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10-Q Filing

KIRBY CORP CIK: 56047 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0000950170-23-018692
Period End Date 20230331
Filing Date 20230508
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance kex-20230331_htm.xml
Balance Sheet 82 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $26.70M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $80.58M USD Point-in-time
Common stock, par value per share (in dollars per share) CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Common stock, par value per share (in dollars per share) CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 120.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 120.00M shares Point-in-time
Trade - less allowance for doubtful accounts AccountsReceivableNetCurrent $526.49M USD Point-in-time
Trade - less allowance for doubtful accounts AccountsReceivableNetCurrent $483.41M USD Point-in-time
Other OtherReceivables $114.56M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 65.50M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 65.50M shares Point-in-time
Other OtherReceivables $109.54M USD Point-in-time
Inventories - net InventoryNet $461.85M USD Point-in-time
Inventories - net InventoryNet $475.22M USD Point-in-time
Treasury stock, shares (in shares) TreasuryStockShares 5.60M shares Point-in-time
Treasury stock, shares (in shares) TreasuryStockShares 5.50M shares Point-in-time
Prepaid expense and other current assets PrepaidExpenseAndOtherAssetsCurrent $62.42M USD Point-in-time
Prepaid expense and other current assets PrepaidExpenseAndOtherAssetsCurrent $71.37M USD Point-in-time
Total current assets AssetsCurrent $1.21B USD Point-in-time
Total current assets AssetsCurrent $1.20B USD Point-in-time
Property and equipment PropertyPlantAndEquipmentGross $5.53B USD Point-in-time
Property and equipment PropertyPlantAndEquipmentGross $5.45B USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.82B USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.87B USD Point-in-time
Property and equipment - net PropertyPlantAndEquipmentNet $3.67B USD Point-in-time
Property and equipment - net PropertyPlantAndEquipmentNet $3.63B USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $155.31M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $154.51M USD Point-in-time
Goodwill Goodwill $438.75M USD Point-in-time
Goodwill Goodwill $438.75M USD Point-in-time
Other intangibles, net FiniteLivedIntangibleAssetsNet $51.46M USD Point-in-time
Other intangibles, net FiniteLivedIntangibleAssetsNet $49.33M USD Point-in-time
Other assets OtherAssetsNoncurrent $65.49M USD Point-in-time
Other assets OtherAssetsNoncurrent $64.98M USD Point-in-time
Total assets Assets $5.55B USD Point-in-time
Total assets Assets $5.57B USD Point-in-time
Bank notes payable NotesPayableToBankCurrent $3.29M USD Point-in-time
Bank notes payable NotesPayableToBankCurrent $3.98M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.11M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $323.00K USD Point-in-time
Accounts payable AccountsPayableCurrent $278.47M USD Point-in-time
Accounts payable AccountsPayableCurrent $278.08M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $204.75M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $173.99M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $32.88M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $36.44M USD Point-in-time
Deferred revenues ContractWithCustomerLiabilityCurrent $124.36M USD Point-in-time
Deferred revenues ContractWithCustomerLiabilityCurrent $119.31M USD Point-in-time
Total current liabilities LiabilitiesCurrent $614.79M USD Point-in-time
Total current liabilities LiabilitiesCurrent $642.20M USD Point-in-time
Long-term debt, net - less current portion LongTermDebtNoncurrent $1.08B USD Point-in-time
Long-term debt, net - less current portion LongTermDebtNoncurrent $1.08B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $638.44M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $625.88M USD Point-in-time
Operating lease liabilities - less current portion OperatingLeaseLiabilityNoncurrent $146.44M USD Point-in-time
Operating lease liabilities - less current portion OperatingLeaseLiabilityNoncurrent $142.14M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $14.28M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $23.21M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $1.87B USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $1.87B USD Point-in-time
Contingencies and commitments CommitmentsAndContingencies - USD Point-in-time
Contingencies and commitments CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.10 par value per share. Authorized 120 million shares, issued 65.5 million shares CommonStockValue $6.55M USD Point-in-time
Common stock, $0.10 par value per share. Authorized 120 million shares, issued 65.5 million shares CommonStockValue $6.55M USD Point-in-time
Additional Paid in Capital AdditionalPaidInCapitalCommonStock $856.68M USD Point-in-time
Additional Paid in Capital AdditionalPaidInCapitalCommonStock $859.35M USD Point-in-time
Accumulated other comprehensive income - net AccumulatedOtherComprehensiveIncomeLossNetOfTax $16.85M USD Point-in-time
Accumulated other comprehensive income - net AccumulatedOtherComprehensiveIncomeLossNetOfTax $17.02M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.51B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.47B USD Point-in-time
Treasury stock - at cost, 5.5 million shares at March 31, 2023 and 5.6 million at December 31, 2022 TreasuryStockValue $308.60M USD Point-in-time
