Company: DXPE
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001020710-25-000092
Chunk: 36

Company: DXP ENTERPRISES INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 guidance, including administrative guidance on how Pillar Two rules should be interpreted and applied by jurisdictions as they adopt Pillar Two. A number of countries have utilized the administrative guidance as a starting point for legislation that went into effect January 1, 2024. As of March 31, 2025, DXP anticipates the impact of Pillar Two to be immaterial to the Company based on current legislation that has been enacted to date.

NOTE 8 – LONG-TERM DEBT

Long-term debt consisted of the following (in thousands): March 31, 2025December 31, 2024ABL Revolver$— $— Amended Senior Secured Term Loan B due October 13, 2030(1)646,253 647,876 Promissory Note due November 1, 20291,000 1,000 Total debt647,253 648,876 Less: current maturities(6,595)(6,595)Total long-term debt$640,658 $642,281 Unamortized discount and debt issuance costs19,757 20,597 Long-term debt, net of unamortized discount and debt issuance costs$620,901 $621,684 (1) The fair value of the Amended Term Loan B due October 13, 2030 using level 2 input values was $645.4 million and $657.6 million as of March 31, 2025 and December 31, 2024, respectively.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 Loan Amendment refinanced the existing Senior Term Loan B and replaced it with an Amended Senior Secured Term Loan B with total borrowings of $649.5 million. The Senior Secured Term Loan B amortizes in equal quarterly installments of 0.25%, with the remaining balance being payable on October 13, 2030, when the facility matures. As of March 31, 2025 there was $646.3 million outstanding under the Amended Senior Secured Term Loan B.Interest rateThe interest rate for the Amended Senior Secured Term Loan B was 8.07% and