DXP Enterprises (DXPE) 10-Q 11 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	11-May-15
Document and Entity Information [Abstract]
Entity Registrant Name	DXP ENTERPRISES INC
Entity Central Index Key	1020710
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		14,233,635
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash	$2,409	$47
Trade accounts receivable, net of allowance for doubtful accounts of $9,102 in 2015 and $8,713 in 2014	212,017	239,236
Inventories, net	112,659	115,658
Costs and estimated profits in excess of billings on uncompleted contracts	23,253	20,083
Prepaid expenses and other current assets	5,075	3,004
Deferred income taxes	7,908	8,250
Total current assets	363,321	386,278
Property and equipment, net	68,985	69,979
Goodwill	253,312	253,312
Other intangible assets, net of accumulated amortization of $73,657 in 2015 and $66,412 in 2014	123,088	130,333
Other long-term assets	1,736	1,730
Total assets	810,442	841,632
Current liabilities:
Current maturities of long-term debt	41,603	38,608
Trade accounts payable	93,730	100,774
Accrued wages and benefits	24,757	26,967
Federal income taxes payable	4,081	8,130
Customer advances	4,207	4,262
Billings in excess of costs and profits on uncompleted contracts	7,075	8,840
Other current liabilities	15,457	19,621
Total current liabilities	190,910	207,202
Long-term debt, less current maturities	363,222	372,908
Less unamortized debt issuance costs	-2,425	-2,714
Long-term debt less unamortized debt issuance costs	360,797	370,194
Non-current deferred income taxes	17,736	21,284
Commitments and Contingencies (Note 14)
Shareholders' equity:
Common stock, $0.01 par value, 100,000,000 shares authorized; 14,698,171 in 2015 and 14,655,356 in 2014 shares issued	146	146
Additional paid-in capital	115,972	115,605
Retained earnings	158,037	148,409
Accumulated other comprehensive loss	-8,740	-5,700
Treasury stock, at cost (471,615 shares in 2015 and 280,195 in 2014)	-24,432	-15,524
Total shareholders' equity	240,999	242,952
Total liabilities and stockholders' equity	810,442	841,632
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 $)	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Trade accounts receivable, allowance for doubtful accounts	$9,102	$8,713
Other intangible assets accumulated amortization	$73,657	$66,412
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)	14,698,171	14,655,356
Treasury stock (in shares)	471,615	280,195
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)	$100	$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, stated value (in dollars per share)	$100	$100
Preferred stock, liquidation preference (in dollars per share)	$100	$1,500
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
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (unaudited) [Abstract]
Sales	$341,594	$348,504
Cost of sales	243,545	246,797
Gross profit	98,049	101,707
Selling, general and administrative expense	79,950	80,553
Operating income	18,099	21,154
Other expense (income), net	-249	-150
Interest expense	2,683	3,397
Income before income taxes	15,665	17,907
Provision for income taxes	6,014	6,944
Net income	9,651	10,963
Preferred stock dividend	23	23
Net income attributable to common shareholders	9,628	10,940
Net income	9,651	10,963
Loss on long-term investment, net of income taxes	0	-55
Cumulative translation adjustment, net of income taxes	-3,040	-1,290
Comprehensive income (loss)	$6,611	$9,618
Basic earnings per share (in dollars per share)	$0.67	$0.74
Weighted average common shares outstanding (in shares)	14,391	14,724
Diluted earnings per share (in dollars per share)	$0.63	$0.70
Weighted average common shares and common equivalent shares outstanding (in shares)	15,231	15,564

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CASH FLOW FROM OPERATING ACTIVITIES:
Net income	$9,651	$10,963
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	2,901	2,984
Amortization of intangible assets	5,358	5,577
Bad debt expense	516	524
Amortization of debt issuance costs	289	289
Compensation expense for restricted stock	812	685
Tax loss (benefit) related to vesting of restricted stock	46	-637
Deferred income taxes	1,262	-3,157
Changes in operating assets and liabilities, net of assets and liabilities acquired in business acquisitions:
Trade accounts receivable	23,588	-18,010
Costs and estimated profits in excess of billings on uncompleted contracts	-3,340	6,510
Inventories	3,018	1,041
Prepaid expenses and other assets	-2,181	636
Accounts payable and accrued expenses	-18,389	10,450
Billings in excess of costs and estimated profits on uncompleted contracts	-1,550	2,795
Net cash provided by operating activities	21,981	20,650
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	-3,574	-1,684
Sale of long-term investment	0	-1,688
Acquisitions of businesses, net of cash acquired	0	-287,043
Net cash used in investing activities	-3,574	-290,415
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from debt	123,351	380,439
Principal payments on revolving line of credit and other long-term debt	-130,016	-104,454
Dividends paid	-23	-23
Purchase of treasury stock	-8,908	0
Tax benefit related to vesting of restricted stock	-46	637
Net cash provided by (used in) financing activities	-15,642	276,599
EFFECT OF FOREIGN CURRENCY ON CASH	-403	-172
NET CHANGE IN CASH AND CASH EQUIVALENTS	2,362	6,662
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	47	5,469
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$2,409	$12,131

THE_COMPANY

THE COMPANY	3 Months Ended
	Mar. 31, 2015
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, and service to industrial customers. Additionally, DXP provides integrated, custom pump skid packages, pump remanufacturing and manufactures branded private label pumps to industrial customers. The Company is organized into three business segments: Service Centers, Supply Chain Services (SCS) and Innovative Pumping Solutions (IPS). See Note 13 for discussion of the business segments.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES	3 Months Ended
	Mar. 31, 2015
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, 2014. 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 16, 2015. The results of operations for the three months ended March 31, 2015 are not necessarily indicative of results expected for the full fiscal year.
	All intercompany accounts and transactions have been eliminated upon consolidation.
	Revenue Recognition
	For binding agreements to fabricate tangible assets to customer specifications, the Company recognizes revenues using the percentage of completion method. Under this method, revenues are recognized as costs are incurred and included in estimated profits calculated on the basis of the relationship between costs incurred and total estimated costs at completion. If at any time expected costs exceed the value of the contract, the loss is recognized immediately. The typical time span of these contracts is approximately one to two years.

RECENT_ACCOUNTING_PRONOUNCEMEN

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2015
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 3 - RECENT ACCOUNTING PRONOUNCEMENTS
	In April 2015, the FASB issued ASU No. 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, which requires entities to recognize debt issuance costs related to a recognized debt liability as a direct deduction from the carrying amount of that debt liability. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, however, early adoption is permitted. DXP adopted this guidance for the first quarter of 2015 and adjusted the balance sheet for all periods presented.
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which provides guidance on revenue recognition. The core principal of this guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance requires entities to apply a five-step method to (1) identify the contract(s) with customers; (2) identify the performance obligation(s) in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligation(s) in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. In April 2015, the FASB issued a proposal to defer the effective date. If approved, the pronouncement would be effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. We are evaluating the impact that the adoption of this standard will have on our consolidated financial statements.
	In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740), which requires entities to present unrecognized tax benefits as a liability and not combine it with deferred tax assets to the extent a net operating loss carry-forward, a similar tax loss, or a tax credit carry-forward is not available at the reporting date. ASU 2013-11 is effective for fiscal years beginning after December 15, 2013. DXP adopted this guidance in the first quarter of 2014. There was no material effect on our financial statements.

FAIR_VALUE_OF_FINANCIAL_ASSETS

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES	3 Months Ended
	Mar. 31, 2015
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):
		Three Months Ended
		March 31,
		2015	2014
	Fair value at beginning of period	$            -	$        1,837
	Investment during the period	-	-
	Realized and unrealized gains (losses)	-	-149
	included in other comprehensive income
	Proceeds on sale of investment	-	-1,688
	Fair value at end of period	$            -	$               -
	The Company paid a total of $1.7 million for an investment with quoted market prices in an active market. At December 31, 2013, the market value of this investment was $1.8 million. During the nine months ended September 30, 2014, the Company sold this investment for $1.7 million. The Company recognized a $0.1 million loss in 2014 on the sale of this investment, which is included in other income within our condensed consolidated statements of income.
	During the fourth quarter of 2014, in connection with the annual test for impairment, DXP recorded total impairment charges of $117.6 million in order to reflect the implied fair values of goodwill, which is a non-recurring fair value adjustment. The fair values of goodwill used in the impairment calculations were estimated based on discounted estimated future cash flows with the discount rates of 10.0% to 13.5%. The measurements utilized to determine the implied fair value of goodwill represent significant unobservable inputs (Level 3) in accordance with the fair value hierarchy.

INVENTORY

INVENTORY	3 Months Ended
	Mar. 31, 2015
INVENTORY [Abstract]
INVENTORY	NOTE 5 - INVENTORY
	The carrying values of inventories are as follows (in thousands):
		March 31,	December 31,
		2015	2014
	Finished goods	$     100,372	$        99,732
	Work in process	12,287	15,926
	Inventories, net	$    112,659	$      115,658

COSTS_AND_ESTIMATED_EARNINGS_O

COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS	3 Months Ended
	Mar. 31, 2015
COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS [Abstract]
COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS	NOTE 6 – COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS
	Costs and estimated earnings in excess of billings on uncompleted contracts arise in the consolidated balance sheets when revenues have been recognized but the amounts cannot be billed under the terms of the contracts. Such amounts are recoverable from customers upon various measures of performance, including achievement of certain milestones, completion of specified units, or completion of a contract.
	Costs and estimated earnings on uncompleted contracts and related amounts billed were as follows (in thousands):
		31-Mar-15	31-Dec-14
	Costs incurred on uncompleted contracts	44,412	49,133
	Estimated earnings, thereon	15,037	16,749
	Total	59,449	65,882
	Less: billings to date	43,247	54,701
	Net	16,202	11,181
	Such amounts were included in the accompanying consolidated balance sheets for 2015 and 2014 under the following captions (in thousands):
		31-Mar-15	31-Dec-14
	Costs and estimated earnings in excess	$          23,253	$          20,083
	of billings on uncompleted contracts
	Billings in excess of costs and estimated	(7,075)	(8,840)
	earnings on uncompleted contracts
	Translation Adjustment	24	(62)
	Net	$          16,202	$          11,181

PROPERTY_AND_EQUIPMENT

PROPERTY AND EQUIPMENT	3 Months Ended
	Mar. 31, 2015
PROPERTY AND EQUIPMENT [Abstract]
PROPERTY AND EQUIPMENT	NOTE 7 - PROPERTY AND EQUIPMENT
	The carrying values of property and equipment are as follows (in thousands):
		March 31,	December 31,
		2015	2014
	Land	$       2,386	$       2,386
	Buildings and leasehold improvements	13,537	13,490
	Furniture, fixtures and equipment	98,849	97,829
	Less – Accumulated depreciation	-45,787	-43,726
	Total Property and Equipment, net	$    68,985	$    69,979

GOODWILL_AND_OTHER_INTANGIBLE_

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2015
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE 8 - GOODWILL AND OTHER INTANGIBLE ASSETS
	The following table presents the changes in the carrying amount of goodwill and other intangible assets during the three months ended March 31, 2015 (in thousands):
			Other	Total
		Goodwill	Intangible Assets
	Balance as of December 31, 2014	$   253,312	$      130,333	$    383,645
	Acquired during the period	-	-	-
	Translation adjustment	-	-1,887	-1,887
	Amortization	-	-5,358	-5,358
	Balance as of March 31, 2015	$  253,312	$     123,088	$   376,400
	The following table presents goodwill balance by reportable segment as of March 31, 2015 and December 31, 2014 (in thousands):
			December 31,
		March 31,	2014
		2015
	Service Centers	$    167,302	$   167,302
	Innovative Pumping Solutions	68,872	68,872
	Supply Chain Services	17,138	17,138
	Total	$    253,312	$   253,312
	The following table presents a summary of amortizable other intangible assets (in thousands):
		As of March 31, 2015
					As of December 31, 2014
		Gross		Carrying Amount, net	Gross		Carrying Amount, net
		Carrying	Accumulated		Carrying	Accumulated
		Amount	Amortization		Amount	Amortization
	Vendor agreements	$        2,496	$      (1,361)	$      1,135	$     2,496	$       (1,330)	$       1,166
	Customer relationships	192,512	-71,082	121,430	192,512	-63,957	128,555
	Non-compete agreements	1,737	-1,214	523	1,737	-1,125	612
	Total	$   196,745	$   (73,657)	$  123,088	$196,745	$     (66,412)	$   130,333
	Other intangible assets are generally amortized according to estimated economic benefits over their estimated useful lives.

LONGTERM_DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2015
LONG-TERM DEBT [Abstract]
LONG-TERM DEBT	NOTE 9 – LONG-TERM DEBT
	Long-term debt consisted of the following at March 31, 2015 and December 31, 2014 (in thousands):
		March 31,	December 31,
		2015	2014
	Line of credit	$   196,519	$     193,443
	Term loan	203,125	212,500
	Promissory note payable in monthly installments at 2.9% through	5,016	5,216
	January 2021, collateralized by equipment
	Unsecured subordinated notes payable in quarterly installments at 5%	165	357
	through November 2015
	Less unamortized debt issuance costs	-2,425	-2,714
		402,400	408,802
	Less: Current portion	-41,603	-38,608
	Long-term debt less current maturities	$  360,797	$   370,194
	On July 11, 2012, DXP entered into a credit facility with Wells Fargo Bank National Association, as Issuing Lender, Swingline Lender and Administrative Agent for the lenders (as amended, the “Original Facility”). On January 2, 2014, the Company entered into an Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as Issuing Lender and Administrative Agent for other lenders (the “Facility”), amending and restating the Original Facility.
	The Facility provides a term loan and a $350 million revolving line of credit to the Company. At March 31, 2015 the term loan component of the facility was $203.1 million. The Facility expires on January 2, 2019.
	The Facility provides the option of interest at LIBOR (or CDOR for Canadian dollar loans) plus an applicable margin ranging from 1.25% to 2.50% or prime plus an applicable margin from 0.25% to 1.50% where the applicable margin is determined by the Company’s leverage ratio as defined by the Facility as of the last day of the fiscal quarter most recently ended prior to the date of borrowing. Commitment fees of 0.20% to 0.45% 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.
	On March 31, 2015, the LIBOR based rate of the Facility was LIBOR plus 2.00% the prime based rate of the Facility was prime plus 1.00%, and the commitment fee was 0.35%. At March 31, 2015, $399.6 million was borrowed under the Facility at a weighted average interest rate of approximately 2.2% under the LIBOR options. At March 31, 2015, the Company had $41.3 million available for borrowing under the Facility.
	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	3 Months Ended
	Mar. 31, 2015
STOCK-BASED COMPENSATION [Abstract]
STOCK-BASED COMPENSATION	NOTE 10 - 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 March 31, 2015 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 March 31, 2015:
	Number of shares authorized for grants	800,000
	Number of shares granted	-850,378
	Number of shares forfeited	131,664
	Number of shares available for future grants	81,286
	Weighted-average grant price of granted shares	$         28.11
	Changes in restricted stock for the three months ended March 31, 2015 were as follows:
		Number of	Weighted Average
		Shares	Grant Price
	Non-vested at December 31, 2014	179,942	$52.71
	Granted	13,000	$46.08
	Forfeited	(8,643)	$62.76
	Vested	-42,815	$47.02
	Non-vested at March 31, 2015	141,484	$53.21
	Compensation expense, associated with restricted stock, recognized in the three months ended March 31, 2015 and 2014 was $0.8 million and $0.7 million, respectively. Related income tax benefits recognized in earnings for the three months ended March 31, 2015 and 2014 were approximately $0.3 million and $0.3 million, respectively. Unrecognized compensation expense under the Restricted Stock Plan at March 31, 2015 and December 31, 2014 was $6.7 million and $6.9 million, respectively. As of March 31, 2015, the weighted average period over which the unrecognized compensation expense is expected to be recognized is 31.2 months.

EARNINGS_PER_SHARE_DATA

EARNINGS PER SHARE DATA	3 Months Ended
	Mar. 31, 2015
EARNINGS PER SHARE DATA [Abstract]
EARNINGS PER SHARE DATA	NOTE 11 - 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
		March 31,
		2015	2014
	Basic:
	Weighted average shares outstanding	14,391	14,724
	Net income	$      9,651	$      10,963
	Convertible preferred stock dividend	23	23
	Net income attributable to common shareholders
		$      9,628	$      10,940
	Per share amount	$        0.67	$          0.74
	Diluted:
	Weighted average shares outstanding	14,391	14,724
	Assumed conversion of convertible	840	840
	preferred stock
	Total dilutive shares	15,231	15,564
	Net income attributable to
	common shareholders	$     9,628	$      10,940
	Convertible preferred stock dividend	23	23
	Net income for diluted	$     9,651	$      10,963
	earnings per share
	Per share amount	$       0.63	$          0.70

