CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 13,557	$ 7,604
Customer and other receivables	289,236	297,740
Accrued unbilled revenues	185,216	100,533
Allowance for doubtful accounts	(2,518)	(3,094)
Materials and supplies (at average cost)	231,101	218,889
Fossil fuel (at average cost)	43,196	37,097
Deferred income taxes	77,841	122,232
Income tax receivable (Note 5)	0	3,098
Assets from risk management activities (Note 7)	14,722	13,785
Deferred fuel and purchased power regulatory asset (Note 3)	0	6,926
Other regulatory assets (Note 3)	134,578	129,808
Other current assets	44,827	38,817
Total current assets	1,031,756	973,435
INVESTMENTS AND OTHER ASSETS
Assets from risk management activities (Note 7)	18,513	17,620
Nuclear decommissioning trust (Note 12)	723,582	713,866
Other assets	51,987	54,047
Total investments and other assets	794,082	785,533
PROPERTY, PLANT AND EQUIPMENT
Plant in service and held for future use	15,926,594	15,543,063
Accumulated depreciation and amortization	(5,497,350)	(5,397,751)
Net	10,429,244	10,145,312
Construction work in progress	638,285	682,807
Palo Verde sale leaseback, net of accumulated depreciation (Note 6)	119,320	121,255
Intangible assets, net of accumulated amortization	127,742	119,755
Nuclear fuel, net of accumulated amortization	156,608	125,201
Total property, plant and equipment	11,471,199	11,194,330
DEFERRED DEBITS
Regulatory assets (Note 3)	1,081,113	1,054,087
Assets for other postretirement benefits (Note 4)	168,755	152,290
Other	154,578	153,857
Total deferred debits	1,404,446	1,360,234
TOTAL ASSETS	14,701,483	14,313,532
CURRENT LIABILITIES
Accounts payable	326,119	295,211
Accrued taxes (Note 5)	155,812	140,613
Accrued interest	54,547	52,603
Common dividends payable	65,933	65,790
Short-term borrowings (Note 2)	157,500	147,400
Current maturities of long-term debt (Note 2)	102,723	383,570
Customer deposits	72,785	72,307
Liabilities from risk management activities (Note 7)	60,673	59,676
Deferred fuel and purchased power regulatory liability (Note 3)	16,209	0
Liabilities for asset retirements (Note 15)	28,543	32,462
Other regulatory liabilities (Note 3)	136,273	130,549
Other current liabilities	162,742	178,962
Total current liabilities	1,339,859	1,559,143
LONG-TERM DEBT LESS CURRENT MATURITIES (Note 2)	3,565,857	3,031,215
DEFERRED CREDITS AND OTHER
Deferred income taxes	2,614,274	2,582,636
Regulatory liabilities (Note 3)	1,016,991	1,051,196
Liabilities for asset retirements (Note 15)	419,072	358,288
Liabilities for pension benefits (Note 4)	425,002	453,736
Liabilities from risk management activities (Note 7)	87,689	50,602
Customer advances	120,063	123,052
Coal mine reclamation	200,155	198,292
Deferred investment tax credit	176,389	178,607
Unrecognized tax benefits (Note 5)	14,311	19,377
Other	196,178	188,286
Total deferred credits and other	$ 5,270,124	$ 5,204,072
COMMITMENTS AND CONTINGENCIES (SEE NOTES)
EQUITY
Common stock, no par value; authorized 150,000,000 shares, 110,865,030 and 110,649,762 issued at respective dates	$ 2,526,945	$ 2,512,970
Treasury stock at cost; 53,559 and 78,400 shares at respective dates	(1,765)	(3,401)
Total common stock	2,525,180	2,509,569
Retained earnings	1,933,256	1,926,065
Accumulated other comprehensive loss:
Pension and other postretirement benefits	(57,290)	(57,756)
Derivative instruments	(8,310)	(10,385)
Total accumulated other comprehensive loss	(65,600)	(68,141)
Total shareholders’ equity	4,392,836	4,367,493
Noncontrolling interests (Note 6)	132,807	151,609
Total equity	4,525,643	4,519,102
