XML 31 R2.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
Current assets:    
Cash $ 8,137 $ 47
Trade accounts receivable, net of allowance for doubtful accounts of $10,544 in 2015 and $8,713 in 2014 187,501 239,236
Inventories, net 108,128 115,658
Costs and estimated profits in excess of billings on uncompleted contracts 20,274 20,083
Prepaid expenses and other current assets 4,172 3,004
Deferred income taxes 8,819 8,250
Total current assets 337,031 386,278
Property and equipment, net 70,349 69,979
Goodwill 206,860 253,312
Other intangible assets, net of accumulated amortization of $82,290 in 2015 and $66,412 in 2014 117,601 130,333
Other long-term assets 1,893 1,730
Total assets 733,734 841,632
Current liabilities:    
Current maturities of long-term debt 47,699 38,608
Trade accounts payable 82,664 100,774
Accrued wages and benefits 24,686 26,967
Federal income taxes payable 4,913 8,130
Customer advances 2,686 4,262
Billings in excess of costs and profits on uncompleted contracts 6,750 8,840
Other current liabilities 25,823 19,621
Total current liabilities 195,221 207,202
Long-term debt, less current maturities 330,834 372,908
Less unamortized debt issuance costs (2,376) (2,714)
Long-term debt less unamortized debt issuance costs 328,458 370,194
Non-current deferred income taxes $ 7,837 $ 21,284
Commitments and Contingencies (Note 14)
Shareholders' equity:    
Common stock, $0.01 par value, 100,000,000 shares authorized; 14,390,648 in 2015 and 14,655,356 in 2014 shares issued $ 146 $ 146
Additional paid-in capital 110,376 115,605
Retained earnings 112,724 148,409
Accumulated other comprehensive loss (10,303) (5,700)
Treasury stock, at cost (272,152 shares in 2015 and 280,195 in 2014) (12,986) (15,524)
Total DXP Enterprises, Inc. shareholders' equity 199,973 242,952
Noncontrolling interest 2,245 0
Total shareholders' equity 202,218 242,952
Total liabilities and stockholders' equity 733,734 841,632
Series A Preferred Stock [Member]    
Shareholders' equity:    
Preferred stock 1 1
Series B Convertible Preferred Stock [Member]    
Shareholders' equity:    
Preferred stock $ 15 $ 15