BUSINESS_ACQUISITIONS

BUSINESS ACQUISITIONS	3 Months Ended
	Mar. 31, 2015
BUSINESS ACQUISITIONS [Abstract]
BUSINESS ACQUISITIONS	NOTE 12 - 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. Goodwill 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 our acquisitions with the operations of DXP and any intangible assets that do not qualify for separate recognition such as the assembled workforce.
	On January 2, 2014, the Company completed the acquisition of all of the equity securities and units of B27, LLC (“B27”) by way of a Securities Purchase Agreement to expand DXP’s pump packaging offering. The total transaction value was approximately $293.6 million, excluding approximately $1.0 million in transaction costs recognized within SG&A in the 2013 statement of income.  The purchase price was financed with borrowings under our amended credit facility and approximately $4.0 million (36,000 shares) of DXP common stock. DXP has not completed the valuation of working capital due to a dispute with the sellers of B27 regarding the working capital adjustment to the purchase price. Estimated goodwill of $178.3 million and intangible assets of $81.1 million were recognized for this acquisition. Approximately $154.6 million of the estimated goodwill or intangible assets are expected not to be tax deductible. The estimated goodwill associated with this acquisition is included in the IPS and Service Centers segments. During the fourth quarter of 2014, DXP performed its annual impairment test and recognized impairment expense of $105.3 million on the goodwill associated with the acquisition of B27.
	On May 1, 2014, the Company completed the acquisition of all of the equity interests of Machinery Tooling and Supply, LLC (“MT&S”) to expand DXP’s cutting tools offering in the North Central region of the United States. DXP paid approximately $14.7 million for MT&S, which was borrowed under our existing credit facility. DXP has completed valuations of intangibles for MT&S, the valuation of working capital items, and completed the analysis of tax effects, however, the amounts remain preliminary due to potential working capital adjustments. Estimated goodwill of $4.3 million and intangible assets of $4.1 million were recognized for this acquisition. All of the estimated 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. For B27, a discount rate of 13.5% was deemed appropriate for valuing these assets and was 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 months ended March 31, 2015, businesses acquired during 2014 contributed sales of $43.7 million and a loss before taxes of approximately $1.4 million.
	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed during 2014 in connection with the acquisitions described above (in thousands):
		B27	MT&S	Total
	Cash	$     2,538	$     806	$    3,344
	Accounts Receivable, net	51,448	5,656	57,104
	Inventory	6,472	2,522	8,994
	Property and equipment	14,573	557	15,130
	Goodwill and intangibles(1)	259,412	8,405	267,817
	Other assets	1,791	59	1,850
	Assets acquired	336,234	18,005	354,239
	Current liabilities assumed	26,690	3,336	30,026
	Non-current liabilities assumed	15,992	-	15,992
	Net assets acquired	$293,552	$14,669	$308,221
	(1) The amounts in the table above do not reflect the $105.3 million of goodwill impairment charges for B27 recorded in the fourth quarter of 2014.
	The pro forma unaudited results of operations for the Company on a consolidated basis for the three months ended March 31, 2015 and 2014, assuming the acquisition of businesses completed in 2014 were consummated as of January 1, 2014 are as follows (in thousands, except per share data):
		Three Months Ended
		March 31,
		2015		2014
	Net sales	$  341,594		$  358,304
	Net income	$      9,651		$    11,876
	Per share data
	Basic earnings	$        0.67		$        0.81
	Diluted earnings	$        0.63		$        0.76

SEGMENT_REPORTING

SEGMENT REPORTING	3 Months Ended
	Mar. 31, 2015
SEGMENT REPORTING [Abstract]
SEGMENT REPORTING	NOTE 13 - 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 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 pump packages, remanufactures pumps and manufactures branded private label pumps. 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 March 31,
		Service	IPS	SCS
		Centers			Total
	2015
	Sales	$225,792	$  74,263	$   41,539	$341,594
	Operating income for reportable segments	$   22,866	$    8,626	$     3,279	$   34,771
	2014
	Sales	$231,224	$  79,881	$   37,399	$348,504
	Operating income for reportable segments	$   24,425	$    9,549	$     3,125	$   37,099
	The following table presents reconciliations of operating income for reportable segments to the consolidated income before taxes (in thousands):
	Three Months Ended March 31,
	2015	2014
	Operating income for reportable segments	$     34,771	$      37,099
	Adjustment for:
	Amortization of intangibles	5,358	5,577
	Corporate and other expense, net	11,314	10,368
	Total operating income	18,099	21,154
	Interest expense, net	2,683	3,397
	Other expense (income), net	-249	-150
	Income before income taxes	$    15,665	$      17,907

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 14 – 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.

SHARE_REPURCHASES

SHARE REPURCHASES	3 Months Ended
	Mar. 31, 2015
SHARE REPURCHASES [Abstract]
SHARE REPURCHASES	NOTE 15 – SHARE REPURCHASES
	On December 17, 2014, DXP publicly announced an authorization from the Board of Directors that allows DXP from time to time to purchase up to 400,000 shares of DXP's common stock over 24 months. Purchases could be made in open market or in privately negotiated transactions. DXP has purchased 191,420 shares for $8.9 million under this authorization as of March 31, 2015.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2015
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 16 - SUBSEQUENT EVENTS
	On April 1, 2015, DXP acquired substantially all of the equity interests of Tool Supply, Inc. (“Tool Supply”). DXP acquired this business to enhance our metal working product offering in the Pacific northwest region of the United States. DXP paid approximately $5.2 million for Tool Supply which was borrowed under our existing credit Facility.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES [Abstract]
Basis of Presentation	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, 2014. 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 16, 2015. The results of operations for the three months ended March 31, 2015 are not necessarily indicative of results expected for the full fiscal year.
	All intercompany accounts and transactions have been eliminated upon consolidation.
Revenue Recognition	Revenue Recognition
	For binding agreements to fabricate tangible assets to customer specifications, the Company recognizes revenues using the percentage of completion method. Under this method, revenues are recognized as costs are incurred and included in estimated profits calculated on the basis of the relationship between costs incurred and total estimated costs at completion. If at any time expected costs exceed the value of the contract, the loss is recognized immediately. The typical time span of these contracts is approximately one to two years.

