BUSINESS ACQUISITIONS (Tables)

9 Months Ended

Sep. 30, 2015

Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed during 2014 and 2015 in connection with the acquisitions described above (in thousands):

	2015				2014
	TSI²		Cortech²			B27	MT&S
Cash	$	-	$	-	$	2,538	$	806
Accounts receivable, net		442		2,293		51,448		5,656
Inventory		475		1,243		6,472		2,522
Property & equipment		42		253		14,573		557
Goodwill and intangibles¹		4,929		13,699		259,412		8,405
Other assets		100		21		1,791		59
Assets acquired		5,988		17,509		336,234		18,005
Current liabilities assumed		335		2,610		26,690		3,336
Non-current liabilities assumed		653		-		15,992		-
Net assets acquired	$	5,000	$	14,899	$	293,552	$	14,669

(1) The amounts in the table above have not been reduced by the $105.3 million, or the $57.8 million, of goodwill impairment charges for B27 recorded in the fourth quarter of 2014 and the third quarter of 2015, respectively.

(2) Preliminary allocation.

Pro Forma Unaudited Results of Operations

The pro forma unaudited results of operations for the Company on a consolidated basis for the three and nine months ended September 30, 2015 and 2014, assuming the acquisition of businesses completed in 2014 and 2015 were consummated as of January 1, 2014 are as follows (in thousands, except per share data):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2015			2014		2015			2014
Net sales	$	306,923		$	394,590	$	984,247		$	1,150,171
Net income (loss) attributable to DXP Enterprises, Inc.	$	(52,235	)	$	17,968	$	(34,551	)	$	45,848
Per share data attributable to DXP Enterprises, Inc.
Basic earnings (loss)	$	(3.62	)	$	1.22	$	(2.41	)	$	3.12
Diluted earnings (loss)	$	(3.62	)	$	1.16	$	(2.41	)	$	2.95