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BUSINESS ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2016
BUSINESS ACQUISITIONS [Abstract] |
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 2015 in connection with the acquisitions described above (in thousands):
|  | 2015 |
|  | TSI |  |  | CORTECH |
Cash |  | $ | - |  |  | $ | - |
Accounts Receivable, net |  |  | 442 |  |  |  | 2,293 |
Inventory |  |  | 475 |  |  |  | 1,243 |
Property and equipment |  |  | 42 |  |  |  | 253 |
Goodwill and intangibles |  |  | 4,929 |  |  |  | 13,897 |
Other assets |  |  | 100 |  |  |  | 21 |
Assets acquired |  |  | 5,988 |  |  |  | 17,707 |
Current liabilities assumed |  |  | (335 | ) |  |  | (2,610 | )
Non-current liabilities assumed1 |  |  | (653 | ) |  |  | (198 | )
Net assets acquired |  | $ | 5,000 |  |  | $ | 14,899 |
(1) | Includes deferred tax liability of $0.6 million related to intangible assets acquired for 2015.
Pro Forma Unaudited Results of Operations | The pro forma unaudited results of operations for the Company on a consolidated basis for the twelve months ended December 31, 2016 and 2015, assuming the acquisition of businesses completed in 2015 and the divestiture of a business completed in 2016 (previously discussed in Item 1, Business) were consummated as of January 1, 2015 are as follows (in millions, except per share amounts):
|  | Years Ended December 31, |
|  | 2016 |  |  | 2015 |
Net sales |  | $ | 939.4 |  |  | $ | 1,228.9 |
Net income (loss) attributable to DXP Enterprises, Inc. |  | $ | 5.5 |  |  | $ | (40.7 | )
Per share data attributable to DXP Enterprises, Inc. |  |  |  |  |  |  |  |
Basic earnings (loss) |  | $ | 0.37 |  |  | $ | (2.83 | )
Diluted earnings (loss) |  | $ | 0.35 |  |  | $ | (2.83 | )
The pro forma unaudited results of operations for the Company on a consolidated basis for the twelve months ended December 31, 2015 and 2014, assuming the acquisition of businesses completed in 2015 and 2014 (previously discussed in Item 1, Business) were consummated as of January 1, 2014 are as follows (in millions, except per share amounts):
|  | Years Ended December 31, |
|  | 2015 |  |  | 2014 |
Net sales |  | $ | 1,263 |  |  | $ | 1,541 |
Net income (loss) |  | $ | (37 | ) |  | $ | (44 | )
Per share data |  |  |  |  |  |  |  |
Basic earnings (loss) |  | $ | (2.60 | ) |  | $ | (2.99 | )
Diluted earnings (loss) |  | $ | (2.60 | ) |  | $ | (2.99 | )

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
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