S | December 31, 2018 | December 31, 2017 | |||||||||||||||
Amortization Through | Current | Non-Current | Current | Non-Current | |||||||||||||
Pension | (a) | $ | — | $ | 733,351 | $ | — | $ | 576,188 | ||||||||
Retired power plant costs | 2033 | 28,182 | 167,164 | 27,402 | 188,843 | ||||||||||||
Income taxes - AFUDC equity | 2048 | 6,457 | 151,467 | 3,828 | 142,852 | ||||||||||||
Deferred fuel and purchased power — mark-to-market (Note 16) | 2023 | 31,728 | 23,768 | 52,100 | 34,845 | ||||||||||||
Deferred fuel and purchased power (b) (c) | 2019 | 37,164 | — | 75,637 | — | ||||||||||||
Four Corners cost deferral | 2024 | 8,077 | 40,228 | 8,077 | 48,305 | ||||||||||||
Income taxes — investment tax credit basis adjustment | 2047 | 1,079 | 25,522 | 1,066 | 26,218 | ||||||||||||
Lost fixed cost recovery (b) | 2019 | 32,435 | — | 59,844 | — | ||||||||||||
Palo Verde VIEs (Note 18) | 2046 | — | 20,015 | — | 19,395 | ||||||||||||
Deferred compensation | 2036 | — | 36,523 | — | 36,413 | ||||||||||||
Deferred property taxes | 2027 | 8,569 | 66,356 | 8,569 | 74,926 | ||||||||||||
Loss on reacquired debt | 2038 | 1,637 | 13,668 | 1,637 | 15,305 | ||||||||||||
Tax expense of Medicare subsidy | 2024 | 1,235 | 6,176 | 1,236 | 7,415 | ||||||||||||
TCA balancing account (b) | 2020 | 3,860 | 772 | 1,220 | — | ||||||||||||
AG-1 deferral | 2022 | 2,654 | 5,819 | 2,654 | 8,472 | ||||||||||||
Mead-Phoenix transmission line CIAC | 2050 | 332 | 10,044 | 332 | 10,376 | ||||||||||||
Coal reclamation | 2026 | 1,546 | 15,607 | 1,068 | 12,396 | ||||||||||||
SCR deferral | N/A | — | 23,276 | — | 353 | ||||||||||||
Other | Various | 1,947 | 3,185 | 3,418 | — | ||||||||||||
Total regulatory assets (d) | $ | 166,902 | $ | 1,342,941 | $ | 248,088 | $ | 1,202,302 |
(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 OCI and result in lower future revenues. See Note 7 for further discussion. |
(b) | See “Cost Recovery Mechanisms” discussion above. |
(c) | Subject to a carrying charge. |
December 31, 2018 | December 31, 2017 | ||||||||||||||||
Amortization Through | Current | Non-Current | Current | Non-Current | |||||||||||||
Excess deferred income taxes - ACC - Tax Cuts and Jobs Act | (a) | $ | — | $ | 1,272,709 | $ | — | $ | 1,266,104 | ||||||||
Excess deferred income taxes - FERC - Tax Cuts and Jobs Act | 2058 | 6,302 | 243,691 | — | 254,170 | ||||||||||||
Asset retirement obligations | 2057 | — | 278,585 | — | 332,171 | ||||||||||||
Removal costs | (b) | 39,866 | 177,533 | 18,238 | 209,191 | ||||||||||||
Other post retirement benefits | (c) | 37,864 | 125,903 | 37,642 | 151,985 | ||||||||||||
Income taxes - deferred investment tax credit | 2047 | 2,164 | 51,120 | 2,164 | 52,497 | ||||||||||||
Income taxes - change in rates | 2048 | 2,769 | 70,069 | 2,573 | 70,537 | ||||||||||||
Spent nuclear fuel | 2027 | 6,503 | 57,002 | 6,924 | 62,132 | ||||||||||||
Renewable energy standard (d) | 2020 | 44,966 | 20 | 23,155 | — | ||||||||||||
Demand side management (d) | 2020 | 14,604 | 4,123 | 3,066 | 4,921 | ||||||||||||
Sundance maintenance | 2030 | 1,278 | 17,228 | — | 16,897 | ||||||||||||
Deferred gains on utility property | 2022 | 4,423 | 6,581 | 4,423 | 10,988 | ||||||||||||
Four Corners coal reclamation | 2038 | 1,858 | 17,871 | 1,858 | 18,921 | ||||||||||||
Tax expense adjustor mechanism (d) | 2019 | 3,237 | — | — | — | ||||||||||||
Other | Various | 42 | 3,541 | 43 | 2,022 | ||||||||||||
Total regulatory liabilities | $ | 165,876 | $ | 2,325,976 | $ | 100,086 | $ | 2,452,536 |
(a) | While the majority of the excess deferred tax balance shown is subject to special amortization rules under federal income tax laws, which require amortization of the balance over the remaining regulatory life of the related property, treatment of a portion of the liability, and the month in which pass-through of the excess deferred tax balance will begin is subject to regulatory approval. This approval will be sought through the Company's TEAM adjustor mechanism. As a result, the Company cannot estimate the amount of this regulatory liability which is expected to reverse within the next 12 months. See Note 4. |
(b) | In accordance with regulatory accounting guidance, APS accrues for removal costs for its regulated assets, even if there is no legal obligation for removal. |
(c) | See Note 7. |
(d) | See “Cost Recovery Mechanisms” discussion above. |