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)
Annual | Quarterly

	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 investments	60	10	6	14	9	39	8
Cash and cash equivalents	60	10	6	14	9	39	8
Receivables	301	280	264	303	251	272	298
Inventory, net of allowances, customer advances and progress billings	20	15	25	25	29	46	37
Inventory	20	15	25	25	29	46	37
Contract with customer, asset	132	128	137	✕	✕	✕	✕
Deferred costs	35	33	129	131	139	129	154
Derivative instruments and hedges, assets	3	1	1	2	20	16	14
Regulatory current assets	116	133	130	172	94	150	130
Costs in excess of billings	✕	✕	✕	112	108	96	101
Deferred tax assets	✕	✕					122
Other current assets	77	62	56	48	45	37	39
Other undisclosed current assets	456	368	177	209	127	105	72
Total current assets:	1,198	1,030	925	1,016	822	891	973
Noncurrent Assets
Operating lease, right-of-use asset	505	146	✕	✕	✕	✕	✕
Property, plant and equipment	13,728	13,198	12,371	11,670	11,372	10,628	10,145
Intangible assets, net (including goodwill)	283	291	263	257	90	124	120
Intangible assets, net (excluding goodwill)	283	291	263	257	90	124	120
Derivative instruments and hedges				0	0	12	18
Regulated entity, other noncurrent assets	1,134	1,304	1,343	1,202	1,313	1,214	1,054
Other noncurrent assets	93	97	103	85	69	53	54
Defined benefit plan, assets for plan benefits	✕	✕	✕	✕	166	186	152
Other undisclosed noncurrent assets	3,080	2,413	2,660	2,789	2,172	1,921	1,797
Total noncurrent assets:	18,822	17,449	16,739	16,003	15,182	14,138	13,340
TOTAL ASSETS:	20,020	18,479	17,664	17,019	16,004	15,028	14,314
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities	629	633	576	539	529	562	554
Accounts payable	319	346	277	256	265	297	295
Taxes payable	160	145	155	149	139	139	141
Interest and dividends payable	150	142	144	134	126	126	118
Deferred revenue	48	65	✕	✕	✕	✕	✕
Debt	169	927	576	177	302	358	531
Derivative instruments and hedges, liabilities	8	39	36	59	26	78	60
Regulatory liability	229	235	166	100	100	136	131
Asset retirement obligation	16	11	20	5	9	29	32
Customer advances and deposits	✕	✕	✕	70	83	73	72
Contract with customer, liability	✕	✕	91	✕	✕	✕	✕
Other liabilities	187	168	184	247	244	198	179
Other undisclosed current liabilities	75					10
Total current liabilities:	1,360	2,078	1,649	1,198	1,293	1,442	1,559
Noncurrent Liabilities
Long-term debt and lease obligation	6,676	4,884	4,638	4,790	4,022	3,462	3,031
Long-term debt, excluding current maturities	6,314	4,833	4,638	4,790	4,022	3,462	3,031
Operating lease, liability	361	52	✕	✕	✕	✕	✕
Liabilities, other than long-term debt	6,061	5,798	4,008	3,973	5,532	5,202	5,006
Customer advances or deposits	✕	✕	✕	114	89	116	123
Deferred revenue and credits	✕	✕	✕	206	210	187	179
Deferred revenue	221	215	✕	✕	✕	✕	✕
Contract with customer, liability	✕	✕	137	✕	✕	✕	✕
Accumulated deferred investment tax credit	191	196	200	✕	✕	✕	✕
Asset retirement obligations	689	646	707	675	615	415	358
Deferred tax liabilities, net	✕	✕			2,945	2,723	2,583
Deferred income tax liabilities	2,135	1,992	✕	✕	✕	✕	✕
Liability for uncertainty in income taxes	6	6	23	13	10	10	19
Liability, pension and other postretirement and postemployment benefits	166	280	443	327	509	481	454
Regulatory liability	2,450	2,268	2,326	2,453	949	994	1,051
Other liabilities	191	160	148	149	157	186	188
Derivative instruments and hedges, liabilities	11	33	25	37	47	90	51
Other undisclosed noncurrent liabilities	170	166	2,020	1,922	222	202	198
Total noncurrent liabilities:	12,907	10,848	10,667	10,686	9,775	8,866	8,235
Total liabilities:	14,268	12,926	12,315	11,883	11,068	10,309	9,794
Stockholders' equity
Stockholders' equity attributable to parent	5,634	5,431	5,223	5,007	4,804	4,584	4,367
Common stock	2,677	2,660	2,634	2,615	2,596	2,542	2,513
Treasury stock, value	(6)	(9)	(5)	(6)	(4)	(6)	(3)
Accumulated other comprehensive loss	(63)	(57)	(48)	(45)	(44)	(45)	(68)
Retained earnings	3,025	2,838	2,641	2,443	2,256	2,093	1,926
Stockholders' equity attributable to noncontrolling interest	119	123	126	129	132	136	152
Total stockholders' equity:	5,753	5,553	5,349	5,136	4,936	4,719	4,519
TOTAL LIABILITIES AND EQUITY:	20,020	18,479	17,664	17,019	16,004	15,028	14,314

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

	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Revenues	3,587	3,471	3,691	3,565	3,499	3,495	3,492
Revenue, net	✕	✕	✕	3,565	3,499	3,495	3,492
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:	1,129	980	1,084	1,236	1,119	1,130	1,098
Operating expenses	(341)	(308)	(310)	(302)	(263)	(276)	(287)
Operating income:	788	672	774	934	856	855	811
Nonoperating income	89	87	109	29	28	18	19
Public utilities, allowance for funds used during construction, capitalized cost of equity	34	31	52	47	42	35	31
Other nonoperating income (expense)	(1)	32	7	(18)	(14)	(17)	(12)
Interest and debt expense	(229)	(217)	(218)	(198)	(186)	(179)	(185)
Income from continuing operations before income taxes:	648	542	664	766	698	694	644
Income tax expense (benefit)	(78)	16	(134)	(258)	(236)	(238)	(221)
Net income:	570	558	531	508	462	456	424
Net loss attributable to noncontrolling interest	(19)	(19)	(19)	(19)	(19)	(19)	(26)
Net income available to common stockholders, diluted:	551	538	511	488	442	437	398

Comprehensive Income ($ in millions)
Annual | Quarterly

	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net income:	570	558	531	508	462	456	424
Other comprehensive income (loss)	(6)	(9)	6	(1)	1	23	10
Comprehensive income:	564	548	536	507	462	480	434
Comprehensive loss, net of tax, attributable to noncontrolling interest	(19)	(19)	(19)	(19)	(19)	(19)	(26)
Comprehensive income, net of tax, attributable to parent:	545	529	517	487	443	461	408

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 (2021 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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IFRS financial reportingand analysis software

Pinnacle West Capital Corporation (PNW) financial statements (2021 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