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SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information 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,
| 2021 |  | 2020 |  | 2019
Operating expenses | $ | 10,245 |  |  | $ | 7,901 |  |  | $ | 12,451 |
Other |  |  |  |  |
Equity in earnings of subsidiaries | 628,916 |  |  | 566,147 |  |  | 562,946 |
Other expense | (4,919) |  |  | (4,586) |  |  | (3,957) |
Total | 623,997 |  |  | 561,561 |  |  | 558,989 |
Interest expense | 10,672 |  |  | 14,021 |  |  | 15,069 |
Income before income taxes | 603,080 |  |  | 539,639 |  |  | 531,469 |
Income tax benefit | (15,640) |  |  | (10,920) |  |  | (6,851) |
Net income attributable to common shareholders | 618,720 |  |  | 550,559 |  |  | 538,320 |
Other comprehensive income (loss) — attributable to common shareholders | 7,935 |  |  | (5,700) |  |  | (9,388) |
Total comprehensive income — attributable to common shareholders | $ | 626,655 |  |  | $ | 544,859 |  |  | $ | 528,932 |
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,
| 2021 |  | 2020
ASSETS |  |  |
Current assets |  |  |
Cash and cash equivalents | $ | 594 |  |  | $ | 19 |
Accounts receivable | 125,457 |  |  | 123,980 |
Income tax receivable | 1,498 |  |  | 14,719 |
Other current assets | 13 |  |  | 298 |
Total current assets | 127,562 |  |  | 139,016 |
Investments and other assets |  |  |
Investments in subsidiaries | 6,797,528 |  |  | 6,400,339 |
Deferred income taxes | 19,520 |  |  | 7,589 |
Other assets | 57,608 |  |  | 52,595 |
Total investments and other assets | 6,874,656 |  |  | 6,460,523 |
Total Assets | $ | 7,002,218 |  |  | $ | 6,599,539 |
LIABILITIES AND EQUITY |  |  |
Current liabilities |  |  |
Accounts payable | $ | 3,071 |  |  | $ | 5,669 |
Accrued taxes | 19,855 |  |  | 16,998 |
Common dividends payable | 95,988 |  |  | 93,531 |
Short-term borrowings | 13,300 |  |  | 169,000 |
Current maturities of long-term debt | 150,000 |  |  | — |
Operating lease liabilities | 107 |  |  | 90 |
Other current liabilities | 14,684 |  |  | 15,306 |
Total current liabilities | 297,005 |  |  | 300,594 |
Long-term debt less current maturities (Note 7) | 647,139 |  |  | 496,321 |
Pension liabilities | 14,537 |  |  | 17,541 |
Operating lease liabilities | 1,576 |  |  | 1,683 |
Other | 20,501 |  |  | 30,607 |
Total deferred credits and other | 36,614 |  |  | 49,831 |
COMMITMENTS AND CONTINGENCIES (SEE NOTES) |  |  |
Common stock equity |  |  |
Common stock | 2,696,342 |  |  | 2,671,193 |
Accumulated other comprehensive loss | (54,861) |  |  | (62,796) |
Retained earnings | 3,264,719 |  |  | 3,025,106 |
Total Pinnacle West Shareholders’ equity | 5,906,200 |  |  | 5,633,503 |
Noncontrolling interests | 115,260 |  |  | 119,290 |
Total Equity | 6,021,460 |  |  | 5,752,793 |
Total Liabilities and Equity | $ | 7,002,218 |  |  | $ | 6,599,539 |
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,
| 2021 |  | 2020 |  | 2019
Cash flows from operating activities |  |  |  |  |
Net income | $ | 618,720 |  |  | $ | 550,559 |  |  | $ | 538,320 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Equity in earnings of subsidiaries — net | (628,916) |  |  | (566,147) |  |  | (562,946) |
Depreciation and amortization | 93 |  |  | 76 |  |  | 76 |
Deferred income taxes | (11,381) |  |  | 33,007 |  |  | (35,831) |
Accounts receivable | 8,897 |  |  | (7,903) |  |  | 182 |
Accounts payable | (2,598) |  |  | (1,964) |  |  | (2,129) |
Accrued taxes and income tax receivables — net | 16,079 |  |  | 9,610 |  |  | 16,400 |
Dividends received from subsidiaries | 376,500 |  |  | 357,500 |  |  | 336,300 |
Other | 4,214 |  |  | 20,163 |  |  | (1,300) |
Net cash flow provided by operating activities | 381,608 |  |  | 394,901 |  |  | 289,072 |
Cash flows from investing activities |  |  |  |  |
Investments in subsidiaries | (145,266) |  |  | (137,881) |  |  | 1,557 |
Repayments of loans from subsidiaries | 4,017 |  |  | 932 |  |  | 4,190 |
Advances of loans to subsidiaries | (12,256) |  |  | (7,261) |  |  | (4,165) |
Net cash flow provided by (used for) investing activities | (153,505) |  |  | (144,210) |  |  | 1,582 |
Cash flows from financing activities |  |  |  |  |
Issuance of long-term debt | 300,000 |  |  | 496,950 |  |  | — |
Short-term debt borrowings under revolving credit facility | — |  |  | 211,690 |  |  | 49,000 |
Short-term debt repayments under revolving credit facility | (19,000) |  |  | (230,690) |  |  | (65,000) |
Short-term borrowings and (repayments) — net | (136,700) |  |  | 73,325 |  |  | 54,275 |
Dividends paid on common stock | (369,478) |  |  | (350,577) |  |  | (329,643) |
Repayment of long-term debt | — |  |  | (450,000) |  |  | — |
Common stock equity issuance and purchases — net | (2,350) |  |  | (1,389) |  |  | 692 |
Net cash flow used for financing activities | (227,528) |  |  | (250,691) |  |  | (290,676) |
Net decrease in cash and cash equivalents | 575 |  |  | — |  |  | (22) |
Cash and cash equivalents at beginning of year | 19 |  |  | 19 |  |  | 41 |
Cash and cash equivalents at end of year | $ | 594 |  |  | $ | 19 |  |  | $ | 19 |
See Combined Notes to Consolidated Financial Statements. PINNACLE WEST CAPITAL CORPORATION HOLDING COMPANY NOTES TO FINANCIAL STATEMENTS OF HOLDING COMPANY The Combined Notes to Consolidated Financial Statements in Part II, Item 8 should be read in conjunction with the Pinnacle West Capital Corporation Holding Company Financial Statements. The Pinnacle West Capital Corporation Holding Company Financial Statements have been prepared to present the financial position, results of operations and cash flows of Pinnacle West on a stand-alone basis as a holding company. Investments in subsidiaries are accounted for using the equity method.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123454820&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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