Business Segments (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Reportable Segment’s Revenues, Significant Expenses, Net Income, and Assets

The following table reconciles our reportable segment’s revenues, significant expenses, and net income (loss) to the Pinnacle West consolidated amounts (dollars in millions):



	Three Months Ended September 30,
	2025						2024
	Regulated Electricity Segment		Other		Pinnacle West Consolidated		Regulated Electricity Segment		Other		Pinnacle West Consolidated
Operating revenues	$	1,821	$	—	$	1,821	$	1,769	$	—	$	1,769
Fuel and purchased power	(656)		—		(656)		(631)		—		(631)
Operations and maintenance	(298)		(2)		(300)		(306)		(2)		(308)
Depreciation and amortization	(225)		—		(225)		(229)		—		(229)
Taxes other than income taxes	(58)		—		(58)		(53)		—		(53)
Allowance for equity funds used during construction	18		—		18		10		—		10
Pension and other postretirement non-service credits, net	3		—		3		12		—		12
Other income and (expense), net	(3)		6		3		—		1		1
Interest charges, net of allowance for borrowed funds used during construction	(85)		(26)		(111)		(79)		(19)		(98)
Income taxes	(86)		8		(78)		(81)		7		(74)
Less: Net income attributable to noncontrolling interests	(4)		—		(4)		(4)		—		(4)
Net Income (Loss)	$	427	$	(14)	$	413	$	408	$	(13)	$	395



	Nine Months Ended September 30,
	2025						2024
	Regulated Electricity Segment		Other		Pinnacle West Consolidated		Regulated Electricity Segment		Other		Pinnacle West Consolidated
Operating revenues	$	4,212	$	—	$	4,212	$	4,030	$	—	$	4,030
Fuel and purchased power	(1,513)		—		(1,513)		(1,426)		—		(1,426)
Operations and maintenance	(879)		(7)		(886)		(832)		(6)		(838)
Depreciation and amortization	(688)		—		(688)		(665)		—		(665)
Taxes other than income taxes	(175)		—		(175)		(171)		—		(171)
Allowance for equity funds used during construction	46		—		46		29		—		29
Pension and other postretirement non-service credits, net	10		(1)		9		37		—		37
Other income and (expense), net	(2)		26		24		5		22		27
Interest charges, net of allowance for borrowed funds used during construction	(244)		(64)		(308)		(235)		(48)		(283)
Income taxes	(122)		15		(107)		(124)		13		(111)
Less: Net income attributable to noncontrolling interests	(13)		—		(13)		(13)		—		(13)
Net Income (Loss)	$	632	$	(31)	$	601	$	635	$	(19)	$	616

The following table reconciles our reportable segment’s assets to the Pinnacle West consolidated amount (dollars in millions):


	September 30, 2025						December 31, 2024
	Regulated Electricity Segment		Other		Pinnacle West Consolidated		Regulated Electricity Segment		Other		Pinnacle West Consolidated
Total Assets	$	29,746	$	147	$	29,893	$	25,988	$	115	$	26,103

PINNACLE WEST CAPITAL CORP 10-Q