| Balance Sheets | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 |
|---|---|---|---|---|
| Cash and cash equivalents | 30,885 | 18,841 | 10,047 | 49,171 |
| Customer and other receivables | 778,097 | 569,656 | 430,726 | 839,094 |
| Accrued unbilled revenues (note 4) | 257,874 | 272,327 | 176,769 | 261,841 |
| Allowance for doubtful accounts (note 4) | 21,867 | 17,449 | 23,039 | 18,347 |
| Materials and supplies (at average cost) | 519,178 | 509,269 | 488,009 | 473,847 |
| Income tax receivable | - | - | - | 0 |
| Fossil fuel (at average cost) | 19,515 | 17,670 | 16,203 | 54,193 |
| Assets from risk management activities (note 9) | 6,636 | 10,903 | 77,550 | 641 |
| Assets held for sale (note 16) | - | - | - | 0 |
| Deferred fuel and purchased power regulatory asset (note 6) | 205,053 | 182,412 | 228,036 | 367,274 |
| Other regulatory assets (note 6) | 130,572 | 121,436 | 94,034 | 150,093 |
| Other current assets | 74,712 | 102,843 | 90,995 | 86,759 |
| Total current assets | 2,000,655 | 1,787,908 | 1,589,330 | 2,264,566 |
| Nuclear decommissioning trusts (notes 13 and 14) | 1,393,446 | 1,337,858 | 1,286,101 | 1,300,012 |
| Other special use funds (notes 13 and 14) | 429,932 | 423,332 | 415,401 | 387,499 |
| Assets from risk management activities (note 9) | 15,600 | 34,203 | 31,375 | - |
| Other assets | 138,383 | 140,619 | 133,136 | 122,359 |
| Total investments and other assets | 1,977,361 | 1,936,012 | 1,866,013 | 1,809,870 |
| Plant in service and held for future use | 26,268,660 | 25,895,037 | 26,326,246 | 25,262,439 |
| Accumulated depreciation and amortization | 8,952,278 | 8,690,747 | 9,327,761 | 8,877,815 |
| Net | 17,316,382 | 17,204,290 | 16,998,485 | 16,384,624 |
| Construction work in progress | 2,323,115 | 2,087,779 | 1,858,894 | 1,713,379 |
| Palo verde sale leaseback, net of accumulated depreciation (note 8) | 32,416 | 80,622 | 81,589 | 83,524 |
| Intangible assets, net of accumulated amortization | 544,356 | 569,047 | 555,462 | 586,559 |
| Nuclear fuel, net of accumulated amortization | 115,097 | 120,267 | 112,207 | 112,135 |
| Total property, plant and equipment | 20,331,366 | 20,062,005 | 19,606,637 | 18,880,221 |
| Regulatory assets (note 6) | 1,471,310 | 1,357,382 | 1,372,760 | 1,345,777 |
| Operating lease right-of-use assets (note 16) | 3,652,128 | 3,638,906 | 2,373,880 | 1,599,800 |
| Assets for pension and other postretirement benefits (note 7) | 376,338 | 364,229 | 353,910 | 351,546 |
| Other | 83,747 | 88,739 | 73,948 | 57,774 |
| Total deferred debits | 5,583,523 | 5,449,256 | 4,174,498 | 3,354,897 |
| Total assets | 29,892,905 | 29,235,181 | 27,236,478 | 26,309,554 |
| Accounts payable | 536,924 | 668,664 | 599,239 | 429,478 |
| Accrued taxes | 348,376 | 205,460 | 232,383 | 341,640 |
| Accrued interest | 99,233 | 84,760 | 82,819 | 83,910 |
| Common dividends payable | 0 | 106,869 | 0 | 0 |
| Short-term borrowings (note 5) | 675,700 | 1,405,000 | 870,197 | 623,500 |
| Current maturities of long-term debt (note 3) | - | - | - | 1,000,000 |
| Current maturities of long-term debt (note 5) | 600,000 | 350,000 | 800,000 | - |
| Customer deposits | 61,716 | 53,272 | 45,600 | 41,976 |
| Liabilities from risk management activities (note 9) | 39,078 | 25,692 | 18,208 | 79,617 |
| Liabilities for asset retirements (note 17) | 59,800 | 41,226 | 47,344 | 52,185 |
| Operating lease liabilities (note 16) | 203,740 | 191,628 | 122,929 | 119,080 |
| Regulatory liabilities (note 6) | 194,094 | 182,458 | 225,332 | 243,714 |
| Other current liabilities | 146,818 | 112,213 | 123,955 | 182,246 |
| Total current liabilities | 2,965,479 | 3,427,242 | 3,168,006 | 3,197,346 |
| Long-term debt less current maturities (note 5) | 9,204,259 | 8,507,002 | 8,060,736 | 8,056,318 |
| Deferred income taxes | 2,491,779 | 2,465,821 | 2,445,213 | 2,453,968 |
| Regulatory liabilities (note 6) | 1,769,900 | 1,912,279 | 1,910,764 | 1,809,563 |
| Liabilities for asset retirements (note 17) | 1,158,979 | 1,123,521 | 1,112,434 | 1,099,223 |
| Liabilities for pension benefits (note 7) | 150,086 | 147,929 | 140,437 | 107,355 |
| Liabilities from risk management activities (note 9) | 0 | 7,144 | 9,368 | 28,915 |
| Customer advances | 661,274 | 580,656 | 569,290 | 601,910 |
| Coal mine reclamation | 157,593 | 155,600 | 153,606 | 187,673 |
| Deferred investment tax credit | 239,470 | 246,189 | 249,525 | 247,456 |
| Unrecognized tax benefits | 87,245 | 45,815 | 45,013 | 44,564 |
| Operating lease liabilities (note 16) | 3,562,895 | 3,550,894 | 2,278,493 | 1,517,058 |
| Other | 232,853 | 237,149 | 247,611 | 232,135 |
| Total deferred credits and other | 10,512,074 | 10,472,997 | 9,161,754 | 8,329,820 |
| Common stock, no par value 300,000,000 and 150,000,000 shares authorized at respective dates, 119,736,525 and 119,143,782 shares issued at respective dates | 3,147,069 | 3,119,404 | 3,109,612 | 2,774,505 |
| Treasury stock at cost 46,968 and 46,968 shares at respective dates | 3,323 | 3,323 | 3,323 | 7,191 |
| Total common stock | 3,143,746 | 3,116,081 | 3,106,289 | 2,767,314 |
| Retained earnings | 4,054,355 | 3,641,148 | 3,662,313 | 3,882,081 |
| Accumulated other comprehensive loss (note 15) | -30,091 | -30,441 | -30,094 | -32,814 |
| Total shareholder equity | 7,168,010 | 6,726,788 | 6,738,508 | 6,616,581 |
| Noncontrolling interests (note 8) | 43,083 | 101,152 | 107,474 | 109,489 |
| Total equity | 7,211,093 | 6,827,940 | 6,845,982 | 6,726,070 |
| Total liabilities and equity | 29,892,905 | 29,235,181 | 27,236,478 | 26,309,554 |
PINNACLE WEST CAPITAL CORP (PNW)
PINNACLE WEST CAPITAL CORP (PNW)