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)

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 investments10614939810
Cash and cash equivalents10614939810
Receivables280264303251272298297
Inventory, net of allowances, customer advances and progress billings152525294637
Inventory152525294637 
Contract with customer, asset128137
Deferred costs33129131139129154138
Derivative instruments and hedges, assets11220161417
Regulatory current assets1331301729415013076
Income taxes receivable136
Costs in excess of billings1121089610197
Deferred tax assets    122 
Other current assets62564845373940
Other undisclosed current assets36817720912710572234
Total current assets:1,0309251,0168228919731,044
Noncurrent Assets
Operating lease, right-of-use asset146
Property, plant and equipment13,19812,37111,67011,37210,62810,1459,900
Intangible assets, net (including goodwill)29126325790124120158
Intangible assets, net (excluding goodwill)29126325790124120158
Derivative instruments and hedges  00121824
Regulated entity, other noncurrent assets1,3041,3431,2021,3131,2141,054712
Other noncurrent assets971038569535461
Defined benefit plan, assets for plan benefits166186152 
Other undisclosed noncurrent assets2,4132,6602,7892,1721,9211,7971,611
Total noncurrent assets:17,44916,73916,00315,18214,13813,34012,465
TOTAL ASSETS:18,47917,66417,01916,00415,02814,31413,509
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities633576539529562554416
Accounts payable346277256265297295285
Taxes payable145155149139139141131
Interest and dividends payable142144134126126118 
Deferred revenue65
Debt927576177302358531694
Derivative instruments and hedges, liabilities39365926786032
Regulatory liability23516610010013613199
Asset retirement obligation112059293233
Customer advances and deposits70837372
Contract with customer, liability91
Other liabilities168184247244198179159
Other undisclosed current liabilities    10 187
Total current liabilities:2,0781,6491,1981,2931,4421,5591,619
Noncurrent Liabilities
Long-term debt and lease obligation4,8844,6384,7904,0223,4623,0312,796
Long-term debt, excluding current maturities4,8334,6384,7904,0223,4623,0312,796
Operating lease, liability52
Liabilities, other than long-term debt5,7984,0083,9735,5325,2025,0064,546
Customer advances or deposits11489116123114
Deferred revenue and credits206210187179152
Pension and other postretirement defined benefit plans, liabilities514
Deferred revenue215
Contract with customer, liability137
Accumulated deferred investment tax credit196200
Asset retirement obligations646707675615415358314
Deferred tax liabilities, net  2,9452,7232,5832,352
Deferred income tax liabilities1,992
Liability for uncertainty in income taxes6231310101942
Liability, pension and other postretirement and postemployment benefits280443327509481454
Regulatory liability2,2682,3262,4539499941,051801
Other liabilities160148149157186188186
Derivative instruments and hedges, liabilities33253747905170
Other undisclosed noncurrent liabilities1662,0201,922222202198207
Total noncurrent liabilities:10,84810,66710,6869,7758,8668,2357,550
Total liabilities:12,92612,31511,88311,06810,3099,7949,168
Stockholders' equity
Stockholders' equity attributable to parent5,4315,2235,0074,8044,5844,3674,194
Common stock2,6602,6342,6152,5962,5422,5132,492
Treasury stock, value(9)(5)(6)(4)(6)(3)(4)
Accumulated other comprehensive loss(57)(48)(45)(44)(45)(68)(78)
Retained earnings2,8382,6412,4432,2562,0931,9261,785
Stockholders' equity attributable to noncontrolling interest123126129132136152146
Total stockholders' equity:5,5535,3495,1364,9364,7194,5194,340
TOTAL LIABILITIES AND EQUITY:18,47917,66417,01916,00415,02814,31413,509

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues3,4713,6913,5653,4993,4953,4923,455
Revenue, net3,5653,4993,4953,4923,455
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:9801,0841,2361,1191,1301,0981,097
Operating expenses(308)(310)(302)(263)(276)(287)(251)
Operating income:672774934856855811846
Nonoperating income871092928181911
Public utilities, allowance for funds used during construction, capitalized cost of equity31524742353126
Other nonoperating income (expense)327(18)(14)(17)(12)(14)
Interest and debt expense(217)(218)(198)(186)(179)(185)(187)
Income from continuing operations before income taxes:542664766698694644671
Income tax expense (benefit)16(134)(258)(236)(238)(221)(231)
Net income:558531508462456424440
Net loss attributable to noncontrolling interest(19)(19)(19)(19)(19)(26)(34)
Net income available to common stockholders, diluted:538511488442437398406

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:558531508462456424440
Other comprehensive income (loss)(9)6(1)1231036
Comprehensive income:548536507462480434476
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:529517487443461408442

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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