Related Party Transactions

12 Months Ended

Dec. 31, 2014

Related Party Transactions [Abstract]

Related Party Transactions

(15) Related Party Transactions

Richard J. Alario, a current director of the Company, is the Chairman of the Board, President and Chief Executive Officer of Key Energy Services, Inc. (“Key Energy”). Key Energy paid the Company $1,232,000 in 2014, $1,973,000 in 2013 and $13,152,000 in 2012 for oilfield service equipment and for parts and service. Such sales and service were in the ordinary course of business of the Company.

The Company is a 50% owner of The Hollywood Camp, L.L.C. (“The Hollywood Camp”), a company that owns and operates a hunting and fishing facility used by the Company primarily for customer entertainment. The Hollywood Camp allocates lease and lodging expenses to its members based on their usage of the facilities. Key Energy paid The Hollywood Camp $1,634,000 in 2014, $1,112,000 in 2013 and $463,000 in 2012 for use of the facility.

William M. Waterman, a current director of the Company, is the former President and owner (together with his family members) of Penn but resigned as an officer and director of Penn and affiliated companies contemporaneously with the closing of the acquisition of Penn by the Company on December 14, 2012. A portion of the purchase price consisting of approximately $24,000,000 in cash and 83,825 shares of Kirby stock was held in escrow to secure the sellers’ indemnification of the Company for breaches of representations and warranties in the purchase agreement. The escrow account terminated on March 31, 2014 and the cash and stock, net of a $17,000 claim, were distributed to Mr. Waterman, members of his family and a family trust.

The husband of Amy D. Husted, Vice President — Legal of the Company, is a partner in the law firm of Strasburger & Price, LLP. The Company paid the law firm $1,184,000 in 2014, $851,000 in 2013 and $384,000 in 2012 for legal services in connection with matters in the ordinary course of business of the Company.