The following table shows the changes in Pinnacle West’s consolidated accumulated other comprehensive loss, including reclassification adjustments, net of tax, by component (dollars in thousands):


	Pension and Other Postretirement Benefits			Derivative Instruments		Total
Three Months Ended March 31
Balance December 31, 2024	$	(31,661)		$	719	$	(30,942)
Other comprehensive income before reclassifications	—			350		350
Amounts reclassified from accumulated other comprehensive loss	498		(a)	—		498
Balance March 31, 2025	$	(31,163)		$	1,069	$	(30,094)

Balance December 31, 2023	$	(34,754)		$	1,610	$	(33,144)
Other comprehensive (loss) before reclassifications	—			—		—
Amounts reclassified from accumulated other comprehensive loss	562		(a)	—		562
Balance March 31, 2024	$	(34,192)		$	1,610	$	(32,582)

(a) These amounts primarily represent amortization of actuarial loss and are included in the computation of net periodic pension cost. See Note 7

The following table shows the changes in APS’s accumulated other comprehensive loss, including reclassification adjustments, net of tax, by component (dollars in thousands):


	Pension and Other Postretirement Benefits
Three Months Ended March 31
Balance December 31, 2024	$	(14,116)
Other comprehensive (loss) before reclassifications	—
Amounts reclassified from accumulated other comprehensive loss	406		(a)
Balance March 31, 2025	$	(13,710)

Balance December 31, 2023	$	(17,219)
Other comprehensive (loss) before reclassifications	—
Amounts reclassified from accumulated other comprehensive loss	490		(a)
Balance March 31, 2024	$	(16,729)

(a) These amounts primarily represent amortization of actuarial loss and are included in the computation of net periodic pension cost. See Note 7.