Earnings Per Share

6 Months Ended

Jun. 30, 2016

The following table presents the calculation of Pinnacle West’s basic and diluted earnings per share for the three and six months ended June 30, 2016 and 2015 (in thousands, except per share amounts):



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Net income attributable to common shareholders	$	121,308	$	122,902	$	125,761	$	139,024
Weighted average common shares outstanding — basic	111,368		110,986		111,336		110,958
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	636		474		594		468
Weighted average common shares outstanding — diluted	112,004		111,460		111,930		111,426
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic	$	1.09	$	1.11	$	1.13	$	1.25
Net income attributable to common shareholders — diluted	$	1.08	$	1.10	$	1.12	$	1.25