v3.25.1
ARIZONA PUBLIC SERVICE COMPANY - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (338) $ 21,168
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization including nuclear fuel 250,651 226,413
Deferred fuel and purchased power (25,228) (33,094)
Deferred fuel and purchased power amortization 84,789 108,552
Allowance for equity funds used during construction (13,249) (10,292)
Deferred income taxes 795 (23,297)
Deferred investment tax credit 36 (294)
Changes in current assets and liabilities:    
Customer and other receivables 93,800 84,888
Accrued unbilled revenues 134 1,074
Materials, supplies and fossil fuel (2,770) 4,374
Income tax receivable 0 332
Other current assets (15,008) (32,306)
Accounts payable 56,010 23,799
Accrued taxes 56,520 58,018
Other current liabilities (41,391) (55,343)
Change in long-term regulatory assets 17,614 9,850
Change in long-term regulatory liabilities 12,033 16,493
Change in other long-term assets (45,413) (19,571)
Change in operating lease assets 3,889 (8,416)
Change in other long-term liabilities (40,427) (17,489)
Change in operating lease liabilities 2,288 9,547
Net cash provided by operating activities 401,895 347,353
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (622,552) (517,756)
Contributions in aid of construction 51,244 69,047
Allowance for borrowed funds used during construction (10,102) (13,141)
Proceeds from nuclear decommissioning trusts sales and other special use funds 485,814 443,870
Investment in nuclear decommissioning trusts and other special use funds (486,385) (443,854)
Other (4,134) (939)
Net cash used for investing activities (586,115) (424,092)
CASH FLOWS FROM FINANCING ACTIVITIES    
Short-term borrowing and (repayments) - net 301,747 184,000
Dividends paid on common stock (104,934) (98,082)
Net cash provided by financing activities 190,429 81,418
NET INCREASE IN CASH AND CASH EQUIVALENTS 6,209 4,679
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,838 4,955
CASH AND CASH EQUIVALENTS AT END OF PERIOD 10,047 9,634
APS    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) 4,585 19,423
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization including nuclear fuel 250,634 226,392
Deferred fuel and purchased power (25,228) (33,094)
Deferred fuel and purchased power amortization 84,789 108,552
Allowance for equity funds used during construction (13,249) (10,292)
Deferred income taxes (123) 2,071
Deferred investment tax credit 36 (294)
Changes in current assets and liabilities:    
Customer and other receivables 94,051 84,357
Accrued unbilled revenues 134 1,074
Materials, supplies and fossil fuel (2,770) 4,374
Income tax receivable 5,421 0
Other current assets (15,028) 3,516
Accounts payable 52,351 26,328
Accrued taxes 56,040 59,745
Other current liabilities (61,892) (82,478)
Change in long-term regulatory assets 17,614 9,850
Change in long-term regulatory liabilities 12,033 16,493
Change in other long-term assets (30,585) (51,555)
Change in operating lease assets 3,858 (8,479)
Change in other long-term liabilities (26,322) (19,584)
Change in operating lease liabilities 2,325 9,581
Net cash provided by operating activities 408,674 365,980
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (622,552) (517,756)
Contributions in aid of construction 51,244 69,047
Allowance for borrowed funds used during construction (10,102) (13,141)
Proceeds from nuclear decommissioning trusts sales and other special use funds 460,538 443,870
Investment in nuclear decommissioning trusts and other special use funds (461,109) (443,854)
Other (1,467) (51)
Net cash used for investing activities (583,448) (461,885)
CASH FLOWS FROM FINANCING ACTIVITIES    
Short-term borrowing and (repayments) - net 286,700 200,650
Dividends paid on common stock (107,200) (99,800)
Net cash provided by financing activities 179,500 100,850
NET INCREASE IN CASH AND CASH EQUIVALENTS 4,726 4,945
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,815 4,549
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 8,541 $ 9,494