LKQ (LKQ) 10-Q 29 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 22, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	LKQ
Entity Registrant Name	LKQ CORP
Entity Central Index Key	1,065,696
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		306,679,077

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current Assets:
Cash and equivalents	$ 229,220	$ 87,397
Receivables, net	882,582	590,160
Inventory	1,782,797	1,556,552
Prepaid expenses and other current assets	99,288	106,603
Total Current Assets	2,993,887	2,340,712
Property and Equipment, net	758,641	696,567
Intangible Assets:
Goodwill	3,075,293	2,319,246
Other intangibles, net	447,730	215,117
Other Assets	81,306	76,195
Total Assets	7,356,857	5,647,837
Current Liabilities:
Accounts payable	597,826	415,588
Accrued expenses:
Accrued payroll-related liabilities	78,459	86,527
Other accrued expenses	233,288	162,225
Other current liabilities	64,472	31,596
Current portion of long-term obligations	75,365	56,034
Total Current Liabilities	1,049,410	751,970
Long-Term Obligations, Excluding Current Portion	2,743,197	1,528,668
Deferred Income Taxes	179,404	127,239
Other Noncurrent Liabilities	$ 150,437	$ 125,278
Commitments and Contingencies
Stockholders’ Equity:
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 306,521,927 and 305,574,384 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	$ 3,065	$ 3,055
Additional paid-in capital	1,101,979	1,090,713
Retained earnings	2,234,116	2,126,384
Accumulated other comprehensive loss	(104,751)	(105,470)
Total Stockholders’ Equity	3,234,409	3,114,682
Total Liabilities and Stockholders’ Equity	$ 7,356,857	$ 5,647,837

Unaudited Condensed Consolidat3

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	306,521,927	305,574,384
Common stock, shares outstanding	306,521,927	305,574,384

Unaudited Condensed Consolidat4

Unaudited Condensed Consolidated Statements of Income - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenue		$ 1,921,476	$ 1,773,912
Cost of goods sold		1,161,039	1,074,433
Gross margin		760,437	699,479
Facility and warehouse expenses		157,605	132,657
Distribution expenses		152,343	141,714
Selling, general and administrative expenses		218,318	203,241
Restructuring and acquisition related expenses		14,811	6,488
Depreciation and amortization		31,688	29,453
Operating income		185,672	185,926
Other expense (income):
Interest expense, net		14,592	14,906
Loss on debt extinguishment		26,650	0
Change in fair value of contingent consideration liabilities		(73)	(151)
Gains on foreign exchange contracts - acquisition related		(18,342)	0
Other (income) expense, net		(2,962)	1,768
Total other expense, net		20,011	16,825
Income before provision for income taxes		165,661	169,101
Provision for income taxes		57,567	60,098
Equity in earnings of unconsolidated subsidiaries		(362)	(1,908)
Net income		$ 107,732	$ 107,095
Earnings per share:
Basic	[1]	$ 0.35	$ 0.35
Diluted	[1]	$ 0.35	$ 0.35
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Unaudited Condensed Consolidat5

Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 107,732	$ 107,095
Other comprehensive income (loss):
Foreign currency translation	140	(54,810)
Net change in unrecognized gains/losses on derivative instruments, net of tax	432	283
Net change in unrealized gains/losses on pension plan, net of tax	147	128
Total other comprehensive income (loss)	719	(54,399)
Total comprehensive income	$ 108,451	$ 52,696

Unaudited Condensed Consolidat6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 107,732	$ 107,095
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	33,166	30,669
Stock-based compensation expense	5,916	5,546
Excess tax benefit from stock-based payments	(4,637)	(5,201)
Loss on debt extinguishment	26,650	0
Gains on foreign exchange contracts - acquisition related	(18,342)	0
Other	1,156	3,298
Changes in operating assets and liabilities, net of effects from acquisitions:
Receivables	(78,373)	(62,329)
Inventory	18,973	43,823
Prepaid income taxes/income taxes payable	45,591	48,715
Accounts payable	20,514	11,233
Other operating assets and liabilities	(28,139)	(2,704)
Net cash provided by operating activities	130,207	180,145
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(50,393)	(26,096)
Acquisitions, net of cash acquired	(603,735)	(864)
Proceeds from foreign exchange contracts	18,342	0
Other investing activities, net	10,762	(7,316)
Net cash used in investing activities	(625,024)	(34,276)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options	3,202	1,318
Excess tax benefit from stock-based payments	4,637	5,201
Taxes paid related to net share settlements of stock-based compensation awards	(2,281)	(5,243)
Debt issuance costs	(5,907)	0
Borrowings under revolving credit facilities	1,143,217	85,030
Repayments under revolving credit facilities	(345,609)	(155,073)
Borrowings under term loans	338,478	0
Repayments under term loans	0	(5,625)
Borrowings under receivables securitization facility	97,000	2,100
Repayments under receivables securitization facility	(63,000)	0
Borrowings (repayments) of other debt, net	12,850	(6,576)
Repayment of Rhiag Debt and Related payments	(543,347)	0
Payments of other obligations	(1,437)	(1,544)
Net cash provided by (used in) financing activities	637,803	(80,412)
Effect of exchange rate changes on cash and equivalents	(1,163)	(4,570)
Net increase in cash and equivalents	141,823	60,887
Cash and equivalents, beginning of period	87,397	114,605
Cash and equivalents, end of period	229,220	175,492
Supplemental disclosure of cash paid for:
Income taxes, net of refunds	7,715	10,999
Interest	19,320	6,937
Supplemental disclosure of noncash investing and financing activities:
Notes payable and other financing obligations, including notes issued and debt assumed in connection with business acquisitions	551,077	34
Noncash property and equipment additions	$ 5,469	$ 2,414

Unaudited Condensed Consolidat7

Unaudited Condensed Consolidated Statements of Stockholders' Equity - 3 months ended Mar. 31, 2016 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance, shares at Dec. 31, 2015		305,574
Beginning balance at Dec. 31, 2015	$ 3,114,682	$ 3,055	$ 1,090,713	$ 2,126,384	$ (105,470)
Net income	107,732	0	0	107,732	0
Total other comprehensive income (loss)	719	$ 0	0	0	719
RSUs vested, shares		488
Restricted stock units vested, value	(2,281)	$ 5	(2,286)	0	0
Stock-based compensation expense	5,916		5,916	0	0
Stock options exercised, shares		460
Exercise of stock options, value	3,202	$ 5	3,197	0	0
Excess tax benefit from stock-based payments	4,439		4,439	0	0
Ending balance, shares at Mar. 31, 2016		306,522
Ending balance at Mar. 31, 2016	$ 3,234,409	$ 3,065	$ 1,101,979	$ 2,234,116	$ (104,751)

Interim Financial Statements

Interim Financial Statements	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interim Financial Statements	The unaudited financial statements presented in this report represent the consolidation of LKQ Corporation, a Delaware corporation, and its subsidiaries. LKQ Corporation is a holding company and all operations are conducted by subsidiaries. When the terms "LKQ," "the Company," "we," "us," or "our" are used in this document, those terms refer to LKQ Corporation and its consolidated subsidiaries. We have prepared the accompanying unaudited condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") applicable to interim financial statements. Accordingly, certain information related to our significant accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted. These unaudited condensed consolidated financial statements reflect, in the opinion of management, all material adjustments (which include only normally recurring adjustments) necessary to fairly state, in all material respects, our financial position, results of operations and cash flows for the periods presented. Operating results for interim periods are not necessarily indicative of the results that can be expected for any subsequent interim period or for a full year. These interim financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto included in our most recent Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on February 25, 2016.

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Business Combinations	Business Combinations On March 18, 2016, LKQ and its wholly-owned subsidiary LKQ Italia S.r.l. acquired Rhiag-Inter Auto Parts Italia S.p.A. ("Rhiag"), a distributor of aftermarket spare parts for passenger cars and commercial vehicles in Italy, Czech Republic, Slovakia, Switzerland, Hungary, Romania, Ukraine, Bulgaria, Poland and Spain. This acquisition expands LKQ's geographic presence in continental Europe, and we believe the acquisition will create potential purchasing synergies. Total acquisition date fair value of the consideration for our Rhiag acquisition was €534.2 million ( $602.0 million ), composed of €533.6 million ( $601.4 million ) of cash (net of cash acquired) and €0.6 million ( $0.6 million ) of intercompany balances considered to be effectively settled as part of the transaction. In addition, we assumed €488.8 million ( $550.8 million ) of existing Rhiag debt as of the acquisition date. To fund the purchase price of the Rhiag acquisition, LKQ entered into foreign currency forward contracts in March 2016 to acquire a total of €588 million . The rates locked in under the foreign currency forwards were favorable to the spot rate on the settlement date, and as a result, these derivative contracts generated a gain of $18.3 million during the three months ended March 31, 2016. The gain on the foreign currency forwards is recorded in Gains on foreign exchange contracts - acquisition related on our unaudited condensed consolidated statement of income for the three months ended March 31, 2016. We recorded $739.7 million of goodwill related to our acquisition of Rhiag, which we do not expect to be deductible for income tax purposes. The timing of the acquisition did not allow for a full valuation to be completed, so most of the assets, including the intangibles and fixed assets, and the liabilities were preliminarily recorded at book value with the remaining purchase price allocated to goodwill. In the period between the acquisition date and March 31, 2016 , Rhiag, which is reported in our Europe reportable segment, generated revenue of $33.9 million and an operating loss of $3.4 million , which included $6.2 million of acquisition related costs. In addition to our acquisition of Rhiag, we acquired a wholesale business in Europe during the three months ended March 31, 2016 . This acquisition was not material to our results of operations or financial position. On April 21, 2016, LKQ acquired Pittsburgh Glass Works LLC (“PGW”), a leading global distributor and manufacturer of automotive glass products, for a purchase price of approximately $660.3 million , net of cash acquired. PGW’s business comprises wholesale and retail distribution services, automotive glass manufacturing, and retailer alliance partnerships. The acquisition will expand our addressable market in North America and globally. Additionally, we believe the acquisition will create potential distribution synergies with our existing network. We are in the process of completing the purchase accounting for this acquisition and as a result, we are unable to disclose the amounts recognized for each major class of assets acquired and liabilities assumed, or the pro forma effect of the acquisition on our results of operations. During 2015, we completed 18 acquisitions, including 4 wholesale businesses in North America, 12 wholesale businesses in Europe, a self service retail operation, and a specialty vehicle aftermarket business. Our wholesale business acquisitions in North America included PartsChannel, Inc. ("Parts Channel"), an aftermarket collision parts distributor. The specialty aftermarket business acquired was The Coast Distribution System, Inc. ("Coast"), a supplier of replacement parts, supplies and accessories in North America for the recreational vehicle and outdoor recreation markets. Our European acquisitions included 11 aftermarket parts distribution businesses in the Netherlands, 9 of which were former customers of and distributors for our Netherlands subsidiary, Sator Beheer B.V. ("Sator") and were acquired with the objective of expanding our distribution network in the Netherlands. Our other acquisitions completed during 2015 enabled us to expand our geographic presence. Total acquisition date fair value of the consideration for these acquisitions was $187.9 million , composed of $161.3 million of cash (net of cash acquired), $4.3 million of notes payable, $21.2 million of other purchase price obligations, and $ 1.1 million of pre-existing balances between us and the acquired entities considered to be effectively settled as a result of the acquisitions. During the year ended December 31, 2015 , we recorded $92.2 million of goodwill related to these acquisitions and immaterial adjustments to preliminary purchase price allocations related to certain of our 2014 acquisitions. We expect $69.9 million of the $92.2 million of goodwill recorded to be deductible for income tax purposes. Our acquisitions are accounted for under the purchase method of accounting and are included in our unaudited condensed consolidated financial statements from the dates of acquisition. The purchase prices were allocated to the net assets acquired based upon estimated fair market values at the dates of acquisition. The purchase price allocations for the acquisitions made during the three months ended March 31, 2016 and the last nine months of 2015 are preliminary as we are in the process of determining the following: 1) valuation amounts for certain receivables, inventories and fixed assets acquired; 2) valuation amounts for certain intangible assets acquired; 3) the acquisition date fair value of certain liabilities assumed; and 4) the final estimation of the tax basis of the entities acquired. We have recorded preliminary estimates for certain of the items noted above and will record adjustments, if any, to the preliminary amounts upon finalization of the valuations. During the first quarter of 2016, the measurement-period adjustments recorded for acquisitions completed in prior periods were not material. The preliminary purchase price allocations for the acquisitions completed during the three months ended March 31, 2016 and the year ended December 31, 2015 are as follows (in thousands): Three Months Ended Year Ended March 31, 2016 December 31, 2015 Rhiag Other Acquisitions Total All Acquisitions Receivables $ 233,776 $ 561 $ 234,337 $ 29,628 Receivable reserves (23,048 ) (18 ) (23,066 ) (3,926 ) Inventory 239,502 675 240,177 79,646 Prepaid expenses and other current assets 13,743 (13 ) 13,730 3,337 Property and equipment 35,282 21 35,303 11,989 Goodwill 739,741 2,391 742,132 92,175 Other intangibles 238,555 — 238,555 9,926 Other assets 2,101 (411 ) 1,690 5,166 Deferred income taxes (51,514 ) (215 ) (51,729 ) 4,102 Current liabilities assumed (252,372 ) (438 ) (252,810 ) (39,191 ) Debt assumed (550,843 ) — (550,843 ) (2,365 ) Other noncurrent liabilities assumed (22,916 ) — (22,916 ) (2,651 ) Other purchase price obligations — — — (21,199 ) Notes issued — (234 ) (234 ) (4,296 ) Settlement of pre-existing balances (591 ) — (591 ) (1,073 ) Cash used in acquisitions, net of cash acquired $ 601,416 $ 2,319 $ 603,735 $ 161,268 The primary objectives of our acquisitions made during the three months ended March 31, 2016 and the year ended December 31, 2015 were to create economic value for our stockholders by enhancing our position as a leading source for alternative collision and mechanical repair products and to expand into other product lines and businesses that may benefit from our operating strengths. Our 2016 acquisition of Rhiag enabled us to expand our market presence in continental Europe. We believe that our Rhiag acquisition will allow for synergies within our European operations, most notably in procurement. These projected synergies contributed to the preliminary goodwill recorded on the Rhiag acquisition. When we identify potential acquisitions, we attempt to target companies with a leading market presence, an experienced management team and workforce that provide a fit with our existing operations, and strong cash flows. For certain of our acquisitions, we have identified cost savings and synergies as a result of integrating the company with our existing business that provide additional value to the combined entity. In many cases, acquiring companies with these characteristics will result in purchase prices that include a significant amount of goodwill. The following pro forma summary presents the effect of the businesses acquired during the three months ended March 31, 2016 as though the businesses had been acquired as of January 1, 2015 and the businesses acquired during the year ended December 31, 2015 as though they had been acquired as of January 1, 2014 . The pro forma adjustments are based upon unaudited financial information of the acquired entities (in thousands, except per share data): Three Months Ended March 31, 2016 2015 Revenue, as reported $ 1,921,476 $ 1,773,912 Revenue of purchased businesses for the period prior to acquisition: Rhiag 213,376 235,302 Other acquisitions 168 94,334 Pro forma revenue $ 2,135,020 $ 2,103,548 Net income, as reported $ 107,732 $ 107,095 Net income of purchased businesses for the period prior to acquisition, and pro forma purchase accounting adjustments: Rhiag 4,597 5,254 Other acquisitions 11 2,700 Acquisition related costs of acquisitions closed in quarter, net of tax 7,361 — Pro forma net income $ 119,701 $ 115,049 Earnings per share, basic—as reported $ 0.35 $ 0.35 Effect of purchased businesses for the period prior to acquisition: Rhiag 0.02 0.02 Other acquisitions 0.00 0.01 Acquisition related costs of acquisitions closed in quarter, net of tax 0.02 — Pro forma earnings per share, basic (1) $ 0.39 $ 0.38 Earnings per share, diluted—as reported $ 0.35 $ 0.35 Effect of purchased businesses for the period prior to acquisition: Rhiag 0.01 0.02 Other acquisitions 0.00 0.01 Acquisition related costs of acquisitions closed in quarter, net of tax 0.02 — Pro forma earnings per share, diluted (1) $ 0.39 $ 0.37 (1) The sum of the individual earnings per share amounts may not equal the total due to rounding. Unaudited pro forma supplemental information is based upon accounting estimates and judgments that we believe are reasonable. The unaudited pro forma supplemental information includes the effect of purchase accounting adjustments, such as the adjustment of inventory acquired to net realizable value, adjustments to depreciation on acquired property and equipment, adjustments to rent expense for above or below market leases, adjustments to amortization on acquired intangible assets, adjustments to interest expense, and the related tax effects. The timing of the acquisition did not allow for a full valuation to be completed, so most of the assets, including the intangibles and fixed assets, and the liabilities were preliminarily recorded at book value with the remaining purchase price allocated to goodwill. In the second quarter, we will adjust the Rhiag tangible and intangible asset values, as needed, and record the related amortization and depreciation expense. The pro forma impact of our acquisitions reflects the elimination of acquisition related expenses, net of tax totaling $7.4 million for the three months ended March 31, 2016 . Refer to Note 4, "Restructuring and Acquisition Related Expenses ," for further information regarding our acquisition related expenses. These pro forma results are not necessarily indicative of what would have occurred if the acquisitions had been in effect for the periods presented or of future results.

