Earnings Per Share

9 Months Ended

Sep. 30, 2017

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, 2017 and 2016 (in thousands, except per share amounts):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Net income attributable to common shareholders	$	276,072	$	263,027	$	466,827	$	388,788
Weighted average common shares outstanding — basic	111,835		111,416		111,787		111,363
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	566		684		527		624
Weighted average common shares outstanding — diluted	112,401		112,100		112,314		111,987
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic	$	2.47	$	2.36	$	4.18	$	3.49
Net income attributable to common shareholders — diluted	$	2.46	$	2.35	$	4.16	$	3.47