Earnings Per Share

9 Months Ended

Sep. 30, 2021

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 nine-month periods ended September 30, 2021 and 2020. The following table reports the weighted-average shares outstanding used for these computations.


	Three Months Ended September 30,		Nine Months Ended September 30,
(Weighted-average shares)	2021	2020	2021	2020
Basic method	154,439,313	153,596,109	154,239,440	153,479,654
Dilutive stock options and restricted stock units ¹	1,492,949	—	—	—
Diluted method	155,932,262	153,596,109	154,239,440	153,479,654

1 Due to a net loss recognized by the Company for the nine-month period ended September 30, 2021 and the three-month and nine-month periods ended September 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 September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Antidilutive stock options excluded from diluted shares	1,316,222		2,111,068		1,502,758		2,305,973
Weighted average price of these options	$	34.42	$	38.54	$	34.97	$	40.15