Financial Statement Information

Financial Statement Information	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Revenue Recognition The majority of our revenue is derived from the sale of vehicle parts. Revenue is recognized when the products are shipped to, delivered to or picked up by customers and title has transferred, subject to an allowance for estimated returns, discounts and allowances that we estimate based upon historical information. We recorded a reserve for estimated returns, discounts and allowances of approximately $37.8 million and $32.8 million at March 31, 2016 and December 31, 2015 , respectively. We present taxes assessed by governmental authorities collected from customers on a net basis. Therefore, the taxes are excluded from revenue on our Unaudited Condensed Consolidated Statements of Income and are shown as a current liability on our Unaudited Condensed Consolidated Balance Sheets until remitted. We recognize revenue from the sale of scrap metal, other metals, and cores when title has transferred, which typically occurs upon delivery to the customer. Allowance for Doubtful Accounts We recorded a reserve for uncollectible accounts of approximately $47.0 million and $24.6 million at March 31, 2016 and December 31, 2015 , respectively. The acquisition of Rhiag in March 2016 contributed $23.0 million to our reserve for uncollectible accounts at March 31, 2016 . See Note 2, "Business Combinations " for further information on our acquisitions. Inventory Inventory consists of the following (in thousands): March 31, December 31, 2016 2015 Aftermarket and refurbished products $ 1,374,368 $ 1,146,162 Salvage and remanufactured products 408,429 410,390 Total inventory $ 1,782,797 $ 1,556,552 Our acquisitions completed during 2016, including the March 18, 2016 acquisition of Rhiag, and adjustments to preliminary valuations of inventory for certain of our 2015 acquisitions contributed $239.5 million to our aftermarket and refurbished products inventory and $0.7 million to our salvage and remanufactured products inventory. See Note 2, "Business Combinations " for further information on our acquisitions. Intangible Assets Intangible assets consist primarily of goodwill (the cost of purchased businesses in excess of the fair value of the identifiable net assets acquired) and other specifically identifiable intangible assets, such as trade names, trademarks, customer and supplier relationships, software and other technology related assets, and covenants not to compete. The changes in the carrying amount of goodwill by reportable segment during the three months ended March 31, 2016 are as follows (in thousands): North America Europe Specialty Total Balance as of January 1, 2016 $ 1,445,850 $ 594,482 $ 278,914 $ 2,319,246 Business acquisitions and adjustments to previously recorded goodwill 555 742,023 (446 ) 742,132 Exchange rate effects 6,127 8,137 (349 ) 13,915 Balance as of March 31, 2016 $ 1,452,532 $ 1,344,642 $ 278,119 $ 3,075,293 During the three months ended March 31, 2016 , we recorded $739.7 million of goodwill related to our acquisition of Rhiag. The goodwill recorded for the Rhiag acquisition is preliminary, as we are still in process of completing our valuation of assets acquired and liabilities assumed. See Note 2, "Business Combinations " for further information on our acquisitions. The components of other intangibles are as follows (in thousands): March 31, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Trade names and trademarks $ 216,027 $ (45,803 ) $ 170,224 $ 172,219 $ (43,458 ) $ 128,761 Customer and supplier relationships 287,857 (45,013 ) 242,844 95,508 (41,007 ) 54,501 Software and other technology related assets 50,437 (20,388 ) 30,049 44,500 (17,844 ) 26,656 Covenants not to compete 10,696 (6,083 ) 4,613 10,774 (5,575 ) 5,199 $ 565,017 $ (117,287 ) $ 447,730 $ 323,001 $ (107,884 ) $ 215,117 During the three months ended March 31, 2016 , we recorded intangible assets resulting from our acquisition of Rhiag, which included $190.5 million of customer relationships, $43.3 million of trade names, and $4.8 million of software and other technology related assets; the remaining intangible assets recorded in connection with our acquisition of Rhiag were not material. The intangible assets recorded for the Rhiag acquisition represent the existing intangible assets on Rhiag's balance sheet prior to the acquisition, as we are still in process of completing our valuation for the intangible assets acquired. See Note 2, "Business Combinations " for further information on our acquisitions. Trade names and trademarks are amortized over a useful life ranging from 4 to 30 years on a straight-line basis. Customer and supplier relationships are amortized over the expected period to be benefited ( 4 to 20 years) on an accelerated basis. Software and other technology related assets are amortized on a straight-line basis over the expected period to be benefited ( three to six years). Covenants not to compete are amortized over the lives of the respective agreements, which range from one to five years, on a straight-line basis. Amortization expense for intangible assets was $8.9 million and $8.3 million during the three months ended March 31, 2016 and 2015 , respectively. Estimated amortization expense for each of the five years in the period ending December 31, 2020 is $48.0 million , $56.6 million , $48.0 million , $43.3 million and $28.6 million , respectively. Warranty Reserve Some of our salvage mechanical products are sold with a standard six month warranty against defects. Additionally, some of our remanufactured engines are sold with a standard three year warranty against defects. We also provide a limited lifetime warranty for certain of our aftermarket products. We record the estimated warranty costs at the time of sale using historical warranty claim information to project future warranty claims activity. The changes in the warranty reserve are as follows (in thousands): Balance as of January 1, 2016 $ 17,363 Warranty expense 8,804 Warranty claims (7,451 ) Balance as of March 31, 2016 $ 18,716 Investments in Unconsolidated Subsidiaries In February 2016, we sold our investment in ACM Parts Pty Ltd. Our investment in unconsolidated subsidiaries and our equity in the net earnings of the investees was not material as of and for the three months ended March 31, 2016. Depreciation Expense Included in Cost of Goods Sold on the Unaudited Condensed Consolidated Statements of Income is depreciation expense associated with our refurbishing, remanufacturing, and furnace operations as well as our distribution centers. Depreciation expense was $24.3 million and $22.4 million during the three months ended March 31, 2016 and 2015 , respectively. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"), which was amended in July 2015. This update outlines a new comprehensive revenue recognition model that supersedes most current revenue recognition guidance, and requires companies to 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. Entities adopting the standard have the option of using either a full retrospective or modified retrospective approach in the application of this guidance. ASU 2014-09 will be effective for the Company during the first quarter of our fiscal year 2018. Early adoption is permitted for annual reporting periods beginning after December 15, 2016. We are still evaluating the impact that ASU 2014-09 will have on our consolidated financial statements and related disclosures. In September 2015, the FASB issued Accounting Standards Update 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments" ("ASU 2015-16"), which requires an acquirer to recognize adjustments to provisional amounts identified during the measurement period in the reporting period in which the adjustments are identified as opposed to recognition as if the accounting had been completed as of the acquisition date. The ASU also requires disclosure regarding amounts that would have been recorded in previous reporting periods if the adjustment had been recognized as of the acquisition date. ASU 2015-16 is effective for the Company during the first quarter of our fiscal year 2016 and is being applied on a prospective basis. The measurement-period adjustments for our acquisitions and the related impact on earnings of any amounts that would have been recorded in previous periods are disclosed in Note 2, "Business Combinations ." In February 2016, the FASB issued Accounting Standards Update 2016-02, "Leases" ("ASU 2016-02"), t o increase transparency and comparability by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The main difference between previous GAAP and this ASU is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. The standard requires that entities apply the effects of these changes using a modified retrospective approach, which includes a number of optional practical expedients. We are still evaluating the impact that ASU 2016-02 will have on our consolidated financial statements and related disclosures. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, "Improvements to Employee Share-Based Payment Accounting" (“ASU 2016-09”), to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The Company is currently assessing the impact that this standard will have upon adoption.

Restructuring and Acquisition R

Restructuring and Acquisition Related Expenses	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Acquisition Related Expenses	Acquisition Related Expenses Acquisition related expenses, which include external costs such as legal, accounting, and advisory fees, totaled $12.7 million for the three months ended March 31, 2016 . Of our 2016 expenses, $10.7 million was related to our acquisition of Rhiag, $1.8 million related to our definitive agreement to acquire PGW, and $0.2 million was related to other completed and potential acquisitions. Acquisition related expenses incurred during the three months ended March 31, 2015 totaled $0.5 million , primarily related to our 2015 acquisitions of the Netherlands distributors. Acquisition Integration Plans During the three months ended March 31, 2016 , we incurred $2.1 million of restructuring expenses. Expenses incurred during the three months ended March 31, 2016 were primarily a result of the integration of our acquisition of Parts Channel into our existing North American wholesale business and the integration of our Coast acquisition into our existing Specialty business. Expenses incurred were primarily related to facility closure and relocation costs for duplicate facilities and the termination of employees. During the three months ended March 31, 2015 , we incurred $6.0 million of restructuring expenses. These expenses were primarily a result of the integration of our October 2014 acquisition of Stag Parkway Holding Company, a supplier of parts for recreational vehicles, into our Specialty business. Expenses incurred were primarily related to facility closure and relocation costs for duplicate facilities, and the termination of employees in connection with the consolidation of overlapping facilities with our existing business. We expect to incur expenses related to the integration of certain of our other acquisitions into our existing operations throughout 2016. These integration activities are expected to include the closure of duplicate facilities, rationalization of personnel in connection with the consolidation of overlapping facilities with our existing business, and moving expenses. Future expenses to complete these integration plans are expected to be approximately $9.0 million ; this amount excludes any potential future restructuring expense related to our acquisitions of Rhiag and PGW.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	In order to attract and retain employees, non-employee directors, consultants, and other persons associated with us, we may grant qualified and nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance shares and performance units under the LKQ Corporation 1998 Equity Incentive Plan (the “Equity Incentive Plan”). We have granted RSUs, stock options, and restricted stock under the Equity Incentive Plan. We expect to issue new shares of common stock to cover past and future equity grants. RSUs RSUs vest over periods of up to five years, subject to a continued service condition. Currently outstanding RSUs contain either a time-based vesting condition or a combination of a performance-based vesting condition and a time-based vesting condition, in which case, both conditions must be met before any RSUs vest. For the RSUs containing a performance-based vesting condition, the Company must report positive diluted earnings per share, subject to certain adjustments, during any fiscal year period within five years following the grant date. Each RSU converts into one share of LKQ common stock on the applicable vesting date. The grant date fair value of RSUs is based on the market price of LKQ stock on the grant date. During the three months ended March 31, 2016 , we granted 745,810 RSUs to employees. The fair value of RSUs that vested during the three months ended March 31, 2016 was $15.1 million . The following table summarizes activity related to our RSUs under the Equity Incentive Plan for the three months ended March 31, 2016 : Number Outstanding Weighted Average Grant Date Fair Value Aggregate Intrinsic Value (in thousands) (1) Unvested as of January 1, 2016 1,981,292 $ 24.19 $ 58,706 Granted 745,810 $ 27.88 Vested (574,496 ) $ 20.85 Forfeited / Canceled (20,192 ) $ 26.39 Unvested as of March 31, 2016 2,132,414 $ 26.35 $ 68,088 Expected to vest after March 31, 2016 2,061,532 $ 26.32 $ 65,825 (1) The aggregate intrinsic value of unvested and expected to vest RSUs represents the total pretax intrinsic value (the fair value of the Company's stock on the last day of each period multiplied by the number of units) that would have been received by the holders had all RSUs vested. This amount changes based on the market price of the Company’s common stock. Stock Options Stock options vest over periods of up to five years, subject to a continued service condition. Stock options expire either six or ten years from the date they are granted. No options were granted during the three months ended March 31, 2016 . The following table summarizes activity related to our stock options under the Equity Incentive Plan for the three months ended March 31, 2016 : Number Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) (1) Balance as of January 1, 2016 3,765,952 $ 8.63 2.9 $ 79,317 Exercised (459,610 ) $ 6.96 Forfeited / Canceled (4,782 ) $ 31.38 Balance as of March 31, 2016 3,301,560 $ 8.83 2.8 $ 76,288 Exercisable as of March 31, 2016 3,214,006 $ 8.19 2.8 $ 76,288 Exercisable as of March 31, 2016 and expected to vest thereafter 3,292,805 $ 8.77 2.8 $ 76,288 (1) The aggregate intrinsic value of outstanding, exercisable and expected to vest options represents the total pretax intrinsic value (the difference between the fair value of the Company's stock on the last day of each period and the exercise price, multiplied by the number of options where the fair value exceeds the exercise price) that would have been received by the option holders had all option holders exercised their options as of January 1, 2016 and March 31, 2016, respectively. This amount changes based on the market price of the Company’s common stock. The following table summarizes the components of pre-tax stock-based compensation expense (in thousands): Three Months Ended March 31, 2016 2015 RSUs $ 5,879 $ 5,420 Stock options 37 126 Total stock-based compensation expense $ 5,916 $ 5,546 As of March 31, 2016 , unrecognized compensation expense related to unvested RSUs and stock options is $44.3 million and $0.2 million , respectively, and is expected to be recognized over weighted-average periods of 3.4 years and 0.8 years, respectively. Stock-based compensation expense related to these awards will be different to the extent the actual forfeiture rates are different from our estimated forfeiture rates.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	The following chart sets forth the computation of earnings per share (in thousands, except per share amounts): Three Months Ended March 31, 2016 2015 Net Income $ 107,732 $ 107,095 Denominator for basic earnings per share—Weighted-average shares outstanding 306,157 304,003 Effect of dilutive securities: RSUs 521 668 Stock options 1,691 2,290 Denominator for diluted earnings per share—Adjusted weighted-average shares outstanding 308,369 306,961 Earnings per share, basic $ 0.35 $ 0.35 Earnings per share, diluted $ 0.35 $ 0.35 The following table sets forth the number of employee stock-based compensation awards outstanding but not included in the computation of diluted earnings per share because their effect would have been antidilutive for the three months ended March 31, 2016 and 2015 (in thousands): Three Months Ended March 31, 2016 2015 Antidilutive securities: RSUs 225 336 Stock options 88 100

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	The components of Accumulated Other Comprehensive Income (Loss) are as follows (in thousands): Three Months Ended Three Months Ended March 31, 2016 March 31, 2015 Foreign Unrealized (Loss) Gain Unrealized (Loss) Gain Accumulated Foreign Unrealized (Loss) Gain Unrealized (Loss) Gain on Pension Plan Accumulated Beginning balance $ (96,890 ) $ (932 ) $ (7,648 ) $ (105,470 ) $ (27,073 ) $ (3,401 ) $ (9,751 ) $ (40,225 ) Pretax income (loss) 140 (165 ) — (25 ) (54,810 ) (1,074 ) — (55,884 ) Income tax effect — 49 — 49 — 370 — 370 Reclassification of unrealized loss — 807 196 1,003 — 1,522 170 1,692 Reclassification of deferred income taxes — (259 ) (49 ) (308 ) — (535 ) (42 ) (577 ) Ending Balance $ (96,750 ) $ (500 ) $ (7,501 ) $ (104,751 ) $ (81,883 ) $ (3,118 ) $ (9,623 ) $ (94,624 ) Unrealized losses on our interest rate swap contracts totaling $0.8 million and $1.5 million were reclassified to interest expense in our Unaudited Condensed Consolidated Statements of Income during the three months ended March 31, 2016 and 2015 , respectively. The deferred income taxes related to our cash flow hedges were reclassified from Accumulated Other Comprehensive Income to income tax expense.

