Genuine Parts (GPC) 10-Q 30 Jul 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2020shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
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	144,264,189
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000040987
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 983,759	$ 276,992
Trade accounts receivable, less allowance for doubtful accounts (2020 – $42,139; 2019 – $35,047)	1,823,357	2,440,252
Merchandise inventories, net	3,351,751	3,443,876
Prepaid expenses and other current assets	1,132,461	1,063,245
Current assets of discontinued operations	0	714,251
Total current assets	7,291,328	7,938,616
Goodwill	1,771,835	2,293,519
Other intangible assets, less accumulated amortization	1,422,680	1,492,097
Deferred tax assets	76,154	45,921
Property, plant and equipment, less accumulated depreciation (2020 – $1,275,388; 2019 – $1,199,285)	1,133,990	1,173,688
Operating lease assets	997,146	995,667
Other assets	570,829	457,350
Noncurrent assets of discontinued operations	0	248,771
Total assets	13,263,962	14,645,629
Current liabilities:
Trade accounts payable	3,745,031	3,948,000
Current portion of debt	489,028	624,060
Dividends payable	113,968	110,851
Other current liabilities	1,620,703	1,493,092
Current liabilities of discontinued operations	0	218,117
Total current liabilities	5,968,730	6,394,120
Long-term debt	2,727,929	2,802,056
Operating lease liabilities	756,346	756,519
Pension and other post–retirement benefit liabilities	249,649	249,832
Deferred tax liabilities	210,003	233,044
Other long-term liabilities	480,417	445,652
Noncurrent liabilities of discontinued operations	0	68,906
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 – 2020 – 144,264,189 shares; 2019 – 145,378,158 shares	144,264	145,378
Additional paid-in capital	107,819	98,777
Retained earnings	3,809,564	4,571,860
Accumulated other comprehensive loss	(1,212,372)	(1,141,308)
Total parent equity	2,849,275	3,674,707
Noncontrolling interests in subsidiaries	21,613	20,793
Total equity	2,870,888	3,695,500
Total liabilities and equity	$ 13,263,962	$ 14,645,629

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 42,139	$ 35,047
Accumulated depreciation	$ 1,275,388	$ 1,199,285
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)	144,264,189	145,378,158
Common stock, shares outstanding (in shares)	144,264,189	145,378,158

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net sales	$ 3,823,227	$ 4,457,931	$ 7,915,753	$ 8,717,060
Cost of goods sold	2,532,740	2,975,227	5,237,088	5,841,558
Gross profit	1,290,487	1,482,704	2,678,665	2,875,502
Operating expenses:
Selling, administrative and other expenses	971,589	1,127,296	2,114,286	2,238,715
Depreciation and amortization	66,733	62,684	133,987	121,301
Provision for doubtful accounts	11,300	5,513	17,819	9,238
Restructuring costs	25,059	0	28,041	0
Goodwill impairment charge	506,721	0	506,721	0
Total operating expenses	1,581,402	1,195,493	2,800,854	2,369,254
Non-operating (income) expenses:
Interest expense	25,465	23,262	46,430	47,116
Other	(11,944)	(18,250)	(24,776)	(15,082)
Total non-operating (income) expenses	13,521	5,012	21,654	32,034
(Loss) income before income taxes	(304,436)	282,199	(143,843)	474,214
Income taxes	59,065	72,680	97,312	119,011
Net (loss) income from continuing operations	(363,501)	209,519	(241,155)	355,203
Net (loss) income from discontinued operations	(200,871)	14,911	(186,682)	29,477
Net (loss) income	$ (564,372)	$ 224,430	$ (427,837)	$ 384,680
Dividends declared per common share (usd per share)	$ 0.7900	$ 0.7625	$ 1.5800	$ 1.5250
Basic (loss) earnings per share from continuing operations (in dollars per share)	(2.52)	1.43	(1.67)	2.43
Diluted (loss) earnings per share from continuing operations (in dollars per share)	$ (2.52)	$ 1.43	$ (1.67)	$ 2.42
Weighted average common shares outstanding (in shares)	144,262	146,075	144,657	146,029
Dilutive effect of stock options and non-vested restricted stock awards (in shares)	0	661	0	684
Weighted average common shares outstanding - assuming dilution (in shares)	144,262	146,736	144,657	146,713

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (564,372)	$ 224,430	$ (427,837)	$ 384,680
Foreign currency translation adjustments, net of income taxes in 2020 — $12,114 and $3,445; 2019 — $4,015 and $3,695, respectively	111,599	9	(71,014)	47,973
Cash flow hedge adjustments, net of income taxes in 2020 — $560 and $6,044; 2019 — $3,711 and $5,626, respectively	1,514	(10,034)	(16,342)	(15,213)
Pension and postretirement benefit adjustments, net of income taxes in 2020 — $3,008 and $6,025; 2019 — $1,786 and $3,574, respectively	7,844	4,833	16,292	9,665
Other comprehensive income (loss), net of income taxes	120,957	(5,192)	(71,064)	42,425
Comprehensive (loss) income	$ (443,415)	$ 219,238	$ (498,901)	$ 427,105

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax	$ 12,114	$ 3,445	$ 4,015	$ 3,695
Net investment hedge, tax	560	6,044	3,711	5,626
Pension and postretirement benefit adjustments, tax	$ 3,008	$ 6,025	$ 1,786	$ 3,574

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands		Total	Cumulative Effect, Period of Adoption, Adjustment		Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossCumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment		Total Parent Equity	Total Parent EquityCumulative Effect, Period of Adoption, Adjustment		Non-controlling Interests in Subsidiaries
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
Beginning balance (Accounting Standards Update 2018-02) at Dec. 31, 2018	[1]		$ 0					$ (122,526)		$ 122,526
Beginning balance (Accounting Standards Update 2016-02) at Dec. 31, 2018	[1]		4,797							4,797			$ 4,797
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		384,680							384,680			384,680
Other comprehensive loss, net of tax		42,425					42,425					42,425
Cash dividends declared		(222,735)							(222,735)			(222,735)
Share-based awards exercised, including tax benefit (in shares)					141,756
Share-based awards exercised, including tax benefit		(7,371)			$ 141	(7,512)						(7,371)
Share-based compensation		13,081				13,081						13,081
Noncontrolling interest activities		1,107													1,107
Ending balance (in shares) at Jun. 30, 2019					146,078,369
Ending balance at Jun. 30, 2019		3,687,975			$ 146,078	83,949	(1,195,179)		4,630,480			3,665,328			22,647
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
Beginning balance (Accounting Standards Update 2018-02) at Dec. 31, 2018	[1]		0					$ (122,526)		122,526
Beginning balance (Accounting Standards Update 2016-02) at Dec. 31, 2018	[1]		4,797							4,797			4,797
Ending balance (in shares) at Dec. 31, 2019					145,378,158
Ending balance at Dec. 31, 2019		$ 3,695,500	(11,432)	[2]	$ 145,378	98,777	(1,141,308)		4,571,860	(11,432)	[2]	3,674,707	(11,432)	[2]	20,793
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member
Beginning balance (in shares) at Mar. 31, 2019					146,063,911
Beginning balance at Mar. 31, 2019		$ 3,572,832			$ 146,064	77,424	(1,189,987)		4,517,430			3,550,931			21,901
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		224,430							224,430			224,430
Other comprehensive loss, net of tax		(5,192)					(5,192)					(5,192)
Cash dividends declared		(111,380)							(111,380)			(111,380)
Share-based awards exercised, including tax benefit (in shares)					14,458
Share-based awards exercised, including tax benefit		(532)			$ 14	(546)						(532)
Share-based compensation		7,071				7,071						7,071
Noncontrolling interest activities		746													746
Ending balance (in shares) at Jun. 30, 2019					146,078,369
Ending balance at Jun. 30, 2019		3,687,975			$ 146,078	83,949	(1,195,179)		4,630,480			3,665,328			22,647
Beginning balance (in shares) at Dec. 31, 2019					145,378,158
Beginning balance at Dec. 31, 2019		3,695,500	$ (11,432)	[2]	$ 145,378	98,777	(1,141,308)		4,571,860	$ (11,432)	[2]	3,674,707	$ (11,432)	[2]	20,793
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		(427,837)							(427,837)			(427,837)
Other comprehensive loss, net of tax		(71,064)					(71,064)					(71,064)
Cash dividends declared		(228,444)							(228,444)			(228,444)
Share-based awards exercised, including tax benefit (in shares)					22,475
Share-based awards exercised, including tax benefit		(790)			$ 22	(812)						(790)
Share-based compensation		9,854				9,854						9,854
Purchase of stock (in shares)					(1,136,444)
Purchase of stock		(95,719)			$ (1,136)				(94,583)			(95,719)
Noncontrolling interest activities		820													820
Ending balance (in shares) at Jun. 30, 2020					144,264,189
Ending balance at Jun. 30, 2020		2,870,888			$ 144,264	107,819	(1,212,372)		3,809,564			2,849,275			21,613
Beginning balance (in shares) at Mar. 31, 2020					144,249,343
Beginning balance at Mar. 31, 2020		3,423,031			$ 144,249	103,878	(1,333,329)		4,487,904			3,402,702			20,329
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		(564,372)							(564,372)			(564,372)
Other comprehensive loss, net of tax		120,957					120,957					120,957
Cash dividends declared		(113,968)							(113,968)			(113,968)
Share-based awards exercised, including tax benefit (in shares)					14,846
Share-based awards exercised, including tax benefit		(449)			$ 15	(464)						(449)
Share-based compensation		4,405				4,405						4,405
Noncontrolling interest activities		1,284													1,284
Ending balance (in shares) at Jun. 30, 2020					144,264,189
Ending balance at Jun. 30, 2020		$ 2,870,888			$ 144,264	$ 107,819	$ (1,212,372)		$ 3,809,564			$ 2,849,275			$ 21,613
[1]
[2]	The Company adopted Accounting Standards Update (“ASU”) 2016-13, Measurement of Credit Losses on Financial Instruments, during the first quarter of 2020. Refer to the recent accounting pronouncements footnote. (2) The Company adopted ASU 2016-02, Leases, and ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share (usd per share)	$ 0.7900	$ 0.7625	$ 1.5800	$ 1.5250
Share-based awards exercised, tax	$ 383	$ 174	$ (162)	$ 3,986

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities:
Net (loss) income	$ (427,837)	$ 384,680
Net (loss) income from discontinued operations	(186,682)	29,477
Net (loss) income from continuing operations	(241,155)	355,203
Adjustments to reconcile net (loss) income from continuing operations to net cash provided by operating activities:
Depreciation and amortization	133,987	121,301
Share-based compensation	9,854	11,407
Excess tax benefits from share-based compensation	162	(3,986)
Realized currency losses	11,356	27,037
Goodwill impairment charge	506,721	0
Changes in operating assets and liabilities	499,795	(262,997)
Net cash provided by operating activities from continuing operations	920,720	247,965
Investing activities:
Purchases of property, plant and equipment	(74,358)	(102,180)
Proceeds from sale of property, plant and equipment	6,838	8,888
Proceeds from divestitures of businesses	382,737	12,028
Acquisitions of businesses and other investing activities	(15,393)	(378,237)
Net cash provided by (used in) investing activities from continuing operations	299,824	(459,501)
Financing activities:
Proceeds from debt	1,885,109	2,973,236
Payments on debt	(2,082,271)	(2,359,975)
Share-based awards exercised	(790)	(7,371)
Dividends paid	(225,327)	(216,724)
Purchases of stock	(95,719)	0
Other financing activities	(8,357)	0
Net cash (used in) provided by financing activities from continuing operations	(527,355)	389,166
Cash flows from discontinued operations:
Net cash provided by operating activities from discontinued operations	31,668	53,410
Net cash used in investing activities from discontinued operations	(11,131)	(4,497)
Net cash provided by financing activities from discontinued operations	0	0
Net cash provided by discontinued operations	20,537	48,913
Effect of exchange rate changes on cash and cash equivalents	(6,959)	2,461
Net increase in cash and cash equivalents	706,767	229,004
Cash and cash equivalents at beginning of period	276,992	333,547
Cash and cash equivalents at end of period	$ 983,759	$ 562,551

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
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. During the six months ended June 30, 2020, the Company completed the divestiture of its Business Products Group. Refer to the acquisitions, divestitures and discontinued operations footnote for more information. The Company's results of operations for the Business Products Group are reported as discontinued operations and all information related to the discontinued operations has been excluded from the notes to the condensed consolidated financial statements for all periods presented. Net (loss) income from discontinued operations for each period includes all costs that are directly attributable to these businesses and excludes certain corporate overhead costs that were previously allocated. Additionally, certain intercompany sales from the Automotive Parts Group are grossed up and recast in continuing operations in each period because those sales will continue with the discontinued operations after the divestiture. Except as disclosed herein, there have been no material changes 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, 2019. Accordingly, the unaudited interim condensed consolidated financial statements and related disclosures herein should be read in conjunction with the Company’s 2019 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, credit losses on guaranteed loans, 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, credit losses on guaranteed loans and customer sales returns are estimated and accrued on an interim basis based on a consideration of historical experience, current conditions, and reasonable and supportable forecasts. Volume incentives are estimated based upon cumulative and projected purchasing levels. 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 Company has reclassified certain prior period amounts to conform to the current period presentation. The results of operations for the six months ended June 30, 2020 are not necessarily indicative of results for the entire year. The Company's operations are concentrated in North America, Europe and Australasia and are vulnerable to the reduced economic activity caused by the COVID-19 outbreak, which was declared a pandemic in March 2020 and led many governments to put in place temporary social distancing and shelter-in-place mandates. In May and early June, many governments began phased reopenings of their economies. These phased approaches promote economic activity while adhering to new guidelines and enhanced safety measures. The extent to which the COVID-19 pandemic impacts the Company will depend on numerous factors and future developments that the Company cannot predict, including the severity of the virus; the occurrence of a “second wave” or additional spikes; the duration of the outbreak; governmental, business or other actions taken in response to the pandemic; and impacts on the Company's supply chain, its ability to keep operating locations open, and on customer demand. The Company's foreign subsidiaries are benefiting from various forms of government economic assistance including certain temporary subsidies that were received in the second quarter of 2020, which have been classified as a reduction of selling, administrative and other expenses. If the pandemic persists or worsens, the estimates and assumptions management made as of June 30, 2020 could change in subsequent interim reports and upon final determination at year-end, and it is reasonably possible such changes could be significant. The Company has evaluated subsequent events through the date the condensed consolidated financial statements covered by this quarterly report were issued. The Company will continue to evaluate the nature and extent of these potential impacts to its business and consolidated financial statements.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information The following table presents a summary of the Company's reportable segment financial information from continuing operations: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net sales: Automotive $ 2,495,799 $ 2,776,210 $ 5,078,484 $ 5,399,916 Industrial 1,327,428 1,681,721 2,837,269 3,317,144 Total net sales $ 3,823,227 $ 4,457,931 $ 7,915,753 $ 8,717,060 Segment profit: Automotive $ 218,906 $ 228,736 $ 361,484 $ 408,304 Industrial 108,928 136,334 222,861 257,362 Total segment profit $ 327,834 $ 365,070 $ 584,345 $ 665,666 Interest expense, net (24,876) (22,586) (44,744) (45,603) Intangible asset amortization (23,256) (22,604) (45,996) (43,875) Corporate expense (28,613) (33,573) (83,674) (64,752) Other unallocated costs (1) (555,525) (4,108) (553,774) (37,222) (Loss) income before income taxes from continuing operations $ (304,436) $ 282,199 $ (143,843) $ 474,214 (1) The following table presents a summary of the other unallocated costs: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Other unallocated costs: Goodwill impairment charge (2) $ (506,721) $ — $ (506,721) $ — Restructuring costs (3) (25,059) — (28,041) — Realized currency loss (4) (11,356) — (11,356) (27,037) Gain on insurance proceeds related to SPR Fire (5) 1,166 — 13,448 — Transaction and other costs (6) (13,555) (4,108) (21,104) (10,185) Total other unallocated costs $ (555,525) $ (4,108) $ (553,774) $ (37,222) (2) Adjustment reflects the second quarter goodwill impairment charge related to the Company's European reporting unit. Refer to the goodwill and other intangible assets footnote. (3) Adjustment reflects restructuring costs related to the ongoing execution of the 2019 Cost Savings Plan announced in the fourth quarter of 2019. The costs are primarily associated with severance and other employee costs, including a voluntary retirement program, and facility and closure costs related to the consolidation of operations. Refer to the restructuring footnote. (4) Adjustment reflects realized currency losses related to divestitures. Refer to the acquisitions, divestitures and discontinued operations footnote. (5) Adjustment reflects insurance recoveries in excess of losses incurred on inventory, property, plant and equipment and other fire-related costs related to the S.P. Richards Headquarters and Distribution Center. Refer to the commitments and contingencies footnote. (6) Adjustment reflects (i) $2,481 and $8,490 of incremental costs associated with COVID-19 for the three and six months ended June 30, 2020, respectively, and (ii) costs associated with certain divestitures. COVID-19 related costs include incremental costs incurred relating to fees to cancel marketing events and increased cleaning and sanitization materials, among other things. 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 June 30, Six Months Ended June 30, 2020 2019 2020 2019 North America: Automotive $ 1,715,567 $ 1,964,985 $ 3,447,063 $ 3,780,131 Industrial 1,231,208 1,681,721 2,641,923 3,317,144 Total North America $ 2,946,775 $ 3,646,706 $ 6,088,986 $ 7,097,275 Australasia: Automotive $ 282,797 $ 286,717 $ 555,721 $ 571,270 Industrial 96,220 — 195,346 — Total Australasia $ 379,017 $ 286,717 $ 751,067 $ 571,270 Europe – Automotive $ 497,435 $ 524,508 $ 1,075,700 $ 1,048,515 Total net sales $ 3,823,227 $ 4,457,931 $ 7,915,753 $ 8,717,060

