Company: DXPE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001020710-25-000036
Chunk: 73

Company: DXP ENTERPRISES INC
Filing Date: 2025-03-10
Form: 10-K
Item: Item 8
Chunk 73
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 the carrying amount of goodwill and other intangible assets during the year ended December 31, 2024 (in thousands):  GoodwillOtherIntangibleAssets, NetTotalBalances as of December 31, 2023$343,991 $63,895 $407,886 Translation adjustment(1,380)(10)(1,390)Acquisitions 109,732 41,621 151,353 Amortization— (19,827)(19,827)Balances as of December 31, 2024$452,343 $85,679 $538,022 The following table presents the changes in the carrying amount of goodwill and other intangible assets during the year ended December 31, 2023 (in thousands): GoodwillOtherIntangibleAssets, NetTotalBalances as of December 31, 2022$333,759 $79,584 $413,343 Translation adjustment464 15 479 Acquisitions9,768 2,527 12,295 Amortization— (18,231)(18,231)Balances as of December 31, 2023$343,991 $63,895 $407,886 The following table presents the goodwill balance by reportable segment as of December 31, 2024 and 2023 (in thousands):December 31, 20242023Service Centers$335,611 $270,865 Innovative Pumping Solutions99,593 55,987 Supply Chain Services17,139 17,139 Total$452,343 $343,991 Gross carrying amounts as well as accumulated amortization are partially affected by the fluctuation of 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):Amount2025$20,734 202617,982 202716,002 202813,851 20296,801 Thereafter10,309 Total$85,679 The weighted average remaining estimated life for customer relationships, trade names, and non