Company: DXPE
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001020710-25-000081
Chunk: 103

Company: DXP ENTERPRISES INC
Filing Date: 2025-04-30
Form: ARS
Chunk 103
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 from operations $ 145,382 $ 138,722 $ 97,752 Interest expense 63,927 53,146 29,135 Other expense (income), net (3,517) (1,355) 2,716 Income before income taxes $ 84,972 $ 86,931 $ 65,901 (1) Amortization of intangible assets is recorded at the corporate level. Corporate expenses includes selling, general, and administrative expenses, amortization of finance leases, and other expenses that are not directly attributable to a reportable segment. The Company had capital expenditures at corporate of $18.0 million, $4.2 million, and $0.7 million for the years ended December 31, 2024, 2023, and 2022, respectively. The Company had identifiable assets at corporate of $210.8 million, $221.1 million, and $55.1 million as of December 31, 2024, 2023, and 2022, respectively. Corporate depreciation was $2.5 million, $1.9 million, and $1.9 million for the years ended December 31, 2024, 2023, and 2022, respectively. Amortization of finance leases for Corporate was $0.3 million and $0.2 million for the years ended December 31, 2024 and December 31, 2023. NOTE 21 – RELATED PARTIES DISCLOSURES The Board uses policies and procedures, to be applied by the Audit Committee of the Board, for review, approval or ratification of any transactions with related persons. Those policies and procedures will apply to any proposed transactions in which the Company is a participant, the amount involved exceeds $120,000 and any director, executive officer or significant shareholder or any immediate family member of such a person has a direct or material indirect interest. Any related party transaction will be reviewed by the Audit Committee of the Board of Directors to determine, among other things, the benefits of any transaction to the Company, the availability of other sources of comparable products or services and whether the terms of the proposed transaction are comparable to those provided to unrelated third parties. The Company incurred approximately $1.9 million, $1.8 million, and $1.9 million in lease expenses to entities controlled by the Company’s Chief Executive Officer and family for the years ended December 31, 2024, 2023 and 2022, respectively.