ARIZONA PUBLIC SERVICE COMPANY - CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
PROPERTY, PLANT AND EQUIPMENT
Plant in service and held for future use	$ 25,895,037	$ 25,860,950
Accumulated depreciation and amortization	(8,690,747)	(9,027,426)
Net	17,204,290	16,833,524
Construction work in progress	2,087,779	1,592,659
Palo Verde sale leaseback, net of accumulated depreciation (Note 8)	80,622	82,556
Intangible assets, net of accumulated amortization	569,047	591,310
Nuclear fuel, net of accumulated amortization	120,267	97,850
Total property, plant and equipment	20,062,005	19,197,899
INVESTMENTS AND OTHER ASSETS
Nuclear decommissioning trusts (Notes 13 and 14)	1,337,858	1,282,845
Other special use funds (Notes 13 and 14)	423,332	408,357
Assets from risk management activities (Note 9)	34,203	5,980
Other assets	140,619	115,095
Total investments and other assets	1,936,012	1,812,277
CURRENT ASSETS
Cash and cash equivalents	18,841	3,838
Customer and other receivables	569,656	525,608
Accrued unbilled revenues (Note 4)	272,327	176,903
Allowance for doubtful accounts (Note 4)	(17,449)	(24,849)
Materials and supplies (at average cost)	509,269	469,022
Fossil fuel (at average cost)	17,670	32,420
Assets from risk management activities (Note 9)	10,903	10,578
Deferred fuel and purchased power regulatory asset (Note 6)	182,412	287,597
Other regulatory assets (Note 6)	121,436	133,372
Other current assets	102,843	74,915
Total current assets	1,787,908	1,689,404
DEFERRED DEBITS
Regulatory assets (Note 6)	1,357,382	1,389,489
Operating lease right-of-use assets (Note 16)	3,638,906	1,605,463
Assets for pension and other postretirement benefits (Note 7)	364,229	342,102
Other	88,739	66,126
Total deferred debits	5,449,256	3,403,180
TOTAL ASSETS	29,235,181	26,102,760
CAPITALIZATION
Retained earnings	3,641,148	3,666,959
Accumulated other comprehensive loss (Note 15)	(30,441)	(30,942)
Total shareholder equity	6,726,788	6,754,311
Noncontrolling interests (Note 8)	101,152	103,167
Total equity	6,827,940	6,857,478
Long-term debt less current maturities (Note NA)	8,507,002	8,058,648
CURRENT LIABILITIES
Short-term borrowings (Note 5)	1,405,000	568,450
Current maturities of long-term debt (Note 5)	350,000	800,000
Accounts payable	668,664	485,426
Accrued taxes	205,460	175,863
Accrued interest	84,760	81,799
Common dividends payable	106,869	106,592
Customer deposits	53,272	44,345
Liabilities from risk management activities (Note 9)	25,692	52,340
Liabilities for asset retirements	41,226	50,009
Operating lease liabilities (Note 16)	191,628	100,367
Regulatory liabilities (Note 6)	182,458	206,955
Other current liabilities	112,213	171,651
Total current liabilities	3,427,242	2,843,797
DEFERRED CREDITS AND OTHER
Deferred income taxes	2,465,821	2,444,473
Regulatory liabilities (Note 6)	1,912,279	1,855,278
Liabilities for asset retirements	1,123,521	1,096,577
Liabilities for pension benefits (Note 7)	147,929	139,317
Liabilities from risk management activities (Note 9)	7,144	9,446
Customer advances	580,656	569,343
Coal mine reclamation	155,600	171,483
Deferred investment tax credit	246,189	249,490
Unrecognized tax benefits	45,815	44,233
Operating lease liabilities (Note 16)	3,550,894	1,520,877
Other	237,149	242,320
Total deferred credits and other	10,472,997	8,342,837
COMMITMENTS AND CONTINGENCIES (Note 10)
TOTAL LIABILITIES AND EQUITY	29,235,181	26,102,760
APS
PROPERTY, PLANT AND EQUIPMENT
