PINNACLE WEST CAPITAL CORPORATION (PNW) FY2026 YTD Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-06-30

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PINNACLE WEST CAPITAL CORPORATION cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $215,881,000.00Depreciation and amortization including nuclear fuel → Operating adjustments reconciliation: $517,249,000.00Deferred fuel and purchased power amortization → Operating adjustments reconciliation: $279,830,000.00Change in other long-term liabilities → Operating adjustments reconciliation: $211,877,000.00Change in operating lease assets → Operating adjustments reconciliation: $32,746,000.00Deferred income taxes → Operating adjustments reconciliation: $23,893,000.00Other current liabilities → Operating adjustments reconciliation: $21,552,000.00Change in long-term regulatory assets → Operating adjustments reconciliation: $19,074,000.00Stock compensation → Operating adjustments reconciliation: $12,858,000.00Change in long-term regulatory liabilities → Operating adjustments reconciliation: $8,863,000.00Income tax receivable → Operating adjustments reconciliation: $2,485,000.00Accrued taxes → Operating adjustments reconciliation: $2,307,000.00Operating adjustments reconciliation → Net cash from operating activities: $413,391,000.00Operating adjustments reconciliation → Customer and other receivables: $199,090,000.00Operating adjustments reconciliation → Change in other long-term assets: $126,896,000.00Operating adjustments reconciliation → Accrued unbilled revenues: $109,320,000.00Operating adjustments reconciliation → Deferred fuel and purchased power: $69,325,000.00Operating adjustments reconciliation → Materials, supplies and fossil fuel: $60,087,000.00Operating adjustments reconciliation → Accounts payable: $49,408,000.00Operating adjustments reconciliation → Other current assets: $43,243,000.00Operating adjustments reconciliation → Allowance for equity funds used during construction: $31,834,000.00Operating adjustments reconciliation → Change in operating lease liabilities: $24,887,000.00Operating adjustments reconciliation → Deferred investment tax credit: $5,253,000.00Issuance of long-term debt → financing reconciliation: $1,092,665,000.00Short-term borrowings and (repayments), net → financing reconciliation: $61,595,000.00financing reconciliation → Net cash from financing activities: $573,546,000.00financing reconciliation → Repayment of long-term debt: $350,000,000.00financing reconciliation → Dividends paid on common stock: $218,740,000.00financing reconciliation → Common stock equity issuance and (purchases), net: $7,302,000.00financing reconciliation → Capital activities by noncontrolling interests: $4,672,000.00Net cash used in investing activities → investing reconciliation: $1,200,298,000.00Proceeds from nuclear decommissioning trusts sales and other special use funds → investing reconciliation: $997,627,000.00Contributions in aid of construction → investing reconciliation: $177,299,000.00investing reconciliation → Capital expenditures: $1,357,028,000.00investing reconciliation → Investment in nuclear decommissioning trusts and other special use funds: $990,269,000.00investing reconciliation → Allowance for borrowed funds used during construction: $21,265,000.00investing reconciliation → Other: $6,662,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $6,604,000.00Net cash from operating activities → Cash sources and uses: $629,272,000.00Net cash from financing activities → Cash sources and uses: $573,546,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $9,124,000.00Cash sources and uses → Net cash used in investing activities: $1,200,298,000.00Net income: $215,881,000.00Net income+$215.88 MDepreciation and amortization including nuclear fuel: $517,249,000.00Depreciation & amortization+$517.25 MAllowance for equity funds used during construction: -$31,834,000.00Equity AFUDC−$31.83 MDeferred income taxes: $23,893,000.00Deferred income taxes+$23.89 MDeferred investment tax credit: -$5,253,000.00Deferred investment tax credit−$5.25 MStock compensation: $12,858,000.00Stock-based compensation+$12.86 MCustomer and other receivables: -$199,090,000.00Accounts & notes receivable−$199.09 MAccrued unbilled revenues: -$109,320,000.00Contract assets−$109.32 MMaterials, supplies and fossil fuel: -$60,087,000.00Inventories−$60.09 MIncome tax receivable: $2,485,000.00Income taxes receivable+$2.49 MDeferred fuel and purchased power: -$69,325,000.00Deferred fuel & purchased power−$69.33 MDeferred fuel and purchased power amortization: $279,830,000.00Deferred fuel & power amort.+$279.83 MOther current assets: -$43,243,000.00Prepaid expenses−$43.24 MAccounts payable: -$49,408,000.00Accounts payable−$49.41 MAccrued taxes: $2,307,000.00Accrued taxes+$2.31 MOther current liabilities: $21,552,000.00Other accrued liabilities+$21.55 MChange in long-term regulatory assets: $19,074,000.00Regulatory assets+$19.07 MChange in long-term regulatory liabilities: $8,863,000.00Regulatory liabilities+$8.86 MChange in other long-term assets: -$126,896,000.00Other operating assets−$126.90 MChange in operating lease assets: $32,746,000.00Change in operating lease assets+$32.75 MChange in other long-term liabilities: $211,877,000.00Other operating liabilities+$211.88 MChange in operating lease liabilities: -$24,887,000.00Operating lease liabilities−$24.89 MNet cash from operating activities: $629,272,000.00Operating cash+$629.27 MOperating adjustments reconciliation: $1,132,734,000.00Issuance of long-term debt: $1,092,665,000.00Other long-term debt issued+$1.09 BRepayment of long-term debt: -$350,000,000.00Other long-term debt repaid−$350.00 MShort-term borrowings and (repayments), net: $61,595,000.00Short-term debt, net+$61.60 MShort-term debt borrowings under term loan facility: $0.00Dividends paid on common stock: -$218,740,000.00Common dividends paid−$218.74 MCommon stock equity issuance and (purchases), net: -$7,302,000.00Common stock issuance, net−$7.30 MCapital activities by noncontrolling interests: -$4,672,000.00Paid to noncontrolling interests−$4.67 MNet cash from financing activities: $573,546,000.00Financing cash+$573.55 Mfinancing reconciliation: $1,154,260,000.00Capital expenditures: -$1,357,028,000.00Capital expenditures−$1.36 BContributions in aid of construction: $177,299,000.00Construction aid received+$177.30 MAllowance for borrowed funds used during construction: -$21,265,000.00Construction borrowed funds−$21.27 MProceeds from nuclear decommissioning trusts sales and other special use funds: $997,627,000.00Decommissioning trust sales+$997.63 MInvestment in nuclear decommissioning trusts and other special use funds: -$990,269,000.00Decommissioning trust purchases−$990.27 MOther: -$6,662,000.00Other investing, net−$6.66 MNet cash used in investing activities: -$1,200,298,000.00. Cash required to fund net payments.Investing cash−$1.20 Binvesting reconciliation: $2,375,224,000.00Cash sources and uses: $1,209,422,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $6,604,000.00Beginning cash$6.60 MEnding cash: Cash, cash equivalents, and restricted cash: $9,124,000.00Ending cash$9.12 MCASH RECONCILIATIONOperatingflowsFinancingflowsInvestingflowsFree cash flow−$727.76 MOperating cash − cash spent on productive assetsCash flow / Net income2.91×Operating cash flow ÷ net incomeNet cash change+$2.52 MEnding cash − beginning cash
Chart details

PINNACLE WEST CAPITAL CORPORATION cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026

Cash flows for Jan 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
6,604,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
629,272,000 US dollars. Net cash provided.
Net income
215,881,000 US dollars
Depreciation and amortization including nuclear fuel
517,249,000 US dollars
Allowance for equity funds used during construction
negative 31,834,000 US dollars
Deferred income taxes
23,893,000 US dollars
Deferred investment tax credit
negative 5,253,000 US dollars
Stock compensation
12,858,000 US dollars
Customer and other receivables
negative 199,090,000 US dollars
Accrued unbilled revenues
negative 109,320,000 US dollars
Materials, supplies and fossil fuel
negative 60,087,000 US dollars
Income tax receivable
2,485,000 US dollars
Deferred fuel and purchased power
negative 69,325,000 US dollars
Deferred fuel and purchased power amortization
279,830,000 US dollars
Other current assets
negative 43,243,000 US dollars
Accounts payable
negative 49,408,000 US dollars
Accrued taxes
2,307,000 US dollars
Other current liabilities
21,552,000 US dollars
Change in long-term regulatory assets
19,074,000 US dollars
Change in long-term regulatory liabilities
8,863,000 US dollars
Change in other long-term assets
negative 126,896,000 US dollars
Change in operating lease assets
32,746,000 US dollars
Change in other long-term liabilities
211,877,000 US dollars
Change in operating lease liabilities
negative 24,887,000 US dollars
Investing activities
negative 1,200,298,000 US dollars. Net cash used.
Capital expenditures
negative 1,357,028,000 US dollars
Contributions in aid of construction
177,299,000 US dollars
Allowance for borrowed funds used during construction
negative 21,265,000 US dollars
Proceeds from nuclear decommissioning trusts sales and other special use funds
997,627,000 US dollars
Investment in nuclear decommissioning trusts and other special use funds
negative 990,269,000 US dollars
Other
negative 6,662,000 US dollars
Financing activities
573,546,000 US dollars. Net cash provided.
Issuance of long-term debt
1,092,665,000 US dollars
Repayment of long-term debt
negative 350,000,000 US dollars
Short-term borrowings and (repayments), net
61,595,000 US dollars
Short-term debt borrowings under term loan facility
0 US dollars
Dividends paid on common stock
negative 218,740,000 US dollars
Common stock equity issuance and (purchases), net
negative 7,302,000 US dollars
Capital activities by noncontrolling interests
negative 4,672,000 US dollars
Operating adjustment reconciliation
1,132,734,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
1,154,260,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
2,375,224,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
0 US dollars
Ending cash on Jun 30, 2026
9,124,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
1,209,422,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
2,520,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
2.91×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
629,272,000 US dollars. Operating cash flow used in the free cash flow calculation.
cash spent on productive assets
1,357,028,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
negative 727,756,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $413.39M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash spent on productive assets equals free cash flow: 629,272,000 US dollars minus 1,357,028,000 US dollars equals negative 727,756,000 US dollars.
PINNACLE WEST CAPITAL CORPORATION (PNW) FY2026 YTD Q2 Statement of Cash Flows Sankey chart
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