294.02 Td (price \(per MWh\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 294.02 Td ($18.51 - $38.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.50 294.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.65 294.02 Td (27.89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 279.02 Td (Natural Gas:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.50 279.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 279.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.50 279.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.50 279.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.00 279.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 582.50 279.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 254.02 Td (Forward Contracts \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.65 254.02 Td (1,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.65 254.02 Td (3,807) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.50 264.02 Td (Discounted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.50 254.02 Td (cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.50 264.02 Td (Natural gas forward) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.50 254.02 Td (price \(per MMBtu\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 254.02 Td ($2.33 - $3.1) Tj ET Q q 0 0 0 rg BT 504.46 254.02 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.50 254.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 564.65 254.02 Td (2.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 239.02 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 239.02 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.50 239.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.65 239.02 Td (1,036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.50 239.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 239.02 Td (19,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.50 239.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.50 239.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.00 239.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 582.50 239.02 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 207.25 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 207.25 Td (Includes swaps and physical and financial contracts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 193.45 Td () Tj ET Q endstream endobj 113 0 obj <> endobj 114 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (54) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 712.05 Td (The following table shows the changes in fair value for our risk management activities' assets and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (liabilities that are measured at fair value on a recurring basis using Level 3 inputs for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.86 698.25 Td (three months ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.64 684.45 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 144.99 684.45 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 167.99 684.45 Td ( \(dollars in thousands\):) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 622.15 374.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 622.15 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 622.15 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 622.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 622.15 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 592.15 374.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 592.15 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 592.15 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 592.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 592.15 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 562.15 374.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 562.15 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 562.15 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 562.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 562.15 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 532.15 374.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 532.15 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 532.15 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 532.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 532.15 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 507.15 374.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 507.15 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 507.15 63.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 507.15 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 507.15 63.00 -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 429 636.15 m 492 636.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 636.15 m 496 636.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 636.15 m 559 636.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 622.15 m 424 622.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 622.15 m 492 622.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 636.15 m 559 636.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 622.15 m 559 622.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 622.15 m 492 622.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 622.15 m 559 622.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 532.15 m 492 532.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 518.15 m 492 518.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 516.15 m 492 516.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 532.15 m 559 532.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 518.15 m 559 518.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 516.15 m 559 516.15 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 640.83 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.00 650.83 Td (Thr) Tj ET Q q 0 0 0 rg BT 464.58 650.83 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.40 640.83 Td (Mar) Tj ET Q q 0 0 0 rg BT 491.69 640.83 Td (ch 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 626.83 Td (CommodityContracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.00 626.83 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.00 626.83 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 611.82 Td (Net derivative balance at beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 611.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.30 611.87 Td (\(18,256) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 611.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.50 611.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.30 611.87 Td (\(47,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.15 611.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 596.82 Td (T) Tj ET Q q 0 0 0 rg BT 58.26 596.82 Td (otal net gains \(losses\) realized/unrealized:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.50 596.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 596.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.50 596.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 581.82 Td (Deferred as a regulatory asset or liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.30 581.87 Td (\(2,322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 581.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.30 581.87 Td (\(1) Tj ET Q q 0 0 0 rg BT 532.63 581.87 Td (1,755) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.15 581.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 566.82 Td (Settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 566.82 Td (782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.65 566.82 Td (1,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 551.82 Td (T) Tj ET Q q 0 0 0 rg BT 58.43 551.82 Td (ransfers into Level 3 from Level 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.30 551.87 Td (\(2,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 551.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 551.87 Td (\(38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.15 551.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 536.82 Td (T) Tj ET Q q 0 0 0 rg BT 58.43 536.82 Td (ransfers from Level 3 into Level 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 536.82 Td (2,487) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 536.82 Td (16,091) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 521.82 Td (Net derivative balance at end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 521.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.30 521.87 Td (\(19,754) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 521.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.50 521.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.30 521.87 Td (\(41,685) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.15 521.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 486.82 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 431.50 486.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 486.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.50 486.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 486.82 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 455.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 455.05 Td (T) Tj ET Q q 0 0 0 rg BT 92.12 455.05 Td (ransfers ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 131.39 455.05 Td (between levels in the fair value hierarchy shown in the table above ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 427.67 455.05 Td (reflect the fair market value ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 441.25 Td (at the beginning of the period and are triggered by a change in the lowest significant input as of the end of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 427.45 Td (period. ) Tj ET Q q 0 0 0 rg BT 87.30 427.45 Td (W) Tj ET Q q 0 0 0 rg BT 97.23 427.45 Td (e had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 124.69 427.45 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 136.19 427.45 Td ( significant Level 1 transfers to or from any other hierarchy level. ) Tj ET Q q 0 0 0 rg BT 443.18 427.45 Td (T) Tj ET Q q 0 0 0 rg BT 449.80 427.45 Td (ransfers in or out of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 413.65 Td (Level 3 are typically related to our long-dated ener) Tj ET Q q 0 0 0 rg BT 283.03 413.65 Td (gy transactions that extend beyond available quoted periods.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 399.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 386.05 Td (Financial Instruments Not Carried at Fair) Tj ET Q q 0 0 0 rg BT 257.24 386.05 Td ( ) Tj ET Q q 0 0 0 rg BT 259.90 386.05 Td (V) Tj ET Q q 0 0 0 rg BT 267.15 386.05 Td (alue) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 372.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 358.45 Td (The carrying value of our short-term borrowings approximate fair value and are classified within Level ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 344.65 Td (2 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 176.79 344.65 Td (.See Note 3 for our long-term debt fair values.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 317.05 Td (12) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 61.00 317.05 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 317.05 Td (Investments in Nuclear) Tj ET Q q 0 0 0 rg BT 199.01 317.05 Td ( Decommissioning ) Tj ET Q q 0 0 0 rg BT 290.80 317.05 Td (T) Tj ET Q q 0 0 0 rg BT 297.62 317.05 Td (rusts and Other) Tj ET Q q 0 0 0 rg BT 375.37 317.05 Td ( Special Use Funds) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 467.71 317.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 303.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 289.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 289.45 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 289.45 Td (e have investments in debt and equity securities held in Nuclear Decommissioning ) Tj ET Q q 0 0 0 rg BT 477.84 289.45 Td (T) Tj ET Q q 0 0 0 rg BT 484.46 289.45 Td (rusts, Coal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 275.65 Td (Reclamation Escrow ) Tj ET Q q 0 0 0 rg BT 147.23 275.65 Td (Accounts, and an ) Tj ET Q q 0 0 0 rg BT 228.98 275.65 Td (Active Union Employee Medical ) Tj ET Q q 0 0 0 rg BT 383.99 275.65 Td (T) Tj ET Q q 0 0 0 rg BT 390.61 275.65 Td (rust. Investments in debt securities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 261.85 Td (are classified as available-for) Tj ET Q q 0 0 0 rg BT 183.69 261.85 Td (-sale securities. ) Tj ET Q q 0 0 0 rg BT 260.12 261.85 Td (W) Tj ET Q q 0 0 0 rg BT 270.05 261.85 Td (e record both debt and equity security investments at their fair ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 248.05 Td (value on our Condensed Consolidated Balance Sheets. See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 347.80 248.05 Td (1) Tj ET Q q 0 0 0 rg BT 353.12 248.05 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 358.87 248.05 Td ( for a discussion of how fair value is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 234.25 Td (determined and the classification of the investments within the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 429.73 234.25 Td (. ) Tj ET Q q 0 0 0 rg BT 438.15 234.25 Td (The investments in each ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 220.45 Td (trust or escrow account are restricted for use and are intended to fund specified costs and activities as further ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 206.65 Td (described for each fund below) Tj ET Q q 0 0 0 rg BT 187.97 206.65 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 179.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 179.05 Td (Nuclear) Tj ET Q q 0 0 0 rg BT 124.25 179.05 Td ( Decommissioning ) Tj ET Q q 0 0 0 rg BT 216.05 179.05 Td (T) Tj ET Q q 0 0 0 rg BT 222.86 179.05 Td (rusts ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 250.02 179.05 Td (- ) Tj ET Q q 0 0 0 rg BT 256.52 179.05 Td (T) Tj ET Q q 0 0 0 rg BT 262.74 179.05 Td (o fund the future costs ) Tj ET Q q 0 0 0 rg BT 367.82 179.05 Td (APS expects to incur to decommission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 165.25 Td (Palo ) Tj ET Q q 0 0 0 rg BT 72.61 165.25 Td (V) Tj ET Q q 0 0 0 rg BT 79.64 165.25 Td (erde, ) Tj ET Q q 0 0 0 rg BT 104.55 165.25 Td (APS established external decommissioning trusts in accordance with NRC regulations. ) Tj ET Q q 0 0 0 rg BT 509.97 165.25 Td (Third-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 151.45 Td (party investment managers are authorized to buy and sell securities per stated investment guidelines. ) Tj ET Q q 0 0 0 rg BT 517.47 151.45 Td (The trust ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 137.65 Td (funds are invested in fixed income securities and equity securities. Earnings and proceeds from sales and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 123.85 Td (maturities of securities are reinvested in the trusts. Because of the ability of ) Tj ET Q q 0 0 0 rg BT 398.24 123.85 Td (APS to recover decommissioning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 110.05 Td (costs in rates, and in accordance with the regulatory treatment, ) Tj ET Q q 0 0 0 rg BT 339.46 110.05 Td (APS has deferred realized and unrealized gains ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 96.25 Td (and losses \(including other) Tj ET Q q 0 0 0 rg BT 172.88 96.25 Td (-than-temporary impairments\) in other regulatory liabilities. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 82.45 Td ( ) Tj ET Q endstream endobj 115 0 obj <> endobj 116 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (55) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 712.25 Td (Coal Reclamation Escr) Tj ET Q q 0 0 0 rg BT 198.36 712.25 Td (ow ) Tj ET Q q 0 0 0 rg BT 214.65 712.25 Td (Accounts -) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 266.72 712.25 Td ( ) Tj ET Q q 0 0 0 rg BT 268.96 712.25 Td (APS and 4CA) Tj ET Q q 0 0 0 rg BT 333.50 712.25 Td ( have investments restricted for the future coal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.45 Td (mine reclamation funding related to Four Corners. ) Tj ET Q q 0 0 0 rg BT 283.71 698.45 Td (These escrow accounts are primarily invested in fixed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.65 Td (income securities. Earnings and proceeds from sales of securities are reinvested in the escrow accounts. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (Because of the ability of ) Tj ET Q q 0 0 0 rg BT 164.15 670.85 Td (APS to recover coal reclamation costs in rates, and in accordance with the regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 657.05 Td (treatment, ) Tj ET Q q 0 0 0 rg BT 98.04 657.05 Td (APS has deferred realized and unrealized gains and losses \(including other) Tj ET Q q 0 0 0 rg BT 441.43 657.05 Td (-than-temporary ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.25 Td (impairments\) in other regulatory liabilities. ) Tj ET Q q 0 0 0 rg BT 250.07 643.25 Td (Activities relating to ) Tj ET Q q 0 0 0 rg BT 346.85 643.25 Td (APS coal reclamation escrow account ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.45 Td (investments are included within the other special use funds below) Tj ET Q q 0 0 0 rg BT 351.20 629.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.85 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 601.85 Td (Active Union Employee Medical ) Tj ET Q q 0 0 0 rg BT 246.27 601.85 Td (T) Tj ET Q q 0 0 0 rg BT 253.09 601.85 Td (rust -) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 279.60 601.85 Td ( ) Tj ET Q q 0 0 0 rg BT 281.84 601.85 Td (APS has investments restricted for paying active union ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 588.05 Td (employee medical costs. ) Tj ET Q q 0 0 0 rg BT 164.90 588.05 Td (These investments were transferred from ) Tj ET Q q 0 0 0 rg BT 355.54 588.05 Td (APS other postretirement benefit trust assets ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.25 Td (into the active union employee medical trust in January 2018 \(see Note 7 in the 2017 Form 10-K\). ) Tj ET Q q 0 0 0 rg BT 503.77 574.25 Td (These ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.45 Td (investments may be used to pay active union employee medical costs incurred in the current period and in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.65 Td (future periods. ) Tj ET Q q 0 0 0 rg BT 119.23 546.65 Td (The trust fund is invested primarily in fixed income securities. In accordance with the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.85 Td (ratemaking treatment, ) Tj ET Q q 0 0 0 rg BT 152.64 532.85 Td (APS has deferred the unrealized gains and losses \(including other) Tj ET Q q 0 0 0 rg BT 454.21 532.85 Td (-than-temporary ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 519.05 Td (impairments\) in other regulatory assets. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 234.73 519.05 Td (Activities relating to active union employee medical trust investments are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 505.85 Td (included within the other special use funds below) Tj ET Q q 0 0 0 rg BT 266.59 505.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.25 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 478.25 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 450.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 450.65 Td (The following tables present the unrealized gains and losses based on the original cost of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.85 Td (investment and summarizes the fair value of ) Tj ET Q q 0 0 0 rg BT 255.48 436.85 Td (APS's nuclear decommissioning trust and other special use fund ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.05 Td (assets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 90.38 423.05 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 163.52 423.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 185.87 423.05 Td (December31, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 276.25 423.05 Td ( \(dollars in thousands\): ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 337.75 179.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 229.00 337.75 81.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 337.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 337.75 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 337.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 337.75 51.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 337.75 22.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 337.75 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 337.75 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 337.75 54.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 305.75 179.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 229.00 305.75 81.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 305.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 305.75 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 305.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 305.75 51.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 305.75 22.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 305.75 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 305.75 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 305.75 54.00 -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 229 385.75 m 310 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 385.75 m 314 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 385.75 m 371 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 385.75 m 375 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 385.75 m 426 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426 385.75 m 448 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 385.75 m 504 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 385.75 m 509 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 385.75 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 229 369.75 m 310 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 369.75 m 314 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 369.75 m 371 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 369.75 m 375 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 369.75 m 426 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 229 337.75 m 310 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 369.75 m 371 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 337.75 m 371 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 369.75 m 426 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 337.75 m 426 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 337.75 m 504 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 337.75 m 563 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 229 337.75 m 310 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 337.75 m 371 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 337.75 m 426 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 337.75 m 504 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 337.75 m 563 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 229 289.75 m 310 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 229 274.75 m 310 274.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 229 272.75 m 310 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 289.75 m 371 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 274.75 m 371 274.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 272.75 m 371 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 289.75 m 426 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 274.75 m 426 274.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 272.75 m 426 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 289.75 m 504 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 274.75 m 504 274.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 272.75 m 504 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 289.75 m 563 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 274.75 m 563 274.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 272.75 m 563 272.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 365.70 390.15 Td (Mar) Tj ET Q q 0 0 0 rg BT 382.53 390.15 Td (ch 31, 2018) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 374.20 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 306.95 374.20 Td (Fair) Tj ET Q q 0 0 0 rg BT 323.36 374.20 Td () Tj ET Q q 0 0 0 rg BT 325.45 374.20 Td (V) Tj ET Q q 0 0 0 rg BT 331.45 374.20 Td (alue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 465.65 360.20 Td (T) Tj ET Q q 0 0 0 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Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 310.42 Td (A) Tj ET Q q 0 0 0 rg BT 59.35 310.42 Td (vailable for sale-fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.65 310.42 Td (441,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 310.42 Td (199,701) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.60 310.42 Td (640,942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.50 310.42 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 310.42 Td (7,701) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 310.47 Td (\(8,545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 310.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 294.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.80 294.47 Td (\(67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.15 294.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 294.42 Td (1,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 294.42 Td (1,391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.50 294.42 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 294.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 294.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 278.42 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 278.42 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.50 278.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.65 278.42 Td (861,439) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.50 278.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 278.42 Td (215,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.50 278.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.10 278.42 Td (1,077,239) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 278.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 278.42 Td (250,485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.50 278.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 278.47 Td (\(8,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 278.42 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 246.65 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 246.65 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.61 246.65 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 186.75 246.65 Td ( the amortized cost basis of these available-for) Tj ET Q q 0 0 0 rg BT 400.15 246.65 Td (-sale investments is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 493.10 246.65 Td ($642 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 552.20 246.65 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 232.85 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 232.85 Td (Represents net pending securities sales and purchases.) Tj ET Q endstream endobj 117 0 obj <> endobj 118 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (56) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 630.55 177.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.50 630.55 81.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 630.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 630.55 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 630.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 630.55 50.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 630.55 22.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 630.55 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 630.55 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 630.55 54.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 598.55 177.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.50 598.55 81.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 598.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 598.55 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 598.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 598.55 50.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 598.55 22.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 598.55 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 598.55 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 598.55 54.00 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d 0 J 0 j 3 M 369.5 662.55 m 373.5 662.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 662.55 m 423.5 662.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227.5 630.55 m 308.5 630.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 662.55 m 369.5 662.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 630.55 m 369.5 630.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 662.55 m 423.5 662.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 630.55 m 423.5 630.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 630.55 m 501.5 630.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 630.55 m 560.5 630.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227.5 630.55 m 308.5 630.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 630.55 m 369.5 630.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 630.55 m 423.5 630.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 630.55 m 501.5 630.55 l s 0 0 0 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565.55 m 501.5 565.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 582.55 m 560.5 582.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 567.55 m 560.5 567.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 565.55 m 560.5 565.55 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 357.20 682.95 Td (December) Tj ET Q q 0 0 0 rg BT 396.01 682.95 Td ( 31, 2017) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 667.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.95 667.00 Td (Fair) Tj ET Q q 0 0 0 rg BT 321.36 667.00 Td () Tj ET Q q 0 0 0 rg BT 323.45 667.00 Td (V) Tj ET Q q 0 0 0 rg BT 329.45 667.00 Td (alue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 463.15 653.00 Td (T) Tj ET Q q 0 0 0 rg BT 468.33 653.00 Td (otal) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.05 644.00 Td (Unr) Tj ET Q q 0 0 0 rg BT 467.39 644.00 Td (ealized) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 461.70 635.00 Td (Gains) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 523.15 653.00 Td (T) Tj ET Q q 0 0 0 rg BT 528.33 653.00 Td (otal) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 512.05 644.00 Td (Unr) Tj ET Q q 0 0 0 rg BT 527.39 644.00 Td (ealized) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 520.45 635.00 Td (Losses) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 635.00 Td (Investment ) Tj ET Q q 0 0 0 rg BT 98.08 635.00 Td (T) Tj ET Q q 0 0 0 rg BT 103.42 635.00 Td (ype:) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 252.30 653.00 Td (Nuclear) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 233.75 644.00 Td (Decommissioning) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 255.30 635.00 Td (T) Tj ET Q q 0 0 0 rg BT 260.97 635.00 Td (rusts) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 329.05 653.00 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.60 644.00 Td (Special Use) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 328.45 635.00 Td (Funds) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 388.15 635.00 Td (T) Tj ET Q q 0 0 0 rg BT 393.33 635.00 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 619.22 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.00 619.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.15 619.22 Td (424,614) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 619.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 619.22 Td (430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.00 619.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.10 619.22 Td (425,044) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 619.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 619.22 Td (248,623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 619.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 619.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 603.22 Td (A) Tj ET Q q 0 0 0 rg BT 59.85 603.22 Td (vailable for sale-fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.15 603.22 Td (446,277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.15 603.22 Td (29,439) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.10 603.22 Td (475,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.00 603.22 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 603.22 Td (1) Tj ET Q q 0 0 0 rg BT 475.15 603.22 Td (1,537) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.80 603.27 Td (\(2,996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 603.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 587.22 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.65 587.22 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 587.22 Td (489) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 587.22 Td (598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.00 587.22 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 587.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 587.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 571.22 Td (T) Tj ET Q q 0 0 0 rg BT 58.41 571.22 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.00 571.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.15 571.22 Td (871,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 571.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.15 571.22 Td (30,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.00 571.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.10 571.22 Td (901,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 571.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 571.22 Td (260,160) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 571.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.80 571.27 Td (\(2,996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 571.22 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 539.45 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 539.45 Td (As of December 31, 2017 the amortized cost basis of these available-for) Tj ET Q q 0 0 0 rg BT 417.39 539.45 Td (-sale investments is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 510.33 539.45 Td ($467 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 525.65 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.73 525.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 511.85 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 511.85 Td (Represents net pending securities sales and purchases.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 498.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 484.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 484.25 Td (The following table sets forth ) Tj ET Q q 0 0 0 rg BT 223.80 484.25 Td (APS's realized gains and losses relating to the sale and maturity of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 470.45 Td (available-for) Tj ET Q q 0 0 0 rg BT 108.01 470.45 Td (-sale debt securities and equity securities, and the proceeds from the sale and maturity of these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 456.65 Td (investment securities for the three months ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 275.29 456.65 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 348.43 456.65 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 370.78 456.65 Td (March31, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.92 456.65 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 373.35 113.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 373.35 79.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 373.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 373.35 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 373.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.00 373.35 52.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 373.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 373.35 79.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 373.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 373.35 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 373.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 373.35 52.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 341.35 113.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 341.35 79.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 341.35 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 341.35 59.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 341.35 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.00 341.35 52.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 341.35 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 341.35 79.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 341.35 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 341.35 59.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 341.35 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 341.35 52.00 -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 163 406.35 m 242 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 406.35 m 246 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 406.35 m 305 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 406.35 m 309 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 406.35 m 361 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 406.35 m 444 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 406.35 m 448 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 406.35 m 507 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 406.35 m 511 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 406.35 m 563 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 406.35 m 242 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 373.35 m 242 373.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 406.35 m 246 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 406.35 m 305 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 373.35 m 305 373.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 406.35 m 309 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 406.35 m 361 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 373.35 m 361 373.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 406.35 m 444 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 373.35 m 444 373.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 406.35 m 448 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 406.35 m 507 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 373.35 m 507 373.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 406.35 m 511 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 406.35 m 563 406.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 373.35 m 563 373.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 373.35 m 242 373.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 373.35 m 305 373.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 373.35 m 361 373.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 373.35 m 444 373.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 373.35 m 448 373.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 373.35 m 507 373.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 373.35 m 563 373.35 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 411.03 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 220.55 419.80 Td (Thr) Tj ET Q q 0 0 0 rg BT 235.47 419.80 Td (ee Months Ended) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 230.55 410.80 Td (Mar) Tj ET Q q 0 0 0 rg BT 249.71 410.80 Td (ch 31, 2018) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 422.55 419.80 Td (Thr) Tj ET Q q 0 0 0 rg BT 437.47 419.80 Td (ee Months Ended) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 432.55 410.80 Td (Mar) Tj ET Q q 0 0 0 rg BT 451.71 410.80 Td (ch 31, 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 378.03 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 186.80 395.80 Td (Nuclear) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 168.25 386.80 Td (Decommissioning) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 189.80 377.80 Td (T) Tj ET Q q 0 0 0 rg BT 195.47 377.80 Td (rusts) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 248.70 386.80 Td (Other) Tj ET Q q 0 0 0 rg BT 271.61 386.80 Td ( Special) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 254.85 377.80 Td (Use Funds) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 324.65 377.80 Td (T) Tj ET Q q 0 0 0 rg BT 330.24 377.80 Td (otal) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 388.80 395.80 Td (Nuclear) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 370.25 386.80 Td (Decommissioning) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 391.80 377.80 Td (T) Tj ET Q q 0 0 0 rg BT 397.47 377.80 Td (rusts) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.70 386.80 Td (Other) Tj ET Q q 0 0 0 rg BT 473.61 386.80 Td ( Special) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.85 377.80 Td (Use Funds) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 526.65 377.80 Td (T) Tj ET Q q 0 0 0 rg BT 531.83 377.80 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 362.02 Td (Realized gains) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.50 362.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 362.02 Td (814) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.50 362.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.15 362.02 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 362.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 362.02 Td (815) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.50 362.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.65 362.02 Td (2,367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 362.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.15 362.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.50 362.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 362.02 Td (2,367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 346.02 Td (Realized losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.30 346.02 Td (\(2,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.15 346.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 346.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 346.07 Td (\(2,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 346.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.30 346.07 Td (\(2,453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 346.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.80 346.07 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.15 346.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 346.07 Td (\(2,454) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 346.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 331.02 Td (Proceeds from the sale of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 321.02 Td (securities \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.65 321.02 Td (130,456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.65 321.02 Td (2,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.60 321.02 Td (133,01) Tj ET Q q 0 0 0 rg BT 352.10 321.02 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 321.02 Td (151,126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 321.02 Td (2,521) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 321.02 Td (153,647) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 289.25 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 289.25 Td (Proceeds are reinvested in the trust or escrow accounts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 265.45 Td (The fair value of ) Tj ET Q q 0 0 0 rg BT 164.69 265.45 Td (APS's fixed income securities, summarized by contractual maturities, at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 497.95 265.45 Td (March31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 251.65 Td (2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 251.65 Td (, is as follows \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 199.15 146.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.00 199.15 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 199.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.00 199.15 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 199.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 199.15 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 199.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 199.15 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 167.15 146.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.00 167.15 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 167.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.00 167.15 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 167.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 167.15 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 167.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 167.15 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 135.15 146.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.00 135.15 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 135.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.00 135.15 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 135.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 135.15 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 135.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 135.15 89.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 196 199.14999999999998 m 285 199.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 199.14999999999998 m 289 199.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 199.14999999999998 m 378 199.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 199.14999999999998 m 382 199.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 199.14999999999998 m 471 199.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 199.14999999999998 m 475 199.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475 199.14999999999998 m 564 199.14999999999998 l s 0 0 0 RG 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(Accounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.05 213.83 Td (Active Union) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.00 203.83 Td (Medical ) Tj ET Q q 0 0 0 rg BT 432.84 203.83 Td (T) Tj ET Q q 0 0 0 rg BT 439.05 203.83 Td (rust) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.05 203.83 Td (T) Tj ET Q q 0 0 0 rg BT 513.80 203.83 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 187.82 Td (Less than one year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.50 187.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.65 187.82 Td (16,148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.50 187.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 187.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.50 187.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 187.82 Td (30,320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.50 187.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.65 187.82 Td (46,468) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 171.82 Td (1 year 5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.65 171.82 Td (109,466) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.65 171.82 Td (7,541) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 171.82 Td (143,791) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 171.82 Td (260,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 155.82 Td (5 years 10 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.65 155.82 Td (125,206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.65 155.82 Td (2,736) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 155.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 155.82 Td (127,942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 139.82 Td (Greater than 10 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.65 139.82 Td (190,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.65 139.82 Td (15,313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 139.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 139.82 Td (205,734) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 123.82 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 123.82 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.50 123.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.65 123.82 Td (441,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.50 123.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.65 123.82 Td (25,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.50 123.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 123.82 Td (174,1) Tj ET Q q 0 0 0 rg BT 457.15 123.82 Td (1) Tj ET Q q 0 0 0 rg BT 462.15 123.82 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.50 123.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 123.82 Td (640,942) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 92.05 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 92.05 Td (Includes certain fixed income investments that are not due at a single maturity date. ) Tj ET Q q 0 0 0 rg BT 472.66 92.05 Td (These investments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 78.25 Td (have been allocated within the table based on the final payment date of the instrument.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 483.72 78.25 Td ( ) Tj ET Q endstream endobj 119 0 obj <> endobj 120 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (57) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 712.25 Td (4CA) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 684.65 Td (The fair value of 4CA) Tj ET Q q 0 0 0 rg BT 186.41 684.65 Td ( coal reclamation escrow account investments were ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 425.58 684.65 Td ($2 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.19 684.65 Td ( as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.97 684.65 Td (March31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 670.85 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 94.85 670.85 Td ($2 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 142.46 670.85 Td ( as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 170.24 670.85 Td (December31, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 260.61 670.85 Td (. ) Tj ET Q q 0 0 0 rg BT 266.16 670.85 Td (The unrealized gains and losses for these investments were ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 657.05 Td (immaterial as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 127.10 657.05 Td (March31, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 200.24 657.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 222.59 657.05 Td (December31, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.97 657.05 Td (. ) Tj ET Q q 0 0 0 rg BT 318.51 657.05 Td (There were no realized gains and losses and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.25 Td (proceeds from sales and maturities for the three months ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 338.19 643.25 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 411.33 643.25 Td (. Realized gains and losses and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.45 Td (proceeds from sales and maturities for the three months ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 338.19 629.45 Td (March31, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 411.33 629.45 Td ( were immaterial. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 601.85 Td (13) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 61.00 601.85 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 601.85 Td (New ) Tj ET Q q 0 0 0 rg BT 109.46 601.85 Td (Accounting Standards) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 219.05 601.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 588.05 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 568.05 Td (Standards ) Tj ET Q q 0 0 0 rg BT 99.89 568.05 Td (Adopted during 2018 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 548.00 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 534.20 Td (ASU 2014-09, Revenue fr) Tj ET Q q 0 0 0 rg BT 173.22 534.20 Td (om Contracts with Customers) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.60 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 506.60 Td (In May 2014, a new revenue recognition accounting standard was issued. ) Tj ET Q q 0 0 0 rg BT 428.28 506.60 Td (This standard provides a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.80 Td (single comprehensive model for entities to use in accounting for revenue arising from contracts with customers ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 479.00 Td (and supersedes most prior revenue recognition guidance. Since the issuance of the new revenue standard, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.20 Td (additional guidance was issued to clarify certain aspects of the new revenue standard, including principal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.40 Td (versus agent considerations, identifying performance obligations, and other narrow scope improvements. ) Tj ET Q q 0 0 0 rg BT 537.60 451.40 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.60 Td (new revenue standard, and related amendments, were ef) Tj ET Q q 0 0 0 rg BT 306.97 437.60 Td (fective for us on January 1, 2018. ) Tj ET Q q 0 0 0 rg BT 466.45 437.60 Td (The standard may ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.80 Td (be adopted using a full retrospective application or a simplified transition method that allows entities to record ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 410.00 Td (a cumulative ef) Tj ET Q q 0 0 0 rg BT 120.18 410.00 Td (fect adjustment in retained earnings at the date of initial application.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.40 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 382.40 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 382.40 Td (e adopted this standard, and related amendments, on January 1, 2018, using the modified ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.60 Td (retrospective transition approach. ) Tj ET Q q 0 0 0 rg BT 208.64 368.60 Td (The adoption of the new revenue guidance resulted in expanded disclosures, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.80 Td (but otherwise did not have a material impact on our financial statements. See Note 2.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 327.20 Td (ASU 2016-01, Financial Instruments: Recognition and Measur) Tj ET Q q 0 0 0 rg BT 355.66 327.20 Td (ement) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.60 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 299.60 Td ( In January 2016, a new accounting standard was issued relating to the recognition and measurement of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.80 Td (financial instruments. ) Tj ET Q q 0 0 0 rg BT 154.69 285.80 Td (The new guidance requires certain investments in equity securities to be measured at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 272.00 Td (fair value with changes in fair value recognized in net income, and modifies the impairment assessment of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.20 Td (certain equity securities. ) Tj ET Q q 0 0 0 rg BT 167.13 258.20 Td (The new standard was ef) Tj ET Q q 0 0 0 rg BT 281.24 258.20 Td (fective for us on January 1, 2018. ) Tj ET Q q 0 0 0 rg BT 437.84 258.20 Td (The standard required ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.40 Td (modified retrospective application, with the exception of certain aspects of the standard that required ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.60 Td (prospective application. ) Tj ET Q q 0 0 0 rg BT 164.90 230.60 Td (W) Tj ET Q q 0 0 0 rg BT 174.83 230.60 Td (e adopted this standard on January 1, 2018, using primarily a retrospective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.80 Td (approach. Due to regulatory accounting treatment, the adoption of this standard did not have a material impact ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 203.00 Td (on our financial statements. See Notes 1) Tj ET Q q 0 0 0 rg BT 233.99 203.00 Td (1 and 12 for disclosures relating to our investments in debt and equity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 189.20 Td (securities.) Tj ET Q endstream endobj 121 0 obj <> endobj 122 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (58) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 684.65 Td (In ) Tj ET Q q 0 0 0 rg BT 97.32 684.65 Td (August 2016, a new accounting standard was issued that clarifies how entities should present certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (specific cash flow activities on the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 324.90 670.85 Td (The guidance is intended to eliminate diversity in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 657.05 Td (practice in how entities classify these specific activities between cash flows from operating activities, investing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.25 Td (activities and financing activities. ) Tj ET Q q 0 0 0 rg BT 206.73 643.25 Td (The specific activities addressed include debt prepayments and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.45 Td (extinguishment costs, proceeds from the settlement of insurance claims, proceeds from corporate owned life ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.65 Td (insurance policies, and other activities. ) Tj ET Q q 0 0 0 rg BT 231.00 615.65 Td (The standard also addresses how entities should apply the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.85 Td (predominance principle when a transaction includes separately identifiable cash flows. ) Tj ET Q q 0 0 0 rg BT 453.57 601.85 Td (The new standard was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 588.05 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 588.05 Td (fective for us, and was adopted on January 1, 2018 using a retrospective transition method. ) Tj ET Q q 0 0 0 rg BT 481.82 588.05 Td (The adoption of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.25 Td (this guidance did not have a significant impact on our financial statements, as either our statement of cash flow ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.45 Td (presentation is consistent with the new prescribed guidance or we do not have significant activities relating to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.65 Td (the specific transactions that are addressed by the new standard.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 519.05 Td (ASU 2016-18, Statement of Cash Flows: Restricted Cash) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 491.45 Td (In November 2016, a new accounting standard was issued that clarifies how restricted cash and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.65 Td (restricted cash equivalents should be presented on the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 413.04 477.65 Td (The new guidance requires ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.85 Td (entities to include restricted cash and restricted cash equivalents as a component of the beginning and ending ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 450.05 Td (cash and cash equivalent balances on the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 353.94 450.05 Td (The new standard is ef) Tj ET Q q 0 0 0 rg BT 457.84 450.05 Td (fective for us, and was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (adopted on January 1, 2018 using a retrospective transition method. ) Tj ET Q q 0 0 0 rg BT 363.56 436.25 Td (The adoption of this guidance did not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.45 Td (impact our financial statements, as our holdings and activities designated as restricted cash and restricted cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.65 Td (equivalents at transition and in prior periods are insignificant.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 381.05 Td (ASU 2017-01, Business Combinations: Clarifying the Definition of a Business) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 353.45 Td (In January 2017, a new accounting standard was issued that clarifies the definition of a business. ) Tj ET Q q 0 0 0 rg BT 532.41 353.45 Td (This ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.65 Td (standard is intended to assist entities with evaluating whether a transaction should be accounted for as an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.85 Td (acquisition \(or disposal\) of assets or a business. ) Tj ET Q q 0 0 0 rg BT 273.51 325.85 Td (The definition of a business af) Tj ET Q q 0 0 0 rg BT 412.87 325.85 Td (fects many areas of accounting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 312.05 Td (including acquisitions, disposals, goodwill, and consolidation. ) Tj ET Q q 0 0 0 rg BT 340.93 312.05 Td (The new standard was ef) Tj ET Q q 0 0 0 rg BT 455.04 312.05 Td (fective for us, and was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.25 Td (adopted on January 1, 2018, using a prospective transition approach. ) Tj ET Q q 0 0 0 rg BT 367.70 298.25 Td (This standard did not have an impact on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.45 Td (our financial statements on the date of adoption.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 257.45 Td (ASU 2017-05, Other) Tj ET Q q 0 0 0 rg BT 148.63 257.45 Td ( Income: Clarifying the Scope of ) Tj ET Q q 0 0 0 rg BT 309.62 257.45 Td (Asset Der) Tj ET Q q 0 0 0 rg BT 356.99 257.45 Td (ecognition Guidance and ) Tj ET Q q 0 0 0 rg BT 481.28 257.45 Td (Accounting for) Tj ET Q q 0 0 0 rg BT 554.86 257.45 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 243.65 Td (Partial Sales of Nonfinancial ) Tj ET Q q 0 0 0 rg BT 191.98 243.65 Td (Assets) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 216.05 Td (In February 2017, a new accounting standard was issued that intended to clarify the scope of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.25 Td (accounting guidance pertaining to gains and losses from the derecognition of nonfinancial assets, and to add ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 188.45 Td (guidance for partial sales of nonfinancial assets. ) Tj ET Q q 0 0 0 rg BT 275.71 188.45 Td (The new standard was ef) Tj ET Q q 0 0 0 rg BT 389.82 188.45 Td (fective for us, and was adopted on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 174.65 Td (January 1, 2018, using a modified retrospective transition approach. ) Tj ET Q q 0 0 0 rg BT 367.70 174.65 Td (The adoption of this standard did not have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.85 Td (a significant impact on our financial statements) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 267.30 160.85 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 133.25 Td (ASU 2017-07, Compensation-Retir) Tj ET Q q 0 0 0 rg BT 219.55 133.25 Td (ement Benefits: Impr) Tj ET Q q 0 0 0 rg BT 324.10 133.25 Td (oving the Pr) Tj ET Q q 0 0 0 rg BT 383.94 133.25 Td (esentation of Net Periodic Pension ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 119.45 Td (Cost and Net Periodic Postr) Tj ET Q q 0 0 0 rg BT 185.99 119.45 Td (etir) Tj ET Q q 0 0 0 rg BT 203.02 119.45 Td (ement Benefit Cost) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 91.85 Td (In March 2017, a new accounting standard was issued that modifies how plan sponsors present net ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 78.05 Td (periodic pension cost and net periodic postretirement benefit cost \(net benefit costs\). ) Tj ET Q q 0 0 0 rg BT 440.50 78.05 Td (The presentation changes ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 64.25 Td (require net benefit costs to be disaggregated on the income statement by the various components that comprise ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 50.45 Td (these costs. Specifically) Tj ET Q q 0 0 0 rg BT 158.93 50.45 Td (, only the service cost component is eligible for presentation as an operating income ) Tj ET Q endstream endobj 123 0 obj <> endobj 124 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (59) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (item, and all other cost components are now presented as non-operating items. ) Tj ET Q q 0 0 0 rg BT 412.73 712.05 Td (This presentation change must ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (be applied retrospectively) Tj ET Q q 0 0 0 rg BT 167.54 698.25 Td (. Furthermore, the new standard only allows the service cost component to be eligible ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (for capitalization. ) Tj ET Q q 0 0 0 rg BT 133.27 684.45 Td (The change in capitalization requirements must be applied prospectively) Tj ET Q q 0 0 0 rg BT 465.92 684.45 Td (. ) Tj ET Q q 0 0 0 rg BT 471.46 684.45 Td (The new guidance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (was ef) Tj ET Q q 0 0 0 rg BT 78.99 670.65 Td (fective for us on January 1, 2018.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 643.05 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 643.05 Td (e adopted this new accounting standard on January 1, 2018. ) Tj ET Q q 0 0 0 rg BT 374.89 643.05 Td (As a result of adopting this standard we ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (have presented the non-service cost components of net benefits costs in other income instead of operating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (income. Prior year non-service costs components have also been reclassified to conform to this new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (presentation. ) Tj ET Q q 0 0 0 rg BT 111.25 601.65 Td (W) Tj ET Q q 0 0 0 rg BT 121.18 601.65 Td (e elected to apply the practical expedient guidance, as such prior period costs have been ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (estimated based on amounts previously disclosed in our pension and other postretirement benefit plan notes. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (The changes impacting capitalization have been adopted prospectively) Tj ET Q q 0 0 0 rg BT 373.51 574.05 Td (, as such, upon adoption, we are no ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (longer capitalizing a portion of the non-service cost components of net benefit costs. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 532.65 Td (In 2018, because the non-service cost components are a reduction to total benefit costs, we estimate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (this change will result in the capitalization of an additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 322.23 518.85 Td ($15 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 375.59 518.85 Td ( of net benefit costs, with a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (corresponding increase to pretax income for the year) Tj ET Q q 0 0 0 rg BT 291.22 505.05 Td (. For the three months ended March 31, 2018 this change ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (increased pre-tax income by approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 251.63 491.25 Td ($4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 299.23 491.25 Td (. See Note 5.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (ASU 2018-02, Income Statement-Reporting Compr) Tj ET Q q 0 0 0 rg BT 300.03 463.65 Td (ehensive Income: Reclassification of Certain ) Tj ET Q q 0 0 0 rg BT 519.88 463.65 Td (T) Tj ET Q q 0 0 0 rg BT 526.50 463.65 Td (ax ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (Effects fr) Tj ET Q q 0 0 0 rg BT 94.94 449.85 Td (om ) Tj ET Q q 0 0 0 rg BT 112.52 449.85 Td (Accumulated Other) Tj ET Q q 0 0 0 rg BT 209.72 449.85 Td ( Compr) Tj ET Q q 0 0 0 rg BT 247.53 449.85 Td (ehensive Income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 422.25 Td (In February 2018, new accounting guidance was issued that allows entities an optional election to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (reclassify the income tax ef) Tj ET Q q 0 0 0 rg BT 175.74 408.45 Td (fects of the 2017 ) Tj ET Q q 0 0 0 rg BT 255.37 408.45 Td (T) Tj ET Q q 0 0 0 rg BT 261.59 408.45 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 341.46 408.45 Td (Act legislation on items within accumulated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (other comprehensive income to retained earnings. ) Tj ET Q q 0 0 0 rg BT 281.02 394.65 Td (Amounts eligible for reclassification must relate to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 380.85 Td (fects from the ) Tj ET Q q 0 0 0 rg BT 124.76 380.85 Td (T) Tj ET Q q 0 0 0 rg BT 130.98 380.85 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 210.85 380.85 Td (Act remaining in accumulated other comprehensive income. ) Tj ET Q q 0 0 0 rg BT 491.02 380.85 Td (The new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (guidance also requires expanded disclosures. ) Tj ET Q q 0 0 0 rg BT 258.79 367.05 Td (This guidance is ef) Tj ET Q q 0 0 0 rg BT 345.76 367.05 Td (fective for us on January 1, 2019 with early ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (application permitted. ) Tj ET Q q 0 0 0 rg BT 153.08 353.25 Td (The guidance should be applied either in the period of adoption or retrospectively to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (each period in which the ef) Tj ET Q q 0 0 0 rg BT 174.14 339.45 Td (fect of the ) Tj ET Q q 0 0 0 rg BT 223.43 339.45 Td (T) Tj ET Q q 0 0 0 rg BT 229.65 339.45 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 309.51 339.45 Td (Act was recognized. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 311.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 311.85 Td (e early adopted this guidance in the quarter ended March 31, 2018, and we have elected to reclassify ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (the income tax ef) Tj ET Q q 0 0 0 rg BT 128.80 298.05 Td (fects of the ) Tj ET Q q 0 0 0 rg BT 182.56 298.05 Td (T) Tj ET Q q 0 0 0 rg BT 188.78 298.05 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 268.65 298.05 Td (Act related to other comprehensive income activities to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (retained earnings. ) Tj ET Q q 0 0 0 rg BT 133.48 284.25 Td (As of March 31, 2018, on a consolidated basis our accumulated other comprehensive income ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (decreased ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 97.70 270.45 Td ($9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 145.30 270.45 Td (, and ) Tj ET Q q 0 0 0 rg BT 169.90 270.45 Td (APS) Tj ET Q q 0 0 0 rg BT 194.19 270.45 Td (s accumulated other comprehensive income decreased ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 446.45 270.45 Td ($5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 494.05 270.45 Td (, as a result of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (adopting this guidance. ) Tj ET Q q 0 0 0 rg BT 158.74 256.65 Td (Amounts were reclassified from accumulated other comprehensive income to retained ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (earnings, and related to tax rate changes. ) Tj ET Q q 0 0 0 rg BT 239.28 242.85 Td (The adoption of this guidance did not impact our income from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (continuing operations. See Note 15.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (Standards Pending ) Tj ET Q q 0 0 0 rg BT 142.38 201.45 Td (Adoption) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (ASU 2016-02, Leases) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 146.25 Td ( In February 2016, a new lease accounting standard was issued. ) Tj ET Q q 0 0 0 rg BT 380.06 146.25 Td (This new standard supersedes the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (existing lease accounting model, and modifies both lessee and lessor accounting. ) Tj ET Q q 0 0 0 rg BT 423.91 132.45 Td (The new standard will require ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (a lessee to reflect most operating lease arrangements on the balance sheet by recording a right-of-use asset and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (a lease liability that will initially be measured at the present value of lease payments. ) Tj ET Q q 0 0 0 rg BT 441.66 104.85 Td (Among other changes, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (new standard also modifies the definition of a lease, and requires expanded lease disclosures. Since the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (issuance of the new lease standard, additional lease related guidance has been issued relating to land easements ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (and how entities may elect to account for these arrangements at transition. ) Tj ET Q q 0 0 0 rg BT 396.10 63.45 Td (The new lease standard and related ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.65 Td (amendments will be ef) Tj ET Q q 0 0 0 rg BT 153.72 49.65 Td (fective for us on January 1, 2019, with early application permitted. ) Tj ET Q q 0 0 0 rg BT 463.29 49.65 Td (The standard must be ) Tj ET Q endstream endobj 125 0 obj <> endobj 126 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (60) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (adopted using a modified retrospective approach, with various optional practical expedients provided to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (facilitate transition.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 670.65 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 670.65 Td (e plan on adopting this standard, and related amendments, on January 1, 2019, and are evaluating the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (transition practical expedients we may elect. Our evaluation of this new accounting standard and the impacts it ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (will have on our financial statements is on-going. ) Tj ET Q q 0 0 0 rg BT 279.57 643.05 Td (W) Tj ET Q q 0 0 0 rg BT 289.50 643.05 Td (e expect the adoption of the new guidance will impact our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (Consolidated Balance Sheets as we will be required to reflect lease assets and lease liabilities relating to certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (operating lease arrangements. ) Tj ET Q q 0 0 0 rg BT 189.15 615.45 Td (W) Tj ET Q q 0 0 0 rg BT 199.08 615.45 Td (e are currently evaluating the significance of the expected balance sheet ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (impacts, and the impacts, if any) Tj ET Q q 0 0 0 rg BT 194.70 601.65 Td (, the lease guidance will have on our other financial statements. Our evaluation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (includes assessing leasing activities, implementing new processes and procedures, and preparing the expanded ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (lease disclosures.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (ASU 2016-13, Financial Instruments: Measur) Tj ET Q q 0 0 0 rg BT 275.46 546.45 Td (ement of Cr) Tj ET Q q 0 0 0 rg BT 334.01 546.45 Td (edit Losses) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 518.85 Td (In June 2016, a new accounting standard was issued that amends the measurement of credit losses on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (certain financial instruments. ) Tj ET Q q 0 0 0 rg BT 185.97 505.05 Td (The new standard will require entities to use a current expected credit loss model ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (to measure impairment of certain investments in debt securities, trade accounts receivables, and other financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 108.71 477.45 Td (The new standard is ef) Tj ET Q q 0 0 0 rg BT 212.60 477.45 Td (fective for us on January 1, 2020 and must be adopted using a modified ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (retrospective approach for certain aspects of the standard, and a prospective approach for other aspects of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (standard. ) Tj ET Q q 0 0 0 rg BT 96.88 449.85 Td (W) Tj ET Q q 0 0 0 rg BT 106.81 449.85 Td (e are currently evaluating this new accounting standard and the impacts it may have on our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (financial statements.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (ASU 2017-12, Derivatives and Hedging: ) Tj ET Q q 0 0 0 rg BT 247.35 408.45 Td (T) Tj ET Q q 0 0 0 rg BT 253.97 408.45 Td (argeted Impr) Tj ET Q q 0 0 0 rg BT 319.23 408.45 Td (ovements to ) Tj ET Q q 0 0 0 rg BT 379.91 408.45 Td (Accounting for) Tj ET Q q 0 0 0 rg BT 453.49 408.45 Td ( Hedging ) Tj ET Q q 0 0 0 rg BT 500.14 408.45 Td (Activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 380.85 Td (In ) Tj ET Q q 0 0 0 rg BT 97.32 380.85 Td (August 2017, a new accounting standard was issued that modifies hedge accounting guidance with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (the intent of simplifying the application of hedge accounting. ) Tj ET Q q 0 0 0 rg BT 333.53 367.05 Td (The new standard is ef) Tj ET Q q 0 0 0 rg BT 437.43 367.05 Td (fective for us on January ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (1, 2019, with early application permitted. ) Tj ET Q q 0 0 0 rg BT 244.96 353.25 Td (At transition the guidance requires the changes to be applied to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (hedging relationships existing on the date of adoption, with the ef) Tj ET Q q 0 0 0 rg BT 351.11 339.45 Td (fect of adoption reflected as of the beginning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (of the fiscal year of adoption using a cumulative ef) Tj ET Q q 0 0 0 rg BT 283.37 325.65 Td (fect adjustment approach. ) Tj ET Q q 0 0 0 rg BT 407.38 325.65 Td (The presentation and disclosure ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (changes may be applied prospectively) Tj ET Q q 0 0 0 rg BT 223.75 311.85 Td (. ) Tj ET Q q 0 0 0 rg BT 232.17 311.85 Td (W) Tj ET Q q 0 0 0 rg BT 242.10 311.85 Td (e are currently evaluating the new guidance, but at this time we do ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (not expect the adoption of this guidance will have a significant impact on our financial statements, as we are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (currently not applying hedge accounting.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td ( ) Tj ET Q endstream endobj 127 0 obj <> endobj 128 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (61) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (14) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 61.00 712.25 Td (.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.88 712.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 712.25 Td (Changes in ) Tj ET Q q 0 0 0 rg BT 142.38 712.25 Td (Accumulated Other) Tj ET Q q 0 0 0 rg BT 239.59 712.25 Td ( Compr) Tj ET Q q 0 0 0 rg BT 277.39 712.25 Td (ehensive Loss) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 344.17 712.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.65 Td (The following table shows the changes in Pinnacle ) Tj ET Q q 0 0 0 rg BT 321.63 684.65 Td (W) Tj ET Q q 0 0 0 rg BT 331.57 684.65 Td (est's consolidated accumulated other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (comprehensive loss, including reclassification adjustments, net of tax, by component for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 475.86 670.85 Td (three months ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 657.05 Td (ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 152.97 657.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 175.33 657.05 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 198.33 657.05 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 586.55 230.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 586.55 83.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 586.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 586.55 19.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 586.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 586.55 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 586.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 586.55 19.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 586.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 586.55 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 554.55 230.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 554.55 83.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 554.55 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 554.55 19.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 554.55 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 554.55 73.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 554.55 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 554.55 19.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 554.55 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 554.55 73.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 500.55 230.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 500.55 83.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 500.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 500.55 19.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 500.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 500.55 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 500.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 500.55 19.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 500.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 500.55 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 469.55 230.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 469.55 83.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 469.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 469.55 19.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 469.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 469.55 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 469.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 469.55 19.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 469.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 469.55 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 437.55 230.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 437.55 83.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 437.55 4.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 437.55 19.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 437.55 4.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 437.55 73.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 437.55 4.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 437.55 19.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 437.55 4.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 437.55 73.00 -28.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 586.55 m 362 586.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 586.55 m 462 586.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 586.55 m 562 586.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 500.55 m 362 500.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 500.55 m 462 500.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 500.55 m 562 500.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 500.55 m 362 500.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 485.55 m 362 485.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 483.55 m 362 483.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 500.55 m 462 500.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 485.55 m 462 485.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 483.55 m 462 483.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 500.55 m 562 500.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 485.55 m 562 485.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 483.55 m 562 483.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 409.55 m 362 409.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 394.55 m 362 394.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 392.55 m 362 392.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 409.55 m 462 409.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 394.55 m 462 394.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 392.55 m 462 392.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 409.55 m 562 409.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 394.55 m 562 394.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 392.55 m 562 392.55 l s BT /F2 12.00 Tf ET q 0 0 0 rg BT 287.30 627.67 Td ( Pension and) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 304.75 615.67 Td (Other) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 281.90 603.67 Td (Postr) Tj ET Q q 0 0 0 rg BT 309.11 603.67 Td (etir) Tj ET Q q 0 0 0 rg BT 326.88 603.67 Td (ement) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 299.30 591.67 Td (Benefits) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 396.80 603.67 Td ( Derivative) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 393.65 591.67 Td (Instruments) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 510.45 591.67 Td ( ) Tj ET Q q 0 0 0 rg BT 513.23 591.67 Td (T) Tj ET Q q 0 0 0 rg BT 520.14 591.67 Td (otal ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 51.50 575.45 Td (Balance December) Tj ET Q q 0 0 0 rg BT 138.96 575.45 Td ( 31, 2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.50 575.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.55 575.47 Td (\(42,440) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 357.50 575.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.50 575.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.05 575.47 Td (\(2,562) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 575.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 491.50 575.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.55 575.47 Td (\(45,002) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 557.50 575.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 559.47 Td (OCI \(loss\) before reclassifications) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 346.50 559.47 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 442.80 559.47 Td (\(96) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 559.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.80 559.47 Td (\(96) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 557.50 559.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 543.47 Td (Amounts reclassified from accumulated other ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 532.47 Td (comprehensive loss) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 341.00 532.47 Td (900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.50 542.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.50 532.22 Td (\(a\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 441.00 532.47 Td (409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 532.22 Td (\(b\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 532.75 532.47 Td (1,309) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 516.47 Td (Reclassification of income tax ef) Tj ET Q q 0 0 0 rg BT 196.08 516.47 Td (fect related to tax) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 505.47 Td (reform) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 329.05 505.47 Td (\(7,954) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 357.50 505.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.30 505.47 Td (\(598) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 505.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.05 505.47 Td (\(8,552) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 557.50 505.47 Td (\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 51.50 489.45 Td (Balance Mar) Tj ET Q q 0 0 0 rg BT 112.09 489.45 Td (ch 31, 2018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.50 489.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.55 489.47 Td (\(49,494) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 357.50 489.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.50 489.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.05 489.47 Td (\(2,847) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 489.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 491.50 489.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.55 489.47 Td (\(52,341) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 557.50 489.47 Td (\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 51.50 458.45 Td (Balance December) Tj ET Q q 0 0 0 rg BT 138.96 458.45 Td ( 31, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.50 458.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.55 458.47 Td (\(39,070) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 357.50 458.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.50 458.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.05 458.47 Td (\(4,752) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 458.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 491.50 458.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.55 458.47 Td (\(43,822) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 557.50 458.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 442.47 Td (OCI \(loss\) before reclassifications) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 346.50 442.47 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.30 442.47 Td (\(770) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 442.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 537.30 442.47 Td (\(770) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 557.50 442.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 425.47 Td (Amounts reclassified from accumulated other ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 414.47 Td (comprehensive loss) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 341.00 414.47 Td (522) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.50 424.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.50 414.22 Td (\(a\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.75 414.47 Td (1,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 414.22 Td (\(b\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 532.75 414.47 Td (1,729) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 51.50 398.45 Td (Balance Mar) Tj ET Q q 0 0 0 rg BT 112.09 398.45 Td (ch 31, 2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.50 398.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.55 398.47 Td (\(38,548) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 357.50 398.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.50 398.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.05 398.47 Td (\(4,315) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 398.47 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 491.50 398.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.55 398.47 Td (\(42,863) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 557.50 398.47 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 366.45 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 366.45 Td (These amounts primarily represent amortization of actuarial loss, and are included in the computation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 352.65 Td (of net periodic pension cost. See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 265.94 352.65 Td (5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.69 352.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 338.85 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 338.85 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 85.50 325.05 Td (purchased power costs and are subject to the PSA. See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 367.50 325.05 Td (7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.25 325.05 Td (.) Tj ET Q endstream endobj 129 0 obj <> endobj 130 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (62) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 712.05 Td (The following table shows the changes in ) Tj ET Q q 0 0 0 rg BT 278.73 712.05 Td (APS's consolidated accumulated other comprehensive loss, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (including reclassification adjustments, net of tax, by component for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 379.73 698.25 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 545.80 698.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 68.98 684.45 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 91.98 684.45 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 611.95 230.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 611.95 83.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 611.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 611.95 18.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 611.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 611.95 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 611.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 611.95 18.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 611.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 611.95 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 579.95 230.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 579.95 83.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 579.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 579.95 18.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 579.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 579.95 73.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 579.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 579.95 18.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 579.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 579.95 73.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 525.95 230.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 525.95 83.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 525.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 525.95 18.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 525.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 525.95 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 525.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 525.95 18.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 525.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 525.95 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 494.95 230.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 494.95 83.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 494.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 494.95 18.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 494.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 494.95 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 494.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 494.95 18.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 494.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 494.95 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 462.95 230.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 462.95 83.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 462.95 4.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 462.95 18.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 462.95 4.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 462.95 73.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 462.95 4.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 462.95 18.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 462.95 4.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 462.95 73.00 -40.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 611.95 m 363 611.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 611.95 m 462 611.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 611.95 m 561 611.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 525.95 m 363 525.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 525.95 m 462 525.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 525.95 m 561 525.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 525.95 m 363 525.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 510.95 m 363 510.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 508.95 m 363 508.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 525.95 m 462 525.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 510.95 m 462 510.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 508.95 m 462 508.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 525.95 m 561 525.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 510.95 m 561 510.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 508.95 m 561 508.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 422.95 m 363 422.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 407.95 m 363 407.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 405.95 m 363 405.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 422.95 m 462 422.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 407.95 m 462 407.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 405.95 m 462 405.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 422.95 m 561 422.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 407.95 m 561 407.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 405.95 m 561 405.95 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 291.00 649.85 Td ( Pension and) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 307.00 638.85 Td (Other) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 286.05 627.85 Td (Postr) Tj ET Q q 0 0 0 rg BT 311.00 627.85 Td (etir) Tj ET Q q 0 0 0 rg BT 327.28 627.85 Td (ement) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 302.05 616.85 Td (Benefits) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 399.15 627.85 Td ( Derivative) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 396.25 616.85 Td (Instruments) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 510.70 616.85 Td ( ) Tj ET Q q 0 0 0 rg BT 513.25 616.85 Td (T) Tj ET Q q 0 0 0 rg BT 519.58 616.85 Td (otal ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 600.85 Td (Balance December) Tj ET Q q 0 0 0 rg BT 139.96 600.85 Td ( 31, 2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 282.50 600.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.55 600.87 Td (\(24,421) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 358.50 600.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.50 600.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.05 600.87 Td (\(2,562) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 600.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.50 600.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 600.87 Td (\(26,983) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 556.50 600.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 584.87 Td (OCI \(loss\) before reclassifications) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 347.50 584.87 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 442.80 584.87 Td (\(96) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 584.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 584.87 Td (\(96) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 556.50 584.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 568.87 Td (Amounts reclassified from accumulated other ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 557.87 Td (comprehensive loss) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 342.00 557.87 Td (857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.50 567.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.50 557.62 Td (\(a\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 441.00 557.87 Td (409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 567.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 557.62 Td (\(b\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 531.75 557.87 Td (1,266) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 541.87 Td (Reclassification of income tax ef) Tj ET Q q 0 0 0 rg BT 197.08 541.87 Td (fect related to tax) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 530.87 Td (reform) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 330.05 530.87 Td (\(4,440) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 358.50 530.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.30 530.87 Td (\(598) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 530.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 530.87 Td (\(5,038) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 556.50 530.87 Td (\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 514.85 Td (Balance Mar) Tj ET Q q 0 0 0 rg BT 113.09 514.85 Td (ch 31, 2018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 282.50 514.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.55 514.87 Td (\(28,004) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 358.50 514.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.50 514.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.05 514.87 Td (\(2,847) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 514.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.50 514.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 514.87 Td (\(30,851) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 556.50 514.87 Td (\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 483.85 Td (Balance December) Tj ET Q q 0 0 0 rg BT 139.96 483.85 Td ( 31, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 282.50 483.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.55 483.87 Td (\(20,671) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 358.50 483.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.50 483.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.05 483.87 Td (\(4,752) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 483.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.50 483.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 483.87 Td (\(25,423) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 556.50 483.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 467.87 Td (OCI \(loss\) before reclassifications) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 347.50 467.87 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.30 467.87 Td (\(770) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 467.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 536.30 467.87 Td (\(770) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 556.50 467.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 438.87 Td (Amounts reclassified from accumulated other ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 427.87 Td (comprehensive loss) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 342.00 427.87 Td (61) Tj ET Q q 0 0 0 rg BT 353.00 427.87 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.50 437.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.50 427.62 Td (\(a\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.75 427.87 Td (1,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 437.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 427.62 Td (\(b\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 531.75 427.87 Td (1,818) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 411.85 Td (Balance Mar) Tj ET Q q 0 0 0 rg BT 113.09 411.85 Td (ch 31, 2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 282.50 411.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.55 411.87 Td (\(20,060) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 358.50 411.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.50 411.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.05 411.87 Td (\(4,315) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 411.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.50 411.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 411.87 Td (\(24,375) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 556.50 411.87 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 387.65 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 103.50 387.65 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 103.50 373.85 Td (computation of net periodic pension cost. See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 344.31 373.85 Td (5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 350.06 373.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 360.05 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 103.50 360.05 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 103.50 346.25 Td (purchased power costs and are subject to the PSA. See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 385.50 346.25 Td (7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.25 346.25 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 318.65 Td (15) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 61.00 318.65 Td ( .) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 66.75 318.65 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 318.65 Td (Income ) Tj ET Q q 0 0 0 rg BT 124.58 318.65 Td (T) Tj ET Q q 0 0 0 rg BT 131.19 318.65 Td (axes) Tj ET Q BT /F2 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 304.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 291.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 291.05 Td (On December 22, 2017 the ) Tj ET Q q 0 0 0 rg BT 212.40 291.05 Td (T) Tj ET Q q 0 0 0 rg BT 218.62 291.05 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 298.48 291.05 Td (Act was enacted. ) Tj ET Q q 0 0 0 rg BT 379.38 291.05 Td (This legislation made significant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 277.25 Td (changes to the federal income tax laws, including a reduction in the corporate tax rate to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 457.92 277.25 Td (21%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.00 277.25 Td ( ef) Tj ET Q q 0 0 0 rg BT 490.60 277.25 Td (fective January ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 263.45 Td (1, 2018. ) Tj ET Q q 0 0 0 rg BT 91.99 263.45 Td (As a result of this rate reduction, the Company recognized a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 371.10 263.45 Td ($1.14 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 429.88 263.45 Td ( reduction in its net deferred ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 249.65 Td (income tax liabilities as of December 31, 2017. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 222.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 222.05 Td (In accordance with accounting for regulated companies, the ef) Tj ET Q q 0 0 0 rg BT 371.71 222.05 Td (fect of this rate reduction is substantially ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 208.25 Td (of) Tj ET Q q 0 0 0 rg BT 58.87 208.25 Td (fset by a regulatory liability) Tj ET Q q 0 0 0 rg BT 185.87 208.25 Td (. ) Tj ET Q q 0 0 0 rg BT 193.86 208.25 Td (As of December 31, 2017, to reflect the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 379.08 208.25 Td ($1.14 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 437.86 208.25 Td ( reduction in its net ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 194.45 Td (deferred income tax liabilities caused by the rate reduction, ) Tj ET Q q 0 0 0 rg BT 324.12 194.45 Td (APS has recorded a regulatory liability of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 518.62 194.45 Td ($1.52 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 180.65 Td (billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 79.53 180.65 Td ( and a new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 131.90 180.65 Td ($377 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 191.00 180.65 Td ( deferred tax asset. ) Tj ET Q q 0 0 0 rg BT 282.75 180.65 Td (The Company intends to amortize the regulatory liability in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 166.85 Td (accordance with applicable federal income tax laws, which require the amortization of a majority of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 153.05 Td (balance over the remaining regulatory life of the related property) Tj ET Q q 0 0 0 rg BT 347.31 153.05 Td (, and in a manner to be approved by its federal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 139.25 Td (and state regulatory agencies. See Note 4 for more details.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 111.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 111.65 Td (Several sections of the ) Tj ET Q q 0 0 0 rg BT 191.96 111.65 Td (T) Tj ET Q q 0 0 0 rg BT 198.18 111.65 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 278.05 111.65 Td (Act contain technical ambiguities. Management has ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 97.85 Td (recognized tax positions which it believes are more likely than not to be sustained upon examination based ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 84.05 Td (upon its interpretation of this legislation. Clarifying guidance may be issued through additional legislation, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 70.25 Td (T) Tj ET Q q 0 0 0 rg BT 56.12 70.25 Td (reasury regulations, or other technical guidance, prior to the Company filing its federal tax return for the year ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 56.45 Td (ended December 31, 2017, which may impact the income tax ef) Tj ET Q q 0 0 0 rg BT 343.08 56.45 Td (fects of the ) Tj ET Q q 0 0 0 rg BT 396.41 56.45 Td (Act as recorded by the Company) Tj ET Q q 0 0 0 rg BT 546.72 56.45 Td (. ) Tj ET Q endstream endobj 131 0 obj <> endobj 132 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (63) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (As of March 31, 2018, the Company does not have a reasonable estimate of what the income tax ef) Tj ET Q q 0 0 0 rg BT 505.33 741.05 Td (fects of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (such clarifying guidance may be. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 699.65 Td (For the quarter ending March 31, 2018, the Company early adopted ) Tj ET Q q 0 0 0 rg BT 401.68 699.65 Td (ASU 2018-02, Income Statement-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 685.85 Td (Reporting Comprehensive Income: Reclassification of Certain ) Tj ET Q q 0 0 0 rg BT 339.28 685.85 Td (T) Tj ET Q q 0 0 0 rg BT 345.50 685.85 Td (ax Ef) Tj ET Q q 0 0 0 rg BT 369.87 685.85 Td (fects from ) Tj ET Q q 0 0 0 rg BT 419.05 685.85 Td (Accumulated Other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td (Comprehensive Income and elected to reclassify the income tax ef) Tj ET Q q 0 0 0 rg BT 354.89 672.05 Td (fects of the 2017 ) Tj ET Q q 0 0 0 rg BT 434.52 672.05 Td (T) Tj ET Q q 0 0 0 rg BT 440.74 672.05 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 520.61 672.05 Td (Act ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (legislation on items within accumulated other comprehensive income to retained earnings. See Note 13 for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (additional information.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 616.85 Td (Net income associated with the Palo ) Tj ET Q q 0 0 0 rg BT 255.20 616.85 Td (V) Tj ET Q q 0 0 0 rg BT 262.23 616.85 Td (erde sale leaseback ) Tj ET Q q 0 0 0 rg BT 353.01 616.85 Td (VIEs is not subject to tax \(see Note 6\). ) Tj ET Q q 0 0 0 rg BT 536.02 616.85 Td (As a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (result, there is no income tax expense associated with the ) Tj ET Q q 0 0 0 rg BT 315.32 603.05 Td (VIEs recorded on the Pinnacle ) Tj ET Q q 0 0 0 rg BT 458.49 603.05 Td (W) Tj ET Q q 0 0 0 rg BT 468.43 603.05 Td (est Condensed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (Consolidated and ) Tj ET Q q 0 0 0 rg BT 131.91 589.25 Td (APS Condensed Consolidated Statements of Income.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 561.65 Td (As of the balance sheet date, the tax year ended December31, 2014 and all subsequent tax years ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (remain subject to examination by the IRS. ) Tj ET Q q 0 0 0 rg BT 248.91 547.85 Td (W) Tj ET Q q 0 0 0 rg BT 259.30 547.85 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 49.50 534.05 Td (examinations by tax authorities for years before 2013.) Tj ET Q endstream endobj 133 0 obj <> endobj 134 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (64) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 743.75 Td (ITEM 2.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 91.67 743.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 98.42 743.75 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 101.30 743.75 Td (MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 273.83 743.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 300.98 743.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 332.52 743.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 376.51 743.75 Td ( FINANCIAL) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 444.55 743.75 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 447.43 743.75 Td (CONDITION ) Tj ET Q q 0 0 0 rg BT 517.40 743.75 Td (AND ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 729.95 Td (RESUL) Tj ET Q q 0 0 0 rg BT 86.79 729.95 Td (TS OF) Tj ET Q q 0 0 0 rg BT 119.28 729.95 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 161.55 729.95 Td (TIONS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 716.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 259.95 702.35 Td (INTRODUCTION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 688.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 674.75 Td (The following discussion should be read in conjunction with Pinnacle ) Tj ET Q q 0 0 0 rg BT 409.16 674.75 Td (W) Tj ET Q q 0 0 0 rg BT 419.10 674.75 Td (est) Tj ET Q q 0 0 0 rg BT 435.07 674.75 Td (s Condensed Consolidated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 660.95 Td (Financial Statements and ) Tj ET Q q 0 0 0 rg BT 167.36 660.95 Td (APS) Tj ET Q q 0 0 0 rg BT 191.65 660.95 Td (s Condensed Consolidated Financial Statements and the related Combined ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 647.15 Td (Notes that appear in Item 1 of this report. For information on factors that may cause our actual future results to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 633.35 Td (dif) Tj ET Q q 0 0 0 rg BT 62.07 633.35 Td (fer from those we currently seek or anticipate, see "Forward-Looking Statements" at the front of this report ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 619.55 Td (and "Risk Factors" in Part1,Item 1A) Tj ET Q q 0 0 0 rg BT 221.16 619.55 Td ( of the 2017 Form10-K.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 605.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 273.45 591.95 Td (OVER) Tj ET Q q 0 0 0 rg BT 306.27 591.95 Td (VIEW) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 564.35 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 564.35 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 564.35 Td (est owns all of the outstanding common stock of ) Tj ET Q q 0 0 0 rg BT 362.89 564.35 Td (APS. ) Tj ET Q q 0 0 0 rg BT 391.98 564.35 Td (APS is a vertically-integrated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 550.55 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 470.39 550.55 Td (Arizona, with the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 536.75 Td (major exceptions of about one-half of the Phoenix metropolitan area, the ) Tj ET Q q 0 0 0 rg BT 386.52 536.75 Td (T) Tj ET Q q 0 0 0 rg BT 393.14 536.75 Td (ucson metropolitan area and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 522.95 Td (Mohave County in northwestern ) Tj ET Q q 0 0 0 rg BT 200.90 522.95 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 245.93 522.95 Td (APS currently accounts for essentially all of our revenues and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 509.15 Td (earnings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 495.35 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 481.55 Td (Ar) Tj ET Q q 0 0 0 rg BT 62.70 481.55 Td (eas of Business Focus) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 467.75 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 453.95 Td (Operational Performance, Reliability and Recent Developments.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 426.35 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 426.35 Td (Nuclear) Tj ET Q q 0 0 0 rg BT 123.40 426.35 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 129.15 426.35 Td (APS operates and is a joint owner of Palo ) Tj ET Q q 0 0 0 rg BT 323.46 426.35 Td (V) Tj ET Q q 0 0 0 rg BT 330.49 426.35 Td (erde. Palo ) Tj ET Q q 0 0 0 rg BT 382.02 426.35 Td (V) Tj ET Q q 0 0 0 rg BT 389.05 426.35 Td (erde experienced strong performance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 412.55 Td (throughout 2017. ) Tj ET Q q 0 0 0 rg BT 136.26 412.55 Td (The ) Tj ET Q q 0 0 0 rg BT 156.38 412.55 Td (April 2017 and October 2017 scheduled refueling outages were each completed in 30 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 398.75 Td (days. During the peak summer demand season, its capacity factor was 98.9%, and the total year capacity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 384.95 Td (factor was 93.8%. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 51.50 357.95 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 357.95 Td (Coal and Related Envir) Tj ET Q q 0 0 0 rg BT 201.26 357.95 Td (onmental Matters and ) Tj ET Q q 0 0 0 rg BT 313.17 357.95 Td (T) Tj ET Q q 0 0 0 rg BT 319.99 357.95 Td (ransactions.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 379.09 357.95 Td ( ) Tj ET Q q 0 0 0 rg BT 384.20 357.95 Td (APS is a joint owner of three coal-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 344.15 Td (fired power plants and acts as operating agent for two of the plants. ) Tj ET Q q 0 0 0 rg BT 366.07 344.15 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 51.50 330.35 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 51.50 316.55 Td (August 3, 2015, EP) Tj ET Q q 0 0 0 rg BT 140.22 316.55 Td (A) Tj ET Q q 0 0 0 rg BT 147.89 316.55 Td ( finalized a ruleto limit carbon dioxide emissions from existing power plants \(the "Clean ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 302.75 Td (Power Plan"\). On October 10, 2017, EP) Tj ET Q q 0 0 0 rg BT 236.56 302.75 Td (A) Tj ET Q q 0 0 0 rg BT 244.23 302.75 Td ( issued a proposal to repeal the Clean Power Plan. On December 18, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 288.95 Td (2017, EP) Tj ET Q q 0 0 0 rg BT 92.62 288.95 Td (A) Tj ET Q q 0 0 0 rg BT 100.29 288.95 Td ( issued an ) Tj ET Q q 0 0 0 rg BT 147.88 288.95 Td (Advanced Notice of Proposed Rulemaking through which EP) Tj ET Q q 0 0 0 rg BT 430.13 288.95 Td (A) Tj ET Q q 0 0 0 rg BT 437.80 288.95 Td ( is soliciting comments as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 275.15 Td (to potential replacements for the Clean Power Plan that would be consistent with EP) Tj ET Q q 0 0 0 rg BT 438.50 275.15 Td (A's current legal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 261.35 Td (interpretation of the Clean ) Tj ET Q q 0 0 0 rg BT 174.77 261.35 Td (Air ) Tj ET Q q 0 0 0 rg BT 192.34 261.35 Td (Act. ) Tj ET Q q 0 0 0 rg BT 216.94 261.35 Td (APS will monitor these proceedings to assess whether or how any future ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 247.55 Td (proposed regulations of carbon emissions from existing EGUs would af) Tj ET Q q 0 0 0 rg BT 381.23 247.55 Td (fect ) Tj ET Q q 0 0 0 rg BT 400.70 247.55 Td (APS. ) Tj ET Q q 0 0 0 rg BT 429.79 247.55 Td (APS continually analyzes its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 233.75 Td (long-range capital management plans to assess the potential ef) Tj ET Q q 0 0 0 rg BT 338.07 233.75 Td (fects of these changes, understanding that any ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 219.95 Td (resulting regulation and legislation could impact the economic viability of certain plants, as well as the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 206.15 Td (willingness or ability of power plant participants to continue participation in such plants. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 178.55 Td (Cholla) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 150.95 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 150.95 Td (On September 1) Tj ET Q q 0 0 0 rg BT 159.81 150.95 Td (1, 2014, ) Tj ET Q q 0 0 0 rg BT 199.42 150.95 Td (APS announced that it would close its 260 MW) Tj ET Q q 0 0 0 rg BT 418.34 150.95 Td ( Unit 2 at Cholla and cease ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 137.15 Td (burning coal at the other ) Tj ET Q q 0 0 0 rg BT 164.15 137.15 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 482.52 137.15 Td (A) Tj ET Q q 0 0 0 rg BT 490.19 137.15 Td ( approves a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 123.35 Td (compromise proposal of) Tj ET Q q 0 0 0 rg BT 161.08 123.35 Td (fered by ) Tj ET Q q 0 0 0 rg BT 201.31 123.35 Td (APS to meet required environmental and emissions standards and rules. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 109.55 Td (April 14, 2015, the ) Tj ET Q q 0 0 0 rg BT 138.94 109.55 Td (ACC approved ) Tj ET Q q 0 0 0 rg BT 210.49 109.55 Td (APS's plan to retire Unit 2, without expressing any view on the future ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 95.75 Td (recoverability of ) Tj ET Q q 0 0 0 rg BT 128.05 95.75 Td (APS's remaining investment in the Unit, which was later addressed in the 2017 Settlement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 81.95 Td (Agreement. \(See Note 4 for details related to the resulting cost recovery) Tj ET Q q 0 0 0 rg BT 382.46 81.95 Td (.\) ) Tj ET Q q 0 0 0 rg BT 394.28 81.95 Td (APS believes that the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 68.15 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 54.35 Td (from adding emissions control equipment. ) Tj ET Q q 0 0 0 rg BT 249.13 54.35 Td (APS closed Unit 2 on October 1, 2015. In early 2017, EP) Tj ET Q q 0 0 0 rg BT 514.15 54.35 Td (A) Tj ET Q q 0 0 0 rg BT 521.82 54.35 Td ( ) Tj ET Q endstream endobj 135 0 obj <> endobj 136 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (65) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (approved a final rule incorporating ) Tj ET Q q 0 0 0 rg BT 212.04 741.05 Td (APS's compromise proposal, which took ef) Tj ET Q q 0 0 0 rg BT 410.67 741.05 Td (fect for Cholla on ) Tj ET Q q 0 0 0 rg BT 494.34 741.05 Td (April 26, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (2017. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 699.65 Td (Four) Tj ET Q q 0 0 0 rg BT 109.57 699.65 Td ( Corners) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 685.85 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 672.05 Td (Asset Purchase ) Tj ET Q q 0 0 0 rg BT 160.47 672.05 Td (Agreement and Coal Supply Matters.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 335.87 672.05 Td ( On December 30, 2013, ) Tj ET Q q 0 0 0 rg BT 454.04 672.05 Td (APS purchased SCE) Tj ET Q q 0 0 0 rg BT 551.79 672.05 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (48% interest in each of Units 4 and 5 of Four Corners. ) Tj ET Q q 0 0 0 rg BT 304.80 658.25 Td (The final purchase price for the interest was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (approximately $182 million. In connection with ) Tj ET Q q 0 0 0 rg BT 275.00 644.45 Td (APS) Tj ET Q q 0 0 0 rg BT 299.29 644.45 Td (s prior general retail rate case with the ) Tj ET Q q 0 0 0 rg BT 477.47 644.45 Td (ACC, the ) Tj ET Q q 0 0 0 rg BT 523.15 644.45 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td (reserved the right to review the prudence of the Four Corners transaction for cost recovery purposes upon the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (closing of the transaction. On December 23, 2014, the ) Tj ET Q q 0 0 0 rg BT 303.40 616.85 Td (ACC approved rate adjustments related to ) Tj ET Q q 0 0 0 rg BT 498.85 616.85 Td (APS) Tj ET Q q 0 0 0 rg BT 523.15 616.85 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (acquisition of SCE) Tj ET Q q 0 0 0 rg BT 139.58 603.05 Td (s interest in Four Corners resulting in a revenue increase of $57.1 million on an annual ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (basis. ) Tj ET Q q 0 0 0 rg BT 80.92 589.25 Td (This decision was appealed and, on September 26, 2017, the Court of ) Tj ET Q q 0 0 0 rg BT 402.54 589.25 Td (Appeals af) Tj ET Q q 0 0 0 rg BT 451.82 589.25 Td (firmed the ) Tj ET Q q 0 0 0 rg BT 501.64 589.25 Td (ACC's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td (decision on the Four Corners rate adjustment. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 547.85 Td (Concurrently with the closing of the SCE transaction described above, BHP) Tj ET Q q 0 0 0 rg BT 434.16 547.85 Td ( Billiton New Mexico ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td (Coal, Inc. \("BHP) Tj ET Q q 0 0 0 rg BT 127.87 534.05 Td ( Billiton"\), the parent company of BHP) Tj ET Q q 0 0 0 rg BT 308.13 534.05 Td ( Navajo Coal Company \("BNCC"\), the coal supplier ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (and operator of the mine that served Four Corners, transferred its ownership of BNCC to NTEC, a company ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (formed by the Navajo Nation to own the mine and develop other ener) Tj ET Q q 0 0 0 rg BT 369.28 506.45 Td (gy projects. ) Tj ET Q q 0 0 0 rg BT 428.05 506.45 Td (Also occurring concurrently ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (with the closing, the Four Corners) Tj ET Q q 0 0 0 rg BT 209.63 492.65 Td ( co-owners executed the 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 409.24 492.65 Td (Agreement for the supply of coal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (to Four Corners from July 2016 through 2031. El Paso, a 7% owner in Units 4 and 5 of Four Corners, did not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.05 Td (sign the 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 173.77 465.05 Td (Agreement. Under the 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 367.33 465.05 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 423.53 465.05 Td (APS agreed to assume the 7% ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.25 Td (shortfall obligation. \(See Note 8 for a discussion of an arbitration related to the 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 503.35 451.25 Td (Agreement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td (and an advance purchase of coal inventory made under the agreement.\) On February 17, 2015, ) Tj ET Q q 0 0 0 rg BT 489.22 437.45 Td (APS and El ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (Paso entered into an asset purchase agreement providing for the purchase by ) Tj ET Q q 0 0 0 rg BT 403.34 423.65 Td (APS, or an af) Tj ET Q q 0 0 0 rg BT 465.09 423.65 Td (filiate of ) Tj ET Q q 0 0 0 rg BT 506.61 423.65 Td (APS, of El ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (Paso) Tj ET Q q 0 0 0 rg BT 74.42 409.85 Td (s 7% interest in each of Units 4 and 5 of Four Corners. 4CA) Tj ET Q q 0 0 0 rg BT 352.62 409.85 Td ( purchased the El Paso interest on July 6, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (2016. ) Tj ET Q q 0 0 0 rg BT 80.92 396.05 Td (The purchase price was immaterial in amount, and 4CA) Tj ET Q q 0 0 0 rg BT 337.36 396.05 Td ( assumed El Paso's reclamation and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (decommissioning obligations associated with the 7% interest.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 358.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 358.45 Td (NTEC had the option to purchase the 7% interest within a certain timeframe pursuant to an option ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 344.65 Td (granted to NTEC. On December 29, 2015, NTEC provided notice of its intent to exercise the option. ) Tj ET Q q 0 0 0 rg BT 520.37 344.65 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 330.85 Td (purchase did not occur during the originally contemplated timeframe. Concurrent with the settlement in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 317.05 Td (principle of the 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 207.93 317.05 Td (Agreement matter described in Note 8, NTEC and 4CA) Tj ET Q q 0 0 0 rg BT 463.10 317.05 Td ( agreed to allow for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 303.25 Td (the purchase by NTEC of the 7% interest, consistent with the option, to occur on or around July 1, 2018, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 289.45 Td (subject to finalizing related documentation and certain approvals. Under the settlement in principle, NTEC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 275.65 Td (will purchase the 7% interest at 4CA) Tj ET Q q 0 0 0 rg BT 217.49 275.65 Td () Tj ET Q q 0 0 0 rg BT 220.69 275.65 Td (s book value and will pay 4CA) Tj ET Q q 0 0 0 rg BT 362.51 275.65 Td ( the purchase price over a period of four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 261.85 Td (years pursuant to a secured interest-bearing promissory note.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 234.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 234.25 Td (The 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 191.56 234.25 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 49.50 220.45 Td (the event NTEC does not purchase the interest. ) Tj ET Q q 0 0 0 rg BT 271.14 220.45 Td (At this time, since NTEC has not yet purchased the 7% ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 206.65 Td (interest, the alternate pricing provisions are applicable to 4CA) Tj ET Q q 0 0 0 rg BT 334.68 206.65 Td ( as the holder of the 7% interest. ) Tj ET Q q 0 0 0 rg BT 489.04 206.65 Td (These terms ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 192.85 Td (include a formula under which NTEC must make certain payments to 4CA) Tj ET Q q 0 0 0 rg BT 393.46 192.85 Td ( for reimbursement of operations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 179.05 Td (and maintenance costs and a specified rate of return, of) Tj ET Q q 0 0 0 rg BT 302.83 179.05 Td (fset by revenue generated by 4CA) Tj ET Q q 0 0 0 rg BT 458.34 179.05 Td () Tj ET Q q 0 0 0 rg BT 461.54 179.05 Td (s power sales. Such ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 165.25 Td (payments are due to 4CA) Tj ET Q q 0 0 0 rg BT 165.75 165.25 Td ( at the end of each calendar year) Tj ET Q q 0 0 0 rg BT 313.57 165.25 Td (. ) Tj ET Q q 0 0 0 rg BT 321.56 165.25 Td (A) Tj ET Q q 0 0 0 rg BT 329.23 165.25 Td ( $10 million payment was due to 4CA) Tj ET Q q 0 0 0 rg BT 503.96 165.25 Td ( at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 151.45 Td (December 31, 2017, which NTEC satisfied by directing to 4CA) Tj ET Q q 0 0 0 rg BT 341.74 151.45 Td ( a prepayment from ) Tj ET Q q 0 0 0 rg BT 434.35 151.45 Td (APS of a portion of a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 137.65 Td (future mine reclamation obligation. ) Tj ET Q q 0 0 0 rg BT 217.91 137.65 Td (The balance of the amount under this formula at March 31, 2018 for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 123.85 Td (calendar year 2017 is approximately $20 million, which is due to 4CA) Tj ET Q q 0 0 0 rg BT 372.72 123.85 Td ( at December 31, 2018. In future years ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 110.05 Td (there may be similar payments due from NTEC to 4CA) Tj ET Q q 0 0 0 rg BT 304.05 110.05 Td ( under this formula; however) Tj ET Q q 0 0 0 rg BT 437.08 110.05 Td (, these payments will cease ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 96.25 Td (to accrue once NTEC becomes the owner of the 7% interest as discussed above. ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 68.65 Td (Lease Extension.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 166.64 68.65 Td ( ) Tj ET Q q 0 0 0 rg BT 171.76 68.65 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 54.85 Td (existing facility lease with the Navajo Nation, which extends the Four Corners leasehold interest from 2016 to ) Tj ET Q endstream endobj 137 0 obj <> endobj 138 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (66) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (2041. ) Tj ET Q q 0 0 0 rg BT 80.92 741.05 Td (The Navajo Nation approved these amendments in March201) Tj ET Q q 0 0 0 rg BT 366.63 741.05 Td (1. ) Tj ET Q q 0 0 0 rg BT 380.80 741.05 Td (The ef) Tj ET Q q 0 0 0 rg BT 410.28 741.05 Td (fectiveness of the amendments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (also required the approval of the DOI, as did a related federal rights-of-way grant. ) Tj ET Q q 0 0 0 rg BT 431.74 727.25 Td (A) Tj ET Q q 0 0 0 rg BT 439.41 727.25 Td ( federal environmental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (review was undertaken as part of the DOI review process, and culminated in the issuance by DOI of a record ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td (of decision on July 17, 2015 justifying the agency action extending the life of the plant and the adjacent mine. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 672.05 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 672.05 Td (April 20, 2016, several environmental groups filed a lawsuit against OSM and other federal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (agencies in the District of ) Tj ET Q q 0 0 0 rg BT 169.90 658.25 Td (Arizona in connection with their issuance of the approvals that extended the life of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (Four Corners and the adjacent mine. ) Tj ET Q q 0 0 0 rg BT 222.39 644.45 Td (The lawsuit alleges that these federal agencies violated both the ESA) Tj ET Q q 0 0 0 rg BT 539.18 644.45 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td (NEP) Tj ET Q q 0 0 0 rg BT 70.17 630.65 Td (A) Tj ET Q q 0 0 0 rg BT 77.84 630.65 Td ( in providing the federal approvals necessary to extend operations at the Four Corners Power Plant and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (the adjacent Navajo Mine past July 6, 2016. ) Tj ET Q q 0 0 0 rg BT 256.78 616.85 Td (APS filed a motion to intervene in the proceedings, which was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (granted on ) Tj ET Q q 0 0 0 rg BT 100.60 603.05 Td (August 3, 2016. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 575.45 Td (On September 15, 2016, NTEC, the company that owns the adjacent mine, filed a motion to intervene ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td (for the purpose of dismissing the lawsuit based on NTEC's tribal sovereign immunity) Tj ET Q q 0 0 0 rg BT 441.14 561.65 Td (. On September 1) Tj ET Q q 0 0 0 rg BT 524.08 561.65 Td (1, 2017, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 547.85 Td (Arizona District Court issued an order granting NTEC's motion, dismissing the litigation with prejudice, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td (and terminating the proceedings. On November 9, 2017, the environmental group plaintif) Tj ET Q q 0 0 0 rg BT 463.51 534.05 Td (fs appealed the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (district court order dismissing their lawsuit. ) Tj ET Q q 0 0 0 rg BT 255.63 520.25 Td (W) Tj ET Q q 0 0 0 rg BT 265.56 520.25 Td (e cannot predict whether this appeal will be successful and, if it ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (is successful, the outcome of further district court proceedings.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 473.50 Td (Navajo Plant) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.90 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 445.90 Td (The co-owners of the Navajo Plant and the Navajo Nation agreed that the Navajo Plant will remain in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 432.10 Td (operation until December 2019 under the existing plant lease. ) Tj ET Q q 0 0 0 rg BT 338.31 432.10 Td (The co-owners and the Navajo Nation executed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 418.30 Td (a lease extension on November 29, 2017 that will allow for decommissioning activities to begin after the plant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 404.50 Td (ceases operations in December 2019. ) Tj ET Q q 0 0 0 rg BT 225.88 404.50 Td (V) Tj ET Q q 0 0 0 rg BT 232.92 404.50 Td (arious stakeholders including regulators, tribal representatives, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 390.70 Td (plant's coal supplier and the DOI have been meeting to determine if an alternate solution can be reached that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.90 Td (would permit continued operation of the plant beyond 2019. ) Tj ET Q q 0 0 0 rg BT 331.52 376.90 Td (Although we cannot predict whether any alternate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 363.10 Td (plans will be found that would be acceptable to all of the stakeholders and feasible to implement, we believe it ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 349.30 Td (is probable that the Navajo Plant will cease operations in December 2019. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.70 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 321.70 Td (APS is currently recovering depreciation and a return on the net book value of its interest in the Navajo ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.90 Td (Plant over its previously estimated life through 2026. ) Tj ET Q q 0 0 0 rg BT 299.28 307.90 Td (APS will seek continued recovery in rates for the book ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 294.10 Td (value of its remaining investment in the plant \(see Note 4 for details related to the resulting regulatory asset\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 280.30 Td (plus a return on the net book value as well as other costs related to retirement and closure, which are still being ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 266.50 Td (assessed and may be material. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 252.70 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.90 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 238.90 Td (On February 14, 2017, the ) Tj ET Q q 0 0 0 rg BT 209.11 238.90 Td (ACC opened a docket titled "ACC Investigation Concerning the Future of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 225.10 Td (the Navajo Generating Station" with the stated goal of engaging stakeholders and negotiating a sustainable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 211.30 Td (pathway for the Navajo Plant to continue operating in some form after December 2019. ) Tj ET Q q 0 0 0 rg BT 457.00 211.30 Td (APS cannot predict ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 197.50 Td (the outcome of this proceeding.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 169.90 Td (Natural Gas.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 148.75 169.90 Td ( ) Tj ET Q q 0 0 0 rg BT 153.87 169.90 Td (APS has six natural gas power plants located throughout ) Tj ET Q q 0 0 0 rg BT 416.10 169.90 Td (Arizona, including Ocotillo. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 156.10 Td (Ocotillo is a 330 MW) Tj ET Q q 0 0 0 rg BT 149.59 156.10 Td ( 4-unit gas plant located in the metropolitan Phoenix area. In early 2014, ) Tj ET Q q 0 0 0 rg BT 488.12 156.10 Td (APS announced ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 142.30 Td (a project to modernize the plant, which involves retiring two older 1) Tj ET Q q 0 0 0 rg BT 362.69 142.30 Td (10 MW) Tj ET Q q 0 0 0 rg BT 397.93 142.30 Td ( steam units, adding five 102 MW) Tj ET Q q 0 0 0 rg BT 554.55 142.30 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 128.50 Td (combustion turbines and maintaining two existing 55 MW) Tj ET Q q 0 0 0 rg BT 317.92 128.50 Td ( combustion turbines. In total, this increases the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 114.70 Td (capacity of the site by 290 MW) Tj ET Q q 0 0 0 rg BT 193.43 114.70 Td (, to 620 MW) Tj ET Q q 0 0 0 rg BT 251.15 114.70 Td (, with completion tar) Tj ET Q q 0 0 0 rg BT 346.76 114.70 Td (geted by summer 2019. \(See Note 4 for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.90 Td (details of the rate recovery in our 2017 Rate Case Decision.\) ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 73.30 Td (T) Tj ET Q q 0 0 0 rg BT 92.32 73.30 Td (ransmission and Delivery) Tj ET Q q 0 0 0 rg BT 216.28 73.30 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 219.15 73.30 Td ( ) Tj ET Q q 0 0 0 rg BT 224.27 73.30 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 59.50 Td (transmission needs that continue to support system reliability) Tj ET Q q 0 0 0 rg BT 330.15 59.50 Td (, access to markets and renewable ener) Tj ET Q q 0 0 0 rg BT 508.43 59.50 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 45.70 Td (development. ) Tj ET Q q 0 0 0 rg BT 117.32 45.70 Td (The capital expenditures table presented in the "Liquidity and Capital Resources" section below ) Tj ET Q endstream endobj 139 0 obj <> endobj 140 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (67) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (includes new ) Tj ET Q q 0 0 0 rg BT 112.10 741.05 Td (APS transmission projects, along with other transmission costs for upgrades and replacements. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (APS is also working to establish and expand advanced grid technologies throughout its service territory to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (provide long-term benefits both to ) Tj ET Q q 0 0 0 rg BT 209.52 713.45 Td (APS and its customers. ) Tj ET Q q 0 0 0 rg BT 321.33 713.45 Td (APS is strategically deploying a variety of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td (technologies that are intended to allow customers to better manage their ener) Tj ET Q q 0 0 0 rg BT 402.80 699.65 Td (gy usage, minimize system outage ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 685.85 Td (durations and frequency) Tj ET Q q 0 0 0 rg BT 159.88 685.85 Td (, enable customer choice for new customer sited technologies, and facilitate greater ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td (cost savings to ) Tj ET Q q 0 0 0 rg BT 119.46 672.05 Td (APS through improved reliability and the automation of certain distribution functions.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 644.45 Td (Energy Imbalance Market. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.44 644.45 Td (In 2015, ) Tj ET Q q 0 0 0 rg BT 265.01 644.45 Td (APS and the California Independent System Operator ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td (\("CAISO"\), the operator for the majority of California's transmission grid, signed an agreement for ) Tj ET Q q 0 0 0 rg BT 506.80 630.65 Td (APS to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (begin participation in the Ener) Tj ET Q q 0 0 0 rg BT 189.17 616.85 Td (gy Imbalance Market \(EIM\). ) Tj ET Q q 0 0 0 rg BT 337.33 616.85 Td (APS's participation in the EIM began on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (October 1, 2016. ) Tj ET Q q 0 0 0 rg BT 132.33 603.05 Td (The EIM allows for rebalancing supply and demand in 15-minute blocks with dispatching ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (every five minutes before the ener) Tj ET Q q 0 0 0 rg BT 206.71 589.25 Td (gy is needed, instead of the traditional one hour blocks. ) Tj ET Q q 0 0 0 rg BT 466.36 589.25 Td (APS expects that its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td (participation in EIM will lower its fuel costs, improve visibility and situational awareness for system ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td (operations in the ) Tj ET Q q 0 0 0 rg BT 128.82 561.65 Td (W) Tj ET Q q 0 0 0 rg BT 138.75 561.65 Td (estern Interconnection power grid, and improve integration of ) Tj ET Q q 0 0 0 rg BT 425.21 561.65 Td (APS) Tj ET Q q 0 0 0 rg BT 449.50 561.65 Td (s renewable resources. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 534.05 Td (Regulatory Matters) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 506.45 Td (Rate Matters.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 149.39 506.45 Td ( ) Tj ET Q q 0 0 0 rg BT 154.51 506.45 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 49.50 492.65 Td (maintain its financial health. ) Tj ET Q q 0 0 0 rg BT 185.55 492.65 Td (APS) Tj ET Q q 0 0 0 rg BT 209.84 492.65 Td (s retail rates are regulated by the ) Tj ET Q q 0 0 0 rg BT 361.52 492.65 Td (ACC and its wholesale electric rates ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (\(primarily for transmission\) are regulated by FERC. See Note 4 for information on ) Tj ET Q q 0 0 0 rg BT 434.99 478.85 Td (APS) Tj ET Q q 0 0 0 rg BT 459.29 478.85 Td (s FERC rates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 451.25 Td (On June1, 2016, ) Tj ET Q q 0 0 0 rg BT 166.00 451.25 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 321.23 451.25 Td (ACC for an annual increase in retail base rates of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td ($165.9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 117.23 437.45 Td (. ) Tj ET Q q 0 0 0 rg BT 125.64 437.45 Td (This amount excluded amounts that were then collected on customer bills through adjustor ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (mechanisms. ) Tj ET Q q 0 0 0 rg BT 114.77 423.65 Td (The application requested that some of the balances in these adjustor accounts \(aggregating to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 409.85 Td ($267.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 186.53 409.85 Td ( as of December 31, 2015\) be transferred into base rates through the ratemaking ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (process. ) Tj ET Q q 0 0 0 rg BT 92.41 396.05 Td (This transfer would not have had an incremental ef) Tj ET Q q 0 0 0 rg BT 326.59 396.05 Td (fect on average customer bills. ) Tj ET Q q 0 0 0 rg BT 472.96 396.05 Td (The average ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (annual customer bill impact of ) Tj ET Q q 0 0 0 rg BT 192.26 382.25 Td (APS) Tj ET Q q 0 0 0 rg BT 216.55 382.25 Td (s request was an increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 347.48 382.25 Td (5.74%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 377.18 382.25 Td ( \(the average annual bill impact for a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 Td (typical ) Tj ET Q q 0 0 0 rg BT 83.04 368.45 Td (APS residential customer was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 223.57 368.45 Td (7.96%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.28 368.45 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.94 368.45 Td (. See Note 4 for details regarding the principal provisions of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.65 Td (APS's application.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 328.85 Td (On March 27, 2017, a majority of the stakeholders in the general retail rate case, including the ) Tj ET Q q 0 0 0 rg BT 521.09 328.85 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 315.05 Td (Staf) Tj ET Q q 0 0 0 rg BT 67.82 315.05 Td (f, the Residential Utility Consumer Of) Tj ET Q q 0 0 0 rg BT 243.92 315.05 Td (fice, limited income advocates and private rooftop solar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 301.25 Td (or) Tj ET Q q 0 0 0 rg BT 58.87 301.25 Td (ganizations signed the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 241.25 301.25 Td (Agreement and filed it with the ) Tj ET Q q 0 0 0 rg BT 387.52 301.25 Td (ACC. ) Tj ET Q q 0 0 0 rg BT 419.58 301.25 Td (The average annual customer ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 287.45 Td (bill impact under the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 225.17 287.45 Td (Agreement was calculated as an increase of 3.28% \(the average annual ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 273.65 Td (bill impact for a typical ) Tj ET Q q 0 0 0 rg BT 159.68 273.65 Td (APS residential customer was calculated as 4.54%\). \(See Note 4 for details of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 259.85 Td (2017 Settlement ) Tj ET Q q 0 0 0 rg BT 126.80 259.85 Td (Agreement.\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 232.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 232.25 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 232.25 Td (August 15, 2017, the ) Tj ET Q q 0 0 0 rg BT 200.19 232.25 Td (ACC approved \(by a vote of 4-1\), the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 452.82 232.25 Td (Agreement without ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 218.45 Td (material modifications. On ) Tj ET Q q 0 0 0 rg BT 178.21 218.45 Td (August 18, 2017, the ) Tj ET Q q 0 0 0 rg BT 276.60 218.45 Td (ACC issued a final written Opinion and Order reflecting its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 204.65 Td (decision in ) Tj ET Q q 0 0 0 rg BT 101.89 204.65 Td (APS) Tj ET Q q 0 0 0 rg BT 126.18 204.65 Td (s general retail rate case \(the "2017 Rate Case Decision"\), which is subject to requests for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 190.85 Td (rehearing and potential appeal. ) Tj ET Q q 0 0 0 rg BT 196.81 190.85 Td (The new rates went into ef) Tj ET Q q 0 0 0 rg BT 318.91 190.85 Td (fect on ) Tj ET Q q 0 0 0 rg BT 352.76 190.85 Td (August 19, 2017. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 163.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 163.25 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 163.25 Td (August 20, 2017, Commissioner Burns filed a special action petition in the ) Tj ET Q q 0 0 0 rg BT 448.04 163.25 Td (Arizona Supreme Court ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 149.45 Td (seeking to vacate the ) Tj ET Q q 0 0 0 rg BT 147.85 149.45 Td (ACC's order approving the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 351.79 149.45 Td (Agreement so that alleged issues of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 135.65 Td (disqualification and bias on the part of the other Commissioners can be fully investigated. ) Tj ET Q q 0 0 0 rg BT 470.77 135.65 Td (APS opposed the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 121.85 Td (petition, and on October 17, 2017, the ) Tj ET Q q 0 0 0 rg BT 226.44 121.85 Td (Arizona Supreme Court declined to accept jurisdiction over ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 108.05 Td (Commissioner Burns) Tj ET Q q 0 0 0 rg BT 149.91 108.05 Td ( special action petition.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 80.