Long-Term Obligations

Long-Term Obligations	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long-Term Obligations	Long-Term Obligations consist of the following (in thousands): March 31, December 31, 2016 2015 Senior secured credit agreement: Term loans payable $ 761,707 $ 410,625 Revolving credit facilities 1,291,622 480,481 Senior notes 600,000 600,000 Receivables securitization facility 97,000 63,000 Notes payable through October 2025 at weighted average interest rates of 1.7% and 2.2%, respectively 18,622 16,104 Other long-term debt at weighted average interest rates of 1.8% and 2.4%, respectively 67,749 29,485 Total debt 2,836,700 1,599,695 Less: long-term debt issuance costs (17,098 ) (13,533 ) Less: current debt issuance cost (1,040 ) (1,460 ) Total debt, net of issuance costs 2,818,562 1,584,702 Less: current maturities, net of debt issuance costs (75,365 ) (56,034 ) Long term debt, net of debt issuance costs $ 2,743,197 $ 1,528,668 Senior Secured Credit Agreement On January 29, 2016, LKQ Corporation, LKQ Delaware LLP, and certain other subsidiaries (collectively, the "Borrowers") entered into the Fourth Amended and Restated Credit Agreement ("Credit Agreement"), which amended the Company’s Third Amended and Restated Credit Agreement by modifying certain terms to (1) extend the maturity date by approximately two years to January 29, 2021; (2) increase the total availability under the credit agreement from $2.3 billion to $3.2 billion (composed of $2.45 billion in the revolving credit facility's multicurrency component; and $750 million of term loans, which consist of a term loan of approximately $500 million and a €230 million term loan); (3) increase our ability to incur additional indebtedness; and (4) make other immaterial or clarifying modifications and amendments to the terms of the Third Amended and Restated Credit Agreement. The additional term loan borrowing was used to repay outstanding revolver borrowings and the amount outstanding under our receivables securitization facility, and to pay fees and expenses relating to the amendment and restatement. The remaining additional term loan borrowing was used to fund the Rhiag acquisition. Amounts under the revolving credit facility are due and payable upon maturity of the Credit Agreement on January 29, 2021. Amounts under the initial and additional term loan borrowings will be due and payable in quarterly installments equal to 0.625% of the original principal amount on each of June 30, September 30, and December 31, 2016, and quarterly installments thereafter equal to 1.25% of the original principal amount beginning on March 31, 2017, with the remaining balance due and payable on the maturity date of the Credit Agreement. We are required to prepay the term loan by amounts equal to proceeds from the sale or disposition of certain assets if the proceeds are not reinvested within twelve months. We also have the option to prepay outstanding amounts under the Credit Agreement without penalty. The Credit Agreement contains customary representations and warranties, and contains customary covenants that provide limitations and conditions on our ability to enter into certain transactions. The Credit Agreement also contains financial and affirmative covenants, including limitations on our net leverage ratio and a minimum interest coverage ratio. Borrowings under the Credit Agreement bear interest at variable rates, which depend on the currency and duration of the borrowing elected, plus an applicable margin. The applicable margin is subject to change in increments of 0.25% depending on our net leverage ratio. Interest payments are due on the last day of the selected interest period or quarterly in arrears depending on the type of borrowing. Including the effect of the interest rate swap agreements described in Note 9, "Derivative Instruments and Hedging Activities ," the weighted average interest rates on borrowings outstanding under the Credit Agreement at March 31, 2016 and December 31, 2015 were 2.0% and 1.8% , respectively. We also pay a commitment fee based on the average daily unused amount of the revolving credit facilities. The commitment fee is subject to change in increments of 0.05% depending on our net leverage ratio. In addition, we pay a participation commission on outstanding letters of credit at an applicable rate based on our net leverage ratio, as well as a fronting fee of 0.125% to the issuing bank, which are due quarterly in arrears. Of the total borrowings outstanding under the Credit Agreement, $23.8 million and $22.5 million were classified as current maturities at March 31, 2016 and December 31, 2015 , respectively. As of March 31, 2016 , there were letters of credit outstanding in the aggregate amount of $65.8 million . The amounts available under the revolving credit facilities are reduced by the amounts outstanding under letters of credit, and thus availability under the revolving credit facilities at March 31, 2016 was $1.1 billion . Related to the execution of the Credit Agreement in January 2016, we incurred $5.9 million of fees, of which $4.8 million were capitalized as an offset to Long-Term Obligations and are amortized over the term of the agreement. The remaining $1.1 million of fees, together with $1.8 million of capitalized debt issuance costs related to our Third Amended and Restated Credit Agreement, were expensed during the three months ended March 31, 2016 as a loss on debt extinguishment. Senior Notes In April 2014, LKQ Corporation completed an offer to exchange $600 million aggregate principal amount of registered 4.75% Senior Notes due 2023 (the "Notes") for notes previously issued through a private placement. The Notes are governed by the Indenture dated as of May 9, 2013 among LKQ Corporation, certain of our subsidiaries (the "Guarantors") and U.S. Bank National Association, as trustee. The Notes are substantially identical to those previously issued through the private placement, except the Notes are registered under the Securities Act of 1933. The Notes bear interest at a rate of 4.75% per year from the most recent payment date on which interest has been paid or provided for. Interest on the Notes is payable in arrears on May 15 and November 15 of each year. The first interest payment was made on November 15, 2013. The Notes are fully and unconditionally guaranteed, jointly and severally, by the Guarantors. The Notes and the guarantees are, respectively, LKQ Corporation's and each Guarantor's senior unsecured obligations. The Notes are subordinated to all of LKQ Corporation's and the Guarantors' existing and future secured debt to the extent of the assets securing that secured debt. In addition, the Notes are effectively subordinated to all of the liabilities of our subsidiaries that are not guaranteeing the Notes to the extent of the assets of those subsidiaries. Euro Notes On April 14, 2016, LKQ Italia Bondco S.p.A. (the “Issuer”), an indirect, wholly-owned subsidiary of LKQ Corporation, completed an offering of €500 million aggregate principal amount of senior notes due April 1, 2024 (the “Euro Notes”) in a private placement conducted pursuant to Regulation S and Rule 144A under the Securities Act of 1933. The proceeds from the offering were used to repay revolver borrowings under the Credit Agreement and to pay related fees and expenses. The Euro Notes are governed by the Indenture dated as of April 14, 2016 (the “Indenture”) among the Issuer, the Company and certain of the Company’s subsidiaries (the “Euro Notes Guarantors”), the trustee, and the paying agent, transfer agent, and registrar. The Euro Notes bear interest at a rate of 3.875% per year from the date of original issuance or from the most recent payment date on which interest has been paid or provided for. Interest on the Euro Notes is payable in arrears on April 1 and October 1 of each year, beginning on October 1, 2016. The Euro Notes are fully and unconditionally guaranteed by the Euro Notes Guarantors. The Euro Notes and the guarantees will be the Issuer’s and each Euro Notes Guarantor’s senior unsecured obligations and will be subordinated to all of the Euro Notes Guarantors’ existing and future secured debt to the extent of the assets securing that secured debt. In addition, the Euro Notes will be effectively subordinated to all of the liabilities of our subsidiaries that are not guaranteeing the Euro Notes to the extent of the assets of those subsidiaries. Pursuant to the Indenture, we have agreed to take all actions that may legally be taken in order to cause two of our Italian subsidiaries and two of our Czech subsidiaries, each of which are subsidiaries of the Rhiag group we recently acquired, to become Euro Notes Guarantors within 60 days after the issue date of the Euro Notes. The Euro Notes have been listed on the ExtraMOT, Professional Segment of the Borsa Italia S.p.A. securities exchange and we have agreed to use commercially reasonable efforts to maintain such listing and to also cause the Euro Notes to be listed on the Global Exchange Market of the Irish Stock Exchange as promptly as practicable after the issue date of the Euro Notes. Receivables Securitization Facility On September 29, 2014, we amended the terms of the receivables securitization facility with The Bank of Tokyo-Mitsubishi UFJ, LTD. ("BTMU") to: (i) extend the term of the facility to October 2, 2017; (ii) increase the maximum amount available to $97 million ; and (iii) make other clarifying and updating changes. Under the facility, LKQ sells an ownership interest in certain receivables, related collections and security interests to BTMU for the benefit of conduit investors and/or financial institutions for cash proceeds. Upon payment of the receivables by customers, rather than remitting to BTMU the amounts collected, LKQ retains such collections as proceeds for the sale of new receivables generated by certain of the ongoing operations of the Company. The sale of the ownership interest in the receivables is accounted for as a secured borrowing in our Unaudited Condensed Consolidated Balance Sheets, under which the receivables included in the program collateralize the amounts invested by BTMU, the conduit investors and/or financial institutions (the "Purchasers"). The receivables are held by LKQ Receivables Finance Company, LLC ("LRFC"), a wholly owned bankruptcy-remote special purpose subsidiary of LKQ, and therefore, the receivables are available first to satisfy the creditors of LRFC, including the investors. As of March 31, 2016 and December 31, 2015 , $140.8 million and $136.1 million , respectively, of net receivables were collateral for the investment under the receivables facility. Under the receivables facility, we pay variable interest rates plus a margin on the outstanding amounts invested by the Purchasers. The variable rates are based on (i) commercial paper rates, (ii) the London InterBank Offered Rate ("LIBOR"), or (iii) base rates, and are payable monthly in arrears. Commercial paper rates will be the applicable variable rate unless conduit investors are not available to invest in the receivables at commercial paper rates. In such case, financial institutions will invest at the LIBOR rate or at base rates. We also pay a commitment fee on the excess of the investment maximum over the average daily outstanding investment, payable monthly in arrears. As of March 31, 2016 , the interest rate under the receivables facility was based on commercial paper rates and was 1.3% . The outstanding balances of $97.0 million and $63.0 million as of March 31, 2016 and December 31, 2015 , respectively, were classified as long-term on the Unaudited Condensed Consolidated Balance Sheets because we have the ability and intent to refinance these borrowings on a long-term basis. Repayment of Rhiag Acquired Debt and Debt Related Liabilities On March 24, 2016, LKQ Netherlands B.V., a wholly-owned subsidiary of ours, borrowed €508 million under our multi-currency revolving credit facility to repay the Rhiag acquired debt and debt related liabilities. The borrowed funds were passed through an intercompany note to Rhiag and then were used to pay (i) $519.6 million ( €465.0 million ) for the principal of Rhiag senior note debt assumed with the acquisition, (ii) accrued interest of $8.0 million ( €7.1 million ) on the notes, (iii) the call premium of $23.8 million ( €21.2 million ) associated with early redemption of the notes and (iv) $4.9 million ( €4.4 million ) to terminate Rhiag’s outstanding interest rate swap related to the floating portion of the notes. The call premium is recorded as a loss on debt extinguishment in the Unaudited Condensed Consolidated Statements of Income. In April 2016, the proceeds from the Euro Notes were used to settle the intercompany note with LKQ Netherlands B.V. and then to repay a portion of the borrowings on the revolving credit facility.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	We are exposed to market risks, including the effect of changes in interest rates, foreign currency exchange rates and commodity prices. Under our current policies, we use derivatives to manage our exposure to variable interest rates on our senior secured debt and changing foreign exchange rates for certain foreign currency denominated transactions. We do not hold or issue derivatives for trading purposes. Cash Flow Hedges At March 31, 2016 , we had interest rate swap agreements in place to hedge a portion of the variable interest rate risk on our variable rate borrowings under our Credit Agreement, with the objective of reducing the impact of interest rate fluctuations and stabilizing cash flows. Under the terms of the interest rate swap agreements, we pay the fixed interest rate and receive payment at a variable rate of interest based on LIBOR for the respective currency of each interest rate swap agreement’s notional amount. The effective portion of changes in the fair value of the interest rate swap agreements is recorded in Accumulated Other Comprehensive Income (Loss) and is reclassified to interest expense when the underlying interest payment has an impact on earnings. The ineffective portion of changes in the fair value of the interest rate swap agreements is reported in interest expense. Our interest rate swap contracts have maturity dates ranging from 2016 through 2021. In the first quarter of 2016, we entered into interest rate swap contracts representing a total of $440 million of U.S. dollar-denominated debt. The new swaps entered into in 2016 mature in January 2021, and convert floating to fixed interest rates. From time to time, we may hold foreign currency forward contracts related to certain foreign currency denominated intercompany transactions, with the objective of reducing the impact of changing exchange rates on these future cash flows, as well as reducing the impact of fluctuating exchange rates on our results of operations through the respective dates of settlement. Under the terms of the foreign currency forward contracts, we will sell the foreign currency in exchange for U.S. dollars at a fixed rate on the maturity dates of the contracts. The effective portion of the changes in fair value of the foreign currency forward contracts is recorded in Accumulated Other Comprehensive Income (Loss) and reclassified to other income (expense) when the underlying transaction has an impact on earnings. The following table summarizes the notional amounts and fair values of our designated cash flow hedges as of March 31, 2016 and December 31, 2015 (in thousands): Notional Amount Fair Value at March 31, 2016 (USD) Fair Value at December 31, 2015 (USD) March 31, 2016 December 31, 2015 Other Assets Other Accrued Expenses Other Noncurrent Liabilities Other Accrued Expenses Interest rate swap agreements USD denominated $ 610,000 $ 170,000 $ 1,800 $ 760 $ 1,364 $ 858 GBP denominated £ 50,000 £ 50,000 — 350 — 465 CAD denominated C$ — C$ 25,000 — — — 24 Total cash flow hedges $ 1,800 $ 1,110 $ 1,364 $ 1,347 While our derivative instruments executed with the same counterparty are subject to master netting arrangements, we present our cash flow hedge derivative instruments on a gross basis in our Unaudited Condensed Consolidated Balance Sheets. The impact of netting the fair values of these contracts would not have a material effect on our Unaudited Condensed Consolidated Balance Sheets at March 31, 2016 or December 31, 2015 . The activity related to our cash flow hedges is included in Note 7, "Accumulated Other Comprehensive Income (Loss) ." Ineffectiveness related to our cash flow hedges was immaterial to our results of operations during the three months ended March 31, 2016 and March 31, 2015 . We do not expect future ineffectiveness related to our cash flow hedges to have a material effect on our results of operations. As of March 31, 2016 , we estimate that $0.5 million of derivative losses (net of tax) included in Accumulated Other Comprehensive Loss will be reclassified into our consolidated statements of income within the next 12 months. Other Derivative Instruments We hold other short-term derivative instruments, including foreign currency forward contracts, to manage our exposure to variability related to inventory purchases and intercompany financing transactions denominated in a non-functional currency. We have elected not to apply hedge accounting for these transactions, and therefore the contracts are adjusted to fair value through our results of operations as of each balance sheet date, which could result in volatility in our earnings. The notional amount and fair value of these contracts at March 31, 2016 and December 31, 2015 , along with the effect on our results of operations during each of the three month periods ended March 31, 2016 and March 31, 2015 , were immaterial.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Financial Assets and Liabilities Measured at Fair Value We use the market and income approaches to value our financial assets and liabilities, and during the three months ended March 31, 2016 , there were no significant changes in valuation techniques or inputs related to the financial assets or liabilities that we have historically recorded at fair value. The tiers in the fair value hierarchy include: Level 1, defined as observable inputs such as quoted market prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The following tables present information about our financial assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs we utilized to determine such fair value as of March 31, 2016 and December 31, 2015 (in thousands): Balance as of March 31, 2016 Fair Value Measurements as of March 31, 2016 Level 1 Level 2 Level 3 Assets: Cash surrender value of life insurance $ 31,634 $ — $ 31,634 $ — Interest rate swaps 1,800 — 1,800 — Total Assets $ 33,434 $ — $ 33,434 $ — Liabilities: Contingent consideration liabilities $ 3,079 $ — $ — $ 3,079 Deferred compensation liabilities 32,526 — 32,526 — Interest rate swaps 2,474 — 2,474 — Total Liabilities $ 38,079 $ — $ 35,000 $ 3,079 Balance as of December 31, 2015 Fair Value Measurements as of December 31, 2015 Level 1 Level 2 Level 3 Assets: Cash surrender value of life insurance $ 29,782 $ — $ 29,782 $ — Total Assets $ 29,782 $ — $ 29,782 $ — Liabilities: Contingent consideration liabilities $ 4,584 $ — $ — $ 4,584 Deferred compensation liabilities 30,336 — 30,336 — Interest rate swaps 1,347 — 1,347 — Total Liabilities $ 36,267 $ — $ 31,683 $ 4,584 The cash surrender value of life insurance is included in Other Assets on our Unaudited Condensed Consolidated Balance Sheets. The current portion of deferred compensation and contingent consideration liabilities is included in Other Current Liabilities, and the noncurrent portion is included in Other Noncurrent Liabilities on our Unaudited Condensed Consolidated Balance Sheets based on the expected timing of the related payments. The balance sheet classification of the interest rate swaps is presented in Note 9, "Derivative Instruments and Hedging Activities ." Our Level 2 assets and liabilities are valued using inputs from third parties and market observable data. We obtain valuation data for the cash surrender value of life insurance and deferred compensation liabilities from third party sources, which determine the net asset values for our accounts using quoted market prices, investment allocations and reportable trades. We value our derivative instruments using a third party valuation model that performs a discounted cash flow analysis based on the terms of the contracts and market observable inputs such as current and forward interest rates. Our contingent consideration liabilities are related to our business acquisitions as further described in Note 2, "Business Combinations ." Under the terms of the contingent consideration agreements, payments may be made at specified future dates depending on the performance of the acquired business subsequent to the acquisition. The liabilities for these payments are classified as Level 3 liabilities because the related fair value measurement, which is determined using an income approach, includes significant inputs not observable in the market. These liabilities are not considered material. Changes in the fair value of our contingent consideration obligations are as follows (in thousands): Three Months Ended March 31, 2016 2015 Balance as of January 1 $ 4,584 $ 7,295 Payments (1,667 ) (1,667 ) Increase in fair value included in earnings 73 151 Exchange rate effects 89 (218 ) Balance as of March 31 $ 3,079 $ 5,561 Of the amounts included in earnings for the three months ended March 31, 2016 and 2015 , $0.1 million and $0.2 million of losses, respectively, were related to contingent consideration obligations outstanding as of March 31, 2016 . Changes in the values of the liabilities are recorded in Change in Fair Value of Contingent Consideration Liabilities within Other Expense (Income) on our Unaudited Condensed Consolidated Statements of Income. The changes in the fair value of contingent consideration obligations included in earnings during the respective periods in 2016 and 2015 reflect the quarterly reassessment of each obligation's fair value, including an analysis of the significant inputs used in the valuation, as well as the accretion of the present value discount. Financial Assets and Liabilities Not Measured at Fair Value Our debt is reflected on the Unaudited Condensed Consolidated Balance Sheets at cost. Based on market conditions as of March 31, 2016 and December 31, 2015 , the fair values of our credit agreement borrowings reasonably approximated the carrying values of $2.1 billion and $891.1 million , respectively. In addition, based on market conditions, the fair value of the outstanding borrowings under the receivables facility reasonably approximated the carrying value of $97.0 million and $63.0 million at March 31, 2016 and December 31, 2015 , respectively. As of March 31, 2016 and December 31, 2015 , the fair value of the Notes was approximately $576 million and $567 million , respectively, compared to a carrying value of $600 million . The fair value measurements of the borrowings under our credit agreement and receivables facility are classified as Level 2 within the fair value hierarchy since they are determined based upon significant inputs observable in the market, including interest rates on recent financing transactions with similar terms and maturities. We estimated the fair value by calculating the upfront cash payment a market participant would require at March 31, 2016 to assume these obligations. The fair value of our senior notes is classified as Level 1 within the fair value hierarchy since it is determined based upon observable market inputs including quoted market prices in an active market.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Operating Leases We are obligated under noncancelable operating leases for corporate office space, warehouse and distribution facilities, trucks and certain equipment. The future minimum lease commitments under these leases at March 31, 2016 are as follows (in thousands): Nine months ending December 31, 2016 $ 132,950 Years ending December 31: 2017 150,877 2018 125,921 2019 101,707 2020 83,547 2021 61,165 Thereafter 255,301 Future Minimum Lease Payments $ 911,468 Litigation and Related Contingencies We have certain contingencies resulting from litigation, claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business. We currently expect that the resolution of such contingencies will not materially affect our financial position, results of operations or cash flows.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	At the end of each interim period, we estimate our annual effective tax rate and apply that rate to our interim earnings. We also record the tax impact of certain unusual or infrequently occurring items, including changes in judgment about valuation allowances and the effects of changes in tax laws or rates, in the interim period in which they occur. The computation of the annual estimated effective tax rate at each interim period requires certain estimates and significant judgment including, but not limited to, the expected operating income for the year, projections of the proportion of income earned and taxed in state and foreign jurisdictions, permanent and temporary differences between book and taxable income, and the likelihood of recovering deferred tax assets generated in the current year. The accounting estimates used to compute the provision for income taxes may change as new events occur, additional information is obtained or as the tax environment changes. Our effective income tax rate for the three months ended March 31, 2016 was 34.8% , compared with 35.5% for the comparable prior year period. The lower effective income tax rate for the three months ended March 31, 2016 reflects our expected geographic distribution of income, with a slightly larger proportion of our pre-tax income expected to be earned in the typically lower tax rate international jurisdictions. In addition, the tax provision for the first quarter of 2015 included unfavorable discrete items of $0.7 million primarily attributable to U.S. state deferred tax adjustments; discrete items for the three months ended March 31, 2016 were immaterial.

