XML 28 R42.htm IDEA: XBRL DOCUMENT v2.4.1.9

QUARTERLY FINANCIAL INFORMATION (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

QUARTERLY FINANCIAL INFORMATION (Unaudited) [Abstract]

Summarized Quarterly Financial Information

Summarized quarterly financial information for the years ended December 31, 2014, 2013 and 2012 is as follows (in millions, except per share data):

	First	Second	Third	Fourth
	Quarter(1)	Quarter(1)	Quarter(1)	Quarter
2014
Sales	$ 348.5	$ 381.6	$ 387.0	$  382.6
Gross profit	101.7	111.0	113.4	106.7
Impairment expense	-	-	-
Net income (loss)	10.9	14.9	17.0	(88.1)
Earnings (loss) per share - basic	$ 0.74	$ 1.01	$  1.16	$  (6.09)
Earnings (loss) per share - diluted	$ 0.70	$ 0.96	$  1.10	$  (6.09)
2013
Sales	$ 290.1	$ 307.9	$ 329.7	$313.8
Gross profit	89.1	91.5	97.1	94.6
Net income	13.2	13.7	16.4	16.9
Earnings per share - basic	$ 0.92	$ 0.95	$ 1.13	$ 1.17
Earnings per share - diluted	$ 0.87	$ 0.90	$ 1.07	$ 1.10
2012
Sales	$ 252.3	$ 261.9	$ 289.9	$ 293.0
Gross profit	71.5	76.6	83.5	87.5
Net income	11.6	12.2	13.1	14.1
Earnings per share - basic	$ 0.81	$ 0.84	$ 0.91	$ 0.98
Earnings per share - diluted	$ 0.77	$ 0.80	$ 0.86	$ 0.92

.

The sum of the individual quarterly earnings per share amounts may not agree with year-to-date earnings per share as each quarter’s computation is based on the weighted average number of shares outstanding during the quarter, the weighted average stock price during the quarter and the dilutive effects of the stock options and restricted stock in each quarter.

(1) During the fourth quarter of 2014, DXP finalized its purchase accounting for customer relationships for the acquisition of B27 and amortized the customer relationships on an accelerated basis. The revision increased amortization expense by $1.0 million per quarter. The first three quarters of 2014 were revised as follows:

	Previously Reported First Quarter	Adjusted First Quarter	Previously Reported Second Quarter	Adjusted Second Quarter	Previously Reported Third Quarter	Adjusted Third Quarter
Sales	$ 348.5	$ 348.5	$ 381.6	$ 381.6	$ 387.0	$ 387.0
Gross profit	101.7	101.7	111.0	111.0	113.4	113.4
Net income (loss)	11.6	10.9	15.5	14.9	17.6	17.0
Earnings (loss) per share
Basic	$ 0.79	$ 0.74	$ 1.06	$ 1.01	$ 1.20	$ 1.16
Diluted	$ 0.75	$ 0.70	$ 1.00	$ 0.96	$ 1.14	$ 1.10

X

- Details

Name:	us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 270

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)-(j)

-URI http://asc.fasb.org/extlink&oid=35737889&loc=d3e1280-108306

+ Details

Name:	us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration