For the year ending 2025-12-31, PNW had $2,766K increase in cash & cash equivalents over the period. -$819,523K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 631,643 | 626,030 | 518,781 | 500,826 |
| Gain on sale relating to bce | 0 | 22,988 | 6,423 | - |
| Depreciation and amortization including nuclear fuel | 969,615 | 956,184 | 854,136 | 817,814 |
| Allowance for equity funds used during construction | 61,146 | 38,620 | 53,118 | 45,263 |
| Deferred income taxes | -50,850 | -20,923 | -24,310 | 43,202 |
| Deferred investment tax credit | 58,772 | -8,253 | 77,065 | -5,893 |
| Change in derivative instruments fair value | 0 | 0 | 777 | -777 |
| Stock compensation | 27,457 | 23,532 | 17,341 | 15,942 |
| Customer and other receivables | 51,275 | 12,696 | 61,983 | 63,869 |
| Accrued unbilled revenues | -3,211 | 9,350 | 2,789 | 30,784 |
| Materials, supplies and fossil fuel | 63,711 | 7,895 | 42,911 | 83,469 |
| Income tax receivable | 5,979 | -332 | -13,754 | 6,572 |
| Deferred fuel and purchased power | -324,482 | -250,288 | -549,877 | -291,992 |
| Deferred fuel and purchased power amortization | 463,011 | 425,886 | 547,243 | 219,579 |
| Other current assets | 42,991 | 50,225 | 19,550 | -76,067 |
| Accounts payable | 171,138 | -7,214 | -75,623 | 90,076 |
| Accrued taxes | 10,742 | 9,030 | 2,393 | -4,205 |
| Other current liabilities | 18,714 | 47,329 | 40,510 | -6,056 |
| Change in margin and collateral accounts assets | - | - | - | -22 |
| Change in margin and collateral accounts liabilities | - | - | - | 4,200 |
| Change in unrecognized tax benefits | 81,090 | - | - | -1,989 |
| Change in long-term regulatory assets | -91,373 | -43,305 | -53,112 | - |
| Change in long-term regulatory liabilities | 37,205 | 9,416 | 28,495 | -332,470 |
| Change in other long-term assets | 283,507 | 132,563 | 195,598 | -276,821 |
| Change in operating lease assets | -151,522 | -98,214 | -90,525 | - |
| Change in other long-term liabilities | 138,934 | 24,794 | 63,080 | 68,677 |
| Change in operating lease liabilities | -165,391 | -93,214 | -65,779 | - |
| Net cash provided by operating activities | 1,805,095 | 1,609,823 | 1,207,697 | 1,241,441 |
| Capital expenditures | 2,624,618 | 2,249,195 | 1,846,370 | 1,707,490 |
| Contributions in aid of construction | 306,380 | 311,358 | 180,866 | 137,436 |
| Proceeds from sale relating to bce | 0 | 84,322 | 23,400 | - |
| Allowance for borrowed funds used during construction | -47,733 | -48,270 | -43,564 | -28,030 |
| Proceeds from nuclear decommissioning trusts sales and other special use funds | 1,855,200 | 1,686,094 | 1,679,722 | 1,207,713 |
| Investment in nuclear decommissioning trusts and other special use funds | 1,858,991 | 1,709,526 | 1,681,845 | 1,212,063 |
| Other | 8,912 | 8,413 | 6,458 | 15,612 |
| Net cash used for investing activities | -2,378,674 | -1,933,630 | -1,694,249 | -1,618,046 |
| Issuance of long-term debt | 1,742,754 | 1,313,229 | 689,349 | 875,537 |
| Repayment of long-term debt | 800,000 | 875,000 | 32,740 | 150,000 |
| Short-term borrowings and (repayments) net | 213,555 | -241,050 | 241,900 | 48,720 |
| Short-term debt borrowings under revolving credit facility | - | - | - | 0 |
| Short-term debt borrowings under term loan facility | 575,000 | 550,000 | - | - |
| Short-term debt repayments under revolving credit facility | - | - | 0 | 0 |
| Short-term debt repayments under term loan facility | 600,000 | 350,000 | - | - |
| Dividends paid on common stock | 422,792 | 394,663 | 386,486 | 378,881 |
| Common stock equity issuance and purchases net | 84,613 | 341,429 | -4,093 | -2,653 |
| Palo verde sale leaseback noncontrolling interest acquisition | 198,744 | - | - | - |
| Capital activities by noncontrolling interests | 18,041 | 21,255 | 21,255 | 21,255 |
| Net cash provided by financing activities | 576,345 | 322,690 | 486,675 | 371,468 |
| Net increase (decrease) in cash and cash equivalents | 2,766 | -1,117 | 123 | -5,137 |
| Cash and cash equivalents at beginning of period | 3,838 | 4,955 | 4,832 | 9,969 |
| Cash and cash equivalents at end of period | 6,604 | 3,838 | 4,955 | 4,832 |
PINNACLE WEST CAPITAL CORP (PNW)
PINNACLE WEST CAPITAL CORP (PNW)