Earnings Per Share

9 Months Ended

Sep. 30, 2014

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 for the three and nine months ended September 30, 2014 and 2013 (in thousands, except per share amounts):

	Three Months Ended   September 30,				Nine Months Ended   September 30,
	2014		2013		2014		2013
Net income attributable to common shareholders	$	243,961	$	226,163	$	392,185	$	381,814
Average common shares outstanding — basic	110,686		110,009		110,579		109,935
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	417		1,044		383		978
Average common shares outstanding — diluted	111,103		111,053		110,962		110,913
Earnings per average common share attributable to common shareholders — basic	$	2.20	$	2.06	$	3.55	$	3.47
Earnings per average common share attributable to common shareholders — diluted	$	2.20	$	2.04	$	3.53	$	3.44