Earnings Per Share

12 Months Ended

Dec. 31, 2023

The following table presents the calculation of Pinnacle West’s basic and diluted earnings per share (in thousands, except per share amounts):


	2023		2022		2021
Net income attributable to common shareholders	$	501,557	$	483,602	$	618,720
Weighted average common shares outstanding — basic	113,442		113,196		112,910
Net effect of dilutive securities:
Contingently issuable performance shares and restricted stock units	362		220		282
Weighted average common shares outstanding — diluted	113,804		113,416		113,192
Earnings per weighted-average common share outstanding
Net income attributable to common shareholders — basic	$	4.42	$	4.27	$	5.48
Net income attributable to common shareholders — diluted	$	4.41	$	4.26	$	5.47