SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

PINNACLE WEST CAPITAL CORPORATION HOLDING COMPANY

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

(dollars in thousands)

	Year Ended December 31,
	2015			2014			2013
Operating revenues	$	550		$	642		$	799
Operating expenses	12,733			23,507			24,930
Operating loss	(12,183		)	(22,865		)	(24,131		)
Other
Equity in earnings of subsidiaries	446,508			411,528			420,926
Other expense	(3,302		)	(3,276		)	(1,999		)
Total	443,206			408,252			418,927
Interest expense	2,672			3,663			3,226
Income before income taxes	428,351			381,724			391,570
Income tax benefit	(8,906		)	(15,871		)	(14,504		)
Net income attributable to common shareholders	437,257			397,595			406,074
Other comprehensive income — attributable to common shareholders	23,393			9,912			35,955
Total comprehensive income — attributable to common shareholders	$	460,650		$	407,507		$	442,029

See Combined Notes to Consolidated Financial Statements.

PINNACLE WEST CAPITAL CORPORATION HOLDING COMPANY

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT

CONDENSED BALANCE SHEETS

(dollars in thousands)

	December 31,
	2015			2014
ASSETS
Current assets
Cash and cash equivalents	$	17,432		$	3,088
Accounts receivable	93,093			99,958
Current deferred income taxes	—			66,979
Income tax receivable	14,895			7,329
Other current assets	197			124
Total current assets	125,617			177,478
Investments and other assets
Investments in subsidiaries	4,815,236			4,630,570
Deferred income taxes	41,065			—
Other assets	43,422			43,051
Total investments and other assets	4,899,723			4,673,621
Total Assets	$	5,025,340		$	4,851,099
LIABILITIES AND EQUITY
Current liabilities
Accounts payable	$	5,901		$	5,250
Accrued taxes	6,904			12,220
Common dividends payable	69,363			65,790
Other current liabilities	33,120			38,992
Total current liabilities	115,288			122,252
Long-term debt less current maturities	125,000			125,000
Deferred credits and other
Deferred income taxes	—			12,055
Pension liabilities	21,933			29,228
Other	43,662			43,462
Total deferred credits and other	65,595			84,745
Common stock equity
Common stock	2,535,862			2,509,569
Accumulated other comprehensive loss	(44,748		)	(68,141		)
Retained earnings	2,092,803			1,926,065
Total Pinnacle West Shareholders’ equity	4,583,917			4,367,493
Noncontrolling interests	135,540			151,609
Total Equity	4,719,457			4,519,102
Total Liabilities and Equity	$	5,025,340		$	4,851,099

See Combined Notes to Consolidated Financial Statements.

PINNACLE WEST CAPITAL CORPORATION HOLDING COMPANY

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT

CONDENSED STATEMENTS OF CASH FLOWS

(dollars in thousands)

	Year Ended December 31,
	2015			2014			2013
Cash flows from operating activities
Net income	$	437,257		$	397,595		$	406,074
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries — net	(446,508		)	(411,528		)	(420,926		)
Depreciation and amortization	92			94			95
Deferred income taxes	12,967			4,406			(28,806		)
Accounts receivable	11,336			(22,945		)	21,671
Accounts payable	637			2,017			(2,449		)
Accrued taxes and income tax receivables — net	(12,882		)	(1,795		)	1,402
Dividends received from subsidiaries	266,900			253,600			242,100
Other	(6,995		)	18,432			(15,065		)
Net cash flow provided by operating activities	262,804			239,876			204,096
Cash flows from investing activities
Construction work in progress	(3,462		)	—			—
Investments in subsidiaries	(3,491		)	(10,236		)	(3,400		)
Repayments of loans from subsidiaries	157			322			2,149
Advances of loans to subsidiaries	(1,010		)	(1,450		)	(2,099		)
Net cash flow used for investing activities	(7,806		)	(11,364		)	(3,350		)
Cash flows from financing activities
Issuance of long-term debt	—			125,000			—
Dividends paid on common stock	(260,027		)	(246,671		)	(235,244		)
Repayment of long-term debt	—			(125,000		)	—
Common stock equity issuance	19,373			15,288			17,319
Other	—			161			298
Net cash flow used for financing activities	(240,654		)	(231,222		)	(217,627		)
Net increase (decrease) in cash and cash equivalents	14,344			(2,710		)	(16,881		)
Cash and cash equivalents at beginning of year	3,088			5,798			22,679
Cash and cash equivalents at end of year	$	17,432		$	3,088		$	5,798

See Combined Notes to Consolidated Financial Statements.