Kirby (KEX) 10-Q 8 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 07, 2020
Cover [Abstract]
Entity Registrant Name	KIRBY CORP
Entity Central Index Key	0000056047
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		60,038,000
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	1-7615
Entity Tax Identification Number	74-1884980
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	55 Waugh Drive, Suite 1000
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77007
City Area Code	713
Local Phone Number	435-1000
Title of 12(b) Security	Common Stock
Trading Symbol	KEX
Security Exchange Name	NYSE

CONDENSED BALANCE SHEETS (Unaud

CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 322,571	$ 24,737
Accounts receivable:
Trade - less allowance for doubtful accounts	389,616	379,174
Other	253,688	104,175
Inventories - net	341,498	351,401
Prepaid expenses and other current assets	60,640	58,092
Total current assets	1,368,013	917,579
Property and equipment	5,366,596	5,324,090
Accumulated depreciation	(1,589,812)	(1,546,980)
Property and equipment - net	3,776,784	3,777,110
Operating lease right-of-use assets	157,333	159,641
Goodwill	704,098	953,826
Other intangibles - net	73,694	210,682
Other assets	57,655	60,259
Total assets	6,137,577	6,079,097
Current liabilities:
Bank notes payable	17	16
Income taxes payable	698	665
Accounts payable	227,020	206,778
Accrued liabilities	205,667	236,350
Current portion of operating lease liabilities	25,903	27,324
Deferred revenues	37,027	42,982
Total current liabilities	496,332	514,115
Long-term debt, net - less current portion	1,702,476	1,369,751
Deferred income taxes	582,150	588,204
Operating lease liabilities - less current portion	138,884	139,457
Other long-term liabilities	93,208	95,978
Total long-term liabilities	2,516,718	2,193,390
Contingencies and commitments
Kirby stockholders' equity:
Common stock, $0.10 par value per share. Authorized 120,000,000 shares, issued 65,472,000 shares	6,547	6,547
Additional paid-in capital	837,879	835,899
Accumulated other comprehensive income - net	(38,991)	(37,799)
Retained earnings	2,617,471	2,865,939
Treasury stock - at cost, 5,475,000 shares at March 31, 2020 and 5,513,000 at December 31, 2019	(301,424)	(301,963)
Total Kirby stockholders' equity	3,121,482	3,368,623
Noncontrolling interests	3,045	2,969
Total equity	3,124,527	3,371,592
Total liabilities and equity	$ 6,137,577	$ 6,079,097

CONDENSED BALANCE SHEETS (Una_2

CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
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)	65,472,000	65,472,000
Treasury stock, shares (in shares)	5,475,000	5,513,000

CONDENSED STATEMENTS OF EARNING

CONDENSED STATEMENTS OF EARNINGS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Total revenues	$ 643,926	$ 744,621
Costs and expenses:
Costs of sales and operating expenses	453,568	536,655
Selling, general and administrative	72,080	72,796
Taxes, other than on income	11,406	9,998
Depreciation and amortization	55,786	55,223
Impairments and other charges	433,341	0
Gain on disposition of assets	(492)	(2,157)
Total costs and expenses	1,025,689	672,515
Operating income (loss)	(381,763)	72,106
Other income (expense)	2,723	(568)
Interest expense	(12,799)	(13,201)
Earnings (loss) before taxes on income	(391,839)	58,337
(Provision) benefit for taxes on income	143,649	(13,880)
Net earnings (loss)	(248,190)	44,457
Less: Net earnings attributable to noncontrolling interests	(278)	(161)
Net earnings (loss) attributable to Kirby	$ (248,468)	$ 44,296
Net earnings (loss) per share attributable to Kirby common stockholders:
Basic (in dollars per share)	$ (4.15)	$ 0.74
Diluted (in dollars per share)	$ (4.15)	$ 0.74
Marine Transportation [Member]
Revenues:
Total revenues	$ 403,257	$ 368,121
Distribution and Services [Member]
Revenues:
Total revenues	$ 240,669	$ 376,500

CONDENSED STATEMENTS OF COMPREH

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract]
Net earnings (loss)	$ (248,190)	$ 44,457
Other comprehensive income (loss), net of taxes:
Pension and postretirement benefits	82	411
Foreign currency translation adjustments	(1,274)	129
Total other comprehensive income (loss), net of taxes	(1,192)	540
Total comprehensive income (loss), net of taxes	(249,382)	44,997
Net earnings attributable to noncontrolling interests	(278)	(161)
Comprehensive income (loss) attributable to Kirby	$ (249,660)	$ 44,836

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net earnings (loss)	$ (248,190)	$ 44,457
Adjustments to reconcile net earnings (loss) to net cash provided by operations:
Depreciation and amortization	55,786	55,223
Provision (benefit) for deferred income taxes	(6,082)	12,490
Impairments and other charges	433,341	0
Amortization of unearned share-based compensation	5,331	4,900
Amortization of major maintenance costs	7,103	4,974
Other	112	(1,778)
Decrease in cash flows resulting from changes in operating assets and liabilities, net	(175,900)	(81,737)
Net cash provided by operating activities	71,501	38,529
Cash flows from investing activities:
Capital expenditures	(49,225)	(60,932)
Acquisitions of businesses and marine equipment	(60,422)	(247,470)
Proceeds from disposition of assets	3,993	13,187
Net cash used in investing activities	(105,654)	(295,215)
Cash flows from financing activities:
Borrowings (payments) on bank credit facilities, net	485,001	(240,801)
Borrowings on long-term debt	0	500,000
Payments on long-term debt	(150,000)	0
Payments of debt issue costs	0	(2,232)
Proceeds from exercise of stock options	353	1,415
Payments related to tax withholding for share-based compensation	(3,165)	(2,003)
Other	(202)	(204)
Net cash provided by (used in) financing activities	331,987	256,175
Increase (decrease) in cash and cash equivalents	297,834	(511)
Cash and cash equivalents, beginning of year	24,737	7,800
Cash and cash equivalents, end of period	322,571	7,289
Cash paid (received) during the period:
Interest paid	21,734	23,257
Income taxes refunded	(160)	(1,024)
Operating cash outflow from operating leases	9,738	10,142
Non-cash investing activity:
Capital expenditures included in accounts payable	(2,707)	(5,022)
Right-of-use assets obtained in exchange for lease obligations	$ 4,677	$ 1,292

