Genuine Parts (GPC) 10-Q 26 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2017shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	GPC
Entity Registrant Name	GENUINE PARTS CO
Entity Central Index Key	40,987
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	146,613,496

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 210,082	$ 242,879
Trade accounts receivable, less allowance for doubtful accounts (2017 – $19,214; 2016 – $15,557)	2,155,948	1,938,562
Merchandise inventories, net	3,354,178	3,210,320
Prepaid expenses and other current assets	596,400	556,670
TOTAL CURRENT ASSETS	6,316,608	5,948,431
Goodwill	1,059,637	956,153
Other intangible assets, less accumulated amortization	653,932	618,510
Deferred tax assets	122,797	132,652
Other assets	581,047	475,530
Property, plant and equipment, less accumulated depreciation (2017 – $1,018,211; 2016 – $960,999)	760,213	728,124
TOTAL ASSETS	9,494,234	8,859,400
CURRENT LIABILITIES:
Trade accounts payable	3,275,155	3,081,111
Current portion of debt	595,000	325,000
Dividends payable	98,959	97,584
Income taxes payable	26,666	6,354
Other current liabilities	806,887	734,101
TOTAL CURRENT LIABILITIES	4,802,667	4,244,150
Long-term debt	550,000	550,000
Pension and other post–retirement benefit liabilities	260,243	341,510
Deferred tax liabilities	50,106	48,326
Other long-term liabilities	441,090	468,058
EQUITY:
Preferred stock, par value - $1 per share, Authorized - 10,000,000 shares ; none issued	0	0
Common stock, par value - $1 per share, Authorized - 450,000,000 shares ; issued and outstanding - 2017 - 146,613,496 shares; 2016 - 148,410,422 shares	146,613	148,410
Additional paid-in capital	66,152	56,605
Retained earnings	4,042,404	4,001,734
Accumulated other comprehensive loss	(876,934)	(1,013,021)
TOTAL PARENT EQUITY	3,378,235	3,193,728
Noncontrolling interests in subsidiaries	11,893	13,628
TOTAL EQUITY	3,390,128	3,207,356
TOTAL LIABILITIES AND EQUITY	$ 9,494,234	$ 8,859,400

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 19,214	$ 15,557
Accumulated depreciation	$ 1,018,211	$ 960,999
Preferred stock, par value (usd per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (usd per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	450,000,000	450,000,000
Common stock, shares issued (in shares)	146,613,496	148,410,422
Common stock, shares outstanding (in shares)	146,613,496	148,410,422

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 4,095,906	$ 3,941,743	$ 12,101,725	$ 11,559,648
Cost of goods sold	2,869,016	2,743,142	8,479,402	8,091,124
Gross profit	1,226,890	1,198,601	3,622,323	3,468,524
Operating expenses:
Selling, administrative and other expenses	940,259	869,562	2,717,416	2,522,223
Depreciation and amortization	40,276	37,682	117,640	108,247
Total operating expenses	980,535	907,244	2,835,056	2,630,470
Income before income taxes	246,355	291,357	787,267	838,054
Income taxes	87,913	106,031	278,693	303,334
Net income	$ 158,442	$ 185,326	$ 508,574	$ 534,720
Basic net income per common share (usd per share)	$ 1.08	$ 1.24	$ 3.45	$ 3.58
Diluted net income per common share (usd per share)	1.08	1.24	3.44	3.56
Dividends declared per common share (usd per share)	$ 0.675	$ 0.6575	$ 2.025	$ 1.9725
Weighted average common shares outstanding (in shares)	146,720	148,899	147,312	149,243
Dilutive effect of stock options and non-vested restricted stock awards (in shares)	502	828	561	781
Weighted average common shares outstanding - assuming dilution (in shares)	147,222	149,727	147,873	150,024
Comprehensive income	$ 202,897	$ 201,981	$ 644,661	$ 599,828

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
OPERATING ACTIVITIES:
Net income	$ 508,574	$ 534,720
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	117,640	108,247
Share-based compensation	12,912	15,362
Excess tax benefits from share-based compensation	(2,504)	(10,475)
Changes in operating assets and liabilities	(94,265)	93,498
NET CASH PROVIDED BY OPERATING ACTIVITIES	542,357	741,352
INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(97,181)	(86,650)
Acquisitions and other investing activities	(289,353)	(365,545)
NET CASH USED IN INVESTING ACTIVITIES	(386,534)	(452,195)
FINANCING ACTIVITIES:
Proceeds from debt	3,420,000	3,020,000
Payments on debt	(3,150,000)	(2,870,000)
Share-based awards exercised	(3,289)	(11,942)
Excess tax benefits from share-based compensation	0	10,475
Dividends paid	(296,517)	(288,909)
Purchases of stock	(171,884)	(143,810)
NET CASH USED IN FINANCING ACTIVITIES	(201,690)	(284,186)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	13,070	8,575
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(32,797)	13,546
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	242,879	211,631
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 210,082	$ 225,177

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and therefore do not include all information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. Except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements included in the Annual Report on Form 10-K of Genuine Parts Company (the “Company”) for the year ended December 31, 2016 . Accordingly, the unaudited interim condensed consolidated financial statements and related disclosures herein should be read in conjunction with the Company’s 2016 Annual Report on Form 10-K. The preparation of interim financial statements requires management to make estimates and assumptions for the amounts reported in the condensed consolidated financial statements. Specifically, the Company makes estimates and assumptions in its interim condensed consolidated financial statements for inventory adjustments, the accrual of bad debts, customer sales returns, and volume incentives earned, among others. Inventory adjustments (including adjustments for a majority of inventories that are valued under the last-in, first-out (“LIFO”) method) are accrued on an interim basis and adjusted in the fourth quarter based on the annual book to physical inventory adjustment and LIFO valuation, which is performed each year-end. Reserves for bad debts and customer sales returns are estimated and accrued on an interim basis based upon historical experience. Volume incentives are estimated based upon cumulative and projected purchasing levels. The estimates and assumptions for interim reporting may change upon final determination at year-end, and such changes may be significant. In the opinion of management, all adjustments necessary for a fair presentation of the Company’s financial results for the interim periods have been made. These adjustments are of a normal recurring nature. The results of operations for the nine month period ended September 30, 2017 are not necessarily indicative of results for the entire year. The Company has evaluated subsequent events through the date the financial statements covered by this quarterly report were issued.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) (in thousands) Net sales: Automotive $ 2,171,008 $ 2,095,030 $ 6,333,495 $ 6,115,186 Industrial 1,244,234 1,162,224 3,729,183 3,482,246 Office products 509,966 535,175 1,533,372 1,493,434 Electrical/electronic materials 199,236 178,448 588,281 538,803 Other (28,538 ) (29,134 ) (82,606 ) (70,021 ) Total net sales $ 4,095,906 $ 3,941,743 $ 12,101,725 $ 11,559,648 Operating profit: Automotive $ 178,202 $ 197,874 $ 537,291 $ 555,156 Industrial 94,595 85,608 281,269 255,704 Office products 23,974 30,257 85,184 97,101 Electrical/electronic materials 13,547 14,277 42,715 45,105 Total operating segment profit 310,318 328,016 946,459 953,066 Interest expense, net (8,202 ) (5,244 ) (21,254 ) (14,731 ) Other intangible assets amortization (11,845 ) (10,339 ) (34,085 ) (28,324 ) Other, net (43,916 ) (21,076 ) (103,853 ) (71,957 ) Income before income taxes $ 246,355 $ 291,357 $ 787,267 $ 838,054 Net sales by segment exclude the effect of certain discounts, incentives and freight billed to customers. The line item “Other” represents the net effect of the discounts, incentives and freight billed to customers, which is reported as a component of net sales in the Company’s condensed consolidated statements of income and comprehensive income.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) The difference between comprehensive income and net income was due to foreign currency translation adjustments and pension and other post-retirement benefit adjustments, as summarized below. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) (in thousands) Net income $ 158,442 $ 185,326 $ 508,574 $ 534,720 Other comprehensive income (loss): Foreign currency translation 38,675 11,896 118,852 50,840 Pension and other post-retirement benefit adjustments: Recognition of prior service credit, net of tax (212 ) (222 ) (637 ) (666 ) Recognition of actuarial loss, net of tax 5,992 4,981 17,872 14,934 Total other comprehensive income 44,455 16,655 136,087 65,108 Comprehensive income $ 202,897 $ 201,981 $ 644,661 $ 599,828 The following tables present the changes in accumulated other comprehensive loss by component for the nine months ended September 30 : 2017 Changes in Accumulated Other Pension and Foreign Total (in thousands) Beginning balance, January 1 $ (609,080 ) $ (403,941 ) $ (1,013,021 ) Other comprehensive income before reclassifications, net of tax — 118,852 118,852 Amounts reclassified from accumulated other comprehensive loss, net of tax 17,235 — 17,235 Net current period other comprehensive income 17,235 118,852 136,087 Ending balance, September 30 $ (591,845 ) $ (285,089 ) $ (876,934 ) 2016 Changes in Accumulated Other Pension and Foreign Total (in thousands) Beginning balance, January 1 $ (535,634 ) $ (394,984 ) $ (930,618 ) Other comprehensive income before reclassifications, net of tax — 50,840 50,840 Amounts reclassified from accumulated other comprehensive loss, net of tax 14,268 — 14,268 Net current period other comprehensive income 14,268 50,840 65,108 Ending balance, September 30 $ (521,366 ) $ (344,144 ) $ (865,510 ) The accumulated other comprehensive loss components related to the pension benefits are included in the computation of net periodic benefit income in the employee benefit plans footnote.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers ( Topic 606 ) ("ASU 2014-09"), which will create a single, comprehensive revenue recognition model for recognizing revenue from contracts with customers. The standard is effective for interim and annual reporting periods beginning after December 15, 2017 and may be adopted either retrospectively or on a modified retrospective basis. The core principle of the new standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than are required under existing guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation, among others. The Company has established a cross-functional implementation team to evaluate and implement the new standard related to the recognition of revenue from contracts with customers. The Company primarily sells goods and recognizes revenue at point of sale or delivery and this will not change under the new standard. We are completing an analysis of revenue streams at each of the business units and are evaluating the impact the new standard may have on revenue recognition. We expect to finalize our accounting policy in the short-term and implement any necessary changes to processes and controls in the fourth quarter. In addition, the Company is evaluating recently issued guidance on practical expedients as part of the transition decision. The Company plans to use the modified retrospective adoption method and does not believe there will be a material impact to the Company’s consolidated revenues upon adoption. However, the Company will present expanded disclosure in accordance with the requirements of the standard. The Company will continue to evaluate the impacts of the pending adoption of ASU 2014-09 and the preliminary assessments are subject to change. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory ("ASU 2015-11"), which modifies existing requirements regarding measuring first-in, first-out and average cost inventory at the lower of cost or market. Under existing standards, the market amount requires consideration of replacement cost, net realizable value (“NRV”), and NRV less an approximately normal profit margin. ASU 2015-11 replaces market with NRV, defined as estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This eliminates the need to determine and consider replacement cost or NRV less an approximately normal profit margin when measuring inventory. The Company adopted ASU 2015-11 on January 1, 2017 and it did not have a material impact to the Company's condensed consolidated financial statements for the nine months ended September 30, 2017 and it will not have a material impact on the annual consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases ( Topic 842 ) ("ASU 2016-02"), which requires an entity to recognize a right-of-use asset and a lease liability on the balance sheet for all leases, including operating leases, with a term greater than twelve months. Expanded disclosures with additional qualitative and quantitative information will also be required. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018 and early adoption is permitted. The new standard must be adopted using a modified retrospective transition. The Company is currently evaluating the impact of ASU 2016-02 on its condensed consolidated financial statements and related disclosures. As disclosed in the leased properties footnote in the 2016 Annual Report on Form 10-K, the future minimum payments under noncancelable operating leases are approximately $865.0 million and the Company believes the adoption of this standard will have a significant impact on the consolidated balance sheets. In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation ( Topic 718 ): Improvements to Employee Share-Based Payment Accounting ("ASU 2016-09") that changes the accounting for certain aspects of share-based compensation to employees including forfeitures, employer tax withholding, and the financial statement presentation of excess tax benefits or expense. ASU 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based compensation, which prospectively reclassifies cash flows from excess tax benefits of share-based compensation currently disclosed in financing activities to operating activities in the period of adoption. The guidance will increase income tax expense volatility, as well as the Company's cash flows from operations. In addition, the Company did not elect to change shares withheld for employment income tax purposes, or the current methodology of estimating forfeitures upon adoption. The Company adopted ASU 2016-09 on January 1, 2017 on a prospective basis. The adoption of ASU 2016-09 did not have a material impact to the Company's condensed consolidated financial statements for the nine months ended September 30, 2017 and it is not expected to have a material impact on the annual consolidated financial statements or related disclosures. In March 2017, the FASB issued ASU 2017-07, Compensation-Retirement Benefits (Topic 715) ("ASU 2017-07"), which requires an entity to report the service cost component of net periodic benefit cost in the same line item as other compensation costs (selling, administrative and other expenses), and the remaining components in non-operating expense in the consolidated statement of income and comprehensive income. This standard is effective for interim and annual reporting periods beginning after December 15, 2017 and early adoption is permitted. The Company will adopt ASU 2017-07 on January 1, 2018 and it is not expected to have a material impact on the Company’s consolidated financial statements or related disclosures.

Credit Facilities

Credit Facilities	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Credit Facilities	Credit Facilities In June 2017, the Company exercised its remaining optional one year extension on the $1.2 billion multi-currency Syndicated Facility (the "Syndicated Facility") amended June 19, 2015, to extend the maturity date from June 2021 to June 2022. At September 30, 2017 , approximately $595.0 million was outstanding under the Syndicated Facility and is included in "Current portion of debt" in the accompanying condensed consolidated balance sheet. On September 22, 2017, the Company executed a $2.0 billion 364-day bridge facility bearing interest at LIBOR plus a variable margin. At September 30, 2017, the Company did not have any amounts outstanding under the facility.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation As more fully discussed in Note 5 of the Company’s notes to the consolidated financial statements in its 2016 Annual Report on Form 10-K, the Company maintains various long-term incentive plans, which provide for the granting of stock options, stock appreciation rights (“SARs”), restricted stock, restricted stock units (“RSUs”), performance awards, dividend equivalents and other share-based awards. SARs represent a right to receive upon exercise an amount, payable in shares of common stock, equal to the excess, if any, of the fair market value of the Company’s common stock on the date of exercise over the base value of the grant. The terms of such SARs require net settlement in shares of common stock and do not provide for cash settlement. RSUs represent a contingent right to receive one share of the Company’s common stock at a future date. The majority of awards previously granted vest on a pro-rata basis for periods ranging from one to five years and are expensed accordingly on a straight-line basis. The Company issues new shares upon exercise or conversion of awards under these plans. Most awards may be exercised or converted to shares not earlier than twelve months nor later than ten years from the date of grant. At September 30, 2017 , total compensation cost related to nonvested awards not yet recognized was approximately $38.0 million , as compared to $34.6 million at December 31, 2016 . The weighted-average period over which this compensation cost is expected to be recognized is approximately three years . The aggregate intrinsic value for SARs and RSUs outstanding at September 30, 2017 was approximately $105.7 million . At September 30, 2017 , the aggregate intrinsic value for SARs and RSUs vested totaled approximately $55.5 million , and the weighted-average contractual lives for outstanding and exercisable SARs and RSUs were approximately six and five years , respectively. For the nine months ended September 30, 2017 , $12.9 million of share-based compensation cost was recorded, as compared to $15.4 million for the same nine month period in the prior year. Options to purchase approximately 2.5 million and 1.9 million shares of common stock were outstanding but excluded from the computation of diluted earnings per share for the three and nine month periods ended September 30, 2017 , respectively, as compared to approximately 0.7 million and 1.2 million for the three and nine month periods ended September 30, 2016 , respectively. These options were excluded from the computation of diluted net income per common share because the options’ exercise prices were greater than the average market price of the common stock. During the nine months ended September 30, 2017 , the Company granted approximately 746,000 SARs and 171,000 RSUs.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Net periodic benefit income for the pension plans included the following components for the three months ended September 30 : Pension Benefits 2017 2016 (in thousands) Service cost $ 2,240 $ 2,106 Interest cost 24,243 26,195 Expected return on plan assets (38,061 ) (39,296 ) Amortization of prior service credit (88 ) (108 ) Amortization of actuarial loss 9,549 7,860 Net periodic benefit income $ (2,117 ) $ (3,243 ) Net periodic benefit income for the pension plans included the following components for the nine months ended September 30 : Pension Benefits 2017 2016 (in thousands) Service cost $ 6,530 $ 6,257 Interest cost 72,474 78,505 Expected return on plan assets (117,475 ) (117,767 ) Amortization of prior service credit (263 ) (324 ) Amortization of actuarial loss 28,500 23,530 Net periodic benefit income $ (10,234 ) $ (9,799 ) Pension benefits also include amounts related to a supplemental retirement plan. During the nine months ended September 30, 2017 , the Company made a $38.7 million contribution to the pension plan.

