EX-99.2 3 a13-5523_1ex99d2.htm EX-99.2

Exhibit 99.2

 

Last Updated      2/22/2013

Pinnacle West Capital Corporation

 

 

Quarterly Consolidated Statistical Summary

Periods Ended December 31, 2012 and 2011

 

 

 

 

 

 

3 Months Ended December 31,

 

12 Months Ended December 31,

Line

 

 

 

2012

 

2011

 

Incr (Decr)

 

2012

 

2011

 

Incr (Decr)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS CONTRIBUTION
BY SUBSIDIARY (Dollars in Millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1

 

Arizona Public Service

 

$

35

 

$

22

 

$

13

 

$

427

 

$

364

 

$

63

2

 

El Dorado

 

-

 

-

 

-

 

(2)

 

-

 

(2)

3

 

Parent Company

 

-

 

(2)

 

2

 

(6)

 

(8)

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4

 

Income From Continuing Operations

 

35

 

20

 

15

 

419

 

356

 

63

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) From Discontinued Operations - Net of Tax

 

 

 

 

 

 

 

 

 

 

 

 

5

 

SunCor

 

-

 

-

 

-

 

(2)

 

(2)

 

-

6

 

Other

 

(4)

 

-

 

(4)

 

(4)

 

13

 

(17)

7

 

Total

 

(4)

 

-

 

(4)

 

(6)

 

11

 

(17)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8

 

Net Income

 

31

 

20

 

11

 

413

 

367

 

46

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9

 

Less: Net Income (Loss) Attributable to Noncontrolling Interests

 

8

 

7

 

1

 

31

 

28

 

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10

 

Net Income Attributable to Common Shareholders

 

$

23

 

$

13

 

$

10

 

$

382

 

$

339

 

$

43

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS PER SHARE
BY SUBSIDIARY - DILUTED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11

 

Arizona Public Service

 

$

0.31

 

$

0.20

 

$

0.11

 

$

3.86

 

$

3.31

 

$

0.55

12

 

El Dorado

 

-

 

-

 

-

 

(0.02)

 

-

 

(0.02)

13

 

Parent Company

 

-

 

(0.02)

 

0.02

 

(0.05)

 

(0.07)

 

0.02

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

14

 

Income From Continuing Operations

 

0.31

 

0.18

 

0.13

 

3.79

 

3.24

 

0.55

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) From Discontinued Operations - Net of Tax

 

 

 

 

 

 

 

 

 

 

 

 

15

 

SunCor

 

-

 

-

 

-

 

(0.01)

 

(0.02)

 

0.01

16

 

Other

 

(0.04)

 

-

 

(0.04)

 

(0.04)

 

0.12

 

(0.16)

17

 

Total

 

(0.04)

 

-

 

(0.04)

 

(0.05)

 

0.10

 

(0.15)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18

 

Net Income

 

0.27

 

0.18

 

0.09

 

3.74

 

3.34

 

0.40

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19

 

Less: Net Income (Loss) Attributable to Noncontrolling Interests

 

0.07

 

0.07

 

-

 

0.29

 

0.25

 

0.04

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

20

 

Net Income Attributable to Common Shareholders

 

$

0.20

 

$

0.11

 

$

0.09

 

$

3.45

 

$

3.09

 

$

0.36

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

21

 

BOOK VALUE PER SHARE

 

$

36.20

 

$

34.98

 

$

1.22

 

$

36.20

 

$

34.98

 

$

1.22

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

COMMON SHARES OUTSTANDING
(Thousands)

 

 

 

 

 

 

 

 

 

 

 

 

22

 

Average - Diluted

 

110,776

 

110,077

 

699

 

110,527

 

109,864

 

663

23

 

End of Period

 

109,743

 

109,246

 

497

 

109,743

 

109,246

 

497

 

 

See Glossary of Terms.

Page 1 of 4

 

 


 

Last Updated      2/22/2013

Pinnacle West Capital Corporation

 

 

Quarterly Consolidated Statistical Summary

Periods Ended December 31, 2012 and 2011

 

 

 

 

 

 

3 Months Ended December 31,

 

12 Months Ended December 31,

Line

 

 

 

2012

 

2011

 

Incr (Decr)

 

2012

 

2011

 

Incr (Decr)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ELECTRIC OPERATING REVENUES (Dollars in Millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail

 

 

 

 

 

 

 

 

 

 

 

 

24

 

Residential

 

$

291

 

$

285

 

$

6

 

$

1,587

 

$

1,539

 

$

48

25

 

Business

 

344

 

335

 

9

 

1,472

 

1,454

 

18

26

 

Total retail

 

635

 

620

 

15

 

3,059

 

2,993

 

66

 

 

Wholesale revenue on delivered electricity

 

 

 

 

 

 

 

 

 

 

 

 

27

 

Traditional contracts

 

11

 

13

 

(2)

 

62

 

68

 

(6)

28

 

Off-system sales

 

25

 

11

 

14

 

89

 

59

 

30

29

 

Native load hedge liquidation

 

-

 

-

 

-

 

4

 

-

 

4

30

 

Transmission for others

 

6

 

6

 

-

 

29

 

30

 

(1)

31

 

Other miscellaneous services

 

10

 

17

 

(7)

 

50

 

87

 

(37)

32

 

Total electric operating revenues

 

$

687

 

$

667

 

$

20

 

$

3,293

 

$

3,237

 

$

56

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ELECTRIC SALES (GWH)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail sales

 

 

 

 

 

 

 

 

 

 

 

 

33

 

Residential

 

2,552

 

2,599

 

(47)

 

13,256

 

13,290

 

(34)

34

 

Business

 

3,541

 

3,540

 

1

 

14,898

 

14,920

 

(22)

35

 

Total retail

 

6,093

 

6,139

 

(46)

 

28,154

 

28,210

 

(56)

 

 

Wholesale electricity delivered

 

 

 

 

 

 

 

 

 

 

 

 

36

 

Traditional contracts

 

103

 

185

 

(82)

 

761

 

959

 

(198)

37

 

Off-system sales

 

835

 

447

 

388

 

3,264

 

2,333

 

931

38

 

Retail load hedge management

 

48

 

31

 

17

 

269

 

153

 

116

39

 

Total electric sales

 

7,079

 

6,802

 

277

 

32,448

 

31,655

 

793

 

 

See Glossary of Terms.

Page 2 of 4

 

 


 

Last Updated      2/22/2013

Pinnacle West Capital Corporation

 

 

Quarterly Consolidated Statistical Summary

Periods Ended December 31, 2012 and 2011

 

 

 

 

 

 

3 Months Ended December 31,

 

12 Months Ended December 31,

Line

 

 

 

2012

 

2011

 

Incr (Decr)

 

2012

 

2011

 

Incr (Decr)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AVERAGE ELECTRIC CUSTOMERS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail customers

 

 

 

 

 

 

 

 

 

 

 

 

40

 

Residential

 

1,010,532

 

995,645

 

14,887

 

1,005,074

 

994,244

 

10,830

41

 

Business

 

127,687

 

126,497

 

1,190

 

127,222

 

125,992

 

1,230

42

 

Total retail customers

 

1,138,219

 

1,122,142

 

16,077

 

1,132,296

 

1,120,236

 

12,060

43

 

Wholesale customers

 

50

 

46

 

4

 

49

 

46

 

3

44

 

Total customers

 

1,138,269

 

1,122,188

 

16,081

 

1,132,345

 

1,120,282

 

12,063

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

45

 

Customer growth (% over prior year)

 

1.4%

 

0.6%

 

0.8%

 

1.1%

 

0.4%

 

0.7%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RETAIL SALES (GWH) - WEATHER NORMALIZED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

46

 

Residential

 

2,554

 

2,519

 

35

 

13,255

 

13,226

 

29

47

 

Business

 

3,532

 

3,508

 

24

 

14,919

 

14,934

 

(15)

48

 

Total

 

6,086

 

6,027

 

59

 

28,174

 

28,160

 

14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RETAIL USAGE
(KWh/Average Customer)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

49

 

Residential

 

2,525

 

2,610

 

(85)

 

13,190

 