CONDENSED STATEMENTS OF STOCKHO

CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive, Net Income [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Noncontrolling Interests [Member]	Total
Beginning balance at Dec. 31, 2018	$ 6,547	$ 823,347	$ (33,511)	$ 2,723,592	$ (306,788)	$ 3,114	$ 3,216,301
Beginning balance (in shares) at Dec. 31, 2018	65,472				(5,608)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises	$ 0	52	0	0	$ 1,364	0	1,416
Stock option exercises (in shares)	0				25
Issuance of stock for equity awards, net of forfeitures	$ 0	(802)	0	0	$ 802	0	0
Issuance of stock for equity awards, net of forfeitures (in shares)	0				14
Tax withholdings on equity award vesting	$ 0	0	0	0	$ (2,003)	0	(2,003)
Tax withholdings on equity award vesting (in shares)	0				(30)
Amortization of unearned share-based compensation	$ 0	4,900	0	0	$ 0	0	4,900
Total comprehensive income (loss), net of taxes	0	0	540	44,296	0	161	44,997
Return of investment to noncontrolling interests	0	0	0	0	0	(203)	(203)
Ending balance at Mar. 31, 2019	$ 6,547	827,497	(32,971)	2,767,888	$ (306,625)	3,072	3,265,408
Ending balance (in shares) at Mar. 31, 2019	65,472				(5,599)
Beginning balance at Dec. 31, 2019	$ 6,547	835,899	(37,799)	2,865,939	$ (301,963)	2,969	3,371,592
Beginning balance (in shares) at Dec. 31, 2019	65,472				(5,513)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises		26	0	0	$ 327	0	353
Stock option exercises (in shares)	0				15
Issuance of stock for equity awards, net of forfeitures		(3,377)	0	0	$ 3,377	0	0
Issuance of stock for equity awards, net of forfeitures (in shares)	0				61
Tax withholdings on equity award vesting		0	0	0	$ (3,165)	0	(3,165)
Tax withholdings on equity award vesting (in shares)					(38)
Amortization of unearned share-based compensation	$ 0	5,331	0	0	$ 0	0	5,331
Total comprehensive income (loss), net of taxes	0	0	(1,192)	(248,468)	0	278	(249,382)
Return of investment to noncontrolling interests	0	0	0	0	0	(202)	(202)
Ending balance at Mar. 31, 2020	$ 6,547	$ 837,879	$ (38,991)	$ 2,617,471	$ (301,424)	$ 3,045	$ 3,124,527
Ending balance (in shares) at Mar. 31, 2020	65,472				(5,475)

Basis for Preparation of the Co

Basis for Preparation of the Condensed Financial Statements	3 Months Ended
	Mar. 31, 2020
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 and its consolidated subsidiaries (the “Company”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Although the Company believes that the disclosures are adequate to make the information presented not misleading, certain information and footnote disclosures, including significant accounting policies normally included in annual financial statements, have been condensed or omitted pursuant to such rules and regulations. It is suggested that these condensed financial statements be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Certain reclassifications have been made to reflect the current presentation of financial information.

Accounting Standards Adoptions

Accounting Standards Adoptions	3 Months Ended
	Mar. 31, 2020
Accounting Standards Adoptions [Abstract]
Accounting Standards Adoptions	(2) Accounting Standards Adoptions In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating this guidance to determine the impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, “Compensation – Retirement Benefits - Defined Benefit Plans – General (Subtopic 715-20): Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans” which amends the annual disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by removing certain requirements, providing clarification on existing requirements and adding new requirements including adding an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. The guidance is effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The amendments in this update are required to be applied on a retrospective basis to all periods presented. The Company is currently evaluating this guidance to determine the impact on its disclosures. 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 shall 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. The Company adopted ASU 2017-04 on January 1, 2020 on a prospective basis. See Note 8, Impairments and Other Charges for further details.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2020
Acquisitions [Abstract]
Acquisitions	(3) Acquisitions During the three months ended March 31, 2020 , the Company purchased newly constructed inland pressure barges for $ in cash. On January the Company completed the acquisition of substantially all the assets of Convoy Servicing Company and Agility Fleet Services, LLC (collectively “Convoy”) for in cash, reduced by a receivable due from Convoy of recorded for post-closing adjustments that was settled in April 2020. Convoy is an authorized dealer for Thermo King refrigeration systems for trucks, railroad cars and other land transportation markets for North and East Texas and Colorado. The fair values of the assets acquired and liabilities assumed from Convoy recorded at the acquisition date were as follows (in thousands): Assets: Accounts receivable $ 5,677 Inventories 11,771 Prepaid expenses 177 Property and equipment 415 Operating lease right-of-use assets 3,713 Goodwill 10,309 Other intangibles 17,170 Total assets 49,232 Liabilities: Accounts payable and accrued liabilities 8,339 Current portion of operating lease liabilities 793 Other long-term liabilities 2,920 Total liabilities 12,052 Net assets acquired $ 37,180 The Company acquired intangible assets with a weighted average amortization period of years, consisting of for customer relationships with an amortization period of years, for distributorships with an amortization period of years and for non-compete agreements with an amortization period of . Pro forma results of the acquisitions made in the quarter have not been presented as the pro forma revenues and net earnings attributable to Kirby would not be materially different from the Company’s actual results.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2020
Revenues [Abstract]
Revenues	(4) Revenues The following table sets forth the Company’s revenues by major source (in thousands): Three months ended March 31 2020 2019 Marine transportation segment: Inland transportation $ 318,565 $ 283,085 Coastal transportation 84,692 85,036 $ 403,257 $ 368,121 Distribution and services segment: Oil and gas $ 78,678 $ 223,101 Commercial and industrial 161,991 153,399 $ 240,669 $ 376,500 Contract Assets and Liabilities The Company applies the practical expedient that allows non-disclosure of information about remaining performance obligations that have original expected durations of one year or less.

Segment Data

Segment Data	3 Months Ended
	Mar. 31, 2020
Segment Data [Abstract]
Segment Data	(5) S The Company’s operations are aggregated into two reportable business segments as follows: Marine Transportation Distribution and 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 distribution and services segment from the marine transportation segment of $10,286,000 and $7,535,000 for the three months ended March 31, 2020 and 2019, respectively, as well as the related intersegment profit of $1,029,000 and $754,000 for the three months ending March 31, 2020 and 2019, respectively, have been eliminated from the tables below. The following tables set forth the Company’s revenues and profit or loss by reportable segment and total assets (in thousands): Three months ended March 31 2020 2019 Revenues: Marine transportation $ 403,257 $ 368,121 Distribution and services 240,669 376,500 $ 643,926 $ 744,621 Segment profit (loss): Marine transportation $ 50,716 $ 35,424 Distribution and services 3,718 37,609 Other (446,273 ) (14,696 ) $ (391,839 ) $ 58,337 March 31 2020 December 31 2019 Total assets: Marine transportation $ 4,565,489 $ 4,536,368 Distribution and services 1,015,924 1,422,394 Other 556,164 120,335 $ 6,137,577 $ 6,079,097 The following table presents the details of “Other” segment loss (in thousands): Three months ended March 31 2020 2019 General corporate expenses $ (3,348 ) $ (3,084 ) Interest expense (12,799 ) (13,201 ) Impairments and other charges (433,341 ) — Gain on disposition of assets 492 2,157 Other income (expense) 2,723 (568 ) $ (446,273 ) $ (14,696 ) The following table presents the details of “Other” total assets (in thousands): March 31 2020 December 31 2019 General corporate assets $ 553,965 $ 118,310 Investment in affiliates 2,199 2,025 $ 556,164 $ 120,335

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2020
Long-Term Debt [Abstract]
Long-Term Debt	(6) Long-Term Debt The Company has an amended and restated credit agreement (the “Credit Agreement”) with a group of commercial banks, with JPMorgan Chase Bank, N.A. as the administrative agent bank, allowing for an $850,000,000 unsecured revolving credit facility (“Revolving Credit Facility”) and an unsecured term loan (“Term Loan”) with a maturity date of March 27, 2024. The Term Loan is repayable in quarterly installments currently scheduled to commence September 30, 2023, with $343,750,000 due on March 27, 2024. The Term Loan is prepayable, in whole or in part, without penalty. As of March 31, 2020, the Company had outstanding borrowings of $485,000,000 and availability of $359,637,000 under the Revolving Credit Facility and borrowings of $375,000,000 under the Term Loan. The interest rates under the Revolving Credit Facility and Term Loan were 1.9% and 2.1%, respectively, at March 31, 2020. On February 27, 2020, upon maturity, the Company repaid in full $150,000,000 of 2.72% unsecured senior notes. The estimated fair value of total debt outstanding at March and December 31, 2019 was $ and $ , respectively, which differs from the carrying amount of $ and $ , respectively, included in the consolidated financial statements. The fair value of debt outstanding was determined using inputs characteristic of a Level 2 fair value measurement.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	(7) Leases The Company currently leases various facilities and equipment under cancelable and noncancelable operating leases. The accounting for the Company’s leases may require judgments, which include determining whether a contract contains a lease, allocated between lease and non-lease components, and determining the incremental borrowing rates. Leases with an initial noncancelable term of 12 months or less are not recorded on the balance sheet and related lease expense is recognized on a straight-line basis over the lease term. The Company has also elected to combine lease and non-lease components on all classes of leased assets, except for leased towing vessels for which the Company estimates approximately 75% of the costs relate to service costs and other non-lease components. Variable lease costs relate primarily to real estate executory costs (i.e. taxes, insurance and maintenance). Future minimum lease payments under operating leases that have initial noncancelable lease terms in excess of one year were as follows (in thousands): March 31, December 31, 2020 2019 2020 $ 25,421 $ 33,374 2021 27,479 25,911 2022 24,551 23,098 2023 20,492 19,162 2024 16,591 15,330 Thereafter 94,868 92,991 Total lease payments 209,402 209,866 Less: imputed interest (44,615 ) (43,085 ) Operating lease liabilities $ 164,787 $ 166,781 The following table sets forth lease costs (in thousands): Three months ended March 31 2020 2019 Operating lease cost $ 9,041 $ 10,078 Variable lease cost 152 516 Short-term lease cost 8,277 7,892 Sublease income (244 ) (240 ) Total lease cost $ 17,226 $ 18,246 The following table summarizes other supplemental information about the Company’s operating leases: March 31, December 31, 2020 2019 Weighted average discount rate 4.0 % 4.0 % Weighted average remaining lease term 11 years 11 years

Impairments and Other Charges

Impairments and Other Charges	3 Months Ended
	Mar. 31, 2020
Impairments and Other Charges [Abstract]
Impairments and Other Charges	(8) Impairments and Other Charges During the quarter, Kirby’s market capitalization declined significantly compared to the quarter. Over the same period, the overall United States stock market also declined significantly amid market volatility. In addition, as a result of uncertainty surrounding the outbreak of COVID- and a sharp decline in oil prices during the quarter, many of the Company’s oil and gas customers responded by quickly cutting capital spending budgets and activity levels quickly declined. Lower activity levels have resulted in a decline in drilling activity, resulting in lower demand for new and remanufactured oilfield equipment and related parts and service in the distribution and services segment. As a result, the Company concluded that a triggering event had occurred and performed interim quantitative impairment tests as of March for certain of the distribution and services segment’s long-lived assets and goodwill. The Company determined the estimated fair value of such long-lived assets and reporting units using a discounted cash flow analysis and a market approach for comparable companies. This analysis included management’s judgment regarding short-term and long-term internal forecasts, updated for recent events, appropriate discount rates, and capital expenditures using inputs characteristic of a Level fair value measurement. In performing the impairment test of long-lived assets within the distribution and services segment, the Company determined that the carrying value of certain long-lived assets, including property and equipment as well as intangible assets associated with customer relationships, tradenames, and distributorships, were no longer recoverable, resulting in an impairment charge of to reduce such long-lived assets to fair value. Based upon the results of the goodwill impairment test, the Company concluded that the carrying value of reporting unit in the distribution and services segment exceeded its estimated fair value. The goodwill impairment charge of was calculated as the amount that the carrying value of the reporting unit, including goodwill, and after recording impairments of long-lived assets identified above, exceeded its estimated fair value. In addition, the Company determined cost exceeded net realizable value for certain oilfield and pressure pumping related inventory, resulting in an non-cash write-down. The following table summarizes the changes in goodwill (in thousands): Marine Transportation Distribution and Services Total Balance at December (gross) $ 424,149 $ 549,846 $ 973,995 Accumulated impairment and amortization (18,574 ) (1,595 ) (20,169 ) Balance at December 405,575 548,251 953,826 Impairment — (260,037 ) (260,037 ) Convoy acquisition — 10,309 10,309 Balance at March (gross) 424,149 560,155 984,304 Accumulated impairment and amortization (18,574 ) (261,632 ) (280,206 ) Balance at March $ 405,575 $ 298,523 $ 704,098

Stock Award Plans

Stock Award Plans	3 Months Ended
	Mar. 31, 2020
Stock Award Plans [Abstract]
Stock Award Plans	(9) Stock Award Plans During the three months ended March 31, 2020, the Company granted 151,845 restricted stock units (“RSUs”) and 114,600 stock options to selected officers and other key employees under its employee stock award plan. The RSUs vest ratably over five years and the stock options become exercisable ratably over three years and expire after seven years. During May 2020, the Company granted 39,913 shares of restricted stock to nonemployee directors of the Company under the director stock award plan. The restricted stock vests six months after the date of grant except that restricted stock granted in lieu of cash director fees vests in equal quarterly increments through March 31, 2021. The compensation cost that has been charged against earnings for the Company’s stock award plans and the income tax benefit recognized in the statement of earnings for stock awards were as follows (in thousands): Three months ended March 31, 2020 2019 Compensation cost $ 5,331 $ 4,900 Income tax benefit $ 1,262 $ 1,169

Taxes on Income

Taxes on Income	3 Months Ended
	Mar. 31, 2020
Taxes on Income [Abstract]
Taxes on Income	(10) Taxes on Income On March the United States Congress passed and the President signed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) into law to address the COVID- pandemic. One provision of the CARES Act allows net operating losses generated in through to be carried back up to . Pursuant to this provision of the CARES Act, the Company recorded a federal current benefit for taxes on income for the months ended March due to carrying back net operating losses generated between and used to offset taxable income generated between 2013 and 2017 This caused a reduction in the effective tax rate during the months ended March as net operating losses carried back to tax years through are applied at a federal tax rate of applicable to those tax years, compared to a tax rate effective at March As a result, during the months ended March the Company’s deferred tax asset related to federal net operating losses decreased by Earnings (loss) before taxes on income and details of the provision (benefit) for taxes on income were as follows (in s): Three months ended March 31, 2020 2019 Earnings (loss) before taxes on income: United States $ (391,556 ) $ 58,752 Foreign (283 ) (415 ) $ (391,839 ) $ 58,337 Provision (benefit) for taxes on income: Federal: Current $ (137,696 ) $ — Deferred 2,813 12,490 State and local: Current 82 1,459 Deferred (8,895 ) — Foreign - current 47 (69 ) $ (143,649 ) $ 13,880