Guarantees

Guarantees	9 Months Ended
	Sep. 30, 2017
Guarantees [Abstract]
Guarantees	Guarantees The Company guarantees the borrowings of certain independently controlled automotive parts stores (“independents”) and certain other affiliates in which the Company has a noncontrolling equity ownership interest (“affiliates”). Presently, the independents are generally consolidated by unaffiliated enterprises that have controlling financial interests through ownership of a majority voting interest in the independents. The Company has no voting interest or equity conversion rights in any of the independents. The Company does not control the independents or the affiliates, but receives a fee for the guarantees. The Company has concluded that the independents are variable interest entities, but that the Company is not the primary beneficiary. Specifically, the equity holders of the independents have the power to direct the activities that most significantly impact the entities’ economic performance including, but not limited to, decisions about hiring and terminating personnel, local marketing and promotional initiatives, pricing and selling activities, credit decisions, monitoring and maintaining appropriate inventories, and store hours. Separately, the Company concluded the affiliates are not variable interest entities. The Company’s maximum exposure to loss as a result of its involvement with these independents and affiliates is generally equal to the total borrowings subject to the Company’s guarantees. While such borrowings of the independents and affiliates are outstanding, the Company is required to maintain compliance with certain covenants, including a maximum debt to capitalization ratio and certain limitations on additional borrowings. At September 30, 2017 , the Company was in compliance with all such covenants. At September 30, 2017 , the total borrowings of the independents and affiliates subject to guarantee by the Company were approximately $554.2 million . These loans generally mature over periods from one to six years . In the event that the Company is required to make payments in connection with guaranteed obligations of the independents or the affiliates, the Company would obtain and liquidate certain collateral (e.g., accounts receivable and inventory) to recover all or a portion of the amounts paid under the guarantees. When it is deemed probable that the Company will incur a loss in connection with a guarantee, a liability is recorded equal to this estimated loss. To date, the Company has had no significant losses in connection with guarantees of independents’ and affiliates’ borrowings. As of September 30, 2017 , the Company has recognized certain assets and liabilities amounting to $59.0 million each for the guarantees related to the independents’ and affiliates’ borrowings. These assets and liabilities are included in other assets and other long-term liabilities in the condensed consolidated balance sheets.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts reflected in the condensed consolidated balance sheets for cash and cash equivalents, trade accounts receivable, trade accounts payable, and borrowings under the line of credit approximate their respective fair values based on the short-term nature of these instruments. At September 30, 2017 , the carrying value and the fair value of fixed rate debt were approximately $550.0 million and $563.6 million , respectively. The fair value of fixed rate debt is designated as Level 2 in the fair value hierarchy (i.e., significant observable inputs) and is based primarily on the discounted value of future cash flows using current market interest rates offered for debt of similar credit risk and maturity. The carrying value of fixed rate debt of $550.0 million is included in long-term debt in the accompanying condensed consolidated balance sheets.

Legal Matters

Legal Matters	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Legal Matters	Legal Matters On April 17, 2017, a jury awarded damages against the Company of $81.5 million in a litigated automotive product liability dispute. Through post-trial motions and offsets from previous settlements, the initial verdict has been reduced to $77.1 million. The Company believes the verdict is not supported by the facts or the law and is contrary to the Company’s role in the automotive parts industry. The Company intends to challenge the verdict through further post-trial motions and on appeal to a higher court. At the time of the filing of these financial statements, based upon the Company’s legal defenses, insurance coverage, and reserves, the Company does not believe this matter will have a material impact to the condensed consolidated financial statements.

