CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
CURRENT ASSETS
Cash and cash equivalents	$ 7,604	$ 9,526
Customer and other receivables	297,740	299,904
Accrued unbilled revenues	100,533	96,796
Allowance for doubtful accounts	(3,094)	(3,203)
Materials and supplies (at average cost)	218,889	221,682
Fossil fuel (at average cost)	37,097	38,028
Income tax receivable (Note 4)	3,098	135,517
Assets from risk management activities (Note 16)	13,785	17,169
Deferred fuel and purchased power regulatory asset (Note 3)	6,926	20,755
Other regulatory assets (Note 3)	129,808	76,388
Deferred income taxes (Notes 4 and S-1)	122,232	91,152
Other current assets	38,817	39,895
Total current assets	973,435	1,043,609
INVESTMENTS AND OTHER ASSETS
Assets from risk management activities (Note 16)	17,620	23,815
Nuclear decommissioning trust (Notes 13 and 19)	713,866	642,007
Other assets	54,047	60,875
Total investments and other assets	785,533	726,697
PROPERTY, PLANT AND EQUIPMENT (Notes 1, 6 and 9)
Plant in service and held for future use	15,543,063	15,200,464
Accumulated depreciation and amortization	(5,397,751)	(5,300,219)
Net	10,145,312	9,900,245
Construction work in progress	682,807	581,369
Palo Verde sale leaseback, net of accumulated depreciation of $229,795 and $225,925 (Note 18)	121,255	125,125
Intangible assets, net of accumulated amortization of $489,538 and $439,703	119,755	157,689
Nuclear fuel, net of accumulated amortization of $143,554 and $146,057	125,201	124,557
Total property, plant and equipment	11,194,330	10,888,985
DEFERRED DEBITS
Regulatory assets (Notes 1, 3 and 4)	1,054,087	711,712
Assets for other postretirement benefits (Note 7)	152,290	0
Other	153,857	137,683
Total deferred debits	1,360,234	849,395
Total Assets	14,313,532	13,508,686
CURRENT LIABILITIES
Accounts payable	295,211	284,516
Accrued taxes (Note 4)	140,613	130,998
Accrued interest	52,603	48,351
Common dividends payable	65,790	62,528
Short-term borrowings (Note 5)	147,400	153,125
Current maturities of long-term debt (Note 6)	383,570	540,424
Customer deposits	72,307	76,101
Liabilities from risk management activities (Note 16)	59,676	31,892
Liability for asset retirements (Note 11)	32,462	32,896
Regulatory liabilities (Note 3)	130,549	99,273
Other current liabilities	178,962	158,540
Total current liabilities	1,559,143	1,618,644
LONG-TERM DEBT LESS CURRENT MATURITIES (Note 6)	3,031,215	2,796,465
DEFERRED CREDITS AND OTHER
Deferred income taxes	2,582,636	2,351,882
Regulatory liabilities (Notes 1, 3, 4 and 7)	1,051,196	801,297
Liability for asset retirements (Note 11)	358,288	313,833
Liabilities for pension and other postretirement benefits (Note 7)	453,736	513,628
Liabilities from risk management activities (Note 16)	50,602	70,315
Customer advances	123,052	114,480
Coal mine reclamation	198,292	207,453
Deferred investment tax credit	178,607	152,361
Unrecognized tax benefits (Note 4)	19,377	42,209
Other	188,286	185,659
Total deferred credits and other	5,204,072	4,753,117
COMMITMENTS AND CONTINGENCIES (SEE NOTES)
EQUITY
Common stock, no par value; authorized 150,000,000 shares, issued 110,649,762 at end of 2014 and 110,280,703 at end of 2013	2,512,970	2,491,558
Treasury stock at cost; 78,400 shares at end of 2014 and 98,944 shares at end of 2013	(3,401)	(4,308)
Total common stock	2,509,569	2,487,250
Retained earnings	1,926,065	1,785,273
Accumulated other comprehensive loss:
Pension and other postretirement benefits (Note 7)	(57,756)	(54,995)
Derivative instruments (Note 16)	(10,385)	(23,058)
Total accumulated other comprehensive loss	(68,141)	(78,053)
Total shareholders’ equity	4,367,493	4,194,470
Noncontrolling interests (Note 18)	151,609	145,990
