Pinnacle West Capital Corporation (PNW) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments60106149398
Cash and cash equivalents60106149398
Receivables301280264303251272298
Inventory, net of allowances, customer advances and progress billings20152525294637
Inventory20152525294637
Contract with customer, asset132128137
Deferred costs3533129131139129154
Derivative instruments and hedges, assets3112201614
Regulatory current assets11613313017294150130
Costs in excess of billings11210896101
Deferred tax assets    122
Other current assets77625648453739
Other undisclosed current assets45636817720912710572
Total current assets:1,1981,0309251,016822891973
Noncurrent Assets
Operating lease, right-of-use asset505146
Property, plant and equipment13,72813,19812,37111,67011,37210,62810,145
Intangible assets, net (including goodwill)28329126325790124120
Intangible assets, net (excluding goodwill)28329126325790124120
Derivative instruments and hedges   001218
Regulated entity, other noncurrent assets1,1341,3041,3431,2021,3131,2141,054
Other noncurrent assets939710385695354
Defined benefit plan, assets for plan benefits166186152
Other undisclosed noncurrent assets3,0802,4132,6602,7892,1721,9211,797
Total noncurrent assets:18,82217,44916,73916,00315,18214,13813,340
TOTAL ASSETS:20,02018,47917,66417,01916,00415,02814,314
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities629633576539529562554
Accounts payable319346277256265297295
Taxes payable160145155149139139141
Interest and dividends payable150142144134126126118
Deferred revenue4865
Debt169927576177302358531
Derivative instruments and hedges, liabilities8393659267860
Regulatory liability229235166100100136131
Asset retirement obligation161120592932
Customer advances and deposits70837372
Contract with customer, liability91
Other liabilities187168184247244198179
Other undisclosed current liabilities75    10 
Total current liabilities:1,3602,0781,6491,1981,2931,4421,559
Noncurrent Liabilities
Long-term debt and lease obligation6,6764,8844,6384,7904,0223,4623,031
Long-term debt, excluding current maturities6,3144,8334,6384,7904,0223,4623,031
Operating lease, liability36152
Liabilities, other than long-term debt6,0615,7984,0083,9735,5325,2025,006
Customer advances or deposits11489116123
Deferred revenue and credits206210187179
Deferred revenue221215
Contract with customer, liability137
Accumulated deferred investment tax credit191196200
Asset retirement obligations689646707675615415358
Deferred tax liabilities, net  2,9452,7232,583
Deferred income tax liabilities2,1351,992
Liability for uncertainty in income taxes662313101019
Liability, pension and other postretirement and postemployment benefits166280443327509481454
Regulatory liability2,4502,2682,3262,4539499941,051
Other liabilities191160148149157186188
Derivative instruments and hedges, liabilities11332537479051
Other undisclosed noncurrent liabilities1701662,0201,922222202198
Total noncurrent liabilities:12,90710,84810,66710,6869,7758,8668,235
Total liabilities:14,26812,92612,31511,88311,06810,3099,794
Stockholders' equity
Stockholders' equity attributable to parent5,6345,4315,2235,0074,8044,5844,367
Common stock2,6772,6602,6342,6152,5962,5422,513
Treasury stock, value(6)(9)(5)(6)(4)(6)(3)
Accumulated other comprehensive loss(63)(57)(48)(45)(44)(45)(68)
Retained earnings3,0252,8382,6412,4432,2562,0931,926
Stockholders' equity attributable to noncontrolling interest119123126129132136152
Total stockholders' equity:5,7535,5535,3495,1364,9364,7194,519
TOTAL LIABILITIES AND EQUITY:20,02018,47917,66417,01916,00415,02814,314

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues3,5873,4713,6913,5653,4993,4953,492
Revenue, net3,5653,4993,4953,492
Cost of revenue(2,458)(2,491)(2,607)(2,329)(2,380)(2,365)(2,393)
Cost of goods and services sold(1,608)(1,633)(1,076)(1,515)(1,561)(1,596)(1,597)
Gross profit:1,1299801,0841,2361,1191,1301,098
Operating expenses(341)(308)(310)(302)(263)(276)(287)
Operating income:788672774934856855811
Nonoperating income898710929281819
Public utilities, allowance for funds used during construction, capitalized cost of equity34315247423531
Other nonoperating income (expense)(1)327(18)(14)(17)(12)
Interest and debt expense(229)(217)(218)(198)(186)(179)(185)
Income from continuing operations before income taxes:648542664766698694644
Income tax expense (benefit)(78)16(134)(258)(236)(238)(221)
Net income:570558531508462456424
Net loss attributable to noncontrolling interest(19)(19)(19)(19)(19)(19)(26)
Net income available to common stockholders, diluted:551538511488442437398

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:570558531508462456424
Other comprehensive income (loss)(6)(9)6(1)12310
Comprehensive income:564548536507462480434
Comprehensive loss, net of tax, attributable to noncontrolling interest(19)(19)(19)(19)(19)(19)(26)
Comprehensive income, net of tax, attributable to parent:545529517487443461408

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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