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2020
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 six months ended June 30: Changes in Accumulated Other Pension and Other Post-Retirement Benefits Cash Flow Hedges Foreign Currency Translation Total Beginning balance, January 1, 2020 $ (704,415) $ (20,671) $ (416,222) $ (1,141,308) Other comprehensive loss before reclassifications — (21,046) (82,370) (103,416) Amounts reclassified from accumulated other comprehensive loss 16,292 4,704 11,356 32,352 Other comprehensive income (loss), net of income taxes 16,292 (16,342) (71,014) (71,064) Ending balance, June 30, 2020 $ (688,123) $ (37,013) $ (487,236) $ (1,212,372) Changes in Accumulated Other Pension and Other Post-Retirement Benefits Cash Flow Hedges Foreign Currency Translation Total Beginning balance, January 1, 2019 $ (626,322) $ (4,631) $ (484,125) $ (1,115,078) Other comprehensive income (loss) before reclassifications — (10,827) 20,936 10,109 Amounts reclassified from accumulated other comprehensive loss (1) 9,665 (4,386) 27,037 32,316 Other comprehensive income (loss), net of income taxes 9,665 (15,213) 47,973 42,425 Cumulative effect from adoption of ASU 2018-02 (122,526) — — (122,526) Ending balance, June 30, 2019 $ (739,183) $ (19,844) $ (436,152) $ (1,195,179) (1) Amount includes realized currency losses of $27,037 that were reclassified out of foreign currency translation into earnings in connection with the March 7, 2019 sale of Grupo Auto Todo. Refer to the acquisitions, divestitures and discontinued operations footnote for further details. The AOCL 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 hedges are discussed in the derivatives and hedging footnote. Generally, tax effects in AOCL are established at the currently enacted tax rate and reclassified to net (loss) income in the same period that the related pre-tax AOCL reclassifications are recognized.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2020
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. Financial Instruments - Credit Losses (Topic 326) 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 loan guarantees 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. The Company adopted ASU 2016-13 and its amendments as of January 1, 2020, which included recognizing a cumulative-effect adjustment to reduce opening retained earnings by $11,432, net of taxes. 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	6 Months Ended
	Jun. 30, 2020
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 June 30: Pension Benefits 2020 2019 Service cost $ 2,925 $ 2,379 Interest cost 20,865 24,335 Expected return on plan assets (38,410) (38,507) Amortization of prior service credit 173 (17) Amortization of actuarial loss 11,088 7,746 Net periodic benefit income $ (3,359) $ (4,064) Net periodic benefit income from the Company's pension plans included the following components for the six months ended June 30: Pension Benefits 2020 2019 Service cost $ 5,907 $ 4,769 Interest cost 41,790 48,683 Expected return on plan assets (76,933) (77,034) Amortization of prior service credit 346 (34) Amortization of actuarial loss 22,210 15,495 Net periodic benefit income $ (6,680) $ (8,121)

Guarantees

Guarantees	6 Months Ended
	Jun. 30, 2020
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 debt to earnings before interest, taxes, depreciation and amortization (“EBITDA”) ratio and certain limitations on additional borrowings. At June 30, 2020, the Company was in compliance with all such covenants. As of June 30, 2020, the total borrowings of the independents and affiliates subject to guarantee by the Company were approximately $925,109. These loans generally mature over periods from one As of June 30, 2020, the Company has recognized certain assets and liabilities amounting to $90,000 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. The liabilities relate to the Company's noncontingent obligation to stand ready to perform under the guarantee programs and they are distinct from the Company's current expected credit loss reserve.

Credit Facilities

Credit Facilities	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Credit Facilities	Credit Facilities On May 1, 2020, the Company entered into amendments to: (i) the Amended and Restated Syndicated Credit Facility Agreement, dated as of October 30, 2017 ("Credit Facility") and (ii) the Notes Purchase Agreement with certain investors governing the Series I, J, K, L and M senior notes, dated as of October 30, 2017 ("Notes Agreement"). The financial covenants in these agreements were amended to provide for the debt to EBITDA ratio to increase from 3.50 to 1.0 to 4.00 to 1.0 through December 31, 2020 (and then to revert to 3.50 to 1.0 after such date). With respect to the Credit Facility, the interest rates were amended to increase the applicable rate by 75 basis points (resulting in a rate of LIBOR + 225 basis points) and the LIBOR floor from 0.0% to 1.0%. With respect to the Notes Agreement, the interest rates were amended to increase the coupon applicable to each series of the Senior Notes by 50 basis points, effective immediately and applicable through December 31, 2020, and to increase the coupon applicable to each series of the Senior Notes by an additional 50 basis points, if and only if the debt to EBITDA ratio exceeds 3.50 to 1.0.

Accounts Receivable Sales Agree

Accounts Receivable Sales Agreement	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Accounts Receivable Sales Agreement	Accounts Receivable Sales Agreement On May 29, 2020 the Company entered into an agreement (the “A/R Sales Agreement”) to sell short-term receivables from certain customer trade accounts to an unaffiliated financial institution. The A/R Sales Agreement has a 364 day term, which the Company intends to renew each year. The terms of the A/R Sales Agreement limit the total principal amount outstanding of receivables sold to approximately $500,000 at any point in time. As part of the A/R Sales Agreement, the Company continuously sells designated pools of trade accounts receivable to a separate bankruptcy-remote special purpose entity whose assets would be first available to satisfy the creditor claims of the unaffiliated financial institution. The Company controls and therefore consolidates the special purpose entity in its condensed consolidated financial statements. The special purpose entity in turn sells certain of the receivables to the unaffiliated financial institution on a monthly basis. These sales to the unaffiliated financial institution are accounted for as sales because control over the receivables is transferred to the unaffiliated financial institution under the terms of the agreement. The following table represents a summary of the activity under the A/R Sales Agreement since its inception: June 30, 2020 Receivables sold to the financial institution and derecognized $ 902,326 Cash collected on sold receivables $ 402,302 Receivables pledged as collateral on sold receivables as of period-end $ 342,636

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial InstrumentsThe 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 June 30, 2020, the carrying amount, net of debt issuance costs, and the fair value of fixed rate debt were approximately $1,939,978 and $1,845,693, 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 $1,939,978 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.

Derivatives and Hedging

Derivatives and Hedging	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Derivatives and HedgingThe 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: June 30, 2020 December 31, 2019 Instrument Balance Sheet Location Notional Balance Notional Balance Cash flow hedges: Interest rate swaps Other current liabilities $ 800,000 $ 358 $ 800,000 $ 24,792 Net investment hedges: Forward contracts Prepaid expenses and other current assets $ 1,160,990 $ 76,169 $ 925,810 $ 39,965 Foreign currency debt Long-term debt € 700,000 $ 786,940 € 700,000 $ 784,000 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. On May 1, 2020, the Company dedesignated its interest rate swaps and modified them to match the terms of its modified debt agreement and as a result the $48,492 payable as of that date was deemed a financing transaction. Subsequent cash flows to pay this amount over the remaining term of the agreement are reflected within financing activities in the condensed consolidated statement of cash flows. This payable is classified within other current liabilities on the condensed consolidated balance sheets. The corresponding amount in AOCL is being amortized to interest expense on a straight-line basis over the remaining life of the hedged instrument. The Company redesignated the portion of the modified interest rate swap that is not related to the financing agreement as a qualifying hedging instrument. Gains and losses from fair value adjustments on the cash flow hedges are initially classified in AOCL 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 AOCL within foreign currency translation and would only be reclassified to earnings if the European subsidiary were liquidated, or otherwise disposed. The tables 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 2020 2019 2020 2019 Three Months Ended June 30, Cash flow hedges: Interest rate contracts $ (4,370) $ (14,121) $ — $ — Net investment hedges: Forward contracts (31,147) (4,300) 7,476 5,008 Foreign currency debt (13,720) (10,570) — — Total $ (49,237) $ (28,991) $ 7,476 $ 5,008 Gain (Loss) Recognized in AOCL Before Reclassifications Gain Recognized in Interest Expense For Excluded Components 2020 2019 2020 2019 Six Months Ended June 30, Cash flow hedges: Interest rate contracts $ (28,830) $ (21,567) $ — $ — Net investment hedges: Cross-currency swap — 2,936 — 2,294 Forward contracts 15,701 5,641 13,998 6,624 Foreign currency debt (2,940) 5,110 — — Total $ (16,069) $ (7,880) $ 13,998 $ 8,918

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters As more fully discussed in the commitments and contingencies footnote of the Company's notes to the consolidated financial statements in its 2019 Annual Report on Form 10-K, a jury awarded damages against the Company in a litigated automotive product liability dispute. On February 19, 2020, the Washington Court of Appeals issued an order entirely reversing the jury’s finding on damages and ordering a new trial on damages. The plaintiffs subsequently appealed this order to the Washington Supreme Court; on July 7, 2020, the Washington Supreme Court indicated that it will consider a further appeal on this matter. 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 On July 19, 2019, a fire occurred at the S.P. Richards headquarters in Atlanta, Georgia. The building primarily held the S.P. Richards headquarters office and was connected to its Atlanta distribution center. The Company maintains property and casualty loss insurance coverage. The Company recognized a gain of $1,165 and $13,448 during the three and six months ended June 30, 2020, respectively, for insurance recoveries in excess of losses it has incurred on inventory, property, plant and equipment and other fire-related costs. The gain is included within other non-operating (income) expenses on the condensed consolidated statements of income. The Company expects to receive additional insurance recoveries in the future which will result in additional gains.

Acquisitions, Divestitures and

Acquisitions, Divestitures and Discontinued Operations	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions, Divestitures and Discontinued Operations Acquisitions The Company acquired several businesses for approximately $33,047 and $378,744, net of cash acquired, during the six months ended June 30, 2020 and June 30, 2019, respectively. The Company finalized the acquisition accounting for certain businesses acquired in prior periods, but there have been no significant measurement period adjustments during the three and six months ended June 30, 2020. Divestitures The Company received cash proceeds from divestitures of businesses totaling $382,737 and $12,028 for the six months ended June 30, 2020 and June 30, 2019, respectively. 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 annual revenues of approximately $15,900 for the year ended December 31, 2019 . The Company incurred realized currency losses of $27,037 from this transaction during the three months ended June 30, 2019. These losses are included within other non-operating (income) expenses on the condensed consolidated statements of income. Discontinued Operations Business Products Group Effective June 30, 2020, the Company completed the divestiture of its Business Products Group by selling Supply Source Enterprises, Inc. ("SSE") and S.P. Richards Company ("SPR") in separate transactions. There may be additional cash payments or receipts in subsequent quarters as the Company finalizes customary post-transaction working capital adjustments. These divestitures are part of the Company's long-term strategic initiative to streamline its operations and optimize its portfolio so that it can drive shareholder value by focusing on its global Automotive and Industrial Parts Groups. The Business Products Group was previously a reportable segment of the Company. These divestitures, together with prior period divestitures of Garland C. Norris (effective December 13, 2019), SPR Canada (effective January 1, 2020) and Safety Zone Canada (effective March 2, 2020), represent a single plan to exit the Business Products Group segment and are considered a strategic shift that will have a major effect on the Company’s operations and financial results. Therefore, the results of operations, financial position and cash flows for the Business Products Group are reported as discontinued operations for all periods presented. The Company maintains an immaterial investment in SPR and has concluded that SPR is a variable interest entity. The Company is not the primary beneficiary and therefore does not consolidate SPR. Among other things, the Company does not have any voting rights and does not have the power to direct the activities that most significantly affect SPR's economic performance. The Company’s results of operations for discontinued operations were: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net sales $ 379,938 $ 476,329 $ 846,944 $ 954,033 Cost of goods sold 277,614 360,452 632,007 722,786 Gross profit 102,324 115,877 214,937 231,247 Operating expenses 89,385 95,947 179,461 190,820 Loss (gain) on disposal 216,133 — 220,318 1,000 Income before income taxes (203,194) 19,930 (184,842) 39,427 Income taxes (1) (2,323) 5,019 1,840 9,950 Net (loss) income from discontinued operations $ (200,871) $ 14,911 $ (186,682) $ 29,477 Basic (loss) earnings per share from discontinued operations $ (1.39) $ 0.10 $ (1.29) $ 0.20 Diluted (loss) earnings per share from discontinued operations $ (1.39) $ 0.10 $ (1.29) $ 0.20 Weighted average common shares outstanding 144,262 146,075 144,657 146,029 Weighted average common shares outstanding – assuming dilution 144,262 146,736 144,657 146,713 (1) Income taxes include a $7,125 tax benefit associated with the (loss) gain on the disposal for the three and six months ended June 30, 2020. The Company’s assets and liabilities for discontinued operations, by major class, were: December 31, 2019 Assets Trade accounts receivable, net $ 194,903 Merchandise inventories, net 387,307 Prepaid expenses and other current assets 132,041 Other intangible assets, less accumulated amortization 76,829 Operating lease assets 80,302 Other assets 91,640 Total assets of discontinued operations $ 963,022 Liabilities Trade accounts payable $ 158,163 Other current liabilities 59,954 Operating lease liabilities 68,906 Total liabilities of discontinued operations $ 287,023

