DXP Enterprises (DXPE) 10-Q 4 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 04, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'DXP ENTERPRISES INC	'
Entity Central Index Key	'0001020710	'
Current Fiscal Year End Date	'--12-31	'
Entity Well-known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	14,223,255
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Current assets:	'	'
Cash	$8,271	$10,455
Trade accounts receivable, net of allowances for doubtful accounts of $8,962 in 2013 and $7,204 in 2012	196,036	174,832
Inventories, net	110,207	101,422
Prepaid expenses and other current assets	3,692	3,811
Deferred income taxes	7,158	5,182
Total current assets	325,364	295,702
Property and equipment, net	60,751	58,713
Goodwill	186,847	145,788
Other intangible assets, net of accumulated amortization of $46,471 in 2013 and $31,699 in 2012	73,412	63,189
Other long-term assets	5,127	6,340
Total assets	651,501	569,732
Current liabilities:	'	'
Current maturities of long-term debt	23,776	22,057
Trade accounts payable	91,918	74,356
Accrued wages and benefits	23,741	15,216
Federal income taxes payable	8,033	1,696
Customer advances	5,047	2,996
Other current liabilities	7,162	12,131
Total current liabilities	159,677	128,452
Long-term debt, less current maturities	212,375	216,339
Non-current deferred income taxes	22,492	16,448
Commitments and Contingencies (Note 13)	'	'
Shareholders' equity:	'	'
Common stock, $0.01 par value, 100,000,000 shares authorized; 14,210,158 in 2013 and 14,118,348 in 2012 shares issued	143	141
Additional paid-in capital	84,374	78,554
Retained earnings	176,855	133,590
Accumulated other comprehensive income	740	1,059
Treasury stock, at cost (146,871 shares in 2013 and 141,471 in 2012)	-5,171	-4,867
Total shareholders' equity	256,957	208,493
Total liabilities and stockholders' equity	651,501	569,732
Series A Preferred Stock [Member]	'	'
Shareholders' equity:	'	'
Preferred stock	1	1
Series B Convertible Preferred Stock [Member]	'	'
Shareholders' equity:	'	'
Preferred stock	$15	$15

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, except Share data, unless otherwise specified
Current assets:	'	'
Trade accounts receivable, allowances for doubtful accounts	$8,962	$7,204
Accumulated amortization	$46,471	$31,699
Shareholders' equity:	'	'
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock shares issued (in shares)	14,210,158	14,118,348
Treasury stock (in shares)	146,871	141,471
Series A Preferred Stock [Member]	'	'
Shareholders' equity:	'	'
Preferred stock, voting rights	'1/10th vote per share	'1/10th vote per share
Preferred stock, par value (in dollars per share)	$1	$1
Preferred stock, liquidation preference (in dollars per share)	$112	$112
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	1,122	1,122
Preferred stock, outstanding (in shares)	1,122	1,122
Series B Convertible Preferred Stock [Member]	'	'
Shareholders' equity:	'	'
Preferred stock, voting rights	'1/10th vote per share	'1/10th vote per share
Preferred stock, par value (in dollars per share)	$1	$1
Preferred stock, liquidation preference (in dollars per share)	$1,500	$1,500
Preferred stock, Stated value (in dollars per share)	$100	$100
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	15,000	15,000
Preferred stock, outstanding (in shares)	15,000	15,000

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME [Abstract]	'	'	'	'
Sales	$329,719	$289,923	$927,758	$804,104
Cost of sales	232,598	206,414	650,015	572,492
Gross profit	97,121	83,509	277,743	231,612
Selling, general and administrative expense	70,223	58,995	204,876	166,346
Operating income	26,898	24,514	72,867	65,266
Other income, net	-38	-21	-16	-33
Interest expense	1,614	2,287	4,930	3,878
Income before income taxes	25,322	22,248	67,953	61,421
Provision for income taxes	8,970	9,156	24,620	24,506
Net income	16,352	13,092	43,333	36,915
Preferred stock dividend	23	23	68	68
Net income attributable to common shareholders	16,329	13,069	43,265	36,847
Net income	16,352	13,092	43,333	36,915
Loss on long-term investment, net of income taxes	-13	-5	-755	-286
Cumulative translation adjustment	2,198	1,480	500	1,363
Comprehensive income	$18,537	$14,567	$43,078	$37,992
Basic earnings per share (in dollars per share)	$1.13	$0.91	$3	$2.56
Weighted average common shares outstanding (in shares)	14,444	14,411	14,430	14,375
Diluted earnings per share (in dollars per share)	$1.07	$0.86	$2.84	$2.43
Weighted average common shares and common equivalent shares outstanding (in shares)	15,284	15,251	15,270	15,215

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
CASH FLOW FROM OPERATING ACTIVITIES:	'	'
Net income	$43,333	$36,915
Adjustments to reconcile net income to net cash provided by operating activities	'	'
Depreciation	6,934	4,844
Amortization of intangible assets	9,221	8,264
Write-off of debt issuance costs	0	654
Compensation expense for restricted stock	2,150	1,491
Tax benefit related to vesting of restricted stock	-572	-512
Deferred income taxes	-3,966	1,974
Changes in operating assets and liabilities, net of assets and liabilities acquired in business acquisitions:	'	'
Trade accounts receivable	-3,896	-16,539
Inventories	-250	-2,789
Prepaid expenses and other assets	1,689	-1,788
Accounts payable and accrued expenses	13,028	-11,251
Net cash provided by operating activities	67,671	21,263
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchase of property and equipment	-6,389	-13,076
Purchase of long-term investment	-68	0
Acquisitions of businesses, net of cash acquired	-61,421	-137,847
Net cash used in investing activities	-67,878	-150,923
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Proceeds from debt	362,224	343,031
Principal payments on revolving line of credit and other long-term debt	-364,251	-202,464
Dividends paid	-68	-68
Purchase of treasury stock	-304	-1,046
Tax benefit related to vesting of restricted stock	572	512
Net cash (used in) provided by financing activities	-1,827	139,965
EFFECT OF FOREIGN CURRENCY ON CASH	-150	368
NET CHANGE IN CASH AND CASH EQUIVALENTS	-2,184	10,673
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	10,455	1,507
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$8,271	$12,180

THE_COMPANY

THE COMPANY	9 Months Ended
	Sep. 30, 2013
THE COMPANY [Abstract]	'
THE COMPANY	'
	NOTE 1 - THE COMPANY
	DXP Enterprises, Inc. together with its subsidiaries (collectively "DXP," "Company," "us," "we," or "our") was incorporated in Texas on July 26, 1996, to be the successor to SEPCO Industries, Inc. DXP Enterprises, Inc. and its subsidiaries are engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers. The Company is organized into three business segments: Service Centers, Supply Chain Services (SCS) and Innovative Pumping Solutions (IPS). See Note 12 for discussion of the business segments.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES	9 Months Ended
	Sep. 30, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES	'
	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES
	Basis of Presentation
	The Company's financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("USGAAP"). The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. The accompanying unaudited condensed consolidated financial statements have been prepared on substantially the same basis as our annual consolidated financial statements and should be read in conjunction with our annual report on Form 10-K for the year ended December 31, 2012. For a more complete discussion of our significant accounting policies and business practices, refer to the consolidated annual report on Form 10-K filed with the Securities and Exchange Commission on March 11, 2013.
	All significant intercompany accounts and transactions have been eliminated in consolidation. Certain prior year amounts have been reclassified to conform to the current year presentation.

RECENT_ACCOUNTING_PRONOUNCEMEN

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2013
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]	'
RECENT ACCOUNTING PRONOUNCEMENTS	'
	NOTE 3 - RECENT ACCOUNTING PRONOUNCEMENTS
	In May 2011, the FASB issued an amendment to the fair value measurement guidance and disclosure requirements. The new requirements were effective for the first interim or annual period beginning after December 15, 2011 and were to be applied prospectively. DXP adopted the new requirements in the first quarter of 2012; however, the adoption of this guidance did not have a material effect on its consolidated financial position, results of operations or cash flows.

FAIR_VALUE_OF_FINANCIAL_ASSETS

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2013
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES [Abstract]	'
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES	'
	NOTE 4 - FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
	Authoritative guidance for financial assets and liabilities measured on a recurring basis applies to all financial assets and financial liabilities that are being measured and reported on a fair value basis. Fair value, as defined in the authoritative guidance, is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The authoritative guidance affects the fair value measurement of an investment with quoted market prices in an active market for identical instruments, which must be classified in one of the following categories:
	Level 1 Inputs
	Level 1 inputs come from quoted prices (unadjusted) in active markets for identical assets or liabilities.
	Level 2 Inputs
	Level 2 inputs are other than quoted prices that are observable for an asset or liability. These inputs include: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means.
	Level 3 Inputs
	Level 3 inputs are unobservable inputs for the asset or liability which require the Company's own assumptions.
	Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels.
	The following table presents the changes in Level 1 assets for the period indicated (in thousands):
		Nine Months Ended September 30,
		2013			2012
	Fair value at beginning of period	$	2,413		$	1,679
	Investment during period		68			105
	Realized and unrealized gains (losses)		(1,258	)		(477	)
	included in other comprehensive income
	Fair value at end of period	$	1,223		$	1,307
	The Company has paid a total of $1.7 million for an investment with quoted market prices in an active market. At December 31, 2012, the market value of this investment was $2.4 million. At September 30, 2013, the market value of the investment was $1.2 million. The $1.3 million decrease in the market value during the nine months ended September 30, 2013 was included in other comprehensive income, net of taxes.

INVENTORY

INVENTORY	9 Months Ended
	Sep. 30, 2013
INVENTORY [Abstract]	'
INVENTORY	'
	NOTE 5 - INVENTORY
	The carrying values of inventories are as follows (in thousands):
		September 30,			December 31,
		2013			2012
	Finished goods	$	104,965		$	97,679
	Work in process		9,243			7,470
	Inventory reserve		(4,001	)		(3,727	)
	Inventories, net	$	110,207		$	101,422

PROPERTY_AND_EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Sep. 30, 2013
PROPERTY AND EQUIPMENT [Abstract]	'
PROPERTY AND EQUIPMENT	'
	NOTE 6 - PROPERTY AND EQUIPMENT
	The carrying values of property and equipment are as follows (in thousands):
		September 30,			December 31,
		2013			2012
	Land	$	2,094		$	1,861
	Buildings and leasehold improvements		8,490			7,378
	Furniture, fixtures and equipment		80,421			72,219
	Less – Accumulated depreciation		(30,254	)		(22,745	)
	Total Property and Equipment, net	$	60,751		$	58,713

GOODWILL_AND_OTHER_INTANGIBLE_

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2013
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]	'
GOODWILL AND OTHER INTANGIBLE ASSETS	'
	NOTE 7 - GOODWILL AND OTHER INTANGIBLE ASSETS
	The following table presents the changes in the carrying amount of goodwill and other intangible assets during the nine months ended September 30, 2013 (in thousands):
					Other			Total
		Goodwill			Intangible Assets
	Balance as of December 31, 2012	$	145,788		$	63,189		$	208,977
	Acquired during the period		39,831			22,560			62,391
	Adjustments to prior period estimates		2,007			(2,502	)		(495	)
	Translation adjustment		(779	)		(614	)		(1,393	)
	Amortization		-			(9,221	)		(9,221	)
	Balance as of September 30, 2013	$	186,847		$	73,412		$	260,259
	During the nine months ended September 30, 2013, the Company reduced estimated customer lists from our HSE acquisition by $2.8 million based on a valuation specialists' report. This resulted in an increase in goodwill, net of recognized deferred tax liabilities associated with the adjustment. In addition, there was an increase to estimated intangibles for our Jerzy acquisition of approximately $0.3 million. See Note 11, Business Acquisitions.
	The following table presents goodwill balance by reportable segment as of September 30, 2013 and December 31, 2012 (in thousands):
		2013			2012
	Service Centers	$	141,450		$	112,669
	Innovative Pumping Solutions		28,258			15,980
	Supply Chain Services		17,139			17,139
	Total	$	186,847		$	145,788
	The following table presents a summary of amortizable other intangible assets (in thousands):
		As of September 30, 2013									As of December 31, 2012
		Gross						Carrying Amount, net			Gross					Carrying Amount, net
		Carrying			Accumulated						Carrying		Accumulated
		Amount			Amortization						Amount		Amortization
	Vendor agreements	$	2,496		$	(1,174	)	$	1,322		$	2,496	$	(1,081	)	$	1,415
	Customer relationships		114,015			(43,035	)		70,980			90,851		(30,010	)		60,841
	Non-compete agreements		3,372			(2,262	)		1,110			1,541		(608	)		933
	Total	$	119,883		$	(46,471	)	$	73,412		$	94,888	$	(31,699	)	$	63,189
	Other intangible assets are generally amortized on a straight-line basis over their estimated useful lives.