FAIR_VALUE_OF_FINANCIAL_ASSETS1

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2015
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):
		Three Months Ended
		March 31,
		2015	2014
	Fair value at beginning of period	$            -	$        1,837
	Investment during the period	-	-
	Realized and unrealized gains (losses)	-	-149
	included in other comprehensive income
	Proceeds on sale of investment	-	-1,688
	Fair value at end of period	$            -	$               -

INVENTORY_Tables

INVENTORY (Tables)	3 Months Ended
	Mar. 31, 2015
INVENTORY [Abstract]
Carrying Values of Inventories	The carrying values of inventories are as follows (in thousands):
		March 31,	December 31,
		2015	2014
	Finished goods	$     100,372	$        99,732
	Work in process	12,287	15,926
	Inventories, net	$    112,659	$      115,658

COSTS_AND_ESTIMATED_EARNINGS_O1

COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS (Tables)	3 Months Ended
	Mar. 31, 2015
COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS [Abstract]
Schedule of Costs and Estimated Earnings on Uncompleted Contracts	Costs and estimated earnings on uncompleted contracts and related amounts billed were as follows (in thousands):
		31-Mar-15	31-Dec-14
	Costs incurred on uncompleted contracts	44,412	49,133
	Estimated earnings, thereon	15,037	16,749
	Total	59,449	65,882
	Less: billings to date	43,247	54,701
	Net	16,202	11,181
Schedule of Costs and Estimated Earnings on Uncompleted Contracts Included in Balance Sheet	Such amounts were included in the accompanying consolidated balance sheets for 2015 and 2014 under the following captions (in thousands):
		31-Mar-15	31-Dec-14
	Costs and estimated earnings in excess	$          23,253	$          20,083
	of billings on uncompleted contracts
	Billings in excess of costs and estimated	(7,075)	(8,840)
	earnings on uncompleted contracts
	Translation Adjustment	24	(62)
	Net	$          16,202	$          11,181

PROPERTY_AND_EQUIPMENT_Tables

PROPERTY AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2015
PROPERTY AND EQUIPMENT [Abstract]
Carrying Values of Property and Equipment	The carrying values of property and equipment are as follows (in thousands):
		March 31,	December 31,
		2015	2014
	Land	$       2,386	$       2,386
	Buildings and leasehold improvements	13,537	13,490
	Furniture, fixtures and equipment	98,849	97,829
	Less – Accumulated depreciation	-45,787	-43,726
	Total Property and Equipment, net	$    68,985	$    69,979

GOODWILL_AND_OTHER_INTANGIBLE_1

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2015
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 three months ended March 31, 2015 (in thousands):
			Other	Total
		Goodwill	Intangible Assets
	Balance as of December 31, 2014	$   253,312	$      130,333	$    383,645
	Acquired during the period	-	-	-
	Translation adjustment	-	-1,887	-1,887
	Amortization	-	-5,358	-5,358
	Balance as of March 31, 2015	$  253,312	$     123,088	$   376,400
Goodwill Balance by Reportable Segment	The following table presents goodwill balance by reportable segment as of March 31, 2015 and December 31, 2014 (in thousands):
			December 31,
		March 31,	2014
		2015
	Service Centers	$    167,302	$   167,302
	Innovative Pumping Solutions	68,872	68,872
	Supply Chain Services	17,138	17,138
	Total	$    253,312	$   253,312
Amortizable Other Intangible Assets	The following table presents a summary of amortizable other intangible assets (in thousands):
		As of March 31, 2015
					As of December 31, 2014
		Gross		Carrying Amount, net	Gross		Carrying Amount, net
		Carrying	Accumulated		Carrying	Accumulated
		Amount	Amortization		Amount	Amortization
	Vendor agreements	$        2,496	$      (1,361)	$      1,135	$     2,496	$       (1,330)	$       1,166
	Customer relationships	192,512	-71,082	121,430	192,512	-63,957	128,555
	Non-compete agreements	1,737	-1,214	523	1,737	-1,125	612
	Total	$   196,745	$   (73,657)	$  123,088	$196,745	$     (66,412)	$   130,333

LONGTERM_DEBT_Tables

LONG-TERM DEBT (Tables)	3 Months Ended
	Mar. 31, 2015
LONG-TERM DEBT [Abstract]
Long-term Debt	Long-term debt consisted of the following at March 31, 2015 and December 31, 2014 (in thousands):
		March 31,	December 31,
		2015	2014
	Line of credit	$   196,519	$     193,443
	Term loan	203,125	212,500
	Promissory note payable in monthly installments at 2.9% through	5,016	5,216
	January 2021, collateralized by equipment
	Unsecured subordinated notes payable in quarterly installments at 5%	165	357
	through November 2015
	Less unamortized debt issuance costs	-2,425	-2,714
		402,400	408,802
	Less: Current portion	-41,603	-38,608
	Long-term debt less current maturities	$  360,797	$   370,194

