PINNACLE WEST CAPITAL CORP
For the period ended Mar 31, 2025. Filed May 1, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 1, 2025
PNW$105.96+0.7%Stored close · as of Nov 10, 2026
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APS Condensed Consolidated Statements of Cash Flows for
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $4,585 | $19,423 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization including nuclear fuel | 250,634 | 226,392 |
| Deferred fuel and purchased power | (25,228) | (33,094) |
| Deferred fuel and purchased power amortization | 84,789 | 108,552 |
| Allowance for equity funds used during construction | (13,249) | (10,292) |
| Deferred income taxes | (123) | 2,071 |
| Deferred investment tax credit | 36 | (294) |
| Changes in current assets and liabilities: | ||
| Customer and other receivables | 94,051 | 84,357 |
| Accrued unbilled revenues | 134 | 1,074 |
| Materials, supplies and fossil fuel | (2,770) | 4,374 |
| Income tax receivable | 5,421 | — |
| Other current assets | (15,028) | 3,516 |
| Accounts payable | 52,351 | 26,328 |
| Accrued taxes | 56,040 | 59,745 |
| Other current liabilities | (61,892) | (82,478) |
| Change in long-term regulatory assets | 17,614 | 9,850 |
| Change in long-term regulatory liabilities | 12,033 | 16,493 |
| Change in other long-term assets | (30,585) | (51,555) |
| Change in operating lease assets | 3,858 | (8,479) |
| Change in other long-term liabilities | (26,322) | (19,584) |
| Change in operating lease liabilities | 2,325 | 9,581 |
| Net cash provided by operating activities | 408,674 | 365,980 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Capital expenditures | (622,552) | (517,756) |
| Contributions in aid of construction | 51,244 | 69,047 |
| Allowance for borrowed funds used during construction | (10,102) | (13,141) |
| Proceeds from nuclear decommissioning trusts sales and other special use funds | 460,538 | 443,870 |
| Investment in nuclear decommissioning trusts and other special use funds | (461,109) | (443,854) |
| Other | (1,467) | (51) |
| Net cash used for investing activities | (583,448) | (461,885) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Short-term borrowing and (repayments) - net | 286,700 | 200,650 |
| Dividends paid on common stock | (107,200) | (99,800) |
| Net cash provided by financing activities | 179,500 | 100,850 |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 4,726 | 4,945 |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 3,815 | 4,549 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $8,541 | $9,494 |
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