KEX Stock Cash Flow Statements

Kirby Quarterly Cash Flow Statements Chart

Quarterly

Annual

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Free Cash Flow

Capital Expenditure

Kirby Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31

cash flows from operating activities:
net earnings	94,378,000	76,270,000	69,915,000	61,962,000	63,004,000	57,318,000	40,621,000	37,325,000	39,244,000	28,606,000	17,586,000					22,415,000	27,693,000	-73,510,000	-248,190,000	2,972,000	48,150,000	47,440,000	44,457,000	37,128,000	-19,509,000	28,793,000	32,666,000	183,830,000	-24,828,000	25,972,000	27,645,000	32,353,000	39,109,000	38,484,000	57,111,000	58,376,000	61,411,000	77,213,000	75,911,000	63,011,000	69,696,000	63,792,000	57,552,000	53,731,000	48,435,000	51,879,000	56,769,000	53,594,000	42,229,000	32,900,000	31,923,000	30,905,000	29,643,000	24,911,000	29,641,000	35,448,000			38,409,000	41,778,000	40,334,000	36,647,000	34,352,000	34,430,000	30,137,000	24,422,000	23,938,000	25,600,000	23,333,000	22,580,000	19,770,000	17,285,000	18,447,000	13,279,000
adjustments to reconcile net earnings to net cash from operations:
depreciation and amortization	65,670,000	63,730,000	57,642,000	54,905,000	53,445,000	51,697,000	51,109,000	50,945,000	50,419,000	50,115,000	49,964,000	50,234,000	53,462,000	55,132,000	54,890,000	54,854,000	54,779,000	54,502,000	55,786,000	54,861,000	54,455,000	55,093,000	55,223,000	167,042,000	-51,780,000	55,492,000	54,218,000	93,941,000	-45,257,000	48,293,000	48,170,000	50,142,000	49,661,000	48,624,000	49,759,000	46,825,000	45,766,000	42,433,000	41,407,000	41,036,000	41,640,000	40,271,000	40,996,000	35,729,000	35,197,000	36,474,000	35,796,000	36,827,000	28,213,000	25,193,000	24,937,000	24,135,000	22,854,000	23,370,000	24,244,000	24,929,000	22,519,000	22,276,000	24,067,000	22,420,000	22,385,000	22,327,000	20,642,000	20,407,000	20,280,000	19,587,000	17,102,000	16,689,000	15,515,000	15,090,000		13,725,000	13,964,000	14,981,000
benefit from deferred income taxes	7,047,000	2,570,000	9,411,000		16,203,000	17,665,000	12,573,000									19,781,000					14,495,000	13,517,000	12,490,000		13,457,000	14,535,000	8,846,000	44,222,000	14,132,000	10,089,000	8,562,000	16,582,000	14,969,000	14,713,000	5,921,000	6,619,000	7,182,000	16,314,000	5,629,000	8,784,000	20,640,000	26,386,000	21,497,000	25,891,000	15,591,000	18,183,000	24,621,000	21,643,000	9,930,000	13,810,000	6,414,000	25,605,000	183,000	2,237,000	10,517,000	13,006,000	9,381,000	9,520,000		8,866,000	4,598,000	5,762,000
amortization of share-based compensation	3,300,000	7,847,000	6,408,000	2,631,000	3,398,000	3,104,000	5,808,000	2,417,000	2,893,000	2,590,000	5,965,000
amortization of major maintenance costs	7,450,000	7,185,000	8,345,000	7,916,000	7,007,000	7,051,000	6,992,000	7,354,000	7,272,000	7,292,000	7,113,000	7,024,000	9,107,000	8,722,000	8,360,000	8,357,000	7,384,000	7,370,000	7,103,000	6,667,000	6,864,000	5,457,000	4,974,000	5,160,000	5,262,000	5,445,000	4,893,000		5,294,000	4,904,000	5,034,000	4,915,000	4,687,000	4,608,000	6,800,000	5,428,000	4,932,000
other	-1,068,000	1,246,000	1,607,000	4,663,000	-4,890,000	-809,000	-2,302,000	7,325,000	-1,196,000	-2,932,000	-3,480,000	5,650,000	-1,981,000	-3,171,000	-1,138,000	-3,613,000	10,000	3,401,000	112,000		-69,000	-3,262,000	-2,544,000	-111,471,000	112,999,000	-5,000	-1,773,000	-73,989,000	77,884,000	-1,009,000	1,038,000	-429,000	-319,000	-342,000	774,000	1,194,000	-1,124,000	4,199,000	3,534,000	3,605,000	2,181,000	1,320,000	2,155,000	657,000	916,000	1,211,000	798,000	172,000	-49,000	-20,000		-79,000	-41,000	-45,000	712,000	-1,034,000	-415,000	633,000	-590,000	2,000,000	-228,000	188,000	167,000	201,000	-199,000	741,000	242,000	254,000	280,000	-82,000	-2,805,000	780,000	912,000	309,000
decrease in cash flows resulting from changes in operating assets and liabilities	-82,855,000	-122,307,000	-30,040,000		-41,889,000	75,443,000	-98,321,000											60,132,000	-175,900,000			28,617,000	-81,737,000				-87,926,000										-18,140,000			-3,378,000			-26,538,000	-9,224,000	-39,488,000	-36,285,000		-17,352,000												7,124,000				12,997,000