LONGTERM_DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2013
LONG-TERM DEBT [Abstract]	'
LONG-TERM DEBT	'
	NOTE 8 – LONG-TERM DEBT
	Long-term debt consisted of the following at September 30, 2013 and December 31, 2012 (in thousands):
		2013			2012
	Line of credit	$	118,901		$	104,526
	Term loan		114,531			130,000
	Unsecured subordinated notes payable in quarterly installments at 5%		2,719			3,870
	through November 2015
			236,151			238,396
	Less: Current portion		(23,776	)		(22,057	)
	Total Long-term Debt	$	212,375		$	216,339
	On July 11, 2012 DXP entered into a new credit facility with Wells Fargo Bank National Association, as Issuing Lender, Swingline Lender and Administrative Agent for the lenders. On December 31, 2012 the Company amended the agreement which increased the Credit Facility by $75 million (the "Facility"). The Facility consists of a revolving credit facility that provides a $262.5 million line of credit to the Company and a term loan. The term loan component of the facility was $114.5 million at September 30, 2013.
	The line of credit portion of the Facility provides the option of interest at LIBOR plus an applicable margin ranging from 1.25% to 2.25% or prime plus an applicable margin from 0.25% to 1.25% where the applicable margin is determined by the Company's leverage ratio as defined by the Facility at the date of borrowing. Rates for the term loan component ($114.5 million at September 30, 2013) are 25 basis points higher than the line of credit borrowings. Commitment fees of 0.20% to 0.40% per annum are payable on the portion of the Facility capacity not in use at any given time on the line of credit. Commitment fees are included as interest in the consolidated statements of income.
	Primarily because the leverage ratio was higher after the acquisition of HSE that occurred on July 11, 2012, interest rates in effect on July 11, 2012 were approximately 70 basis points higher than they were immediately prior to the acquisition.
	On September 30, 2013, the LIBOR based rate on the line of credit portion of the Facility was LIBOR plus 1.50%, the prime based rate of the Facility was prime plus 0.50%, the LIBOR based rate on the term loan portion of the Facility was LIBOR plus 1.75% and the commitment fee was 0.25%. At September 30, 2013, $233.4 million was borrowed under the Facility at a weighted average interest rate of approximately 1.8% under the LIBOR options. At September 30, 2013, the Company had approximately $118.5 million available for borrowing under the Facility.
	The Facility expires on July 11, 2017. The Facility contains financial covenants defining various financial measures and levels of these measures with which the Company must comply. Covenant compliance is assessed as of each quarter end. Substantially all of the Company's assets are pledged as collateral to secure the credit facility.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2013
STOCK-BASED COMPENSATION [Abstract]	'
STOCK-BASED COMPENSATION	'
	NOTE 9 - STOCK-BASED COMPENSATION
	Restricted Stock
	Under the restricted stock plan approved by our shareholders (the "Restricted Stock Plan"), directors, consultants and employees may be awarded shares of DXP's common stock. The shares of restricted stock granted to employees and that are outstanding as of September 30, 2013 vest in accordance with one of the following vesting schedules: 100% one year after date of grant; 33.3% each year for three years after date of grant; 20% each year for five years after the grant date; or 10% each year for ten years after the grant date. The Restricted Stock Plan provides that on each July 1 during the term of the plan each non-employee director of DXP will be granted the number of whole shares calculated by dividing $75 thousand by the closing price of the common stock on such July 1. The shares of restricted stock granted to non-employee directors of DXP vest one year after the grant date. The fair value of restricted stock awards is measured based upon the closing prices of DXP's common stock on the grant dates and is recognized as compensation expense over the vesting period of the awards. Once restricted stock vests, new shares of the Company's stock are issued.
	The following table provides certain information regarding the shares authorized and outstanding under the Restricted Stock Plan at September 30, 2013:
	Number of shares authorized for grants	800,000
	Number of shares granted	-785,159
	Number of shares forfeited	108,909
	Number of shares available for future grants	123,750
	Weighted-average grant price of granted shares	$23.49
	Changes in restricted stock for the nine months ended September 30, 2013 were as follows:
		Number of	Weighted Average
		Shares	Grant Price
	Non-vested at December 31, 2012	210,654	$26.85
	Granted	96,788	$51.08
	Forfeited	-28,911	$37.15
	Vested	-44,670	$28.46
	Non-vested at September 30, 2013	233,861	$35.26
	Compensation expense, associated with restricted stock, recognized in the nine months ended September 30, 2013 and 2012 was $2.1 million and $1.5 million, respectively. Related income tax benefits recognized in earnings for the nine months ended September 30, 2013 and 2012 were approximately $0.8 million and $0.6 million, respectively. Unrecognized compensation expense under the Restricted Stock Plan at September 30, 2013 and December 31, 2012 was $6.4 million and $5.5 million, respectively. As of September 30, 2013, the weighted average period over which the unrecognized compensation expense is expected to be recognized is 28.1 months.

EARNINGS_PER_SHARE_DATA

EARNINGS PER SHARE DATA	9 Months Ended
	Sep. 30, 2013
EARNINGS PER SHARE DATA [Abstract]	'
EARNINGS PER SHARE DATA	'
	NOTE 10 - EARNINGS PER SHARE DATA
	Basic earnings per share is computed based on weighted average shares outstanding and excludes dilutive securities. Diluted earnings per share is computed including the impacts of all potentially dilutive securities.
	The following table sets forth the computation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data):
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
	Basic:
	Weighted average shares outstanding		14,444		14,411		14,430		14,375
	Net income	$	16,352	$	13,092	$	43,333	$	36,915
	Convertible preferred stock dividend		23		23		68		68
	Net income attributable to common shareholders	$	16,329	$	13,069	$	43,265	$	36,847
	Per share amount	$	1.13	$	0.91	$	3	$	2.56
	Diluted:
	Weighted average shares outstanding		14,444		14,411		14,430		14,375
	Assumed conversion of convertible		840		840		840		840
	preferred stock
	Total dilutive shares		15,284		15,251		15,270		15,215
	Net income attributable to	$	16,329	$	13,069	$	43,265	$	36,847
	common shareholders
	Convertible preferred stock dividend		23		23		68		68
	Net income for diluted	$	16,352	$	13,092	$	43,333	$	36,915
	earnings per share
	Per share amount	$	1.07	$	0.86	$	2.84	$	2.43

