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v3.19.1

Regulatory Matters (Tables) | 3 Months Ended
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Mar. 31, 2019
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 2019 and 2018 (dollars in thousands):
| Three Months Ended March 31,
| 2019 |  | 2018
Beginning balance | $ | 37,164 |  |  | $ | 75,637 |
Deferred fuel and purchased power costs — current period | (16,709 | ) |  | 18,950 |
Amounts charged to customers | (12,872 | ) |  | (20,002 | )
Ending balance | $ | 7,583 |  |  | $ | 74,585 |
Schedule of regulatory assets | The detail of regulatory assets is as follows (dollars in thousands):
| Amortization Through |  | March 31, 2019 |  | December 31, 2018
|  | Current |  | Non-Current |  | Current |  | Non-Current
Pension | (a) |  | $ | — |  |  | $ | 723,307 |  |  | $ | — |  |  | $ | 733,351 |
Retired power plant costs | 2033 |  | 28,182 |  |  | 160,167 |  |  | 28,182 |  |  | 167,164 |
Income taxes — allowance for funds used during construction ("AFUDC") equity | 2049 |  | 6,457 |  |  | 151,541 |  |  | 6,457 |  |  | 151,467 |
Deferred fuel and purchased power — mark-to-market (Note 7) | 2023 |  | 29,340 |  |  | 14,360 |  |  | 31,728 |  |  | 23,768 |
Deferred fuel and purchased power (b) (c) | 2020 |  | 7,583 |  |  | — |  |  | 37,164 |  |  | — |
Four Corners cost deferral | 2024 |  | 8,077 |  |  | 38,209 |  |  | 8,077 |  |  | 40,228 |
Income taxes — investment tax credit basis adjustment | 2047 |  | 1,079 |  |  | 25,475 |  |  | 1,079 |  |  | 25,522 |
Lost fixed cost recovery (b) | 2020 |  | 29,698 |  |  | — |  |  | 32,435 |  |  | — |
Palo Verde VIEs (Note 6) | 2046 |  | — |  |  | 20,170 |  |  | — |  |  | 20,015 |
Deferred compensation | 2036 |  | — |  |  | 37,581 |  |  | — |  |  | 36,523 |
Deferred property taxes | 2027 |  | 8,569 |  |  | 64,214 |  |  | 8,569 |  |  | 66,356 |
Loss on reacquired debt | 2038 |  | 1,637 |  |  | 13,259 |  |  | 1,637 |  |  | 13,668 |
Tax expense of Medicare subsidy | 2024 |  | 1,235 |  |  | 6,122 |  |  | 1,235 |  |  | 6,176 |
TCA balancing account (b) | 2020 |  | 306 |  |  | — |  |  | 3,860 |  |  | 772 |
AG-1 deferral | 2022 |  | 2,654 |  |  | 5,155 |  |  | 2,654 |  |  | 5,819 |
Mead-Phoenix transmission line CIAC | 2050 |  | 332 |  |  | 9,961 |  |  | 332 |  |  | 10,044 |
Coal reclamation | 2026 |  | 1,546 |  |  | 17,392 |  |  | 1,546 |  |  | 15,607 |
SCR deferral | N/A |  | — |  |  | 30,581 |  |  | — |  |  | 23,276 |
Tax expense adjuster mechanism (c) | 2019 |  | 5,451 |  |  | — |  |  | — |  |  | — |
Other | Various |  | 3,079 |  |  | 4,013 |  |  | 1,947 |  |  | 3,185 |
Total regulatory assets (d) |  |  | $ | 135,225 |  |  | $ | 1,321,507 |  |  | $ | 166,902 |  |  | $ | 1,342,941 |
(a) | This asset represents the future recovery of pension 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.
(b) | See "Cost Recovery Mechanisms" discussion above.
(c) | Subject to a carrying charge.
(d) 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 thousands):
| Amortization Through |  | March 31, 2019 |  | December 31, 2018
|  | Current |  | Non-Current |  | Current |  | Non-Current
Excess deferred income taxes - ACC - Tax Cuts and Jobs Act | (a) |  | $ | 91,401 |  |  | $ | 1,178,216 |  |  | $ | — |  |  | $ | 1,272,709 |
Excess deferred income taxes - FERC - Tax Cuts and Jobs Act | 2058 |  | 6,302 |  |  | 243,418 |  |  | 6,302 |  |  | 243,691 |
Asset retirement obligations | 2057 |  | — |  |  | 337,844 |  |  | — |  |  | 278,585 |
Removal costs | (b) |  | 50,701 |  |  | 156,578 |  |  | 39,866 |  |  | 177,533 |
Other postretirement benefits | (c) |  | 37,864 |  |  | 116,478 |  |  | 37,864 |  |  | 125,903 |
Income taxes — deferred investment tax credit | 2047 |  | 2,164 |  |  | 51,027 |  |  | 2,164 |  |  | 51,120 |
Income taxes — change in rates | 2048 |  | 2,764 |  |  | 69,954 |  |  | 2,769 |  |  | 70,069 |
Spent nuclear fuel | 2027 |  | 7,190 |  |  | 54,866 |  |  | 6,503 |  |  | 57,002 |
Renewable energy standard (a) | 2020 |  | 47,943 |  |  | — |  |  | 44,966 |  |  | 20 |
Demand side management (a) | 2020 |  | 1,581 |  |  | 24,146 |  |  | 14,604 |  |  | 4,123 |
Sundance maintenance | 2030 |  | 6,657 |  |  | 11,637 |  |  | 1,278 |  |  | 17,228 |
Deferred gains on utility property | 2022 |  | 3,923 |  |  | 5,975 |  |  | 4,423 |  |  | 6,581 |
Four Corners coal reclamation | 2038 |  | 1,858 |  |  | 17,690 |  |  | 1,858 |  |  | 17,871 |
Tax expense adjustor mechanism (a) | 2020 |  | 14 |  |  | — |  |  | 3,237 |  |  | — |
Other | Various |  | 42 |  |  | 4,253 |  |  | 42 |  |  | 3,541 |
Total regulatory liabilities |  |  | $ | 260,404 |  |  | $ | 2,272,082 |  |  | $ | 165,876 |  |  | $ | 2,325,976 |
(a) | See “Cost Recovery Mechanisms” discussion above.
(b) | In accordance with regulatory accounting guidance, APS accrues removal costs for its regulated assets, even if there is no legal obligation for removal.
(c) See Note 5.

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