Kirby (KEX) 10-Q 4 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	9 Months Ended
	Sep. 30, 2022	Nov. 03, 2022
Cover [Abstract]
Entity Registrant Name	KIRBY CORPORATION
Entity Central Index Key	0000056047
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	1-7615
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	74-1884980
Entity Address, Address Line One	55 Waugh Drive
Entity Address, Address Line Two	Suite 1000
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77007
City Area Code	713
Local Phone Number	435-1000
Title of 12(b) Security	Common Stock
Trading Symbol	KEX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		59.9

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets, Current [Abstract]
Cash and cash equivalents	$ 36,991	$ 34,813
Accounts receivable:
Trade - less allowance for doubtful accounts	482,744	417,958
Other	133,278	149,964
Inventories - net	392,470	331,350
Prepaid expense and other current assets	80,899	69,780
Total current assets	1,126,382	1,003,865
Property and equipment	5,434,740	5,392,851
Accumulated depreciation	(1,794,050)	(1,714,336)
Property and equipment - net	3,640,690	3,678,515
Operating lease right-of-use assets	153,723	167,730
Goodwill	438,748	438,748
Other intangibles, net	53,615	60,070
Other assets	43,140	50,135
Total assets	5,456,298	5,399,063
Current liabilities:
Bank notes payable	3,599	1,934
Accounts payable	241,623	199,088
Accrued liabilities	209,724	236,078
Current portion of operating lease liabilities	33,495	33,902
Deferred revenues	82,120	72,770
Total current liabilities	570,561	543,772
Long-term debt, net - less current portion	1,114,860	1,161,433
Deferred income taxes	604,596	574,152
Operating lease liabilities - less current portion	144,201	159,672
Other long-term liabilities	46,717	71,252
Total long-term liabilities	1,910,374	1,966,509
Contingencies and commitments	0	0
Kirby stockholders' equity:
Common stock, $0.10 par value per share. Authorized 120 million shares, issued 65.5 million shares	6,547	6,547
Additional Paid in Capital	857,674	854,512
Accumulated other comprehensive income - net	(13,455)	(25,966)
Retained earnings	2,431,421	2,346,439
Treasury stock - at cost, 5.5 million shares at September 30, 2022 and 5.4 million at December 31, 2021	(309,130)	(295,208)
Total Kirby stockholders' equity	2,973,057	2,886,324
Noncontrolling interests	2,306	2,458
Total equity	2,975,363	2,888,782
Total liabilities and equity	$ 5,456,298	$ 5,399,063

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Sep. 30, 2022	Dec. 31, 2021
Kirby stockholders' equity:
Common stock, par value per share (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	120	120
Common stock, shares issued (in shares)	65.5	65.5
Treasury stock, shares (in shares)	5.6	5.4

CONDENSED STATEMENTS OF EARNING

CONDENSED STATEMENTS OF EARNINGS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Total revenues	$ 745,843	$ 598,920	$ 2,054,589	$ 1,655,394
Costs and expenses:
Costs of sales and operating expenses	552,392	446,519	1,526,872	1,219,038
Selling, general and administrative	75,381	66,065	221,721	198,434
Taxes, other than on income	9,121	9,917	28,332	28,541
Depreciation and amortization	50,419	53,462	150,498	163,484
Impairments	0	340,713	0	340,713
Gain on disposition of assets	(377)	(830)	(7,971)	(5,082)
Total costs and expenses	686,936	915,846	1,919,452	1,945,128
Operating income (loss)	58,907	(316,926)	135,137	(289,734)
Other income	3,805	1,832	11,853	8,146
Interest expense	(11,755)	(10,500)	(32,598)	(32,172)
Earnings (loss) before taxes on income	50,957	(325,594)	114,392	(313,760)
(Provision) benefit for taxes on income	(11,713)	60,442	(28,956)	55,840
Net earnings (loss)	39,244	(265,152)	85,436	(257,920)
Net (earnings) loss attributable to noncontrolling interests	(153)	422	(454)	5
Net earnings (loss) attributable to Kirby	$ 39,091	$ (264,730)	$ 84,982	$ (257,915)
Net earnings loss per share attributable to Kirby common stockholders:
Basic	$ 0.65	$ (4.41)	$ 1.41	$ (4.30)
Diluted	$ 0.65	$ (4.41)	$ 1.41	$ (4.30)
Marine Transportation [Member]
Revenues:
Total revenues	$ 433,040	$ 338,514	$ 1,194,231	$ 972,352
Distribution and Services [Member]
Revenues:
Total revenues	$ 312,803	$ 260,406	$ 860,358	$ 683,042

CONDENSED STATEMENTS OF COMPREH

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 39,244	$ (265,152)	$ 85,436	$ (257,920)
Other comprehensive income, net of taxes:
Pension and postretirement benefits	9,110	3,142	13,254	7,494
Foreign currency translation adjustments	(608)	(122)	(743)	(705)
Total other comprehensive income, net of taxes	8,502	3,020	12,511	6,789
Total comprehensive income (loss), net of taxes	47,746	(262,132)	97,947	(251,131)
Net (earnings) loss attributable to noncontrolling interests	(153)	422	(454)	5
Comprehensive income (loss) attributable to Kirby	$ 47,593	$ (261,710)	$ 97,493	$ (251,126)

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net earnings (loss)	$ 85,436	$ (257,920)
Adjustments to reconcile net earnings (loss) to net cash provided by operations:
Depreciation and amortization	150,498	163,484
Provision (benefit) for deferred income taxes	25,986	(56,448)
Impairments	0	340,713
Amortization of share-based compensation	11,448	12,793
Amortization of major maintenance costs	21,677	26,189
Other	(7,608)	(6,290)
Increase (decrease) in cash flows resulting from changes in operating assets and liabilities, net	(126,252)	57,841
Net cash provided by operating activities	161,185	280,362
Cash flows from investing activities:
Capital expenditures	(120,263)	(71,968)
Acquisitions of businesses and marine equipment	(3,900)	(7,470)
Proceeds from disposition of assets	32,904	39,163
Net cash used in investing activities	(91,259)	(40,275)
Cash flows from financing activities:
Borrowings (payments) on bank credit facilities, net	21,664	(248,057)
Borrowings on long-term debt	250,000	0
Payments on long-term debt	(315,000)	(15,000)
Payment of debt issuance costs	(1,538)	0
Proceeds from exercise of stock options	3,885	629
Payments related to tax withholding for share-based compensation	(3,193)	(2,856)
Treasury stock purchases	(22,901)	0
Return of investment to noncontrolling interest and other	(665)	(764)
Net cash used in financing activities	(67,748)	(266,048)
Increase (decrease) in cash and cash equivalents	2,178	(25,961)
Cash and cash equivalents, beginning of year	34,813	80,338
Cash and cash equivalents, end of period	36,991	54,377
Cash paid (received) during the period:
Interest paid	39,754	39,134
Income taxes refunded, net	2,097	(116,010)
Operating cash outflow from operating leases	33,412	33,575
Non-cash investing activity:
Capital expenditures included in accounts payable	(8,508)	(13,549)
Right-of-use assets obtained in exchange for lease obligations	$ 14,329	$ 18,117

