Earnings Per Share

9 Months Ended

Sep. 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 September 30,					Nine Months Ended September 30,
		2021		2020			2021		2020
Net income attributable to common shareholders		$	339,798	$	346,372		$	591,136	$	569,950
Weighted average common shares outstanding — basic		112,923		112,679			112,878		112,639
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units		294		308			300		273
Weighted average common shares outstanding — diluted		113,217		112,987			113,178		112,912
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic		$	3.01	$	3.07		$	5.24	$	5.06
Net income attributable to common shareholders — diluted		$	3.00	$	3.07		$	5.22	$	5.05