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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2016
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE
(9)EARNINGS PER SHARE

The following table presents the components of basic and diluted earnings per share for the three months ended March 31, 2016 and 2015 (in thousands, except per share amounts):
 
  
Three months ended
March 31,
 
  
2016
  
2015
 
Net earnings attributable to Kirby
 
$
38,099
  
$
61,078
 
Undistributed earnings allocated to restricted shares
  
(240
)
  
(345
)
Income available to Kirby common stockholders – basic
  
37,859
   
60,733
 
Undistributed earnings allocated to restricted shares
  
240
   
345
 
Undistributed earnings reallocated to restricted shares
  
(239
)
  
(345
)
Income available to Kirby common stockholders – diluted
 
$
37,860
  
$
60,733
 
         
Shares outstanding:
        
Weighted average common stock issued and outstanding
  
53,780
   
55,897
 
Weighted average unvested restricted stock
  
(338
)
  
(316
)
Weighted average common stock outstanding – basic
  
53,442
   
55,581
 
Dilutive effect of stock options
  
41
   
122
 
Weighted average common stock outstanding – diluted
  
53,483
   
55,703
 
         
Net earnings per share attributable to Kirby common stockholders:
        
Basic
 
$
0.71
  
$
1.09
 
Diluted
 
$
0.71
  
$
1.09
 
 
Certain outstanding options to purchase approximately 542,000 and 234,000 shares of common stock were excluded in the computation of diluted earnings per share as of March 31, 2016 and 2015, respectively, as such stock options would have been antidilutive.