Arizona Public Service 10-K2005 FY Annual report

Filed: 13 Mar 06, 12:00am

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Readability	7th grade Avg

New words: absorb, absorbed, accidental, acoustic, adjustor, AdjustorThe, aid, APBO, aquifer, Attachment, attack, body, broker, CEED, certainty, Citibank, coalition, column, CompetitionAlthough, conditionally, cooling, cornerstone, Correspondingly, CostsFuel, degraded, deliverable, difficulty, diminish, disadvantage, distinct, downturn, entry, expenditure, filling, focused, franchise, GenWest, greatly, hand, harm, hot, imposition, incremental, indemnify, injection, insolvency, instance, interlocutory, led, leverage, matrix, MCAQD, megawatt, MercuryOn, mild, modification, NEIL, noncompliance, NPC, OCI, overlapping, parcel, piping, PLC, pool, premise, preparatory, ProceedingsThe, Prudential, pumping, relief, restarted, safety, satisfactory, Shelf, shortfall, shut, shutdown, slightly, solution, strategy, SubsidiariesSunCor, surcharge, SurchargesOn, Syndication, terrorist, thirteen, timeframe, twenty, Uncommitted, unconditionally, undergo, unresolved, unscheduled, unusually, variety, VCA, venture, vulnerability, week, wide, withheld, world, yellow

Removed: Absent, accomplish, accredited, Administrator, advance, affiliate, AISA, al, allegheny, anticipated, antitrust, aspect, attempting, Attorney, auditing, binding, british, bullet, Bush, call, capitalizing, CC, complying, considerable, consistency, creation, decline, deed, developed, Diego, directed, Duke, engineer, entirety, evolve, exceeded, expensed, extending, farmington, favor, finalization, greatest, hydro, identifying, implementing, imposed, ISO, JCCP, juan, judge, list, manner, Matlock, merit, millar, Mountain, noncompetitive, nondiscriminatory, oil, opportunity, organization, overriding, oversee, pace, percent, permitted, pleading, prohibiting, recently, reconciled, redemption, refuse, reliable, Reliant, renewed, reply, rescinded, resort, responsive, Robert, rulemaking, Sacramento, salvage, san, Scheduling, secure, setting, solar, solicit, solicitation, statewide, stranded, sulfur, supersede, terminate, Track, transferring, transmitted, treat, ultimately, unaffiliated, unlawful, unmitigated, veto, vetoed, volume, waived, waiver, WC, white, Yucca

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Exhibit 99.29

PINNACLE WEST CAPITAL CORPORATION
NON-GAAP FINANCIAL MEASURE RECONCILIATION — OPERATING INCOME
(GAAP MEASURE) TO GROSS MARGIN (NON-GAAP FINANCIAL MEASURE)
(in thousands)


	TWELVE MONTHS ENDED
	DECEMBER 31,				Increase (Decrease)
	2005		2004		Pretax			After Tax
RECONCILIATION OF REGULATED ELECTRICITY SEGMENT GROSS MARGIN
Operating Income (closest GAAP measure)	$	515,289	$	517,965	$	(2,676	)	$	(1,632	)
Plus:
Operations and maintenance		635,827		592,320		43,507			26,526
Real estate segment operations		278,366		284,194		(5,828	)		(3,553	)
Depreciation and amortization		347,652		391,597		(43,945	)		(26,793	)
Taxes other than income taxes		132,040		120,722		11,318			6,901
Other expenses		51,987		34,108		17,879			10,901
Regulatory disallowance		138,562		—		138,562			84,481
Marketing and trading segment fuel and purchased power		293,091		320,667		(27,576	)		(16,813	)
Less:
Real estate segment revenues		338,031		350,315		(12,284	)		(7,490	)
Other revenues		61,221		42,816		18,405			11,222
Marketing and trading segment revenues		351,558		400,628		(49,070	)		(29,918	)

Regulated electricity segment gross margin	$	1,642,004	$	1,467,814	$	174,190		$	106,204


RECONCILIATION OF MARKETING AND TRADING SEGMENT GROSS MARGIN
Operating Income (closest GAAP measure)	$	515,289	$	517,965	$	(2,676	)	$	(1,632	)
Plus:
Operations and maintenance		635,827		592,320		43,507			26,526
Real estate segment operations		278,366		284,194		(5,828	)		(3,553	)
Depreciation and amortization		347,652		391,597		(43,945	)		(26,793	)
Taxes other than income taxes		132,040		120,722		11,318			6,901
Other expenses		51,987		34,108		17,879			10,901
Regulatory disallowance		138,562		—		138,562			84,481
Regulated electricity segment fuel and purchased power		595,141		567,433		27,708			16,894
Less:
Real estate segment revenues		338,031		350,315		(12,284	)		(7,490	)
Other revenues		61,221		42,816		18,405			11,222
Regulated electricity segment revenues		2,237,145		2,035,247		201,898			123,097


Marketing and trading segment gross margin	$	58,467	$	79,961	$	(21,494	)	$	(13,104	)

PINNACLE WEST CAPITAL CORPORATION
NON-GAAP FINANCIAL MEASURE RECONCILIATION — OPERATING INCOME
(GAAP MEASURE) TO GROSS MARGIN (NON-GAAP FINANCIAL MEASURE)
(in thousands)


	TWELVE MONTHS ENDED
	DECEMBER 31,				Increase (Decrease)
	2004		2003		Pretax			After Tax
RECONCILIATION OF REGULATED ELECTRICITY SEGMENT GROSS MARGIN
Operating Income (closest GAAP measure)	$	517,965	$	473,252	$	44,713		$	27,262
Plus:
Operations and maintenance		592,320		548,732		43,588			26,576
Real estate segment operations		284,194		305,974		(21,780	)		(13,279	)
Depreciation and amortization		391,597		435,140		(43,543	)		(26,548	)
Taxes other than income taxes		120,722		110,270		10,452			6,373
Other expenses		34,108		23,254		10,854			6,618
Marketing and trading segment fuel and purchased power		320,667		344,862		(24,195	)		(14,752	)
Less:
Real estate segment revenues		350,315		361,604		(11,289	)		(6,883	)
Other revenues		42,816		27,929		14,887			9,077
Marketing and trading segment revenues		400,628		391,196		9,432			5,751

Regulated electricity segment gross margin	$	1,467,814	$	1,460,755	$	7,059		$	4,305


RECONCILIATION OF MARKETING AND TRADING SEGMENT GROSS MARGIN
Operating Income (closest GAAP measure)	$	517,965	$	473,252	$	44,713		$	27,262
Plus:
Operations and maintenance		592,320		548,732		43,588			26,576
Real estate segment operations		284,194		305,974		(21,780	)		(13,279	)
Depreciation and amortization		391,597		435,140		(43,543	)		(26,548	)
Taxes other than income taxes		120,722		110,270		10,452			6,373
Other expenses		34,108		23,254		10,854			6,618
Regulated electricity segment fuel and purchased power		567,433		517,320		50,113			30,554
Less:
Real estate segment revenues		350,315		361,604		(11,289	)		(6,883	)
Other revenues		42,816		27,929		14,887			9,077
Regulated electricity segment revenues		2,035,247		1,978,075		57,172			34,858


Marketing and trading segment gross margin	$	79,961	$	46,334	$	33,627		$	20,504

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