ML17312B558: Difference between revisions

From kanterella
Jump to navigation Jump to search
(Created page by program invented by StriderTol)
(Created page by program invented by StriderTol)
 
(3 intermediate revisions by the same user not shown)
Line 3: Line 3:
| issue date = 07/10/1997
| issue date = 07/10/1997
| title = Forwards Projected Cash Flow Statements for PVNGS Participants,Per 10CFR140.21(e).Cash Flow Statemement for El Paso Electric Co Should Be Withheld from Public Disclosure
| title = Forwards Projected Cash Flow Statements for PVNGS Participants,Per 10CFR140.21(e).Cash Flow Statemement for El Paso Electric Co Should Be Withheld from Public Disclosure
| author name = LEVINE J M
| author name = Levine J
| author affiliation = ARIZONA PUBLIC SERVICE CO. (FORMERLY ARIZONA NUCLEAR
| author affiliation = ARIZONA PUBLIC SERVICE CO. (FORMERLY ARIZONA NUCLEAR
| addressee name =  
| addressee name =  
Line 17: Line 17:


=Text=
=Text=
{{#Wiki_filter:j ATEQORY j.REGULATOIINPORMATION:DISTRIBUTION TEM (SIDS)AUTH.NAME'UTHOR AFFIIIATION LEVINE,J.M.
{{#Wiki_filter:j ATEQORY j.
Arizona Public Service Co.(formerly Arizona Nuclear Power RECIP.NAME RECiPIENT AFFILIATION Document Control Branch (Document Control Desk)
REGULATOIINPORMATION:DISTRIBUTION           TEM     (SIDS)
ACCE!FUSION                          DOC . DATE: 97/07/1 0  NOTARY Z ED: YES        DOCK FT NBR:'3707 180 2 1 2 FACA'~:STN-50-528 Palo Verde Nuclear Station,'Unit. 1, Arizona Publ,i              05000528 STN-50-529 Palo Verde 'Nuclear Station,"Unit 2, Ar'zona Publi              05000529 STN-50-530 Pa1o Verde Nuclear Station, Ua,'.t 3, Arizona Publi              05000530 AUTH. NAME'UTHOR AFFIIIATION LEVINE,J.M.           Arizona Public Service Co. (formerly Arizona Nuclear Power RECIP.NAME           RECiPIENT AFFILIATION Document Control Branch       (Document   Control Desk)