Segment and Geographic Informat

Segment and Geographic Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment and Geographic Information	We have four operating segments: Wholesale – North America; Europe; Specialty; and Self Service. Our Wholesale – North America and Self Service operating segments are aggregated into one reportable segment, North America, because they possess similar economic characteristics and have common products and services, customers, and methods of distribution. Our reportable segments are organized based on a combination of geographic areas served and type of product lines offered. The reportable segments are managed separately as each business serves different customers (i.e. geographic in the case of North America and Europe and product type in the case of Specialty) and is affected by different economic conditions. Therefore, we present three reportable segments: North America, Europe and Specialty. The following tables present our financial performance by reportable segment for the periods indicated (in thousands): North America Europe Specialty Eliminations Consolidated Three Months Ended March 31, 2016 Revenue: Third Party $ 1,087,363 $ 546,751 $ 287,362 $ — $ 1,921,476 Intersegment 214 10 951 (1,175 ) — Total segment revenue $ 1,087,577 $ 546,761 $ 288,313 $ (1,175 ) $ 1,921,476 Segment EBITDA $ 147,375 $ 57,498 $ 31,738 $ — $ 236,611 Depreciation and amortization (1) 17,515 10,308 5,343 — 33,166 Three Months Ended March 31, 2015 Revenue: Third Party $ 1,046,079 $ 487,346 $ 240,487 $ — $ 1,773,912 Intersegment 94 — 735 (829 ) — Total segment revenue $ 1,046,173 $ 487,346 $ 241,222 $ (829 ) $ 1,773,912 Segment EBITDA $ 149,388 $ 46,523 $ 25,404 $ — $ 221,315 Depreciation and amortization (1) 17,265 8,351 5,053 — 30,669 (1) Amounts presented include depreciation and amortization expense recorded within cost of goods sold. The key measure of segment profit or loss reviewed by our chief operating decision maker, who is our Chief Executive Officer, is Segment EBITDA. Segment EBITDA includes revenue and expenses that are controllable by the segment. Corporate and administrative expenses are allocated to the segments based on usage, with shared expenses apportioned based on the segment's percentage of consolidated revenue. Segment EBITDA is calculated as EBITDA excluding restructuring and acquisition related expenses, change in fair value of contingent consideration liabilities, other acquisition related gains and losses and equity in earnings of unconsolidated subsidiaries. EBITDA, which is the basis for Segment EBITDA, is calculated as net income excluding depreciation, amortization, interest (including loss on debt extinguishment) and taxes. Loss on debt extinguishment is considered a component of interest in calculating EBITDA. The table below provides a reconciliation from Segment EBITDA to Net Income (in thousands): Three Months Ended March 31, 2016 2015 Segment EBITDA $ 236,611 $ 221,315 Deduct: Restructuring and acquisition related expenses (1) 14,811 6,488 Change in fair value of contingent consideration liabilities (2) 73 151 Add: Equity in earnings of unconsolidated subsidiaries (362 ) (1,908 ) Gains on foreign exchange contracts - acquisition related (3) 18,342 — EBITDA $ 239,707 $ 212,768 Depreciation and amortization - cost of goods sold 1,478 1,216 Depreciation and amortization 31,688 29,453 Interest expense, net 14,592 14,906 Loss on debt extinguishment 26,650 — Provision for income taxes 57,567 60,098 Net income $ 107,732 $ 107,095 (1) See Note 4, "Restructuring and Acquisition Related Expenses ," for further information. (2) See Note 10, "Fair Value Measurements ," for further information on our contingent consideration liabilities. (3) Reflects gain on foreign currency forwards used to fix the Euro purchase price of Rhiag. The following table presents capital expenditures by reportable segment (in thousands): Three Months Ended March 31, 2016 2015 Capital Expenditures North America $ 22,783 $ 15,403 Europe 19,107 7,869 Specialty 8,503 2,824 $ 50,393 $ 26,096 The following table presents assets by reportable segment (in thousands): March 31, December 31, 2016 2015 Receivables, net North America $ 338,326 $ 314,743 Europe (1) 440,650 215,710 Specialty 103,606 59,707 Total receivables, net 882,582 590,160 Inventory North America 822,103 847,787 Europe (1) 641,288 427,323 Specialty 319,406 281,442 Total inventory 1,782,797 1,556,552 Property and Equipment, net North America 477,019 467,961 Europe (1) 222,976 175,455 Specialty 58,646 53,151 Total property and equipment, net 758,641 696,567 Other unallocated assets 3,932,837 2,804,558 Total assets $ 7,356,857 $ 5,647,837 (1) The increase in Europe assets primarily relates to the Rhiag acquisition (see " Note 2, "Business Combinations " for further detail). We report net receivables, inventories, and net property and equipment by segment as that information is used by the chief operating decision maker in assessing segment performance. These assets provide a measure for the operating capital employed in each segment. Unallocated assets include cash, prepaid and other current and noncurrent assets, goodwill, intangibles and deferred income taxes. The majority of our operations are conducted in the U.S. Our European operations are located in the U.K., the Netherlands, Belgium, France, Sweden, and Norway. As part of the Rhiag acquisition we expanded our operations into Italy, Czech Republic, Switzerland, Hungary, Romania, Ukraine, Bulgaria, Slovakia, Poland and Spain. Our operations in other countries include recycled and aftermarket operations in Canada, engine remanufacturing and bumper refurbishing operations in Mexico, an aftermarket parts freight consolidation warehouse in Taiwan, and administrative support functions in India. Our net sales are attributed to geographic area based on the location of the selling operation. The following table sets forth our revenue by geographic area (in thousands): Three Months Ended March 31, 2016 2015 Revenue United States $ 1,284,967 $ 1,194,944 United Kingdom 349,676 343,607 Other countries 286,833 235,361 $ 1,921,476 $ 1,773,912 The following table sets forth our tangible long-lived assets by geographic area (in thousands): March 31, December 31, 2016 2015 Long-lived Assets United States $ 506,481 $ 493,300 United Kingdom 149,104 138,546 Other countries 103,056 64,721 $ 758,641 $ 696,567 The following table sets forth our revenue by product category (in thousands): Three Months Ended March 31, 2016 2015 Aftermarket, other new and refurbished products $ 1,387,736 $ 1,246,471 Recycled, remanufactured and related products and services 430,589 398,445 Other 103,151 128,996 $ 1,921,476 $ 1,773,912 Our North American reportable segment generates revenue from all of our product categories, while our European and Specialty segments generate revenue primarily from the sale of aftermarket products. Revenue from other sources includes scrap sales, bulk sales to mechanical remanufacturers (including cores) and sales of aluminum ingots and sows from our furnace operations.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	Mar. 31, 2016
Condensed Consolidating Financial Information [Abstract]
Condensed Consolidating Financial Information	LKQ Corporation (the "Parent") issued, and the Guarantors have fully and unconditionally guaranteed, jointly and severally, the Notes due on May 15, 2023. A Guarantor's guarantee will be unconditionally and automatically released and discharged upon the occurrence of any of the following events: (i) a transfer (including as a result of consolidation or merger) by the Guarantor to any person that is not a Guarantor of all or substantially all assets and properties of such Guarantor, provided the Guarantor is also released from its obligations with respect to indebtedness under the Credit Agreement or other indebtedness of ours, which obligation gave rise to the guarantee of the Notes; (ii) a transfer (including as a result of consolidation or merger) to any person that is not a Guarantor of the equity interests of a Guarantor or issuance by a Guarantor of its equity interests such that the Guarantor ceases to be a subsidiary, as defined in the Indenture, provided the Guarantor is also released from its obligations with respect to indebtedness under the Credit Agreement or other indebtedness of ours, which obligation gave rise to the guarantee of the Notes; (iii) the release of the Guarantor from its obligations with respect to indebtedness under the Credit Agreement or other indebtedness of ours, which obligation gave rise to the guarantee of the Notes; and (iv) upon legal defeasance, covenant defeasance or satisfaction and discharge of the Indenture, as defined in the Indenture. Presented below are the unaudited condensed consolidating financial statements of the Parent, the Guarantors, the non-guarantor subsidiaries (the "Non-Guarantors"), and the elimination entries necessary to present the Company's financial statements on a consolidated basis as required by Rule 3-10 of Regulation S-X of the Securities Exchange Act of 1934 resulting from the guarantees of the Notes. Investments in consolidated subsidiaries have been presented under the equity method of accounting. The principal elimination entries eliminate investments in subsidiaries, intercompany balances, and intercompany revenue and expenses. The unaudited condensed consolidating financial statements below have been prepared from the Company's financial information on the same basis of accounting as the unaudited condensed consolidated financial statements, and may not necessarily be indicative of the financial position, results of operations or cash flows had the Parent, Guarantors and Non-Guarantors operated as independent entities. LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Balance Sheets (In thousands) March 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated Assets Current Assets: Cash and equivalents $ 43,999 $ 13,907 $ 171,314 $ — $ 229,220 Receivables, net 345 272,075 610,162 — 882,582 Intercompany receivables, net 2,695 — 5,585 (8,280 ) — Inventory — 1,067,784 715,013 — 1,782,797 Prepaid expenses and other current assets 1,283 44,324 53,681 — 99,288 Total Current Assets 48,322 1,398,090 1,555,755 (8,280 ) 2,993,887 Property and Equipment, net 304 507,853 250,484 — 758,641 Intangible Assets: Goodwill — 1,640,904 1,434,389 — 3,075,293 Other intangibles, net — 136,639 311,091 — 447,730 Investment in Subsidiaries 4,200,443 293,960 — (4,494,403 ) — Intercompany Notes Receivable 611,585 32,158 — (643,743 ) — Other Assets 39,104 27,306 20,568 (5,672 ) 81,306 Total Assets $ 4,899,758 $ 4,036,910 $ 3,572,287 $ (5,152,098 ) $ 7,356,857 Liabilities and Stockholders’ Equity Current Liabilities: Accounts payable $ 2,482 $ 253,466 341,878 $ — $ 597,826 Intercompany payables, net — 5,585 2,695 (8,280 ) — Accrued expenses: Accrued payroll-related liabilities 3,269 24,875 50,315 — 78,459 Other accrued expenses 15,885 77,709 139,694 — 233,288 Other current liabilities 23,464 16,802 24,206 — 64,472 Current portion of long-term obligations 16,284 1,540 57,541 — 75,365 Total Current Liabilities 61,384 379,977 616,329 (8,280 ) 1,049,410 Long-Term Obligations, Excluding Current Portion 1,567,271 6,425 1,169,501 — 2,743,197 Intercompany Notes Payable — 595,382 48,361 (643,743 ) — Deferred Income Taxes — 113,789 71,287 (5,672 ) 179,404 Other Noncurrent Liabilities 36,694 73,953 39,790 — 150,437 Stockholders’ Equity 3,234,409 2,867,384 1,627,019 (4,494,403 ) 3,234,409 Total Liabilities and Stockholders' Equity $ 4,899,758 $ 4,036,910 $ 3,572,287 $ (5,152,098 ) $ 7,356,857 LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Balance Sheets (In thousands) December 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated Assets Current Assets: Cash and equivalents $ 17,616 $ 13,432 $ 56,349 $ — $ 87,397 Receivables, net — 214,502 375,658 — 590,160 Intercompany receivables, net 3 — 13,544 (13,547 ) — Inventory — 1,060,834 495,718 — 1,556,552 Prepaid expenses and other current assets 15,254 44,810 46,539 — 106,603 Total Current Assets 32,873 1,333,578 987,808 (13,547 ) 2,340,712 Property and Equipment, net 339 494,658 201,570 — 696,567 Intangible Assets: Goodwill — 1,640,745 678,501 — 2,319,246 Other intangibles, net — 141,537 73,580 — 215,117 Investment in Subsidiaries 3,456,837 285,284 — (3,742,121 ) — Intercompany Notes Receivable 630,717 61,764 — (692,481 ) — Other Assets 35,649 28,184 18,218 (5,856 ) 76,195 Total Assets $ 4,156,415 $ 3,985,750 $ 1,959,677 $ (4,454,005 ) $ 5,647,837 Liabilities and Stockholders’ Equity Current Liabilities: Accounts payable $ 681 $ 229,519 $ 185,388 $ — $ 415,588 Intercompany payables, net — 13,544 3 (13,547 ) — Accrued expenses: Accrued payroll-related liabilities 4,395 48,698 33,434 — 86,527 Other accrued expenses 5,399 80,886 75,940 — 162,225 Other current liabilities 284 15,953 15,359 — 31,596 Current portion of long-term obligations 21,041 1,425 33,568 — 56,034 Total Current Liabilities 31,800 390,025 343,692 (13,547 ) 751,970 Long-Term Obligations, Excluding Current Portion 976,353 7,487 544,828 — 1,528,668 Intercompany Notes Payable — 615,488 76,993 (692,481 ) — Deferred Income Taxes — 113,905 19,190 (5,856 ) 127,239 Other Noncurrent Liabilities 33,580 70,109 21,589 — 125,278 Stockholders’ Equity 3,114,682 2,788,736 953,385 (3,742,121 ) 3,114,682 Total Liabilities and Stockholders’ Equity $ 4,156,415 $ 3,985,750 $ 1,959,677 $ (4,454,005 ) $ 5,647,837 LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Income (In thousands) For the Three Months Ended March 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated Revenue $ — $ 1,318,167 $ 635,637 $ (32,328 ) $ 1,921,476 Cost of goods sold — 795,240 398,127 (32,328 ) 1,161,039 Gross margin — 522,927 237,510 — 760,437 Facility and warehouse expenses — 115,210 42,395 — 157,605 Distribution expenses — 104,154 48,189 — 152,343 Selling, general and administrative expenses 10,379 126,668 81,271 — 218,318 Restructuring and acquisition related expenses — 4,036 10,775 — 14,811 Depreciation and amortization 36 20,544 11,108 — 31,688 Operating (loss) income (10,415 ) 152,315 43,772 — 185,672 Other expense (income): Interest expense, net 12,117 143 2,332 — 14,592 Intercompany interest (income) expense, net (10,677 ) 6,590 4,087 — — Loss on debt extinguishment 2,894 — 23,756 — 26,650 Change in fair value of contingent consideration liabilities — 34 39 — 73 Gains on foreign exchange contracts - acquisition related (18,342 ) — — — (18,342 ) Other income, net (111 ) (2,834 ) (17 ) — (2,962 ) Total other (income) expense, net (14,119 ) 3,933 30,197 — 20,011 Income before provision for income taxes 3,704 148,382 13,575 — 165,661 Provision for income taxes 1,423 53,445 2,699 — 57,567 Equity in earnings of unconsolidated subsidiaries (795 ) 5 428 — (362 ) Equity in earnings of subsidiaries 106,246 11,942 — (118,188 ) — Net income $ 107,732 $ 106,884 $ 11,304 $ (118,188 ) $ 107,732 LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Income (In thousands) For the Three Months Ended March 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated Revenue $ — $ 1,225,908 $ 582,943 $ (34,939 ) $ 1,773,912 Cost of goods sold — 740,803 368,569 (34,939 ) 1,074,433 Gross margin — 485,105 214,374 — 699,479 Facility and warehouse expenses — 97,761 34,896 — 132,657 Distribution expenses — 95,992 45,722 — 141,714 Selling, general and administrative expenses 7,631 121,662 73,948 — 203,241 Restructuring and acquisition related expenses — 6,060 428 — 6,488 Depreciation and amortization 40 19,891 9,522 — 29,453 Operating (loss) income (7,671 ) 143,739 49,858 — 185,926 Other expense (income): Interest expense, net 12,314 43 2,549 — 14,906 Intercompany interest (income) expense, net (10,823 ) 7,259 3,564 — — Change in fair value of contingent consideration liabilities — 55 96 — 151 Other expense (income), net 25 (1,790 ) 3,533 — 1,768 Total other expense, net 1,516 5,567 9,742 — 16,825 (Loss) income before (benefit) provision for income taxes (9,187 ) 138,172 40,116 — 169,101 (Benefit) provision for income taxes (3,755 ) 55,777 8,076 — 60,098 Equity in earnings of unconsolidated subsidiaries — 11 (1,919 ) — (1,908 ) Equity in earnings of subsidiaries 112,527 7,260 — (119,787 ) — Net income $ 107,095 $ 89,666 $ 30,121 $ (119,787 ) $ 107,095 LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Comprehensive Income (In thousands) For the Three Months Ended March 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated Net income $ 107,732 $ 106,884 $ 11,304 $ (118,188 ) $ 107,732 Other comprehensive income (loss): Foreign currency translation 140 (2,855 ) (3,039 ) 5,894 140 Net change in unrecognized gains/losses on derivative instruments, net of tax 432 — 96 (96 ) 432 Net change in unrealized gains/losses on pension plan, net of tax 147 — 147 (147 ) 147 Total other comprehensive income (loss) 719 (2,855 ) (2,796 ) 5,651 719 Total comprehensive income $ 108,451 $ 104,029 $ 8,508 $ (112,537 ) $ 108,451 LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Comprehensive Income (In thousands) For the Three Months Ended March 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated Net income $ 107,095 $ 89,666 $ 30,121 $ (119,787 ) $ 107,095 Other comprehensive (loss) income: Foreign currency translation (54,810 ) (14,372 ) (52,799 ) 67,171 (54,810 ) Net change in unrecognized gains/losses on derivative instruments, net of tax 283 — (62 ) 62 283 Change in unrealized gain on pension plan, net of tax 128 — 128 (128 ) 128 Total other comprehensive loss (54,399 ) (14,372 ) (52,733 ) 67,105 (54,399 ) Total comprehensive income (loss) $ 52,696 $ 75,294 $ (22,612 ) $ (52,682 ) $ 52,696 LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Cash Flows (In thousands) For the Three Months Ended March 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by operating activities $ 65,092 $ 77,907 $ 13,437 $ (26,229 ) $ 130,207 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment — (29,710 ) (20,683 ) — (50,393 ) Investment and intercompany note activity with subsidiaries (646,019 ) — — 646,019 — Acquisitions, net of cash acquired — — (603,735 ) — (603,735 ) Proceeds from foreign exchange contracts 18,342 — — — 18,342 Other investing activities, net — 188 10,574 — 10,762 Net cash used in investing activities (627,677 ) (29,522 ) (613,844 ) 646,019 (625,024 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from exercise of stock options 3,202 — — — 3,202 Excess tax benefit from stock-based payments 4,637 — — — 4,637 Taxes paid related to net share settlements of stock-based compensation awards (2,281 ) — — — (2,281 ) Debt issuance costs (5,907 ) — — — (5,907 ) Borrowings under revolving credit facilities 544,000 — 599,217 — 1,143,217 Repayments under revolving credit facilities (44,000 ) — (301,609 ) — (345,609 ) Borrowings under term loans 89,317 — 249,161 — 338,478 Borrowings under receivables securitization facility — — 97,000 — 97,000 Repayments under receivables securitization facility — — (63,000 ) — (63,000 ) (Repayments) borrowings of other debt, net — (946 ) 13,796 — 12,850 Repayment of Rhiag debt and related payments — — (543,347 ) — (543,347 ) Payments of other obligations — (1,437 ) — — (1,437 ) Investment and intercompany note activity with parent — (20,106 ) 666,125 (646,019 ) — Dividends — (25,069 ) (1,160 ) 26,229 — Net cash provided by (used in) financing activities 588,968 (47,558 ) 716,183 (619,790 ) 637,803 Effect of exchange rate changes on cash and equivalents — (352 ) (811 ) — (1,163 ) Net increase in cash and equivalents 26,383 475 114,965 — 141,823 Cash and equivalents, beginning of period 17,616 13,432 56,349 — 87,397 Cash and equivalents, end of period $ 43,999 $ 13,907 $ 171,314 $ — $ 229,220 LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Cash Flows (In thousands) For the Three Months Ended March 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by operating activities $ 110,976 $ 105,119 $ 33,305 $ (69,255 ) $ 180,145 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (4 ) (17,731 ) (8,361 ) — (26,096 ) Investment and intercompany note activity with subsidiaries 18,167 — — (18,167 ) — Acquisitions, net of cash acquired — (764 ) (100 ) — (864 ) Other investing activities, net — 74 (7,390 ) — (7,316 ) Net cash provided by (used in) investing activities 18,163 (18,421 ) (15,851 ) (18,167 ) (34,276 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from exercise of stock options 1,318 — — — 1,318 Excess tax benefit from stock-based payments 5,201 — — — 5,201 Taxes paid related to net share settlements of stock-based compensation awards (5,243 ) — — — (5,243 ) Borrowings under revolving credit facilities 38,000 — 47,030 — 85,030 Repayments under revolving credit facilities (118,000 ) — (37,073 ) — (155,073 ) Borrowings under term loans — — — — — Repayments under term loans (5,625 ) — — — (5,625 ) Borrowings under receivables securitization facility — — 2,100 — 2,100 Repayments of other debt, net (44 ) (504 ) (6,028 ) — (6,576 ) Payments of other obligations — (1,544 ) — — (1,544 ) Investment and intercompany note activity with parent — (18,779 ) 612 18,167 — Dividends — (69,255 ) — 69,255 — Net cash (used in) provided by financing activities (84,393 ) (90,082 ) 6,641 87,422 (80,412 ) Effect of exchange rate changes on cash and equivalents — 169 (4,739 ) — (4,570 ) Net increase (decrease) in cash and equivalents 44,746 (3,215 ) 19,356 — 60,887 Cash and equivalents, beginning of period 14,930 32,103 67,572 — 114,605 Cash and equivalents, end of period $ 59,676 $ 28,888 $ 86,928 $ — $ 175,492

Financial Statement Informati22

Financial Statement Information (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition The majority of our revenue is derived from the sale of vehicle parts. Revenue is recognized when the products are shipped to, delivered to or picked up by customers and title has transferred, subject to an allowance for estimated returns, discounts and allowances that we estimate based upon historical information. We recorded a reserve for estimated returns, discounts and allowances of approximately $37.8 million and $32.8 million at March 31, 2016 and December 31, 2015 , respectively. We present taxes assessed by governmental authorities collected from customers on a net basis. Therefore, the taxes are excluded from revenue on our Unaudited Condensed Consolidated Statements of Income and are shown as a current liability on our Unaudited Condensed Consolidated Balance Sheets until remitted. We recognize revenue from the sale of scrap metal, other metals, and cores when title has transferred, which typically occurs upon delivery to the customer.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts We recorded a reserve for uncollectible accounts of approximately $47.0 million and $24.6 million at March 31, 2016 and December 31, 2015 , respectively. The acquisition of Rhiag in March 2016 contributed $23.0 million to our reserve for uncollectible accounts at March 31, 2016 . See Note 2, "Business Combinations " for further information on our acquisitions.
Inventory	Inventory Inventory consists of the following (in thousands): March 31, December 31, 2016 2015 Aftermarket and refurbished products $ 1,374,368 $ 1,146,162 Salvage and remanufactured products 408,429 410,390 Total inventory $ 1,782,797 $ 1,556,552 Our acquisitions completed during 2016, including the March 18, 2016 acquisition of Rhiag, and adjustments to preliminary valuations of inventory for certain of our 2015 acquisitions contributed $239.5 million to our aftermarket and refurbished products inventory and $0.7 million to our salvage and remanufactured products inventory. See Note 2, "Business Combinations " for further information on our acquisitions.
Intangible Assets	Intangible Assets Intangible assets consist primarily of goodwill (the cost of purchased businesses in excess of the fair value of the identifiable net assets acquired) and other specifically identifiable intangible assets, such as trade names, trademarks, customer and supplier relationships, software and other technology related assets, and covenants not to compete. The changes in the carrying amount of goodwill by reportable segment during the three months ended March 31, 2016 are as follows (in thousands): North America Europe Specialty Total Balance as of January 1, 2016 $ 1,445,850 $ 594,482 $ 278,914 $ 2,319,246 Business acquisitions and adjustments to previously recorded goodwill 555 742,023 (446 ) 742,132 Exchange rate effects 6,127 8,137 (349 ) 13,915 Balance as of March 31, 2016 $ 1,452,532 $ 1,344,642 $ 278,119 $ 3,075,293 During the three months ended March 31, 2016 , we recorded $739.7 million of goodwill related to our acquisition of Rhiag. The goodwill recorded for the Rhiag acquisition is preliminary, as we are still in process of completing our valuation of assets acquired and liabilities assumed. See Note 2, "Business Combinations " for further information on our acquisitions. The components of other intangibles are as follows (in thousands): March 31, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Trade names and trademarks $ 216,027 $ (45,803 ) $ 170,224 $ 172,219 $ (43,458 ) $ 128,761 Customer and supplier relationships 287,857 (45,013 ) 242,844 95,508 (41,007 ) 54,501 Software and other technology related assets 50,437 (20,388 ) 30,049 44,500 (17,844 ) 26,656 Covenants not to compete 10,696 (6,083 ) 4,613 10,774 (5,575 ) 5,199 $ 565,017 $ (117,287 ) $ 447,730 $ 323,001 $ (107,884 ) $ 215,117 During the three months ended March 31, 2016 , we recorded intangible assets resulting from our acquisition of Rhiag, which included $190.5 million of customer relationships, $43.3 million of trade names, and $4.8 million of software and other technology related assets; the remaining intangible assets recorded in connection with our acquisition of Rhiag were not material. The intangible assets recorded for the Rhiag acquisition represent the existing intangible assets on Rhiag's balance sheet prior to the acquisition, as we are still in process of completing our valuation for the intangible assets acquired. See Note 2, "Business Combinations " for further information on our acquisitions. Trade names and trademarks are amortized over a useful life ranging from 4 to 30 years on a straight-line basis. Customer and supplier relationships are amortized over the expected period to be benefited ( 4 to 20 years) on an accelerated basis. Software and other technology related assets are amortized on a straight-line basis over the expected period to be benefited ( three to six years). Covenants not to compete are amortized over the lives of the respective agreements, which range from one to five years, on a straight-line basis. Amortization expense for intangible assets was $8.9 million and $8.3 million during the three months ended March 31, 2016 and 2015 , respectively. Estimated amortization expense for each of the five years in the period ending December 31, 2020 is $48.0 million , $56.6 million , $48.0 million , $43.3 million and $28.6 million , respectively
Warranty Reserve	Warranty Reserve Some of our salvage mechanical products are sold with a standard six month warranty against defects. Additionally, some of our remanufactured engines are sold with a standard three year warranty against defects. We also provide a limited lifetime warranty for certain of our aftermarket products. We record the estimated warranty costs at the time of sale using historical warranty claim information to project future warranty claims activity. The changes in the warranty reserve are as follows (in thousands): Balance as of January 1, 2016 $ 17,363 Warranty expense 8,804 Warranty claims (7,451 ) Balance as of March 31, 2016 $ 18,716
Investments in Unconsolidated Subsidiaries	Investments in Unconsolidated Subsidiaries In February 2016, we sold our investment in ACM Parts Pty Ltd. Our investment in unconsolidated subsidiaries and our equity in the net earnings of the investees was not material as of and for the three months ended March 31, 2016.
Depreciation Expense	Depreciation Expense Included in Cost of Goods Sold on the Unaudited Condensed Consolidated Statements of Income is depreciation expense associated with our refurbishing, remanufacturing, and furnace operations as well as our distribution centers. Depreciation expense was $24.3 million and $22.4 million during the three months ended March 31, 2016 and 2015 , respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"), which was amended in July 2015. This update outlines a new comprehensive revenue recognition model that supersedes most current revenue recognition guidance, and requires companies to 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. Entities adopting the standard have the option of using either a full retrospective or modified retrospective approach in the application of this guidance. ASU 2014-09 will be effective for the Company during the first quarter of our fiscal year 2018. Early adoption is permitted for annual reporting periods beginning after December 15, 2016. We are still evaluating the impact that ASU 2014-09 will have on our consolidated financial statements and related disclosures. In September 2015, the FASB issued Accounting Standards Update 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments" ("ASU 2015-16"), which requires an acquirer to recognize adjustments to provisional amounts identified during the measurement period in the reporting period in which the adjustments are identified as opposed to recognition as if the accounting had been completed as of the acquisition date. The ASU also requires disclosure regarding amounts that would have been recorded in previous reporting periods if the adjustment had been recognized as of the acquisition date. ASU 2015-16 is effective for the Company during the first quarter of our fiscal year 2016 and is being applied on a prospective basis. The measurement-period adjustments for our acquisitions and the related impact on earnings of any amounts that would have been recorded in previous periods are disclosed in Note 2, "Business Combinations ." In February 2016, the FASB issued Accounting Standards Update 2016-02, "Leases" ("ASU 2016-02"), t o increase transparency and comparability by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The main difference between previous GAAP and this ASU is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. The standard requires that entities apply the effects of these changes using a modified retrospective approach, which includes a number of optional practical expedients. We are still evaluating the impact that ASU 2016-02 will have on our consolidated financial statements and related disclosures. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, "Improvements to Employee Share-Based Payment Accounting" (“ASU 2016-09”), to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The Company is currently assessing the impact that this standard will have upon adoption.

