CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
CURRENT ASSETS
Cash and cash equivalents	$ 14,484	$ 39,488
Customer and other receivables	215,808	274,691
Accrued unbilled revenues	89,795	96,240
Allowance for doubtful accounts	(2,427)	(3,125)
Materials and supplies (at average cost)	234,179	234,234
Fossil fuel (at average cost)	44,227	45,697
Income tax receivable	4,637	589
Assets from risk management activities (Note 6)	16,089	15,905
Regulatory assets (Note 3)	168,753	149,555
Other current assets	40,480	37,242
Total current assets	826,025	890,516
INVESTMENTS AND OTHER ASSETS
Assets from risk management activities (Note 6)	8,612	12,106
Nuclear decommissioning trust (Note 11)	751,954	735,196
Other assets	52,679	52,518
Total investments and other assets	813,245	799,820
PROPERTY, PLANT AND EQUIPMENT
Plant in service and held for future use	16,285,916	16,222,232
Accumulated depreciation and amortization	(5,670,884)	(5,594,094)
Net	10,615,032	10,628,138
Construction work in progress	1,038,046	816,307
Palo Verde sale leaseback, net of accumulated depreciation (Note 5)	116,418	117,385
Intangible assets, net of accumulated amortization	116,014	123,975
Nuclear fuel, net of accumulated amortization	138,424	123,139
Total property, plant and equipment	12,023,934	11,808,944
DEFERRED DEBITS
Regulatory assets (Note 3)	1,203,474	1,214,146
Assets for other postretirement benefits (Note 4)	190,458	185,997
Other	127,965	128,835
Total deferred debits	1,521,897	1,528,978
TOTAL ASSETS	15,185,101	15,028,258
CURRENT LIABILITIES
Accounts payable	234,946	297,480
Accrued taxes	181,889	138,600
Accrued interest	44,489	56,305
Common dividends payable	0	69,363
Short-term borrowings (Note 2)	261,800	0
Current maturities of long-term debt (Note 2)	357,580	357,580
Customer deposits	78,825	73,073
Liabilities from risk management activities (Note 6)	93,283	77,716
Liabilities for asset retirements	17,217	28,573
Deferred fuel and purchased power regulatory liability (Note 3)	13,083	9,688
Other regulatory liabilities (Note 3)	122,471	136,078
Other current liabilities	180,319	197,861
Total current liabilities	1,585,902	1,442,317
LONG-TERM DEBT LESS CURRENT MATURITIES (Note 2)	3,463,032	3,462,391
DEFERRED CREDITS AND OTHER
Deferred income taxes	2,726,220	2,723,425
Regulatory liabilities (Note 3)	1,009,418	994,152
Liabilities for asset retirements	429,626	415,003
Liabilities for pension benefits (Note 4)	441,605	480,998
Liabilities from risk management activities (Note 6)	85,603	89,973
Customer advances	110,056	115,609
Coal mine reclamation	202,069	201,984
Deferred investment tax credit	186,966	187,080
Unrecognized tax benefits	9,631	9,524
Other	194,560	186,345
Total deferred credits and other	$ 5,395,754	$ 5,404,093
COMMITMENTS AND CONTINGENCIES (SEE NOTES)
EQUITY
Common stock, no par value; authorized 150,000,000 shares, 111,147,524 and 111,095,402 issued at respective dates	$ 2,547,065	$ 2,541,668
Treasury stock at cost; 7,936 and 115,030 shares at respective dates	(542)	(5,806)
Total common stock	2,546,523	2,535,862
Retained earnings	2,097,246	2,092,803
Accumulated other comprehensive loss:
Pension and other postretirement benefits	(37,063)	(37,593)
Derivative instruments	(6,707)	(7,155)
Total accumulated other comprehensive loss	(43,770)	(44,748)
Total shareholders’ equity	4,599,999	4,583,917
