CONDENSED CONSOLIDATED STATEMENTS OF INCOME (APSC) (USD $) In Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
ELECTRIC OPERATING REVENUES	$ 1,124,049	$ 1,116,211	$ 2,570,692	$ 2,527,052
OPERATING EXPENSES
Fuel and purchased power	337,896	353,904	793,952	821,244
Operations and maintenance	210,035	219,658	675,654	639,580
Depreciation and amortization	106,350	104,177	319,550	307,806
Taxes other than income taxes	34,223	37,528	112,002	100,933
Total	689,824	716,436	1,905,694	1,873,135
OPERATING INCOME	435,017	400,274	667,793	658,632
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction	7,378	5,524	18,697	16,417
Other income (Note S-2)	441	4,261	2,630	3,851
Other expense (Note S-2)	(3,052)	(3,894)	(7,921)	(8,768)
Total	4,767	5,891	13,406	11,500
INTEREST EXPENSE
Allowance for borrowed funds used during construction	(6,939)	(6,163)	(14,371)	(12,254)
Total	55,095	54,256	168,880	169,683
NET INCOME	262,785	239,039	346,950	357,708
Less: Net income attributable to noncontrolling interests (Note 7)	7,426	5,119	20,041	15,005
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	255,359	233,920	326,909	342,703
ARIZONA PUBLIC SERVICE COMPANY
ELECTRIC OPERATING REVENUES	1,124,057	1,116,220	2,570,737	2,527,163
OPERATING EXPENSES
Fuel and purchased power	337,897	353,904	793,952	821,244
Operations and maintenance	207,967	217,044	669,170	632,235
Depreciation and amortization	106,326	104,152	319,477	307,731
Income taxes	145,230	126,841	193,485	177,089
Taxes other than income taxes	33,854	37,270	110,892	100,171
Total	831,274	839,211	2,086,976	2,038,470
OPERATING INCOME	292,783	277,009	483,761	488,693
OTHER INCOME (DEDUCTIONS)
Income taxes	9,422	1,272	9,647	3,769
Allowance for equity funds used during construction	7,377	5,524	18,697	16,417
Other income (Note S-2)	617	2,962	3,828	3,872
Other expense (Note S-2)	(3,045)	(4,074)	(11,288)	(11,091)
Total	14,371	5,684	20,884	12,967
INTEREST EXPENSE
Interest on long-term debt	56,314	53,946	165,805	161,918
Interest on short-term borrowings	2,846	2,013	7,675	5,734
Debt discount, premium and expense	1,164	1,121	3,485	3,376
Allowance for borrowed funds used during construction	(6,938)	(6,163)	(14,371)	(12,254)
Total	53,386	50,917	162,594	158,774
NET INCOME	253,768	231,776	342,051	342,886
Less: Net income attributable to noncontrolling interests (Note 7)	7,435	5,128	20,089	15,034
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 246,333	$ 226,648	$ 321,962	$ 327,852