PINNACLE WEST CAPITAL CORP

For the period ended Dec 31, 2023. Filed Feb 27, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 27, 2024

PNW$105.26+1.0%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

APS Financial Statements

CONSOLIDATED STATEMENTS OF INCOME

	Year Ended December 31,
	2023	2022	2021
OPERATING REVENUES (Note 2)	$4,695,991	$4,324,385	$3,803,835
OPERATING EXPENSES
Fuel and purchased power	1,792,657	1,629,343	1,152,551
Operations and maintenance	1,043,570	974,220	940,588
Depreciation and amortization	793,958	753,110	650,773
Taxes other than income taxes	223,962	220,277	234,569
Other expense	1,913	2,494	6,393
Total	3,856,060	3,579,444	2,984,874
OPERATING INCOME	839,931	744,941	818,961
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction (Note 1)	53,118	45,263	41,737
Pension and other postretirement non-service credits, net (Note 7)	41,577	98,945	112,742
Other income (Note 16)	27,072	5,888	43,053
Other expense (Note 16)	(18,264)	(26,108)	(18,897)
Total	103,503	123,988	178,635
INTEREST EXPENSE
Interest charges	323,719	262,815	243,592
Allowance for borrowed funds used during construction (Note 1)	(39,030)	(26,839)	(21,052)
Total	284,689	235,976	222,540
INCOME BEFORE INCOME TAXES	658,745	632,953	775,056
INCOME TAXES (Note 4)	94,184	90,800	125,553
NET INCOME	564,561	542,153	649,503
Less: Net income attributable to noncontrolling interests (Note 17)	17,224	17,224	17,224
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDER	$547,337	$524,929	$632,279

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.