ARIZONA PUBLIC SERVICE COMPANY - CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total		Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests		APS		APS Common Stock	APS Additional Paid-In Capital	APS Retained Earnings	APS Accumulated Other Comprehensive Income (Loss)	APS Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2022			113,247,189							71,264,947
Beginning balance at Dec. 31, 2022	$ 6,159,876		$ 2,724,740	$ 3,360,347	$ (31,435)	$ 111,229		$ 7,052,955		$ 178,162	$ 3,171,696	$ 3,607,464	$ (15,596)	$ 111,229
Increase (Decrease) in Shareholders' Equity
Equity infusion from Pinnacle West								150,000			150,000
Net income	518,781			501,557		17,224		564,561				547,337		17,224
Other comprehensive (loss) income	(1,709)				(1,709)			(1,623)					(1,623)
Dividends on common stock	(395,585)			(395,585)				(395,500)				(395,500)
Capital activities by noncontrolling interests	(21,255)					(21,255)		(21,255)						(21,255)
Other	(3)			(2)				(2)				(2)		0
Ending balance (in shares) at Dec. 31, 2023			113,537,689							71,264,947
Ending balance at Dec. 31, 2023	6,284,862		$ 2,752,676	3,466,317	(33,144)	107,198		7,349,136		$ 178,162	3,321,696	3,759,299	(17,219)	107,198
Increase (Decrease) in Shareholders' Equity
Equity infusion from Pinnacle West								795,000			795,000
Net income	626,030			608,806		17,224		659,149				641,925		17,224
Other comprehensive (loss) income	2,202				2,202			3,103					3,103
Dividends on common stock	(408,162)			(408,162)				(408,800)				(408,800)
Capital activities by noncontrolling interests	(21,255)					(21,255)		(21,255)						(21,255)
Other	$ (1)			(2)				(1)				(1)
Ending balance (in shares) at Dec. 31, 2024	119,143,782		119,143,782							71,264,947
Ending balance at Dec. 31, 2024	$ 6,857,478		$ 3,121,617	3,666,959	(30,942)	103,167		8,376,332		$ 178,162	4,116,696	3,992,423	(14,116)	103,167
Increase (Decrease) in Shareholders' Equity
Equity infusion from Pinnacle West								375,000			375,000
Net income	631,643			616,531		15,112		682,427				667,315		15,112
Other comprehensive (loss) income	(1,466)				(1,466)			(1,341)					(1,341)
Dividends on common stock	(432,671)			(432,671)				(432,500)				(432,500)
Capital activities by noncontrolling interests	(18,041)					(18,041)		(18,041)						(18,041)
Deconsolidation of noncontrolling interests	(59,621)	[1]				(59,621)	[1]	(59,621)	[2]					(59,621)	[2]
Other	$ (2)			(2)				(1)				(1)
Ending balance (in shares) at Dec. 31, 2025	120,950,839		120,950,839							71,264,947
Ending balance at Dec. 31, 2025	$ 7,087,075		$ 3,231,372	$ 3,850,817	$ (32,408)	$ 40,617		$ 8,922,255		$ 178,162	$ 4,491,696	$ 4,227,237	$ (15,457)	$ 40,617

[1] See Note 12 for information related to the Palo Verde sale leaseback purchases.

[2] See Note 12 for information related to the Palo Verde sale leaseback purchases.