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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income attributable to DXP Enterprises, Inc. $ 7,852 $ 20,750
Less: net loss attributable to non-controlling interest (124) (213)
Net income 7,728 20,537
Reconciliation of net income to net cash used in operating activities:    
Depreciation 5,747 4,654
Amortization of intangible assets 6,243 7,617
Gain on sale of property and equipment 0 (8)
Bad debt expense 434 (228)
Payment of contingent consideration liability in excess of acquisition-date fair value (136) (106)
Fair value adjustment on contingent consideration 39 66
Amortization of debt issuance costs 937 936
Stock compensation expense 1,887 1,029
Deferred income taxes 174 926
Changes in operating assets and liabilities    
Trade accounts receivable 34,416 (17,402)
Costs and estimated profits in excess of billings 2,032 (2,953)
Inventories (935) (13,114)
Prepaid expenses and other assets 2,586 7,295
Trade accounts payable and accrued expenses 13,572 911
Billings in excess of costs and estimated profits (8,296) (4,774)
Other long-term liabilities (4,664) (8,846)
Net cash provided by (used in) operating activities 61,764 (3,460)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (5,133) (8,584)
Proceeds from the sale of property and equipment 123 34
Acquisition of business, net of cash acquired (14,153) 0
Net cash used in investing activities (19,163) (8,550)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal debt payments (16,250) (1,700)
Issuance of Common Stock sold in public market 1,142 0
Payment for contingent consideration liability (1,864) (1,394)
Dividends paid (45) (45)
Payment for employee taxes withheld from stock awards (116) (128)
Net cash used in financing activities (17,133) (3,267)
Effect of foreign currency on cash (1,025) 311
Net change in cash and restricted cash 24,443 (14,966)
Cash and restricted cash at beginning of period 54,326 40,519
Cash and restricted cash at end of period $ 78,769 $ 25,553