PINNACLE WEST CAPITAL CORPORATION PNW Income Statement

Pinnacle west capital corporation (PNW)

Income statement / TTM

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
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,610	3,307	0	0	0
Other revenues
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18	23	0	0	0
OPERATING REVENUES (NOTE 2)
3,392	3,471	3,557	3,634	3,739	3,691	3,694	3,609	3,580	3,565	3,544	3,528	3,499	3,498	3,493	3,526	3,501	3,495	3,487	3,460	3,476	3,491	3,464	3,444	3,454	3,454	3,447	3,405	3,367	3,301	3,276	3,291	3,213	3,241	3,222	3,214	3,217	3,189	3,628	3,330	0	0	0
OPERATING EXPENSES
Fuel and purchased power
1,000	1,042	1,049	1,094	1,109	1,076	1,047	968	966	981	1,020	1,046	1,066	1,075	1,064	1,092	1,099	1,101	1,125	1,143	1,153	1,179	1,159	1,128	1,114	1,095	1,070	1,022	1,009	994	999	1,034	1,013	1,009	1,019	1,035	1,043	1,046	1,202	1,140	0	0	0
Operations and maintenance
917	941	967	975	1,016	1,036	1,051	1,036	988	949	906	893	914	931	925	927	896	868	906	909	910	908	886	896	914	924	923	910	897	884	876	865	859	904	904	914	917	870	839	835	0	0	0
Depreciation and amortization
596	590	591	588	586	582	583	571	551	534	510	496	493	485	488	493	492	494	476	454	436	417	408	412	413	415	420	413	407	404	408	414	420	427	426	424	420	414	410	407	0	0	0
Taxes other than income taxes
220	218	218	215	214	212	209	203	194	184	173	170	167	166	168	170	171	171	171	168	169	172	170	173	169	164	163	156	156	159	155	153	152	147	146	149	141	135	134	130	0	0	0
Other expenses
6	5	2	3	9	9	9	12	6	6	6	3	3	3	4	5	4	4	3	2	3	2	4	5	6	7	7	6	5	6	7	7	7	6	2	2	2	7	14	18	0	0	0
Total
2,740	2,799	2,830	2,877	2,936	2,917	2,902	2,791	2,706	2,655	2,618	2,610	2,646	2,663	2,650	2,689	2,664	2,640	2,682	2,679	2,672	2,680	2,629	2,615	2,619	2,608	2,584	2,509	2,477	2,450	2,447	2,475	2,454	2,494	2,499	2,526	2,524	2,474	2,602	2,532	0	0	0
OPERATING INCOME
652	671	726	756	802	773	792	818	873	909	926	918	852	835	843	836	837	854	804	781	803	811	834	828	834	846	863	895	890	851	829	816	758	746	723	688	692	714	1,026	798	0	0	0
OTHER INCOME (DEDUCTIONS)
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity
27	31	37	43	49	52	53	54	51	47	43	41	41	42	40	37	36	35	35	34	32	30	28	27	26	25	25	25	24	22	20	22	23	23	24	22	22	22	18	17	0	0	0
Pension and Other Postretirement Benefits Cost (Reversal of Cost)
-31	-22	-29	-36	-42	-49	-42	-36	-31	-24	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income (Note 9)
55	50	42	34	28	24	19	13	7	4	2	1	1	0	0	0	0	0	2	4	7	9	7	5	3	1	1	1	1	1	1	1	2	3	1	5	5	6	11	13	0	0	0
Other expense (Note 9)
18	17	20	19	19	17	21	21	21	21	15	15	14	15	17	17	17	17	24	23	21	21	11	15	16	16	20	19	19	19	14	12	12	10	5	6	8	9	14	14	0	0	0
Total
97	86	89	95	100	109	94	83	69	54	70	60	53	48	23	20	19	18	12	15	18	18	24	17	12	11	6	8	6	4	7	11	12	16	20	21	19	18	16	17	0	0	0
INTEREST EXPENSE
Interest charges
233	235	237	241	245	243	238	232	226	219	213	208	206	205	203	201	197	194	194	192	196	200	202	205	205	201	203	205	207	214	220	230	237	241	245	243	244	244	242	241	0	0	0
Allowance for borrowed funds used during construction
15	18	20	23	25	25	25	25	24	22	20	18	19	19	27	26	25	16	30	23	15	15	-15	-14	-14	-14	-15	-15	-15	-14	-14	-17	-17	-18	-18	-17	-17	-16	-13	-10	0	0	0
Total
217	216	216	218	220	218	212	206	202	197	192	190	187	185	184	183	180	178	178	176	180	185	187	191	190	187	188	189	191	199	206	213	219	223	226	226	227	227	228	230	0	0	0
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest
531	542	599	633	682	664	673	695	740	766	804	788	719	697	681	673	676	693	639	620	641	644	671	655	656	670	681	714	705	656	630	614	551	539	516	484	484	505	814	584	0	0	0
INCOME TAXES
-38	-15	79	110	137	133	147	207	252	258	264	261	238	236	231	230	231	237	219	215	222	220	224	222	224	230	239	254	254	237	226	210	184	183	170	161	162	160	276	194	0	0	0
INCOME FROM CONTINUING OPERATIONS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	418	403	404	366	355	346	322	322	344	538	389	0	0	0
Net of income tax benefit of $(3,813) (Note 1)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5	-1	8	9	11	13	13	38	25	10	-7	0	0	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
