Genuine Parts (GPC) 10-Q 20 Oct 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Oct. 17, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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		141,161,349
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000040987
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 629,198	$ 714,701
Trade accounts receivable, less allowance for doubtful accounts (2022 – $47,262; 2021 – $44,425)	2,215,032	1,797,955
Merchandise inventories, net	4,300,709	3,889,919
Prepaid expenses and other current assets	1,678,259	1,353,847
Total current assets	8,823,198	7,756,422
Goodwill	2,460,911	1,915,307
Other intangible assets, less accumulated amortization	1,748,274	1,406,401
Property, plant and equipment, less accumulated depreciation (2022 – $1,369,770; 2021 – $1,339,706)	1,241,567	1,234,399
Operating lease assets	1,073,858	1,053,689
Other assets	1,029,272	985,884
Total assets	16,377,080	14,352,102
Current liabilities:
Trade accounts payable	5,531,253	4,804,939
Current portion of debt	1,629	0
Dividends payable	126,434	115,876
Other current liabilities	1,835,803	1,660,768
Total current liabilities	7,495,119	6,581,583
Long-term debt	3,231,668	2,409,363
Operating lease liabilities	809,495	789,175
Pension and other post–retirement benefit liabilities	262,820	265,134
Deferred tax liabilities	398,797	280,778
Other long-term liabilities	500,989	522,779
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 – 2022 – 140,962,009 shares; 2021 – 142,180,683 shares	140,962	142,181
Additional paid-in capital	132,240	119,975
Accumulated other comprehensive loss	(1,074,316)	(857,739)
Retained earnings	4,465,565	4,086,325
Total parent equity	3,664,451	3,490,742
Noncontrolling interests in subsidiaries	13,741	12,548
Total equity	3,678,192	3,503,290
Total liabilities and equity	$ 16,377,080	$ 14,352,102

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 47,262	$ 44,425
Accumulated depreciation	$ 1,369,770	$ 1,339,706
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)	140,962,009	142,180,683
Common stock, shares outstanding (in shares)	140,962,009	142,180,683

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Net sales	$ 5,675,274	$ 4,818,849	$ 16,572,323	$ 14,067,301
Cost of goods sold	3,695,607	3,108,082	10,805,910	9,126,614
Gross profit	1,979,667	1,710,767	5,766,413	4,940,687
Operating expenses:
Selling, administrative and other expenses	1,458,418	1,338,768	4,226,412	3,883,241
Depreciation and amortization	86,563	72,121	259,822	218,377
Provision for doubtful accounts	6,146	4,284	13,539	14,230
Total operating expenses	1,551,127	1,415,173	4,499,773	4,115,848
Non-operating expense (income):
Interest expense, net	18,220	14,167	58,318	47,853
Other	(7,616)	(17,547)	(26,897)	(77,454)
Total non-operating expense (income)	10,604	(3,380)	31,421	(29,601)
Income before income taxes	417,936	298,974	1,235,219	854,440
Income taxes	105,578	70,389	304,494	211,649
Net income	$ 312,358	$ 228,585	$ 930,725	$ 642,791
Dividends declared per common share (usd per share)	$ 0.8950	$ 0.8150	$ 2.6850	$ 2.445
Basic earnings per share (usd per share)	2.21	1.60	6.57	4.47
Diluted earnings per share (usd per share)	$ 2.20	$ 1.59	$ 6.53	$ 4.44
Weighted average common shares outstanding (in shares)	141,336	142,871	141,609	143,826
Dilutive effect of stock options and non-vested restricted stock awards (in shares)	773	718	819	796
Weighted average common shares outstanding - assuming dilution (in shares)	142,109	143,589	142,428	144,622

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 312,358	$ 228,585	$ 930,725	$ 642,791
Foreign currency translation adjustments, net of income taxes in 2022 — $33,843 and $73,892; 2021 — $11,328 and $25,494, respectively	(131,811)	(82,574)	(248,757)	(75,738)
Cash flow hedge adjustments, net of income taxes in 2022 — $1,384 and $4,151 ; 2021 — $1,384 and $4,151, respectively	3,741	3,741	11,223	11,223
Pension and postretirement benefit adjustments, net of income taxes in 2022 — $2,576 and $7,736; 2021 — $3,425 and $10,280, respectively	6,982	9,301	20,957	27,931
Other comprehensive loss, net of income taxes	(121,088)	(69,532)	(216,577)	(36,584)
Comprehensive income	$ 191,270	$ 159,053	$ 714,148	$ 606,207

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax	$ 33,843	$ 11,328	$ 73,892	$ 25,494
Net investment hedge, tax	1,384	1,384	4,151	4,151
Pension and postretirement benefit adjustments, tax	$ 2,576	$ 3,425	$ 7,736	$ 10,280

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	[1]	Total Parent Equity	Total Parent Equity Cumulative Effect, Period of Adoption, Adjustment	[1]	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	[1]	Non-controlling Interests in Subsidiaries
Beginning balance (in shares) at Dec. 31, 2020							144,354,335
Beginning balance at Dec. 31, 2020	$ 3,218,003	$ 6,223		$ 3,204,796	$ 6,223		$ 144,354	$ 117,165	$ (1,036,502)	$ 3,979,779	$ 6,223		$ 13,207
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	642,791			642,791						642,791
Other comprehensive loss, net of tax	(36,584)			(36,584)					(36,584)
Cash dividends declared	(351,606)			(351,606)						(351,606)
Share-based awards exercised, including tax benefit (in shares)							385,419
Share-based awards exercised, including tax benefit	(19,398)			(19,398)			$ 385	(19,783)
Share-based compensation	20,841			20,841				20,841
Purchase of stock (in shares)							(2,236,261)
Purchase of stock	(283,886)			(283,886)			$ (2,236)			(281,650)
Noncontrolling interest activities	174												174
Ending balance (in shares) at Sep. 30, 2021							142,503,493
Ending balance at Sep. 30, 2021	3,196,558			3,183,177			$ 142,503	118,223	(1,073,086)	3,995,537			13,381
Beginning balance (in shares) at Jun. 30, 2021							143,301,673
Beginning balance at Jun. 30, 2021	3,245,145			3,233,879			$ 143,302	111,972	(1,003,554)	3,982,159			11,266
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	228,585			228,585						228,585
Other comprehensive loss, net of tax	(69,532)			(69,532)					(69,532)
Cash dividends declared	(116,486)			(116,486)						(116,486)
Share-based awards exercised, including tax benefit (in shares)							2,256
Share-based awards exercised, including tax benefit	(68)			(68)			$ 1	(69)
Share-based compensation	6,320			6,320				6,320
Purchase of stock (in shares)							(800,436)
Purchase of stock	(99,521)			(99,521)			$ (800)			(98,721)
Noncontrolling interest activities	2,115												2,115
Ending balance (in shares) at Sep. 30, 2021							142,503,493
Ending balance at Sep. 30, 2021	3,196,558			3,183,177			$ 142,503	118,223	(1,073,086)	3,995,537			13,381
Beginning balance (in shares) at Dec. 31, 2021							142,180,683
Beginning balance at Dec. 31, 2021	3,503,290			3,490,742			$ 142,181	119,975	(857,739)	4,086,325			12,548
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	930,725			930,725						930,725
Other comprehensive loss, net of tax	(216,577)			(216,577)					(216,577)
Cash dividends declared	(380,041)			(380,041)						(380,041)
Share-based awards exercised, including tax benefit (in shares)							63,877
Share-based awards exercised, including tax benefit	(15,444)			(15,444)			$ 64	(15,508)
Share-based compensation	27,773			27,773				27,773
Purchase of stock (in shares)							(1,282,551)
Purchase of stock	(172,727)			(172,727)			$ (1,283)			(171,444)
Noncontrolling interest activities	1,193												1,193
Ending balance (in shares) at Sep. 30, 2022							140,962,009
Ending balance at Sep. 30, 2022	3,678,192			3,664,451			$ 140,962	132,240	(1,074,316)	4,465,565			13,741
Beginning balance (in shares) at Jun. 30, 2022							141,280,841
Beginning balance at Jun. 30, 2022	3,653,563			3,640,556			$ 141,281	123,388	(953,228)	4,329,115			13,007
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	312,358			312,358						312,358
Other comprehensive loss, net of tax	(121,088)			(121,088)					(121,088)
Cash dividends declared	(126,434)			(126,434)						(126,434)
Share-based awards exercised, including tax benefit (in shares)							14,619
Share-based awards exercised, including tax benefit	(1,024)			(1,024)			$ 15	(1,039)
Share-based compensation	9,891			9,891				9,891
Purchase of stock (in shares)							(333,451)
Purchase of stock	(49,808)			(49,808)			$ (334)			(49,474)
Noncontrolling interest activities	734												734
Ending balance (in shares) at Sep. 30, 2022							140,962,009
Ending balance at Sep. 30, 2022	$ 3,678,192			$ 3,664,451			$ 140,962	$ 132,240	$ (1,074,316)	$ 4,465,565			$ 13,741
[1] We adopted Accounting Standards Update (“ASU”) 2019-12, Simplifying the Accounting for Income Taxes

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share (usd per share)	$ 0.8950	$ 0.8150	$ 2.6850	$ 2.445
Share-based awards exercised, tax	$ 731	$ 40	$ 3,868	$ 6,667

