Earnings Per Share

12 Months Ended

Dec. 31, 2023

Note L – Earnings Per Share

Net income (loss) attributable to Murphy was used as the numerator in computing both basic and diluted income per common share for each of the three years presented. The following table reconciles the weighted-average shares outstanding used for these computations.


(Weighted-average shares)	2023	2022	2021
Basic method	155,233,560	155,276,533	154,290,741
Dilutive stock options and restricted stock units ¹	1,412,869	2,198,305	–
Diluted method	156,646,429	157,474,838	154,290,741

1 Due to a net loss recognized by the Company for the year ended December 31, 2021, 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 each of the three years presented but were not included in the computation of dilutive earnings per share because the incremental shares from the assumed conversion were antidilutive.


	2023	2022	2021
Antidilutive stock options excluded from diluted shares	–	126,000	1,420,992
Weighted average price of these options	–	$49.65	$35.30