Exhibit 99.2
Last Updated 2/24/2012
Pinnacle West Capital Corporation
Quarterly Consolidated Statistical Summary
Periods Ended December 31, 2011 and 2010
|
|
|
| 3 Months Ended December |
| 12 Months Ended December |
| ||||||||||||||
Line |
|
|
| 2011 |
| 2010 |
| Incr (Decr) |
| 2011 |
| 2010 |
| Incr (Decr) |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| EARNINGS CONTRIBUTION BY SUBSIDIARY ($ Millions) |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
1 |
| Arizona Public Service |
| $ | 22 |
| $ | 13 |
| $ | 9 |
| $ | 364 |
| $ | 356 |
| $ | 8 |
|
2 |
| APS Energy Services |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||
3 |
| SunCor |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||
4 |
| El Dorado |
| — |
| — |
| — |
| — |
| 2 |
| (2 | ) | ||||||
5 |
| Parent Company |
| (2 | ) | (3 | ) | 1 |
| (8 | ) | (13 | ) | 5 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
6 |
| Income From Continuing Operations |
| 20 |
| 10 |
| 10 |
| 356 |
| 345 |
| 11 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| Income (Loss) From Discontinued Operations - Net of Tax |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
7 |
| SunCor |
| — |
| — |
| — |
| (2 | ) | (9 | ) | 7 |
| ||||||
8 |
| Other |
| — |
| 2 |
| (2 | ) | 13 |
| 34 |
| (21 | ) | ||||||
9 |
| Total |
| — |
| 2 |
| (2 | ) | 11 |
| 25 |
| (14 | ) | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
10 |
| Net Income |
| 20 |
| 12 |
| 8 |
| 367 |
| 370 |
| (3 | ) | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
11 |
| Less: Net Income (Loss) Attributable to Noncontrolling Interests |
| 7 |
| 5 |
| 2 |
| 28 |
| 20 |
| 8 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
12 |
| Net Income Attributable to Common Shareholders |
| $ | 13 |
| $ | 7 |
| $ | 6 |
| $ | 339 |
| $ | 350 |
| $ | (11 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| EARNINGS PER SHARE BY SUBSIDIARY - DILUTED |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
13 |
| Arizona Public Service |
| $ | 0.20 |
| $ | 0.12 |
| $ | 0.08 |
| $ | 3.31 |
| $ | 3.32 |
| $ | (0.01 | ) |
14 |
| APS Energy Services |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||
15 |
| SunCor |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||
16 |
| El Dorado |
| — |
| — |
| — |
| — |
| 0.01 |
| (0.01 | ) | ||||||
17 |
| Parent Company |
| (0.02 | ) | (0.02 | ) | — |
| (0.07 | ) | (0.11 | ) | 0.04 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
18 |
| Income From Continuing Operations |
| 0.18 |
| 0.10 |
| 0.08 |
| 3.24 |
| 3.22 |
| 0.02 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| Income (Loss) From Discontinued Operations - Net of Tax |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
19 |
| SunCor |
| — |
| — |
| — |
| (0.02 | ) | (0.08 | ) | 0.06 |
| ||||||
20 |
| Other |
| — |
| 0.02 |
| (0.02 | ) | 0.12 |
| 0.32 |
| (0.20 | ) | ||||||
21 |
| Total |
| — |
| 0.02 |
| (0.02 | ) | 0.10 |
| 0.24 |
| (0.14 | ) | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
22 |
| Net Income |
| 0.18 |
| 0.12 |
| 0.06 |
| 3.34 |
| 3.46 |
| (0.12 | ) | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
23 |
| Less: Net Income (Loss) Attributable to Noncontrolling Interests |
| 0.07 |
| 0.05 |
| 0.02 |
| 0.25 |
| 0.19 |
| 0.06 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
24 |
| Net Income Attributable to Common Shareholders |
| $ | 0.11 |
| $ | 0.07 |
| $ | 0.04 |
| $ | 3.09 |
| $ | 3.27 |
| $ | (0.18 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
25 |
| BOOK VALUE PER SHARE |
| $ | 34.98 |
| $ | 33.86 |
| $ | 1.12 |
| $ | 34.98 |
| $ | 33.86 |
| $ | 1.12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| COMMON SHARES OUTSTANDING (Thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
26 |
| Average - Diluted |
| 110,077 |
| 109,224 |
| 853 |
| 109,864 |
| 107,138 |
| 2,726 |
| ||||||
27 |
| End of Period |
| 109,246 |
| 108,770 |
| 476 |
| 109,246 |
| 108,770 |
| 476 |
|
See Glossary of Terms.
