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Earnings Per Share | 12 Months Ended
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Dec. 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):
| 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 |

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