XML 164 R138.htm IDEA: XBRL DOCUMENT v3.25.4
Schedule I - Condensed Financial Information of Registrant - Cash Flows (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net income $ 631,643 $ 626,030 $ 518,781
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 969,615 956,184 854,136
Deferred income taxes (50,850) (20,923) (24,310)
Accounts receivable (51,275) (12,696) (61,983)
Accounts payable 171,138 (7,214) (75,623)
Net cash provided by operating activities 1,805,095 1,609,823 1,207,697
Cash flows from investing activities      
Proceeds from sale relating to BCE 0 84,322 23,400
Net cash used for investing activities (2,378,674) (1,933,630) (1,694,249)
Cash flows from financing activities      
Issuance of long-term debt 1,742,754 1,313,229 689,349
Repayment of long-term debt (800,000) (875,000) (32,740)
Short-term borrowings and (repayments) — net 213,555 (241,050) 241,900
Short-term debt borrowings under term loan facility 575,000 550,000 0
Short-term debt repayments under term loan facility (600,000) (350,000) 0
Dividends paid on common stock (422,792) (394,663) (386,486)
Net cash provided by financing activities 576,345 322,690 486,675
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 2,766 (1,117) 123
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,838 4,955 4,832
CASH AND CASH EQUIVALENTS AT END OF PERIOD 6,604 3,838 4,955
Pinnacle West Consolidated      
Cash flows from operating activities      
Net income 616,531 608,806 501,557
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in earnings of subsidiaries — net (699,155) (643,703) (539,962)
Gain on sale relating to BCE 0 (22,988) (6,423)
Depreciation and amortization 68 75 76
Deferred income taxes 18,675 40,231 (13,955)
Accounts receivable (1,672) 15,268 (28,273)
Accounts payable 4,213 (4,869) 1,839
Accrued taxes and income tax receivables — net 4,030 (4,584) 9,505
Dividends received from subsidiaries 429,700 401,400 393,600
Other 30,457 22,959 (14,201)
Net cash provided by operating activities 402,847 412,595 303,763
Cash flows from investing activities      
Proceeds from sale relating to BCE 0 84,322 23,400
Investments in subsidiaries (382,338) (827,752) (119,682)
Repayments of loans from subsidiaries and other 13,756 1,132 6,526
Advances of loans to subsidiaries (10,202) (11,336) (59,349)
Net cash used for investing activities (378,784) (753,634) (149,105)
Cash flows from financing activities      
Issuance of long-term debt 795,404 867,387 175,000
Repayment of long-term debt (500,000) (625,000) 0
Short-term borrowings and (repayments) — net 46,150 (48,100) 60,930
Short-term debt borrowings under term loan facility 175,000 200,000 0
Short-term debt repayments under term loan facility (200,000) 0 0
Dividends paid on common stock (422,792) (394,663) (386,486)
Common stock equity issuance and purchases — net 84,613 341,429 (4,093)
Net cash provided by financing activities (21,625) 341,053 (154,649)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 2,438 14 9
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 23 9 0
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 2,461 $ 23 $ 9