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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    ---------------------
 
                                   FORM 10-K


(MARK ONE)
    [X]     ANNUAL REPORT PURSUANT TO SECTION 13 OF
            THE SECURITIES EXCHANGE ACT OF 1934 (FEE REQUIRED)
                 FOR THE FISCAL YEAR ENDED: DECEMBER 31, 1995(MARK ONE)
     [X]        ANNUAL REPORT PURSUANT TO SECTION 13 OF
                THE SECURITIES EXCHANGE ACT OF 1934

                  FOR THE FISCAL YEAR ENDED: DECEMBER 31, 2000

                                       OR

     [ ]        TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
                           COMMISSION FILE NO. 1-5690
GENUINE PARTS COMPANY (Exact name of Registrant as specified in its Charter) GEORGIA 58-0254510 (State of Incorporation) (IRS Employer Identification No.)
2999 CIRCLE 75 PARKWAY, ATLANTA, GEORGIA 30339 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (770) 953-1700. Securities registered pursuant to Section 12(b) of the Act and the Exchange on which such securities are registered: Common Stock, Par Value, $1 Per Share New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes X[X] No [ ] Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K, or any amendment to this Form 10-K. [X][ ] The aggregate market value of the Registrant's Common Stock (based upon the closing sales price reported by the New York Stock Exchange and published in The Wall Street Journal for February 9, 1996)8, 2001) held by non-affiliates as of February 9, 19968, 2001 was approximately $5,000,416,444.$4,386,899,145. The number of shares outstanding of Registrant's Common Stock, as of February 9, 1996: 121,869,968.8, 2001: 171,987,550 Documents Incorporated by Reference: --Portions- Portions of the Annual Report to Shareholders for the fiscal year ended December 31, 1995,2000, are incorporated by reference into Parts I and II. --Portions- Portions of the definitive proxy statement for the Annual Meeting of Shareholders to be held on April 15, 199616, 2001 are incorporated by reference into Part III. - -------------------------------------------------------------------------------- - --------------------------------------------------------------------------------================================================================================ 2 PART I. ITEM I. BUSINESS. Genuine Parts Company, a Georgia corporation incorporated on May 7, 1928, is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and office products.electrical/electronic materials. In 1995,2000, business was conducted throughout most of the United States, in Canada and in western CanadaMexico from more than 1250 operations.approximately 1,800 locations. As used in this report, the "Company" refers to Genuine Parts Company and its subsidiaries, except as otherwise indicated by the context; and the terms "automotive parts" and "industrial parts" refer to replacement parts in each respective category. Industry Segment Data.SEGMENT DATA. The following table sets forth the net sales, operating profit and identifiable assetsvarious segment data for the fiscal years 1995, 19942000, 1999, and 19931998 attributable to each of the Company's groups of products whichthat the Company believes indicate segments of its business. Sales to unaffiliated customers are the same as net sales.
1995 1994 1993 ---- ---- ---- NET SALES2000 1999 1998 ----------- ----------- ----------- (in thousands) --------- NET SALES Automotive Parts $ 2,804,0864,163,814 $ 2,693,9614,084,775 $ 2,485,2673,262,406 Industrial Parts 1,509,566 1,317,495 1,153,3712,342,686 2,156,134 2,008,789 Office Products 948,252 846,959 745,6561,336,500 1,218,367 1,122,420 Electrical/Electronic Materials 557,866 522,411 220,417 Other (31,009) (30,865) (26,456) ----------- ----------- ----------- TOTAL NET SALES $ 5,261,9048,369,857 $ 4,858,4157,950,822 $ 4,384,2946,587,576 =========== =========== =========== OPERATING PROFIT ---------------- Automotive Parts $ 307,726381,250 $ 304,164383,830 $ 282,791330,988 Industrial Parts 132,952 111,822 96,727206,193 186,203 176,456 Office Products 93,888 78,206 65,938134,343 118,345 113,821 Electrical/Electronic Materials 28,010 23,343 12,030 ----------- ----------- ----------- TOTAL OPERATING PROFIT 534,566 494,192 445,456749,796 711,721 633,295 Interest Expense (3,419) (1,321) (1,584)(63,496) (41,487) (20,096) Corporate Expense (25,939) (22,854) (20,405)(23,277) (22,283) (19,545) Equity in Income 8,298 7,224 4,452from Investees -- (3,675) 3,329 Goodwill Amortization (13,843) (12,708) (5,157) Minority Interests (2,712) (2,373) (2,090)(2,430) (3,501) (2,709) ----------- ----------- ----------- INCOME BEFORE INCOME TAXES $ 510,794646,750 $ 474,868628,067 $ 425,829589,117 =========== =========== =========== IDENTIFIABLE ASSETS ------------------- Automotive Parts $ 1,320,9102,099,610 $ 1,223,4162,034,417 $ 1,152,1481,966,774 Industrial Parts 482,067 404,647 370,633840,585 758,206 671,454 Office Products 360,456 308,817 283,479 ----------- ----------- ----------- TOTAL IDENTIFIABLE ASSETS 2,163,433 1,936,880 1,806,260542,406 503,904 442,220 Electrical/Electronic Materials 190,635 174,258 147,074 Corporate Assets 18,631 5,950 6,73117,443 18,588 18,385 Goodwill and Equity Investments 92,068 86,641 57,765451,435 440,299 354,473 ----------- ----------- ----------- TOTAL ASSETS $ 2,274,1324,142,114 $ 2,029,4713,929,672 $ 1,870,7563,600,380 =========== =========== =========== NET SALES United States $ 7,665,498 $ 7,345,707 $ 6,535,020 Canada 633,715 585,504 79,012 Mexico 101,653 50,476 -- Other (31,009) (30,865) (26,456) ----------- ----------- ----------- TOTAL NET SALES $ 8,369,857 $ 7,950,822 $ 6,587,576 =========== =========== =========== NET LONG-LIVED ASSETS United States $ 618,818 $ 620,837 $ 545,452 Canada 201,895 207,672 187,951 Mexico 25,982 25,333 15,338 ----------- ----------- ----------- TOTAL NET LONG-LIVED ASSETS $ 846,695 $ 853,842 $ 748,741 =========== =========== ===========
For(For additional information regarding industrysegment data, see Page 2717 of Annual Report to Shareholders for 1995. The majority of the Company's revenue, profitability and identifiable assets are attributable to the Company's operations in the United States. Revenue, profitability and identifiable assets in Canada and Mexico are not material. For additional information regarding foreign operations, see "Note 1 of Notes to Consolidated Financial Statements" on Page 23 of Annual Report to Shareholders for 1995. Competition2000.) -2- 3 COMPETITION - General.GENERAL. The distribution business, which includes all segments of the Company's business, is highly competitive with the principal methods of competition being product quality, sufficiency of inventory, price and the ability to give the customer prompt and dependable service. The Company anticipates no decline in competition in any of its business segments in the -2- 3 foreseeable future. Employees.EMPLOYEES. As of December 31, 1995,2000, the Company employed approximately 22,50033,000 persons. AUTOMOTIVE PARTS GROUP. The Automotive Parts Group, the largest division of the Company, distributes automotive replacement parts and accessory items. The Company is the largest member of the National Automotive Parts Association ("NAPA"), a voluntary trade association formed in 1925 to provide nationwide distribution of automotive parts. In addition to approximately 165,000over 250,000 available part numbers, that are available, the Company, in conjunction with NAPA, offers complete inventory, accounting, cataloging, marketing, training and other programs in the automotive aftermarket. The Automotive Parts Group is working to develop additional channels of distribution through two separate, but coordinated, e-commerce initiatives in business-to-consumer and business-to-business markets. During 1995,2000, the Company's Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores ("auto parts stores" or "NAPA Auto PartsAUTO PARTS stores") owned in the United States by Genuine Parts Company; automotive parts distribution centers and auto parts stores in western Canada owned and operated by UAP/NAPA Automotive Western Partnership ("UAP/NAPA"),UAP, a general partnership in which a wholly owned subsidiary of Genuine Parts Company owns a 49% interest;wholly-owned subsidiary; auto parts stores in the United States operated by corporations in which Genuine Parts Company owned either a 51% or a 70% interest; distribution centers owned by Balkamp, Inc., a majority-owned subsidiary; rebuilding plants owned by the Company and operated by its Rayloc division; distribution centers of ACDelco, Motorcraft and other automotive supplies owned and operated by Johnson Industries, a wholly-owned subsidiary; and automotive parts distribution centers and autoautomotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. ("Auto Todo"), a joint venture company in which a wholly ownedwholly-owned subsidiary of Genuine Parts Company owns a 49%73% interest. In 2000, Johnson Industries acquired Dealer Parts Service, a single branch distribution center in Pennsylvania, as well as two California distributors of ACDelco and Motorcraft parts. In January 2000, the Company purchased a 15% interest in Mitchell Repair Information ("MRIC"), a subsidiary of Snap-on Incorporated. MRIC is a leading diagnostic and repair information company with over 35,000 North American subscribers linked to its services and information databases. MRIC's core product, "Mitchell ON-DEMAND", is a premier electronic repair information source in the automotive aftermarket. The Company's NAPA automotive parts distribution centers distribute replacement parts (other than body parts) for substantially all motor vehicle makes and models in service in the United States, including imported vehicles, trucks, buses, motorcycles, recreational vehicles and farm vehicles. In addition, the Company distributes small engines and replacement parts for farm equipment and heavy duty equipment. The Company's inventories also include accessory items for such vehicles and equipment, and supply items used by a wide variety of customers in the automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns and individuals who perform their own maintenance and parts installation. Although the Company's domestic automotive operations purchase from more than 150 different suppliers, approximately 76%57% of 19952000 automotive inventories were purchased from 2010 major suppliers. Since 1931, the Company has had return privileges with most of its suppliers, which has protected the Company from inventory obsolescence. Distribution System.DISTRIBUTION SYSTEM. In 1995,2000, Genuine Parts Company operated 6461 domestic NAPA automotive parts distribution centers located in 38 states and 740approximately 800 domestic company-owned NAPA Auto PartsAUTO PARTS stores located in 43 states. In August 1995, the Company's operations at the NAPA Normal, Illinois, Distribution Center were consolidated into the NAPA Chicago Distribution Center in Naperville, Illinois. The Normal facility was closed. In addition, atAt December 31, 1995,2000, Genuine Parts Company owned a 51% interest in 6154 corporations and a 70% interest in 11 corporations, which operated 83107 auto parts stores in 2930 states. In Canada, Genuine Parts Company Ltd.,-3- 4 UAP, founded in 1926, is a wholly-owned subsidiary, owns a 49% interest in UAP/NAPA which operated 9 automotive parts distribution centers and 115 auto parts stores located in the provinces of Alberta, British Columbia, Manitoba and Saskatchewan and in the Yukon Territories. In addition, the Company has an approximate 23% interest in UAP Inc., a publicly traded Canadian corporation, which owns the other 51% interest in UAP/NAPA and further engagesleader in the distribution, marketing, and rebuilding of automotivereplacement parts primarilyand accessories for automobiles and trucks. UAP has annual sales of approximately $742 million Canadian ($500 million US) and employs approximately 4,640 people. UAP operates a network of 15 distribution centers supplying approximately 619 UAP/NAPA auto parts and 52 TRACTION wholesalers. These include approximately 221 company owned stores, 37 joint venture or progressive owners in easternwhich UAP owns a 50% interest, and approximately 413 independently owned stores. UAP supplies bannered installers and independent installers in all provinces of Canada, as well as networks of service stations and repair shops operating under the banners of national accounts. UAP is licensed to and uses the NAPA(R) name in Canada. In Mexico, Auto Todo owns and operates 1210 distribution centers and 2718 auto parts stores. Auto Todo is not licensed to and does not useuses the NAPA(R) name in Mexico. The Company's investments in UAP/NAPA and Auto Todo are accounted for by the equity method of accounting. The Company's distribution centers serve approximately 5,000 independently -3- 4 owned NAPA Auto PartsAUTO PARTS stores located throughout the market areas served. NAPA Auto PartsAUTO PARTS stores, in turn, sell to a wide variety of customers in the automotive aftermarket. Collectively, these autoindependent automotive parts stores account for approximately 39%25% of the Company's total sales with no autoautomotive parts store or group of autoautomotive parts stores with individual or common ownership accounting for more than .4%0.5% of the total sales of the Company. Products.PRODUCTS. Distribution centers carry approximately 165,000have access to over 250,000 different parts and related supply items. Each item is cataloged and numbered for identification and accessibility. Significant inventories are carried to provide for fast and frequent deliveries to customers. Most orders are filled and shipped the same day as received. The majority of sales are on terms which require payment within 30 days of the statement date. The Company does not manufacture any of the products it distributes. The majority of products are distributed under the NAPA(R) name, a mark licensed to the Company by the National Automotive Parts Association. Related Operations.NAPA. RELATED OPERATIONS. A majority-owned subsidiary of Genuine Parts Company, Balkamp, Inc.("Balkamp"), distributes a wide variety of replacement parts and accessory items for passenger cars, heavy duty vehicles, motorcycles and farm equipment. In addition, Balkamp distributes service items such as testing equipment, lubricating equipment, gauges, cleaning supplies, chemicals and supply items used by repair shops, fleets, farms and institutions. Balkamp packages many of the approximately 20,00024,000 part numbers which constitute the "Balkamp" line of products which are distributed to the members of the National Automotive Parts Association ("NAPA").NAPA. These products are categorized in 150160 different product groups purchased from more than 600 suppliers. All400 domestic suppliers and 130 foreign manufacturers. In addition to the Balkamp itemsline of products, Balkamp distributes approximately 100 part numbers of nationally branded consumer appearance products and oils through their Automotive Redistribution Center. These products are cataloged separately to provide single sourcefor convenience for NAPA customers. BALKAMP(R), a federally registered trademark, owned by NAPA and licensed to Balkamp, is important to the sales and marketing promotions of the Balkamp organization. Balkamp has threefour distribution centers located in Indianapolis and Plainfield, Indiana, Greenwood, Mississippi, and West Jordan, Utah. Johnson Industries ("Johnson"), a wholly-owned subsidiary of the Company, is an independent distributor of ACDelco, Motorcraft and other automotive supplies. Johnson, founded in 1924, sells primarily to large fleets and new car dealers as well as providing ACDelco products to NAPA members. Johnson has 11 distribution centers throughout the U.S. The Company, through its Rayloc division, also operates six plants where certain small automotive parts are rebuilt. These products are distributed to the members of NAPA under the name Rayloc(R).NAPA brand name. Rayloc(R) is a mark licensed to the Company by the NAPA. Segment Data.SEGMENT DATA. In the year ended December 31, 1995,2000, sales from the Automotive Parts Group approximated 53%50% of the Company's net sales as compared to 56%51% in 19941999 and 57%49% in 1993. Service to1998. SERVICE TO NAPA Auto Parts Stores.AUTO PARTS STORES. The Company believes that the quality and the range of services provided to its autoautomotive parts customers constitute a significant part of its automotive parts distribution -4- 5 system. Such services include fast and frequent delivery, obsolescence protection, parts cataloging (including the use of computerized NAPA Auto Parts catalogues)AUTO PARTS catalogs) and stock adjustment through a continuing parts classification system which allows auto parts customers to return certain merchandise on a scheduled basis. The Company offers its NAPA Auto PartsAUTO PARTS store customers various management aids, marketing aids and service on topics such as inventory control, cost analysis, accounting procedures, group insurance and retirement benefit plans, marketing conferences and seminars, sales and advertising manuals and training programs. Point of sale/inventory management is available through TAMS(R) (Total Automotive Management Systems), a computer system designed and developed by the Company for the NAPA Auto PartsAUTO PARTS store. In association with NAPA, the Company has developed and refined an inventory classification system to determine optimum distribution center and auto parts store inventory levels for automotive parts stocking based on automotive registrations, usage rates, production figures,statistics, technological advances and other similar factors. This system, which undergoes continuous analytical review, is an integral part of the Company's inventory control procedures and comprises an