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v3.25.3

Business Segments (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
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 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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