Long-Term Debt and Liquidity Matters (Tables)

3 Months Ended

Mar. 31, 2012

Long-Term Debt and Liquidity Matters

Schedule of estimated fair value of long-term debt, including current maturities

	As of March 31, 2012				As of December 31, 2011
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Pinnacle West	$	125	$	123	$	125	$	123
APS	3,318		3,748		3,371		3,803
Total	$	3,443	$	3,871	$	3,496	$	3,926