☒ |
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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☐ |
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Page
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1
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2
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3
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4
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Supplemental Schedules
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11
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12
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2019
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2018
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Assets:
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||||||||
Investments, at fair value
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$
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584,691,311
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$
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482,052,035
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||||
Notes receivable from participants
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25,763,304
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24,720,676
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Other receivables
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21,112
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7,590
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Total assets
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610,475,727
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506,780,301
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Liabilities:
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Other liabilities
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336,985
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444,018
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Total liabilities
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336,985
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444,018
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Net assets available for benefits
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$
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610,138,742
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$
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506,336,283
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2019
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2018
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Additions to net assets attributed to:
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Contributions from participants
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$
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27,806,512
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$
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25,837,575
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Contributions from employer, net of forfeitures
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20,910,927
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17,975,242
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Rollover contributions
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9,056,818
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4,979,165
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Dividend and other income
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16,426,894
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25,814,354
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Interest income from participants’ notes receivable
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1,349,102
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1,162,613
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Net appreciation (depreciation) in fair value of investments
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86,100,914
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(44,581,320
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)
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Total additions, net
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161,651,167
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31,187,629
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Deductions from net assets attributed to:
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Benefits paid to participants
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57,643,672
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75,228,135
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Investment counselor fees and other
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205,036
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186,649
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Total deductions
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57,848,708
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75,414,784
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Net increase (decrease)
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103,802,459
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(44,227,155
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)
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Net assets available for benefits, beginning of year
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506,336,283
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550,563,438
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Net assets available for benefits, end of year
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$
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610,138,742
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$
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506,336,283
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(1) |
Description of Plan
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(a) |
General
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(b) |
Administration of the Plan
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(c) |
Contributions
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(d) |
Benefits
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(e) |
Vesting
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(f) |
Plan Termination
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(g) |
Participant Accounts
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(h) |
Administrative Expenses
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(i) |
Revenue Sharing
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(2) |
Summary of Significant Accounting Policies
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(a) |
Basis of Presentation
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(b) |
Use of Estimates
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(c) |
Investment Valuation and Income Recognition
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(d) |
Notes Receivable from Participants
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(e) |
Benefit Payments
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(3) |
Investments and Investment Options
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(4) |
Voting Rights
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(5) |
Risk and Uncertainties
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(6) |
Related Party Transactions
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(7) |
Federal Income Tax Status
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(8) |
Fair Value Measurements
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December 31, 2019
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Level 1
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Total
Fair Value |
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Mutual funds
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$
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277,838,531
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$
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277,838,531
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Company common stock
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51,530,117
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51,530,117
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Total assets in the fair value hierarchy
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$
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329,368,648
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329,368,648
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Common trust funds
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255,322,663
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Investments at fair value
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$
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584,691,311
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December 31, 2018
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Level 1
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Total
Fair Value |
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Mutual funds
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$
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241,679,577
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$
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241,679,577
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Company common stock
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41,116,136
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41,116,136
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Total assets in the fair value hierarchy
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$
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282,795,713
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282,795,713
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Common trust funds
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199,256,322
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Investments at fair value
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$
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482,052,035
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(9) |
Subsequent Events
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Participant
Contributions
Transferred Late to
Plan
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Total that Constitute Nonexempt Prohibited
Transactions
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Check Here if
Late Participant
Loan Payments are
Included: ☐
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Contributions
Not Corrected
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Contributions Corrected
Outside VFCP
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Contributions
Pending
Correction VFCP
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Total Fully Corrected
Under VFCP and PTE
2002-51
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2018
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$
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45,732
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—
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—
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—
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$
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45,732
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Identity of issue, borrower, lessor, or
similar party
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Description of asset
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Current
value
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Common trust funds:
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Invesco
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Invesco Stable Value Retirement Fund CL1
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$
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78,364,543
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Blackrock
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Blackrock Russell 2000 Fund
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25,998,366
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Northern Trust
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Northern Trust Aggregate Bond Index Fund
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27,151,877
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Northern Trust
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Northern Trust All Country World ex-US Index Fund TR2
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32,424,317
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Northern Trust
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Northern Trust Collective S&P 500 Index Fund L1
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91,383,560
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Total common trust funds
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255,322,663
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Mutual Funds:
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American Beacon
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American Beacon Small Cap Value Fund
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22,733,426
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American Funds
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American Funds Bond Fund of America Class R-6
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22,541,865
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Blackrock
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Blackrock Global Allocation Fund
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1,850,144
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Clearbridge
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ClearBridge Small Cap Growth Fund
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19,666,294
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Delaware
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Delaware Value Fund
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44,213,543
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Harbor
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Harbor International Fund
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25,281,066
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Northern Trust
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Active Multi-Manager Emerging Markets Equity Fund
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5,754,875
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Principal Investors
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Principal Investors Global Real Estate Securities Fund (Class I Shares)
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9,461,898
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Prudential Jennison
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Prudential Jennison Large Cap Growth Fund
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64,118,389
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T. Rowe Price
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T. Rowe Price Retirement 2010 Fund
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3,241,711
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T. Rowe Price
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T. Rowe Price Retirement 2015 Fund
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3,373,155
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T. Rowe Price
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T. Rowe Price Retirement 2020 Fund
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18,815,738
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T. Rowe Price
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T. Rowe Price Retirement 2025 Fund
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8,996,661
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T. Rowe Price
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T. Rowe Price Retirement 2030 Fund
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11,436,433
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T. Rowe Price
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T. Rowe Price Retirement 2035 Fund
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3,530,957
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T. Rowe Price
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T. Rowe Price Retirement 2040 Fund
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8,771,030
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T. Rowe Price
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T. Rowe Price Retirement 2045 Fund
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1,253,449
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T. Rowe Price
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T. Rowe Price Retirement 2050 Fund
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1,599,951
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T. Rowe Price
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T. Rowe Price Retirement 2055 Fund
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1,067,663
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T. Rowe Price
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T. Rowe Price Retirement 2060 Fund
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130,283
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Total mutual funds
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277,838,531
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Common stock:
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*Kirby Corporation
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Common stock
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51,530,117
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*Participant loans
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Interest rates ranging from 3.25% to 9.00% and maturity dates from January 1, 2020 to June 22, 2034
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25,763,304
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Total assets (held at end of year)
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$
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610,454,615
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Kirby 401(k) Plan
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June 26, 2020
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BY:
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/s/ William G. Harvey
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WILLIAM G. HARVEY
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Chairman of Kirby Corporation Administrative Committee
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Exhibit
number
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Description
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Consent of Independent Registered Public Accounting Firm
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