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Earnings Per Share | 9 Months Ended
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Sep. 30, 2020
Earnings Per Share [Abstract] |
Earnings Per Share |
(11) | Earnings Per Share
The following table presents the components of basic and diluted earnings (loss) per share (in thousands, except per share amounts):
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Net earnings (loss) attributable to Kirby |  | $ | 27,489 |  |  | $ | 47,987 |  |  | $ | (294,750 | ) |  | $ | 139,570 |
Undistributed earnings allocated to restricted shares |  |  | (57 | ) |  |  | (128 | ) |  |  | — |  |  |  | (369 | )
Income (loss) available to Kirby common stockholders – basic |  |  | 27,432 |  |  |  | 47,859 |  |  |  | (294,750 | ) |  |  | 139,201 |
Undistributed earnings allocated to restricted shares |  |  | 57 |  |  |  | 128 |  |  |  | — |  |  |  | 369 |
Undistributed earnings reallocated to restricted shares |  |  | (57 | ) |  |  | (128 | ) |  |  | — |  |  |  | (368 | )
Income (loss) available to Kirby common stockholders – diluted |  | $ | 27,432 |  |  | $ | 47,859 |  |  | $ | (294,750 | ) |  | $ | 139,202 |
Shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common stock issued and outstanding |  |  | 60,038 |  |  |  | 59,908 |  |  |  | 60,015 |  |  |  | 59,891 |
Weighted average unvested restricted stock |  |  | (123 | ) |  |  | (159 | ) |  |  | (112 | ) |  |  | (158 | )
Weighted average common stock outstanding – basic |  |  | 59,915 |  |  |  | 59,749 |  |  |  | 59,903 |  |  |  | 59,733 |
Dilutive effect of stock options and restricted stock units |  |  | 16 |  |  |  | 157 |  |  |  | — |  |  |  | 146 |
Weighted average common stock outstanding – diluted |  |  | 59,931 |  |  |  | 59,906 |  |  |  | 59,903 |  |  |  | 59,879 |
Net earnings (loss) per share attributable to Kirby common stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.46 |  |  | $ | 0.80 |  |  | $ | (4.92 | ) |  | $ | 2.33 |
Diluted |  | $ | 0.46 |  |  | $ | 0.80 |  |  | $ | (4.92 | ) |  | $ | 2.32 |
Certain outstanding options to purchase approximately 681,000 and 297,000 shares of common stock were excluded in the computation of diluted earnings per share as of September 30, 2020 and 2019, respectively, as such stock options would have been antidilutive. Certain outstanding RSUs to convert to 162,000 and 5,000 shares of common stock were also excluded in the computation of diluted earnings per share as of September 30, 2020 and 2019, respectively, as such RSUs would have been antidilutive.

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