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Total consolidated goodwill as of June 30, 2020 is $1,771,835, net of $506,721 of accumulated impairment loss. The changes in the carrying amount of goodwill during the periods ended June 30, 2020 and December 31, 2019 by reportable segment, as well as other identifiable intangible assets, are summarized as follows: Goodwill Automotive Industrial Total Other Intangible Assets, Net Balance as of December 31, 2019 $ 1,897,495 $ 396,024 $ 2,293,519 $ 1,492,097 Additions (1) 10,672 (3,346) 7,326 7,224 Amortization — — — (45,996) Impairments (506,721) — (506,721) — Foreign currency translation (17,682) (4,607) (22,289) (30,645) Balance as of June 30, 2020 $ 1,383,764 $ 388,071 $ 1,771,835 $ 1,422,680 (1) Additions include measurement period adjustments related to prior year acquisitions. The Company reviews its goodwill annually for impairment in the fourth quarter, or sooner if circumstances indicate that the carrying amount may exceed fair value. The Company tests goodwill for impairment at the reporting unit level, which is an operating segment or a level below an operating segment (a component). Due to several factors that coalesced in the second quarter of 2020 the Company performed an interim impairment test as of May 31, 2020 for its European reporting unit and recorded a goodwill impairment charge of $506,721. The factors primarily resulted from the ongoing market volatility and uncertainty caused by the COVID-19 pandemic, which have extended into the second quarter and have impacted several critical impairment testing assumptions including weighted average cost of capital and market multiples, and near-term revenue and operating margin projections for the reporting unit. The Company also assessed the finite-lived, identifiable tangible and intangible assets at the European reporting unit for impairment under the undiscounted cash flows approach and concluded there was no impairment. The European reporting unit’s fair value was calculated using a combination of both income and market approaches and involved significant unobservable inputs (Level 3 inputs). The assumptions used in the income approach include projected revenue growth rates, operating margins, the estimated weighted average costs of capital and terminal value. The weighted-average cost of capital used in the income approach was adjusted to reflect the specific risks and uncertainties associated with the COVID-19 pandemic in developing the cash flow projections. The assumptions used in the market approach include benchmark company market multiples. The Company used inputs and assumptions it believed are consistent with those a hypothetical marketplace participant would use. The interim impairment tests were prepared in accordance with the Company's accounting policies as described in the summary of significant accounting policies footnote in its consolidated financial statements included in its Annual Report on Form 10-K for 2019. Should actual results differ from certain key assumptions used in the interim impairment test, including revenue and operating margin growth rates, which are both impacted by economic conditions, or should other key assumptions change, including benchmark company market multiples, weighted average costs of capital and terminal value, in subsequent periods the Company could record additional impairment charges for this reporting unit. If there are sustained declines in macroeconomic or business conditions in future periods, including as a result of the COVID-19 pandemic, affecting the projected earnings and cash flows at the Company's reporting units, among other things, there can be no assurance that goodwill at one or more reporting units may not be impaired. Based on the Company's interim impairment assessment as of June 30, 2020, which included reviewing the previous revenue and operating margin growth forecasts based on the current projections, the Company has determined that it is not more likely than not that the goodwill is impaired for all other reporting units.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe Company's effective income tax rate was negative 19.4% for the three months ended June 30, 2020, compared to 25.8% for the same three month period in 2019. The effective income tax rate was negative 67.7% for the six months ended June 30, 2020, compared to 25.1% for the same period in 2019. The rate decrease is primarily due to the non-deductible goodwill impairment charge and certain transaction and other costs.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per ShareAs more fully discussed in the share-based compensation footnote of the Company’s notes to the consolidated financial statements in its 2019 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 2,537 and 2,418 shares of common stock were outstanding but excluded from the computations of diluted earnings per share for the three and six month period ended June 30, 2020, respectively, as compared to approximately 247 and 135 for the three and six month period ended June 30, 2019, respectively. These options were excluded because their inclusion would have been anti-dilutive.

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring 2019 Cost Savings Plan As more fully discussed in the restructuring footnote of the Company's notes to the consolidated financial statements in its 2019 Annual Report on Form 10-K, the Company approved and began to implement certain restructuring actions (the “2019 Cost Savings Plan”) across its subsidiaries primarily targeted at simplifying organizational structures and distribution networks. The Company believes these actions will reduce costs in the future and allow it to more effectively and efficiently manage its businesses. The table below summarizes costs incurred in 2020 associated with the 2019 Cost Savings Plan: Total Restructuring costs $ 28,041 Remaining costs expected but not yet incurred 6,863 Total costs $ 34,904 The 2019 Cost Savings Plan was approved and funded by the Company's corporate office and therefore these costs are not allocated to the Company's segments. The cumulative amount of costs incurred as of June 30, 2020 since inception is $182,982. The table below summarizes the activity related to the restructuring costs discussed above. As of June 30, 2020, the current portion of the restructuring liability of $32,586 is included in other current liabilities on the condensed consolidated balance sheet. Severance and other employee costs Facility and closure costs Accelerated operating lease costs Asset impairments Total Liability as of January 1, 2020 $ 72,192 $ 6,639 $ — $ — $ 78,831 Restructuring costs 9,236 7,316 5,496 5,993 28,041 Cash payments (56,303) (5,098) — — (61,401) Non-cash charges — — (5,496) (5,993) (11,489) Translation (522) (84) — — (606) Liability as of June 30, 2020 $ 24,603 $ 8,773 $ — $ — $ 33,376

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2020
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. During the six months ended June 30, 2020, the Company completed the divestiture of its Business Products Group. Refer to the acquisitions, divestitures and discontinued operations footnote for more information. The Company's results of operations for the Business Products Group are reported as discontinued operations and all information related to the discontinued operations has been excluded from the notes to the condensed consolidated financial statements for all periods presented. Net (loss) income from discontinued operations for each period includes all costs that are directly attributable to these businesses and excludes certain corporate overhead costs that were previously allocated. Additionally, certain intercompany sales from the Automotive Parts Group are grossed up and recast in continuing operations in each period because those sales will continue with the discontinued operations after the divestiture. Except as disclosed herein, there have been no material changes 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, 2019. Accordingly, the unaudited interim condensed consolidated financial statements and related disclosures herein should be read in conjunction with the Company’s 2019 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, credit losses on guaranteed loans, 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, credit losses on guaranteed loans and customer sales returns are estimated and accrued on an interim basis based on a consideration of historical experience, current conditions, and reasonable and supportable forecasts. Volume incentives are estimated based upon cumulative and projected purchasing levels. 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 Company has reclassified certain prior period amounts to conform to the current period presentation.
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. Financial Instruments - Credit Losses (Topic 326) 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 loan guarantees 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. The Company adopted ASU 2016-13 and its amendments as of January 1, 2020, which included recognizing a cumulative-effect adjustment to reduce opening retained earnings by $11,432, net of taxes. 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 debt to earnings before interest, taxes, depreciation and amortization (“EBITDA”) ratio and certain limitations on additional borrowings. At June 30, 2020, the Company was in compliance with all such covenants.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 substantial portion of the amounts paid under the guarantees. The Company recognizes a liability equal to current expected credit losses over the lives of the loans in the guaranteed loan portfolio, based on a consideration of historical experience, current conditions, the nature and expected value of any collateral, and reasonable and supportable forecasts. To date, the Company has had no significant losses in connection with guarantees of independents’ and affiliates’ borrowings and the current expected credit loss reserve is not material. As of June 30, 2020, there are no material guaranteed loans for which the borrower is experiencing financial difficulty and recovery is expected to be provided substantially through the operation or sale of the collateral.
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.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)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Summary of Segment Information	The following table presents a summary of the Company's reportable segment financial information from continuing operations: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net sales: Automotive $ 2,495,799 $ 2,776,210 $ 5,078,484 $ 5,399,916 Industrial 1,327,428 1,681,721 2,837,269 3,317,144 Total net sales $ 3,823,227 $ 4,457,931 $ 7,915,753 $ 8,717,060 Segment profit: Automotive $ 218,906 $ 228,736 $ 361,484 $ 408,304 Industrial 108,928 136,334 222,861 257,362 Total segment profit $ 327,834 $ 365,070 $ 584,345 $ 665,666 Interest expense, net (24,876) (22,586) (44,744) (45,603) Intangible asset amortization (23,256) (22,604) (45,996) (43,875) Corporate expense (28,613) (33,573) (83,674) (64,752) Other unallocated costs (1) (555,525) (4,108) (553,774) (37,222) (Loss) income before income taxes from continuing operations $ (304,436) $ 282,199 $ (143,843) $ 474,214 (1) The following table presents a summary of the other unallocated costs: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Other unallocated costs: Goodwill impairment charge (2) $ (506,721) $ — $ (506,721) $ — Restructuring costs (3) (25,059) — (28,041) — Realized currency loss (4) (11,356) — (11,356) (27,037) Gain on insurance proceeds related to SPR Fire (5) 1,166 — 13,448 — Transaction and other costs (6) (13,555) (4,108) (21,104) (10,185) Total other unallocated costs $ (555,525) $ (4,108) $ (553,774) $ (37,222) (2) Adjustment reflects the second quarter goodwill impairment charge related to the Company's European reporting unit. Refer to the goodwill and other intangible assets footnote. (3) Adjustment reflects restructuring costs related to the ongoing execution of the 2019 Cost Savings Plan announced in the fourth quarter of 2019. The costs are primarily associated with severance and other employee costs, including a voluntary retirement program, and facility and closure costs related to the consolidation of operations. Refer to the restructuring footnote. (4) Adjustment reflects realized currency losses related to divestitures. Refer to the acquisitions, divestitures and discontinued operations footnote. (5) Adjustment reflects insurance recoveries in excess of losses incurred on inventory, property, plant and equipment and other fire-related costs related to the S.P. Richards Headquarters and Distribution Center. Refer to the commitments and contingencies footnote.
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 June 30, Six Months Ended June 30, 2020 2019 2020 2019 North America: Automotive $ 1,715,567 $ 1,964,985 $ 3,447,063 $ 3,780,131 Industrial 1,231,208 1,681,721 2,641,923 3,317,144 Total North America $ 2,946,775 $ 3,646,706 $ 6,088,986 $ 7,097,275 Australasia: Automotive $ 282,797 $ 286,717 $ 555,721 $ 571,270 Industrial 96,220 — 195,346 — Total Australasia $ 379,017 $ 286,717 $ 751,067 $ 571,270 Europe – Automotive $ 497,435 $ 524,508 $ 1,075,700 $ 1,048,515 Total net sales $ 3,823,227 $ 4,457,931 $ 7,915,753 $ 8,717,060

