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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income attributable to DXP Enterprises, Inc. $ 5,710 $ 7,291
Less: net loss attributable to non-controlling interest (62) (104)
Net income 5,648 7,187
Reconciliation of net income to net cash used in operating activities:    
Depreciation 2,828 2,392
Amortization of intangible assets 3,197 3,814
Gain on sale of property and equipment 0 (8)
Bad debt expense 28 58
Payment of contingent consideration liability in excess of acquisition-date fair value 0 (106)
Fair value adjustment on contingent consideration 13 33
Amortization of debt issuance costs 468 468
Stock compensation expense 904 505
Deferred income taxes 928 722
Changes in operating assets and liabilities    
Trade accounts receivable (5,183) (5,035)
Costs and estimated profits in excess of billings (3,381) (5,628)
Inventories (2,215) (6,891)
Prepaid expenses and other assets (1,933) 3,389
Trade accounts payable and accrued expenses 6,048 1,085
Billings in excess of costs and estimated profits (7,327) (2,514)
Other long-term liabilities (1,635) (4,781)
Net cash used in operating activities (1,612) (5,310)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (3,235) (2,312)
Proceeds from the sale of property and equipment 0 29
Acquisition of business, net of cash acquired (14,153) 0
Net cash used in investing activities (17,388) (2,283)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal debt payments (625) (849)
Payment for contingent consideration liability 0 (1,394)
Dividends paid (23) (23)
Payment for employee taxes withheld from stock awards (94) (44)
Net cash used in financing activities (742) (2,310)
Effect of foreign currency on cash (1,730) 112
Net change in cash and restricted cash (21,472) (9,791)
Cash and restricted cash at beginning of period 54,326 40,519
Cash and restricted cash at end of period $ 32,854 $ 30,728