Earnings Per Share

12 Months Ended

Dec. 31, 2018

The following table presents the calculation of Pinnacle West’s basic and diluted earnings per share for continuing operations attributable to common shareholders for the years ended December 31, 2018, 2017 and 2016 (in thousands, except per share amounts):



	2018		2017		2016
Net income attributable to common shareholders	$	511,047	$	488,456	$	442,034
Weighted average common shares outstanding — basic	112,129		111,839		111,409
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	421		528		637
Weighted average common shares outstanding — diluted	112,550		112,367		112,046
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders - basic	$	4.56	$	4.37	$	3.97
Net Income attributable to common shareholders - diluted	$	4.54	$	4.35	$	3.95