Financial Highlights


($ millions, except 
per share amounts)
Fourth Quarter Year
2018 2017 Increase 2018 2017 Increase
Marine Revenues $382.5 $330.4 $52.1 $1,483.1 $1,324.1 $159.0
Distribution & Services Revenues 339.0 377.7 (38.7) 1,487.6 890.3 597.3
Total Revenues 721.5 708.1 13.4 2,970.7 2,214.4 756.3
Operating Income (19.2) (52.6) 33.4 155.3 93.6 61.7
Net Earnings Attributable to Kirby (24.4) 231.3 (255.7) 78.5 313.2 (234.7)
EPS – diluted (0.41) 3.87 (4.28) 1.31 5.62 (4.31)
             
Excluding One-time Items:
Operating Income 1,2 68.6 53.1 15.5 268.4 199.3 69.1
Net Earnings Attributable to Kirby1,2,3 44.9 28.9 16.0 171.4 110.8 60.6
EPS - diluted1,2,3 0.75 0.48 0.27 2.86 1.99 0.87

Note: See Reconciliation of GAAP to Non-GAAP Financial Measures Excluding One-Time Items under "Financial Reports" below.

1 FY 2018 operating income, net earnings attributable to Kirby, and earnings per share exclude the following one-time charges:
- 1Q 2018 charges of $7.2 million before-tax or $0.09 per share related to:
* Higman Marine acquisition fees and expenses of $3.3 million before-tax, or $0.04 per share
* Expenses related to an amendment to the employee stock plan of $3.9 million before-tax, or $0.05 per share
- 2Q 2018 non-tax deductible charges of $18.1 million related to the retirement of Kirby's Executive Chairman, or $0.30 per share
- 4Q 2018 non-cash charges of $87.8 million before-tax or $1.16 per share related to:
* Impairment and lease cancellation charges related to coastal vessels of $85.1 million before-tax, or $1.12 per share
* Goodwill impairment charges of $2.7 million before-tax, or $0.04 per share

2 4Q 2017 and FY 2017 operating income, net earnings attributable to Kirby, and earnings per share exclude one-time impairment charges related to coastal vessels of $105.7 million before-tax, or $1.12 per share for 4Q 2017 and $1.20 per share for FY 2017

3 4Q 2017 and FY 2017 net earnings attributable to Kirby and earnings per share exclude a one-time benefit for US tax reform and deferred tax liability remeasurement of $269.4 million, or $4.51 per share for 4Q 2017 and $4.83 per share for FY 2017