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Income Taxes - Schedule of Components of the Net Deferred Income Tax Liability (Details) - USD ($) $ in Thousands | Dec. 31, 2024 | Dec. 31, 2023
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DEFERRED TAX ASSETS |  |
Risk management activities | $ 14,539 | $ 31,411
Regulatory liabilities: |  |
Excess deferred income taxes — Tax Cuts and Jobs Act | 271,004 | 283,161
Asset retirement obligation and removal costs | 81,308 | 113,312
Unamortized investment tax credits | 66,327 | 68,521
Other postretirement benefits | 58,862 | 56,070
Other | 47,671 | 39,857
Operating lease liabilities | 400,771 | 316,067
Pension liabilities | 39,070 | 33,294
Coal reclamation liabilities | 42,391 | 45,505
Renewable energy incentives | 14,571 | 17,261
Credit and loss carryforwards | 7,682 | 43,940
Employee benefit liabilities | 57,853 | 49,222
Other | 44,412 | 28,643
Total deferred tax assets | 1,146,461 | 1,126,264
DEFERRED TAX LIABILITIES |  |
Plant-related | (2,562,990) | (2,572,495)
Risk management activities | (4,089) | (1,682)
Pension and other postretirement assets | (83,401) | (78,853)
Other special use funds | (55,146) | (56,550)
Operating lease right-of-use assets | (400,771) | (316,067)
Regulatory assets: |  |
Allowance for equity funds used during construction | (47,694) | (46,754)
Deferred fuel and purchased power | (84,393) | (149,078)
Pension benefits | (185,641) | (172,239)
Retired power plant costs | (16,904) | (20,659)
Other | (57,602) | (38,320)
Other | (43,383) | (36,107)
Total deferred tax liabilities | (3,590,934) | (3,542,744)
Deferred income taxes — net | (2,444,473) | (2,416,480)
Ocotillo deferral |  |
Regulatory assets: |  |
Defferal | (28,372) | (31,812)
SCR deferral |  |
Regulatory assets: |  |
Defferal | (20,548) | (22,128)
Arizona Public Service Company |  |
DEFERRED TAX ASSETS |  |
Risk management activities | 14,539 | 31,411
Regulatory liabilities: |  |
Excess deferred income taxes — Tax Cuts and Jobs Act | 271,004 | 283,161
Asset retirement obligation and removal costs | 81,308 | 113,312
Unamortized investment tax credits | 66,327 | 68,521
Other postretirement benefits | 58,862 | 56,070
Other | 47,671 | 39,857
Operating lease liabilities | 400,442 | 315,670
Pension liabilities | 36,100 | 29,918
Coal reclamation liabilities | 42,391 | 45,505
Renewable energy incentives | 14,571 | 17,261
Credit and loss carryforwards | 0 | 3,031
Employee benefit liabilities | 56,561 | 48,551
Other | 44,412 | 29,314
Total deferred tax assets | 1,134,188 | 1,081,582
DEFERRED TAX LIABILITIES |  |
Plant-related | (2,562,990) | (2,572,495)
Risk management activities | (4,089) | (1,682)
Pension and other postretirement assets | (82,925) | (78,297)
Other special use funds | (55,146) | (56,550)
Operating lease right-of-use assets | (400,443) | (315,670)
Regulatory assets: |  |
Allowance for equity funds used during construction | (47,694) | (46,754)
Deferred fuel and purchased power | (84,393) | (149,078)
Pension benefits | (185,641) | (172,239)
Retired power plant costs | (16,904) | (20,659)
Other | (57,602) | (38,320)
Other | (7,378) | (7,595)
Total deferred tax liabilities | (3,554,125) | (3,513,279)
Deferred income taxes — net | $ (2,419,937) | $ (2,431,697)

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