==SUBJECT:==
==SUBJECT:==
Forwards projected cash flow statements for PVNGS Participants,per
Forwards projected cash flow statements for PVNGS Participants,per .10CFR140.21(e},Cash flow statemement             for El Paso Electric     Co should be withheld from public disclosure, DISTRIBUTION CODE: MOOID TITIE: Insurance:
.10CFR140.21(e},Cash flow statemement for El Paso Electric Co should be withheld from public disclosure, DISTRIBUTION CODE: MOOID COPIES RECEIVED:LTR L ENCL!SIZE!++/I5 TITIE: Insurance:
COPIES RECEIVED:LTR Indemnity/Endorsement L
Indemnity/Endorsement Agreements ACCE!FUSION NBR:'3707 180 2 1 2 DOC.DATE: 97/07/1 0 NOTARY Z ED: YES DOCK FT FACA'~:STN-50-528 Palo Verde Nuclear Station,'Unit.
Agreements ENCL   !   SIZE!++     /I5 NOTES:STANDARDIZED PLANT                                                           05000528 Standardized plant.                                                         05000529 G Standardized plant.                                                         05000530 0
1, Arizona Publ,i 05000528 STN-50-529 Palo Verde'Nuclear Station,"Unit 2, Ar'zona Publi 05000529 STN-50-530 Pa1o Verde Nuclear Station, Ua,'.t 3, Arizona Publi 05000530 NOTES:STANDARDIZED PLANT Standardized plant.Standardized plant.05000528 05000529 G 05000530 0 RECIPIENT ID CODE/NAME THOMAS,K INTERNAL: CENTER 01 COPIES LTTR ENCL 1 0 RECiPIENT ID CODE/NAME COPIES LTTR ENCL EXTERNAL: NRC PDR E NOTE TO ALL NRIDSrI RECIPIENTS:
RECIPIENT             COPIES            RECiPIENT          COPIES ID CODE/NAME           LTTR ENCL       ID CODE/NAME         LTTR ENCL THOMAS,K                  1      0 INTERNAL:          CENTER    01 EXTERNAL: NRC PDR E
PLEASE HELP US TO REDUCE WASTE!CONTACT THE DOCUMENT CONTROL DESK/ROOM OWFN 5D"5(EXT.415-2083)TO ELIMINATE YOUR NAME FROM DISTRIBUTION LISTS FOR DOCUMENTS YOU DON'T NEED!TOTAL NUMBER OF COPIES REQUIRED: LTTR 3 ENCL 2 l"~4**~'
NOTE TO ALL NRIDSrI RECIPIENTS:
Co rl~rn~lron, ecmy.Palo Verde Nuclear Generating Station James M.Levine Senior Vice President Nuclear TEL (602)393-5300 FAX (602)3934077.
PLEASE HELP US TO REDUCE WASTE! CONTACT THE DOCUMENT CONTROL DESK/
Mail Station 7602 P.O.Box 52034 Phoenix, AZ 85072-2034 U.S.Nuclear Regulatory Commission ATl N: Document Control Desk Mail Station P1-37 Washington, DC 20555-0001 10CFR 140.21 (e)102-03970-JML/AKK/JRP July 10, 1997
ROOM OWFN 5D"5(EXT. 415-2083) TO ELIMINATE YOUR NAME FROM DISTRIBUTION LISTS FOR DOCUMENTS YOU DON'T NEED!
TOTAL NUMBER OF COPIES REQUIRED: LTTR               3   ENCL     2
 
l
    "~ 4   *
* ~
 
Co   rl~rn~lron, ecmy.
James M. Levine       TEL (602)393-5300     Mail Station 7602 Palo Verde Nuclear              Senior Vice President FAX (602)3934077.     P.O. Box 52034 Generating Station              Nuclear                                      Phoenix, AZ 85072-2034 10CFR 140.21 (e) 102-03970 - JML/AKK/JRP July 10, 1997 U. S. Nuclear Regulatory Commission ATl N: Document Control Desk Mail Station P1-37 Washington, DC 20555-0001


==Dear Sirs:==
==Dear Sirs:==


==Subject:==
==Subject:==
Palo Verde Nuclear Generating Station (PVNGS)Units 1, 2, and 3 Docket Nos.STN 50-528/529/530 Licensee Guarantee of Payment of Deferred Premium Pursuant to the requirements of 10 CFR 140.21(e), Arizona Public Service Company (APS), for itself and on behalf of the PVNGS Participants, herewith submits the projected cash flow statements (enclosure).
Palo Verde Nuclear Generating Station (PVNGS)
Please note that the projected cash flow statement for the El Paso Electric Company is considered a CONFIDENTIAL DOCUMENT, for which an affidavit is provided.The affidavit sets forth the basis on which the information may be withheld from public disclosure by the Commission and specifically addresses the considerations listed in 10CFR 2.790 (b)(1)(ii).Accordingly, it is requested that the El Paso Electric Company projected cash flow statement be withheld from public disclosure in accordance with 10CFR 2.790(b)(1).Should you have any questions, please contact Scott A.Bauer at (602)393-5978.Sincerely, JML/AKK/J RP/mah Enclosure cc: E.W.Merschoff K.E.Perkins K.M.Thomas F.L.Brush tQOOJd 9707i802i2 9707i0 PDR ADOCK 05000528,,'DR LI IIIIIII!Illlllllllllllllllllllllllllllll  
Units 1, 2, and 3 Docket Nos. STN 50-528/529/530 Licensee Guarantee of Payment of Deferred Premium Pursuant to the requirements of 10 CFR 140.21(e), Arizona Public Service Company (APS), for itself and on behalf of the PVNGS Participants, herewith submits the projected cash flow statements (enclosure). Please note that the projected cash flow statement         for the El Paso Electric Company is considered a CONFIDENTIAL DOCUMENT, for which an affidavit is provided. The affidavit sets forth the basis on which the information may be withheld from public disclosure by the Commission and specifically addresses the considerations listed in 10CFR 2.790 (b) (1) (ii). Accordingly, it is requested that the El Paso Electric Company projected cash flow statement be withheld from public disclosure in accordance with 10CFR 2.790(b) (1).
Should you have any questions, please contact Scott A. Bauer at (602) 393 -5978.
Sincerely, JML/AKK/JRP/mah Enclosure cc:       E. W. Merschoff K. E. Perkins K. M. Thomas F. L. Brush tQOOJd 9707i802i2 9707i0 PDR     ADOCK       05000528,,'DR                                               IIIIIII!Illlllllllllllllllllllllllllllll LI
 
1997 PRO FORMA CASH FLOW STATEMENT FOR PUBLIC SERVICE COMPANY OF NEW MEXIOC (EXCLUDINGNON-UTILITYSUBSIDIARIES)
* 1996 Actual Net Income AAer Taxes                        72,580                        77,929 Less Dividends Paid                            15 560                        20 596 Earnings Retained                              57,020                        57,333 Adjustmcnts:
Depreciation 4 Amortization                  91,340                        95,588 Dcfcrrcd Income Taxes Ec Invcstmcnt Tax Credits                      26,960                          2,172 Allowance for Equity Funds Used During Construction                          0                              0 Other, Nct                                  ~39 162                      ~14 437 TOTAL ADJUSTMENTS                              79 138                        83 323 INTERNALCASH FLOW                            136 158                        140 656 Avcragc Quarterly Cash Flow                    34,040                        35,164 Pcrccntagc Entitlcmcnt in all Nuclear Units:
Palo Verde Unit 1 10/2%
Palo Verde Unit 2 10/2%
Palo Vcrdc Unit 3  10.2%
'8Dollazs. inThousands BY:
Tom Satcgna Assistant Controller
 
0
    'L j
I
\


1997 PRO FORMA CASH FLOW STATEMENT FOR PUBLIC SERVICE COMPANY OF NEW MEXIOC (EXCLUDING NON-UTILITY SUBSIDIARIES)
INTERNAL .~H FLOW PROJECTION OF SALT RIVE         OJECT (JOINT OWNER OF PALO VERDE NUCLEAR GENERATING STATION)
*1996 Actual Net Income AAer Taxes Less Dividends Paid Earnings Retained Adjustmcnts:
FOR FISCAL YEARS ENDED APRIL 30, 1996 and 1997
Depreciation 4 Amortization Dcfcrrcd Income Taxes Ec Invcstmcnt Tax Credits Allowance for Equity Funds Used During Construction Other, Nct TOTAL ADJUSTMENTS INTERNAL CASH FLOW 72,580 15 560 57,020 91,340 26,960 0~39 162 79 138 136 158 77,929 20 596 57,333 95,588 2,172 0~14 437 83 323 140 656 Avcragc Quarterly Cash Flow Pcrccntagc Entitlcmcnt in all Nuclear Units: Palo Verde Unit 1-10/2%Palo Verde Unit 2-10/2%Palo Vcrdc Unit 3-10.2%34,040 35,164'8Dollazs.
($ 000) 1996       1997 ACTUAL       ACTUAL Net Income after taxes                                                   $    94,376 $  57,212 Less dividends paid:
inThousands BY: Tom Satcgna Assistant Controller 0'L j I\
Preferred dividend requirements Dividends on common stock Retained Earnings                                                               94,376     57,212 Adjustments:
INTERNAL.~H FLOW PROJECTION OF SALT RIVE OJECT (JOINT OWNER OF PALO VERDE NUCLEAR GENERATING STATION)FOR FISCAL YEARS ENDED APRIL 30, 1996 and 1997 ($000)1996 1997 ACTUAL ACTUAL Net Income after taxes Less dividends paid: Preferred dividend requirements Dividends on common stock$94,376$57,212 Retained Earnings 94,376 57,212 Adjustments:
Depreciation and amortization                                             210,470    238,510 Deferred Income Taxes and Investment Tax Credits Allowance for Funds Used During Construction                                                     9,584       8,743 Total Adjustments                                                             220,054     247,253 Internal Cash Flow                                                            314,430     304,465 Average Quarterly Cash Flow                                               $   78,608 $   76,116 Percentage Ownership in all nuclear units Unit 1                                                                     17 49%     17 49 Unit 2                                                                      17 49       17 49%
Depreciation and amortization Deferred Income Taxes and Investment Tax Credits Allowance for Funds Used During Construction 9,584 8,743 210,470 238,510 Total Adjustments Internal Cash Flow 220,054 247,253 314,430 304,465 Average Quarterly Cash Flow$78,608$76,116 Percentage Ownership in all nuclear units Unit 1 Unit 2 Unit 3 17 49%17 49 17.49%17 49 17 49%17 49%I, Dean Yee, Corporate Treasurer of the Salt River Project Agricultural Improvement and Power District certify that the above figures are based upon our Accounting Records, and agree, as appropriate with our audited financial statements.
Unit 3                                                                      17.49%     17 49%
I, Dean Yee, Corporate Treasurer   of the Salt River Project Agricultural Improvement and Power District certify that the above figures are based upon our Accounting Records, and agree, as appropriate with our audited financial statements.
Dean Yee PVNGSICF.XLS6/1 3/97
Dean Yee PVNGSICF.XLS6/1 3/97
(~
(~
INTERNAL CASHFLOW PROJECTION OF ARIZONA PUBLIC SERVICE COMPANY (Joint Owner Of Palo Verde Nuclear Generating Station'*)
INTERNALCASHFLOW PROJECTION OF ARIZONA PUBLIC SERVICE COMPANY (Joint Owner Of Palo Verde Nuclear Generating Station'*)
($000)1995 Actual 1996 Actual 1997 Est/Imate 1.Net Income After Taxes Less: 2.Dividends Paid on Preferred Stock 3.Dividends Paid on Common Stock 4.Retained Earnings 19,134 170,000 50,436 17,416 170,000 56,325 13,796 170,000 55,360$239,570$243,741$239,156 Adjustments:
($ 000) 1995             1996          1997 Actual           Actual       Est/Imate
5.Value to market for office property 6.Accelerated Amortization of Regulatory Assets (1)7.Depreciation and Amortization (2)8.Deferred income Taxes 9.Deferred ITC (Net)10.Allowance for Funds Used During Construction (Equity&Borrowed)11.Decommissioning 12.Total Adjustments 13.Internal Cash Flow (Line 4+Line 12)14.Average Quarterly Cash Flow (Line 13/4)13,451 273,685 15,346 (27,641)(14,047)(12,174)248,620 299,056 74,764 59,649 271,127 (12,717)(27,630)(14,718)(11,115)264,596 320,921 80,230 117.772 283,259 (62,915)(27,630)(11,877)(11,444)287,165 342,525 85,631 NOTES: '-Percentage Ownership in All Nuclear Units: Unit 1-29.1%Unit 2-29.1%(3)Unit 3-29.1%(1)Related to 4/96 ACC settlement agreement.
: 1. Net Income After Taxes                                           $ 239,570        $ 243,741    $ 239,156 Less:
(2)Includes Nuclear Fuel Amortization.
: 2.       Dividends Paid on Preferred Stock                               19,134          17,416        13,796
(3)Includes the leased portion of Palo Verde Unit 2.I, Gary Volkenant, Director of APS Financial Services certify that these cashflow calculations utilize the Company's approach to estimating cash flows for internal management reports and planning purposes.The 1995 and 1996 cashflows agree as appropriate with the Company's Audited Annual Reports.The 1997 estimate of cashflows is based on the 1997 Company Budg/The 1997 estimate does not reflect actua results to date, as the Budget is not revised to refl c anging condi'ons.G olkena Dir ctor, Fin nci Services, APS H.'ISNSSRVC%EOUESPCSHFLPROJCS 7 P}}
: 3.       Dividends Paid on Common Stock                               170,000          170,000      170,000
: 4. Retained Earnings                                                     50,436           56,325       55,360 Adjustments:
: 5.       Value to market for office property                           13,451
: 6.       Accelerated Amortization of Regulatory Assets (1)                               59,649      117.772
: 7.       Depreciation and Amortization (2)                           273,685          271,127      283,259
: 8.       Deferred income Taxes                                         15,346          (12,717)      (62,915)
: 9.       Deferred ITC (Net)                                           (27,641)          (27,630)      (27,630)
: 10.       Allowance for Funds Used During Construction (Equity & Borrowed)                         (14,047)          (14,718)      (11,877)
: 11.       Decommissioning                                             (12,174)          (11,115)      (11,444)
: 12. Total Adjustments                                                 248,620          264,596      287,165
: 13. Internal Cash Flow (Line 4+ Line 12)                             299,056          320,921      342,525
: 14. Average Quarterly Cash Flow (Line 13/4)                             74,764           80,230       85,631 NOTES:       - Percentage               '
Ownership in All Nuclear Units:
Unit 1 - 29.1%
Unit 2-29.1% (3)
Unit 3 - 29.1%
(1) Related to 4/96 ACC settlement agreement.
(2) Includes Nuclear Fuel Amortization.
(3) Includes the leased portion of Palo Verde Unit 2.
I, Gary Volkenant, Director of APS Financial Services certify that these cashflow calculations utilize the Company's approach to estimating cash flows for internal management reports and planning purposes. The 1995 and 1996 cashflows agree as appropriate with the Company's Audited Annual Reports. The 1997 estimate of cashflows is based on the 1997 Company Budg /The 1997 estimate does not reflect actua results to date, as the Budget is not revised to refl     c anging condi 'ons.
G       olkena Dir ctor, Fin nci   Services, APS H.'ISNSSRVC%EOUESPCSHFLPROJCS
 
