Company: DXPE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001020710-25-000036
Chunk: 27

Company: DXP ENTERPRISES INC
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7A
Chunk 27
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 proceeds of casualty insurance or condemnation awards in respect of any equipment and real estate which DXP is not required to use to prepay the ABL Loans pursuant to the Term Loan B Agreement or with the proceeds of casualty insurance or condemnation awards in respect of any other property) minus cash taxes paid (net of cash tax refunds received during such period), to (b) fixed charges. The Company is restricted from allowing its fixed charge coverage ratio be less than 1.00 to 1.00 during a compliance period, which is triggered when the availability under the ABL Revolver falls below a threshold set forth in the ABL Credit Agreement. As of December 31, 2024, the Company's Fixed Charge Coverage Ratio was 1.70 to 1.00.

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Maturities of Debt: As of December 31, 2024, the maturities of long-term debt for the next five years and thereafter were as follows (in thousands):Amount2025$6,595 20266,595 20276,595 20286,595 20297,095 Thereafter615,401 Total$648,876 

NOTE 10 - INCOME TAXES

The components of income before income taxes are as follows (in thousands): Years Ended December 31, 202420232022Domestic$77,309 $79,785 $59,736 Foreign7,663 7,146 6,165 Total income before taxes$84,972 $86,931 $65,901 The provision for income taxes consisted of the following (in thousands): Years Ended December 31, 202420232022Current -   Federal$22,066 $22,514 $18,591 State5,217 2,620 4,501 Foreign2,190 2,044 2,248 Total current29,473 27,178 25,340 Deferred -   Federal(13,597)(7,679)(5,875)State(1,347)(1,133)(1,083)Foreign(46)(247)(583)Total deferred(14,990)(9,059)(7,541)Total current and deferred taxes$14,483 $18,119 $17,799 

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The difference between income taxes computed at the statutory income tax rate and the provision for income taxes is as follows  (in thousands):