BUSINESS_ACQUISITIONS

BUSINESS ACQUISITIONS	9 Months Ended
	Sep. 30, 2013
BUSINESS ACQUISITIONS [Abstract]	'
BUSINESS ACQUISITIONS	'
	NOTE 11 - BUSINESS ACQUISITIONS
	All of the Company's acquisitions have been accounted for using the purchase method of accounting. Revenues and expenses of the acquired businesses have been included in the accompanying consolidated financial statements beginning on their respective dates of acquisition. The allocation of purchase price to the acquired assets and liabilities is based on estimates of fair market value and may be prospectively revised if and when additional information the Company is awaiting concerning certain asset and liability valuations is obtained, provided that such information is received no later than one year after the date of acquisition.
	On January 31, 2012, DXP acquired substantially all of the assets of Mid-Continent Safety ("Mid-Continent"). DXP acquired this business to expand DXP's geographic presence in the Midwestern U.S. and strengthen DXP's safety products offering. DXP paid approximately $3.7 million for Mid-Continent, which was borrowed under our existing credit facility. Goodwill of $1.2 million was recognized for this acquisition and is calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. It specifically includes the expected synergies and other benefits that we believe will result from combining the operations of Mid-Continent with the operations of DXP and any intangible assets that do not qualify for separate recognition such as the assembled workforce. All of the goodwill is included in the Service Centers segment.
	On February 29, 2012, DXP acquired substantially all of the assets of Pump & Power Equipment, Inc. ("Pump & Power"). DXP acquired this business to expand DXP's geographic presence in the mid-western U.S. and strengthen DXP's municipal pump products and services offering. DXP paid approximately $1.9 million for Pump & Power which was borrowed under our existing credit facility. Goodwill of $0.7 million was recognized for this acquisition and is calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. It specifically includes the expected synergies and other benefits that we believe will result from combining the operations of Pump & Power with the operations of DXP and any intangible assets that do not qualify for separate recognition such as the assembled workforce. All of the goodwill is included in the Service Centers segment.
	On April 2, 2012, DXP acquired the stock of Aledco, Inc. ("Aledco"). DXP acquired Aledco to expand its ability to service customers in the oil and gas, water and waste water treatment, pharmaceutical and industrial markets in and around Pennsylvania. DXP paid approximately $8.1 million for Aledco which was borrowed under our existing credit facility. Goodwill of $3.4 million was recognized for this acquisition and is calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. It specifically includes the expected synergies and other benefits that we believe will result from combining the operations of Aledco with the operations of DXP and any intangible assets that do not qualify for separate recognition such as the assembled workforce. None of the estimated goodwill is expected to be tax deductible. All of the goodwill is included in the Service Centers segment.
	On May 1, 2012, DXP completed the acquisition of Industrial Paramedic Services through its wholly owned subsidiary, DXP Canada Enterprises Ltd. Industrial Paramedic Services is a provider of industrial medical and safety services to industrial customers operating in remote locations and large facilities in western Canada. DXP acquired this business to expand DXP's geographic presence into Canada and to expand our safety services offering. Industrial Paramedic Services is headquartered in Calgary, Alberta and operates out of three locations in Calgary, Nisku and Dawson Creek. The $25.3 million purchase price was financed with $20.6 million of borrowings under DXP's existing credit facility, $2.5 million of promissory notes bearing a 5% interest rate and 19,685 shares of DXP common stock. Estimated goodwill of $12.1 million was recognized for this acquisition and is calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. It specifically includes the expected synergies and other benefits that we believe will result from combining the operations of Industrial Paramedic Services with the operations of DXP and any intangible assets that do not qualify for separate recognition such as the assembled workforce. None of the estimated goodwill is expected to be tax deductible. All of the goodwill is included in the Service Centers segment.
	On May 31, 2012, DXP acquired the stock of Austin and Denholm Industrial Sales Alberta, Inc. ("ADI"). DXP acquired this business to expand DXP's geographic presence in Western Canada and strengthen DXP's pump products and services offering. DXP paid approximately $2.7 million for ADI which was borrowed under our existing credit facility. Goodwill of $0.3 million was recognized for this acquisition and is calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. It specifically includes the expected synergies and other benefits that we believe will result from combining the operations of ADI with the operations of DXP and any intangible assets that do not qualify for separate recognition such as the assembled workforce. None of the estimated goodwill is expected to be tax deductible. All of the estimated goodwill is included in the Service Centers segment.
	On July 11, 2012, DXP completed the acquisition of HSE Integrated Ltd. ("HSE"). DXP Canada Enterprises Ltd., acquired all of the outstanding common shares of HSE by way of a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement"). Pursuant to the Arrangement, HSE shareholders received CDN $1.80 in cash per each common share of HSE held. The total transaction value is approximately $85 million, including approximately $4 million in debt and approximately $3 million in transaction costs. The purchase price was financed with borrowings under DXP's credit facility. DXP acquired HSE to expand our industrial health and safety services offering. Estimated goodwill of $27.6 million was recognized for this acquisition. The estimate of goodwill for this acquisition is calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. It specifically includes the expected synergies and other benefits that we believe will result from combining the operations of these companies with the operations of DXP and any intangible assets that do not qualify for separate recognition such as the assembled workforce. None of the estimated goodwill is expected to be tax deductible. All of the goodwill is included in the Service Centers Segment.
	On October 1, 2012, DXP acquired substantially all of the assets of Jerzy Supply, Inc. ("Jerzy"). DXP acquired this business to expand DXP's geographic presence in the Southern U.S. and strengthen DXP's industrial and hydraulic hoses offering. DXP paid approximately $5.3 million for Jerzy which was borrowed under our existing credit facility. No goodwill was recognized on the purchase.
	On April 16, 2013, DXP acquired all of the stock of National Process Equipment Inc. ("NatPro") through its wholly owned subsidiary, DXP Canada Enterprises Ltd. DXP acquired this business to expand DXP's geographic presence in Canada and strengthen DXP's pump, integrated system packaging, compressor, and related equipment offering. The $40.1 million purchase price was financed with $36.6 million of borrowings under DXP's existing credit facility and 52,542 shares of DXP common stock. Additionally, the purchase agreement included an earnout provision, which states that former owners of NatPro may earn $6.0 million based on achievement of an earnings target during the first year of DXP's ownership. The fair value of the earnout recorded at the acquisition date was $2.9 million. As of September 30, 2013, the Company's earnout liability was $2.9 million. Estimated goodwill of $25.8 million was recognized for this acquisition and is calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. It specifically includes the expected synergies and other benefits that we believe will result from combining the operations of NatPro with the operations of DXP and any intangible assets that do not qualify for separate recognition such as the assembled workforce. None of the estimated goodwill is expected to be tax deductible. The goodwill associated with this acquisition is included in both the Service Centers segment and IPS segment.
	On May 17, 2013, DXP acquired substantially all of the assets of Tucker Tool Company, Inc. ("Tucker Tool"). DXP acquired this business to expand DXP's geographic presence in the northern U.S. and strengthen DXP's industrial cutting tools offering. DXP paid approximately $5.0 million for Tucker Tool which was borrowed under our existing credit facility. Estimated goodwill of $3.6 was recognized on the purchase and is tax deductible. All of the goodwill is included in the Service Centers segment.
	On July 1, 2103, DXP acquired all of the stock of Alaska Pump & Supply, Inc. (APS). DXP acquired this business to expand DXP's geographic presence in Alaska. DXP paid approximately $13.0 million for APS which was borrowed under our existing credit facility. None of the estimated goodwill is expected to be tax deductible.  All of the goodwill is included in the Service Centers segment.
	On July 31, 2103, DXP acquired substantially all of the assets of Tool-Tech Industrial Machine & Supply, Inc. ("Tool-Tech"). DXP acquired this business to enhance our metal working product offering in the southwest region of the United States. DXP paid approximately $7.2 million for Tool-Tech which was borrowed under our existing credit facility. All of the goodwill is included in the Service Centers segment.
	The value assigned to the non-compete agreements and customer relationships for business acquisitions were determined by discounting the estimated cash flows associated with non-compete agreements and customer relationships as of the date the acquisition was consummated. The estimated cash flows were based on estimated revenues net of operating expenses and net of capital charges for assets that contribute to the projected cash flow from these assets. The projected revenues and operating expenses were estimated based on management estimates. Net capital charges for assets that contribute to projected cash flow were based on the estimated fair value of those assets. Discount rates of 15.9% to 18.0% were deemed appropriate for valuing these assets and were based on the risks associated with the respective cash flows taking into consideration the acquired company's weighted average cost of capital.
	For the three and nine months ended September 30, 2013, businesses acquired during 2012 and 2013 contributed sales of $62.7 million and $161.4 million, respectively, and earnings before taxes of approximately $0.7 million and $3.2 million, respectively.
	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed during 2012 and 2013 in connection with the acquisitions described above (in thousands):
	Cash	$	12,804
	Accounts Receivable, net		53,314
	Inventory		12,727
	Property and equipment		38,421
	Goodwill and intangibles		139,391
	Other assets		3,793
	Assets acquired		260,450
	Current liabilities assumed		(49,482	)
	Non-current liabilities assumed		(22,406	)
	Net assets acquired	$	188,562
	The pro forma unaudited results of operations for the Company on a consolidated basis for the three and nine months ended September 30, 2013 and 2012, assuming the acquisition of businesses completed in 2013 and 2012 were consummated as of January 1, 2012 are as follows (in thousands, except per share data):
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
		2013			2012		2013		2012
	Net sales	$	330,876		$	318,895	$	970,714	$	958,560
	Net income	$	16,414		$	13,363	$	45,048	$	40,149
	Per share data
	Basic earnings	$	1.14		$	0.92	$	3.11	$	2.78
	Diluted earnings	$	1.07		$	0.87	$	2.95	$	2.63

