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Earnings Per Share
 3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share

(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 March 31,

 

 

 

2024

 

 

2023

 

Net earnings attributable to Kirby

 

$

70,068

 

 

$

40,698

 

Undistributed earnings allocated to restricted shares

 

 

(1

)

 

 

(2

)

Earnings available to Kirby common stockholders – basic

 

 

70,067

 

 

 

40,696

 

Undistributed earnings allocated to restricted shares

 

 

1

 

 

 

2

 

Undistributed earnings reallocated to restricted shares

 

 

(1

)

 

 

(2

)

Earnings available to Kirby common stockholders – diluted

 

$

70,067

 

 

$

40,696

 

 

 

 

 

 

 

 

Shares outstanding:

 

 

 

 

 

 

Weighted average common stock issued and outstanding

 

 

58,473

 

 

 

59,981

 

Weighted average unvested restricted stock

 

 

(1

)

 

 

(3

)

Weighted average common stock outstanding – basic

 

 

58,472

 

 

 

59,978

 

Dilutive effect of stock options and restricted stock units

 

 

347

 

 

 

294

 

Weighted average common stock outstanding – diluted

 

 

58,819

 

 

 

60,272

 

 

 

 

 

 

 

 

Net earnings per share attributable to Kirby common stockholders:

 

 

 

 

 

 

Basic

 

$

1.20

 

 

$

0.68

 

Diluted

 

$

1.19

 

 

$

0.68

 

Certain outstanding options to purchase approximately 23,000 and 309,000 shares of common stock were excluded in the computation of diluted earnings per share as of March 31, 2024 and 2023, respectively, as such stock options would have been antidilutive. There were no antidilutive RSUs as of March 31, 2024 and 2023.