10-Q Filing

KIRBY CORP CIK: 56047 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001140361-18-021679`
Period End Date	20180331
Filing Date	20180504
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	kex-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 34 Cash Flow Statement 58 Comprehensive Income 16

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.63M	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`	$452.22M	USD	Point-in-time
Trade - less allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$485.87M	USD	Point-in-time
Other	`OtherReceivables`	$106.23M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	65.47M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	65.47M	shares	Point-in-time
Other	`OtherReceivables`	$110.64M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	5.80M	shares	Point-in-time
Inventories - net	`InventoryNet`	$315.73M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	5.78M	shares	Point-in-time
Inventories - net	`InventoryNet`	$372.18M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$62.80M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$80.96M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.06B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$957.08M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$4.86B	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$4.36B	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.42B	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.40B	USD	Point-in-time
Property and equipment - net	`PropertyPlantAndEquipmentNet`	$3.44B	USD	Point-in-time
Property and equipment - net	`PropertyPlantAndEquipmentNet`	$2.96B	USD	Point-in-time
Goodwill	`Goodwill`	$935.75M	USD	Point-in-time
Goodwill	`Goodwill`	$935.13M	USD	Point-in-time
Other intangibles, net	`FiniteLivedIntangibleAssetsNet`	$228.01M	USD	Point-in-time
Other intangibles, net	`FiniteLivedIntangibleAssetsNet`	$232.81M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$50.21M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$43.14M	USD	Point-in-time
Total assets	`Assets`	$5.71B	USD	Point-in-time
Total assets	`Assets`	$5.13B	USD	Point-in-time
Bank notes payable	`NotesPayableToBankCurrent`	$3.00K	USD	Point-in-time
Bank notes payable	`NotesPayableToBankCurrent`	$27.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$191.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.94M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$251.92M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$222.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$209.76M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$196.06M	USD	Point-in-time
Deferred revenues	`ContractWithCustomerLiabilityCurrent`	$81.22M	USD	Point-in-time
Deferred revenues	`ContractWithCustomerLiabilityCurrent`	$48.35M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$531.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$480.31M	USD	Point-in-time
Long-term debt - less current portion	`LongTermDebtNoncurrent`	$992.40M	USD	Point-in-time
Long-term debt - less current portion	`LongTermDebtNoncurrent`	$1.42B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$468.45M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$517.42M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$100.79M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$72.04M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.53B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.04B	USD	Point-in-time
Contingencies and commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Contingencies and commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.10 par value per share. Authorized 120,000,000 shares, issued 65,472,000 shares	`CommonStockValue`	$6.55M	USD	Point-in-time
Common stock, $.10 par value per share. Authorized 120,000,000 shares, issued 65,472,000 shares	`CommonStockValue`	$6.55M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$810.38M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$802.96M	USD	Point-in-time
Accumulated other comprehensive income - net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-39.48M	USD	Point-in-time
Accumulated other comprehensive income - net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-32.41M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.68B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.65B	USD	Point-in-time
Treasury stock - at cost, 5,800,000 shares at March 31, 2018 and 5,783,000 at December 31, 2017	`TreasuryStockValue`	$313.22M	USD	Point-in-time
Treasury stock - at cost, 5,800,000 shares at March 31, 2018 and 5,783,000 at December 31, 2017	`TreasuryStockValue`	$316.56M	USD	Point-in-time
Total Kirby stockholders' equity	`StockholdersEquity`	$3.14B	USD	Point-in-time
Total Kirby stockholders' equity	`StockholdersEquity`	$3.11B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$3.40M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$3.37M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.11B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.14B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$5.13B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$5.71B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$491.70M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$741.69M	USD	1 Quarter
Costs of sales and operating expenses	`CostsOfSalesAndOperatingExpenses`	$553.32M	USD	1 Quarter
Costs of sales and operating expenses	`CostsOfSalesAndOperatingExpenses`	$344.80M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$76.80M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$46.14M	USD	1 Quarter
Taxes, other than on income	`TaxesExcludingIncomeAndExciseTaxes`	$6.65M	USD	1 Quarter
Taxes, other than on income	`TaxesExcludingIncomeAndExciseTaxes`	$8.54M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$48.17M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$54.22M	USD	1 Quarter
Gain on disposition of assets	`GainLossOnDispositionOfAssets`	$99.00K	USD	1 Quarter
Gain on disposition of assets	`GainLossOnDispositionOfAssets`	$1.90M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$445.66M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$690.97M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$50.72M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$46.04M	USD	1 Quarter
Other income (expense)	`NonoperatingIncomeExpense`	$-589.00K	USD	1 Quarter
Other income (expense)	`NonoperatingIncomeExpense`	$1.59M	USD	1 Quarter
Interest expense	`InterestExpense`	$9.78M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.46M	USD	1 Quarter
Earnings before taxes on income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$41.00M	USD	1 Quarter
Earnings before taxes on income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$42.53M	USD	1 Quarter
Provision for taxes on income	`IncomeTaxExpenseBenefit`	$9.87M	USD	1 Quarter
Provision for taxes on income	`IncomeTaxExpenseBenefit`	$13.35M	USD	1 Quarter
Net earnings	`ProfitLoss`	$32.67M	USD	1 Quarter
Net earnings	`ProfitLoss`	$27.64M	USD	1 Quarter
Less: Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$195.00K	USD	1 Quarter
Less: Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$162.00K	USD	1 Quarter
Net earnings attributable to Kirby	`NetIncomeLoss`	$27.48M	USD	1 Quarter
Net earnings attributable to Kirby	`NetIncomeLoss`	$32.47M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.54	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.54	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.51	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$32.67M	USD	1 Quarter
Net earnings	`ProfitLoss`	$27.64M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$48.17M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$54.22M	USD	1 Quarter
Provision (benefit) for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$8.85M	USD	1 Quarter
Provision (benefit) for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$8.56M	USD	1 Quarter
Amortization of unearned share-based compensation	`ShareBasedCompensation`	$2.69M	USD	1 Quarter
Amortization of unearned share-based compensation	`ShareBasedCompensation`	$7.55M	USD	1 Quarter
Amortization of major maintenance costs	`AmortizationOfMajorMaintenanceCosts`	$5.03M	USD	1 Quarter
Amortization of major maintenance costs	`AmortizationOfMajorMaintenanceCosts`	$4.89M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$259.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$200.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-1.04M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$1.77M	USD	1 Quarter
Decrease in cash flows resulting from changes in operating assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$87.93M	USD	1 Quarter
Decrease in cash flows resulting from changes in operating assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$8.14M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.73M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$85.20M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$40.96M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$45.77M	USD	1 Quarter
Acquisitions of businesses and marine equipment, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Acquisitions of businesses and marine equipment, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$429.98M	USD	1 Quarter
Proceeds from disposition of assets	`ProceedsFromSaleOfProductiveAssets`	$12.18M	USD	1 Quarter
Proceeds from disposition of assets	`ProceedsFromSaleOfProductiveAssets`	$7.96M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-458.76M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-37.81M	USD	1 Quarter
Payments on bank credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$-48.45M	USD	1 Quarter
Payments on bank credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$-64.41M	USD	1 Quarter
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$499.30M	USD	1 Quarter
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Payment of debt issuance cost	`PaymentsOfDebtIssuanceCosts`	$4.25M	USD	1 Quarter
Payment of debt issuance cost	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.26M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$292.00K	USD	1 Quarter
Payments related to tax withholding for share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.77M	USD	1 Quarter
Payments related to tax withholding for share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.87M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-207.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-225.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-50.27M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$426.93M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.88M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.09M	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$20.10M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.01M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.76M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$5.63M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.76M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.63M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$10.76M	USD	1 Quarter
Interest paid	`InterestPaidNet`	$8.86M	USD	1 Quarter
Income taxes paid (refunded)	`IncomeTaxesPaidNet`	$-721.00K	USD	1 Quarter
Income taxes paid (refunded)	`IncomeTaxesPaidNet`	$1.69M	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredPaidAndNotYetPaid`	$5.45M	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredPaidAndNotYetPaid`	$1.78M	USD	1 Quarter
Cash acquired in acquisition	`NoncashOrPartNoncashAcquisitionCashAcquired`	-	USD	1 Quarter
Cash acquired in acquisition	`NoncashOrPartNoncashAcquisitionCashAcquired`	$2.31M	USD	1 Quarter

