CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
OPERATING REVENUES	$ 915,394	$ 890,648	$ 1,592,561	$ 1,561,867
OPERATING EXPENSES
Fuel and purchased power	274,848	281,477	496,133	504,714
Operations and maintenance	242,279	210,965	485,474	425,909
Depreciation and amortization	123,073	122,739	242,549	243,688
Taxes other than income taxes	42,117	43,032	84,618	86,248
Other expenses	1,329	462	1,877	1,651
Total	683,646	658,675	1,310,651	1,262,210
OPERATING INCOME	231,748	231,973	281,910	299,657
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction	10,369	9,345	20,885	18,569
Other income (Note 8)	197	175	314	410
Other expense (Note 8)	(2,842)	(2,609)	(6,880)	(6,895)
Total	7,724	6,911	14,319	12,084
INTEREST EXPENSE
Interest charges	52,849	48,328	103,593	96,727
Allowance for borrowed funds used during construction	(5,301)	(4,322)	(10,528)	(8,538)
Total	47,548	44,006	93,065	88,189
INCOME BEFORE INCOME TAXES	191,924	194,878	203,164	223,552
INCOME TAXES	65,742	67,371	67,656	75,318
NET INCOME	126,182	127,507	135,508	148,234
Less: Net income attributable to noncontrolling interests (Note 5)	4,874	4,605	9,747	9,210
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 121,308	$ 122,902	$ 125,761	$ 139,024
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - BASIC (in shares)	111,368	110,986	111,336	110,958
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in shares)	112,004	111,460	111,930	111,426
EARNINGS PER WEIGHTED-AVERAGE COMMON SHARE OUTSTANDING
Net income attributable to common shareholders - basic (in dollars per share)	$ 1.09	$ 1.11	$ 1.13	$ 1.25
Net income attributable to common shareholders - diluted (in dollars per share)	1.08	1.10	1.12	1.25
DIVIDENDS DECLARED PER SHARE (in dollars per share)	$ 1.25	$ 1.19	$ 1.25	$ 1.19
APS
ELECTRIC OPERATING REVENUES	$ 909,757	$ 889,723	$ 1,586,389	$ 1,560,391
OPERATING EXPENSES
Fuel and purchased power	274,848	281,477	496,133	504,714
Operations and maintenance	233,712	208,031	472,423	417,978
Depreciation and amortization	123,033	122,716	242,479	243,642
Income taxes	70,444	71,672	76,294	83,911
Taxes other than income taxes	42,036	43,123	84,446	86,109
Total	744,073	727,019	1,371,775	1,336,354
OPERATING INCOME	165,684	162,704	214,614	224,037
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction	10,369	9,345	20,885	18,569
Income taxes	1,721	2,980	3,536	5,131
Other income (Note 8)	5,747	710	6,357	1,349
Other expense (Note 8)	(4,430)	(2,449)	(9,180)	(7,803)
Total	13,407	10,586	21,598	17,246
INTEREST EXPENSE
Interest on long-term debt	48,903	44,826	95,722	90,254
Interest on short-term borrowings	1,930	1,705	4,007	2,879
Debt discount, premium and expense	1,195	1,103	2,334	2,237
Allowance for borrowed funds used during construction	(4,999)	(4,311)	(10,039)	(8,527)
Total	47,029	43,323	92,024	86,843
NET INCOME	132,062	129,967	144,188	154,440
Less: Net income attributable to noncontrolling interests (Note 5)	4,874	4,605	9,747	9,210
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 127,188	$ 125,362	$ 134,441	$ 145,230