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	(11) E The following table presents the components of basic and diluted earnings (loss) per share (in thousands, except per share amounts): Three months ended March 31 2020 2019 Net earnings (loss) attributable to Kirby $ (248,468 ) $ 44,296 Undistributed earnings allocated to restricted shares — (119 ) Income (loss) available to Kirby common stockholders – basic (248,468 ) 44,177 Undistributed earnings allocated to restricted shares — 119 Undistributed earnings reallocated to restricted shares — (119 ) Income (loss) available to Kirby common stockholders – diluted $ (248,468 ) $ 44,177 Shares outstanding: Weighted average common stock issued and outstanding 59,983 59,869 Weighted average unvested restricted stock (100 ) (160 ) Weighted average common stock outstanding – basic 59,883 59,709 Dilutive effect of stock options and restricted stock units — 114 Weighted average common stock outstanding – diluted 59,883 59,823 Net earnings (loss) per share attributable to Kirby common stockholders: Basic $ (4.15 ) $ 0.74 Diluted $ (4.15 ) $ 0.74 Certain outstanding options to purchase approximately 681,000 and 479,000 shares of common stock were excluded in the computation of diluted earnings per share as of March 31, 2020 and 2019, respectively, as such stock options would have been antidilutive. Certain outstanding RSUs to convert to 344,000 and 1,000 shares of common stock were also excluded in the computation of diluted earnings per share as of March 31, 2020 and 2019, respectively, as such RSUs would have been antidilutive.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2020
Inventories [Abstract]
Inventories	(12) Inventories The following table presents the details of inventories – net (in thousands) March 31 2020 December 31 2019 Finished goods $ 274,770 $ 291,214 Work in process 66,728 60,187 $ 341,498 $ 351,401

Retirement Plans

Retirement Plans	3 Months Ended
	Mar. 31, 2020
Retirement Plans [Abstract]
Retirement Plans	(13) R The Company sponsors a defined benefit plan for certain of its inland vessel personnel and shore based tankermen. The plan benefits are based on an employee’s years of service and compensation. The plan assets consist primarily of equity and fixed income securities. On April 12, 2017, the Company amended its pension plan to cease all benefit accruals for periods after May 31, 2017 for certain participants. Participants grandfathered and not impacted were those, as of the close of business on May 31, 2017, who either (a) had completed 15 years of pension service or (b) had attained age 50 and completed 10 years of pension service. Participants non-grandfathered are eligible to receive discretionary 401(k) plan contributions. The Company’s pension plan funding strategy is to make annual contributions in amounts equal to or greater than amounts necessary to meet minimum government funding requirements. The plan’s benefit obligations are based on a variety of demographic and economic assumptions, and the pension plan assets’ returns are subject to various risks, including market and interest rate risk, making an accurate prediction of the pension plan contribution difficult. Based on current pension plan assets and market conditions, the Company does not expect to make a contribution to the Kirby pension plan during 2020. On February 14, 2018, with the acquisition of Higman Marine, Inc. and its affiliated companies (“Higman”), the Company assumed Higman’s pension plan for its inland vessel personnel and office staff. On March 27, 2018, the Company amended the Higman pension plan to close it to all new entrants and cease all benefit accruals for periods after May 15, 2018 for all participants. The Company made a contribution of $483,000 to the Higman pension plan in the 2020 first quarter for the 2019 plan year. In addition, the Company made a contribution of $479,000 to the Higman pension plan during April 2020 for the 2020 plan year. The Company expects to make an additional contribution of $314,000 to the Higman pension plan during 2020 for the 2019 plan year and contributions of $958,000 for the 2020 plan year. The Company sponsors an unfunded defined benefit health care plan that provides limited postretirement medical benefits to employees who meet minimum age and service requirements, and to eligible dependents. The plan limits cost increases in the Company’s contribution to 4% per year. The plan is contributory, with retiree contributions adjusted annually. The plan eliminated coverage for future retirees as of December 31, 2011. The Company also has an unfunded defined benefit supplemental executive retirement plan (“SERP”) that was assumed in an acquisition in 1999. That plan ceased to accrue additional benefits effective January 1, 2000. The components of net periodic benefit cost for the Company’s defined benefit plans were as follows (in thousands): Pension Benefits Pension Plan SERP Three months ended March 31 Three months ended March 31 2020 2019 2020 2019 Components of net periodic benefit cost: Service cost $ 1,917 $ 1,768 $ — $ — Interest cost 3,890 4,207 10 13 Expected return on plan assets (6,188 ) (5,224 ) — — Amortization of actuarial loss 232 678 9 7 Net periodic benefit cost $ (149 ) $ 1,429 $ 19 $ 20 The components of net periodic benefit cost for the Company’s postretirement benefit plan were as follows (in thousands): Other Postretirement Benefits Postretirement Welfare Plan Three months ended March 31 2020 2019 Components of net periodic benefit cost: Service cost $ — $ — Interest cost 6 8 Amortization of actuarial gain (131 ) (135 ) Net periodic benefit cost $ (125 ) $ (127 )

Other Comprehensive Income

Other Comprehensive Income	3 Months Ended
	Mar. 31, 2020
Other Comprehensive Income [Abstract]
Other Comprehensive Income	(14) Other Comprehensive Income The Company’s changes in other comprehensive income were as follows (in thousands): Three months ended March 31, 2020 2019 Gross Amount Income Tax Provision Net Amount Gross Amount Income Tax Provision Net Amount Pension and postretirement benefits (a): Amortization of net actuarial loss $ 110 $ (28 ) $ 82 $ 550 $ (139 ) $ 411 Foreign currency translation (1,274 ) — (1,274 ) 129 — 129 Total $ (1,164 ) $ (28 ) $ (1,192 ) $ 679 $ (139 ) $ 540 (a) Actuarial gains/(losses) are amortized into other income (expense). (See Note 13, Retirement Plans)

