CONDENSED CONSOLIDATED STATEMENTS OF INCOME (APSC) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
OPERATING EXPENSES
Fuel and purchased power	$ 290,854	$ 277,584	$ 540,640	$ 508,263
Operations and maintenance	211,222	229,300	424,104	452,550
Depreciation and amortization	105,150	106,292	206,922	210,022
Taxes other than income taxes	44,004	40,814	89,849	80,835
Total	652,151	656,010	1,263,232	1,255,739
OPERATING INCOME	254,113	259,812	329,283	346,735
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction	7,499	6,265	14,941	13,129
Other income (Note S-2)	2,781	469	5,148	1,227
Other expense (Note S-2)	(508)	(2,234)	(5,192)	(5,986)
Total	9,772	4,500	14,897	8,370
INTEREST EXPENSE
Allowance for borrowed funds used during construction	(3,790)	(3,636)	(7,560)	(7,626)
Total	47,961	47,671	97,160	93,159
NET INCOME	141,384	139,598	166,075	172,434
Less: Net income attributable to noncontrolling interests (Note 6)	8,926	8,391	17,851	16,783
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	132,458	131,207	148,224	155,651
ARIZONA PUBLIC SERVICE COMPANY
ELECTRIC OPERATING REVENUES	905,578	915,065	1,591,123	1,600,892
OPERATING EXPENSES
Fuel and purchased power	290,854	277,584	540,640	508,263
Operations and maintenance	208,059	224,950	416,344	445,702
Depreciation and amortization	105,127	106,268	206,875	209,974
Income taxes	77,371	81,952	87,849	98,012
Taxes other than income taxes	43,773	40,583	89,386	80,351
Total	725,184	731,337	1,341,094	1,342,302
OPERATING INCOME	180,394	183,728	250,029	258,590
OTHER INCOME (DEDUCTIONS)
Income taxes	1,568	3,100	2,778	5,432
Allowance for equity funds used during construction	7,499	6,265	14,941	13,129
Other income (Note S-2)	3,221	948	5,983	2,291
Other expense (Note S-2)	(1,477)	(4,844)	(6,533)	(11,140)
Total	10,811	5,469	17,169	9,712
INTEREST EXPENSE
Interest on long-term debt	48,462	47,543	97,358	93,764
Interest on short-term borrowings	1,637	1,968	3,050	3,397
Debt discount, premium and expense	1,054	982	2,065	1,993
Allowance for borrowed funds used during construction	(3,790)	(3,636)	(7,560)	(7,626)
Total	47,363	46,857	94,913	91,528
NET INCOME	143,842	142,340	172,285	176,774
Less: Net income attributable to noncontrolling interests (Note 6)	8,926	8,391	17,851	16,783
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 134,916	$ 133,949	$ 154,434	$ 159,991