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 80.45 Td (On October 17, 2017, ) Tj ET Q q 0 0 0 rg BT 188.14 80.45 Td (W) Tj ET Q q 0 0 0 rg BT 198.07 80.45 Td (arren ) Tj ET Q q 0 0 0 rg BT 224.36 80.45 Td (W) Tj ET Q q 0 0 0 rg BT 234.29 80.45 Td (oodward \(an intervener in ) Tj ET Q q 0 0 0 rg BT 355.64 80.45 Td (APS's general retail rate case\) filed a Notice ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 66.65 Td (of ) Tj ET Q q 0 0 0 rg BT 61.32 66.65 Td (Appeal in the ) Tj ET Q q 0 0 0 rg BT 125.52 66.65 Td (Arizona Court of ) Tj ET Q q 0 0 0 rg BT 206.32 66.65 Td (Appeals, Division One. ) Tj ET Q q 0 0 0 rg BT 319.82 66.65 Td (The notice raises a single issue related to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 52.85 Td (application of certain rate schedules to new ) Tj ET Q q 0 0 0 rg BT 251.00 52.85 Td (APS residential customers after May 1, 2018. Mr) Tj ET Q q 0 0 0 rg BT 476.81 52.85 Td (. ) Tj ET Q q 0 0 0 rg BT 482.36 52.85 Td (W) Tj ET Q q 0 0 0 rg BT 492.29 52.85 Td (oodward filed ) Tj ET Q endstream endobj 141 0 obj <> endobj 142 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (68) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (a second notice of appeal on November 13, 2017 challenging ) Tj ET Q q 0 0 0 rg BT 333.41 741.05 Td (APS) Tj ET Q q 0 0 0 rg BT 357.70 741.05 Td (s $5 per month automated metering ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (infrastructure opt-out program. Mr) Tj ET Q q 0 0 0 rg BT 211.42 727.25 Td (. ) Tj ET Q q 0 0 0 rg BT 216.96 727.25 Td (W) Tj ET Q q 0 0 0 rg BT 226.89 727.25 Td (oodward) Tj ET Q q 0 0 0 rg BT 270.33 727.25 Td (s two appeals have been consolidated, and ) Tj ET Q q 0 0 0 rg BT 467.05 727.25 Td (APS has filed a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (motion to intervene. Mr) Tj ET Q q 0 0 0 rg BT 161.61 713.45 Td (. ) Tj ET Q q 0 0 0 rg BT 167.15 713.45 Td (W) Tj ET Q q 0 0 0 rg BT 177.09 713.45 Td (oodward filed his opening brief on March 28, 2018. ) Tj ET Q q 0 0 0 rg BT 420.46 713.45 Td (APS cannot predict the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td (outcome of this consolidated appeal but does not believe it will have a material impact on our financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 685.85 Td (position, results of operations or cash flows. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 658.25 Td (On January 3, 2018, an ) Tj ET Q q 0 0 0 rg BT 194.41 658.25 Td (APS customer filed a petition with the ) Tj ET Q q 0 0 0 rg BT 372.97 658.25 Td (ACC that was determined by the ) Tj ET Q q 0 0 0 rg BT 525.64 658.25 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (Staf) Tj ET Q q 0 0 0 rg BT 67.82 644.45 Td (f to be a complaint filed pursuant to ) Tj ET Q q 0 0 0 rg BT 234.53 644.45 Td (Arizona Revised Statute 40-246 and not a request for rehearing. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td (Arizona Revised Statute 40-246 requires the ) Tj ET Q q 0 0 0 rg BT 261.56 630.65 Td (ACC to hold a hearing regarding any complaint alleging that a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (public service corporation is in violation of any commission order or that the rates being char) Tj ET Q q 0 0 0 rg BT 478.19 616.85 Td (ged are not just ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (and reasonable if the complaint is signed by at least twenty-five customers of the public service corporation. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (The Complaint alleged that ) Tj ET Q q 0 0 0 rg BT 177.25 589.25 Td (APS is in violation of commission order [sic]. On February 13, 2018, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td (complainant filed an amended Complaint alleging that the rates and char) Tj ET Q q 0 0 0 rg BT 383.32 575.45 Td (ges in the 2017 Rate Case Decision ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td (are not just and reasonable. ) Tj ET Q q 0 0 0 rg BT 180.54 561.65 Td (The complainant is requesting that the ) Tj ET Q q 0 0 0 rg BT 358.75 561.65 Td (ACC hold a hearing on the amended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (Complaint to determine if the average bill impact on residential customers of the rates and char) Tj ET Q q 0 0 0 rg BT 487.11 547.85 Td (ges approved in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td (the 2017 Rate Case Decision is greater than 4.54% \(the average annual bill impact for a typical ) Tj ET Q q 0 0 0 rg BT 488.91 534.05 Td (APS residential ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (customer estimated by ) Tj ET Q q 0 0 0 rg BT 155.22 520.25 Td (APS\) and, if so, what ef) Tj ET Q q 0 0 0 rg BT 265.20 520.25 Td (fect the alleged greater bill impact has on ) Tj ET Q q 0 0 0 rg BT 457.44 520.25 Td (APS's revenues and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (the overall reasonableness and justness of ) Tj ET Q q 0 0 0 rg BT 243.67 506.45 Td (APS's rates and char) Tj ET Q q 0 0 0 rg BT 337.84 506.45 Td (ges, in order to determine if there is suf) Tj ET Q q 0 0 0 rg BT 518.71 506.45 Td (ficient ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (evidence to warrant a full-scale rate hearing. In ) Tj ET Q q 0 0 0 rg BT 271.73 492.65 Td (April 2018, the judge set a procedural schedule for this matter ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (and a hearing is scheduled for September 2018. ) Tj ET Q q 0 0 0 rg BT 273.05 478.85 Td (APS cannot predict the outcome of this matter) Tj ET Q q 0 0 0 rg BT 485.44 478.85 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 451.25 Td (APS has several recovery mechanisms in place that provide more timely recovery to ) Tj ET Q q 0 0 0 rg BT 476.07 451.25 Td (APS of its fuel ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 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 49.50 423.65 Td (management and renewable ener) Tj ET Q q 0 0 0 rg BT 200.31 423.65 Td (gy ef) Tj ET Q q 0 0 0 rg BT 223.41 423.65 Td (forts and customer programs. ) Tj ET Q q 0 0 0 rg BT 363.73 423.65 Td (These mechanisms are described more ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (fully below and in Note 4.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 382.25 Td (SCR Cost Recovery) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.50 382.25 Td (. On December 29, 2017, in accordance with the 2017 Rate Case Decision, ) Tj ET Q q 0 0 0 rg BT 526.87 382.25 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 Td (filed a Notice of Intent to file its SCR Rate Rider to permit recovery of costs associated with the installation of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.65 Td (SCR equipment at Four Corners Units 4 and 5. ) Tj ET Q q 0 0 0 rg BT 270.23 354.65 Td (APS filed the SCR Rate Rider in ) Tj ET Q q 0 0 0 rg BT 423.25 354.65 Td (April 2018. Consistent with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.85 Td (the 2017 Rate Case Decision, the rate rider filing will be narrow in scope and will address only costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.05 Td (associated with this specific environmental compliance equipment. ) Tj ET Q q 0 0 0 rg BT 362.79 327.05 Td (Also, as provided for in the 2017 Rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.25 Td (Case Decision, ) Tj ET Q q 0 0 0 rg BT 120.73 313.25 Td (APS will request that the rate rider become ef) Tj ET Q q 0 0 0 rg BT 330.65 313.25 Td (fective no later than January 1, 2019.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 285.65 Td (Renewable Energy) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 174.62 285.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.50 285.65 Td ( ) Tj ET Q q 0 0 0 rg BT 183.04 285.65 Td (The ) Tj ET Q q 0 0 0 rg BT 203.16 285.65 Td (ACC approved the RES in 2006. ) Tj ET Q q 0 0 0 rg BT 359.47 285.65 Td (The renewable ener) Tj ET Q q 0 0 0 rg BT 449.93 285.65 Td (gy requirement is 8% of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 271.85 Td (retail electric sales in 2018 and increases annually until it reaches 15% in 2025. In ) Tj ET Q q 0 0 0 rg BT 432.40 271.85 Td (APS) Tj ET Q q 0 0 0 rg BT 456.69 271.85 Td (s 2009 general retail ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.05 Td (rate case settlement agreement, ) Tj ET Q q 0 0 0 rg BT 195.42 258.05 Td (APS agreed to exceed the RES standards, committing to use ) Tj ET Q q 0 0 0 rg BT 474.89 258.05 Td (APS) Tj ET Q q 0 0 0 rg BT 499.18 258.05 Td (s best ef) Tj ET Q q 0 0 0 rg BT 536.66 258.05 Td (forts ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.25 Td (to have 1,700 gigawatt-hours of new renewable resources in service by year) Tj ET Q q 0 0 0 rg BT 398.62 244.25 Td (-end 2015, in addition to its RES ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.45 Td (renewable resource commitments. ) Tj ET Q q 0 0 0 rg BT 212.04 230.45 Td (APS met its settlement commitment and overall RES tar) Tj ET Q q 0 0 0 rg BT 471.20 230.45 Td (get for 2017. ) Tj ET Q q 0 0 0 rg BT 535.40 230.45 Td (A) Tj ET Q q 0 0 0 rg BT 543.07 230.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.65 Td (component of the RES tar) Tj ET Q q 0 0 0 rg BT 168.74 216.65 Td (gets development of distributed ener) Tj ET Q q 0 0 0 rg BT 336.52 216.65 Td (gy systems.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 189.05 Td (On July 1, 2016, ) Tj ET Q q 0 0 0 rg BT 164.09 189.05 Td (APS filed its 2017 RES Implementation Plan and proposed a budget of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 175.25 Td ($150 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 108.60 175.25 Td (. ) Tj ET Q q 0 0 0 rg BT 116.59 175.25 Td (APS) Tj ET Q q 0 0 0 rg BT 140.88 175.25 Td (s budget request included additional funding to process the high volume of residential ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.45 Td (rooftop solar interconnection requests and also requested a permanent waiver of the residential distributed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.65 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 147.65 Td (gy requirement for 2017 contained in the RES rules. On ) Tj ET Q q 0 0 0 rg BT 331.62 147.65 Td (April 7, 2017, ) Tj ET Q q 0 0 0 rg BT 398.38 147.65 Td (APS filed an amended 2017 RES ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 133.85 Td (Implementation Plan and updated budget request which included the revenue neutral transfer of specific ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.05 Td (revenue requirements into base rates in accordance with the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 404.29 120.05 Td (Agreement. On ) Tj ET Q q 0 0 0 rg BT 480.30 120.05 Td (August 15, 2017, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 106.25 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 106.25 Td (ACC approved the 2017 RES Implementation Plan.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 78.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 78.65 Td (On June 30, 2017, ) Tj ET Q q 0 0 0 rg BT 171.75 78.65 Td (APS filed its 2018 RES Implementation Plan and proposed a budget of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 64.85 Td (approximately $90 million. ) Tj ET Q q 0 0 0 rg BT 180.14 64.85 Td (APS) Tj ET Q q 0 0 0 rg BT 204.43 64.85 Td (s budget request supports existing approved projects and commitments and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 51.05 Td (includes the anticipated transfer of specific revenue requirements into base rates in accordance with the 2017 ) Tj ET Q endstream endobj 143 0 obj <> endobj 144 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (69) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (Settlement ) Tj ET Q q 0 0 0 rg BT 100.93 741.05 Td (Agreement and also requests a permanent waiver of the residential distributed ener) Tj ET Q q 0 0 0 rg BT 481.68 741.05 Td (gy requirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (for 2018 contained in the RES rules. ) Tj ET Q q 0 0 0 rg BT 222.30 727.25 Td (APS's 2018 RES budget request is lower than the 2017 RES budget due ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (in part to a certain portion of the RES being collected by ) Tj ET Q q 0 0 0 rg BT 312.02 713.45 Td (APS in base rates rather than through the RES ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td (adjustor) Tj ET Q q 0 0 0 rg BT 85.92 699.65 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 672.05 Td (On November 20, 2017, ) Tj ET Q q 0 0 0 rg BT 199.21 672.05 Td (APS filed an updated 2018 RES budget to include budget adjustments for ) Tj ET Q q 0 0 0 rg BT 540.34 672.05 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (Solar Communities \(formerly known as ) Tj ET Q q 0 0 0 rg BT 234.44 658.25 Td (AZ Sun II\), which was approved as part of the 2017 Rate Case ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (Decision. ) Tj ET Q q 0 0 0 rg BT 98.37 644.45 Td (APS Solar Communities is a three-year program requiring ) Tj ET Q q 0 0 0 rg BT 368.58 644.45 Td (APS to spend $10 million - $15 million ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td (in capital costs each year to install utility-owned DG systems for low to moderate income residential homes, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (buildings of non-profit entities, ) Tj ET Q q 0 0 0 rg BT 195.90 616.85 Td (T) Tj ET Q q 0 0 0 rg BT 202.52 616.85 Td (itle I schools and rural government facilities. ) Tj ET Q q 0 0 0 rg BT 414.05 616.85 Td (The 2017 Rate Case Decision ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (provided that all operations and maintenance expenses, property taxes, marketing and advertising expenses, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (and the capital carrying costs for this program will be recovered through the RES. ) Tj ET Q q 0 0 0 rg BT 431.88 589.25 Td (The ) Tj ET Q q 0 0 0 rg BT 452.00 589.25 Td (ACC has not yet ruled ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td (on ) Tj ET Q q 0 0 0 rg BT 63.24 575.45 Td (APS's 2018 RES Implementation Plan. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 547.85 Td (In September 2016, the ) Tj ET Q q 0 0 0 rg BT 195.05 547.85 Td (ACC initiated a proceeding which will examine the possible modernization and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td (expansion of the RES. On January 30, 2018, ) Tj ET Q q 0 0 0 rg BT 259.04 534.05 Td (ACC Commissioner ) Tj ET Q q 0 0 0 rg BT 355.31 534.05 Td (T) Tj ET Q q 0 0 0 rg BT 361.53 534.05 Td (obin proposed a new standard in this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (proceeding which would broaden the RES to include a series of ener) Tj ET Q q 0 0 0 rg BT 364.49 520.25 Td (gy policies tied to clean ener) Tj ET Q q 0 0 0 rg BT 496.17 520.25 Td (gy sources. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (The Ener) Tj ET Q q 0 0 0 rg BT 91.76 506.45 Td (gy Modernization Plan includes replacing the current RES standard with the Ener) Tj ET Q q 0 0 0 rg BT 466.80 506.45 Td (gy Modernization ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (Plan. See Note 4 for more information on the RES and the Ener) Tj ET Q q 0 0 0 rg BT 345.04 492.65 Td (gy Modernization Plan. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 465.05 Td (The following table summarizes renewable ener) Tj ET Q q 0 0 0 rg BT 306.58 465.05 Td (gy sources in ) Tj ET Q q 0 0 0 rg BT 369.51 465.05 Td (APS's renewable portfolio that are in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.25 Td (operation and under development as of March 31, 2018. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 415.75 174.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 415.75 167.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 415.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 415.75 167.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 383.75 174.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 383.75 167.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 383.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 383.75 167.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 351.75 174.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 351.75 167.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 351.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 351.75 167.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 319.75 174.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 319.75 167.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 319.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 319.75 167.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 287.75 174.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 287.75 167.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 287.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 287.75 167.00 -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 224 415.75 m 391 415.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 415.75 m 395 415.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 415.75 m 562 415.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 399.75 m 391 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 399.75 m 395 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 399.75 m 562 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 303.75 m 391 303.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 303.75 m 395 303.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 303.75 m 562 303.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 271.75 m 391 271.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 271.75 m 395 271.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 271.75 m 562 271.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 256.75 m 391 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 254.75 m 391 254.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 256.75 m 395 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 254.75 m 395 254.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 256.75 m 562 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 254.75 m 562 254.75 l s BT /F2 10.50 Tf ET q 0 0 0 rg BT 52.50 420.54 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 247.60 431.04 Td (NetCapacityinOperation) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 293.25 420.54 Td (\(MW\)) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 410.70 431.04 Td (NetCapacityPlanned/Under) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 433.50 420.54 Td (Development\(MW\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 404.78 Td (T) Tj ET Q q 0 0 0 rg BT 59.12 404.78 Td (otal ) Tj ET Q q 0 0 0 rg BT 78.52 404.78 Td (APS Owned: Solar \(a\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.40 404.78 Td (239) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 404.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 388.78 Td (Purchased Power ) Tj ET Q q 0 0 0 rg BT 134.58 388.78 Td (Agreements:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.50 388.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 388.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 372.78 Td (Solar) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.40 372.78 Td (310) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 372.78 Td (50) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 356.78 Td (W) Tj ET Q q 0 0 0 rg BT 69.12 356.78 Td (ind) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.40 356.78 Td (289) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 356.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 340.78 Td (Geothermal) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 375.15 340.78 Td (10) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 340.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 324.78 Td (Biomass) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 375.15 324.78 Td (14) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 324.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 308.78 Td (Biogas) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.90 308.78 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 308.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 292.78 Td (T) Tj ET Q q 0 0 0 rg BT 59.12 292.78 Td (otal Purchased Power ) Tj ET Q q 0 0 0 rg BT 160.92 292.78 Td (Agreements) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.40 292.78 Td (629) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 292.78 Td (50) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 276.78 Td (T) Tj ET Q q 0 0 0 rg BT 59.12 276.78 Td (otal Distributed Ener) Tj ET Q q 0 0 0 rg BT 155.07 276.78 Td (gy: Solar \(b\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.40 276.78 Td (757) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.35 276.78 Td (49 \(c\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 260.78 Td (T) Tj ET Q q 0 0 0 rg BT 58.72 260.78 Td (otal Renewable Portfolio) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 360.75 260.78 Td (1,625) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 260.78 Td (99) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 218.65 Td (\(a\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.26 218.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 104.26 218.65 Td ( Included in the 239 MW) Tj ET Q q 0 0 0 rg BT 219.99 218.65 Td ( number is 170 MW) Tj ET Q q 0 0 0 rg BT 312.41 218.65 Td ( of solar resources procured through ) Tj ET Q q 0 0 0 rg BT 481.03 218.65 Td (APS's ) Tj ET Q q 0 0 0 rg BT 510.92 218.65 Td (AZ Sun ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 108.00 204.85 Td (Program.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 191.05 Td (\(b\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.91 191.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 105.66 191.05 Td ( Includes rooftop solar facilities owned by third parties. Distributed generation is produced in DC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 108.00 177.25 Td (and is converted to ) Tj ET Q q 0 0 0 rg BT 197.42 177.25 Td (AC for reporting purposes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 163.45 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 108.00 163.45 Td (Applications received by ) Tj ET Q q 0 0 0 rg BT 225.20 163.45 Td (APS that are not yet installed and online.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 135.85 Td (APS has developed and owns solar resources through the ) Tj ET Q q 0 0 0 rg BT 350.92 135.85 Td (ACC-approved ) Tj ET Q q 0 0 0 rg BT 423.42 135.85 Td (AZ Sun Program. ) Tj ET Q q 0 0 0 rg BT 509.99 135.85 Td (APS has ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 122.05 Td (invested approximately $675 million in the ) Tj ET Q q 0 0 0 rg BT 250.09 122.05 Td (AZ Sun Program. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 108.25 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 94.45 Td (Demand Side Management.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 220.31 94.45 Td ( In December2009, ) Tj ET Q q 0 0 0 rg BT 313.88 94.45 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 80.65 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 80.65 Td (gy ef) Tj ET Q q 0 0 0 rg BT 92.18 80.65 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 80.65 Td (gy) Tj ET Q q 0 0 0 rg BT 544.04 80.65 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 66.85 Td (while incentivizing utilities to aid in these ef) Tj ET Q q 0 0 0 rg BT 254.01 66.85 Td (forts that ultimately reduce the demand for ener) Tj ET Q q 0 0 0 rg BT 473.18 66.85 Td (gy) Tj ET Q q 0 0 0 rg BT 483.94 66.85 Td (. ) Tj ET Q q 0 0 0 rg BT 492.35 66.85 Td (The ) Tj ET Q q 0 0 0 rg BT 512.47 66.85 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 53.05 Td (initiated an Ener) Tj ET Q q 0 0 0 rg BT 125.29 53.05 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 150.31 53.05 Td (ficiency rulemaking, with a proposed Electric Ener) Tj ET Q q 0 0 0 rg BT 384.81 53.05 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 409.83 53.05 Td (ficiency Standard of 22% ) Tj ET Q endstream endobj 145 0 obj <> endobj 146 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (70) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (cumulative annual ener) Tj ET Q q 0 0 0 rg BT 156.58 741.05 Td (gy savings by 2020. ) Tj ET Q q 0 0 0 rg BT 254.12 741.05 Td (The 22% figure represents the cumulative reduction in future ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 727.25 Td (gy usage through 2020 attributable to ener) Tj ET Q q 0 0 0 rg BT 263.69 727.25 Td (gy ef) Tj ET Q q 0 0 0 rg BT 286.79 727.25 Td (ficiency initiatives. ) Tj ET Q q 0 0 0 rg BT 380.47 727.25 Td (This standard became ef) Tj ET Q q 0 0 0 rg BT 492.34 727.25 Td (fective on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (January1, 201) Tj ET Q q 0 0 0 rg BT 116.46 713.45 Td (1. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 699.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 685.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 685.85 Td (On June 1, 2016, ) Tj ET Q q 0 0 0 rg BT 166.00 685.85 Td (APS filed its 2017 DSM Implementation Plan, in which ) Tj ET Q q 0 0 0 rg BT 425.39 685.85 Td (APS proposed programs and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td (measures that specifically focus on reducing peak demand, shifting load to of) Tj ET Q q 0 0 0 rg BT 405.05 672.05 Td (f-peak periods and educating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (customers about strategies to manage their ener) Tj ET Q q 0 0 0 rg BT 267.72 658.25 Td (gy and demand. ) Tj ET Q q 0 0 0 rg BT 346.40 658.25 Td (The requested budget in the 2017 DSM ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (Implementation Plan is $62.6 million. On January 27, 2017, ) Tj ET Q q 0 0 0 rg BT 330.59 644.45 Td (APS filed an updated and modified 2017 DSM ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td (Implementation Plan that incorporated the proposed $4 million Residential Demand Response, Ener) Tj ET Q q 0 0 0 rg BT 509.84 630.65 Td (gy Storage ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (and Load Management Program that was filed with the ) Tj ET Q q 0 0 0 rg BT 305.31 616.85 Td (ACC on December 5, 2016 and requested that the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (budget for the 2017 DSM Implementation Plan be increased to $66.6 million. On ) Tj ET Q q 0 0 0 rg BT 428.31 603.05 Td (August 15, 2017, the ) Tj ET Q q 0 0 0 rg BT 526.70 603.05 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (approved the amended 2017 DSM Implementation Plan. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 561.65 Td (On September 1, 2017, ) Tj ET Q q 0 0 0 rg BT 194.10 561.65 Td (APS filed its 2018 DSM Implementation Plan, which proposes modifications to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (the demand side management portfolio to better meet system and customer needs by focusing on peak demand ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td (reductions, storage, load shifting and demand response programs in addition to traditional ener) Tj ET Q q 0 0 0 rg BT 484.92 534.05 Td (gy savings ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (measures. ) Tj ET Q q 0 0 0 rg BT 97.83 520.25 Td (The 2018 DSM Implementation Plan seeks a reduced requested budget of $52.6 million and requests ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (a waiver of the Electric Ener) Tj ET Q q 0 0 0 rg BT 181.15 506.45 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 206.18 506.45 Td (ficiency Standard for 2018. On November 14, 2017, ) Tj ET Q q 0 0 0 rg BT 451.46 506.45 Td (APS filed an amended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (2018 DSM Implementation Plan, which revised the allocations between budget items to address customer ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (participation levels, but kept the overall budget at $52.6 million. See Note 4 for more information on demand ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.05 Td (side management. ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 451.25 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 437.45 Td (T) Tj ET Q q 0 0 0 rg BT 91.47 437.45 Td (ax Expense ) Tj ET Q q 0 0 0 rg BT 148.54 437.45 Td (Adjustor Mechanism and FERC T) Tj ET Q q 0 0 0 rg BT 311.09 437.45 Td (ax Filing. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.49 437.45 Td (As part of the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 506.58 437.45 Td (Agreement, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (the parties agreed to a rate adjustment mechanism to address potential federal income tax reform and enable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (the pass-through of certain income tax ef) Tj ET Q q 0 0 0 rg BT 237.70 409.85 Td (fects to customers. On December 22, 2017, the ) Tj ET Q q 0 0 0 rg BT 456.25 409.85 Td (T) Tj ET Q q 0 0 0 rg BT 462.48 409.85 Td (ax ) Tj ET Q q 0 0 0 rg BT 475.57 409.85 Td (Act was enacted. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (This legislation made significant changes to the federal income tax laws including a reduction in the corporate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (tax rate from 35% to 21% ef) Tj ET Q q 0 0 0 rg BT 180.22 382.25 Td (fective January 1, 2018.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 354.65 Td (On January 8, 2018, ) Tj ET Q q 0 0 0 rg BT 180.69 354.65 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 335.92 354.65 Td (ACC requesting that the ) Tj ET Q q 0 0 0 rg BT 450.06 354.65 Td (TEAM be implemented ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.85 Td (in two steps. ) Tj ET Q q 0 0 0 rg BT 109.99 340.85 Td (The first addresses the change in the mar) Tj ET Q q 0 0 0 rg BT 297.87 340.85 Td (ginal federal tax rate from 35% to 21% resulting from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.05 Td (the ) Tj ET Q q 0 0 0 rg BT 66.22 327.05 Td (T) Tj ET Q q 0 0 0 rg BT 72.44 327.05 Td (ax ) Tj ET Q q 0 0 0 rg BT 85.53 327.05 Td (Act and, if approved, would reduce rates by $1) Tj ET Q q 0 0 0 rg BT 300.98 327.05 Td (19.1 million annually through an equal cents per kWh ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.25 Td (credit. ) Tj ET Q q 0 0 0 rg BT 80.79 313.25 Td (APS asked that this decrease become ef) Tj ET Q q 0 0 0 rg BT 263.25 313.25 Td (fective February 1, 2018. On February 22, 2018, the ) Tj ET Q q 0 0 0 rg BT 508.53 313.25 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.45 Td (approved the reduction of rates by $1) Tj ET Q q 0 0 0 rg BT 220.88 299.45 Td (19.1 million for the remainder of 2018 through an equal cents per kWh ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.65 Td (credit applied to all but a small subset of customers who are taking service under specially-approved tarif) Tj ET Q q 0 0 0 rg BT 533.42 285.65 Td (fs. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 271.85 Td (The rate reduction was ef) Tj ET Q q 0 0 0 rg BT 166.15 271.85 Td (fective the first billing cycle in March 2018.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 244.25 Td (The amount of the benefit of the lower federal income tax rate is based on our quarterly pre-tax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.45 Td (earnings pattern, while the reduction in revenues from lower customer rates through the ) Tj ET Q q 0 0 0 rg BT 455.50 230.45 Td (TEAM is based on a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.65 Td (per kWh sales credit which follows our seasonal kWh sales pattern and is not impacted by earnings of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.85 Td (Company) Tj ET Q q 0 0 0 rg BT 93.47 202.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 175.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 175.85 Td (The second step will address the amortization of excess deferred taxes previously collected from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 162.05 Td (customers. ) Tj ET Q q 0 0 0 rg BT 101.25 162.05 Td (APS is analyzing the final impact of the ) Tj ET Q q 0 0 0 rg BT 287.56 162.05 Td (T) Tj ET Q q 0 0 0 rg BT 293.78 162.05 Td (ax ) Tj ET Q q 0 0 0 rg BT 306.88 162.05 Td (Act provisions related to deferred taxes and intends to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 148.25 Td (make a second ) Tj ET Q q 0 0 0 rg BT 119.86 148.25 Td (TEAM filing later in 2018. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 124.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 124.45 Td (The ) Tj ET Q q 0 0 0 rg BT 106.05 124.45 Td (TEAM expressly applies to ) Tj ET Q q 0 0 0 rg BT 234.45 124.45 Td (APS's retail rates with the exception noted above. ) Tj ET Q q 0 0 0 rg BT 467.75 124.45 Td (As discussed in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 110.65 Td (Note 4, ) Tj ET Q q 0 0 0 rg BT 85.60 110.65 Td (APS made a filing with FERC on March 7, 2018 seeking authorization to provide for the cost ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 96.85 Td (reductions resulting from the income tax changes in its wholesale transmission rates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 69.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 69.25 Td (See Note 4 for additional details.) Tj ET Q endstream endobj 147 0 obj <> endobj 148 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (71) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 741.25 Td (Net Metering.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 151.30 741.25 Td ( ) Tj ET Q q 0 0 0 rg BT 157.50 741.25 Td (In 2015, the ) Tj ET Q q 0 0 0 rg BT 215.00 741.25 Td (ACC voted to conduct a generic evidentiary hearing on the value and cost ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.45 Td (of DG to gather information that will inform the ) Tj ET Q q 0 0 0 rg BT 273.39 727.45 Td (ACC on net metering issues and cost of service studies in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.65 Td (upcoming utility rate cases. ) Tj ET Q q 0 0 0 rg BT 181.09 713.65 Td (A) Tj ET Q q 0 0 0 rg BT 188.76 713.65 Td ( hearing was held in ) Tj ET Q q 0 0 0 rg BT 283.61 713.65 Td (April 2016. On October 7, 2016, an ) Tj ET Q q 0 0 0 rg BT 455.45 713.65 Td (Administrative Law ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.85 Td (Judge issued a recommendation in the docket concerning the value and cost of DG solar installations. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 686.05 Td (December 20, 2016, the ) Tj ET Q q 0 0 0 rg BT 161.91 686.05 Td (ACC completed its open meeting to consider the recommended opinion and order by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.25 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 672.25 Td (Administrative Law Judge. ) Tj ET Q q 0 0 0 rg BT 195.79 672.25 Td (After making several amendments, the ) Tj ET Q q 0 0 0 rg BT 375.90 672.25 Td (ACC approved the recommended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.45 Td (opinion and order by a 4-1 vote. ) Tj ET Q q 0 0 0 rg BT 199.61 658.45 Td (As a result of the ) Tj ET Q q 0 0 0 rg BT 280.41 658.45 Td (ACC) Tj ET Q q 0 0 0 rg BT 307.26 658.45 Td (s action, ef) Tj ET Q q 0 0 0 rg BT 357.18 658.45 Td (fective as of ) Tj ET Q q 0 0 0 rg BT 415.62 658.45 Td (APS) Tj ET Q q 0 0 0 rg BT 439.91 658.45 Td (s 2017 Rate Case ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.65 Td (Decision, the current net metering tarif) Tj ET Q q 0 0 0 rg BT 228.11 644.65 Td (f that governs payments for ener) Tj ET Q q 0 0 0 rg BT 377.04 644.65 Td (gy exported to the grid from rooftop ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.85 Td (solar systems was replaced by a more formula-driven approach that utilizes inputs from historical wholesale ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 617.05 Td (solar power costs and eventually an avoided cost methodology) Tj ET Q q 0 0 0 rg BT 336.83 617.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 589.45 Td (As amended, the decision provides that payments by utilities for ener) Tj ET Q q 0 0 0 rg BT 403.71 589.45 Td (gy exported to the grid from DG ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.65 Td (solar facilities will be determined using a resource comparison proxy methodology) Tj ET Q q 0 0 0 rg BT 430.08 575.65 Td (, a method that is based on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.85 Td (the price that ) Tj ET Q q 0 0 0 rg BT 111.77 561.85 Td (APS pays for utility-scale solar projects on a five year rolling average, while a forecasted avoided ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 548.05 Td (cost methodology is being developed. ) Tj ET Q q 0 0 0 rg BT 229.11 548.05 Td (The price established by this resource comparison proxy method will be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.25 Td (updated annually \(between general retail rate cases\) but will not be decreased by more than 10% per year) Tj ET Q q 0 0 0 rg BT 532.62 534.25 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.45 Td (Once the avoided cost methodology is developed, the ) Tj ET Q q 0 0 0 rg BT 297.65 520.45 Td (ACC will determine in ) Tj ET Q q 0 0 0 rg BT 404.98 520.45 Td (APS's subsequent general retail ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.65 Td (rate cases which method \(or a combination of methods\) is appropriate to determine the actual price to be paid ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.85 Td (by ) Tj ET Q q 0 0 0 rg BT 63.24 492.85 Td (APS for exported distributed ener) Tj ET Q q 0 0 0 rg BT 218.25 492.85 Td (gy) Tj ET Q q 0 0 0 rg BT 229.01 492.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 465.25 Td (In addition, the ) Tj ET Q q 0 0 0 rg BT 157.69 465.25 Td (ACC made the following determinations:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 437.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 437.65 Td (Customers who have interconnected a DG system or submitted an application for interconnection ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 423.85 Td (for DG systems prior to ) Tj ET Q q 0 0 0 rg BT 214.98 423.85 Td (August 19, 2017, the date new rates were ef) Tj ET Q q 0 0 0 rg BT 416.60 423.85 Td (fective based on ) Tj ET Q q 0 0 0 rg BT 493.56 423.85 Td (APS's 2017 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 410.05 Td (Rate Case Decision, will be grandfathered for a period of 20 years from the date the customer) Tj ET Q q 0 0 0 rg BT 534.71 410.05 Td () Tj ET Q q 0 0 0 rg BT 537.90 410.05 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 396.25 Td (interconnection application was accepted by the utility;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 382.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 382.45 Td (Customers with DG solar systems are to be considered a separate class of customers for ratemaking ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 368.65 Td (purposes; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 354.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 354.85 Td (Once an export price is set for ) Tj ET Q q 0 0 0 rg BT 244.33 354.85 Td (APS, no netting or banking of retail credits will be available for new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 341.05 Td (DG customers, and the then-applicable export price will be guaranteed for new customers for a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 327.25 Td (period of 10 years.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 299.65 Td (This decision of the ) Tj ET Q q 0 0 0 rg BT 178.77 299.65 Td (ACC addresses policy determinations only) Tj ET Q q 0 0 0 rg BT 374.77 299.65 Td (. ) Tj ET Q q 0 0 0 rg BT 380.31 299.65 Td (The decision states that its principles ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.85 Td (will be applied in future general retail rate cases, and the policy determinations themselves may be subject to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 272.05 Td (future change, as are all ) Tj ET Q q 0 0 0 rg BT 161.25 272.05 Td (ACC policies. ) Tj ET Q q 0 0 0 rg BT 231.53 272.05 Td (A) Tj ET Q q 0 0 0 rg BT 239.20 272.05 Td ( first-year export ener) Tj ET Q q 0 0 0 rg BT 338.93 272.05 Td (gy price of 12.9 cents per kWh is included in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.25 Td (the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 143.73 258.25 Td (Agreement and became ef) Tj ET Q q 0 0 0 rg BT 263.88 258.25 Td (fective on ) Tj ET Q q 0 0 0 rg BT 311.78 258.25 Td (August 19, 2017. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 230.65 Td (On January 23, 2017, ) Tj ET Q q 0 0 0 rg BT 186.86 230.65 Td (T) Tj ET Q q 0 0 0 rg BT 192.97 230.65 Td (ASC sought rehearing of the ) Tj ET Q q 0 0 0 rg BT 326.80 230.65 Td (ACC's decision regarding the value and cost of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.85 Td (DG. ) Tj ET Q q 0 0 0 rg BT 71.65 216.85 Td (T) Tj ET Q q 0 0 0 rg BT 77.76 216.85 Td (ASC asserted that the ) Tj ET Q q 0 0 0 rg BT 179.33 216.85 Td (ACC improperly ignored the ) Tj ET Q q 0 0 0 rg BT 314.12 216.85 Td (Administrative Procedure ) Tj ET Q q 0 0 0 rg BT 434.84 216.85 Td (Act, failed to give adequate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 203.05 Td (notice regarding the scope of the proceedings, and relied on information that was not submitted as evidence, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 189.25 Td (among other alleged defects. ) Tj ET Q q 0 0 0 rg BT 184.36 189.25 Td (T) Tj ET Q q 0 0 0 rg BT 190.47 189.25 Td (ASC filed a Notice of ) Tj ET Q q 0 0 0 rg BT 292.99 189.25 Td (Appeal in the Court of ) Tj ET Q q 0 0 0 rg BT 398.71 189.25 Td (Appeals and filed a Complaint and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 175.45 Td (Statutory ) Tj ET Q q 0 0 0 rg BT 93.91 175.45 Td (Appeal in the Maricopa County Superior Court on March 10, 2017. ) Tj ET Q q 0 0 0 rg BT 409.47 175.45 Td (As part of the 2017 Settlement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.65 Td (Agreement described above, ) Tj ET Q q 0 0 0 rg BT 183.40 161.65 Td (T) Tj ET Q q 0 0 0 rg BT 189.51 161.65 Td (ASC agreed to withdraw these appeals when the ) Tj ET Q q 0 0 0 rg BT 414.34 161.65 Td (ACC decision implementing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.85 Td (the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 143.73 147.85 Td (Agreement is no longer subject to appellate review) Tj ET Q q 0 0 0 rg BT 377.06 147.85 Td (.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 122.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 122.05 Td (Subpoena from ) Tj ET Q q 0 0 0 rg BT 161.12 122.05 Td (Arizona Corporation Commissioner Robert Burns. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 409.73 122.05 Td (On ) Tj ET Q q 0 0 0 rg BT 426.02 122.05 Td (August 25, 2016, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 108.25 Td (Commissioner Burns, individually and not by action of the ) Tj ET Q q 0 0 0 rg BT 322.29 108.25 Td (ACC as a whole, served subpoenas in ) Tj ET Q q 0 0 0 rg BT 497.96 108.25 Td (APS) Tj ET Q q 0 0 0 rg BT 522.25 108.25 Td (s then ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 94.45 Td (current retail rate proceeding on ) Tj ET Q q 0 0 0 rg BT 199.25 94.45 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 284.97 94.45 Td (W) Tj ET Q q 0 0 0 rg BT 294.90 94.45 Td (est for the production of records and information relating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 80.65 Td (to a range of expenditures from 201) Tj ET Q q 0 0 0 rg BT 213.85 80.65 Td (1 through 2016. ) Tj ET Q q 0 0 0 rg BT 289.67 80.65 Td (The subpoenas requested information concerning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 66.85 Td (marketing and advertising expenditures, charitable donations, lobbying expenses, contributions to 501\(c\)\(3\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 53.05 Td (and \(c\)\(4\) nonprofits and political contributions. ) Tj ET Q q 0 0 0 rg BT 277.33 53.05 Td (The return date for the production of information was set as ) Tj ET Q endstream endobj 149 0 obj <> endobj 150 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (72) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (September 15, 2016. ) Tj ET Q q 0 0 0 rg BT 147.35 741.05 Td (The subpoenas also sought testimony from Company personnel having knowledge of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (material, including the Chief Executive Of) Tj ET Q q 0 0 0 rg BT 245.37 727.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 265.80 727.25 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 699.65 Td (On September 9, 2016, ) Tj ET Q q 0 0 0 rg BT 194.10 699.65 Td (APS filed with the ) Tj ET Q q 0 0 0 rg BT 281.63 699.65 Td (ACC a motion to quash the subpoenas or) Tj ET Q q 0 0 0 rg BT 469.95 699.65 Td (, alternatively) Tj ET Q q 0 0 0 rg BT 532.43 699.65 Td (, to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 685.85 Td (stay ) Tj ET Q q 0 0 0 rg BT 70.27 685.85 Td (APS's obligations to comply with the subpoenas and decline to decide ) Tj ET Q q 0 0 0 rg BT 394.62 685.85 Td (APS's motion pending court ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td (proceedings. Contemporaneously with the filing of this motion, ) Tj ET Q q 0 0 0 rg BT 344.00 672.05 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 429.72 672.05 Td (W) Tj ET Q q 0 0 0 rg BT 439.65 672.05 Td (est filed a complaint for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (special action and declaratory judgment in the Superior Court of ) Tj ET Q q 0 0 0 rg BT 347.78 658.25 Td (Arizona for Maricopa County) Tj ET Q q 0 0 0 rg BT 484.04 658.25 Td (, seeking a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (declaratory judgment that Commissioner Burns) Tj ET Q q 0 0 0 rg BT 270.94 644.45 Td ( subpoenas are contrary to law) Tj ET Q q 0 0 0 rg BT 410.38 644.45 Td (. On September 15, 2016, ) Tj ET Q q 0 0 0 rg BT 533.36 644.45 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td (produced all non-confidential and responsive documents and of) Tj ET Q q 0 0 0 rg BT 341.50 630.65 Td (fered to produce any remaining responsive ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (documents that are confidential after an appropriate confidentiality agreement is signed. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 589.25 Td (On February 7, 2017, Commissioner Burns opened a new ) Tj ET Q q 0 0 0 rg BT 352.85 589.25 Td (ACC docket and indicated that its purpose is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td (to study and rectify problems with transparency and disclosure regarding financial contributions from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td (regulated monopolies or other stakeholders who may appear before the ) Tj ET Q q 0 0 0 rg BT 378.43 561.65 Td (ACC that may directly or indirectly ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (benefit an ) Tj ET Q q 0 0 0 rg BT 97.40 547.85 Td (ACC Commissioner) Tj ET Q q 0 0 0 rg BT 190.55 547.85 Td (, a candidate for ) Tj ET Q q 0 0 0 rg BT 266.86 547.85 Td (ACC Commissioner) Tj ET Q q 0 0 0 rg BT 360.01 547.85 Td (, or key ) Tj ET Q q 0 0 0 rg BT 397.06 547.85 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 441.90 547.85 Td (f. ) Tj ET Q q 0 0 0 rg BT 453.72 547.85 Td (As part of this docket, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td (Commissioner Burns set March 24, 2017 as a deadline for the production of all information previously ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (requested through the subpoenas. Neither ) Tj ET Q q 0 0 0 rg BT 242.40 520.25 Td (APS nor Pinnacle ) Tj ET Q q 0 0 0 rg BT 326.84 520.25 Td (W) Tj ET Q q 0 0 0 rg BT 336.78 520.25 Td (est produced the information requested and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (instead objected to the subpoena. On March 10, 2017, Commissioner Burns filed suit against ) Tj ET Q q 0 0 0 rg BT 481.97 506.45 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 492.65 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 492.65 Td (est in the Superior Court of ) Tj ET Q q 0 0 0 rg BT 229.47 492.65 Td (Arizona for Maricopa County in an ef) Tj ET Q q 0 0 0 rg BT 403.62 492.65 Td (fort to enforce his subpoenas. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (March 30, 2017, ) Tj ET Q q 0 0 0 rg BT 127.75 478.85 Td (APS filed a motion to dismiss Commissioner Burns' suit against ) Tj ET Q q 0 0 0 rg BT 425.02 478.85 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 510.74 478.85 Td (W) Tj ET Q q 0 0 0 rg BT 520.67 478.85 Td (est. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.05 Td (response to the motion to dismiss, the court stayed the suit and ordered Commissioner Burns to file a motion to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.25 Td (compel the production of the information sought by the subpoenas with the ) Tj ET Q q 0 0 0 rg BT 397.64 451.25 Td (ACC. On June 20, 2017, the ) Tj ET Q q 0 0 0 rg BT 533.09 451.25 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td (denied the motion to compel. On ) Tj ET Q q 0 0 0 rg BT 208.88 437.45 Td (August 4, 2017, Commissioner Burns amended his complaint to add all of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 423.65 Td (ACC Commissioners and the ) Tj ET Q q 0 0 0 rg BT 202.52 423.65 Td (ACC itself as defendants. ) Tj ET Q q 0 0 0 rg BT 325.17 423.65 Td (All defendants moved to dismiss the complaint. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (On February 15, 2018, the Superior Court dismissed Commissioner Burns) Tj ET Q q 0 0 0 rg BT 393.95 409.85 Td ( complaint. On March 6, 2018, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (Burns filed an objection to the proposed final order from the Superior Court and a motion to amend his ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (complaint. ) Tj ET Q q 0 0 0 rg BT 103.91 382.25 Td (This motion has been fully briefed and the parties are awaiting a decision from the Superior Court ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 Td (judge. ) Tj ET Q q 0 0 0 rg BT 83.47 368.45 Td (The matter is subject to appeal. ) Tj ET Q q 0 0 0 rg BT 229.41 368.45 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 315.13 368.45 Td (W) Tj ET Q q 0 0 0 rg BT 325.06 368.45 Td (est cannot predict the outcome of this matter) Tj ET Q q 0 0 0 rg BT 529.13 368.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 340.85 Td (In addition to the Superior Court proceedings discussed above, on ) Tj ET Q q 0 0 0 rg BT 391.16 340.85 Td (August 20, 2017, Commissioner ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.05 Td (Burns filed a special action petition in the ) Tj ET Q q 0 0 0 rg BT 243.68 327.05 Td (Arizona Supreme Court seeking to vacate the 2017 Rate Case ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.25 Td (Decision so that alleged issues of disqualification and bias on the part of the other Commissioners could be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.45 Td (fully investigated. ) Tj ET Q q 0 0 0 rg BT 137.66 299.45 Td (APS opposed the petition, and on October 17, 2017, the ) Tj ET Q q 0 0 0 rg BT 396.70 299.45 Td (Arizona Supreme Court declined to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.65 Td (accept jurisdiction over Commissioner Burns) Tj ET Q q 0 0 0 rg BT 260.72 285.65 Td ( special action petition.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 258.