CONDENSED STATEMENTS OF STOCKHO

CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Noncontrolling Interests [Member]
Beginning balance at Dec. 31, 2020	$ 3,087,553	$ 6,547	$ 844,979	$ (61,452)	$ 2,593,393	$ (299,161)	$ 3,247
Beginning balance (in shares) at Dec. 31, 2020		65,472,000				(5,434,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises	629		21			$ 608
Stock option exercises (in shares)						12,000
Issuance of stock for equity awards, net of forfeitures			(6,206)			$ 6,206
Issuance of stock for equity awards, net of forfeitures (in shares)						113,000
Tax withholdings on equity award vesting	(2,856)					$ (2,856)
Tax withholdings on equity award vesting (in shares)						(52,000)
Amortization of share-based compensation	12,793		12,793
Total comprehensive income (loss), net of taxes	(251,131)			6,789	(257,915)		(5)
Return of investment to noncontrolling interests	(764)						(764)
Ending balance at Sep. 30, 2021	2,846,224	$ 6,547	851,587	(54,663)	2,335,478	$ (295,203)	2,478
Ending balance (in shares) at Sep. 30, 2021		65,472,000				(5,361,000)
Beginning balance at Jun. 30, 2021	3,105,329	$ 6,547	848,081	(57,683)	2,600,208	$ (295,463)	3,639
Beginning balance (in shares) at Jun. 30, 2021		65,472,000				(5,366,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises	124		(9)			$ 133
Stock option exercises (in shares)						2,000
Issuance of stock for equity awards, net of forfeitures			(130)			$ 130
Issuance of stock for equity awards, net of forfeitures (in shares)						3,000
Tax withholdings on equity award vesting	(3)					$ (3)
Amortization of share-based compensation	3,645		3,645
Total comprehensive income (loss), net of taxes	(262,132)			3,020	(264,730)		(422)
Return of investment to noncontrolling interests	(739)						(739)
Ending balance at Sep. 30, 2021	2,846,224	$ 6,547	851,587	(54,663)	2,335,478	$ (295,203)	2,478
Ending balance (in shares) at Sep. 30, 2021		65,472,000				(5,361,000)
Beginning balance at Dec. 31, 2021	2,888,782	$ 6,547	854,512	(25,966)	2,346,439	$ (295,208)	2,458
Beginning balance (in shares) at Dec. 31, 2021		65,472,000				(5,361,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises	3,885		691			$ 3,194
Stock option exercises (in shares)						58,000
Issuance of stock for equity awards, net of forfeitures			(8,977)			$ 8,977
Issuance of stock for equity awards, net of forfeitures (in shares)						162,000
Tax withholdings on equity award vesting	(3,192)					$ (3,192)
Tax withholdings on equity award vesting (in shares)						(50,000)
Amortization of share-based compensation	11,448		11,448
Treasury stock purchases	(22,901)					$ (22,901)
Treasury stock purchases (in shares)						(386,000)
Total comprehensive income (loss), net of taxes	97,947			12,511	84,982		454
Return of investment to noncontrolling interests	(606)						(606)
Ending balance at Sep. 30, 2022	2,975,363	$ 6,547	857,674	(13,455)	2,431,421	$ (309,130)	2,306
Ending balance (in shares) at Sep. 30, 2022		65,472,000				(5,577,000)
Beginning balance at Jun. 30, 2022	2,929,744	$ 6,547	854,781	(21,957)	2,392,330	$ (304,314)	2,357
Beginning balance (in shares) at Jun. 30, 2022		65,472,000				(5,501,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Amortization of share-based compensation	2,893		2,893
Treasury stock purchases	(4,816)					$ (4,816)
Treasury stock purchases (in shares)						(76,000)
Total comprehensive income (loss), net of taxes	47,746			8,502	39,091		153
Return of investment to noncontrolling interests	(204)						(204)
Ending balance at Sep. 30, 2022	$ 2,975,363	$ 6,547	$ 857,674	$ (13,455)	$ 2,431,421	$ (309,130)	$ 2,306
Ending balance (in shares) at Sep. 30, 2022		65,472,000				(5,577,000)

Basis for Preparation of the Co

Basis for Preparation of the Condensed Financial Statements	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis for Preparation of the Condensed Financial Statements	(1) Basis for Preparation of the Condensed Financial Statements The condensed financial statements included herein have been prepared by Kirby Corporation and its consolidated subsidiaries (the “Company”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Although the Company believes that the disclosures are adequate to make the information presented not misleading, certain information and footnote disclosures, including significant accounting policies normally included in annual financial statements, have been condensed or omitted pursuant to such rules and regulations. It is suggested that these condensed financial statements be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 . Certain reclassifications have been made to reflect the current presentation of financial information.

Acquisition

Acquisition	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Acquisitions	(2) Acquisitions On March 31, 2022, the Company paid $ 3.9 million in cash to purchase assets of a gearbox repair company in the distribution and services segment. Assets acquired consisted primarily of property and equipment. During the nine months ended September 30, 2021, the Company purchased four inland tank barges from a leasing company for $ 7.5 million in cash. The Company had been leasing the barges prior to the purchase.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues	(3) Revenues The following table sets forth the Company’s revenues by major source (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Marine transportation segment: Inland transportation $ 345,052 $ 255,791 $ 939,910 $ 733,830 Coastal transportation 87,988 82,723 254,321 238,522 $ 433,040 $ 338,514 $ 1,194,231 $ 972,352 Distribution and services segment: Commercial and industrial $ 165,361 $ 153,056 $ 474,515 $ 426,930 Oil and gas 147,442 107,350 385,843 256,112 $ 312,803 $ 260,406 $ 860,358 $ 683,042 Contract liabilities represent advance consideration received from customers, and are recognized as revenue over time as the related performance obligation is satisfied. Revenues recognized during the nine months ended September 30, 2022 and 2021 that were included in the opening contract liability balances were $ 54.6 million and $ 40.3 million , respectively. The Company presents all contract liabilities within the deferred revenues financial statement caption on the balance sheets. The Company did no t have any contract assets at September 30, 2022 or December 31, 2021 . The Company applies the practical expedient that allows non-disclosure of information about remaining performance obligations that have original expected durations of one year or less.

Segment Data

Segment Data	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Data	(4) Segment Data The Company’s operations are aggregated into two reportable business segments as follows: Marine Transportation Segment (“KMT”) — Provides marine transportation by United States flagged vessels principally of liquid cargoes throughout the United States inland waterway system, along all three United States coasts, and, to a lesser extent, in United States coastal transportation of dry-bulk cargoes. The principal products transported include petrochemicals, black oil, refined petroleum products, and agricultural chemicals. Distribution and Services Segment (“KDS”) — Provides after-market services and genuine replacement parts for engines, transmissions, reduction gears, and related equipment used in oilfield services, marine, power generation, on-highway, and other industrial applications. The Company also rents equipment including generators, industrial compressors, high capacity lift trucks, and refrigeration trailers for use in a variety of industrial markets, and manufactures and remanufactures oilfield service equipment, including pressure pumping units, electric power generation equipment, specialized electrical distribution and control equipment, and high capacity energy storage/battery systems for oilfield service and railroad customers. The Company’s two reportable business segments are managed separately based on fundamental differences in their operations. The Company evaluates the performance of its segments based on the contributions to operating income of the respective segments, before income taxes, interest, gains or losses on disposition of assets, other nonoperating income, noncontrolling interests, accounting changes, and nonrecurring items. Intersegment revenues, based on market-based pricing, of KDS from KMT of $ 8.0 million and $ 21.9 million for the three months and nine months ended September 30, 2022, respectively, and $ 5.4 million and $ 17.6 million for the three months and nine months ended September 30, 2021, respectively, as well as the related intersegment profit of $ 0.8 million and $ 2.2 million for the three months and nine months ended September 30, 2022 and $ 0.5 million and $ 1.8 million for the three months and nine months ended September 30, 2021, respectively, have been eliminated from the tables below. The following tables set forth the Company’s revenues and profit or loss by reportable segment and total assets (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Revenues: Marine transportation $ 433,040 $ 338,514 $ 1,194,231 $ 972,352 Distribution and services 312,803 260,406 860,358 683,042 $ 745,843 $ 598,920 $ 2,054,589 $ 1,655,394 Segment profit: Marine transportation $ 41,713 $ 16,915 $ 89,465 $ 37,333 Distribution and services 22,268 11,039 49,976 20,106 Other ( 13,024 ) ( 353,548 ) ( 25,049 ) ( 371,199 ) $ 50,957 $ ( 325,594 ) $ 114,392 $ ( 313,760 ) September 30, December 31, Total assets: Marine transportation $ 4,279,784 $ 4,319,080 Distribution and services 992,136 892,603 Other 184,378 187,380 $ 5,456,298 $ 5,399,063 The following table presents the details of “Other” segment loss (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 General corporate expenses $ ( 5,451 ) $ ( 4,997 ) $ ( 12,275 ) $ ( 11,542 ) Gain on disposition of assets 377 830 7,971 5,082 Impairments — ( 340,713 ) — ( 340,713 ) Interest expense ( 11,755 ) ( 10,500 ) ( 32,598 ) ( 32,172 ) Other income 3,805 1,832 11,853 8,146 $ ( 13,024 ) $ ( 353,548 ) $ ( 25,049 ) $ ( 371,199 ) The following table presents the details of “Other” total assets (in thousands): September 30, December 31, General corporate assets $ 182,443 $ 185,246 Investment in affiliates 1,935 2,134 $ 184,378 $ 187,380

