Kirby (KEX) 10-Q 5 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 04, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	KIRBY CORP
Entity Central Index Key	56,047
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		53,864,000
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016

CONDENSED BALANCE SHEETS (Unaud

CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,717	$ 5,885
Accounts receivable:
Trade - less allowance for doubtful accounts	264,703	290,931
Other	88,381	102,443
Inventories - net	186,930	184,511
Prepaid expenses and other current assets	45,088	45,283
Deferred income taxes	11,188	11,723
Total current assets	598,007	640,776
Property and equipment	4,108,140	4,059,763
Less accumulated depreciation	(1,324,627)	(1,280,783)
Property and equipment - net	2,783,513	2,778,980
Goodwill	586,718	586,718
Other assets	140,748	145,807
Total assets	4,108,986	4,152,281
Current liabilities:
Income taxes payable	3,169	3,564
Accounts payable	125,814	132,799
Accrued liabilities	164,025	184,254
Deferred revenues	34,574	41,300
Total current liabilities	327,582	361,917
Long-term debt - less current portion	712,163	774,849
Deferred income taxes	684,388	669,808
Other long-term liabilities	68,193	66,511
Total long-term liabilities	$ 1,464,744	$ 1,511,168
Contingencies and commitments
Kirby stockholders' equity:
Common stock, $.10 par value per share. Authorized 120,000,000 shares, issued 59,776,000 shares	$ 5,978	$ 5,978
Additional paid-in capital	428,836	434,783
Accumulated other comprehensive income - net	(44,037)	(44,686)
Retained earnings	2,238,929	2,200,830
Treasury stock - at cost, 5,972,000 shares at March 31, 2016 and 6,056,000 at December 31, 2015	(323,308)	(328,094)
Total Kirby stockholders' equity	2,306,398	2,268,811
Noncontrolling interests	10,262	10,385
Total equity	2,316,660	2,279,196
Total liabilities and equity	$ 4,108,986	$ 4,152,281

CONDENSED BALANCE SHEETS (Unau3

CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Equity:
Common stock, par value per share (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	59,776,000	59,776,000
Treasury stock, shares (in shares)	5,972,000	6,056,000

CONDENSED STATEMENTS OF EARNING

CONDENSED STATEMENTS OF EARNINGS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Marine transportation	$ 378,343	$ 419,905
Diesel engine services	80,390	167,768
Total revenues	458,733	587,673
Costs and expenses:
Costs of sales and operating expenses	288,910	384,781
Selling, general and administrative	50,461	51,044
Taxes, other than on income	5,404	4,545
Depreciation and amortization	48,624	45,766
Gain on disposition of assets	(67)	(1,555)
Total costs and expenses	393,332	484,581
Operating income	65,401	103,092
Other income	135	60
Interest expense	(4,193)	(5,250)
Earnings before taxes on income	61,343	97,902
Provision for taxes on income	(22,859)	(36,491)
Net earnings	38,484	61,411
Less: Net earnings attributable to noncontrolling interests	(385)	(333)
Net earnings attributable to Kirby	$ 38,099	$ 61,078
Net earnings per share attributable to Kirby common stockholders:
Basic (in dollars per share)	$ 0.71	$ 1.09
Diluted (in dollars per share)	$ 0.71	$ 1.09

CONDENSED STATEMENTS OF COMPREH

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract]
Net earnings		$ 38,484	$ 61,411
Other comprehensive income (loss), net of taxes:
Pension and postretirement benefits		649	1,108
Foreign currency translation adjustments		0	(97)
Total other comprehensive income, net of taxes	[1]	649	1,011
Total comprehensive income, net of taxes		39,133	62,422
Net earnings attributable to noncontrolling interests		(385)	(333)
Comprehensive income attributable to Kirby		$ 38,748	$ 62,089
[1]	Actuarial gains (losses) are amortized into costs of sales and operating expenses or selling, general and administrative expenses as appropriate. (See Note 10 - Retirement Plans)

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net earnings	$ 38,484	$ 61,411
Adjustments to reconcile net earnings to net cash provided by operations:
Depreciation and amortization	48,624	45,766
Provision for deferred income taxes	14,713	7,182
Amortization of unearned share-based compensation	2,584	2,538
Amortization of major maintenance costs	4,608	4,932
Amortization of debt issuance costs	200	635
Other	(342)	(1,124)
Increase (decrease) in cash flows resulting from changes in operating assets and liabilities, net	2,611	(18,775)
Net cash provided by operating activities	111,482	102,565
Cash flows from investing activities:
Capital expenditures	(50,523)	(96,533)
Acquisition of marine equipment	0	(41,250)
Proceeds from disposition of assets	297	10,240
Net cash used in investing activities	(50,226)	(127,543)
Cash flows from financing activities:
Borrowings (payments) on bank credit facilities, net	(62,886)	102,200
Proceeds from exercise of stock options	0	375
Purchase of treasury stock	(1,827)	(98,011)
Excess tax benefit from equity compensation plans	0	1,015
Other	(711)	(409)
Net cash provided by (used in) financing activities	(65,424)	5,170
Decrease in cash and cash equivalents	(4,168)	(19,808)
Cash and cash equivalents, beginning of year	5,885	24,299
Cash and cash equivalents, end of period	1,717	4,491
Supplemental disclosures of cash flow information:
Interest paid	8,743	9,190
Income taxes paid (refunded)	(412)	140
Capital expenditures included in accounts payable	$ (987)	$ 0

BASIS FOR PREPARATION OF THE CO

BASIS FOR PREPARATION OF THE CONDENSED FINANCIAL STATEMENTS	3 Months Ended
	Mar. 31, 2016
BASIS FOR PREPARATION OF THE CONDENSED 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 (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, 2015.