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 258.05 Td (Renewable Energy Ballot Initiative. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 260.56 258.05 Td (On February 20, 2018, a coalition of renewable ener) Tj ET Q q 0 0 0 rg BT 501.13 258.05 Td (gy advocates ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.25 Td (filed with the ) Tj ET Q q 0 0 0 rg BT 113.06 244.25 Td (Arizona Secretary of State a ballot initiative for an ) Tj ET Q q 0 0 0 rg BT 347.77 244.25 Td (Arizona constitutional amendment requiring ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.45 Td (Arizona public service corporations to procure 50% of their ener) Tj ET Q q 0 0 0 rg BT 346.59 230.45 Td (gy supply from renewable sources by 2030. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.65 Td (For purposes of the proposed amendment, eligible renewable sources would not include nuclear generating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.85 Td (facilities. ) Tj ET Q q 0 0 0 rg BT 97.51 202.85 Td (The stated goal of the Clean Ener) Tj ET Q q 0 0 0 rg BT 251.22 202.85 Td (gy for a Healthy ) Tj ET Q q 0 0 0 rg BT 328.51 202.85 Td (Arizona coalition is to complete the necessary ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 189.05 Td (steps to allow the initiative to be placed on the November 2018 ) Tj ET Q q 0 0 0 rg BT 342.69 189.05 Td (Arizona elections ballot. ) Tj ET Q q 0 0 0 rg BT 458.09 189.05 Td (The coalition must ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 175.25 Td (present over 225,000 verifiable signatures to the Secretary of State by July 5, 2018 to meet that goal. ) Tj ET Q q 0 0 0 rg BT 514.82 175.25 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.45 Td (opposes this ef) Tj ET Q q 0 0 0 rg BT 117.65 161.45 Td (fort. ) Tj ET Q q 0 0 0 rg BT 142.24 161.45 Td (APS believes the initiative is irresponsible and would result in negative impacts to ) Tj ET Q q 0 0 0 rg BT 523.29 161.45 Td (Arizona ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.65 Td (utility customers, the ) Tj ET Q q 0 0 0 rg BT 148.52 147.65 Td (Arizona economy and our company) Tj ET Q q 0 0 0 rg BT 312.56 147.65 Td (. In ) Tj ET Q q 0 0 0 rg BT 333.00 147.65 Td (April 2018, ) Tj ET Q q 0 0 0 rg BT 388.27 147.65 Td (Arizona passed a law limiting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 133.85 Td (penalties associated with violating this proposed constitutional amendment to no more than $5,000 per ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.05 Td (violation. ) Tj ET Q q 0 0 0 rg BT 98.38 120.05 Td (APS cannot predict the outcome of this matter) Tj ET Q q 0 0 0 rg BT 310.77 120.05 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 96.25 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 96.25 Td (Energy Modernization Plan) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 217.78 96.25 Td (. On January 30, 2018, ) Tj ET Q q 0 0 0 rg BT 327.34 96.25 Td (ACC Commissioner ) Tj ET Q q 0 0 0 rg BT 423.61 96.25 Td (T) Tj ET Q q 0 0 0 rg BT 429.83 96.25 Td (obin proposed the Ener) Tj ET Q q 0 0 0 rg BT 536.61 96.25 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 82.45 Td (Modernization Plan, which consists of a series of ener) Tj ET Q q 0 0 0 rg BT 298.08 82.45 Td (gy policies tied to clean ener) Tj ET Q q 0 0 0 rg BT 429.76 82.45 Td (gy sources such as ener) Tj ET Q q 0 0 0 rg BT 537.49 82.45 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 68.65 Td (storage, biomass, ener) Tj ET Q q 0 0 0 rg BT 151.49 68.65 Td (gy ef) Tj ET Q q 0 0 0 rg BT 174.59 68.65 Td (ficiency) Tj ET Q q 0 0 0 rg BT 210.88 68.65 Td (, electric vehicles, and expanded ener) Tj ET Q q 0 0 0 rg BT 382.76 68.65 Td (gy planning through the IRP) Tj ET Q q 0 0 0 rg BT 513.30 68.65 Td ( process. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 54.85 Td (The Ener) Tj ET Q q 0 0 0 rg BT 91.76 54.85 Td (gy Modernization Plan includes replacing the current RES standard with the Ener) Tj ET Q q 0 0 0 rg BT 466.80 54.85 Td (gy Modernization ) Tj ET Q endstream endobj 151 0 obj <> endobj 152 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (73) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (Plan. ) Tj ET Q q 0 0 0 rg BT 75.49 741.05 Td (The ) Tj ET Q q 0 0 0 rg BT 95.61 741.05 Td (ACC has not yet initiated any formal proceedings with respect to Commissioner ) Tj ET Q q 0 0 0 rg BT 467.17 741.05 Td (T) Tj ET Q q 0 0 0 rg BT 473.39 741.05 Td (obin) Tj ET Q q 0 0 0 rg BT 497.03 741.05 Td (s proposal; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (however) Tj ET Q q 0 0 0 rg BT 88.63 727.25 Td (, on February 22, 2018, the ) Tj ET Q q 0 0 0 rg BT 215.44 727.25 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 260.28 727.25 Td (f filed a Notice of Inquiry to further examine the matter) Tj ET Q q 0 0 0 rg BT 515.10 727.25 Td (. ) Tj ET Q q 0 0 0 rg BT 520.22 727.25 Td (As a part ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (of this proposal, the ) Tj ET Q q 0 0 0 rg BT 143.09 713.45 Td (ACC voted in March 2018 to direct utilities to develop a comprehensive biomass ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td (generation plan to be included in each utility) Tj ET Q q 0 0 0 rg BT 258.04 699.65 Td (s RES Implementation Plan. ) Tj ET Q q 0 0 0 rg BT 393.48 699.65 Td (APS cannot predict the outcome of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 685.85 Td (this matter) Tj ET Q q 0 0 0 rg BT 97.73 685.85 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 662.05 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 662.05 Td (Integrated Resource Planning) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 228.63 662.05 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 237.26 662.05 Td (ACC rules require utilities to develop fifteen-year IRPs which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 648.25 Td (describe how the utility plans to serve customer load in the plan timeframe. IRPs are filed with the ) Tj ET Q q 0 0 0 rg BT 507.48 648.25 Td (ACC every ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 634.45 Td (even year) Tj ET Q q 0 0 0 rg BT 93.41 634.45 Td (, and are reviewed by ) Tj ET Q q 0 0 0 rg BT 194.31 634.45 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 239.15 634.45 Td (f to assess the adequacy of the plans. ) Tj ET Q q 0 0 0 rg BT 413.95 634.45 Td (The ) Tj ET Q q 0 0 0 rg BT 434.07 634.45 Td (ACC then determines if the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 620.65 Td (IRP) Tj ET Q q 0 0 0 rg BT 66.97 620.65 Td ( meets the requirements of the rule and, if so, acknowledges the IRP) Tj ET Q q 0 0 0 rg BT 379.31 620.65 Td (. In March of 2018, the ) Tj ET Q q 0 0 0 rg BT 490.77 620.65 Td (ACC reviewed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 606.85 Td (the 2017 IRPs of its jurisdictional utilities and voted to not acknowledge any plan.) Tj ET Q q 0 0 0 rg BT 429.91 606.85 Td (APS does not believe that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 593.05 Td (this lack of acknowledgment will have a material impact on our financial position, results of operations or cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 579.25 Td (flows. ) Tj ET Q q 0 0 0 rg BT 83.05 579.25 Td (APS's next IRP) Tj ET Q q 0 0 0 rg BT 153.71 579.25 Td ( will be filed in 2020.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 551.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 551.65 Td (FERC Matter) Tj ET Q q 0 0 0 rg BT 150.37 551.65 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 158.99 551.65 Td (As part of ) Tj ET Q q 0 0 0 rg BT 207.22 551.65 Td (APS) Tj ET Q q 0 0 0 rg BT 231.52 551.65 Td (s acquisition of SCE) Tj ET Q q 0 0 0 rg BT 328.95 551.65 Td (s interest in Four Corners Units 4 and 5, ) Tj ET Q q 0 0 0 rg BT 515.50 551.65 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 537.85 Td (SCE agreed, via a "T) Tj ET Q q 0 0 0 rg BT 146.08 537.85 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 203.69 537.85 Td (T) Tj ET Q q 0 0 0 rg BT 209.91 537.85 Td (ermination ) Tj ET Q q 0 0 0 rg BT 261.98 537.85 Td (Agreement" that, upon closing of the acquisition, the companies ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 524.05 Td (would terminate an existing transmission agreement \("T) Tj ET Q q 0 0 0 rg BT 307.37 524.05 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 364.56 524.05 Td (Agreement"\) between the parties that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 510.25 Td (provides transmission capacity on a system \(the "Arizona ) Tj ET Q q 0 0 0 rg BT 316.51 510.25 Td (T) Tj ET Q q 0 0 0 rg BT 323.13 510.25 Td (ransmission System"\) for SCE to transmit its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 496.45 Td (portion of the output from Four Corners to California. ) Tj ET Q q 0 0 0 rg BT 302.79 496.45 Td (APS previously submitted a request to FERC related to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 482.65 Td (this termination, which resulted in a FERC order denying rate recovery of $40 million that ) Tj ET Q q 0 0 0 rg BT 467.89 482.65 Td (APS agreed to pay ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 468.85 Td (SCE associated with the termination. On December 22, 2015, ) Tj ET Q q 0 0 0 rg BT 337.91 468.85 Td (APS and SCE agreed to terminate the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 455.05 Td (T) Tj ET Q q 0 0 0 rg BT 56.12 455.05 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 113.73 455.05 Td (T) Tj ET Q q 0 0 0 rg BT 119.96 455.05 Td (ermination ) Tj ET Q q 0 0 0 rg BT 172.02 455.05 Td (Agreement and allow for the ) Tj ET Q q 0 0 0 rg BT 306.89 455.05 Td (T) Tj ET Q q 0 0 0 rg BT 313.51 455.05 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 370.70 455.05 Td (Agreement to expire according to its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 441.25 Td (terms, which includes settling obligations in accordance with the terms of the ) Tj ET Q q 0 0 0 rg BT 407.95 441.25 Td (T) Tj ET Q q 0 0 0 rg BT 414.57 441.25 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 471.76 441.25 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 530.84 441.25 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 427.45 Td (established a regulatory asset of $12 million in 2015 in connection with the payment required under the terms ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 413.65 Td (of the ) Tj ET Q q 0 0 0 rg BT 78.67 413.65 Td (T) Tj ET Q q 0 0 0 rg BT 85.29 413.65 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 142.48 413.65 Td (Agreement. On July 1, 2016, FERC issued an order denying ) Tj ET Q q 0 0 0 rg BT 424.84 413.65 Td (APS) Tj ET Q q 0 0 0 rg BT 449.13 413.65 Td (s request to recover the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 399.85 Td (regulatory asset through its FERC-jurisdictional rates. ) Tj ET Q q 0 0 0 rg BT 303.11 399.85 Td (APS and SCE completed the termination of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 386.05 Td (T) Tj ET Q q 0 0 0 rg BT 56.12 386.05 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 113.31 386.05 Td (Agreement on July 6, 2016. ) Tj ET Q q 0 0 0 rg BT 246.18 386.05 Td (APS made the required payment to SCE and wrote-of) Tj ET Q q 0 0 0 rg BT 493.18 386.05 Td (f the $12 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 372.25 Td (million regulatory asset and char) Tj ET Q q 0 0 0 rg BT 200.03 372.25 Td (ged operating revenues to reflect the ef) Tj ET Q q 0 0 0 rg BT 379.26 372.25 Td (fects of this order in the second quarter ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 358.45 Td (of 2016. On July 29, 2016, ) Tj ET Q q 0 0 0 rg BT 177.92 358.45 Td (APS filed for a rehearing with FERC. In its order denying recovery) Tj ET Q q 0 0 0 rg BT 489.84 358.45 Td (, FERC also ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 344.65 Td (referred to its enforcement division a question of whether the agreement between ) Tj ET Q q 0 0 0 rg BT 425.03 344.65 Td (APS and SCE relating to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 330.85 Td (settlement of obligations under the ) Tj ET Q q 0 0 0 rg BT 211.86 330.85 Td (T) Tj ET Q q 0 0 0 rg BT 218.48 330.85 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 275.67 330.85 Td (Agreement was a jurisdictional contract that should have been ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 317.05 Td (filed with FERC. On October 5, 2017, FERC issued an order denying ) Tj ET Q q 0 0 0 rg BT 374.67 317.05 Td (APS's request for rehearing. FERC also ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 303.25 Td (upheld its prior determination that the agreement relating to the settlement was a jurisdictional contract and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 289.45 Td (should have been filed with FERC. ) Tj ET Q q 0 0 0 rg BT 216.24 289.45 Td (APS cannot predict whether or if the enforcement division will take any ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 275.65 Td (action. ) Tj ET Q q 0 0 0 rg BT 85.59 275.65 Td (APS filed an appeal of FERC's July 1, 2016 and October 5, 2017 orders with the United States Court of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 261.85 Td (Appeals for the Ninth Circuit on December 4, 2017. ) Tj ET Q q 0 0 0 rg BT 294.57 261.85 Td (That proceeding is pending and ) Tj ET Q q 0 0 0 rg BT 441.80 261.85 Td (APS cannot predict the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 248.05 Td (outcome of the proceeding.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 234.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 220.45 Td (Financial Str) Tj ET Q q 0 0 0 rg BT 113.50 220.45 Td (ength and Flexibility) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.10 220.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 196.65 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 196.65 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 196.65 Td (est and ) Tj ET Q q 0 0 0 rg BT 172.20 196.65 Td (APS currently have ample borrowing capacity under their respective credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.85 Td (facilities, and may readily access these facilities ensuring adequate liquidity for each company) Tj ET Q q 0 0 0 rg BT 482.72 182.85 Td (. Capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.05 Td (expenditures will be funded with internally generated cash and external financings, which may include ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.25 Td (issuances of long-term debt and Pinnacle ) Tj ET Q q 0 0 0 rg BT 240.91 155.25 Td (W) Tj ET Q q 0 0 0 rg BT 250.85 155.25 Td (est common stock.) 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 (Other) Tj ET Q q 0 0 0 rg BT 78.67 127.65 Td ( Subsidiaries) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 100.05 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 100.05 Td (Bright Canyon Energy) Tj ET Q q 0 0 0 rg BT 193.07 100.05 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 195.95 100.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 201.70 100.05 Td (On July31, 2014, Pinnacle ) Tj ET Q q 0 0 0 rg BT 328.94 100.05 Td (W) Tj ET Q q 0 0 0 rg BT 338.88 100.05 Td (est announced its creation of a wholly-owned ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.25 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 96.03 86.25 Td (, BCE. BCE's focus is on new growth opportunities that leverage the Company) Tj ET Q q 0 0 0 rg BT 465.10 86.25 Td (s core expertise in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.45 Td (the electric ener) Tj ET Q q 0 0 0 rg BT 122.71 72.45 Td (gy industry) Tj ET Q q 0 0 0 rg BT 174.04 72.45 Td (. BCE) Tj ET Q q 0 0 0 rg BT 208.22 72.45 Td (s first initiative is a 50/50 joint venture with BHE U.S. ) Tj ET Q q 0 0 0 rg BT 461.96 72.45 Td (T) Tj ET Q q 0 0 0 rg BT 468.58 72.45 Td (ransmission LLC, a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.65 Td (subsidiary of Berkshire Hathaway Ener) Tj ET Q q 0 0 0 rg BT 230.69 58.65 Td (gy Company) Tj ET Q q 0 0 0 rg BT 289.03 58.65 Td (. ) Tj ET Q q 0 0 0 rg BT 297.45 58.65 Td (The joint venture, named ) Tj ET Q q 0 0 0 rg BT 415.72 58.65 Td (T) Tj ET Q q 0 0 0 rg BT 422.34 58.65 Td (ransCanyon, is pursuing ) Tj ET Q endstream endobj 153 0 obj <> endobj 154 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (74) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (independent transmission opportunities within the eleven states that comprise the ) Tj ET Q q 0 0 0 rg BT 425.53 741.05 Td (W) Tj ET Q q 0 0 0 rg BT 435.46 741.05 Td (estern Electricity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (Coordinating Council, excluding opportunities related to transmission service that would otherwise be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (provided under the tarif) Tj ET Q q 0 0 0 rg BT 158.19 713.45 Td (fs of the retail service territories of the venture partners) Tj ET Q q 0 0 0 rg BT 415.02 713.45 Td ( utility af) Tj ET Q q 0 0 0 rg BT 456.97 713.45 Td (filiates. ) Tj ET Q q 0 0 0 rg BT 496.68 713.45 Td (T) Tj ET Q q 0 0 0 rg BT 503.30 713.45 Td (ransCanyon ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td (continues to pursue transmission development opportunities in the western United States consistent with its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 685.85 Td (strategy) Tj ET Q q 0 0 0 rg BT 85.16 685.85 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 658.25 Td (On March 29, 2016, ) Tj ET Q q 0 0 0 rg BT 181.11 658.25 Td (T) Tj ET Q q 0 0 0 rg BT 187.73 658.25 Td (ransCanyon entered into a strategic alliance agreement with Pacific Gas and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (Electric Company \("PG&E"\) to jointly pursue competitive transmission opportunities solicited by the CAISO, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td (the operator for the majority of California's transmission grid. ) Tj ET Q q 0 0 0 rg BT 339.12 630.65 Td (T) Tj ET Q q 0 0 0 rg BT 345.74 630.65 Td (ransCanyon and PG&E intend to jointly ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (engage in the development of future transmission infrastructure and compete to develop, build, own and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (operate transmission projects approved by the CAISO.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 575.45 Td (El Dorado.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 137.90 575.45 Td ( ) Tj ET Q q 0 0 0 rg BT 143.44 575.45 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 49.50 561.65 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 49.50 534.05 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 534.05 Td (4CA.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 109.47 534.05 Td ( See "Four Corners - ) Tj ET Q q 0 0 0 rg BT 209.35 534.05 Td (Asset Purchase ) Tj ET Q q 0 0 0 rg BT 281.53 534.05 Td (Agreement and Coal Supply Matters" above for information ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (regarding 4CA.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (Key Financial Drivers) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 465.05 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 49.50 451.25 Td (financial results and our future financial outlook, including those listed below) Tj ET Q q 0 0 0 rg BT 406.13 451.25 Td (. ) Tj ET Q q 0 0 0 rg BT 414.55 451.25 Td (W) Tj ET Q q 0 0 0 rg BT 424.48 451.25 Td (e closely monitor these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td (factors to plan for the Company) Tj ET Q q 0 0 0 rg BT 199.28 437.45 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 49.50 423.65 Td (appropriately) Tj ET Q q 0 0 0 rg BT 110.06 423.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 409.85 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 396.05 Td (Electric Operating Revenues.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.45 396.05 Td ( For the years 2015 through 2017, retail electric revenues comprised ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (approximately 95% of our total electric operating revenues. Our electric operating revenues are af) Tj ET Q q 0 0 0 rg BT 502.39 382.25 Td (fected by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 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 49.50 354.65 Td (customer and the impacts of ener) Tj ET Q q 0 0 0 rg BT 201.62 354.65 Td (gy ef) Tj ET Q q 0 0 0 rg BT 224.72 354.65 Td (ficiency programs, distributed ener) Tj ET Q q 0 0 0 rg BT 385.46 354.65 Td (gy additions, electricity rates and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.85 Td (tarif) Tj ET Q q 0 0 0 rg BT 68.45 340.85 Td (fs, the recovery of PSA) Tj ET Q q 0 0 0 rg BT 175.44 340.85 Td ( deferrals and the operation of other recovery mechanisms. ) Tj ET Q q 0 0 0 rg BT 451.45 340.85 Td (These revenue ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.05 Td (transactions are af) Tj ET Q q 0 0 0 rg BT 132.95 327.05 Td (fected by the availability of excess generation or other ener) Tj ET Q q 0 0 0 rg BT 405.11 327.05 Td (gy resources and wholesale ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.25 Td (market conditions, including competition, demand and prices.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 299.45 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 285.65 Td (Actual and Projected Customer and Sales Growth.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 327.03 285.65 Td ( Retail customers in ) Tj ET Q q 0 0 0 rg BT 420.94 285.65 Td (APS) Tj ET Q q 0 0 0 rg BT 445.23 285.65 Td (s service territory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 271.85 Td (increased 1.7% for the three-month period ended March 31, 2018 compared with the prior) Tj ET Q q 0 0 0 rg BT 464.10 271.85 Td (-year period. For the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.05 Td (three years 2015 through 2017, ) Tj ET Q q 0 0 0 rg BT 195.14 258.05 Td (APS) Tj ET Q q 0 0 0 rg BT 219.43 258.05 Td (s customer growth averaged 1.5% per year) Tj ET Q q 0 0 0 rg BT 415.18 258.05 Td (. ) Tj ET Q q 0 0 0 rg BT 423.60 258.05 Td (W) Tj ET Q q 0 0 0 rg BT 433.53 258.05 Td (e currently project annual ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.25 Td (customer growth to be 1.5 - 2.5% for 2018 and to average in the range of 2 - 3% for 2018 through 2020 based ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.45 Td (on our assessment of modestly improving economic conditions in ) Tj ET Q q 0 0 0 rg BT 353.90 230.45 Td (Arizona.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 202.85 Td (Retail electricity sales in kWh, adjusted to exclude the ef) Tj ET Q q 0 0 0 rg BT 347.15 202.85 Td (fects of weather variations, decreased 0.4% ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 189.05 Td (for the three-month period ended March 31, 2018 compared with the prior) Tj ET Q q 0 0 0 rg BT 390.97 189.05 Td (-year period. Improving economic ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 175.25 Td (conditions and customer growth were more than of) Tj ET Q q 0 0 0 rg BT 284.03 175.25 Td (fset by ener) Tj ET Q q 0 0 0 rg BT 337.46 175.25 Td (gy savings driven by customer conservation, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.45 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 161.45 Td (gy ef) Tj ET Q q 0 0 0 rg BT 92.18 161.45 Td (ficiency) Tj ET Q q 0 0 0 rg BT 128.47 161.45 Td (, and distributed renewable generation initiatives. For the three years 2015 through 2017, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.65 Td (APS experienced annual increases in retail electricity sales averaging 0.2%, adjusted to exclude the ef) Tj ET Q q 0 0 0 rg BT 518.07 147.65 Td (fects of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 133.85 Td (weather variations. ) Tj ET Q q 0 0 0 rg BT 142.54 133.85 Td (W) Tj ET Q q 0 0 0 rg BT 152.47 133.85 Td (e currently project that annual retail electricity sales in kWh will increase in the range of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.05 Td (0.5-1.5% for 2018 and increase on average in the range of 0.5-1.5% during 2018 through 2020, including the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 106.25 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 106.25 Td (fects of customer conservation and ener) Tj ET Q q 0 0 0 rg BT 240.99 106.25 Td (gy ef) Tj ET Q q 0 0 0 rg BT 264.09 106.25 Td (ficiency and distributed renewable generation initiatives, but ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 92.45 Td (excluding the ef) Tj ET Q q 0 0 0 rg BT 123.38 92.45 Td (fects of weather variations. ) Tj ET Q q 0 0 0 rg BT 253.02 92.45 Td (A) Tj ET Q q 0 0 0 rg BT 260.69 92.45 Td ( slower recovery of the ) Tj ET Q q 0 0 0 rg BT 368.95 92.45 Td (Arizona economy or acceleration of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 78.65 Td (expected ef) Tj ET Q q 0 0 0 rg BT 101.96 78.65 Td (fects of customer conservation, ener) Tj ET Q q 0 0 0 rg BT 268.12 78.65 Td (gy ef) Tj ET Q q 0 0 0 rg BT 291.23 78.65 Td (ficiency or distributed renewable generation initiatives ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 64.85 Td (could further impact these estimates.) Tj ET Q endstream endobj 155 0 obj <> endobj 156 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (75) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 741.05 Td (Actual sales growth, excluding weather) Tj ET Q q 0 0 0 rg BT 266.98 741.05 Td (-related variations, may dif) Tj ET Q q 0 0 0 rg BT 391.31 741.05 Td (fer from our projections as a result ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (of numerous factors, such as economic conditions, customer growth, usage patterns and ener) Tj ET Q q 0 0 0 rg BT 475.64 727.25 Td (gy conservation, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (impacts of ener) Tj ET Q q 0 0 0 rg BT 120.18 713.45 Td (gy ef) Tj ET Q q 0 0 0 rg BT 143.28 713.45 Td (ficiency programs and growth in DG, and responses to retail price changes. Based on past ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td (experience, a reasonable range of variation in our kWh sales projections attributable to such economic factors ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 685.85 Td (under normal business conditions can result in increases or decreases in annual net income of up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td (approximately $10 million.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 658.25 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 644.45 Td (W) Tj ET Q q 0 0 0 rg BT 94.87 644.45 Td (eather) Tj ET Q q 0 0 0 rg BT 124.26 644.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 127.14 644.45 Td ( In forecasting the retail sales growth numbers provided above, we assume normal weather ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td (patterns based on historical data. Historically) Tj ET Q q 0 0 0 rg BT 259.21 630.65 Td (, extreme weather variations have resulted in annual variations in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (net income in excess of $20 million. However) Tj ET Q q 0 0 0 rg BT 263.98 616.85 Td (, our experience indicates that the more typical variations from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 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 85.50 589.25 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 575.45 Td (Fuel and Purchased Power Costs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 246.21 575.45 Td ( Fuel and purchased power costs included on our Condensed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td (Consolidated Statements of Income are impacted by our electricity sales volumes, existing contracts for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (purchased power and generation fuel, our power plant performance, transmission availability or constraints, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td (prevailing market prices, new generating plants being placed in service in our market areas, changes in our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (generation resource allocation, our hedging program for managing such costs and PSA) Tj ET Q q 0 0 0 rg BT 448.07 520.25 Td ( deferrals and the related ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (amortization.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 478.85 Td (Operations and Maintenance Expenses) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 271.76 478.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 277.51 478.85 Td ( Operations and maintenance expenses are impacted by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.05 Td (customer and sales growth, power plant operations, maintenance of utility plant \(including generation, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.25 Td (transmission, and distribution facilities\), inflation, unplanned outages, planned outages \(typically scheduled in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td (the spring and fall\), renewable ener) Tj ET Q q 0 0 0 rg BT 212.14 437.45 Td (gy and demand side management related expenses \(which are of) Tj ET Q q 0 0 0 rg BT 507.94 437.45 Td (fset by the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (same amount of operating revenues\) and other factors. See Note 13 for discussion in new accounting guidance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (related to the presentation of net periodic pension and postretirement benefit costs.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 382.25 Td (Depreciation and ) Tj ET Q q 0 0 0 rg BT 170.05 382.25 Td (Amortization Expenses.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 282.52 382.25 Td ( Depreciation and amortization expenses are impacted by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 Td (net additions to utility plant and other property \(such as new generation, transmission, and distribution ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.65 Td (facilities\), and changes in depreciation and amortization rates. See "Liquidity and Capital Resources" below ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.85 Td (for information regarding the planned additions to our facilities and income tax impacts related to bonus ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.05 Td (depreciation. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.25 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 299.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 299.45 Td (Pension and other postretirement non-service credits - net) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 359.91 299.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.78 299.45 Td ( Pension and other postretirement non-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.65 Td (service credits can be impacted by changes in our actuarial assumptions. ) Tj ET Q q 0 0 0 rg BT 388.11 285.65 Td (The most relevant actuarial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 271.85 Td (assumptions are the discount rate used to measure our net periodic costs/credit, the expected long-term rate of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.05 Td (return on plan assets used to estimate earnings on invested funds over the long-term, the mortality assumptions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.25 Td (and the assumed healthcare cost trend rates. ) Tj ET Q q 0 0 0 rg BT 256.53 244.25 Td (W) Tj ET Q q 0 0 0 rg BT 266.47 244.25 Td (e review these assumptions on an annual basis and adjust them ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.45 Td (as necessary) Tj ET Q q 0 0 0 rg BT 105.91 230.45 Td (. See Note 13 for discussion of new accounting guidance related to the presentation of net periodic ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.65 Td (pension and postretirement benefit costs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.85 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 189.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 189.05 Td (Property T) Tj ET Q q 0 0 0 rg BT 135.22 189.05 Td (axes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 159.18 189.05 Td ( ) Tj ET Q q 0 0 0 rg BT 164.72 189.05 Td (T) Tj ET Q q 0 0 0 rg BT 170.94 189.05 Td (axes other than income taxes consist primarily of property taxes, which are af) Tj ET Q q 0 0 0 rg BT 527.44 189.05 Td (fected ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 175.25 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 474.03 175.25 Td (The average ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.45 Td (property tax rate in ) Tj ET Q q 0 0 0 rg BT 139.55 161.45 Td (Arizona for ) Tj ET Q q 0 0 0 rg BT 195.12 161.45 Td (APS, which owns essentially all of our property) Tj ET Q q 0 0 0 rg BT 414.76 161.45 Td (, was 1) Tj ET Q q 0 0 0 rg BT 446.60 161.45 Td (1.2% of the assessed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.65 Td (value for 2017, 1) Tj ET Q q 0 0 0 rg BT 127.64 147.65 Td (1.2% for 2016 and 1) Tj ET Q q 0 0 0 rg BT 221.43 147.65 Td (1.0% for 2015. ) Tj ET Q q 0 0 0 rg BT 295.96 147.65 Td (W) Tj ET Q q 0 0 0 rg BT 305.89 147.65 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 49.50 133.85 Td (generating units and continue with improvements and expansions to our existing generating units and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.05 Td (transmission and distribution facilities. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 106.25 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 92.45 Td (Income T) Tj ET Q q 0 0 0 rg BT 130.12 92.45 Td (axes) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 151.20 92.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 154.08 92.45 Td ( Income taxes are af) Tj ET Q q 0 0 0 rg BT 249.33 92.45 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 78.65 Td (certain deductions and non-taxable items, such as ) Tj ET Q q 0 0 0 rg BT 279.44 78.65 Td (AFUDC. In addition, income taxes may also be af) Tj ET Q q 0 0 0 rg BT 512.70 78.65 Td (fected by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 64.85 Td (the settlement of issues with taxing authorities. On December 22, 2017, the ) Tj ET Q q 0 0 0 rg BT 401.25 64.85 Td (T) Tj ET Q q 0 0 0 rg BT 407.48 64.85 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 487.34 64.85 Td (Act was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 51.05 Td (enacted and is generally ef) Tj ET Q q 0 0 0 rg BT 171.90 51.05 Td (fective on January 1, 2018. Changes which will impact the Company include a ) Tj ET Q endstream endobj 157 0 obj <> endobj 158 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (76) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (reduction in the corporate tax rate to 21%, revisions to the rules related to tax bonus depreciation, limitations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (on interest deductibility and an associated exception for certain public utilities, and requirements that certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (excess deferred tax amounts of regulated utilities be normalized. \(See Note 15 for details of the impacts on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td (Company as of December 31, 2017.\) In ) Tj ET Q q 0 0 0 rg BT 236.65 699.65 Td (APS's recent general retail rate case, the ) Tj ET Q q 0 0 0 rg BT 423.29 699.65 Td (ACC approved a ) Tj ET Q q 0 0 0 rg BT 503.24 699.65 Td (T) Tj ET Q q 0 0 0 rg BT 509.47 699.65 Td (ax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 685.85 Td (Expense ) Tj ET Q q 0 0 0 rg BT 90.70 685.85 Td (Adjustor Mechanism which will be used to pass through the income tax ef) Tj ET Q q 0 0 0 rg BT 432.24 685.85 Td (fects to retail customers of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td (the ) Tj ET Q q 0 0 0 rg BT 66.22 672.05 Td (T) Tj ET Q q 0 0 0 rg BT 72.44 672.05 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 152.31 672.05 Td (Act. \(See Note 4 for details of the ) Tj ET Q q 0 0 0 rg BT 313.05 672.05 Td (TEAM.\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 644.45 Td (Interest Expense.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 167.92 644.45 Td ( Interest expense is af) Tj ET Q q 0 0 0 rg BT 270.22 644.45 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 49.50 630.65 Td (on that debt \(see Note 3\). ) Tj ET Q q 0 0 0 rg BT 171.29 630.65 Td (The primary factors af) Tj ET Q q 0 0 0 rg BT 274.21 630.65 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 49.50 616.85 Td (expenditures, long-term debt maturities, equity issuances and internally generated cash flow) Tj ET Q q 0 0 0 rg BT 472.21 616.85 Td (. ) Tj ET Q q 0 0 0 rg BT 480.21 616.85 Td (An allowance for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (borrowed funds used during construction of) Tj ET Q q 0 0 0 rg BT 250.83 603.05 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 49.50 589.25 Td (construction. ) Tj ET Q q 0 0 0 rg BT 114.77 589.25 Td (W) Tj ET Q q 0 0 0 rg BT 124.70 589.25 Td (e stop accruing ) Tj ET Q q 0 0 0 rg BT 196.56 589.25 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 230.35 561.65 Td ( RESUL) Tj ET Q q 0 0 0 rg BT 270.52 561.65 Td (TS OF) Tj ET Q q 0 0 0 rg BT 303.00 561.65 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 345.27 561.65 Td (TIONS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 534.05 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 534.05 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 534.05 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 534.05 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 49.50 520.25 Td (of traditional regulated retail and wholesale electricity businesses \(primarily electric service to Native Load ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (customers\) and related activities and includes electricity generation, transmission and distribution.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (Operating Results) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 138.63 478.85 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.88 478.85 Td (Thr) Tj ET Q q 0 0 0 rg BT 174.84 478.85 Td (ee-month period ended ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 290.80 478.85 Td (Mar) Tj ET Q q 0 0 0 rg BT 312.30 478.85 Td (ch31, 2018) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 366.93 478.85 Td ( compar) Tj ET Q q 0 0 0 rg BT 407.28 478.85 Td (ed with thr) Tj ET Q q 0 0 0 rg BT 461.38 478.85 Td (ee-month period ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 465.05 Td (ended ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 81.77 465.05 Td (Mar) Tj ET Q q 0 0 0 rg BT 103.27 465.05 Td (ch31, 2017) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 157.90 465.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 437.45 Td (Our consolidated net income attributable to common shareholders for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 425.30 437.45 Td (three months ended March ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 89.75 423.65 Td ( was $3 million, compared with consolidated net income attributable to common shareholders of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 536.55 423.65 Td ($23 ) 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 ( for the prior) Tj ET Q q 0 0 0 rg BT 140.94 409.85 Td (-year period. ) Tj ET Q q 0 0 0 rg BT 205.23 409.85 Td (The results reflect a decrease of approximately $18 million for the regulated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (electricity segment primarily due to customer refunds for lower federal income tax rates, higher operations and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (maintenance primarily due to higher planned outage costs, and higher depreciation and amortization primarily ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 Td (due to increased depreciation rates. ) Tj ET Q q 0 0 0 rg BT 214.05 368.45 Td (These decreases were partially of) Tj ET Q q 0 0 0 rg BT 367.10 368.45 Td (fset by higher revenue resulting from the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.65 Td (retail regulatory settlement ef) Tj ET Q q 0 0 0 rg BT 185.00 354.65 Td (fective ) Tj ET Q q 0 0 0 rg BT 218.52 354.65 Td (August 19, 2017 and higher transmission revenues. ) Tj ET Q endstream endobj 159 0 obj <> endobj 160 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (77) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 741.05 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 49.50 727.25 Td (compared with the prior) Tj ET Q q 0 0 0 rg BT 160.08 727.25 Td (-year period:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 646.95 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 646.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 646.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 646.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 646.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 646.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 614.95 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 614.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 614.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 614.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 614.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 614.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 582.95 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 582.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 582.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 582.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 582.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 582.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 550.95 309.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 550.95 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 550.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 550.95 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 550.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 550.95 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 507.95 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 507.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 507.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 507.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 507.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 507.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 475.95 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 475.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 475.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 475.95 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 475.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 475.95 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 359 676.95 m 424 676.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 676.95 m 428 676.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 676.95 m 493 676.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 676.95 m 424 676.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 661.95 m 424 661.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 676.95 m 493 676.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 661.95 m 493 661.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 661.95 m 562 661.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 491.95 m 424 491.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 491.95 m 493 491.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 491.95 m 424 491.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 491.95 m 493 491.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 491.95 m 562 491.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 459.95 m 424 459.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 459.95 m 493 459.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 459.95 m 562 459.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 459.95 m 424 459.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 444.95 m 424 444.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 442.95 m 424 442.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 459.95 m 493 459.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 444.95 m 493 444.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 442.95 m 493 442.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 459.95 m 562 459.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 444.95 m 562 444.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 442.95 m 562 442.95 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 681.85 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 375.45 692.85 Td (Thr) Tj ET Q q 0 0 0 rg BT 393.69 692.85 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 400.05 681.85 Td (Mar) Tj ET Q q 0 0 0 rg BT 423.47 681.85 Td (ch 31,) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 529.00 681.96 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 666.85 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 380.00 666.85 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 449.00 666.85 Td (2017) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 501.30 666.85 Td (NetChange) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 651.85 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 414.15 651.85 Td (\(dollarsinmillions\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 636.48 Td (Regulated Electricity Segment:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.50 635.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.50 635.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 635.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 620.48 Td (Operating revenues less fuel and purchased power expenses) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 619.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.40 619.98 Td (489) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 619.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 619.98 Td (460) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 619.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 619.98 Td (29) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 604.48 Td (Operations and maintenance) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 604.03 Td (\(260) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 603.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 604.03 Td (\(223) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 603.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 604.03 Td (\(37) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 603.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 588.48 Td (Depreciation and amortization) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 588.03 Td (\(144) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 587.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 588.03 Td (\(127) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 587.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 588.03 Td (\(17) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 587.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 572.48 Td (T) Tj ET Q q 0 0 0 rg BT 59.12 572.48 Td (axes other than income taxes) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.30 572.03 Td (\(53) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 571.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.30 572.03 Td (\(44) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 571.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 572.03 Td (\(9) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 571.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 556.48 Td (All other income and expenses, net) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 555.98 Td (28) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 555.98 Td (13) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 555.98 Td (15) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 540.48 Td (Interest char) Tj ET Q q 0 0 0 rg BT 109.44 540.48 Td (ges, net of allowance for borrowed funds used during) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 66.00 528.98 Td (construction) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.30 529.03 Td (\(52) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 528.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.30 529.03 Td (\(47) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 528.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 529.03 Td (\(5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 528.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 513.48 Td (Income taxes) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 413.90 512.98 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.05 513.03 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 512.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 512.98 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 497.48 Td (Less income related to noncontrolling interests \(Note 6\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.05 497.03 Td (\(5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 496.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.05 497.03 Td (\(5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 496.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 496.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 481.48 Td (Regulated electricity segment income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 413.90 480.98 Td (5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 480.98 Td (23) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 481.03 Td (\(18) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 480.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 465.48 Td (All other) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.05 465.03 Td (\(2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 464.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 464.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 465.03 Td (\(2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 464.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 449.48 Td (Net Income ) Tj ET Q q 0 0 0 rg BT 108.70 449.48 Td (Attributable to Common Shareholders) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 448.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 413.90 448.98 Td (3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 448.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 448.98 Td (23) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 448.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 449.03 Td (\(20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 448.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET endstream endobj 161 0 obj <> endobj 162 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (78) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 741.25 Td (Operating revenues less fuel and purchased power expenses.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 372.37 741.25 Td ( Regulated electricity segment operating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.45 Td (revenues less fuel and purchased power expenses were $29 million higher for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 426.01 727.45 Td (three months ended March ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.65 Td (31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 89.75 713.65 Td ( compared with the prior) Tj ET Q q 0 0 0 rg BT 203.21 713.65 Td (-year period. ) Tj ET Q q 0 0 0 rg BT 267.50 713.65 Td (The following table summarizes the major components of this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.85 Td (change:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 602.35 270.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.25 602.35 77.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.25 602.35 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.25 602.35 78.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.25 602.35 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.25 602.35 79.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 559.35 270.00 -54.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.25 559.35 77.00 -54.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.25 559.35 4.00 -54.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.25 559.35 78.00 -54.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.25 559.35 4.00 -54.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.25 559.35 79.00 -54.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 460.35 270.00 -44.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.25 460.35 77.00 -44.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.25 460.35 4.00 -44.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.25 460.35 78.00 -44.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.25 460.35 4.00 -44.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.25 460.35 79.00 -44.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 400.35 270.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.25 400.35 77.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.25 400.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.25 400.35 78.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.25 400.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.25 400.35 79.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 368.35 270.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.25 368.35 77.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.25 368.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.25 368.35 78.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.25 368.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.25 368.35 79.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 674.35 m 396.25 674.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.25 674.35 m 400.25 674.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 674.35 m 478.25 674.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.25 674.35 m 482.25 674.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 674.35 m 561.25 674.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 617.35 m 396.25 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 674.35 m 478.25 674.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 617.35 m 478.25 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 674.35 m 561.25 674.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 617.35 m 561.25 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 617.35 m 396.25 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 617.35 m 478.25 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 617.35 m 561.25 617.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 368.35 m 396.25 368.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 368.35 m 396.25 368.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 353.35 m 396.25 353.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 351.35 m 396.25 351.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 368.35 m 478.25 368.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 353.35 m 478.25 353.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 351.35 m 478.25 351.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 368.35 m 561.25 368.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 353.35 m 561.25 353.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 351.35 m 561.25 351.35 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 51.75 679.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 393.95 679.25 Td (Incr) Tj ET Q q 0 0 0 rg BT 414.01 679.25 Td (ease\(Decr) Tj ET Q q 0 0 0 rg BT 462.36 679.25 Td (ease\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 51.75 622.25 Td () Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 330.90 634.47 Td (Operating) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 334.65 622.47 Td (r) Tj ET Q q 0 0 0 rg BT 339.76 622.47 Td (evenues) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 416.20 658.47 Td (Fueland) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 412.15 646.47 Td (pur) Tj ET Q q 0 0 0 rg BT 430.61 646.47 Td (chased) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 422.85 634.47 Td (power) Tj ET Q q 0 0 0 rg BT 454.63 634.47 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 416.40 622.47 Td (expenses) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 493.90 622.36 Td (Netchange) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 393.90 607.25 Td (\(dollarsinmillions\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 591.88 Td (Impacts of retail regulatory settlement ef) Tj ET Q q 0 0 0 rg BT 239.09 591.88 Td (fective ) Tj ET Q q 0 0 0 rg BT 272.83 591.88 Td (August) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 65.25 580.38 Td (19, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 321.75 580.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.25 580.38 Td (30) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.25 580.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 484.75 580.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 545.25 580.38 Td (30) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 564.38 Td (Higher transmission revenues \(Note 4\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.25 564.38 Td (14) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.25 564.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 545.25 564.38 Td (14) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 544.88 Td (Higher retail revenue due to customer growth and higher) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 65.25 533.38 Td (average ef) Tj ET Q q 0 0 0 rg BT 112.70 533.38 Td (fective prices due to customer usage) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 65.25 521.88 Td (patterns and changes relating to customer program) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 65.25 510.38 Td (participation \(a\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.25 510.38 Td (12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.25 510.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 545.25 510.38 Td (12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 488.38 Td (Higher renewable ener) Tj ET Q q 0 0 0 rg BT 156.37 488.38 Td (gy regulatory surchar) Tj ET Q q 0 0 0 rg BT 254.51 488.38 Td (ges and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 65.25 476.88 Td (lower purchased power) Tj ET Q q 0 0 0 rg BT 172.31 476.88 Td (, partially of) Tj ET Q q 0 0 0 rg BT 228.50 476.88 Td (fset in operations) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 65.25 465.38 Td (and maintenance costs) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 386.00 465.38 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.15 465.38 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.75 465.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 545.25 465.38 Td (10) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 444.38 Td (Changes in net fuel and purchased power costs,) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 65.25 432.88 Td (including of) Tj ET Q q 0 0 0 rg BT 121.04 432.88 Td (f-system sales mar) Tj ET Q q 0 0 0 rg BT 206.42 432.88 Td (gins and related) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 65.25 421.38 Td (deferrals) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 386.00 421.38 Td (3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.15 421.38 Td (\(3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.75 421.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.00 421.38 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 405.38 Td (Refunds due to lower Federal income tax rates \(Note 4\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.40 405.38 Td (\(30) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.75 405.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.25 405.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.40 405.38 Td (\(30) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 556.75 405.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 389.38 Td (Ef) Tj ET Q q 0 0 0 rg BT 62.40 389.38 Td (fects of weather) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.40 389.38 Td (\(21) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.75 389.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.15 389.38 Td (\(7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.75 389.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.40 389.38 Td (\(14) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 556.75 389.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 373.38 Td (Miscellaneous items, net) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.25 373.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.15 373.38 Td (\(1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.75 373.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.00 373.38 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 357.38 Td (T) Tj ET Q q 0 0 0 rg BT 57.97 357.38 Td (otal) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 321.75 357.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.25 357.38 Td (14) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.75 357.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 458.40 357.38 Td (\(15) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.75 357.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 484.75 357.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 545.25 357.38 Td (29) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 333.05 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 103.50 333.05 Td (Partially of) Tj ET Q q 0 0 0 rg BT 154.71 333.05 Td (fset by the impacts of ef) Tj ET Q q 0 0 0 rg BT 265.32 333.05 Td (ficiency programs and distributed generation.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 305.45 Td (Operations and maintenance) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 222.88 305.45 Td (. Operations and maintenance expenses increased $37 million for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 291.65 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.57 291.65 Td ( compared with the prior) Tj ET Q q 0 0 0 rg BT 329.03 291.65 Td (-year period primarily because of:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 264.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 264.05 Td (An increase of $14 million in fossil generation costs primarily due to higher planned outage costs;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 236.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 236.45 Td (An increase of $13 million related to costs for renewable ener) Tj ET Q q 0 0 0 rg BT 387.50 236.45 Td (gy and similar regulatory programs, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 222.65 Td (which are partially of) Tj ET Q q 0 0 0 rg BT 201.96 222.65 Td (fset in operating revenues and purchased power; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 195.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 195.05 Td (An increase of $5 million in transmission, distribution, and customer service costs primarily due to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 181.25 Td (maintenance costs; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 153.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 153.65 Td (An increase of $4 million for costs related to information technology; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 126.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 126.05 Td (An increase of $1 million related to miscellaneous other factors.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 98.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 98.45 Td (Depreciation and amortization.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 233.42 98.45 Td ( Depreciation and amortization expenses were $17 million higher for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 84.65 Td (the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 66.42 84.65 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.50 84.65 Td ( compared with the prior) Tj ET Q q 0 0 0 rg BT 345.96 84.65 Td (-year period primarily related to increased ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 70.85 Td (depreciation and amortization rates of $14 million and increased plant in service of $3 million.) Tj ET Q endstream endobj 163 0 obj <> endobj 164 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (79) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 741.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 741.25 Td (T) Tj ET Q q 0 0 0 rg BT 91.47 741.25 Td (axes other than income taxes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.35 741.25 Td ( ) Tj ET Q q 0 0 0 rg BT 237.90 741.25 Td (T) Tj ET Q q 0 0 0 rg BT 244.12 741.25 Td (axes other than income taxes were $9 million higher for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.00 741.25 Td (three ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.45 Td (months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 189.71 727.45 Td ( compared with the prior) Tj ET Q q 0 0 0 rg BT 303.17 727.45 Td (-year period primarily due to higher property values and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.65 Td (the amortization of our property tax deferral regulatory asset.) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 686.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 686.05 Td (All other income and expenses, net.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 253.86 686.05 Td ( ) Tj ET Q q 0 0 0 rg BT 258.97 686.05 Td (All other income and expenses, net were $15 million higher for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.25 Td (the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 66.42 672.25 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.50 672.25 Td ( compared with the prior) Tj ET Q q 0 0 0 rg BT 345.96 672.25 Td (-year period primarily due to higher pension ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.45 Td (and other postretirement non-service credits and favorable allowance for equity funds used during ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.65 Td (construction. See Notes 5 and 13 for additional details related to the adoption of ) Tj ET Q q 0 0 0 rg BT 422.53 644.65 Td (ASU 2017-07, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.85 Td (Compensation-Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 617.05 Td (Postretirement Benefit Cost. ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 589.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 589.45 Td (Income taxes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 151.30 589.45 Td ( Income taxes were $6 million lower for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 358.88 589.45 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 524.95 589.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.65 Td (compared with the prior) Tj ET Q q 0 0 0 rg BT 160.08 575.65 Td (-year period primarily due to the ef) Tj ET Q q 0 0 0 rg BT 321.45 575.65 Td (fects of lower pretax income in the current year ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.85 Td (period and the ef) Tj ET Q q 0 0 0 rg BT 126.89 561.85 Td (fects of the federal tax reform, partially of) Tj ET Q q 0 0 0 rg BT 320.17 561.85 Td (fset by lower tax benefits primarily due to stock ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 548.05 Td (compensation. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.15 520.45 Td (LIQUIDITY) Tj ET Q q 0 0 0 rg BT 260.35 520.45 Td ( ) Tj ET Q q 0 0 0 rg BT 262.59 520.45 Td (AND CAPIT) Tj ET Q q 0 0 0 rg BT 325.31 520.45 Td (AL) Tj ET Q q 0 0 0 rg BT 340.65 520.45 Td ( RESOURCES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 506.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 492.85 Td (Overview) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 479.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 465.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 465.25 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 465.25 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 465.25 Td (s primary cash needs are for dividends to our shareholders and principal and interest ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.45 Td (payments on our indebtedness. ) Tj ET Q q 0 0 0 rg BT 196.85 451.45 Td (The level of our common stock dividends and future dividend growth will be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.65 Td (dependent on declaration by our Board of Directors and based on a number of factors, including our financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.85 Td (condition, payout ratio, free cash flow and other factors.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 410.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 396.25 Td (Our primary sources of cash are dividends from ) Tj ET Q q 0 0 0 rg BT 307.77 396.25 Td (APS and external debt and equity issuances. ) Tj ET Q q 0 0 0 rg BT 516.33 396.25 Td (An ) Tj ET Q q 0 0 0 rg BT 532.63 396.25 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.45 Td (order requires ) Tj ET Q q 0 0 0 rg BT 115.92 382.45 Td (APS to maintain a common equity ratio of at least ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 349.08 382.45 Td (40%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 370.15 382.45 Td (. ) Tj ET Q q 0 0 0 rg BT 378.15 382.45 Td (As defined in the related ) Tj ET Q q 0 0 0 rg BT 493.43 382.45 Td (ACC order) Tj ET Q q 0 0 0 rg BT 543.75 382.45 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.65 Td (the common equity ratio is defined as total shareholder equity divided by the sum of total shareholder equity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.85 Td (and long-term debt, including current maturities of long-term debt. ) Tj ET Q q 0 0 0 rg BT 361.84 354.85 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.22 354.85 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 449.36 354.85 Td (, ) Tj ET Q q 0 0 0 rg BT 454.47 354.85 Td (APS) Tj ET Q q 0 0 0 rg BT 478.77 354.85 Td (s common equity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 341.05 Td (ratio, as defined, was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 149.77 341.05 Td (53%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 170.85 341.05 Td (. Its total shareholder equity was approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 395.37 341.05 Td ($5.3 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 448.40 341.05 Td (, and total capitalization ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.25 Td (was approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.56 327.25 Td ($10.0 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 198.34 327.25 Td (. Under this order) Tj ET Q q 0 0 0 rg BT 281.87 327.25 Td (, ) Tj ET Q q 0 0 0 rg BT 286.99 327.25 Td (APS would be prohibited from paying dividends if such ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.45 Td (payment would reduce its total shareholder equity below approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 382.59 313.45 Td ($4.0 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 435.62 313.45 Td (, assuming ) Tj ET Q q 0 0 0 rg BT 487.06 313.45 Td (APS) Tj ET Q q 0 0 0 rg BT 511.35 313.45 Td (s total ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.65 Td (capitalization remains the same. ) Tj ET Q q 0 0 0 rg BT 202.57 299.65 Td (This restriction does not materially af) Tj ET Q q 0 0 0 rg BT 375.14 299.65 Td (fect Pinnacle ) Tj ET Q q 0 0 0 rg BT 437.52 299.65 Td (W) Tj ET Q q 0 0 0 rg BT 447.45 299.65 Td (est) Tj ET Q q 0 0 0 rg BT 463.42 299.65 Td (s ability to meet its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.85 Td (ongoing cash needs or ability to pay dividends to shareholders.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 272.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 258.25 Td (APS) Tj ET Q q 0 0 0 rg BT 109.79 258.25 Td (s capital requirements consist primarily of capital expenditures and maturities of long-term debt. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.45 Td (APS funds its capital requirements with cash from operations and, to the extent necessary) Tj ET Q q 0 0 0 rg BT 460.74 244.45 Td (, external debt ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.65 Td (financing and equity infusions from Pinnacle ) Tj ET Q q 0 0 0 rg BT 259.45 230.65 Td (W) Tj ET Q q 0 0 0 rg BT 269.38 230.65 Td (est.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 203.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 203.05 Td (On December 22, 2017, the ) Tj ET Q q 0 0 0 rg BT 215.27 203.05 Td (T) Tj ET Q q 0 0 0 rg BT 221.49 203.05 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 301.36 203.05 Td (Act of 2017 was enacted. ) Tj ET Q q 0 0 0 rg BT 423.03 203.05 Td (As a result of this legislation, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 189.25 Td (bonus depreciation is no longer available for regulated public utility company property acquired, or that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 175.45 Td (commenced construction, after September 27, 2017. ) Tj ET Q q 0 0 0 rg BT 292.32 175.45 Td (The final legislative language contains a transition rule for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.65 Td (property which was acquired, or under construction, prior to September 28, 2017 which would allow at least ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.85 Td (some part of ) Tj ET Q q 0 0 0 rg BT 109.23 147.85 Td (APS) Tj ET Q q 0 0 0 rg BT 133.52 147.85 Td (s capital projects under construction at that time to continue to qualify for bonus depreciation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 134.05 Td (under pre-Act rules. However) Tj ET Q q 0 0 0 rg BT 186.35 134.05 Td (, because of current ambiguities regarding the scope of this transition rule, it is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.25 Td (unclear how much of ) Tj ET Q q 0 0 0 rg BT 149.14 120.25 Td (APS) Tj ET Q q 0 0 0 rg BT 173.43 120.25 Td (s capital projects which were under construction prior to September 28, 2017, will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 106.45 Td (qualify) Tj ET Q q 0 0 0 rg BT 81.33 106.45 Td (. ) Tj ET Q q 0 0 0 rg BT 86.87 106.45 Td (The Company currently believes the continued availability of bonus depreciation for property under ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 92.65 Td (construction prior to September 28, 2017 will generate at least $60 million - $75 million of cash tax benefits ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 78.85 Td (over the next two years. ) Tj ET Q q 0 0 0 rg BT 162.34 78.85 Td (These benefits may be higher if the current ambiguities in the legislative language are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 65.05 Td (clarified in a manner which allows additional expenditures incurred after September 27, 2017, related to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 51.25 Td (ongoing capital projects under construction as of that date, to qualify for bonus depreciation. ) Tj ET Q q 0 0 0 rg BT 480.75 51.25 Td (The cash ) Tj ET Q endstream endobj 165 0 obj <> endobj 166 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (80) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 743.55 Td (generated by bonus depreciation is an acceleration of the tax benefits that ) Tj ET Q q 0 0 0 rg BT 389.26 743.55 Td (APS would have otherwise received ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 729.75 Td (over 20 years and reduces rate base for ratemaking purposes. ) Tj ET Q q 0 0 0 rg BT 332.10 729.75 Td (At Pinnacle ) Tj ET Q q 0 0 0 rg BT 388.75 729.75 Td (W) Tj ET Q q 0 0 0 rg BT 398.68 729.75 Td (est Consolidated, when coupled ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 715.95 Td (with a lower 21 percent corporate tax rate, the continued availability of bonus depreciation to this transition ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 702.15 Td (period property is expected to delay until 2019 full cash realization of approximately $85 million of currently ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 688.35 Td (unrealized Investment ) Tj ET Q q 0 0 0 rg BT 154.03 688.35 Td (T) Tj ET Q q 0 0 0 rg BT 160.25 688.35 Td (ax Credits and other tax credits, which are recorded as a deferred tax asset on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 674.55 Td (Condensed Consolidated Balance Sheet as of March 31, 2018.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 646.95 Td (Summary of Cash Flows) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 633.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 619.35 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 49.50 605.55 Td (activities for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 127.10 605.55 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 293.17 605.55 Td ( and 2017 \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 591.75 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 49.5 576.417041015625 m 180.91748046875 576.417041015625 l s q 0 0 0 rg BT 49.50 577.95 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 577.95 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 577.95 Td (est Consolidated ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 526.45 313.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 526.45 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 526.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 526.45 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 526.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 526.45 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 494.45 313.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 494.45 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 494.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 494.45 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 494.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 494.45 64.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 541.45 m 427 541.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 541.45 m 431 541.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 541.45 m 495 541.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 526.45 m 427 526.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 526.45 m 495 526.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 526.45 m 563 526.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 526.45 m 427 526.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 526.45 m 495 526.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 526.45 m 563 526.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 478.45 m 427 478.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 478.45 m 495 478.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 478.45 m 563 478.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 478.45 m 427 478.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 463.45 m 427 463.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 461.45 m 427 461.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 478.45 m 495 478.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 463.45 m 495 463.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 461.45 m 495 461.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 478.45 m 563 478.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 463.45 m 563 463.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 461.45 m 563 461.45 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 546.35 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 378.45 557.35 Td (Thr) Tj ET Q q 0 0 0 rg BT 396.69 557.35 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 403.05 546.35 Td (Mar) Tj ET Q q 0 0 0 rg BT 426.47 546.35 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 522.25 546.35 Td (Net) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 531.35 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 383.50 531.35 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 451.50 531.35 Td (2017) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 512.45 531.35 Td (Change) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 515.48 Td (Net cash flow provided by operating activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 365.50 515.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.40 515.48 Td (167) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 433.50 515.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.40 515.48 Td (140) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 501.50 515.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 515.48 Td (27) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 499.48 Td (Net cash flow used for investing activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 401.55 499.53 Td (\(361) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 422.65 499.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.55 499.53 Td (\(349) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.65 499.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 499.53 Td (\(12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 499.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 483.48 Td (Net cash flow provided by financing activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.40 483.48 Td (196) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.40 483.48 Td (203) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 549.05 483.53 Td (\(7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 483.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 467.48 Td (Net increase \(decrease\) in cash and cash equivalents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 365.50 467.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 416.90 467.48 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 433.50 467.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 481.05 467.53 Td (\(6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.65 467.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 501.50 467.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 552.90 467.48 Td (8) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET 0 0 0 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 49.5 433.817041015625 m 203.759765625 433.817041015625 l s q 0 0 0 rg BT 49.50 435.35 Td (Arizona Public Service Company) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 383.85 313.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 383.85 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 383.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 383.85 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 383.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 383.85 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 351.85 313.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 351.85 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 351.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 351.85 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 351.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 351.85 64.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 398.85 m 427 398.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 398.85 m 431 398.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 398.85 m 495 398.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 383.85 m 427 383.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 383.85 m 495 383.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 383.85 m 563 383.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 383.85 m 427 383.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 383.85 m 495 383.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 383.85 m 563 383.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 335.85 m 427 335.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 335.85 m 495 335.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 335.85 m 563 335.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 335.85 m 427 335.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 320.85 m 427 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 318.85 m 427 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 335.85 m 495 335.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 320.85 m 495 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 318.85 m 495 318.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 335.85 m 563 335.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 320.85 m 563 320.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 318.85 m 563 318.85 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 403.75 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 378.45 414.75 Td (Thr) Tj ET Q q 0 0 0 rg BT 396.69 414.75 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 403.05 403.75 Td (Mar) Tj ET Q q 0 0 0 rg BT 426.47 403.75 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 522.25 403.75 Td (Net) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 388.75 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 383.50 388.75 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 451.50 388.75 Td (2017) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 512.45 388.75 Td (Change) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 372.88 Td (Net cash flow provided by operating activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 365.50 372.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.40 372.88 Td (177) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 433.50 372.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.40 372.88 Td (174) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 501.50 372.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 552.90 372.88 Td (3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 356.88 Td (Net cash flow used for investing activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 401.55 356.93 Td (\(355) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 422.65 356.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.55 356.93 Td (\(343) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.65 356.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 356.93 Td (\(12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 356.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 340.88 Td (Net cash flow provided by financing activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.40 340.88 Td (178) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.40 340.88 Td (163) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 340.88 Td (15) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 324.88 Td (Net increase \(decrease\) in cash and cash equivalents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 365.50 324.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 411.15 324.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 433.50 324.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 481.05 324.93 Td (\(6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.65 324.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 501.50 324.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 552.90 324.88 Td (6) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 306.55 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 292.75 Td (Operating Cash Flows) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 278.95 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 265.15 Td (Three-month period ended ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 214.87 265.15 Td (March31, 2018) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 289.95 265.15 Td ( compared with three-month period ended ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 491.21 265.15 Td (March31, ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 251.35 Td (2017) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 72.50 251.35 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 78.25 251.35 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 123.39 251.35 Td (W) Tj ET Q q 0 0 0 rg BT 133.33 251.35 Td (est) Tj ET Q q 0 0 0 rg BT 149.30 251.35 Td (s consolidated net cash provided by operating activities was $167 million in 2018 and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.55 Td ($140 million in 2017. ) Tj ET Q q 0 0 0 rg BT 154.71 237.55 Td (The increase of $27 million in net cash provided is primarily due to higher cash receipts ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 223.75 Td (from operating activities and lower payments for fuel and purchased power) Tj ET Q q 0 0 0 rg BT 395.20 223.75 Td (, partially of) Tj ET Q q 0 0 0 rg BT 451.52 223.75 Td (fset by higher payments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 209.95 Td (for operations and maintenance and other cash payments. ) Tj ET Q q 0 0 0 rg BT 318.81 209.95 Td (The dif) Tj ET Q q 0 0 0 rg BT 352.13 209.95 Td (ference between ) Tj ET Q q 0 0 0 rg BT 429.39 209.95 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 515.11 209.95 Td (W) Tj ET Q q 0 0 0 rg BT 525.04 209.95 Td (est's net ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.15 Td (cash provided by operating activities primarily relates to Pinnacle ) Tj ET Q q 0 0 0 rg BT 354.28 196.15 Td (W) Tj ET Q q 0 0 0 rg BT 364.21 196.15 Td (est cash payments for 4CA) Tj ET Q q 0 0 0 rg BT 487.49 196.15 Td ( operating costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 182.35 Td (and dif) Tj ET Q q 0 0 0 rg BT 81.55 182.35 Td (ferences in other operating cash payments. ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 154.75 Td (Retirement plans and other postretirement benefits. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 331.81 154.75 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 374.08 154.75 Td (W) Tj ET Q q 0 0 0 rg BT 384.01 154.75 Td (est sponsors a qualified defined ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 140.95 Td (benefit pension plan and a non-qualified supplemental excess benefit retirement plan for the employees of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.15 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 127.15 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 127.15 Td (est and our subsidiaries. ) Tj ET Q q 0 0 0 rg BT 217.75 127.15 Td (The requirements of the Employee Retirement Income Security ) Tj ET Q q 0 0 0 rg BT 512.19 127.15 Td (Act of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 113.35 Td (1974 \("ERISA"\) require us to contribute a minimum amount to the qualified plan. ) Tj ET Q q 0 0 0 rg BT 432.05 113.35 Td (W) Tj ET Q q 0 0 0 rg BT 441.98 113.35 Td (e contribute at least the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 99.55 Td (minimum amount required under ERISA) Tj ET Q q 0 0 0 rg BT 237.31 99.55 Td ( regulations, but no more than the maximum tax-deductible amount. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.75 Td (The minimum required funding takes into consideration the value of plan assets and our pension benefit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 71.95 Td (obligations. Under ERISA, the qualified pension plan was 1) Tj ET Q q 0 0 0 rg BT 327.91 71.95 Td (16% funded as of January1, 2018 and 1) Tj ET Q q 0 0 0 rg BT 512.40 71.95 Td (15% as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.15 Td (January 1, 2017. Under GAAP) Tj ET Q q 0 0 0 rg BT 192.92 58.15 Td (, the qualified pension plan was 95% funded as of January1, 2018 and 88% ) Tj ET Q endstream endobj 167 0 obj <> endobj 168 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (81) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 743.55 Td (funded as of January1, 2017. See Note 5 for additional details. ) Tj ET Q q 0 0 0 rg BT 347.91 743.55 Td (The assets in the plan are comprised of fixed-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 729.75 Td (income, equity) Tj ET Q q 0 0 0 rg BT 117.10 729.75 Td (, real estate, and short-term investments. Future year contribution amounts are dependent on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 715.95 Td (plan asset performance and plan actuarial assumptions. ) Tj ET Q q 0 0 0 rg BT 308.28 715.95 Td (W) Tj ET Q q 0 0 0 rg BT 318.21 715.95 Td (e have made voluntary contributions of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 504.40 715.95 Td ($50 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.75 715.95 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 702.15 Td (to our pension plan year) Tj ET Q q 0 0 0 rg BT 160.41 702.15 Td (-to-date in 2018. ) Tj ET Q q 0 0 0 rg BT 242.28 702.15 Td (The minimum required contributions for the pension plan are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 526.84 702.15 Td (zero) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.63 702.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 688.35 Td (for the next three years. ) Tj ET Q q 0 0 0 rg BT 163.92 688.35 Td (W) Tj ET Q q 0 0 0 rg BT 173.86 688.35 Td (e expect to make voluntary contributions up to a total of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 434.78 688.35 Td ($250 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 493.88 688.35 Td ( during the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 674.55 Td (2018-2020 period. ) Tj ET Q q 0 0 0 rg BT 140.00 674.55 Td (W) Tj ET Q q 0 0 0 rg BT 149.94 674.55 Td (e do not expect to make any contributions over the next three years to our other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 660.75 Td (postretirement benefit plans. ) Tj ET Q q 0 0 0 rg BT 186.08 660.75 Td (Y) Tj ET Q q 0 0 0 rg BT 193.23 660.75 Td (ear to date in 2018, the Company was reimbursed $22 million for prior year ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 646.95 Td (retiree medical claims from the other postretirement benefit plan trust assets.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 619.35 Td (Investing Cash Flows) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 605.55 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 591.75 Td (Three-month period ended ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 214.87 591.75 Td (March31, 2018) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 289.95 591.75 Td ( compared with three-month period ended ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 491.21 591.75 Td (March31, ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 577.95 Td (2017) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 72.50 577.95 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 78.25 577.95 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 123.39 577.95 Td (W) Tj ET Q q 0 0 0 rg BT 133.33 577.95 Td (est) Tj ET Q q 0 0 0 rg BT 149.30 577.95 Td (s consolidated net cash used for investing activities was $361 million in 2018, compared ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 564.15 Td (to $349 million in 2017, an increase of $12 million in net cash used primarily related to increased capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 550.35 Td (expenditures.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 536.55 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 522.75 Td (Capital Expenditures.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 189.02 522.75 Td ( ) Tj ET Q q 0 0 0 rg BT 194.56 522.75 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 49.50 508.95 Td (three years:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 495.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 253.50 481.35 Td (Capital Expenditur) Tj ET Q q 0 0 0 rg BT 348.83 481.35 Td (es) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 260.30 467.55 Td (\(dollars in millions\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 416.05 307.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 416.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 416.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 416.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 416.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 416.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 384.05 307.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 384.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 384.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 384.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 384.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 384.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 352.05 307.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 352.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 352.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 352.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 352.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 352.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 320.05 307.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 320.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 320.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 320.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 320.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 320.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 288.05 307.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 288.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 288.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 288.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 288.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 288.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 256.05 307.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 256.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 256.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 256.05 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 256.05 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 256.05 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 357.5 431.04999999999995 m 422.5 431.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 431.04999999999995 m 426.5 431.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 431.04999999999995 m 491.5 431.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 431.04999999999995 m 495.5 431.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 431.04999999999995 m 560.5 431.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 431.04999999999995 m 422.5 431.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 416.04999999999995 m 422.5 416.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 431.04999999999995 m 426.5 431.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 431.04999999999995 m 491.5 431.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 416.04999999999995 m 491.5 416.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 431.04999999999995 m 495.5 431.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 431.04999999999995 m 560.5 431.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 416.04999999999995 m 560.5 416.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 256.04999999999995 m 422.5 256.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 256.04999999999995 m 491.5 256.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 256.04999999999995 m 560.5 256.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 256.04999999999995 m 422.5 256.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 241.04999999999995 m 422.5 241.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 239.04999999999995 m 422.5 239.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 256.04999999999995 m 491.5 256.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 241.04999999999995 m 491.5 241.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 239.04999999999995 m 491.5 239.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 256.04999999999995 m 560.5 256.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 241.04999999999995 m 560.5 241.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 239.04999999999995 m 560.5 239.04999999999995 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 388.90 446.95 Td (Estimatedfor) Tj ET Q q 0 0 0 rg BT 453.16 446.95 Td (the) Tj ET Q q 0 0 0 rg BT 472.91 446.95 Td (Y) Tj ET Q q 0 0 0 rg BT 479.64 446.95 Td (ear) Tj ET Q q 0 0 0 rg BT 494.71 446.95 Td (Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 426.50 435.95 Td (December) Tj ET Q q 0 0 0 rg BT 473.94 435.95 Td (31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 53.00 420.95 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 378.50 420.95 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 447.50 420.95 Td (2019) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 516.50 420.95 Td (2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 53.00 405.08 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.00 405.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.00 405.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.00 405.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 59.00 389.08 Td (Generation:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.00 389.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.00 389.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.00 389.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 71.00 373.08 Td (Nuclear Fuel) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 360.00 373.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.65 373.08 Td (71) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 429.00 373.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 475.65 373.08 Td (64) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 498.00 373.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 544.65 373.08 Td (64) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 71.00 357.08 Td (Renewables) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.65 357.08 Td (16) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 475.65 357.08 Td (16) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 544.65 357.08 Td (17) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 340.97 Td (Environmental) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.65 341.08 Td (85) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 475.65 341.08 Td (25) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 544.65 341.08 Td (46) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 71.00 325.08 Td (New Gas Generation) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.90 325.08 Td (120) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 475.65 325.08 Td (10) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 544.65 325.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 71.00 309.08 Td (Other Generation) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.90 309.08 Td (214) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.90 309.08 Td (187) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 538.90 309.08 Td (132) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 59.00 293.08 Td (Distribution) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.90 293.08 Td (442) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.90 293.08 Td (545) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 538.90 293.08 Td (612) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 59.00 277.08 Td (T) Tj ET Q q 0 0 0 rg BT 65.82 277.08 Td (ransmission) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.90 277.08 Td (152) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.90 277.08 Td (191) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 538.90 277.08 Td (188) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 59.00 261.08 Td (Other \(a\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.65 261.08 Td (81) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.90 261.08 Td (1) Tj ET Q q 0 0 0 rg BT 475.65 261.08 Td (15) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 538.90 261.08 Td (152) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 71.00 245.08 Td (T) Tj ET Q q 0 0 0 rg BT 77.22 245.08 Td (otal ) Tj ET Q q 0 0 0 rg BT 96.71 245.08 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 360.00 245.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 392.25 245.08 Td (1,181) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 429.00 245.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 461.25 245.08 Td (1,153) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 498.00 245.08 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 530.25 245.08 Td (1,21) Tj ET Q q 0 0 0 rg BT 550.38 245.08 Td (1) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 212.95 Td (\(a\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.26 212.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 104.26 212.95 Td ( Primarily information systems and facilities projects.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 199.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 185.35 Td (Generation capital expenditures are comprised of various improvements to ) Tj ET Q q 0 0 0 rg BT 431.36 185.35 Td (APS) Tj ET Q q 0 0 0 rg BT 455.65 185.35 Td (s existing fossil, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 171.55 Td (renewable and nuclear plants. Examples of the types of projects included in this category are additions, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 157.75 Td (upgrades and capital replacements of various power plant equipment, such as turbines, boilers and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 143.95 Td (environmental equipment. ) Tj ET Q q 0 0 0 rg BT 175.76 143.95 Td (W) Tj ET Q q 0 0 0 rg BT 185.70 143.95 Td (e are monitoring the status of certain environmental matters, which, depending on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 130.15 Td (their final outcome, could require modification to our planned environmental expenditures. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 102.55 Td (On February 17, 2015, ) Tj ET Q q 0 0 0 rg BT 192.19 102.55 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 88.75 Td (purchase by ) Tj ET Q q 0 0 0 rg BT 106.98 88.75 Td (APS, or an af) Tj ET Q q 0 0 0 rg BT 168.74 88.75 Td (filiate of ) Tj ET Q q 0 0 0 rg BT 210.26 88.75 Td (APS, of El Paso) Tj ET Q q 0 0 0 rg BT 287.58 88.75 Td (s 7% interest in each of Units 4 and 5 of Four Corners. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 74.95 Td (4CA) Tj ET Q q 0 0 0 rg BT 70.59 74.95 Td ( purchased the El Paso interest on July 6, 2016. NTEC has the option to purchase the 7% interest within a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 61.15 Td (certain timeframe pursuant to an option granted to NTEC. On December 29, 2015, NTEC provided notice of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 47.35 Td (its intent to exercise the option. ) Tj ET Q q 0 0 0 rg BT 202.28 47.35 Td (The purchase did not occur during the originally contemplated timeframe. ) Tj ET Q endstream endobj 169 0 obj <> endobj 170 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (82) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 743.55 Td (\(See Note 8 for a discussion of the current status of the NTEC purchase.\) ) Tj ET Q q 0 0 0 rg BT 391.01 743.55 Td (The table above does not include ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 729.75 Td (capital expenditures related to 4CA's interest in Four Corners Units 4 and 5 of approximately $15 million in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 715.95 Td (2018, $7 million in 2019 and $6 million in 2020, which will be assumed by the ultimate owner of the 7% ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 702.15 Td (interest. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 674.55 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 49.50 660.75 Td (upgrades, capital replacements, and new customer construction. Examples of the types of projects included in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 646.95 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 49.50 633.15 Td (developments.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 619.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 605.55 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 49.50 591.75 Td (include issuances of long-term debt and Pinnacle ) Tj ET Q q 0 0 0 rg BT 277.64 591.75 Td (W) Tj ET Q q 0 0 0 rg BT 287.57 591.75 Td (est common stock.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 564.15 Td (Financing Cash Flows and Liquidity) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 550.35 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 536.55 Td (Three-month period ended ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 214.87 536.55 Td (March31, 2018) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 289.95 536.55 Td ( compared with three-month period ended ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 491.21 536.55 Td (March31, ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 49.50 522.75 Td (2017) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 72.50 522.75 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 78.25 522.75 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 123.39 522.75 Td (W) Tj ET Q q 0 0 0 rg BT 133.33 522.75 Td (est) Tj ET Q q 0 0 0 rg BT 149.30 522.75 Td (s consolidated net cash provided by financing activities was $196 million in 2018, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 508.95 Td (compared to $203 million of net cash provided in 2017, a decrease of $7 million in net cash provided. ) Tj ET Q q 0 0 0 rg BT 523.24 508.95 Td (The net ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 495.15 Td (cash provided by financing activities includes $255 million lower issuances of long-term debt through ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 481.35 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.64 481.35 Td (, which are partially of) Tj ET Q q 0 0 0 rg BT 226.85 481.35 Td (fset by $244 million of higher net short-term borrowings. ) Tj ET Q q 0 0 0 rg BT 495.90 481.35 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 467.55 Td (dif) Tj ET Q q 0 0 0 rg BT 62.07 467.55 Td (ference between ) Tj ET Q q 0 0 0 rg BT 139.32 467.55 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 225.04 467.55 Td (W) Tj ET Q q 0 0 0 rg BT 234.98 467.55 Td (est's net cash provided by financing activities primarily relates to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 453.75 Td (additional short-term borrowings at Pinnacle ) Tj ET Q q 0 0 0 rg BT 257.85 453.75 Td (W) Tj ET Q q 0 0 0 rg BT 267.78 453.75 Td (est on behalf of 4CA. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 439.95 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 426.15 Td (Significant Financing ) Tj ET Q q 0 0 0 rg BT 193.08 426.15 Td (Activities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 239.39 426.15 Td ( On ) Tj ET Q q 0 0 0 rg BT 261.44 426.15 Td (April 18, 2018, the Pinnacle ) Tj ET Q q 0 0 0 rg BT 393.78 426.15 Td (W) Tj ET Q q 0 0 0 rg BT 403.71 426.15 Td (est Board of Directors declared a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 412.35 Td (dividend of $0.695 per share of common stock, payable on June 1, 2018 to shareholders of record on May 1, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 398.55 Td (2018. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 370.95 Td ( ) Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 370.95 Td (A) Tj ET Q q 0 0 0 rg BT 92.32 370.95 Td (vailable Credit Facilities) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 208.58 370.95 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.33 370.95 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 259.48 370.95 Td (W) Tj ET Q q 0 0 0 rg BT 269.41 370.95 Td (est and ) Tj ET Q q 0 0 0 rg BT 303.91 370.95 Td (APS maintain committed revolving credit facilities in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 357.15 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 85.50 343.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 329.55 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.88 329.55 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 173.01 329.55 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 221.03 329.55 Td (W) Tj ET Q q 0 0 0 rg BT 230.97 329.55 Td (est had a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 274.08 329.55 Td ($200 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.18 329.55 Td ( facility that matures in May 2021. Pinnacle ) Tj ET Q q 0 0 0 rg BT 537.69 329.55 Td (W) Tj ET Q q 0 0 0 rg BT 547.62 329.55 Td (est ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 315.75 Td (has the option to increase the amount of the facility up to a maximum of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 384.52 315.75 Td ($300 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.62 315.75 Td ( upon the satisfaction of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 301.95 Td (certain conditions and with the consent of the lenders.) Tj ET Q q 0 0 0 rg BT 299.88 301.95 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 314.26 301.95 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.40 301.95 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 435.42 301.95 Td (W) Tj ET Q q 0 0 0 rg BT 445.35 301.95 Td (est had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 480.48 301.95 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 491.98 301.95 Td ( outstanding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 288.15 Td (borrowings under its credit facility) Tj ET Q q 0 0 0 rg BT 208.44 288.15 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.19 288.15 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 225.69 288.15 Td ( letters of credit outstanding and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 377.07 288.15 Td ($37.4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 439.04 288.15 Td ( of commercial paper ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 274.35 Td (borrowings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 246.75 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.88 246.75 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 173.01 246.75 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 221.03 246.75 Td (W) Tj ET Q q 0 0 0 rg BT 230.97 246.75 Td (est had a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 274.08 246.75 Td ($125 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.18 246.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 336.05 246.75 Td (364) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.30 246.75 Td (-day unsecured revolving credit facility that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 232.95 Td (matures on July 30, 2018. Borrowings under the facility bear interest at LIBOR plus ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 442.67 232.95 Td (0.80%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.37 232.95 Td ( per annum. ) Tj ET Q q 0 0 0 rg BT 532.10 232.95 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 219.15 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.64 219.15 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 170.66 219.15 Td (W) Tj ET Q q 0 0 0 rg BT 180.59 219.15 Td (est had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.72 219.15 Td ($77 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 269.07 219.15 Td ( outstanding under the facility) Tj ET Q q 0 0 0 rg BT 406.29 219.15 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 191.55 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 191.55 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.88 191.55 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 173.01 191.55 Td (, ) Tj ET Q q 0 0 0 rg BT 178.13 191.55 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 221.58 191.55 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.83 191.55 Td ( revolving credit facilities totaling ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.19 191.55 Td ($1 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 442.60 191.55 Td (, including a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 502.64 191.55 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 561.75 191.55 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 177.75 Td (facility that matures in May2021 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 206.00 177.75 Td (and a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.26 177.75 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 291.36 177.75 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 294.24 177.75 Td (credit facility that matures in June 2022. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.21 177.75 Td (APS may increase ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 163.95 Td (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 271.77 163.95 Td ($700 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 330.87 163.95 Td (, for a total of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 396.66 163.95 Td ($1.4 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 449.69 163.95 Td (, upon the satisfaction ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 150.15 Td (of certain conditions and with the consent of the lenders. Interest rates are based on ) Tj ET Q q 0 0 0 rg BT 437.51 150.15 Td (APS) Tj ET Q q 0 0 0 rg BT 461.80 150.15 Td (s senior unsecured ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 136.35 Td (debt credit ratings. ) Tj ET Q q 0 0 0 rg BT 140.95 136.35 Td (These facilities are available to support ) Tj ET Q q 0 0 0 rg BT 323.61 136.35 Td (APS) Tj ET Q q 0 0 0 rg BT 347.90 136.35 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 355.25 136.35 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 414.35 136.35 Td ( commercial paper program, for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 122.55 Td (bank borrowings or for issuances of letters of credit. ) Tj ET Q q 0 0 0 rg BT 295.09 122.55 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 309.47 122.55 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 382.61 122.55 Td (, ) Tj ET Q q 0 0 0 rg BT 387.72 122.55 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.18 122.55 Td ($255.5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 498.90 122.55 Td ( of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 108.75 Td (commercial paper outstanding and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 211.09 108.75 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 222.59 108.75 Td ( outstanding borrowings or letters of credit under its revolving credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 94.95 Td (facilities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 67.35 Td (See "Financial ) Tj ET Q q 0 0 0 rg BT 157.59 67.35 Td (Assurances" in Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 254.58 67.35 Td (8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 260.33 67.35 Td ( for a discussion of ) Tj ET Q q 0 0 0 rg BT 350.09 67.35 Td (APS) Tj ET Q q 0 0 0 rg BT 374.38 67.35 Td (s separate outstanding letters of credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 53.55 Td (and surety bonds.) Tj ET Q endstream endobj 171 0 obj <> endobj 172 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (83) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 743.55 Td () Tj ET Q BT /F3 11.50 Tf ET q 0 0 0 rg BT 85.50 729.75 Td (Other Financing Matters. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 213.63 729.75 Td (See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 258.34 729.75 Td (7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 264.09 729.75 Td ( for information related to the change in our mar) Tj ET Q q 0 0 0 rg BT 486.46 729.75 Td (gin and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 715.95 Td (collateral accounts.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 688.35 Td (Debt Pr) Tj ET Q q 0 0 0 rg BT 87.93 688.35 Td (ovisions) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 674.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 660.75 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 660.75 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 660.75 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 660.75 Td (s and ) Tj ET Q q 0 0 0 rg BT 179.87 660.75 Td (APS) Tj ET Q q 0 0 0 rg BT 204.16 660.75 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 49.50 646.95 Td (include maximum debt to capitalization ratios. Pinnacle ) Tj ET Q q 0 0 0 rg BT 311.49 646.95 Td (W) Tj ET Q q 0 0 0 rg BT 321.43 646.95 Td (est and ) Tj ET Q q 0 0 0 rg BT 355.92 646.95 Td (APS comply with this covenant. For both ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 633.15 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 633.15 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 633.15 Td (est and ) Tj ET Q q 0 0 0 rg BT 136.20 633.15 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 49.50 619.35 Td (capitalization not exceed 65%. ) Tj ET Q q 0 0 0 rg BT 195.75 619.35 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 210.13 619.35 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 283.27 619.35 Td (, the ratio was approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.95 619.35 Td (51%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.03 619.35 Td ( for Pinnacle ) Tj ET Q q 0 0 0 rg BT 502.46 619.35 Td (W) Tj ET Q q 0 0 0 rg BT 512.39 619.35 Td (est and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 605.55 Td (48%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.58 605.55 Td ( for ) Tj ET Q q 0 0 0 rg BT 89.10 605.55 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 49.50 591.75 Td (speaking, would require the immediate repayment of the debt subject to the covenants and could "cross-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 577.95 Td (default" other debt. See further discussion of "cross-default" provisions below) Tj ET Q q 0 0 0 rg BT 410.63 577.95 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 550.35 Td (Neither Pinnacle ) Tj ET Q q 0 0 0 rg BT 165.13 550.35 Td (W) Tj ET Q q 0 0 0 rg BT 175.06 550.35 Td (est) Tj ET Q q 0 0 0 rg BT 191.03 550.35 Td (s nor ) Tj ET Q q 0 0 0 rg BT 215.95 550.35 Td (APS) Tj ET Q q 0 0 0 rg BT 240.24 550.35 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 49.50 536.55 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 547.18 536.55 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 522.75 Td (our bank credit agreements and term loan facilities contain a pricing grid in which the interest rates we pay for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 508.95 Td (borrowings thereunder are determined by our current credit ratings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 495.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 481.35 Td (All of Pinnacle ) Tj ET Q q 0 0 0 rg BT 157.79 481.35 Td (W) Tj ET Q q 0 0 0 rg BT 167.73 481.35 Td (est) Tj ET Q q 0 0 0 rg BT 183.70 481.35 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 49.50 467.55 Td (and the potential acceleration of payment under these loan agreements if Pinnacle ) Tj ET Q q 0 0 0 rg BT 428.01 467.55 Td (W) Tj ET Q q 0 0 0 rg BT 437.94 467.55 Td (est or ) Tj ET Q q 0 0 0 rg BT 465.42 467.55 Td (APS were to default ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 453.75 Td (under certain other material agreements. ) Tj ET Q q 0 0 0 rg BT 240.13 453.75 Td (All of ) Tj ET Q q 0 0 0 rg BT 269.52 453.75 Td (APS) Tj ET Q q 0 0 0 rg BT 293.81 453.75 Td (s bank agreements contain "cross-default" provisions that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 439.95 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 498.81 439.95 Td (APS were to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 426.15 Td (default under certain other material agreements. Pinnacle ) Tj ET Q q 0 0 0 rg BT 317.83 426.15 Td (W) Tj ET Q q 0 0 0 rg BT 327.77 426.15 Td (est and ) Tj ET Q q 0 0 0 rg BT 362.26 426.15 Td (APS do not have a material adverse change ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 412.35 Td (restriction for credit facility borrowings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 384.75 Td (See Note 3 for further discussions of liquidity matters.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 357.15 Td () Tj ET Q endstream endobj 173 0 obj <> endobj 174 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (84) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 743.75 Td (Cr) Tj ET Q q 0 0 0 rg BT 62.70 743.75 Td (edit Ratings) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 729.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 716.15 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 716.15 Td (The ratings of securities of Pinnacle ) Tj ET Q q 0 0 0 rg BT 253.91 716.15 Td (W) Tj ET Q q 0 0 0 rg BT 263.85 716.15 Td (est and ) Tj ET Q q 0 0 0 rg BT 298.34 716.15 Td (APS as of ) Tj ET Q q 0 0 0 rg BT 346.59 716.15 Td (April 25, 2018 are shown below) Tj ET Q q 0 0 0 rg BT 494.04 716.15 Td (. ) Tj ET Q q 0 0 0 rg BT 502.46 716.15 Td (W) Tj ET Q q 0 0 0 rg BT 512.39 716.15 Td (e are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 702.35 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 49.50 688.55 Td (ability to access the markets for liquidity and long-term debt. ) Tj ET Q q 0 0 0 rg BT 336.09 688.55 Td (The ratings reflect the respective views of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 674.75 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 493.82 674.75 Td (There is no ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 660.95 Td (assurance that these ratings will continue for any given period of time. ) Tj ET Q q 0 0 0 rg BT 378.87 660.95 Td (The ratings may be revised or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 647.15 Td (withdrawn entirely by the rating agencies if, in their respective judgments, circumstances so warrant. ) Tj ET Q q 0 0 0 rg BT 518.95 647.15 Td (Any ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 633.35 Td (downward revision or withdrawal may adversely af) Tj ET Q q 0 0 0 rg BT 286.25 633.35 Td (fect the market price of Pinnacle ) Tj ET Q q 0 0 0 rg BT 438.67 633.35 Td (W) Tj ET Q q 0 0 0 rg BT 448.60 633.35 Td (est) Tj ET Q q 0 0 0 rg BT 464.57 633.35 Td (s or ) Tj ET Q q 0 0 0 rg BT 483.74 633.35 Td (APS) Tj ET Q q 0 0 0 rg BT 508.04 633.35 Td (s securities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 619.55 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 49.50 605.75 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 49.50 591.95 Td (policies, natural gas transportation, fuel supply) Tj ET Q q 0 0 0 rg BT 264.33 591.95 Td (, and other ener) Tj ET Q q 0 0 0 rg BT 335.65 591.95 Td (gy-related contracts. ) Tj ET Q q 0 0 0 rg BT 434.64 591.95 Td (At this time, we believe we ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 578.15 Td (have suf) Tj ET Q q 0 0 0 rg BT 87.93 578.15 Td (ficient available liquidity resources to respond to a downward revision to our credit ratings.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 538.85 214.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.00 538.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 538.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 538.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 538.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 538.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 506.85 214.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.00 506.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 506.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 506.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 506.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 506.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 474.85 214.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.00 474.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 474.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 474.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 474.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 474.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 442.85 214.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.00 442.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 442.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 442.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 442.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 442.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 410.85 214.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.00 410.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 410.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 410.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 410.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 410.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 378.85 214.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.00 378.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 378.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 378.85 97.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 378.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 378.85 97.00 -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 264 538.85 m 361 538.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 538.85 m 462 538.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 538.85 m 563 538.85 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 543.75 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 291.70 543.75 Td (Moody) Tj ET Q q 0 0 0 rg BT 328.16 543.75 Td (s) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 363.50 543.75 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 368.45 543.75 Td (Standard&Poor) Tj ET Q q 0 0 0 rg BT 449.83 543.75 Td () Tj ET Q q 0 0 0 rg BT 453.39 543.75 Td (s) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 464.50 543.75 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 501.75 543.75 Td (Fitch) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 527.75 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 95.48 527.75 Td (W) Tj ET Q q 0 0 0 rg BT 106.08 527.75 Td (est) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 312.00 527.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 363.50 527.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 413.00 527.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 464.50 527.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.00 527.77 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 511.88 Td (Corporate credit rating) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 304.95 511.88 Td (A3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.50 511.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.90 511.88 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.50 511.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.90 511.88 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 495.88 Td (Senior unsecured) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 304.95 495.88 Td (A3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.50 495.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.25 495.88 Td (BBB+) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.50 495.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.90 495.88 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 479.88 Td (Commercial paper) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 304.00 479.88 Td (P-2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.50 479.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.05 479.88 Td (A-2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.50 479.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.90 479.88 Td (F2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 463.88 Td (Outlook) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.60 463.88 Td (Stable) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.50 463.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 394.45 463.88 Td (Positive) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.50 463.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.60 463.88 Td (Stable) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 447.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.00 447.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.50 447.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 413.00 447.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.50 447.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 514.00 447.88 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 431.75 Td (APS) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 312.00 431.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 363.50 431.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 413.00 431.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 464.50 431.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.00 431.77 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 415.88 Td (Corporate credit rating) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 304.95 415.88 Td (A2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.50 415.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.90 415.88 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.50 415.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.90 415.88 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 399.88 Td (Senior unsecured) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 304.95 399.88 Td (A2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.50 399.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.90 399.88 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.50 399.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 510.15 399.88 Td (A) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 383.88 Td (Commercial paper) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 304.00 383.88 Td (P-1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.50 383.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.05 383.88 Td (A-2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.50 383.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.90 383.88 Td (F2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 367.88 Td (Outlook) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.60 367.88 Td (Stable) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.50 367.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 394.45 367.88 Td (Positive) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.50 367.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.60 367.88 Td (Stable) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 349.55 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 335.75 Td (Off-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 140.85 335.75 Td (Arrangements) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 308.15 Td (See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 130.21 308.15 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 135.96 308.15 Td ( for a discussion of the impacts on our financial statements of consolidating certain ) Tj ET Q q 0 0 0 rg BT 520.27 308.15 Td (VIEs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 294.35 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 280.55 Td (Contractual Obligations) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 266.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 252.95 Td (There have been no material changes, as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 286.98 252.95 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 360.12 252.95 Td (, outside the normal course of business in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 239.15 Td (contractual obligations from the information provided in our 2017 Form 10-K. See Note 3 for discussion ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 225.35 Td (regarding changes in our long-term debt obligations.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 207.55 183.95 Td (CRITICAL) Tj ET Q q 0 0 0 rg BT 264.43 183.95 Td ( ) Tj ET Q q 0 0 0 rg BT 266.67 183.95 Td (ACCOUNTING POLICIES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 170.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 156.35 Td (In preparing the financial statements in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 376.10 156.35 Td (, management must often make ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 142.55 Td (estimates and assumptions that af) Tj ET Q q 0 0 0 rg BT 203.24 142.55 Td (fect the reported amounts of assets, liabilities, revenues, expenses and related ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 128.75 Td (disclosures at the date of the financial statements and during the reporting period. Some of those judgments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 114.95 Td (can be subjective and complex, and actual results could dif) Tj ET Q q 0 0 0 rg BT 320.09 114.95 Td (fer from those estimates. ) Tj ET Q q 0 0 0 rg BT 439.33 114.95 Td (There have been no ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 101.15 Td (changes to our critical accounting policies since our 2017 Form10-K except for the adoption of the new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 87.35 Td (pension and other postretirement accounting guidance as noted below) Tj ET Q q 0 0 0 rg BT 369.38 87.35 Td (. See "Critical ) Tj ET Q q 0 0 0 rg BT 438.92 87.35 Td (Accounting Policies" in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 73.55 Td (Item 7 of the 2017 Form10-K for further details about our critical accounting policies.) Tj ET Q endstream endobj 175 0 obj <> endobj 176 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (85) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 743.55 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 743.55 Td (On January 1, 2018, we adopted new accounting standard ) Tj ET Q q 0 0 0 rg BT 353.45 743.55 Td (ASU 2017-07, Compensation-Retirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 729.75 Td (Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 715.95 Td (Cost. ) Tj ET Q q 0 0 0 rg BT 76.13 715.95 Td (This new standard changed our income statement presentation of net periodic benefit cost and allows ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 702.15 Td (only the service cost component of periodic net benefit cost to be eligible for capitalization. \(See Note 13 for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 688.35 Td (additional information.\)) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 214.70 646.95 Td (OTHER ) Tj ET Q q 0 0 0 rg BT 258.48 646.95 Td (ACCOUNTING MA) Tj ET Q q 0 0 0 rg BT 359.53 646.95 Td (TTERS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 613.15 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 613.15 Td (e adopted the following new accounting standards on January 1, 2018: ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 593.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 593.15 Td (ASU 2014-09: Revenue from Contracts with Customers, and related amendments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 573.10 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 573.10 Td (ASU 2016-01: Financial Instruments, Recognition and Measurement) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 553.10 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 553.10 Td (ASU 2016-15: Statement of Cash Flows, Classification of Certain Cash Receipts and Cash Payments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 533.10 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 533.10 Td (ASU 2016-18: Statement of Cash Flows, Restricted Cash) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 513.10 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 513.10 Td (ASU 2017-01: Business Combinations, Clarifying the Definition of a Business) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 493.10 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 493.10 Td (ASU 2017-05: Other Income, Clarifying the Scope of ) Tj ET Q q 0 0 0 rg BT 334.94 493.10 Td (Asset Derecognition Guidance and ) Tj ET Q q 0 0 0 rg BT 497.82 493.10 Td (Accounting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 473.05 Td (for Partial Sales of Nonfinancial ) Tj ET Q q 0 0 0 rg BT 236.56 473.05 Td (Assets) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 453.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 453.05 Td (ASU 2017-07: Compensation-Retirement Benefits, Improving the Presentation of Net Periodic Pension ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 433.05 Td (Cost and Net Periodic Postretirement Benefit Cost) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 413.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 413.05 Td (ASU 2018-02: Income Statement-Reporting Comprehensive Income, Reclassification of Certain ) Tj ET Q q 0 0 0 rg BT 532.42 413.05 Td (T) Tj ET Q q 0 0 0 rg BT 538.64 413.05 Td (ax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 393.05 Td (Ef) Tj ET Q q 0 0 0 rg BT 96.15 393.05 Td (fects from ) Tj ET Q q 0 0 0 rg BT 145.33 393.05 Td (Accumulated Other Comprehensive Income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 366.35 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 366.35 Td (e are currently evaluating the impacts of the pending adoption of the following new accounting standards:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 346.35 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 346.35 Td (ASU 2016-02: Leases, and related amendments, ef) Tj ET Q q 0 0 0 rg BT 319.06 346.35 Td (fective for us on January 1, 2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 326.35 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 326.35 Td (ASU 2016-13: Financial Instruments, Measurement of Credit Losses, ef) Tj ET Q q 0 0 0 rg BT 416.82 326.35 Td (fective for us on January 1, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 306.30 Td (2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 286.30 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 286.30 Td (ASU 2017-12: Derivatives and Hedging, ) Tj ET Q q 0 0 0 rg BT 276.29 286.30 Td (T) Tj ET Q q 0 0 0 rg BT 282.51 286.30 Td (ar) Tj ET Q q 0 0 0 rg BT 291.24 286.30 Td (geted Improvements to ) Tj ET Q q 0 0 0 rg BT 399.51 286.30 Td (Accounting for Hedging ) Tj ET Q q 0 0 0 rg BT 514.17 286.30 Td (Activities, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 266.30 Td (ef) Tj ET Q q 0 0 0 rg BT 94.23 266.30 Td (fective for us on January 1, 2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 227.15 Td (See Note 13 for additional information related to new accounting standards.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 224.25 171.95 Td (MARKET) Tj ET Q q 0 0 0 rg BT 275.79 171.95 Td ( ) Tj ET Q q 0 0 0 rg BT 278.03 171.95 Td (AND CREDIT) Tj ET Q q 0 0 0 rg BT 350.35 171.95 Td ( RISKS) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 144.35 Td (Market Risks) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 116.75 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 49.50 102.95 Td (investments held by our nuclear decommissioning trust, other special use funds and benefit plan assets.) Tj ET Q endstream endobj 177 0 obj <> endobj 178 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (86) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 729.75 Td (Inter) Tj ET Q q 0 0 0 rg BT 110.20 729.75 Td (est Rate and Equity Risk) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 702.15 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 702.15 Td (e have exposure to changing interest rates. Changing interest rates will af) Tj ET Q q 0 0 0 rg BT 434.69 702.15 Td (fect interest paid on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 688.35 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 49.50 674.55 Td (other special use funds \(see Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 204.06 674.55 Td (1) Tj ET Q q 0 0 0 rg BT 209.39 674.55 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.14 674.55 Td ( and Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 262.72 674.55 Td (12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 274.22 674.55 Td (\), and benefit plan assets. ) Tj ET Q q 0 0 0 rg BT 396.01 674.55 Td (The nuclear decommissioning trust, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 660.75 Td (other special use funds and benefit plan assets also have risks associated with the changing market value of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 646.95 Td (their equity and other non-fixed income investments. Nuclear decommissioning and benefit plan costs are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 633.15 Td (recovered in regulated electricity prices.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 605.55 Td (Commodity Price Risk) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 577.95 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 577.95 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 49.50 564.15 Td (electricity and natural gas. Our risk management committee, consisting of of) Tj ET Q q 0 0 0 rg BT 404.74 564.15 Td (ficers and key management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 550.35 Td (personnel, oversees company-wide ener) Tj ET Q q 0 0 0 rg BT 233.22 550.35 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 49.50 536.55 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 536.55 Td (gy risk management policies. ) Tj ET Q q 0 0 0 rg BT 209.40 536.55 Td (W) Tj ET Q q 0 0 0 rg BT 219.33 536.55 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 49.50 522.75 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 49.50 508.95 Td (swaps. ) Tj ET Q q 0 0 0 rg BT 85.60 508.95 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 49.50 495.15 Td (electricity and fuels. ) Tj ET Q q 0 0 0 rg BT 148.60 495.15 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 49.50 481.35 Td (the hedged commodities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 453.75 Td (The following table shows the net pretax changes in mark-to-market of our derivative positions for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 439.95 Td (three months ended March 31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.57 439.95 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 237.93 439.95 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 260.93 439.95 Td ( \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 388.45 367.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 388.45 71.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 388.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 388.45 71.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 356.45 367.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 356.45 71.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 356.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 356.45 71.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 324.45 367.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 324.45 71.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 324.45 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 324.45 71.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 403.45 m 488 403.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 403.45 m 492 403.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 403.45 m 563 403.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 403.45 m 488 403.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 388.45 m 488 388.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 403.45 m 563 403.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 388.45 m 563 388.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 388.45 m 488 388.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 388.45 m 563 388.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 308.45 m 488 308.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 308.45 m 488 308.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 293.45 m 488 293.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 291.45 m 488 291.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 308.45 m 563 308.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 293.45 m 563 293.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 291.45 m 563 291.45 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 408.35 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 439.45 419.35 Td (Thr) Tj ET Q q 0 0 0 rg BT 457.69 419.35 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 464.05 408.35 Td (Mar) Tj ET Q q 0 0 0 rg BT 487.47 408.35 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 393.35 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 441.00 393.35 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 516.00 393.35 Td (2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 377.48 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 419.50 377.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.30 377.53 Td (\(91) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.65 377.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 494.50 377.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 377.53 Td (\(49) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 377.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 361.48 Td (Decrease \(Increase\) in regulatory asset/liability) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.30 361.53 Td (\(21) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.65 361.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 361.53 Td (\(49) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 361.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 345.48 Td (Recognized in OCI:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 329.48 Td (Mark-to-market losses realized during the period) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.15 329.48 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 552.90 329.48 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 313.48 Td (Change in valuation techniques) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.15 313.48 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 313.48 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 297.48 Td (Mark-to-market of net positions at end of period) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.50 297.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.55 297.53 Td (\(1) Tj ET Q q 0 0 0 rg BT 472.13 297.53 Td (12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.65 297.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 494.50 297.48 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 297.53 Td (\(97) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 297.48 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 265.35 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 49.50 251.55 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.64 251.55 Td ( by maturities and by the type of valuation that is performed to calculate the fair values, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 237.75 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 49.50 223.95 Td (See Note 1, "Derivative ) Tj ET Q q 0 0 0 rg BT 161.18 223.95 Td (Accounting" and "Fair ) Tj ET Q q 0 0 0 rg BT 267.77 223.95 Td (V) Tj ET Q q 0 0 0 rg BT 274.80 223.95 Td (alue Measurements," in Item 8 of our 2017 Form10-K and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.15 Td (Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 74.73 210.15 Td (1) Tj ET Q q 0 0 0 rg BT 80.05 210.15 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.80 210.15 Td ( for more discussion of our valuation methods.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.00 162.65 188.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 162.65 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 162.65 59.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 162.65 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.00 162.65 59.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 162.65 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 162.65 59.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 162.65 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 162.65 59.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 162.65 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 162.65 59.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.00 108.65 188.