Item 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, 2017, 2016, 2015, 2014 and 2013 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.



	2017		2016		2015		2014		2013
	(dollars in thousands, except per share amounts)
OPERATING RESULTS
Operating revenues	$	3,565,296	$	3,498,682	$	3,495,443	$	3,491,632	$	3,454,628
Net income	507,949		461,527		456,190		423,696		439,966
Less: Net income attributable to noncontrolling interests	19,493		19,493		18,933		26,101		33,892
Net income attributable to common shareholders	$	488,456	$	442,034	$	437,257	$	397,595	$	406,074
COMMON STOCK DATA
Book value per share – year-end	$	44.80	$	43.14	$	41.30	$	39.50	$	38.07
Earnings per weighted-average common share outstanding:
Net income attributable to common shareholders – basic	$	4.37	$	3.97	$	3.94	$	3.59	$	3.69
Net income attributable to common shareholders – diluted	$	4.35	$	3.95	$	3.92	$	3.58	$	3.66
Dividends declared per share	$	2.70	$	2.56	$	2.44	$	2.33	$	2.23
Weighted-average common shares outstanding – basic	111,838,922		111,408,729		111,025,944		110,626,101		109,984,160
Weighted-average common shares outstanding – diluted	112,366,675		112,046,043		111,552,130		111,178,141		110,805,943
BALANCE SHEET DATA
Total assets	$	17,019,082	$	16,004,253	$	15,028,258	$	14,288,890	$	13,486,826
Liabilities and equity:
Current liabilities	$	1,197,852	$	1,292,946	$	1,442,317	$	1,559,143	$	1,618,644
Long-term debt less current maturities	4,789,713		4,021,785		3,462,391		3,006,573		2,774,605
Deferred credits and other	5,895,787		5,753,610		5,404,093		5,204,072		4,753,117
Total liabilities	11,883,352		11,068,341		10,308,801		9,769,788		9,146,366
Total equity	5,135,730		4,935,912		4,719,457		4,519,102		4,340,460
Total liabilities and equity	$	17,019,082	$	16,004,253	$	15,028,258	$	14,288,890	$	13,486,826

SELECTED FINANCIAL DATA

ARIZONA PUBLIC SERVICE COMPANY – CONSOLIDATED



	2017		2016		2015		2014		2013
	(dollars in thousands)
OPERATING RESULTS
Electric operating revenues	$	3,554,139	$	3,489,754	$	3,492,357	$	3,488,946	$	3,451,251
Fuel and purchased power costs	992,744		1,082,625		1,101,298		1,179,829		1,095,709
Other operating expenses	1,881,826		1,789,149		1,779,075		1,716,325		1,733,677
Operating income	679,569		617,980		611,984		592,792		621,865
Other income	36,284		46,744		33,332		36,358		20,797
Interest expense — net of allowance for borrowed funds	192,051		183,090		176,109		181,830		183,801
Net income	523,802		481,634		469,207		447,320		458,861
Less: Net income attributable to noncontrolling interests	19,493		19,493		18,933		26,101		33,892
Net income attributable to common shareholder	$	504,309	$	462,141	$	450,274	$	421,219	$	424,969
BALANCE SHEET DATA
Total assets	$	16,893,751	$	15,931,175	$	14,982,182	$	14,190,362	$	13,359,517
Liabilities and equity:
Total equity	$	5,385,869	$	5,037,970	$	4,814,794	$	4,629,852	$	4,454,874
Long-term debt less current maturities	4,491,292		4,021,785		3,337,391		2,881,573		2,649,604
Total capitalization	9,877,161		9,059,755		8,152,185		7,511,425		7,104,478
Current liabilities	1,098,274		1,094,037		1,424,708		1,532,464		1,580,847
Deferred credits and other	5,918,316		5,777,383		5,405,289		5,146,473		4,674,192
Total liabilities and equity	$	16,893,751	$	15,931,175	$	14,982,182	$	14,190,362	$	13,359,517

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