TOTAL LIABILITIES AND EQUITY	14,701,483	14,313,532
Arizona Public Service Company
CURRENT ASSETS
Cash and cash equivalents	7,973	4,515
Customer and other receivables	281,609	297,712
Accrued unbilled revenues	185,216	100,533
Allowance for doubtful accounts	(2,518)	(3,094)
Materials and supplies (at average cost)	231,101	218,889
Fossil fuel (at average cost)	43,196	37,097
Deferred income taxes	54,789	55,253
Assets from risk management activities (Note 7)	14,722	13,785
Deferred fuel and purchased power regulatory asset (Note 3)	0	6,926
Other regulatory assets (Note 3)	134,578	129,808
Other current assets	44,168	38,693
Total current assets	994,834	900,117
INVESTMENTS AND OTHER ASSETS
Assets from risk management activities (Note 7)	18,513	17,620
Nuclear decommissioning trust (Note 12)	723,582	713,866
Other assets	33,976	33,362
Total investments and other assets	776,071	764,848
PROPERTY, PLANT AND EQUIPMENT
Plant in service and held for future use	15,923,342	15,539,811
Accumulated depreciation and amortization	(5,494,236)	(5,394,650)
Net	10,429,106	10,145,161
Construction work in progress	636,927	682,807
Palo Verde sale leaseback, net of accumulated depreciation (Note 6)	119,320	121,255
Intangible assets, net of accumulated amortization	127,587	119,600
Nuclear fuel, net of accumulated amortization	156,608	125,201
Total property, plant and equipment	11,469,548	11,194,024
DEFERRED DEBITS
Regulatory assets (Note 3)	1,081,113	1,054,087
Assets for other postretirement benefits (Note 4)	165,682	149,260
Unamortized debt issue costs	27,843	24,642
Other	125,694	128,026
Total deferred debits	1,400,332	1,356,015
TOTAL ASSETS	14,640,785	14,215,004
CURRENT LIABILITIES
Accounts payable	321,860	289,930
Accrued taxes (Note 5)	199,492	131,110
Accrued interest	54,314	52,358
Common dividends payable	65,900	65,800
Short-term borrowings (Note 2)	157,500	147,400
Current maturities of long-term debt (Note 2)	102,723	383,570
Customer deposits	72,785	72,307
Liabilities from risk management activities (Note 7)	60,673	59,676
Deferred fuel and purchased power regulatory liability (Note 3)	16,209	0
Liabilities for asset retirements (Note 15)	28,543	32,462
Other regulatory liabilities (Note 3)	136,273	130,549
Other current liabilities	132,800	167,302
Total current liabilities	1,349,072	1,532,464
DEFERRED CREDITS AND OTHER
Deferred income taxes	2,601,294	2,571,365
Regulatory liabilities (Note 3)	1,016,991	1,051,196
Liabilities for asset retirements (Note 15)	419,072	358,288
Liabilities for pension benefits (Note 4)	397,160	424,508
Liabilities from risk management activities (Note 7)	87,689	50,602
Customer advances	120,063	123,052
Coal mine reclamation	200,155	198,292
Deferred investment tax credit	176,389	178,607
Unrecognized tax benefits (Note 5)	45,305	45,740
Other	159,574	144,823
Total deferred credits and other	$ 5,223,692	$ 5,146,473
COMMITMENTS AND CONTINGENCIES (SEE NOTES)
EQUITY
Total common stock	$ 178,162	$ 178,162
Additional paid-in capital	2,379,696	2,379,696
Retained earnings	1,982,150	1,968,718
Accumulated other comprehensive loss:
Pension and other postretirement benefits	(37,341)	(37,948)
Derivative instruments	(8,310)	(10,385)
Total accumulated other comprehensive loss	(45,651)	(48,333)
Total shareholders’ equity	4,494,357	4,478,243
Noncontrolling interests (Note 6)	132,807	151,609
Total equity	4,627,164	4,629,852
Long-term debt less current maturities (Note 2)	3,440,857	2,906,215
Total capitalization	8,068,021	7,536,067
TOTAL LIABILITIES AND EQUITY	$ 14,640,785	$ 14,215,004