Treasury stock - at cost, 5.5 million shares at March 31, 2023 and 5.6 million at December 31, 2022 TreasuryStockValue $306.75M USD Point-in-time
Total Kirby stockholders' equity StockholdersEquity $3.08B USD Point-in-time
Total Kirby stockholders' equity StockholdersEquity $3.04B USD Point-in-time
Noncontrolling interests MinorityInterest $2.29M USD Point-in-time
Noncontrolling interests MinorityInterest $2.21M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.91B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.09B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.89B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.05B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $5.55B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $5.57B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $750.44M USD 1 Quarter
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $610.78M USD 1 Quarter
Costs of sales and operating expenses CostsOfSalesAndOperatingExpenses $450.62M USD 1 Quarter
Costs of sales and operating expenses CostsOfSalesAndOperatingExpenses $542.08M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $88.85M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $75.77M USD 1 Quarter
Taxes, other than on income TaxesExcludingIncomeAndExciseTaxes $9.59M USD 1 Quarter
Taxes, other than on income TaxesExcludingIncomeAndExciseTaxes $9.19M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $51.11M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $49.96M USD 1 Quarter
Gain on disposition of assets GainLossOnDispositionOfAssets $2.23M USD 1 Quarter
Gain on disposition of assets GainLossOnDispositionOfAssets $4.85M USD 1 Quarter
Total costs and expenses CostsAndExpenses $688.99M USD 1 Quarter
Total costs and expenses CostsAndExpenses $581.09M USD 1 Quarter
Operating income OperatingIncomeLoss $61.45M USD 1 Quarter
Operating income OperatingIncomeLoss $29.69M USD 1 Quarter
Other income OtherNonoperatingIncome $4.31M USD 1 Quarter
Other income OtherNonoperatingIncome $6.44M USD 1 Quarter
Interest expense InterestExpense $13.22M USD 1 Quarter
Interest expense InterestExpense $10.20M USD 1 Quarter
Earnings before taxes on income IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $54.67M USD 1 Quarter
Earnings before taxes on income IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $23.80M USD 1 Quarter
Provision for taxes on income IncomeTaxExpenseBenefit $6.21M USD 1 Quarter
Provision for taxes on income IncomeTaxExpenseBenefit $14.05M USD 1 Quarter
Net earnings ProfitLoss $40.62M USD 1 Quarter
Net earnings ProfitLoss $17.59M USD 1 Quarter
Net (earnings) loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-77.00K USD 1 Quarter
Net (earnings) loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $152.00K USD 1 Quarter
Net earnings attributable to Kirby NetIncomeLoss $17.43M USD 1 Quarter
Net earnings attributable to Kirby NetIncomeLoss $40.70M USD 1 Quarter
Basic EarningsPerShareBasic $0.68 USD 1 Quarter
Basic EarningsPerShareBasic $0.29 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.68 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.29 USD 1 Quarter
Cash Flow Statement 62 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $40.62M USD 1 Quarter
Net earnings ProfitLoss $17.59M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $51.11M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $49.96M USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $12.57M USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $5.86M USD 1 Quarter
Amortization of share-based compensation ShareBasedCompensation $5.81M USD 1 Quarter
Amortization of share-based compensation ShareBasedCompensation $5.96M USD 1 Quarter
Amortization of major maintenance costs AmortizationOfMajorMaintenanceCosts $6.99M USD 1 Quarter
Amortization of major maintenance costs AmortizationOfMajorMaintenanceCosts $7.11M USD 1 Quarter
Other OtherNoncashIncomeExpense $2.30M USD 1 Quarter
Other OtherNoncashIncomeExpense $3.48M USD 1 Quarter
Decrease in cash flows resulting from changes in operating assets and liabilities, net IncreaseDecreaseInOperatingCapital $98.32M USD 1 Quarter
Decrease in cash flows resulting from changes in operating assets and liabilities, net IncreaseDecreaseInOperatingCapital $50.78M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $32.22M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $16.48M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $73.20M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $35.08M USD 1 Quarter
Acquisitions of businesses PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisitions of businesses PaymentsToAcquireBusinessesNetOfCashAcquired $3.90M USD 1 Quarter
Proceeds from disposition of assets ProceedsFromSaleOfProductiveAssets $8.03M USD 1 Quarter
Proceeds from disposition of assets ProceedsFromSaleOfProductiveAssets $14.28M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-65.17M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-24.70M USD 1 Quarter
Borrowings on bank credit facilities, net ProceedsFromRepaymentsOfLinesOfCredit $112.69M USD 1 Quarter
Borrowings on bank credit facilities, net ProceedsFromRepaymentsOfLinesOfCredit $1.16M USD 1 Quarter
Borrowings on long-term debt ProceedsFromRepaymentsOfNotesPayable - USD 1 Quarter
Borrowings on long-term debt ProceedsFromRepaymentsOfNotesPayable $240.00M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $350.00M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $10.00M USD 1 Quarter