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Purchase Price Allocations For Acquisitions	The preliminary purchase price allocations for the acquisitions completed during the three months ended March 31, 2016 and the year ended December 31, 2015 are as follows (in thousands): Three Months Ended Year Ended March 31, 2016 December 31, 2015 Rhiag Other Acquisitions Total All Acquisitions Receivables $ 233,776 $ 561 $ 234,337 $ 29,628 Receivable reserves (23,048 ) (18 ) (23,066 ) (3,926 ) Inventory 239,502 675 240,177 79,646 Prepaid expenses and other current assets 13,743 (13 ) 13,730 3,337 Property and equipment 35,282 21 35,303 11,989 Goodwill 739,741 2,391 742,132 92,175 Other intangibles 238,555 — 238,555 9,926 Other assets 2,101 (411 ) 1,690 5,166 Deferred income taxes (51,514 ) (215 ) (51,729 ) 4,102 Current liabilities assumed (252,372 ) (438 ) (252,810 ) (39,191 ) Debt assumed (550,843 ) — (550,843 ) (2,365 ) Other noncurrent liabilities assumed (22,916 ) — (22,916 ) (2,651 ) Other purchase price obligations — — — (21,199 ) Notes issued — (234 ) (234 ) (4,296 ) Settlement of pre-existing balances (591 ) — (591 ) (1,073 ) Cash used in acquisitions, net of cash acquired $ 601,416 $ 2,319 $ 603,735 $ 161,268
Pro Forma Effect Of Businesses Acquired	The following pro forma summary presents the effect of the businesses acquired during the three months ended March 31, 2016 as though the businesses had been acquired as of January 1, 2015 and the businesses acquired during the year ended December 31, 2015 as though they had been acquired as of January 1, 2014 . The pro forma adjustments are based upon unaudited financial information of the acquired entities (in thousands, except per share data): Three Months Ended March 31, 2016 2015 Revenue, as reported $ 1,921,476 $ 1,773,912 Revenue of purchased businesses for the period prior to acquisition: Rhiag 213,376 235,302 Other acquisitions 168 94,334 Pro forma revenue $ 2,135,020 $ 2,103,548 Net income, as reported $ 107,732 $ 107,095 Net income of purchased businesses for the period prior to acquisition, and pro forma purchase accounting adjustments: Rhiag 4,597 5,254 Other acquisitions 11 2,700 Acquisition related costs of acquisitions closed in quarter, net of tax 7,361 — Pro forma net income $ 119,701 $ 115,049 Earnings per share, basic—as reported $ 0.35 $ 0.35 Effect of purchased businesses for the period prior to acquisition: Rhiag 0.02 0.02 Other acquisitions 0.00 0.01 Acquisition related costs of acquisitions closed in quarter, net of tax 0.02 — Pro forma earnings per share, basic (1) $ 0.39 $ 0.38 Earnings per share, diluted—as reported $ 0.35 $ 0.35 Effect of purchased businesses for the period prior to acquisition: Rhiag 0.01 0.02 Other acquisitions 0.00 0.01 Acquisition related costs of acquisitions closed in quarter, net of tax 0.02 — Pro forma earnings per share, diluted (1) $ 0.39 $ 0.37 (1) The sum of the individual earnings per share amounts may not equal the total due to rounding.

Financial Statement Informati24

Financial Statement Information (Tables)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Schedule Of Inventory	Inventory consists of the following (in thousands): March 31, December 31, 2016 2015 Aftermarket and refurbished products $ 1,374,368 $ 1,146,162 Salvage and remanufactured products 408,429 410,390 Total inventory $ 1,782,797 $ 1,556,552
Changes In Carrying Amount Of Goodwill	The changes in the carrying amount of goodwill by reportable segment during the three months ended March 31, 2016 are as follows (in thousands): North America Europe Specialty Total Balance as of January 1, 2016 $ 1,445,850 $ 594,482 $ 278,914 $ 2,319,246 Business acquisitions and adjustments to previously recorded goodwill 555 742,023 (446 ) 742,132 Exchange rate effects 6,127 8,137 (349 ) 13,915 Balance as of March 31, 2016 $ 1,452,532 $ 1,344,642 $ 278,119 $ 3,075,293
Components Of Other Intangibles	The components of other intangibles are as follows (in thousands): March 31, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Trade names and trademarks $ 216,027 $ (45,803 ) $ 170,224 $ 172,219 $ (43,458 ) $ 128,761 Customer and supplier relationships 287,857 (45,013 ) 242,844 95,508 (41,007 ) 54,501 Software and other technology related assets 50,437 (20,388 ) 30,049 44,500 (17,844 ) 26,656 Covenants not to compete 10,696 (6,083 ) 4,613 10,774 (5,575 ) 5,199 $ 565,017 $ (117,287 ) $ 447,730 $ 323,001 $ (107,884 ) $ 215,117
Changes In Warranty Reserve	The changes in the warranty reserve are as follows (in thousands): Balance as of January 1, 2016 $ 17,363 Warranty expense 8,804 Warranty claims (7,451 ) Balance as of March 31, 2016 $ 18,716

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Unvested Restricted Stock Units Activity	The following table summarizes activity related to our RSUs under the Equity Incentive Plan for the three months ended March 31, 2016 : Number Outstanding Weighted Average Grant Date Fair Value Aggregate Intrinsic Value (in thousands) (1) Unvested as of January 1, 2016 1,981,292 $ 24.19 $ 58,706 Granted 745,810 $ 27.88 Vested (574,496 ) $ 20.85 Forfeited / Canceled (20,192 ) $ 26.39 Unvested as of March 31, 2016 2,132,414 $ 26.35 $ 68,088 Expected to vest after March 31, 2016 2,061,532 $ 26.32 $ 65,825
Schedule of Stock Option Activity	The following table summarizes activity related to our stock options under the Equity Incentive Plan for the three months ended March 31, 2016 : Number Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) (1) Balance as of January 1, 2016 3,765,952 $ 8.63 2.9 $ 79,317 Exercised (459,610 ) $ 6.96 Forfeited / Canceled (4,782 ) $ 31.38 Balance as of March 31, 2016 3,301,560 $ 8.83 2.8 $ 76,288 Exercisable as of March 31, 2016 3,214,006 $ 8.19 2.8 $ 76,288 Exercisable as of March 31, 2016 and expected to vest thereafter 3,292,805 $ 8.77 2.8 $ 76,288
Schedule Of Pre-Tax Stock-Based Compensation Expense	The following table summarizes the components of pre-tax stock-based compensation expense (in thousands): Three Months Ended March 31, 2016 2015 RSUs $ 5,879 $ 5,420 Stock options 37 126 Total stock-based compensation expense $ 5,916 $ 5,546

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Computation Of Earnings Per Share	The following chart sets forth the computation of earnings per share (in thousands, except per share amounts): Three Months Ended March 31, 2016 2015 Net Income $ 107,732 $ 107,095 Denominator for basic earnings per share—Weighted-average shares outstanding 306,157 304,003 Effect of dilutive securities: RSUs 521 668 Stock options 1,691 2,290 Denominator for diluted earnings per share—Adjusted weighted-average shares outstanding 308,369 306,961 Earnings per share, basic $ 0.35 $ 0.35 Earnings per share, diluted $ 0.35 $ 0.35
Schedule Of Antidilutive Securities Excluded From Computation Of Diluted Earnings Per Share	The following table sets forth the number of employee stock-based compensation awards outstanding but not included in the computation of diluted earnings per share because their effect would have been antidilutive for the three months ended March 31, 2016 and 2015 (in thousands): Three Months Ended March 31, 2016 2015 Antidilutive securities: RSUs 225 336 Stock options 88 100

Accumulated Other Comprehensi27

Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule Of Accumulated Other Comprehensive Income (Loss)	The components of Accumulated Other Comprehensive Income (Loss) are as follows (in thousands): Three Months Ended Three Months Ended March 31, 2016 March 31, 2015 Foreign Unrealized (Loss) Gain Unrealized (Loss) Gain Accumulated Foreign Unrealized (Loss) Gain Unrealized (Loss) Gain on Pension Plan Accumulated Beginning balance $ (96,890 ) $ (932 ) $ (7,648 ) $ (105,470 ) $ (27,073 ) $ (3,401 ) $ (9,751 ) $ (40,225 ) Pretax income (loss) 140 (165 ) — (25 ) (54,810 ) (1,074 ) — (55,884 ) Income tax effect — 49 — 49 — 370 — 370 Reclassification of unrealized loss — 807 196 1,003 — 1,522 170 1,692 Reclassification of deferred income taxes — (259 ) (49 ) (308 ) — (535 ) (42 ) (577 ) Ending Balance $ (96,750 ) $ (500 ) $ (7,501 ) $ (104,751 ) $ (81,883 ) $ (3,118 ) $ (9,623 ) $ (94,624 )

Long-Term Obligations (Tables)

Long-Term Obligations (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule Of Long-Term Obligations	Long-Term Obligations consist of the following (in thousands): March 31, December 31, 2016 2015 Senior secured credit agreement: Term loans payable $ 761,707 $ 410,625 Revolving credit facilities 1,291,622 480,481 Senior notes 600,000 600,000 Receivables securitization facility 97,000 63,000 Notes payable through October 2025 at weighted average interest rates of 1.7% and 2.2%, respectively 18,622 16,104 Other long-term debt at weighted average interest rates of 1.8% and 2.4%, respectively 67,749 29,485 Total debt 2,836,700 1,599,695 Less: long-term debt issuance costs (17,098 ) (13,533 ) Less: current debt issuance cost (1,040 ) (1,460 ) Total debt, net of issuance costs 2,818,562 1,584,702 Less: current maturities, net of debt issuance costs (75,365 ) (56,034 ) Long term debt, net of debt issuance costs $ 2,743,197 $ 1,528,668

Derivative Instruments and He29

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Cash Flow Hedges	The following table summarizes the notional amounts and fair values of our designated cash flow hedges as of March 31, 2016 and December 31, 2015 (in thousands): Notional Amount Fair Value at March 31, 2016 (USD) Fair Value at December 31, 2015 (USD) March 31, 2016 December 31, 2015 Other Assets Other Accrued Expenses Other Noncurrent Liabilities Other Accrued Expenses Interest rate swap agreements USD denominated $ 610,000 $ 170,000 $ 1,800 $ 760 $ 1,364 $ 858 GBP denominated £ 50,000 £ 50,000 — 350 — 465 CAD denominated C$ — C$ 25,000 — — — 24 Total cash flow hedges $ 1,800 $ 1,110 $ 1,364 $ 1,347

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis	The following tables present information about our financial assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs we utilized to determine such fair value as of March 31, 2016 and December 31, 2015 (in thousands): Balance as of March 31, 2016 Fair Value Measurements as of March 31, 2016 Level 1 Level 2 Level 3 Assets: Cash surrender value of life insurance $ 31,634 $ — $ 31,634 $ — Interest rate swaps 1,800 — 1,800 — Total Assets $ 33,434 $ — $ 33,434 $ — Liabilities: Contingent consideration liabilities $ 3,079 $ — $ — $ 3,079 Deferred compensation liabilities 32,526 — 32,526 — Interest rate swaps 2,474 — 2,474 — Total Liabilities $ 38,079 $ — $ 35,000 $ 3,079 Balance as of December 31, 2015 Fair Value Measurements as of December 31, 2015 Level 1 Level 2 Level 3 Assets: Cash surrender value of life insurance $ 29,782 $ — $ 29,782 $ — Total Assets $ 29,782 $ — $ 29,782 $ — Liabilities: Contingent consideration liabilities $ 4,584 $ — $ — $ 4,584 Deferred compensation liabilities 30,336 — 30,336 — Interest rate swaps 1,347 — 1,347 — Total Liabilities $ 36,267 $ — $ 31,683 $ 4,584
Changes In Fair Value Of Contingent Consideration Obligations	Changes in the fair value of our contingent consideration obligations are as follows (in thousands): Three Months Ended March 31, 2016 2015 Balance as of January 1 $ 4,584 $ 7,295 Payments (1,667 ) (1,667 ) Increase in fair value included in earnings 73 151 Exchange rate effects 89 (218 ) Balance as of March 31 $ 3,079 $ 5,561

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Lease Commitments	The future minimum lease commitments under these leases at March 31, 2016 are as follows (in thousands): Nine months ending December 31, 2016 $ 132,950 Years ending December 31: 2017 150,877 2018 125,921 2019 101,707 2020 83,547 2021 61,165 Thereafter 255,301 Future Minimum Lease Payments $ 911,468

Segment and Geographic Inform32

Segment and Geographic Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule Of Financial Performance By Reportable Segment	The following tables present our financial performance by reportable segment for the periods indicated (in thousands): North America Europe Specialty Eliminations Consolidated Three Months Ended March 31, 2016 Revenue: Third Party $ 1,087,363 $ 546,751 $ 287,362 $ — $ 1,921,476 Intersegment 214 10 951 (1,175 ) — Total segment revenue $ 1,087,577 $ 546,761 $ 288,313 $ (1,175 ) $ 1,921,476 Segment EBITDA $ 147,375 $ 57,498 $ 31,738 $ — $ 236,611 Depreciation and amortization (1) 17,515 10,308 5,343 — 33,166 Three Months Ended March 31, 2015 Revenue: Third Party $ 1,046,079 $ 487,346 $ 240,487 $ — $ 1,773,912 Intersegment 94 — 735 (829 ) — Total segment revenue $ 1,046,173 $ 487,346 $ 241,222 $ (829 ) $ 1,773,912 Segment EBITDA $ 149,388 $ 46,523 $ 25,404 $ — $ 221,315 Depreciation and amortization (1) 17,265 8,351 5,053 — 30,669
Reconciliation Of Earnings Before Interest Taxes Depreciation And Amortization To Net Income Table [Text Block]	The table below provides a reconciliation from Segment EBITDA to Net Income (in thousands): Three Months Ended March 31, 2016 2015 Segment EBITDA $ 236,611 $ 221,315 Deduct: Restructuring and acquisition related expenses (1) 14,811 6,488 Change in fair value of contingent consideration liabilities (2) 73 151 Add: Equity in earnings of unconsolidated subsidiaries (362 ) (1,908 ) Gains on foreign exchange contracts - acquisition related (3) 18,342 — EBITDA $ 239,707 $ 212,768 Depreciation and amortization - cost of goods sold 1,478 1,216 Depreciation and amortization 31,688 29,453 Interest expense, net 14,592 14,906 Loss on debt extinguishment 26,650 — Provision for income taxes 57,567 60,098 Net income $ 107,732 $ 107,095 (1) See Note 4, "Restructuring and Acquisition Related Expenses ," for further information. (2) See Note 10, "Fair Value Measurements ," for further information on our contingent consideration liabilities.
Schedule Of Capital Expenditures By Reportable Segment	The following table presents capital expenditures by reportable segment (in thousands): Three Months Ended March 31, 2016 2015 Capital Expenditures North America $ 22,783 $ 15,403 Europe 19,107 7,869 Specialty 8,503 2,824 $ 50,393 $ 26,096
Schedule Of Assets By Reportable Segment	The following table presents assets by reportable segment (in thousands): March 31, December 31, 2016 2015 Receivables, net North America $ 338,326 $ 314,743 Europe (1) 440,650 215,710 Specialty 103,606 59,707 Total receivables, net 882,582 590,160 Inventory North America 822,103 847,787 Europe (1) 641,288 427,323 Specialty 319,406 281,442 Total inventory 1,782,797 1,556,552 Property and Equipment, net North America 477,019 467,961 Europe (1) 222,976 175,455 Specialty 58,646 53,151 Total property and equipment, net 758,641 696,567 Other unallocated assets 3,932,837 2,804,558 Total assets $ 7,356,857 $ 5,647,837
Schedule Of Revenue By Geographic Area	The following table sets forth our revenue by geographic area (in thousands): Three Months Ended March 31, 2016 2015 Revenue United States $ 1,284,967 $ 1,194,944 United Kingdom 349,676 343,607 Other countries 286,833 235,361 $ 1,921,476 $ 1,773,912
Schedule Of Tangible Long-Lived Assets By Geographic Area	The following table sets forth our tangible long-lived assets by geographic area (in thousands): March 31, December 31, 2016 2015 Long-lived Assets United States $ 506,481 $ 493,300 United Kingdom 149,104 138,546 Other countries 103,056 64,721 $ 758,641 $ 696,567
Schedule Of Revenue By Product Category	The following table sets forth our revenue by product category (in thousands): Three Months Ended March 31, 2016 2015 Aftermarket, other new and refurbished products $ 1,387,736 $ 1,246,471 Recycled, remanufactured and related products and services 430,589 398,445 Other 103,151 128,996 $ 1,921,476 $ 1,773,912