Acquisitions and Equity Investm

Acquisitions and Equity Investments	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Acquisitions and Equity Investments	Acquisitions and Equity Investments During the nine months ended September 30, 2017 , the Company acquired certain companies and equity investments for approximately $266.4 million . The Company recognized and measured the assets and liabilities assumed based on their fair values as of their respective acquisition dates. The results of operations for the acquired companies were included in the Company’s condensed consolidated statements of income beginning on their respective acquisition dates. The Company recorded approximately $105.4 million of goodwill and other intangible assets associated with the acquisitions. The Company is in the process of analyzing the estimated values of assets and liabilities acquired and is obtaining third-party valuations of certain tangible and intangible assets. The allocations of the respective purchase prices are therefore preliminary and subject to revision. Additional disclosure of the Inenco investment is provided below. Effective April 3, 2017, the Company acquired a 35% investment in the Inenco Group for approximately $72.1 million from Conbear Holdings Pty Limited ("Conbear"). The equity investment was funded with the Company’s cash on hand. The Inenco Group, which is headquartered in Sydney, Australia, is an industrial distributor of bearings, power transmissions, and seals in Australasia, with annual revenues of approximately $325 million and 161 locations across Australia and New Zealand, as well as an emerging presence in Asia. The Company and Conbear both have an option to acquire or sell, respectively, the remaining 65% of Inenco at a later date contingent upon certain conditions being satisfied. However, there can be no guarantee that such conditions will be met or, if they are met, whether either company would exercise its option. On September 22, 2017, the Company entered into a definitive agreement to acquire Alliance Automotive Group (“AAG”). AAG is headquartered in London and is a leading European distributor of vehicle parts, tools and workshop equipment with annual revenues of approximately $1.7 billion . AAG has over 1,800 company-owned stores and affiliated outlets across France, the U.K. and Germany. The acquisition is valued at a total purchase price of approximately $2.0 billion . The Company intends to finance the transaction through a combination of new loan agreements and note issuances. The Company also has available, but does not expect to utilize, a $2.0 billion 364-day unsecured bridge facility. The bridge facility is discussed further in the credit facilities footnote. The Company expects to close on the acquisition in November 2017. On September 25, 2017, the Company entered into a $1.0 billion foreign currency hedge denominated in Euros to hedge the purchase price for AAG acquisition. The hedge does not qualify for hedge accounting.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Accounting	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and therefore do not include all information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. Except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements included in the Annual Report on Form 10-K of Genuine Parts Company (the “Company”) for the year ended December 31, 2016 . Accordingly, the unaudited interim condensed consolidated financial statements and related disclosures herein should be read in conjunction with the Company’s 2016 Annual Report on Form 10-K.
Use of Estimates	The preparation of interim financial statements requires management to make estimates and assumptions for the amounts reported in the condensed consolidated financial statements. Specifically, the Company makes estimates and assumptions in its interim condensed consolidated financial statements for inventory adjustments, the accrual of bad debts, customer sales returns, and volume incentives earned, among others. Inventory adjustments (including adjustments for a majority of inventories that are valued under the last-in, first-out (“LIFO”) method) are accrued on an interim basis and adjusted in the fourth quarter based on the annual book to physical inventory adjustment and LIFO valuation, which is performed each year-end. Reserves for bad debts and customer sales returns are estimated and accrued on an interim basis based upon historical experience. Volume incentives are estimated based upon cumulative and projected purchasing levels. The estimates and assumptions for interim reporting may change upon final determination at year-end, and such changes may be significant.
Segment Reporting	Net sales by segment exclude the effect of certain discounts, incentives and freight billed to customers. The line item “Other” represents the net effect of the discounts, incentives and freight billed to customers, which is reported as a component of net sales in the Company’s condensed consolidated statements of income and comprehensive income.
Recent Accounting Pronouncements	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers ( Topic 606 ) ("ASU 2014-09"), which will create a single, comprehensive revenue recognition model for recognizing revenue from contracts with customers. The standard is effective for interim and annual reporting periods beginning after December 15, 2017 and may be adopted either retrospectively or on a modified retrospective basis. The core principle of the new standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than are required under existing guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation, among others. The Company has established a cross-functional implementation team to evaluate and implement the new standard related to the recognition of revenue from contracts with customers. The Company primarily sells goods and recognizes revenue at point of sale or delivery and this will not change under the new standard. We are completing an analysis of revenue streams at each of the business units and are evaluating the impact the new standard may have on revenue recognition. We expect to finalize our accounting policy in the short-term and implement any necessary changes to processes and controls in the fourth quarter. In addition, the Company is evaluating recently issued guidance on practical expedients as part of the transition decision. The Company plans to use the modified retrospective adoption method and does not believe there will be a material impact to the Company’s consolidated revenues upon adoption. However, the Company will present expanded disclosure in accordance with the requirements of the standard. The Company will continue to evaluate the impacts of the pending adoption of ASU 2014-09 and the preliminary assessments are subject to change. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory ("ASU 2015-11"), which modifies existing requirements regarding measuring first-in, first-out and average cost inventory at the lower of cost or market. Under existing standards, the market amount requires consideration of replacement cost, net realizable value (“NRV”), and NRV less an approximately normal profit margin. ASU 2015-11 replaces market with NRV, defined as estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This eliminates the need to determine and consider replacement cost or NRV less an approximately normal profit margin when measuring inventory. The Company adopted ASU 2015-11 on January 1, 2017 and it did not have a material impact to the Company's condensed consolidated financial statements for the nine months ended September 30, 2017 and it will not have a material impact on the annual consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases ( Topic 842 ) ("ASU 2016-02"), which requires an entity to recognize a right-of-use asset and a lease liability on the balance sheet for all leases, including operating leases, with a term greater than twelve months. Expanded disclosures with additional qualitative and quantitative information will also be required. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018 and early adoption is permitted. The new standard must be adopted using a modified retrospective transition. The Company is currently evaluating the impact of ASU 2016-02 on its condensed consolidated financial statements and related disclosures. As disclosed in the leased properties footnote in the 2016 Annual Report on Form 10-K, the future minimum payments under noncancelable operating leases are approximately $865.0 million and the Company believes the adoption of this standard will have a significant impact on the consolidated balance sheets. In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation ( Topic 718 ): Improvements to Employee Share-Based Payment Accounting ("ASU 2016-09") that changes the accounting for certain aspects of share-based compensation to employees including forfeitures, employer tax withholding, and the financial statement presentation of excess tax benefits or expense. ASU 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based compensation, which prospectively reclassifies cash flows from excess tax benefits of share-based compensation currently disclosed in financing activities to operating activities in the period of adoption. The guidance will increase income tax expense volatility, as well as the Company's cash flows from operations. In addition, the Company did not elect to change shares withheld for employment income tax purposes, or the current methodology of estimating forfeitures upon adoption. The Company adopted ASU 2016-09 on January 1, 2017 on a prospective basis. The adoption of ASU 2016-09 did not have a material impact to the Company's condensed consolidated financial statements for the nine months ended September 30, 2017 and it is not expected to have a material impact on the annual consolidated financial statements or related disclosures. In March 2017, the FASB issued ASU 2017-07, Compensation-Retirement Benefits (Topic 715) ("ASU 2017-07"), which requires an entity to report the service cost component of net periodic benefit cost in the same line item as other compensation costs (selling, administrative and other expenses), and the remaining components in non-operating expense in the consolidated statement of income and comprehensive income. This standard is effective for interim and annual reporting periods beginning after December 15, 2017 and early adoption is permitted. The Company will adopt ASU 2017-07 on January 1, 2018 and it is not expected to have a material impact on the Company’s consolidated financial statements or related disclosures.
Share-based Compensation	As more fully discussed in Note 5 of the Company’s notes to the consolidated financial statements in its 2016 Annual Report on Form 10-K, the Company maintains various long-term incentive plans, which provide for the granting of stock options, stock appreciation rights (“SARs”), restricted stock, restricted stock units (“RSUs”), performance awards, dividend equivalents and other share-based awards. SARs represent a right to receive upon exercise an amount, payable in shares of common stock, equal to the excess, if any, of the fair market value of the Company’s common stock on the date of exercise over the base value of the grant. The terms of such SARs require net settlement in shares of common stock and do not provide for cash settlement. RSUs represent a contingent right to receive one share of the Company’s common stock at a future date. The majority of awards previously granted vest on a pro-rata basis for periods ranging from one to five years and are expensed accordingly on a straight-line basis. The Company issues new shares upon exercise or conversion of awards under these plans. Most awards may be exercised or converted to shares not earlier than twelve months nor later than ten years from the date of grant.
Guarantees	The Company guarantees the borrowings of certain independently controlled automotive parts stores (“independents”) and certain other affiliates in which the Company has a noncontrolling equity ownership interest (“affiliates”). Presently, the independents are generally consolidated by unaffiliated enterprises that have controlling financial interests through ownership of a majority voting interest in the independents. The Company has no voting interest or equity conversion rights in any of the independents. The Company does not control the independents or the affiliates, but receives a fee for the guarantees. The Company has concluded that the independents are variable interest entities, but that the Company is not the primary beneficiary. Specifically, the equity holders of the independents have the power to direct the activities that most significantly impact the entities’ economic performance including, but not limited to, decisions about hiring and terminating personnel, local marketing and promotional initiatives, pricing and selling activities, credit decisions, monitoring and maintaining appropriate inventories, and store hours. Separately, the Company concluded the affiliates are not variable interest entities. The Company’s maximum exposure to loss as a result of its involvement with these independents and affiliates is generally equal to the total borrowings subject to the Company’s guarantees. While such borrowings of the independents and affiliates are outstanding, the Company is required to maintain compliance with certain covenants, including a maximum debt to capitalization ratio and certain limitations on additional borrowings. At September 30, 2017 , the Company was in compliance with all such covenants. In the event that the Company is required to make payments in connection with guaranteed obligations of the independents or the affiliates, the Company would obtain and liquidate certain collateral (e.g., accounts receivable and inventory) to recover all or a portion of the amounts paid under the guarantees. When it is deemed probable that the Company will incur a loss in connection with a guarantee, a liability is recorded equal to this estimated loss.
Fair Value of Financial Instruments	The carrying amounts reflected in the condensed consolidated balance sheets for cash and cash equivalents, trade accounts receivable, trade accounts payable, and borrowings under the line of credit approximate their respective fair values based on the short-term nature of these instruments. The fair value of fixed rate debt is designated as Level 2 in the fair value hierarchy (i.e., significant observable inputs) and is based primarily on the discounted value of future cash flows using current market interest rates offered for debt of similar credit risk and maturity.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Summary of Segment Information	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) (in thousands) Net sales: Automotive $ 2,171,008 $ 2,095,030 $ 6,333,495 $ 6,115,186 Industrial 1,244,234 1,162,224 3,729,183 3,482,246 Office products 509,966 535,175 1,533,372 1,493,434 Electrical/electronic materials 199,236 178,448 588,281 538,803 Other (28,538 ) (29,134 ) (82,606 ) (70,021 ) Total net sales $ 4,095,906 $ 3,941,743 $ 12,101,725 $ 11,559,648 Operating profit: Automotive $ 178,202 $ 197,874 $ 537,291 $ 555,156 Industrial 94,595 85,608 281,269 255,704 Office products 23,974 30,257 85,184 97,101 Electrical/electronic materials 13,547 14,277 42,715 45,105 Total operating segment profit 310,318 328,016 946,459 953,066 Interest expense, net (8,202 ) (5,244 ) (21,254 ) (14,731 ) Other intangible assets amortization (11,845 ) (10,339 ) (34,085 ) (28,324 ) Other, net (43,916 ) (21,076 ) (103,853 ) (71,957 ) Income before income taxes $ 246,355 $ 291,357 $ 787,267 $ 838,054

Other Comprehensive Income (L19

Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Comprehensive Income (Loss)	The difference between comprehensive income and net income was due to foreign currency translation adjustments and pension and other post-retirement benefit adjustments, as summarized below. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) (in thousands) Net income $ 158,442 $ 185,326 $ 508,574 $ 534,720 Other comprehensive income (loss): Foreign currency translation 38,675 11,896 118,852 50,840 Pension and other post-retirement benefit adjustments: Recognition of prior service credit, net of tax (212 ) (222 ) (637 ) (666 ) Recognition of actuarial loss, net of tax 5,992 4,981 17,872 14,934 Total other comprehensive income 44,455 16,655 136,087 65,108 Comprehensive income $ 202,897 $ 201,981 $ 644,661 $ 599,828
Changes in Accumulated Other Comprehensive Income (Loss)	The following tables present the changes in accumulated other comprehensive loss by component for the nine months ended September 30 : 2017 Changes in Accumulated Other Pension and Foreign Total (in thousands) Beginning balance, January 1 $ (609,080 ) $ (403,941 ) $ (1,013,021 ) Other comprehensive income before reclassifications, net of tax — 118,852 118,852 Amounts reclassified from accumulated other comprehensive loss, net of tax 17,235 — 17,235 Net current period other comprehensive income 17,235 118,852 136,087 Ending balance, September 30 $ (591,845 ) $ (285,089 ) $ (876,934 ) 2016 Changes in Accumulated Other Pension and Foreign Total (in thousands) Beginning balance, January 1 $ (535,634 ) $ (394,984 ) $ (930,618 ) Other comprehensive income before reclassifications, net of tax — 50,840 50,840 Amounts reclassified from accumulated other comprehensive loss, net of tax 14,268 — 14,268 Net current period other comprehensive income 14,268 50,840 65,108 Ending balance, September 30 $ (521,366 ) $ (344,144 ) $ (865,510 )

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Income for the Pension Plans	Net periodic benefit income for the pension plans included the following components for the three months ended September 30 : Pension Benefits 2017 2016 (in thousands) Service cost $ 2,240 $ 2,106 Interest cost 24,243 26,195 Expected return on plan assets (38,061 ) (39,296 ) Amortization of prior service credit (88 ) (108 ) Amortization of actuarial loss 9,549 7,860 Net periodic benefit income $ (2,117 ) $ (3,243 ) Net periodic benefit income for the pension plans included the following components for the nine months ended September 30 : Pension Benefits 2017 2016 (in thousands) Service cost $ 6,530 $ 6,257 Interest cost 72,474 78,505 Expected return on plan assets (117,475 ) (117,767 ) Amortization of prior service credit (263 ) (324 ) Amortization of actuarial loss 28,500 23,530 Net periodic benefit income $ (10,234 ) $ (9,799 )

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Net sales	$ 4,095,906	$ 3,941,743	$ 12,101,725	$ 11,559,648
Income before income taxes	246,355	291,357	787,267	838,054
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating profit	310,318	328,016	946,459	953,066
Operating Segments [Member] | Automotive [Member]
Segment Reporting Information [Line Items]
Net sales	2,171,008	2,095,030	6,333,495	6,115,186
Operating profit	178,202	197,874	537,291	555,156
Operating Segments [Member] | Industrial [Member]
Segment Reporting Information [Line Items]
Net sales	1,244,234	1,162,224	3,729,183	3,482,246
Operating profit	94,595	85,608	281,269	255,704
Operating Segments [Member] | Office Products [Member]
Segment Reporting Information [Line Items]
Net sales	509,966	535,175	1,533,372	1,493,434
Operating profit	23,974	30,257	85,184	97,101
Operating Segments [Member] | Electrical/Electronic Materials [Member]
Segment Reporting Information [Line Items]
Net sales	199,236	178,448	588,281	538,803
Operating profit	13,547	14,277	42,715	45,105
Other [Member]
Segment Reporting Information [Line Items]
Net sales	(28,538)	(29,134)	(82,606)	(70,021)
Interest expense, net	(8,202)	(5,244)	(21,254)	(14,731)
Other intangible assets amortization	(11,845)	(10,339)	(34,085)	(28,324)
Other, net	$ (43,916)	$ (21,076)	$ (103,853)	$ (71,957)

Other Comprehensive Income (L22

Other Comprehensive Income (Loss) - Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity [Abstract]
Net income	$ 158,442	$ 185,326	$ 508,574	$ 534,720
Other comprehensive income (loss):
Foreign currency translation	38,675	11,896	118,852	50,840
Pension and other post-retirement benefit adjustments:
Recognition of prior service credit, net of tax	(212)	(222)	(637)	(666)
Recognition of actuarial loss, net of tax	5,992	4,981	17,872	14,934
Total other comprehensive income	44,455	16,655	136,087	65,108
Comprehensive income	$ 202,897	$ 201,981	$ 644,661	$ 599,828