net cash from operating activities	93,922,000	36,541,000	123,288,000	216,001,000	96,278,000	211,469,000	16,480,000	132,943,000	65,541,000	63,422,000	32,222,000	41,214,000	82,544,000	95,260,000	102,558,000	85,177,000	117,619,000	170,643,000	71,501,000	124,214,000	199,402,000	149,668,000	38,529,000	74,695,000	118,549,000	135,021,000	18,734,000	66,275,000	65,660,000	108,593,000	85,202,000	126,626,000	98,385,000	111,482,000	131,551,000	143,353,000	102,565,000	74,157,000	136,197,000	115,211,000	181,440,000	171,479,000	97,796,000	109,626,000	63,234,000	73,368,000	96,669,000	97,501,000	54,069,000	63,756,000	75,409,000	66,798,000	46,448,000	56,591,000	82,784,000	85,543,000	70,113,000	81,445,000	62,499,000	84,622,000	37,517,000	61,309,000	79,908,000	68,253,000	40,445,000	47,140,000	47,163,000	40,667,000	31,228,000	31,306,000		41,903,000	27,772,000	36,302,000
cash flows from investing activities:
capital expenditures	-71,473,000	-78,687,000	-81,047,000	-126,767,000	-103,718,000	-98,046,000	-73,199,000	-52,343,000	-41,204,000	-43,984,000	-35,075,000	-26,047,000	-33,599,000	-24,317,000	-14,052,000	-18,814,000	-36,541,000	-43,605,000	-49,225,000	-64,096,000	-56,800,000	-66,336,000	-60,932,000	-70,109,000	-78,841,000	-111,950,000	-40,961,000	-178,730,000	-40,928,000	-46,744,000	-45,765,000	-58,257,000	-60,525,000	-50,523,000	-75,050,000	-93,619,000	-96,533,000	-70,799,000	-101,042,000	-62,257,000	-38,872,000	-97,018,000	-71,157,000	-102,041,000	-91,979,000	-61,867,000	-63,028,000	-65,237,000	-66,859,000	-31,114,000	-28,805,000	-40,399,000	-33,214,000	-34,423,000	-29,688,000	-46,364,000	-51,763,000	-64,845,000	-31,494,000	-35,014,000	-57,758,000	-48,753,000	-41,056,000	-27,455,000	-41,923,000	-53,649,000	-29,015,000	-45,728,000	-42,760,000	-21,626,000	-29,165,000	-29,555,000	-39,540,000	-24,023,000
free cash flows	22,449,000	-42,146,000	42,241,000	89,234,000	-7,440,000	113,423,000	-56,719,000	80,600,000	24,337,000	19,438,000	-2,853,000	15,167,000	48,945,000	70,943,000	88,506,000	66,363,000	81,078,000	127,038,000	22,276,000	60,118,000	142,602,000	83,332,000	-22,403,000	4,586,000	39,708,000	23,071,000	-22,227,000	-112,455,000	24,732,000	61,849,000	39,437,000	68,369,000	37,860,000	60,959,000	56,501,000	49,734,000	6,032,000	3,358,000	35,155,000	52,954,000	142,568,000	74,461,000	26,639,000	7,585,000	-28,745,000	11,501,000	33,641,000	32,264,000	-12,790,000	32,642,000	46,604,000	26,399,000	13,234,000	22,168,000	53,096,000	39,179,000	18,350,000	16,600,000	31,005,000	49,608,000	-20,241,000	12,556,000	38,852,000	40,798,000	-1,478,000	-6,509,000	18,148,000	-5,061,000	-11,532,000	9,680,000		12,348,000	-11,768,000	12,279,000
acquisitions of businesses and marine equipment	0	-97,250,000							0				0				-6,525,000	-281,825,000	-60,422,000													-4,641,000																	-271,902,000	-58,500,000
proceeds from disposition of assets	11,499,000	81,000	2,412,000		1,317,000	12,498,000	8,031,000		9,593,000	9,031,000	14,280,000		22,432,000	11,977,000	4,754,000		1,620,000	925,000	3,993,000	23,167,000	11,126,000	10,177,000	13,187,000	25,586,000	2,598,000	13,027,000	12,181,000	-10,092,000	1,777,000	20,008,000	7,958,000	11,989,000	2,850,000	297,000	2,466,000	396,000	10,240,000	4,255,000	3,521,000	363,000	17,279,000	11,250,000	1,861,000	8,514,000	3,217,000	3,434,000	7,854,000	1,787,000	421,000	1,759,000	2,224,000	1,278,000	4,326,000	1,897,000	3,769,000	2,733,000	214,000	672,000	632,000	79,000	1,225,000	42,000	2,604,000	152,000	134,000	527,000	423,000	634,000	1,557,000	463,000	794,000	-20,000	5,232,000	280,000
net cash from investing activities	-62,974,000	-175,856,000	-78,635,000	-122,532,000	-139,901,000	-85,548,000	-65,168,000	-48,342,000	-31,611,000	-34,953,000	-24,695,000	-15,513,000	-11,167,000	-19,810,000	-9,298,000	-14,242,000	-41,446,000	-324,505,000	-105,654,000	-45,880,000	-50,374,000	-61,529,000	-295,215,000	-79,443,000	-76,243,000	-168,173,000	-458,757,000	-118,528,000	-490,370,000	-26,736,000	-37,807,000	-50,909,000	-178,666,000	-50,226,000	-72,584,000	-93,223,000	-127,543,000	-73,044,000	-97,521,000	-61,894,000	-21,593,000	-87,300,000	-71,407,000	-93,527,000	-88,762,000	-58,433,000	-97,909,000	-564,628,000	-338,340,000	-87,855,000	-26,581,000	-39,121,000	-28,888,000	-32,526,000	-25,919,000	-43,631,000	-51,549,000	-64,173,000	-30,906,000	-35,237,000	-59,867,000	-50,511,000	-43,872,000	-39,676,000	-43,871,000	-100,484,000	-33,078,000	-75,290,000	-141,239,000	-37,669,000		-30,527,000	-41,308,000	-23,581,000
cash flows from financing activities:
borrowings on bank credit facilities	19,097,000	224,110,000	43,575,000		69,161,000	-81,536,000	112,691,000																																					-4,560,000				-36,390,000																-50,150,000	24,200,000	49,200,000
payment of debt issuance costs			-3,000		-1,000	0	-1,236,000
proceeds from exercise of stock options	0	262,000	1,509,000	778,000	3,313,000	0	118,000	2,000	0	1,549,000	2,336,000	0	124,000	94,000	411,000	0	0	0	353,000	2,180,000	1,660,000	488,000	1,415,000	0	277,000	12,695,000	292,000	6,856,000	238,000	580,000	1,258,000	0			0	3,337,000	375,000	135,000	2,944,000	4,331,000	1,755,000	311,000	2,262,000	1,923,000	249,000	1,001,000	4,018,000	0	214,000	135,000	1,060,000	153,000	3,374,000	297,000	718,000	524,000	779,000	753,000	4,201,000	0	6,542,000	2,145,000	1,012,000	1,947,000	1,097,000	1,662,000	1,080,000	1,109,000	3,830,000	7,169,000	13,716,000	2,006,000	705,000	2,627,000
payments related to tax withholding for share-based compensation	-8,000	-5,949,000	-5,284,000	-310,000	-3,000	-40,000	-3,555,000	-215,000	-1,000	-99,000	-3,093,000	0	-3,000	-808,000	-2,045,000	0	-2,000	-26,000	-3,165,000	0	-8,000	-20,000	-2,003,000	-1,000	-8,000	-1,047,000	-3,766,000		-25,000	-1,000	-2,873,000
treasury stock purchases	-31,200,000	-101,473,000	-41,787,000	-51,893,000	-23,310,000	-34,416,000	-3,184,000	0	-4,816,000
net cash from financing activities	-13,643,000	115,949,000	-2,014,000	-103,008,000	49,136,000	-116,017,000	-5,190,000	-41,015,000	-22,043,000	-35,763,000	-9,942,000	-45,265,000	-70,052,000	-74,731,000	-121,265,000	-110,183,000	-65,058,000	-60,238,000	331,987,000	-63,022,000	-162,124,000	-72,907,000	256,175,000	8,931,000	-42,887,000	30,340,000	426,931,000	47,871,000	427,959,000	-83,036,000	-50,273,000	-73,195,000	81,423,000	-65,424,000	-61,441,000	-49,632,000	5,170,000	-363,000	-54,986,000	-38,095,000	-158,628,000	-82,754,000	-33,610,000	-16,761,000	26,288,000	-26,139,000	9,124,000	468,160,000	119,510,000	592,000	-2,432,000	-19,224,000	1,827,000	-537,000	1,209,000	-10,628,000	-16,126,000	-19,879,000	-24,882,000	-53,571,000	24,783,000	-12,226,000	-34,849,000	-48,095,000	24,105,000	53,460,000	-15,550,000	37,463,000	88,118,000	11,696,000		-10,095,000	13,040,000	-11,069,000
increase in cash and cash equivalents	17,305,000	-23,366,000	42,639,000	-9,539,000				43,586,000				-19,564,000	1,325,000	719,000	-28,005,000	-39,248,000	11,115,000	-214,100,000	297,834,000	15,312,000	-13,096,000																-19,808,000			15,222,000							7,884,000	1,033,000	-164,761,000	-23,507,000	46,396,000	8,453,000	19,387,000	23,528,000	58,074,000	31,284,000			6,711,000	-4,186,000	2,433,000	-1,428,000	1,187,000	-19,518,000	20,679,000	116,000	-1,465,000	2,840,000	-21,893,000	5,333,000		1,281,000	-496,000	1,652,000
cash and cash equivalents, beginning of year	0	74,444,000	32,577,000	0	0	0	80,577,000	0	0	0	34,813,000	0	0	0	80,338,000	0	0	0	24,737,000	0	0	0	7,800,000	0	0	0	20,102,000	10,615,000	0	0	5,634,000	0	0	5,885,000	0	0	24,299,000	0	0	4,022,000	0	0	11,059,000	0	0	16,249,000	0	0	0	195,600,000	0	0	0	97,836,000	0	0	0	8,647,000	0	0	0	5,117,000	0	0	0	2,653,000	0	0	0	17,838,000	0	0	0	629,000
cash and cash equivalents, end of period	17,305,000	51,078,000	75,216,000		5,513,000	9,904,000	26,699,000		11,887,000	-7,294,000	32,398,000		1,325,000	719,000	52,333,000		11,115,000	-214,100,000	322,571,000		-13,096,000	15,232,000	7,289,000		-581,000	-2,812,000	7,010,000		3,249,000	-1,179,000	2,756,000	2,522,000	1,142,000	1,717,000	-2,474,000	498,000	4,491,000	750,000	-16,310,000	19,244,000	1,219,000	1,425,000	3,838,000	-662,000	760,000	5,045,000		1,033,000	-164,761,000	172,093,000		8,453,000	19,387,000	121,364,000		31,284,000	2,438,000	6,040,000		-4,186,000	2,433,000	3,689,000		-19,518,000	20,679,000	2,769,000		2,840,000	-21,893,000	23,171,000		1,281,000	-496,000	2,281,000
supplemental disclosures of cash flow information:
cash paid during the period:
interest paid	5,206,000	17,711,000	21,511,000	4,041,000	20,723,000	4,260,000	20,293,000	3,062,000	19,593,000	2,139,000	18,022,000	1,744,000	18,221,000	2,181,000	18,732,000	2,945,000	19,511,000	4,531,000	21,734,000	3,330,000	23,165,000	6,014,000	23,257,000	3,597,000	23,090,000	3,322,000	10,763,000		8,666,000	868,000	8,856,000	9,107,000	1,080,000	8,743,000
income taxes paid	54,748,000	24,994,000	1,062,000													928,000	1,205,000			-229,000	763,000					589,000	-721,000		3,114,000	14,588,000	1,686,000	382,000	14,931,000	-412,000
