XML 57 R40.htm IDEA: XBRL DOCUMENT
v3.23.1

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Income (Loss) Before Income Taxes | The components of income (loss) before income taxes are as follows (in thousands):
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Domestic | $ | 59,736 |  |  | $ | 9,897 |  |  | $ | (33,239) |
Foreign | 6,165 |  |  | 9,285 |  |  | (15,074) |
Total income before taxes | $ | 65,901 |  |  | $ | 19,182 |  |  | $ | (48,313) |
Schedule of Provision for Income Taxes | The provision for income taxes consisted of the following (in thousands):
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Current - |  |  |  |  |
Federal | $ | 18,591 |  |  | $ | (5,243) |  |  | $ | (6,348) |
State | 4,501 |  |  | (522) |  |  | (240) |
Foreign | 2,248 |  |  | 3,056 |  |  | 2,624 |
Total current | $ | 25,340 |  |  | $ | (2,709) |  |  | $ | (3,964) |
Deferred - |  |  |  |  |
Federal | (5,875) |  |  | 5,016 |  |  | (10,567) |
State | (1,083) |  |  | 1,810 |  |  | (3,126) |
Foreign | (583) |  |  | (686) |  |  | (1,039) |
Total deferred | $ | (7,541) |  |  | $ | 6,140 |  |  | $ | (14,732) |
Total current and deferred taxes | $ | 17,799 |  |  | $ | 3,431 |  |  | $ | (18,696) |
Schedule of Differences Between Income Taxes Computed at Statutory Income Tax Rate and Provision For Income Taxes | The difference between income taxes computed at the statutory income tax rate and the provision for income taxes is as follows (in thousands):
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Income taxes computed at federal statutory rate | $ | 13,839 |  |  | $ | 4,028 |  |  | $ | (10,146) |
State income taxes, net of federal benefit | 2,701 |  |  | 1,017 |  |  | (2,625) |
Foreign taxes | 122 |  |  | 186 |  |  | (493) |
Nondeductible expenses | 1,158 |  |  | 353 |  |  | 5,617 |
Enacted rate changes | 240 |  |  | 318 |  |  | 670 |
Research and development tax credit | (250) |  |  | (1,036) |  |  | (16,879) |
Foreign tax credit | — |  |  | — |  |  | — |
Valuation allowance | (1) |  |  | 1 |  |  | 16 |
Tax reform deferred tax remeasurement | — |  |  | (2,587) |  |  | — |
Deferred tax liability true up | — |  |  | (62) |  |  | (551) |
Uncertain tax positions | 271 |  |  | 871 |  |  | 5,057 |
Other | (281) |  |  | 342 |  |  | 638 |
Total income tax expense (benefit) | $ | 17,799 |  |  | $ | 3,431 |  |  | $ | (18,696) |
Deferred tax liabilities and assets were comprised of the following (in thousands):
Schedule of Deferred Tax Liabilities and Assets |
| December 31,
| 2022 |  | 2021
Deferred tax assets: |  |  |
Allowance for doubtful accounts | $ | 1,570 |  |  | $ | 1,554 |
Inventory | 4,585 |  |  | 4,747 |
Federal general business credit carryforward | — |  |  | 4,237 |
Texas research and development tax credit carryforward | 2,329 |  |  | 2,679 |
Louisiana research and development tax credit carryforward | 10 |  |  | 239 |
Foreign tax credit carryforward | 64 |  |  | 64 |
Charitable Contribution Carryforward | — |  |  | 531 |
Net operating loss carryforward | 1,201 |  |  | 786 |
Capital loss carryforward | 4 |  |  | 4 |
Deferred compensation | — |  |  | 152 |
Accruals | 6,190 |  |  | 7,005 |
Business interest expense carryforward | — |  |  | 389 |
ROU asset | 219 |  |  | 226 |
Research expenses | 16,945 |  |  | — |
Other | — |  |  | — |
Total deferred tax assets | 33,117 |  |  | 22,613 |
Less valuation allowance | (4) |  |  | (4) |
Total deferred tax asset, net of valuation allowance | 33,113 |  |  | 22,609 |
Deferred tax liabilities: |  |  |
Goodwill | (18,439) |  |  | (13,474) |
Intangibles | (9,553) |  |  | (6,813) |
Property and equipment | (8,542) |  |  | (8,117) |
Unremitted foreign earnings | (421) |  |  | (421) |
Method changes | (225) |  |  | (465) |
Other | (825) |  |  | (835) |
Net deferred tax liability | $ | (4,892) |  |  | $ | (7,516) |
Schedule of Changes in Valuation Allowance for Deferred Tax Assets | The following summarizes changes in the balance of valuation allowances on deferred tax assets (in thousands):
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Balance at January 1 | $ | (4) |  |  | $ | (12,813) |  |  | $ | (12,363) |
Changes due to federal and foreign capital loss carryforwards | — |  |  | 12,809 |  |  | (450) |
Balance at December 31 | $ | (4) |  |  | $ | (4) |  |  | $ | (12,813) |
Schedule of Tax Carryforwards | Tax carryforwards available for use on future income tax returns, prior to valuation allowance, at December 31, 2022, are as follows (in thousands):
| Domestic |  | Foreign |  | Expiration
Net operating loss - foreign | $ | — |  |  | $ | 460 |  |  | 2034 - 2041
Net operating loss - federal | 742 |  |  | — |  |  | 2036 - 2040
Capital loss carryforward - foreign | — |  |  | 4 |  |  | Indefinite
Capital loss carryforward - federal | — |  |  | — |  |  | 2021
Foreign tax credits | 64 |  |  | — |  |  | 2023 - 2025
Federal general business tax credits | — |  |  | — |  |  | 2026 - 2030
Texas research and development tax credits | 2,330 |  |  | — |  |  | 2037 - 2040
Louisiana research and development tax credits | $ | 10 |  |  | $ | — |  |  | 2024 - 2025
Schedule of Changes in Unrecognized Tax Benefits | Changes in the balance of unrecognized tax benefits excluding interest and penalties on uncertain tax positions are as follows (in thousands):
| Assets (Liabilities)
| 2022 |  | 2021 |  | 2020
Balance at January 1, | $ | (6,316) |  |  | $ | (5,057) |  |  | $ | — |
Increases related to prior year tax positions | — |  |  | (687) |  |  | (5,057) |
Decreases related to prior year tax positions | 614 |  |  | — |  |  | — |
Increases related to current year tax positions | (216) |  |  | (572) |  |  | — |
Balance at December 31, | $ | (5,918) |  |  | $ | (6,316) |  |  | $ | (5,057) |

X
- Definition Summary Of Operating Loss Carryforwards And Tax Credit Carryforwards + References No definition available. + Details
Name: | dxpe_SummaryOfOperatingLossCarryforwardsAndTaxCreditCarryforwardsTableTextBlock
Namespace Prefix: | dxpe_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration