filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
PINNACLE WEST CAPITAL CORPORATION – CONSOLIDATED
The selected data presented below as of and for the years ended December 31, 2015, 2014, 2013, 2012 and 2011 are derived from the Consolidated Financial Statements. The data should be read in connection with the Consolidated Financial Statements including the related notes included in Item 8 of this Form 10-K.
| 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
| (dollars in thousands, except per share amounts) | ||||||||||||||||||||
| OPERATING RESULTS | ||||||||||||||||||||
| Operating revenues | $ | 3,495,443 | $ | 3,491,632 | $ | 3,454,628 | $ | 3,301,804 | $ | 3,241,379 | ||||||||||
| Income from continuing operations | $ | 456,190 | $ | 423,696 | $ | 439,966 | $ | 418,993 | $ | 355,634 | ||||||||||
| Income (loss) from discontinued operations – net of income taxes | — | — | — | (5,829 | ) | 11,306 | ||||||||||||||
| Net income | 456,190 | 423,696 | 439,966 | 413,164 | 366,940 | |||||||||||||||
| Less: Net income attributable to noncontrolling interests | 18,933 | 26,101 | 33,892 | 31,622 | 27,467 | |||||||||||||||
| Net income attributable to common shareholders | $ | 437,257 | $ | 397,595 | $ | 406,074 | $ | 381,542 | $ | 339,473 | ||||||||||
| COMMON STOCK DATA | ||||||||||||||||||||
| Book value per share – year-end | $ | 41.30 | $ | 39.50 | $ | 38.07 | $ | 36.20 | $ | 34.98 | ||||||||||
| Earnings per weighted-average common share outstanding: | ||||||||||||||||||||
| Continuing operations attributable to common shareholders – basic | $ | 3.94 | $ | 3.59 | $ | 3.69 | $ | 3.54 | $ | 3.01 | ||||||||||
| Net income attributable to common shareholders – basic | $ | 3.94 | $ | 3.59 | $ | 3.69 | $ | 3.48 | $ | 3.11 | ||||||||||
| Continuing operations attributable to common shareholders – diluted | $ | 3.92 | $ | 3.58 | $ | 3.66 | $ | 3.50 | $ | 2.99 | ||||||||||
| Net income attributable to common shareholders – diluted | $ | 3.92 | $ | 3.58 | $ | 3.66 | $ | 3.45 | $ | 3.09 | ||||||||||
| Dividends declared per share | $ | 2.44 | $ | 2.33 | $ | 2.23 | $ | 2.67 | $ | 2.10 | ||||||||||
| Weighted-average common shares outstanding – basic | 111,025,944 | 110,626,101 | 109,984,160 | 109,510,296 | 109,052,840 | |||||||||||||||
| Weighted-average common shares outstanding – diluted | 111,552,130 | 111,178,141 | 110,805,943 | 110,527,311 | 109,864,243 | |||||||||||||||
| BALANCE SHEET DATA (a) | ||||||||||||||||||||
| Total assets | $ | 15,028,258 | $ | 14,288,890 | $ | 13,486,826 | $ | 13,357,123 | $ | 13,089,837 | ||||||||||
| Liabilities and equity: | ||||||||||||||||||||
| Current liabilities | $ | 1,442,317 | $ | 1,559,143 | $ | 1,618,644 | $ | 1,083,542 | $ | 1,342,705 | ||||||||||
| Long-term debt less current maturities | 3,462,391 | 3,006,573 | 2,774,605 | 3,176,596 | 2,997,873 | |||||||||||||||
| Deferred credits and other | 5,404,093 | 5,204,072 | 4,753,117 | 4,994,696 | 4,818,673 | |||||||||||||||
| Total liabilities | 10,308,801 | 9,769,788 | 9,146,366 | 9,254,834 | 9,159,251 | |||||||||||||||
| Total equity | 4,719,457 | 4,519,102 | 4,340,460 | 4,102,289 | 3,930,586 | |||||||||||||||
| Total liabilities and equity | $ | 15,028,258 | $ | 14,288,890 | $ | 13,486,826 | $ | 13,357,123 | $ | 13,089,837 |
(a) During the fourth quarter of 2015, we adopted the new accounting standard related to balance sheet presentation of debt issuance costs. See further discussion in Note 2.
SELECTED FINANCIAL DATA
ARIZONA PUBLIC SERVICE COMPANY – CONSOLIDATED
| 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
| (dollars in thousands) | ||||||||||||||||||||
| OPERATING RESULTS | ||||||||||||||||||||
| Electric operating revenues | $ | 3,492,357 | $ | 3,488,946 | $ | 3,451,251 | $ | 3,293,489 | $ | 3,237,241 | ||||||||||
| Fuel and purchased power costs | 1,101,298 | 1,179,829 | 1,095,709 | 994,790 | 1,009,464 | |||||||||||||||
| Other operating expenses | 1,779,075 | 1,716,325 | 1,733,677 | 1,693,170 | 1,673,394 | |||||||||||||||
| Operating income | 611,984 | 592,792 | 621,865 | 605,529 | 554,383 | |||||||||||||||
| Other income | 33,332 | 36,358 | 20,797 | 16,358 | 24,974 | |||||||||||||||
| Interest expense — net of allowance for borrowed funds | 176,109 | 181,830 | 183,801 | 194,777 | 215,584 | |||||||||||||||
| Net income | 469,207 | 447,320 | 458,861 | 427,110 | 363,773 | |||||||||||||||
| Less: Net income attributable to noncontrolling interests | 18,933 | 26,101 | 33,892 | 31,613 | 27,524 | |||||||||||||||
| Net income attributable to common shareholder | $ | 450,274 | $ | 421,219 | $ | 424,969 | $ | 395,497 | $ | 336,249 | ||||||||||
| BALANCE SHEET DATA (a) | ||||||||||||||||||||
| Total assets | $ | 14,982,182 | $ | 14,190,362 | $ | 13,359,517 | $ | 13,220,050 | $ | 13,011,056 | ||||||||||
| Liabilities and equity: | ||||||||||||||||||||
| Total equity | $ | 4,814,794 | $ | 4,629,852 | $ | 4,454,874 | $ | 4,222,483 | $ | 4,051,406 | ||||||||||
| Long-term debt less current maturities | 3,337,391 | 2,881,573 | 2,649,604 | 3,051,596 | 2,872,872 | |||||||||||||||
| Total capitalization | 8,152,185 | 7,511,425 | 7,104,478 | 7,274,079 | 6,924,278 | |||||||||||||||
| Current liabilities | 1,424,708 | 1,532,464 | 1,580,847 | 1,043,087 | 1,322,714 | |||||||||||||||
| Deferred credits and other | 5,405,289 | 5,146,473 | 4,674,192 | 4,902,884 | 4,764,064 | |||||||||||||||
| Total liabilities and equity | $ | 14,982,182 | $ | 14,190,362 | $ | 13,359,517 | $ | 13,220,050 | $ | 13,011,056 |
(a) During the fourth quarter of 2015, we adopted the new accounting standard related to balance sheet presentation of debt issuance costs. See further discussion in Note 2.
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