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ACCOUNTING STANDARDS ADOPTIONS (Tables) | 9 Months Ended
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Sep. 30, 2018
ACCOUNTING STANDARDS ADOPTIONS [Abstract] |
Condensed Consolidated Financial Statements Impacted by ASU 2014-09 | The following tables summarize the financial statement line items within the Company’s condensed consolidated financial statements impacted by ASU 2014-09 for the three months and nine months ended September 30, 2018 (in thousands):
|  | Three months ended September 30, 2018 |
|  | As Reported |  |  | Balances without Adoption of ASC 606 |  |  | Effect of Change |
Statements of earnings: |  |  |  |  |  |  |  |  |
Distribution and services revenues |  | $ | 322,805 |  |  | $ | 349,805 |  |  | $ | (27,000 | )
Costs of sales and operating expenses |  | $ | 498,421 |  |  | $ | 520,721 |  |  | $ | (22,300 | )
Operating income |  | $ | 67,957 |  |  | $ | 72,657 |  |  | $ | (4,700 | )
Earnings before taxes on income |  | $ | 57,066 |  |  | $ | 61,766 |  |  | $ | (4,700 | )
Provision for taxes on income |  | $ | (15,116 | ) |  | $ | (16,282 | ) |  | $ | 1,166 |
Net earnings attributable to Kirby |  | $ | 41,816 |  |  | $ | 45,350 |  |  | $ | (3,534 | )
Statements of comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  | $ | 41,950 |  |  | $ | 45,484 |  |  | $ | (3,534 | )
Comprehensive income attributable to Kirby |  | $ | 42,194 |  |  | $ | 45,728 |  |  | $ | (3,534 | )
|  | Nine months ended September 30, 2018 |
|  | As Reported |  |  | Balances without Adoption of ASC 606 |  |  | Effect of Change |
Statements of earnings: |  |  |  |  |  |  |  |  |
Distribution and services revenues |  | $ | 1,148,598 |  |  | $ | 1,154,398 |  |  | $ | (5,800 | )
Costs of sales and operating expenses |  | $ | 1,640,366 |  |  | $ | 1,645,166 |  |  | $ | (4,800 | )
Operating income |  | $ | 174,530 |  |  | $ | 175,530 |  |  | $ | (1,000 | )
Earnings before taxes on income |  | $ | 144,451 |  |  | $ | 145,451 |  |  | $ | (1,000 | )
Provision for taxes on income |  | $ | (41,042 | ) |  | $ | (41,295 | ) |  | $ | 253 |
Net earnings attributable to Kirby |  | $ | 102,889 |  |  | $ | 103,636 |  |  | $ | (747 | )
Statements of comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  | $ | 103,409 |  |  | $ | 104,156 |  |  | $ | (747 | )
Comprehensive income attributable to Kirby |  | $ | 95,750 |  |  | $ | 96,497 |  |  | $ | (747 | )
Statements of cash flows: |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  | $ | 103,409 |  |  | $ | 104,156 |  |  | $ | (747 | )
Provision for deferred income taxes |  | $ | 36,838 |  |  | $ | 36,585 |  |  | $ | 253 |
Decrease in cash flows resulting from changes in operating assets and liabilities, net |  | $ | (66,707 | ) |  | $ | (67,201 | ) |  | $ | 494 |
The following table summarizes the balance sheet line items within the Company’s condensed consolidated financial statements as of September 30, 2018 impacted by ASU 2014-09 (in thousands):
|  | September 30, 2018 |
|  | As Reported |  |  | Balances without Adoption of ASC 606 |  |  | Effect of Change |
Balance sheets: |  |  |  |  |  |  |  |  |
Trade receivables |  | $ | 400,870 |  |  | $ | 466,599 |  |  | $ | (65,729 | )
Inventories – net |  | $ | 453,173 |  |  | $ | 395,773 |  |  | $ | 57,400 |
Total assets |  | $ | 5,854,332 |  |  | $ | 5,862,661 |  |  | $ | (8,329 | )
Deferred revenues |  | $ | 75,843 |  |  | $ | 70,372 |  |  | $ | 5,471 |
Deferred income taxes |  | $ | 544,882 |  |  | $ | 548,235 |  |  | $ | (3,353 | )
Retained earnings |  | $ | 2,748,029 |  |  | $ | 2,758,476 |  |  | $ | (10,447 | )
Total liabilities and equity |  | $ | 5,854,332 |  |  | $ | 5,862,661 |  |  | $ | (8,329 | )

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