operating cash outflow from operating leases	12,792,000	11,749,000	11,256,000	10,688,000	10,497,000	12,318,000	10,451,000	10,817,000	11,125,000	11,247,000	11,040,000	10,514,000	11,579,000	11,308,000	10,688,000	11,132,000	11,184,000	11,585,000	9,738,000	9,952,000	9,638,000	9,644,000	10,142,000
non-cash investing activity:
capital expenditures included in accounts payable	11,601,000	-12,011,000	1,590,000	11,872,000	2,759,000	3,133,000	-8,197,000	11,504,000	-4,853,000	-3,168,000	-487,000	32,182,000	4,852,000	-11,194,000	-7,207,000	-24,721,000	6,505,000	7,643,000	-2,707,000	7,465,000	1,033,000	10,399,000	-5,022,000	-10,887,000	10,944,000	-11,050,000	-5,448,000		2,628,000	8,067,000	-1,778,000	7,473,000	-8,782,000	-987,000
right-of-use assets obtained in exchange for lease obligations	8,188,000	5,516,000	5,088,000	6,501,000	11,814,000	10,070,000	10,768,000	8,470,000	4,039,000	3,826,000	6,464,000	15,725,000	10,704,000	1,194,000	6,219,000	4,041,000	3,716,000	34,077,000	4,677,000	11,459,000	7,199,000	1,245,000	1,292,000
benefit from doubtful accounts
gain on disposition of assets																								-1,950,000																																							-148,000	-30,000			-239,000	-255,000				24,000
impairments
increase in cash flows resulting from changes in:
accounts receivable																								-15,016,000				-106,635,000																							165,000	-5,526,000	2,323,000	-14,525,000	4,360,000	10,376,000	9,278,000	35,069,000
inventory
other assets																								-87,438,000				-299,445,000
income taxes payable																								-4,222,000				-5,781,000
accounts payable																								-228,059,000				-224,593,000
accrued and other liabilities
acquisitions of businesses and marine equipment, net of cash acquired																				-4,951,000	-4,700,000	-5,370,000	-247,470,000	-34,670,000	0	-69,250,000	-429,977,000	70,294,000																			-42,745,000																-5,419,000	-12,374,000
proceeds from disposition of assets and other
borrowings (payments) on bank credit facilities								-20,306,000	19,392,000	1,109,000	1,163,000	-48,000	-54,434,000	-74,017,000	-119,606,000	-110,115,000	-64,852,000	-60,010,000	485,001,000					9,937,000					429,036,000					-62,886,000		88,121,000	102,200,000				-30,310,000
borrowings on long-term debt				0	0	0	240,000,000	60,000,000												0	0	0	500,000,000			0	499,295,000														0	0	225,000,000				1,000
payments on long-term debt				0	0	0	-350,000,000	-80,000,000	-285,000,000	-20,000,000	-10,000,000	-45,000,000				0	0	0	-150,000,000	-65,000,000								-37,940,000							0			-42,000,000			-130,000,000	-13,000,000	-213,000,000	-13,002,000	-6,501,000	-6,502,000	-6,567,000	-26,501,000	-50,000	-10,000	-17,000	-40,000	-34,000	-14,000	-159,000	-13,000	-888,000	-27,000	-36,000	-20,000			-772,000	-40,000			-24,000	-25,000	-24,000	-23,000	-1,000	-1,000	-1,301,000	-1,000
payment of debt issue costs																										-12,000	-4,251,000
return of investment to noncontrolling interests and other
cash and cash equivalents, end of year
cash paid (received) during the period:
income taxes paid (refunded)				1,331,000	803,000	-68,615,000	694,000	456,000	907,000
provision (credit) for doubtful accounts
benefit for deferred income taxes								11,796,000			5,856,000	12,029,000	-60,828,000	4,913,000	-533,000			-12,506,000	-6,082,000
impairments and other charges												0				0	0	127,933,000	433,341,000
return of investment to noncontrolling interest and other					-24,000	-25,000	-24,000		-80,000	-237,000	-348,000
acquisitions of businesses											-3,900,000
decrease in cash and cash equivalents						9,904,000	-53,878,000			-7,294,000	-2,415,000												-511,000		-581,000	-2,812,000	-13,092,000		3,249,000	-1,179,000	-2,878,000	2,522,000	1,142,000	-4,168,000	-2,474,000			750,000			1,219,000	1,425,000	-7,221,000	-662,000	760,000	-11,204,000												-2,607,000
increase in cash flows resulting from changes in operating assets and liabilities									-43,742,000	-31,728,000	-50,782,000		3,578,000	15,886,000	38,377,000														-37,177,000	16,725,000	-8,140,000	19,568,000	-12,884,000	2,611,000	8,059,000			-69,553,000			43,423,000									-10,087,000												-5,773,000				127,000		-752,000	-8,707,000	-7,266,000		9,398,000	-4,629,000	6,904,000
income taxes refunded											-24,000		441,000	1,208,000	-117,659,000				-160,000				-1,024,000
amortization of unearned share-based compensation												2,920,000	3,645,000	3,426,000	5,722,000	2,656,000	3,414,000	3,321,000	5,331,000	2,533,000	3,172,000	3,007,000	4,900,000	2,455,000	3,098,000	6,000,000	7,551,000	805,000	3,067,000	3,231,000	2,693,000	3,296,000	2,961,000	2,584,000	3,127,000	2,713,000	2,538,000	3,551,000	3,120,000	2,153,000	3,860,000	2,927,000	2,134,000	2,842,000	2,583,000	1,906,000
net income															-3,120,000
adjustments to reconcile net income to net cash from operations:
return of investment to noncontrolling interest													-739,000	0	-25,000
return of investment to noncontrolling interests
purchase of treasury stock																																0	0	-1,827,000	-63,304,000	-40,840,000	-98,011,000														-3,209,000	-18,887,000							-7,476,000	-22,726,000	0	-3,175,000					0
cash acquired in acquisition																								0	0	0	2,313,000																				0
payments of debt issue costs																					0	-165,000	-2,232,000
equity in earnings of affiliates, net of distributions and contributions
impairment and other charges
amortization of leases																				-80,000	-256,000	-600,000	446,000
amortization of debt issuance costs																				490,000	493,000	399,000	320,000	320,000	320,000	319,000	259,000		198,000	388,000	200,000	199,000	201,000	200,000
acquisitions of noncontrolling interest
stock issued in acquisition																																															0
debt assumed in acquisition																																																																			0	0
payments on bank credit facilities																					-103,572,000	-73,004,000	-240,801,000			18,929,000	-64,414,000				-48,451,000								7,300,000	-41,150,000			-43,650,000			-22,510,000									0			-21,000,000																-13,600,000
impairment of long-lived assets
impairment of goodwill
borrowings (payments) on long-term debt																								0																																						-26,000				978,000
fair value of property transferred in acquisition																																0
current assets:
cash and cash equivalents																												-4,810,000
accounts receivable:
trade – less allowance for doubtful accounts
inventories – net
prepaid expenses and other current assets
total current assets
property and equipment
less accumulated depreciation
property and equipment – net
goodwill
other intangibles – net
total assets
current liabilities:
bank notes payable
accrued liabilities
deferred revenues
total current liabilities
long-term debt – less current portion
deferred income taxes																																																																-1,567,000	1,216,000	1,041,000		-2,891,000	-64,000	20,000		1,386,000	-352,000	-364,000
other long-term liabilities
total long-term liabilities
contingencies and commitments
equity:
kirby stockholders’ equity:
common stock, .10 par value per share. authorized 120,000,000 shares, issued 65,472,000 shares
additional paid-in capital
accumulated other comprehensive income – net
retained earnings
treasury stock – at cost, 5,595,000 shares at september 30, 2018 and 5,783,000 at december 31, 2017
total kirby stockholders’ equity
noncontrolling interests
total equity
total liabilities and equity
revenues:
marine transportation																												1,090,083,000
distribution and services
total revenues																												1,571,384,000
costs and expenses:
costs of sales and operating expenses																												1,031,322,000
selling, general and administrative																												126,794,000
taxes, other than on income																												8,001,000
total costs and expenses																												1,259,913,000
operating income																												311,471,000
other income																												-85,000
interest expense																												-18,997,000
earnings before taxes on income																												292,665,000
benefit from taxes on income																												-108,835,000
less: net earnings attributable to noncontrolling interests																												-2,999,000
net earnings attributable to kirby																												180,831,000																														28,006,000
net earnings per share attributable to kirby common stockholders:
basic																												3,230
diluted																												3,210
other comprehensive income, net of taxes:
pension and postretirement benefits																												-10,777,000
foreign currency translation adjustments																												266,000
reclassification to retained earnings of stranded tax effects from tax reform
total other comprehensive income, net of taxes
total comprehensive income, net of taxes																												178,536,000
net earnings attributable to noncontrolling interests																												-2,999,000
comprehensive income attributable to kirby																												175,537,000
income taxes																																			23,592,000	45,220,000	140,000	26,351,000	58,067,000	565,000	5,031,000	18,146,000	-177,000	10,179,000	18,425,000	749,000	15,770,000	12,088,000	6,821,000	247,000	490,000	15,448,000	33,809,000	996,000	4,315,000	9,856,000	16,716,000	118,000	2,279,000	24,101,000	36,754,000	2,046,000	20,449,000	13,472,000	29,283,000	137,000	12,032,000	16,878,000	23,229,000	2,933,000		9,637,000	17,959,000	166,000
basis for preparation of the condensed financial statements
accounting standards adoptions
statements of earnings:
distribution and services revenues
statements of comprehensive income:
statements of cash flows:
balance sheets:
trade receivables
revenues
marine transportation segment:
inland transportation
coastal transportation
distribution and services segment:
oil and gas
commercial and industrial
acquisitions
assets:
cash
liabilities:
total liabilities
net assets acquired
inventories
finished goods																												-117,534,000
work in process																												-28,472,000
fair value measurements
long-term debt
stock award plans
compensation cost																												6,161,000
income tax benefit																												2,300,000
outstanding at december 31, 2017
granted																												-123,018,400
exercised																												21,163,360
forfeited																												17,054,000
outstanding at september 30, 2018
range of exercise prices
51.23
64.65 - 68.50
70.65 - 75.50
93.64 - 101.46
51.23 - 101.46
nonvested balance at december 31, 2017
vested																												105,469,340
nonvested balance at september 30, 2018
29.60
41.24 – 56.45
61.89 – 62.48
70.65 – 99.52
29.60 – 99.52
dividend yield
average risk-free interest rate																												400
stock price volatility																												6,000
estimated option term
other comprehensive income
amortization of net actuarial loss
foreign currency translation
total
actuarial gains
adoption of asu 2018-02 – reclassification to retained earnings
segment data
segment profit
total assets:
general corporate expenses
general corporate assets
investment in affiliates
taxes on income
earnings before taxes on income:
united states
foreign
benefit from taxes on income:
federal:
current																												30,023,000
deferred																												51,319,000
state and local:
foreign - current
earnings per share
undistributed earnings allocated to restricted shares
income available to kirby common stockholders - basic
undistributed earnings reallocated to restricted shares
income available to kirby common stockholders - diluted
shares outstanding:
weighted-average common stock issued and outstanding
weighted-average unvested restricted stock
weighted-average common stock outstanding - basic
dilutive effect of stock options and restricted stock units
weighted-average common stock outstanding - diluted
retirement plans
components of net periodic benefit cost:
service cost																												5,561,000
interest cost																												6,373,000
expected return on plan assets
amortization of actuarial loss
net periodic benefit cost																												-1,361,000
amortization of actuarial gain
contingencies
item 2.
weighted-average number of common stock - diluted
marine transportation revenues
operating margins
markets serviced
petrochemicals
black oil
refined petroleum products
agricultural chemicals
current assets
other intangibles
liabilities and stockholders’ equity:
current liabilities
item 3.
item 4.
item 1.
item 1a.
item 6.
31.1
31.2
32
101.ins*
101.sch*
101.cal*
101.def*
101.lab*
101.pre*
*
kirby corporation
by:
diesel engine services
loss on disposition of assets
equity in earnings of affiliates
change in fair value of derivative instruments
total comprehensive loss, net of taxes
retirement of interest rate swaps assumed in acquisition																																															0
proceeds from noncontrolling interest investments
excess tax benefit from equity compensation plans																																			-49,000	49,000	1,015,000	-19,000	1,502,000	4,653,000	571,000	387,000	1,866,000	-33,000	38,000	2,337,000	559,000	-32,000									-577,000	883,000	316,000	-852,000	2,791,000	3,260,000
cash paid during the year:
interest																																			8,926,000	1,360,000	9,190,000	8,415,000	1,003,000	8,957,000	11,909,000	2,592,000	5,420,000	5,309,000	5,277,000	5,342,000	5,131,000	5,455,000	3,194,000	2,675,000	2,656,000	2,767,000	2,620,000	2,561,000	2,687,000	2,717,000	2,681,000	2,814,000	3,381,000	3,305,000	3,383,000	3,933,000	4,557,000	5,396,000	5,215,000	5,003,000	4,882,000	4,163,000	2,884,000	3,225,000		2,800,000	3,229,000	2,999,000
noncash investing activity:
stock issued in acquisitions
cash acquired in acquisitions																																																															0	0			0	-77,000
disposition of assets for receivables
common stock:
balance at beginning of year
issuance of shares in acquisitions
balance at end of year
additional paid-in capital:
excess of proceeds received upon exercise of stock options and issuance of restricted stock over cost of treasury stock issued
tax benefit realized from equity compensation plans
issuance of restricted stock, net of forfeitures
amortization of unearned compensation																																																2,617,000	2,530,000	1,960,000		2,291,000	2,073,000	4,669,000	3,430,000	2,406,000	2,179,000	1,840,000	2,025,000	2,434,000	2,641,000	2,158,000	1,520,000	1,838,000	1,665,000	1,320,000	1,376,000	2,110,000	1,900,000	1,430,000
accumulated other comprehensive income:
other comprehensive loss, net of taxes
retained earnings:
net earnings attributable to kirby for the year
treasury stock:
cost of treasury stock issued upon exercise of stock options and issuance of restricted stock
noncontrolling interests:
acquisition of noncontrolling interests																													0
balance at the end of year
december 31, 2012:
derivatives
contingent liabilities
december 31, 2011:
contingent liability
notional amount
100,000
50,000
liability derivatives
derivatives designated as hedging instruments under asc 815:
foreign currency contracts
interest rate contracts
total derivatives designated as hedging instruments under asc 815
total liability derivatives
derivatives in asc 815 cash
flow hedging relationships:
foreign exchange contracts
long-term debt, including current portion:
150,000,000 senior notes series a due february 27, 2020
350,000,000 senior notes series b due february 27, 2023
540,000,000 term loan due may 31, 2016
325,000,000 revolving credit facility due november 9, 2015
10,000,000 credit line due june 30, 2013
senior notes due february 28, 2013
other long-term debt
2013
2014
2015
2016
2017
thereafter
earnings before taxes on income — united states
state and local																												8,841,000
united states income tax statutory rate
state and local taxes, net of federal benefit
other – net
current deferred tax assets:
compensated absences
allowance for doubtful accounts
insurance accruals
non-current deferred tax assets and liabilities:
deferred tax assets:
postretirement health care benefits
deferred compensation
unrealized loss on derivative financial instruments
unrealized loss on defined benefit plans
operating income carryforwards
deferred tax liabilities:
property
deferred state taxes
pension benefits
goodwill and other intangibles
additions based on tax positions related to the current year
additions for tax positions of prior years
reductions for tax positions of prior years
settlements
rental expense:
marine equipment — barges
marine equipment — towing vessels
other buildings and equipment
rental expense
outstanding at december 31, 2009
canceled or expired
outstanding at december 31, 2010
outstanding at december 31, 2011
outstanding at december 31, 2012
23.98 — 32.56
34.40 — 36.35
46.74
65.28 — 66.72
23.98 — 66.72
nonvested balance at december 31, 2009
nonvested balance at december 31, 2010
nonvested balance at december 31, 2011
nonvested balance at december 31, 2012
12.69 — 17.88
20.28 — 29.60
35.17 — 36.82
41.24 — 56.45
61.89 — 62.48
12.69 — 62.48
asset category
u.s. equity securities
international equity securities
debt securities
change in benefit obligation
benefit obligation at beginning of year
actuarial gain
gross benefits paid
benefit obligation at end of year
accumulated benefit obligation at end of year
weighted-average assumption used to determine benefit obligation at end of year
discount rate
rate of compensation increase
health care cost trend rate
initial rate
ultimate rate
years to ultimate
effect of one-percentage-point change in assumed health care cost trend rate on postretirement obligation
increase
decrease
change in plan assets
fair value of plan assets at beginning of year
actual return on plan assets
employer contribution
fair value of plan assets at end of year
funded status at end of year
fair value of plan assets
benefit obligations
funded status and amount recognized at end of year
amounts recognized in the consolidated balance sheets
current liability
long-term liability
amounts recognized in accumulated other comprehensive income
net actuarial gain
prior service cost
accumulated other compensation income
projected benefit obligation in excess of plan assets
projected benefit obligation at end of year
accumulated benefit obligation in excess of plan assets
expected employer contributions
first year
expected benefit payments
year one
year two
year three
year four
year five
next five years
expected federal subsidy
components of net periodic benefit cost
amortization:
actuarial loss
prior service credit
other changes in plan assets and benefit obligations recognized in other comprehensive income
current year actuarial loss
recognition of actuarial loss
recognition of prior service credit
total recognized in other comprehensive income
total recognized in net periodic benefit cost and other comprehensive income
weighted-average assumptions used to determine net periodic benefit cost
expected long-term rate of return on plan assets
curtailment loss
other changes in benefit obligations recognized in other comprehensive income
current year actuarial gain
recognition of actuarial gain
recognition of prior service cost
adjustment for actual medicare part d reimbursement
health care cost trend rate:
effect of one-percentage-point change in assumed health care cost trend rate on aggregate service and interest cost
pension and post-retirement benefits
income available to kirby common stockholders — basic
income available to kirby common stockholders — diluted
weighted-average common stock outstanding — basic
dilutive effect of stock options
weighted-average common stock outstanding — diluted
costs and expenses
depreciation and amortization:
capital expenditures:
item 15.
exhibit number
2.1
2.2
2.3
2.4
3.1
3.2
4.1
4.2
10.1
10.2
10.3
10.4
10.5
10.6†
10.7†
10.8†*
10.9†
10.10†
10.11†
10.12†
10.13†
10.14†
21.1*
23.1*
31.1*
31.2*
32*
101.ins**
101.sch**
101.cal**
101.def**
101.lab**
101.pre**
**
†
signature
/s/ joseph h. pyne
joseph h. pyne
/s/ david w. grzebinski
david w. grzebinski
/s/ ronald a. dragg
ronald a. dragg
/s/ richard j. alario
richard j. alario
/s/ c. sean day
c. sean day
/s/ bob g. gower
bob g. gower
/s/ william m. lamont, jr.
william m. lamont, jr.
/s/ david l. lemmon
david l. lemmon
/s/ monte j. miller
monte j. miller
/s/ george a. peterkin, jr.
george a. peterkin, jr.
/s/ richard r. stewart
richard r. stewart
/s/ william m. waterman
william m. waterman
current portion of long-term debt
treasury stock – at cost, 5,784,000 shares at september 30, 2017 and 5,921,000 at december 31, 2016
cash consideration paid
stock consideration through issuance of company common stock
fair value of consideration transferred
outstanding at december 31, 2016
outstanding at september 30, 2017
46.74 - 51.23
64.65 - 74.99
93.64 - 96.85
101.46 - 104.37
46.74 - 104.37
nonvested balance at december 31, 2016
nonvested balance at september 30, 2017
actuarial losses
earnings before taxes on income – united states
subsequent event
land-based
marine
power generation
10.1†*
dated: november 8, 2017
acquisition of noncontrolling interest																																0
acquisition of marine equipment																																				0	-41,250,000
acquisitions of marine equipment
payment of contingent liability																																						0	0	-4,756,000	0	0	-5,000,000
acquisition of businesses and marine equipment																																									0	-1,532,000	-2,111,000
excess tax benefit (expense) from equity compensation plans																																																		777,000				-122,000
increase in cash flows resulting from changes in operating assets and liabilities:
equity in earnings of affiliates, net of distributions
adjustments to reconcile net earnings to net cash from operating activities:
acquisition of business and marine equipment
adjustments to reconcile net earnings attributable to kirby to net cash from operations:
provision (credit) for deferred income taxes
equity in earnings of marine affiliates, net of distributions																																																															-40,000	-23,000						-466,000		-695,000	273,000	1,193,000
return of investment to minority interests
proceeds from minority interest investment
disposition of assets for note receivables																																																																			425,000	0
debt assumed in acquisitions																																																															0
acquisitions of business and marine equipment, net of cash acquired																																																												-302,000	-3,334,000	-1,800,000				-47,317,000		-22,652,000	-101,268,000	-15,505,000
borrowings (payments ) on bank credit facilities
accrued payable for working capital adjustment related to acquisition																																																																						735,000
borrowings (payment) on bank credit facilities																																																														-14,150,000
cash assumed in acquisition
loss on debt retirement																																																																								0
proceeds from senior notes																																																																							0	0
payments on senior notes																																																																							0	0
tax benefit from equity compensation plans																																																																481,000	30,000	1,911,000	216,000	-246,000	2,173,000	3,377,000
accrued payable for working capital adjustment related to acquisitions																																																																		264,000
equity in earnings of marine affiliates																																																																		-98,000
cash paid (received) during the year:
noncash investing and financing activity:
notes payable issued in acquisition
equity in (earnings) loss of marine affiliates, net of distributions																																																																				-88,000
proceeds from (payments on) bank credit facilities
proceeds from bank credit facilities
disposition of asset for note receivable																																																																								0
proceeds from (payments on) senior notes

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