Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of earnings per weighted average common share outstanding

The following table presents the calculation of Pinnacle West’s basic and diluted earnings per share for the three and nine months ended September 30, 2016 and 2015 (in thousands, except per share amounts):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Net income attributable to common shareholders	$	263,027	$	257,116	$	388,788	$	396,140
Weighted average common shares outstanding — basic	111,416		111,036		111,363		110,984
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	684		580		624		506
Weighted average common shares outstanding — diluted	112,100		111,616		111,987		111,490
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic	$	2.36	$	2.32	$	3.49	$	3.57
Net income attributable to common shareholders — diluted	$	2.35	$	2.30	$	3.47	$	3.55