Payment of debt issuance costs PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Payment of debt issuance costs PaymentsOfDebtIssuanceCosts $1.24M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $2.34M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $118.00K USD 1 Quarter
Payments related to tax withholding for share-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.09M USD 1 Quarter
Payments related to tax withholding for share-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.56M USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfCommonStock $3.18M USD 1 Quarter
Return of investment to noncontrolling interest and other ReturnOfInvestmentToNoncontrollingInterests $24.00K USD 1 Quarter
Return of investment to noncontrolling interest and other ReturnOfInvestmentToNoncontrollingInterests $348.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-5.19M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-9.94M USD 1 Quarter
Decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-53.88M USD 1 Quarter
Decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-2.42M USD 1 Quarter
Cash and cash equivalents, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $34.81M USD Point-in-time
Cash and cash equivalents, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $26.70M USD Point-in-time
Cash and cash equivalents, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $80.58M USD Point-in-time
Cash and cash equivalents, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $32.40M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $34.81M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $26.70M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $80.58M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $32.40M USD Point-in-time
Interest paid InterestPaidNet $18.02M USD 1 Quarter
Interest paid InterestPaidNet $20.29M USD 1 Quarter
Income taxes paid (refunded), net IncomeTaxesPaidNet $694.00K USD 1 Quarter
Income taxes paid (refunded), net IncomeTaxesPaidNet $-24.00K USD 1 Quarter
Operating cash outflow from operating leases OperatingLeasePayments $10.45M USD 1 Quarter
Operating cash outflow from operating leases OperatingLeasePayments $11.04M USD 1 Quarter
Capital expenditures included in accounts payable CapitalExpendituresIncurredPaidAndNotYetPaid $8.20M USD 1 Quarter
Capital expenditures included in accounts payable CapitalExpendituresIncurredPaidAndNotYetPaid $487.00K USD 1 Quarter
Right-of-use assets obtained in exchange for lease obligations RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $10.77M USD 1 Quarter
Right-of-use assets obtained in exchange for lease obligations RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $6.46M USD 1 Quarter
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.91B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.09B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.89B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.05B USD Point-in-time
Stock option exercises StockIssuedDuringPeriodValueStockOptionsExercised $2.34M USD 1 Quarter
Stock option exercises StockIssuedDuringPeriodValueStockOptionsExercised $118.00K USD 1 Quarter
Tax withholdings on equity award vesting AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $3.09M USD 1 Quarter
Tax withholdings on equity award vesting AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $3.56M USD 1 Quarter
Amortization of share-based compensation EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount $-5.96M USD 1 Quarter
Amortization of share-based compensation EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount $-5.81M USD 1 Quarter
Treasury stock purchases TreasuryStockValueAcquiredCostMethod $3.18M USD 1 Quarter
Total comprehensive income (loss), net of taxes ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $18.07M USD 1 Quarter
Total comprehensive income (loss), net of taxes ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $40.78M USD 1 Quarter
Return of investment to noncontrolling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $200.00K USD 1 Quarter
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.91B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.09B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.89B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.05B USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $40.62M USD 1 Quarter
Net earnings ProfitLoss $17.59M USD 1 Quarter
Pension and postretirement benefits OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-13.00K USD 1 Quarter
Pension and postretirement benefits OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $61.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $476.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $225.00K USD 1 Quarter
Total other comprehensive income, net of taxes OtherComprehensiveIncomeLossNetOfTax $489.00K USD 1 Quarter
Total other comprehensive income, net of taxes OtherComprehensiveIncomeLossNetOfTax $164.00K USD 1 Quarter
Total comprehensive income, net of taxes ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $18.07M USD 1 Quarter
Total comprehensive income, net of taxes ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $40.78M USD 1 Quarter
Net (earnings) loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-77.00K USD 1 Quarter
Net (earnings) loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $152.00K USD 1 Quarter
Comprehensive income attributable to Kirby ComprehensiveIncomeNetOfTax $17.92M USD 1 Quarter
Comprehensive income attributable to Kirby ComprehensiveIncomeNetOfTax $40.86M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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