Company: DXPE
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001020710-25-000081
Chunk: 83

Company: DXP ENTERPRISES INC
Filing Date: 2025-04-30
Form: ARS
Chunk 83
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 foreign currency rates. Other intangible assets are amortized according to estimated economic benefits over their estimated useful lives. Amortization expense was $19.8 million, $18.2 million, and $18.9 million for the years ended December 31, 2024, 2023, and 2022, respectively. The estimated future annual amortization of intangible assets for each of the next five years and thereafter are as follows (in thousands): Amount 2025 $ 20,734 2026 17,982 2027 16,002 2028 13,851 2029 6,801 Thereafter 10,309 Total $ 85,679 The weighted average remaining estimated life for customer relationships, trade names, and non-compete agreements are 5.8, 9.4, and 3.3 years, respectively. Table of Contents 62

NOTE 9 – LONG-TERM DEBT Long-term debt consisted of the following (in thousands): December 31, 2024 2023 ABL Revolver $ — $ — Amended Senior Secured Term Loan B due October 13, 2030(1) 647,876 — Senior Secured Term Loan B due October 13, 2030(2) — 548,625 Promissory Note due November 1, 2029 1,000 — Total debt 648,876 548,625 Less: current maturities (6,595) (5,500) Total long-term debt 642,281 543,125 Unamortized discount and debt issuance costs 20,597 22,428 Long-term debt, net of unamortized discount and debt issuance costs $ 621,684 $ 520,697 (1) The fair value of the Amended Term Loan B due October 13, 2030 using level 2 input values was $657.6 million as of December 31, 2024. (2) The fair value of the Term Loan B due October 13, 2030 using level 2 input values was $554.1 million as of December 31, 2023. Senior Secured Term Loan B: On October 3, 2024, the Company entered into an amendment on its existing Senior Secured Term Loan B (the “Term Loan Amendment”), which provides for, among other things, an additional $105.0 million in new incremental commitments. The Term