CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
NET INCOME	$ 200,502	$ 135,508
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization including nuclear fuel	291,285	282,291
Deferred fuel and purchased power	(21,993)	(21,026)
Deferred fuel and purchased power amortization	(13,663)	13,778
Allowance for equity funds used during construction	(19,938)	(20,885)
Deferred income taxes	94,365	65,881
Deferred investment tax credit	(3,194)	(2,083)
Change in derivative instruments fair value	(222)	(237)
Stock compensation	12,891	25,048
Changes in current assets and liabilities:
Customer and other receivables	(62,624)	(19,898)
Accrued unbilled revenues	(105,754)	(101,331)
Materials, supplies and fossil fuel	(5,437)	1,551
Income tax receivable	(322)	589
Other current assets	(23,418)	(5,649)
Accounts payable	21,771	47,621
Accrued taxes	11,745	6,567
Other current liabilities	(44,778)	53,912
Change in margin and collateral accounts — assets	(71)	(34)
Change in margin and collateral accounts — liabilities	(4,700)	18,010
Change in other long-term assets	(49,162)	(41,101)
Change in other long-term liabilities	13,279	(16,037)
Net cash flow provided by operating activities	290,562	422,475
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(693,626)	(731,609)
Contributions in aid of construction	18,032	29,127
Allowance for borrowed funds used during construction	(9,378)	(10,528)
Proceeds from nuclear decommissioning trust sales	275,364	290,594
Investment in nuclear decommissioning trust	(276,505)	(291,734)
Other	(2,127)	(1,307)
Net cash flow used for investing activities	(688,240)	(715,457)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of long-term debt	251,635	445,933
Repayment of long-term debt	0	(76,850)
Short-term borrowing and payments — net	287,800	64,140
Short-term debt borrowings under revolving credit facility	17,000	0
Dividends paid on common stock	(142,520)	(135,335)
Common stock equity issuance - net of purchases	(8,792)	10,017
Distributions to noncontrolling interests	(11,372)	(11,372)
Other	(1)	1
Net cash flow provided by financing activities	393,750	296,534
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(3,928)	3,552
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	8,881	39,488
CASH AND CASH EQUIVALENTS AT END OF PERIOD	4,953	43,040
Cash paid during the period for:
Income taxes, net of refunds	2,062	2,503
Interest, net of amounts capitalized	94,870	89,109
Significant non-cash investing and financing activities:
Accrued capital expenditures	80,517	55,286
Dividends declared but not yet paid	73,113	69,484
Arizona Public Service Company
CASH FLOWS FROM OPERATING ACTIVITIES
NET INCOME	202,017	144,188
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization including nuclear fuel	290,444	282,221
Deferred fuel and purchased power	(21,994)	(21,026)
Deferred fuel and purchased power amortization	(13,663)	13,778
Allowance for equity funds used during construction	(19,938)	(20,885)
Deferred income taxes	87,412	60,131
Deferred investment tax credit	(3,194)	(2,083)
Change in derivative instruments fair value	(222)	(237)
Changes in current assets and liabilities:
Customer and other receivables	(41,422)	(19,809)
Accrued unbilled revenues	(105,754)	(101,331)
Materials, supplies and fossil fuel	(5,333)	1,551
Income tax receivable	11,174	0
Other current assets	(20,039)	(3,749)
Accounts payable	20,147	48,593
Accrued taxes	16,759	17,141
Other current liabilities	(33,408)	44,711
Change in margin and collateral accounts — assets	(71)	(34)
Change in margin and collateral accounts — liabilities	(4,700)	18,010
Change in other long-term assets	(45,420)	(38,780)
Change in other long-term liabilities	13,061	3,979
Net cash flow provided by operating activities	325,856	426,369
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(680,343)	(717,729)
Contributions in aid of construction	18,032	29,127
Allowance for borrowed funds used during construction	(9,378)	(10,039)
Proceeds from nuclear decommissioning trust sales	275,364	290,594
Investment in nuclear decommissioning trust	(276,505)	(291,734)
Other	(1,478)	(388)
Net cash flow used for investing activities	(674,308)	(700,169)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of long-term debt	251,635	445,933
Repayment of long-term debt	0	(76,850)
Short-term borrowing and payments — net	250,200	64,140
Dividends paid on common stock	(146,000)	(138,900)
Distributions to noncontrolling interests	(11,372)	(11,372)
Net cash flow provided by financing activities	344,463	282,951
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(3,989)	9,151
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	8,840	22,056
CASH AND CASH EQUIVALENTS AT END OF PERIOD	4,851	31,207
Cash paid during the period for:
Income taxes, net of refunds	1	8,772
Interest, net of amounts capitalized	92,334	88,066
Significant non-cash investing and financing activities:
Accrued capital expenditures	82,621	55,286
Dividends declared but not yet paid	$ 73,100	$ 69,500