Noncontrolling interests (Note 5)	140,414	135,540
Total equity	4,740,413	4,719,457
TOTAL LIABILITIES AND EQUITY	15,185,101	15,028,258
Arizona Public Service Company
CURRENT ASSETS
Cash and cash equivalents	4,904	22,056
Customer and other receivables	215,351	274,428
Accrued unbilled revenues	89,795	96,240
Allowance for doubtful accounts	(2,427)	(3,125)
Materials and supplies (at average cost)	234,179	234,234
Fossil fuel (at average cost)	44,227	45,697
Assets from risk management activities (Note 6)	16,089	15,905
Regulatory assets (Note 3)	168,753	149,555
Other current assets	39,043	35,765
Total current assets	809,914	870,755
INVESTMENTS AND OTHER ASSETS
Assets from risk management activities (Note 6)	8,612	12,106
Nuclear decommissioning trust (Note 11)	751,954	735,196
Other assets	34,927	34,455
Total investments and other assets	795,493	781,757
PROPERTY, PLANT AND EQUIPMENT
Plant in service and held for future use	16,282,405	16,218,724
Accumulated depreciation and amortization	(5,667,713)	(5,590,937)
Net	10,614,692	10,627,787
Construction work in progress	1,025,868	812,845
Palo Verde sale leaseback, net of accumulated depreciation (Note 5)	116,418	117,385
Intangible assets, net of accumulated amortization	115,859	123,820
Nuclear fuel, net of accumulated amortization	138,424	123,139
Total property, plant and equipment	12,011,261	11,804,976
DEFERRED DEBITS
Regulatory assets (Note 3)	1,203,474	1,214,146
Assets for other postretirement benefits (Note 4)	187,069	182,625
Other	127,086	127,923
Total deferred debits	1,517,629	1,524,694
TOTAL ASSETS	15,134,297	14,982,182
CURRENT LIABILITIES
Accounts payable	232,484	291,574
Accrued taxes	183,272	144,488
Accrued interest	44,224	56,003
Common dividends payable	0	69,400
Short-term borrowings (Note 2)	261,800	0
Current maturities of long-term debt (Note 2)	357,580	357,580
Customer deposits	78,825	73,073
Liabilities from risk management activities (Note 6)	93,283	77,716
Liabilities for asset retirements	13,083	9,688
Deferred fuel and purchased power regulatory liability (Note 3)	17,217	28,573
Other regulatory liabilities (Note 3)	122,471	136,078
Other current liabilities	172,249	180,535
Total current liabilities	1,576,488	1,424,708
DEFERRED CREDITS AND OTHER
Deferred income taxes	2,767,124	2,764,489
Regulatory liabilities (Note 3)	1,009,418	994,152
Liabilities for asset retirements	429,626	415,003
Liabilities for pension benefits (Note 4)	420,110	459,065
Liabilities from risk management activities (Note 6)	85,603	89,973
Customer advances	110,056	115,609
Coal mine reclamation	202,069	201,984
Deferred investment tax credit	186,966	187,080
Unrecognized tax benefits	35,356	35,251
Other	145,469	142,683
Total deferred credits and other	$ 5,391,797	$ 5,405,289
COMMITMENTS AND CONTINGENCIES (SEE NOTES)
EQUITY
Total common stock	$ 178,162	$ 178,162
Additional paid-in capital	2,379,696	2,379,696
Retained earnings	2,155,746	2,148,493
Accumulated other comprehensive loss:
Pension and other postretirement benefits	(19,331)	(19,942)
Derivative instruments	(6,707)	(7,155)
Total shareholders’ equity	4,687,566	4,679,254
Noncontrolling interests (Note 5)	140,414	135,540
Total equity	4,827,980	4,814,794
Long-term debt less current maturities (Note 2)	3,338,032	3,337,391
Total capitalization	8,166,012	8,152,185
TOTAL LIABILITIES AND EQUITY	$ 15,134,297	$ 14,982,182