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v3.26.1

Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2026
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 June 30,
| 2026 |  | 2025
| Regulated Electricity Segment |  | Other |  | Pinnacle West Consolidated |  | Regulated Electricity Segment |  | Other |  | Pinnacle West Consolidated
Operating revenues | $ | 1,456 |  |  | $ | — |  |  | $ | 1,456 |  |  | $ | 1,359 |  |  | $ | — |  |  | $ | 1,359 |
Fuel and purchased power | (558) |  |  | — |  |  | (558) |  |  | (477) |  |  | — |  |  | (477) |
Operations and maintenance | (281) |  |  | (2) |  |  | (283) |  |  | (285) |  |  | (2) |  |  | (287) |
Depreciation and amortization | (243) |  |  | — |  |  | (243) |  |  | (229) |  |  | — |  |  | (229) |
Taxes other than income taxes | (62) |  |  | — |  |  | (62) |  |  | (58) |  |  | — |  |  | (58) |
Allowance for equity funds used during construction | 17 |  |  | — |  |  | 17 |  |  | 15 |  |  | — |  |  | 15 |
Pension and other postretirement non-service credits, net | 5 |  |  | — |  |  | 5 |  |  | 4 |  |  | — |  |  | 4 |
Other income and (expense), net | (8) |  |  | 10 |  |  | 2 |  |  | (2) |  |  | 9 |  |  | 7 |
Interest charges, net of allowance for borrowed funds used during construction | (97) |  |  | (25) |  |  | (122) |  |  | (80) |  |  | (22) |  |  | (102) |
Income (taxes) benefit | (36) |  |  | 5 |  |  | (31) |  |  | (39) |  |  | 4 |  |  | (35) |
Less: Net income attributable to noncontrolling interests | (2) |  |  | — |  |  | (2) |  |  | (4) |  |  | — |  |  | (4) |
Net Income (Loss) Attributable to Common Shareholders | $ | 191 |  |  | $ | (12) |  |  | $ | 179 |  |  | $ | 204 |  |  | $ | (11) |  |  | $ | 193 |
| Six Months Ended June 30,
| 2026 |  | 2025 |  |
| Regulated Electricity Segment |  | Other |  | Pinnacle West Consolidated |  | Regulated Electricity Segment |  | Other |  | Pinnacle West Consolidated |  |  |  |  |  |
Operating revenues | $ | 2,605 |  |  | $ | — |  |  | $ | 2,605 |  |  | $ | 2,391 |  |  | $ | — |  |  | $ | 2,391 |  |  |  |  |  |  |
Fuel and purchased power | (995) |  |  | — |  |  | (995) |  |  | (857) |  |  | — |  |  | (857) |  |  |  |  |  |  |
Operations and maintenance | (554) |  |  | (6) |  |  | (560) |  |  | (582) |  |  | (5) |  |  | (587) |  |  |  |  |  |  |
Depreciation and amortization | (483) |  |  | — |  |  | (483) |  |  | (464) |  |  | — |  |  | (464) |  |  |  |  |  |  |
Taxes other than income taxes | (124) |  |  | — |  |  | (124) |  |  | (117) |  |  | — |  |  | (117) |  |  |  |  |  |  |
Allowance for equity funds used during construction | 32 |  |  | — |  |  | 32 |  |  | 28 |  |  | — |  |  | 28 |  |  |  |  |  |  |
Pension and other postretirement non-service credits, net | 9 |  |  | — |  |  | 9 |  |  | 7 |  |  | — |  |  | 7 |  |  |  |  |  |  |
Other income and (expense), net | (10) |  |  | 11 |  |  | 1 |  |  | 2 |  |  | 20 |  |  | 22 |  |  |  |  |  |  |
Interest charges, net of allowance for borrowed funds used during construction | (189) |  |  | (49) |  |  | (238) |  |  | (159) |  |  | (38) |  |  | (197) |  |  |  |  |  |  |
Income taxes | (44) |  |  | 12 |  |  | (32) |  |  | (36) |  |  | 7 |  |  | (29) |  |  |  |  |  |  |
Less: Net income attributable to noncontrolling interests | (4) |  |  | — |  |  | (4) |  |  | (9) |  |  | — |  |  | (9) |  |  |  |  |  |  |
Net Income (Loss) Attributable to Common Shareholders | $ | 243 |  |  | $ | (32) |  |  | $ | 211 |  |  | $ | 204 |  |  | $ | (16) |  |  | $ | 188 |  |  |  |  |  |  |
The following table reconciles our reportable segment’s assets to the Pinnacle West consolidated amount (dollars in millions):
| June 30, 2026 |  | December 31, 2025
| Regulated Electricity Segment |  | Other |  | Pinnacle West Consolidated |  | Regulated Electricity Segment |  | Other |  | Pinnacle West Consolidated
Total Assets | $ | 32,401 |  |  | $ | 176 |  |  | $ | 32,577 |  |  | $ | 29,886 |  |  | $ | 146 |  |  | $ | 30,032 |

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- Definition Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 + Details
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