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2020
Contingencies [Abstract]
Contingencies	(15) Contingencies On May 10, 2019, tank barges and a towboat, the M/V Voyager, owned and operated by Kirby Inland Marine, LP (“Kirby Inland Marine”), a wholly owned subsidiary of the Company, were struck by the LPG tanker, the Genesis River, in the Houston Ship Channel. The bow of the Genesis River penetrated the Kirby 30015 T and capsized the MMI 3014. The collision penetrated the hull of the Kirby 30015 T causing its cargo, reformate, to be discharged into the water. The United States Coast Guard (“USCG”) and the National Transportation Safety Board (“NTSB”) designated the owner and pilot of the Genesis River as well as the subsidiary of the Company as parties of interest in their investigation into the cause of the incident. On June 19, 2019, the Company filed a limitation action in the U.S. District Court of the Southern District of Texas - Galveston Division seeking limitation of liability and asserting that the Genesis River and her owner/manager are at fault for damages including removal costs and claims under the Oil Pollution Act of 1990 and maritime law. Multiple claimants have filed claims in the limitation seeking damages under the Oil Pollution Act of 1990. The Company has various insurance policies covering liabilities including pollution, marine and general liability and believes that it has satisfactory insurance coverage for the 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. On October 13, 2016, the tug Nathan E. Stewart and barge DBL 55, an articulated tank barge and tugboat unit (“ATB”) owned and operated by Kirby Offshore Marine, LLC, a wholly owned subsidiary of the Company, ran aground at the entrance to Seaforth Channel on Atholone Island, British Columbia. The grounding resulted in a breach of a portion of the Nathan E. Stewart’s fuel tanks causing a discharge of diesel fuel into the water. The USCG and the 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 investigated the cause of the incident. On October 10, 2018, the Heiltsuk First Nation filed a civil action in the British Columbia Supreme Court against a subsidiary of the Company, the master and pilot of the tug, the vessels and the Canadian government seeking unquantified damages as a result of the incident. On May 1, 2019, the Company filed a limitation action in the Federal Court of Canada seeking limitation of liability relating to the incident as provided under admiralty law. The Heiltsuk First Nation’s civil claim has been consolidated into the Federal Court limitation action as of July 26, 2019 and it is expected that the Federal Court of Canada will decide all claims against the Company. The Company is unable to estimate the potential exposure in the civil proceeding. The Company has various insurance policies covering liabilities including pollution, property, marine and general liability and believes that it has satisfactory insurance coverage for the cost of cleanup and salvage operations as well as other potential liabilities arising from the incident. The Company believes 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. On March 22, 2014, tank barges and a towboat, the M/V Miss Susan, owned by Kirby Inland Marine, 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 of its cargo tanks. The Company is participating in the natural resource damage assessment and restoration process with federal and state government natural resource trustees. 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 addition, the Company is involved in various legal and other proceedings which are incidental to the conduct of its business, none of which in the opinion of management will have a material effect on the Company’s financial condition, results of operations, or cash flows. Management believes 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 at March including in letters of credit and in performance bonds. All of these instruments have an expiration date within . The Company does not believe demand for payment under these instruments is likely and expects no material cash outlays to occur regarding these instruments.

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	(16) Subsequent Event On April the Company completed the acquisition of the inland tank barge fleet of Savage Inland Marine, LLC (“Savage”) for in cash, subject to certain post-closing adjustments. Savage’s tank barge fleet consisted of inland tank barges with approximately barrels of capacity and inland towboats. The Savage assets that were acquired primarily move petrochemicals, refined products, and crude oil on the Mississippi River, its tributaries, and the Gulf Intracoastal Waterway. The Company also acquired Savage’s ship bunkering business and barge fleeting business along the Gulf Coast.

Accounting Standards Adoptions

Accounting Standards Adoptions (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Standards Adoptions [Abstract]
Accounting Standards Adoptions	In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating this guidance to determine the impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, “Compensation – Retirement Benefits - Defined Benefit Plans – General (Subtopic 715-20): Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans” which amends the annual disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by removing certain requirements, providing clarification on existing requirements and adding new requirements including adding an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. The guidance is effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The amendments in this update are required to be applied on a retrospective basis to all periods presented. The Company is currently evaluating this guidance to determine the impact on its disclosures. 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 shall 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. The Company adopted ASU 2017-04 on January 1, 2020 on a prospective basis. See Note 8, Impairments and Other Charges for further details.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2020
Acquisitions [Abstract]
Fair Values of Assets Acquired and Liabilities Assumed	The fair values of the assets acquired and liabilities assumed from Convoy recorded at the acquisition date were as follows (in thousands): Assets: Accounts receivable $ 5,677 Inventories 11,771 Prepaid expenses 177 Property and equipment 415 Operating lease right-of-use assets 3,713 Goodwill 10,309 Other intangibles 17,170 Total assets 49,232 Liabilities: Accounts payable and accrued liabilities 8,339 Current portion of operating lease liabilities 793 Other long-term liabilities 2,920 Total liabilities 12,052 Net assets acquired $ 37,180

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2020
Revenues [Abstract]
Revenues by Major Source	The following table sets forth the Company’s revenues by major source (in thousands): Three months ended March 31 2020 2019 Marine transportation segment: Inland transportation $ 318,565 $ 283,085 Coastal transportation 84,692 85,036 $ 403,257 $ 368,121 Distribution and services segment: Oil and gas $ 78,678 $ 223,101 Commercial and industrial 161,991 153,399 $ 240,669 $ 376,500

Segment Data (Tables)

Segment Data (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Data [Abstract]
Segment Reporting Information, by Segment	The following tables set forth the Company’s revenues and profit or loss by reportable segment and total assets (in thousands): Three months ended March 31 2020 2019 Revenues: Marine transportation $ 403,257 $ 368,121 Distribution and services 240,669 376,500 $ 643,926 $ 744,621 Segment profit (loss): Marine transportation $ 50,716 $ 35,424 Distribution and services 3,718 37,609 Other (446,273 ) (14,696 ) $ (391,839 ) $ 58,337 March 31 2020 December 31 2019 Total assets: Marine transportation $ 4,565,489 $ 4,536,368 Distribution and services 1,015,924 1,422,394 Other 556,164 120,335 $ 6,137,577 $ 6,079,097
Other Segment Reporting Information	The following table presents the details of “Other” segment loss (in thousands): Three months ended March 31 2020 2019 General corporate expenses $ (3,348 ) $ (3,084 ) Interest expense (12,799 ) (13,201 ) Impairments and other charges (433,341 ) — Gain on disposition of assets 492 2,157 Other income (expense) 2,723 (568 ) $ (446,273 ) $ (14,696 ) The following table presents the details of “Other” total assets (in thousands): March 31 2020 December 31 2019 General corporate assets $ 553,965 $ 118,310 Investment in affiliates 2,199 2,025 $ 556,164 $ 120,335

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Future Minimum Lease Payments under Operating Leases	Future minimum lease payments under operating leases that have initial noncancelable lease terms in excess of one year were as follows (in thousands): March 31, December 31, 2020 2019 2020 $ 25,421 $ 33,374 2021 27,479 25,911 2022 24,551 23,098 2023 20,492 19,162 2024 16,591 15,330 Thereafter 94,868 92,991 Total lease payments 209,402 209,866 Less: imputed interest (44,615 ) (43,085 ) Operating lease liabilities $ 164,787 $ 166,781
Lease Cost	The following table sets forth lease costs (in thousands): Three months ended March 31 2020 2019 Operating lease cost $ 9,041 $ 10,078 Variable lease cost 152 516 Short-term lease cost 8,277 7,892 Sublease income (244 ) (240 ) Total lease cost $ 17,226 $ 18,246
Operating Leases, Weighted Average Discount Rate and Remaining Lease Term	The following table summarizes other supplemental information about the Company’s operating leases: March 31, December 31, 2020 2019 Weighted average discount rate 4.0 % 4.0 % Weighted average remaining lease term 11 years 11 years

