ARIZONA PUBLIC SERVICE CO
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
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Pinnacle West Consolidated Statements of Changes in Equity for
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(dollars in thousands, except per share amounts)
| Common Stock · Treasury Stock · Retained Earnings · Accumulated Other Comprehensive Income (Loss) · Noncontrolling Interests · Total | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount | ||||||||||||||||||||
| Balance, December 31, 2022 | 113,247,189 | $2,724,740 | (73,613) | $(5,005) | $3,360,347 | $(31,435) | $111,229 | $6,159,876 | ||||||||||||
| Net income | — | — | 501,557 | — | 17,224 | 518,781 | ||||||||||||||
| Other comprehensive loss | — | — | — | (1,709) | — | (1,709) | ||||||||||||||
| Dividends on common stock ($3.49 per share) | — | — | (395,585) | — | — | (395,585) | ||||||||||||||
| Issuance of common stock | 290,500 | 27,936 | — | — | — | — | 27,936 | |||||||||||||
| Purchase of treasury stock (a) | — | (72,180) | (5,466) | — | — | — | (5,466) | |||||||||||||
| Reissuance of treasury stock for stock-based compensation and other | — | 32,521 | 2,287 | — | — | — | 2,287 | |||||||||||||
| Capital activities by noncontrolling interests | — | — | — | — | (21,255) | (21,255) | ||||||||||||||
| Other | — | (1) | (2) | — | — | (3) | ||||||||||||||
| Balance, December 31, 2023 | 113,537,689 | 2,752,676 | (113,272) | (8,185) | 3,466,317 | (33,144) | 107,198 | 6,284,862 | ||||||||||||
| Net income | — | — | 608,806 | — | 17,224 | 626,030 | ||||||||||||||
| Other comprehensive income | — | — | — | 2,202 | — | 2,202 | ||||||||||||||
| Dividends on common stock ($3.55 per share) | — | — | (408,162) | — | — | (408,162) | ||||||||||||||
| Issuance of common stock (b) | 5,606,093 | 368,941 | — | — | — | — | 368,941 | |||||||||||||
| Purchase of treasury stock (a) | — | (71,008) | (4,907) | — | — | — | (4,907) | |||||||||||||
| Reissuance of treasury stock for stock-based compensation and other | — | 137,312 | 9,768 | — | — | — | 9,768 | |||||||||||||
| Capital activities by noncontrolling interests | — | — | — | — | (21,255) | (21,255) | ||||||||||||||
| Other | — | 1 | (2) | — | — | (1) | ||||||||||||||
| Balance, December 31, 2024 | 119,143,782 | 3,121,617 | (46,968) | (3,323) | 3,666,959 | (30,942) | 103,167 | 6,857,478 | ||||||||||||
| Net income | — | — | 616,531 | — | 15,112 | 631,643 | ||||||||||||||
| Other comprehensive loss | — | — | — | (1,466) | — | (1,466) | ||||||||||||||
| Dividends on common stock ($3.61 per share) | — | — | (432,671) | — | — | (432,671) | ||||||||||||||
| Issuance of common stock (b) | 1,807,057 | 109,755 | — | — | — | 109,755 | ||||||||||||||
| Capital activities by noncontrolling interests | — | — | — | — | (18,041) | (18,041) | ||||||||||||||
| Deconsolidation of noncontrolling interests (c) | — | — | — | — | (59,621) | (59,621) | ||||||||||||||
| Other | — | — | (2) | — | — | (2) | ||||||||||||||
| Balance, December 31, 2025 | 120,950,839 | $3,231,372 | (46,968) | $(3,323) | $3,850,817 | $(32,408) | $40,617 | $7,087,075 | ||||||||||||
(a)Primarily represents shares of common stock withheld from certain stock awards for tax purposes.
(b)See Note 16 for information related to our equity forward sale agreements.
(c)See Note 12 for information related to the Palo Verde sale leaseback purchases.
MANAGEMENT’S REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING
(ARIZONA PUBLIC SERVICE COMPANY)
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.