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Financial Instruments And Investments (Tables)
 9 Months Ended
Sep. 30, 2015
Fair Value Disclosures [Abstract]  
Fair Values Of Long-Term Debt And Short-Term Borrowings Under the RCF
Long-Term Debt and Short-Term Borrowings Under the RCF. The fair values of the Company's long-term debt and short-term borrowings under the RCF are based on estimated market prices for similar issues and are presented below (in thousands): 
 
September 30, 2015
 
December 31, 2014
 
Carrying
Amount
 
Estimated
Fair
Value
 
Carrying
Amount
 
Estimated
Fair
Value
Pollution Control Bonds
$
193,135

 
$
210,179

 
$
193,135

 
$
213,083

Senior Notes
846,123

 
994,040

 
846,044

 
968,728

RGRT Senior Notes (1)
95,000

 
101,745

 
110,000

 
117,215

RCF (1)
118,693

 
118,693

 
14,532

 
14,532

Total
$
1,252,951

 
$
1,424,657

 
$
1,163,711

 
$
1,313,558

_______________ 
(1)
Nuclear fuel financing of $95 million at September 30, 2015 and $110 million at December 31, 2014, is funded through the RGRT Senior Notes and $33.7 million and $14.5 million, respectively under the RCF. As of September 30, 2015, $85.0 million was outstanding under the RCF for working capital or general corporate purposes. As of December 31, 2014, no amount was outstanding under the RCF for working capital or general corporate purposes. The interest rate on the Company's borrowings under the RCF is reset throughout the quarter reflecting current market rates. Consequently, the carrying value approximates fair value.
Unrecognized Gross Unrealized Gains (Losses) And the Fair Value
The tables below present the gross unrealized losses and the fair value of these securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): 
 
September 30, 2015
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Description of Securities (1):
 
 
 
 
 
 
 
 
 
 
 
Federal Agency Mortgage Backed Securities
$
94

 
$
(1
)
 
$
2,197

 
$
(46
)
 
$
2,291

 
$
(47
)
U.S. Government Bonds
6,375

 
(58
)
 
13,402

 
(432
)
 
19,777

 
(490
)
Municipal Obligations
10,994

 
(244
)
 
9,019

 
(493
)
 
20,013

 
(737
)
Corporate Obligations
7,036

 
(406
)
 
1,629

 
(135
)
 
8,665

 
(541
)
Total Debt Securities
24,499

 
(709
)
 
26,247

 
(1,106
)
 
50,746

 
(1,815
)
Common Stock
6,958

 
(908
)
 
—

 
—

 
6,958

 
(908
)
Institutional Funds-International Equity
21,536

 
(1,725
)
 
—

 
—

 
21,536

 
(1,725
)
Equity Mutual Funds
8,792

 
(502
)
 
—

 
—

 
8,792

 
(502
)
Total Temporarily Impaired Securities
$
61,785

 
$
(3,844
)
 
$
26,247

 
$
(1,106
)
 
$
88,032

 
$
(4,950
)
 
_________________
(1)
Includes 141 securities.
 
December 31, 2014
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Description of Securities (2):
 
 
 
 
 
 
 
 
 
 
 
Federal Agency Mortgage Backed Securities
$
—

 
$
—

 
$
2,383

 
$
(57
)
 
$
2,383

 
$
(57
)
U.S. Government Bonds
1,552

 
(2
)
 
20,060

 
(573
)
 
21,612

 
(575
)
Municipal Obligations
6,433

 
(65
)
 
8,570

 
(410
)
 
15,003

 
(475
)
Corporate Obligations
2,455

 
(24
)
 
2,461

 
(111
)
 
4,916

 
(135
)
Total Debt Securities
10,440

 
(91
)
 
33,474

 
(1,151
)
 
43,914

 
(1,242
)
Common Stock
1,475

 
(229
)
 
—

 
—

 
1,475

 
(229
)
Institutional Funds-International Equity
22,736

 
(821
)
 
—

 
—

 
22,736

 
(821
)
Total Temporarily Impaired Securities
$
34,651

 
$
(1,141
)
 
$
33,474

 
$
(1,151
)
 
$
68,125

 
$
(2,292
)
 
_________________
(2)
Includes 106 securities.
The Company monitors the length of time the security trades below its cost basis along with the amount and percentage of the unrealized loss in determining if a decline in fair value of marketable securities below recorded cost is considered to be other than temporary. In addition, the Company will research the future prospects of individual securities as necessary. As a result of these factors, as well as the Company's intent and ability to hold these securities until their market price recovers, these securities are considered temporarily impaired. The Company does not anticipate expending monies held in trust before 2044 or a later period when the Company is expected or is scheduled to decommission Palo Verde.
The reported fair values also include gross unrealized gains on marketable securities which have not been recognized in the Company's net income. The table below presents the unrecognized gross unrealized gains and the fair value of these securities, aggregated by investment category (in thousands): 
 
September 30, 2015
 
December 31, 2014
 
Fair
Value
 
Unrealized
Gains
 
Fair
Value
 
Unrealized
Gains
Description of Securities:
 
