Company: DXPE
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001020710-25-000081
Chunk: 88

Company: DXP ENTERPRISES INC
Filing Date: 2025-04-30
Form: ARS
Chunk 88
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 follows (in thousands): Amount 2025 $ 6,595 2026 6,595 2027 6,595 2028 6,595 2029 7,095 Thereafter 615,401 Total $ 648,876 NOTE 10 - INCOME TAXES The components of income before income taxes are as follows (in thousands): Years Ended December 31, 2024 2023 2022 Domestic $ 77,309 $ 79,785 $ 59,736 Foreign 7,663 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, 2024 2023 2022 Current - Federal $ 22,066 $ 22,514 $ 18,591 State 5,217 2,620 4,501 Foreign 2,190 2,044 2,248 Total current 29,473 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 Table of Contents 66

The difference between income taxes computed at the statutory income tax rate and the provision for income taxes is as follows (in thousands): Years Ended December 31, 2024 2023 2022 Income taxes computed at federal statutory rate $ 17,844 $ 18,255 $ 13,839 State income taxes, net of federal benefit 1,935 1,669 2,701 Foreign taxes 352 144 122 Nondeductible expenses 1,048 2,670 1,158 Return to Provision Adjustment (1,105) — — Blended state rate change 1,122 (58) 240 General business credit (6,399) (4,811) (250) Valuation allowance (57) 274 (1) Restricted Stock (2,056) — — Uncertain tax positions 1,732 (33) 271 Other 67 9 (281) Total income tax expense $ 14,483 $