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CURRENT REPORTExact Name of Registrant as Specifiedin Charter; State of Incorporation;IRS EmployerCommission File NumberAddress and Telephone NumberIdentification Number1-8962Pinnacle West Capital Corporation
(an Arizona corporation)
400 North Fifth Street, P.O. Box 53999
Phoenix, AZ 85072-3999
(602) 250-100086-05124311-4473Arizona Public Service Company
(an Arizona corporation)
400 North Fifth Street, P.O. Box 53999
Phoenix, AZ 85072-3999
(602) 250-100086-0011170(d) Exhibits.ExhibitNo.Registrant(s)DescriptionPinnacle West
APSEarnings News Release issued on February 19, 2010.Pinnacle West Capital Corporation quarterly
consolidated statistical summary for the
three-month and twelve-month periods ended
December 31, 2009 and 2008.Pinnacle West Capital Corporation Fourth Quarter
2009 slide presentation accompanying February 19,
2010 conference call.Pinnacle West Capital Corporation earnings
variance explanations for the three and twelve
months ended December 31, 2009 and 2008 and
Consolidated Statements of
Income for the three and twelve months ended
December 31, 2009 and 2008.Exhibit IndexExhibit 99.1FOR IMMEDIATE RELEASEFebruary 19, 2010Media Contact:Alan Bunnell, (602) 250-3376Page 1 of 6Analyst Contact:Rebecca Hickman, (602) 250-5668Web site:www.pinnaclewest.comNON-GAAP FINANCIAL MEASURE RECONCILIATION NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS (GAAP MEASURE) TO ON-GOING EARNINGS (NON-GAAP FINANCIAL MEASURE)Three Months EndedDecember 31, 2009December 31, 2008$ inDilutedMillionsEPSPINNACLE WEST CAPITAL CORPORATIONNet Income attributable to common shareholdersAdjustments:Real estate segmentSeverance costsPower plant sale tax resolutionOn-going EarningsARIZONA PUBLIC SERVICE COMPANYNet IncomeAdjustment:Twelve Months EndedIncome tax credits related to prior yearsCONDENSED CONSOLIDATED STATEMENTS OF INCOMETHREE MONTHS ENDEDTWELVE MONTHS ENDEDDECEMBER 31,20092008Operating RevenuesRegulated electricity segmentMarketing and tradingOther revenuesTotalOperating ExpensesRegulated electricity segment fuel and purchased powerReal estate segment operationsReal estate impairment chargeMarketing and trading fuel and purchased powerOperations and maintenanceDepreciation and amortizationTaxes other than income taxesOther expensesOperating IncomeOtherAllowance for equity funds used during constructionOther incomeOther expenseInterest ExpenseInterest chargesCapitalized interestIncome (Loss) From Continuing Operations Before Income TaxesIncome TaxesIncome (Loss) From Continuing OperationsLoss From Discontinued OperationsNet of Income TaxesNet Income (Loss)Less: Net income (loss) attributable to noncontrolling interestsNet Income (Loss)Attributable To Common ShareholdersWeighted-Average Common Shares Outstanding BasicWeighted-Average Common Shares Outstanding DilutedEarnings Per Weighted-Average Common Share OutstandingIncome (loss) from continuing operations attributable to common shareholders basicNet income (loss) attributable to common shareholders basicIncome (loss) from continuing operations attributable to common shareholders -
dilutedNet income (loss) attributable to common shareholders dilutedAmounts Attributable To Common ShareholdersIncome (loss) from continuing operations, net of taxDiscontinued operations, net of taxNet income (loss) attributable to common shareholdersQuarterly Consolidated Statistical Summary Periods Ended December 31, 2009 and 20083 Months Ended December12 Months Ended DecemberLineIncr (Decr)EARNINGS CONTRIBUTION
BY SUBSIDIARY ($ Millions)Arizona Public ServiceAPS Energy ServicesSunCorEl DoradoParent CompanyIncome From Continuing OperationsIncome (Loss) From Discontinued
Operations Net of TaxLess: Net Income (Loss) Attributable
to Noncontrolling InterestsNet Income Attributable
to Common ShareholdersEARNINGS PER SHARE
BY SUBSIDIARY DILUTEDBOOK VALUE PER SHARECOMMON SHARES OUTSTANDING
(Thousands)Average DilutedEnd of PeriodELECTRIC OPERATING
REVENUES (Dollars in Millions)REGULATED ELECTRICITY
SEGMENTRetailResidentialBusinessTotal retailWholesale revenue on delivered