SEGMENT_REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2013
SEGMENT REPORTING [Abstract]	'
SEGMENT REPORTING	'
	NOTE 12 - SEGMENT REPORTING
	The Company's reportable business segments are: Service Centers, Innovative Pumping Solutions and Supply Chain Services. The Service Centers segment is engaged in providing maintenance, MRO products, equipment and integrated services, including safety services, technical expertise and logistics capabilities, to industrial customers. The Service Centers segment provides a wide range of MRO products in the rotating equipment, bearing, power transmission, hose, fluid power, metal working, fastener, industrial supply, safety products and safety services categories. The Innovative Pumping Solutions segment fabricates and assembles custom-made integrated pump system packages. The Supply Chain Services segment manages all or part of a customer's supply chain, including warehouse and inventory management.
	The high degree of integration of the Company's operations necessitates the use of a substantial number of allocations and apportionments in the determination of business segment information. Sales are shown net of intersegment eliminations.
	The following table sets out financial information relating the Company's segments (in thousands):
		Three Months ended September 30,												Nine Months ended September 30,
		Service			IPS			SCS						Service		IPS		SCS
		Centers									Total			Centers						Total
	2013
	Sales	$	232,529		$	61,094		$	36,096		$	329,719		$	660,552	$	155,572	$	111,634	$	927,758
	Operating income for reportable segments	$	27,557		$	9,059		$	3,202		$	39,818		$	75,976	$	24,267	$	9,550	$	109,793
	2012
	Sales	$	212,497		$	38,854		$	38,572		$	289,923		$	571,675	$	113,466	$	118,963	$	804,104
	Operating income for reportable segments	$	26,410		$	7,227		$	2,781		$	36,418		$	67,455	$	22,414	$	9,500	$	99,369
	The following table presents reconciliations of operating income for reportable segments to the consolidated income before taxes (in thousands):
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2013			2012
								2013			2012
	Operating income for reportable segments	$	39,818		$	36,418		$	109,793		$	99,369
	Adjustment for:
	Amortization of intangibles		3,434			3,474			9,221			8,264
	Corporate and other expense, net		9,486			8,430			27,705			25,839
	Total operating income		26,898			24,514			72,867			65,266
	Interest expense, net		1,614			2,287			4,930			3,878
	Other income, net		(38	)		(21	)		(16	)		(33	)
	Income before income taxes	$	25,322		$	22,248		$	67,953		$	61,421

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2013
COMMITMENTS AND CONTINGENCIES [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	NOTE 13 – COMMITMENTS AND CONTINGENCIES
	From time to time, the Company is a party to various legal proceedings arising in the ordinary course of business. While DXP is unable to predict the outcome of these lawsuits, it believes that the ultimate resolution will not have, either individually or in the aggregate, a material adverse effect on DXP's consolidated financial position, cash flows, or results of operations.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2013
SUBSEQUENT EVENTS [Abstract]	'
SUBSEQUENT EVENTS	'
	NOTE 14 - SUBSEQUENT EVENTS
	We have evaluated subsequent events through the date the interim condensed consolidated financial statements were issued. There were no events that required recognition for disclosure.

FAIR_VALUE_OF_FINANCIAL_ASSETS1

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2013
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES [Abstract]	'
Changes in Level 1 Assets	'
	The following table presents the changes in Level 1 assets for the period indicated (in thousands):
		Nine Months Ended September 30,
		2013			2012
	Fair value at beginning of period	$	2,413		$	1,679
	Investment during period		68			105
	Realized and unrealized gains (losses)		(1,258	)		(477	)
	included in other comprehensive income
	Fair value at end of period	$	1,223		$	1,307

INVENTORY_Tables

INVENTORY (Tables)	9 Months Ended
	Sep. 30, 2013
INVENTORY [Abstract]	'
Carrying Values of Inventories	'
	The carrying values of inventories are as follows (in thousands):
		September 30,			December 31,
		2013			2012
	Finished goods	$	104,965		$	97,679
	Work in process		9,243			7,470
	Inventory reserve		(4,001	)		(3,727	)
	Inventories, net	$	110,207		$	101,422

PROPERTY_AND_EQUIPMENT_Tables

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2013
PROPERTY AND EQUIPMENT [Abstract]	'
Property and equipment	'
	The carrying values of property and equipment are as follows (in thousands):
		September 30,			December 31,
		2013			2012
	Land	$	2,094		$	1,861
	Buildings and leasehold improvements		8,490			7,378
	Furniture, fixtures and equipment		80,421			72,219
	Less – Accumulated depreciation		(30,254	)		(22,745	)
	Total Property and Equipment, net	$	60,751		$	58,713

GOODWILL_AND_OTHER_INTANGIBLE_1

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2013
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]	'
Goodwill and Other Intangible Assets	'
	The following table presents the changes in the carrying amount of goodwill and other intangible assets during the nine months ended September 30, 2013 (in thousands):
					Other			Total
		Goodwill			Intangible Assets
	Balance as of December 31, 2012	$	145,788		$	63,189		$	208,977
	Acquired during the period		39,831			22,650			62,391
	Adjustments to prior period estimates		2,007			(2,502	)		(495	)
	Translation adjustment		(779	)		(614	)		(1,393	)
	Amortization		-			(9,221	)		(9,221	)
	Balance as of September 30, 2013	$	186,847		$	73,412		$	260,259
Goodwill balance by reportable segment	'
	The following table presents goodwill balance by reportable segment as of September 30, 2013 and December 31, 2012 (in thousands):
		2013			2012
	Service Centers	$	141,450		$	112,669
	Innovative Pumping Solutions		28,258			15,980
	Supply Chain Services		17,139			17,139
	Total	$	186,847		$	145,788
Amortizable Other Intangible Assets	'
	The following table presents a summary of amortizable other intangible assets (in thousands):
		As of September 30, 2013									As of December 31, 2012
		Gross						Carrying Amount, net			Gross					Carrying Amount, net
		Carrying			Accumulated						Carrying		Accumulated
		Amount			Amortization						Amount		Amortization
	Vendor agreements	$	2,496		$	(1,174	)	$	1,322		$	2,496	$	(1,081	)	$	1,415
	Customer relationships		114,015			(43,035	)		70,980			90,851		(30,010	)		60,841
	Non-compete agreements		3,372			(2,262	)		1,110			1,541		(608	)		933
	Total	$	119,883		$	(46,471	)	$	73,412		$	94,888	$	(31,699	)	$	63,189

LONGTERM_DEBT_Tables

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2013
LONG-TERM DEBT [Abstract]	'
Long term debt	'
	Long-term debt consisted of the following at September 30, 2013 and December 31, 2012 (in thousands):
		2013			2012
	Line of credit	$	118,901		$	104,526
	Term loan		114,531			130,000
	Unsecured subordinated notes payable in quarterly installments at 5%		2,719			3,870
	through November 2015
			236,151			238,396
	Less: Current portion		(23,776	)		(22,057	)
	Total Long-term Debt	$	212,375		$	216,339

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2013
STOCK-BASED COMPENSATION [Abstract]	'
Shares Authorized and Outstanding Under the Restricted Stock Plan	'
	The following table provides certain information regarding the shares authorized and outstanding under the Restricted Stock Plan at September 30, 2013:
	Number of shares authorized for grants		800,000
	Number of shares granted		(785,159	)
	Number of shares forfeited		108,909
	Number of shares available for future grants		123,750
	Weighted-average grant price of granted shares	$	23.49
	Changes in restricted stock for the nine months ended September 30, 2013 were as follows:
		Number of			Weighted Average
		Shares			Grant Price
	Non-vested at December 31, 2012		210,654		$	26.85
	Granted		96,788		$	51.08
	Forfeited		(28,911	)	$	37.15
	Vested		(44,670	)	$	28.46
	Non-vested at September 30, 2013		233,861		$	35.26

EARNINGS_PER_SHARE_DATA_Tables

EARNINGS PER SHARE DATA (Tables)	9 Months Ended
	Sep. 30, 2013
EARNINGS PER SHARE DATA [Abstract]	'
Computation of Basic and Diluted Earnings per Share	'
	The following table sets forth the computation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data):
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
	Basic:
	Weighted average shares outstanding		14,444		14,411		14,430		14,375
	Net income	$	16,352	$	13,092	$	43,333	$	36,915
	Convertible preferred stock dividend		23		23		68		68
	Net income attributable to common shareholders	$	16,329	$	13,069	$	43,265	$	36,847
	Per share amount	$	1.13	$	0.91	$	3	$	2.56
	Diluted:
	Weighted average shares outstanding		14,444		14,411		14,430		14,375
	Assumed conversion of convertible		840		840		840		840
	preferred stock
	Total dilutive shares		15,284		15,251		15,270		15,215
	Net income attributable to	$	16,329	$	13,069	$	43,265	$	36,847
	common shareholders
	Convertible preferred stock dividend		23		23		68		68
	Net income for diluted	$	16,352	$	13,092	$	43,333	$	36,915
	earnings per share
	Per share amount	$	1.07	$	0.86	$	2.84	$	2.43

BUSINESS_ACQUISITIONS_Tables

BUSINESS ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2013
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 2012 and 2013 in connection with the acquisitions described above (in thousands):
	Cash	$	12,804
	Accounts Receivable, net		53,314
	Inventory		12,727
	Property and equipment		38,421
	Goodwill and intangibles		139,391
	Other assets		3,793
	Assets acquired		260,450
	Current liabilities assumed		(49,482	)
	Non-current liabilities assumed		(22,406	)
	Net assets acquired	$	188,562
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, 2013 and 2012, assuming the acquisition of businesses completed in 2013 and 2012 were consummated as of January 1, 2012 are as follows (in thousands, except per share data):
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
		2013			2012		2013		2012
	Net sales	$	330,876		$	318,895	$	970,714	$	958,560
	Net income	$	16,414		$	13,363	$	45,048	$	40,149
	Per share data
	Basic earnings	$	1.14		$	0.92	$	3.11	$	2.78
	Diluted earnings	$	1.07		$	0.87	$	2.95	$	2.63

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2013
SEGMENT REPORTING [Abstract]	'
Segment Reporting Financial Information	'
	The following table sets out financial information relating the Company's segments (in thousands):
		Three Months ended September 30,												Nine Months ended September 30,
		Service			IPS			SCS						Service		IPS		SCS
		Centers									Total			Centers						Total
	2013
	Sales	$	232,529		$	61,094		$	36,096		$	329,719		$	660,552	$	155,572	$	111,634	$	927,758
	Operating income for reportable segments	$	27,557		$	9,059		$	3,202		$	39,818		$	75,976	$	24,267	$	9,550	$	109,793
	2012
	Sales	$	212,497		$	38,854		$	38,572		$	289,923		$	571,675	$	113,466	$	118,963	$	804,104
	Operating income for reportable segments	$	26,410		$	7,227		$	2,781		$	36,418		$	67,455	$	22,414	$	9,500	$	99,369
Reconciliation of Operating Income for Reportable Segments to Consolidated Income before Taxes	'
	The following table presents reconciliations of operating income for reportable segments to the consolidated income before taxes (in thousands):
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2013			2012
								2013			2012
	Operating income for reportable segments	$	39,818		$	36,418		$	109,793		$	99,369
	Adjustment for:
	Amortization of intangibles		3,434			3,474			9,221			8,264
	Corporate and other expense, net		9,486			8,430			27,705			25,839
	Total operating income		26,898			24,514			72,867			65,266
	Interest expense, net		1,614			2,287			4,930			3,878
	Other income, net		(38	)		(21	)		(16	)		(33	)
	Income before income taxes	$	25,322		$	22,248		$	67,953		$	61,421

THE_COMPANY_Details

THE COMPANY (Details)	9 Months Ended
	Sep. 30, 2013
	Segment
THE COMPANY [Abstract]	'
Number of segments	3

FAIR_VALUE_OF_FINANCIAL_ASSETS2

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Details) (Level 1 [Member], USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Level 1 [Member]	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'
Fair value at beginning of period	$2,413	$1,679
Investment during period	68	105
Realized and unrealized gains (losses) included in other comprehensive income	-1,258	-477
Fair value at end of period	$1,223	$1,307

INVENTORY_Details

INVENTORY (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
INVENTORY [Abstract]	'	'
Finished goods	$104,965	$97,679
Work in process	9,243	7,470
Inventory reserve	-4,001	-3,727
Inventories, net	$110,207	$101,422

PROPERTY_AND_EQUIPMENT_Details

PROPERTY AND EQUIPMENT (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Less - Accumulated depreciation	($30,254)	($22,745)
Total Property and Equipment, net	60,751	58,713
Land [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	2,094	1,861
Buildings and Leasehold Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	8,490	7,378
Furniture, Fixtures and Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	$80,421	$72,219

GOODWILL_AND_OTHER_INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Goodwill [Roll Forward]	'	'	'	'	'
Beginning balance	'	'	$145,788	'	'
Acquired during the period	'	'	39,831	'	'
Adjustments to prior period estimates	'	'	2,007	'	'
Translation adjustment	'	'	-779	'	'
Ending balance	186,847	'	186,847	'	'
Other Intangibles Assets [Roll Forward]	'	'	'	'	'
Balance at beginning of period	'	'	63,189	'	'
Acquired during the year	'	'	22,560	'	'
Adjustments to prior year estimates	'	'	-2,502	'	'
Translation adjustment	'	'	-614	'	'
Amortization	-3,434	-3,474	-9,221	-8,264	'
Balance at end of period	73,412	'	73,412	'	'
Total Goodwill and Intangible Assets [Roll Forward]	'	'	'	'	'
Beginning Balance	'	'	208,977	'	'
Acquired during the year	'	'	62,391	'	'
Adjustment to prior year estimates	'	'	-495	'	'
Translation adjustment	'	'	-1,393	'	'
Amortization	-3,434	-3,474	-9,221	-8,264	'
Ending Balance	260,259	'	260,259	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Gross carrying amount	119,883	'	119,883	'	94,888
Accumulated amortization	-46,471	'	-46,471	'	-31,699
Carrying amount, net	73,412	'	73,412	'	63,189
Service Centers [Member]	'	'	'	'	'
Goodwill [Roll Forward]	'	'	'	'	'
Beginning balance	'	'	'	'	112,669
Ending balance	141,450	'	141,450	'	112,669
Innovative Pumping Solutions [Member]	'	'	'	'	'
Goodwill [Roll Forward]	'	'	'	'	'
Beginning balance	'	'	'	'	15,980
Ending balance	28,258	'	28,258	'	15,980
Supply Chain Services [Member]	'	'	'	'	'
Goodwill [Roll Forward]	'	'	'	'	'
Beginning balance	'	'	'	'	17,139
Ending balance	17,139	'	17,139	'	17,139
Vendor Agreements [Member]	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Gross carrying amount	2,496	'	2,496	'	2,496
Accumulated amortization	-1,174	'	-1,174	'	-1,081
Carrying amount, net	1,322	'	1,322	'	1,415
Customer Relationships [Member]	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Gross carrying amount	114,015	'	114,015	'	90,851
Accumulated amortization	-43,035	'	-43,035	'	-30,010
Carrying amount, net	70,980	'	70,980	'	60,841
Non-Compete Agreements [Member]	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Gross carrying amount	3,372	'	3,372	'	1,541
Accumulated amortization	-2,262	'	-2,262	'	-608
Carrying amount, net	1,110	'	1,110	'	933
Customer Lists [Member] | Intangible Assets Related to Jerzy Acquisition [Member]	'	'	'	'	'
Goodwill [Roll Forward]	'	'	'	'	'
Adjustments to prior period estimates	'	'	300	'	'
Customer Lists [Member] | Intangible Assets Related to HSE Acquisition [Member]	'	'	'	'	'
Total Goodwill and Intangible Assets [Roll Forward]	'	'	'	'	'
Adjustment to prior year estimates	'	'	$2,800	'	'

GOODWILL_AND_OTHER_INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, Goodwill balance by reportable segment (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Goodwill [Line Items]	'	'
Goodwill	$186,847	$145,788
Service Centers [Member]	'	'
Goodwill [Line Items]	'	'
Goodwill	141,450	112,669
Innovative Pumping Solutions [Member]	'	'
Goodwill [Line Items]	'	'
Goodwill	28,258	15,980
Supply Chain Services [Member]	'	'
Goodwill [Line Items]	'	'
Goodwill	$17,139	$17,139

LONGTERM_DEBT_Details

LONG-TERM DEBT (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Borrowings [Abstract]	'	'
Long-term debt	$236,151,000	$238,396,000
Less: Current portion	-23,776,000	-22,057,000
Total long-term debt	212,375,000	216,339,000
Unsecured Subordinated Notes Payable [Member]	'	'
Borrowings [Abstract]	'	'
Long-term debt	2,719,000	3,870,000
Quarterly installments (in hundredths)	5.00%	'
Wells Fargo Bank, National Association [Member] | Line of Credit [Member]	'	'
Borrowings [Abstract]	'	'
Long-term debt	118,901,000	104,526,000
Maximum borrowing capacity	262,500,000	'
Wells Fargo Bank, National Association [Member] | Line of Credit [Member] | LIBOR [Member]	'	'
Borrowings [Abstract]	'	'
Basis spread on base rate (in hundredths)	1.50%	'
Wells Fargo Bank, National Association [Member] | Line of Credit [Member] | Prime rate [Member]	'	'
Borrowings [Abstract]	'	'
Basis spread on base rate (in hundredths)	0.50%	'
Wells Fargo Bank, National Association [Member] | Term Loan [Member]	'	'
Borrowings [Abstract]	'	'
Long-term debt	114,531,000	130,000,000
Commitment fee (in hundredths)	0.25%	'
Incremental higher interest rate after acquisition (in hundredths)	0.25%	'
Wells Fargo Bank, National Association [Member] | Revolving Credit Facility [Member]	'	'
Borrowings [Abstract]	'	'
Increase in borrowing capacity	'	75,000,000
Incremental higher interest rate after acquisition (in hundredths)	0.70%	'
Available for borrowing under the facility	118,500,000	'
Expiration date	11-Jul-17	'
Wells Fargo Bank, National Association [Member] | Revolving Credit Facility [Member] | Minimum [Member]	'	'
Borrowings [Abstract]	'	'
Commitment fee (in hundredths)	0.20%	'
Wells Fargo Bank, National Association [Member] | Revolving Credit Facility [Member] | Maximum [Member]	'	'
Borrowings [Abstract]	'	'
Commitment fee (in hundredths)	0.40%	'
Wells Fargo Bank, National Association [Member] | Revolving Credit Facility [Member] | LIBOR [Member]	'	'
Borrowings [Abstract]	'	'
Base rate	'LIBOR	'
Basis spread on base rate (in hundredths)	1.75%	'
Amount outstanding	$233,400,000	'
Weighted average interest rate (in hundredths)	1.80%	'
Wells Fargo Bank, National Association [Member] | Revolving Credit Facility [Member] | LIBOR [Member] | Minimum [Member]	'	'
Borrowings [Abstract]	'	'
Basis spread on base rate (in hundredths)	1.25%	'
Wells Fargo Bank, National Association [Member] | Revolving Credit Facility [Member] | LIBOR [Member] | Maximum [Member]	'	'
Borrowings [Abstract]	'	'
Basis spread on base rate (in hundredths)	2.25%	'
Wells Fargo Bank, National Association [Member] | Revolving Credit Facility [Member] | Prime rate [Member] | Minimum [Member]	'	'
Borrowings [Abstract]	'	'
Basis spread on base rate (in hundredths)	0.25%	'
Wells Fargo Bank, National Association [Member] | Revolving Credit Facility [Member] | Prime rate [Member] | Maximum [Member]	'	'
Borrowings [Abstract]	'	'
Basis spread on base rate (in hundredths)	1.25%	'