Total equity	4,519,102	4,340,460
Total Liabilities and Equity	14,313,532	13,508,686
ARIZONA PUBLIC SERVICE COMPANY
CURRENT ASSETS
Cash and cash equivalents	4,515	3,725
Customer and other receivables	297,712	299,055
Accrued unbilled revenues	100,533	96,796
Allowance for doubtful accounts	(3,094)	(3,203)
Materials and supplies (at average cost)	218,889	221,682
Fossil fuel (at average cost)	37,097	38,028
Income tax receivable (Note 4)	0	135,179
Assets from risk management activities (Note 16)	13,785	17,169
Deferred fuel and purchased power regulatory asset (Note 3)	6,926	20,755
Other regulatory assets (Note 3)	129,808	76,388
Deferred income taxes (Notes 4 and S-1)	55,253	0
Other current assets	38,693	39,153
Total current assets	900,117	944,727
INVESTMENTS AND OTHER ASSETS
Assets from risk management activities (Note 16)	17,620	23,815
Nuclear decommissioning trust (Notes 13 and 19)	713,866	642,007
Other assets	33,362	33,709
Total investments and other assets	764,848	699,531
PROPERTY, PLANT AND EQUIPMENT (Notes 1, 6 and 9)
Plant in service and held for future use	15,539,811	15,196,598
Accumulated depreciation and amortization	(5,394,650)	(5,296,501)
Net	10,145,161	9,900,097
Construction work in progress	682,807	581,369
Palo Verde sale leaseback, net of accumulated depreciation of $229,795 and $225,925 (Note 18)	121,255	125,125
Intangible assets, net of accumulated amortization of $489,538 and $439,703	119,600	157,534
Nuclear fuel, net of accumulated amortization of $143,554 and $146,057	125,201	124,557
Total property, plant and equipment	11,194,024	10,888,682
DEFERRED DEBITS
Regulatory assets (Notes 1, 3 and 4)	1,054,087	711,712
Assets for other postretirement benefits (Note 7)	149,260	0
Unamortized debt issue costs	24,642	21,860
Other	128,026	114,865
Total deferred debits	1,356,015	848,437
Total Assets	14,215,004	13,381,377
CURRENT LIABILITIES
Accounts payable	289,930	281,237
Accrued taxes (Note 4)	131,110	122,460
Accrued interest	52,358	48,132
Common dividends payable	65,800	62,500
Short-term borrowings (Note 5)	147,400	153,125
Current maturities of long-term debt (Note 6)	383,570	540,424
Customer deposits	72,307	76,101
Deferred income taxes	0	2,033
Liabilities from risk management activities (Note 16)	59,676	31,892
Liability for asset retirements (Note 11)	32,462	32,896
Regulatory liabilities (Note 3)	130,549	99,273
Other current liabilities	167,302	130,774
Total current liabilities	1,532,464	1,580,847
DEFERRED CREDITS AND OTHER
Deferred income taxes	2,571,365	2,347,724
Regulatory liabilities (Notes 1, 3, 4 and 7)	1,051,196	801,297
Liability for asset retirements (Note 11)	358,288	313,833
Liabilities for pension and other postretirement benefits (Note 7)	424,508	476,017
Liabilities from risk management activities (Note 16)	50,602	70,315
Customer advances	123,052	114,480
Coal mine reclamation	198,292	207,453
Deferred investment tax credit	178,607	152,361
Unrecognized tax benefits (Note 4)	45,740	42,209
Other	144,823	148,502
Total deferred credits and other	5,146,473	4,674,191
EQUITY
Total common stock	178,162	178,162
Additional paid-in capital	2,379,696	2,379,696
Retained earnings	1,968,718	1,804,398
Accumulated other comprehensive loss:
Pension and other postretirement benefits (Note 7)	(37,948)	(30,313)
Derivative instruments (Note 16)	(10,385)	(23,059)
Total accumulated other comprehensive loss	(48,333)	(53,372)
Total shareholders’ equity	4,478,243	4,308,884
Noncontrolling interests (Note 18)	151,609	145,990
Total equity	4,629,852	4,454,874
Long-term debt less current maturities (Note 6)	2,906,215	2,671,465
Total capitalization	7,536,067	7,126,339
Total Liabilities and Equity	$ 14,215,004	$ 13,381,377