CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
OPERATING REVENUES	$ 944,587	$ 915,394	$ 1,622,315	$ 1,592,561
OPERATING EXPENSES
Fuel and purchased power	254,611	274,848	467,006	496,133
Operations and maintenance	214,013	242,279	433,989	485,474
Depreciation and amortization	125,739	123,073	253,366	242,549
Taxes other than income taxes	44,289	42,117	88,125	84,618
Other expenses	1,706	1,329	2,094	1,877
Total	640,358	683,646	1,244,580	1,310,651
OPERATING INCOME	304,229	231,748	377,735	281,910
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction	10,456	10,369	19,938	20,885
Other income (Note 8)	484	197	964	314
Other expense (Note 8)	(3,822)	(2,842)	(7,502)	(6,880)
Total	7,118	7,724	13,400	14,319
INTEREST EXPENSE
Interest charges	54,969	52,849	106,833	103,593
Allowance for borrowed funds used during construction	(4,906)	(5,301)	(9,378)	(10,528)
Total	50,063	47,548	97,455	93,065
INCOME BEFORE INCOME TAXES	261,284	191,924	293,680	203,164
INCOME TAXES	88,967	65,742	93,178	67,656
NET INCOME	172,317	126,182	200,502	135,508
Less: Net income attributable to noncontrolling interests (Note 5)	4,874	4,874	9,747	9,747
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 167,443	$ 121,308	$ 190,755	$ 125,761
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - BASIC (in shares)	111,797	111,368	111,763	111,336
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in shares)	112,345	112,004	112,270	111,930
EARNINGS PER WEIGHTED-AVERAGE COMMON SHARE OUTSTANDING
Net income attributable to common shareholders - basic (in dollars per share)	$ 1.50	$ 1.09	$ 1.71	$ 1.13
Net income attributable to common shareholders - diluted (in dollars per share)	1.49	1.08	1.70	1.12
DIVIDENDS DECLARED PER SHARE (in dollars per share)	$ 1.31	$ 1.25	$ 1.31	$ 1.25
APS
ELECTRIC OPERATING REVENUES	$ 942,615	$ 909,757	$ 1,619,485	$ 1,586,389
OPERATING EXPENSES
Fuel and purchased power	259,892	274,848	476,995	496,133
Operations and maintenance	208,286	233,712	420,505	472,423
Depreciation and amortization	125,317	123,033	252,524	242,479
Income taxes	92,381	70,444	103,754	76,294
Taxes other than income taxes	43,949	42,036	87,447	84,446
Total	729,825	744,073	1,341,225	1,371,775
OPERATING INCOME	212,790	165,684	278,260	214,614
OTHER INCOME (DEDUCTIONS)
Income taxes	3,856	1,721	6,579	3,536
Allowance for equity funds used during construction	10,456	10,369	19,938	20,885
Other income (Note 8)	1,142	5,747	2,204	6,357
Other expense (Note 8)	(5,651)	(4,430)	(10,029)	(9,180)
Total	9,803	13,407	18,692	21,598
INTEREST EXPENSE
Interest on long-term debt	49,989	48,903	97,480	95,722
Interest on short-term borrowings	2,331	1,930	4,459	4,007
Debt discount, premium and expense	1,197	1,195	2,374	2,334
Allowance for borrowed funds used during construction	(4,906)	(4,999)	(9,378)	(10,039)
Total	48,611	47,029	94,935	92,024
NET INCOME	173,982	132,062	202,017	144,188
Less: Net income attributable to noncontrolling interests (Note 5)	4,874	4,874	9,747	9,747
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 169,108	$ 127,188	$ 192,270	$ 134,441