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Long-Term Debt	(5) Long-Term Debt The following table presents the carrying value and fair value (determined using inputs characteristic of a Level 2 fair value measurement) of debt outstanding (in thousands): September 30, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value Revolving Credit Facility due July 29, 2027 (a) $ 20,000 $ 20,000 $ — $ — Term Loan due July 29, 2027 (a) 250,000 250,000 — — Term Loan due March 27, 2024 (b) — — 315,000 315,000 3.29 % senior notes due February 27, 2023 350,000 348,431 350,000 358,390 4.2 % senior notes due March 1, 2028 500,000 470,370 500,000 549,239 Credit line due June 30, 2024 — — — — Bank notes payable 3,599 3,599 1,934 1,934 1,123,599 1,092,400 1,166,934 1,224,563 Unamortized debt discounts and issuance costs (c) ( 5,140 ) — ( 3,567 ) — $ 1,118,459 $ 1,092,400 $ 1,163,367 $ 1,224,563 (a) Variable interest rate o f 4.5 % at September 30, 2022. (b) Variable interest rate of 1.5 % at December 31, 2021. (c) Excludes $ 1.4 million attributable to the 2024 Revolving Credit Facility included in other assets at December 31, 2021 . The following table presents borrowings and payments under the bank credit facilities (in thousands): Nine Months Ended September 30, 2022 2021 Borrowings on bank credit facilities $ 171,884 $ 4,795 Payments on bank credit facilities ( 150,220 ) ( 252,852 ) $ 21,664 $ ( 248,057 ) At the beginning of the third quarter of 2022, the Company had an amended and restated credit agreement (the “2024 Credit Agreement”) with a group of commercial banks, with JPMorgan Chase Bank, N.A. as the administrative agent bank, that allowed for an $ 850 million unsecured revolving credit facility (the “2024 Revolving Credit Facility”) and an unsecured term loan (the “2024 Term Loan”) with a maturity date of March 27, 2024 . The 2024 Term Loan was prepayable, in whole or in part, without penalty. On July 29, 2022, the Company entered into a new credit agreement (the “2027 Credit Agreement”) with a group of commercial banks, with JPMorgan Chase Bank, N.A. as the administrative agent bank that allows for a $ 500 million unsecured revolving credit facility (the “2027 Revolving Credit Facility”) and a $ 250 million unsecured term loan (the “2027 Term Loan”) with a maturity date of July 29, 2027 . The 2027 Credit Agreement replaced the 2024 Credit Agreement. In conjunction with entering into the 2027 Credit Agreement, on July 29, 2022, the Company borrowed $ 35 million under the 2027 Revolving Credit Facility and $ 250 million under the 2027 Term Loan to repay borrowings under the 2024 Term Loan. In October 2022, the Company repaid $ 20.0 million under the 2027 Term Loan prior to scheduled maturities. As a result, no repayments are required until September 30, 2023. The 2027 Term Loan quarterly installments are excluded from short term liabilities because the Company has the ability and intent to refinance these quarterly installments under the 2027 Revolving Credit Facility. Outstanding letters of credit under the 2027 Revolving Credit Facility were $ 5.1 million and available borrowing capacity was $ 474.9 million as of September 30, 2022. Outstanding letters of credit under the $ 10 million credit line were $ 1.4 million and available borrowing capacity was $ 8.6 million as of September 30, 2022. The 2027 Term Loan is repayable in quarterly installments, scheduled to commence September 30, 2023, in increasing percentages of the original principal amount of the loan, with the remaining unpaid balance of approximately $ 43.8 million payable upon maturity, assuming no prepayment. The 2027 Term Loan is prepayable, in whole or in part, without penalty. The 2027 Credit Agreement provides for a variable interest rate based on the Secured Overnight Financing Rate (“SOFR”) or a base rate calculated with reference to the prime rate quoted by The Wall Street Journal, the Federal Reserve Bank of New York Rate plus 0.5 %, or the adjusted SOFR rate for a one month interest period plus 1.0 %, among other factors (the “Alternate Base Rate”). The interest rate varies with the Company's credit rating and is currently 137.5 basis points over SOFR or 37.5 basis points over the Alternate Base Rate. The 2027 Credit Agreement contains certain financial covenants including an interest coverage ratio and debt-to-capitalization ratio. In addition to financial covenants, the 2027 Credit Agreement contains covenants that, subject to exceptions, restrict debt incurrence, mergers and acquisitions, sales of assets, dividends and investments, liquidations and dissolutions, capital leases, transactions with affiliates, and changes in lines of business. The 2027 Credit Agreement specifies certain events of default, upon the occurrence of which the maturity of the outstanding loans may be accelerated, including the failure to pay principal or interest, violation of covenants and default on other indebtedness, among other events. Borrowings under the 2027 Credit Agreement may be used for general corporate purposes including acquisitions. The 2027 Revolving Credit Facility includes a $ 25 million commitment which may be used for standby letters of credit. On February 3, 2022, the Company entered into a note purchase agreement for the issuance of $ 300 million of unsecured senior notes with a group of institutional investors, consisting of $ 60 million of 3.46 % series A notes (“Series A Notes”) and $ 240 million of 3.51 % series B notes (“Series B Notes ”), each due January 19, 2033 (collectively, the “2033 Notes”). The Series A Notes were issued on October 20, 2022, and the Series B Notes are scheduled to be issued on January 19, 2023. No principal payments will be required until maturity. Beginning in 2023, interest payments of $ 5.3 million will be due semi-annually on January 19 and July 19 of each year, with the exception of the first payment on January 19, 2023, which will be $ 0.5 million. The 2033 Notes will be unsecured and rank equally in right of payment with the Company's other unsecured senior indebtedness. The 2033 Notes contain certain covenants on the part of the Company, including an interest coverage covenant, a debt-to-capitalization covenant, and covenants relating to liens, asset sales and mergers, among others. The 2033 Notes also specify certain events of default, upon the occurrence of which the maturity of the notes may be accelerated, including failure to pay principal and interest, violation of covenants or default on other indebtedness, among others. The 3.29 % unsecured senior notes due February 27, 2023 (the “2023 Notes”) are excluded from short term liabilities because the Company intends to use a combination of the proceeds from the issuance of the 2033 Notes and availability under the 2027 Re volving Credit Facility to repay the 2023 Notes upon maturity.

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	(6) Leases The Company currently leases various facilities and equipment under cancelable and noncancelable operating leases. The accounting for the Company’s leases may require judgments, which include determining whether a contract contains a lease, allocating the consideration between lease and non-lease components, and determining the incremental borrowing rates. Leases with an initial noncancelable term of 12 months or less are not recorded on the balance sheet and related lease expense is recognized on a straight-line basis over the lease term. The Company has also elected to combine lease and non-lease components on all classes of leased assets, except for leased towing vessels, for which the Company estimates approximately 70 % of the costs relate to service costs and other non-lease components. Variable lease costs relate primarily to real estate executory costs (i.e. taxes, insurance and maintenance). Future minimum lease payments under operating leases that have initial noncancelable lease terms in excess of one year were as follows (in thousands): September 30, December 31, 2022 $ 13,751 $ 41,685 2023 38,170 35,833 2024 31,067 28,837 2025 25,941 23,794 2026 19,963 18,361 Thereafter 91,784 91,237 Total lease payments 220,676 239,747 Less: imputed interest ( 42,980 ) ( 46,173 ) Operating lease liabilities $ 177,696 $ 193,574 The following table summarizes lease costs (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Operating lease cost $ 10,058 $ 10,361 $ 31,512 $ 31,433 Variable lease cost 462 467 1,327 1,382 Short-term lease cost 7,567 3,534 18,296 10,602 Sublease income ( 69 ) ( 217 ) ( 206 ) ( 797 ) $ 18,018 $ 14,145 $ 50,929 $ 42,620 The following table summarizes other supplemental information about the Company’s operating leases: September 30, December 31, Weighted average discount rate 3.9 % 3.8 % Weighted average remaining lease term 9 years 9 years

Impairments

Impairments	9 Months Ended
	Sep. 30, 2022
Asset Impairment Charges [Abstract]
Impairments	(7) Impairments During the third quarter of 2021, the Company decided to exit the Hawaii market, selling marine transportation equipment including four coastal tank barges, seven coastal tugboats, and certain other assets for aggregate cash proceeds of $ 17.2 million. In addition, as of September 30, 2021, the Company retired and classified as held for sale, an additional 12 coastal tank barges and four coastal tugboats which were underutilized. The sales and retirements of coastal marine transportation equipment resulted in an aggregate non‑cash impairment charge of $ 97.5 million to reduce the carrying value of these assets to their estimated sales prices, net of costs to sell. As a result of the sale of the Hawaii marine transportation equipment, and the decision to retire certain additional underutilized coastal tank barges and tugboats, the Company concluded that a triggering event had occurred and performed interim quantitative impairment tests as of September 30, 2021 for certain of the marine transportation segment's long-lived assets and goodwill within the coastal marine market. The Company determined the estimated fair value of such long-lived assets using a combination of a cost approach, a discounted cash flow analysis, and a market approach. The Company determined the estimated fair value of the reporting unit using a combination of a discounted cash flow analysis and a market approach for comparable companies. These analyses included management’s judgment regarding short-term and long-term internal forecasts, updated for recent events, appropriate discount rates, and capital expenditures using inputs characteristic of a Level 3 fair value measurement. In performing the impairment test of certain long-lived assets within the marine transportation segment, the Company determined that the carrying value of certain long-lived assets, including certain coastal marine transportation equipment and operating lease right-of-use assets, were no longer recoverable, resulting in a non-cash impairment charge of $ 24.2 million during the three months ended September 30, 2021 to reduce such long-lived assets to fair value. Based upon the results of the goodwill impairment test, the Company concluded that the carrying value of one reporting unit in the marine transportation segment exceeded its estimated fair value. The carrying value of the reporting unit, including goodwill, and after recording impairments of long-lived assets identified above, exceeded its estimated fair value, resulting in a non-cash goodwill impairment charge of $ 219.1 million for the three months ended September 30, 2021.

