Genuine Parts (GPC) 10-Q 18 Oct 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page	9 Months Ended
	Sep. 30, 2019shares
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-5690
Entity Registrant Name	GENUINE PARTS CO
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	58-0254510
Entity Address, Address Line One	2999 WILDWOOD PARKWAY,
Entity Address, Postal Zip Code	30339
Entity Address, City or Town	ATLANTA,
Entity Address, State or Province	GA
City Area Code	678
Local Phone Number	934-5000
Title of 12(b) Security	Common Stock, $1.00 par value per share
Trading Symbol	GPC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	145,293,115
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000040987
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 451,275	$ 333,547
Trade accounts receivable, less allowance for doubtful accounts (2019 – $32,374; 2018 – $21,888)	2,739,971	2,493,636
Merchandise inventories, net	3,718,307	3,609,389
Prepaid expenses and other current assets	1,149,118	1,139,118
Total current assets	8,058,671	7,575,690
Goodwill	2,278,066	2,128,776
Other intangible assets, less accumulated amortization	1,523,656	1,411,642
Deferred tax assets	30,301	29,509
Property, plant and equipment, less accumulated depreciation (2019 – $1,341,995; 2018 – $1,208,694)	1,118,912	1,027,231
Operating lease assets	1,048,462	0
Other assets	455,122	510,192
Total assets	14,513,190	12,683,040
Current liabilities:
Trade accounts payable	4,195,869	3,995,789
Current portion of debt	622,132	711,147
Dividends payable	110,784	105,369
Other current liabilities	1,444,028	1,088,428
Total current liabilities	6,372,813	5,900,733
Long-term debt	2,795,878	2,432,133
Operating lease liabilities	797,166	0
Pension and other post–retirement benefit liabilities	202,188	235,228
Deferred tax liabilities	236,064	196,843
Other long-term liabilities	444,344	446,112
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 – 2019 – 145,293,115 shares; 2018 – 145,936,613 shares	145,293	145,937
Additional paid-in capital	90,560	78,380
Retained earnings	4,674,918	4,341,212
Accumulated other comprehensive loss	(1,268,580)	(1,115,078)
Total parent equity	3,642,191	3,450,451
Noncontrolling interests in subsidiaries	22,546	21,540
Total equity	3,664,737	3,471,991
Total liabilities and equity	$ 14,513,190	$ 12,683,040

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 32,374	$ 21,888
Accumulated depreciation	$ 1,341,995	$ 1,208,694
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)	145,293,115	145,936,613
Common stock, shares outstanding (in shares)	145,293,115	145,936,613

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net sales	$ 5,015,023	$ 4,722,922	$ 14,686,116	$ 14,131,281
Cost of goods sold	3,390,597	3,238,687	9,954,941	9,689,653
Gross profit	1,624,426	1,484,235	4,731,175	4,441,628
Operating expenses:
Selling, administrative and other expenses	1,269,893	1,119,266	3,684,026	3,401,254
Depreciation and amortization	68,922	61,082	197,053	177,896
Provision for doubtful accounts	1,693	4,939	11,624	11,306
Total operating expenses	1,340,508	1,185,287	3,892,703	3,590,456
Non-operating (income) expenses:
Interest expense	26,485	25,084	73,664	75,669
Other	(47,100)	(17,871)	(53,366)	(45,822)
Total non-operating (income) expenses	(20,615)	7,213	20,298	29,847
Income before income taxes	304,533	291,735	818,174	821,325
Income taxes	77,046	71,508	206,007	197,550
Net income	$ 227,487	$ 220,227	$ 612,167	$ 623,775
Basic net income per common share (usd per share)	$ 1.56	$ 1.50	$ 4.20	$ 4.25
Diluted net income per common share (usd per share)	1.56	1.49	4.18	4.23
Dividends declared per common share (usd per share)	$ 0.7625	$ 0.7200	$ 2.2875	$ 2.1600
Weighted average common shares outstanding (in shares)	145,572	146,763	145,875	146,746
Dilutive effect of stock options and non-vested restricted stock awards (in shares)	617	690	654	574
Weighted average common shares outstanding - assuming dilution (in shares)	146,189	147,453	146,529	147,320
Other comprehensive loss, net of income taxes:
Foreign currency translation adjustments	$ (126,350)	$ (26,590)	$ (88,369)	$ (147,703)
Cash flow and net investment hedge adjustments, net of income taxes in 2019 — $16,988 and $15,057; 2018 — $278 and $6,213 respectively	45,925	752	40,704	16,797
Pension and postretirement benefit adjustments, net of income taxes in 2019 — $2,592 and $6,166; 2018 — $2,560 and $7,850 respectively	7,024	6,912	16,689	21,221
Other comprehensive loss, net of income taxes	(73,401)	(18,926)	(30,976)	(109,685)
Comprehensive income	$ 154,086	$ 201,301	$ 581,191	$ 514,090

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net investment hedge, tax	$ 16,988	$ 278	$ 15,057	$ 6,213
Pension and postretirement benefit adjustments, tax	$ 2,592	$ 2,560	$ 6,166	$ 7,850

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Total Parent Equity	Non-controlling Interests in Subsidiaries
Beginning balance (in shares) at Dec. 31, 2017		146,652,615
Beginning balance at Dec. 31, 2017	$ 3,464,156	$ 146,653	$ 68,126	$ (852,592)	$ 4,049,965	$ 3,412,152	$ 52,004
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	623,775				623,775	623,775
Other comprehensive loss, net of tax	(109,685)			(109,685)		(109,685)
Cash dividends declared	(316,984)				(316,984)	(316,984)
Share-based awards exercised, including tax benefit (in shares)		125,946
Share-based awards exercised, including tax benefit	(5,860)	$ 125	(5,985)			(5,860)
Share-based compensation	15,417		15,417			15,417
Purchase of stock (in shares)		(19,288)
Purchase of stock	(1,918)	$ (19)			(1,899)	(1,918)
Noncontrolling interest activities	21						21
Ending balance (in shares) at Sep. 30, 2018		146,759,273
Ending balance at Sep. 30, 2018	3,663,079	$ 146,759	77,558	(962,277)	4,349,014	3,611,054	52,025
Beginning balance (in shares) at Jun. 30, 2018		146,752,732
Beginning balance at Jun. 30, 2018	3,562,327	$ 146,753	72,211	(943,351)	4,236,359	3,511,972	50,355
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	220,227				220,227	220,227
Other comprehensive loss, net of tax	(18,926)			(18,926)		(18,926)
Cash dividends declared	(105,673)				(105,673)	(105,673)
Share-based awards exercised, including tax benefit (in shares)		25,829
Share-based awards exercised, including tax benefit	(1,010)	$ 25	(1,035)			(1,010)
Share-based compensation	6,382		6,382			6,382
Purchase of stock (in shares)		(19,288)
Purchase of stock	(1,918)	$ (19)			(1,899)	(1,918)
Noncontrolling interest activities	1,670						1,670
Ending balance (in shares) at Sep. 30, 2018		146,759,273
Ending balance at Sep. 30, 2018	3,663,079	$ 146,759	77,558	(962,277)	4,349,014	3,611,054	52,025
Beginning balance (in shares) at Dec. 31, 2018		145,936,613
Beginning balance at Dec. 31, 2018	3,471,991	$ 145,937	78,380	(1,115,078)	4,341,212	3,450,451	21,540
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	612,167				612,167	612,167
Other comprehensive loss, net of tax	(30,976)			(30,976)		(30,976)
Cash dividends declared	(333,521)				(333,521)	(333,521)
Share-based awards exercised, including tax benefit (in shares)		144,709
Share-based awards exercised, including tax benefit	(7,495)	$ 145	(7,640)			(7,495)
Share-based compensation	19,820		19,820			19,820
Purchase of stock (in shares)		(788,207)
Purchase of stock	(73,052)	$ (789)			(72,263)	(73,052)
Noncontrolling interest activities	1,006						1,006
Ending balance (in shares) at Sep. 30, 2019		145,293,115
Ending balance at Sep. 30, 2019	3,664,737	$ 145,293	90,560	(1,268,580)	4,674,918	3,642,191	22,546
Beginning balance (in shares) at Jun. 30, 2019		146,078,369
Beginning balance at Jun. 30, 2019	3,687,975	$ 146,078	83,949	(1,195,179)	4,630,480	3,665,328	22,647
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	227,487				227,487	227,487
Other comprehensive loss, net of tax	(73,401)			(73,401)		(73,401)
Cash dividends declared	(110,786)				(110,786)	(110,786)
Share-based awards exercised, including tax benefit (in shares)		2,953
Share-based awards exercised, including tax benefit	(124)	$ 4	(128)			(124)
Share-based compensation	6,739		6,739			6,739
Purchase of stock (in shares)		(788,207)
Purchase of stock	(73,052)	$ (789)			(72,263)	(73,052)
Noncontrolling interest activities	(101)						(101)
Ending balance (in shares) at Sep. 30, 2019		145,293,115
Ending balance at Sep. 30, 2019	$ 3,664,737	$ 145,293	$ 90,560	$ (1,268,580)	$ 4,674,918	$ 3,642,191	$ 22,546