Impairments and Other Charges (

Impairments and Other Charges (Tables)	3 Months Ended
	Mar. 31, 2020
Impairments and Other Charges [Abstract]
Changes in Goodwill	The following table summarizes the changes in goodwill (in thousands): Marine Transportation Distribution and Services Total Balance at December (gross) $ 424,149 $ 549,846 $ 973,995 Accumulated impairment and amortization (18,574 ) (1,595 ) (20,169 ) Balance at December 405,575 548,251 953,826 Impairment — (260,037 ) (260,037 ) Convoy acquisition — 10,309 10,309 Balance at March (gross) 424,149 560,155 984,304 Accumulated impairment and amortization (18,574 ) (261,632 ) (280,206 ) Balance at March $ 405,575 $ 298,523 $ 704,098

Stock Award Plans (Tables)

Stock Award Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Stock Award Plans [Abstract]
Compensation Cost Breakdown in Statement of Earnings	The compensation cost that has been charged against earnings for the Company’s stock award plans and the income tax benefit recognized in the statement of earnings for stock awards were as follows (in thousands): Three months ended March 31, 2020 2019 Compensation cost $ 5,331 $ 4,900 Income tax benefit $ 1,262 $ 1,169

Taxes on Income (Tables)

Taxes on Income (Tables)	3 Months Ended
	Mar. 31, 2020
Taxes on Income [Abstract]
Earnings Before Taxes	Earnings (loss) before taxes on income and details of the provision (benefit) for taxes on income were as follows (in s): Three months ended March 31, 2020 2019 Earnings (loss) before taxes on income: United States $ (391,556 ) $ 58,752 Foreign (283 ) (415 ) $ (391,839 ) $ 58,337 Provision (benefit) for taxes on income: Federal: Current $ (137,696 ) $ — Deferred 2,813 12,490 State and local: Current 82 1,459 Deferred (8,895 ) — Foreign - current 47 (69 ) $ (143,649 ) $ 13,880

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Basic and Diluted Earnings per Share	The following table presents the components of basic and diluted earnings (loss) per share (in thousands, except per share amounts): Three months ended March 31 2020 2019 Net earnings (loss) attributable to Kirby $ (248,468 ) $ 44,296 Undistributed earnings allocated to restricted shares — (119 ) Income (loss) available to Kirby common stockholders – basic (248,468 ) 44,177 Undistributed earnings allocated to restricted shares — 119 Undistributed earnings reallocated to restricted shares — (119 ) Income (loss) available to Kirby common stockholders – diluted $ (248,468 ) $ 44,177 Shares outstanding: Weighted average common stock issued and outstanding 59,983 59,869 Weighted average unvested restricted stock (100 ) (160 ) Weighted average common stock outstanding – basic 59,883 59,709 Dilutive effect of stock options and restricted stock units — 114 Weighted average common stock outstanding – diluted 59,883 59,823 Net earnings (loss) per share attributable to Kirby common stockholders: Basic $ (4.15 ) $ 0.74 Diluted $ (4.15 ) $ 0.74

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Inventories [Abstract]
Details of Inventories	The following table presents the details of inventories – net (in thousands) March 31 2020 December 31 2019 Finished goods $ 274,770 $ 291,214 Work in process 66,728 60,187 $ 341,498 $ 351,401

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Benefit Cost	The components of net periodic benefit cost for the Company’s postretirement benefit plan were as follows (in thousands): Other Postretirement Benefits Postretirement Welfare Plan Three months ended March 31 2020 2019 Components of net periodic benefit cost: Service cost $ — $ — Interest cost 6 8 Amortization of actuarial gain (131 ) (135 ) Net periodic benefit cost $ (125 ) $ (127 )
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Benefit Cost	The components of net periodic benefit cost for the Company’s defined benefit plans were as follows (in thousands): Pension Benefits Pension Plan SERP Three months ended March 31 Three months ended March 31 2020 2019 2020 2019 Components of net periodic benefit cost: Service cost $ 1,917 $ 1,768 $ — $ — Interest cost 3,890 4,207 10 13 Expected return on plan assets (6,188 ) (5,224 ) — — Amortization of actuarial loss 232 678 9 7 Net periodic benefit cost $ (149 ) $ 1,429 $ 19 $ 20

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2020
Other Comprehensive Income [Abstract]
Changes in Other Comprehensive Income	The Company’s changes in other comprehensive income were as follows (in thousands): Three months ended March 31, 2020 2019 Gross Amount Income Tax Provision Net Amount Gross Amount Income Tax Provision Net Amount Pension and postretirement benefits (a): Amortization of net actuarial loss $ 110 $ (28 ) $ 82 $ 550 $ (139 ) $ 411 Foreign currency translation (1,274 ) — (1,274 ) 129 — 129 Total $ (1,164 ) $ (28 ) $ (1,192 ) $ 679 $ (139 ) $ 540 (a) Actuarial gains/(losses) are amortized into other income (expense). (See Note 13, Retirement Plans)

Acquisitions (Details)

Acquisitions (Details)	Jan. 03, 2020USD ($)	Mar. 31, 2020USD ($)TankBarge	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Acquisitions [Abstract]
Purchase price		$ 49,225,000	$ 60,932,000
Assets [Abstract]
Goodwill		$ 704,098,000		$ 953,826,000
Inland Pressure Barges [Member]
Acquisitions [Abstract]
Number of maritime vessels acquired | TankBarge		3
Purchase price		$ 20,100,000
Convoy [Member]
Acquisitions [Abstract]
Cash paid for acquisition	$ 40,322,000
Receivable	3,142,000
Assets [Abstract]
Accounts receivable	5,677,000
Inventories	11,771,000
Prepaid expenses	177,000
Property and equipment	415,000
Operating lease right-of-use assets	3,713,000
Goodwill	10,309,000
Other intangibles	17,170,000
Total assets	49,232,000
Liabilities [Abstract]
Accounts payable and accrued liabilities	8,339,000
Current portion of operating lease liabilities	793,000
Other long-term liabilities	2,920,000
Total liabilities	12,052,000
Net assets acquired	37,180,000
Weighted average amortization period of intangibles		11 years
Convoy [Member] | Customer Relationships [Member]
Assets [Abstract]
Other intangibles	9,000,000
Liabilities [Abstract]
Intangible assets amortization period		10 years
Convoy [Member] | Distributorships [Member]
Assets [Abstract]
Other intangibles	8,000,000
Liabilities [Abstract]
Intangible assets amortization period		12 years
Convoy [Member] | Non-compete Agreements [Member]
Assets [Abstract]
Other intangibles	$ 170,000
Liabilities [Abstract]
Intangible assets amortization period		3 years

Revenues (Details)

Revenues (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Abstract]
Revenues by major source	$ 643,926,000	$ 744,621,000
Revenue recognized	32,386,000	50,921,000
Marine Transportation [Member]
Disaggregation of Revenue [Abstract]
Revenues by major source	403,257,000	368,121,000
Marine Transportation [Member] | Inland Transportation [Member]
Disaggregation of Revenue [Abstract]
Revenues by major source	318,565,000	283,085,000
Marine Transportation [Member] | Coastal Transportation [Member]
Disaggregation of Revenue [Abstract]
Revenues by major source	84,692,000	85,036,000
Distribution and Services [Member]
Disaggregation of Revenue [Abstract]
Revenues by major source	240,669,000	376,500,000
Distribution and Services [Member] | Oil and Gas [Member]
Disaggregation of Revenue [Abstract]
Revenues by major source	78,678,000	223,101,000
Distribution and Services [Member] | Commercial and Industrial [Member]
Disaggregation of Revenue [Abstract]
Revenues by major source	$ 161,991,000	$ 153,399,000

