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Earnings Per Share | 3 Months Ended
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Mar. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share 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 |  |  |  |  |
For the three months ended March 31, 2023, 239 thousand shares were excluded from the calculation of diluted weighted average common shares outstanding, as their inclusion would have been antidilutive. For the three months ended March 31, 2022, no shares were excluded from the calculation of diluted weighted average common shares outstanding.

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