Pinnacle West Capital Corporation (PNW) financial statements (2020 and earlier)

Company profile

Business Address	400 NORTH FIFTH STREET PHOENIX, AZ 85004
State of Incorp.	AZ
Fiscal Year End	December 31
SIC	4911 - Electric Services (benchmarking)
More info	Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)
Annual | Quarterly

	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014	12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments	10	6	14	9	39	8	10
Cash and cash equivalents	10	6	14	9	39	8	10
Receivables	280	264	303	251	272	298	297
Inventory, net of allowances, customer advances and progress billings	15	25	25	29	46	37	✕
Inventory	15	25	25	29	46	37
Contract with customer, asset	128	137	✕	✕	✕	✕	✕
Deferred costs	33	129	131	139	129	154	138
Derivative instruments and hedges, assets	1	1	2	20	16	14	17
Regulatory current assets	133	130	172	94	150	130	76
Income taxes receivable	✕	✕	✕	✕	✕	✕	136
Costs in excess of billings	✕	✕	112	108	96	101	97
Deferred tax assets	✕					122
Other current assets	62	56	48	45	37	39	40
Other undisclosed current assets	368	177	209	127	105	72	234
Total current assets:	1,030	925	1,016	822	891	973	1,044
Noncurrent Assets
Operating lease, right-of-use asset	146	✕	✕	✕	✕	✕	✕
Property, plant and equipment	13,198	12,371	11,670	11,372	10,628	10,145	9,900
Intangible assets, net (including goodwill)	291	263	257	90	124	120	158
Intangible assets, net (excluding goodwill)	291	263	257	90	124	120	158
Derivative instruments and hedges			0	0	12	18	24
Regulated entity, other noncurrent assets	1,304	1,343	1,202	1,313	1,214	1,054	712
Other noncurrent assets	97	103	85	69	53	54	61
Defined benefit plan, assets for plan benefits	✕	✕	✕	166	186	152
Other undisclosed noncurrent assets	2,413	2,660	2,789	2,172	1,921	1,797	1,611
Total noncurrent assets:	17,449	16,739	16,003	15,182	14,138	13,340	12,465
TOTAL ASSETS:	18,479	17,664	17,019	16,004	15,028	14,314	13,509
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities	633	576	539	529	562	554	416
Accounts payable	346	277	256	265	297	295	285
Taxes payable	145	155	149	139	139	141	131
Interest and dividends payable	142	144	134	126	126	118
Deferred revenue	65	✕	✕	✕	✕	✕	✕
Debt	927	576	177	302	358	531	694
Derivative instruments and hedges, liabilities	39	36	59	26	78	60	32
Regulatory liability	235	166	100	100	136	131	99
Asset retirement obligation	11	20	5	9	29	32	33
Customer advances and deposits	✕	✕	70	83	73	72	✕
Contract with customer, liability	✕	91	✕	✕	✕	✕	✕
Other liabilities	168	184	247	244	198	179	159
Other undisclosed current liabilities					10		187
Total current liabilities:	2,078	1,649	1,198	1,293	1,442	1,559	1,619
Noncurrent Liabilities
Long-term debt and lease obligation	4,884	4,638	4,790	4,022	3,462	3,031	2,796
Long-term debt, excluding current maturities	4,833	4,638	4,790	4,022	3,462	3,031	2,796
Operating lease, liability	52	✕	✕	✕	✕	✕	✕
Liabilities, other than long-term debt	5,798	4,008	3,973	5,532	5,202	5,006	4,546
Customer advances or deposits	✕	✕	114	89	116	123	114
Deferred revenue and credits	✕	✕	206	210	187	179	152
Pension and other postretirement defined benefit plans, liabilities	✕	✕	✕	✕	✕	✕	514
Deferred revenue	215	✕	✕	✕	✕	✕	✕
Contract with customer, liability	✕	137	✕	✕	✕	✕	✕
Accumulated deferred investment tax credit	196	200	✕	✕	✕	✕	✕
Asset retirement obligations	646	707	675	615	415	358	314
Deferred tax liabilities, net	✕			2,945	2,723	2,583	2,352
Deferred income tax liabilities	1,992	✕	✕	✕	✕	✕	✕
Liability for uncertainty in income taxes	6	23	13	10	10	19	42
Liability, pension and other postretirement and postemployment benefits	280	443	327	509	481	454	✕
Regulatory liability	2,268	2,326	2,453	949	994	1,051	801
Other liabilities	160	148	149	157	186	188	186
Derivative instruments and hedges, liabilities	33	25	37	47	90	51	70
Other undisclosed noncurrent liabilities	166	2,020	1,922	222	202	198	207
Total noncurrent liabilities:	10,848	10,667	10,686	9,775	8,866	8,235	7,550
Total liabilities:	12,926	12,315	11,883	11,068	10,309	9,794	9,168
Stockholders' equity
Stockholders' equity attributable to parent	5,431	5,223	5,007	4,804	4,584	4,367	4,194
Common stock	2,660	2,634	2,615	2,596	2,542	2,513	2,492
Treasury stock, value	(9)	(5)	(6)	(4)	(6)	(3)	(4)
Accumulated other comprehensive loss	(57)	(48)	(45)	(44)	(45)	(68)	(78)
Retained earnings	2,838	2,641	2,443	2,256	2,093	1,926	1,785
Stockholders' equity attributable to noncontrolling interest	123	126	129	132	136	152	146
Total stockholders' equity:	5,553	5,349	5,136	4,936	4,719	4,519	4,340
TOTAL LIABILITIES AND EQUITY:	18,479	17,664	17,019	16,004	15,028	14,314	13,509

