XML 37 R25.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

LONG-TERM DEBT (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Components of Company's Long-term Debt | The components of the Company's long-term debt consisted of the following (in thousands):
| March 31, 2024 |  | December 31, 2023
ABL Revolver | $ | — |  |  |  |  | $ | — |  |  |
Senior Secured Term Loan B due October 13, 2030(1) | 547,250 |  |  |  |  | 548,625 |  |  |
Total debt | 547,250 |  |  |  |  | 548,625 |  |  |
Less: current maturities | (5,500) |  |  |  |  | (5,500) |  |  |
Total long-term debt | $ | 541,750 |  |  |  |  | $ | 543,125 |  |  |
Unamortized discount and debt issuance costs | 21,533 |  |  |  |  | 22,428 |  |  |
Long-term debt, net of unamortized discount and debt issuance costs | $ | 520,217 |  |  |  |  | $ | 520,697 |  |  |
(1) The fair value of the Term Loan B due October 13, 2030 was $551.4 million and $554.1 million as of March 31, 2024 and December 31, 2023, respectively.
Schedule of Covenant Compliance | Secured Leverage Ratio – The Term Loan B Agreement requires that the Company’s Secured Leverage Ratio, defined as the ratio, as of the last day of any fiscal quarter of consolidated secured debt (net of unrestricted cash, not to exceed $200 million) as of such day to EBITDA, beginning with the fiscal quarter ending March 31, 2024, is either equal to or less than as indicated in the table below:
Fiscal Quarter |  | Secured Leverage Ratio |
March 31, 2024 |  | 5.75:1.00 |
June 30, 2024 |  | 5.50:1.00 |
September 30, 2024 |  | 5.50:1.00 |
December 31, 2024 |  | 5.50:1.00 |
March 31, 2025 |  | 5.25:1.00 |
June 30, 2025 |  | 5.25:1.00 |
September 30, 2025 |  | 5.25:1.00 |
December 31, 2025 |  | 5.00:1.00 |
March 31, 2026 |  | 5.00:1.00 |
June 30, 2026 and thereafter |  | 4.75:1.00 |
Schedule of Maturities of Long-Term Debt | As of March 31, 2024, the maturities of long-term debt for the next five years and thereafter were as follows (in thousands):
|  | Amount
2024 |  | $ | 4,125 |
2025 |  | 5,500 |
2026 |  | 5,500 |
2027 |  | 5,500 |
2028 |  | 5,500 |
Thereafter |  | 521,125 |
Total |  | $ | 547,250 |

X
- Definition Schedule Of Debt Instrument, Covenant Compliance, Secured Leverage Ratio + References No definition available. + Details
Name: | dxpe_ScheduleOfDebtInstrumentCovenantComplianceSecuredLeverageRatioTableTextBlock
Namespace Prefix: | dxpe_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-2 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482949/835-30-55-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480848/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481544/470-10-50-1 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration