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Regulatory Matters (Tables) | 9 Months Ended
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Sep. 30, 2015
Regulated Operations [Abstract] |
Schedule of changes in the deferred fuel and purchased power regulatory asset | The following table shows the changes in the deferred fuel and purchased power regulatory asset (liability) for 2015 and 2014 (dollars in millions):
| Nine Months Ended September 30,
| 2015 |  | 2014
Beginning balance | $ | 7 |  |  | $ | 21 |
Deferred fuel and purchased power costs — current period | — |  |  | 27 |
Amounts charged to customers | (19 | ) |  | (32 | )
Ending balance | $ | (12 | ) |  | $ | 16 |
Schedule of regulatory assets | The detail of regulatory assets is as follows (dollars in millions):
| Remaining Amortization Period |  | September 30, 2015 |  | December 31, 2014
|  | Current |  | Non-Current |  | Current |  | Non-Current
Pension benefits | (a) |  | $ | — |  |  | $ | 498 |  |  | $ | — |  |  | $ | 485 |
Income taxes — allowance for funds used during construction ("AFUDC") equity | 2044 |  | 5 |  |  | 132 |  |  | 5 |  |  | 118 |
Deferred fuel and purchased power — mark-to-market (Note 7) | 2018 |  | 63 |  |  | 73 |  |  | 51 |  |  | 46 |
Transmission vegetation management | 2016 |  | 7 |  |  | — |  |  | 9 |  |  | 5 |
Coal reclamation | 2026 |  | — |  |  | 6 |  |  | — |  |  | 7 |
Palo Verde VIEs (Note 6) | 2046 |  | — |  |  | 22 |  |  | — |  |  | 35 |
Deferred compensation | 2036 |  | — |  |  | 36 |  |  | — |  |  | 34 |
Deferred fuel and purchased power (b) (c) | 2015 |  | — |  |  | — |  |  | 7 |  |  | — |
Tax expense of Medicare subsidy | 2024 |  | 2 |  |  | 12 |  |  | 2 |  |  | 14 |
Loss on reacquired debt | 2034 |  | 1 |  |  | 15 |  |  | 1 |  |  | 16 |
Income taxes — investment tax credit basis adjustment | 2044 |  | 2 |  |  | 49 |  |  | 2 |  |  | 46 |
Four Corners cost deferral | 2024 |  | 7 |  |  | 65 |  |  | 7 |  |  | 70 |
Lost fixed cost recovery (b) | 2016 |  | 43 |  |  | — |  |  | 38 |  |  | — |
Retired power plant costs | 2033 |  | 10 |  |  | 130 |  |  | 10 |  |  | 136 |
Deferred property taxes | (d) |  | — |  |  | 46 |  |  | — |  |  | 30 |
Other | Various |  | — |  |  | 18 |  |  | 6 |  |  | 12 |
Total regulatory assets (e) |  |  | $ | 140 |  |  | $ | 1,102 |  |  | $ | 138 |  |  | $ | 1,054 |
(a) | This asset represents the future recovery of pension and other postretirement benefit obligations through retail rates. If these costs are disallowed by the ACC, this regulatory asset would be charged to Other Comprehensive Income ("OCI") and result in lower future revenues. See Note 4 for further discussion.
(b) | See "Cost Recovery Mechanisms" discussion above.
(c) | Subject to a carrying charge.
(d) | Per the provision of the 2012 Settlement Agreement.
(e) | There are no regulatory assets for which the ACC has allowed recovery of costs, but not allowed a return by exclusion from rate base. FERC rates are set using a formula rate as described in "Transmission Rates, Transmission Cost Adjustor and Other Transmission Matters.
Schedule of regulatory liabilities | The detail of regulatory liabilities is as follows (dollars in millions):
| Remaining Amortization Period |  | September 30, 2015 |  | December 31, 2014
|  | Current |  | Non-Current |  | Current |  | Non-Current
Removal costs | (a) |  | $ | 41 |  |  | $ | 244 |  |  | $ | 31 |  |  | $ | 273 |
Asset retirement obligations | 2045 |  | — |  |  | 259 |  |  | — |  |  | 296 |
Renewable energy standard (b) | 2017 |  | 28 |  |  | 21 |  |  | 25 |  |  | 23 |
Income taxes — change in rates | 2043 |  | 1 |  |  | 70 |  |  | — |  |  | 72 |
Spent nuclear fuel | 2047 |  | 3 |  |  | 68 |  |  | 5 |  |  | 66 |
Deferred gains on utility property | 2019 |  | 2 |  |  | 7 |  |  | 2 |  |  | 8 |
Income taxes — deferred investment tax credit | 2043 |  | 3 |  |  | 98 |  |  | 4 |  |  | 93 |
Deferred fuel and purchased power (b) (c) | 2016 |  | 12 |  |  | — |  |  | — |  |  | — |
Demand side management (b) | 2017 |  | 17 |  |  | 20 |  |  | 31 |  |  | — |
Other postretirement benefits | (d) |  | 33 |  |  | 181 |  |  | 32 |  |  | 199 |
Other | Various |  | 8 |  |  | 28 |  |  | 1 |  |  | 21 |
Total regulatory liabilities |  |  | $ | 148 |  |  | $ | 996 |  |  | $ | 131 |  |  | $ | 1,051 |
(a) | In accordance with regulatory accounting guidance, APS accrues for removal costs for its regulated assets, even if there is no legal obligation for removal.
(b) | See "Cost Recovery Mechanisms" discussion above.
(c) | Subject to a carrying charge.
(d) | See Note 4.

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- Definition Tabular disclosure of assets that are created when regulatory agencies permit public utilities to defer certain costs included in rate-setting to the balance sheet. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 980 -SubTopic 340 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6499975&loc=d3e44264-110382 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 980 -SubTopic 715 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6501251&loc=d3e52485-110419 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 980 -SubTopic 340 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6499975&loc=d3e44250-110382 + Details
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- Definition Tabular disclosure of regulatory liabilities. Detailed information about liabilities that result from rate actions of a regulator. Rate actions of a regulator can impose a liability on a regulated enterprise resulting in a regulatory liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 980 -SubTopic 405 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6500807&loc=d3e48068-110394 + Details
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