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share (usd per share)	$ 0.7625	$ 0.7200	$ 2.2875	$ 2.1600
Tax effect on stock options exercised	$ 68	$ 480	$ 4,054	$ 3,079

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating activities:
Net income	$ 612,167	$ 623,775
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	197,053	177,896
Share-based compensation	19,820	15,417
Excess tax benefits from share-based compensation	(4,054)	(3,079)
Other non-operating activities	(22,329)	0
Changes in operating assets and liabilities	(57,445)	111,517
Net cash provided by operating activities	745,212	925,526
Investing activities:
Purchases of property, plant and equipment	(182,612)	(91,942)
Proceeds from divestitures of businesses	416,784	0
Acquisitions of businesses and other investing activities	(625,565)	(153,988)
Net cash used in investing activities	(391,393)	(245,930)
Financing activities:
Proceeds from debt	3,928,716	3,406,975
Payments on debt	(3,749,509)	(3,710,934)
Share-based awards exercised	(7,495)	(5,860)
Dividends paid	(328,106)	(310,310)
Purchases of stock	(73,052)	(1,918)
Net cash used in financing activities	(229,446)	(622,047)
Effect of exchange rate changes on cash and cash equivalents	(6,645)	(13,343)
Net increase in cash and cash equivalents	117,728	44,206
Cash and cash equivalents at beginning of period	333,547	314,899
Cash and cash equivalents at end of period	$ 451,275	$ 359,105

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
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 U.S. ("U.S. GAAP") 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,” "we," "our," "us," or "its") for the year ended December 31, 2018 . Accordingly, the unaudited interim condensed consolidated financial statements and related disclosures herein should be read in conjunction with the Company’s 2018 Annual Report on Form 10-K. The preparation of interim financial statements requires management to make estimates and assumptions that affect the amounts reported in the interim 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. 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 months ended September 30, 2019

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information The following table presents a summary of the Company's reportable segment financial information: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net sales: Automotive $ 2,790,607 $ 2,649,716 $ 8,187,760 $ 7,950,176 Industrial 1,732,831 1,577,329 5,049,975 4,727,938 Business products 491,585 495,877 1,448,381 1,453,167 Total net sales $ 5,015,023 $ 4,722,922 $ 14,686,116 $ 14,131,281 Operating profit: Automotive $ 222,100 $ 226,742 $ 629,713 $ 655,059 Industrial 137,525 119,153 394,887 356,535 Business products 21,611 19,846 63,727 62,869 Total operating profit 381,236 365,741 1,088,327 1,074,463 Interest expense, net (24,770 ) (21,881 ) (70,313 ) (70,713 ) Intangible asset amortization (26,224 ) (23,593 ) (72,725 ) (66,802 ) Corporate expense (1) (25,709 ) (28,532 ) (127,115 ) (115,623 ) Income before income taxes $ 304,533 $ 291,735 $ 818,174 $ 821,325 (1) Includes $12,413 of income and $25,809 of expense for the three and nine months ended September 30, 2019 , respectively, in certain transaction and other costs related to acquisitions and dispositions. Also includes the realized currency losses incurred on the March 7, 2019 sale of Grupo Auto Todo and the September 30, 2019 sale of EIS Inc. ("EIS"), net of a gain from remeasuring the Company's preexisting 35% equity investment to fair value upon acquiring the remaining equity of Inenco on July 1, 2019. Refer to the acquisitions and divestitures footnote for further details. Includes $3,104 of income and $19,010 of expense for the three and nine months ended September 30, 2018 , respectively, in certain transaction and other costs related to the acquisition of Alliance Automotive Group ("AAG") and the attempted Business Products Group spin-off, net of a $12,000 termination fee received in the third quarter of 2018. Net sales are disaggregated by geographical region for each of the Company’s reportable segments, as the Company deems this presentation best depicts how the nature, amount, timing and uncertainty of net sales and cash flows are affected by economic factors. The following table presents disaggregated geographical net sales from contracts with customers by reportable segment: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 North America: Automotive $ 1,942,922 $ 1,918,814 $ 5,720,290 $ 5,646,108 Industrial 1,624,303 1,577,329 4,941,447 4,727,938 Business products 491,585 495,877 1,448,381 1,453,167 Total North America $ 4,058,810 $ 3,992,020 $ 12,110,118 $ 11,827,213 Australasia: Automotive 295,424 298,797 866,694 903,600 Industrial 108,528 — 108,528 — Total Australasia 403,952 298,797 975,222 903,600 Europe – Automotive 552,261 432,105 1,600,776 1,400,468 Total net sales $ 5,015,023 $ 4,722,922 $ 14,686,116 $ 14,131,281

