Kirby (KEX) 10-Q 8 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 05, 2017
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		54,006,000
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017

CONDENSED BALANCE SHEETS (Unaud

CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 2,756	$ 5,634
Accounts receivable:
Trade - less allowance for doubtful accounts	303,723	297,177
Other	85,684	95,327
Inventories - net	173,932	185,402
Prepaid expenses and other current assets	43,493	49,411
Total current assets	609,588	632,951
Property and equipment	4,360,892	4,328,897
Less accumulated depreciation	(1,444,895)	(1,407,523)
Property and equipment - net	2,915,997	2,921,374
Goodwill	598,131	598,131
Other assets	133,576	137,439
Total assets	4,257,292	4,289,895
Current liabilities:
Income taxes payable	6,393	3,288
Accounts payable	144,477	134,571
Accrued liabilities	154,143	184,478
Deferred revenues	28,523	36,001
Total current liabilities	333,536	358,338
Long-term debt - less current portion	674,552	722,802
Deferred income taxes	722,963	705,453
Other long-term liabilities	92,568	90,435
Total long-term liabilities	1,490,083	1,518,690
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	428,046	432,459
Accumulated other comprehensive income - net	(50,261)	(51,007)
Retained earnings	2,361,233	2,342,236
Treasury stock - at cost, 5,808,000 shares at March 31, 2017 and 5,921,000 at December 31, 2016	(314,826)	(320,348)
Total Kirby stockholders' equity	2,430,170	2,409,318
Noncontrolling interests	3,503	3,549
Total equity	2,433,673	2,412,867
Total liabilities and equity	$ 4,257,292	$ 4,289,895

CONDENSED BALANCE SHEETS (Unau3

CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Kirby stockholders' 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)	5,808,000	5,921,000

CONDENSED STATEMENTS OF EARNING

CONDENSED STATEMENTS OF EARNINGS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Marine transportation	$ 343,652	$ 378,343
Diesel engine services	148,053	80,390
Total revenues	491,705	458,733
Costs and expenses:
Costs of sales and operating expenses	345,296	288,910
Selling, general and administrative	46,118	50,461
Taxes, other than on income	6,649	5,404
Depreciation and amortization	48,170	48,624
Gain on disposition of assets	(99)	(67)
Total costs and expenses	446,134	393,332
Operating income	45,571	65,401
Other income (expense)	(116)	135
Interest expense	(4,457)	(4,193)
Earnings before taxes on income	40,998	61,343
Provision for taxes on income	(13,353)	(22,859)
Net earnings	27,645	38,484
Less: Net earnings attributable to noncontrolling interests	(162)	(385)
Net earnings attributable to Kirby	$ 27,483	$ 38,099
Net earnings per share attributable to Kirby common stockholders:
Basic (in dollars per share)	$ 0.51	$ 0.71
Diluted (in dollars per share)	$ 0.51	$ 0.71

CONDENSED STATEMENTS OF COMPREH

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract]
Net earnings	$ 27,645	$ 38,484
Other comprehensive income, net of taxes:
Pension and postretirement benefits	746	649
Total other comprehensive income, net of taxes	746	649
Total comprehensive income, net of taxes	28,391	39,133
Net earnings attributable to noncontrolling interests	(162)	(385)
Comprehensive income attributable to Kirby	$ 28,229	$ 38,748

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net earnings	$ 27,645	$ 38,484
Adjustments to reconcile net earnings to net cash provided by operations:
Depreciation and amortization	48,170	48,624
Provision for deferred income taxes	8,562	14,713
Amortization of unearned share-based compensation	2,693	2,584
Amortization of major maintenance costs	5,034	4,608
Amortization of debt issuance costs	200	200
Other	1,038	(342)
Increase (decrease) in cash flows resulting from changes in operating assets and liabilities, net	(8,140)	4,360
Net cash provided by operating activities	85,202	113,231
Cash flows from investing activities:
Capital expenditures	(45,765)	(50,523)
Proceeds from disposition of assets	7,958	297
Net cash used in investing activities	(37,807)	(50,226)
Cash flows from financing activities:
Payments on bank credit facilities, net	(48,451)	(62,886)
Proceeds from exercise of stock options	1,258	0
Purchase of treasury stock	0	(1,827)
Payments related to tax withholding for share-based compensation	(2,873)	(1,749)
Other	(207)	(711)
Net cash used in financing activities	(50,273)	(67,173)
Decrease in cash and cash equivalents	(2,878)	(4,168)
Cash and cash equivalents, beginning of year	5,634	5,885
Cash and cash equivalents, end of period	2,756	1,717
Supplemental disclosures of cash flow information:
Interest paid	8,856	8,743
Income taxes paid (refunded)	1,686	(412)
Capital expenditures included in accounts payable	$ (1,778)	$ (987)

BASIS FOR PREPARATION OF THE CO

BASIS FOR PREPARATION OF THE CONDENSED FINANCIAL STATEMENTS	3 Months Ended
	Mar. 31, 2017
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, 2016.