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	The following tables present the changes in accumulated other comprehensive loss (“AOCL”) by component for the six months ended June 30: Changes in Accumulated Other Pension and Other Post-Retirement Benefits Cash Flow Hedges Foreign Currency Translation Total Beginning balance, January 1, 2020 $ (704,415) $ (20,671) $ (416,222) $ (1,141,308) Other comprehensive loss before reclassifications — (21,046) (82,370) (103,416) Amounts reclassified from accumulated other comprehensive loss 16,292 4,704 11,356 32,352 Other comprehensive income (loss), net of income taxes 16,292 (16,342) (71,014) (71,064) Ending balance, June 30, 2020 $ (688,123) $ (37,013) $ (487,236) $ (1,212,372) Changes in Accumulated Other Pension and Other Post-Retirement Benefits Cash Flow Hedges Foreign Currency Translation Total Beginning balance, January 1, 2019 $ (626,322) $ (4,631) $ (484,125) $ (1,115,078) Other comprehensive income (loss) before reclassifications — (10,827) 20,936 10,109 Amounts reclassified from accumulated other comprehensive loss (1) 9,665 (4,386) 27,037 32,316 Other comprehensive income (loss), net of income taxes 9,665 (15,213) 47,973 42,425 Cumulative effect from adoption of ASU 2018-02 (122,526) — — (122,526) Ending balance, June 30, 2019 $ (739,183) $ (19,844) $ (436,152) $ (1,195,179)

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2020
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 June 30: Pension Benefits 2020 2019 Service cost $ 2,925 $ 2,379 Interest cost 20,865 24,335 Expected return on plan assets (38,410) (38,507) Amortization of prior service credit 173 (17) Amortization of actuarial loss 11,088 7,746 Net periodic benefit income $ (3,359) $ (4,064) Net periodic benefit income from the Company's pension plans included the following components for the six months ended June 30: Pension Benefits 2020 2019 Service cost $ 5,907 $ 4,769 Interest cost 41,790 48,683 Expected return on plan assets (76,933) (77,034) Amortization of prior service credit 346 (34) Amortization of actuarial loss 22,210 15,495 Net periodic benefit income $ (6,680) $ (8,121)

Accounts Receivable Sales Agr_2

Accounts Receivable Sales Agreement (Tables)	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables, Sales	The following table represents a summary of the activity under the A/R Sales Agreement since its inception: June 30, 2020 Receivables sold to the financial institution and derecognized $ 902,326 Cash collected on sold receivables $ 402,302 Receivables pledged as collateral on sold receivables as of period-end $ 342,636

Derivatives and Hedging (Tables

Derivatives and Hedging (Tables)	6 Months Ended
	Jun. 30, 2020
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: June 30, 2020 December 31, 2019 Instrument Balance Sheet Location Notional Balance Notional Balance Cash flow hedges: Interest rate swaps Other current liabilities $ 800,000 $ 358 $ 800,000 $ 24,792 Net investment hedges: Forward contracts Prepaid expenses and other current assets $ 1,160,990 $ 76,169 $ 925,810 $ 39,965 Foreign currency debt Long-term debt € 700,000 $ 786,940 € 700,000 $ 784,000
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The tables 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 2020 2019 2020 2019 Three Months Ended June 30, Cash flow hedges: Interest rate contracts $ (4,370) $ (14,121) $ — $ — Net investment hedges: Forward contracts (31,147) (4,300) 7,476 5,008 Foreign currency debt (13,720) (10,570) — — Total $ (49,237) $ (28,991) $ 7,476 $ 5,008 Gain (Loss) Recognized in AOCL Before Reclassifications Gain Recognized in Interest Expense For Excluded Components 2020 2019 2020 2019 Six Months Ended June 30, Cash flow hedges: Interest rate contracts $ (28,830) $ (21,567) $ — $ — Net investment hedges: Cross-currency swap — 2,936 — 2,294 Forward contracts 15,701 5,641 13,998 6,624 Foreign currency debt (2,940) 5,110 — — Total $ (16,069) $ (7,880) $ 13,998 $ 8,918
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)	The tables 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 2020 2019 2020 2019 Three Months Ended June 30, Cash flow hedges: Interest rate contracts $ (4,370) $ (14,121) $ — $ — Net investment hedges: Forward contracts (31,147) (4,300) 7,476 5,008 Foreign currency debt (13,720) (10,570) — — Total $ (49,237) $ (28,991) $ 7,476 $ 5,008 Gain (Loss) Recognized in AOCL Before Reclassifications Gain Recognized in Interest Expense For Excluded Components 2020 2019 2020 2019 Six Months Ended June 30, Cash flow hedges: Interest rate contracts $ (28,830) $ (21,567) $ — $ — Net investment hedges: Cross-currency swap — 2,936 — 2,294 Forward contracts 15,701 5,641 13,998 6,624 Foreign currency debt (2,940) 5,110 — — Total $ (16,069) $ (7,880) $ 13,998 $ 8,918

Acquisitions, Divestitures an_2

Acquisitions, Divestitures and Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Disposal Groups, Including Discontinued Operations	The Company’s results of operations for discontinued operations were: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net sales $ 379,938 $ 476,329 $ 846,944 $ 954,033 Cost of goods sold 277,614 360,452 632,007 722,786 Gross profit 102,324 115,877 214,937 231,247 Operating expenses 89,385 95,947 179,461 190,820 Loss (gain) on disposal 216,133 — 220,318 1,000 Income before income taxes (203,194) 19,930 (184,842) 39,427 Income taxes (1) (2,323) 5,019 1,840 9,950 Net (loss) income from discontinued operations $ (200,871) $ 14,911 $ (186,682) $ 29,477 Basic (loss) earnings per share from discontinued operations $ (1.39) $ 0.10 $ (1.29) $ 0.20 Diluted (loss) earnings per share from discontinued operations $ (1.39) $ 0.10 $ (1.29) $ 0.20 Weighted average common shares outstanding 144,262 146,075 144,657 146,029 Weighted average common shares outstanding – assuming dilution 144,262 146,736 144,657 146,713 (1) Income taxes include a $7,125 tax benefit associated with the (loss) gain on the disposal for the three and six months ended June 30, 2020. The Company’s assets and liabilities for discontinued operations, by major class, were: December 31, 2019 Assets Trade accounts receivable, net $ 194,903 Merchandise inventories, net 387,307 Prepaid expenses and other current assets 132,041 Other intangible assets, less accumulated amortization 76,829 Operating lease assets 80,302 Other assets 91,640 Total assets of discontinued operations $ 963,022 Liabilities Trade accounts payable $ 158,163 Other current liabilities 59,954 Operating lease liabilities 68,906 Total liabilities of discontinued operations $ 287,023

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	The changes in the carrying amount of goodwill during the periods ended June 30, 2020 and December 31, 2019 by reportable segment, as well as other identifiable intangible assets, are summarized as follows: Goodwill Automotive Industrial Total Other Intangible Assets, Net Balance as of December 31, 2019 $ 1,897,495 $ 396,024 $ 2,293,519 $ 1,492,097 Additions (1) 10,672 (3,346) 7,326 7,224 Amortization — — — (45,996) Impairments (506,721) — (506,721) — Foreign currency translation (17,682) (4,607) (22,289) (30,645) Balance as of June 30, 2020 $ 1,383,764 $ 388,071 $ 1,771,835 $ 1,422,680 (1) Additions include measurement period adjustments related to prior year acquisitions.

