PINNACLE WEST CAPITAL CORPORATION PNW Income Statement

Pinnacle west capital corporation (PNW)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
OPERATING REVENUES
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,116,211	799,416	611,425	1,083,750	812,510
Other revenues
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	499	3,379	8,930	5,286	6,078
OPERATING REVENUES (NOTE 2)
661,930	670,391	1,190,787	869,501	740,530	756,376	1,268,034	974,123	692,714	759,659	1,183,322	944,587	677,728	739,199	1,166,922	915,394	677,167	734,430	1,199,146	890,648	671,219	726,450	1,172,667	906,264	686,251	699,762	1,152,392	915,822	686,652	693,122	1,109,475	878,576	620,631	667,892	1,124,841	799,799	648,847	649,339	1,116,710	802,795	620,355	1,089,036	818,588
OPERATING EXPENSES
Fuel and purchased power
188,521	224,565	344,862	242,222	230,588	231,983	389,936	257,087	197,110	203,826	310,469	254,611	212,395	243,257	336,120	274,848	221,285	232,737	363,847	281,477	223,237	256,828	382,361	290,854	249,786	236,493	350,953	277,584	230,679	210,864	302,894	264,723	216,309	215,512	337,896	244,049	212,007	225,571	353,904	251,800	215,540	381,543	291,699
Operations and maintenance
221,318	229,857	238,582	227,543	245,634	256,120	246,545	268,397	265,682	271,212	230,839	220,985	226,071	228,650	217,568	242,279	243,195	222,019	220,449	210,965	214,944	260,503	223,418	211,222	212,882	238,854	233,323	229,300	223,250	237,141	220,729	216,236	210,663	228,632	210,035	210,590	255,029	229,076	219,658	213,609	207,842	198,030	215,545
Depreciation and amortization
154,079	145,398	149,450	147,374	148,707	146,122	145,971	145,436	144,825	146,840	133,912	125,739	127,627	122,852	120,428	123,073	119,476	125,109	125,625	122,739	120,949	106,776	103,660	105,150	101,772	98,298	107,388	106,292	103,730	103,268	100,353	100,606	100,109	107,504	106,350	106,617	106,583	106,654	104,177	102,995	100,653	103,008	100,980
Taxes other than income taxes
56,768	54,590	53,809	55,090	55,090	54,267	51,375	53,607	53,600	51,053	45,169	44,289	43,836	40,597	41,284	42,117	42,501	42,323	43,241	43,032	43,216	41,596	40,850	44,004	45,845	40,076	43,256	40,814	40,021	39,052	36,507	41,289	42,475	35,406	34,223	40,155	37,624	34,394	37,528	31,682	31,724	34,015	32,766
Other expenses
822	3,984	794	683	427	1,000	900	7,434	163	1,181	3,385	1,706	388	1,400	264	1,329	548	2,408	873	462	1,189	563	603	921	796	2,141	1,784	2,020	2,049	1,508	1,022	1,233	3,068	2,123	1,320	1,396	1,820	-1,913	1,169	1,325	6,928	5,033	5,704
Total
621,508	658,394	787,497	672,912	680,446	689,492	834,727	731,961	661,380	674,112	723,774	647,330	610,317	636,756	715,664	683,646	627,005	624,596	754,035	658,675	603,535	666,266	750,892	652,151	611,081	615,862	736,704	656,010	599,729	591,833	661,505	624,087	572,624	589,177	689,824	602,807	613,063	593,782	716,436	601,411	562,687	721,629	646,694
OPERATING INCOME
40,422	11,997	403,290	196,589	60,084	66,884	433,307	242,162	31,334	85,547	459,548	297,257	67,411	102,443	451,258	231,748	50,162	109,834	445,111	231,973	67,684	60,184	421,775	254,113	75,170	83,900	415,688	259,812	86,923	101,289	447,970	254,489	48,007	78,715	435,017	196,992	35,784	55,557	400,274	201,384	57,668	367,407	171,894
OTHER INCOME (DEDUCTIONS)
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity
7,697	6,754	5,917	7,572	11,188	12,908	12,259	13,073	14,079	14,345	12,728	10,456	9,482	11,061	10,194	10,369	10,516	9,001	7,645	9,345	9,224	8,811	7,038	7,499	7,442	6,883	5,569	6,265	6,864	6,797	5,708	5,175	4,756	5,010	7,378	5,924	5,395	5,649	5,524	5,504	5,389	2,197	4,730
Pension and Other Postretirement Benefits Cost (Reversal of Cost)
-13,911	-5,749	-5,752	-6,374	-5,114	-12,477	-12,449	-12,006	-12,859	-5,063	-6,534	-6,972	-6,095	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income (Note 9)
12,569	15,018	15,191	12,885	7,169	7,355	6,958	6,598	3,985	1,951	1,091	484	480	516	71	197	117	72	139	175	235	2,094	2,366	2,781	2,367	317	160	469	758	249	420	177	760	423	441	557	1,690	-925	4,261	943	2,108	4,386	6,252
Other expense (Note 9)
4,784	3,432	5,740	4,350	4,358	5,903	5,063	3,771	3,229	9,044	4,993	3,822	3,680	3,252	5,205	2,842	4,038	5,390	5,538	2,609	4,286	12,361	4,193	508	4,684	2,603	7,435	2,234	3,752	7,409	5,696	2,669	4,068	2,472	3,052	3,186	1,741	-2,319	3,894	5,650	2,696	1,934	4,187
Total
29,393	24,089	21,120	22,481	19,113	26,837	26,603	27,906	27,694	12,315	15,360	14,090	12,377	28,698	5,060	7,724	6,595	3,683	2,246	6,911	5,173	-1,456	5,211	9,772	5,125	4,597	-1,706	4,500	3,870	-363	432	2,683	1,448	2,961	4,767	3,295	5,344	7,043	5,891	797	4,801	4,649	6,795
INTEREST EXPENSE
Interest charges
59,234	59,652	57,481	57,465	60,653	62,198	61,605	60,708	58,954	57,319	55,644	54,969	51,864	50,834	51,293	52,849	50,744	48,895	49,342	48,328	48,399	48,604	47,626	51,751	52,969	50,516	50,587	51,307	49,478	52,407	52,242	53,000	56,967	58,744	62,034	60,140	61,077	62,299	60,419	60,751	60,705	60,299	59,884
Allowance for borrowed funds used during construction
4,076	3,883	3,486	4,494	6,665	6,221	5,913	6,291	6,755	6,734	6,000	4,906	4,472	5,121	4,321	5,301	5,227	12,635	3,518	4,322	-4,216	26,496	-3,479	-3,790	-3,770	-4,000	-3,235	-3,636	-3,990	-4,543	-3,830	-3,447	-3,151	-3,987	-6,939	-3,856	-3,576	-4,197	-6,163	-3,072	-3,047	-1,349	-3,225
Total
55,158	55,769	53,995	52,971	53,988	55,977	55,692	54,417	52,199	50,585	49,644	50,063	47,392	45,713	46,972	47,548	45,517	44,692	45,824	44,006	44,183	44,186	44,147	47,961	49,199	46,516	47,352	47,671	45,488	47,864	48,412	49,553	53,816	54,757	55,095	56,284	57,501	58,102	54,256	57,679	57,658	58,950	56,659
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest
14,657	-19,683	370,415	166,099	25,209	37,744	404,218	215,651	6,829	47,277	425,264	261,284	32,396	85,428	409,346	191,924	11,240	68,825	401,533	194,878	28,674	14,542	382,839	215,924	31,096	41,981	366,630	216,641	45,305	53,062	399,990	207,619	-4,361	26,919	384,689	144,003	-16,373	4,498	351,909	144,502	4,811	313,106	122,030
INCOME TAXES
-20,209	-88,537	53,266	17,080	2,418	6,795	84,333	44,039	-1,265	20,775	144,319	88,967	4,211	27,309	141,446	65,742	1,914	22,847	139,555	67,371	7,947	5,007	134,753	74,540	6,405	9,167	131,912	77,043	12,469	18,157	147,116	76,689	-4,645	7,375	131,416	50,818	-6,005	-5,494	122,347	51,188	-7,172	109,778	41,000
INCOME FROM CONTINUING OPERATIONS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	139,598	-	34,905	252,874	130,930	284	19,544	253,273	93,185	-10,368	9,992	229,562	93,314	11,983	203,328	81,030
Net of income tax benefit of $(3,813) (Note 1)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,234	-11	-819	-765	446	9,512	654	694	2,509	9,477	26,252	-12,880	-12,305	-8,184
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
34,866	68,854	317,149	149,019	22,791	30,949	319,885	171,612	8,094	26,502	280,945	172,317	28,185	58,119	267,900	126,182	9,326	45,978	261,978	127,507	20,727	9,535	248,086	141,384	24,691	32,814	234,718	139,598	32,836	30,671	252,863	130,111	-481	19,990	262,785	93,839	-9,674	12,501	239,039	119,566	-897	191,023	72,846
Less: Net income attributable to noncontrolling interests (Note 6)