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$32.67M	USD	1 Quarter
Net earnings	`ProfitLoss`	$27.64M	USD	1 Quarter
Pension and postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-430.00K	USD	1 Quarter
Pension and postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-746.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	-	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$420.00K	USD	1 Quarter
Reclassification to retained earnings of stranded tax effects from tax reform	`TaxCutsAndJobsActOf2017ChangeInTaxRateIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Reclassification to retained earnings of stranded tax effects from tax reform	`TaxCutsAndJobsActOf2017ChangeInTaxRateIncomeTaxExpenseBenefit`	$7.92M	USD	1 Quarter
Total other comprehensive income (loss), net of taxes	`OtherComprehensiveIncomeLossNetOfTax`	$-7.08M	USD	1 Quarter
Total other comprehensive income (loss), net of taxes	`OtherComprehensiveIncomeLossNetOfTax`	$746.00K	USD	1 Quarter
Total comprehensive income, net of taxes	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$28.39M	USD	1 Quarter
Total comprehensive income, net of taxes	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$25.59M	USD	1 Quarter
Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$195.00K	USD	1 Quarter
Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$162.00K	USD	1 Quarter
Comprehensive income attributable to Kirby	`ComprehensiveIncomeNetOfTax`	$25.40M	USD	1 Quarter
Comprehensive income attributable to Kirby	`ComprehensiveIncomeNetOfTax`	$28.23M	USD	1 Quarter

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