CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
OPERATING REVENUES	$ 671,219	$ 686,251
OPERATING EXPENSES
Fuel and purchased power	223,237	249,786
Operations and maintenance	214,944	212,882
Depreciation and amortization	120,949	101,772
Taxes other than income taxes	43,216	45,845
Other expenses	1,189	796
Total	603,535	611,081
OPERATING INCOME	67,684	75,170
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction	9,224	7,442
Other income	235	2,367
Other expense	(4,286)	(4,684)
Total	5,173	5,125
INTEREST EXPENSE
Interest charges	48,399	52,969
Allowance for borrowed funds used during construction	(4,216)	(3,770)
Total	44,183	49,199
INCOME BEFORE INCOME TAXES	28,674	31,096
INCOME TAXES	7,947	6,405
NET INCOME	20,727	24,691
Less: Net income attributable to noncontrolling interests (Note 6)	4,605	8,925
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	16,122	15,766
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - BASIC (in shares)	110,916	110,257
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in shares)	111,377	110,888
EARNINGS PER WEIGHTED-AVERAGE COMMON SHARE OUTSTANDING
Net income attributable to common shareholders - basic (in dollars per share)	$ 0.15	$ 0.14
Net income attributable to common shareholders - diluted (in dollars per share)	$ 0.14	$ 0.14
Arizona Public Service Company
ELECTRIC OPERATING REVENUES	670,668	685,545
OPERATING EXPENSES
Fuel and purchased power	223,237	249,786
Operations and maintenance	209,947	208,285
Depreciation and amortization	120,926	101,748
Income taxes	12,239	10,478
Taxes other than income taxes	42,986	45,613
Total	609,335	615,910
OPERATING INCOME	61,333	69,635
OTHER INCOME (DEDUCTIONS)
Income taxes	2,151	1,210
Allowance for equity funds used during construction	9,224	7,442
Other income	639	2,762
Other expense	(5,354)	(5,056)
Total	6,660	6,358
INTEREST EXPENSE
Interest on long-term debt	45,428	48,896
Interest on short-term borrowings	1,174	1,413
Debt discount, premium and expense	1,134	1,011
Allowance for borrowed funds used during construction	(4,216)	(3,770)
Total	43,520	47,550
NET INCOME	24,473	28,443
Less: Net income attributable to noncontrolling interests (Note 6)	4,605	8,925
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 19,868	$ 19,518