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following tables present the changes in accumulated other comprehensive loss ("AOCL") by component for the nine months ended September 30 : Changes in Accumulated Other Pension and Other Post-Retirement Benefits Cash Flow and Net Investment Hedges Foreign Currency Translation Total Beginning balance, January 1, 2019 $ (626,322 ) $ 10,726 $ (499,482 ) $ (1,115,078 ) Other comprehensive loss before reclassifications — 54,180 (123,070 ) (68,890 ) Amounts reclassified from accumulated other comprehensive loss (1) 22,855 1,581 34,701 59,137 Income taxes (6,166 ) (15,057 ) — (21,223 ) Other comprehensive loss, net of income taxes 16,689 40,704 (88,369 ) (30,976 ) Cumulative effect from adoption of ASU 2018-02 (122,526 ) — — (122,526 ) Ending balance, September 30, 2019 $ (732,159 ) $ 51,430 $ (587,851 ) $ (1,268,580 ) (1) Amount includes realized currency losses of $34,701 that were reclassified out of foreign currency translation into earnings in connection with the March 7, 2019 sale of Grupo Auto Todo and the September 30, 2019 sale of EIS. Refer to the acquisitions and divestitures footnote for further details. Changes in Accumulated Other Pension and Other Post-Retirement Benefits Cash Flow and Net Investment Hedges Foreign Currency Translation Total Beginning balance, January 1, 2018 $ (568,957 ) $ (17,388 ) $ (266,247 ) $ (852,592 ) Other comprehensive loss before reclassifications — 22,124 (147,703 ) (125,579 ) Amounts reclassified from accumulated other comprehensive loss 29,071 886 — 29,957 Income taxes (7,850 ) (6,213 ) — (14,063 ) Other comprehensive loss, net of income taxes 21,221 16,797 (147,703 ) (109,685 ) Ending balance, September 30, 2018 $ (547,736 ) $ (591 ) $ (413,950 ) $ (962,277 ) 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. The nature of the cash flow and net investment hedges are discussed in the derivatives and hedging footnote. Generally, tax effects in accumulated other comprehensive loss are established at the currently enacted tax rate and reclassified to net income in the same period that the related pre-tax accumulated other comprehensive loss reclassifications are recognized.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2019
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board ("FASB") in the form of ASUs to the FASB Accounting Standards Codification ("ASC"). The Company considers the applicability and impact of all ASUs and any not listed below were assessed and determined to be not applicable or are expected to have a minimal impact on the Company's condensed consolidated financial statements. Leases (Topic 842) In February 2016, the FASB issued ASU 2016-02, Leases , which, among other things, requires an entity to recognize a right-of-use asset and a lease liability on the balance sheet for substantially all leases, including operating leases. Expanded disclosures with additional qualitative and quantitative information are also required. ASU 2016-02 and its amendments were effective for interim and annual reporting periods beginning after December 15, 2018 and early adoption was permitted. The ASU's transition provisions could be applied under a modified retrospective approach to each prior reporting period presented in the financial statements or only at the beginning of the period of adoption (i.e., on the effective date). The Company adopted ASU 2016-02 and its amendments and applied the transition provisions as of January 1, 2019, which included recognizing a cumulative-effect adjustment through opening retained earnings as of that date. Prior year amounts were not recast under this transition approach and, therefore, prior year amounts are excluded from the leased properties footnote. The Company elected the package of practical expedients permitted under the transition guidance, which allowed the Company to carryforward its historical assessments of: (1) whether contracts are or contain leases, (2) lease classification and (3) initial direct costs. In addition, the Company did not elect the hindsight practical expedient to determine the reasonably certain lease term for existing leases. The Company elected a policy of not recording leases on its condensed consolidated balance sheets when the leases have a term of 12 months or less and the Company is not reasonably certain to elect an option to purchase the leased asset. The Company recognizes payments on these leases within selling, administrative and other expenses on a straight-line basis over the lease term. The Company's adoption of the standard resulted in a cumulative-effect adjustment to retained earnings of $4,797 , net of taxes, as of January 1, 2019. The standard did not materially impact the Company's consolidated net income or liquidity. The standard did not have an impact on debt-covenant compliance under the Company's current debt agreements. Income Statement - Reporting Comprehensive Income (Topic 220) In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The ASU permits a company to make a one-time election to reclassify stranded tax effects caused by the Tax Cuts and Jobs Act from accumulated other comprehensive income to retained earnings. The ASU also requires companies to disclose their accounting policies for releasing income tax effects from accumulated other comprehensive income. ASU 2018-02 was effective for periods beginning after December 15, 2018, with an election to adopt early. The Company adopted ASU 2018-02 as of January 1, 2019 and recognized an adjustment to increase retained earnings and to adjust accumulated other comprehensive loss by approximately $122,526 . Financial Instruments - Credit Losses (Topic 220) In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments . Among other things, the ASU and its amendments replace the incurred loss impairment model for receivables and certain other financial instruments with a current expected credit loss model. The new model measures impairment based on expected credit losses over the remaining contractual life of an asset, considering available information about the collectability of cash flows, past events, current conditions, and reasonable and supportable forecasts. Additional quantitative and qualitative disclosures are required. ASU 2016-13 is effective for periods beginning after December 15, 2019, with an option to adopt early. The Company plans to adopt the ASU and its amendments on January 1, 2020, and any changes to allowances for credit losses caused by the adoption will be made through a cumulative effect adjustment to retained earnings as of that date. The adoption of ASU 2016-13 and its amendments is not expected to have a significant impact on the Company's consolidated financial statements. Compensation - Retirement Benefits (Topic 715) In August 2018, the FASB issued ASU 2018-14, Changes to the Disclosure Requirements for Defined Benefit Plans . The updated accounting guidance modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by removing, adding and clarifying certain disclosures. These provisions must be applied retrospectively. ASU 2018-14 is effective for periods beginning after December 15, 2020, with an option to adopt early. The adoption of ASU 2018-14 is not expected to have a significant impact on the Company’s financial position, results of operations or disclosures. The Company does not plan to early adopt the standard.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Net periodic benefit income from the Company's pension plans included the following components for the three months ended September 30 : Pension Benefits 2019 2018 Service cost $ 2,395 $ 2,584 Interest cost 24,362 22,044 Expected return on plan assets (38,551 ) (38,470 ) Amortization of prior service credit (17 ) (37 ) Amortization of actuarial loss 7,752 9,920 Net periodic benefit income $ (4,059 ) $ (3,959 ) Net periodic benefit income from the Company's pension plans included the following components for the nine months ended September 30 : Pension Benefits 2019 2018 Service cost $ 7,164 $ 7,850 Interest cost 73,045 66,228 Expected return on plan assets (115,585 ) (115,574 ) Amortization of prior service credit (51 ) (111 ) Amortization of actuarial loss 23,247 29,814 Net periodic benefit income $ (12,180 ) $ (11,793 )

Guarantees

Guarantees	9 Months Ended
	Sep. 30, 2019
Guarantees [Abstract]
Guarantees	Guarantees The Company guarantees the borrowings of certain independently controlled automotive parts stores and businesses (“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 that 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, 2019 , the Company was in compliance with all such covenants. As of September 30, 2019 , the total borrowings of the independents and affiliates subject to guarantee by the Company were approximately $864,398 . 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 these guarantees, the Company would obtain and liquidate certain collateral pledged by the independents or affiliates (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, 2019 , the Company has recognized certain assets and liabilities amounting to $87,000 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, 2019
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 and term loan approximate their respective fair values based on the short-term nature of these instruments. As of September 30, 2019 , the carrying amount, net of debt issuance costs, and the fair value of fixed rate debt were approximately $1,913,359 and $2,017,415 , 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 amount, net of debt issuance costs, of fixed rate debt of $1,913,359 is included in long-term debt in the condensed consolidated balance sheets. Refer to the derivatives and hedging footnote for information on the fair value of derivative instruments.

Credit Facilities

Credit Facilities	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Credit Facilities	Credit Facilities On May 31, 2019, the Company entered into a private placement agreement of €250,000 long-term fixed rate debt. The €250,000 of long-term fixed rate debt includes €50,000 , 1.55% Series A Guaranteed Senior Note maturing on May 31, 2029, €100,000 , 1.74% Series B Guaranteed Senior Note maturing on May 31, 2031 and €100,000 , 1.95% Series C Guaranteed Senior Note maturing on May 31, 2034. On June 30, 2019, the Company entered into a private placement agreement of Australian dollar ("A$") denominated long-term fixed rate debt of A$310,000 . The A$310,000 of long-term fixed rate debt includes A$155,000 , 3.10% Series A Guaranteed Senior Note maturing on June 30, 2024 and A$155,000 , 3.43% Series B Guaranteed Senior Note maturing on June 30, 2026. All borrowings require the Company to comply with a financial covenant with respect to a maximum debt to earnings before interest, taxes, depreciation and amortization ("EBITDA") ratio. At September 30, 2019 , the Company was in compliance with all such covenants. For information on the Company's other credit facilities please see the Company's 2018

Derivatives and Hedging

Derivatives and Hedging	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Derivatives and Hedging The Company is exposed to various risks arising from business operations and market conditions, including fluctuations in interest rates and certain foreign currencies. When deemed appropriate, the Company uses derivative and non-derivative instruments as risk management tools to mitigate the potential impact of interest rate and foreign exchange rate risks. The objective of using these tools is to reduce fluctuations in the Company’s earnings and cash flows associated with changes in these rates. Derivative financial instruments are not used for trading or other speculative purposes. The Company has not historically incurred, and does not expect to incur in the future, any losses as a result of counterparty default related to derivative instruments. The Company formally documents relationships between hedging instruments and hedged items, as well as the risk management objective and strategy for undertaking various hedge transactions. This process includes linking cash flow hedges to specific forecasted transactions or variability of cash flow to be paid. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the designated derivative and non-derivative instruments that are used in hedging transactions are highly effective in offsetting changes in the cash flows of the hedged items. When a designated instrument is determined not to be highly effective as a hedge or the underlying hedged transaction is no longer probable, hedge accounting is discontinued prospectively. The following table summarizes the location and carrying amounts of the derivative instruments and the foreign currency denominated debt, a non-derivative financial instrument, that are designated and qualify as part of hedging relationships: September 30, 2019 December 31, 2018 Instrument Balance sheet location Notional Balance Notional Balance Cash flow hedges: Interest rate swaps Other current liabilities $ 800,000 $ 29,832 $ 500,000 $ 6,345 Net investment hedges: Cross-currency swap Prepaid expenses and other current assets — — $ 500,000 $ 6,006 Forward contracts Prepaid expenses and other current assets $ 925,810 $ 55,050 — — Foreign currency debt Long-term debt € 700,000 $ 765,870 € 700,000 $ 801,010 The derivative instruments are recognized in the condensed consolidated balance sheets at fair value and are designated as Level 2 in the fair value hierarchy. They are valued using inputs other than quoted prices, such as foreign exchange rates and yield curves. Cash Flow Hedges The Company uses interest rate swaps to mitigate variability in forecasted interest payments on a portion of the Company’s U.S. dollar-denominated unsecured variable rate debt. The interest rate swaps effectively convert a portion of the floating rate interest payment into a fixed rate interest payment. The Company designates the interest rate swaps as qualifying hedging instruments and accounts for them as cash flow hedges. Gains and losses from fair value adjustments on the cash flow hedges are initially classified in accumulated other comprehensive loss and are reclassified to interest expense on the dates interest payments are accrued. Hedges of Net Investments in Foreign Operations The Company has designated certain derivative instruments and a portion of its foreign currency denominated debt, a non-derivative financial instrument, as hedges of the foreign currency exchange rate exposure of the Company's Euro-denominated net investment in a European subsidiary. The Company applies the spot method to assess the hedge effectiveness of the derivative instruments and this assessment for each instrument excludes the initial value related to the difference at contract inception between the foreign exchange spot rate and the forward rate (i.e., the forward points). The initial value of this excluded component is recognized as a reduction to interest expense in a systematic and rational manner over the term of the derivative instrument. All other changes in value for the net investment hedges are included in accumulated other comprehensive loss and would only be reclassified to earnings if the European subsidiary were liquidated, or otherwise disposed. The table below presents gains and losses related to designated cash flow hedges and net investment hedges: Gain (Loss) Recognized in AOCL Before Reclassifications Gain Recognized in Interest Expense For Excluded Components 2019 2018 2019 2018 Three Months Ended September 30, Cash Flow Hedges: Interest rate contract $ (3,766 ) $ 1,079 $ — $ — Net Investment Hedges: Cross-currency swap $ — $ (6,536 ) $ — $ 3,256 Forward contracts 35,796 — 5,596 — Foreign currency debt 30,030 5,600 — — Total $ 62,060 $ 143 $ 5,596 $ 3,256 Nine Months Ended September 30, Cash Flow Hedges: Interest rate contract $ (25,332 ) $ 1,079 $ — $ — Net Investment Hedges: Cross-currency swap $ 2,936 $ (6,536 ) $ 2,294 $ 3,256 Forward contracts 41,436 — 12,220 — Foreign currency debt 35,140 27,581 — — Total $ 54,180 $ 22,124 $ 14,514 $ 3,256 Amounts reclassified from accumulated other comprehensive loss to interest expense for the periods presented were not material.

Leased Properties

Leased Properties	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leased Properties	Leased Properties The Company primarily leases real estate for certain retail stores, distribution centers, office space and land. The Company also leases equipment (primarily vehicles). Most real estate leases include one or more options to renew, with renewal terms that generally can extend the lease term from one to 20 years . The exercise of lease renewal options is at the Company's discretion. The Company evaluates renewal options at lease inception and on an ongoing basis, and includes renewal options that it is reasonably certain to exercise in its expected lease terms when classifying leases and measuring lease liabilities. Lease agreements generally do not require material variable lease payments, residual value guarantees or restrictive covenants. The table below presents the locations of the operating lease assets and liabilities on the condensed consolidated balance sheets as of September 30, 2019 : Balance Sheet Line Item September 30, 2019 Operating lease assets Operating lease assets $ 1,048,462 Operating lease liabilities: Current operating lease liabilities Other current liabilities $ 274,687 Noncurrent operating lease liabilities Operating lease liabilities 797,166 Total operating lease liabilities $ 1,071,853 The depreciable lives of operating lease assets and leasehold improvements are limited by the expected lease term. The Company's leases generally do not provide an implicit rate, and therefore the Company uses its incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease within a particular currency environment. The Company used incremental borrowing rates as of January 1, 2019 for operating leases that commenced prior to that date. The Company's weighted average remaining lease term and weighted average discount rate for operating leases as of September 30, 2019 are: Weighted average remaining lease term (in years) 5.58 Weighted average discount rate 3.21 % The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under noncancelable operating leases with terms of more than one year to the total operating lease liabilities recognized on the condensed consolidated balance sheets as of September 30, 2019 : October 1, 2019 through December 31, 2019 $ 77,339 2020 296,219 2021 230,421 2022 173,932 2023 122,529 Thereafter 276,067 Total undiscounted future minimum lease payments 1,176,507 Less: Difference between undiscounted lease payments and discounted operating lease liabilities 104,654 Total operating lease liabilities $ 1,071,853 Operating lease payments include $53,104 related to options to extend lease terms that are reasonably certain of being exercised. Operating lease costs were $86,704 and $244,090 for the three and nine months ended September 30, 2019 , respectively. Operating lease costs are included within selling, administrative and other expenses on the condensed consolidated statements of income and comprehensive income. Short-term lease costs, variable lease costs and sublease income were not material for the periods presented. Cash paid for amounts included in the measurement of operating lease liabilities were $234,860 for the nine months ended September 30, 2019 , and this amount is included in operating activities in the condensed consolidated statements of cash flows. Operating lease assets obtained in exchange for new operating lease liabilities were $277,900 for the nine months ended September 30, 2019

Commitments & Contingencies

Commitments & Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments & Contingencies	Commitments & Contingencies Legal Matters As more fully discussed in the legal matter footnote of the Company's notes to the consolidated financial statements in its 2018 Annual Report on Form 10-K, a jury awarded damages against the Company in a litigated automotive product liability dispute. 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. Fire at S.P. Richards Headquarters and Distribution Center

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions The Company's acquisitions of businesses totaled $642,468 , net of cash acquired, during the nine months ended September 30, 2019 . The businesses acquired included Hennig Fahrzeugteile Group ("Hennig"), PartsPoint Group and several bolt-on acquisitions in the Automotive Parts Group and Axis New England, Axis New York and Inenco in the Industrial Parts Group. The Company acquired the remaining 65% equity investment in Inenco in July 2019. Inenco is one of Australasia's leading industrial distributors of key product categories such as bearings, power transmission and seals and it generates estimated annual revenues of approximately $400,000 . Prior to the 65% acquisition, the Company accounted for its 35% investment under the equity method of accounting. The acquisition-date fair value of the 35% investment was $123,385 and is included in the measurement of the consideration transferred. The difference between the acquisition-date fair value and the carrying amount of the equity method investment resulted in the recognition of a gain of $38,663 on the acquisition date. The acquisition-date fair value was determined using a market and income approach with the assistance of a third party valuation firm. The gain is included in the line item "other" within non-operating (income) expenses on the condensed consolidated statement of income and comprehensive income for the period ended September 30, 2019. The acquisition date fair value of the consideration transferred for the aggregate of the acquired businesses was approximately $765,853 , net of cash acquired of $12,149 , which consisted of the following: September 30, 2019 Cash $ 642,468 Fair value of 35% investment in Inenco held prior to business combination 123,385 Total $ 765,853 The following table summarizes the preliminary, estimated fair values of the assets acquired and liabilities assumed at the acquisition dates for the aggregate of these businesses. Additional adjustments may be made to the acquisition accounting during the measurement period primarily related to intangible asset revaluations and tax accounting. September 30, 2019 Trade accounts receivable $ 127,823 Merchandise inventories 281,764 Prepaid expenses and other current assets 11,066 Intangible assets 318,301 Deferred tax assets 1,046 Property and equipment 60,313 Operating lease assets 96,845 Other assets 40,840 Total identifiable assets acquired 937,998 Current liabilities 101,564 Long-term debt 150,879 Operating lease liabilities 96,371 Deferred tax liabilities 58,903 Other long-term liabilities 97,407 Total liabilities assumed 505,124 Net identifiable assets acquired 432,874 Goodwill 332,979 Net assets acquired $ 765,853 The acquired intangible assets of approximately $318,301 were provisionally assigned to customer relationships of $281,804 , trademarks of $34,207 , and other intangibles of $2,290 with weighted average amortization lives of 16.8 , 21.3 , and 5.0 years , respectively, for a total weighted average amortization life of 17.2 years . The fair value of the acquired identifiable intangible assets is provisional pending completion of the final valuations for these assets. The estimated goodwill recognized as part of the acquisitions is generally not tax deductible. $174,048 of goodwill has been assigned to the automotive segment and $158,931 has been assigned to the industrial segment. The goodwill is attributable primarily to the expected synergies and assembled workforces of the acquired businesses. Divestitures Grupo Auto Todo On March 7, 2019, the Company sold all of its equity in Grupo Auto Todo, a Mexican subsidiary within the Automotive Parts Group. Grupo Auto Todo contributed approximately $93,000 of revenues for the year ended December 31, 2018. Proceeds from the transaction of $12,028 are included in proceeds from divestitures on the condensed consolidated statement of cash flows for the nine months ended September 30, 2019. The Company incurred realized currency losses of $27,037 from this transaction during the nine months ended September 30, 2019 . These losses are included in the line item "other" within non-operating (income) expenses on the condensed consolidated statements of income and comprehensive income. EIS During the third quarter of 2019, the Company approved a transaction to sell EIS, a wholly owned subsidiary within the Industrial Parts Group. The transaction closed on September 30, 2019. EIS contributed approximately $817,249 of revenue for the year ended December 31, 2018 and $588,031 for the nine months ended September 30, 2019. Proceeds from the transaction of $365,876 are included in proceeds from divestitures on the condensed consolidated statement of cash flows for the nine months ended September 30, 2019. The Company incurred realized currency losses of $7,664 from this transaction, which are included in the line item "other" within non-operating (income) expenses on the condensed consolidated statement of income for the three and nine months ended September 30, 2019. This divestiture is not considered a strategic shift that will have a major effect on the Company’s operations or financial results; therefore, it is not reported as discontinued operations.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share As more fully discussed in the share-based compensation footnote of the Company’s notes to the consolidated financial statements in its 2018 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. Options to purchase approximately 544 and 223 shares of common stock were outstanding but excluded from the computations of diluted earnings per share for the three and nine month periods ended September 30, 2019 , respectively, as compared to approximately 643 and 1,495 for the three and nine month periods ended September 30, 2018 , respectively. These options were excluded from the computations of diluted net income per common share because the options’ exercise prices were greater than the average market price of the common stock.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2019
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 U.S. ("U.S. GAAP") 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,” "we," "our," "us," or "its") for the year ended December 31, 2018 . Accordingly, the unaudited interim condensed consolidated financial statements and related disclosures herein should be read in conjunction with the Company’s 2018 Annual Report on Form 10-K.
Use of Estimates	The preparation of interim financial statements requires management to make estimates and assumptions that affect the amounts reported in the interim 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. 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.
Recent Accounting Pronouncements	Changes to U.S. GAAP are established by the Financial Accounting Standards Board ("FASB") in the form of ASUs to the FASB Accounting Standards Codification ("ASC"). The Company considers the applicability and impact of all ASUs and any not listed below were assessed and determined to be not applicable or are expected to have a minimal impact on the Company's condensed consolidated financial statements. Leases (Topic 842) In February 2016, the FASB issued ASU 2016-02, Leases , which, among other things, requires an entity to recognize a right-of-use asset and a lease liability on the balance sheet for substantially all leases, including operating leases. Expanded disclosures with additional qualitative and quantitative information are also required. ASU 2016-02 and its amendments were effective for interim and annual reporting periods beginning after December 15, 2018 and early adoption was permitted. The ASU's transition provisions could be applied under a modified retrospective approach to each prior reporting period presented in the financial statements or only at the beginning of the period of adoption (i.e., on the effective date). The Company adopted ASU 2016-02 and its amendments and applied the transition provisions as of January 1, 2019, which included recognizing a cumulative-effect adjustment through opening retained earnings as of that date. Prior year amounts were not recast under this transition approach and, therefore, prior year amounts are excluded from the leased properties footnote. The Company elected the package of practical expedients permitted under the transition guidance, which allowed the Company to carryforward its historical assessments of: (1) whether contracts are or contain leases, (2) lease classification and (3) initial direct costs. In addition, the Company did not elect the hindsight practical expedient to determine the reasonably certain lease term for existing leases. The Company elected a policy of not recording leases on its condensed consolidated balance sheets when the leases have a term of 12 months or less and the Company is not reasonably certain to elect an option to purchase the leased asset. The Company recognizes payments on these leases within selling, administrative and other expenses on a straight-line basis over the lease term. The Company's adoption of the standard resulted in a cumulative-effect adjustment to retained earnings of $4,797 , net of taxes, as of January 1, 2019. The standard did not materially impact the Company's consolidated net income or liquidity. The standard did not have an impact on debt-covenant compliance under the Company's current debt agreements. Income Statement - Reporting Comprehensive Income (Topic 220) In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The ASU permits a company to make a one-time election to reclassify stranded tax effects caused by the Tax Cuts and Jobs Act from accumulated other comprehensive income to retained earnings. The ASU also requires companies to disclose their accounting policies for releasing income tax effects from accumulated other comprehensive income. ASU 2018-02 was effective for periods beginning after December 15, 2018, with an election to adopt early. The Company adopted ASU 2018-02 as of January 1, 2019 and recognized an adjustment to increase retained earnings and to adjust accumulated other comprehensive loss by approximately $122,526 . Financial Instruments - Credit Losses (Topic 220) In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments . Among other things, the ASU and its amendments replace the incurred loss impairment model for receivables and certain other financial instruments with a current expected credit loss model. The new model measures impairment based on expected credit losses over the remaining contractual life of an asset, considering available information about the collectability of cash flows, past events, current conditions, and reasonable and supportable forecasts. Additional quantitative and qualitative disclosures are required. ASU 2016-13 is effective for periods beginning after December 15, 2019, with an option to adopt early. The Company plans to adopt the ASU and its amendments on January 1, 2020, and any changes to allowances for credit losses caused by the adoption will be made through a cumulative effect adjustment to retained earnings as of that date. The adoption of ASU 2016-13 and its amendments is not expected to have a significant impact on the Company's consolidated financial statements. Compensation - Retirement Benefits (Topic 715) In August 2018, the FASB issued ASU 2018-14, Changes to the Disclosure Requirements for Defined Benefit Plans . The updated accounting guidance modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by removing, adding and clarifying certain disclosures. These provisions must be applied retrospectively. ASU 2018-14 is effective for periods beginning after December 15, 2020, with an option to adopt early. The adoption of ASU 2018-14 is not expected to have a significant impact on the Company’s financial position, results of operations or disclosures. The Company does not plan to early adopt the standard.
Guarantees	The Company guarantees the borrowings of certain independently controlled automotive parts stores and businesses (“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 that 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, 2019 , the Company was in compliance with all such covenants.
Fair Value of Financial 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.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 and term loan approximate their respective fair values based on the short-term nature of these instruments.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Summary of Segment Information	The following table presents a summary of the Company's reportable segment financial information: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net sales: Automotive $ 2,790,607 $ 2,649,716 $ 8,187,760 $ 7,950,176 Industrial 1,732,831 1,577,329 5,049,975 4,727,938 Business products 491,585 495,877 1,448,381 1,453,167 Total net sales $ 5,015,023 $ 4,722,922 $ 14,686,116 $ 14,131,281 Operating profit: Automotive $ 222,100 $ 226,742 $ 629,713 $ 655,059 Industrial 137,525 119,153 394,887 356,535 Business products 21,611 19,846 63,727 62,869 Total operating profit 381,236 365,741 1,088,327 1,074,463 Interest expense, net (24,770 ) (21,881 ) (70,313 ) (70,713 ) Intangible asset amortization (26,224 ) (23,593 ) (72,725 ) (66,802 ) Corporate expense (1) (25,709 ) (28,532 ) (127,115 ) (115,623 ) Income before income taxes $ 304,533 $ 291,735 $ 818,174 $ 821,325 (1) Includes $12,413 of income and $25,809 of expense for the three and nine months ended September 30, 2019 , respectively, in certain transaction and other costs related to acquisitions and dispositions. Also includes the realized currency losses incurred on the March 7, 2019 sale of Grupo Auto Todo and the September 30, 2019 sale of EIS Inc. ("EIS"), net of a gain from remeasuring the Company's preexisting 35% equity investment to fair value upon acquiring the remaining equity of Inenco on July 1, 2019. Refer to the acquisitions and divestitures footnote for further details. Includes $3,104 of income and $19,010 of expense for the three and nine months ended September 30, 2018 , respectively, in certain transaction and other costs related to the acquisition of Alliance Automotive Group ("AAG") and the attempted Business Products Group spin-off, net of a $12,000 termination fee received in the third quarter of 2018.
Revenue from External Customers by Geographic Areas	The following table presents disaggregated geographical net sales from contracts with customers by reportable segment: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 North America: Automotive $ 1,942,922 $ 1,918,814 $ 5,720,290 $ 5,646,108 Industrial 1,624,303 1,577,329 4,941,447 4,727,938 Business products 491,585 495,877 1,448,381 1,453,167 Total North America $ 4,058,810 $ 3,992,020 $ 12,110,118 $ 11,827,213 Australasia: Automotive 295,424 298,797 866,694 903,600 Industrial 108,528 — 108,528 — Total Australasia 403,952 298,797 975,222 903,600 Europe – Automotive 552,261 432,105 1,600,776 1,400,468 Total net sales $ 5,015,023 $ 4,722,922 $ 14,686,116 $ 14,131,281

