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BUSINESS ACQUISITIONS (Tables)
 12 Months Ended
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
)