Common Stock and Treasury Stock

12 Months Ended

Dec. 31, 2012

Common Stock and Treasury Stock

Common Stock and Treasury Stock

7. Common Stock and Treasury Stock

Our common stock and treasury stock activity during each of the three years 2012, 2011 and 2010 is as follows (dollars in thousands):

	Common Stock			Treasury Stock
	Shares	Amount		Shares		Amount
Balance at December 31, 2009	101,527,937	$	2,153,295	(93,239	)	$	(3,812	)
Common stock issuance (a)	7,292,130	268,077		—		—
Purchase of treasury stock (b)	—	—		(1,994	)	(82		)
Reissuance of treasury stock for stock compensation	—	—		44,823		1,655
Balance at December 31, 2010	108,820,067	2,421,372		(50,410	)	(2,239		)
Common stock issuance	536,907	22,875		—		—
Purchase of treasury stock (b)	—	—		(88,440	)	(3,720		)
Reissuance of treasury stock for stock compensation	—	—		27,689		1,242
Balance at December 31, 2011	109,356,974	2,444,247		(111,161	)	(4,717		)
Common stock issuance	480,983	22,676		—		—
Purchase of treasury stock (b)	—	—		(89,629	)	(4,607		)
Reissuance of treasury stock for stock compensation	—	—		105,598		5,113
Balance at December 31, 2012	109,837,957	$	2,466,923	(95,192	)	$	(4,211	)

(a) In April 2010, Pinnacle West issued 6,900,000 shares of common stock at an offering price of $38.00 per share, resulting in net proceeds of approximately $253 million.  Pinnacle West contributed all of the net proceeds from this offering into APS in the form of equity infusions.  APS has used these contributions to repay short-term indebtedness, to finance capital expenditures and for other general corporate purposes.

(b) Primarily represents shares of common stock withheld from certain stock awards for tax purposes.

At December 31, 2012, Pinnacle West had 10 million shares of serial preferred stock authorized with no par value, none of which was outstanding, and APS had 15,535,000 shares of various types of preferred stock authorized with $25, $50 and $100 par values, none of which was outstanding.