important feature of the inventory management services which the Company makes available to its NAPA Auto PartsAUTO PARTS store customers. Over the last 10 years, losses -4- 5 to the Company from obsolescence have been insignificant, and the Company attributes this to the successful operation of its classification system which involves product return privileges with most of its suppliers. Competition.COMPETITION. In the distribution of automotive parts, the Company competes with automobile manufacturers (some of which sell replacement parts for vehicles built by other manufacturers as well as those which they build themselves), automobile dealers, warehouse clubs and large automotive parts retail chains. In addition, the Company competes with the distributing outlets of parts manufacturers, oil companies, mass merchandisers, including national retail chains, and with other parts distributors and jobbers. NAPA. The Company is a member of the National Automotive Parts Association, a voluntary association formed in 1925 to provide nationwide distribution of automotive replacement parts. NAPA, which neither buys nor sells automotive parts, functions as a trade association whose members currently operate 72in 2000 operated 68 distribution centers located throughout the United States, 6361 of which arewere owned and operated by the Company. NAPA develops marketing concepts and programs whichthat may be used by its members. It is not involved in the chain of distribution. Among the automotive lines whichthat each NAPA member purchases and distributes are certain lines designated, cataloged, advertised and promoted as "NAPA" lines. The members are not required to purchase any specific quantity of parts so designated and may, and do, purchase competitive lines from other supply sources. The Company and the other NAPA members use the federally registered trademark NAPA(R) as part of the trade name of their distribution centers and jobbing stores. The Company contributes to NAPA's national advertising program, which is designed to increase public recognition of the "NAPA"NAPA name and to promote "NAPA"NAPA product lines. The Company is a party, together with other members of NAPA and NAPA itself, to a consent decree entered by the Federal District Court in Detroit, Michigan, on May 4, 1954. The consent decree enjoins certain practices under the federal antitrust laws, including the use of exclusive agreements with manufacturers of automotive parts, allocation or division of territories among several NAPA members, fixing of prices or terms of sale for such parts among such members, and agreements to adhere to any uniform policy in selecting parts customers or determining the number and location of, or arrangements with, auto parts customers. -5- 6 INDUSTRIAL PARTS GROUPGROUP. The Industrial Parts Group distributes industrial replacement parts and related supplies.supplies throughout the United States, Canada and Mexico. This Group distributes industrial bearings and fluidpower transmission equipment replacement parts, including hydraulic and pneumatic products, material handling components, agricultural and irrigation equipment and their related supplies. The Group is continuing to enhance their internet-based procurement solutions. In 1995,2000, the Company distributed industrial parts in the United States through Motion Industries, Inc. ("Motion"), headquartered in Birmingham, Alabama, and Berry Bearing Company ("Berry Bearing"), headquartered in Chicago, Illinois.Alabama. Motion and Berry Bearing are wholly owned subsidiariesis a wholly-owned subsidiary of the Genuine Parts Company. In Canada, industrial parts are distributed by another of Motion's operating divisions, Motion Industries (Canada), Inc. ["Motion (Canada)"], comprised of the former Oliver Industrial Supply Ltd. and Premier Industrial Division of UAP Inc., a wholly owned subsidiaryCHV Hydraulics, Lou's Bearings and Transmissions, B. G. S. Bearings and Equipment Ltd., and MBS Bearings Services, all wholly-owned subsidiaries of Genuine Parts Holdings Ltd., headquartered in Lethbridge, Alberta. Genuine Parts Holdings Ltd.which is a wholly ownedwholly-owned subsidiary of the Company. On June 9, 1995, September 30, 1995,Motion (Canada)'s service area includes seven provinces of Alberta, British Columbia, Manitoba, Newfoundland, Ontario, Quebec, and October 31, 1995 the Company completed the acquisitions of Midcap Bearing Corporation, Power Drives & Bearings, Inc., and Atlantic/Tracy, Inc., respectively. Midcap Bearing Corporation is a distributor of bearings and mechanical, electrical and fluid power components headquartered in San Antonio, Texas, and the operator of 17 branches in Texas and New Mexico. Power Drives & Bearings, Inc. is headquartered in Omaha, Nebraska, and operates 6 branches. Atlantic/Tracy, Inc. is headquartered in Somerville, Massachusetts, and operates 11 branches. All three companies distribute products similar to thoseSaskatchewan. In Mexico, industrial parts are distributed by the Company's Industrial Parts Group and all three companies have been merged into the -5- 6 Company'sanother operating division, Motion Industries Inc. subsidiary.(Mexico) ["Motion (Mexico)"], through a joint venture with power transmission specialist Refacciones Industriales de Mexico (RIMSA). Motion (Mexico) serves the market through seven locations in five major Mexican cities. In 2000 the Industrial Group expanded its Canadian operations through the acquisition of MBS Bearing Services, with 29 operations in Eastern Ontario, Quebec, the Maritimes and a subsidiary in Plattsburgh, New York. As a result, Motion Canada offers a national footprint, increased operational efficiencies, and access to over 2 million parts for an unprecedented level of customer service in Canada. The acquisition of Staley Supply, located in Delmar, Maryland, provided additional exposure to the poultry industry as well as broadened customer support for the northeastern United States customer base. Additionally, Motion Industries opened 19 new branch locations and added 30 locations to its North American network through acquisition. As of December 31, 1995,2000, the Group served more than 150,000165,000 customers in all types of industries located throughout the United States, Mexico and in Canada, principally in the Provinces of Alberta, ManitobaCanada. DISTRIBUTION SYSTEM. In North and Saskatchewan. Distribution System. In the United States,South America, the Industrial Parts Group operates 5509 locations including: eight distribution centers, twothree re-distribution centers, 10and 52 service centers for fluid power, electrical and special hose applications and over 370 branches. Distributionapplications. The distribution centers stock and distribute more than 200,000 different items purchased from overmore than 250 different suppliers. The Group's re-distribution centers serve as collection points for excess inventory collected from its branches for re- distributionre-distribution to those branches whichthat need the inventory. Approximately 50%64% of 19952000 total industrial purchases were made from 1510 major suppliers. Sales are generated from the Group's branches located in 4347 states each of whichand nine provinces in Canada, and five cities in Mexico. Each branch has warehouse facilities whichthat stock significant amounts of inventory representative of the lines of products used by customers in the respective market area served. In Canada, Oliver Industrial Supply Ltd. ("Oliver")Motion (Canada) operates an industrial parts and agricultural supply distribution center for its seven branchesthe 64 Canadian locations serving the industrial and agricultural markets of Alberta, British Columbia, Manitoba and Saskatchewan in western Canada. In addition to industrial parts and agricultural supplies, Olivermarkets. Motion (Canada) also distributes irrigation systems and related supplies. Products.PRODUCTS. The Industrial Parts Group distributes a wide variety of products to its customers, primarily industrial concerns, to maintain and operate plants, machinery and equipment. Products include such items as hoses, belts, bearings, pulleys, pumps, valves, chains, gears, sprockets, speed reducers and electric motors. The nature of this Group's business demands the maintenance of large inventories and the ability to provide prompt and demanding delivery requirements. Virtually all of the products distributed are installed by the customer. Most orders are filled immediately from existing stock and deliveries are normally made within 24 hours of receipt of order. The majority of all sales are on open account. Related Information.RELATED INFORMATION. Non-exclusive distributor agreements are in effect with most of the Group's suppliers. The terms of these agreements vary; however, it has been the experience of the Group that the custom of the -6- 7 trade is to treat such agreements as continuing until breached by one party, or until terminated by