Earnings Per Share

9 Months Ended

Sep. 30, 2021

(10) 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,
	2021			2020			2021			2020
Net earnings (loss) attributable to Kirby	$	(264,730	)	$	27,489		$	(257,915	)	$	(294,750	)
Undistributed earnings allocated to restricted shares		—			(57	)		—			—
Earnings (loss) available to Kirby common stockholders – basic		(264,730	)		27,432			(257,915	)		(294,750	)
Undistributed earnings allocated to restricted shares		—			57			—			—
Undistributed earnings reallocated to restricted shares		—			(57	)		—			—
Earnings (loss) available to Kirby common stockholders – diluted	$	(264,730	)	$	27,432		$	(257,915	)	$	(294,750	)

Shares outstanding:
Weighted average common stock issued and outstanding		60,109			60,038			60,095			60,015
Weighted average unvested restricted stock		(47	)		(123	)		(51	)		(112	)
Weighted average common stock outstanding – basic		60,062			59,915			60,044			59,903
Dilutive effect of stock options and restricted stock units		—			16			—			—
Weighted average common stock outstanding – diluted		60,062			59,931			60,044			59,903

Net earnings (loss) per share attributable to Kirby common stockholders:
Basic	$	(4.41	)	$	0.46		$	(4.30	)	$	(4.92	)
Diluted	$	(4.41	)	$	0.46		$	(4.30	)	$	(4.92	)

Certain outstanding options to purchase approximately 627,000 and 681,000 shares of common stock were excluded in the computation of diluted earnings per share as of September 30, 2021 and 2020, respectively, as such stock options would have been antidilutive. Certain outstanding RSUs to convert to 565,000 and 162,000 shares of common stock were also excluded in the computation of diluted earnings per share as of September 30, 2021 and 2020, respectively, as such RSUs would have been antidilutive.