Changes in Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2025

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Changes in Accumulated Other Comprehensive Loss

The following tables show the changes in Pinnacle West’s consolidated accumulated other comprehensive loss, including reclassification adjustments, net of tax, by component (dollars in thousands):


	Pension and Other Postretirement Benefits			Derivative Instruments		Total
Three Months Ended June 30
Balance March 31, 2025	$	(31,163)		$	1,069	$	(30,094)
Other comprehensive (loss) before reclassifications	(503)			(294)		(797)
Amounts reclassified from accumulated other comprehensive loss	450		(a)	—		450
Balance June 30, 2025	$	(31,216)		$	775	$	(30,441)

Balance March 31, 2024	$	(34,192)		$	1,610	$	(32,582)
Other comprehensive (loss) before reclassifications	(778)			(399)		(1,177)
Amounts reclassified from accumulated other comprehensive loss	465		(a)	—		465
Balance June 30, 2024	$	(34,505)		$	1,211	$	(33,294)

(a) These amounts primarily represent amortization of actuarial loss and are included in the computation of net periodic pension cost. See Note 7


	Pension and Other Postretirement Benefits			Derivative Instruments		Total
Six Months Ended June 30
Balance December 31, 2024	$	(31,661)		$	719	$	(30,942)
Other comprehensive income/(loss) before reclassifications	(503)			56		(447)
Amounts reclassified from accumulated other comprehensive loss	948		(a)	—		948
Balance June 30, 2025	$	(31,216)		$	775	$	(30,441)

Balance December 31, 2023	$	(34,754)		$	1,610	$	(33,144)
Other comprehensive (loss) before reclassifications	(778)			(399)		(1,177)
Amounts reclassified from accumulated other comprehensive loss	1,027		(a)	—		1,027
Balance June 30, 2024	$	(34,505)		$	1,211	$	(33,294)

(a) These amounts primarily represent amortization of actuarial loss and are included in the computation of net periodic pension cost. See Note 7.

The following tables show the changes in APS’s accumulated other comprehensive loss, including reclassification adjustments, net of tax, by component (dollars in thousands):


	Pension and Other Postretirement Benefits
Three Months Ended June 30
Balance March 31, 2025	$	(13,710)
Other comprehensive (loss) before reclassifications	(504)
Amounts reclassified from accumulated other comprehensive loss	368		(a)
Balance June 30, 2025	$	(13,846)

Balance March 31, 2024	$	(16,729)
Other comprehensive (loss) before reclassifications	(717)
Amounts reclassified from accumulated other comprehensive loss	410		(a)
Balance June 30, 2024	$	(17,036)

(a) These amounts primarily represent amortization of actuarial loss and are included in the computation of net periodic pension cost. See Note 7.


	Pension and Other Postretirement Benefits
Six Months Ended June 30
Balance December 31, 2024	$	(14,116)
Other comprehensive (loss) before reclassifications	(504)
Amounts reclassified from accumulated other comprehensive loss	774		(a)
Balance June 30, 2025	$	(13,846)

Balance December 31, 2023	$	(17,219)
Other comprehensive (loss) before reclassifications	(717)
Amounts reclassified from accumulated other comprehensive loss	900		(a)
Balance June 30, 2024	$	(17,036)

(a) These amounts primarily represent amortization of actuarial loss and are included in the computation of net periodic pension cost. See Note 7.