Earnings Per Share

6 Months Ended

Jun. 30, 2023

(9) Earnings Per Share

The following table presents the components of basic and diluted earnings per share (in thousands, except per share amounts):


	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Net earnings attributable to Kirby	$	57,367		$	28,457		$	98,065		$	45,891
Undistributed earnings allocated to restricted shares		(22	)		(10	)		(21	)		(11	)
Earnings available to Kirby common stockholders – basic		57,345			28,447			98,044			45,880
Undistributed earnings allocated to restricted shares		22			10			21			11
Undistributed earnings reallocated to restricted shares		(22	)		(10	)		(21	)		(11	)
Earnings available to Kirby common stockholders – diluted	$	57,345		$	28,447		$	98,044		$	45,880

Shares outstanding:
Weighted average common stock issued and outstanding		59,829			60,222			59,905			60,202
Weighted average unvested restricted stock		(23	)		(20	)		(13	)		(14	)
Weighted average common stock outstanding – basic		59,806			60,202			59,892			60,188
Dilutive effect of stock options and restricted stock units		279			265			287			277
Weighted average common stock outstanding – diluted		60,085			60,467			60,179			60,465

Net earnings per share attributable to Kirby common stockholders:
Basic	$	0.96		$	0.47		$	1.64		$	0.76
Diluted	$	0.95		$	0.47		$	1.63		$	0.76

Certain outstanding options to purchase approximately 0.3 million and 0.4 million shares of common stock were excluded in the computation of diluted earnings per share as of June 30, 2023 and 2022, respectively, as such stock options would have been antidilutive. Certain outstanding RSUs to convert to 12,000 shares of common stock were also excluded in the computation of diluted earnings per share as of June 30, 2022 as such RSUs would have been antidilutive. There were no antidilutive RSUs as of June 30, 2023.