ACCOUNTING STANDARDS ADOPTIONS

ACCOUNTING STANDARDS ADOPTIONS	3 Months Ended
	Mar. 31, 2017
ACCOUNTING STANDARDS ADOPTIONS [Abstract]
ACCOUNTING STANDARDS ADOPTIONS	(2) ACCOUNTING STANDARDS ADOPTIONS In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-07, “Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” (“ASU 2017-07”) which requires employers to include only the service cost component of net periodic pension cost and net periodic postretirement benefit cost in operating expenses. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. The standard allows only the service cost component to be eligible for capitalization when applicable. ASU 2017-07 is effective for annual and interim periods beginning after December 15, 2017 with early adoption permitted. This standard shall be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively for the capitalization of the service cost benefit in assets. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” (“ASU 2017-04”) which simplifies the subsequent measurement of goodwill by eliminating Step 2 in the goodwill impairment test that required an entity to perform procedures to determine the fair value of its assets and liabilities at the testing date. An entity instead will perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying value and record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. ASU 2017-04 will be applied prospectively and is effective for annual and interim goodwill impairment tests conducted in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment testing dates after January 1, 2017. The Company is currently evaluating the impact, if any, that the adoption of this standard will have on its consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”) to create consistency in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for annual and interim periods beginning after December 15, 2017. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, “Compensation – Stock Compensation (Topic 718): 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. The Company adopted the provisions of ASU 2016-09 on January 1, 2017. ASU 2016-09 requires all excess tax benefits and tax deficiencies be recognized as income tax expense or benefit in the income statement, thus eliminating additional paid-in capital pools. The Company recognized a cumulative effect adjustment of $8,486,000 to retained earnings on a modified retrospective basis as of January 1, 2017 and will apply the new standard guidance prospectively to all excess tax benefits and tax deficiencies resulting from settlements after January 1, 2017. The standard also requires a policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The Company will elect to account for forfeitures when they occur. Also, the standard requires that excess tax benefits should be classified along with other income tax cash flows as an operating activity on the statement of cash flows, which differs from the Company’s historical classification of excess tax benefits as cash inflows from financing activities. The Company elected to apply this provision using the prospective transition method. Additionally, the standard requires cash paid by an employer when directly withholding shares for tax withholding purposes to be classified in the statement of cash flows as a financing activity, which differs from the Company’s previous method of classification of such cash payments as an operating activity. The Company applied this provision retrospectively and, for the three months ended March 31, 2016, reclassified $1,749,000, which increased net cash provided by operating activities and net cash used in financing activities. 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. A modified retrospective approach is required. The Company has formed a project team to evaluate the impact that the adoption of this standard will have on its consolidated financial statements and disclosures. The project team has completed training on the new standard and has started lease review and documentation, but the Company has not yet determined the effect of ASU 2016-02 on its ongoing financial reporting. 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. The guidance may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The Company adopted the provisions of ASU 2015-17 on January 1, 2017 on a retrospective basis. The December 31, 2016 current deferred tax assets of $13,604,000 have been reclassified in the consolidated balance sheet from current deferred income taxes asset to noncurrent deferred income taxes liability. 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 period or annual reporting period. The Company adopted the provisions of ASU 2015-11 on January 1, 2017 and, based on a lower of cost and net realizable value inventory analysis as of December 31, 2016, no adjustments to inventory value were required. The analysis reflected the inventory values are proper within the guidance of ASU 2015-11. 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, modified retrospective or prospective with a cumulative catch-up approach. The Company has formed a project team to evaluate the standard and determine the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The project team has completed training on the new standard and has started contract review and documentation. 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, 2017
INVENTORIES [Abstract]
INVENTORIES	(3) INVENTORIES The following table presents the details of inventories as of March 31, 2017 and December 31, 2016 (in thousands): March 31, 2017 December 31, 2016 Finished goods $ 159,605 $ 178,740 Work in process 14,327 6,662 $ 173,932 $ 185,402

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2017
FAIR VALUE MEASUREMENTS [Abstract]
FAIR VALUE MEASUREMENTS	(4) FAIR VALUE MEASUREMENTS The estimated fair value of total debt outstanding at March 31, 2017 and December 31, 2016 was $664,691,000 and $715,330,000, respectively, which differs from the carrying amounts of $674,552,000 and $722,802,000, 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, 2017, 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, 2017
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, 2017 and 2016 were as follows (in thousands): Three months ended March 31, 2017 2016 Compensation cost $ 2,693 $ 2,584 Income tax benefit $ 881 $ 969 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. Substantially all stock options outstanding under the plan have terms of seven years and vest ratably over three years. No performance awards payable in stock have been awarded under the plan. At March 31, 2017, 1,745,801 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, 2017: Outstanding Non- Qualified or Nonincentive Stock Awards Weighted Average Exercise Price Outstanding at December 31, 2016 601,121 $ 65.33 Granted 121,908 $ 68.50 Exercised (16,910 ) $ 32.82 Outstanding at March 31, 2017 706,119 $ 66.66 The following table summarizes information about the Company’s outstanding and exercisable stock options under the employee plan at March 31, 2017: 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 $ 46.74 - $51.23 212,335 4.5 $ 50.03 108,531 $ 48.89 $ 64.89 - $74.99 424,643 4.7 $ 69.78 237,022 $ 70.31 $ 93.64 - $96.85 33,987 3.8 $ 94.31 33,987 $ 94.31 $ 101.46 - $104.37 35,154 3.9 $ 102.60 35,154 $ 102.60 $ 46.74 - $104.37 706,119 4.6 $ 66.66 $ 5,155,000 414,694 $ 69.41 $ 2,724,000 The following is a summary of the restricted stock award activity under the employee plan described above for the three months ended March 31, 2017: Unvested Restricted Stock Award Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2016 377,655 $ 66.14 Granted 120,820 $ 68.50 Vested (105,207 ) $ 68.90 Forfeited (1,017 ) $ 64.20 Nonvested balance at March 31, 2017 392,251 $ 66.13 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, 2017, 522,457 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. The following is a summary of the stock option activity under the director plan described above for the three months ended March 31, 2017: Outstanding Non- Qualified or Nonincentive Stock Options Weighted Average Exercise Price Outstanding at December 31, 2016 205,429 $ 64.60 Exercised (27,000 ) $ 45.28 Outstanding at March 31, 2017 178,429 $ 67.53 The following table summarizes information about the Company’s outstanding and exercisable stock options under the director plan at March 31, 2017: 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 6,000 2.1 $ 29.60 6,000 $ 29.60 $ 41.24 – $56.45 65,276 2.6 $ 51.96 65,276 $ 51.96 $ 61.89 – $62.48 35,153 5.3 $ 62.31 35,153 $ 62.31 $ 75.17 – $99.52 72,000 6.0 $ 87.35 72,000 $ 87.35 $ 29.60 – $99.52 178,429 4.3 $ 67.53 $ 1,749,000 178,429 $ 67.53 $ 1,749,000 The following is a summary of the restricted stock award activity under the director plan described above for the three months ended March 31, 2017: Unvested Restricted Stock Award Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2016 347 $ 64.89 Vested (347 ) $ 64.89 Nonvested balance at March 31, 2017 — $ — The total intrinsic value of all stock options exercised under all of the Company’s plans was $1,267,000 for the three months ended March 31, 2017. No stock options were exercised under the Company’s plans during the three months ended March 31, 2016. The actual tax benefit realized for tax deductions from stock option exercises was $414,000 for the three months ended March 31, 2017. The total intrinsic value of all the restricted stock vestings under all of the Company’s plans was $6,989,000 and $5,432,000 for the three months ended March 31, 2017 and 2016, respectively. The actual tax benefit realized for tax deductions from restricted stock vestings was $2,285,000 and $2,037,000 for the three months ended March 31, 2017 and 2016, respectively. As of March 31, 2017, there was $5,245,000 of unrecognized compensation cost related to nonvested stock options and $24,268,000 related to restricted stock. The stock options are expected to be recognized over a weighted average period of approximately 2.0 years and restricted stock over approximately 3.7 years. The total fair value of options vested was $2,473,000 and $2,469,000 during the three months ended March 31, 2017 and 2016, respectively. The fair value of the restricted stock vested was $6,989,000 and $5,432,000 for the three months ended March 31, 2017 and 2016, respectively. The weighted average per share fair value of stock options granted during the three months ended March 31, 2017 and 2016 was $20.65 and $15.61, respectively. The fair value of the stock options granted during the three months ended March 31, 2017 and 2016 was $2,517,000 and $2,430,000, 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, 2017 and 2016 were as follows: Three months ended March 31, 2017 2016 Dividend yield None None Average risk-free interest rate 2.0 % 1.5 % Stock price volatility 27 % 29 % Estimated option term Six years Six years

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME	3 Months Ended
	Mar. 31, 2017
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, 2017 and 2016 were as follows (in thousands): Three months ended March 31, 2017 2016 Pension and postretirement benefits (a): Gross Amount Income Tax (Provision) Benefit Net Amount Gross Amount Income Tax (Provision) Benefit Net Amount Amortization of net actuarial loss $ 1,209 $ (463 ) $ 746 $ 1,037 $ (388 ) $ 649 Actuarial gains — — — — — — Total $ 1,209 $ (463 ) $ 746 $ 1,037 $ (388 ) $ 649 (a) Actuarial 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, 2017
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, and 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 $5,430,000 and $4,384,000 for the three months ending March 31, 2017 and 2016, respectively, as well as the related intersegment profit of $543,000 and $438,000 for the three months ending March 31, 2017 and 2016, 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, 2017 and 2016 and total assets as of March 31, 2017 and December 31, 2016 (in thousands): Three months ended March 31, 2017 2016 Revenues: Marine transportation $ 343,652 $ 378,343 Diesel engine services 148,053 80,390 $ 491,705 $ 458,733 Segment profit (loss): Marine transportation $ 35,254 $ 69,795 Diesel engine services 13,734 (806 ) Other (7,990 ) (7,646 ) $ 40,998 $ 61,343 March 31, 2017 December 31, 2016 Total assets: Marine transportation $ 3,571,254 $ 3,613,951 Diesel engine services 636,758 623,268 Other 49,280 52,676 $ 4,257,292 $ 4,289,895 The following table presents the details of “Other” segment loss for the three months ended March 31, 2017 and 2016 (in thousands): Three months ended March 31, 2017 2016 General corporate expenses $ (3,516 ) $ (3,655 ) Gain on disposition of assets 99 67 Interest expense (4,457 ) (4,193 ) Other income (expense) (116 ) 135 $ (7,990 ) $ (7,646 ) The following table presents the details of “Other” total assets as of March 31, 2017 and December 31, 2016 (in thousands): March 31, 2017 December 31, 2016 General corporate assets $ 47,593 $ 50,054 Investment in affiliates 1,687 2,622 $ 49,280 $ 52,676

