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


	Pension and Other Postretirement Benefits			Derivative Instruments		Total
Three Months Ended June 30
Balance March 31, 2026	$	(32,478)		$	529	$	(31,949)
Other comprehensive income before reclassifications	404			18		422
Amounts reclassified from accumulated other comprehensive loss	493		(a)	—		493
Balance June 30, 2026	$	(31,581)		$	547	$	(31,034)

Balance March 31, 2025	$	(31,163)		$	1,069	$	(30,094)
Other comprehensive loss before reclassifications	(503)			(294)		(797)
Amounts reclassified from accumulated other comprehensive loss	450		(a)	—		450
Balance June 30, 2025	$	(31,216)		$	775	$	(30,441)

(a) These amounts primarily represent amortization of actuarial loss and are included in the computation of net periodic pension cost. See Note 8.


	Pension and Other Postretirement Benefits			Derivative Instruments		Total
Six Months Ended June 30
Balance December 31, 2025	$	(32,980)		$	572	$	(32,408)
Other comprehensive income/(loss) before reclassifications	404			(25)		379
Amounts reclassified from accumulated other comprehensive loss	995		(a)	—		995
Balance June 30, 2026	$	(31,581)		$	547	$	(31,034)

Balance December 31, 2024	$	(31,661)		$	719	$	(30,942)
Other comprehensive income/(loss) before reclassifications	(503)			56		(447)
Amounts reclassified from accumulated other comprehensive loss	948		(a)	—		948
Balance June 30, 2025	$	(31,216)		$	775	$	(30,441)

(a) These amounts primarily represent amortization of actuarial loss and are included in the computation of net periodic pension cost. See Note 8.

The following tables show 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 June 30
Balance March 31, 2026	$	(15,047)
Other comprehensive income before reclassifications	454
Amounts reclassified from accumulated other comprehensive loss	406		(a)
Balance June 30, 2026	$	(14,187)

Balance March 31, 2025	$	(13,710)
Other comprehensive loss before reclassifications	(504)
Amounts reclassified from accumulated other comprehensive loss	368		(a)
Balance June 30, 2025	$	(13,846)

(a) These amounts primarily represent amortization of actuarial loss and are included in the computation of net periodic pension cost. See Note 8.


	Pension and Other Postretirement Benefits
Six Months Ended June 30
Balance December 31, 2025	$	(15,457)
Other comprehensive income before reclassifications	454
Amounts reclassified from accumulated other comprehensive loss	816		(a)
Balance June 30, 2026	$	(14,187)

Balance December 31, 2024	$	(14,116)
Other comprehensive loss before reclassifications	(504)
Amounts reclassified from accumulated other comprehensive loss	774		(a)
Balance June 30, 2025	$	(13,846)

(a) These amounts primarily represent amortization of actuarial loss and are included in the computation of net periodic pension cost. See Note 8.