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Long-Term Debt and Liquidity Matters (Tables) | 12 Months Ended
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Dec. 31, 2016
Debt Disclosure [Abstract] |
Components of long-term debt on the Consolidated Balance Sheets | The following table presents the components of long-term debt on the Consolidated Balance Sheets outstanding at December 31, 2016 and 2015 (dollars in thousands):
| Maturity |  | Interest |  | December 31,
| Dates (a) |  | Rates |  | 2016 |  | 2015
APS |  |  |  |  |  |  |  |  |
Pollution control bonds: |  |  |  |  |  |  |  |  |
Variable | 2029 |  | (b) |  | $ | 35,975 |  |  | $ | 92,405 |
Fixed | 2024-2029 |  | 1.75%-4.70% |  | 147,150 |  |  | 211,150 |
Total pollution control bonds |  |  |  |  | 183,125 |  |  | 303,555 |
Senior unsecured notes | 2019-2046 |  | 2.20%-8.75% |  | 3,725,000 |  |  | 3,375,000 |
Term loans | 2018-2019 |  | (c) |  | 150,000 |  |  | 50,000 |
Unamortized discount |  |  |  |  | (11,816 | ) |  | (10,374 | )
Unamortized premium |  |  |  |  | 4,506 |  |  | 4,686 |
Unamortized debt issuance cost |  |  |  |  | (29,030 | ) |  | (27,896 | )
Total APS long-term debt |  |  |  |  | 4,021,785 |  |  | 3,694,971 |
Less current maturities |  |  |  |  | — |  |  | 357,580 |
Total APS long-term debt less current maturities |  |  |  |  | 4,021,785 |  |  | 3,337,391 |
Pinnacle West |  |  |  |  |  |  |  |  |
Term loan | 2017 |  | (d) |  | 125,000 |  |  | 125,000 |
Less current maturities |  |  |  |  | 125,000 |  |  | — |
Total PNW long-term debt less current maturities |  |  |  |  | — |  |  | 125,000 |
TOTAL LONG-TERM DEBT LESS CURRENT MATURITIES |  |  |  |  | $ | 4,021,785 |  |  | $ | 3,462,391 |
(a) This schedule does not reflect the timing of redemptions that may occur prior to maturities. (b) The weighted-average rate for the variable rate pollution control bonds was 0.81% at December 31, 2016 and 0.01%-0.24% at December 31, 2015.
(c) | The weighted-average interest rate was 1.427% at December 31, 2016, and 1.024% at December 31, 2015.
(d) The interest rate was 1.520% at December 31, 2016 and 1.174% at December 31, 2015.
Principal payments due on Pinnacle West's and APS's total long-term debt | The following table shows principal payments due on Pinnacle West’s and APS’s total long-term debt (dollars in thousands):
Year |  | Consolidated Pinnacle West |  | Consolidated APS
2017 |  | $ | 125,000 |  |  | $ | — |
2018 |  | 82,000 |  |  | 82,000 |
2019 |  | 600,000 |  |  | 600,000 |
2020 |  | 250,000 |  |  | 250,000 |
2021 |  | — |  |  | — |
Thereafter |  | 3,126,125 |  |  | 3,126,125 |
Total |  | $ | 4,183,125 |  |  | $ | 4,058,125 |
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 thousands):
| As of December 31, 2016 |  | As of December 31, 2015
| Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Pinnacle West | $ | 125,000 |  |  | $ | 125,000 |  |  | $ | 125,000 |  |  | $ | 125,000 |
APS | 4,021,785 |  |  | 4,300,789 |  |  | 3,694,971 |  |  | 3,981,367 |
Total | $ | 4,146,785 |  |  | $ | 4,425,789 |  |  | $ | 3,819,971 |  |  | $ | 4,106,367 |

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