Changes in Accumulated Other Comprehensive Loss (APSC)

6 Months Ended

Jun. 30, 2014

Changes in Accumulated Other Comprehensive Loss

15. Changes in Accumulated Other Comprehensive Loss

The following table shows the changes in accumulated other comprehensive loss, including reclassification adjustments, net of tax, by component for the three and six months ended June 30, 2014 and 2013 (dollars in thousands):

	Three Months Ended June 30, 2014									Three Months Ended June 30, 2013
	Derivative Instruments			Pension and Other Postretirement Benefits			Total			Derivative Instruments			Pension and Other Postretirement Benefits			Total
Beginning balance, April 1	$	(20,364	)	$	(54,538	)	$	(74,902	)	$	(44,481	)	$	(63,450	)	$	(107,931	)
OCI (loss) before reclassifications	40			(2,072		)	(2,032		)	(160		)	(1,635		)	(1,795		)
Amounts reclassified from accumulated other comprehensive loss	1,955		(a)	762		(b)	2,717			4,322		(a)	947		(b)	5,269
Net current period OCI (loss)	1,995			(1,310		)	685			4,162			(688		)	3,474
Ending balance, June 30	$	(18,369	)	$	(55,848	)	$	(74,217	)	$	(40,319	)	$	(64,138	)	$	(104,457	)

(a) These amounts represent realized gains and losses, are included in the computation of fuel and purchased power costs and are subject to the PSA.  See Note 7.

(b) These amounts primarily represent amortization of actuarial loss, and are included in the computation of net periodic pension cost.  See Note 4.

	Six Months Ended June 30, 2014									Six Months Ended June 30, 2013
	Derivative Instruments			Pension and Other Postretirement Benefits			Total			Derivative Instruments			Pension and Other Postretirement Benefits			Total
Beginning balance, January 1	$	(23,058	)	$	(54,995	)	$	(78,053	)	$	(49,592	)	$	(64,416	)	$	(114,008	)
OCI (loss) before reclassifications	(381		)	(2,072		)	(2,453		)	(102		)	(1,635		)	(1,737		)
Amounts reclassified from accumulated other comprehensive loss	5,070		(a)	1,219		(b)	6,289			9,375		(a)	1,913		(b)	11,288
Net current period OCI (loss)	4,689			(853		)	3,836			9,273			278			9,551
Ending balance, June 30	$	(18,369	)	$	(55,848	)	$	(74,217	)	$	(40,319	)	$	(64,138	)	$	(104,457	)

(a) These amounts represent realized gains and losses, are included in the computation of fuel and purchased power costs and are subject to the PSA.  See Note 7.

(b) These amounts primarily represent amortization of actuarial loss, and are included in the computation of net periodic pension cost.  See Note 4.

ARIZONA PUBLIC SERVICE COMPANY

Changes in Accumulated Other Comprehensive Loss

S-3.         Changes in Accumulated Other Comprehensive Loss

The following table shows the changes in accumulated other comprehensive loss, including reclassification adjustments, net of tax, by component for the three and six months ended June 30, 2014 and 2013 (dollars in thousands):

	Three Months Ended June 30, 2014									Three Months Ended June 30, 2013
	Derivative Instruments			Pension and Other Postretirement Benefits			Total			Derivative Instruments			Pension and Other Postretirement Benefits			Total
Beginning balance, April 1	$	(20,364	)	$	(29,747	)	$	(50,111	)	$	(44,482	)	$	(38,621	)	$	(83,103	)
OCI (loss) before reclassifications	40			(2,041		)	(2,001		)	(160		)	(1,630		)	(1,790		)
Amounts reclassified from accumulated other comprehensive loss	1,954		(a)	758		(b)	2,712			4,322		(a)	1,019		(b)	5,341
Net current period OCI (loss)	1,994			(1,283		)	711			4,162			(611		)	3,551
Ending balance, June 30	$	(18,370	)	$	(31,030	)	$	(49,400	)	$	(40,320	)	$	(39,232	)	$	(79,552	)

(a) These amounts represent realized gains and losses, are included in the computation of fuel and purchased power costs and are subject to the PSA.  See Note 7.

(b) These amounts primarily represent amortization of actuarial loss and are included in the computation of net periodic pension cost.  See Note 4.

	Six Months Ended June 30, 2014									Six Months Ended June 30, 2013
	Derivative Instruments			Pension and Other Postretirement Benefits			Total			Derivative Instruments			Pension and Other Postretirement Benefits			Total
Beginning balance, January 1	$	(23,059	)	$	(30,313	)	$	(53,372	)	$	(49,592	)	$	(39,503	)	$	(89,095	)
OCI (loss) before reclassifications	(381		)	(2,041		)	(2,422		)	(102		)	(1,630		)	(1,732		)
Amounts reclassified from accumulated other comprehensive loss	5,070		(a)	1,324		(b)	6,394			9,374		(a)	1,901		(b)	11,275
Net current period OCI (loss)	4,689			(717		)	3,972			9,272			271			9,543
Ending balance, June 30	$	(18,370	)	$	(31,030	)	$	(49,400	)	$	(40,320	)	$	(39,232	)	$	(79,552	)

(a) These amounts represent realized gains and losses and are included in the computation of fuel and purchased power costs and are subject to the PSA.  See Note 7.

(b) These amounts primarily represent amortization of actuarial loss, and are included in the computation of net periodic pension cost.  See Note 4.