TUCSON ELECTRIC POWER CO Financial Statements (2026 and earlier)
Company Profile
| Business Address |
88 EAST BROADWAY TUCSON, AZ 85701 |
| State of Incorp. | AZ |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4911 - Electric Services (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 6/30/2025 MRQ | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 14 | 9 | 16 | 10 | 61 | 10 | |||
| Cash and cash equivalent | 14 | 9 | 16 | 10 | 61 | 10 | |||
| Receivables | 196 | 217 | 347 | 210 | 182 | 163 | |||
| Inventory, net of allowances, customer advances and progress billings | 197 | 173 | 156 | 142 | 127 | 122 | |||
| Inventory | 197 | 173 | 156 | 142 | 127 | 122 | |||
| Derivative instruments and hedges, assets | 10 | 3 | 27 | 19 | 16 | 4 | |||
| Regulatory asset | 98 | 147 | 185 | 116 | 124 | 138 | |||
| Other current assets | 32 | 30 | 31 | 24 | 24 | 21 | |||
| Other undisclosed current assets | 55 | 34 | 3 | 10 | 13 | 16 | |||
| Total current assets: | 601 | 614 | 764 | 531 | 547 | 473 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 4 | 5 | |||||||
| Property, plant and equipment | (2,713) | (2,570) | 8,070 | 8,119 | 7,701 | ||||
| Intangible assets, net (including goodwill) | 101 | 94 | |||||||
| Intangible assets, net (excluding goodwill) | 101 | 94 | |||||||
| Derivative instruments and hedges | 28 | 32 | 77 | 14 | 1 | 3 | |||
| Regulated entity, other noncurrent assets | 198 | 202 | 185 | 268 | 318 | 327 | |||
| Other noncurrent assets | 153 | 134 | 124 | 94 | 93 | 89 | |||
| Other undisclosed noncurrent assets | 9,151 | 8,463 | (2,530) | (2,705) | (2,569) | ||||
| Total noncurrent assets: | 6,920 | 6,360 | 5,926 | 5,790 | 5,543 | 419 | |||
| Other undisclosed assets | 4,597 | ||||||||
| TOTAL ASSETS: | 7,522 | 6,974 | 6,690 | 6,322 | 6,090 | 5,489 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 269 | 250 | 346 | 245 | 211 | 228 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | ✕ | 16 | 16 | 17 | ||
| Taxes payable | ✕ | ✕ | ✕ | ✕ | 54 | 50 | 43 | ||
| Employee-related liabilities | ✕ | ✕ | ✕ | ✕ | 36 | 35 | 33 | ||
| Accounts payable | 151 | 137 | 234 | 139 | 109 | 136 | |||
| Accrued liabilities | 118 | 113 | 112 | ||||||
| Deferred revenue | 16 | 16 | 14 | 13 | 16 | 25 | |||
| Debt | 70 | 15 | 98 | ||||||
| Derivative instruments and hedges, liabilities | 26 | 26 | 13 | 16 | 28 | 28 | |||
| Regulatory liability | 143 | 93 | 111 | 111 | 151 | 96 | |||
| Other liabilities | 32 | 36 | 49 | 25 | 22 | 24 | |||
| Due to related parties | ✕ | ✕ | ✕ | 4 | |||||
| Other undisclosed current liabilities | 150 | 250 | 160 | ||||||
| Total current liabilities: | 556 | 421 | 683 | 426 | 678 | 663 | |||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 1,368 | 1,307 | 1,236 | 1,230 | 1,256 | 1,259 | |||
| Asset retirement obligations | |||||||||
| Deferred income tax liabilities | 700 | 648 | 591 | 549 | 493 | 432 | |||
| Liability, pension and other postretirement and postemployment benefits | 69 | 81 | 69 | 120 | 164 | 133 | |||
| Regulatory liability | 363 | 396 | 378 | 352 | 390 | 477 | |||
| Other liabilities | 230 | 177 | 194 | 205 | 172 | 167 | |||
| Derivative instruments and hedges, liabilities | 6 | 4 | 5 | 4 | 38 | 49 | |||
| Total noncurrent liabilities: | 1,368 | 1,307 | 1,236 | 1,230 | 1,256 | 1,259 | |||
| Total liabilities: | 1,924 | 1,728 | 1,919 | 1,656 | 1,935 | 1,922 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 3,103 | 2,849 | 2,656 | 2,531 | 2,341 | 1,978 | |||
| Common stock | 1,747 | 1,697 | 1,697 | 1,697 | 1,647 | 1,397 | |||
| Accumulated other comprehensive loss | (4) | (4) | (3) | (10) | (11) | (8) | |||
| Retained earnings | 1,367 | 1,163 | 968 | 851 | 712 | 596 | |||
| Other undisclosed equity, attributable to parent | (6) | (6) | (6) | (6) | (6) | (6) | |||
| Other undisclosed equity | 2,495 | ||||||||
| Total equity: | 5,598 | 2,849 | 2,656 | 2,531 | 2,341 | 1,978 | |||
| Other undisclosed liabilities and equity | 2,397 | 2,115 | 2,135 | 1,814 | 1,589 | ||||
| TOTAL LIABILITIES AND EQUITY: | 7,522 | 6,974 | 6,690 | 6,322 | 6,090 | 5,489 | |||
Income Statement (P&L) ($ in millions)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,805 | 1,875 | 1,808 | 1,593 | 1,425 | 1,418 | ||
| Cost of revenue (Cost of Product and Service Sold) | (606) | (515) | (506) | |||||
| Gross profit: | 1,805 | 1,875 | 1,808 | 987 | 910 | 913 | ||
| Operating expenses | (1,409) | (1,504) | (1,491) | (106) | (87) | (83) | ||
| Other undisclosed operating loss | (599) | (541) | (547) | |||||
| Operating income: | 396 | 371 | 317 | 282 | 282 | 283 | ||
| Nonoperating expense | (63) | (63) | (67) | (49) | (49) | (62) | ||
| Public utilities, allowance for funds used during construction, additions | 9 | 5 | 3 | 7 | 9 | 6 | ||
| Public utilities, allowance for funds used during construction, capitalized cost of equity | 26 | 15 | 8 | 18 | 23 | 15 | ||
| Other nonoperating income (expense) | (3) | 9 | 14 | 10 | 5 | 6 | ||
| Interest and debt expense | (105) | (95) | (85) | (87) | (88) | (89) | ||
| Income from continuing operations before equity method investments, income taxes: | 228 | 212 | 164 | 147 | 145 | 132 | ||
| Other undisclosed income from continuing operations before income taxes | 105 | 95 | 85 | 87 | 88 | 89 | ||
| Income from continuing operations before income taxes: | 333 | 308 | 250 | 234 | 233 | 221 | ||
| Income tax expense | (44) | (49) | (32) | (32) | (41) | (34) | ||
| Income from continuing operations: | 289 | 259 | 217 | 201 | 191 | 187 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | 201 | 191 | 187 | |
| Net income available to common stockholders, diluted: | 289 | 259 | 217 | 201 | 191 | 187 | ||
Comprehensive Income ($ in millions)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 289 | 259 | 217 | 201 | 191 | 187 | ||
| Other comprehensive income (loss) | (0) | (1) | 7 | 1 | (3) | (3) | ||
| Comprehensive income, net of tax, attributable to parent: | 289 | 258 | 224 | 202 | 188 | 183 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.