Earnings Per Share

12 Months Ended

Dec. 31, 2016

The following table presents the calculation of Pinnacle West’s basic and diluted earnings per share for continuing operations attributable to common shareholders for the years ended December 31, 2016, 2015 and 2014 (in thousands, except per share amounts):



	2016		2015		2014
Net income attributable to common shareholders	$	442,034	$	437,257	$	397,595
Weighted average common shares outstanding — basic	111,409		111,026		110,626
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	637		526		552
Weighted average common shares outstanding — diluted	112,046		111,552		111,178
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders - basic	$	3.97	$	3.94	$	3.59
Net Income attributable to common shareholders - diluted	$	3.95	$	3.92	$	3.58