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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income attributable to DXP Enterprises, Inc. $ 33,859 $ 24,510
Less: net loss attributable to non-controlling interest (172) (91)
Net income 33,687 24,419
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 7,270 7,135
Amortization of intangible assets 11,423 12,575
Write-off of debt issuance costs 0 60
Gain on sale of property and equipment (9) (1,318)
Bad debt expense (75) 2,633
Payment of contingent consideration liability in excess of acquisition-date fair value (106) 0
Fair value adjustment on contingent consideration 101 0
Amortization of debt issuance costs 1,406 1,337
Stock compensation expense 1,502 2,023
Deferred income taxes 2,337 240
Changes in operating assets and liabilities    
Trade accounts receivable (17,581) (13,225)
Costs and estimated profits in excess of billings (1,371) (11,541)
Inventories (17,039) (22,468)
Prepaid expenses and other assets 1,786 (250)
Trade accounts payable and accrued expenses (6,301) 4,291
Billings in excess of costs and estimated profits (3,524) 1,320
Other long-term liabilities (6,021) 2,611
Net cash provided by operating activities 7,485 9,842
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (14,247) (7,705)
Proceeds from the sale of property and equipment 35 2,546
Acquisition of business, net of cash acquired 0 (10,812)
Net cash used in investing activities (14,212) (15,971)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal debt payments (3,716) (2,534)
Debt issuance costs 0 (60)
Payment for contingent consideration liability (1,394) 0
Dividends paid (68) (68)
Payment for employee taxes withheld from stock awards (266) (332)
Net cash used in financing activities (5,444) (2,994)
Effect of foreign currency on cash 213 (66)
Net change in cash and restricted cash (11,958) (9,189)
Cash and restricted cash at beginning of period 40,519 25,579
Cash and restricted cash at end of period $ 28,561 $ 16,390