Earnings Per Share

6 Months Ended

Jun. 30, 2021

The following table presents the calculation of Pinnacle West’s basic and diluted earnings per share (in thousands, except per share amounts):


	Three Months Ended June 30,					Six Months Ended June 30,
		2021		2020			2021		2020
Net income attributable to common shareholders		$	215,697	$	193,585		$	251,338	$	223,578
Weighted average common shares outstanding — basic		112,882		112,638			112,855		112,616
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units		341		241			303		255
Weighted average common shares outstanding — diluted		113,223		112,879			113,158		112,871
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic		$	1.91	$	1.72		$	2.23	$	1.99
Net income attributable to common shareholders — diluted		$	1.91	$	1.71		$	2.22	$	1.98