Last Updated 2/24/2012
Pinnacle West Capital Corporation
Quarterly Consolidated Statistical Summary
Periods Ended December 31, 2011 and 2010
|
|
|
| 3 Months Ended December |
| 12 Months Ended December |
| ||||||||||||||
Line |
|
|
| 2011 |
| 2010 |
| Incr (Decr) |
| 2011 |
| 2010 |
| Incr (Decr) |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| ELECTRIC OPERATING REVENUES (Dollars in Millions) |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| REGULATED ELECTRICITY SEGMENT |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| Retail |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
28 |
| Residential |
| $ | 285 |
| $ | 281 |
| $ | 4 |
| $ | 1,539 |
| $ | 1,504 |
| $ | 35 |
|
29 |
| Business |
| 335 |
| 325 |
| 10 |
| 1,454 |
| 1,441 |
| 13 |
| ||||||
30 |
| Total retail |
| 619 |
| 606 |
| 13 |
| 2,993 |
| 2,945 |
| 48 |
| ||||||
|
| Wholesale revenue on delivered electricity |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
31 |
| Traditional contracts |
| 13 |
| 11 |
| 2 |
| 68 |
| 65 |
| 3 |
| ||||||
32 |
| Off-system sales |
| 11 |
| 20 |
| (9 | ) | 59 |
| 86 |
| (27 | ) | ||||||
33 |
| Transmission for others |
| 6 |
| 8 |
| (2 | ) | 30 |
| 34 |
| (4 | ) | ||||||
34 |
| Other miscellaneous services |
| 16 |
| 10 |
| 6 |
| 87 |
| 50 |
| 37 |
| ||||||
35 |
| Total regulated operating electricity revenues |
| 667 |
| 655 |
| 12 |
| 3,237 |
| 3,180 |
| 57 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| MARKETING AND TRADING |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
36 |
| Electricity and other commodity sales |
| — |
| — |
| — |
| — |
| 1 |
| (1 | ) | ||||||
37 |
| Total operating electric revenues |
| $ | 667 |
| $ | 655 |
| $ | 12 |
| $ | 3,237 |
| $ | 3,181 |
| $ | 56 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| ELECTRIC SALES (GWH) |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| REGULATED ELECTRICITY SEGMENT |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| Retail sales |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
38 |
| Residential |
| 2,598 |
| 2,613 |
| (15 | ) | 13,290 |
| 13,035 |
| 255 |
| ||||||
39 |
| Business |
| 3,540 |
| 3,463 |
| 77 |
| 14,920 |
| 14,674 |
| 246 |
| ||||||
40 |
| Total retail |
| 6,139 |
| 6,076 |
| 63 |
| 28,210 |
| 27,709 |
| 501 |
| ||||||
|
| Wholesale electricity delivered |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
41 |
| Traditional contracts |
| 185 |
| 127 |
| 58 |
| 959 |
| 750 |
| 209 |
| ||||||
42 |
| Off-system sales |
| 447 |
| 674 |
| (227 | ) | 2,333 |
| 2,742 |
| (409 | ) | ||||||
43 |
| Retail load hedge management |
| 31 |
| 96 |
| (65 | ) | 153 |
| 659 |
| (507 | ) | ||||||
44 |
| Total regulated electricity |
| 6,802 |
| 6,973 |
| (172 | ) | 31,655 |
| 31,860 |
| (205 | ) | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| MARKETING AND TRADING |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
45 |
| Wholesale sales of electricity |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||
46 |
| Total electric sales |
| 6,802 |
| 6,973 |
| (172 | ) | 31,655 |
| 31,860 |
| (205 | ) | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| POWER SUPPLY ADJUSTOR (“PSA”) - REGULATED ELECTRICITY SEGMENT (Dollars in Millions) |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
47 |
| Deferred fuel and purchased power regulatory asset - beginning balance |
| $ | 32 |
| $ | (41 | ) | $ | 73 |
| $ | (58 | ) | $ | (87 | ) | $ | 29 |
|
48 |
| Deferred fuel and purchased power costs - current period |
| (38 | ) | (44 | ) | 6 |
| (69 | ) | (93 | ) | 24 |
| ||||||
49 |
| Interest on deferred fuel |
|
|
| — |
| — |
|
|
| — |
| — |
| ||||||
50 |
| Amounts recovered through revenues |
| 34 |
| 27 |
| 7 |
| 155 |
| 122 |
| 33 |
| ||||||
51 |
| Deferred fuel and purchased power regulatory asset - ending balance |
| $ | 28 |
| $ | (58 | ) | $ | 86 |
| $ | 28 |
| $ | (58 | ) | $ | 86 |
|
See Glossary of Terms.
