CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
OPERATING REVENUES	$ 1,199,146	$ 1,172,667	$ 2,761,013	$ 2,765,182
OPERATING EXPENSES
Fuel and purchased power	363,847	382,361	868,561	923,001
Operations and maintenance	220,449	223,418	646,358	647,522
Depreciation and amortization	125,625	103,660	369,313	310,582
Taxes other than income taxes	43,241	40,850	129,489	130,699
Other expenses	873	603	2,524	2,320
Total	754,035	750,892	2,016,245	2,014,124
OPERATING INCOME	445,111	421,775	744,768	751,058
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction	7,645	7,038	26,214	21,979
Other income (Note 9)	139	2,366	549	7,514
Other expense (Note 9)	(5,538)	(4,193)	(12,433)	(9,385)
Total	2,246	5,211	14,330	20,108
INTEREST EXPENSE
Interest charges	49,342	47,626	146,069	152,346
Allowance for borrowed funds used during construction	(3,518)	(3,479)	(12,056)	(11,039)
Total	45,824	44,147	134,013	141,307
INCOME BEFORE INCOME TAXES	401,533	382,839	625,085	629,859
INCOME TAXES	139,555	134,753	214,873	215,698
NET INCOME	261,978	248,086	410,212	414,161
Less: Net income attributable to noncontrolling interests (Note 6)	4,862	4,125	14,072	21,976
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 257,116	$ 243,961	$ 396,140	$ 392,185
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - BASIC (in shares)	111,036	110,686	110,984	110,579
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in shares)	111,616	111,103	111,490	110,962
EARNINGS PER WEIGHTED-AVERAGE COMMON SHARE OUTSTANDING
Net income attributable to common shareholders - basic (in dollars per share)	$ 2.32	$ 2.20	$ 3.57	$ 3.55
Net income attributable to common shareholders - diluted (in dollars per share)	$ 2.30	$ 2.20	3.55	3.53
DIVIDENDS DECLARED PER SHARE (in dollars per share)			$ 1.19	$ 1.14
Arizona Public Service Company
ELECTRIC OPERATING REVENUES	$ 1,198,380	$ 1,172,190	$ 2,758,771	$ 2,763,315
OPERATING EXPENSES
Fuel and purchased power	363,847	382,362	868,561	923,001
Operations and maintenance	216,011	212,430	633,989	628,774
Depreciation and amortization	125,592	103,638	369,234	310,512
Income taxes	148,543	145,217	232,454	233,067
Taxes other than income taxes	43,149	40,615	129,258	130,002
Total	897,142	884,262	2,233,496	2,225,356
OPERATING INCOME	301,238	287,928	525,275	537,959
OTHER INCOME (DEDUCTIONS)
Income taxes	5,678	4,235	10,809	7,013
Allowance for equity funds used during construction	7,645	7,038	26,214	21,979
Other income (Note 9)	650	2,613	1,999	8,596
Other expense (Note 9)	(3,965)	(3,226)	(11,768)	(9,757)
Total	10,008	10,660	27,254	27,831
INTEREST EXPENSE
Interest on long-term debt	44,011	44,440	134,265	141,799
Interest on short-term borrowings	3,460	1,435	6,339	4,485
Debt discount, premium and expense	1,218	1,020	3,455	3,085
Allowance for borrowed funds used during construction	(3,492)	(3,479)	(12,019)	(11,039)
Total	45,197	43,416	132,040	138,330
NET INCOME	266,049	255,172	420,489	427,460
Less: Net income attributable to noncontrolling interests (Note 6)	4,862	4,125	14,072	21,976
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 261,187	$ 251,047	$ 406,417	$ 405,484