13,367

 

(177)

50

 

Business

 

27,733

 

27,988

 

(255)

 

117,100

 

118,421

 

(1,321)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RETAIL USAGE - WEATHER NORMALIZED (KWh/Average Customer)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

51

 

Residential

 

2,527

 

2,530

 

(3)

 

13,188

 

13,303

 

(115)

52

 

Business

 

27,661

 

27,736

 

(75)

 

117,263

 

118,526

 

(1,263)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ELECTRICITY DEMAND (MW)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

53

 

Native load peak demand

 

5,339

 

5,221

 

118

 

7,207

 

7,087

 

120

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WEATHER INDICATORS - RESIDENTIAL

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual

 

 

 

 

 

 

 

 

 

 

 

 

54

 

Cooling degree-days

 

53

 

62

 

(9)

 

1,791

 

1,820

 

(29)

55

 

Heating degree-days

 

279

 

442

 

(163)

 

705

 

1,056

 

(351)

56

 

Average humidity

 

26%

 

25%

 

1%

 

26%

 

22%

 

4%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10-Year Averages

 

 

 

 

 

 

 

 

 

 

 

 

57

 

Cooling degree-days

 

48

 

48

 

-

 

1,781

 

1,781

 

-

58

 

Heating degree-days

 

364

 

364

 

-

 

877

 

877

 

-

59

 

Average humidity

 

28%

 

28%

 

-

 

25%

 

25%

 

-

 

 

See Glossary of Terms.

Page 3 of 4

 

 


 

Last Updated      2/22/2013

Pinnacle West Capital Corporation

 

 

Quarterly Consolidated Statistical Summary

Periods Ended December 31, 2012 and 2011

 

 

 

 

 

 

3 Months Ended December 31,

 

12 Months Ended December 31,

Line

 

 

 

2012

 

2011

 

Incr (Decr)

 

2012

 

2011

 

Incr (Decr)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ENERGY SOURCES (GWH)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Generation production

 

 

 

 

 

 

 

 

 

 

 

 

60

 

Nuclear

 

2,115

 

2,041

 

74

 

9,293

 

9,102

 

191

61

 

Coal

 

2,939

 

2,929

 

11

 

10,877

 

12,248

 

(1,371)

62

 

Gas, oil and other

 

1,551

 

1,675

 

(124)

 

7,465

 

5,705

 

1,760

63

 

Total generation production

 

6,606

 

6,644

 

(39)

 

27,635

 

27,055

 

581

 

 

Purchased power

 

 

 

 

 

 

 

 

 

 

 

 

64

 

Firm load

 

769

 

576

 

193

 

6,288

 

5,419

 

869

65

 

Marketing and trading

 

62

 

79

 

(17)

 

306

 

933

 

(627)

66

 

Total purchased power

 

831

 

655

 

176

 

6,594

 

6,352

 

242

67

 

Total energy sources

 

7,436

 

7,299

 

137

 

34,229

 

33,407

 

823

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

POWER PLANT PERFORMANCE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capacity Factors

 

 

 

 

 

 

 

 

 

 

 

 

68

 

Nuclear

 

84%

 

81%

 

3%

 

92%

 

91%

 

2%

69

 

Coal

 

76%

 

76%

 

-

 

71%

 

80%

 

(9)%

70

 

Gas, oil and other

 

20%

 

22%

 

(2)%

 

25%

 

19%

 

6%

71

 

System average

 

47%

 

48%

 

(1)%

 

49%

 

49%

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ECONOMIC INDICATORS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

72

 

Housing Permits - Metro Phoenix (a)

 

3,736

 

2,166

 

1,570

 

13,584

 

8,735

 

4,849

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Arizona Job Growth (b)

 

 

 

 

 

 

 

 

 

 

 

 

73

 

Payroll job growth (% over prior year)

 

2.4%

 

1.3%

 

1.1%

 

2.1%

 

1.0%

 

1.1%

74

 

Unemployment rate
(%, seasonally adjusted)

 

7.9%

 

9.1%

 

(1.2)%

 

8.3%

 

9.5%

 

(1.2)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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.

Page 4 of 4