ACCOUNTING STANDARDS ADOPTIONS

ACCOUNTING STANDARDS ADOPTIONS	3 Months Ended
	Mar. 31, 2016
ACCOUNTING STANDARDS ADOPTIONS [Abstract]
ACCOUNTING STANDARDS ADOPTIONS	(2) ACCOUNTING STANDARDS ADOPTIONS In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, “Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”) which simplifies several aspects of the accounting for share-based payment transactions, including income tax consequences, forfeitures, minimum statutory tax withholding requirements, classification as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for annual and interim periods beginning after December 15, 2016. Early adoption is permitted with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company is currently evaluating the impact of adopting this guidance. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02") to increase transparency and comparability among organizations by requiring recognition of lease assets and lease liabilities on the balance sheet and disclosure of key information about leasing arrangements. ASU 2016-02 is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements and disclosures. In November 2015, the FASB issued ASU 2015-17, “Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”) which requires that deferred tax liabilities and assets be classified as noncurrent on the balance sheet. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by this guidance. ASU 2015-17 is effective for annual and interim periods beginning after December 15, 2016 but early application is permitted and the guidance may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The Company does not anticipate a material impact on its consolidated financial statements at the time of adoption of this new standard. In July 2015, the FASB issued ASU 2015-11, “Inventory (Topic 330): Simplifying the Measurement of Inventory” (“ASU 2015-11”) which applies to inventory that is measured using first-in, first-out (“FIFO”) or average cost. Under the guidance, an entity should measure inventory that is within the scope of this update at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. ASU 2015-11 is effective for annual and interim periods beginning after December 15, 2016, and should be applied prospectively with early adoption permitted at the beginning of an interim or annual reporting period. The Company is currently evaluating the impact of adopting this guidance. In April 2015, the FASB issued ASU 2015-03, “Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”). ASU 2015-03 requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. Effective January 1, 2016, the Company adopted the provisions of ASU 2015-03 and prior period amounts have been reclassified to conform to the current period presentation. The December 31, 2015 net debt issuance costs of $3,985,000 have been reclassified in the consolidated balance sheet from other assets to long-term debt, less current portion. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”). ASU 2014-09 requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in United States Generally Accepted Accounting Principles when it becomes effective. In July 2015, the FASB voted to delay the effective date of ASU 2014-09 by one year, making it effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, with early adoption permitted as of the original effective date. ASU 2014-09 permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of ASU 2014-09 on its ongoing financial reporting.

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2016
INVENTORIES [Abstract]
INVENTORIES	(3) INVENTORIES The following table presents the details of inventories as of March 31, 2016 and December 31, 2015 (in thousands): March 31, 2016 December 31, 2015 Finished goods $ 172,495 $ 163,501 Work in process 14,435 21,010 $ 186,930 $ 184,511

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2016
FAIR VALUE MEASUREMENTS [Abstract]
FAIR VALUE MEASUREMENTS	(4) FAIR VALUE MEASUREMENTS The estimated fair value of total debt outstanding at March 31, 2016 and December 31, 2015 was $714,036,000 and $764,781,000, respectively, which differs from the carrying amounts of $712,163,000 and $774,849,000, respectively, included in the consolidated financial statements. The fair value was determined using an income approach that relies on inputs such as yield curves. Cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities have carrying values that approximate fair value due to the short-term maturity of these financial instruments. Certain assets are measured at fair value on a nonrecurring basis. These assets are adjusted to fair value when there is evidence of impairment. During the three months ended March 31, 2016, there was no indication that the Company’s long-lived assets were impaired, and accordingly, measurement at fair value was not required.

STOCK AWARD PLANS

STOCK AWARD PLANS	3 Months Ended
	Mar. 31, 2016
STOCK AWARD PLANS [Abstract]
STOCK AWARD PLANS	(5) STOCK AWARD PLANS The Company has share-based compensation plans which are described below. 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 for the three months ended March 31, 2016 and 2015 were as follows (in thousands): Three months ended March 31, 2016 2015 Compensation cost $ 2,584 $ 2,538 Income tax benefit $ 969 $ 949 The Company has an employee stock award plan for selected officers and other key employees which provides for the issuance of stock options, restricted stock and performance awards. The exercise price for each option equals the fair market value per share of the Company’s common stock on the date of grant. The terms of the options are seven years and vest ratably over three years. No performance awards payable in stock have been awarded under the plan. At March 31, 2016, 2,022,131 shares were available for future grants under the employee plan and no outstanding stock options under the employee plan were issued with stock appreciation rights. The following is a summary of the stock option activity under the employee plan described above for the three months ended March 31, 2016: Outstanding Non- Qualified or Nonincentive Stock Awards Weighted Average Exercise Price Outstanding at December 31, 2015 430,432 $ 71.01 Granted 155,706 $ 51.23 Outstanding at March 31, 2016 586,138 $ 65.76 The following table summarizes information about the Company’s outstanding and exercisable stock options under the employee plan at March 31, 2016: Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life in Years Weighted Average Exercise Price Aggregate Intrinsic Value Number Exercisable Weighted Average Exercise Price Aggregate Intrinsic Value $ 31.35 - $36.35 16,910 0.9 $ 32.82 16,910 $ 32.82 $ 46.74 - $51.23 212,335 5.5 $ 50.03 56,629 $ 46.74 $ 65.28 - $74.99 283,963 4.4 $ 70.98 209,485 $ 69.56 $ 93.64 - $96.85 35,763 4.8 $ 94.27 23,842 $ 94.27 $ 101.46 - $114.11 37,167 4.9 $ 103.22 24,107 $ 102.92 $ 31.35 - $114.11 586,138 4.8 $ 65.76 $ 2,643,000 330,973 $ 67.99 $ 1,232,000 The following is a summary of the restricted stock award activity under the employee plan described above for the three months ended March 31, 2016: Unvested Restricted Stock Award Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2015 311,727 $ 75.73 Granted 157,880 $ 51.23 Vested (104,716 ) $ 69.92 Forfeited (6,479 ) $ 77.53 Nonvested balance at March 31, 2016 358,412 $ 66.60 The Company has a stock award plan for nonemployee directors of the Company which provides for the issuance of stock options and restricted stock. The director plan provides for automatic grants of restricted stock to nonemployee directors after each annual meeting of stockholders. In addition, the director plan allows for the issuance of stock options or restricted stock in lieu of cash for all or part of the annual director fee at the option of the director. The exercise prices for all options granted under the plan are equal to the fair market value per share of the Company’s common stock on the date of grant. The terms of the options are ten years. The restricted stock issued after each annual meeting of stockholders vests six months after the date of grant. Options granted and restricted stock issued in lieu of cash director fees vest in equal quarterly increments during the year to which they relate. At March 31, 2016, 539,531 shares were available for future grants under the director plan. The director stock award plan is intended as an incentive to attract and retain qualified independent directors. There was no stock option activity under the director plan described above for the three months ended March 31, 2016. There were 220,429 shares of nonincentive stock awards outstanding at March 31, 2016 at a weighted average exercise price of $64.37. The following table summarizes information about the Company’s outstanding and exercisable stock options under the director plan at March 31, 2016: Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life in Years Weighted Average Exercise Price Aggregate Intrinsic Value Number Exercisable Weighted Average Exercise Price Aggregate Intrinsic Value $ 29.60 – $36.82 30,000 1.7 $ 33.60 30,000 $ 33.60 $ 41.24 – $56.45 71,276 4.1 $ 52.34 71,276 $ 52.34 $ 61.89 – $62.48 41,153 6.2 $ 62.34 41,153 $ 62.34 $ 75.17 – $99.52 78,000 7.0 $ 88.28 78,000 $ 88.28 $ 29.60 – $99.52 220,429 5.2 $ 64.37 $ 1,367,000 220,429 $ 64.37 $ 1,367,000 The following is a summary of the restricted stock award activity under the director plan described above for the three months ended March 31, 2016: Unvested Restricted Stock Award Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2015 1,791 $ 68.73 Vested (284 ) $ 79.46 Nonvested balance at March 31, 2016 1,507 $ 66.71 No stock options were exercised under the Company’s plans during the three months ended March 31, 2016. The total intrinsic value of all stock options exercised under the Company’s plans was $68,000 for the three months ended March 31, 2015. The actual tax benefit realized for tax deductions from stock option exercises was $26,000 for the three months ended March 31, 2015. The total intrinsic value of all the restricted stock vestings under all of the Company’s plans was $5,432,000 and $8,986,000 for the three months ended March 31, 2016 and 2015, respectively. The actual tax benefit realized for tax deductions from restricted stock vestings was $2,037,000 and $3,361,000 for the three months ended March 31, 2016 and 2015, respectively. As of March 31, 2016, there was $4,749,000 of unrecognized compensation cost related to nonvested stock options and $22,560,000 related to restricted stock. The stock options are expected to be recognized over a weighted average period of approximately 1.6 years and restricted stock over approximately 3.7 years. The total fair value of options vested was $2,469,000 and $2,167,000 during the three months ended March 31, 2016 and 2015, respectively. The fair value of the restricted stock vested was $5,432,000 and $8,986,000 for the three months ended March 31, 2016 and 2015, respectively. The weighted average per share fair value of stock options granted during the three months ended March 31, 2016 and 2015 was $15.61 and $25.18, respectively. The fair value of the stock options granted during the three months ended March 31, 2016 and 2015 was $2,430,000 and $2,893,000, respectively. The Company currently uses treasury stock shares for restricted stock grants and stock option exercises. The fair value of each stock option was determined using the Black-Scholes option pricing model. The key input variables used in valuing the options during the three months ended March 31, 2016 and 2015 were as follows: Three months ended March 31, 2016 2015 Dividend yield None None Average risk-free interest rate 1.5 % 1.3 % Stock price volatility 29 % 33 % Estimated option term Six years Six years

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME	3 Months Ended
	Mar. 31, 2016
OTHER COMPREHENSIVE INCOME [Abstract]
OTHER COMPREHENSIVE INCOME	(6) OTHER COMPREHENSIVE INCOME The Company’s changes in other comprehensive income for the three months ended March 31, 2016 and 2015 were as follows (in thousands): Three months ended March 31, 2016 2015 Gross Amount Income Tax (Provision) Benefit Net Amount Gross Amount Income Tax (Provision) Benefit Net Amount Pension and postretirement benefits (a): Amortization of net actuarial loss $ 1,037 $ (388 ) $ 649 $ 1,798 $ (690 ) $ 1,108 Actuarial gains — — — — — — Foreign currency translation adjustments — — — (97 ) — (97 ) Total $ 1,037 $ (388 ) $ 649 $ 1,701 $ (690 ) $ 1,011 (a) Actuarial gains (losses) are amortized into costs of sales and operating expenses or selling, general and administrative expenses as appropriate. (See Note 10 – Retirement Plans)

SEGMENT DATA

SEGMENT DATA	3 Months Ended
	Mar. 31, 2016
SEGMENT DATA [Abstract]
SEGMENT DATA	(7) SEGMENT DATA The Company’s operations are aggregated into two reportable business segments as follows: Marine Transportation Diesel Engine Services 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 the diesel engine services segment from the marine transportation segment of $4,384,000 and $7,360,000 for the three months ending March 31, 2016 and 2015, respectively, as well as the related intersegment profit of $438,000 and $736,000 for the three months ending March 31, 2016 and 2015, respectively, have been eliminated from the tables below. The following table sets forth the Company’s revenues and profit or loss by reportable segment for the three months ended March 31, 2016 and 2015 and total assets as of March 31, 2016 and December 31, 2015 (in thousands): Three months ended March 31, 2016 2015 Revenues: Marine transportation $ 378,343 $ 419,905 Diesel engine services 80,390 167,768 $ 458,733 $ 587,673 Segment profit (loss): Marine transportation $ 69,795 $ 96,269 Diesel engine services (806 ) 8,843 Other (7,646 ) (7,210 ) $ 61,343 $ 97,902 March 31, 2016 December 31, 2015 Total assets: Marine transportation $ 3,438,587 $ 3,451,553 Diesel engine services 618,924 637,549 Other 51,475 63,179 $ 4,108,986 $ 4,152,281 The following table presents the details of “Other” segment loss for the three months ended March 31, 2016 and 2015 (in thousands): Three months ended March 31, 2016 2015 General corporate expenses $ (3,655 ) $ (3,575 ) Gain on disposition of assets 67 1,555 Interest expense (4,193 ) (5,250 ) Other income 135 60 $ (7,646 ) $ (7,210 ) The following table presents the details of “Other” total assets as of March 31, 2016 and December 31, 2015 (in thousands): March 31, 2016 December 31, 2015 General corporate assets $ 49,250 $ 61,089 Investment in affiliates 2,225 2,090 $ 51,475 $ 63,179

TAXES ON INCOME

TAXES ON INCOME	3 Months Ended
	Mar. 31, 2016
TAXES ON INCOME [Abstract]
TAXES ON INCOME	(8) TAXES ON INCOME Earnings before taxes on income and details of the provision for taxes on income for the three months ended March 31, 2016 and 2015 were as follows (in thousands): Three months ended March 31, 2016 2015 Earnings before taxes on income – United States $ 61,343 $ 97,902 Provision for taxes on income: Federal: Current $ 6,440 $ 26,180 Deferred 14,713 7,482 State and local 1,706 2,829 $ 22,859 $ 36,491

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2016
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	(9) EARNINGS PER SHARE The following table presents the components of basic and diluted earnings per share for the three months ended March 31, 2016 and 2015 (in thousands, except per share amounts): Three months ended March 31, 2016 2015 Net earnings attributable to Kirby $ 38,099 $ 61,078 Undistributed earnings allocated to restricted shares (240 ) (345 ) Income available to Kirby common stockholders – basic 37,859 60,733 Undistributed earnings allocated to restricted shares 240 345 Undistributed earnings reallocated to restricted shares (239 ) (345 ) Income available to Kirby common stockholders – diluted $ 37,860 $ 60,733 Shares outstanding: Weighted average common stock issued and outstanding 53,780 55,897 Weighted average unvested restricted stock (338 ) (316 ) Weighted average common stock outstanding – basic 53,442 55,581 Dilutive effect of stock options 41 122 Weighted average common stock outstanding – diluted 53,483 55,703 Net earnings per share attributable to Kirby common stockholders: Basic $ 0.71 $ 1.09 Diluted $ 0.71 $ 1.09 Certain outstanding options to purchase approximately 542,000 and 234,000 shares of common stock were excluded in the computation of diluted earnings per share as of March 31, 2016 and 2015, respectively, as such stock options would have been antidilutive.