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	The following tables present the changes in accumulated other comprehensive loss ("AOCL") by component for the nine months ended September 30 : Changes in Accumulated Other Pension and Other Post-Retirement Benefits Cash Flow and Net Investment Hedges Foreign Currency Translation Total Beginning balance, January 1, 2019 $ (626,322 ) $ 10,726 $ (499,482 ) $ (1,115,078 ) Other comprehensive loss before reclassifications — 54,180 (123,070 ) (68,890 ) Amounts reclassified from accumulated other comprehensive loss (1) 22,855 1,581 34,701 59,137 Income taxes (6,166 ) (15,057 ) — (21,223 ) Other comprehensive loss, net of income taxes 16,689 40,704 (88,369 ) (30,976 ) Cumulative effect from adoption of ASU 2018-02 (122,526 ) — — (122,526 ) Ending balance, September 30, 2019 $ (732,159 ) $ 51,430 $ (587,851 ) $ (1,268,580 ) (1) Amount includes realized currency losses of $34,701 that were reclassified out of foreign currency translation into earnings in connection with the March 7, 2019 sale of Grupo Auto Todo and the September 30, 2019 sale of EIS. Refer to the acquisitions and divestitures footnote for further details. Changes in Accumulated Other Pension and Other Post-Retirement Benefits Cash Flow and Net Investment Hedges Foreign Currency Translation Total Beginning balance, January 1, 2018 $ (568,957 ) $ (17,388 ) $ (266,247 ) $ (852,592 ) Other comprehensive loss before reclassifications — 22,124 (147,703 ) (125,579 ) Amounts reclassified from accumulated other comprehensive loss 29,071 886 — 29,957 Income taxes (7,850 ) (6,213 ) — (14,063 ) Other comprehensive loss, net of income taxes 21,221 16,797 (147,703 ) (109,685 ) Ending balance, September 30, 2018 $ (547,736 ) $ (591 ) $ (413,950 ) $ (962,277 )

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Income for the Pension Plans	Net periodic benefit income from the Company's pension plans included the following components for the three months ended September 30 : Pension Benefits 2019 2018 Service cost $ 2,395 $ 2,584 Interest cost 24,362 22,044 Expected return on plan assets (38,551 ) (38,470 ) Amortization of prior service credit (17 ) (37 ) Amortization of actuarial loss 7,752 9,920 Net periodic benefit income $ (4,059 ) $ (3,959 ) Net periodic benefit income from the Company's pension plans included the following components for the nine months ended September 30 : Pension Benefits 2019 2018 Service cost $ 7,164 $ 7,850 Interest cost 73,045 66,228 Expected return on plan assets (115,585 ) (115,574 ) Amortization of prior service credit (51 ) (111 ) Amortization of actuarial loss 23,247 29,814 Net periodic benefit income $ (12,180 ) $ (11,793 )

Derivatives and Hedging (Tables

Derivatives and Hedging (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table summarizes the location and carrying amounts of the derivative instruments and the foreign currency denominated debt, a non-derivative financial instrument, that are designated and qualify as part of hedging relationships: September 30, 2019 December 31, 2018 Instrument Balance sheet location Notional Balance Notional Balance Cash flow hedges: Interest rate swaps Other current liabilities $ 800,000 $ 29,832 $ 500,000 $ 6,345 Net investment hedges: Cross-currency swap Prepaid expenses and other current assets — — $ 500,000 $ 6,006 Forward contracts Prepaid expenses and other current assets $ 925,810 $ 55,050 — — Foreign currency debt Long-term debt € 700,000 $ 765,870 € 700,000 $ 801,010
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The table below presents gains and losses related to designated cash flow hedges and net investment hedges: Gain (Loss) Recognized in AOCL Before Reclassifications Gain Recognized in Interest Expense For Excluded Components 2019 2018 2019 2018 Three Months Ended September 30, Cash Flow Hedges: Interest rate contract $ (3,766 ) $ 1,079 $ — $ — Net Investment Hedges: Cross-currency swap $ — $ (6,536 ) $ — $ 3,256 Forward contracts 35,796 — 5,596 — Foreign currency debt 30,030 5,600 — — Total $ 62,060 $ 143 $ 5,596 $ 3,256 Nine Months Ended September 30, Cash Flow Hedges: Interest rate contract $ (25,332 ) $ 1,079 $ — $ — Net Investment Hedges: Cross-currency swap $ 2,936 $ (6,536 ) $ 2,294 $ 3,256 Forward contracts 41,436 — 12,220 — Foreign currency debt 35,140 27,581 — — Total $ 54,180 $ 22,124 $ 14,514 $ 3,256
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)	The table below presents gains and losses related to designated cash flow hedges and net investment hedges: Gain (Loss) Recognized in AOCL Before Reclassifications Gain Recognized in Interest Expense For Excluded Components 2019 2018 2019 2018 Three Months Ended September 30, Cash Flow Hedges: Interest rate contract $ (3,766 ) $ 1,079 $ — $ — Net Investment Hedges: Cross-currency swap $ — $ (6,536 ) $ — $ 3,256 Forward contracts 35,796 — 5,596 — Foreign currency debt 30,030 5,600 — — Total $ 62,060 $ 143 $ 5,596 $ 3,256 Nine Months Ended September 30, Cash Flow Hedges: Interest rate contract $ (25,332 ) $ 1,079 $ — $ — Net Investment Hedges: Cross-currency swap $ 2,936 $ (6,536 ) $ 2,294 $ 3,256 Forward contracts 41,436 — 12,220 — Foreign currency debt 35,140 27,581 — — Total $ 54,180 $ 22,124 $ 14,514 $ 3,256

Leased Properties (Tables)