Revenues, Remaining Performance

Revenues, Remaining Performance Obligation (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Revenue, Performance Obligation [Abstract]
Contract assets	$ 0	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Performance Obligation [Abstract]
Expected timing of satisfaction, period	1 year

Segment Data (Details)

Segment Data (Details)	3 Months Ended
	Mar. 31, 2020USD ($)Segment	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Segment Data [Abstract]
Number of reportable segments | Segment	2
Revenues [Abstract]
Revenues	$ 643,926,000	$ 744,621,000
Segment profit (loss)	(391,839,000)	58,337,000
Total assets	6,137,577,000		$ 6,079,097,000
Other segment disclosures [Abstract]
Interest expense	(12,799,000)	(13,201,000)
Gain on disposition of assets	492,000	2,157,000
Other income (expense)	2,723,000	(568,000)
Earnings (loss) before taxes on income	(391,839,000)	58,337,000
Marine Transportation [Member]
Revenues [Abstract]
Revenues	403,257,000	368,121,000
Distribution and Services [Member]
Revenues [Abstract]
Revenues	240,669,000	376,500,000
Other [Member]
Revenues [Abstract]
Segment profit (loss)	(446,273,000)	(14,696,000)
Other segment disclosures [Abstract]
General corporate expenses	(3,348,000)	(3,084,000)
Interest expense	(12,799,000)	(13,201,000)
Impairments and other charges	(433,341,000)	0
Gain on disposition of assets	492,000	2,157,000
Other income (expense)	2,723,000	(568,000)
Earnings (loss) before taxes on income	(446,273,000)	(14,696,000)
Details of "Other" total assets [Abstract]
General corporate assets	553,965,000		118,310,000
Investment in affiliates	2,199,000		2,025,000
Total other assets	556,164,000		$ 120,335,000
Reporting Segments [Member] | Marine Transportation [Member]
Revenues [Abstract]
Revenues	403,257,000	368,121,000
Segment profit (loss)	50,716,000	35,424,000
Other segment disclosures [Abstract]
Earnings (loss) before taxes on income	50,716,000	35,424,000
Reporting Segments [Member] | Distribution and Services [Member]
Revenues [Abstract]
Revenues	240,669,000	376,500,000
Segment profit (loss)	3,718,000	37,609,000
Other segment disclosures [Abstract]
Earnings (loss) before taxes on income	3,718,000	37,609,000
Intersegment Eliminations [Member]
Revenues [Abstract]
Revenues	10,286,000	7,535,000
Segment profit (loss)	1,029,000	754,000
Other segment disclosures [Abstract]
Earnings (loss) before taxes on income	$ 1,029,000	$ 754,000

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	Feb. 27, 2020	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Long-term Debt [Abstract]
Payments on long-term debt		$ 150,000,000	$ 0
Credit facility, amount outstanding		$ 485,000,000
2.72% Unsecured Senior Notes [Member]
Long-term Debt [Abstract]
Interest rate	2.72%
Maturity Date		Feb. 27, 2020
Income Approach [Member] | Level 2 [Member]
Fair Value Measurements [Abstract]
Estimated fair value of outstanding debt		$ 1,810,159,000		$ 1,421,325,000
Senior Notes outstanding		1,702,493,000		$ 1,369,767,000
Revolving Credit Facility [Member]
Long-term Debt [Abstract]
Maximum borrowing capacity		$ 850,000,000
Credit facility, expiration date		Mar. 27, 2024
Credit facility, amount outstanding		$ 359,637,000
Interest rate		1.90%
Term Loan [Member]
Long-term Debt [Abstract]
Debt instrument, frequency of periodic payment		quarterly
Term loan		$ 343,750,000
Credit facility, amount outstanding		$ 375,000,000
Interest rate		2.10%
Term Loan [Member] | 2.72% Unsecured Senior Notes [Member]
Long-term Debt [Abstract]
Payments on long-term debt	$ 150,000,000

Leases, Future Minimum Lease Pa

Leases, Future Minimum Lease Payments Under Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Percentage of costs relate to service costs for leased towing vessels	75.00%
Future Minimum Lease Payments Under Operating Leases [Abstract]
2020	$ 25,421
2021/2020	27,479	$ 33,374
2022/2021	24,551	25,911
2023/2022	20,492	23,098
2024/2023	16,591	19,162
2024		15,330
Thereafter	94,868
Thereafter		92,991
Total lease payments	209,402	209,866
Less: imputed interest	(44,615)	(43,085)
Operating lease liabilities	$ 164,787	$ 166,781

Leases, Lease Cost (Details)

Leases, Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Lease Cost [Abstract]
Operating lease cost	$ 9,041	$ 10,078
Variable lease cost	152	516
Short-term lease cost	8,277	7,892
Sublease income	(244)	(240)
Total lease cost	$ 17,226	$ 18,246

Leases, Other Supplemental Info

Leases, Other Supplemental Information (Details)	Mar. 31, 2020	Dec. 31, 2019
Other Supplemental Information about Operating Leases [Abstract]
Weighted average discount rate	4.00%	4.00%
Weighted average remaining lease term	11 years	11 years

Impairments and Other Charges_2

Impairments and Other Charges (Details)	3 Months Ended
	Mar. 31, 2020USD ($)
Impairments and Other Charges [Abstract]
Impairment charge	$ 165,304,000
Non-cash write-down	8,000,000
Changes in Goodwill [Roll Forward]
Balance (gross)	973,995,000
Accumulated impairment and amortization	(20,169,000)
Balance	953,826,000
Impairment	(260,037,000)
Convoy acquisition	10,309,000
Balance (gross)	984,304,000
Accumulated impairment and amortization	(280,206,000)
Balance	704,098,000
Marine Transportation [Member]
Changes in Goodwill [Roll Forward]
Balance (gross)	424,149,000
Accumulated impairment and amortization	(18,574,000)
Balance	405,575,000
Impairment	0
Convoy acquisition	0
Balance (gross)	424,149,000
Accumulated impairment and amortization	(18,574,000)
Balance	405,575,000
Distribution and Services [Member]
Changes in Goodwill [Roll Forward]
Balance (gross)	549,846,000
Accumulated impairment and amortization	(1,595,000)
Balance	548,251,000
Impairment	(260,037,000)
Convoy acquisition	10,309,000
Balance (gross)	560,155,000
Accumulated impairment and amortization	(261,632,000)
Balance	$ 298,523,000

Stock Award Plans (Details)

Stock Award Plans (Details) - shares	May 08, 2020	Mar. 31, 2020
Employee Stock Award Plan [Member] | RSUs [Member]
Stock Award Plan Information [Abstract]
Number of restricted stock and units granted (in shares)		151,845
Vesting period		5 years
Employee Stock Award Plan [Member] | Stock Options [Member]
Stock Award Plan Information [Abstract]
Number of stock options granted (in shares)		114,600
Vesting period		3 years
Stock options expiration period		7 years
Director Plan [Member] | Restricted Stock [Member] | Subsequent Events [Member]
Stock Award Plan Information [Abstract]
Number of restricted stock and units granted (in shares)	39,913
Vesting period	6 months

