Earnings Per Share

9 Months Ended

Sep. 30, 2022

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,
	2022		2021		2022		2021
Net income attributable to common shareholders	$	326,326	$	339,798	$	507,594	$	591,136
Weighted average common shares outstanding — basic	113,211		112,923		113,162		112,878
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	252		294		214		300
Weighted average common shares outstanding — diluted	113,463		113,217		113,376		113,178
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic	$	2.88	$	3.01	$	4.49	$	5.24
Net income attributable to common shareholders — diluted	$	2.88	$	3.00	$	4.48	$	5.22