RETIREMENT PLANS

RETIREMENT PLANS	3 Months Ended
	Mar. 31, 2016
RETIREMENT PLANS [Abstract]
RETIREMENT PLANS	(10) RETIREMENT PLANS The Company sponsors a defined benefit plan for 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. The Company’s pension plan funding strategy has historically been to contribute an amount equal to the greater of the minimum required contribution under ERISA or the amount necessary to fully fund the plan on an accumulated benefit obligation (“ABO”) basis at the end of the fiscal year. The ABO is 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 expects to make a contribution between $15,000,000 and $20,000,000 to its pension plan prior to December 31, 2016 to fund its 2016 pension plan obligations. As of March 31, 2016, no 2016 year contributions have been made. 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 for the three months ended March 31, 2016 and 2015 were as follows (in thousands): Pension Benefits Pension Plan SERP Three months ended March 31, Three months ended March 31, 2016 2015 2016 2015 Components of net periodic benefit cost: Service cost $ 3,220 $ 3,830 $ — $ — Interest cost 3,412 3,354 16 16 Expected return on plan assets (4,153 ) (4,483 ) — — Amortization of actuarial loss 1,218 1,964 7 7 Net periodic benefit cost $ 3,697 $ 4,665 $ 23 $ 23 The components of net periodic benefit cost for the Company’s postretirement benefit plan for the three months ended March 31, 2016 and 2015 were as follows (in thousands): Other Postretirement Benefits Postretirement Welfare Plan Three months ended March 31, 2016 2015 Components of net periodic benefit cost: Service cost $ — $ — Interest cost 12 13 Amortization of actuarial gain (188 ) (173 ) Net periodic benefit cost $ (176 ) $ (160 )

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Mar. 31, 2016
CONTINGENCIES [Abstract]
CONTINGENCIES	(11) CONTINGENCIES On March 22, 2014, two tank barges and a towboat (the M/V Miss Susan), owned by Kirby Inland Marine, LP, a wholly owned subsidiary of the Company, were involved in a collision with the M/S Summer Wind on the Houston Ship Channel near Texas City, Texas. The lead tank barge was damaged in the collision resulting in a discharge of intermediate fuel oil from one of its cargo tanks. The United States Coast Guard (“USCG”) and the National Transportation Safety Board named the Company and the Captain of the M/V Miss Susan, as well as the owner and the pilot of the M/S Summer Wind, as parties of interest in their investigation as to the cause of the incident. Sea Galaxy Ltd is the owner of the M/S Summer Wind. The Company is participating in the natural resource damage assessment and restoration process with federal and state government natural resource trustees. The Company and the owner of the M/S Summer Wind filed actions in the U.S. District Court for the Southern District of Texas seeking exoneration from or limitation of liability relating to the foregoing incident as provided for in the federal rules of procedure for maritime claims. The two actions were consolidated for procedural purposes since they both arise out of the same occurrence. There is a separate process for making a claim under the Oil Pollution Act of 1990 (“OPA”). The Company is processing claims properly presented, documented and recoverable under OPA. The Company is named as a party in other lawsuits filed in connection with this incident which are currently stayed by orders entered into by the court in the limitation proceedings, some of which may also have been presented as claims in the limitation proceeding. The actions include allegation of business interruption, loss of profit, loss of use of natural resources and seek unspecified economic and compensatory damages. In addition, the Company has received claims from numerous parties claiming property damage and various economic damages. The Company has also been named as a defendant in a civil action by two crewmembers of the M/V Miss Susan, alleging damages under the general maritime law and the Jones Act. The litigation and claims process is ongoing. In December 2015, the Company submitted evidence in the liability trial in connection with the consolidated limitation actions. The damages phase of the trial was reset to the third quarter of 2016 in order to accommodate ongoing negotiation of the OPA claims filed in the limitation. The Company believes it has adequate insurance coverage for pollution, marine and other potential liabilities arising from the incident. The Company believes it has accrued adequate reserves for the incident and does not expect the incident to have a material adverse effect on its business or financial condition. In January 2015, the Company was named as a defendant in a Complaint filed in the U.S. District Court of the Southern District of Texas, USOR Site PRP Group vs. A&M Contractors, USES, Inc. et al. In June 2011, the Company as well as three other companies received correspondence from the EPA concerning ongoing cleanup and restoration activities under CERCLA with respect to a Superfund site, the Gulfco Marine Maintenance Site (“Gulfco”), located in Freeport, Texas. In prior years, various subsidiaries of the Company utilized a successor to Gulfco to perform tank barge cleaning services, sand blasting and repair on certain Company vessels. Since 2005, four named PRPs have participated in the investigation, cleanup and restoration of the site under an administrative order from EPA. Information provided by the PRPs indicates that approximately $9,943,000 was incurred in connection with the cleanup effort. The EPA has incurred oversight costs of approximately $2,258,000. The named PRPs filed suit against the Company and approximately 21 other defendants seeking contribution and indemnity under CERCLA for costs incurred in connection with their activities in cleaning up the Gulfco Site. The Company settled this matter with the Gulfco Restoration Group which the Company has funded in exchange for a dismissal with prejudice of claims in the pending litigation. On July 25, 2011, a subsidiary of the Company was named as a defendant in the U.S. District Court for the Southern District of Texas - Galveston Division, in a complaint styled Figgs. v. Kirby Inland Marine, LP, et al. The Company is also 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 business or financial condition. Management believes that it has recorded adequate reserves 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 $20,198,000 at March 31, 2016, including $6,229,000 in letters of credit and $13,969,000 in performance bonds. All of these instruments have an expiration date within four years. The Company does not believe demand for payment under these instruments is likely and expects no material cash outlays to occur in connection with these instruments.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
	Mar. 31, 2016
SUBSEQUENT EVENT [Abstract]
SUBSEQUENT EVENT	(12) SUBSEQUENT EVENT On April 15, 2016, the Company completed the purchase of the inland tank barge fleet of SEACOR Holdings Inc. (“Seacor”) from subsidiaries of Seacor for approximately $88,000,000 in cash. The assets purchased consisted of 27 inland 30,000 barrel tank barges and 13 inland towboats, as well as one 30,000 barrel tank barge and one towboat currently under construction. As part of the transaction, the Company transferred ownership to Seacor of a Florida-based ship docking tugboat. Seacor, through its subsidiary, SCF Waxler Marine LLC, transported refined petroleum products, petrochemicals and black oil on the Mississippi River System and the Gulf Intracoastal Waterway. The Company has not completed the final purchase price allocation at this time.

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2016
INVENTORIES [Abstract]
Schedule of Details of Inventories	The following table presents the details of inventories as of March 31, 2016 and December 31, 2015 (in thousands): March 31, 2016 December 31, 2015 Finished goods $ 172,495 $ 163,501 Work in process 14,435 21,010 $ 186,930 $ 184,511

STOCK AWARD PLANS (Tables)

STOCK AWARD PLANS (Tables)	3 Months Ended
	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Cost Breakdown in Statement of Earnings	The Company has share-based compensation plans which are described below. 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 for the three months ended March 31, 2016 and 2015 were as follows (in thousands): Three months ended March 31, 2016 2015 Compensation cost $ 2,584 $ 2,538 Income tax benefit $ 969 $ 949
Summary of Stock Option Valuation Assumptions	The fair value of each stock option was determined using the Black-Scholes option pricing model. The key input variables used in valuing the options during the three months ended March 31, 2016 and 2015 were as follows: Three months ended March 31, 2016 2015 Dividend yield None None Average risk-free interest rate 1.5 % 1.3 % Stock price volatility 29 % 33 % Estimated option term Six years Six years
Employee Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Stock Option Activity	The following is a summary of the stock option activity under the employee plan described above for the three months ended March 31, 2016: Outstanding Non- Qualified or Nonincentive Stock Awards Weighted Average Exercise Price Outstanding at December 31, 2015 430,432 $ 71.01 Granted 155,706 $ 51.23 Outstanding at March 31, 2016 586,138 $ 65.76
Summary of Outstanding and Exercisable Stock Options	The following table summarizes information about the Company’s outstanding and exercisable stock options under the employee plan at March 31, 2016: Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life in Years Weighted Average Exercise Price Aggregate Intrinsic Value Number Exercisable Weighted Average Exercise Price Aggregate Intrinsic Value $ 31.35 - $36.35 16,910 0.9 $ 32.82 16,910 $ 32.82 $ 46.74 - $51.23 212,335 5.5 $ 50.03 56,629 $ 46.74 $ 65.28 - $74.99 283,963 4.4 $ 70.98 209,485 $ 69.56 $ 93.64 - $96.85 35,763 4.8 $ 94.27 23,842 $ 94.27 $ 101.46 - $114.11 37,167 4.9 $ 103.22 24,107 $ 102.92 $ 31.35 - $114.11 586,138 4.8 $ 65.76 $ 2,643,000 330,973 $ 67.99 $ 1,232,000
Summary of Restricted Stock Award Activity	The following is a summary of the restricted stock award activity under the employee plan described above for the three months ended March 31, 2016: Unvested Restricted Stock Award Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2015 311,727 $ 75.73 Granted 157,880 $ 51.23 Vested (104,716 ) $ 69.92 Forfeited (6,479 ) $ 77.53 Nonvested balance at March 31, 2016 358,412 $ 66.60
Director Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Outstanding and Exercisable Stock Options	The following table summarizes information about the Company’s outstanding and exercisable stock options under the director plan at March 31, 2016: Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life in Years Weighted Average Exercise Price Aggregate Intrinsic Value Number Exercisable Weighted Average Exercise Price Aggregate Intrinsic Value $ 29.60 – $36.82 30,000 1.7 $ 33.60 30,000 $ 33.60 $ 41.24 – $56.45 71,276 4.1 $ 52.34 71,276 $ 52.34 $ 61.89 – $62.48 41,153 6.2 $ 62.34 41,153 $ 62.34 $ 75.17 – $99.52 78,000 7.0 $ 88.28 78,000 $ 88.28 $ 29.60 – $99.52 220,429 5.2 $ 64.37 $ 1,367,000 220,429 $ 64.37 $ 1,367,000
Summary of Restricted Stock Award Activity	The following is a summary of the restricted stock award activity under the director plan described above for the three months ended March 31, 2016: Unvested Restricted Stock Award Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2015 1,791 $ 68.73 Vested (284 ) $ 79.46 Nonvested balance at March 31, 2016 1,507 $ 66.71

OTHER COMPREHENSIVE INCOME (Tab

OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2016
OTHER COMPREHENSIVE INCOME [Abstract]
Schedule of Changes in Other Comprehensive Income	The Company’s changes in other comprehensive income for the three months ended March 31, 2016 and 2015 were as follows (in thousands): Three months ended March 31, 2016 2015 Gross Amount Income Tax (Provision) Benefit Net Amount Gross Amount Income Tax (Provision) Benefit Net Amount Pension and postretirement benefits (a): Amortization of net actuarial loss $ 1,037 $ (388 ) $ 649 $ 1,798 $ (690 ) $ 1,108 Actuarial gains — — — — — — Foreign currency translation adjustments — — — (97 ) — (97 ) Total $ 1,037 $ (388 ) $ 649 $ 1,701 $ (690 ) $ 1,011 (a) Actuarial gains (losses) are amortized into costs of sales and operating expenses or selling, general and administrative expenses as appropriate. (See Note 10 – Retirement Plans)

SEGMENT DATA (Tables)

SEGMENT DATA (Tables)	3 Months Ended
	Mar. 31, 2016
SEGMENT DATA [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table sets forth the Company’s revenues and profit or loss by reportable segment for the three months ended March 31, 2016 and 2015 and total assets as of March 31, 2016 and December 31, 2015 (in thousands): Three months ended March 31, 2016 2015 Revenues: Marine transportation $ 378,343 $ 419,905 Diesel engine services 80,390 167,768 $ 458,733 $ 587,673 Segment profit (loss): Marine transportation $ 69,795 $ 96,269 Diesel engine services (806 ) 8,843 Other (7,646 ) (7,210 ) $ 61,343 $ 97,902 March 31, 2016 December 31, 2015 Total assets: Marine transportation $ 3,438,587 $ 3,451,553 Diesel engine services 618,924 637,549 Other 51,475 63,179 $ 4,108,986 $ 4,152,281
Schedule of Other Segment Reporting Information	The following table presents the details of “Other” segment loss for the three months ended March 31, 2016 and 2015 (in thousands): Three months ended March 31, 2016 2015 General corporate expenses $ (3,655 ) $ (3,575 ) Gain on disposition of assets 67 1,555 Interest expense (4,193 ) (5,250 ) Other income 135 60 $ (7,646 ) $ (7,210 ) The following table presents the details of “Other” total assets as of March 31, 2016 and December 31, 2015 (in thousands): March 31, 2016 December 31, 2015 General corporate assets $ 49,250 $ 61,089 Investment in affiliates 2,225 2,090 $ 51,475 $ 63,179

TAXES ON INCOME (Tables)

TAXES ON INCOME (Tables)	3 Months Ended
	Mar. 31, 2016
TAXES ON INCOME [Abstract]
Earnings Before Taxes	Earnings before taxes on income and details of the provision for taxes on income for the three months ended March 31, 2016 and 2015 were as follows (in thousands): Three months ended March 31, 2016 2015 Earnings before taxes on income – United States $ 61,343 $ 97,902 Provision for taxes on income: Federal: Current $ 6,440 $ 26,180 Deferred 14,713 7,482 State and local 1,706 2,829 $ 22,859 $ 36,491

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2016
EARNINGS PER SHARE [Abstract]
Components of Basic and Diluted Earnings per Share	The following table presents the components of basic and diluted earnings per share for the three months ended March 31, 2016 and 2015 (in thousands, except per share amounts): Three months ended March 31, 2016 2015 Net earnings attributable to Kirby $ 38,099 $ 61,078 Undistributed earnings allocated to restricted shares (240 ) (345 ) Income available to Kirby common stockholders – basic 37,859 60,733 Undistributed earnings allocated to restricted shares 240 345 Undistributed earnings reallocated to restricted shares (239 ) (345 ) Income available to Kirby common stockholders – diluted $ 37,860 $ 60,733 Shares outstanding: Weighted average common stock issued and outstanding 53,780 55,897 Weighted average unvested restricted stock (338 ) (316 ) Weighted average common stock outstanding – basic 53,442 55,581 Dilutive effect of stock options 41 122 Weighted average common stock outstanding – diluted 53,483 55,703 Net earnings per share attributable to Kirby common stockholders: Basic $ 0.71 $ 1.09 Diluted $ 0.71 $ 1.09

RETIREMENT PLANS (Tables)

RETIREMENT PLANS (Tables)	3 Months Ended
	Mar. 31, 2016
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Components of Net Periodic Benefit Cost	The components of net periodic benefit cost for the Company’s defined benefit plans for the three months ended March 31, 2016 and 2015 were as follows (in thousands): Pension Benefits Pension Plan SERP Three months ended March 31, Three months ended March 31, 2016 2015 2016 2015 Components of net periodic benefit cost: Service cost $ 3,220 $ 3,830 $ — $ — Interest cost 3,412 3,354 16 16 Expected return on plan assets (4,153 ) (4,483 ) — — Amortization of actuarial loss 1,218 1,964 7 7 Net periodic benefit cost $ 3,697 $ 4,665 $ 23 $ 23
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Components of Net Periodic Benefit Cost	The components of net periodic benefit cost for the Company’s postretirement benefit plan for the three months ended March 31, 2016 and 2015 were as follows (in thousands): Other Postretirement Benefits Postretirement Welfare Plan Three months ended March 31, 2016 2015 Components of net periodic benefit cost: Service cost $ — $ — Interest cost 12 13 Amortization of actuarial gain (188 ) (173 ) Net periodic benefit cost $ (176 ) $ (160 )

ACCOUNTING STANDARDS ADOPTIONS

ACCOUNTING STANDARDS ADOPTIONS (Details)	Dec. 31, 2015USD ($)
ACCOUNTING STANDARDS ADOPTIONS [Abstract]
Reclassification of debt issuance cost from other assets to long term debt, less current portion	$ 3,985,000

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Details of inventories [Abstract]
Finished goods	$ 172,495	$ 163,501
Work in process	14,435	21,010
Inventory, Net, Total	$ 186,930	$ 184,511

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Estimated fair value of outstanding debt	$ 714,036,000	$ 764,781,000
Carrying amount of debt	$ 712,163,000	$ 774,849,000

STOCK AWARD PLANS (Details)

STOCK AWARD PLANS (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
STOCK AWARD PLANS [Abstract]
Compensation cost	$ 2,584,000	$ 2,538,000
Income tax benefit	$ 969,000	949,000
Stock Award Plan Information [Abstract]
Term of grant	7 years
Vesting period	3 years
Share based Compensation Plans Combined Disclosure [Abstract]
Stock options exercised (in shares)	0
Intrinsic value of stock options exercised		68,000
Tax benefit from stock options exercised		26,000
Intrinsic value of restricted stock vesting	$ 5,432,000	8,986,000
Tax benefit from restricted stock vesting	2,037,000	3,361,000
Fair value of options vested	2,469,000	2,167,000
Fair value of restricted stock vested	$ 5,432,000	$ 8,986,000
Fair value of stock options granted (in dollars per share)	$ 15.61	$ 25.18
Fair value of stock options granted	$ 2,430,000	$ 2,893,000
Employee Stock Award Plan [Member]
Stock Award Plan Information [Abstract]
Shares available for future grants (in shares)	2,022,131
Unvested Restricted Stock Award Shares [Roll Forward]
Nonvested balance beginning of period, Unvested Restricted Stock Award Shares (in shares)	311,727
Granted, Unvested Restricted Stock Award Shares (in shares)	157,880
Vested, Unvested Restricted Stock Award Shares (in shares)	(104,716)
Forfeited, Unvested Restricted Stock Award Shares (in shares)	(6,479)
Nonvested balance end of period, Unvested Restricted Stock Award Shares (in shares)	358,412
Weighted Average Grant Date Fair Value Per Share [Abstract]
Nonvested balance beginning of period, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	$ 75.73
Granted, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	51.23
Vested, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	69.92
Forfeited, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	77.53
Nonvested balance end of period, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	66.60
Employee Stock Award Plan [Member] | First Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, upper limit (in dollars per share)	36.35
Range of Exercise Prices, lower limit (in dollars per share)	$ 31.35
Options Outstanding [Abstract]
Number Outstanding (in shares)	16,910
Weighted Average Remaining Contractual Life	10 months 24 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 32.82
Options Exercisable [Abstract]
Number Exercisable (in shares)	16,910
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 32.82
Employee Stock Award Plan [Member] | Second Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, upper limit (in dollars per share)	51.23
Range of Exercise Prices, lower limit (in dollars per share)	$ 46.74
Options Outstanding [Abstract]
Number Outstanding (in shares)	212,335
Weighted Average Remaining Contractual Life	5 years 6 months
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 50.03
Options Exercisable [Abstract]
Number Exercisable (in shares)	56,629
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 46.74
Employee Stock Award Plan [Member] | Third Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, upper limit (in dollars per share)	74.99
Range of Exercise Prices, lower limit (in dollars per share)	$ 65.28
Options Outstanding [Abstract]
Number Outstanding (in shares)	283,963
Weighted Average Remaining Contractual Life	4 years 4 months 24 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 70.98
Options Exercisable [Abstract]
Number Exercisable (in shares)	209,485
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 69.56
Employee Stock Award Plan [Member] | Fourth Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, upper limit (in dollars per share)	96.85
Range of Exercise Prices, lower limit (in dollars per share)	$ 93.64
Options Outstanding [Abstract]
Number Outstanding (in shares)	35,763
Weighted Average Remaining Contractual Life	4 years 9 months 18 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 94.27
Options Exercisable [Abstract]
Number Exercisable (in shares)	23,842
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 94.27
Employee Stock Award Plan [Member] | Fifth Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, upper limit (in dollars per share)	114.11
Range of Exercise Prices, lower limit (in dollars per share)	$ 101.46
Options Outstanding [Abstract]
Number Outstanding (in shares)	37,167
Weighted Average Remaining Contractual Life	4 years 10 months 24 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 103.22
Options Exercisable [Abstract]
Number Exercisable (in shares)	24,107
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 102.92
Employee Stock Award Plan [Member] | Full Exercise Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, upper limit (in dollars per share)	114.11
Range of Exercise Prices, lower limit (in dollars per share)	$ 31.35
Options Outstanding [Abstract]
Number Outstanding (in shares)	586,138
Weighted Average Remaining Contractual Life	4 years 9 months 18 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 65.76
Aggregate Intrinsic Value, Options Outstanding	$ 2,643,000
Options Exercisable [Abstract]
Number Exercisable (in shares)	330,973
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 67.99
Aggregate Intrinsic Value, Options Exercisable	$ 1,232,000
2000 Director Plan [Member]
Stock Award Plan Information [Abstract]
Term of grant	10 years
Vesting period	6 months
Shares available for future grants (in shares)	539,531
Unvested Restricted Stock Award Shares [Roll Forward]
Nonvested balance beginning of period, Unvested Restricted Stock Award Shares (in shares)	1,791
Vested, Unvested Restricted Stock Award Shares (in shares)	(284)
Nonvested balance end of period, Unvested Restricted Stock Award Shares (in shares)	1,507
Weighted Average Grant Date Fair Value Per Share [Abstract]
Nonvested balance beginning of period, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	$ 68.73
Vested, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	79.46
Nonvested balance end of period, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	66.71
2000 Director Plan [Member] | First Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, upper limit (in dollars per share)	36.82
Range of Exercise Prices, lower limit (in dollars per share)	$ 29.60
Options Outstanding [Abstract]
Number Outstanding (in shares)	30,000
Weighted Average Remaining Contractual Life	1 year 8 months 12 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 33.60
Options Exercisable [Abstract]
Number Exercisable (in shares)	30,000
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 33.60
2000 Director Plan [Member] | Second Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, upper limit (in dollars per share)	56.45
Range of Exercise Prices, lower limit (in dollars per share)	$ 41.24
Options Outstanding [Abstract]
Number Outstanding (in shares)	71,276
Weighted Average Remaining Contractual Life	4 years 1 month 6 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 52.34
Options Exercisable [Abstract]
Number Exercisable (in shares)	71,276
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 52.34
2000 Director Plan [Member] | Third Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, upper limit (in dollars per share)	62.48
Range of Exercise Prices, lower limit (in dollars per share)	$ 61.89
Options Outstanding [Abstract]
Number Outstanding (in shares)	41,153
Weighted Average Remaining Contractual Life	6 years 2 months 12 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 62.34
Options Exercisable [Abstract]
Number Exercisable (in shares)	41,153
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 62.34
2000 Director Plan [Member] | Fourth Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, upper limit (in dollars per share)	99.52
Range of Exercise Prices, lower limit (in dollars per share)	$ 75.17
Options Outstanding [Abstract]
Number Outstanding (in shares)	78,000
Weighted Average Remaining Contractual Life	7 years
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 88.28
Options Exercisable [Abstract]
Number Exercisable (in shares)	78,000
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 88.28
2000 Director Plan [Member] | Full Exercise Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, upper limit (in dollars per share)	99.52
Range of Exercise Prices, lower limit (in dollars per share)	$ 29.60
Options Outstanding [Abstract]
Number Outstanding (in shares)	220,429
Weighted Average Remaining Contractual Life	5 years 2 months 12 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 64.37
Aggregate Intrinsic Value, Options Outstanding	$ 1,367,000
Options Exercisable [Abstract]
Number Exercisable (in shares)	220,429
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 64.37
Aggregate Intrinsic Value, Options Exercisable	$ 1,367,000
Performance Awards [Member] | Employee Stock Award Plan [Member]
Outstanding Non-Qualified or Nonincentive Stock Awards [Roll Forward]
Granted, Outstanding Non-Qualified or Nonincentive Stock Awards (in shares)	0
Stock Appreciation Rights [Member] | Employee Stock Award Plan [Member]
Outstanding Non-Qualified or Nonincentive Stock Awards [Roll Forward]
Outstanding at Period End, Outstanding Non-Qualified or Nonincentive Stock Awards (in shares)	0
Stock Options [Member]
Share based Compensation Plans Combined Disclosure [Abstract]
Unrecognized compensation cost related to unvested awards	$ 4,749,000
Weighted average period of recognition in years	1 year 7 months 6 days
Fair Value Assumptions [Abstract]
Dividend yield	0.00%	0.00%
Average risk-free interest rate	1.50%	1.30%
Stock price volatility	29.00%	33.00%
Estimated option term	6 years	6 years
Stock Options [Member] | Employee Stock Award Plan [Member]
Outstanding Non-Qualified or Nonincentive Stock Awards [Roll Forward]
Outstanding at Period Start, Outstanding Non-Qualified or Nonincentive Stock Awards (in shares)	430,432
Granted, Outstanding Non-Qualified or Nonincentive Stock Awards (in shares)	155,706
Outstanding at Period End, Outstanding Non-Qualified or Nonincentive Stock Awards (in shares)	586,138
Weighted Average Exercise Price [Abstract]
Outstanding at Period Start, Weighted Average Exercise Price (in dollars per share)	$ 71.01
Granted, Weighted Average Exercise Price (in dollars per share)	51.23
Outstanding at Period End, Weighted Average Exercise Price (in dollars per share)	$ 65.76
Restricted Stock [Member]
Share based Compensation Plans Combined Disclosure [Abstract]
Unrecognized compensation cost related to unvested awards	$ 22,560,000
Weighted average period of recognition in years	3 years 8 months 12 days

OTHER COMPREHENSIVE INCOME (Det

OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Pension and postretirement benefits [Abstract]
Amortization of net actuarial loss, Gross Amount	[1]	$ 1,037	$ 1,798
Amortization of net actuarial loss, Income Tax (Provision) Benefit	[1]	(388)	(690)
Amortization of net actuarial loss, Net Amount	[1]	649	1,108
Actuarial gains, Gross Amount	[1]	0	0
Actuarial gains, Income Tax (Provision) Benefit	[1]	0	0
Actuarial gains, Net Amount	[1]	0	0
Foreign currency translation adjustments, Gross Amount		0	(97)
Foreign currency translation adjustments, Income Tax (Provision) Benefit		0	0
Foreign currency translation adjustments, Net Amount		0	(97)
Total other comprehensive income, Gross Amount	[1]	1,037	1,701
Total other comprehensive income, Income Tax (Provision) Benefit	[1]	(388)	(690)
Total other comprehensive income, net of taxes	[1]	$ 649	$ 1,011
[1]	Actuarial gains (losses) are amortized into costs of sales and operating expenses or selling, general and administrative expenses as appropriate. (See Note 10 - Retirement Plans)

SEGMENT DATA (Details)

SEGMENT DATA (Details)	3 Months Ended
	Mar. 31, 2016USD ($)Segment	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
SEGMENT DATA [Abstract]
Number of reportable segments | Segment	2
Revenues [Abstract]
Marine transportation	$ 378,343,000	$ 419,905,000
Diesel engine services	80,390,000	167,768,000
Total revenues	458,733,000	587,673,000
Segment profit (loss)	61,343,000	97,902,000
Total assets	4,108,986,000		$ 4,152,281,000
Other segment disclosures [Abstract]
Gain on disposition of assets	67,000	1,555,000
Interest expense	(4,193,000)	(5,250,000)
Other income	135,000	60,000
Other [Member]
Revenues [Abstract]
Segment profit (loss)	(7,646,000)	(7,210,000)
Total assets	51,475,000		63,179,000
Other segment disclosures [Abstract]
General corporate expenses	(3,655,000)	(3,575,000)
Gain on disposition of assets	67,000	1,555,000
Interest expense	(4,193,000)	(5,250,000)
Other income	135,000	60,000
Profit (loss) from other segment	(7,646,000)	(7,210,000)
Details of "Other" total assets [Abstract]
General corporate assets	49,250,000		61,089,000
Investment in affiliates	2,225,000		2,090,000
Total other assets	51,475,000		63,179,000
Reporting Segments [Member]
Revenues [Abstract]
Marine transportation	378,343,000	419,905,000
Diesel engine services	80,390,000	167,768,000
Reporting Segments [Member] | Marine Transportation [Member]
Revenues [Abstract]
Segment profit (loss)	69,795,000	96,269,000
Total assets	3,438,587,000		3,451,553,000
Reporting Segments [Member] | Diesel Engine Services [Member]
Revenues [Abstract]
Segment profit (loss)	(806,000)	8,843,000
Total assets	618,924,000		$ 637,549,000
Intersegment Eliminations [Member] | Marine Transportation [Member]
Revenues [Abstract]
Total revenues	4,384,000	7,360,000
Segment profit (loss)	$ 438,000	$ 736,000

TAXES ON INCOME (Details)

TAXES ON INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
TAXES ON INCOME [Abstract]
Earnings before taxes on income - United States	$ 61,343	$ 97,902
Federal [Abstract]
Current	6,440	26,180
Deferred	14,713	7,482
State and local	1,706	2,829
Total Provision for taxes on income	$ 22,859	$ 36,491

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
EARNINGS PER SHARE [Abstract]
Net earnings attributable to Kirby	$ 38,099	$ 61,078
Undistributed earnings allocated to restricted shares	(240)	(345)
Income available to Kirby common stockholders - basic	37,859	60,733
Undistributed earnings allocated to restricted shares	240	345
Undistributed earnings reallocated to restricted shares	(239)	(345)
Income available to Kirby common stockholders - diluted	$ 37,860	$ 60,733
Shares Outstanding [Abstract]
Weighted average common stock issued and outstanding (in shares)	53,780,000	55,897,000
Weighted average unvested restricted stock (in shares)	(338,000)	(316,000)
Weighted average common stock outstanding - basic (in shares)	53,442,000	55,581,000
Dilutive effect of stock options (in shares)	41,000	122,000
Weighted average common stock outstanding - diluted (in shares)	53,483,000	55,703,000
Net earnings per share attributable to Kirby common stockholders [Abstract]
Basic (in dollars per share)	$ 0.71	$ 1.09
Diluted (in dollars per share)	$ 0.71	$ 1.09
Antidilutive securities excluded from computation of earnings per share (in shares)	542,000	234,000

RETIREMENT PLANS (Details)

RETIREMENT PLANS (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Pension plan defined benefit plan cost increase limit percentage	4.00%
Pension Benefits [Member]
Components of net periodic benefit cost [Abstract]
Service cost	$ 3,220,000	$ 3,830,000
Interest cost	3,412,000	3,354,000
Expected return on plan assets	(4,153,000)	(4,483,000)
Amortization of actuarial loss	1,218,000	1,964,000
Net periodic benefit cost	3,697,000	4,665,000
Pension Benefits [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan of asset contributions to pension plan obligations	15,000,000
Pension Benefits [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan of asset contributions to pension plan obligations	20,000,000
SERP [Member]
Components of net periodic benefit cost [Abstract]
Service cost	0	0
Interest cost	16,000	16,000
Expected return on plan assets	0	0
Amortization of actuarial loss	7,000	7,000
Net periodic benefit cost	23,000	23,000
Other Postretirement Benefits [Member]
Components of net periodic benefit cost [Abstract]
Service cost	0	0
Interest cost	12,000	13,000
Amortization of actuarial loss	(188,000)	(173,000)
Net periodic benefit cost	$ (176,000)	$ (160,000)

CONTINGENCIES (Details)

CONTINGENCIES (Details)	3 Months Ended
	Mar. 31, 2016USD ($)TankBargeLawsuitPlaintiffPotentiallyResponsiblePartyDefendant
Guarantor Obligations [Line Items]
Issued guaranties	$ 20,198,000
Maximum [Member]
Guarantor Obligations [Line Items]
Guarantor obligations, expiration period	P4Y
Performance Bonds [Member]
Guarantor Obligations [Line Items]
Issued guaranties	$ 13,969,000
Standby Letters Of Credit [Member]
Guarantor Obligations [Line Items]
Issued guaranties	$ 6,229,000
Gulfco Marine Superfund Site [Member]
Guarantor Obligations [Line Items]
Number of other companies also named as Potentially Responsible Parties ("PRPs") | PotentiallyResponsibleParty	3
Number of companies named as Potentially Responsible Parties ("PRPs") | PotentiallyResponsibleParty	4
EPA incurred cleanup expense	$ 9,943,000
EPA oversight costs	$ 2,258,000
Number of defendants seeking contribution and indemnity under CERCLA | Defendant	21
Collision with M/S Summer Wind [Member]
Loss Contingencies [Line Items]
Number of tank barges | TankBarge	1
Number of vessels damaged in collision resulting in fuel oil discharge | TankBarge	1
Number of actions filed against the Company | Lawsuit	2
Number of crewmembers alleging damages | Plaintiff	2

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - Subsequent Event [Member]	Apr. 15, 2016USD ($)TankBargeTowboatbbl
Subsequent Event [Line Items]
Purchase price | $	$ 88,000,000
Number of inland barrel tank barges | TankBarge	27
Barrel tank barges | bbl	30,000
Number of inland towboats | Towboat	13
Number of inland barrel tank barges under construction | TankBarge	1
Number of inland towboats under construction | Towboat	1