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 108.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 108.65 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 108.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.00 108.65 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 108.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 108.65 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 108.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 108.65 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 108.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 108.65 59.00 -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 54 162.64999999999998 m 242 162.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 162.64999999999998 m 305 162.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 162.64999999999998 m 368 162.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 162.64999999999998 m 431 162.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 162.64999999999998 m 494 162.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 162.64999999999998 m 498 162.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 162.64999999999998 m 557 162.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 162.64999999999998 m 305 162.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 162.64999999999998 m 368 162.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 162.64999999999998 m 431 162.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 162.64999999999998 m 494 162.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 162.64999999999998 m 498 162.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 108.64999999999998 m 305 108.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 108.64999999999998 m 368 108.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 108.64999999999998 m 431 108.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 108.64999999999998 m 494 108.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 108.64999999999998 m 498 108.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 108.64999999999998 m 305 108.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 93.64999999999998 m 305 93.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 91.64999999999998 m 305 91.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 108.64999999999998 m 368 108.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 93.64999999999998 m 368 93.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 91.64999999999998 m 368 91.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 108.64999999999998 m 431 108.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 93.64999999999998 m 431 93.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 91.64999999999998 m 431 91.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 108.64999999999998 m 494 108.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 93.64999999999998 m 494 93.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 91.64999999999998 m 494 91.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 108.64999999999998 m 498 108.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 93.64999999999998 m 498 93.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 91.64999999999998 m 498 91.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 108.64999999999998 m 557 108.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 93.64999999999998 m 557 93.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 91.64999999999998 m 557 91.64999999999998 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 56.50 167.55 Td (Sour) Tj ET Q q 0 0 0 rg BT 78.92 167.55 Td (ceofFair) Tj ET Q q 0 0 0 rg BT 123.31 167.55 Td () Tj ET Q q 0 0 0 rg BT 125.86 167.55 Td (V) Tj ET Q q 0 0 0 rg BT 132.79 167.55 Td (alue) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 264.00 167.55 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 327.00 167.55 Td (2019) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 390.00 167.55 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 453.00 167.55 Td (2021) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 514.95 189.55 Td (T) Tj ET Q q 0 0 0 rg BT 521.28 189.55 Td (otal) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 518.50 178.55 Td (fair) Tj ET Q q 0 0 0 rg BT 535.40 178.55 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 514.45 167.55 Td (value) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 56.50 152.18 Td (Observable prices provided by other) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 56.50 140.68 Td (external sources) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 248.50 140.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 285.30 140.68 Td (\(51) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.65 140.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 311.50 140.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 348.30 140.73 Td (\(38) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.65 140.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 374.50 140.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 417.05 140.73 Td (\(2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 426.65 140.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 437.50 140.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 480.05 140.73 Td (\(1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.65 140.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 140.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 537.30 140.73 Td (\(92) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 552.65 140.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 56.50 113.68 Td (Prices based on unobservable inputs) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 291.05 113.68 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.65 113.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 348.30 113.73 Td (\(10) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.65 113.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 417.05 113.73 Td (\(6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 426.65 113.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 478.15 113.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 537.30 113.73 Td (\(20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 552.65 113.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 56.50 97.68 Td (T) Tj ET Q q 0 0 0 rg BT 62.72 97.68 Td (otal by maturity) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 248.50 97.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 285.30 97.68 Td (\(55) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.65 97.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 311.50 97.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 348.30 97.73 Td (\(48) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 363.65 97.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 374.50 97.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 417.05 97.73 Td (\(8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 426.65 97.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 437.50 97.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 480.05 97.73 Td (\(1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.65 97.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 97.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.55 97.73 Td (\(1) Tj ET Q q 0 0 0 rg BT 541.13 97.73 Td (12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 552.65 97.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET endstream endobj 179 0 obj <> endobj 180 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 85.50 743.55 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 49.50 729.75 Td (market value of our risk management assets and liabilities included on Pinnacle ) Tj ET Q q 0 0 0 rg BT 418.48 729.75 Td (W) Tj ET Q q 0 0 0 rg BT 428.41 729.75 Td (est) Tj ET Q q 0 0 0 rg BT 444.38 729.75 Td (s Condensed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 715.95 Td (Consolidated Balance Sheets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 197.05 715.95 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 270.19 715.95 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 292.54 715.95 Td (December31, 2017) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 382.92 715.95 Td ( \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 646.65 190.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.00 646.65 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 646.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 646.65 85.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 646.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 646.65 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 646.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 646.65 82.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 614.65 190.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.00 614.65 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 614.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 614.65 85.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 614.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 614.65 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 614.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 614.65 82.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 582.65 190.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.00 582.65 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 582.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 582.65 85.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 582.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 582.65 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 582.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 582.65 82.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 661.65 m 312 661.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 661.65 m 316 661.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 661.65 m 401 661.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 661.65 m 477 661.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 661.65 m 481 661.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 661.65 m 563 661.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 646.65 m 312 646.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 661.65 m 401 661.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 646.65 m 401 646.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 646.65 m 477 646.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 661.65 m 563 661.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 646.65 m 563 646.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 582.65 m 312 582.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 582.65 m 401 582.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 582.65 m 477 582.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 582.65 m 563 582.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 582.65 m 312 582.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 567.65 m 312 567.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 565.65 m 312 565.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 582.65 m 401 582.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 567.65 m 401 567.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 565.65 m 401 565.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 582.65 m 477 582.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 567.65 m 477 567.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 565.65 m 477 565.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 582.65 m 563 582.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 567.65 m 563 567.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 565.65 m 563 565.65 l s BT /F2 10.50 Tf ET q 0 0 0 rg BT 285.20 681.44 Td (Mar) Tj ET Q q 0 0 0 rg BT 304.93 681.44 Td (ch 31, 2018) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 441.15 681.44 Td (December) Tj ET Q q 0 0 0 rg BT 486.53 681.44 Td ( 31, 2017) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 52.50 666.44 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 293.85 666.44 Td (Gain\(Loss\)) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 457.35 666.44 Td (Gain\(Loss\)) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 52.50 651.44 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 244.00 651.44 Td (PriceUp10%) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 320.05 651.44 Td (PriceDown10%) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 409.00 651.44 Td (PriceUp10%) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 483.55 651.44 Td (PriceDown10%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 635.68 Td (Mark-to-market changes reported in:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 308.50 635.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 397.50 635.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.50 635.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 635.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 619.68 Td (Regulatory asset \(liability\) or OCI \(a\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 308.50 619.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 397.50 619.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.50 619.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 619.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 603.68 Td (Electricity) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 242.50 603.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 301.90 603.68 Td (3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 318.50 603.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.05 603.73 Td (\(2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 396.65 603.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 407.50 603.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 466.90 603.68 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.50 603.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 549.05 603.73 Td (\(1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 603.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 587.68 Td (Natural gas) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 296.15 587.68 Td (40) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 381.30 587.73 Td (\(40) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 396.65 587.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 461.15 587.68 Td (45) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 587.73 Td (\(45) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 587.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 571.68 Td (T) Tj ET Q q 0 0 0 rg BT 58.72 571.68 Td (otal) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 242.50 571.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 296.15 571.68 Td (43) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 318.50 571.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 381.30 571.73 Td (\(42) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 396.65 571.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 407.50 571.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 461.15 571.68 Td (46) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.50 571.68 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 571.73 Td (\(46) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 571.68 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 539.55 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 539.55 Td (These contracts are economic hedges of our forecasted purchases of natural gas and electricity) Tj ET Q q 0 0 0 rg BT 536.69 539.55 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 525.75 Td (The impact of these hypothetical price movements would substantially of) Tj ET Q q 0 0 0 rg BT 440.87 525.75 Td (fset the impact that these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 511.95 Td (same price movements would have on the physical exposures being hedged. ) Tj ET Q q 0 0 0 rg BT 459.38 511.95 Td (T) Tj ET Q q 0 0 0 rg BT 465.61 511.95 Td (o the extent the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 498.15 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 103.50 484.35 Td (or liability) Tj ET Q q 0 0 0 rg BT 150.98 484.35 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 456.75 Td (Cr) Tj ET Q q 0 0 0 rg BT 62.70 456.75 Td (edit Risk) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 429.15 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 429.15 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 49.50 415.35 Td (7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 55.25 415.35 Td ( for a discussion of our credit valuation adjustment policy) Tj ET Q q 0 0 0 rg BT 319.91 415.35 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 373.95 Td (Item 3. ) Tj ET Q q 0 0 0 rg BT 85.50 373.95 Td ( ) Tj ET Q q 0 0 0 rg BT 121.50 373.95 Td (QUANTIT) Tj ET Q q 0 0 0 rg BT 174.32 373.95 Td (A) Tj ET Q q 0 0 0 rg BT 181.78 373.95 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 212.14 373.95 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 284.45 373.95 Td (A) Tj ET Q q 0 0 0 rg BT 291.90 373.95 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 406.31 373.95 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 447.00 373.95 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 501.41 373.95 Td ( RISK) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 360.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 346.35 Td (See "Key Financial Drivers" and "Market and Credit Risks" in Item 2 above for a discussion of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 332.55 Td (quantitative and qualitative disclosures about market risks.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 318.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 304.95 Td (Item 4. ) Tj ET Q q 0 0 0 rg BT 85.50 304.95 Td ( ) Tj ET Q q 0 0 0 rg BT 121.50 304.95 Td ( CONTROLS ) Tj ET Q q 0 0 0 rg BT 191.16 304.95 Td (AND PROCEDURES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 291.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 277.35 Td (\(a\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.26 277.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.26 277.35 Td ( Disclosure Controls and Procedures) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 263.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 249.75 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 49.50 235.95 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 49.50 222.15 Td (submits under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 229.95 222.15 Td (Act of 1934, as amended \(the "Exchange ) Tj ET Q q 0 0 0 rg BT 420.50 222.15 Td (Act"\) \(15 U.S.C. 78a ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 520.06 222.15 Td (et seq) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.57 222.15 Td (.\), ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 208.35 Td (is recorded, processed, summarized and reported, within the time periods specified in the SEC) Tj ET Q q 0 0 0 rg BT 486.39 208.35 Td (s rulesand ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 194.55 Td (forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 180.75 Td (ensure that information required to be disclosed by a company in the reports that it files or submits under the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 166.95 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 97.08 166.95 Td (Act is accumulated and communicated to a company) Tj ET Q q 0 0 0 rg BT 343.29 166.95 Td (s management, including its principal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 153.15 Td (executive and principal financial of) Tj ET Q q 0 0 0 rg BT 212.14 153.15 Td (ficers, or persons performing similar functions, as appropriate to allow ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 139.35 Td (timely decisions regarding required disclosure.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 125.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 111.75 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 111.75 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 111.75 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 111.75 Td (s management, with the participation of Pinnacle ) Tj ET Q q 0 0 0 rg BT 381.49 111.75 Td (W) Tj ET Q q 0 0 0 rg BT 391.42 111.75 Td (est) Tj ET Q q 0 0 0 rg BT 407.39 111.75 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 503.95 111.75 Td (ficer and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 97.95 Td (Chief Financial Of) Tj ET Q q 0 0 0 rg BT 135.52 97.95 Td (ficer) Tj ET Q q 0 0 0 rg BT 156.13 97.95 Td (, have evaluated the ef) Tj ET Q q 0 0 0 rg BT 259.04 97.95 Td (fectiveness of Pinnacle ) Tj ET Q q 0 0 0 rg BT 367.73 97.95 Td (W) Tj ET Q q 0 0 0 rg BT 377.66 97.95 Td (est) Tj ET Q q 0 0 0 rg BT 393.64 97.95 Td (s disclosure controls and procedures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 84.15 Td (as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 74.41 84.15 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 147.55 84.15 Td (. Based on that evaluation, Pinnacle ) Tj ET Q q 0 0 0 rg BT 317.57 84.15 Td (W) Tj ET Q q 0 0 0 rg BT 327.50 84.15 Td (est) Tj ET Q q 0 0 0 rg BT 343.47 84.15 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 440.03 84.15 Td (ficer and Chief Financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 70.35 Td (Of) Tj ET Q q 0 0 0 rg BT 61.43 70.35 Td (ficer have concluded that, as of that date, Pinnacle ) Tj ET Q q 0 0 0 rg BT 295.28 70.35 Td (W) Tj ET Q q 0 0 0 rg BT 305.21 70.35 Td (est) Tj ET Q q 0 0 0 rg BT 321.18 70.35 Td (s disclosure controls and procedures were ef) Tj ET Q q 0 0 0 rg BT 524.71 70.35 Td (fective.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 56.55 Td () Tj ET Q endstream endobj 181 0 obj <> endobj 182 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (88) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 743.55 Td (APS) Tj ET Q q 0 0 0 rg BT 109.79 743.55 Td (s management, with the participation of ) Tj ET Q q 0 0 0 rg BT 294.71 743.55 Td (APS) Tj ET Q q 0 0 0 rg BT 319.00 743.55 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 415.56 743.55 Td (ficer and Chief Financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 729.75 Td (Of) Tj ET Q q 0 0 0 rg BT 61.43 729.75 Td (ficer) Tj ET Q q 0 0 0 rg BT 82.03 729.75 Td (, has evaluated the ef) Tj ET Q q 0 0 0 rg BT 178.57 729.75 Td (fectiveness of ) Tj ET Q q 0 0 0 rg BT 244.35 729.75 Td (APS) Tj ET Q q 0 0 0 rg BT 268.65 729.75 Td (s disclosure controls and procedures as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.14 729.75 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 536.28 729.75 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 715.95 Td (Based on that evaluation, ) Tj ET Q q 0 0 0 rg BT 167.99 715.95 Td (APS) Tj ET Q q 0 0 0 rg BT 192.28 715.95 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 288.84 715.95 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 418.28 715.95 Td (ficer have concluded that, as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 702.15 Td (that date, ) Tj ET Q q 0 0 0 rg BT 93.89 702.15 Td (APS) Tj ET Q q 0 0 0 rg BT 118.18 702.15 Td (s disclosure controls and procedures were ef) Tj ET Q q 0 0 0 rg BT 321.71 702.15 Td (fective.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 688.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 674.55 Td (\(b\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.91 674.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.91 674.55 Td ( Changes in Internal Control Over Financial Reporting) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 660.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 646.95 Td (The term "internal control over financial reporting" \(defined in SEC Rule13a-15\(f\)\) refers to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 633.15 Td (process of a company that is designed to provide reasonable assurance regarding the reliability of financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 619.35 Td (reporting and the preparation of financial statements for external purposes in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 512.86 619.35 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 605.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 591.75 Td (No change in Pinnacle ) Tj ET Q q 0 0 0 rg BT 191.96 591.75 Td (W) Tj ET Q q 0 0 0 rg BT 201.89 591.75 Td (est) Tj ET Q q 0 0 0 rg BT 217.86 591.75 Td (s or ) Tj ET Q q 0 0 0 rg BT 237.03 591.75 Td (APS) Tj ET Q q 0 0 0 rg BT 261.32 591.75 Td (s internal control over financial reporting occurred during the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 577.95 Td (fiscal quarter ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 143.05 577.95 Td (March31, 2018) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 216.19 577.95 Td ( that materially af) Tj ET Q q 0 0 0 rg BT 297.41 577.95 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 506.04 577.95 Td (fect, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 564.15 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 564.15 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 564.15 Td (est) Tj ET Q q 0 0 0 rg BT 117.67 564.15 Td (s or ) Tj ET Q q 0 0 0 rg BT 136.84 564.15 Td (APS) Tj ET Q q 0 0 0 rg BT 161.14 564.15 Td (s internal control over financial reporting.) Tj ET Q endstream endobj 183 0 obj <> endobj 184 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (89) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 213.85 743.75 Td (P) Tj ET Q q 0 0 0 rg BT 220.02 743.75 Td (AR) Tj ET Q q 0 0 0 rg BT 236.23 743.75 Td (T) Tj ET Q q 0 0 0 rg BT 243.69 743.75 Td ( II -- OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 368.70 743.75 Td (TION ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 716.15 Td (Item 1. LEGAL) Tj ET Q q 0 0 0 rg BT 178.24 716.15 Td ( PROCEEDINGS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 702.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 688.55 Td (See "Business of ) Tj ET Q q 0 0 0 rg BT 165.27 688.55 Td (Arizona Public Service Company Environmental Matters" in Item 1 of the 2017 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 674.75 Td (Form10-K with regard to pending or threatened litigation and other disputes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 660.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 647.15 Td (See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 130.21 647.15 Td (4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 135.96 647.15 Td ( for ) Tj ET Q q 0 0 0 rg BT 154.48 647.15 Td (ACC and FERC-related matters.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 633.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 619.55 Td (See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 130.21 619.55 Td (8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 135.96 619.55 Td ( for information regarding environmental matters and Superfund-related matters.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 591.95 Td (Item 1A. RISK F) Tj ET Q q 0 0 0 rg BT 175.46 591.95 Td (ACT) Tj ET Q q 0 0 0 rg BT 199.54 591.95 Td (ORS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 578.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 564.35 Td (In addition to the other information set forth in this report, you should carefully consider the factors ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 550.55 Td (discussed in PartI,Item 1A) Tj ET Q q 0 0 0 rg BT 176.63 550.55 Td ( Risk Factors in the 2017 Form10-K, which could materially af) Tj ET Q q 0 0 0 rg BT 484.00 550.55 Td (fect the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 536.75 Td (business, financial condition, cash flows or future results of Pinnacle ) Tj ET Q q 0 0 0 rg BT 368.67 536.75 Td (W) Tj ET Q q 0 0 0 rg BT 378.61 536.75 Td (est and ) Tj ET Q q 0 0 0 rg BT 413.10 536.75 Td (APS. ) Tj ET Q q 0 0 0 rg BT 442.62 536.75 Td (The risks described in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 522.95 Td (2017 Form10-K are not the only risks facing Pinnacle ) Tj ET Q q 0 0 0 rg BT 302.89 522.95 Td (W) Tj ET Q q 0 0 0 rg BT 312.82 522.95 Td (est and ) Tj ET Q q 0 0 0 rg BT 347.32 522.95 Td (APS. ) Tj ET Q q 0 0 0 rg BT 376.40 522.95 Td (Additional risks and uncertainties not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 509.15 Td (currently known to us or that we currently deem to be immaterial also may materially adversely af) Tj ET Q q 0 0 0 rg BT 501.48 509.15 Td (fect the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 495.35 Td (business, financial condition, cash flows and/or operating results of Pinnacle ) Tj ET Q q 0 0 0 rg BT 404.44 495.35 Td (W) Tj ET Q q 0 0 0 rg BT 414.38 495.35 Td (est and ) Tj ET Q q 0 0 0 rg BT 448.87 495.35 Td (APS.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 467.75 Td (Item 5. OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 229.76 467.75 Td (TION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 440.15 Td (None. ) Tj ET Q endstream endobj 185 0 obj <> endobj 186 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 49.50 743.75 Td (Item 6.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 83.99 743.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.74 743.75 Td ( EXHIBITS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 729.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 716.15 Td (\(a\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.26 716.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.01 716.15 Td ( Exhibits ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 59.90 697.73 Td (ExhibitNo.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 119.00 696.37 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 148.75 697.73 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 223.00 696.37 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.20 697.73 Td (Description) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.00 675.83 Td (12.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 673.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 675.83 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.31 675.83 Td (W) Tj ET Q q 0 0 0 rg BT 192.05 675.83 Td (est) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 673.41 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 674.230078125 m 404.923828125 674.230078125 l s q 0 0 1 rg BT 235.50 675.83 Td (Ratio of Earnings to Fixed Char) Tj ET Q q 0 0 1 rg BT 388.93 675.83 Td (ges) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.00 652.83 Td (12.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 650.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 652.83 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 650.41 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 651.230078125 m 404.923828125 651.230078125 l s q 0 0 1 rg BT 235.50 652.83 Td (Ratio of Earnings to Fixed Char) Tj ET Q q 0 0 1 rg BT 388.93 652.83 Td (ges) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.00 629.83 Td (12.3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 615.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 629.83 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.31 629.83 Td (W) Tj ET Q q 0 0 0 rg BT 192.05 629.83 Td (est) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 615.41 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 628.230078125 m 559.21875 628.230078125 l s q 0 0 1 rg BT 235.50 629.83 Td (Ratio of Earnings to Combined Fixed Char) Tj ET Q q 0 0 1 rg BT 441.93 629.83 Td (ges and Preferred Stock ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 616.230078125 m 349.810546875 616.230078125 l s q 0 0 1 rg BT 235.50 617.83 Td (Dividend Requirements) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.00 594.83 Td (31.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 568.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 594.83 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.31 594.83 Td (W) Tj ET Q q 0 0 0 rg BT 192.05 594.83 Td (est) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 568.41 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 593.230078125 m 557.35546875 593.230078125 l s q 0 0 1 rg BT 235.50 594.83 Td (Certificate of Donald E. Brandt, Chief Executive Of) Tj ET Q q 0 0 1 rg BT 485.53 594.83 Td (ficer) Tj ET Q q 0 0 1 rg BT 507.03 594.83 Td (, pursuant ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 581.230078125 m 550.728515625 581.230078125 l s q 0 0 1 rg BT 235.50 582.83 Td (to Rule13a-14\(a\)and Rule15d-14\(a\)of the Securities Exchange ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 569.230078125 m 315.134765625 569.230078125 l s q 0 0 1 rg BT 235.50 570.83 Td (Act, as amended) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.00 547.83 Td (31.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 521.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 547.83 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.31 547.83 Td (W) Tj ET Q q 0 0 0 rg BT 192.05 547.83 Td (est) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 521.41 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 546.230078125 m 537.45703125 546.230078125 l s q 0 0 1 rg BT 235.50 547.83 Td (Certificate of James R. Hatfield, Executive ) Tj ET Q q 0 0 1 rg BT 444.54 547.83 Td (V) Tj ET Q q 0 0 1 rg BT 452.48 547.83 Td (ice President and ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 534.230078125 m 505.048828125 534.230078125 l s q 0 0 1 rg BT 235.50 535.83 Td (Chief Financial Of) Tj ET Q q 0 0 1 rg BT 325.26 535.83 Td (ficer) Tj ET Q q 0 0 1 rg BT 346.76 535.83 Td (, pursuant to Rule13a-14\(a\)and ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 522.230078125 m 521.736328125 522.230078125 l s q 0 0 1 rg BT 235.50 523.83 Td (Rule15d-14\(a\)of the Securities Exchange ) Tj ET Q q 0 0 1 rg BT 442.10 523.83 Td (Act, as amended) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.00 500.83 Td (31.3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 474.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 500.83 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 474.41 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 499.230078125 m 557.35546875 499.230078125 l s q 0 0 1 rg BT 235.50 500.83 Td (Certificate of Donald E. Brandt, Chief Executive Of) Tj ET Q q 0 0 1 rg BT 485.53 500.83 Td (ficer) Tj ET Q q 0 0 1 rg BT 507.03 500.83 Td (, pursuant ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 487.230078125 m 550.728515625 487.230078125 l s q 0 0 1 rg BT 235.50 488.83 Td (to Rule13a-14\(a\)and Rule15d-14\(a\)of the Securities Exchange ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 475.230078125 m 315.134765625 475.230078125 l s q 0 0 1 rg BT 235.50 476.83 Td (Act, as amended) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.00 453.83 Td (31.4) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 427.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 453.83 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 427.41 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 452.230078125 m 537.45703125 452.230078125 l s q 0 0 1 rg BT 235.50 453.83 Td (Certificate of James R. Hatfield, Executive ) Tj ET Q q 0 0 1 rg BT 444.54 453.83 Td (V) Tj ET Q q 0 0 1 rg BT 452.48 453.83 Td (ice President and ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 440.230078125 m 505.048828125 440.230078125 l s q 0 0 1 rg BT 235.50 441.83 Td (Chief Financial Of) Tj ET Q q 0 0 1 rg BT 325.26 441.83 Td (ficer) Tj ET Q q 0 0 1 rg BT 346.76 441.83 Td (, pursuant to Rule13a-14\(a\)and ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 428.230078125 m 521.736328125 428.230078125 l s q 0 0 1 rg BT 235.50 429.83 Td (Rule15d-14\(a\)of the Securities Exchange ) Tj ET Q q 0 0 1 rg BT 442.10 429.83 Td (Act, as amended) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 66.00 406.83 Td (32.1*) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 380.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 406.83 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.31 406.83 Td (W) Tj ET Q q 0 0 0 rg BT 192.05 406.83 Td (est) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 380.41 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 405.230078125 m 527.841796875 405.230078125 l s q 0 0 1 rg BT 235.50 406.83 Td (Certification of Chief Executive Of) Tj ET Q q 0 0 1 rg BT 405.22 406.83 Td (ficer and Chief Financial ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 393.230078125 m 549.75 393.230078125 l s q 0 0 1 rg BT 235.50 394.83 Td (Of) Tj ET Q q 0 0 1 rg BT 247.95 394.83 Td (ficer) Tj ET Q q 0 0 1 rg BT 269.44 394.83 Td (, pursuant to 18 U.S.C. Section1350, as adopted pursuant ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 381.230078125 m 474.78515625 381.230078125 l s q 0 0 1 rg BT 235.50 382.83 Td (to Section906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 417.46 382.83 Td (Act of 2002) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 66.00 359.83 Td (32.2*) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 333.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 359.83 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 333.41 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 358.230078125 m 527.841796875 358.230078125 l s q 0 0 1 rg BT 235.50 359.83 Td (Certification of Chief Executive Of) Tj ET Q q 0 0 1 rg BT 405.22 359.83 Td (ficer and Chief Financial ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 346.230078125 m 549.75 346.230078125 l s q 0 0 1 rg BT 235.50 347.83 Td (Of) Tj ET Q q 0 0 1 rg BT 247.95 347.83 Td (ficer) Tj ET Q q 0 0 1 rg BT 269.44 347.83 Td (, pursuant to 18 U.S.C. Section1350, as adopted pursuant ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 334.230078125 m 474.78515625 334.230078125 l s q 0 0 1 rg BT 235.50 335.83 Td (to Section906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 417.46 335.83 Td (Act of 2002) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 59.30 312.83 Td (101.INS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 286.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 312.83 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.20 312.83 Td (W) Tj ET Q q 0 0 0 rg BT 191.57 312.83 Td (est) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 300.83 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 286.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 312.83 Td (XBRL) Tj ET Q q 0 0 0 rg BT 267.28 312.83 Td ( Instance Document) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 57.30 265.83 Td (101.SCH) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 239.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 265.83 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.20 265.83 Td (W) Tj ET Q q 0 0 0 rg BT 191.57 265.83 Td (est) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 253.83 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 239.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 265.83 Td (XBRL) Tj ET Q q 0 0 0 rg BT 267.28 265.83 Td ( ) Tj ET Q q 0 0 0 rg BT 269.95 265.83 Td (T) Tj ET Q q 0 0 0 rg BT 276.75 265.83 Td (axonomy Extension Schema Document) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 57.20 218.83 Td (101.CAL) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 192.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 218.83 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.20 218.83 Td (W) Tj ET Q q 0 0 0 rg BT 191.57 218.83 Td (est) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 206.83 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 192.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 218.83 Td (XBRL) Tj ET Q q 0 0 0 rg BT 267.06 218.83 Td ( ) Tj ET Q q 0 0 0 rg BT 269.84 218.83 Td (T) Tj ET Q q 0 0 0 rg BT 276.33 218.83 Td (axonomy Extension Calculation Linkbase Document) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 57.00 161.83 Td (101.LAB) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 147.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 161.78 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.20 161.78 Td (W) Tj ET Q q 0 0 0 rg BT 191.57 161.78 Td (est) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 149.78 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 147.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 161.83 Td (XBRL) Tj ET Q q 0 0 0 rg BT 267.28 161.83 Td ( ) Tj ET Q q 0 0 0 rg BT 269.95 161.83 Td (T) Tj ET Q q 0 0 0 rg BT 276.75 161.83 Td (axonomy Extension Label Linkbase Document) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 57.95 126.83 Td (101.PRE) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 112.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 126.78 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.20 126.78 Td (W) Tj ET Q q 0 0 0 rg BT 191.57 126.78 Td (est) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 114.78 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 112.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 126.83 Td (XBRL) Tj ET Q q 0 0 0 rg BT 267.28 126.83 Td ( ) Tj ET Q q 0 0 0 rg BT 269.95 126.83 Td (T) Tj ET Q q 0 0 0 rg BT 276.75 126.83 Td (axonomy Extension Presentation Linkbase Document) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 57.65 91.83 Td (101.DEF) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 77.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 91.78 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.20 91.78 Td (W) Tj ET Q q 0 0 0 rg BT 191.57 91.78 Td (est) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 79.78 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 77.41 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 91.83 Td (XBRL) Tj ET Q q 0 0 0 rg BT 267.06 91.83 Td ( ) Tj ET Q q 0 0 0 rg BT 269.84 91.83 Td (T) Tj ET Q q 0 0 0 rg BT 276.33 91.83 Td (axonomy Definition Linkbase Document) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 61.35 Td (________________________________) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 47.55 Td (*Furnished herewith as an Exhibit.) Tj ET Q endstream endobj 187 0 obj <> endobj 188 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 85.50 743.55 Td (In addition, Pinnacle ) Tj ET Q q 0 0 0 rg BT 183.66 743.55 Td (W) Tj ET Q q 0 0 0 rg BT 193.60 743.55 Td (est and ) Tj ET Q q 0 0 0 rg BT 228.09 743.55 Td (APS hereby incorporate the following Exhibits pursuant to Exchange ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 729.75 Td (Act Rule12b-32 and Regulation 229.10\(d\)by reference to the filings set forth below:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 715.95 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 685.45 m 104 685.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 117 685.45 m 182 685.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195 685.45 m 325 685.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 685.45 m 481 685.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 685.45 m 555 685.45 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 689.68 Td (Exhibit No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 110.00 688.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 126.75 689.68 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 188.00 688.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 239.70 689.68 Td (Description) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 331.00 688.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.50 689.68 Td (Pr) Tj ET Q q 0 0 0 rg BT 366.87 689.68 Td (eviouslyFiledasExhibit\(1\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 487.00 688.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.30 689.68 Td (Date Filed) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 52.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 106.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 149.00 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 184.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 197.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 327.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 483.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 496.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 84.50 660.63 Td (3.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 106.50 622.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 128.30 660.63 Td (Pinnacle) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.15 648.63 Td (W) Tj ET Q q 0 0 0 rg BT 148.00 648.63 Td (est) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 184.50 622.21 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 659.030078125 m 305.95703125 659.030078125 l s q 0 0 1 rg BT 197.50 660.63 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 241.60 660.63 Td (W) Tj ET Q q 0 0 1 rg BT 251.97 660.63 Td (est Capital ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 647.030078125 m 300.490234375 647.030078125 l s q 0 0 1 rg BT 197.50 648.63 Td (Corporation Bylaws, ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 635.030078125 m 316.123046875 635.030078125 l s q 0 0 1 rg BT 197.50 636.63 Td (amended as of February ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 623.030078125 m 239.5 623.030078125 l s q 0 0 1 rg BT 197.50 624.63 Td (22, 2017) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 1.00 Tf ET q 0 0 0 rg BT 327.50 622.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 660.63 Td (3.1 to Pinnacle ) Tj ET Q q 0 0 0 rg BT 415.05 660.63 Td (W) Tj ET Q q 0 0 0 rg BT 425.78 660.63 Td (est/APS) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 648.63 Td (February 28, 2017 Form8-) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 636.63 Td (K Report, File Nos. 1-8962) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 624.63 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 622.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 502.80 660.63 Td (2/28/2017) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 84.50 598.63 Td (3.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 106.50 560.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 128.30 598.63 Td (Pinnacle) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.15 586.63 Td (W) Tj ET Q q 0 0 0 rg BT 148.00 586.63 Td (est) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 184.50 560.21 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 597.030078125 m 322.791015625 597.030078125 l s q 0 0 1 rg BT 197.50 598.63 Td (Articles of Incorporation, ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 585.030078125 m 306.80078125 585.030078125 l s q 0 0 1 rg BT 197.50 586.63 Td (restated as of May21, ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 573.030078125 m 221.5 573.030078125 l s q 0 0 1 rg BT 197.50 574.63 Td (2008) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 1.00 Tf ET q 0 0 0 rg BT 327.50 560.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 598.63 Td (3.1 to Pinnacle ) Tj ET Q q 0 0 0 rg BT 415.05 598.63 Td (W) Tj ET Q q 0 0 0 rg BT 425.78 598.63 Td (est/APS) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 586.63 Td (June30, 2008 Form10-Q) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 574.63 Td (Report, File Nos. 1-8962) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 562.63 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 560.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 508.80 598.63 Td (8/7/2008) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 84.50 536.63 Td (3.3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 106.50 486.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.95 536.63 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 184.50 486.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 197.50 536.63 Td (Articles of Incorporation,) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 197.50 524.63 Td (restated as of May25,) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 197.50 512.63 Td (1988) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 327.50 486.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 536.63 Td (4.2 to ) Tj ET Q q 0 0 0 rg BT 370.50 536.63 Td (APS) Tj ET Q q 0 0 0 rg BT 395.85 536.63 Td (s FormS-3) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 524.63 Td (Registration Nos. 33-33910) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 512.63 Td (and 33-55248 by means of) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 500.63 Td (September24, 1993 Form) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 488.63 Td (8-K Report, File No.1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 486.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 502.80 536.63 Td (9/29/1993) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 84.50 462.63 Td (3.4) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 106.50 412.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.95 462.63 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 184.50 412.21 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 461.030078125 m 289.814453125 461.030078125 l s q 0 0 1 rg BT 197.50 462.63 Td (Amendment to the ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 449.030078125 m 319.791015625 449.030078125 l s q 0 0 1 rg BT 197.50 450.63 Td (Articles of Incorporation ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 437.030078125 m 324.1328125 437.030078125 l s q 0 0 1 rg BT 197.50 438.63 Td (of ) Tj ET Q q 0 0 1 rg BT 209.83 438.63 Td (Arizona Public Service ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 425.030078125 m 295.697265625 425.030078125 l s q 0 0 1 rg BT 197.50 426.63 Td (Company) Tj ET Q q 0 0 1 rg BT 243.38 426.63 Td (, amended ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 413.030078125 m 264.49609375 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Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 387.030078125 m 311.798828125 387.030078125 l s q 0 0 1 rg BT 197.50 388.63 Td (Arizona Public Service ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 375.030078125 m 289.1640625 375.030078125 l s q 0 0 1 rg BT 197.50 376.63 Td (Company Bylaws, ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 363.030078125 m 269.8046875 363.030078125 l s q 0 0 1 rg BT 197.50 364.63 Td (amended as of ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 351.030078125 m 291.80078125 351.030078125 l s q 0 0 1 rg BT 197.50 352.63 Td (December16, 2008) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 1.00 Tf ET q 0 0 0 rg BT 327.50 350.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 388.63 Td (3.4 to Pinnacle ) Tj ET Q q 0 0 0 rg BT 414.94 388.63 Td (W) Tj ET Q q 0 0 0 rg BT 425.30 388.63 Td (est/APS) Tj ET Q BT 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