Debt and Liquidity Matters (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Estimated Fair Value of Long-Term Debt, Including Current Maturities

The following table presents the estimated fair value of our long-term debt, including current maturities (dollars in thousands):

	As of March 31, 2026				As of December 31, 2025
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Pinnacle West	$	1,666,919	$	1,756,235	$	1,665,736	$	1,731,388
APS	8,734,756		7,874,786		8,139,940		7,433,142
Total	$	10,401,675	$	9,631,021	$	9,805,676	$	9,164,530