mutual consent. Segment Data.INTEGRATED SUPPLY. Motion's integrated supply solutions continued to gain momentum in 2000. Motion's integrated supply process not only reduces the costs associated with MRO (Maintenance, Repair and Operation) inventory management, but also enables the manufacturing customer to focus on its core competency, free working capital associated with inventories, improve service levels to end-users, and allow management to focus on more strategic concerns. Motion's integrated supply process analyzes a customer's current operation to develop integration goals and then provides solutions based on industry's accepted best practices. SEGMENT DATA. In the year ended December 31, 1995,2000, sales from the Company's Industrial Parts Group approximated 29%28% of the Company's net sales as compared to 27% in 19941999 and 26%31% in 1993. Competition.1998. COMPETITION. The Industrial Parts Group competes with other distributors specializing in the distribution of such items, as well as with general line distributors.distributors and others who have developed or joined integrated supply programs. To a lesser extent, the Group competes with manufacturers that sell directly to the customer. OFFICE PRODUCTS GROUPGROUP. The Office Products Group, operated through S. P. Richards Company ("S.P.S. P. Richards"), a wholly ownedwholly-owned subsidiary of Genuine Partsthe Company, is headquartered in Atlanta, Georgia,Georgia. S. P. Richards is engaged in the wholesale distribution of a broad line of office and other products which are used in the daily operation of businesses, schools, offices and institutions. Office products fall into the general categories of computer supplies, imaging supplies, office machines, general office supplies, janitorial supplies, breakroom supplies, and office furniture. Lesker Office Furniture, a furniture only wholesaler acquired in 1993, operates from 5 branches in the Northeast. In 1995, a new Lesker branch was opened in New England. On May 22, 1995, the Company completed the acquisition of Horizon USA Data Supplies, Inc. Horizon USA Data Supplies, Inc., acquired by the Company in 1995, is a computer supplies distributor headquartered in Reno, -6- 7 NevadaNevada. The Office Products Group is developing several web-based products to benefit resellers, manufacturers and consumers. In August 1998, the Company completed the purchase of the Canada based Norwestra Sales (1992), Inc. ("Norwestra"). With its headquarters near Vancouver, British Columbia, Norwestra services office product resellers throughout Western Canada. During 1999, the Company opened a second Norwestra branch in Toronto, Canada. In 2000, Norwestra acquired Transwest Distributors, a furniture wholesaler headquartered in Vancouver, with three locations.warehouses in Calgary and Winnipeg. The Office Products Group distributes computer supplies including diskettes, printer supplies, printout paper and printout binders; office furniture to include desks, credenzas, chairs, chair mats, partitions, files and computer furniture; office machines to include telephones, answering machines, calculators, typewriters, shredders and copiers; and general office supplies to include copier supplies, desk accessories, business forms, accounting supplies, binders, report covers, writing instruments, note pads, envelopes, secretarial supplies, mailroom supplies, filing supplies, art/drafting supplies, janitorial supplies, breakroom supplies and audio visual supplies. The Office Products Group distributes more than 20,00030,000 items to over 6,000 office supply dealers from 43 distribution centers44 facilities located in 30 states. The newest distribution center opened in 1995 in Pittsburgh, Pennsylvania.28 states and Canada. Approximately 53%50% of 19952000 total office products purchases were made from 1410 major suppliers. The Office Products Group sells to qualified resellers of office products. Customers are offered comprehensive marketing programs, which include flyers, other promotional material and personalized product catalogs. The marketing programs are supported by all the Group's distribution centers which stock all cataloged products and have the capability to provide overnight delivery. While many recognized brand-name items are carried in inventory, S. P. Richards Company also markets items produced for it under its own SPARCO(R) brand name, as well as its NATURE SAVER(R) brand of recycled products. Segment Data.-7- 8 products, Elite Image(TM) printer supplies, Brittannia brand of fashionable writing instruments, and CompuCessory(TM) brand of computer supplies and accessories. SEGMENT DATA. In the year ended December 31, 1995,2000, sales from the Company's Office Products Group approximated 18%16% of the Company's net sales as compared to 15% in 1999 and 17% in 1994 and in 1993. Competition.1998. COMPETITION. In the distribution of office supplies to retail dealers, S. P. Richards competes with many other wholesale distributors as well as with manufacturers of office products and large national retail chains. ELECTRICAL/ELECTRONIC MATERIALS GROUP. The Electrical/Electronic Materials Group was formed on July 1, 1998 through the acquisition of EIS, Inc. ("EIS"). This Group distributes materials for the manufacture and repair of electrical and electronic apparatus. With branch locations in 45 cities nationwide and in Mexico, this Group stocks over 100,000 items, from insulating and conductive materials to assembly tools and test equipment. This Group also has three manufacturing facilities that provide custom fabricated parts and one manufacturing plant that produces printed circuit board drillroom products. The Electrical/Electronic Materials Group is an important single source to original equipment manufacturers, repair shops, the electronic assembly market, and printed circuit board manufacturers. In 2000, the Company distributed electrical materials through EIS, headquartered in Atlanta, Georgia. Electronic materials were distributed through EIS's operating divisions, Com-Kyl and Circuit Supply. Both electrical and electronic products are distributed from warehouse locations in major user markets throughout the U.S. PRODUCTS. The Electrical/Electronic Materials Group distributes a wide variety of products to customers from over 400 vendors. Products include such items as magnet wire, copper clad laminate, conductive materials, insulating and shielding materials, assembly tools, test equipment, adhesives and chemicals, pressure sensitive tapes, solder, anti-static products, and thermal management products. To meet the prompt delivery demands of its customers, this Group maintains large inventories. The majority of sales are on open account. Approximately 50% of 2000 total Electrical/Electronic Materials Group purchases were made from 25 major suppliers. INTERNET. The Electrical/Electronic Materials Group actively utilizes its E-commerce Internet site to present its products to customers, while allowing these on-line visitors to conveniently purchase from a large product assortment. This strategic E-commerce program, which is currently focused on the electronic assembly market, provides a fully integrated business system solution in support of this new sales channel. EIS plans to leverage this system to deploy web-based storefronts for the other markets it services. INTEGRATED SUPPLY. The Electrical/Electronic Materials Group's integrated supply programs are a part of the marketing strategy, as a greater number of customers--especially national accounts--are given the opportunity to participate in this low-cost, high-service capability. The Group developed AIMS (Advanced Inventory Management System), a totally integrated, highly automated solution for inventory management. This year SupplyPro will be added to the Group's Integrated Supply offering. SupplyPro is an electronic vending dispenser used to eliminate costly tool crib, or in-house stores, at customer warehouse facilities. SEGMENT DATA. In the year ended December 31, 2000 sales from the Company's Electrical/Electronic Materials Group approximated 6% of the Company's sales, as compared to 7% in 1999. COMPETITION. The Electrical/Electronic Materials Group competes with other distributors specializing in the distribution of electrical and electronic products, general line distributors, and, to a lesser extent, manufacturers that sell directly to customers. * * * * * * * * Executive Officers of the Company.* * -8- 9 EXECUTIVE OFFICERS OF THE COMPANY. The table below sets forth the name and age of each person deemed to be an executive officer of the Company as of February 19, 1996,8, 2001, the position or office held by each and the period during which each has served as such. Each executive officer is elected by the Board of Directors and serves at the pleasure of the Board of Directors until his successor has been elected and has qualified, or until his earlier death, resignation, removal, retirement or disqualification.