TAXES ON INCOME

TAXES ON INCOME	3 Months Ended
	Mar. 31, 2017
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, 2017 and 2016 were as follows (in thousands): Three months ended March 31, 2017 2016 Earnings before taxes on income – United States $ 40,998 $ 61,343 Provision for taxes on income: Federal: Current $ 3,934 $ 6,440 Deferred 8,562 14,713 State and local 857 1,706 $ 13,353 $ 22,859 ASU 2016-09 requires that excess tax benefits and tax deficiencies related to share-based compensation be recognized as income tax expense or benefit in the income statement as discrete items in the reporting period in which they occur. This requirement was applied on a prospective basis to the tax effects of exercised or vested stock awards during the three months ending March 31, 2017. This resulted in a decrease in the provision for taxes on income of $2,090,000 for the three months ended March 31, 2017.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2017
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, 2017 and 2016 (in thousands, except per share amounts): Three months ended March 31, 2017 2016 Net earnings attributable to Kirby $ 27,483 $ 38,099 Undistributed earnings allocated to restricted shares (190 ) (240 ) Income available to Kirby common stockholders – basic 27,293 37,859 Undistributed earnings allocated to restricted shares 190 240 Undistributed earnings reallocated to restricted shares (189 ) (239 ) Income available to Kirby common stockholders – diluted $ 27,294 $ 37,860 Shares outstanding: Weighted average common stock issued and outstanding 53,914 53,780 Weighted average unvested restricted stock (372 ) (338 ) Weighted average common stock outstanding – basic 53,542 53,442 Dilutive effect of stock options 67 41 Weighted average common stock outstanding – diluted 53,609 53,483 Net earnings per share attributable to Kirby common stockholders: Basic $ 0.51 $ 0.71 Diluted $ 0.51 $ 0.71 Certain outstanding options to purchase approximately 487,000 and 542,000 shares of common stock were excluded in the computation of diluted earnings per share as of March 31, 2017 and 2016, respectively, as such stock options would have been antidilutive.

RETIREMENT PLANS

RETIREMENT PLANS	3 Months Ended
	Mar. 31, 2017
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. 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 who will be grandfathered and not be impacted are those, as of the close of business on May 31, 2017, who either (a) have completed 15 years of pension service or (b) have attained age 50 and completed 10 years of pension service. Participants who are non-grandfathered will be eligible to receive discretionary 401(k) plan contributions. The Company does not expect any one-time charges related to this amendment but does expect the plan amendment to reduce the pension plan’s projected benefit obligation. The Company is in the process of having its actuary remeasure its pension plan obligations. 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 its pension plan during 2017. 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, 2017 and 2016 were as follows (in thousands): Pension Benefits Pension Plan SERP Three months ended March 31, Three months ended March 31, Components of net periodic benefit cost: 2017 2016 2017 2016 Service cost $ 4,327 $ 3,220 $ — $ — Interest cost 3,680 3,412 14 16 Expected return on plan assets (4,437 ) (4,153 ) — — Amortization of actuarial loss 1,369 1,218 7 7 Net periodic benefit cost $ 4,939 $ 3,697 $ 21 $ 23 The components of net periodic benefit cost for the Company’s postretirement benefit plan for the three months ended March 31, 2017 and 2016 were as follows (in thousands): Other Postretirement Benefits Postretirement Welfare Plan Three months ended March 31, 2017 2016 Components of net periodic benefit cost: Service cost $ — $ — Interest cost 7 12 Amortization of actuarial gain (167 ) (188 ) Net periodic benefit cost $ (160 ) $ (176 )

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Mar. 31, 2017
CONTINGENCIES [Abstract]
CONTINGENCIES	(11) CONTINGENCIES On October 13, 2016, the tug Nathan E. Stewart and barge DBL 55, an articulated tank barge and tugboat unit (“ATB”), 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 (“USCG”) and the National Transportation Safety Board (“NTSB”) 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 are also investigating the cause of the incident. The Company is subject to claims from third parties as well as the provincial and federal government as a result of the incident. 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. 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 USCG and the NTSB 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. Multiple parties filed claims in limitation seeking various damages under the Oil Pollution Act of 1990 (“OPA”), including claims for business interruption, loss of profit and loss of use of natural resources (OPA claimants). On November 2, 2016, the Company, the M/S Summer Wind and its owners and the OPA claimants entered into a settlement agreement pursuant to which the parties have resolved their respective claims against one another. The dismissal of the OPA claims was entered by the Court on November 14, 2016. On March 22, 2017, the deadline for claimants to file claims under OPA passed as the three year statute of limitations expired. 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 Company is defending the civil action in the proceeding in Galveston Civil District Court. 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. 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 $13,593,000 at March 31, 2017, including $4,034,000 in letters of credit and $9,559,000 in performance bonds. All of these instruments have an expiration date within three 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.