Leased Properties (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lessee, Operating Leases, Assets and Liabilities	The table below presents the locations of the operating lease assets and liabilities on the condensed consolidated balance sheets as of September 30, 2019 : Balance Sheet Line Item September 30, 2019 Operating lease assets Operating lease assets $ 1,048,462 Operating lease liabilities: Current operating lease liabilities Other current liabilities $ 274,687 Noncurrent operating lease liabilities Operating lease liabilities 797,166 Total operating lease liabilities $ 1,071,853
Schedule of Components of Operating Leases	The Company's weighted average remaining lease term and weighted average discount rate for operating leases as of September 30, 2019 are: Weighted average remaining lease term (in years) 5.58 Weighted average discount rate 3.21 %
Lessee, Operating Lease, Liability, Maturity	The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under noncancelable operating leases with terms of more than one year to the total operating lease liabilities recognized on the condensed consolidated balance sheets as of September 30, 2019 : October 1, 2019 through December 31, 2019 $ 77,339 2020 296,219 2021 230,421 2022 173,932 2023 122,529 Thereafter 276,067 Total undiscounted future minimum lease payments 1,176,507 Less: Difference between undiscounted lease payments and discounted operating lease liabilities 104,654 Total operating lease liabilities $ 1,071,853

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Fair Values of Assets Acquired and Liabilities Assumed	The acquisition date fair value of the consideration transferred for the aggregate of the acquired businesses was approximately $765,853 , net of cash acquired of $12,149 , which consisted of the following: September 30, 2019 Cash $ 642,468 Fair value of 35% investment in Inenco held prior to business combination 123,385 Total $ 765,853 The following table summarizes the preliminary, estimated fair values of the assets acquired and liabilities assumed at the acquisition dates for the aggregate of these businesses. Additional adjustments may be made to the acquisition accounting during the measurement period primarily related to intangible asset revaluations and tax accounting. September 30, 2019 Trade accounts receivable $ 127,823 Merchandise inventories 281,764 Prepaid expenses and other current assets 11,066 Intangible assets 318,301 Deferred tax assets 1,046 Property and equipment 60,313 Operating lease assets 96,845 Other assets 40,840 Total identifiable assets acquired 937,998 Current liabilities 101,564 Long-term debt 150,879 Operating lease liabilities 96,371 Deferred tax liabilities 58,903 Other long-term liabilities 97,407 Total liabilities assumed 505,124 Net identifiable assets acquired 432,874 Goodwill 332,979 Net assets acquired $ 765,853

Segment Information - Operating

Segment Information - Operating Results by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019
Segment Reporting Information [Line Items]
Net sales	$ 5,015,023	$ 4,722,922	$ 14,686,116	$ 14,131,281
Income before income taxes	304,533	291,735	818,174	821,325
Gain (loss) on transaction and other related to acquisitions and dispositions	12,413		(25,809)
Transaction income (expense)		3,104		(19,010)
Inenco Group
Segment Reporting Information [Line Items]
Ownership percentage					35.00%
Business Products
Segment Reporting Information [Line Items]
Proceeds from termination fee		12,000
Operating Segments
Segment Reporting Information [Line Items]
Operating profit	381,236	365,741	1,088,327	1,074,463
Operating Segments | Automotive Parts
Segment Reporting Information [Line Items]
Net sales	2,790,607	2,649,716	8,187,760	7,950,176
Operating profit	222,100	226,742	629,713	655,059
Operating Segments | Industrial Parts
Segment Reporting Information [Line Items]
Net sales	1,732,831	1,577,329	5,049,975	4,727,938
Operating profit	137,525	119,153	394,887	356,535
Operating Segments | Business Products
Segment Reporting Information [Line Items]
Net sales	491,585	495,877	1,448,381	1,453,167
Operating profit	21,611	19,846	63,727	62,869
Other
Segment Reporting Information [Line Items]
Interest expense, net	(24,770)	(21,881)	(70,313)	(70,713)
Intangible asset amortization	(26,224)	(23,593)	(72,725)	(66,802)
Corporate expense	$ (25,709)	$ (28,532)	$ (127,115)	$ (115,623)

Segment Information - Disaggreg

Segment Information - Disaggregated Geographical Revenue by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 5,015,023	$ 4,722,922	$ 14,686,116	$ 14,131,281
North America
Disaggregation of Revenue [Line Items]
Net sales	4,058,810	3,992,020	12,110,118	11,827,213
Australasia
Disaggregation of Revenue [Line Items]
Net sales	403,952	298,797	975,222	903,600
Automotive Parts | North America
Disaggregation of Revenue [Line Items]
Net sales	1,942,922	1,918,814	5,720,290	5,646,108
Automotive Parts | Australasia
Disaggregation of Revenue [Line Items]
Net sales	295,424	298,797	866,694	903,600
Automotive Parts | Europe
Disaggregation of Revenue [Line Items]
Net sales	552,261	432,105	1,600,776	1,400,468
Industrial Parts | North America
Disaggregation of Revenue [Line Items]
Net sales	1,624,303	1,577,329	4,941,447	4,727,938
Industrial Parts | Australasia
Disaggregation of Revenue [Line Items]
Net sales	108,528	0	108,528	0
Business Products | North America
Disaggregation of Revenue [Line Items]
Net sales	$ 491,585	$ 495,877	$ 1,448,381	$ 1,453,167

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive (Loss) by Component (Details) - USD ($) $ in Thousands	Mar. 07, 2019	Sep. 30, 2019	Sep. 30, 2018	Jan. 01, 2019
AOCI Attributable to Parent [Roll Forward]
Beginning balance		$ 3,450,451
Other comprehensive loss before reclassifications		(68,890)	$ (125,579)
Amounts reclassified from accumulated other comprehensive loss		59,137	29,957
Income taxes		(21,223)	(14,063)
Other comprehensive loss, net of income taxes		(30,976)	(109,685)
Ending balance		3,642,191
Realized currency losses	$ 34,701
Pension and Other Post-Retirement Benefits
AOCI Attributable to Parent [Roll Forward]
Beginning balance		(626,322)	(568,957)
Other comprehensive loss before reclassifications		0	0
Amounts reclassified from accumulated other comprehensive loss		22,855	29,071
Income taxes		(6,166)	(7,850)
Other comprehensive loss, net of income taxes		16,689	21,221
Cumulative effect from adoption of ASU 2018-02				$ (122,526)
Ending balance		(732,159)	(547,736)
Net Investment Hedge
AOCI Attributable to Parent [Roll Forward]
Beginning balance		10,726	(17,388)
Other comprehensive loss before reclassifications		54,180	22,124
Amounts reclassified from accumulated other comprehensive loss		1,581	886
Income taxes		(15,057)	(6,213)
Other comprehensive loss, net of income taxes		40,704	16,797
Cumulative effect from adoption of ASU 2018-02				0
Ending balance		51,430	(591)
Foreign Currency Translation
AOCI Attributable to Parent [Roll Forward]
Beginning balance		(499,482)	(266,247)
Other comprehensive loss before reclassifications		(123,070)	(147,703)
Amounts reclassified from accumulated other comprehensive loss		34,701	0
Income taxes		0	0
Other comprehensive loss, net of income taxes		(88,369)	(147,703)
Cumulative effect from adoption of ASU 2018-02				0
Ending balance		(587,851)	(413,950)
Total
AOCI Attributable to Parent [Roll Forward]
Beginning balance		(1,115,078)	(852,592)
Cumulative effect from adoption of ASU 2018-02				$ (122,526)
Ending balance		$ (1,268,580)	$ (962,277)

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) $ in Thousands	Jan. 01, 2019USD ($)
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption of ASU	$ 4,797	[1]
Accounting Standards Update 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption of ASU	0	[1]
Retained Earnings | Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption of ASU	4,797	[1]
Retained Earnings | Accounting Standards Update 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption of ASU	122,526	[1]
Accumulated Other Comprehensive Loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption of ASU	(122,526)
Accumulated Other Comprehensive Loss | Accounting Standards Update 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption of ASU	$ (122,526)	[1]
[1]	The Company adopted Accounting Standards Update ("ASU") 2016-02, Leases, and ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, during the first quarter of 2019. Refer to the recent accounting pronouncements footnote for further details.