4,873	4,873	4,873	4,874	4,873	4,873	4,873	4,874	4,873	4,873	4,873	4,874	4,873	4,873	4,873	4,874	4,873	4,861	4,862	4,605	4,605	4,125	4,125	8,926	8,925	8,554	8,555	8,391	8,392	8,040	8,040	7,766	7,776	7,426	7,426	7,154	5,461	5,151	5,119	4,769	5,117	4,371	4,499
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS
29,993	63,981	312,276	144,145	17,918	26,076	315,012	166,738	3,221	21,629	276,072	167,443	23,312	53,246	263,027	121,308	4,453	41,117	257,116	122,902	16,122	5,410	243,961	132,458	15,766	24,260	226,163	131,207	24,444	22,631	244,823	122,345	-8,257	12,564	255,359	86,685	-15,135	7,350	233,920	114,797	-6,014	186,652	68,347
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - BASIC (in shares)
112,594	112,635	112,463	112,337	112,337	112,236	112,148	112,115	112,017	111,996	111,835	111,797	111,728	111,556	111,416	111,368	111,296	111,166	111,036	110,986	110,916	110,996	110,686	110,565	110,257	110,133	110,009	109,962	109,832	109,695	109,555	109,491	109,299	109,208	109,128	109,044	108,832	108,831	108,632	107,355	101,474	101,223	101,109
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in shares)
112,862	112,900	112,746	112,651	112,735	112,703	112,533	112,471	112,493	112,527	112,401	112,345	112,195	112,233	112,100	112,004	111,847	111,755	111,616	111,460	111,377	111,719	111,103	111,002	110,888	110,404	111,053	110,932	110,835	111,795	110,655	110,359	109,299	111,045	109,861	109,718	108,832	110,219	109,094	107,764	101,474	101,385	101,193
Earnings Per Share [Abstract]
Income from continuing operations attributable to common shareholders basic (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.19	-	0.26	2.23	1.12	-0.07	0.12	2.25	0.79	-0.15	0.09	2.07	0.82	0.07	1.96	0.76
Net income attributable to common shareholders - basic (in dollars per share)
0.27	0.57	2.78	1.28	0.16	0.23	2.81	1.49	0.03	0.19	2.47	1.50	0.21	0.48	2.36	1.09	0.04	0.36	2.32	1.11	0.15	0.05	2.20	1.20	0.14	0.22	2.06	1.19	0.22	0.21	2.23	1.12	-0.08	0.11	2.34	0.80	-0.14	0.12	2.15	1.07	-0.06	1.84	0.68
Income from continuing operations attributable to common shareholders diluted (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.18	-	0.24	2.21	1.12	-0.07	0.12	2.24	0.78	-0.15	0.08	2.06	0.82	0.07	1.96	0.75
Net income attributable to common shareholders - diluted (in dollars per share)
0.27	0.56	2.77	1.28	0.16	0.23	2.80	1.48	0.03	0.19	2.46	1.49	0.21	0.48	2.35	1.08	0.04	0.38	2.30	1.10	0.14	0.05	2.20	1.19	0.14	0.22	2.04	1.18	0.22	0.21	2.21	1.11	-0.08	0.12	2.32	0.79	-0.14	0.12	2.14	1.07	-0.06	1.84	0.68
DIVIDENDS DECLARED PER SHARE (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	1.31	-	-	0.00	1.25	-	-	0.00	1.19	-	-	-	1.14	-	-	-	1.09	-	-	0.00	1.05	0.52	-	0.00	1.05	0.52	0.52	0.00	1.05	0.52	0.52	0.52
AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS:
Income from continuing operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	131,207	-	26,865	244,834	123,164	-7,483	12,109	245,838	86,001	-15,838	4,863	224,434	88,536	6,855	198,375	76,379
Discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,234	-11	-819	-774	455	9,521	684	703	2,487	9,486	26,261	-12,869	-11,723	-8,032
Net income attributable to common shareholders
29,993	63,981	312,276	144,145	17,918	26,076	315,012	166,738	3,221	21,629	276,072	167,443	23,312	-	263,027	121,308	-	-	-	-	-	-	-	-	-	-	-	131,207	-	-	244,823	122,345	-8,257	12,564	255,359	86,685	-15,135	7,350	233,920	114,797	-6,014	186,652	68,347
Arizona Public Service Company [Member]
OPERATING REVENUES (NOTE 2)