Year First Assumed Name Age Position of Office PositionYEAR FIRST ASSUMED NAME AGE POSITION OF OFFICE POSITION - ----------------------- --- -------------------------------------- ------------------ ---------- Larry L. Prince 5762 Chairman of the Board of Directors and 1990/1989 Chief Executive Officer 1990/1989 Thomas C. Gallagher 4853 President and Chief Operating Officer 1990 George W. Kalafut 62 Executive Vice President-Finance and Administration * 1991 John J. Scalley 6566 Executive Vice President 1986 Keith M. Bealmear 49 Group1991 Jerry W. Nix 55 Executive Vice President 1994 Robert J. Breci 60 Group- Finance * 2000 Edward Van Stedum 51 Senior Vice President 1987 Albert T. Donnon, Jr 48 Group Vice President 1993 Louis W. Rice, Jr 69 Senior Vice President-Personnel 1981- Human Resources 1996
* Also serves as the Company's Principal Financial and Accounting Officer. All executive officers have been employed by and have served as officers of the Company for at least the last five years. -7- 8 ITEM 2. PROPERTIES. The Company's headquarters are located in one of two adjacent office buildings owned by Genuine Parts Company in Atlanta, Georgia. The Company's Automotive Parts Group currently operates 6361 NAPA Distribution Centers in the United States distributed among nineeight geographic divisions. More thanApproximately 90% of the distribution center properties are owned by the Company. At December 31, 1995,2000, the Company owned 740operated approximately 800 NAPA Auto PartsAUTO PARTS stores located in 43 states, and Genuine Partsthe Company owned either a 51% or 70% interest in 83107 additional auto parts stores located in 2930 states. Other than NAPA Auto PartsAUTO PARTS stores located within Company owned distribution centers, most of the autoautomotive parts stores in which the Company has an ownership interest were operated in leased facilities. In addition, UAP/NAPA, in which Genuine Parts Company owns a 49% interest,UAP operated 115 auto15 distribution centers and approximately 258 automotive parts and TRACTION stores in Western Canada. The Company's Automotive Parts Group also operates threefour Balkamp distribution centers, six Rayloc rebuilding plants, twoone transfer and shipping facilitiesfacility, and a Rayloc warehouse.eleven Johnson Industries distribution centers. The Company's Industrial Parts Group, operating through Motion, Motion (Canada) and Berry Bearing Company,Motion (Mexico), operates 58 distribution centers, 2 re-distribution3 redistribution centers, 1052 service centers and over 370446 branches. Approximately 80%90% of these branches are operated in leased facilities. In addition, the Industrial Parts Group operates an industrial parts and agricultural supply distribution center in Western Canada for its 7 branches of which approximately 85% are operated in leased facilities. The Company's Office Products Group operates 43 distribution centers40 facilities in the United States and 4 facilities in Canada distributed among the Group's sixfive geographic divisions. Approximately 75% of these distribution centersfacilities are operated in leased facilities.buildings. The Company's Electrical/Electronic Materials Group operates in 38 cities in the United States and 2 cities in Mexico. All of this Group's 45 facilities are operated in leased buildings except three facilities, which are owned. For additional information regarding rental expense on leased properties, see "Note 45 of Notes to Consolidated Financial Statements" on Page 2426 of the Company's Annual Report to Shareholders for 1995.the year ended December 31, 2000. ITEM 3. LEGAL PROCEEDINGS. Not Applicable.applicable. -9- 10 ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. Not Applicable.applicable. PART II. ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCK- HOLDERSTOCKHOLDER MATTERS. Information required by this item is set forth under the heading "Market and Dividend Information" on Page 1816 of the Company's Annual Report to Shareholders for the year ended December 31, 1995,2000, and is incorporated herein by reference. The Company has made no unregistered sales of securities during the year ended December 31, 2000. ITEM 6. SELECTED FINANCIAL DATA. Information required by this item is set forth under the heading "Selected Financial Data" on Page 1816 of the Company's Annual Report to Shareholders for the year ended December 31, 1995,2000, and is incorporated herein by reference. -8- 9 ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS.ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. Information required by this item is set forth under the heading "Management's Discussion and Analysis" on Page 26Pages 18 and 19 of the Company's Annual Report to Shareholders for the year ended December 31, 1995,2000, and is incorporated herein by reference. ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. The information presented under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations" on Pages 18 and 19 and presented under "Note 3 - Credit Facilities" on Pages 25 and 26 of the Company's Annual Report to Shareholders for the year ended December 31, 2000, and is incorporated herein by reference. ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. Information required by this item is set forth in the consolidated financial statements on Pages 2017 and 21 through 25 and Page 27,29, in "Report of Independent Auditors" on Page 19,20, and under the heading "Quarterly Results of Operations" on Page 26,19, of the Company's Annual Report to Shareholders for the year ended December 31, 1995,2000, and is incorporated herein by reference. ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE. Not Applicable.applicable. PART III. ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT. Information required by this item is set forth under the headings "Nominees for Director" and "Members of the Board of Directors Continuing in Office" on Pages 2 through 4 of the definitive proxy statement for the Company's Annual Meeting to be held on April 15, 1996,16, 2001, and is incorporated herein by reference. Certain information about Executive Officers of the Company is included in Item 1 of Part I of this Annual Report on Form 10-K. -10- 11 ITEM 11. EXECUTIVE COMPENSATION. Information required by this item is set forth under the heading "Executive Compensation and Other Benefits" on Pages 68 through 8,10, and under the headings "Compensation Committee Interlocks and Insider Participation", "Compensation Pursuant to Plans" and "Termination of Employment and Change of Control Arrangements" on Pages 1113 through 1416 of the definitive proxy statement for the Company's Annual Meeting to be held on April 15, 1996,16, 2001, and is incorporated herein by reference. In no event shall the information contained in the definitive proxy statement for the Company's 19962001 Annual Meeting on Pages 910 through 1112 under the heading "Compensation and Stock Option Committee Report on Executive Compensation" or on Pages 1517 and 1618 under the heading "Performance Graph" be incorporated herein by reference. ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT. Information required by this item is set forth under the headings "Common Stock Ownership of Certain Beneficial Owners" and "Common Stock Ownership of Management" on Pages 4, 5 and 6through 8 of the definitive proxy statement for the Company's Annual Meeting to be held on April 15, 1996,16, 2001, and is incorporated herein by reference. ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS. Information required by this item is set forth under the heading "Certain Relationships and Related Transactions" on Page 1619 of the definitive proxy statement for the Company's 2001 Annual Meeting to be held on April 15, 1996, -9- 1016, 2001, and is incorporated herein by reference. PART IV. ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K. (a) (1) and (2) The response to this portion of Item 14 is submitted as a separate section of this report. (3) The following Exhibits are filed as part of this report in Item 14(c): Exhibit 3.1 Restated Articles of Incorporation of the Company, dated as of April 18, 1988, and as amended April 17, 1989 and amendments to the Restated Articles of Incorporation of the Company, dated as of November 20, 1989 and April 18, 1994. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 3, 1995). Exhibit 3.2 By-laws of the Company, as amended. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 5, 1993). Exhibit 4.1 Shareholder Protection Rights Agreement, dated as of November 20, 1989, between the Company and Trust Company Bank, as Rights Agent. (Incorporated herein by reference from the Company's Report on Form 8-K, dated November 20, 1989). Exhibit 4.2 Specimen Common Stock Certificate. (Incorporated herein by reference from the Company's Registration Statement on Form S-1, Registration No. 33- 63874). Exhibit 10.1 * 1988 Stock Option Plan. (Incorporated herein by reference from the Company's Annual Meeting Proxy Statement, dated March 9, 1988). Exhibit 10.2 * Form of Amendment to Deferred Compensation Agreement, adopted February 13, 1989, between the Company and certain executive officers of the Company. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 15, 1989). Exhibit 10.3 * Form of Agreement adopted February 13, 1989, between the Company and certain executive officers of the Company providing for a supplemental employee benefit upon a change in control of the Company. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 15, 1989). Exhibit 10.4 *(a) (1) and (2) The response to this portion of Item 14 is submitted as a separate section of this report. (3) The following Exhibits are filed as part of this report in Item 14(c): Exhibit 3.1 Restated Articles of Incorporation of the Company, dated as of April 18, 1998, and as amended April 17, 1989 and amendments to the Restated Articles of Incorporation of the Company, dated as of November 20, 1989 and April 18, 1994. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 3, 1995.) Exhibit 3.2 By-laws of the Company, as amended February 19, 2001. Exhibit 4.1 Shareholder Protection Rights Agreement, dated as of November 15, 1999, between the Company and SunTrust Bank, Atlanta, as Rights Agent. (Incorporated herein by reference from the Company's Report on Form 8-K, dated November 15, 1999.) Exhibit 4.2 Specimen Common Stock Certificate. (Incorporated herein by reference from the Company's Registration Statement on Form S-1, Registration No. 33-63874.) Instruments with respect to long-term debt where the total amount of securities authorized thereunder does not exceed 10% of the total assets of the Registrant and its subsidiaries on a consolidated basis have not been filed. The Registrant agrees to furnish to the Commission a copy of each such instrument upon request. -11- 12 Exhibit 10.1* 1988 Stock Option Plan. (Incorporated herein by reference from the Company's Annual Meeting Proxy Statement, dated March 9, 1988.) Exhibit 10.2* Form of Amendment to Deferred Compensation Agreement, adopted February 13, 1989, between the Company and certain executive officers of the Company. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 15, 1989.) Exhibit 10.3* Form of Agreement adopted February 13, 1989, between the Company and certain executive officers of the Company providing for a supplemental employee benefit upon a change in control of the Company. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 15, 1989.) Exhibit 10.4* Genuine Parts Company Supplemental Retirement Plan, effective January 1, 1991. (Incorporated herein by reference from the
-10-Company's Annual Report on Form 10-K, dated March 8, 1991.) Exhibit 10.5* 1992 Stock Option and Incentive Plan, effective April 20, 1992. (Incorporated herein by reference from the Company's Annual Meeting Proxy Statement, dated March 6, 1992.) Exhibit 10.6* Restricted Stock Agreement dated March 31, 1994, between the Company and Larry L. Prince. (Incorporated herein by reference from the Company's Form 10-Q, dated May 6, 1994.) Exhibit 10.7* Restricted Stock Agreement dated March 31, 1994, between the Company and Thomas C. Gallagher. (Incorporated herein by reference from the Company's Form 10-Q, dated May 6, 1994.) Exhibit 10.8* The Genuine Parts Company Restated Tax-Deferred Savings Plan, effective January 1, 1993. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 3, 1995.) Exhibit 10.9* Amendment No. 2 to the Genuine Parts Company Supplemental Retirement Plan, effective January 1, 1995. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 3, 1995.) Exhibit 10.10* Genuine Partnership Plan, as amended and restated January 1, 1994. (Incorporated herein by reference form the Company's Annual Report on Form 10-K, dated March 3, 1995.) Exhibit 10.11* Genuine Parts Company Pension Plan, as amended and restated effective January 1, 1989. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 3, 1995.) Exhibit 10.12* Amendment No. 1 to the Genuine Partnership Plan, effective September 1, 1995. (Incorporated herein by reference to the Company's Form 10-K, dated March 7, 1996.) Exhibit 10.13* Amendment No. 1 to the Genuine Parts Company Pension Plan, effective April 1, 1995. (Incorporated herein by reference to the Company's Form 10-K, dated March 7, 1996.) -12- 13 Exhibit 10.14* Amendment No. 2 to the Genuine Parts Company Pension Plan, dated September 28, 1995, effective January 1, 1995. (Incorporated herein by reference to the Company's Form 10-K, dated March 7, 1996.) Exhibit 10.15* Genuine Parts Company Directors' Deferred Compensation Plan, effective November 1, 1996. (Incorporated herein by reference to the Company's Form 10-K, dated March 10, 1997.) Exhibit 10.16* Amendment No. 3 to the Genuine Parts Company Pension Plan dated May 24, 1996, effective January 1, 1996. (Incorporated herein by reference to the Company's Form 10-K, dated March 10, 1997.) Exhibit 10.17* Amendment No. 4 to the Genuine Parts Company Pension Plan dated December 3, 1996, effective January 1, 1996. (Incorporated herein by reference to the Company's Form 10-K, dated March 10, 1997.) Exhibit 10.18* Amendment No. 2 to the Genuine Partnership Plan, dated December 3, 1996, effective November 1, 1996. (Incorporated herein by reference to the Company's Form 10-K, dated March 10, 1997.) Exhibit 10.19* Amendment No. 4-A to the Genuine Parts Company Pension Plan, dated August 29, 1997, effective January 1, 1996. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 10, 1998.) Exhibit 10.20* Amendment No. 5 to the Genuine Parts Company Pension Plan, dated August 7, 1997. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 10, 1998.) Exhibit 10.21* Amendment No. 6 to the Genuine Parts Company Pension Plan, dated October 6, 1997, effective January 1, 1997. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 10, 1998.) Exhibit 10.22* Amendment No. 3 to the Genuine Partnership Plan, dated August 7, 1997. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 10, 1998.) Exhibit 10.23* Amendment No. 3 to the Genuine Parts Company Supplemental Retirement Plan, dated August 29, 1997, effective August 15, 1997. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 10, 1998.) Exhibit 10.24* Genuine Parts Company Death Benefit Plan, effective July 15, 1997. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 10, 1998.) Exhibit 10.25* Amendment No. 4 to the Genuine Partnership Plan, dated August 19, 1998, effective January 1, 1998. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 10, 1999.) Exhibit 10.26* Amendment No. 5 to the Genuine Partnership Plan, dated December 7, 1998, effective January 1, 1999. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 10, 1999.) -13- 14 Exhibit 10.27* Amendment No. 6 to the Genuine Partnership Plan, dated December 7, 1998, effective January 1, 1994. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 10, 1999.) Exhibit 10.28* Amendment No. 7 to the Genuine Parts Company Pension Plan, dated August 19, 1998, effective January 1, 1998. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 10, 1999.) Exhibit 10.29* Genuine Parts Company 1999 Long-Term Incentive Plan. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 10, 1999.) Exhibit 10.30* Genuine Parts Company 1999 Annual Incentive Bonus Plan, effective April 19, 1995. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 10, 1999.) Exhibit 10.31* Restricted Stock Agreement dated February 25, 1999, between the Company and Larry L. Prince. (Incorporated herein by reference from the Company's Form 10-Q, dated May 3, 1999.) Exhibit 10.32* Restricted Stock Agreement dated February 25, 1999, between the Company and Thomas C. Gallagher. (Incorporated herein by reference from the Company's Form 10-Q, dated May 3, 1999.) Exhibit 10.33* Amendment No. 8 to the Genuine Parts Company Pension Plan, dated January 26, 1999, effective September 30, 1998. (Incorporated herein by reference from the Company's Form 10-K dated March 10, 2000.) Exhibit 10.34* Amendment No. 9 to the Genuine Parts Company Pension Plan, dated December 30, 1999, effective January 1, 1989; December 31, 1999; and January 1, 2000. (Incorporated herein by reference from the Company's Form 10-K dated March 10, 2000.) Exhibit 10.35* Amendment to the Genuine Parts Company 1992 Stock Option and Incentive Plan, dated April 19, 1999, effective April 19, 1999. (Incorporated herein by reference from the Company's Form 10-K dated March 10, 2000.) Exhibit 10.36* Amendment to the Genuine Parts Company Tax-Deferred Savings Plan, dated April 19, 1999, effective April 19, 1999. (Incorporated herein by reference from the Company's Form 10-K dated March 10, 2000.) Exhibit 10.37* Amendment to the Genuine Parts Company Original Deferred Compensation Plan, dated April 19, 1999, effective April 19, 1999. (Incorporated herein by reference from the Company's Form 10-K dated March 10, 2000.) Exhibit 10.38* Amendment to the Genuine Parts Company Directors' Deferred Compensation Plan, dated April 19, 1999, effective April 19, 1999. (Incorporated herein by reference from the Company's Form 10-K dated March 10, 2000.) Exhibit 10.39* Amendment to the Genuine Parts Company Supplemental Retirement Plan, dated April 19, 1999, effective April 19, 1999. (Incorporated herein by reference from the Company's Form 10-K dated March 10, 2000.) Exhibit 10.40* Amendment No. 7 to the Genuine Partnership Plan, dated January 26, 1999, effective January 1, 1999. (Incorporated herein by reference from the Company's Form 10-K dated March 10, 2000.) Exhibit 10.41* Amendment No. 8 to the Genuine Partnership Plan, dated February 4, 1999, effective January 1, 1999. (Incorporated herein by reference from the Company's Form 10-K dated March 10, 2000.) Exhibit 10.42* Amendment No. 9 to the Genuine Partnership Plan, dated April 5, 1999, effective April 1, 1999. (Incorporated herein by reference from the Company's Form 10-K dated March 10, 2000.) -14- 15 Exhibit 10.43* Amendment No. 10 to the Genuine Partnership Plan, dated December 30, 1999, effective November 30, 1999. (Incorporated herein by reference from the Company's Form 10-K dated March 10, 2000.) Exhibit 10.44* Amendment No. 11 Company's Annual Report on Form 10-K, dated March 8, 1991). Exhibit 10.5 * 1992 Stock Option and Incentive Plan, effective April 20, 1992. (Incorporated herein by reference from the Company's Annual Meeting Proxy Statement, dated March 6, 1992). Exhibit 10.6 * Restricted Stock Agreement dated March 31, 1994, between the Company and Larry L. Prince. (Incorporated herein by reference from the Company's Form 10-Q, dated May 6, 1994). Exhibit 10.7 * Restricted Stock Agreement dated March 31, 1994, between the Company and Thomas C. Gallagher. (Incorporated herein by reference from the Company's Form 10-Q, dated May 6, 1994). Exhibit 10.8 * The Genuine Parts Company Restated Tax-Deferred Savings Plan, January 1, 1993. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 3, 1995). Exhibit 10.9 * Amendment No. 2 to the Genuine Parts Company Supplemental Retirement Plan, effective January 1, 1995. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 3, 1995). Exhibit 10.10 * Genuine Partnership Plan, as amended and restated January 1, 1994. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 3, 1995). Exhibit 10.11 * Genuine Parts Company Pension Plan, as amended and restated effective January 1, 1989. (Incorporated herein by reference from the Company's Annual Report on Form 10-K, dated March 3, 1995). Exhibit 10.12 * Amendment No. 1 to the Genuine Partnership Plan, effective September 1, 1995. Exhibit 10.13 * Amendment No. 1 to the Genuine Parts Company Pension Plan, effective April 1, 1995. Exhibit 10.14 * Amendment No. 2 to the Genuine Parts Company Pension Plan, dated September 28, 1995, effective January 1, 1995. * Indicates executive compensation plans and arrangements Exhibit 13 The following sections and pages of the 1995to the Genuine Partnership Plan, dated January 19, 2001, effective April 1, 2000. Exhibit 10.45* Amendment No. 12 to the Genuine Partnership Plan, dated January 19, 2001, effective December 29, 2000. * Indicates executive compensation plans and arrangements. Exhibit 13 The following sections and pages of the 2000 Annual Report to Shareholders:
-11- 12 - Selected Financial Data on Page 18 - Market and Dividend Information on Page 18 - Report of Independent Auditors on Page 19 - Consolidated Financial Statements and Notes to Consolidated Financial Statements on Pages 20-25 - Management's Discussion and Analysis on Page 26 - Quarterly Results of Operations on Page 26 - Industry Data on Page 27 Exhibit 21 Subsidiaries of the Company Exhibit 23 Consent of Independent Auditors Exhibit 27 Financial Data Schedule (for SEC use only) (b) Reports on Form 8-K. No reports on Form 8-K were filed by the Registrant during the last quarter of ------------------- the fiscal year.- Selected Financial Data on Page 16 - Market and Dividend Information on Page 16 - Management's Discussion and Analysis on Pages 18-19 - Quarterly Results of Operations on Page 19 - Segment Data on Page 17 - Report of Independent Auditors on Page 20 - Consolidated Financial Statements and Notes to Consolidated Financial Statements on Pages 21-29. Exhibit 21 Subsidiaries of the Company Exhibit 23 Consent of Independent Auditors (b) Reports on Form 8-K. There were no Reports on Form 8-K filed for the period ended December 31, 2000. (c) Exhibits. The response to this portion of Item 14 is submitted as a separate section of this report. -------- (d) Financial Statement Schedules. The response to this portion of Item 14 is submitted as a separate ----------------------------- section of this report.
(d) Financial Statement Schedules. The response to this portion of Item 14 is submitted as a separate section of this report. -15- 16 SIGNATURES. Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized. GENUINE PARTS COMPANY /s/Larry L. Prince 3/7/96 /s/George W. Kalafut 3/7/96 - ------------------------------------- ------------------------------------ Larry L. Prince (Date) George W. Kalafut/S/ LARRY L. PRINCE 3/12/01 /S/ JERRY W. NIX 3/12/01 - -------------------------------- -------------------------------------------- LARRY L. PRINCE (Date) JERRY W. NIX (Date) Chairman of the Board Executive Vice President - Finance and Chief Executive Officer Finance and Administration and Principal Financial and Accounting Officer
-12-(Principal Financial and Accounting Officer) -16- 1317 Pursuant to the requirements of the Securities and Exchange Act of 1934, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
/s/ Bradley Currey, Jr. /S/ RICHARD W. COURTS II 2/19/96 /s/ Larry01 /S/ BRADLEY CURREY, JR. 2/19/01 - ----------------------------------------------------- ---------------------------------------------------- RICHARD W. COURTS II (Date) BRADLEY CURREY, JR. (Date) Director Director /S/ ROBERT P. FORRESTAL 2/19/01 - ----------------------------------------------------- ---------------------------------------------------- JEAN DOUVILLE (Date) ROBERT P. FORRESTAL (Date) Director Director /S/ THOMAS C. GALLAGHER 2/19/01 /S/ STEPHEN R. KENDALL 2/19/01 - ----------------------------------------------------- ---------------------------------------------------- THOMAS C. GALLAGHER (Date) STEPHEN R. KENDALL (Date) Director Director President and Chief Operating Officer /S/ J. HICKS LANIER 2/19/01 /S/ LARRY L. PrincePRINCE 2/19/9601 - ------------------------------------- ------------------------------------ Bradley Currey, Jr. (Date) Larry----------------------------------------------------- ---------------------------------------------------- J. HICKS LANIER LARRY L. PrincePRINCE (Date) Director Director Chairman of the Board and Chief Executive Officer /s/ Jean Douville/S/ ALANA S. SHEPHERD 2/19/96 /s/ John J. Scalley 2/19/9601 - ------------------------------------- ------------------------------------ Jean Douville----------------------------------------------------- ---------------------------------------------------- ALANA S. SHEPHERD (Date) John J. ScalleyLAWRENCE G. STEINER (Date) Director Director Chairman of the Board and Executive Vice President Chief Executive Officer UAP Inc. /s/ Thomas C. Gallagher/S/ JAMES B. WILLIAMS 2/19/96 /s/ Alana S. Shepherd 2/19/9601 - ------------------------------------- ------------------------------------ Thomas C. Gallagher----------------------------------------------------- ---------------------------------------------------- JAMES B. WILLIAMS (Date) Alana S. ShepherdMICHAEL M. E. JOHNS (Date) Director Director President and Chief Operating Officer /s/ J. Hicks Lanier 2/19/96 /s/ Lawrence G. Steiner 2/19/96 - ------------------------------------- ------------------------------------ J. Hicks Lanier (Date) Lawrence G. Steiner (Date) Director Director /s/ James B. Williams 2/19/96 - ------------------------------------ ------------------------------------ Gardner E. Larned (Date) James B. Williams (Date) Director Director Chairman of the Board Berry Bearing Company - ------------------------------------ William A. Parker (Date) Director
-13--17- 14 Annual Report on Form18 ANNUAL REPORT ON FORM 10-K Item 14(a)ITEM 14(A)(1) andAND (2), (c) and (d) List of Financial Statements Certain Exhibits Year ended December(C) AND (D) LIST OF FINANCIAL STATEMENTS CERTAIN EXHIBITS YEAR ENDED DECEMBER 31, 1995 Genuine Parts Company Atlanta, Georgia2000 GENUINE PARTS COMPANY ATLANTA, GEORGIA 1519 Form 10-K - Item 14(a)(1) and (2) Genuine Parts Company and Subsidiaries Index of Financial Statements The following consolidated financial statements of Genuine Parts Company and subsidiaries, included in the annual report of the registrant to its shareholders for the year ended December 31, 1995,2000, are incorporated by reference in Item 8: Consolidated balance sheets - December 31, 19952000 and 19941999 Consolidated statements of income - Years ended December 31, 1995, 1994,2000, 1999, and 1993 Consolidated statements of shareholders' equity - Years ended December 31, 1995, 1994, and 19931998 Consolidated statements of cash flows - Years ended December 31, 1995, 1994,2000, 1999 and 19931998 Notes to consolidated financial statements - December 31, 19952000 The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries is included in Item 14(d): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulation of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. 1620 ANNUAL REPORT ON FORM 10-K ITEM 14(a)14(A)(3) LIST OF EXHIBITS The following Exhibits are filed as a part of this Report: 10.12* Amendment No. 1 to the Genuine Partnership Plan, effective September 1, 1995. 10.13* Amendment No. 1 to the Genuine Parts Company Pension Plan, effective April 1, 1995. 10.14* Amendment No. 2 to the Genuine Parts Company Pension Plan, dated September 28, 1995, effective January 1, 1995. 13 The following Sections and Pages of the Annual Report to Shareholders for 1995: 3.2 By-laws of the Company, as amended February 19, 2001 10.44 Amendment No. 11 to the Genuine Partnership Plan, dated January 19, 2001, effective April 1, 2000. 10.45 Amendment No. 12 to the Genuine Partnership Plan, dated January 19, 2001, effective December 29, 2000. 13 The following Sections and Pages of Annual Report to Shareholders for 2000: - Selected Financial Data on Page 16 - Selected Financial Data on Page 18 - Common Stock Market and Dividend Information on Page 16 - Management's Discussion and Analysis on Pages 18 and 19 - Quarterly Results of Operations on Page 19 - Segment Data on Page 17 - Report of Independent Auditors on Page 20 - Consolidated Financial Statements and Notes to Consolidated Financial Statements on Pages 21-29 21 Subsidiaries of the Company 23 Consent of Independent Auditors on Page 19 - Consolidated Financial Statements and Notes to Consolidated Financial Statements on Pages 20-25 - Management's Discussion and Analysis of Financial Condition and Results of Operations on Page 26 - Quarterly Results of Operations on Page 26 - Industry Data on Page 27 21 Subsidiaries of the Company 23 Consent of Independent Accountants 27 Financial Data Schedule (for SEC use only)
The following Exhibits are incorporated by reference as set forth in Item 14 on pages 10 and 1111-15 of this Form 10-K: - 3.1 Restated Articles of Incorporation of the Company, dated as of April 18, 1988, and as amended April 17, 1989 and amendments to the Restated Articles of Incorporation of the Company, dated as of November 20, 1989 and April 18, 1994. - 3.2 By-laws of the Company, as amended. - 4.1 Shareholder Protection Rights Agreement, dated as of November 20, 1989,15, 1999, between the Company and Trust CompanySunTrust Bank, Atlanta, as Rights Agent. - 4.2 Specimen Common Stock Certificate. (Incorporated herein by reference fromform the Company's Registration Statement on Form S-1, Registration No. 33-63874).
Instruments with respect to long-term debt where the total amount of securities authorized thereunder does not exceed 10% of the total assets of the Registrant and its subsidiaries on a consolidated basis have not been filed. The Registrant agrees to furnish to the Commission a copy of each such instrument upon request. 21 - 10.1* 1988 Stock Option Plan. - 10.2* Form of Amendment to Deferred Compensation Agreement adopted February 13, 1989, between the Company and certain executive officers of the Company. - 10.3* Form of Agreement adopted February 13, 1989, between the Company and certain executive officers of the Company providing for a supplemental employee benefit upon a change in control of the Company.
17 - 10.4* Genuine Parts Company Supplemental Retirement Plan, effective January 1, 1991. - 10.5* 1992 Stock Option and Incentive Plan, effective April 20, 1992. - 10.6* Restricted Stock Agreement dated March 31, 1994, between the Company and Larry L. Prince. - 10.7* Restricted Stock Agreement dated March 31, 1994, between the Company and Thomas C. Gallagher. - 10.8* The Genuine Parts Company Restated Tax-Deferred Savings Plan, effective January 1, 19931993. - 10.9 *10.9* Amendment No. 2 to the Genuine Parts Company Supplemental Retirement Plan, effective January 1, 1995. - 10.10* Genuine Partnership Plan, as amended and restated January 1, 1994. - 10.11* Genuine Parts Company Pension Plan, as amended and restated, effective January 1, 1989. * Indicates executive compensation plans- 10.12* Amendment No. 1 to the Genuine Partnership Plan, effective September 1, 1995. - 10.13* Amendment No. 1 to the Genuine Parts Company Pension Plan, effective April 1, 1995. - 10.14* Amendment No. 2 to the Genuine Parts Company Pension Plan, dated September 28, 1995, effective January 1, 1995. - 10.15* Genuine Parts Company Directors' Deferred Compensation Plan, effective November 1, 1996. - 10.16* Amendment No. 3 to the Genuine Parts Company Pension Plan, dated May 24, 1996, effective January 1, 1996. - 10.17* Amendment No. 4 to the Genuine Parts Company Pension Plan, dated December 3, 1996, effective January 1, 1996. - 10.18* Amendment No. 2 to the Genuine Partnership Plan, dated December 3, 1996, effective November 1, 1996. - 10.19* Amendment No. 4-A to the Genuine Parts Company Pension Plan, dated August 29, 1997, effective January 1, 1996. - 10.20* Amendment No. 5 to the Genuine Parts Company Pension Plan, dated August 7, 1997. - 10.21* Amendment No. 6 to the Genuine Parts Company Pension Plan, dated October 6, 1997, effective January 1, 1997. - 10.22* Amendment No. 3 to the Genuine Partnership Plan, dated August 7, 1997. - 10.23* Amendment No. 3 to the Genuine Parts Company Supplemental Retirement Plan, dated August 29, 1997, effective August 15, 1997. - 10.24* Genuine Parts Company Death Benefit Plan, effective July 15, 1997. - 10.25* Amendment No. 4 to the Genuine Partnership Plan, dated August 19, 1998, effective January 1, 1998. - 10.26* Amendment No. 5 to the Genuine Partnership Plan, dated December 7, 1998, effective January 1, 1999.
22 - 10.27* Amendment No. 6 to the Genuine Partnership Plan, dated December 7, 1998, effective January 1, 1994. - 10.28* Amendment No. 7 to the Genuine Parts Company Pension Plan, dated August 19, 1998, effective January 1, 1998. - 10.29* Genuine Parts Company 1999 Long-Term Incentive Plan. - 10.30* Genuine Parts Company 1999 Annual Incentive Bonus Plan. - 10.31* Restricted Stock Agreement dated February 25, 1999, between the Company and arrangementsLarry L. Prince. - 10.32* Restricted Stock Agreement dated February 25, 1999, between the Company and Thomas C. Gallagher. - 10.33* Amendment No. 8 to the Genuine Parts Company Pension Plan, dated January 26, 1999, effective September 30, 1998. - 10.34* Amendment No. 9 to the Genuine Parts Company Pension Plan, dated December 30, 1999, effective January 1, 1989; December 31, 1999; and January 1, 2000. - 10.35* Amendment to the Genuine Parts Company 1992 Stock Option and Incentive Plan, dated April 19, 1999, effective April 19, 1999. - 10.36* Amendment to the Genuine Parts Company Tax-Deferred Savings Plan, dated April 19, 1999, effective April 19, 1999. - 10.37* Amendment to the Genuine Parts Company Original Deferred Compensation Plan, dated April 19, 1999, effective April 19, 1999. - 10.38* Amendment to the Genuine Parts Company Directors' Deferred Compensation Plan, dated April 19, 1999, effective April 19, 1999. - 10.39* Amendment to the Genuine Parts Company Supplemental Retirement Plan, dated April 19, 1999, effective April 19, 1999. - 10.40* Amendment No. 7 to the Genuine Partnership Plan, dated January 26, 1999, effective January 1, 1999. - 10.41* Amendment No. 8 to the Genuine Partnership Plan, dated February 4, 1999, effective January 1, 1999. - 10.42* Amendment No. 9 to the Genuine Partnership Plan, dated April 5, 1999, effective April 1, 1999. - 10.43* Amendment No. 10 to the Genuine Partnership Plan, dated December 30, 1999, effective November 30, 1999.
* Indicates executive compensation plans and arrangements. 23 Annual Report on Form 10-K Item 14(d) Financial Statement Schedule II - Valuation and Qualifying Accounts Genuine Parts Company and Subsidiaries
----------------------------------------------------------------------------------------------------------------------------------- Balance at Charged Balance at Beginning to Costs Other End of Period and Expenses Additions(1) Deductions(2) of Period ---------------------------------------------------------------------------------- Year ended December 31, 1998: Reserves and allowances deducted from asset accounts: Allowance for uncollectible accounts $1,849,110 $7,484,733 $ 3,499,025(1) $(7,813,966)(2) $5,018,902 Year ended December 31, 1999: Reserves and allowances deducted from asset accounts: Allowance for uncollectible accounts 5,018,902 14,402,137 1,479,685(1) (13,972,115)(2) 6,928,609 Year ended December 31, 2000: Reserves and allowances deducted from asset accounts: Allowance for uncollectible accounts $6,928,609 $13,875,788 -- $(13,433,963)(2) $7,370,434 ----------------------------------------------------------------------------------------------------------------------------------
- ---------------- (1) Allowance for uncollectible accounts related to significant acquisitions. (2) Uncollectible accounts written off, net of recoveries.