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)	9 Months Ended		96 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2013	Dec. 31, 2012
Weighted Average Grant Price [Roll Forward]	'	'	'	'
Stock compensation expense	$2,150,000	$1,491,000	'	'
Restricted Stock [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Award vesting rights	'The shares of restricted stock granted to employees and that are outstanding as of September 30, 2013 vest in accordance with one of the following vesting schedules: 100% one year after date of grant; 33.3% each year for three years after date of grant; 20% each year for five years after the grant date; or 10% each year for ten years after the grant date.	'	'	'
Numerator used for calculating the number of whole shares granted	75,000	'	'	'
Award vesting period	'1 year	'	'	'
Number of shares authorized for grants (in shares)	800,000	'	'	'
Number of shares granted (in shares)	-96,788	'	-785,159	'
Number of shares forfeited (in shares)	28,911	'	108,909	'
Number of shares available for future grants (in shares)	123,750	'	'	'
Weighted-average grant price of granted shares (in dollars per share)	$51.08	'	$23.49	'
Restricted Stock [Roll Forward]	'	'	'	'
Non-vested, beginning balance (in shares)	210,654	'	'	'
Granted (in shares)	96,788	'	785,159	'
Forfeited (in shares)	-28,911	'	-108,909	'
Vested (in shares)	-44,670	'	'	'
Nonvested, ending balance (in shares)	233,861	'	'	'
Weighted Average Grant Price [Roll Forward]	'	'	'	'
Non vested, beginning balance (in dollars per share)	$26.85	'	'	'
Granted (in dollars per share)	$51.08	'	$23.49	'
Forfeitures (in dollars per share)	$37.15	'	'	'
Vested (in dollars per share)	$26.46	'	'	'
Nonvested, ending balance (in dollars per share)	$35.26	'	'	'
Stock compensation expense	2,100,000	1,500,000	'	'
Related income tax benefits recognized	800,000	600,000	'	'
Unrecognized compensation expense	$6,400,000	'	'	$5,500,000
Compensation cost not yet recognized, Period for recognition	'28 months 3 days	'	'	'

EARNINGS_PER_SHARE_DATA_Detail

EARNINGS PER SHARE DATA (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Basic [Abstract]	'	'	'	'
Weighted average shares outstanding (in shares)	14,444	14,411	14,430	14,375
Net income	$16,352	$13,092	$43,333	$36,915
Convertible preferred stock dividend	23	23	68	68
Net income attributable to common shareholders	16,329	13,069	43,265	36,847
Per share amount (in dollars per share)	$1.13	$0.91	$3	$2.56
Diluted [Abstract]	'	'	'	'
Weighted average shares outstanding (in shares)	14,444	14,411	14,430	14,375
Assumed conversion of convertible preferred stock (in shares)	840	840	840	840
Total dilutive shares (in shares)	15,284	15,251	15,270	15,215
Net income attributable to common shareholders	16,329	13,069	43,265	36,847
Convertible preferred stock dividend	23	23	68	68
Net income for diluted earnings per share	$16,352	$13,092	$43,333	$36,915
Per share amount (in dollars per share)	$1.07	$0.86	$2.84	$2.43

BUSINESS_ACQUISITIONS_Details

BUSINESS ACQUISITIONS (Details) (USD $)

3 Months Ended

9 Months Ended

0 Months Ended

0 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Jan. 31, 2012

Feb. 29, 2012

Apr. 02, 2012

1-May-12

1-May-12

Jul. 11, 2012

31-May-12

Oct. 01, 2012

Apr. 16, 2013

Sep. 30, 2013

17-May-13

Jun. 30, 2013

Jul. 31, 2013

Minimum [Member]

Maximum [Member]

Mid Continent Safety [Member]

Pump & Power Equipment, Inc. [Member]

Aledco, Inc. [Member]

Industrial Paramedic Services [Member]

Industrial Paramedic Services [Member]

HSE Integrated Ltd. [Member]

Austin and Denholm Industrial Sales Alberta, Inc. [Member]

Jerzy Supply, Inc. [Member]

National Process Equipment Inc. [Member]

National Process Equipment Inc. [Member]

Tucker Tool Company, Inc. [Member]

Alaska Pump and Supply, Inc. [Member]

Tool Tech Industrial Machine and Supply, Inc. [Member]

Location

Promissory note [Member]

Purchase price allocation [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash

$12,804,000

'

$12,804,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Accounts Receivable, net

53,314,000

'

53,314,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Inventory

12,727,000

'

12,727,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Property and equipment

38,421,000

'

38,421,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Goodwill and intangibles

139,391,000

'

139,391,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other assets

3,793,000

'

3,793,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Assets acquired

260,450,000

'

260,450,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Current liabilities assumed

-49,482,000

'

-49,482,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Non-current liabilities assumed

-22,406,000

'

-22,406,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net assets acquired

188,562,000

'

188,562,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Business Acquisition [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchase price

'

'

'

'

'

'

3,700,000

1,900,000

8,100,000

25,300,000

'

85,000,000

2,700,000

5,300,000

40,100,000

'

5,000,000

13,000,000

7,200,000

Borrowings under existing credit facility

'

'

'

'

'

'

'

'

'

20,600,000

'

'

'

'

36,600,000

'

'

'

'

Goodwill on acquisition

'

'

'

'

'

'

1,200,000

700,000

3,400,000

12,100,000

'

27,600,000

300,000

0

25,800,000

'

3,600,000

'

'

Number of shares issued on acquisition (in shares)

'

'

'

'

'

'

'

'

'

19,685

'

'

'

'

52,542

'

'

'

'

Number of operating locations

'

'

'

'

'

'

'

'

'

3

'

'

'

'

'

'

'

'

'

Borrowings under notes

'

'

'

'

'

'

'

'

'

'

2,500,000

'

'

'

'

'

'

'

'

Stated interest rate (in hundredths)

'

'

'

'

'

'

'

'

'

'

5.00%

'

'

'

'

'

'

'

'

Share price (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

$1.80

'

'

'

'

'

'

'

Liabilities assumed on acquisition

'

'

'

'

'

'

'

'

'

'

'

4,000,000

'

'

'

'

'

'

'

Transaction cost

'

'

'

'

'

'

'

'

'

'

'

3,000,000

'

'

'

'

'

'

'

Earnout amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,000,000

'

'

'

'

Fair value of earnout recorded at acquisition date

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,900,000

'

'

'

'

Earnout liability

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,900,000

'

'

'

Discount rate for valuation of acquired intangibles (in hundredths)

'

'

'

'

15.90%

18.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

Sales from business acquisitions

62,700,000

'

161,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Earnings from business acquisitions

700,000

'

3,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Pro Forma Information [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net sales

330,876,000

318,895,000

970,714,000

958,560,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income

$16,414,000

$13,363,000

$45,048,000

$40,149,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Per share data [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Basic earnings (in dollars per share)

$1.14

$0.92

$3.11

$2.78

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Diluted earnings (in dollars per share)

$1.07

$0.87

$2.95

$2.63

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

SEGMENT_REPORTING_Details

SEGMENT REPORTING (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Segment Reporting Information [Line Items]	'	'	'	'
Sales	$329,719	$289,923	$927,758	$804,104
Operating income for reportable segments	39,818	36,418	109,793	99,369
Adjustment for [Abstract]	'	'	'	'
Amortization of intangibles	3,434	3,474	9,221	8,264
Corporate and other expense, net	9,486	8,430	27,705	25,839
Operating income	26,898	24,514	72,867	65,266
Interest expense, net	1,614	2,287	4,930	3,878
Other income, net	-38	-21	-16	-33
Income before income taxes	25,322	22,248	67,953	61,421
Service Centers [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Sales	232,529	212,497	660,552	571,675
Operating income for reportable segments	27,557	26,410	75,976	67,455
IPS [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Sales	61,094	38,854	155,572	113,466
Operating income for reportable segments	9,059	7,227	24,267	22,414
SCS [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Sales	36,096	38,572	111,634	118,963
Operating income for reportable segments	$3,202	$2,781	$9,550	$9,500