Stock Award Plans, Compensation

Stock Award Plans, Compensation Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock Award Plans [Abstract]
Compensation cost	$ 5,331	$ 4,900
Income tax benefit	$ 1,262	$ 1,169

Taxes on Income (Details)

Taxes on Income (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2017
Earnings (loss) before taxes on income [Abstract]
Earnings (loss) before taxes on income	$ (391,839,000)	$ 58,337,000
Federal [Abstract]
Current	(137,696,000)	0
Deferred	2,813,000	12,490,000
State and local [Abstract]
Current	82,000	1,459,000
Deferred	(8,895,000)	0
Foreign - current	47,000	(69,000)
Total Provision for taxes on income	$ (143,649,000)	13,880,000
Effective income tax rate	21.00%		35.00%
COVID-19 [Member]
State and local [Abstract]
Operating losses tax year	2013 2014 2015 2016 2017
Decrease in deferred tax asset	$ (77,262,000)
Tax benefit related to CARES Act	$ (50,284,000)
COVID-19 [Member] | Maximum [Member]
State and local [Abstract]
Number of years net operating losses carried	5 years
United States [Member]
Earnings (loss) before taxes on income [Abstract]
Earnings (loss) before taxes on income	$ (391,556,000)	58,752,000
Foreign [Member]
Earnings (loss) before taxes on income [Abstract]
Earnings (loss) before taxes on income	$ (283,000)	$ (415,000)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net Income (Loss) Attributable to Parent [Abstract]
Net earnings (loss) attributable to Kirby	$ (248,468)	$ 44,296
Undistributed earnings allocated to restricted shares	0	(119)
Income (loss) available to Kirby common stockholders - basic	(248,468)	44,177
Undistributed earnings allocated to restricted shares	0	119
Undistributed earnings reallocated to restricted shares	0	(119)
Income (loss) available to Kirby common stockholders - diluted	$ (248,468)	$ 44,177
Shares outstanding [Abstract]
Weighted average common stock issued and outstanding (in shares)	59,983,000	59,869,000
Weighted average unvested restricted stock (in shares)	(100,000)	(160,000)
Weighted average common stock outstanding - basic (in shares)	59,883,000	59,709,000
Dilutive effect of stock options and restricted stock units (in shares)	0	114,000
Weighted average common stock outstanding - diluted (in shares)	59,883,000	59,823,000
Net earnings (loss) per share attributable to Kirby common stockholders:
Basic (in dollars per share)	$ (4.15)	$ 0.74
Diluted (in dollars per share)	$ (4.15)	$ 0.74
Antidilutive securities excluded from computation of earnings per share (in shares)	681,000	479,000
RSUs [Member]
Net earnings (loss) per share attributable to Kirby common stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)	344,000	1,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Details of inventories [Abstract]
Finished goods	$ 274,770	$ 291,214
Work in process	66,728	60,187
Inventories - net	$ 341,498	$ 351,401

Retirement Plans (Details)

Retirement Plans (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Retirement Plans [Abstract]
Service period of participants not impacted by pension plan amendment	15 years
Age of plan participants not impacted by pension plan amendment	50 years
Service period of participants who are age fifty not impacted by pension plan amendment	10 years
Pension plan defined benefit plan cost increase limit percentage	4.00%
Plan 2019 [Member]
Retirement Plans [Abstract]
Expected pension contributions	$ 314,000
Plan 2020 [Member]
Retirement Plans [Abstract]
Expected pension contributions	958,000
Higman [Member] | Plan 2019 [Member]
Retirement Plans [Abstract]
Pension contributions	483,000
Higman [Member] | Plan 2020 [Member]
Retirement Plans [Abstract]
Pension contributions	479,000
Pension Plan [Member]
Components of net periodic benefit cost [Abstract]
Service cost	1,917,000	$ 1,768,000
Interest cost	3,890,000	4,207,000
Expected return on plan assets	(6,188,000)	(5,224,000)
Amortization of actuarial loss	232,000	678,000
Net periodic benefit cost	(149,000)	1,429,000
SERP [Member]
Components of net periodic benefit cost [Abstract]
Service cost	0	0
Interest cost	10,000	13,000
Expected return on plan assets	0	0
Amortization of actuarial loss	9,000	7,000
Net periodic benefit cost	19,000	20,000
Other Postretirement Benefits [Member]
Components of net periodic benefit cost [Abstract]
Service cost	0	0
Interest cost	6,000	8,000
Amortization of actuarial loss	(131,000)	(135,000)
Net periodic benefit cost	$ (125,000)	$ (127,000)

Other Comprehensive Income (Det

Other Comprehensive Income (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Pension and postretirement benefits [Abstract]
Amortization of net actuarial loss, Gross Amount	[1]	$ 110	$ 550
Amortization of net actuarial loss, Income Tax Provision	[1]	(28)	(139)
Amortization of net actuarial loss, Net Amount	[1]	82	411
Foreign currency translation, Gross Amount		(1,274)	129
Foreign currency translation, Income Tax Provision		0	0
Foreign currency translation, Net Amount		(1,274)	129
Total other comprehensive income, Gross Amount		(1,164)	679
Total other comprehensive income, Income Tax Provision		(28)	(139)
Total other comprehensive income (loss), net of taxes		$ (1,192)	$ 540
[1]	Actuarial gains/(losses) are amortized into other income (expense). (See Note 13, Retirement Plans)

Contingencies (Details)

Contingencies (Details)	3 Months Ended
	Mar. 31, 2020USD ($)	May 10, 2019Vessel	Mar. 22, 2014VesselTankBarge
Guaranties [Abstract]
Issued guaranties	$ 23,219,000
Maximum [Member]
Guaranties [Abstract]
Guarantor obligations, expiration period	2 years
Performance Bonds [Member]
Guaranties [Abstract]
Issued guaranties	$ 11,875,000
Struck by LPG Tanker, the Genesis River [Member]
Loss Contingency [Abstract]
Number of vessels involved in collision | Vessel		2
Collision with M/S Summer Wind [Member]
Loss Contingency [Abstract]
Number of vessels involved in collision | Vessel			2
Number of vessels damaged in collision resulting in fuel oil discharge | TankBarge			1
Letters of Credit [Member]
Guaranties [Abstract]
Issued guaranties	$ 11,344,000

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Events [Member] - Savage Inland Marine, LLC [Member] bbl in Millions	Apr. 01, 2020USD ($)bblTankBargeTowboat
Acquisitions [Abstract]
Cash paid for acquisition | $	$ 277,931,000
Inland Tank Barges [Member]
Acquisitions [Abstract]
Number of maritime vessels acquired | TankBarge	92
Aggregate tank barge barrel capacity (in barrels) | bbl	2.6
Inland Towboats [Member]
Acquisitions [Abstract]
Number of maritime vessels acquired | Towboat	46