Long-Term Debt and Liquidity Matters (Tables)

9 Months Ended

Sep. 30, 2013

Long-Term Debt and Liquidity Matters

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

The following table represents the estimated fair value of our long-term debt, including current maturities (dollars in millions):

	As of September 30, 2013				As of December 31, 2012
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Pinnacle West	$	125	$	125	$	125	$	125
APS	3,262		3,538		3,197		3,750
Total	$	3,387	$	3,663	$	3,322	$	3,875