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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2024
Accounting Policies [Abstract] |
Schedule of Property, Plant and Equipment | Pinnacle West’s property, plant and equipment included in the December 31, 2024, and 2023 Consolidated Balance Sheets is composed of the following (dollars in thousands):
Property, Plant and Equipment: | 2024 |  | 2023
Generation | $ | 11,111,915 |  |  | $ | 10,446,291 |
Transmission | 4,135,970 |  |  | 3,773,253 |
Distribution | 9,016,843 |  |  | 8,448,293 |
General plant | 1,596,222 |  |  | 1,543,330 |
Plant in service and held for future use | 25,860,950 |  |  | 24,211,167 |
Accumulated depreciation and amortization | (9,027,426) |  |  | (8,408,040) |
Net | 16,833,524 |  |  | 15,803,127 |
Construction work in progress | 1,592,659 |  |  | 1,724,004 |
Palo Verde sale leaseback, net of accumulated depreciation | 82,556 |  |  | 86,426 |
Intangible assets, net of accumulated amortization | 591,310 |  |  | 267,110 |
Nuclear fuel, net of accumulated amortization | 97,850 |  |  | 99,490 |
Total property, plant and equipment | $ | 19,197,899 |  |  | $ | 17,980,157 |
Schedule of Supplemental Cash Flow Information | The following table summarizes supplemental Pinnacle West cash flow information for each of the last three years (dollars in thousands):
|  |  |  | Year Ended December 31,
|  |  |  |  |  | 2024 |  | 2023 |  | 2022
Cash paid during the period for: |  |  |  |  |  |  |  |  |  |
Income taxes, net of refunds |  |  |  |  |  | $ | 133,968 |  |  | $ | 8,788 |  |  | $ | 46,227 |
Interest, net of amounts capitalized |  |  |  |  |  | 360,349 |  |  | 310,996 |  |  | 245,271 |
Significant non-cash investing and financing activities: |  |  |  |  |  |  |  |  |  |
Accrued capital expenditures |  |  |  |  |  | $ | 257,494 |  |  | $ | 206,269 |  |  | $ | 114,999 |
Dividends accrued but not yet paid |  |  |  |  |  | 106,592 |  |  | 99,813 |  |  | 97,895 |
BCE Sale non-cash consideration (Note 20) |  |  |  |  |  | — |  |  | 28,262 |  |  | — |
The following table summarizes supplemental APS cash flow information for each of the last three years (dollars in thousands):
|  |  |  | Year Ended December 31,
|  |  |  |  |  | 2024 |  | 2023 |  | 2022
Cash paid during the period for: |  |  |  |  |  |  |  |  |  |
Income taxes, net of refunds |  |  |  |  |  | $ | 179,013 |  |  | $ | 21,734 |  |  | $ | 95,985 |
Interest, net of amounts capitalized |  |  |  |  |  | 299,799 |  |  | 267,261 |  |  | 227,159 |
Significant non-cash investing and financing activities: |  |  |  |  |  |  |  |  |  |
Accrued capital expenditures |  |  |  |  |  | $ | 257,494 |  |  | $ | 206,269 |  |  | $ | 116,533 |
Dividends accrued but not yet paid |  |  |  |  |  | 107,200 |  |  | 99,800 |  |  | 97,900 |
Schedule Of Reportable Segment’s Revenues, Significant Expenses, Net Income, And Assets | The following tables reconcile our reportable segment’s revenues, significant expenses, net income, and assets to the Pinnacle West Consolidated amounts (dollars in millions):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| Regulated Electricity Segment | Other | Pinnacle West Consolidated |  | Regulated Electricity Segment | Other | Pinnacle West Consolidated |  | Regulated Electricity Segment | Other | Pinnacle West Consolidated
Operating Revenues | $ | 5,125 |  | $ | — |  | $ | 5,125 |  |  | $ | 4,696 |  | $ | — |  | $ | 4,696 |  |  | $ | 4,324 |  | $ | — |  | $ | 4,324 |
Fuel & Purchase Power | (1,823) |  | — |  | (1,823) |  |  | (1,793) |  | — |  | (1,793) |  |  | (1,629) |  | — |  | (1,629) |
Operations & Maintenance | (1,159) |  | (6) |  | (1,165) |  |  | (1,044) |  | (15) |  | (1,059) |  |  | (974) |  | (13) |  | (987) |
Depreciation & Amortization | (895) |  | — |  | (895) |  |  | (794) |  | — |  | (794) |  |  | (753) |  | — |  | (753) |
Taxes other than income taxes | (227) |  | — |  | (227) |  |  | (224) |  | — |  | (224) |  |  | (220) |  | — |  | (220) |
Pension and other postretirement non-service credits, net | 49 |  | — |  | 49 |  |  | 42 |  | (1) |  | 41 |  |  | 99 |  | (1) |  | 98 |
Other income and expenses, net (a) | 28 |  | 22 |  | 50 |  |  | 60 |  | — |  | 60 |  |  | 22 |  | (23) |  | (1) |
Interest expense and costs | (312) |  | (65) |  | (377) |  |  | (285) |  | (46) |  | (331) |  |  | (236) |  | (20) |  | (256) |
Income Taxes | (127) |  | 16 |  | (111) |  |  | (94) |  | 17 |  | (77) |  |  | (91) |  | 16 |  | (75) |
Less: income related to noncontrolling interest | (17) |  | — |  | (17) |  |  | (17) |  | — |  | (17) |  |  | (17) |  | — |  | (17) |
Net Income (loss) | $ | 642 |  | $ | (33) |  | $ | 609 |  |  | $ | 547 |  | $ | (45) |  | $ | 502 |  |  | $ | 525 |  | $ | (41) |  | $ | 484 |
(a) See Note 16 for additional details regarding other income and other expenses. Other income includes allowance for equity funds used during construction, see the APS Consolidated Income Statements.
| December 31, 2024 |  | December 31, 2023
| Regulated Electricity Segment | Other | PNW Consolidated |  | Regulated Electricity Segment | Other | PNW Consolidated
Total Assets | $ | 25,988 |  | $ | 115 |  | $ | 26,103 |  |  | $ | 24,516 |  | $ | 145 |  | $ | 24,661 |

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