Condensed Consolidating Finan33

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2016
Condensed Consolidating Financial Information [Abstract]
Consolidated Condensed Balance Sheets	LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Balance Sheets (In thousands) March 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated Assets Current Assets: Cash and equivalents $ 43,999 $ 13,907 $ 171,314 $ — $ 229,220 Receivables, net 345 272,075 610,162 — 882,582 Intercompany receivables, net 2,695 — 5,585 (8,280 ) — Inventory — 1,067,784 715,013 — 1,782,797 Prepaid expenses and other current assets 1,283 44,324 53,681 — 99,288 Total Current Assets 48,322 1,398,090 1,555,755 (8,280 ) 2,993,887 Property and Equipment, net 304 507,853 250,484 — 758,641 Intangible Assets: Goodwill — 1,640,904 1,434,389 — 3,075,293 Other intangibles, net — 136,639 311,091 — 447,730 Investment in Subsidiaries 4,200,443 293,960 — (4,494,403 ) — Intercompany Notes Receivable 611,585 32,158 — (643,743 ) — Other Assets 39,104 27,306 20,568 (5,672 ) 81,306 Total Assets $ 4,899,758 $ 4,036,910 $ 3,572,287 $ (5,152,098 ) $ 7,356,857 Liabilities and Stockholders’ Equity Current Liabilities: Accounts payable $ 2,482 $ 253,466 341,878 $ — $ 597,826 Intercompany payables, net — 5,585 2,695 (8,280 ) — Accrued expenses: Accrued payroll-related liabilities 3,269 24,875 50,315 — 78,459 Other accrued expenses 15,885 77,709 139,694 — 233,288 Other current liabilities 23,464 16,802 24,206 — 64,472 Current portion of long-term obligations 16,284 1,540 57,541 — 75,365 Total Current Liabilities 61,384 379,977 616,329 (8,280 ) 1,049,410 Long-Term Obligations, Excluding Current Portion 1,567,271 6,425 1,169,501 — 2,743,197 Intercompany Notes Payable — 595,382 48,361 (643,743 ) — Deferred Income Taxes — 113,789 71,287 (5,672 ) 179,404 Other Noncurrent Liabilities 36,694 73,953 39,790 — 150,437 Stockholders’ Equity 3,234,409 2,867,384 1,627,019 (4,494,403 ) 3,234,409 Total Liabilities and Stockholders' Equity $ 4,899,758 $ 4,036,910 $ 3,572,287 $ (5,152,098 ) $ 7,356,857 LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Balance Sheets (In thousands) December 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated Assets Current Assets: Cash and equivalents $ 17,616 $ 13,432 $ 56,349 $ — $ 87,397 Receivables, net — 214,502 375,658 — 590,160 Intercompany receivables, net 3 — 13,544 (13,547 ) — Inventory — 1,060,834 495,718 — 1,556,552 Prepaid expenses and other current assets 15,254 44,810 46,539 — 106,603 Total Current Assets 32,873 1,333,578 987,808 (13,547 ) 2,340,712 Property and Equipment, net 339 494,658 201,570 — 696,567 Intangible Assets: Goodwill — 1,640,745 678,501 — 2,319,246 Other intangibles, net — 141,537 73,580 — 215,117 Investment in Subsidiaries 3,456,837 285,284 — (3,742,121 ) — Intercompany Notes Receivable 630,717 61,764 — (692,481 ) — Other Assets 35,649 28,184 18,218 (5,856 ) 76,195 Total Assets $ 4,156,415 $ 3,985,750 $ 1,959,677 $ (4,454,005 ) $ 5,647,837 Liabilities and Stockholders’ Equity Current Liabilities: Accounts payable $ 681 $ 229,519 $ 185,388 $ — $ 415,588 Intercompany payables, net — 13,544 3 (13,547 ) — Accrued expenses: Accrued payroll-related liabilities 4,395 48,698 33,434 — 86,527 Other accrued expenses 5,399 80,886 75,940 — 162,225 Other current liabilities 284 15,953 15,359 — 31,596 Current portion of long-term obligations 21,041 1,425 33,568 — 56,034 Total Current Liabilities 31,800 390,025 343,692 (13,547 ) 751,970 Long-Term Obligations, Excluding Current Portion 976,353 7,487 544,828 — 1,528,668 Intercompany Notes Payable — 615,488 76,993 (692,481 ) — Deferred Income Taxes — 113,905 19,190 (5,856 ) 127,239 Other Noncurrent Liabilities 33,580 70,109 21,589 — 125,278 Stockholders’ Equity 3,114,682 2,788,736 953,385 (3,742,121 ) 3,114,682 Total Liabilities and Stockholders’ Equity $ 4,156,415 $ 3,985,750 $ 1,959,677 $ (4,454,005 ) $ 5,647,837
Consolidated Condensed Statements of Income	LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Income (In thousands) For the Three Months Ended March 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated Revenue $ — $ 1,318,167 $ 635,637 $ (32,328 ) $ 1,921,476 Cost of goods sold — 795,240 398,127 (32,328 ) 1,161,039 Gross margin — 522,927 237,510 — 760,437 Facility and warehouse expenses — 115,210 42,395 — 157,605 Distribution expenses — 104,154 48,189 — 152,343 Selling, general and administrative expenses 10,379 126,668 81,271 — 218,318 Restructuring and acquisition related expenses — 4,036 10,775 — 14,811 Depreciation and amortization 36 20,544 11,108 — 31,688 Operating (loss) income (10,415 ) 152,315 43,772 — 185,672 Other expense (income): Interest expense, net 12,117 143 2,332 — 14,592 Intercompany interest (income) expense, net (10,677 ) 6,590 4,087 — — Loss on debt extinguishment 2,894 — 23,756 — 26,650 Change in fair value of contingent consideration liabilities — 34 39 — 73 Gains on foreign exchange contracts - acquisition related (18,342 ) — — — (18,342 ) Other income, net (111 ) (2,834 ) (17 ) — (2,962 ) Total other (income) expense, net (14,119 ) 3,933 30,197 — 20,011 Income before provision for income taxes 3,704 148,382 13,575 — 165,661 Provision for income taxes 1,423 53,445 2,699 — 57,567 Equity in earnings of unconsolidated subsidiaries (795 ) 5 428 — (362 ) Equity in earnings of subsidiaries 106,246 11,942 — (118,188 ) — Net income $ 107,732 $ 106,884 $ 11,304 $ (118,188 ) $ 107,732 LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Income (In thousands) For the Three Months Ended March 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated Revenue $ — $ 1,225,908 $ 582,943 $ (34,939 ) $ 1,773,912 Cost of goods sold — 740,803 368,569 (34,939 ) 1,074,433 Gross margin — 485,105 214,374 — 699,479 Facility and warehouse expenses — 97,761 34,896 — 132,657 Distribution expenses — 95,992 45,722 — 141,714 Selling, general and administrative expenses 7,631 121,662 73,948 — 203,241 Restructuring and acquisition related expenses — 6,060 428 — 6,488 Depreciation and amortization 40 19,891 9,522 — 29,453 Operating (loss) income (7,671 ) 143,739 49,858 — 185,926 Other expense (income): Interest expense, net 12,314 43 2,549 — 14,906 Intercompany interest (income) expense, net (10,823 ) 7,259 3,564 — — Change in fair value of contingent consideration liabilities — 55 96 — 151 Other expense (income), net 25 (1,790 ) 3,533 — 1,768 Total other expense, net 1,516 5,567 9,742 — 16,825 (Loss) income before (benefit) provision for income taxes (9,187 ) 138,172 40,116 — 169,101 (Benefit) provision for income taxes (3,755 ) 55,777 8,076 — 60,098 Equity in earnings of unconsolidated subsidiaries — 11 (1,919 ) — (1,908 ) Equity in earnings of subsidiaries 112,527 7,260 — (119,787 ) — Net income $ 107,095 $ 89,666 $ 30,121 $ (119,787 ) $ 107,095
Consolidated Condensed Statements of Comprehensive Income (Loss)	LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Comprehensive Income (In thousands) For the Three Months Ended March 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated Net income $ 107,732 $ 106,884 $ 11,304 $ (118,188 ) $ 107,732 Other comprehensive income (loss): Foreign currency translation 140 (2,855 ) (3,039 ) 5,894 140 Net change in unrecognized gains/losses on derivative instruments, net of tax 432 — 96 (96 ) 432 Net change in unrealized gains/losses on pension plan, net of tax 147 — 147 (147 ) 147 Total other comprehensive income (loss) 719 (2,855 ) (2,796 ) 5,651 719 Total comprehensive income $ 108,451 $ 104,029 $ 8,508 $ (112,537 ) $ 108,451 LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Comprehensive Income (In thousands) For the Three Months Ended March 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated Net income $ 107,095 $ 89,666 $ 30,121 $ (119,787 ) $ 107,095 Other comprehensive (loss) income: Foreign currency translation (54,810 ) (14,372 ) (52,799 ) 67,171 (54,810 ) Net change in unrecognized gains/losses on derivative instruments, net of tax 283 — (62 ) 62 283 Change in unrealized gain on pension plan, net of tax 128 — 128 (128 ) 128 Total other comprehensive loss (54,399 ) (14,372 ) (52,733 ) 67,105 (54,399 ) Total comprehensive income (loss) $ 52,696 $ 75,294 $ (22,612 ) $ (52,682 ) $ 52,696
Consolidated Condensed Statements of Cash Flows	LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Cash Flows (In thousands) For the Three Months Ended March 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by operating activities $ 65,092 $ 77,907 $ 13,437 $ (26,229 ) $ 130,207 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment — (29,710 ) (20,683 ) — (50,393 ) Investment and intercompany note activity with subsidiaries (646,019 ) — — 646,019 — Acquisitions, net of cash acquired — — (603,735 ) — (603,735 ) Proceeds from foreign exchange contracts 18,342 — — — 18,342 Other investing activities, net — 188 10,574 — 10,762 Net cash used in investing activities (627,677 ) (29,522 ) (613,844 ) 646,019 (625,024 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from exercise of stock options 3,202 — — — 3,202 Excess tax benefit from stock-based payments 4,637 — — — 4,637 Taxes paid related to net share settlements of stock-based compensation awards (2,281 ) — — — (2,281 ) Debt issuance costs (5,907 ) — — — (5,907 ) Borrowings under revolving credit facilities 544,000 — 599,217 — 1,143,217 Repayments under revolving credit facilities (44,000 ) — (301,609 ) — (345,609 ) Borrowings under term loans 89,317 — 249,161 — 338,478 Borrowings under receivables securitization facility — — 97,000 — 97,000 Repayments under receivables securitization facility — — (63,000 ) — (63,000 ) (Repayments) borrowings of other debt, net — (946 ) 13,796 — 12,850 Repayment of Rhiag debt and related payments — — (543,347 ) — (543,347 ) Payments of other obligations — (1,437 ) — — (1,437 ) Investment and intercompany note activity with parent — (20,106 ) 666,125 (646,019 ) — Dividends — (25,069 ) (1,160 ) 26,229 — Net cash provided by (used in) financing activities 588,968 (47,558 ) 716,183 (619,790 ) 637,803 Effect of exchange rate changes on cash and equivalents — (352 ) (811 ) — (1,163 ) Net increase in cash and equivalents 26,383 475 114,965 — 141,823 Cash and equivalents, beginning of period 17,616 13,432 56,349 — 87,397 Cash and equivalents, end of period $ 43,999 $ 13,907 $ 171,314 $ — $ 229,220 LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Cash Flows (In thousands) For the Three Months Ended March 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by operating activities $ 110,976 $ 105,119 $ 33,305 $ (69,255 ) $ 180,145 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (4 ) (17,731 ) (8,361 ) — (26,096 ) Investment and intercompany note activity with subsidiaries 18,167 — — (18,167 ) — Acquisitions, net of cash acquired — (764 ) (100 ) — (864 ) Other investing activities, net — 74 (7,390 ) — (7,316 ) Net cash provided by (used in) investing activities 18,163 (18,421 ) (15,851 ) (18,167 ) (34,276 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from exercise of stock options 1,318 — — — 1,318 Excess tax benefit from stock-based payments 5,201 — — — 5,201 Taxes paid related to net share settlements of stock-based compensation awards (5,243 ) — — — (5,243 ) Borrowings under revolving credit facilities 38,000 — 47,030 — 85,030 Repayments under revolving credit facilities (118,000 ) — (37,073 ) — (155,073 ) Borrowings under term loans — — — — — Repayments under term loans (5,625 ) — — — (5,625 ) Borrowings under receivables securitization facility — — 2,100 — 2,100 Repayments of other debt, net (44 ) (504 ) (6,028 ) — (6,576 ) Payments of other obligations — (1,544 ) — — (1,544 ) Investment and intercompany note activity with parent — (18,779 ) 612 18,167 — Dividends — (69,255 ) — 69,255 — Net cash (used in) provided by financing activities (84,393 ) (90,082 ) 6,641 87,422 (80,412 ) Effect of exchange rate changes on cash and equivalents — 169 (4,739 ) — (4,570 ) Net increase (decrease) in cash and equivalents 44,746 (3,215 ) 19,356 — 60,887 Cash and equivalents, beginning of period 14,930 32,103 67,572 — 114,605 Cash and equivalents, end of period $ 59,676 $ 28,888 $ 86,928 $ — $ 175,492

Business Combinations - Additio

Business Combinations - Additional Information (Details) $ in Thousands, € in Millions	Apr. 21, 2016USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2016EUR (€)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Mar. 31, 2016EUR (€)
Business Acquisition
Cash used in acquisitions, net of cash acquired		$ 603,735		$ 864
Gains on foreign exchange contracts - acquisition related		(18,342)		0
Goodwill		3,075,293			$ 2,319,246
Restructuring and acquisition related expenses		14,811		6,488
Acquisition-related expenses
Business Acquisition
Restructuring and acquisition related expenses		12,700		$ 500
North America
Business Acquisition
Goodwill		1,452,532			$ 1,445,850
Wholesale North America Segment
Business Acquisition
Number of acquisitions					4
Europe
Business Acquisition
Number of acquisitions					12
Goodwill		1,344,642			$ 594,482
Specialty
Business Acquisition
Goodwill		278,119			$ 278,914
PGW | Acquisition-related expenses
Business Acquisition
Restructuring and acquisition related expenses		1,800
PGW | Subsequent Event
Business Acquisition
Cash used in acquisitions, net of cash acquired	$ 660,300
Rhiag
Business Acquisition
Business Combination, Consideration Transferred		602,000	€ 534.2
Cash used in acquisitions, net of cash acquired		601,416	€ 533.6
Notes issued		0
Other purchase price obligations		0
Settlement of pre-existing balances		591				€ 0.6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Debt		550,843				€ 488.8
Gains on foreign exchange contracts - acquisition related		(18,300)
Goodwill		739,741
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual		33,900
Business Combination, Pro Forma Information, Operating Income or Loss of Acquiree since Acquisition Date, Actual		3,400
Business Combination, Acquisition Related Costs		6,200
Rhiag | Acquisition-related expenses
Business Acquisition
Restructuring and acquisition related expenses		10,700
Rhiag | Forward Contracts
Business Acquisition
Derivative, Notional Amount		588,000
All 2015 Acquisitions
Business Acquisition
Number of acquisitions					18
Business Combination, Consideration Transferred					$ 187,900
Cash used in acquisitions, net of cash acquired					161,300
Notes issued					(4,296)
Other purchase price obligations					21,199
Settlement of pre-existing balances					1,073
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Debt					2,365
Goodwill expected to be deductible for income tax purposes					69,900
Goodwill					$ 92,175
Netherlands Distributors | Europe
Business Acquisition
Number of acquisitions					11
Netherlands Distributors Former Customers
Business Acquisition
Number of acquisitions					9
All 2016 Acquisitions Excluding Rhiag
Business Acquisition
Notes issued		(234)
Other purchase price obligations		0
Settlement of pre-existing balances		0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Debt		0
Goodwill		$ 2,391

Purchase Price Allocations for

Purchase Price Allocations for Acquisitions (Details) $ in Thousands, € in Millions	Mar. 31, 2016USD ($)	Mar. 31, 2016EUR (€)	Dec. 31, 2015USD ($)
Business Acquisition
Goodwill	$ 3,075,293		$ 2,319,246
All 2016 Acquisitions
Business Acquisition
Receivables	234,337
Receivable reserves	(23,066)
Inventory	240,177
Prepaid expenses and other current assets	(13,730)
Property and equipment	35,303
Goodwill	742,132
Other intangibles	238,555
Other assets	(1,690)
Deferred income taxes	(51,729)
Current liabilities assumed	(252,810)
Debt assumed	(550,843)
Other noncurrent liabilities assumed	(22,916)
Other purchase price obligations	0
Notes issued	(234)
Settlement of pre-existing balances	(591)
Cash used in acquisitions, net of cash acquired	603,735
All 2016 Acquisitions Excluding Rhiag
Business Acquisition
Receivables	561
Receivable reserves	(18)
Inventory	675
Prepaid expenses and other current assets	(13)
Property and equipment	21
Goodwill	2,391
Other intangibles	0
Other assets	(411)
Deferred income taxes	(215)
Current liabilities assumed	(438)
Debt assumed	0
Other noncurrent liabilities assumed	0
Other purchase price obligations	0
Notes issued	(234)
Settlement of pre-existing balances	0
Cash used in acquisitions, net of cash acquired	2,319
Rhiag
Business Acquisition
Receivables	233,776
Receivable reserves	(23,048)
Inventory	239,502
Prepaid expenses and other current assets	(13,743)
Property and equipment	35,282
Goodwill	739,741
Other intangibles	238,555
Other assets	(2,101)
Deferred income taxes	(51,514)
Current liabilities assumed	(252,372)
Debt assumed	(550,843)	€ (488.8)
Other noncurrent liabilities assumed	(22,916)
Other purchase price obligations	0
Notes issued	0
Settlement of pre-existing balances	(591)	€ (0.6)
Cash used in acquisitions, net of cash acquired	$ 601,416
All 2015 Acquisitions
Business Acquisition
Receivables			29,628
Receivable reserves			(3,926)
Inventory			79,646
Prepaid expenses and other current assets			(3,337)
Property and equipment			11,989
Goodwill			92,175
Other intangibles			9,926
Other assets			(5,166)
Deferred income taxes			4,102
Current liabilities assumed			(39,191)
Debt assumed			(2,365)
Other noncurrent liabilities assumed			(2,651)
Other purchase price obligations			(21,199)
Notes issued			(4,296)
Settlement of pre-existing balances			(1,073)
Cash used in acquisitions, net of cash acquired			$ 161,268

Pro Forma Effect of Businesses

Pro Forma Effect of Businesses Acquired (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Business Acquisition
Revenue, as reported		$ 1,921,476	$ 1,773,912
Pro forma revenue		2,135,020	2,103,548
Net income		107,732	107,095
Pro forma net income		$ 119,701	$ 115,049
Pro forma earnings per share, basic (1)	[1]	$ 0.39	$ 0.38
Earnings per share, diluted	[2]	0.35	0.35
Pro forma earnings per share, diluted (1)	[1]	$ 0.39	$ 0.37
Restructuring and acquisition related expenses		$ 14,811	$ 6,488
Earnings per share, basic	[2]	$ 0.35	$ 0.35
Acquisition-related expenses
Business Acquisition
Restructuring and acquisition related expenses		$ 12,700	$ 500
Rhiag
Business Acquisition
Revenue of purchased businesses for the period prior to acquisition		213,376	235,302
Net income of purchased businesses for the period prior to acquisition, including pro forma purchase accounting adjustments		$ 4,597	$ 5,254
Effect of purchased businesses for the period prior to acquisition		$ 0.02	$ 0.02
Effect of purchased businesses for the period prior to acquisition		$ 0.01	$ 0.02
Rhiag | Acquisition-related expenses
Business Acquisition
Restructuring and acquisition related expenses		$ 10,700
All 2016 Acquisitions Excluding Rhiag
Business Acquisition
Revenue of purchased businesses for the period prior to acquisition		168
Net income of purchased businesses for the period prior to acquisition, including pro forma purchase accounting adjustments		$ 11
Effect of purchased businesses for the period prior to acquisition		$ 0
Effect of purchased businesses for the period prior to acquisition		$ 0
All 2016 and 2015 Acquisitions Excluding Rhiag
Business Acquisition
Revenue of purchased businesses for the period prior to acquisition			$ 94,334
Net income of purchased businesses for the period prior to acquisition, including pro forma purchase accounting adjustments			$ 2,700
Effect of purchased businesses for the period prior to acquisition			$ 0.01
Effect of purchased businesses for the period prior to acquisition			$ 0.01
All 2015 Acquisitions
Business Acquisition
Acquisition related costs, net of tax			$ 0
Business Acquisition Pro Forma Income Loss From Acquisition Related Costs, Net of Tax, Per Basic Share Effect			$ 0
Business Acquisition Pro Forma Income Loss From Acquisition Related Costs, Net of Tax, Per Diluted Share Effect			$ 0
All 2016 Acquisitions
Business Acquisition
Acquisition related costs, net of tax		$ 7,361
Business Acquisition Pro Forma Income Loss From Acquisition Related Costs, Net of Tax, Per Basic Share Effect		$ 0.02
Business Acquisition Pro Forma Income Loss From Acquisition Related Costs, Net of Tax, Per Diluted Share Effect		$ 0.02
[1]	The sum of the individual earnings per share amounts may not equal the total due to rounding.
[2]	{F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjFkMjI4OTk0NGM4NDQ2ZjBiZmZkMWJlNmVjYTBiODMwfFRleHRTZWxlY3Rpb246RjUyRTVENkVGREQzMUEzMTIzN0UzMkZEMkU3MDAzNUYM}

Financial Statement Informati37

Financial Statement Information - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Reserve for estimated returns, discounts and allowances	$ 37,800		$ 32,800
Reserve for uncollectible accounts	47,000		24,600
Finite-lived intangible assets, gross	565,017		323,001
Amortization expense	8,900	$ 8,300
Estimated annual amortization expense in year one	48,000
Estimated annual amortization expense in year two	56,600
Estimated annual amortization expense in year three	48,000
Estimated annual amortization expense in year four	43,300
Estimated annual amortization expense in year five	28,600
Depreciation	24,300	$ 22,400
Trade names and trademarks
Finite-lived intangible assets, gross	$ 216,027		172,219
Trade names and trademarks | Minimum
Useful life, years	4 years
Trade names and trademarks | Maximum
Useful life, years	30 years
Customer and supplier relationships
Finite-lived intangible assets, gross	$ 287,857		95,508
Customer and supplier relationships | Minimum
Useful life, years	4 years
Customer and supplier relationships | Maximum
Useful life, years	20 years
Software and technology related assets
Finite-lived intangible assets, gross	$ 50,437		44,500
Software and technology related assets | Minimum
Useful life, years	3 years
Software and technology related assets | Maximum
Useful life, years	6 years
Covenants not to compete
Finite-lived intangible assets, gross	$ 10,696		$ 10,774
Covenants not to compete | Minimum
Useful life, years	1 year
Covenants not to compete | Maximum
Useful life, years	5 years
Rhiag
Reserve for uncollectible accounts	$ 23,000
Rhiag | Trade names and trademarks
Finite-lived intangible assets, gross	43,300
Rhiag | Customer and supplier relationships
Finite-lived intangible assets, gross	190,500
Rhiag | Software and technology related assets
Finite-lived intangible assets, gross	$ 4,800
Salvage mechanical products
Standard warranty period	6 months
Remanufactured engines
Standard warranty period	3 years

Financial Statement Informati38

Financial Statement Information Schedule of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Product Information
Inventory	$ 1,782,797	$ 1,556,552
Aftermarket and refurbished products
Product Information
Inventory	1,374,368	1,146,162
Inventory	239,500
Salvage and remanufactured products
Product Information
Inventory	408,429	$ 410,390
Inventory	$ 700

Changes in Carrying Amount of G

Changes in Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 2,319,246
Business acquisitions and adjustments to previously recorded goodwill	742,132
Exchange rate effects	13,915
Goodwill, ending balance	3,075,293
North America
Goodwill [Roll Forward]
Goodwill, beginning balance	1,445,850
Business acquisitions and adjustments to previously recorded goodwill	555
Exchange rate effects	6,127
Goodwill, ending balance	1,452,532
Europe
Goodwill [Roll Forward]
Goodwill, beginning balance	594,482
Business acquisitions and adjustments to previously recorded goodwill	742,023
Exchange rate effects	8,137
Goodwill, ending balance	1,344,642
Specialty
Goodwill [Roll Forward]
Goodwill, beginning balance	278,914
Business acquisitions and adjustments to previously recorded goodwill	(446)
Exchange rate effects	(349)
Goodwill, ending balance	278,119
Rhiag
Goodwill [Roll Forward]
Goodwill, ending balance	$ 739,741