Last Updated 2/24/2012
Pinnacle West Capital Corporation
Quarterly Consolidated Statistical Summary
Periods Ended December 31, 2011 and 2010
|
|
|
| 3 Months Ended December |
| 12 Months Ended December |
| ||||||||
Line |
|
|
| 2011 |
| 2010 |
| Incr (Decr) |
| 2011 |
| 2010 |
| Incr (Decr) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| AVERAGE ELECTRIC CUSTOMERS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail customers |
|
|
|
|
|
|
|
|
|
|
|
|
|
52 |
| Residential |
| 995,645 |
| 990,319 |
| 5,326 |
| 994,244 |
| 989,989 |
| 4,255 |
|
53 |
| Business |
| 126,497 |
| 125,232 |
| 1,265 |
| 125,992 |
| 125,320 |
| 672 |
|
54 |
| Total |
| 1,122,142 |
| 1,115,551 |
| 6,591 |
| 1,120,236 |
| 1,115,309 |
| 4,927 |
|
55 |
| Wholesale customers |
| 46 |
| 51 |
| (5 | ) | 46 |
| 51 |
| (5 | ) |
56 |
| Total customers |
| 1,122,188 |
| 1,115,602 |
| 6,586 |
| 1,120,282 |
| 1,115,360 |
| 4,922 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
57 |
| Customer growth (% over prior year) |
| 0.6 | % | 0.5 | % | 0.1 | % | 0.4 | % | 0.6 | % | (0.2 | )% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| RETAIL SALES (GWH) - WEATHER NORMALIZED |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
58 |
| Residential |
| 2,540 |
| 2,579 |
| (39 | ) | 13,252 |
| 13,215 |
| 36 |
|
59 |
| Business |
| 3,531 |
| 3,437 |
| 94 |
| 14,931 |
| 14,809 |
| 122 |
|
60 |
| Total |
| 6,071 |
| 6,016 |
| 55 |
| 28,183 |
| 28,025 |
| 158 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| RETAIL USAGE (KWh/Average Customer) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
61 |
| Residential |
| 2,610 |
| 2,639 |
| (29 | ) | 13,367 |
| 13,167 |
| 200 |
|
62 |
| Business |
| 27,988 |
| 27,654 |
| 334 |
| 118,421 |
| 117,092 |
| 1,329 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| RETAIL USAGE - WEATHER NORMALIZED (KWh/Average Customer) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
63 |
| Residential |
| 2,552 |
| 2,604 |
| (53 | ) | 13,328 |
| 13,349 |
| (21 | ) |
64 |
| Business |
| 27,911 |
| 27,443 |
| 468 |
| 118,509 |
| 118,171 |
| 338 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ELECTRICITY DEMAND (MW) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
65 |
| Native load peak demand |
| 5,221 |
| 5,761 |
| (541 | ) | 7,087 |
| 6,936 |
| 151 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| WEATHER INDICATORS - RESIDENTIAL |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Actual |
|
|
|
|
|
|
|
|
|
|
|
|
|
66 |
| Cooling degree-days |
| 62 |
| 60 |
| 2 |
| 1,820 |
| 1,740 |
| 80 |
|
67 |
| Heating degree-days |
| 442 |
| 309 |
| 133 |
| 1,056 |
| 829 |
| 227 |
|
68 |
| Average humidity |
| 25 | % | 38 | % | (13 | )% | 22 | % | 26 | % | (4 | )% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 10-Year Averages |
|
|
|
|
|
|
|
|
|
|
|
|
|
69 |
| Cooling degree-days |
| 46 |
| 46 |
| 0 | % | 1,783 |
| 1,783 |
| 0 | % |
70 |
| Heating degree-days |
| 382 |
| 382 |
| 0 | % | 895 |
| 895 |
| 0 | % |
71 |
| Average humidity |
| 36 | % | 36 | % | 0 | % | 26 | % | 26 | % | 0 | % |
See Glossary of Terms.
