Earnings Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share 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,
	2023		2022		2023		2022
Net income attributable to common shareholders	$	398,214	$	326,326	$	501,580	$	507,594
Weighted average common shares outstanding — basic	113,464		113,211		113,411		113,162
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	374		252		307		214
Weighted average common shares outstanding — diluted	113,838		113,463		113,718		113,376
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic	$	3.51	$	2.88	$	4.42	$	4.49
Net income attributable to common shareholders — diluted	$	3.50	$	2.88	$	4.41	$	4.48