 
 
 
 
 
 
Federal Agency Mortgage Backed Securities
$
18,780

 
$
562

 
$
15,388

 
$
665

U.S. Government Bonds
25,250

 
468

 
20,016

 
567

Municipal Obligations
10,288

 
371

 
11,642

 
595

Corporate Obligations
11,419

 
490

 
13,762

 
850

Total Debt Securities
65,737

 
1,891

 
60,808

 
2,677

Common Stock
72,309

 
35,032

 
99,160

 
48,253

Cash and Cash Equivalents
5,807

 
—

 
6,193

 
—

Total
$
143,853

 
$
36,923

 
$
166,161

 
$
50,930
Contractual Year For Maturity Of Available-For-Sale Securities
The contractual year for maturity of these available-for-sale securities as of September 30, 2015 is as follows (in thousands): 
 
Total
 
2015
 
2016
through
2019
 
2020 through 2024
 
2025 and Beyond
Municipal Debt Obligations
$
30,301

 
$
—

 
$
10,193

 
$
13,526

 
$
6,582

Corporate Debt Obligations
20,084

 
697

 
5,720

 
7,594

 
6,073

U.S. Government Bonds
45,027

 
3,051

 
15,666

 
16,844

 
9,466
Sale of Securities And The Related Effects On Pre-Tax Income
The proceeds from the sale of these securities and the related effects on pre-tax income are as follows (in thousands): 
 
Three Months Ended
 
Nine Months Ended
 
Twelve Months Ended
 
September 30,
 
September 30,
 
September 30,
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Proceeds from sales or maturities of available-for-sale securities
$
26,618

 
$
10,980

 
$
63,776

 
$
47,355

 
$
124,732

 
$
74,083

Gross realized gains included in pre-tax income
$
4,515

 
$
1,239

 
$
8,330

 
$
4,502

 
$
12,467

 
$
4,895

Gross realized losses included in pre-tax income
(191
)
 
(415
)
 
(443
)
 
(711
)
 
(1,021
)
 
(838
)
Net gains in pre-tax income
$
4,324

 
$
824

 
$
7,887

 
$
3,791

 
$
11,446

 
$
4,057

Net unrealized holding gains (losses) included in accumulated other comprehensive income
$
(8,092
)
 
$
897

 
$
(8,641
)
 
$
7,965

 
$
(5,779
)
 
$
16,803

Net gains reclassified out of accumulated other comprehensive income
(4,324
)
 
(824
)
 
(7,887
)
 
(3,791
)
 
(11,446
)
 
(4,057
)
Net gains (losses) in other comprehensive income
$
(12,416
)
 
$
73

 
$
(16,528
)
 
$
4,174

 
$
(17,225
)
 
$
12,746
Fair Value, Measurement Inputs, Disclosure
The fair value of the Company's decommissioning trust funds and investment in debt securities, at September 30, 2015 and December 31, 2014, and the level within the three levels of the fair value hierarchy defined by FASB guidance are presented in the table below (in thousands): 
Description of Securities
Fair Value as of September 30, 2015
 
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Trading Securities:
 
 
 
 
 
 
 
Investments in Debt Securities
$
1,573

 
$
—

 
$
—

 
$
1,573

Available for sale:
 
 
 
 
 
 
 
U.S. Government Bonds
$
45,027

 
$
45,027

 
$
—

 
$
—

Federal Agency Mortgage Backed Securities
21,071

 
—

 
21,071

 
—

Municipal Obligations
30,301

 
—

 
30,301

 
—

Corporate Obligations
20,084

 
—

 
20,084

 
—

Subtotal, Debt Securities
116,483

 
45,027

 
71,456

 
—

Common Stock
79,267

 
79,267

 
—

 
—

Equity Mutual Funds
8,792

 
8,792

 
—

 
—

Institutional Funds-International Equity
21,536

 
—

 
21,536

 
—

Cash and Cash Equivalents
5,807

 
5,807

 
—

 
—

Total available for sale
$
231,885

 
$
138,893

 
$
92,992

 
$
—

Description of Securities
Fair Value as of December 31, 2014
 
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Trading Securities:
 
 
 
 
 
 
 
Investments in Debt Securities
$
1,653

 
$
—

 
$
—

 
$
1,653

Available for sale:
 
 
 
 
 
 
 
U.S. Government Bonds
$
41,628

 
$
41,628

 
$
—

 
$
—

Federal Agency Mortgage Backed Securities
17,771

 
—

 
17,771

 
—

Municipal Obligations
26,645

 
—

 
26,645

 
—

Corporate Obligations
18,678

 
—

 
18,678

 
—

Subtotal, Debt Securities
104,722

 
41,628

 
63,094

 
—

Common Stock
100,635

 
100,635

 
—

 
—

Institutional Funds-International Equity
22,736

 
—

 
22,736

 
—

Cash and Cash Equivalents
6,193

 
6,193

 
—

 
—

Total available for sale
$
234,286

 
$
148,456

 
$
85,830

 
$
—