Earnings Per Share

9 Months Ended

Sep. 30, 2018

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Net income attributable to common shareholders	$	315,012	$	276,072	$	484,971	$	466,827
Weighted average common shares outstanding — basic	112,148		111,835		112,094		111,787
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	385		566		405		527
Weighted average common shares outstanding — diluted	112,533		112,401		112,499		112,314
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic	$	2.81	$	2.47	$	4.33	$	4.18
Net income attributable to common shareholders — diluted	$	2.80	$	2.46	$	4.31	$	4.16