EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2015

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, 2015 and 2014 (in thousands, except per share amounts):

	Three months ended March 31,
	2015			2014
Net earnings attributable to Kirby	$	61,078		$	62,246
Undistributed earnings allocated to restricted shares		(345	)		(370	)
Income available to Kirby common stockholders – basic		60,733			61,876
Undistributed earnings allocated to restricted shares		345			370
Undistributed earnings reallocated to restricted shares		(345	)		(368	)
Income available to Kirby common stockholders – diluted	$	60,733		$	61,878
Shares outstanding:
Weighted average common stock issued and outstanding		55,897			56,903
Weighted average unvested restricted stock		(316	)		(338	)
Weighted average common stock outstanding – basic		55,581			56,565
Dilutive effect of stock options		122			216
Weighted average common stock outstanding – diluted		55,703			56,781
Net earnings per share attributable to Kirby common stockholders:
Basic	$	1.09		$	1.09
Diluted	$	1.09		$	1.09

Certain outstanding options to purchase approximately 234,000 and 75,000 shares of common stock were excluded in the computation of diluted earnings per share as of March 31, 2015 and 2014, respectively, as such stock options would have been antidilutive.