Earnings Per Share

3 Months Ended

Mar. 31, 2022

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 March 31,
		2022		2021
Net income attributable to common shareholders		$	16,956	$	35,641
Weighted average common shares outstanding — basic		113,102		112,829
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units		193		264
Weighted average common shares outstanding — diluted		113,295		113,093
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic		$	0.15	$	0.32
Net income attributable to common shareholders — diluted		$	0.15	$	0.32