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The table below summarizes costs incurred in 2020 associated with the 2019 Cost Savings Plan: Total Restructuring costs $ 28,041 Remaining costs expected but not yet incurred 6,863 Total costs $ 34,904 Severance and other employee costs Facility and closure costs Accelerated operating lease costs Asset impairments Total Liability as of January 1, 2020 $ 72,192 $ 6,639 $ — $ — $ 78,831 Restructuring costs 9,236 7,316 5,496 5,993 28,041 Cash payments (56,303) (5,098) — — (61,401) Non-cash charges — — (5,496) (5,993) (11,489) Translation (522) (84) — — (606) Liability as of June 30, 2020 $ 24,603 $ 8,773 $ — $ — $ 33,376

Segment Information - Operating

Segment Information - Operating Results by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Net sales	$ 3,823,227	$ 4,457,931	$ 7,915,753	$ 8,717,060
Intangible asset amortization			(45,996)
(Loss) income before income taxes	(304,436)	282,199	(143,843)	474,214
Incremental expense, COVID-19	2,481		8,490
Operating Segments
Segment Reporting Information [Line Items]
Net sales	3,823,227	4,457,931	7,915,753	8,717,060
Operating profit	327,834	365,070	584,345	665,666
Operating Segments | Automotive Parts
Segment Reporting Information [Line Items]
Net sales	2,495,799	2,776,210	5,078,484	5,399,916
Operating profit	218,906	228,736	361,484	408,304
Operating Segments | Industrial Parts
Segment Reporting Information [Line Items]
Net sales	1,327,428	1,681,721	2,837,269	3,317,144
Operating profit	108,928	136,334	222,861	257,362
Other
Segment Reporting Information [Line Items]
Interest expense, net	(24,876)	(22,586)	(44,744)	(45,603)
Intangible asset amortization	(23,256)	(22,604)	(45,996)	(43,875)
Corporate expense	(28,613)	(33,573)	(83,674)	(64,752)
Other unallocated amounts	$ (555,525)	$ (4,108)	$ (553,774)	$ (37,222)

Segment Information - Summary o

Segment Information - Summary of Unallocated Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Goodwill impairment charge	$ (506,721)	$ 0	$ (506,721)	$ 0
Restructuring costs	(25,059)	0	(28,041)	0
Gain on insurance proceeds related to SPR Fire	1,165		13,448
Other
Segment Reporting Information [Line Items]
Goodwill impairment charge	(506,721)	0	(506,721)	0
Restructuring costs	(25,059)	0	(28,041)	0
Realized currency loss	(11,356)	0	(11,356)	(27,037)
Gain on insurance proceeds related to SPR Fire	1,166	0	13,448	0
Transaction and other costs	(13,555)	(4,108)	(21,104)	(10,185)
Total other unallocated costs	$ (555,525)	$ (4,108)	$ (553,774)	$ (37,222)

Segment Information - Disaggreg

Segment Information - Disaggregated Geographical Revenue by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 3,823,227	$ 4,457,931	$ 7,915,753	$ 8,717,060
North America
Disaggregation of Revenue [Line Items]
Net sales	2,946,775	3,646,706	6,088,986	7,097,275
Australasia
Disaggregation of Revenue [Line Items]
Net sales	379,017	286,717	751,067	571,270
Automotive Parts | North America
Disaggregation of Revenue [Line Items]
Net sales	1,715,567	1,964,985	3,447,063	3,780,131
Automotive Parts | Australasia
Disaggregation of Revenue [Line Items]
Net sales	282,797	286,717	555,721	571,270
Automotive Parts | Europe
Disaggregation of Revenue [Line Items]
Net sales	497,435	524,508	1,075,700	1,048,515
Industrial Parts | North America
Disaggregation of Revenue [Line Items]
Net sales	1,231,208	1,681,721	2,641,923	3,317,144
Industrial Parts | Australasia
Disaggregation of Revenue [Line Items]
Net sales	$ 96,220	$ 0	$ 195,346	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive (Loss) by Component (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
AOCI Attributable to Parent [Roll Forward]
Beginning balance	$ 3,674,707
Other comprehensive loss before reclassifications	(103,416)	$ 10,109
Amounts reclassified from accumulated other comprehensive loss	32,352	32,316
Other comprehensive income (loss), net of income taxes	(71,064)	42,425
Ending balance	2,849,275
Pension and Other Post-Retirement Benefits
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(704,415)	(626,322)
Other comprehensive loss before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss	16,292	9,665
Other comprehensive income (loss), net of income taxes	16,292	9,665
Ending balance	(688,123)	(739,183)
Pension and Other Post-Retirement Benefits | Cumulative Effect, Period of Adoption, Adjustment
AOCI Attributable to Parent [Roll Forward]
Beginning balance		(122,526)
Net Investment Hedge
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(20,671)	(4,631)
Other comprehensive loss before reclassifications	(21,046)	(10,827)
Amounts reclassified from accumulated other comprehensive loss	4,704	(4,386)
Other comprehensive income (loss), net of income taxes	(16,342)	(15,213)
Ending balance	(37,013)	(19,844)
Net Investment Hedge | Cumulative Effect, Period of Adoption, Adjustment
AOCI Attributable to Parent [Roll Forward]
Beginning balance		0
Foreign Currency Translation
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(416,222)	(484,125)
Other comprehensive loss before reclassifications	(82,370)	20,936
Amounts reclassified from accumulated other comprehensive loss	11,356	27,037
Other comprehensive income (loss), net of income taxes	(71,014)	47,973
Ending balance	(487,236)	(436,152)
Foreign Currency Translation | Cumulative Effect, Period of Adoption, Adjustment
AOCI Attributable to Parent [Roll Forward]
Beginning balance		0
Total
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(1,141,308)	(1,115,078)
Ending balance	$ (1,212,372)	(1,195,179)
Total | Cumulative Effect, Period of Adoption, Adjustment
AOCI Attributable to Parent [Roll Forward]
Beginning balance		$ (122,526)

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 3,809,564		$ 4,571,860
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings		$ (11,432)

Employee Benefit Plans - Compon

Employee Benefit Plans - Components of Net Periodic Benefit Income for the Pension Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Retirement Benefits [Abstract]
Service cost	$ 2,925	$ 2,379	$ 5,907	$ 4,769
Interest cost	20,865	24,335	41,790	48,683
Expected return on plan assets	(38,410)	(38,507)	(76,933)	(77,034)
Amortization of prior service credit	173	(17)	346	(34)
Amortization of actuarial loss	11,088	7,746	22,210	15,495
Net periodic benefit income	$ (3,359)	$ (4,064)	$ (6,680)	$ (8,121)

Guarantees (Details)

Guarantees (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Guarantor Obligations [Line Items]
Total borrowings of the independents and affiliates subject to guarantee	$ 925,109
Guarantees related to borrowings, other assets	90,000
Guarantor obligation, current carrying value	$ 90,000
Minimum
Guarantor Obligations [Line Items]
Guaranteed obligations maturity (in years)	1 year
Maximum
Guarantor Obligations [Line Items]
Guaranteed obligations maturity (in years)	6 years

Credit Facilities (Details)

Credit Facilities (Details)	May 01, 2020	Apr. 30, 2020	Dec. 31, 2020
Amended and Restated Syndicated Credit Facility Agreement
Debt Instrument [Line Items]
Leverage ratio	4	3.50
Interest rate, increase (decrease)	0.75%
Amended and Restated Syndicated Credit Facility Agreement | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Amended and Restated Syndicated Credit Facility Agreement | London Interbank Offered Rate (LIBOR) [Member] | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%	0.00%
Amended and Restated Syndicated Credit Facility Agreement | Forecast
Debt Instrument [Line Items]
Leverage ratio			3.50
Amended and Restated Notes Agreement
Debt Instrument [Line Items]
Leverage ratio		3.50
Interest rate, increase (decrease)	0.50%