Income statement (P&L) ($ in millions)
Annual | Quarterly

	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014	12/31/2013
Revenues	3,471	3,691	3,565	3,499	3,495	3,492	3,455
Revenue, net	✕	✕	3,565	3,499	3,495	3,492	3,455
Cost of revenue	(2,491)	(2,607)	(2,329)	(2,380)	(2,365)	(2,393)	(2,357)
Cost of goods and services sold	(1,633)	(1,076)	(1,515)	(1,561)	(1,596)	(1,597)	(1,511)
Gross profit:	980	1,084	1,236	1,119	1,130	1,098	1,097
Operating expenses	(308)	(310)	(302)	(263)	(276)	(287)	(251)
Operating income:	672	774	934	856	855	811	846
Nonoperating income	87	109	29	28	18	19	11
Public utilities, allowance for funds used during construction, capitalized cost of equity	31	52	47	42	35	31	26
Other nonoperating income (expense)	32	7	(18)	(14)	(17)	(12)	(14)
Interest and debt expense	(217)	(218)	(198)	(186)	(179)	(185)	(187)
Income from continuing operations before income taxes:	542	664	766	698	694	644	671
Income tax expense (benefit)	16	(134)	(258)	(236)	(238)	(221)	(231)
Net income:	558	531	508	462	456	424	440
Net loss attributable to noncontrolling interest	(19)	(19)	(19)	(19)	(19)	(26)	(34)
Net income available to common stockholders, diluted:	538	511	488	442	437	398	406

Comprehensive Income ($ in millions)
Annual | Quarterly

	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014	12/31/2013
Net income:	558	531	508	462	456	424	440
Other comprehensive income (loss)	(9)	6	(1)	1	23	10	36
Comprehensive income:	548	536	507	462	480	434	476
Comprehensive income (loss), net of tax, attributable to noncontrolling interest	(19)	(19)	(19)	(19)	(19)	(26)	34
Other undisclosed comprehensive loss, net of tax, attributable to parent							(68)
Comprehensive income, net of tax, attributable to parent:	529	517	487	443	461	408	442

Statements sources

The financial statements are based on the company's filings with the 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.

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Pinnacle West Capital Corporation (PNW) financial statements (2020 and earlier)

Company profile

Balance sheet (Statement of financial position) ($ in millions)
Annual | Quarterly

Income statement (P&L) ($ in millions)
Annual | Quarterly

Comprehensive Income ($ in millions)
Annual | Quarterly

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Pinnacle West Capital Corporation (PNW) financial statements (2020 and earlier)

Company profile

Balance sheet (Statement of financial position) ($ in millions)Annual | Quarterly

Income statement (P&L) ($ in millions) Annual | Quarterly

Comprehensive Income ($ in millions)Annual | Quarterly

Statements sources

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IFRS financial reporting
and analysis software

Balance sheet (Statement of financial position) ($ in millions)
Annual | Quarterly

Income statement (P&L) ($ in millions)
Annual | Quarterly

Comprehensive Income ($ in millions)
Annual | Quarterly