ACCOUNTING STANDARDS ADOPTIONS (Tables)

9 Months Ended

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	)