Southwestern Bell Telephone Co. v. Arkansas Public Service Commission

Donald L. Corbin, Chief Judge.

On December 17, 1986, this court reversed and remanded a decision of the Arkansas Public Service Commission because of the Commission’s inconsistent treatment of investment tax credits (ITC) and accumulated deferred income taxes (ADIT) in its calculation of appellant’s cost of capital. Southwestern Bell Tel. Co. v. Arkansas Pub. Serv. Comm’n, 19 Ark. App. 322, 720 S.W.2d 924 (1986). On March 17, 1987, a hearing was held by the Commission pursuant to our remand, after which the Commission adopted a capital structure calculation which resulted in a reduction of…