Components of Other Intangibles

Components of Other Intangibles (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets
Finite-lived intangible assets, gross	$ 565,017	$ 323,001
Accumulated amortization	(117,287)	(107,884)
Net	447,730	215,117
Trade names and trademarks
Finite-Lived Intangible Assets
Finite-lived intangible assets, gross	216,027	172,219
Accumulated amortization	(45,803)	(43,458)
Net	170,224	128,761
Customer and supplier relationships
Finite-Lived Intangible Assets
Finite-lived intangible assets, gross	287,857	95,508
Accumulated amortization	(45,013)	(41,007)
Net	242,844	54,501
Software and technology related assets
Finite-Lived Intangible Assets
Finite-lived intangible assets, gross	50,437	44,500
Accumulated amortization	(20,388)	(17,844)
Net	30,049	26,656
Covenants not to compete
Finite-Lived Intangible Assets
Finite-lived intangible assets, gross	10,696	10,774
Accumulated amortization	(6,083)	(5,575)
Net	$ 4,613	$ 5,199

Changes in Warranty Reserve (De

Changes in Warranty Reserve (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Warranty Reserve [Roll Forward]
Warranty reserve, beginning balance	$ 17,363
Warranty expense	8,804
Warranty claims	(7,451)
Warranty reserve, ending balance	$ 18,716

Restructuring and Acquisition42

Restructuring and Acquisition Related Expenses - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Restructuring Cost and Reserve
Restructuring and acquisition related expenses	$ 14,811	$ 6,488
Acquisition-related expenses
Restructuring Cost and Reserve
Restructuring and acquisition related expenses	12,700	500
Restructuring expenses
Restructuring Cost and Reserve
Restructuring and acquisition related expenses	2,100	$ 6,000
Restructuring expenses | Maximum
Restructuring Cost and Reserve
Expected additional charges	9,000
Rhiag | Acquisition-related expenses
Restructuring Cost and Reserve
Restructuring and acquisition related expenses	10,700
PGW | Acquisition-related expenses
Restructuring Cost and Reserve
Restructuring and acquisition related expenses	1,800
All 2016 Acquisitions Excluding Rhiag and PGW | Acquisition-related expenses
Restructuring Cost and Reserve
Restructuring and acquisition related expenses	$ 200

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)shares
RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares that RSUs convert into on the applicable vesting date | shares	1
RSUs granted during the period | shares	745,810
Fair value of RSUs or restricted stock vested during the period	$ 15.1
Unrecognized stock-based compensation expense	$ 44.3
Expected term for unrecognized stock-based compensation expense expected to be recognized	3 years 5 months
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized stock-based compensation expense	$ 0.2
Expected term for unrecognized stock-based compensation expense expected to be recognized	9 months 20 days
Minimum | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Stock options expiration period	6 years
Maximum | RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period	5 years
Maximum | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period	5 years
Stock options expiration period	10 years

Stock-Based Compensation Schedu

Stock-Based Compensation Schedule of Unvested Restricted Stock Units Activity (Details) - RSUs - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Summary of Expected to Vest RSUs [Line Items]
Unvested RSUs, shares	2,132,414	1,981,292
RSUs granted, shares	745,810
RSUs vested, shares	(574,496)
RSUs forfeited/canceled, shares	(20,192)
RSUs expected to vest, shares	2,061,532
Unvested RSUs, weighted average grant date fair value	$ 26.35	$ 24.19
RSUs granted, weighted average grant date fair value	27.88
RSUs vested, weighted average grant date fair value	20.85
RSUs forfeited/canceled, weighted average grant date fair value	26.39
RSUs expected to vest, weighted average grant date fair value	$ 26.32
Unvested RSUs, aggregate intrinsic value	$ 68,088	$ 58,706
RSUs expected to vest, aggregate intrinsic value	$ 65,825

Stock-Based Compensation Sche45

Stock-Based Compensation Schedule of Stock Option Activity (Details) - Stock Options - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Stock options outstanding, shares	3,301,560	3,765,952
Stock options exercised, shares	(459,610)
Stock options forfeited/canceled, shares	(4,782)
Exercisable stock options, shares	3,214,006
Exercisable and expected to vest stock options, shares	3,292,805
Stock options outstanding, weighted average exercise price	$ 8.83	$ 8.63
Stock options exercised, weighted average exercise price	6.96
Stock options forfeited/canceled, weighted average exercise price	31.38
Exercisable stock options, weighted average exercise price	8.19
Exercisable and expected to vest stock options, weighted average exercise price	$ 8.77
Stock options outstanding, weighted average remaining contractual term (years)	2 years 9 months 15 days	2 years 10 months 25 days
Exercisable stock options, weighted average remaining contractual term (years)	2 years 9 months 4 days
Share-based compensation arrangement by share-based payment award, options, vested and expected to vest, outstanding, weighted average remaining contractual term	2 years 9 months 15 days
Stock options outstanding, aggregate intrinsic value	$ 76,288	$ 79,317
Exercisable stock options, aggregate intrinsic value	76,288
Exercisable and expected to vest stock options, aggregate intrinsic value	$ 76,288

Schedule of Pre-Tax Stock-Based

Schedule of Pre-Tax Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 5,916	$ 5,546
RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	5,879	5,420
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 37	$ 126

Computation of Earnings Per Sha

Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net income		$ 107,732	$ 107,095
Denominator for basic earnings per share—Weighted-average shares outstanding		306,157	304,003
Effect of dilutive securities:
RSUs		521	668
Stock options		1,691	2,290
Denominator for diluted earnings per share—Adjusted weighted-average shares outstanding		308,369	306,961
Earnings per share, basic	[1]	$ 0.35	$ 0.35
Earnings per share, diluted	[1]	$ 0.35	$ 0.35
[1]	{F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjFkMjI4OTk0NGM4NDQ2ZjBiZmZkMWJlNmVjYTBiODMwfFRleHRTZWxlY3Rpb246RjUyRTVENkVGREQzMUEzMTIzN0UzMkZEMkU3MDAzNUYM}

Schedule of Antidilutive Securi

Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities	225	336
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities	88	100

Accumulated Other Comprehensi49

Accumulated Other Comprehensive Income (Loss) Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest Rate Swap
Schedule of Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	$ 0.8	$ 1.5

Accumulated Other Comprehensi50

Accumulated Other Comprehensive Income (Loss) Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 105,470	$ 40,225
Foreign currency translation	140	(54,810)
Pre-tax income accumulated comprehensive income	(25)	(55,884)
Income tax effect	49	370
Reclassification of unrealized gain (loss)	1,003	1,692
Reclassification of deferred income taxes	(308)	(577)
Ending Balance	104,751	94,624
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	96,890	27,073
Foreign currency translation	140	(54,810)
Ending Balance	96,750	81,883
Unrealized (Loss) Gain on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	932	3,401
Pre-tax income accumulated comprehensive income	(165)	(1,074)
Income tax effect	49	370
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(807)	(1,522)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax	(259)	(535)
Ending Balance	500	3,118
Unrealized (Loss) Gain on Pension Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax	7,648	9,751
Reclassification of unrealized gain (loss)	196	170
Reclassification of deferred income taxes	(49)	(42)
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax	7,501	9,623
Interest Rate Swap
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	$ (800)	$ (1,500)

Schedule of Long-Term Obligatio

Schedule of Long-Term Obligations (Parenthetical) (Details)	Mar. 31, 2016	Dec. 31, 2015
Notes Payable
Debt Instrument
Weighted average interest rate	1.70%	2.20%
Other Long-Term Debt
Debt Instrument
Weighted average interest rate	1.80%	2.40%

Long-Term Obligations - Additio

Long-Term Obligations - Additional Information (Details) $ in Thousands, € in Millions	Mar. 24, 2016USD ($)	Mar. 24, 2016EUR (€)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Apr. 14, 2016EUR (€)	Mar. 31, 2016EUR (€)	Mar. 24, 2016EUR (€)	Jan. 29, 2016USD ($)	Jan. 29, 2016EUR (€)	Dec. 31, 2015USD ($)	Sep. 29, 2014USD ($)	Mar. 27, 2014USD ($)	May. 09, 2013USD ($)
Debt Instrument
Term loan quarterly repayment, percentage of initial balance								0.625%	0.625%
Term Loan Quarterly Repayment, Percentage								1.25%	1.25%
Outstanding letters of credit			$ 65,800
Loss on debt extinguishment			$ 26,650	$ 0
Credit Agreement
Debt Instrument
Increment change in applicable margin								0.25%	0.25%
Weighted average interest rate			2.00%			2.00%				1.80%
Increment change in commitment fees								0.05%	0.05%
Fronting fee on letters of credit in addition to participation commission								0.125%	0.125%
Availability on the revolving credit facility			$ 1,100,000
Term Loan
Debt Instrument
Term loans payable			761,707							$ 410,625
Current maturities of credit agreement			23,800							22,500
Senior Notes
Debt Instrument
Senior notes			$ 600,000							600,000			$ 600,000
Senior notes interest rate													4.75%
Receivables Securitization Facility
Debt Instrument
Weighted average interest rate			1.30%			1.30%
Receivables securitization maximum borrowing capacity											$ 97,000
Receivables used as collateral for receivables securitization facility			$ 140,800							136,100
Borrowings under receivable securitization facility, carrying value			97,000							$ 63,000
Fourth Amended Credit Agreement | Credit Agreement
Debt Instrument
Maximum Credit Agreement Borrowings								$ 3,200,000
Term loans payable								750,000
Payments of financing costs			5,900
Fees capitalized			4,800
Loss on debt extinguishment			1,100
Fourth Amended Credit Agreement | Credit Agreement | Multicurrency Component
Debt Instrument
Maximum revolving credit facility borrowings								2,450,000
Fourth Amended Credit Agreement | USD Term Loan
Debt Instrument
Term loans payable								$ 500,000
Fourth Amended Credit Agreement | EURO Term Loan
Debt Instrument
Term loans payable | €									€ 230
Third Amended Credit Agreement | Credit Agreement
Debt Instrument
Maximum Credit Agreement Borrowings												$ 2,300,000
Loss on debt extinguishment			1,800
Rhiag
Debt Instrument
Debt Incurred under Line of Credit Facility, Used to Repay Debt Acquired	$ 508,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Debt			$ 550,843			€ 488.8
Rhiag | Senior Notes
Debt Instrument
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Debt	519,600						€ 465
Accrued interest	8,000	€ 7.1
Payments of Debt Extinguishment Costs	23,800	21.2
Interest Rate Swap | Rhiag | Senior Notes
Debt Instrument
Payments for Derivative Instrument, Financing Activities	$ 4,900	€ 4.4
Subsequent Event | Euro Notes
Debt Instrument
Senior notes | €					€ 500
Senior notes interest rate					3.875%

Schedule of Long-Term Obligat53

Schedule of Long-Term Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jan. 29, 2016	Dec. 31, 2015	Mar. 27, 2014	May. 09, 2013
Debt Instrument
Long-Term Obligations, Total	$ 2,836,700		$ 1,599,695
Deferred Finance Costs, Current, Net	(1,040)		(1,460)
Deferred Finance Costs, Noncurrent, Net	(17,098)		(13,533)
Debt and Capital Lease Obligations, Net	2,818,562		1,584,702
Long-term Debt and Capital Lease Obligations, Current, Net	75,365		56,034
Long-Term Obligations, Excluding Current Portion	2,743,197		1,528,668
Term Loan
Debt Instrument
Term loans payable	761,707		410,625
Revolving Credit Facility
Debt Instrument
Revolving credit facilities	1,291,622		480,481
Senior Notes
Debt Instrument
Senior notes	600,000		600,000		$ 600,000
Receivables Securitization Facility
Debt Instrument
Receivables securitization facility	97,000		63,000
Notes Payable
Debt Instrument
Notes payable	18,622		16,104
Other Long-Term Debt
Debt Instrument
Other long-term debt	$ 67,749		$ 29,485
Third Amended Credit Agreement | Credit Agreement
Debt Instrument
Maximum Credit Agreement Borrowings				$ 2,300,000
Fourth Amended Credit Agreement | Credit Agreement
Debt Instrument
Maximum Credit Agreement Borrowings		$ 3,200,000
Term loans payable		$ 750,000

Derivative Instruments and He54

Derivative Instruments and Hedging Activities - Additional Information (Details) $ in Millions	Mar. 31, 2016USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net loss included in accumulated other comprehensive income (loss) to be reclassified into interest expense within the next 12 months	$ 0.5

Schedule of Cash Flow Hedges (D

Schedule of Cash Flow Hedges (Details) £ in Thousands, CAD in Thousands, $ in Thousands	Mar. 31, 2016GBP (£)	Mar. 31, 2016USD ($)	Mar. 31, 2016CAD	Dec. 31, 2015GBP (£)	Dec. 31, 2015USD ($)	Dec. 31, 2015CAD
Derivative
Derivative Asset, Noncurrent		$ 1,800
Derivative Liability, Current		1,110			$ 1,347
Derivative Liability, Noncurrent		1,364
Interest Rate Swap | US Dollar Notional Amount
Derivative
Derivative, Notional Amount		610,000			170,000
Derivative Asset, Noncurrent		1,800
Derivative Liability, Current		760			858
Derivative Liability, Noncurrent		1,364
Interest Rate Swap | US Dollar Notional Amount | Derivative Contract Entered
Derivative
Derivative, Notional Amount		440,000
Interest Rate Swap | Pound Sterling Notional Amount
Derivative
Derivative, Notional Amount | £	£ 50,000			£ 50,000
Derivative Liability, Current		350			465
Derivative Liability, Noncurrent		0
Interest Rate Swap | Canadian Dollar Notional Amount
Derivative
Derivative, Notional Amount | CAD			CAD 0			CAD 25,000
Derivative Liability, Current		$ 0			$ 24

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	May. 09, 2013
Fair Value Measurements
Portion of change in fair value included in earnings related to contingent consideration obligations outstanding at period end	$ 73	$ 151
Contingent Consideration Liabilities
Fair Value Measurements
Portion of change in fair value included in earnings related to contingent consideration obligations outstanding at period end	100	$ 200
Credit Agreement
Fair Value Measurements
Borrowings under credit agreement, carrying value	2,100,000		$ 891,100
Receivables Securitization Facility
Fair Value Measurements
Borrowings under receivable securitization facility, carrying value	97,000		63,000
Senior Notes
Fair Value Measurements
Debt instrument, fair value	576,000		567,000
Debt instrument, carrying value	$ 600,000		$ 600,000	$ 600,000

Financial Assets and Liabilitie

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value assets measured on recurring basis	$ 33,434	$ 29,782
Fair value liabilities measured on recurring basis	38,079	36,267
Cash surrender value of life insurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value assets measured on recurring basis	31,634	29,782
Contingent consideration liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value liabilities measured on recurring basis	3,079	4,584
Deferred compensation liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value liabilities measured on recurring basis	32,526	30,336
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value assets measured on recurring basis	1,800
Fair value liabilities measured on recurring basis	2,474	1,347
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value assets measured on recurring basis	33,434	29,782
Fair value liabilities measured on recurring basis	35,000	31,683
Fair Value, Inputs, Level 2 | Cash surrender value of life insurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value assets measured on recurring basis	31,634	29,782
Fair Value, Inputs, Level 2 | Deferred compensation liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value liabilities measured on recurring basis	32,526	30,336
Fair Value, Inputs, Level 2 | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value assets measured on recurring basis	1,800
Fair value liabilities measured on recurring basis	2,474	1,347
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value liabilities measured on recurring basis	3,079	4,584
Fair Value, Inputs, Level 3 | Contingent consideration liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value liabilities measured on recurring basis	$ 3,079	$ 4,584

Changes in Fair Value of Contin

Changes in Fair Value of Contingent Consideration Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Contingent Consideration Obligations [Roll Forward]
Beginning balance	$ 4,584	$ 7,295
Payments	(1,667)	(1,667)
Increase (decrease) in fair value included in earnings	73	151
Exchange rate effects	89	(218)
Ending balance	$ 3,079	$ 5,561

Future Minimum Lease Commitment

Future Minimum Lease Commitments (Details) $ in Thousands	Mar. 31, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year	$ 132,950
2,017	150,877
2,018	125,921
2,019	101,707
2,020	83,547
2,021	61,165
Thereafter	255,301
Future Minimum Lease Payments	$ 911,468

Income Taxes Income Taxes - Add

Income Taxes Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Effective Income Tax Rate Reconciliation, Amount [Abstract] [Abstract]
Effective income tax rate	34.80%	35.50%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		$ 0.7

Segment and Geographic Inform61

Segment and Geographic Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2016
Segment Reporting Information
Number of operating segments	4
Number of reportable segments	3
North America
Segment Reporting Information
Number of reportable segments	1

Schedule of Financial Performan

Schedule of Financial Performance by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information
Revenue	$ 1,921,476	$ 1,773,912
Segment EBITDA	236,611	221,315
Depreciation and amortization	33,166	30,669
North America
Segment Reporting Information
Revenue	1,087,577	1,046,173
Segment EBITDA	147,375	149,388
Depreciation and amortization	17,515	17,265
Europe
Segment Reporting Information
Revenue	546,761	487,346
Segment EBITDA	57,498	46,523
Depreciation and amortization	10,308	8,351
Specialty
Segment Reporting Information
Revenue	288,313	241,222
Segment EBITDA	31,738	25,404
Depreciation and amortization	5,343	5,053
Intersegment Eliminations
Segment Reporting Information
Revenue	(1,175)	(829)
Third Party | North America
Segment Reporting Information
Revenue	1,087,363	1,046,079
Third Party | Europe
Segment Reporting Information
Revenue	546,751	487,346
Third Party | Specialty
Segment Reporting Information
Revenue	287,362	240,487
Intersegment | North America
Segment Reporting Information
Revenue	214	94
Intersegment | Europe
Segment Reporting Information
Revenue	10
Intersegment | Specialty
Segment Reporting Information
Revenue	951	735
Intersegment | Intersegment Eliminations
Segment Reporting Information
Revenue	$ (1,175)	$ (829)

Reconciliation Of Segment EBITD

Reconciliation Of Segment EBITDA To Net Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting [Abstract]
Segment EBITDA	$ 236,611	$ 221,315
Restructuring and acquisition related expenses	14,811	6,488
Change in fair value of contingent consideration liabilities	(73)	(151)
Equity in earnings of unconsolidated subsidiaries	(362)	(1,908)
Gains on foreign exchange contracts - acquisition related	18,342
EBITDA	239,707	212,768
Depreciation and amortization - cost of goods sold	1,478	1,216
Depreciation and amortization	31,688	29,453
Interest expense, net	14,592	14,906
Loss on debt extinguishment	(26,650)	0
Provision for income taxes	57,567	60,098
Net income	$ 107,732	$ 107,095

Schedule of Capital Expenditure

Schedule of Capital Expenditures by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information
Capital Expenditures	$ 50,393	$ 26,096
North America
Segment Reporting Information
Capital Expenditures	22,783	15,403
Europe
Segment Reporting Information
Capital Expenditures	19,107	7,869
Specialty
Segment Reporting Information
Capital Expenditures	$ 8,503	$ 2,824

Schedule of Assets by Reportabl

Schedule of Assets by Reportable Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Segment Reporting Information
Receivables, net	$ 882,582	$ 590,160
Inventory	1,782,797	1,556,552
Property and Equipment, net	758,641	696,567
Other unallocated assets	3,932,837	2,804,558
Total Assets	7,356,857	5,647,837
North America
Segment Reporting Information
Receivables, net	338,326	314,743
Inventory	822,103	847,787
Property and Equipment, net	477,019	467,961
Europe
Segment Reporting Information
Receivables, net	440,650	215,710
Inventory	641,288	427,323
Property and Equipment, net	222,976	175,455
Specialty
Segment Reporting Information
Receivables, net	103,606	59,707
Inventory	319,406	281,442
Property and Equipment, net	$ 58,646	$ 53,151

Schedule of Revenue by Geograph

Schedule of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues from External Customers and Long-Lived Assets
Revenue	$ 1,921,476	$ 1,773,912
United States
Revenues from External Customers and Long-Lived Assets
Revenue	1,284,967	1,194,944
United Kingdom
Revenues from External Customers and Long-Lived Assets
Revenue	349,676	343,607
Other countries
Revenues from External Customers and Long-Lived Assets
Revenue	$ 286,833	$ 235,361

Schedule of Tangible Long-Lived

Schedule of Tangible Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets
Long-lived Assets	$ 758,641	$ 696,567
United States
Revenues from External Customers and Long-Lived Assets
Long-lived Assets	506,481	493,300
United Kingdom
Revenues from External Customers and Long-Lived Assets
Long-lived Assets	149,104	138,546
Other countries
Revenues from External Customers and Long-Lived Assets
Long-lived Assets	$ 103,056	$ 64,721

Schedule of Revenue by Product

Schedule of Revenue by Product Category (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue from External Customers
Revenue	$ 1,921,476	$ 1,773,912
Aftermarket, other new and refurbished products
Revenue from External Customers
Revenue	1,387,736	1,246,471
Recycled, remanufactured and related products and services
Revenue from External Customers
Revenue	430,589	398,445
Other
Revenue from External Customers
Revenue	$ 103,151	$ 128,996

Condensed Consolidating Balance

Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Current Assets:
Cash and equivalents	$ 229,220	$ 87,397	$ 175,492	$ 114,605
Receivables, net	882,582	590,160
Intercompany receivables, net	0	0
Inventory	1,782,797	1,556,552
Prepaid expenses and other current assets	99,288	106,603
Total Current Assets	2,993,887	2,340,712
Property and Equipment, net	758,641	696,567
Intangible Assets:
Goodwill	3,075,293	2,319,246
Other intangibles, net	447,730	215,117
Investment in Subsidiaries	0	0
Intercompany Notes Receivable	0	0
Other Assets	81,306	76,195
Total Assets	7,356,857	5,647,837
Current Liabilities:
Accounts payable	597,826	415,588
Intercompany payables, net	0	0
Accrued expenses:
Accrued payroll-related liabilities	78,459	86,527
Other accrued expenses	233,288	162,225
Other current liabilities	64,472	31,596
Current portion of long-term obligations	75,365	56,034
Total Current Liabilities	1,049,410	751,970
Long-Term Obligations, Excluding Current Portion	2,743,197	1,528,668
Intercompany Notes Payable	0	0
Deferred Income Taxes	179,404	127,239
Other Noncurrent Liabilities	150,437	125,278
Stockholders’ Equity	3,234,409	3,114,682
Total Liabilities and Stockholders’ Equity	7,356,857	5,647,837
Parent Company
Current Assets:
Cash and equivalents	43,999	17,616	59,676	14,930
Receivables, net	345	0
Intercompany receivables, net	2,695	3
Inventory	0	0
Prepaid expenses and other current assets	1,283	15,254
Total Current Assets	48,322	32,873
Property and Equipment, net	304	339
Intangible Assets:
Goodwill	0	0
Other intangibles, net	0	0
Investment in Subsidiaries	4,200,443	3,456,837
Intercompany Notes Receivable	611,585	630,717
Other Assets	39,104	35,649
Total Assets	4,899,758	4,156,415
Current Liabilities:
Accounts payable	2,482	681
Intercompany payables, net	0	0
Accrued expenses:
Accrued payroll-related liabilities	3,269	4,395
Other accrued expenses	15,885	5,399
Other current liabilities	23,464	284
Current portion of long-term obligations	16,284	21,041
Total Current Liabilities	61,384	31,800
Long-Term Obligations, Excluding Current Portion	1,567,271	976,353
Intercompany Notes Payable	0	0
Deferred Income Taxes	0	0
Other Noncurrent Liabilities	36,694	33,580
Stockholders’ Equity	3,234,409	3,114,682
Total Liabilities and Stockholders’ Equity	4,899,758	4,156,415
Guarantor Subsidiaries
Current Assets:
Cash and equivalents	13,907	13,432	28,888	32,103
Receivables, net	272,075	214,502
Intercompany receivables, net	0	0
Inventory	1,067,784	1,060,834
Prepaid expenses and other current assets	44,324	44,810
Total Current Assets	1,398,090	1,333,578
Property and Equipment, net	507,853	494,658
Intangible Assets:
Goodwill	1,640,904	1,640,745
Other intangibles, net	136,639	141,537
Investment in Subsidiaries	293,960	285,284
Intercompany Notes Receivable	32,158	61,764
Other Assets	27,306	28,184
Total Assets	4,036,910	3,985,750
Current Liabilities:
Accounts payable	253,466	229,519
Intercompany payables, net	5,585	13,544
Accrued expenses:
Accrued payroll-related liabilities	24,875	48,698
Other accrued expenses	77,709	80,886
Other current liabilities	16,802	15,953
Current portion of long-term obligations	1,540	1,425
Total Current Liabilities	379,977	390,025
Long-Term Obligations, Excluding Current Portion	6,425	7,487
Intercompany Notes Payable	595,382	615,488
Deferred Income Taxes	113,789	113,905
Other Noncurrent Liabilities	73,953	70,109
Stockholders’ Equity	2,867,384	2,788,736
Total Liabilities and Stockholders’ Equity	4,036,910	3,985,750
Non-Guarantor Subsidiaries
Current Assets:
Cash and equivalents	171,314	56,349	86,928	67,572
Receivables, net	610,162	375,658
Intercompany receivables, net	5,585	13,544
Inventory	715,013	495,718
Prepaid expenses and other current assets	53,681	46,539
Total Current Assets	1,555,755	987,808
Property and Equipment, net	250,484	201,570
Intangible Assets:
Goodwill	1,434,389	678,501
Other intangibles, net	311,091	73,580
Investment in Subsidiaries	0	0
Intercompany Notes Receivable	0	0
Other Assets	20,568	18,218
Total Assets	3,572,287	1,959,677
Current Liabilities:
Accounts payable	341,878	185,388
Intercompany payables, net	2,695	3
Accrued expenses:
Accrued payroll-related liabilities	50,315	33,434
Other accrued expenses	139,694	75,940
Other current liabilities	24,206	15,359
Current portion of long-term obligations	57,541	33,568
Total Current Liabilities	616,329	343,692
Long-Term Obligations, Excluding Current Portion	1,169,501	544,828
Intercompany Notes Payable	48,361	76,993
Deferred Income Taxes	71,287	19,190
Other Noncurrent Liabilities	39,790	21,589
Stockholders’ Equity	1,627,019	953,385
Total Liabilities and Stockholders’ Equity	3,572,287	1,959,677
Consolidation, Eliminations
Current Assets:
Cash and equivalents	0	0	$ 0	$ 0
Receivables, net	0	0
Intercompany receivables, net	(8,280)	(13,547)
Inventory	0	0
Prepaid expenses and other current assets	0	0
Total Current Assets	(8,280)	(13,547)
Property and Equipment, net	0	0
Intangible Assets:
Goodwill	0	0
Other intangibles, net	0	0
Investment in Subsidiaries	(4,494,403)	(3,742,121)
Intercompany Notes Receivable	(643,743)	(692,481)
Other Assets	(5,672)	(5,856)
Total Assets	(5,152,098)	(4,454,005)
Current Liabilities:
Accounts payable	0	0
Intercompany payables, net	(8,280)	(13,547)
Accrued expenses:
Accrued payroll-related liabilities	0	0
Other accrued expenses	0	0
Other current liabilities	0	0
Current portion of long-term obligations	0	0
Total Current Liabilities	(8,280)	(13,547)
Long-Term Obligations, Excluding Current Portion	0	0
Intercompany Notes Payable	(643,743)	(692,481)
Deferred Income Taxes	(5,672)	(5,856)
Other Noncurrent Liabilities	0	0
Stockholders’ Equity	(4,494,403)	(3,742,121)
Total Liabilities and Stockholders’ Equity	$ (5,152,098)	$ (4,454,005)

Condensed Consolidating Stateme

Condensed Consolidating Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Financial Statements, Captions [Line Items]
Revenue	$ 1,921,476	$ 1,773,912
Cost of goods sold	1,161,039	1,074,433
Gross margin	760,437	699,479
Facility and warehouse expenses	157,605	132,657
Distribution expenses	152,343	141,714
Selling, general and administrative expenses	218,318	203,241
Restructuring and acquisition related expenses	14,811	6,488
Depreciation and amortization	31,688	29,453
Operating income	185,672	185,926
Other expense (income):
Interest expense, net	14,592	14,906
Intercompany interest (income) expense, net	0	0
Loss on debt extinguishment	26,650	0
Change in fair value of contingent consideration liabilities	(73)	(151)
Gains on foreign exchange contracts - acquisition related	(18,342)	0
Other (income) expense, net	(2,962)	1,768
Total other expense, net	20,011	16,825
Income before provision for income taxes	165,661	169,101
Provision for income taxes	57,567	60,098
Equity in earnings of unconsolidated subsidiaries	(362)	(1,908)
Income (Loss) from Subsidiaries, Net of Tax	0	0
Net income	107,732	107,095
Parent Company
Condensed Financial Statements, Captions [Line Items]
Revenue	0	0
Cost of goods sold	0	0
Gross margin	0	0
Facility and warehouse expenses	0	0
Distribution expenses	0	0
Selling, general and administrative expenses	10,379	7,631
Restructuring and acquisition related expenses	0	0
Depreciation and amortization	36	40
Operating income	(10,415)	(7,671)
Other expense (income):
Interest expense, net	12,117	12,314
Intercompany interest (income) expense, net	(10,677)	(10,823)
Loss on debt extinguishment	2,894
Change in fair value of contingent consideration liabilities	0	0
Gains on foreign exchange contracts - acquisition related	(18,342)
Other (income) expense, net	(111)	25
Total other expense, net	(14,119)	1,516
Income before provision for income taxes	3,704	(9,187)
Provision for income taxes	1,423	(3,755)
Equity in earnings of unconsolidated subsidiaries	(795)	0
Income (Loss) from Subsidiaries, Net of Tax	106,246	112,527
Net income	107,732	107,095
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Revenue	1,318,167	1,225,908
Cost of goods sold	795,240	740,803
Gross margin	522,927	485,105
Facility and warehouse expenses	115,210	97,761
Distribution expenses	104,154	95,992
Selling, general and administrative expenses	126,668	121,662
Restructuring and acquisition related expenses	4,036	6,060
Depreciation and amortization	20,544	19,891
Operating income	152,315	143,739
Other expense (income):
Interest expense, net	143	43
Intercompany interest (income) expense, net	6,590	7,259
Loss on debt extinguishment	0
Change in fair value of contingent consideration liabilities	(34)	(55)
Gains on foreign exchange contracts - acquisition related	0
Other (income) expense, net	(2,834)	(1,790)
Total other expense, net	3,933	5,567
Income before provision for income taxes	148,382	138,172
Provision for income taxes	53,445	55,777
Equity in earnings of unconsolidated subsidiaries	5	11
Income (Loss) from Subsidiaries, Net of Tax	11,942	7,260
Net income	106,884	89,666
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Revenue	635,637	582,943
Cost of goods sold	398,127	368,569
Gross margin	237,510	214,374
Facility and warehouse expenses	42,395	34,896
Distribution expenses	48,189	45,722
Selling, general and administrative expenses	81,271	73,948
Restructuring and acquisition related expenses	10,775	428
Depreciation and amortization	11,108	9,522
Operating income	43,772	49,858
Other expense (income):
Interest expense, net	2,332	2,549
Intercompany interest (income) expense, net	4,087	3,564
Loss on debt extinguishment	23,756
Change in fair value of contingent consideration liabilities	(39)	(96)
Gains on foreign exchange contracts - acquisition related	0
Other (income) expense, net	(17)	3,533
Total other expense, net	30,197	9,742
Income before provision for income taxes	13,575	40,116
Provision for income taxes	2,699	8,076
Equity in earnings of unconsolidated subsidiaries	428	(1,919)
Income (Loss) from Subsidiaries, Net of Tax	0	0
Net income	11,304	30,121
Consolidation, Eliminations
Condensed Financial Statements, Captions [Line Items]
Revenue	(32,328)	(34,939)
Cost of goods sold	(32,328)	(34,939)
Gross margin	0	0
Facility and warehouse expenses	0	0
Distribution expenses	0	0
Selling, general and administrative expenses	0	0
Restructuring and acquisition related expenses	0	0
Depreciation and amortization	0	0
Operating income	0	0
Other expense (income):
Interest expense, net	0	0
Intercompany interest (income) expense, net	0	0
Loss on debt extinguishment	0
Change in fair value of contingent consideration liabilities	0	0
Gains on foreign exchange contracts - acquisition related	0
Other (income) expense, net	0	0
Total other expense, net	0	0
Income before provision for income taxes	0	0
Provision for income taxes	0	0
Equity in earnings of unconsolidated subsidiaries	0	0
Income (Loss) from Subsidiaries, Net of Tax	(118,188)	(119,787)
Net income	$ (118,188)	$ (119,787)

Condensed Consolidating State71

Condensed Consolidating Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Financial Statements, Captions [Line Items]
Net income	$ 107,732	$ 107,095
Other comprehensive income (loss), net of tax:
Foreign currency translation	140	(54,810)
Net change in unrecognized gains/losses on derivative instruments, net of tax	432	283
Net change in unrealized gains/losses on pension plan, net of tax	147	128
Total other comprehensive income (loss)	719	(54,399)
Total comprehensive income	108,451	52,696
Parent Company
Condensed Financial Statements, Captions [Line Items]
Net income	107,732	107,095
Other comprehensive income (loss), net of tax:
Foreign currency translation	140	(54,810)
Net change in unrecognized gains/losses on derivative instruments, net of tax	432	283
Net change in unrealized gains/losses on pension plan, net of tax	147	128
Total other comprehensive income (loss)	719	(54,399)
Total comprehensive income	108,451	52,696
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income	106,884	89,666
Other comprehensive income (loss), net of tax:
Foreign currency translation	(2,855)	(14,372)
Net change in unrecognized gains/losses on derivative instruments, net of tax	0	0
Net change in unrealized gains/losses on pension plan, net of tax	0	0
Total other comprehensive income (loss)	(2,855)	(14,372)
Total comprehensive income	104,029	75,294
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income	11,304	30,121
Other comprehensive income (loss), net of tax:
Foreign currency translation	(3,039)	(52,799)
Net change in unrecognized gains/losses on derivative instruments, net of tax	96	(62)
Net change in unrealized gains/losses on pension plan, net of tax	147	128
Total other comprehensive income (loss)	(2,796)	(52,733)
Total comprehensive income	8,508	(22,612)
Consolidation, Eliminations
Condensed Financial Statements, Captions [Line Items]
Net income	(118,188)	(119,787)
Other comprehensive income (loss), net of tax:
Foreign currency translation	5,894	67,171
Net change in unrecognized gains/losses on derivative instruments, net of tax	(96)	62
Net change in unrealized gains/losses on pension plan, net of tax	(147)	(128)
Total other comprehensive income (loss)	5,651	67,105
Total comprehensive income	$ (112,537)	$ (52,682)

Condensed Consolidating State72

Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by operating activities	$ 130,207	$ 180,145
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(50,393)	(26,096)
Investment and intercompany note activity with subsidiaries	0	0
Acquisitions, net of cash acquired	(603,735)	(864)
Proceeds from foreign exchange contracts	18,342	0
Other investing activities, net	10,762	(7,316)
Net cash used in investing activities	(625,024)	(34,276)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options	3,202	1,318
Excess tax benefit from stock-based payments	4,637	5,201
Taxes paid related to net share settlements of stock-based compensation awards	(2,281)	(5,243)
Debt issuance costs	(5,907)	0
Borrowings under revolving credit facilities	1,143,217	85,030
Repayments under revolving credit facilities	(345,609)	(155,073)
Borrowings under term loans	338,478	0
Repayments under term loans	0	(5,625)
Borrowings under receivables securitization facility	97,000	2,100
Repayments under receivables securitization facility	(63,000)	0
Repayments of other long-term debt, net	(12,850)	6,576
Payments of other obligations	(1,437)	(1,544)
Repayment of Rhiag Debt and Related payments	(543,347)	0
Investment and intercompany note activity with parent	0	0
Dividends	0	0
Net cash provided by (used in) financing activities	637,803	(80,412)
Effect of exchange rate changes on cash and equivalents	(1,163)	(4,570)
Net (decrease) increase in cash and equivalents	141,823	60,887
Cash and equivalents, beginning of period	87,397	114,605	$ 114,605
Cash and equivalents, end of period	229,220	175,492	87,397
Parent Company
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by operating activities	65,092	110,976
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	0	(4)
Investment and intercompany note activity with subsidiaries	(646,019)	18,167
Acquisitions, net of cash acquired	0	0
Proceeds from foreign exchange contracts	18,342
Other investing activities, net	0	0
Net cash used in investing activities	(627,677)	18,163
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options	3,202	1,318
Excess tax benefit from stock-based payments	4,637	5,201
Taxes paid related to net share settlements of stock-based compensation awards	(2,281)	(5,243)
Debt issuance costs	(5,907)
Borrowings under revolving credit facilities	544,000	38,000
Repayments under revolving credit facilities	(44,000)	(118,000)
Borrowings under term loans	89,317	0
Repayments under term loans		(5,625)
Borrowings under receivables securitization facility	0	0
Repayments under receivables securitization facility	0
Repayments of other long-term debt, net	0	44
Payments of other obligations	0	0
Repayment of Rhiag Debt and Related payments	0
Investment and intercompany note activity with parent	0	0
Dividends	0	0
Net cash provided by (used in) financing activities	588,968	(84,393)
Effect of exchange rate changes on cash and equivalents	0	0
Net (decrease) increase in cash and equivalents	26,383	44,746
Cash and equivalents, beginning of period	17,616	14,930	14,930
Cash and equivalents, end of period	43,999	59,676	17,616
Guarantor Subsidiaries
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by operating activities	77,907	105,119
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(29,710)	(17,731)
Investment and intercompany note activity with subsidiaries	0	0
Acquisitions, net of cash acquired	0	(764)
Proceeds from foreign exchange contracts	0
Other investing activities, net	188	74
Net cash used in investing activities	(29,522)	(18,421)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options	0	0
Excess tax benefit from stock-based payments	0	0
Taxes paid related to net share settlements of stock-based compensation awards	0	0
Debt issuance costs	0
Borrowings under revolving credit facilities	0	0
Repayments under revolving credit facilities	0	0
Borrowings under term loans	0	0
Repayments under term loans		0
Borrowings under receivables securitization facility	0	0
Repayments under receivables securitization facility	0
Repayments of other long-term debt, net	946	504
Payments of other obligations	(1,437)	(1,544)
Repayment of Rhiag Debt and Related payments	0
Investment and intercompany note activity with parent	20,106	18,779
Dividends	(25,069)	(69,255)
Net cash provided by (used in) financing activities	(47,558)	(90,082)
Effect of exchange rate changes on cash and equivalents	(352)	169
Net (decrease) increase in cash and equivalents	475	(3,215)
Cash and equivalents, beginning of period	13,432	32,103	32,103
Cash and equivalents, end of period	13,907	28,888	13,432
Non-Guarantor Subsidiaries
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by operating activities	13,437	33,305
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(20,683)	(8,361)
Investment and intercompany note activity with subsidiaries	0	0
Acquisitions, net of cash acquired	(603,735)	(100)
Proceeds from foreign exchange contracts	0
Other investing activities, net	10,574	(7,390)
Net cash used in investing activities	(613,844)	(15,851)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options	0	0
Excess tax benefit from stock-based payments	0	0
Taxes paid related to net share settlements of stock-based compensation awards	0	0
Debt issuance costs	0
Borrowings under revolving credit facilities	599,217	47,030
Repayments under revolving credit facilities	(301,609)	(37,073)
Borrowings under term loans	249,161	0
Repayments under term loans		0
Borrowings under receivables securitization facility	97,000	2,100
Repayments under receivables securitization facility	(63,000)
Repayments of other long-term debt, net	(13,796)	6,028
Payments of other obligations	0	0
Repayment of Rhiag Debt and Related payments	(543,347)
Investment and intercompany note activity with parent	(666,125)	(612)
Dividends	(1,160)	0
Net cash provided by (used in) financing activities	716,183	6,641
Effect of exchange rate changes on cash and equivalents	(811)	(4,739)
Net (decrease) increase in cash and equivalents	114,965	19,356
Cash and equivalents, beginning of period	56,349	67,572	67,572
Cash and equivalents, end of period	171,314	86,928	56,349
Consolidation, Eliminations
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by operating activities	(26,229)	(69,255)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	0	0
Investment and intercompany note activity with subsidiaries	646,019	(18,167)
Acquisitions, net of cash acquired	0	0
Proceeds from foreign exchange contracts	0
Other investing activities, net	0	0
Net cash used in investing activities	646,019	(18,167)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options	0	0
Excess tax benefit from stock-based payments	0	0
Taxes paid related to net share settlements of stock-based compensation awards	0	0
Debt issuance costs	0
Borrowings under revolving credit facilities	0	0
Repayments under revolving credit facilities	0	0
Borrowings under term loans	0	0
Repayments under term loans		0
Borrowings under receivables securitization facility	0	0
Repayments under receivables securitization facility	0
Repayments of other long-term debt, net	0	0
Payments of other obligations	0	0
Repayment of Rhiag Debt and Related payments	0
Investment and intercompany note activity with parent	646,019	(18,167)
Dividends	26,229	69,255
Net cash provided by (used in) financing activities	(619,790)	87,422
Effect of exchange rate changes on cash and equivalents	0	0
Net (decrease) increase in cash and equivalents	0	0
Cash and equivalents, beginning of period	0	0	0
Cash and equivalents, end of period	$ 0	$ 0	$ 0