Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

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 (in thousands, except per share amounts):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net income attributable to common shareholders	$	164,312	$	215,697	$	181,268	$	251,338
Weighted average common shares outstanding — basic	113,172		112,882		113,137		112,855
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	197		341		195		303
Weighted average common shares outstanding — diluted	113,369		113,223		113,332		113,158
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic	$	1.45	$	1.91	$	1.60	$	2.23
Net income attributable to common shareholders — diluted	$	1.45	$	1.91	$	1.60	$	2.22