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2015
STOCK-BASED COMPENSATION [Abstract]
Employee and Non-employee Restricted Stock Plan	The following table provides certain information regarding the shares authorized and outstanding under the Restricted Stock Plan at March 31, 2015:
	Number of shares authorized for grants	800,000
	Number of shares granted	-850,378
	Number of shares forfeited	131,664
	Number of shares available for future grants	81,286
	Weighted-average grant price of granted shares	$         28.11
Changes in Restricted Stock	Changes in restricted stock for the three months ended March 31, 2015 were as follows:
		Number of	Weighted Average
		Shares	Grant Price
	Non-vested at December 31, 2014	179,942	$52.71
	Granted	13,000	$46.08
	Forfeited	(8,643)	$62.76
	Vested	-42,815	$47.02
	Non-vested at March 31, 2015	141,484	$53.21

EARNINGS_PER_SHARE_DATA_Tables

EARNINGS PER SHARE DATA (Tables)	3 Months Ended
	Mar. 31, 2015
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
		March 31,
		2015	2014
	Basic:
	Weighted average shares outstanding	14,391	14,724
	Net income	$      9,651	$      10,963
	Convertible preferred stock dividend	23	23
	Net income attributable to common shareholders
		$      9,628	$      10,940
	Per share amount	$        0.67	$          0.74
	Diluted:
	Weighted average shares outstanding	14,391	14,724
	Assumed conversion of convertible	840	840
	preferred stock
	Total dilutive shares	15,231	15,564
	Net income attributable to
	common shareholders	$     9,628	$      10,940
	Convertible preferred stock dividend	23	23
	Net income for diluted	$     9,651	$      10,963
	earnings per share
	Per share amount	$       0.63	$          0.70

BUSINESS_ACQUISITIONS_Tables

BUSINESS ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2015
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 2014 in connection with the acquisitions described above (in thousands):
		B27	MT&S	Total
	Cash	$     2,538	$     806	$    3,344
	Accounts Receivable, net	51,448	5,656	57,104
	Inventory	6,472	2,522	8,994
	Property and equipment	14,573	557	15,130
	Goodwill and intangibles(1)	259,412	8,405	267,817
	Other assets	1,791	59	1,850
	Assets acquired	336,234	18,005	354,239
	Current liabilities assumed	26,690	3,336	30,026
	Non-current liabilities assumed	15,992	-	15,992
	Net assets acquired	$293,552	$14,669	$308,221
	(1) The amounts in the table above do not reflect the $105.3 million of goodwill impairment charges for B27 recorded in the fourth quarter of 2014.
Pro Forma Unaudited Results of Operations	The pro forma unaudited results of operations for the Company on a consolidated basis for the three months ended March 31, 2015 and 2014, assuming the acquisition of businesses completed in 2014 were consummated as of January 1, 2014 are as follows (in thousands, except per share data):
		Three Months Ended
		March 31,
		2015		2014
	Net sales	$  341,594		$  358,304
	Net income	$      9,651		$    11,876
	Per share data
	Basic earnings	$        0.67		$        0.81
	Diluted earnings	$        0.63		$        0.76

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	3 Months Ended
	Mar. 31, 2015
SEGMENT REPORTING [Abstract]
Segment Reporting Financial Information	The following table sets out financial information relating the Company’s segments (in thousands):
		Three Months ended March 31,
		Service	IPS	SCS
		Centers			Total
	2015
	Sales	$225,792	$  74,263	$   41,539	$341,594
	Operating income for reportable segments	$   22,866	$    8,626	$     3,279	$   34,771
	2014
	Sales	$231,224	$  79,881	$   37,399	$348,504
	Operating income for reportable segments	$   24,425	$    9,549	$     3,125	$   37,099
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 March 31,
	2015	2014
	Operating income for reportable segments	$     34,771	$      37,099
	Adjustment for:
	Amortization of intangibles	5,358	5,577
	Corporate and other expense, net	11,314	10,368
	Total operating income	18,099	21,154
	Interest expense, net	2,683	3,397
	Other expense (income), net	-249	-150
	Income before income taxes	$    15,665	$      17,907

THE_COMPANY_Details

THE COMPANY (Details)	3 Months Ended
	Mar. 31, 2015
	Segment
THE COMPANY [Abstract]
Number of segments	3

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING AND BUSINESS POLICIES (Details)	3 Months Ended
	Mar. 31, 2015
Revenue Recognition [Abstract]
Minimum contract period	1 year
Maximum contract period	2 years

FAIR_VALUE_OF_FINANCIAL_ASSETS2

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Details) (USD $)	3 Months Ended			12 Months Ended
	Dec. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Goodwill impairment expense	$117,600,000
Maximum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Estimated future cash flows discount rate (in hundredths)	13.50%
Minimum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Estimated future cash flows discount rate (in hundredths)	10.00%
Level 1 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value at beginning of period		0	1,837,000	1,837,000
Investment during the period		0	0
Realized and unrealized gains (losses) included in other comprehensive income		0	-149,000
Proceeds on sale of investment		0	-1,688,000
Fair value at end of period	0	0	0	0
Payment for investment		1,700,000
Loss on sale of investments				$100,000

INVENTORY_Details

INVENTORY (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
INVENTORY [Abstract]
Finished goods	$100,372	$99,732
Work in process	12,287	15,926
Inventories, net	$112,659	$115,658

COSTS_AND_ESTIMATED_EARNINGS_O2

COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Schedule of costs and estimated earnings on uncompleted contracts [Abstract]
Costs incurred on uncompleted contracts	$44,412	$49,133
Estimated earnings, thereon	15,037	16,749
Total	59,449	65,882
Less: billings to date	43,247	54,701
Net	16,202	11,181
Schedule of costs and estimated earnings on uncompleted contracts included in balance sheet [Abstract]
Costs and estimated earnings in excess of billings on uncompleted contracts	23,253	20,083
Billings in excess of costs and estimated earnings on uncompleted contracts	-7,075	-8,840
Translation Adjustment	24	-62
Net	$16,202	$11,181

