Earnings Per Share

9 Months Ended

Sep. 30, 2019

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, 2019 and 2018 (in thousands, except per share amounts):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Net income attributable to common shareholders	$	312,276	$	315,012	$	474,339	$	484,971
Weighted average common shares outstanding — basic	112,463		112,148		112,408		112,094
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	283		385		331		405
Weighted average common shares outstanding — diluted	112,746		112,533		112,739		112,499
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic	$	2.78	$	2.81	$	4.22	$	4.33
Net income attributable to common shareholders — diluted	$	2.77	$	2.80	$	4.21	$	4.31