Accounts Receivable Sales Agr_3

Accounts Receivable Sales Agreement (Details) - USD ($)	May 29, 2020	Jun. 30, 2020
Receivables [Abstract]
Sale agreement term	364 days
Sale agreement amount	$ 500,000,000
Receivables sold to the financial institution and derecognized		$ 902,326,000
Cash collected on sold receivables		402,302,000
Receivables pledged as collateral on sold receivables as of period-end		$ 342,636,000

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) $ in Thousands	Jun. 30, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed rate debt, carrying amount	$ 1,939,978
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	1,845,693
Fixed rate debt, carrying amount	$ 1,939,978

Derivatives and Hedging - Sched

Derivatives and Hedging - Schedule of Location and Fair Value Amounts of Derivative Instruments (Details) € in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020EUR (€)	Dec. 31, 2019EUR (€)	Jun. 30, 2020USD ($)	May 01, 2020USD ($)	Dec. 31, 2019USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Balance			$ 1,939,978
De-designated derivative instruments, liabilities				$ 48,492
Cash flow hedges | Designated as hedging relationship | Other current liabilities | Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional			800,000		$ 800,000
Balance			358		24,792
Net investment hedges | Designated as hedging relationship | Prepaid expenses and other current assets | Forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional			1,160,990		925,810
Balance			76,169		39,965
Net investment hedges | Designated as hedging relationship | Long-term debt | Foreign currency debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional | €	€ 700,000	€ 700,000
Balance			$ 786,940		$ 784,000

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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCL Before Reclassifications	$ (49,237)	$ (28,991)	$ (16,069)	$ (7,880)
Gain Recognized in Interest Expense For Excluded Components	7,476	5,008	13,998	8,918
Cash flow hedges | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCL Before Reclassifications	(4,370)	(14,121)	(28,830)	(21,567)
Net investment hedges | Cross-currency swap
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCL Before Reclassifications			0	2,936
Gain Recognized in Interest Expense For Excluded Components			0	2,294
Net investment hedges | Forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCL Before Reclassifications	(31,147)	(4,300)	15,701	5,641
Gain Recognized in Interest Expense For Excluded Components	7,476	5,008	13,998	6,624
Net investment hedges | Foreign currency debt
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in AOCL Before Reclassifications	$ (13,720)	$ (10,570)	$ (2,940)	$ 5,110

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Insurance recoveries	$ 1,165	$ 13,448

Acquisitions, Divestitures an_3

Acquisitions, Divestitures and Discontinued Operations - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Business Acquisition [Line Items]
Payments to acquire businesses, net			$ 33,047	$ 378,744
Revenue of disposed entity	$ 379,938	$ 476,329	846,944	954,033
Business exit costs	$ 25,059	0	28,041	0
Proceeds from divestitures of businesses			$ 382,737	$ 12,028
Grupo Auto Todo
Business Acquisition [Line Items]
Revenue of disposed entity					$ 15,900
Business exit costs		$ 27,037

Acquisitions, Divestitures an_4

Acquisitions, Divestitures and Discontinued Operations - Results of Operations for Discontinued Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Business Combinations [Abstract]
Net sales	$ 379,938	$ 476,329	$ 846,944	$ 954,033
Cost of goods sold	277,614	360,452	632,007	722,786
Gross profit	102,324	115,877	214,937	231,247
Operating expenses	89,385	95,947	179,461	190,820
Loss (gain) on disposal	216,133	0	220,318	1,000
Income before income taxes	(203,194)	19,930	(184,842)	39,427
Income taxes	(2,323)	5,019	1,840	9,950
Net (loss) income from discontinued operations	$ (200,871)	$ 14,911	$ (186,682)	$ 29,477
Basic (loss) earnings per share from discontinued operations (in dollars per share)	$ (1.39)	$ 0.10	$ (1.29)	$ 0.20
Diluted (loss) earnings per share from discontinued operations (in dollars per share)	$ (1.39)	$ 0.10	$ (1.29)	$ 0.20
Weighted average common shares outstanding (in shares)	144,262	146,075	144,657	146,029
Weighted average common shares outstanding - assuming dilution (in shares)	144,262	146,736	144,657	146,713
Income tax benefit from disposal	$ 7,125		$ 7,125

Acquisitions, Divestitures an_5

Acquisitions, Divestitures and Discontinued Operations - Assets and Liabilities (Details) $ in Thousands	Dec. 31, 2019USD ($)
Assets
Trade accounts receivable, net	$ 194,903
Merchandise inventories, net	387,307
Prepaid expenses and other current assets	132,041
Other intangible assets, less accumulated amortization	76,829
Operating lease assets	80,302
Other assets	91,640
Total assets of discontinued operations	963,022
Liabilities
Trade accounts payable	158,163
Other current liabilities	59,954
Operating lease liabilities	68,906
Total liabilities of discontinued operations	$ 287,023

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	May 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Goodwill
Balance as of December 31, 2019				$ 2,293,519
Additions				7,326
Impairments		$ 506,721	$ 0	506,721	$ 0
Foreign currency translation				(22,289)
Balance as of June 30, 2020		1,771,835		1,771,835
Other Intangible Assets, Net
Balance as of December 31, 2019				1,492,097
Additions				7,224
Amortization				(45,996)
Impairments				0
Foreign currency translation				(30,645)
Balance as of June 30, 2020		1,422,680		1,422,680
Accumulated goodwill impairment		506,721		506,721
Automotive Parts
Goodwill
Balance as of December 31, 2019				1,897,495
Additions				10,672
Impairments				506,721
Foreign currency translation				(17,682)
Balance as of June 30, 2020		1,383,764		1,383,764
Automotive Parts | Europe
Goodwill
Impairments	$ 506,721
Industrial Parts
Goodwill
Balance as of December 31, 2019				396,024
Additions				(3,346)
Impairments				0
Foreign currency translation				(4,607)
Balance as of June 30, 2020		$ 388,071		$ 388,071

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	(19.40%)	25.80%	(67.70%)	25.10%

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,537	247	2,418	135

Restructuring - Summary of Rest

Restructuring - Summary of Restructuring Costs (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Restructuring and Related Activities [Abstract]
Restructuring costs	$ 28,041
Remaining costs expected but not yet incurred	6,863
Total costs	$ 34,904

Restructuring - Additional Info

Restructuring - Additional Information (Details) $ in Thousands	Jun. 30, 2020USD ($)
Restructuring and Related Activities [Abstract]
Restructuring costs incurred to date	$ 182,982
Restructuring reserve, current	$ 32,586

Restructuring - Rollforward of

Restructuring - Rollforward of Restructuring Liability (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Restructuring Reserve [Roll Forward]
Liability as of January 1, 2020	$ 78,831
Restructuring costs	28,041
Cash payments	(61,401)
Non-cash charges	(11,489)
Translation	(606)
Liability as of June 30, 2020	33,376
Severance and other employee costs
Restructuring Reserve [Roll Forward]
Liability as of January 1, 2020	72,192
Restructuring costs	9,236
Cash payments	(56,303)
Non-cash charges	0
Translation	(522)
Liability as of June 30, 2020	24,603
Facility and closure costs
Restructuring Reserve [Roll Forward]
Liability as of January 1, 2020	6,639
Restructuring costs	7,316
Cash payments	(5,098)
Non-cash charges	0
Translation	(84)
Liability as of June 30, 2020	8,773
Accelerated operating lease costs
Restructuring Reserve [Roll Forward]
Liability as of January 1, 2020	0
Restructuring costs	5,496
Cash payments	0
Non-cash charges	(5,496)
Translation	0
Liability as of June 30, 2020	0
Asset impairments
Restructuring Reserve [Roll Forward]
Liability as of January 1, 2020	0
Restructuring costs	5,993
Cash payments	0
Non-cash charges	(5,993)
Translation	0
Liability as of June 30, 2020	$ 0