Plant in service and held for future use	25,894,155	25,860,068
Accumulated depreciation and amortization	(8,689,865)	(9,026,544)
Net	17,204,290	16,833,524
Construction work in progress	2,087,779	1,592,659
Palo Verde sale leaseback, net of accumulated depreciation (Note 8)	80,622	82,556
Intangible assets, net of accumulated amortization	568,892	591,154
Nuclear fuel, net of accumulated amortization	120,267	97,850
Total property, plant and equipment	20,061,850	19,197,743
INVESTMENTS AND OTHER ASSETS
Nuclear decommissioning trusts (Notes 13 and 14)	1,337,858	1,282,845
Other special use funds (Notes 13 and 14)	384,792	374,156
Assets from risk management activities (Note 9)	34,203	5,980
Other assets	51,495	49,673
Total investments and other assets	1,808,348	1,712,654
CURRENT ASSETS
Cash and cash equivalents	14,480	3,815
Customer and other receivables	566,896	522,886
Accrued unbilled revenues (Note 4)	272,327	176,903
Allowance for doubtful accounts (Note 4)	(17,449)	(24,849)
Materials and supplies (at average cost)	509,269	469,022
Fossil fuel (at average cost)	17,670	32,420
Income tax receivable	42	5,463
Assets from risk management activities (Note 9)	10,903	10,578
Deferred fuel and purchased power regulatory asset (Note 6)	182,412	287,597
Other regulatory assets (Note 6)	121,436	133,372
Other current assets	93,685	65,754
Total current assets	1,771,671	1,682,961
DEFERRED DEBITS
Regulatory assets (Note 6)	1,357,382	1,389,489
Operating lease right-of-use assets (Note 16)	3,637,830	1,604,324
Assets for pension and other postretirement benefits (Note 7)	357,444	335,458
Other	88,107	65,606
Total deferred debits	5,440,763	3,394,877
TOTAL ASSETS	29,082,632	25,988,235
CAPITALIZATION
Common stock	178,162	178,162
Additional paid-in capital	4,416,696	4,116,696
Retained earnings	3,983,202	3,992,423
Accumulated other comprehensive loss (Note 15)	(13,846)	(14,116)
Total shareholder equity	8,564,214	8,273,165
Noncontrolling interests (Note 8)	101,152	103,167
Total equity	8,665,366	8,376,332
Long-term debt less current maturities (Note NA)	7,193,037	7,190,878
Total capitalization	15,858,403	15,567,210
CURRENT LIABILITIES
Short-term borrowings (Note 5)	1,125,400	339,900
Current maturities of long-term debt (Note 5)	0	300,000
Accounts payable	662,610	481,955
Accrued taxes	226,603	181,698
Accrued interest	77,586	79,308
Common dividends payable	106,900	107,200
Customer deposits	53,272	44,345
Liabilities from risk management activities (Note 9)	25,692	52,340
Liabilities for asset retirements	41,226	50,009
Operating lease liabilities (Note 16)	191,484	100,229
Regulatory liabilities (Note 6)	182,458	206,955
Other current liabilities	108,544	177,019
Total current liabilities	2,801,775	2,120,958
DEFERRED CREDITS AND OTHER
Deferred income taxes	2,431,120	2,419,937
Regulatory liabilities (Note 6)	1,912,279	1,855,278
Liabilities for asset retirements	1,123,521	1,096,577
Liabilities for pension benefits (Note 7)	144,581	134,855
Liabilities from risk management activities (Note 9)	7,144	9,446
Customer advances	580,656	569,343
Coal mine reclamation	155,600	171,483
Deferred investment tax credit	246,189	249,490
Unrecognized tax benefits	50,307	48,725
Operating lease liabilities (Note 16)	3,549,774	1,519,683
Other	221,283	225,250
Total deferred credits and other	10,422,454	8,300,067
COMMITMENTS AND CONTINGENCIES (Note 10)
TOTAL LIABILITIES AND EQUITY	$ 29,082,632	$ 25,988,235