 |
A $100 investment in Pinnacle West in December 1999 (with dividends reinvested) would have been worth $125 at the end of 2002. By comparison, the same $100 would have been worth $115 if invested in the EEI Electric Index, and $62 if invested in the S&P 500 Index.
(dollars in thousands, except per share amounts) |
| year ended December 31, |
2002 |
2001 |
2000 |
Growth Rate
2002 VS. 2001 |
Growth Rate
2001 VS. 2000 |
| INCOME HIGHLIGHTS |
|
|
|
|
|
| Operating revenues |
$ 2,637,279 |
$ 3,393,998 |
$ 3,119,522 |
(22.3%) |
8.8% |
| Income before accounting change |
$ 215,153 |
$ 327,367 |
$ 302,332 |
(34.3%) |
8.3% |
| |
|
|
|
|
|
| BALANCE SHEET HIGHLIGHTS |
|
|
|
|
|
| Total assets -- year-end |
$ 8,425,806 |
$ 7,939,399 |
$ 7,122,667 |
6.1% |
11.5% |
| Common stock equity -- year-end |
$ 2,686,153 |
$ 2,499,323 |
$ 2,382,714 |
7.5% |
4.9% |
| |
|
|
|
|
|
| PER SHARE HIGHLIGHTS |
|
|
|
|
|
| Earnings per share before accounting change -- diluted |
$ 2.53 |
$ 3.85 |
$ 3.56 |
(34.3%) |
8.1% |
| Indicated annual dividend -- year-end |
$ 1.70 |
$ 1.60 |
$ 1.50 |
6.3% |
6.7% |
| Book value per share -- year-end |
$ 29.40 |
$ 29.46 |
$ 28.09 |
(0.2%) |
4.9% |
| |
|
|
|
|
|
| STOCK PERFORMANCE |
|
|
|
|
|
| Stock price per share -- year-end |
$ 34.09 |
$ 41.85 |
$ 47.63 |
|
|
| Stock price appreciation |
(18.5%) |
(12.1%) |
55.8% |
|
|
| Total return |
(14.8%) |
(9.0%) |
61.8% |
|
|
| Market capitalization -- year-end |
$ 3,115,142 |
$ 3,549,924 |
$ 4,039,788 |
(12.2%) |
(12.1%) |
|
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