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2017
INVENTORIES [Abstract]
Schedule of Details of Inventories	The following table presents the details of inventories as of March 31, 2017 and December 31, 2016 (in thousands): March 31, 2017 December 31, 2016 Finished goods $ 159,605 $ 178,740 Work in process 14,327 6,662 $ 173,932 $ 185,402

STOCK AWARD PLANS (Tables)

STOCK AWARD PLANS (Tables)	3 Months Ended
	Mar. 31, 2017
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, 2017 and 2016 were as follows (in thousands): Three months ended March 31, 2017 2016 Compensation cost $ 2,693 $ 2,584 Income tax benefit $ 881 $ 969
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, 2017 and 2016 were as follows: Three months ended March 31, 2017 2016 Dividend yield None None Average risk-free interest rate 2.0 % 1.5 % Stock price volatility 27 % 29 % 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, 2017: Outstanding Non- Qualified or Nonincentive Stock Awards Weighted Average Exercise Price Outstanding at December 31, 2016 601,121 $ 65.33 Granted 121,908 $ 68.50 Exercised (16,910 ) $ 32.82 Outstanding at March 31, 2017 706,119 $ 66.66
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, 2017: 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 $ 46.74 - $51.23 212,335 4.5 $ 50.03 108,531 $ 48.89 $ 64.89 - $74.99 424,643 4.7 $ 69.78 237,022 $ 70.31 $ 93.64 - $96.85 33,987 3.8 $ 94.31 33,987 $ 94.31 $ 101.46 - $104.37 35,154 3.9 $ 102.60 35,154 $ 102.60 $ 46.74 - $104.37 706,119 4.6 $ 66.66 $ 5,155,000 414,694 $ 69.41 $ 2,724,000
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, 2017: Unvested Restricted Stock Award Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2016 377,655 $ 66.14 Granted 120,820 $ 68.50 Vested (105,207 ) $ 68.90 Forfeited (1,017 ) $ 64.20 Nonvested balance at March 31, 2017 392,251 $ 66.13
Director 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 director plan described above for the three months ended March 31, 2017: Outstanding Non- Qualified or Nonincentive Stock Options Weighted Average Exercise Price Outstanding at December 31, 2016 205,429 $ 64.60 Exercised (27,000 ) $ 45.28 Outstanding at March 31, 2017 178,429 $ 67.53
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, 2017: 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 6,000 2.1 $ 29.60 6,000 $ 29.60 $ 41.24 – $56.45 65,276 2.6 $ 51.96 65,276 $ 51.96 $ 61.89 – $62.48 35,153 5.3 $ 62.31 35,153 $ 62.31 $ 75.17 – $99.52 72,000 6.0 $ 87.35 72,000 $ 87.35 $ 29.60 – $99.52 178,429 4.3 $ 67.53 $ 1,749,000 178,429 $ 67.53 $ 1,749,000
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, 2017: Unvested Restricted Stock Award Shares Weighted Average Grant Date Fair Value Per Share Nonvested balance at December 31, 2016 347 $ 64.89 Vested (347 ) $ 64.89 Nonvested balance at March 31, 2017 — $ —

OTHER COMPREHENSIVE INCOME (Tab

OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2017
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, 2017 and 2016 were as follows (in thousands): Three months ended March 31, 2017 2016 Pension and postretirement benefits (a): Gross Amount Income Tax (Provision) Benefit Net Amount Gross Amount Income Tax (Provision) Benefit Net Amount Amortization of net actuarial loss $ 1,209 $ (463 ) $ 746 $ 1,037 $ (388 ) $ 649 Actuarial gains — — — — — — Total $ 1,209 $ (463 ) $ 746 $ 1,037 $ (388 ) $ 649 (a) Actuarial 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, 2017
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, 2017 and 2016 and total assets as of March 31, 2017 and December 31, 2016 (in thousands): Three months ended March 31, 2017 2016 Revenues: Marine transportation $ 343,652 $ 378,343 Diesel engine services 148,053 80,390 $ 491,705 $ 458,733 Segment profit (loss): Marine transportation $ 35,254 $ 69,795 Diesel engine services 13,734 (806 ) Other (7,990 ) (7,646 ) $ 40,998 $ 61,343 March 31, 2017 December 31, 2016 Total assets: Marine transportation $ 3,571,254 $ 3,613,951 Diesel engine services 636,758 623,268 Other 49,280 52,676 $ 4,257,292 $ 4,289,895
Schedule of Other Segment Reporting Information	The following table presents the details of “Other” segment loss for the three months ended March 31, 2017 and 2016 (in thousands): Three months ended March 31, 2017 2016 General corporate expenses $ (3,516 ) $ (3,655 ) Gain on disposition of assets 99 67 Interest expense (4,457 ) (4,193 ) Other income (expense) (116 ) 135 $ (7,990 ) $ (7,646 ) The following table presents the details of “Other” total assets as of March 31, 2017 and December 31, 2016 (in thousands): March 31, 2017 December 31, 2016 General corporate assets $ 47,593 $ 50,054 Investment in affiliates 1,687 2,622 $ 49,280 $ 52,676

TAXES ON INCOME (Tables)

TAXES ON INCOME (Tables)	3 Months Ended
	Mar. 31, 2017
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, 2017 and 2016 were as follows (in thousands): Three months ended March 31, 2017 2016 Earnings before taxes on income – United States $ 40,998 $ 61,343 Provision for taxes on income: Federal: Current $ 3,934 $ 6,440 Deferred 8,562 14,713 State and local 857 1,706 $ 13,353 $ 22,859

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2017
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, 2017 and 2016 (in thousands, except per share amounts): Three months ended March 31, 2017 2016 Net earnings attributable to Kirby $ 27,483 $ 38,099 Undistributed earnings allocated to restricted shares (190 ) (240 ) Income available to Kirby common stockholders – basic 27,293 37,859 Undistributed earnings allocated to restricted shares 190 240 Undistributed earnings reallocated to restricted shares (189 ) (239 ) Income available to Kirby common stockholders – diluted $ 27,294 $ 37,860 Shares outstanding: Weighted average common stock issued and outstanding 53,914 53,780 Weighted average unvested restricted stock (372 ) (338 ) Weighted average common stock outstanding – basic 53,542 53,442 Dilutive effect of stock options 67 41 Weighted average common stock outstanding – diluted 53,609 53,483 Net earnings per share attributable to Kirby common stockholders: Basic $ 0.51 $ 0.71 Diluted $ 0.51 $ 0.71

RETIREMENT PLANS (Tables)

RETIREMENT PLANS (Tables)	3 Months Ended
	Mar. 31, 2017
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, 2017 and 2016 were as follows (in thousands): Pension Benefits Pension Plan SERP Three months ended March 31, Three months ended March 31, Components of net periodic benefit cost: 2017 2016 2017 2016 Service cost $ 4,327 $ 3,220 $ — $ — Interest cost 3,680 3,412 14 16 Expected return on plan assets (4,437 ) (4,153 ) — — Amortization of actuarial loss 1,369 1,218 7 7 Net periodic benefit cost $ 4,939 $ 3,697 $ 21 $ 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, 2017 and 2016 were as follows (in thousands): Other Postretirement Benefits Postretirement Welfare Plan Three months ended March 31, 2017 2016 Components of net periodic benefit cost: Service cost $ — $ — Interest cost 7 12 Amortization of actuarial gain (167 ) (188 ) Net periodic benefit cost $ (160 ) $ (176 )

ACCOUNTING STANDARDS ADOPTIONS

ACCOUNTING STANDARDS ADOPTIONS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
ASU 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect on retained earnings	$ 8,486
Effect of change on operating activities and financing activities	$ 1,749
ASU 2015-17 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of deferred income taxes		$ 13,604

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Details of inventories [Abstract]
Finished goods	$ 159,605	$ 178,740
Work in process	14,327	6,662
Inventory, Net, Total	$ 173,932	$ 185,402

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
FAIR VALUE MEASUREMENTS [Abstract]
Estimated fair value of outstanding debt	$ 664,691	$ 715,330
Carrying amount of debt	$ 674,552	$ 722,802

STOCK AWARD PLANS (Details)

