Item 6. SELECTED FINANCIAL DATA

PINNACLE WEST CAPITAL CORPORATION – CONSOLIDATED

The selected data presented below as of and for the years ended December 31, 2016, 2015, 2014, 2013 and 2012 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.



	2016		2015		2014		2013		2012
	(dollars in thousands, except per share amounts)
OPERATING RESULTS
Operating revenues	$	3,498,682	$	3,495,443	$	3,491,632	$	3,454,628	$	3,301,804
Income from continuing operations	$	461,527	$	456,190	$	423,696	$	439,966	$	418,993
Loss from discontinued operations – net of income taxes	—		—		—		—		(5,829		)
Net income	461,527		456,190		423,696		439,966		413,164
Less: Net income attributable to noncontrolling interests	19,493		18,933		26,101		33,892		31,622
Net income attributable to common shareholders	$	442,034	$	437,257	$	397,595	$	406,074	$	381,542
COMMON STOCK DATA
Book value per share – year-end	$	43.14	$	41.30	$	39.50	$	38.07	$	36.20
Earnings per weighted-average common share outstanding:
Continuing operations attributable to common shareholders – basic	$	3.97	$	3.94	$	3.59	$	3.69	$	3.54
Net income attributable to common shareholders – basic	$	3.97	$	3.94	$	3.59	$	3.69	$	3.48
Continuing operations attributable to common shareholders – diluted	$	3.95	$	3.92	$	3.58	$	3.66	$	3.50
Net income attributable to common shareholders – diluted	$	3.95	$	3.92	$	3.58	$	3.66	$	3.45
Dividends declared per share	$	2.56	$	2.44	$	2.33	$	2.23	$	2.67
Weighted-average common shares outstanding – basic	111,408,729		111,025,944		110,626,101		109,984,160		109,510,296
Weighted-average common shares outstanding – diluted	112,046,043		111,552,130		111,178,141		110,805,943		110,527,311
BALANCE SHEET DATA
Total assets	$	16,004,253	$	15,028,258	$	14,288,890	$	13,486,826	$	13,357,123
Liabilities and equity:
Current liabilities	$	1,292,946	$	1,442,317	$	1,559,143	$	1,618,644	$	1,083,542
Long-term debt less current maturities	4,021,785		3,462,391		3,006,573		2,774,605		3,176,596
Deferred credits and other	5,753,610		5,404,093		5,204,072		4,753,117		4,994,696
Total liabilities	11,068,341		10,308,801		9,769,788		9,146,366		9,254,834
Total equity	4,935,912		4,719,457		4,519,102		4,340,460		4,102,289
Total liabilities and equity	$	16,004,253	$	15,028,258	$	14,288,890	$	13,486,826	$	13,357,123

SELECTED FINANCIAL DATA

ARIZONA PUBLIC SERVICE COMPANY – CONSOLIDATED



	2016		2015		2014		2013		2012
	(dollars in thousands)
OPERATING RESULTS
Electric operating revenues	$	3,489,754	$	3,492,357	$	3,488,946	$	3,451,251	$	3,293,489
Fuel and purchased power costs	1,082,625		1,101,298		1,179,829		1,095,709		994,790
Other operating expenses	1,789,149		1,779,075		1,716,325		1,733,677		1,693,170
Operating income	617,980		611,984		592,792		621,865		605,529
Other income	46,744		33,332		36,358		20,797		16,358
Interest expense — net of allowance for borrowed funds	183,090		176,109		181,830		183,801		194,777
Net income	481,634		469,207		447,320		458,861		427,110
Less: Net income attributable to noncontrolling interests	19,493		18,933		26,101		33,892		31,613
Net income attributable to common shareholder	$	462,141	$	450,274	$	421,219	$	424,969	$	395,497
BALANCE SHEET DATA
Total assets	$	15,931,175	$	14,982,182	$	14,190,362	$	13,359,517	$	13,220,050
Liabilities and equity:
Total equity	$	5,037,970	$	4,814,794	$	4,629,852	$	4,454,874	$	4,222,483
Long-term debt less current maturities	4,021,785		3,337,391		2,881,573		2,649,604		3,051,596
Total capitalization	9,059,755		8,152,185		7,511,425		7,104,478		7,274,079
Current liabilities	1,094,037		1,424,708		1,532,464		1,580,847		1,043,087
Deferred credits and other	5,777,383		5,405,289		5,146,473		4,674,192		4,902,884
Total liabilities and equity	$	15,931,175	$	14,982,182	$	14,190,362	$	13,359,517	$	13,220,050

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