EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2019

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

(12) EARNINGS PER SHARE

The following table presents the components of basic and diluted earnings per share for the three months and six months ended June 30, 2019 and 2018 (in thousands, except per share amounts):

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Net earnings attributable to Kirby	$	47,287		$	28,602		$	91,583		$	61,073
Undistributed earnings allocated to restricted shares		(122	)		(116	)		(241	)		(269	)
Income available to Kirby common stockholders – basic		47,165			28,486			91,342			60,804
Undistributed earnings allocated to restricted shares		122			116			241			269
Undistributed earnings reallocated to restricted shares		(122	)		(115	)		(240	)		(269	)
Income available to Kirby common stockholders – diluted	$	47,165		$	28,487		$	91,343		$	60,804
Shares outstanding:
Weighted average common stock issued and outstanding		59,894			59,790			59,882			59,735
Weighted average unvested restricted stock		(154	)		(242	)		(157	)		(263	)
Weighted average common stock outstanding – basic		59,740			59,548			59,725			59,472
Dilutive effect of stock options and restricted stock units		167			172			140			137
Weighted average common stock outstanding – diluted		59,907			59,720			59,865			59,609
Net earnings per share attributable to Kirby common stockholders:
Basic	$	0.79		$	0.48		$	1.53		$	1.02
Diluted	$	0.79		$	0.48		$	1.53		$	1.02

Certain outstanding options to purchase approximately 297,000 and 189,000 shares of common stock were excluded in the computation of diluted earnings per share as of June 30, 2019 and 2018, respectively, as such stock options would have been antidilutive.  Certain outstanding RSUs to convert to 4,000 shares of common stock were also excluded in the computation of diluted earnings per share as of June 30, 2019 as such RSUs would have been antidilutive.