661,930	670,391	1,190,787	869,501	740,530	756,376	1,267,997	971,963	692,006	757,811	1,178,846	943,406	677,589	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fuel and purchased power
188,521	224,565	344,862	242,222	230,588	231,983	389,889	270,138	202,010	206,703	309,045	259,892	217,104	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operations and maintenance
218,265	226,758	235,440	224,143	240,375	236,281	226,346	251,999	254,601	260,826	222,374	215,775	219,008	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
154,058	145,377	149,428	147,354	148,685	146,100	145,949	144,533	144,112	146,412	133,486	125,317	127,208	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes other than income taxes
56,758	54,583	53,798	55,081	55,078	54,259	51,366	53,269	53,242	93,904	44,898	44,016	436	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes other than income taxes
-	-	-	-	-	-	-	-	-	-	-	-	43,564	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expenses
822	3,984	794	683	427	1,000	900	434	163	-	3,385	1,706	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total
618,424	655,267	784,322	669,483	675,153	669,623	814,450	720,373	654,128	665,899	713,188	646,706	607,320	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
OPERATING INCOME
43,506	15,124	406,465	200,018	65,377	86,753	453,547	251,590	37,878	91,912	465,658	296,700	70,269	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity
7,697	6,754	5,917	7,572	11,188	12,908	12,259	13,073	14,079	14,345	12,728	10,456	9,482	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pension and Other Postretirement Benefits Cost (Reversal of Cost)
-14,262	-6,140	-6,133	-6,757	-5,499	-12,844	-12,812	-12,389	-13,197	-4,941	-6,477	-6,911	-6,042	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income (Note 9)
11,633	14,243	14,534	11,691	6,416	6,586	6,153	6,235	3,772	1,581	738	352	342	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expense (Note 9)
4,668	2,858	2,826	3,428	3,878	5,614	3,361	3,372	2,945	5,306	2,178	3,301	3,128	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total
28,924	24,279	23,758	22,592	19,225	26,724	27,863	28,325	28,103	15,561	17,765	14,418	12,738	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest charges
55,736	56,106	53,812	53,591	56,665	58,951	58,551	57,731	56,158	56,090	53,760	53,517	50,796	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Allowance for borrowed funds used during construction
4,076	3,883	3,486	4,494	6,665	6,221	5,913	6,291	6,755	6,734	6,000	4,906	4,472	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total
51,660	52,223	50,326	49,097	50,000	52,730	52,638	51,440	49,403	49,356	47,760	48,611	46,324	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest
20,770	-12,820	379,897	173,513	34,602	60,747	428,772	228,475	16,578	58,117	435,663	262,507	36,683	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
INCOME TAXES
-19,448	-85,642	56,154	18,463	1,453	11,399	85,533	45,776	2,106	25,461	146,534	88,525	8,648	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
40,218	72,822	323,743	155,050	33,149	49,348	343,239	182,699	14,472	32,656	289,129	173,982	28,035	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: Net income attributable to noncontrolling interests (Note 6)
4,873	4,873	4,873	4,874	4,873	4,873	4,873	4,874	4,873	4,873	4,873	4,874	4,873	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS
35,345	67,949	318,870	150,176	28,276	44,475	338,366	177,825	9,599	27,783	284,256	169,108	23,162	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-