XML 147 R121.htm IDEA: XBRL DOCUMENT v3.25.4
Fair Value Measurements - Schedule of Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
Cash equivalents   $ 23
Nuclear decommissioning trusts: $ 1,414,166 1,282,845
Nuclear decommissioning trust, other 496,793 426,404
Other special use funds: 434,827 408,357
Other special use funds, other 3,199 2,851
Total assets 1,857,380 1,707,783
Total assets, other 489,032 425,485
Commodity contracts    
ASSETS    
Commodity contracts, other (10,960) (3,770)
Derivative asset, total 8,387 16,558
LIABILITIES    
Derivative instruments, other 8,399 817
Derivative liability, total (36,636) (61,786)
Cash equivalents    
ASSETS    
Other special use funds:   25,000
Other special use funds, other   0
Equity securities    
ASSETS    
Nuclear decommissioning trusts: 15,171 15,736
Nuclear decommissioning trust, other (3,799) 3,335
Other special use funds: 65,772 27,813
Other special use funds, other 3,199 2,851
U.S. commingled equity funds    
ASSETS    
Nuclear decommissioning trusts: 500,592 423,069
U.S. Treasury debt    
ASSETS    
Nuclear decommissioning trusts: 364,943 367,396
Other special use funds: 369,055 355,544
Corporate debt    
ASSETS    
Nuclear decommissioning trusts: 242,176 203,180
Mortgage-backed securities    
ASSETS    
Nuclear decommissioning trusts: 230,695 208,533
Municipal bonds    
ASSETS    
Nuclear decommissioning trusts: 37,572 37,429
Other fixed income    
ASSETS    
Nuclear decommissioning trusts: 23,017 27,502
Level 1    
ASSETS    
Cash equivalents   23
Nuclear decommissioning trusts: 383,913 379,255
Other special use funds: 431,628 405,506
Total assets 815,541 784,784
Level 1 | Commodity contracts    
ASSETS    
Commodity contracts 0 0
LIABILITIES    
Derivative instruments 0 0
Level 1 | Pinnacle West Captive Insurance Cell    
ASSETS    
Other special use funds: 40,300 34,200
Level 1 | Cash equivalents    
ASSETS    
Other special use funds:   25,000
Level 1 | Cash equivalents | Pinnacle West Captive Insurance Cell    
ASSETS    
Other special use funds:   25,000
Level 1 | Equity securities    
ASSETS    
Nuclear decommissioning trusts: 18,970 11,859
Other special use funds: 62,573 24,962
Level 1 | Equity securities | Pinnacle West Captive Insurance Cell    
ASSETS    
Other special use funds:   9,200
Level 1 | U.S. commingled equity funds    
ASSETS    
Nuclear decommissioning trusts: 0 0
Level 1 | U.S. Treasury debt    
ASSETS    
Nuclear decommissioning trusts: 364,943 367,396
Other special use funds: 369,055 355,544
Level 1 | Corporate debt    
ASSETS    
Nuclear decommissioning trusts: 0 0
Level 1 | Mortgage-backed securities    
ASSETS    
Nuclear decommissioning trusts: 0 0
Level 1 | Municipal bonds    
ASSETS    
Nuclear decommissioning trusts: 0 0
Level 1 | Other fixed income    
ASSETS    
Nuclear decommissioning trusts: 0 0
Level 2    
ASSETS    
Cash equivalents   0
Nuclear decommissioning trusts: 533,460 477,186
Other special use funds: 0 0
Total assets 552,807 490,338
Level 2 | Commodity contracts    
ASSETS    
Commodity contracts 19,347 13,152
LIABILITIES    
Derivative instruments (21,325) (40,388)
Level 2 | Cash equivalents    
ASSETS    
Other special use funds:   0
Level 2 | Equity securities    
ASSETS    
Nuclear decommissioning trusts: 0 542
Other special use funds: 0 0
Level 2 | U.S. commingled equity funds    
ASSETS    
Nuclear decommissioning trusts: 0 0
Level 2 | U.S. Treasury debt    
ASSETS    
Nuclear decommissioning trusts: 0 0
Other special use funds: 0 0
Level 2 | Corporate debt    
ASSETS    
Nuclear decommissioning trusts: 242,176 203,180
Level 2 | Mortgage-backed securities    
ASSETS    
Nuclear decommissioning trusts: 230,695 208,533
Level 2 | Municipal bonds    
ASSETS    
Nuclear decommissioning trusts: 37,572 37,429
Level 2 | Other fixed income    
ASSETS    
Nuclear decommissioning trusts: 23,017 27,502
Level 3    
ASSETS    
Cash equivalents   0
Nuclear decommissioning trusts: 0 0
Other special use funds: 0 0
Total assets 0 7,176
Level 3 | Commodity contracts    
ASSETS    
Commodity contracts 0 7,176
LIABILITIES    
Derivative instruments (23,710) (22,215)
Level 3 | Cash equivalents    
ASSETS    
Other special use funds:   0
Level 3 | Equity securities    
ASSETS    
Nuclear decommissioning trusts: 0 0
Other special use funds: 0 0
Level 3 | U.S. commingled equity funds    
ASSETS    
Nuclear decommissioning trusts: 0 0
Level 3 | U.S. Treasury debt    
ASSETS    
Nuclear decommissioning trusts: 0 0
Other special use funds: 0 0
Level 3 | Corporate debt    
ASSETS    
Nuclear decommissioning trusts: 0 0
Level 3 | Mortgage-backed securities    
ASSETS    
Nuclear decommissioning trusts: 0 0
Level 3 | Municipal bonds    
ASSETS    
Nuclear decommissioning trusts: 0 0
Level 3 | Other fixed income    
ASSETS    
Nuclear decommissioning trusts: 0 0
Fair Value Measured at Net Asset Value Per Share | U.S. commingled equity funds    
ASSETS    
Nuclear decommissioning trusts:   $ 423,069
Nuclear decommissioning trust, other $ 500,592