STOCK AWARD PLANS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
STOCK AWARD PLANS [Abstract]
Compensation cost	$ 2,693	$ 2,584
Income tax benefit	881	969
Share based Compensation Plans Combined Disclosure [Abstract]
Intrinsic value of stock options exercised	1,267	0
Tax benefit from stock options exercised	414
Intrinsic value of restricted stock vesting	6,989	5,432
Tax benefit from restricted stock vesting	2,285	2,037
Fair value of options vested	2,473	2,469
Fair value of restricted stock vested	$ 6,989	$ 5,432
Fair value of stock options granted (in dollars per share)	$ 20.65	$ 15.61
Fair value of stock options granted	$ 2,517	$ 2,430
Stock Options [Member]
Share based Compensation Plans Combined Disclosure [Abstract]
Unrecognized compensation cost related to unvested awards	$ 5,245
Weighted average period of recognition in years	2 years
Fair Value Assumptions [Abstract]
Dividend yield	0.00%	0.00%
Average risk-free interest rate	2.00%	1.50%
Stock price volatility	27.00%	29.00%
Estimated option term	6 years	6 years
Restricted Stock [Member]
Share based Compensation Plans Combined Disclosure [Abstract]
Unrecognized compensation cost related to unvested awards	$ 24,268
Weighted average period of recognition in years	3 years 8 months 12 days
Employee Stock Award Plan [Member]
Stock Award Plan Information [Abstract]
Term of grant	7 years
Vesting period	3 years
Shares available for future grants (in shares)	1,745,801
Employee Stock Award Plan [Member] | Stock Options [Member]
Outstanding Non-Qualified or Nonincentive Stock Awards [Roll Forward]
Outstanding at Period Start, (in shares)	601,121
Granted (in shares)	121,908
Exercised (in shares)	(16,910)
Outstanding at Period End (in shares)	706,119
Weighted Average Exercise Price [Abstract]
Outstanding at Period Start (in dollars per share)	$ 65.33
Granted (in dollars per share)	68.50
Exercised (in dollars per share)	32.82
Outstanding at Period End (in dollars per share)	66.66
Employee Stock Award Plan [Member] | Stock Options [Member] | First 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	4 years 6 months
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 50.03
Options Exercisable [Abstract]
Number Exercisable (in shares)	108,531
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 48.89
Employee Stock Award Plan [Member] | Stock Options [Member] | Second 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)	$ 64.89
Options Outstanding [Abstract]
Number Outstanding (in shares)	424,643
Weighted Average Remaining Contractual Life	4 years 8 months 12 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 69.78
Options Exercisable [Abstract]
Number Exercisable (in shares)	237,022
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 70.31
Employee Stock Award Plan [Member] | Stock Options [Member] | Third 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)	33,987
Weighted Average Remaining Contractual Life	3 years 9 months 18 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 94.31
Options Exercisable [Abstract]
Number Exercisable (in shares)	33,987
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 94.31
Employee Stock Award Plan [Member] | Stock Options [Member] | Fourth Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, upper limit (in dollars per share)	104.37
Range of Exercise Prices, lower limit (in dollars per share)	$ 101.46
Options Outstanding [Abstract]
Number Outstanding (in shares)	35,154
Weighted Average Remaining Contractual Life	3 years 10 months 24 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 102.60
Options Exercisable [Abstract]
Number Exercisable (in shares)	35,154
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 102.60
Employee Stock Award Plan [Member] | Stock Options [Member] | Full Exercise Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, upper limit (in dollars per share)	104.37
Range of Exercise Prices, lower limit (in dollars per share)	$ 46.74
Options Outstanding [Abstract]
Number Outstanding (in shares)	706,119
Weighted Average Remaining Contractual Life	4 years 7 months 6 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 66.66
Aggregate Intrinsic Value, Options Outstanding	$ 5,155
Options Exercisable [Abstract]
Number Exercisable (in shares)	414,694
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 69.41
Aggregate Intrinsic Value, Options Exercisable	$ 2,724
Employee Stock Award Plan [Member] | Restricted Stock [Member]
Unvested Restricted Stock Award Shares [Roll Forward]
Nonvested balance beginning of period (in shares)	377,655
Granted (in shares)	120,820
Vested (in shares)	(105,207)
Forfeited (in shares)	(1,017)
Nonvested balance end of period (in shares)	392,251
Weighted Average Grant Date Fair Value Per Share [Abstract]
Nonvested balance beginning of period (in dollars per share)	$ 66.14
Granted (in dollars per share)	68.50
Vested (in dollars per share)	68.90
Forfeited (in dollars per share)	64.20
Nonvested balance end of period (in dollars per share)	$ 66.13
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)	522,457
2000 Director Plan [Member] | Stock Options [Member]
Outstanding Non-Qualified or Nonincentive Stock Awards [Roll Forward]
Outstanding at Period Start, (in shares)	205,429
Exercised (in shares)	(27,000)
Outstanding at Period End (in shares)	178,429
Weighted Average Exercise Price [Abstract]
Outstanding at Period Start (in dollars per share)	$ 64.60
Exercised (in dollars per share)	45.28
Outstanding at Period End (in dollars per share)	67.53
2000 Director Plan [Member] | Stock Options [Member] | First Price Range [Member]
Outstanding and Exercisable Stock options [Abstract]
Range of Exercise Prices, lower limit (in dollars per share)	$ 29.60
Options Outstanding [Abstract]
Number Outstanding (in shares)	6,000
Weighted Average Remaining Contractual Life	2 years 1 month 6 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 29.60
Options Exercisable [Abstract]
Number Exercisable (in shares)	6,000
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 29.60
2000 Director Plan [Member] | Stock Options [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)	65,276
Weighted Average Remaining Contractual Life	2 years 7 months 6 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 51.96
Options Exercisable [Abstract]
Number Exercisable (in shares)	65,276
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 51.96
2000 Director Plan [Member] | Stock Options [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)	35,153
Weighted Average Remaining Contractual Life	5 years 3 months 18 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 62.31
Options Exercisable [Abstract]
Number Exercisable (in shares)	35,153
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 62.31
2000 Director Plan [Member] | Stock Options [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)	72,000
Weighted Average Remaining Contractual Life	6 years
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 87.35
Options Exercisable [Abstract]
Number Exercisable (in shares)	72,000
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 87.35
2000 Director Plan [Member] | Stock Options [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)	178,429
Weighted Average Remaining Contractual Life	4 years 3 months 18 days
Weighted Average Exercise Price, Options Outstanding (in dollars per share)	$ 67.53
Aggregate Intrinsic Value, Options Outstanding	$ 1,749
Options Exercisable [Abstract]
Number Exercisable (in shares)	178,429
Weighted Average Exercise Price, Options Exercisable (in dollars per share)	$ 67.53
Aggregate Intrinsic Value, Options Exercisable	$ 1,749
2000 Director Plan [Member] | Restricted Stock [Member]
Unvested Restricted Stock Award Shares [Roll Forward]
Nonvested balance beginning of period (in shares)	347
Vested (in shares)	(347)
Nonvested balance end of period (in shares)	0
Weighted Average Grant Date Fair Value Per Share [Abstract]
Nonvested balance beginning of period (in dollars per share)	$ 64.89
Vested (in dollars per share)	64.89
Nonvested balance end of period (in dollars per share)	$ 0

OTHER COMPREHENSIVE INCOME (Det

OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Pension and postretirement benefits [Abstract]
Amortization of net actuarial loss, Gross Amount	[1]	$ 1,209	$ 1,037
Amortization of net actuarial loss, Income Tax (Provision) Benefit	[1]	(463)	(388)
Amortization of net actuarial loss, Net Amount	[1]	746	649
Actuarial gains, Gross Amount	[1]	0	0
Actuarial gains, Income Tax (Provision) Benefit	[1]	0	0
Actuarial gains, Net Amount	[1]	0	0
Total other comprehensive income (loss), Gross Amount		1,209	1,037
Total other comprehensive income (loss), Income Tax (Provision) Benefit		(463)	(388)
Total other comprehensive income, net of taxes		$ 746	$ 649
[1]	Actuarial 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) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)Segment	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)
SEGMENT DATA [Abstract]
Number of reportable segments | Segment	2
Revenues [Abstract]
Marine transportation	$ 343,652	$ 378,343
Diesel engine services	148,053	80,390
Total revenues	491,705	458,733
Segment profit (loss)	40,998	61,343
Total assets	4,257,292		$ 4,289,895
Other segment disclosures [Abstract]
Gain on disposition of assets	99	67
Interest expense	(4,457)	(4,193)
Other income (expense)	(116)	135
Reporting Segments [Member] | Marine Transportation [Member]
Revenues [Abstract]
Marine transportation	343,652	378,343
Segment profit (loss)	35,254	69,795
Total assets	3,571,254		3,613,951
Reporting Segments [Member] | Diesel Engine Services [Member]
Revenues [Abstract]
Diesel engine services	148,053	80,390
Segment profit (loss)	13,734	(806)
Total assets	636,758		623,268
Intersegment Eliminations [Member] | Marine Transportation [Member]
Revenues [Abstract]
Total revenues	5,430	4,384
Segment profit (loss)	543	438
Other [Member]
Revenues [Abstract]
Segment profit (loss)	(7,990)	(7,646)
Total assets	49,280		52,676
Other segment disclosures [Abstract]
General corporate expenses	(3,516)	(3,655)
Gain on disposition of assets	99	67
Interest expense	(4,457)	(4,193)
Other income (expense)	(116)	135
Loss from other segment	(7,990)	$ (7,646)
Details of "Other" total assets [Abstract]
General corporate assets	47,593		50,054
Investment in affiliates	1,687		2,622
Total other assets	$ 49,280		$ 52,676

TAXES ON INCOME (Details)

TAXES ON INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
TAXES ON INCOME [Abstract]
Earnings before taxes on income - United States	$ 40,998	$ 61,343
Federal [Abstract]
Current	3,934	6,440
Deferred	8,562	14,713
State and local	857	1,706
Total Provision for taxes on income	13,353	$ 22,859
ASU 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease in provision for taxes on income	$ (2,090)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
EARNINGS PER SHARE [Abstract]
Net earnings attributable to Kirby	$ 27,483	$ 38,099
Undistributed earnings allocated to restricted shares	(190)	(240)
Income available to Kirby common stockholders - basic	27,293	37,859
Undistributed earnings allocated to restricted shares	190	240
Undistributed earnings reallocated to restricted shares	(189)	(239)
Income available to Kirby common stockholders - diluted	$ 27,294	$ 37,860
Shares Outstanding [Abstract]
Weighted average common stock issued and outstanding (in shares)	53,914	53,780
Weighted average unvested restricted stock (in shares)	(372)	(338)
Weighted average common stock outstanding - basic (in shares)	53,542	53,442
Dilutive effect of stock options (in shares)	67	41
Weighted average common stock outstanding - diluted (in shares)	53,609	53,483
Net earnings per share attributable to Kirby common stockholders [Abstract]
Basic (in dollars per share)	$ 0.51	$ 0.71
Diluted (in dollars per share)	$ 0.51	$ 0.71
Antidilutive securities excluded from computation of earnings per share (in shares)	487	542

RETIREMENT PLANS (Details)

RETIREMENT PLANS (Details) - USD ($) $ in Thousands	Apr. 12, 2017	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Pension plan defined benefit plan cost increase limit percentage		4.00%
Subsequent Event [Member]
Components of net periodic benefit cost [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
Pension Benefits [Member]
Components of net periodic benefit cost [Abstract]
Service cost		$ 4,327	$ 3,220
Interest cost		3,680	3,412
Expected return on plan assets		(4,437)	(4,153)
Amortization of actuarial (gain) loss		1,369	1,218
Net periodic benefit cost		4,939	3,697
SERP [Member]
Components of net periodic benefit cost [Abstract]
Service cost		0	0
Interest cost		14	16
Expected return on plan assets		0	0
Amortization of actuarial (gain) loss		7	7
Net periodic benefit cost		21	23
Other Postretirement Benefits [Member]
Components of net periodic benefit cost [Abstract]
Service cost		0	0
Interest cost		7	12
Amortization of actuarial (gain) loss		(167)	(188)
Net periodic benefit cost		$ (160)	$ (176)

CONTINGENCIES (Details)

CONTINGENCIES (Details) $ in Thousands	Mar. 22, 2017	Mar. 31, 2017USD ($)LawsuitPlaintiff	Mar. 22, 2014TankBarge
Guarantor Obligations [Line Items]
Issued guaranties		$ 13,593
Maximum [Member]
Guarantor Obligations [Line Items]
Guarantor obligations, expiration period		3 years
Performance Bonds [Member]
Guarantor Obligations [Line Items]
Issued guaranties		$ 9,559
Collision with M/S Summer Wind [Member]
Loss Contingencies [Line Items]
Number of tank barges | TankBarge			2
Number of vessels damaged in collision resulting in fuel oil discharge | TankBarge			1
Number of actions filed against the Company | Lawsuit		2
Claims expiration period under OPA	3 years
Number of crewmembers alleging damages | Plaintiff		2
Letters Of Credit [Member]
Guarantor Obligations [Line Items]
Issued guaranties		$ 4,034