Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Weighted Average Common Share Outstanding

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,
	2023		2022
Net income (loss) attributable to common shareholders	$	(3,297)	$	16,956
Weighted average common shares outstanding — basic	113,358		113,102
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	239		193
Weighted average common shares outstanding — diluted	113,597		113,295
Earnings per weighted-average common share outstanding
Net income (loss) attributable to common shareholders — basic	$	(0.03)	$	0.15
Net income (loss) attributable to common shareholders — diluted	$	(0.03)	$	0.15