Employee Benefit Plans - Compo

Employee Benefit Plans - Components of Net Periodic Benefit Income for the Pension Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Retirement Benefits [Abstract]
Service cost	$ 2,395	$ 2,584	$ 7,164	$ 7,850
Interest cost	24,362	22,044	73,045	66,228
Expected return on plan assets	(38,551)	(38,470)	(115,585)	(115,574)
Amortization of prior service credit	(17)	(37)	(51)	(111)
Amortization of actuarial loss	7,752	9,920	23,247	29,814
Net periodic benefit income	$ (4,059)	$ (3,959)	$ (12,180)	$ (11,793)

Guarantees (Details)

Guarantees (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Guarantor Obligations [Line Items]
Total borrowings of the independents and affiliates subject to guarantee	$ 864,398
Guarantees related to borrowings, other assets	87,000
Guarantor obligation, current carrying value	$ 87,000
Minimum
Guarantor Obligations [Line Items]
Guaranteed obligations maturity (in years)	1 year
Maximum
Guarantor Obligations [Line Items]
Guaranteed obligations maturity (in years)	6 years

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) $ in Thousands	Sep. 30, 2019USD ($)
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of fixed rate debt	$ 1,913,359
Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of fixed rate debt	$ 2,017,415

Credit Facilities (Details)

Credit Facilities (Details) - Senior Notes	Jun. 30, 2019AUD ($)	May 31, 2019EUR (€)
Debt Instrument [Line Items]
Debt instrument, face amount	$ 310,000,000	€ 250,000,000
Series A Guaranteed Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 155,000,000	€ 50,000,000
Interest rate, stated percentage	3.10%	1.55%
Series B Guaranteed Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 155,000,000	€ 100,000,000
Interest rate, stated percentage	3.43%	1.74%
Series C Guaranteed Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		€ 100,000
Interest rate, stated percentage		1.95%

Derivatives and Hedging - Sched

Derivatives and Hedging - Schedule of Location and Fair Value Amounts of Derivative Instruments (Details) - Designated as hedging relationship € in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019EUR (€)	Dec. 31, 2018EUR (€)	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Cash flow hedges | Other current liabilities | Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional			$ 800,000	$ 500,000
Balance			29,832	6,345
Net investment hedges | Prepaid expenses and other current assets | Cross-currency swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional			0	500,000
Balance			0	6,006
Net investment hedges | Prepaid expenses and other current assets | Forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional			925,810	0
Balance			55,050	0
Net investment hedges | Long-term debt | Foreign currency debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional | €	€ 700,000	€ 700,000
Balance			$ 765,870	$ 801,010

Derivatives and Hedging - Sch_2

Derivatives and Hedging - Schedule of Gains (Losses) Related to Designated Cash Flow Hedges and Net Investment Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCL Before Reclassifications	$ 62,060	$ 143	$ 54,180	$ 22,124
Gain Recognized in Interest Expense For Excluded Components	5,596	3,256	14,514	3,256
Cash flow hedges | Interest rate contract
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCL Before Reclassifications	(3,766)	1,079	(25,332)	1,079
Net investment hedges | Cross-currency swap
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCL Before Reclassifications	0	(6,536)	2,936	(6,536)
Gain Recognized in Interest Expense For Excluded Components	0	3,256	2,294	3,256
Net investment hedges | Forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCL Before Reclassifications	35,796	0	41,436	0
Gain Recognized in Interest Expense For Excluded Components	5,596	0	12,220	0
Net investment hedges | Foreign currency debt
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCL Before Reclassifications	$ 30,030	$ 5,600	$ 35,140	$ 27,581

Leased Properties - Additional

Leased Properties - Additional Information (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)
Lessee, Lease, Description [Line Items]
Option to extend, amount	$ 53,104	$ 53,104
Operating lease costs	$ 86,704	244,090
Operating lease, payments		234,860
Asset obtained in exchange		$ 277,900
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	1 year	1 year
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	20 years	20 years

Leased Properties - Operating L

Leased Properties - Operating Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease assets	$ 1,048,462	$ 0
Current operating lease liabilities	274,687
Noncurrent operating lease liabilities	797,166	$ 0
Total operating lease liabilities	$ 1,071,853

Leased Properties - Components

Leased Properties - Components of Operating Leases (Details)	Sep. 30, 2019
Leases [Abstract]
Weighted average remaining lease term (in years)	5 years 6 months 29 days
Weighted average discount rate	3.21%

Leased Properties - Future Leas

Leased Properties - Future Lease Payments (Details) $ in Thousands	Sep. 30, 2019USD ($)
Leases [Abstract]
October 1, 2019 through December 31, 2019	$ 77,339
2020	296,219
2021	230,421
2022	173,932
2023	122,529
Thereafter	276,067
Total undiscounted future minimum lease payments	1,176,507
Less: Difference between undiscounted lease payments and discounted operating lease liabilities	104,654
Total operating lease liabilities	$ 1,071,853

Acquisitions and Divestitures -

Acquisitions and Divestitures - Additional Information (Details) - USD ($) $ in Thousands	Mar. 07, 2019	Jul. 31, 2019	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Jun. 30, 2019
Business Acquisition [Line Items]
Payments to acquire businesses, net				$ 642,468
Goodwill			$ 2,278,066	2,278,066		$ 2,128,776
Proceeds from divestitures of businesses				416,784	$ 0
Grupo Auto Todo
Business Acquisition [Line Items]
Revenue of disposed entity						93,000
Realized currency losses				27,037
Proceeds from divestitures of businesses	$ 12,028
EIS, Inc.
Business Acquisition [Line Items]
Revenue of disposed entity				588,031		$ 817,249
Realized currency losses			7,664	7,664
Proceeds from divestitures of businesses				365,876
Inenco Group
Business Acquisition [Line Items]
Ownership percentage							35.00%
Inenco Group
Business Acquisition [Line Items]
Percentage of voting interests acquired		65.00%
Estimated annual revenues of acquiree		$ 400,000
Fair value of 35% investment in Inenco held prior to business combination		123,385
Remeasurement gain		38,663
Consideration transferred		765,853
Cash acquired from acquisition		12,149
Intangible assets			318,301	318,301
Goodwill			$ 332,979	$ 332,979
Inenco Group | Automotive Parts
Business Acquisition [Line Items]
Goodwill		174,048
Inenco Group | Industrial Parts
Business Acquisition [Line Items]
Goodwill		$ 158,931
Inenco Group | Weighted Average
Business Acquisition [Line Items]
Useful life		17 years 2 months 12 days
Inenco Group | Customer Relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired		$ 281,804
Useful life		16 years 9 months 18 days
Inenco Group | Trademarks
Business Acquisition [Line Items]
Finite-lived intangible assets acquired		$ 34,207
Useful life		21 years 3 months 18 days
Inenco Group | Other Intangible Assets
Business Acquisition [Line Items]
Finite-lived intangible assets acquired		$ 2,290
Useful life		5 years

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Acquisition Date Fair Value of the Consideration Transferred (Details) - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2019	Jun. 30, 2019
Inenco Group
Business Acquisition [Line Items]
Ownership percentage		35.00%
Inenco Group
Business Acquisition [Line Items]
Cash	$ 642,468
Fair value of 35% investment in Inenco held prior to business combination	123,385
Total	$ 765,853

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 2,278,066	$ 2,128,776
Inenco Group
Business Acquisition [Line Items]
Trade accounts receivable	127,823
Merchandise inventories	281,764
Prepaid expenses and other current assets	11,066
Intangible assets	318,301
Deferred tax assets	1,046
Property and equipment	60,313
Operating lease assets	96,845
Other assets	40,840
Total identifiable assets acquired	937,998
Current liabilities	101,564
Long-term debt	150,879
Operating lease liabilities	96,371
Deferred tax liabilities	58,903
Other long-term liabilities	97,407
Total liabilities assumed	505,124
Net identifiable assets acquired	432,874
Goodwill	332,979
Net assets acquired	$ 765,853

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	544	643	223	1,495

Uncategorized Items - gpc093020

Label	Element	Value
Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (5,843,000)
Accounting Standards Update 2014-09 [Member] | Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(5,843,000)
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(5,843,000)
Accounting Standards Update 2016-02 [Member] | Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 4,797,000	[1]
[1]	The Company adopted Accounting Standards Update ("ASU") 2016-02, Leases, and ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, during the first quarter of 2019. Refer to the recent accounting pronouncements footnote for further details.