PINNACLE WEST CAPITAL CORP

For the period ended Dec 31, 2024. Filed Feb 25, 2025.

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.

FY2024 · Filed Feb 25, 2025

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

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Contents

APS Financial Statements

CONSOLIDATED STATEMENTS OF INCOME

	Year Ended December 31,
	2024	2023	2022
OPERATING REVENUES (Note 2)	$5,124,915	$4,695,991	$4,324,385
OPERATING EXPENSES
Fuel and purchased power	1,822,566	1,792,657	1,629,343
Operations and maintenance	1,158,634	1,043,570	974,220
Depreciation and amortization	895,171	793,958	753,110
Taxes other than income taxes	227,307	223,962	220,277
Other expense	2,389	1,913	2,494
Total	4,106,067	3,856,060	3,579,444
OPERATING INCOME	1,018,848	839,931	744,941
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction (Note 1)	38,620	53,118	45,263
Pension and other postretirement non-service credits, net (Note 7)	49,489	41,577	98,945
Other income (Note 16)	21,094	27,072	5,888
Other expense (Note 16)	(29,698)	(18,264)	(26,108)
Total	79,505	103,503	123,988
INTEREST EXPENSE
Interest charges	360,481	323,719	262,815
Allowance for borrowed funds used during construction (Note 1)	(48,270)	(39,030)	(26,839)
Total	312,211	284,689	235,976
INCOME BEFORE INCOME TAXES	786,142	658,745	632,953
INCOME TAXES (Note 4)	126,993	94,184	90,800
NET INCOME	659,149	564,561	542,153
Less: Net income attributable to noncontrolling interests (Note 17)	17,224	17,224	17,224
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDER	$641,925	$547,337	$524,929

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.