2014 Form 10-K Financial Statement

#000076462215000013 Filed on February 20, 2015

View on sec.gov

Income Statement

Concept 2014 2013 Q4 2013 Q3
Revenue $3.492B $699.8M $1.152B
YoY Change 1.07% 0.96% 3.87%
Cost Of Revenue $1.180B $351.0M
YoY Change 7.68% 15.87%
Gross Profit $2.312B $801.4M
YoY Change -2.0% -0.64%
Gross Profit Margin 66.21% 69.55%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $496.5M $114.3M $128.5M
YoY Change 0.85% -5.3% 6.29%
% of Gross Profit 21.48% 16.03%
Operating Expenses $2.614B $617.2M $735.4M
YoY Change 0.62% 4.29% 11.17%
Operating Profit $811.2M $83.90M $415.7M
YoY Change -4.15% -17.17% -7.21%
Interest Expense $185.5M -$38.10M $47.35M
YoY Change -0.82% -6.85% -2.19%
% of Operating Profit 22.87% -45.41% 11.39%
Other Income/Expense, Net $18.65M -$2.600M -$1.706M
YoY Change 65.63% -64.38% -494.91%
Pretax Income $644.4M $42.00M $366.6M
YoY Change -3.9% -20.9% -8.34%
Income Tax $220.7M $9.167M $131.9M
% Of Pretax Income 34.25% 21.83% 35.98%
Net Earnings $423.7M $24.30M $234.7M
YoY Change -3.7% 7.52% -7.18%
Net Earnings / Revenue 12.13% 3.47% 20.37%
Basic Earnings Per Share $3.59 $0.22 $2.06
Diluted Earnings Per Share $3.58 $0.22 $2.04
COMMON SHARES
Basic Shares Outstanding 110.6M shares 110.0M shares 110.0M shares
Diluted Shares Outstanding 111.2M shares 111.1M shares

Balance Sheet

Concept 2014 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.000M $10.00M $135.0M
YoY Change -20.0% -61.54% 70.89%
Cash & Equivalents $8.000M $9.526M $135.5M
Short-Term Investments
Other Short-Term Assets $412.0M $39.90M $36.81M
YoY Change 20.47% 7.53% 31.16%
Inventory $256.0M $260.0M $258.0M
Prepaid Expenses
Receivables $295.0M $297.0M $424.0M
Other Receivables $3.000M $135.0M $133.0M
Total Short-Term Assets $973.0M $1.044B $1.350B
YoY Change -6.8% 3.77% 22.9%
LONG-TERM ASSETS
Property, Plant & Equipment $11.08B $9.900B $9.496B
YoY Change 3.21% 5.13% 3.06%
Goodwill
YoY Change
Intangibles $157.7M $160.1M
YoY Change -2.75% 4.89%
Long-Term Investments
YoY Change
Other Assets $2.121B $60.88M $60.22M
YoY Change 34.58% -2.9% -3.54%
Total Long-Term Assets $13.32B $12.47B $12.47B
YoY Change 6.83% 0.74% 0.9%
TOTAL ASSETS
Total Short-Term Assets $973.0M $1.044B $1.350B
Total Long-Term Assets $13.32B $12.47B $12.47B
Total Assets $14.29B $13.51B $13.82B
YoY Change 5.77% 0.96% 2.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $295.0M $284.5M $250.0M
YoY Change 3.51% 28.56% 8.16%
Accrued Expenses $53.00M $48.00M $46.00M
YoY Change 10.42% -2.04% -9.8%
Deferred Revenue
YoY Change
Short-Term Debt $147.0M $153.1M $0.00
YoY Change -3.92% 66.12%
Long-Term Debt Due $384.0M $540.0M $566.0M
YoY Change -28.89% 339.02% 528.89%
Total Short-Term Liabilities $1.559B $1.619B $1.447B
YoY Change -3.71% 49.38% 52.41%
LONG-TERM LIABILITIES
Long-Term Debt $3.007B $2.796B $2.820B
YoY Change 7.55% -12.59% -15.53%
Other Long-Term Liabilities $2.443B $185.7M $178.1M
YoY Change 8.63% 0.99% -28.23%
Total Long-Term Liabilities $5.450B $2.982B $2.998B
YoY Change 8.03% -11.85% -16.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.559B $1.619B $1.447B
Total Long-Term Liabilities $5.450B $2.982B $2.998B
Total Liabilities $9.921B $4.601B $4.445B
YoY Change 6.52% 3.01% -2.01%
SHAREHOLDERS EQUITY
Retained Earnings $1.785B $1.886B
YoY Change 9.92% 9.59%
Common Stock $2.492B $2.489B
YoY Change 1.0% 1.35%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.308M $10.08M
YoY Change 2.3% 599.93%
Treasury Stock Shares 98.94K shares
Shareholders Equity $4.367B $4.194B $4.276B
YoY Change
Total Liabilities & Shareholders Equity $14.29B $13.51B $13.82B
YoY Change 5.77% 0.96% 2.69%

Cashflow Statement

Concept 2014 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income $423.7M $24.30M $234.7M
YoY Change -3.7% 7.52% -7.18%
Depreciation, Depletion And Amortization $496.5M $114.3M $128.5M
YoY Change 0.85% -5.3% 6.29%
Cash From Operating Activities $1.100B $271.0M $428.0M
YoY Change -4.65% 12.17% -9.11%
INVESTING ACTIVITIES
Capital Expenditures -$910.6M -$434.8M -$204.9M
YoY Change -10.4% 98.63% -16.67%
Acquisitions
YoY Change
Other Investing Activities -$347.0K -$2.700M $4.900M
YoY Change -116.85% 170.0% -34.67%
Cash From Investing Activities -$922.7M -$437.4M -$200.1M
YoY Change -8.59% 98.91% -16.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $15.29M
YoY Change -11.73%
Debt Paid & Issued, Net $652.6M
YoY Change 431.29%
Cash From Financing Activities -$178.9M 40.50M -120.3M
YoY Change 11.4% -154.0% -26.74%
NET CHANGE
Cash From Operating Activities $1.100B 271.0M 428.0M
Cash From Investing Activities -$922.7M -437.4M -200.1M
Cash From Financing Activities -$178.9M 40.50M -120.3M
Net Change In Cash -$1.922M -125.9M 107.6M
YoY Change -88.47% 136.21% 57.54%
FREE CASH FLOW
Cash From Operating Activities $1.100B $271.0M $428.0M
Capital Expenditures -$910.6M -$434.8M -$204.9M
Free Cash Flow $2.010B $705.8M $632.9M
YoY Change -7.35% 53.27% -11.7%

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CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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54995000 USD
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57756000 USD
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CY2014 us-gaap Allocated Share Based Compensation Expense
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CY2013 us-gaap Allowance For Funds Used During Construction Investing Activities
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CY2014Q4 us-gaap Assets
Assets
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50000000 USD
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53000000 USD
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AmortizationOfIntangibleAssets
53000000 USD
CY2012 us-gaap Amortization Of Regulatory Asset
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4000000 USD
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8000000 USD
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8000000 USD
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33000000 USD
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26202000 USD
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CashAndCashEquivalentsAtCarryingValue
9526000 USD
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7604000 USD
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CY2014Q4 us-gaap Commitments And Contingencies
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CommonStockNoParValue
CY2014Q4 us-gaap Common Stock No Par Value
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150000000 shares
CY2014Q4 us-gaap Common Stock Shares Authorized
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150000000 shares
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110280703 shares
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CY2014Q4 us-gaap Common Stock Value
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CY2014Q4 us-gaap Common Stock Value Outstanding
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451319000 USD
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433608000 USD
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581369000 USD
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994790000 USD
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CostOfGoodsSoldElectric
1095709000 USD
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1179829000 USD
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404336000 USD
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CostOfServicesDepreciationAndAmortization
415708000 USD
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CostOfServicesDepreciationAndAmortization
417358000 USD
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CostsAndExpenses
2450049000 USD
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CostsAndExpenses
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96796000 USD
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100533000 USD
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CurrentIncomeTaxExpenseBenefit
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8395000 USD
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10537000 USD
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10382000 USD
CY2013Q4 us-gaap Customer Advances For Construction
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114480000 USD
CY2014Q4 us-gaap Customer Advances For Construction
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123052000 USD
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76101000 USD
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72307000 USD
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3337000000 USD
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3415000000 USD
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642007000 USD
CY2014Q4 us-gaap Decommissioning Trust Assets Amount
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DeferredIncomeTaxExpenseBenefit
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DeferredIncomeTaxExpenseBenefit
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DeferredIncomeTaxExpenseBenefit
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DeferredStateAndLocalIncomeTaxExpenseBenefit
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148492000 USD
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138729000 USD
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0 USD
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5484000 USD
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0 USD
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0.0400
CY2012 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate
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us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate
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0.0500
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CY2013Q4 us-gaap Derivative Instruments And Hedges
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CY2012 us-gaap Dividends Common Stock
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CY2013 us-gaap Dividends Common Stock
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CY2014 us-gaap Dividends Common Stock
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62528000 USD
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2.20
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0.05
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3.59
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3.45
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0.22
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1.18
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2.04
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0.22
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3.66
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0.14
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1.19
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2.20
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0.05
CY2014 us-gaap Earnings Per Share Diluted
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3.58
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0.35
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0.35
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CY2014Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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15000000 USD
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P2Y
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13000000 USD
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10000000 USD
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13000000 USD
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38028000 USD
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37097000 USD
CY2013 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Gain Loss Included In Other Comprehensive Income Loss
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0 USD
CY2014 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Gain Loss Included In Other Comprehensive Income Loss
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0 USD
CY2013 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
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0 USD
CY2014 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
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0 USD
CY2014 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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-12000000 USD
CY2013 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Into Level3
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0 USD
CY2013 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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-10000000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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439703000 USD
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439966000 USD
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489538000 USD
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42000000 USD
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3000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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9000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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21000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
32000000 USD
CY2014 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Into Level3
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersIntoLevel3
-2000000 USD
CY2013 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Out Of Level3
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3
1000000 USD
CY2014 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Out Of Level3
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3
2000000 USD
CY2012Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
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CY2013Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
-49000000 USD
CY2014Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
-41000000 USD
CY2014 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P6Y
CY2012 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
0 USD
CY2014 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
8386000 USD
CY2012 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
387380000 USD
CY2013 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
406074000 USD
CY2014 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
397595000 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
656310000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
670557000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
644401000 USD
CY2012 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
418993000 USD
CY2013Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
32836000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
139598000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
234718000 USD
CY2013Q4 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
32814000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
24691000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
141384000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
248086000 USD
CY2014Q4 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
9535000 USD
CY2014 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
423696000 USD
CY2012 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
3.54
CY2013 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
3.69
CY2014 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
3.59
CY2012 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.50
CY2013 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.66
CY2014 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.58
CY2012 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-5829000 USD
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2012 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-5838000 USD
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
CY2013 us-gaap Increase Decrease In Income Taxes Receivable
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133094000 USD
CY2014 us-gaap Increase Decrease In Income Taxes Receivable
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-132419000 USD
CY2013Q4 us-gaap Income Tax Examination Liability Refund Adjustment From Settlement With Taxing Authority
IncomeTaxExaminationLiabilityRefundAdjustmentFromSettlementWithTaxingAuthority
-133000000 USD
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
237317000 USD
CY2013Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12469000 USD
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
77043000 USD
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
131912000 USD
CY2013Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9167000 USD
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
230591000 USD
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6405000 USD
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
74540000 USD
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
134753000 USD
CY2014Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5007000 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
220705000 USD
CY2012 us-gaap Income Tax Reconciliation Deductions Medicare Prescription Drug Benefit Subsidy
IncomeTaxReconciliationDeductionsMedicarePrescriptionDrugBenefitSubsidy
-483000 USD
CY2013 us-gaap Income Tax Reconciliation Deductions Medicare Prescription Drug Benefit Subsidy
IncomeTaxReconciliationDeductionsMedicarePrescriptionDrugBenefitSubsidy
-823000 USD
CY2014 us-gaap Income Tax Reconciliation Deductions Medicare Prescription Drug Benefit Subsidy
IncomeTaxReconciliationDeductionsMedicarePrescriptionDrugBenefitSubsidy
-830000 USD
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
229709000 USD
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
234695000 USD
CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
225540000 USD
CY2012 us-gaap Income Tax Reconciliation Minority Interest Income Expense
IncomeTaxReconciliationMinorityInterestIncomeExpense
11065000 USD
CY2013 us-gaap Income Tax Reconciliation Minority Interest Income Expense
IncomeTaxReconciliationMinorityInterestIncomeExpense
11862000 USD
CY2014 us-gaap Income Tax Reconciliation Minority Interest Income Expense
IncomeTaxReconciliationMinorityInterestIncomeExpense
9135000 USD
CY2012 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
2559000 USD
CY2013 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-551000 USD
CY2014 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-1228000 USD
CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
23819000 USD
CY2013 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
21387000 USD
CY2014 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
18149000 USD
CY2012 us-gaap Income Tax Reconciliation Tax Credits Investment
IncomeTaxReconciliationTaxCreditsInvestment
2030000 USD
CY2013 us-gaap Income Tax Reconciliation Tax Credits Investment
IncomeTaxReconciliationTaxCreditsInvestment
3548000 USD
CY2014 us-gaap Income Tax Reconciliation Tax Credits Investment
IncomeTaxReconciliationTaxCreditsInvestment
4928000 USD
CY2012 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2543000 USD
CY2013 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
18537000 USD
CY2014 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-102154000 USD
CY2013Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
135517000 USD
CY2014Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
3098000 USD
CY2012 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-96600000 USD
CY2013 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
45414000 USD
CY2014 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-353000 USD
CY2012 us-gaap Increase Decrease In Accrued Taxes Payable
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12736000 USD
CY2013 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
6059000 USD
CY2014 us-gaap Increase Decrease In Accrued Taxes Payable
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9615000 USD
CY2012 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-2216000 USD
CY2013 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-993000 USD
CY2014 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
343000 USD
CY2012 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
4043000 USD
CY2014 us-gaap Increase Decrease In Prepaid Expense
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-4384000 USD
CY2012 us-gaap Increase Decrease In Receivables
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-14587000 USD
CY2013 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
44991000 USD
CY2014 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
52672000 USD
CY2012 us-gaap Increase Decrease In Regulatory Clause Revenue
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71573000 USD
CY2013 us-gaap Increase Decrease In Regulatory Clause Revenue
IncreaseDecreaseInRegulatoryClauseRevenue
21678000 USD
CY2014 us-gaap Increase Decrease In Regulatory Clause Revenue
IncreaseDecreaseInRegulatoryClauseRevenue
-26927000 USD
CY2012 us-gaap Increase Decrease In Regulatory Liabilities
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13539000 USD
CY2013 us-gaap Increase Decrease In Regulatory Liabilities
IncreaseDecreaseInRegulatoryLiabilities
64473000 USD
CY2014 us-gaap Increase Decrease In Regulatory Liabilities
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59618000 USD
CY2012 us-gaap Increase Decrease In Unbilled Receivables
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-30394000 USD
CY2012 us-gaap Increase Decrease In Inventories
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23043000 USD
CY2013 us-gaap Increase Decrease In Inventories
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11878000 USD
CY2014 us-gaap Increase Decrease In Inventories
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-3724000 USD
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23869000 USD
CY2013 us-gaap Increase Decrease In Other Accrued Liabilities
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CY2013 us-gaap Increase Decrease In Unbilled Receivables
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1951000 USD
CY2014 us-gaap Increase Decrease In Unbilled Receivables
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3737000 USD
CY2014 us-gaap Increase Decrease In Other Accrued Liabilities
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17892000 USD
CY2012 us-gaap Increase Decrease In Other Operating Assets
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-6872000 USD
CY2013 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
41757000 USD
CY2014 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
59344000 USD
CY2012 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
29801000 USD
CY2013 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-24682000 USD
CY2014 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-78210000 USD
CY2012 us-gaap Increase Decrease In Prepaid Expense
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27352000 USD
CY2013 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
17913000 USD
CY2013Q4 us-gaap Intangible Assets Net Excluding Goodwill
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157689000 USD
CY2014Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
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CY2012 us-gaap Interest Costs Incurred
InterestCostsIncurred
214616000 USD
CY2013 us-gaap Interest Costs Incurred
InterestCostsIncurred
201888000 USD
CY2014 us-gaap Interest Costs Incurred
InterestCostsIncurred
200950000 USD
CY2012 us-gaap Interest Expense
InterestExpense
199645000 USD
CY2013 us-gaap Interest Expense
InterestExpense
187027000 USD
CY2014 us-gaap Interest Expense
InterestExpense
185493000 USD
CY2012 us-gaap Interest Paid Net
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200923000 USD
CY2013 us-gaap Interest Paid Net
InterestPaidNet
184010000 USD
CY2014 us-gaap Interest Paid Net
InterestPaidNet
177074000 USD
CY2013Q4 us-gaap Interest Payable Current
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48351000 USD
CY2014Q4 us-gaap Interest Payable Current
InterestPayableCurrent
52603000 USD
CY2012 us-gaap Investment Income Interest
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1239000 USD
CY2013 us-gaap Investment Income Interest
InvestmentIncomeInterest
1629000 USD
CY2014 us-gaap Investment Income Interest
InvestmentIncomeInterest
1010000 USD
CY2012 us-gaap Investment Tax Credit
InvestmentTaxCredit
41579000 USD
CY2013 us-gaap Investment Tax Credit
InvestmentTaxCredit
52542000 USD
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
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1171122000 USD
CY2014Q4 us-gaap Liability For Uncertain Tax Positions Noncurrent
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19377000 USD
CY2014 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
0 USD
CY2013Q4 us-gaap Mine Reclamation And Closing Liability Noncurrent
MineReclamationAndClosingLiabilityNoncurrent
207453000 USD
CY2014Q4 us-gaap Mine Reclamation And Closing Liability Noncurrent
MineReclamationAndClosingLiabilityNoncurrent
198292000 USD
CY2014 us-gaap Investment Tax Credit
InvestmentTaxCredit
26246000 USD
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
19000000 USD
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
18000000 USD
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
18000000 USD
CY2013Q4 us-gaap Liabilities Current
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CY2013Q4 us-gaap Minority Interest
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145990000 USD
CY2014Q4 us-gaap Minority Interest
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CY2012 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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10875000 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
13508686000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
14313532000 USD
CY2012 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
0 USD
CY2013 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
145609000 USD
CY2014Q4 us-gaap Liabilities Current
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1559143000 USD
CY2013Q4 us-gaap Liabilities Fair Value Disclosure
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90000000 USD
CY2014Q4 us-gaap Liabilities Fair Value Disclosure
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74000000 USD
CY2013Q4 us-gaap Liability For Uncertain Tax Positions Noncurrent
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42209000 USD
CY2013 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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17385000 USD
CY2014 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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20482000 USD
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
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CY2013 us-gaap Net Cash Provided By Used In Financing Activities
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CY2014 us-gaap Net Cash Provided By Used In Financing Activities
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CY2012 us-gaap Net Cash Provided By Used In Investing Activities
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CY2013 us-gaap Net Cash Provided By Used In Investing Activities
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CY2014 us-gaap Net Cash Provided By Used In Investing Activities
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CY2013Q4 us-gaap Long Term Debt Fair Value
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3579000000 USD
CY2014Q4 us-gaap Long Term Debt Fair Value
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3839000000 USD
CY2013Q4 us-gaap Long Term Debt Noncurrent
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CY2014Q4 us-gaap Long Term Debt Noncurrent
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3031215000 USD
CY2012 us-gaap Loss On Sale Of Investments
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2453000 USD
CY2013 us-gaap Loss On Sale Of Investments
LossOnSaleOfInvestments
3711000 USD
CY2014 us-gaap Loss On Sale Of Investments
LossOnSaleOfInvestments
9426000 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
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1153307000 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1099627000 USD
CY2012 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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31622000 USD
CY2013 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
33892000 USD
CY2014 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
26101000 USD
CY2012 us-gaap Net Income Loss Available To Common Stockholders Basic
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381542000 USD
CY2013Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
24444000 USD
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
131207000 USD
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
226163000 USD
CY2013Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
24260000 USD
CY2013 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
406074000 USD
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
15766000 USD
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
132458000 USD
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
243961000 USD
CY2014Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5410000 USD
CY2014 us-gaap Net Income Loss Available To Common Stockholders Basic
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397595000 USD
CY2012 us-gaap Nonoperating Income Expense
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4200000 USD
CY2013 us-gaap Nonoperating Income Expense
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11261000 USD
CY2014 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
18652000 USD
CY2013Q4 us-gaap Nuclear Fuel Net Of Amortization
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124557000 USD
CY2014Q4 us-gaap Nuclear Fuel Net Of Amortization
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125201000 USD
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
851755000 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
86923000 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
259812000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
415688000 USD
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
