Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of property, plant and equipment

Pinnacle West’s property, plant and equipment included in the December 31, 2019 and 2018 Consolidated Balance Sheets is composed of the following (dollars in thousands):



Property, Plant and Equipment:	2019			2018
Generation	$	8,916,872		$	8,285,514
Transmission	3,095,907			3,033,579
Distribution	6,690,697			6,378,345
General plant	1,132,816			1,039,190
Plant in service and held for future use	19,836,292			18,736,628
Accumulated depreciation and amortization	(6,637,857		)	(6,366,014		)
Net	13,198,435			12,370,614
Construction work in progress	808,133			1,170,062
Palo Verde sale leaseback, net of accumulated depreciation	101,906			105,775
Intangible assets, net of accumulated amortization	290,564			262,902
Nuclear fuel, net of accumulated amortization	123,500			120,217
Total property, plant and equipment	$	14,522,538		$	14,029,570

Summary of supplemental cash flow information

The following table summarizes supplemental Pinnacle West cash flow information for each of the last three years (dollars in thousands):



	Year ended December 31,
	2019		2018		2017
Cash paid during the period for:
Income taxes, net of refunds	$	12,535	$	21,173	$	2,186
Interest, net of amounts capitalized	218,664		208,479		189,288
Significant non-cash investing and financing activities:
Accrued capital expenditures	$	141,297	$	132,620	$	130,404
Dividends declared but not paid	87,982		82,675		77,667
Right-of-use operating lease assets obtained in exchange for operating lease liabilities	11,262		—		—
Sale of 4CA 7% interest in Four Corners	—		68,907		—

The following table summarizes supplemental APS cash flow information for each of the last three years (dollars in thousands):



	Year ended December 31,
	2019			2018		2017
Cash paid (received) during the period for:
Income taxes, net of refunds	$	(15,042	)	$	77,942	$	(14,098	)
Interest, net of amounts capitalized	204,261			196,419		184,210
Significant non-cash investing and financing activities:
Accrued capital expenditures	$	141,297		$	132,620	$	130,057
Dividends declared but not paid	88,000			82,700		77,700
Right-of-use operating lease assets obtained in exchange for operating lease liabilities	11,262			—		—