PROPERTY_AND_EQUIPMENT_Details

PROPERTY AND EQUIPMENT (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]
Less - Accumulated depreciation	($45,787)	($43,726)
Total Property and Equipment, net	68,985	69,979
Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,386	2,386
Buildings and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	13,537	13,490
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$98,849	$97,829

GOODWILL_AND_OTHER_INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Goodwill [Roll Forward]
Beginning balance	$253,312
Acquired during the period	0
Translation adjustment	0
Amortization	0
Ending balance	253,312
Other Intangibles Assets [Roll Forward]
Balance at beginning of period	130,333
Acquired during the year	0
Translation adjustment	-1,887
Amortization	-5,358	-5,577
Balance at end of period	123,088
Total Goodwill and Intangible Assets [Roll Forward]
Beginning Balance	383,645
Acquired during the year	0
Translation adjustment	-1,887
Amortization	-5,358	-5,577
Ending Balance	376,400
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	196,745		196,745
Accumulated amortization	-73,657		-66,412
Carrying amount, net	123,088		130,333
Vendor Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	2,496		2,496
Accumulated amortization	-1,361		-1,330
Carrying amount, net	1,135		1,166
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	192,512		192,512
Accumulated amortization	-71,082		-63,957
Carrying amount, net	121,430		128,555
Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,737		1,737
Accumulated amortization	-1,214		-1,125
Carrying amount, net	523		612
Service Centers [Member]
Goodwill [Roll Forward]
Beginning balance			167,302
Ending balance	167,302		167,302
Innovative Pumping Solutions [Member]
Goodwill [Roll Forward]
Beginning balance			68,872
Ending balance	68,872		68,872
Supply Chain Services [Member]
Goodwill [Roll Forward]
Beginning balance			17,138
Ending balance	$17,138		$17,138

GOODWILL_AND_OTHER_INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, Goodwill balance by reportable segment (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Goodwill [Line Items]
Goodwill	$253,312	$253,312
Service Centers [Member]
Goodwill [Line Items]
Goodwill	167,302	167,302
Innovative Pumping Solutions [Member]
Goodwill [Line Items]
Goodwill	68,872	68,872
Supply Chain Services [Member]
Goodwill [Line Items]
Goodwill	$17,138	$17,138

LONGTERM_DEBT_Details

LONG-TERM DEBT (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Borrowings [Abstract]
Long-term debt	402,400,000	$408,802,000
Less unamortized debt issuance costs	-2,425,000	-2,714,000
Less: Current portion	-41,603,000	-38,608,000
Long-term debt, less current maturities	360,797,000	370,194,000
Line of Credit [Member]
Borrowings [Abstract]
Long-term debt	196,519,000	193,443,000
Term Loan [Member]
Borrowings [Abstract]
Long-term debt	203,125,000	212,500,000
Promissory Note Payable [Member]
Borrowings [Abstract]
Long-term debt	5,016,000	5,216,000
Quarterly installments (in hundredths)	2.90%	2.90%
Unsecured Subordinated Notes Payable [Member]
Borrowings [Abstract]
Long-term debt	165,000	357,000
Quarterly installments (in hundredths)	5.00%	5.00%
Wells Fargo Bank, National Association [Member] | Line of Credit [Member]
Borrowings [Abstract]
Maximum borrowing capacity	350,000,000
Wells Fargo Bank, National Association [Member] | Line of Credit [Member] | LIBOR [Member]
Borrowings [Abstract]
Basis spread on base rate (in hundredths)	2.00%
Wells Fargo Bank, National Association [Member] | Line of Credit [Member] | Prime rate [Member]
Borrowings [Abstract]
Basis spread on base rate (in hundredths)	1.00%
Wells Fargo Bank, National Association [Member] | Revolving Credit Facility [Member]
Borrowings [Abstract]
Commitment fee (in hundredths)	0.35%
Available for borrowing under the facility	41,300,000
Expiration date	2-Jan-19
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)	0.45%
Wells Fargo Bank, National Association [Member] | Revolving Credit Facility [Member] | LIBOR [Member]
Borrowings [Abstract]
Base rate	LIBOR
Amount outstanding	399,600,000
Weighted average interest rate (in hundredths)	2.20%
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)	2.50%
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)	1.50%

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentages of vesting for one year (in hundredths)	100.00%
Percentages of vesting for three years (in hundredths)	33.30%
Percentages of vesting for five years (in hundredths)	20.00%
Percentages of vesting for ten years (in hundredths)	10.00%
Number of shares granted (in shares)	-13,000
Number of shares forfeited (in shares)	8,643
Weighted-average grant price of granted shares (in dollars per share)	$46.08
Restricted Stock [Roll Forward]
Non-vested, beginning balance (in shares)	179,942
Granted (in shares)	13,000
Forfeited (in shares)	-8,643
Vested (in shares)	-42,815
Non-vested, ending balance (in shares)	141,484
Weighted Average Grant Price [Roll Forward]
Non-vested, beginning balance (in dollars per share)	$52.71
Granted (in dollars per share)	$46.08
Forfeitures (in dollars per share)	$62.76
Vested (in dollars per share)	$47.02
Non-vested, ending balance (in dollars per share)	$53.21
Stock compensation expense	$812,000	$685,000
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 March 31, 2015 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)	-850,378
Number of shares forfeited (in shares)	131,664
Number of shares available for future grants (in shares)	81,286
Weighted-average grant price of granted shares (in dollars per share)	$28.11
Restricted Stock [Roll Forward]
Granted (in shares)	850,378
Forfeited (in shares)	-131,664
Weighted Average Grant Price [Roll Forward]
Granted (in dollars per share)	$28.11
Stock compensation expense	800,000	700,000
Related income tax benefits recognized	300,000	300,000
Unrecognized compensation expense	$6,700,000		$6,900,000
Compensation cost not yet recognized, Period for recognition	31 months 6 days

EARNINGS_PER_SHARE_DATA_Detail

EARNINGS PER SHARE DATA (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Basic [Abstract]
Weighted average shares outstanding (in shares)	14,391	14,724
Net income	$9,651	$10,963
Convertible preferred stock dividend	23	23
Net income attributable to common shareholders	9,628	10,940
Per share amount (in dollars per share)	$0.67	$0.74
Diluted [Abstract]
Weighted average shares outstanding (in shares)	14,391	14,724
Assumed conversion of convertible preferred stock (in shares)	840	840
Total dilutive shares (in shares)	15,231	15,564
Net income attributable to common shareholders	9,628	10,940
Convertible preferred stock dividend	23	23
Net income for diluted earnings per share	$9,651	$10,963
Per share amount (in dollars per share)	$0.63	$0.70

BUSINESS_ACQUISITIONS_Details

BUSINESS ACQUISITIONS (Details) (USD $)	3 Months Ended				0 Months Ended
	Mar. 31, 2015		Dec. 31, 2014	Mar. 31, 2014	Jan. 02, 2014	1-May-14
Purchase price allocation [Abstract]
Cash	$3,344,000
Accounts Receivable, net	57,104,000
Inventory	8,994,000
Property and equipment	15,130,000
Goodwill and intangibles	267,817,000	[1]
Other assets	1,850,000
Assets acquired	354,239,000
Current liabilities assumed	30,026,000
Non-current liabilities assumed	15,992,000
Net assets acquired	308,221,000
Goodwill acquired	253,312,000		253,312,000
Goodwill impairment expense			117,600,000
Pro Forma Information [Abstract]
Net sales	341,594,000			358,304,000
Net income	9,651,000			11,876,000
Per share data [Abstract]
Basic earnings (in dollars per share)	$0.67			$0.81
Diluted earnings (in dollars per share)	$0.63			$0.76
Business acquired in 2014 [Member]
Purchase price allocation [Abstract]
Maximum period of information after acquisition date for revision in estimates	1 year
Sales from business acquisitions	43,700,000
Earnings (loss) before taxes from business acquisitions	1,400,000
Minimum [Member]
Purchase price allocation [Abstract]
Discount rate for valuation of acquired intangibles (in hundredths)			10.00%
Maximum [Member]
Purchase price allocation [Abstract]
Discount rate for valuation of acquired intangibles (in hundredths)			13.50%
B27, LLC [Member]
Purchase price allocation [Abstract]
Cash	2,538,000
Accounts Receivable, net	51,448,000
Inventory	6,472,000
Property and equipment	14,573,000
Goodwill and intangibles	259,412,000	[1]
Other assets	1,791,000
Assets acquired	336,234,000
Current liabilities assumed	26,690,000
Non-current liabilities assumed	15,992,000
Net assets acquired	293,552,000
Purchase price					293,600,000
Number of shares issued on acquisition (in shares)					36,000
Goodwill acquired					178,300,000
Goodwill impairment expense			105,300,000
Intangible assets acquired					81,100,000
Purchase price financed under common stock issued					4,000,000
Transaction cost					1,000,000
Nontax deductible goodwill or intangible assets					154,600,000
Discount rate for valuation of acquired intangibles (in hundredths)	13.50%
Machinery Tooling and Supply LLC [Member]
Purchase price allocation [Abstract]
Cash	806,000
Accounts Receivable, net	5,656,000
Inventory	2,522,000
Property and equipment	557,000
Goodwill and intangibles	8,405,000	[1]
Other assets	59,000
Assets acquired	18,005,000
Current liabilities assumed	3,336,000
Non-current liabilities assumed	0
Net assets acquired	14,669,000
Purchase price						14,700,000
Goodwill acquired						4,300,000
Intangible assets acquired						$4,100,000
[1]	The amounts in the table above do not reflect the $105.3 million of goodwill impairment charges for B27 recorded in the fourth quarter of 2014.

SEGMENT_REPORTING_Details

SEGMENT REPORTING (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Adjustment for [Abstract]
Amortization of intangibles	$5,358	$5,577
Operating income	18,099	21,154
Interest expense, net	2,683	3,397
Other expense (income), net	-249	-150
Income before income taxes	15,665	17,907
Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales	341,594	348,504
Operating income for reportable segments	34,771	37,099
Adjustment for [Abstract]
Operating income	18,099	21,154
Operating Segments [Member] | Service Centers [Member]
Segment Reporting Information [Line Items]
Sales	225,792	231,224
Operating income for reportable segments	22,866	24,425
Operating Segments [Member] | IPS [Member]
Segment Reporting Information [Line Items]
Sales	74,263	79,881
Operating income for reportable segments	8,626	9,549
Operating Segments [Member] | SCS [Member]
Segment Reporting Information [Line Items]
Sales	41,539	37,399
Operating income for reportable segments	3,279	3,125
Segment Reconciling Items [Member]
Adjustment for [Abstract]
Amortization of intangibles	5,358	5,577
Corporate and other expense, net	$11,314	$10,368

SHARE_REPURCHASES_Details

SHARE REPURCHASES (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015
SHARE REPURCHASES [Abstract]
Number of shares authorized to repurchase (in shares)	400,000
Authorized repurchase period (in months)	24 months
Share repurchased (in shares)	191,420
Value of treasury acquired	$8.90

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (Machinery Tooling and Supply LLC [Member], USD $)	0 Months Ended
In Millions, unless otherwise specified	1-May-14	Apr. 01, 2015
Subsequent Event [Line Items]
Consideration paid to acquire business	$14.70
Subsequent Event [Member]
Subsequent Event [Line Items]
Consideration paid to acquire business		$5.20