Last Updated 2/24/2012
Pinnacle West Capital Corporation
Quarterly Consolidated Statistical Summary
Periods Ended December 31, 2011 and 2010
|
|
|
| 3 Months Ended December |
| 12 Months Ended December |
| ||||||||
Line |
|
|
| 2011 |
| 2010 |
| Incr (Decr) |
| 2011 |
| 2010 |
| Incr (Decr) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ENERGY SOURCES (GWH) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Generation production |
|
|
|
|
|
|
|
|
|
|
|
|
|
72 |
| Nuclear |
| 2,041 |
| 2,169 |
| (128 | ) | 9,102 |
| 9,079 |
| 23 |
|
73 |
| Coal |
| 2,929 |
| 3,160 |
| (231 | ) | 12,248 |
| 12,383 |
| (135 | ) |
74 |
| Gas, oil and other |
| 1,675 |
| 1,314 |
| 361 |
| 5,705 |
| 5,366 |
| 339 |
|
75 |
| Total generation production |
| 6,644 |
| 6,643 |
| 1 |
| 27,055 |
| 26,828 |
| 227 |
|
|
| Purchased power |
|
|
|
|
|
|
|
|
|
|
|
|
|
76 |
| Firm load |
| 576 |
| 611 |
| (35 | ) | 5,419 |
| 5,429 |
| (10 | ) |
77 |
| Marketing and trading |
| 79 |
| 206 |
| (127 | ) | 933 |
| 1,531 |
| (598 | ) |
78 |
| Total purchased power |
| 655 |
| 817 |
| (162 | ) | 6,352 |
| 6,960 |
| (608 | ) |
79 |
| Total energy sources |
| 7,299 |
| 7,460 |
| (161 | ) | 33,407 |
| 33,788 |
| (381 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| POWER PLANT PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Capacity Factors |
|
|
|
|
|
|
|
|
|
|
|
|
|
80 |
| Nuclear |
| 81 | % | 86 | % | (5 | )% | 91 | % | 91 | % | (0 | )% |
81 |
| Coal |
| 76 | % | 82 | % | (6 | )% | 80 | % | 81 | % | (1 | )% |
82 |
| Gas, oil and other |
| 22 | % | 18 | % | 4 | % | 19 | % | 18 | % | 1 | % |
83 |
| System average |
| 48 | % | 48 | % | (0 | )% | 49 | % | 49 | % | 0 | % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ECONOMIC INDICATORS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Building Permits - Metro Phoenix (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
84 |
| Single-family |
| 1,348 |
| 904 |
| 444 |
| 6,273 |
| 5,613 |
| 660 |
|
85 |
| Multi-family |
| 818 |
| 164 |
| 654 |
| 2,462 |
| 755 |
| 1,707 |
|
86 |
| Total |
| 2,166 |
| 1,068 |
| 1,098 |
| 8,735 |
| 6,368 |
| 2,367 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Arizona Job Growth (b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
87 |
| Payroll job growth (% over prior year) |
| 1.9 | % | (0.4 | )% | 2.2 | % | 0.9 | % | (2.1 | )% | 3.0 | % |
88 |
| Unemployment rate (%, seasonally adjusted) |
| 8.8 | % | 9.7 | % | (0.9 | )% | 9.2 | % | 9.9 | % | (0.7 | )% |
Sources:
(a) Arizona Real Estate Center, Arizona State University W.P. Carey College of Business
(b) Arizona Department of Economic Security
See Glossary of Terms.