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Income Taxes - Components of Deferred Income Tax Liability (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022
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DEFERRED TAX ASSETS |  |
Risk management activities | $ 31,411 | $ 8,826
Regulatory liabilities: |  |
Excess deferred income taxes — Tax Cuts and Jobs Act | 283,161 | 295,014
Asset retirement obligation and removal costs | 113,312 | 107,104
Unamortized investment tax credits | 68,521 | 48,035
Other postretirement benefits | 56,070 | 66,893
Other | 39,857 | 62,915
Operating lease liabilities | 316,067 | 184,030
Pension liabilities | 33,294 | 33,674
Coal reclamation liabilities | 45,505 | 44,312
Renewable energy incentives | 17,261 | 19,948
Credit and loss carryforwards | 43,940 | 37,647
Other | 77,865 | 72,605
Total deferred tax assets | 1,126,264 | 981,003
DEFERRED TAX LIABILITIES |  |
Plant-related | (2,572,495) | (2,518,164)
Risk management activities | (1,682) | (32,648)
Pension and other postretirement assets | (78,853) | (96,845)
Other special use funds | (56,550) | (57,572)
Operating lease right-of-use assets | (316,067) | (184,030)
Regulatory assets: |  |
Allowance for equity funds used during construction | (46,754) | (44,405)
Deferred fuel and purchased power | (149,078) | (114,232)
Pension benefits | (172,239) | (157,629)
Retired power plant costs | (20,659) | (24,397)
Other | (92,260) | (103,023)
Other | (36,107) | (32,479)
Total deferred tax liabilities | (3,542,744) | (3,365,424)
Deferred income taxes — net | (2,416,480) | (2,384,421)
Arizona Public Service Company |  |
DEFERRED TAX ASSETS |  |
Risk management activities | 31,411 | 8,826
Regulatory liabilities: |  |
Excess deferred income taxes — Tax Cuts and Jobs Act | 283,161 | 295,014
Asset retirement obligation and removal costs | 113,312 | 107,104
Unamortized investment tax credits | 68,521 | 48,035
Other postretirement benefits | 56,070 | 66,893
Other | 39,857 | 62,915
Operating lease liabilities | 315,670 | 182,663
Pension liabilities | 29,918 | 30,436
Coal reclamation liabilities | 45,505 | 44,312
Renewable energy incentives | 17,261 | 19,948
Credit and loss carryforwards | 3,031 | 13,654
Other | 77,865 | 72,605
Total deferred tax assets | 1,081,582 | 952,405
DEFERRED TAX LIABILITIES |  |
Plant-related | (2,572,495) | (2,518,164)
Risk management activities | (1,682) | (32,648)
Pension and other postretirement assets | (78,297) | (96,196)
Other special use funds | (56,550) | (57,572)
Operating lease right-of-use assets | (315,670) | (182,663)
Regulatory assets: |  |
Allowance for equity funds used during construction | (46,754) | (44,405)
Deferred fuel and purchased power | (149,078) | (114,232)
Pension benefits | (172,239) | (157,629)
Retired power plant costs | (20,659) | (24,397)
Other | (92,260) | (103,023)
Other | (7,595) | (7,123)
Total deferred tax liabilities | (3,513,279) | (3,338,052)
Deferred income taxes — net | $ (2,431,697) | $ (2,385,647)

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