Company: DXPE
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001020710-25-000081
Chunk: 67

Company: DXP ENTERPRISES INC
Filing Date: 2025-04-30
Form: ARS
Chunk 67
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 20,319,226 issued and 16,177,237 outstanding at December 31, 2023 204 345 Additional paid-in capital 219,511 216,482 Retained earnings 389,670 319,271 Accumulated other comprehensive loss (33,610) (31,240) Treasury stock, at cost 4,707,773 and 4,141,989 shares, respectively (153,003) (123,995) Total DXP Enterprises, Inc. equity 422,788 380,879 Total liabilities and equity $ 1,349,494 $ 1,177,436 The accompanying notes are an integral part of these consolidated financial statements. Table of Contents 50

DXP ENTERPRISES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Twelve Months Ended December 31, 2024 2023 2022 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 70,489 $ 68,812 $ 48,102 Reconciliation of net income to net cash provided by operating activities: Depreciation 9,019 8,423 9,585 Amortization of intangibles and fixed assets 24,386 21,682 18,915 Amortization of debt issuance costs 3,646 2,991 1,842 (Recovery of) provision for credit losses (887) (885) 659 Payment of contingent consideration liability in excess of acquisition-date fair value (108) (160) (781) Fair value adjustment on contingent consideration 745 1,738 2,311 Loss on debt extinguishment 494 1,201 — Restricted stock compensation expense 4,714 3,072 1,850 Deferred income taxes (14,990) (9,059) (7,541) Loss on sale of interest in VIE — — 1,193 Changes in operating assets and liabilities, net of effects of businesses acquired: Accounts receivable (12,552) 13,293 (93,940) Cost and estimated profits in excess of billings (8,506) (18,720) (6,429) Inventories 8,432 (2,026) 2,072 Prepaid expenses and other assets 7,655 9,666 (11,865) Accounts payable and accrued expenses 7,547 10,604 35,965