7 P}}

Latest revision as of 02:31, 4 February 2020

Forwards Projected Cash Flow Statements for PVNGS Participants,Per 10CFR140.21(e).Cash Flow Statemement for El Paso Electric Co Should Be Withheld from Public Disclosure
ML17312B558
Person / Time
Site: Palo Verde  Arizona Public Service icon.png
Issue date: 07/10/1997
From: James M. Levine
ARIZONA PUBLIC SERVICE CO. (FORMERLY ARIZONA NUCLEAR
To:
NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
Shared Package
ML17312B559 List:
References
102-03970-JML-A, 102-3970-JML-A, NUDOCS 9707180212
Download: ML17312B558 (10)


Text

j ATEQORY j.

REGULATOIINPORMATION:DISTRIBUTION TEM (SIDS)

ACCE!FUSION DOC . DATE: 97/07/1 0 NOTARY Z ED: YES DOCK FT NBR:'3707 180 2 1 2 FACA'~:STN-50-528 Palo Verde Nuclear Station,'Unit. 1, Arizona Publ,i 05000528 STN-50-529 Palo Verde 'Nuclear Station,"Unit 2, Ar'zona Publi 05000529 STN-50-530 Pa1o Verde Nuclear Station, Ua,'.t 3, Arizona Publi 05000530 AUTH. NAME'UTHOR AFFIIIATION LEVINE,J.M. Arizona Public Service Co. (formerly Arizona Nuclear Power RECIP.NAME RECiPIENT AFFILIATION Document Control Branch (Document Control Desk)

SUBJECT:

Forwards projected cash flow statements for PVNGS Participants,per .10CFR140.21(e},Cash flow statemement for El Paso Electric Co should be withheld from public disclosure, DISTRIBUTION CODE: MOOID TITIE: Insurance:

COPIES RECEIVED:LTR Indemnity/Endorsement L

Agreements ENCL  ! SIZE!++ /I5 NOTES:STANDARDIZED PLANT 05000528 Standardized plant. 05000529 G Standardized plant. 05000530 0

RECIPIENT COPIES RECiPIENT COPIES ID CODE/NAME LTTR ENCL ID CODE/NAME LTTR ENCL THOMAS,K 1 0 INTERNAL: CENTER 01 EXTERNAL: NRC PDR E

NOTE TO ALL NRIDSrI RECIPIENTS:

PLEASE HELP US TO REDUCE WASTE! CONTACT THE DOCUMENT CONTROL DESK/

ROOM OWFN 5D"5(EXT. 415-2083) TO ELIMINATE YOUR NAME FROM DISTRIBUTION LISTS FOR DOCUMENTS YOU DON'T NEED!

TOTAL NUMBER OF COPIES REQUIRED: LTTR 3 ENCL 2

l

"~ 4 *

  • ~

Co rl~rn~lron, ecmy.

James M. Levine TEL (602)393-5300 Mail Station 7602 Palo Verde Nuclear Senior Vice President FAX (602)3934077. P.O. Box 52034 Generating Station Nuclear Phoenix, AZ 85072-2034 10CFR 140.21 (e) 102-03970 - JML/AKK/JRP July 10, 1997 U. S. Nuclear Regulatory Commission ATl N: Document Control Desk Mail Station P1-37 Washington, DC 20555-0001

Dear Sirs:

Subject:

Palo Verde Nuclear Generating Station (PVNGS)

Units 1, 2, and 3 Docket Nos. STN 50-528/529/530 Licensee Guarantee of Payment of Deferred Premium Pursuant to the requirements of 10 CFR 140.21(e), Arizona Public Service Company (APS), for itself and on behalf of the PVNGS Participants, herewith submits the projected cash flow statements (enclosure). Please note that the projected cash flow statement for the El Paso Electric Company is considered a CONFIDENTIAL DOCUMENT, for which an affidavit is provided. The affidavit sets forth the basis on which the information may be withheld from public disclosure by the Commission and specifically addresses the considerations listed in 10CFR 2.790 (b) (1) (ii). Accordingly, it is requested that the El Paso Electric Company projected cash flow statement be withheld from public disclosure in accordance with 10CFR 2.790(b) (1).

Should you have any questions, please contact Scott A. Bauer at (602) 393 -5978.

Sincerely, JML/AKK/JRP/mah Enclosure cc: E. W. Merschoff K. E. Perkins K. M. Thomas F. L. Brush tQOOJd 9707i802i2 9707i0 PDR ADOCK 05000528,,'DR IIIIIII!Illlllllllllllllllllllllllllllll LI

1997 PRO FORMA CASH FLOW STATEMENT FOR PUBLIC SERVICE COMPANY OF NEW MEXIOC (EXCLUDINGNON-UTILITYSUBSIDIARIES)

  • 1996 Actual Net Income AAer Taxes 72,580 77,929 Less Dividends Paid 15 560 20 596 Earnings Retained 57,020 57,333 Adjustmcnts:

Depreciation 4 Amortization 91,340 95,588 Dcfcrrcd Income Taxes Ec Invcstmcnt Tax Credits 26,960 2,172 Allowance for Equity Funds Used During Construction 0 0 Other, Nct ~39 162 ~14 437 TOTAL ADJUSTMENTS 79 138 83 323 INTERNALCASH FLOW 136 158 140 656 Avcragc Quarterly Cash Flow 34,040 35,164 Pcrccntagc Entitlcmcnt in all Nuclear Units:

Palo Verde Unit 1 10/2%

Palo Verde Unit 2 10/2%

Palo Vcrdc Unit 3 10.2%

'8Dollazs. inThousands BY:

Tom Satcgna Assistant Controller

0

'L j

I

\

INTERNAL .~H FLOW PROJECTION OF SALT RIVE OJECT (JOINT OWNER OF PALO VERDE NUCLEAR GENERATING STATION)

FOR FISCAL YEARS ENDED APRIL 30, 1996 and 1997

($ 000) 1996 1997 ACTUAL ACTUAL Net Income after taxes $ 94,376 $ 57,212 Less dividends paid:

Preferred dividend requirements Dividends on common stock Retained Earnings 94,376 57,212 Adjustments:

Depreciation and amortization 210,470 238,510 Deferred Income Taxes and Investment Tax Credits Allowance for Funds Used During Construction 9,584 8,743 Total Adjustments 220,054 247,253 Internal Cash Flow 314,430 304,465 Average Quarterly Cash Flow $ 78,608 $ 76,116 Percentage Ownership in all nuclear units Unit 1 17 49% 17 49 Unit 2 17 49 17 49%

Unit 3 17.49% 17 49%

I, Dean Yee, Corporate Treasurer of the Salt River Project Agricultural Improvement and Power District certify that the above figures are based upon our Accounting Records, and agree, as appropriate with our audited financial statements.

Dean Yee PVNGSICF.XLS6/1 3/97

(~

INTERNALCASHFLOW PROJECTION OF ARIZONA PUBLIC SERVICE COMPANY (Joint Owner Of Palo Verde Nuclear Generating Station'*)

($ 000) 1995 1996 1997 Actual Actual Est/Imate

1. Net Income After Taxes $ 239,570 $ 243,741 $ 239,156 Less:
2. Dividends Paid on Preferred Stock 19,134 17,416 13,796
3. Dividends Paid on Common Stock 170,000 170,000 170,000
4. Retained Earnings 50,436 56,325 55,360 Adjustments:
5. Value to market for office property 13,451
6. Accelerated Amortization of Regulatory Assets (1) 59,649 117.772
7. Depreciation and Amortization (2) 273,685 271,127 283,259
8. Deferred income Taxes 15,346 (12,717) (62,915)
9. Deferred ITC (Net) (27,641) (27,630) (27,630)
10. Allowance for Funds Used During Construction (Equity & Borrowed) (14,047) (14,718) (11,877)
11. Decommissioning (12,174) (11,115) (11,444)
12. Total Adjustments 248,620 264,596 287,165
13. Internal Cash Flow (Line 4+ Line 12) 299,056 320,921 342,525
14. Average Quarterly Cash Flow (Line 13/4) 74,764 80,230 85,631 NOTES: - Percentage '

Ownership in All Nuclear Units:

Unit 1 - 29.1%

Unit 2-29.1% (3)

Unit 3 - 29.1%

(1) Related to 4/96 ACC settlement agreement.

(2) Includes Nuclear Fuel Amortization.

(3) Includes the leased portion of Palo Verde Unit 2.

I, Gary Volkenant, Director of APS Financial Services certify that these cashflow calculations utilize the Company's approach to estimating cash flows for internal management reports and planning purposes. The 1995 and 1996 cashflows agree as appropriate with the Company's Audited Annual Reports. The 1997 estimate of cashflows is based on the 1997 Company Budg /The 1997 estimate does not reflect actua results to date, as the Budget is not revised to refl c anging condi 'ons.

G olkena Dir ctor, Fin nci Services, APS H.'ISNSSRVC%EOUESPCSHFLPROJCS

7 P