Stock Award Plans

Stock Award Plans	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock Award Plans	(8) Stock Award Plans The compensation cost that has been charged against earnings for the Company’s stock award plans and the income tax benefit recognized in the statement of earnings for stock awards were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Compensation cost $ 2,893 $ 3,645 $ 11,448 $ 12,793 Income tax benefit $ 581 $ 1,068 $ 2,881 $ 3,660 During the nine months ended September 30, 2022, the Company grant ed 208,706 restricted stock units (“RSUs”) to selected officers and other key employees under the employee stock award plan which vest ratably over five years and 27,696 shares of restricted stock to nonemployee directors of the Company under the director stock plan, the majority of which vest six months after the date of grant.

Taxes on Income

Taxes on Income	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Taxes on Income	(9) Taxes on Income At September 30, 2022 and December 31, 2021, the Company had a federal income tax receivable of $ 70.5 million and $ 71.0 million , respectively, included in Accounts Receivable – Other on the balance sheets. During the three months ended March 31, 2021, the Company received a tax refund of $ 119.5 million, including accrued interest, for its 2019 federal tax return related to net operating losses being carried back to offset taxable income generated between 2014 and 2017. Earnings (loss) before taxes on income and details of the provision (benefit) for taxes on income were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Earnings (loss) before taxes on income: United States $ 50,906 $ ( 325,369 ) $ 114,167 $ ( 313,177 ) Foreign 51 ( 225 ) 225 ( 583 ) $ 50,957 $ ( 325,594 ) $ 114,392 $ ( 313,760 ) Provision (benefit) for taxes on income: Federal: Current $ ( 6 ) $ ( 446 ) $ 513 $ ( 446 ) Deferred 10,043 ( 55,772 ) 23,764 ( 52,968 ) State and local: Current 1,015 832 2,313 1,047 Deferred 608 ( 5,056 ) 2,222 ( 3,480 ) Foreign - current 53 — 144 7 $ 11,713 $ ( 60,442 ) $ 28,956 $ ( 55,840 )

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	(10) Earnings Per Share The following table presents the components of basic and diluted earnings (loss) per share (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net earnings (loss) attributable to Kirby $ 39,091 $ ( 264,730 ) $ 84,982 $ ( 257,915 ) Undistributed earnings allocated to restricted shares ( 18 ) — ( 27 ) — Earnings (loss) available to Kirby common stockholders – basic 39,073 ( 264,730 ) 84,955 ( 257,915 ) Undistributed earnings allocated to restricted shares 18 — 27 — Undistributed earnings reallocated to restricted shares ( 18 ) — ( 27 ) — Earnings (loss) available to Kirby common stockholders – diluted $ 39,073 $ ( 264,730 ) $ 84,955 $ ( 257,915 ) Shares outstanding: Weighted average common stock issued and outstanding 59,923 60,109 60,107 60,095 Weighted average unvested restricted stock ( 27 ) ( 47 ) ( 19 ) ( 51 ) Weighted average common stock outstanding – basic 59,896 60,062 60,088 60,044 Dilutive effect of stock options and restricted stock units 286 — 281 — Weighted average common stock outstanding – diluted 60,182 60,062 60,369 60,044 Net earnings (loss) per share attributable to Kirby common stockholders: Basic $ 0.65 $ ( 4.41 ) $ 1.41 $ ( 4.30 ) Diluted $ 0.65 $ ( 4.41 ) $ 1.41 $ ( 4.30 ) Certain outstanding options to purchase approximately 0.4 million and 0.6 million shares of common stock were excluded in the computation of diluted earnings per share as of September 30, 2022 and 2021, respectively, as such stock options would have been antidilutive. Certain outstanding RSUs to convert to 11,000 and 565,000 shares of common stock were also excluded in the computation of diluted earnings per share as of September 30, 2022 and 2021 , respectively, as such RSUs would have been antidilutive.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventories	(11) Inventories The following table presents the details of inventories – net (in thousands): September 30, December 31, Finished goods $ 306,394 $ 260,707 Work in process 86,076 70,643 $ 392,470 $ 331,350

Retirement Plans

Retirement Plans	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Retirement Plans	(12) Retirement Plans The Company sponsors a defined benefit plan for certain of its inland vessel personnel and shore based tankermen. The plan benefits are based on an employee’s years of service and compensation. The plan assets consist primarily of equity and fixed income securities. On April 12, 2017, the Company amended its pension plan to cease all benefit accruals for periods after May 31, 2017 for certain participants. Participants grandfathered and not impacted were those, as of the close of business on May 31, 2017, who either (a) had completed 15 years of pension service or (b) had attained age 50 and completed 10 years of pension service. Participants non-grandfathered are eligible to receive discretionary 401(k) plan contributions. The Company’s pension plan funding strategy is to make annual contributions in amounts equal to or greater than amounts necessary to meet minimum government funding requirements. The plan’s benefit obligations are based on a variety of demographic and economic assumptions, and the pension plan assets’ returns are subject to various risks, including market and interest rate risk, making an accurate prediction of the pension plan contribution difficult. Based on current pension plan assets and market conditions, the Company does not expect to make a contribution to the Kirby pension plan during 2022. On February 14, 2018, with the acquisition of Higman Marine, Inc. and its affiliated companies (“Higman”), the Company assumed Higman’s pension plan for its inland vessel personnel and office staff. On March 27, 2018, the Company amended the Higman pension plan to close it to all new entrants and cease all benefit accruals for periods after May 15, 2018 for all participants. The Company made a contribution of $ 0.7 million to the Higman pension plan during the nine months ended September 30, 2022 and a contribution of $ 0.2 million during October 2022. The Company does not expect to make any additional contributions for the remainder of 2022. The Company sponsors an unfunded defined benefit health care plan that provides limited postretirement medical benefits to employees who meet minimum age and service requirements, and to eligible dependents. The plan limits cost increases in the Company’s contribution to 4 % per year. The plan is contributory, with retiree contributions adjusted annually. The plan eliminated coverage for future retirees as of December 31, 2011. The Company also has an unfunded defined benefit supplemental executive retirement plan (“SERP”) that was assumed in an acquisition in 1999. That plan ceased to accrue additional benefits effective January 1, 2000. The components of net periodic benefit cost for the Company’s defined benefit plans were as follows (in thousands): Pension Benefits Pension Plans SERP Three Months Ended September 30, Three Months Ended September 30, 2022 2021 2022 2021 Components of net periodic benefit cost: Service cost $ 1,634 $ 1,991 $ — $ — Interest cost 3,694 3,560 7 8 Expected return on plan assets ( 7,099 ) ( 6,566 ) — — Amortization of actuarial loss 6 1,412 7 10 Net periodic benefit cost $ ( 1,765 ) $ 397 $ 14 $ 18 Pension Benefits Pension Plans SERP Nine Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Components of net periodic benefit cost: Service cost $ 4,903 $ 5,971 $ — $ — Interest cost 11,056 10,679 22 23 Expected return on plan assets ( 21,395 ) ( 19,699 ) — — Amortization of actuarial loss 248 3,300 22 30 Net periodic benefit cost $ ( 5,188 ) $ 251 $ 44 $ 53 The components of net periodic benefit cost for the Company’s postretirement benefit plan were as follows (in thousands): Other Postretirement Benefits Postretirement Welfare Plan Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Components of net periodic benefit cost: Interest cost $ 5 $ 5 $ 13 $ 13 Amortization of actuarial gain ( 98 ) ( 113 ) ( 295 ) ( 338 ) Net periodic benefit cost $ ( 93 ) $ ( 108 ) $ ( 282 ) $ ( 325 )