569	557	519	522	545	530	526	487	487	507	539	526	480	461	449	443	444	456	419	405	419	423	446	433	431	439	437	455	446	413	402	412	376	366	359	335	361	370	548	382	0	0	0
Less: Net income attributable to noncontrolling interests (Note 6)
19	19	19	19	19	19	19	19	19	19	19	19	19	19	19	19	19	18	18	17	21	26	30	34	34	33	33	32	32	31	31	30	29	27	25	22	20	20	19	18	0	0	0
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS
550	538	500	503	525	511	506	467	468	488	520	507	460	442	429	423	425	437	401	388	397	397	416	398	397	406	404	423	414	381	371	382	346	339	334	312	340	350	529	363	0	0	0
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - BASIC (in shares)
112	112	112	112	112	112	112	112	112	111	111	111	111	111	111	111	111	111	111	110	110	110	110	110	110	110	110	109	109	109	109	109	109	109	109	109	108	108	108	107	101	101	101
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in shares)
112	112	112	112	112	112	112	112	112	112	112	112	112	112	112	112	111	111	111	111	111	111	111	111	110	110	111	110	110	111	110	110	109	111	109	109	108	110	109	107	101	101	101
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
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	387	372	373	336	328	320	299	301	324	518	370	0	0	0
Discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5	-1	8	9	11	13	13	38	25	11	-6	0	0	0
Net income attributable to common shareholders
550	538	500	503	525	511	506	467	468	488	729	575	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	0	-	-	371	382	346	339	334	312	340	350	529	363	0	0	0
Arizona Public Service Company [Member]
OPERATING REVENUES (NOTE 2)
3,392	3,471	3,557	3,634	3,736	3,688	3,689	3,600	3,572	3,557	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fuel and purchased power
1,000	1,042	1,049	1,094	1,122	1,094	1,068	987	977	992	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operations and maintenance
904	926	936	927	955	969	993	989	953	917	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
596	590	591	588	585	580	581	568	549	532	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes other than income taxes
220	218	218	215	213	212	251	245	236	183	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes other than income taxes
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expenses
6	5	2	3	2	2	4	5	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total
2,727	2,784	2,798	2,828	2,879	2,858	2,854	2,753	2,679	2,633	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
OPERATING INCOME
665	686	758	805	857	829	834	847	892	924	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity
27	31	37	43	49	52	53	54	51	47	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pension and Other Postretirement Benefits Cost (Reversal of Cost)
-33	-24	-31	-37	-43	-51	-43	-37	-31	-24	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income (Note 9)
52	46	39	30	25	22	17	12	6	3	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expense (Note 9)
13	12	15	16	16	15	14	13	13	13	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total
99	89	92	96	102	111	99	89	75	60	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest charges
219	220	223	227	231	231	228	223	219	214	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Allowance for borrowed funds used during construction
15	18	20	23	25	25	25	25	24	22	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total
203	201	202	204	206	206	202	197	195	192	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest
561	575	648	697	752	734	731	738	772	792	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
INCOME TAXES
-30	-9	87	116	144	144	158	219	262	269	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
591	584	561	580	608	589	573	518	510	523	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: Net income attributable to noncontrolling interests (Note 6)
19	19	19	19	19	19	19	19	19	19	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS
572	565	541	561	588	570	553	499	490	504	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-