Earnings per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings per Share

Note J – Earnings per Share

Net (loss) income attributable to Murphy was used as the numerator in computing both basic and diluted income per Common share for the three-month and six-month periods ended June 30, 2020 and 2019.  The following table reports the weighted-average shares outstanding used for these computations.

	Three Months Ended June 30,		Six Months Ended June 30,
(Weighted-average shares)	2020	2019	2020	2019
Basic method	153,580,758	168,537,896	153,428,666	170,555,685
Dilutive stock options and restricted stock units ¹	—	734,567	—	877,007
Diluted method	153,580,758	169,272,463	153,428,666	171,432,692

¹ Due to a net loss recognized by the Company for the three-month and six-month periods ended June 30, 2020, no unvested stock awards were included in the computation of diluted earnings per share because the effect would have been antidilutive.

The following table reflects certain options to purchase shares of common stock that were outstanding during the periods presented but were not included in the computation of diluted shares above because the incremental shares from the assumed conversion were antidilutive.

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Antidilutive stock options excluded from diluted shares	2,187,235		2,927,469		2,396,920		3,066,166
Weighted average price of these options	$	39.24	$	45.38	$	40.83	$	45.66