Earnings Per Share

6 Months Ended

Jun. 30, 2018

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, 2018 and 2017 (in thousands, except per share amounts):



	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Net income attributable to common shareholders	$	166,738	$	167,443	$	169,959	$	190,755
Weighted average common shares outstanding — basic	112,115		111,797		112,067		111,763
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	356		548		415		507
Weighted average common shares outstanding — diluted	112,471		112,345		112,482		112,270
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic	$	1.49	$	1.50	$	1.52	$	1.71
Net income attributable to common shareholders — diluted	$	1.48	$	1.49	$	1.51	$	1.70