Business Segments

9 Months Ended

Sep. 30, 2011

Business Segments

Business Segments

5. Business Segments

Pinnacle West’s reportable business segment is our regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily retail and wholesale sales supplied to traditional cost-based rate regulation (“Native Load”) customers) and related activities and includes electricity generation, transmission and distribution.

Financial data for the three and nine months ended September 30, 2011 and 2010 and at September 30, 2011 and December 31, 2010 is provided as follows (dollars in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2011		2010		2011		2010
Operating revenues:
Regulated electricity segment	$	1,124	$	1,116	$	2,571	$	2,527
All other	1		1		2		5
Total	$	1,125	$	1,117	$	2,573	$	2,532
Net income attributable to common shareholders:
Regulated electricity segment	$	246	$	225	$	318	$	320
All other (a)	9		9		9		23
Total	$	255	$	234	$	327	$	343

	As of September 30, 2011		As of December 31, 2010
Assets:
Regulated electricity segment	$	13,112	$	12,285
All other (a)	38		108
Total	$	13,150	$	12,393

(a) All other activities relate to APSES, SunCor, Pinnacle West and El Dorado.