CONDENSED CONSOLIDATED STATEMENTS OF INCOME (APSC) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
ELECTRIC OPERATING REVENUES		$ 1,124,057
OPERATING EXPENSES
Fuel and purchased power	302,894	337,896	783,926	793,952
Operations and maintenance	220,729	210,035	647,628	675,654
Depreciation and amortization	100,353	106,350	301,068	319,550
Taxes other than income taxes	36,507	34,223	120,271	112,002
Total	661,505	689,824	1,858,216	1,905,694
OPERATING INCOME	447,970	435,017	750,466	667,793
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction	5,708	7,378	15,639	18,697
Other income (Note S-2)	420	441	1,357	2,630
Other expense (Note S-2)	(5,696)	(3,052)	(12,433)	(7,921)
Total	432	4,767	4,563	13,406
INTEREST EXPENSE
Allowance for borrowed funds used during construction	(3,830)	(6,939)	(10,428)	(14,371)
Total	48,412	55,095	151,781	168,880
NET INCOME	252,863	262,785	382,493	346,950
Less: Net income attributable to noncontrolling interests (Note 7)	8,040	7,426	23,582	20,041
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	244,823	255,359	358,911	326,909
ARIZONA PUBLIC SERVICE COMPANY
ELECTRIC OPERATING REVENUES	1,108,623	1,124,057	2,606,458	2,570,737
OPERATING EXPENSES
Fuel and purchased power	302,894	337,897	783,926	793,952
Operations and maintenance	218,403	207,967	640,596	669,170
Depreciation and amortization	100,329	106,326	300,997	319,477
Income taxes	153,797	145,230	233,679	193,485
Taxes other than income taxes	36,255	33,854	119,499	110,892
Total	811,678	831,274	2,078,697	2,086,976
OPERATING INCOME	296,945	292,783	527,761	483,761
OTHER INCOME (DEDUCTIONS)
Income taxes	3,170	9,422	6,906	9,647
Allowance for equity funds used during construction	5,708	7,377	15,639	18,697
Other income (Note S-2)	815	617	2,343	3,828
Other expense (Note S-2)	(3,352)	(3,045)	(11,969)	(11,288)
Total	6,341	14,371	12,919	20,884
INTEREST EXPENSE
Interest on long-term debt	48,841	56,314	150,416	165,805
Interest on short-term borrowings	1,334	2,846	5,283	7,675
Debt discount, premium and expense	1,070	1,164	3,182	3,485
Allowance for borrowed funds used during construction	(3,830)	(6,938)	(10,428)	(14,371)
Total	47,415	53,386	148,453	162,594
NET INCOME	255,871	253,768	392,227	342,051
Less: Net income attributable to noncontrolling interests (Note 7)	8,040	7,435	23,573	20,089
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 247,831	$ 246,333	$ 368,654	$ 321,962