Other Comprehensive Income (L23

Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) by Component (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
AOCI Attributable to Parent [Roll Forward]
Beginning balance, January 1			$ 3,193,728
Other comprehensive income before reclassifications, net of tax			118,852	$ 50,840
Amounts reclassified from accumulated other comprehensive loss, net of tax			17,235	14,268
Total other comprehensive income	$ 44,455	$ 16,655	136,087	65,108
Ending balance, September 30	3,378,235		3,378,235
Pension and Other Post-Retirement Benefits [Member]
AOCI Attributable to Parent [Roll Forward]
Beginning balance, January 1			(609,080)	(535,634)
Other comprehensive income before reclassifications, net of tax			0	0
Amounts reclassified from accumulated other comprehensive loss, net of tax			17,235	14,268
Total other comprehensive income			17,235	14,268
Ending balance, September 30	(591,845)	(521,366)	(591,845)	(521,366)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
AOCI Attributable to Parent [Roll Forward]
Beginning balance, January 1			(403,941)	(394,984)
Other comprehensive income before reclassifications, net of tax			118,852	50,840
Amounts reclassified from accumulated other comprehensive loss, net of tax			0	0
Total other comprehensive income			118,852	50,840
Ending balance, September 30	(285,089)	(344,144)	(285,089)	(344,144)
AOCI Attributable to Parent [Member]
AOCI Attributable to Parent [Roll Forward]
Beginning balance, January 1			(1,013,021)	(930,618)
Ending balance, September 30	$ (876,934)	$ (865,510)	$ (876,934)	$ (865,510)

Recent Accounting Pronounceme24

Recent Accounting Pronouncements (Details) $ in Millions	Dec. 31, 2016USD ($)
Accounting Changes and Error Corrections [Abstract]
Future minimum payments due	$ 865

Credit Facilities (Detail)

Credit Facilities (Detail) - USD ($)	Sep. 30, 2017	Sep. 22, 2017	Jun. 30, 2017
Bridge Loan [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 2,000,000,000
Line of Credit [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 1,200,000,000
Line of credit, current	$ 595,000,000

Share-Based Compensation (Detai

Share-Based Compensation (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares received per restricted stock unit (in shares)			1
Total compensation cost related to nonvested awards, unrecognized	$ 38		$ 38		$ 34.6
Weighted-average period to recognize compensation cost (in years)			3 years
Aggregate intrinsic value for outstanding SARs and RSUs	$ 105.7		$ 105.7
Aggregate intrinsic value for vested SARs and RSUs			$ 55.5
Weighted-average remaining contractual life for outstanding SARs and RSUs (in years)			6 years
Weighted-average remaining contractual life for exercisable SARs and RSUs, (in years)			5 years
Share-based compensation			$ 12.9	$ 15.4
Outstanding options to purchase common shares not included in dilutive shares (in shares)	2,500,000	700,000	1,900,000	1,200,000
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)			746,000
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)			171,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award granted vesting period range (in years)			1 year
Share-based payment, awards exercise period (in years and months)			12 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award granted vesting period range (in years)			5 years
Share-based payment, awards exercise period (in years and months)			10 years

Employee Benefit Plans - Compo

Employee Benefit Plans - Components of Net Periodic Benefit Income for the Pension Plans (Detail) - Pension Benefits [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2,240	$ 2,106	$ 6,530	$ 6,257
Interest cost	24,243	26,195	72,474	78,505
Expected return on plan assets	(38,061)	(39,296)	(117,475)	(117,767)
Amortization of prior service credit	(88)	(108)	(263)	(324)
Amortization of actuarial loss	9,549	7,860	28,500	23,530
Net periodic benefit income	$ (2,117)	$ (3,243)	$ (10,234)	$ (9,799)

Employee Benefit Plans - Addit

Employee Benefit Plans - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Retirement Benefits [Abstract]
Contribution to the pension plan	$ 38.7

Guarantees (Detail)

Guarantees (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Guarantor Obligations [Line Items]
Total borrowings of the independents and affiliates subject to guarantee	$ 554.2
Guarantees related to borrowings, other assets	59
Guarantor obligation, current carrying value	$ 59
Minimum [Member]
Guarantor Obligations [Line Items]
Guaranteed obligations maturity (in years)	1 year
Maximum [Member]
Guarantor Obligations [Line Items]
Guaranteed obligations maturity (in years)	6 years

Fair Value of Financial Instr30

Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of fixed rate debt	$ 550,000	$ 550,000
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of fixed rate debt	550,000
Fair value of fixed rate debt	$ 563,600

Legal Matters (Detail)

Legal Matters (Detail) $ in Millions	Apr. 17, 2017USD ($)
Pending Litigation [Member]
Loss Contingencies [Line Items]
Jury awarded damages	$ 81.5
Judicial Ruling [Member]
Loss Contingencies [Line Items]
Jury awarded damages	$ 77.1

Acquisitions and Equity Inves32

Acquisitions and Equity Investments (Detail)	Apr. 03, 2017USD ($)Location	Nov. 30, 2017USD ($)	Sep. 30, 2017USD ($)Store	Sep. 25, 2017USD ($)	Sep. 22, 2017USD ($)
Bridge Loan [Member]
Business Acquisition [Line Items]
Maximum borrowing capacity					$ 2,000,000,000
2017 Acquisitions [Member]
Business Acquisition [Line Items]
Payment to acquire companies and equity investments			$ 266,400,000
Goodwill			105,400,000
Inenco Group [Member]
Business Acquisition [Line Items]
Percentage of voting interests acquired	35.00%
Payments to equity method investments	$ 72,100,000
Revenue reported by acquired entity for last annual period	$ 325,000,000
Number of locations of acquired entity | Location	161
Percentage of voting interests with option to be acquired	65.00%
Alliance Automotive Group [Member]
Business Acquisition [Line Items]
Revenue reported by acquired entity for last annual period			$ 1,700,000,000
Number of stores | Store			1,800
Alliance Automotive Group [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Business Acquisition [Line Items]
Derivative, notional amount				$ 1,000,000,000
Alliance Automotive Group [Member] | Scenario, Forecast [Member]
Business Acquisition [Line Items]
Purchase price		$ 2,000,000,000