| 3 Months Ended March | ||||||||||||||
| Line | 2011 | 2010 | Incr (Decr) | |||||||||||
EARNINGS CONTRIBUTION BY SUBSIDIARY ($ Millions) | ||||||||||||||
| 1 | Arizona Public Service | $ | (7 | ) | $ | 16 | $ | (23 | ) | |||||
| 2 | APS Energy Services | 1 | — | 1 | ||||||||||
| 3 | SunCor | — | — | — | ||||||||||
| 4 | El Dorado | — | — | — | ||||||||||
| 5 | Parent Company | (3 | ) | (4 | ) | 1 | ||||||||
| 6 | Income From Continuing Operations | (9 | ) | 12 | (21 | ) | ||||||||
| Income (Loss) From Discontinued Operations — Net of Tax | ||||||||||||||
| 7 | SunCor | (1 | ) | (21 | ) | 20 | ||||||||
| 8 | Other | — | 8 | (8 | ) | |||||||||
| 9 | Total | (1 | ) | (13 | ) | 12 | ||||||||
| 10 | Net Income | (10 | ) | (1 | ) | (9 | ) | |||||||
| 11 | Less: Net Income (Loss) Attributable to Noncontrolling Interests | 5 | 5 | — | ||||||||||
| 12 | Net Income Attributable to Common Shareholders | $ | (15 | ) | $ | (6 | ) | $ | (9 | ) | ||||
EARNINGS PER SHARE BY SUBSIDIARY — DILUTED | ||||||||||||||
| 13 | Arizona Public Service | $ | (0.06 | ) | $ | 0.16 | $ | (0.22 | ) | |||||
| 14 | APS Energy Services | — | — | — | ||||||||||
| 15 | SunCor | — | — | — | ||||||||||
| 16 | El Dorado | — | — | — | ||||||||||
| 17 | Parent Company | (0.03 | ) | (0.04 | ) | 0.01 | ||||||||
| 18 | Income From Continuing Operations | (0.09 | ) | 0.12 | (0.21 | ) | ||||||||
| Income (Loss) From Discontinued Operations — Net of Tax | ||||||||||||||
| 19 | SunCor | — | (0.21 | ) | 0.21 | |||||||||
| 20 | Other | — | 0.08 | (0.08 | ) | |||||||||
| 21 | Total | — | (0.13 | ) | 0.13 | |||||||||
| 22 | Net Income | (0.09 | ) | (0.01 | ) | (0.08 | ) | |||||||
| 23 | Less: Net Income (Loss) Attributable to Noncontrolling Interests | 0.05 | 0.05 | — | ||||||||||
| 24 | Net Income Attributable to Common Shareholders | $ | (0.14 | ) | $ | (0.06 | ) | $ | (0.08 | ) | ||||
| 25 | BOOK VALUE PER SHARE | $ | 33.31 | $ | 31.65 | $ | 1.66 | |||||||
COMMON SHARES OUTSTANDING (Thousands) | ||||||||||||||
| 26 | Average — Diluted | 108,832 | 101,474 | 7,358 | ||||||||||
| 27 | End of Period | 109,011 | 101,534 | 7,477 | ||||||||||
| See Glossary of Terms. | Page 1 of 4 |
| 3 Months Ended March | ||||||||||||||
| Line | 2011 | 2010 | Incr (Decr) | |||||||||||
ELECTRIC OPERATING REVENUES (Dollars in Millions) | ||||||||||||||
REGULATED ELECTRICITY SEGMENT | ||||||||||||||
Retail | ||||||||||||||
| 28 | Residential | $ | 273 | $ | 267 | $ | 6 | |||||||
| 29 | Business | 298 | 289 | 9 | ||||||||||
| 30 | Total retail | 571 | 556 | 15 | ||||||||||
Wholesale revenue on delivered electricity | ||||||||||||||
| 31 | Traditional contracts | 11 | 18 | (7 | ) | |||||||||
| 32 | Off-system sales | 18 | 16 | 2 | ||||||||||
| 33 | Transmission for others | 8 | 8 | (0 | ) | |||||||||
| 34 | Other miscellaneous services | 40 | 13 | 27 | ||||||||||
| 35 | Total regulated operating electricity revenues | 647 | 611 | 36 | ||||||||||
MARKETING AND TRADING | ||||||||||||||
| 36 | Electricity and other commodity sales | — | — | — | ||||||||||
| 37 | Total operating electric revenues | $ | 647 | $ | 611 | $ | 36 | |||||||
ELECTRIC SALES (GWH) | ||||||||||||||
REGULATED ELECTRICITY SEGMENT | ||||||||||||||
Retail sales | ||||||||||||||
| 38 | Residential | 2,652 | 2,575 | 77 | ||||||||||
| 39 | Business | 3,274 | 3,167 | 107 | ||||||||||
| 40 | Total retail | 5,926 | 5,742 | 185 | ||||||||||
Wholesale electricity delivered | ||||||||||||||
| 41 | Traditional contracts | 143 | 156 | (13 | ) | |||||||||
| 42 | Off-system sales | 647 | 609 | 38 | ||||||||||
| 43 | Retail load hedge management | 31 | 201 | (170 | ) | |||||||||
| 44 | Total regulated electricity | 6,747 | 6,707 | 39 | ||||||||||
MARKETING AND TRADING | ||||||||||||||
| 45 | Wholesale sales of electricity | — | — | — | ||||||||||
| 46 | Total electric sales | 6,747 | 6,707 | 39 | ||||||||||
POWER SUPPLY ADJUSTOR (“PSA”) — REGULATED ELECTRICITY SEGMENT (Dollars in Millions) | ||||||||||||||
| 47 | Deferred fuel and purchased power regulatory asset/(liability) — beginning balance | $ | (58 | ) | $ | (87 | ) | $ | 29 | |||||
| 48 | Deferred fuel and purchased power costs — current period | (50 | ) | (44 | ) | (6 | ) | |||||||
| 49 | Interest on deferred fuel | — | — | — | ||||||||||
| 50 | Amounts refunded/(recovered) through revenues | 31 | 26 | 5 | ||||||||||
| 51 | Deferred fuel and purchased power regulatory asset/(liability) — ending balance | $ | (77 | ) | $ | (105 | ) | $ | 28 | |||||
| See Glossary of Terms. | Page 2 of 4 |
| 3 Months Ended March | ||||||||||||||
| Line | 2011 | 2010 | Incr (Decr) | |||||||||||
AVERAGE ELECTRIC CUSTOMERS | ||||||||||||||
Retail customers | ||||||||||||||
| 52 | Residential | 999,692 | 995,053 | 4,639 | ||||||||||
| 53 | Business | 125,591 | 125,397 | 194 | ||||||||||
| 54 | Total | 1,125,283 | 1,120,450 | 4,833 | ||||||||||
| 55 | Wholesale customers | 47 | 51 | (4 | ) | |||||||||
| 56 | Total customers | 1,125,330 | 1,120,501 | 4,829 | ||||||||||
| 57 | Customer growth (% over prior year) | 0.4 | % | 0.6 | % | (0.2 | )% | |||||||
RETAIL SALES (GWH) — WEATHER NORMALIZED | ||||||||||||||
| 58 | Residential | 2,612 | 2,598 | 14 | ||||||||||
| 59 | Business | 3,264 | 3,205 | 58 | ||||||||||
| 60 | Total | 5,876 | 5,804 | 72 | ||||||||||
RETAIL USAGE (KWh/Average Customer) | ||||||||||||||
| 61 | Residential | 2,653 | 2,588 | 65 | ||||||||||
| 62 | Business | 26,071 | 25,255 | 816 | ||||||||||
RETAIL USAGE — WEATHER NORMALIZED (KWh/Average Customer) | ||||||||||||||
| 63 | Residential | 2,613 | 2,611 | 2 | ||||||||||
| 64 | Business | 25,987 | 25,563 | 424 | ||||||||||
ELECTRICITY DEMAND (MW) | ||||||||||||||
| 65 | Native load peak demand | 4,814 | 3,925 | 888 | ||||||||||
WEATHER INDICATORS — RESIDENTIAL | ||||||||||||||
Actual | ||||||||||||||
| 66 | Cooling degree-days | — | — | — | ||||||||||
| 67 | Heating degree-days | 587 | 501 | 86 | ||||||||||
| 68 | Average humidity | — | — | — | ||||||||||
10-Year Averages | ||||||||||||||
| 69 | Cooling degree-days | — | — | — | ||||||||||
| 70 | Heating degree-days | 500 | 500 | — | ||||||||||
| 71 | Average humidity | — | — | — | ||||||||||
| See Glossary of Terms. | Page 3 of 4 |
| 3 Months Ended March | ||||||||||||||
| Line | 2011 | 2010 | Incr (Decr) | |||||||||||
ENERGY SOURCES (GWH) | ||||||||||||||
Generation production | ||||||||||||||
| 72 | Nuclear | 2,448 | 2,365 | 84 | ||||||||||
| 73 | Coal | 2,950 | 3,007 | (58 | ) | |||||||||
| 74 | Gas, oil and other | 839 | 816 | 23 | ||||||||||
| 75 | Total generation production | 6,237 | 6,188 | 49 | ||||||||||
Purchased power | ||||||||||||||
| 76 | Firm load | 593 | 471 | 122 | ||||||||||
| 77 | Marketing and trading | 283 | 421 | (138 | ) | |||||||||
| 78 | Total purchased power | 876 | 892 | (16 | ) | |||||||||
| 79 | Total energy sources | 7,113 | 7,080 | 33 | ||||||||||
POWER PLANT PERFORMANCE | ||||||||||||||
Capacity Factors | ||||||||||||||
| 80 | Nuclear | 99 | % | 96 | % | 3 | % | |||||||
| 81 | Coal | 78 | % | 80 | % | (2 | )% | |||||||
| 82 | Gas, oil and other | 12 | % | 11 | % | 1 | % | |||||||
| 83 | System average | 47 | % | 46 | % | 1 | % | |||||||
ECONOMIC INDICATORS | ||||||||||||||
Building Permits — Metro Phoenix (a) | ||||||||||||||
| 84 | Single-family | 737 | 1,150 | (413 | ) | |||||||||
| 85 | Multi-family | 62 | 253 | (191 | ) | |||||||||
| 86 | Total | 799 | 1,403 | (604 | ) | |||||||||
Arizona Job Growth (b) | ||||||||||||||
| 87 | Payroll job growth (% over prior year) | (0.1 | )% | (4.4 | )% | 4.3 | % | |||||||
| 88 | Unemployment rate (%, seasonally adjusted) | 9.6 | % | 10.2 | % | (0.6 | )% | |||||||
| (a) | Arizona Real Estate Center, Arizona State University W.P. Carey College of Business | |
| (b) | Arizona Department of Economic Security |
| See Glossary of Terms. | Page 4 of 4 |
