Other Income and Other Expense

12 Months Ended

Dec. 31, 2022

Other Income and Expenses [Abstract]

The following table provides detail of Pinnacle West’s Consolidated other income and other expense for 2022, 2021 and 2020 (dollars in thousands):


	2022			2021		2020
Other income:
Interest income	$	7,326		$	6,726	$	12,210
Investment gains (losses) — net	—			—		2,358
Debt return on Four Corners SCR deferral (Note 3)	—			14,955		15,865
Debt return on Ocotillo modernization project (Note 3)	—			23,366		26,121
Miscellaneous	590			53		149
Total other income	$	7,916		$	45,100	$	56,703
Other expense:
Non-operating costs	$	(18,619)		$	(13,008)	$	(12,400)
Investment gains (losses) — net	(20,537)		(b)	(1,367)		—
Miscellaneous	(13,229)		(a)	(11,021)		(45,376)		(a)
Total other expense	$	(52,385)		$	(25,396)	$	(57,776)

(a)The 2022 miscellaneous amount includes donations of $7 million to the APS Foundation. The 2020 miscellaneous amount includes donations of approximately $10 million to the APS Foundation and approximately $25.2 million related to the CCT plan. See Note 3.

(b)The 2022 investment loss is primarily related to an impairment write-off of BCE’s Clear Creek wind farm investment. See Note 10.

Other Income and Other Expense - APS

The following table provides detail of APS’s other income and other expense for 2022, 2021 and 2020 (dollars in thousands):


	2022			2021		2020
Other income:
Interest income	$	5,332		$	4,692	$	9,621
Debt return on Four Corners SCR deferral (Note 3)	—			14,955		15,865
Debt return on Ocotillo modernization project (Note 3)	—			23,366		26,121
Miscellaneous	556			40		148
Total other income	$	5,888		$	43,053	$	51,755
Other expense:
Non-operating costs	$	(15,579)		$	(10,080)	$	(10,659)

Miscellaneous	(10,529)		(a)	(8,817)		(43,035)		(a)
Total other expense	$	(26,108)		$	(18,897)	$	(53,694)