Earnings Per Share and Equity Forward Sale Agreements (Tables)

3 Months Ended

Mar. 31, 2024

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 EPS (in thousands, except per share amounts):

	Three Months Ended March 31,
	2024		2023
Net income (loss) attributable to common shareholders	$	16,862	$	(3,297)
Weighted average common shares outstanding — basic	113,621		113,358
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	327		239
Dilutive shares related to equity forward sale agreements	279		—
Total contingently issuable shares	606		239
Weighted average common shares outstanding — diluted	114,227		113,597
Earnings per weighted-average common share outstanding:
Net income (loss) attributable to common shareholders — basic	$	0.15	$	(0.03)
Net income (loss) attributable to common shareholders — diluted	$	0.15	$	(0.03)