Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Net income attributable to common shareholders	$	106,663	$	164,312	$	103,366	$	181,268
Weighted average common shares outstanding — basic	113,411		113,172		113,385		113,137
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	306		197		272		195
Weighted average common shares outstanding — diluted	113,717		113,369		113,657		113,332
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic	$	0.94	$	1.45	$	0.91	$	1.60
Net income attributable to common shareholders — diluted	$	0.94	$	1.45	$	0.91	$	1.60