ARIZONA PUBLIC SERVICE CO

For the period ended Dec 31, 2025. Filed Feb 25, 2026.

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.

FY2025 · Filed Feb 25, 2026

PNW$105.96+0.7%Stored close · as of Nov 10, 2026

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Contents

Arizona Public Service Company Financial Statements

CONSOLIDATED STATEMENTS OF INCOME

	Year Ended December 31,
	2025	2024	2023
OPERATING REVENUES (Note 4)	$5,339,939	$5,124,915	$4,695,991
OPERATING EXPENSES
Fuel and purchased power	1,933,420	1,822,566	1,792,657
Operations and maintenance	1,177,089	1,158,634	1,043,570
Depreciation and amortization	915,275	895,171	793,958
Taxes other than income taxes	234,733	227,307	223,962
Other expense	3,684	2,389	1,913
Total	4,264,201	4,106,067	3,856,060
OPERATING INCOME	1,075,738	1,018,848	839,931
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction (Note 1)	61,146	38,620	53,118
Pension and other postretirement non-service credits, net (Note 9)	13,365	49,489	41,577
Other income (Note 15)	16,214	21,094	27,072
Other expense (Note 15)	(26,382)	(29,698)	(18,264)
Total	64,343	79,505	103,503
INTEREST EXPENSE
Interest charges	379,468	360,481	323,719
Allowance for borrowed funds used during construction (Note 1)	(47,733)	(48,270)	(39,030)
Total	331,735	312,211	284,689
Income Before Income Taxes	808,346	786,142	658,745
Income Taxes (Note 5)	125,919	126,993	94,184
NET INCOME	682,427	659,149	564,561
Less: Net income attributable to noncontrolling interests (Note 12)	15,112	17,224	17,224
Net Income Attributable to Common Shareholder	$667,315	$641,925	$547,337

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.