83900000 USD
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
846323000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
75170000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
254113000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
421775000 USD
CY2014Q4 us-gaap Operating Income Loss
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60184000 USD
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
811242000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due
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99000000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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18000000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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3000000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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4000000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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5000000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
6000000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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63000000 USD
CY2013Q4 us-gaap Other Assets Current
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CY2014Q4 us-gaap Other Assets Current
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CY2013Q4 us-gaap Other Assets Noncurrent
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CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
54047000 USD
CY2013 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
5381000 USD
CY2014 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
38155000 USD
CY2013 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
35955000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
9912000 USD
CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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CY2013 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-9421000 USD
CY2014 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
2761000 USD
CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-651000 USD
CY2013 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-6156000 USD
CY2014 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
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1017000 shares
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822000 shares
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552000 shares
CY2014 us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;">Electric Revenues</font></div><div style="line-height:120%;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;">&#160;</font></div><div style="line-height:120%;text-indent:48px;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;">We derive electric revenues primarily from sales of electricity to our regulated Native Load customers.&#160; Revenues related to the sale of electricity are generally recorded when service is rendered or electricity is delivered to customers.&#160; The billing of electricity sales to individual Native Load customers is based on the reading of their meters, which occurs on a systematic basis throughout the month.&#160; Unbilled revenues are estimated by applying an average revenue/kWh by customer class to the number of estimated kWhs delivered but not billed.&#160; Differences historically between the actual and estimated unbilled revenues are immaterial.&#160; We exclude sales taxes and franchise fees on electric revenues from both revenue and taxes other than income taxes.</font></div><div style="line-height:120%;text-indent:48px;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;">&#160;</font></div><div style="line-height:120%;text-indent:48px;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;">Revenues from our Native Load customers and non-derivative instruments are reported on a gross basis on Pinnacle West&#8217;s Consolidated Statements of Income.&#160; In the electricity business, some contracts to purchase energy are netted against other contracts to sell energy.&#160; This is called a &#8220;book-out&#8221; and usually occurs for contracts that have the same terms (quantities and delivery points) and for which power does not flow.&#160; We net these book-outs, which reduces both revenues and fuel and purchased power costs.</font></div><div style="line-height:120%;text-indent:48px;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;">&#160;</font></div><div style="line-height:120%;text-indent:48px;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;">For the period January&#160;1, 2010 through June&#160;30, 2012, electric revenues also include proceeds for line extension payments for new or upgraded service in accordance with the 2009 Settlement Agreement (see Note 3).&#160; Effective July&#160;1, 2012, as a result of the 2012 Settlement Agreement, these amounts are now recorded as contributions in aid of construction and are not included in electric revenues.</font></div><div style="line-height:120%;text-indent:48px;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;">&#160;</font></div><div style="line-height:120%;text-indent:48px;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;">Some of our cost recovery mechanisms are alternative revenue programs.&#160; For alternative revenue programs that meet specified accounting criteria, we recognize revenues when the specific events permitting billing of the additional revenues have been completed.</font></div></div>
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;">Accounting Records and Use of Estimates</font></div><div style="line-height:120%;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;">&#160;</font></div><div style="line-height:120%;text-indent:48px;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;">Our accounting records are maintained in accordance with GAAP.&#160; The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period.&#160; Actual results could differ from those estimates.</font></div></div>

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