Other Comprehensive Income

Other Comprehensive Income	9 Months Ended
	Sep. 30, 2022
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax [Abstract]
Other Comprehensive Income	(13) Other Comprehensive Income The Company’s changes in other comprehensive income were as follows (in thousands): Three Months Ended September 30, 2022 2021 Gross Income Tax (Provision) Benefit Net Amount Gross Income Tax Provision Net Pension and postretirement benefits (a): Amortization of net actuarial (gain) loss $ ( 85 ) $ 21 $ ( 64 ) $ 1,309 $ ( 329 ) $ 980 Actuarial gains 12,265 ( 3,091 ) 9,174 2,891 ( 729 ) 2,162 Foreign currency translation ( 608 ) — ( 608 ) ( 122 ) — ( 122 ) Total $ 11,572 $ ( 3,070 ) $ 8,502 $ 4,078 $ ( 1,058 ) $ 3,020 Nine Months Ended September 30, 2022 2021 Gross Income Tax (Provision) Benefit Net Amount Gross Income Tax Provision Net Pension and postretirement benefits (a): Amortization of net actuarial (gain) loss $ ( 25 ) $ 4 $ ( 21 ) $ 2,992 $ ( 753 ) $ 2,239 Actuarial gains 17,737 ( 4,462 ) 13,275 7,019 ( 1,764 ) 5,255 Foreign currency translation ( 743 ) — ( 743 ) ( 705 ) — ( 705 ) Total $ 16,969 $ ( 4,458 ) $ 12,511 $ 9,306 $ ( 2,517 ) $ 6,789 (a) Actuarial gains are amortized into other income (expense). ( See Note 12, Retirement Plans)

Contingencies and Commitments

Contingencies and Commitments	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	(14) Contingencies and Commitments On October 13, 2016, the tug Nathan E. Stewart and barge DBL 55, an articulated tank barge and tugboat unit (“ATB”) owned and operated by Kirby Offshore Marine, LLC, a wholly owned subsidiary of the Company, ran aground at the entrance to Seaforth Channel on Atholone Island, British Columbia. The grounding resulted in a breach of a portion of the Nathan E. Stewart’s fuel tanks causing a discharge of diesel fuel into the water. The United States Coast Guard and the National Transportation Safety Board designated the Company as a party of interest in their investigation as to the cause of the incident. The Canadian authorities including Transport Canada and the Canadian Transportation Safety Board investigated the cause of the incident. On October 10, 2018, the Heiltsuk First Nation filed a civil action in the British Columbia Supreme Court against a subsidiary of the Company, the master and pilot of the tug, the vessels and the Canadian government seeking unquantified damages as a result of the incident. On May 1, 2019, the Company filed a limitation action in the Federal Court of Canada seeking limitation of liability relating to the incident as provided under admiralty law. The Heiltsuk First Nation’s civil claim has been consolidated into the Federal Court limitation action as of July 26, 2019 and it is expected that the Federal Court of Canada will decide all claims against the Company. The Company is unable to estimate the potential exposure in the civil proceeding. The Company has various insurance policies covering liabilities including pollution, property, marine and general liability and believes that it has satisfactory insurance coverage for the cost of cleanup and salvage operations as well as other potential liabilities arising from the incident. The Company believes its accrual of such estimated liability is adequate for the incident and does not expect the incident to have a material adverse effect on its business or financial condition. In addition, the Company is involved in various legal and other proceedings which are incidental to the conduct of its business, none of which in the opinion of management will have a material effect on the Company’s financial condition, results of operations, or cash flows. Management believes its accrual of such estimated liability is adequate and believes that it has adequate insurance coverage or has meritorious defenses for these other claims and contingencies. The Company has issued guaranties or obtained standby letters of credit and performance bonds supporting performance by the Company and its subsidiaries of contractual or contingent legal obligations of the Company and its subsidiaries incurred in the ordinary course of business. The aggregate notional value of these instruments is $ 20.1 million at September 30, 2022, including $ 12.1 million in letters of credit and $ 8.0 million in performance bonds. All of these instruments have an expiration date within two years . The Company does not believe demand for payment under these instruments is likely and expects no material cash outlays to occur regarding these instruments.

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues by Major Source	The following table sets forth the Company’s revenues by major source (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Marine transportation segment: Inland transportation $ 345,052 $ 255,791 $ 939,910 $ 733,830 Coastal transportation 87,988 82,723 254,321 238,522 $ 433,040 $ 338,514 $ 1,194,231 $ 972,352 Distribution and services segment: Commercial and industrial $ 165,361 $ 153,056 $ 474,515 $ 426,930 Oil and gas 147,442 107,350 385,843 256,112 $ 312,803 $ 260,406 $ 860,358 $ 683,042

Segment Data (Tables)

Segment Data (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Reporting Information, by Segment	The following tables set forth the Company’s revenues and profit or loss by reportable segment and total assets (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Revenues: Marine transportation $ 433,040 $ 338,514 $ 1,194,231 $ 972,352 Distribution and services 312,803 260,406 860,358 683,042 $ 745,843 $ 598,920 $ 2,054,589 $ 1,655,394 Segment profit: Marine transportation $ 41,713 $ 16,915 $ 89,465 $ 37,333 Distribution and services 22,268 11,039 49,976 20,106 Other ( 13,024 ) ( 353,548 ) ( 25,049 ) ( 371,199 ) $ 50,957 $ ( 325,594 ) $ 114,392 $ ( 313,760 ) September 30, December 31, Total assets: Marine transportation $ 4,279,784 $ 4,319,080 Distribution and services 992,136 892,603 Other 184,378 187,380 $ 5,456,298 $ 5,399,063
Other Segment Reporting Information	The following table presents the details of “Other” segment loss (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 General corporate expenses $ ( 5,451 ) $ ( 4,997 ) $ ( 12,275 ) $ ( 11,542 ) Gain on disposition of assets 377 830 7,971 5,082 Impairments — ( 340,713 ) — ( 340,713 ) Interest expense ( 11,755 ) ( 10,500 ) ( 32,598 ) ( 32,172 ) Other income 3,805 1,832 11,853 8,146 $ ( 13,024 ) $ ( 353,548 ) $ ( 25,049 ) $ ( 371,199 ) The following table presents the details of “Other” total assets (in thousands): September 30, December 31, General corporate assets $ 182,443 $ 185,246 Investment in affiliates 1,935 2,134 $ 184,378 $ 187,380

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Carrying Values and Fair Values of Debt Outstanding	The following table presents the carrying value and fair value (determined using inputs characteristic of a Level 2 fair value measurement) of debt outstanding (in thousands): September 30, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value Revolving Credit Facility due July 29, 2027 (a) $ 20,000 $ 20,000 $ — $ — Term Loan due July 29, 2027 (a) 250,000 250,000 — — Term Loan due March 27, 2024 (b) — — 315,000 315,000 3.29 % senior notes due February 27, 2023 350,000 348,431 350,000 358,390 4.2 % senior notes due March 1, 2028 500,000 470,370 500,000 549,239 Credit line due June 30, 2024 — — — — Bank notes payable 3,599 3,599 1,934 1,934 1,123,599 1,092,400 1,166,934 1,224,563 Unamortized debt discounts and issuance costs (c) ( 5,140 ) — ( 3,567 ) — $ 1,118,459 $ 1,092,400 $ 1,163,367 $ 1,224,563 (a) Variable interest rate o f 4.5 % at September 30, 2022. (b) Variable interest rate of 1.5 % at December 31, 2021. (c) Excludes $ 1.4 million attributable to the 2024 Revolving Credit Facility included in other assets at December 31, 2021 .
Borrowings and Payments Under the Bank Credit Facilities	The following table presents borrowings and payments under the bank credit facilities (in thousands): Nine Months Ended September 30, 2022 2021 Borrowings on bank credit facilities $ 171,884 $ 4,795 Payments on bank credit facilities ( 150,220 ) ( 252,852 ) $ 21,664 $ ( 248,057 ) At the beginning of the third quarter of 2022, the Company had an amended and restated credit agreement (the “2024 Credit Agreement”) with a group of commercial banks, with JPMorgan Chase Bank, N.A. as the administrative agent bank, that allowed for an $ 850 million unsecured revolving credit facility (the “2024 Revolving Credit Facility”) and an unsecured term loan (the “2024 Term Loan”) with a maturity date of March 27, 2024 . The 2024 Term Loan was prepayable, in whole or in part, without penalty.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Future Minimum Lease Payments under Operating Leases	Future minimum lease payments under operating leases that have initial noncancelable lease terms in excess of one year were as follows (in thousands): September 30, December 31, 2022 $ 13,751 $ 41,685 2023 38,170 35,833 2024 31,067 28,837 2025 25,941 23,794 2026 19,963 18,361 Thereafter 91,784 91,237 Total lease payments 220,676 239,747 Less: imputed interest ( 42,980 ) ( 46,173 ) Operating lease liabilities $ 177,696 $ 193,574
Lease Cost	The following table summarizes lease costs (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Operating lease cost $ 10,058 $ 10,361 $ 31,512 $ 31,433 Variable lease cost 462 467 1,327 1,382 Short-term lease cost 7,567 3,534 18,296 10,602 Sublease income ( 69 ) ( 217 ) ( 206 ) ( 797 ) $ 18,018 $ 14,145 $ 50,929 $ 42,620
Operating Leases, Weighted Average Discount Rate and Remaining Lease Term	The following table summarizes other supplemental information about the Company’s operating leases: September 30, December 31, Weighted average discount rate 3.9 % 3.8 % Weighted average remaining lease term 9 years 9 years

Stock Award Plans (Tables)

Stock Award Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Compensation Cost Breakdown in Statement of Earnings	The compensation cost that has been charged against earnings for the Company’s stock award plans and the income tax benefit recognized in the statement of earnings for stock awards were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Compensation cost $ 2,893 $ 3,645 $ 11,448 $ 12,793 Income tax benefit $ 581 $ 1,068 $ 2,881 $ 3,660

Taxes on Income (Tables)

Taxes on Income (Tables)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Taxes on Income	Earnings (loss) before taxes on income and details of the provision (benefit) for taxes on income were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Earnings (loss) before taxes on income: United States $ 50,906 $ ( 325,369 ) $ 114,167 $ ( 313,177 ) Foreign 51 ( 225 ) 225 ( 583 ) $ 50,957 $ ( 325,594 ) $ 114,392 $ ( 313,760 ) Provision (benefit) for taxes on income: Federal: Current $ ( 6 ) $ ( 446 ) $ 513 $ ( 446 ) Deferred 10,043 ( 55,772 ) 23,764 ( 52,968 ) State and local: Current 1,015 832 2,313 1,047 Deferred 608 ( 5,056 ) 2,222 ( 3,480 ) Foreign - current 53 — 144 7 $ 11,713 $ ( 60,442 ) $ 28,956 $ ( 55,840 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Loss Per Share	The following table presents the components of basic and diluted earnings (loss) per share (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net earnings (loss) attributable to Kirby $ 39,091 $ ( 264,730 ) $ 84,982 $ ( 257,915 ) Undistributed earnings allocated to restricted shares ( 18 ) — ( 27 ) — Earnings (loss) available to Kirby common stockholders – basic 39,073 ( 264,730 ) 84,955 ( 257,915 ) Undistributed earnings allocated to restricted shares 18 — 27 — Undistributed earnings reallocated to restricted shares ( 18 ) — ( 27 ) — Earnings (loss) available to Kirby common stockholders – diluted $ 39,073 $ ( 264,730 ) $ 84,955 $ ( 257,915 ) Shares outstanding: Weighted average common stock issued and outstanding 59,923 60,109 60,107 60,095 Weighted average unvested restricted stock ( 27 ) ( 47 ) ( 19 ) ( 51 ) Weighted average common stock outstanding – basic 59,896 60,062 60,088 60,044 Dilutive effect of stock options and restricted stock units 286 — 281 — Weighted average common stock outstanding – diluted 60,182 60,062 60,369 60,044 Net earnings (loss) per share attributable to Kirby common stockholders: Basic $ 0.65 $ ( 4.41 ) $ 1.41 $ ( 4.30 ) Diluted $ 0.65 $ ( 4.41 ) $ 1.41 $ ( 4.30 )

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Details of Inventories	The following table presents the details of inventories – net (in thousands): September 30, December 31, Finished goods $ 306,394 $ 260,707 Work in process 86,076 70,643 $ 392,470 $ 331,350

Retirement Plans (Tables)

Retirement Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Benefit Cost	The components of net periodic benefit cost for the Company’s defined benefit plans were as follows (in thousands): Pension Benefits Pension Plans SERP Three Months Ended September 30, Three Months Ended September 30, 2022 2021 2022 2021 Components of net periodic benefit cost: Service cost $ 1,634 $ 1,991 $ — $ — Interest cost 3,694 3,560 7 8 Expected return on plan assets ( 7,099 ) ( 6,566 ) — — Amortization of actuarial loss 6 1,412 7 10 Net periodic benefit cost $ ( 1,765 ) $ 397 $ 14 $ 18 Pension Benefits Pension Plans SERP Nine Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Components of net periodic benefit cost: Service cost $ 4,903 $ 5,971 $ — $ — Interest cost 11,056 10,679 22 23 Expected return on plan assets ( 21,395 ) ( 19,699 ) — — Amortization of actuarial loss 248 3,300 22 30 Net periodic benefit cost $ ( 5,188 ) $ 251 $ 44 $ 53
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Benefit Cost	The components of net periodic benefit cost for the Company’s postretirement benefit plan were as follows (in thousands): Other Postretirement Benefits Postretirement Welfare Plan Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Components of net periodic benefit cost: Interest cost $ 5 $ 5 $ 13 $ 13 Amortization of actuarial gain ( 98 ) ( 113 ) ( 295 ) ( 338 ) Net periodic benefit cost $ ( 93 ) $ ( 108 ) $ ( 282 ) $ ( 325 )

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2022
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax [Abstract]
Changes in Other Comprehensive Income	The Company’s changes in other comprehensive income were as follows (in thousands): Three Months Ended September 30, 2022 2021 Gross Income Tax (Provision) Benefit Net Amount Gross Income Tax Provision Net Pension and postretirement benefits (a): Amortization of net actuarial (gain) loss $ ( 85 ) $ 21 $ ( 64 ) $ 1,309 $ ( 329 ) $ 980 Actuarial gains 12,265 ( 3,091 ) 9,174 2,891 ( 729 ) 2,162 Foreign currency translation ( 608 ) — ( 608 ) ( 122 ) — ( 122 ) Total $ 11,572 $ ( 3,070 ) $ 8,502 $ 4,078 $ ( 1,058 ) $ 3,020 Nine Months Ended September 30, 2022 2021 Gross Income Tax (Provision) Benefit Net Amount Gross Income Tax Provision Net Pension and postretirement benefits (a): Amortization of net actuarial (gain) loss $ ( 25 ) $ 4 $ ( 21 ) $ 2,992 $ ( 753 ) $ 2,239 Actuarial gains 17,737 ( 4,462 ) 13,275 7,019 ( 1,764 ) 5,255 Foreign currency translation ( 743 ) — ( 743 ) ( 705 ) — ( 705 ) Total $ 16,969 $ ( 4,458 ) $ 12,511 $ 9,306 $ ( 2,517 ) $ 6,789 (a) Actuarial gains are amortized into other income (expense). ( See Note 12, Retirement Plans)

Acquisition (Details)

Acquisition (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2022	Sep. 30, 2021
Inland Tank Barges [Member]
Restructuring Cost and Reserve [Line Items]
Cash paid for acquisition		$ 7.5
Gearbox Repair [Member]
Restructuring Cost and Reserve [Line Items]
Cash paid for acquisition	$ 3.9

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Abstract]
Revenues by major source	$ 745,843	$ 598,920	$ 2,054,589	$ 1,655,394
Revenue recognized			54,600	40,300
Marine Transportation [Member]
Disaggregation of Revenue [Abstract]
Revenues by major source	433,040	338,514	1,194,231	972,352
Marine Transportation [Member] | Inland Transportation [Member]
Disaggregation of Revenue [Abstract]
Revenues by major source	345,052	255,791	939,910	733,830
Marine Transportation [Member] | Coastal Transportation [Member]
Disaggregation of Revenue [Abstract]
Revenues by major source	87,988	82,723	254,321	238,522
Distribution and Services [Member]
Disaggregation of Revenue [Abstract]
Revenues by major source	312,803	260,406	860,358	683,042
Distribution and Services [Member] | Commercial and Industrial [Member]
Disaggregation of Revenue [Abstract]
Revenues by major source	165,361	153,056	474,515	426,930
Distribution and Services [Member] | Oil and Gas [Member]
Disaggregation of Revenue [Abstract]
Revenues by major source	$ 147,442	$ 107,350	$ 385,843	$ 256,112

Revenues, Remaining Performance

Revenues, Remaining Performance Obligation (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract assets	$ 0	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-03-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction, period	1 year

Segment Data (Details)

Segment Data (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) Segment	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment			2
Revenues [Abstract]
Total revenues	$ 745,843,000	$ 598,920,000	$ 2,054,589,000	$ 1,655,394,000
Segment profit	50,957,000	(325,594,000)	114,392,000	(313,760,000)
Total assets	5,456,298,000		5,456,298,000		$ 5,399,063,000
Other segment disclosures [Abstract]
Gain on disposition of assets	377,000	830,000	7,971,000	5,082,000
Interest expense	(11,755,000)	(10,500,000)	(32,598,000)	(32,172,000)
Earnings (loss) before taxes on income	50,957,000	(325,594,000)	114,392,000	(313,760,000)
Marine Transportation [Member]
Revenues [Abstract]
Total revenues	433,040,000	338,514,000	1,194,231,000	972,352,000
Distribution and Services [Member]
Revenues [Abstract]
Total revenues	312,803,000	260,406,000	860,358,000	683,042,000
Other [Member]
Revenues [Abstract]
Segment profit	(13,024,000)	(353,548,000)	(25,049,000)	(371,199,000)
Total assets	184,378,000		184,378,000		187,380,000
Other segment disclosures [Abstract]
General corporate expenses	(5,451,000)	(4,997,000)	(12,275,000)	(11,542,000)
Gain on disposition of assets	377,000	830,000	7,971,000	5,082,000
Impairments	0	(340,713,000)	0	(340,713,000)
Interest expense	(11,755,000)	(10,500,000)	(32,598,000)	(32,172,000)
Other income	3,805,000	1,832,000	11,853,000	8,146,000
Earnings (loss) before taxes on income	(13,024,000)	(353,548,000)	(25,049,000)	(371,199,000)
Details of Other total assets [Abstract]
General corporate assets	182,443,000		182,443,000		185,246,000
Investment in affiliates	1,935,000		1,935,000		2,134,000
Total other assets	184,378,000		184,378,000		187,380,000
Reporting Segments [Member] | Marine Transportation [Member]
Revenues [Abstract]
Total revenues	433,040,000	338,514,000	1,194,231,000	972,352,000
Segment profit	41,713,000	16,915,000	89,465,000	37,333,000
Total assets	4,279,784,000		4,279,784,000		4,319,080,000
Other segment disclosures [Abstract]
Earnings (loss) before taxes on income	41,713,000	16,915,000	89,465,000	37,333,000
Reporting Segments [Member] | Distribution and Services [Member]
Revenues [Abstract]
Total revenues	312,803,000	260,406,000	860,358,000	683,042,000
Segment profit	22,268,000	11,039,000	49,976,000	20,106,000
Total assets	992,136,000		992,136,000		$ 892,603,000
Other segment disclosures [Abstract]
Earnings (loss) before taxes on income	22,268,000	11,039,000	49,976,000	20,106,000
Intersegment Eliminations [Member]
Revenues [Abstract]
Total revenues	8,000,000	5,400,000	21,900,000	17,600,000
Segment profit	800,000	500,000	2,200,000	1,800,000
Other segment disclosures [Abstract]
Earnings (loss) before taxes on income	$ 800,000	$ 500,000	$ 2,200,000	$ 1,800,000

Long-Term Debt, Carrying Value

Long-Term Debt, Carrying Value and Fair Value of Debt Outstanding (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended	12 Months Ended
	Jul. 29, 2022	Sep. 30, 2022	Dec. 31, 2021
Carrying Value and Fair Value of Debt Outstanding [Abstract]
Carrying value		$ 1,123,599	$ 1,166,934
Fair value		1,092,400	1,224,563
Unamortized debt discounts and issuance costs		(5,140)	(3,567)
Long-Term Debt		1,118,459	1,163,367
Debt Instrument, Basis Spread on Variable Rate	0.50%
Amount excluded on unamortized debt discounts and issuance costs			1,400
3.29% Senior Notes Due February, 27 2023 [Member]
Carrying Value and Fair Value of Debt Outstanding [Abstract]
Carrying value		350,000	350,000
Fair value		$ 348,431	358,390
Interest rate		3.29%
Maturity Date		Feb. 27, 2023
4.2% Senior Notes Due March 1, 2028 [Member]
Carrying Value and Fair Value of Debt Outstanding [Abstract]
Carrying value		$ 500,000	500,000
Fair value		$ 470,370	549,239
Interest rate		4.20%
Maturity Date		Mar. 01, 2028
Credit line due September 30, 2021 [Member]
Carrying Value and Fair Value of Debt Outstanding [Abstract]
Carrying value		$ 0	0
Fair value		0	0
Bank Note Payable [Member]
Carrying Value and Fair Value of Debt Outstanding [Abstract]
Carrying value		3,599	1,934
Fair value		3,599	1,934
Revolving Credit Facility [Member]
Carrying Value and Fair Value of Debt Outstanding [Abstract]
Carrying value		20,000	0
Fair value		$ 20,000	0
Maturity Date		Jul. 29, 2027
Term Loan [Member]
Carrying Value and Fair Value of Debt Outstanding [Abstract]
Long-Term Debt	$ 250,000
Term Loan due July 29, 2027 [Member]
Carrying Value and Fair Value of Debt Outstanding [Abstract]
Carrying value		$ 250,000	0
Fair value		$ 250,000	0
Debt Instrument, Basis Spread on Variable Rate		4.50%
Maturity Date		Jul. 29, 2027
Term Loan due March 27, 2024 [Member]
Carrying Value and Fair Value of Debt Outstanding [Abstract]
Carrying value		$ 0	315,000
Fair value		$ 0	$ 315,000
Debt Instrument, Basis Spread on Variable Rate			1.50%
Maturity Date		Mar. 27, 2024

Long-Term Debt, Borrowings and

Long-Term Debt, Borrowings and Payments under Bank Credit Facilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Proceeds from (Repayments of) Debt [Abstract]
Borrowings (Payments) on bank credit facilities	$ 21,664	$ (248,057)
Revolving Credit Facility [Member]
Proceeds from (Repayments of) Debt [Abstract]
Proceeds from Lines of Credit	171,884	4,795
Payments on bank credit facilities	(150,220)	(252,852)
Borrowings (Payments) on bank credit facilities	$ 21,664	$ (248,057)

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)						1 Months Ended	9 Months Ended
	Sep. 30, 2023	Jul. 19, 2023	Jan. 19, 2023	Oct. 31, 2022	Feb. 03, 2022	Jul. 29, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Long-term Debt [Abstract]
Payments on long-term debt							$ (315,000,000)	$ (15,000,000)
Term loan							1,118,459,000		$ 1,163,367,000
Periodic payment, interest		$ 5,300,000	$ 500,000
Debt Instrument, Basis Spread on Variable Rate						0.50%
unpaid balance						$ 43,800,000
SOFR [Member]
Long-term Debt [Abstract]
Interest rate						1%
Credit line due September 30, 2021 [Member]
Long-term Debt [Abstract]
Maximum borrowing capacity							8,600
Credit facility, amount outstanding							10,000,000
Available borrowing capacity							$ 1,400,000
Senior Notes Series B Due February Twenty Seven Two Thousand Twenty Three [Member]
Long-term Debt [Abstract]
Interest rate							3.29%
Maturity Date							Feb. 27, 2023
Three point Four Six Series A Notes Due January Nineteen Two Thousand Thirty Three [Member]
Long-term Debt [Abstract]
Long term debt, face amount					$ 60,000,000
Interest rate					3.46%
Three point Five One Series B Notes Due January Nineteen Two Thousand Thirty Three [Member]
Long-term Debt [Abstract]
Long term debt, face amount					$ 240,000,000
Interest rate					3.51%
Maturity Date					Jan. 19, 2033
Unsecured Debt [Member]
Long-term Debt [Abstract]
Long term debt, face amount					$ 300,000,000
Revolving Credit Facility [Member]
Long-term Debt [Abstract]
Maximum borrowing capacity						$ 500,000,000	$ 850,000,000
Credit facility, amount outstanding							5,100,000
Available borrowing capacity						35,000,000	$ 474,900,000
Maturity Date							Jul. 29, 2027
Line of Credit Facility, Commitment Fee Amount						$ 25,000
Revolving Credit Facility [Member] | SOFR [Member]
Long-term Debt [Abstract]
Debt Instrument, Basis Spread on Variable Rate						137.50%
Revolving Credit Facility [Member] | Base Rate [Member]
Long-term Debt [Abstract]
Debt Instrument, Basis Spread on Variable Rate						37.50%
Term Loan [Member]
Long-term Debt [Abstract]
Credit facility, expiration date						Jul. 29, 2027	Mar. 27, 2024
Payments on long-term debt				$ (20,000,000)		$ (250,000,000)
Term loan						$ 250,000,000
Term Loan [Member] | Forecast [Member]
Long-term Debt [Abstract]
Payments on long-term debt	$ 0

Leases, Future Minimum Lease Pa

Leases, Future Minimum Lease Payments Under Operating Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Percentage of costs relate to service costs for leased towing vessels	70%
Future Minimum Lease Payments Under Operating Leases [Abstract]
2022	$ 13,751	$ 41,685
2023	38,170	35,833
2024	31,067	28,837
2025	25,941	23,794
2026	19,963	18,361
Thereafter	91,784	91,237
Total lease payments	220,676	239,747
Less: imputed interest	(42,980)	(46,173)
Operating lease liabilities	$ 177,696	$ 193,574

Leases, Lease Cost (Details)

Leases, Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Lease, Cost [Abstract]
Operating lease cost	$ 10,058	$ 10,361	$ 31,512	$ 31,433
Variable Lease, Cost	462	467	1,327	1,382
Short-term lease cost	7,567	3,534	18,296	10,602
Sublease income	(69)	(217)	(206)	(797)
Total lease cost	$ 18,018	$ 14,145	$ 50,929	$ 42,620

Leases, Other Supplemental Info

Leases, Other Supplemental Information (Details)	Sep. 30, 2022	Dec. 31, 2021
Other Supplemental Information about Operating Leases [Abstract]
Weighted average discount rate	3.90%	3.80%
Weighted average remaining lease term	9 years	9 years

Impairments (Details)

Impairments (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) Segment	Sep. 30, 2021 USD ($)
Impairment Effects on Earnings Per Share [Line Items]
Proceeds from sale of assets		$ 32,904	$ 39,163
Marine Transportation [Member]
Impairment Effects on Earnings Per Share [Line Items]
Number of reporting units | Segment		1
Goodwill impairment charge	$ 219,100
Marine Transportation [Member] | Level 3 [Member]
Impairment Effects on Earnings Per Share [Line Items]
Non-cash pre-tax impairment charge	24,200
Marine Transportation [Member] | HAWAII
Impairment Effects on Earnings Per Share [Line Items]
Proceeds from sale of assets	17,200
Impairment charge	$ 97,500

Stock Award Plans, Compensation

Stock Award Plans, Compensation Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement [Abstract]
Compensation cost	$ 2,893	$ 3,645	$ 11,448	$ 12,793
Income tax benefit	$ 581	$ 1,068	$ 2,881	$ 3,660

Stock Award Plans (Details)

Stock Award Plans (Details)	9 Months Ended
	Sep. 30, 2022 shares
Employee Stock Award Plan [Member] | Restricted Stock Units (RSUs) [Member]
Stock Award Plan Information [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	208,706
Vesting period	5 years
Director Plan [Member] | Restricted Stock [Member]
Stock Award Plan Information [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	27,696

Taxes on Income (Details)

Taxes on Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Mar. 31, 2021
Income Taxes [Abstract]
Income tax receivable	$ 70,500		$ 70,500		$ 71,000
Tax refund amount						$ 119,500
Earnings (loss) before taxes on income [Abstract]
Earnings (loss) before taxes on income	50,957	$ (325,594)	114,392	$ (313,760)
U.S. Federal [Abstract]
Current	(6)	(446)	513	(446)
Deferred	10,043	(55,772)	23,764	(52,968)
Current Federal, State and Local, Tax Expense (Benefit) [Abstract]
Current	1,015	832	2,313	1,047
Deferred State and Local Income Tax Expense (Benefit)	608	(5,056)	2,222	(3,480)
Current Foreign Tax Expense (Benefit)	53	0	144	7
Total provision (benefit) for taxes on income	11,713	(60,442)	28,956	(55,840)
United States [Member]
Earnings (loss) before taxes on income [Abstract]
Earnings (loss) before taxes on income	50,906	(325,369)	114,167	(313,177)
Foreign [Member]
Earnings (loss) before taxes on income [Abstract]
Earnings (loss) before taxes on income	$ 51	$ (225)	$ 225	$ (583)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net Income (Loss) Attributable to Parent [Abstract]
Net earnings (loss) attributable to Kirby	$ 39,091	$ (264,730)	$ 84,982	$ (257,915)
Undistributed earnings allocated to restricted shares	(18)	0	(27)	0
Earnings (loss) available to Kirby common stockholders, basic, total	39,073	(264,730)	84,955	(257,915)
Undistributed earnings allocated to restricted shares	18	0	27	0
Undistributed earnings reallocated to restricted shares	(18)	0	(27)	0
Earnings (loss) available to Kirby common stockholders - diluted	$ 39,073	$ (264,730)	$ 84,955	$ (257,915)
Shares outstanding [Abstract]
Weighted average common stock issued and outstanding (in shares)	59,923	60,109	60,107	60,095
Weighted average unvested restricted stock (in shares)	(27)	(47)	(19)	(51)
Weighted Average Number of Shares Outstanding, Basic (in Shares)	59,896	60,062	60,088	60,044
Dilutive effect of stock options and restricted stock units (in shares)	286	0	281	0
Weighted Average Number of Shares Outstanding, Diluted (in Shares)	60,182	60,062	60,369	60,044
Net earnings per share basic attributable to Kirby common stockholders:
Basic (in dollars per share)	$ 0.65	$ (4.41)	$ 1.41	$ (4.30)
Net earnings per share diluted attributable to Kirby common stockholders:
Diluted (in dollars per share)	$ 0.65	$ (4.41)	$ 1.41	$ (4.30)
Antidilutive securities excluded from computation of earnings per share (in shares)			400,000	600,000
RSUs [Member]
Net earnings per share diluted attributable to Kirby common stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)			11,000	565,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Details of inventories [Abstract]
Inventory, Finished Goods, Gross	$ 306,394	$ 260,707
Inventory, Work in Process, Gross	86,076	70,643
Inventories - net	$ 392,470	$ 331,350

Retirement Plans (Details)

Retirement Plans (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Retirement Plans [Abstract]
Service period of participants not impacted by pension plan amendment				15 years
Age of plan participants not impacted by pension plan amendment				50 years
Service period of participants who are age fifty not impacted by pension plan amendment				10 years
Higman [Member]
Retirement Plans [Abstract]
Pension contributions				$ 700
Higman [Member] | Subsequent Event [Member]
Retirement Plans [Abstract]
Pension contributions	$ 200
Pension Plan [Member]
Components of net periodic benefit cost [Abstract]
Service cost		$ 1,634	$ 1,991	4,903	$ 5,971
Interest cost		3,694	3,560	11,056	10,679
Expected return on plan assets		(7,099)	(6,566)	(21,395)	(19,699)
Amortization of actuarial loss (gain)		6	1,412	248	3,300
Net periodic benefit cost		(1,765)	397	(5,188)	251
SERP [Member]
Components of net periodic benefit cost [Abstract]
Service cost		0	0	0	0
Interest cost		7	8	22	23
Expected return on plan assets		0	0	0	0
Amortization of actuarial loss (gain)		7	10	22	30
Net periodic benefit cost		14	18	$ 44	53
Other Postretirement Benefits Plan [Member]
Retirement Plans [Abstract]
Pension plan defined benefit plan cost increase limit percentage				4%
Components of net periodic benefit cost [Abstract]
Interest cost		5	5	$ 13	13
Amortization of actuarial loss (gain)		(98)	(113)	(295)	(338)
Net periodic benefit cost		$ (93)	$ (108)	$ (282)	$ (325)

Other Comprehensive Income (Det

Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax [Abstract]
Amortization of net actuarial (gain) loss, gross amount	$ (85)	$ 1,309	$ (25)	$ 2,992
Amortization of net actuarial loss, income tax (provision) benefit	21	(329)	4	(753)
Amortization of net actuarial loss, net amount	(64)	980	(21)	2,239
Actuarial gains, gross amount	12,265	2,891	17,737	7,019
Actuarial gains, income tax (provision) benefit	(3,091)	(729)	(4,462)	(1,764)
Actuarial gains, net amount	9,174	2,162	13,275	5,255
Foreign currency translation, gross amount	(608)	(122)	(743)	(705)
Foreign currency translation, income tax (provision) benefit	0	0	0	0
Foreign currency translation, net amount	(608)	(122)	(743)	(705)
Total other comprehensive income, gross amount	11,572	4,078	16,969	9,306
Total other comprehensive income, income tax (provision) benefit	(3,070)	(1,058)	(4,458)	(2,517)
Total other comprehensive income, net of taxes	$ 8,502	$ 3,020	$ 12,511	$ 6,789

Contingencies and Commitments (

Contingencies and Commitments (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Guaranties [Abstract]
Issued guaranties	$ 20.1
Maximum [Member]
Guaranties [Abstract]
Guarantor obligations, expiration period	2 years
Performance Bonds [Member]
Guaranties [Abstract]
Issued guaranties	$ 8
Letters of Credit [Member]
Guaranties [Abstract]
Issued guaranties	$ 12.1