CONDENSED CONSOLIDATED STATEMENTS OF INCOME (APSC) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
OPERATING EXPENSES
Fuel and purchased power	$ 264,723	$ 244,049	$ 481,032	$ 456,056
Operations and maintenance	216,236	210,590	426,899	465,619
Depreciation and amortization	100,606	106,617	200,715	213,200
Taxes other than income taxes	41,289	40,155	83,764	77,779
Total	624,087	602,807	1,196,711	1,215,870
OPERATING INCOME	254,489	196,992	302,496	232,776
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction	5,175	5,924	9,931	11,319
Other income (Note S-2)	177	557	937	2,247
Other expense (Note S-2)	(2,669)	(3,186)	(6,737)	(4,927)
Total	2,683	3,295	4,131	8,639
INTEREST EXPENSE
Allowance for borrowed funds used during construction	(3,447)	(3,856)	(6,598)	(7,432)
Total	49,553	56,284	103,369	113,785
NET INCOME	130,111	93,839	129,630	84,165
Less: Net income attributable to noncontrolling interests (Note 7)	7,766	7,154	15,542	12,615
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	122,345	86,685	114,088	71,550
ARIZONA PUBLIC SERVICE COMPANY
ELECTRIC OPERATING REVENUES	877,587	798,686	1,497,835	1,446,680
OPERATING EXPENSES
Fuel and purchased power	264,723	244,048	481,032	456,056
Operations and maintenance	213,746	208,597	422,193	461,203
Depreciation and amortization	100,583	106,594	200,668	213,152
Income taxes	80,696	54,259	79,882	48,255
Taxes other than income taxes	41,018	39,788	83,244	77,038
Total	700,766	653,286	1,267,019	1,255,704
OPERATING INCOME	176,821	145,400	230,816	190,976
OTHER INCOME (DEDUCTIONS)
Income taxes	2,030	1,565	3,736	225
Allowance for equity funds used during construction	5,175	5,924	9,931	11,319
Other income (Note S-2)	1,018	1,233	1,528	3,211
Other expense (Note S-2)	(3,993)	(4,651)	(8,617)	(8,243)
Total	4,230	4,071	6,578	6,512
INTEREST EXPENSE
Interest on long-term debt	48,838	54,754	101,575	109,491
Interest on short-term borrowings	1,914	2,521	3,949	4,829
Debt discount, premium and expense	1,052	1,164	2,112	2,321
Allowance for borrowed funds used during construction	(3,447)	(3,857)	(6,598)	(7,432)
Total	48,357	54,582	101,038	109,209
NET INCOME	132,694	94,889	136,356	88,279
Less: Net income attributable to noncontrolling interests (Note 7)	7,766	7,184	15,533	12,654
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 124,928	$ 87,705	$ 120,823	$ 75,625