electricityTraditional contractsOff-system salesTransmission for othersOther miscellaneous servicesTotal regulated operating
electricity revenuesMARKETING AND TRADINGElectricity and other
commodity salesTotal operating electric revenuesELECTRIC SALES (GWH)Retail salesWholesale electricity deliveredRetail load hedge managementTotal regulated electricityWholesale sales of electricityTotal electric salesPOWER SUPPLY ADJUSTOR (PSA)
REGULATED ELECTRICITY
SEGMENT (Dollars in Millions)Deferred fuel and purchased power
regulatory asset beginning balanceDeferred fuel and purchased power
costs current periodInterest on deferred fuelAmounts recovered through revenuesDeferred fuel and purchased power
regulatory asset ending balanceAVERAGE ELECTRIC CUSTOMERSRetail customersWholesale customersTotal customersCustomer growth (% over prior year)0.5%1.0%(0.5)%0.6%1.4%(0.8RETAIL SALES (GWH)
WEATHER NORMALIZEDRETAIL USAGE
(KWh/Average Customer)RETAIL USAGE
WEATHER NORMALIZED
(KWh/Average Customer)ELECTRICITY DEMAND (MW)Native load peak demandWEATHER INDICATORSActualCooling degree-daysHeating degree-daysAverage humidity31%36%(528%32%(410-Year Averages41%38%3%34%33%1%ENERGY SOURCES (GWH)Generation productionNuclearCoalGas, oil and otherTotal generation productionPurchased powerFirm loadTotal purchased powerTotal energy sourcesPOWER PLANT PERFORMANCECapacity Factors74%0%89%84%5%86%(382%18%20%22%(2System average47%48%(150%51%ECONOMIC INDICATORSBuilding Permits Metro Phoenix (a)Single-familyMulti-familyArizona Job Growth (b)Payroll job growth (% over prior year)(5.7(3.6(2.1(6.7(1.6(5.1Unemployment rate
(%, seasonally adjusted)9.1%6.4%2.7%8.5%5.1%3.4%Operating Results — Three-month period ended December 31, 2009 compared with three-month period ended December 31, 2008Increase(Decrease)in Net IncomeAttributableDecember 31,to CommonShareholders(dollars in millions)Regulated Electricity Segment:Operating revenues less fuel and purchased
power expensesOther income (expenses), netInterest charges, net of capitalized
financing costsIncome taxesRegulated electricity segment net lossReal Estate Segment:Real estate impairment chargesOther real estate operationsReal estate segment net lossAll other (a)Net Loss Attributable to Common
ShareholdersOperating Results — 2009 Compared with 2008Year EndedOperating revenues less fuel and
purchased power expensesRegulated electricity segment net
incomeAll Other
(a)Net Income Attributable to Common
ShareholdersPINNACLE WEST CAPITAL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOMEIncrease (Decrease)AmountPercent% B% WLoss From Continuing Operations Before Income TaxesLoss From Continuing OperationsLoss From Discontinued Operations
Net of Income TaxesNet LossLess: Net loss attributable to noncontrolling interestsNet Loss Attributable To Common ShareholdersLoss from continuing operations attributable to common shareholders basicNet loss attributable to common shareholders basicLoss from continuing operations attributable to common shareholders dilutedNet loss attributable to common shareholders dilutedLoss from continuing operations, net of taxNet loss attributable to common shareholdersIncome From Continuing Operations Before Income TaxesIncome (Loss) From Discontinued OperationsLess: Net income (loss) attributable
to noncontrolling interestsNet Income Attributable To Common Shareholders0.3%Income from continuing operations attributable to
common shareholders basicNet income attributable to common shareholders basicIncome from continuing operations attributable to
common shareholders dilutedNet income attributable to common shareholders dilutedIncome from continuing operations, net of taxPK ! cIǣ docProps/app.xml
Microsoft Excel0falseWorksheets15current reportd exhibitsexhibit indexexhibit 991nongaap financial measurenongaap financial measure -1condensed consolidated staquarterly consolidated staquarterly consolidated sta-1quarterly consolidated sta-2quarterly consolidated sta-3operating results threemooperating results 2009 copinnacle west capital corppinnacle west capital corp-1falsefalsefalse12.0000PK ! N&P P docProps/core.xml
2020-01-27T14:16:29Z2020-01-27T14:16:29ZPK ! Mn [Content_Types].xml
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