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities:
Net income	$ 930,725	$ 642,791
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	259,822	218,377
Loss on software disposal	0	61,063
Share-based compensation	27,773	20,841
Gain on sale of real estate	(102,803)	0
Intangible asset impairment	17,461	0
Excess tax benefits from share-based compensation	(3,868)	(6,667)
Changes in operating assets and liabilities	115,481	71,791
Net cash provided by operating activities	1,244,591	1,008,196
Investing activities:
Purchases of property, plant and equipment	(243,998)	(138,206)
Proceeds from sale of property, plant and equipment	141,228	24,184
Proceeds from divestitures of businesses	32,620	16,687
Acquisitions of businesses and other investing activities	(1,586,812)	(142,567)
Net cash used in investing activities	(1,656,962)	(239,902)
Financing activities:
Proceeds from debt	4,547,511	242,332
Payments on debt	(3,586,954)	(403,126)
Share-based awards exercised	(15,444)	(19,398)
Dividends paid	(369,483)	(349,293)
Purchases of stock	(172,727)	(283,886)
Other financing activities	(16,869)	(5,353)
Net cash provided by (used in) financing activities	386,034	(818,724)
Effect of exchange rate changes on cash and cash equivalents	(59,166)	(20,639)
Net decrease in cash and cash equivalents	(85,503)	(71,069)
Cash and cash equivalents at beginning of period	714,701	990,166
Cash and cash equivalents at end of period	$ 629,198	$ 919,097

General

General	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
General	General Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and therefore do not include all information and footnotes required by accounting principles generally accepted in the U.S. (“U.S. GAAP”) for complete financial statements. Except as disclosed herein, there 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, 2021. Accordingly, the unaudited condensed consolidated financial statements and related disclosures herein should be read in conjunction with our 2021 Annual Report on Form 10-K. Significant accounting policies and other items disclosed in our Annual Report have been omitted from this report because they have not changed. The preparation of interim financial statements requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements. Specifically, we make estimates and assumptions in our unaudited 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. Recent Accounting Pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of Accounting Standards Updates (“ASU”) to the FASB Accounting Standards Codification (“ASC”). We consider the applicability and impact of all ASUs and have determined that any recently adopted accounting pronouncements did not have a material impact on our condensed consolidated financial statements. In September 2022, the FASB issued ASU 2022-04, Liabilities-Supplier Finance Programs. This standard requires disclosure of the key terms of outstanding supply chain finance programs and a rollforward of the related amounts due to vendors participating in these programs. The new standard does not affect the recognition, measurement or financial statement presentation of any amounts due. The guidance is effective in the first quarter of 2023, except for the rollforward, which is effective in the first quarter of 2024. Early adoption is permitted. We are evaluating the adoption of this new guidance. Debt 1.750% and 2.750% Senior Notes Offering On January 6, 2022, we issued $500 million of unsecured 1.750% Senior Notes due 2025. Simultaneously, we issued $500 million of unsecured 2.750% Senior Notes due 2032. For both offerings, interest is payable semi-annually on February 1 and August 1 of each year, beginning August 1, 2022. We utilized the proceeds from these offerings to repay borrowings under our Revolving Credit Facility, which were incurred to finance a significant portion of the Kaman Distribution Group ("KDG") acquisition. Derivatives and Hedging We are exposed to various risks arising from business operations and market conditions, including fluctuations in interest rates and certain foreign currencies. When deemed appropriate, we use 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 our earnings and cash flows associated with changes in these rates. 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. The following table summarizes the classification and carrying amounts of derivative instruments and the foreign currency denominated debt, a non-derivative financial instrument, that are designated and qualify as part of hedging relationships (in thousands): September 30, 2022 December 31, 2021 Instrument Balance Sheet Classification Notional Balance Notional Balance Net investment hedges: Forward contracts Prepaid expenses and other current assets $ 1,513,750 $ 261,813 $ 925,810 $ 73,819 Forward contract Other current liabilities $ — $ — $ 235,180 $ 2,935 Foreign currency debt Long-term debt € 700,000 $ 686,980 € 700,000 $ 792,820 The tables below present gains related to designated net investment hedges: Gain Recognized in AOCL before Reclassifications Gain Recognized in Interest Expense for Excluded Components (in thousands) 2022 2021 2022 2021 Three months ended September 30, Forward contracts $ 81,454 $ 20,958 $ 7,965 $ 6,574 Foreign currency debt 43,890 21,000 — — Total $ 125,344 $ 41,958 $ 7,965 $ 6,574 Gain Recognized in AOCL before Reclassifications Gain Recognized in Interest Expense for Excluded Components (in thousands) 2022 2021 2022 2021 Nine months ended September 30, Forward contracts $ 167,834 $ 45,143 $ 23,095 $ 19,722 Foreign currency debt 105,840 49,280 — — Total $ 273,674 $ 94,423 $ 23,095 $ 19,722 Fair Value of Financial Instruments As of September 30, 2022 the fair value of our senior unsecured notes was approximately $2.8 billion, which are designated as Level 2 in the fair value hierarchy. Our valuation technique is based primarily on prices and other relevant information generated by observable transactions involving identical or comparable assets or liabilities. Guarantees We guarantee the borrowings of certain independently controlled automotive parts stores and businesses (“independents”) and certain other affiliates in which we have a noncontrolling equity ownership interest (“affiliates”). While such borrowings of the independents and affiliates are outstanding, we are required to maintain compliance with certain covenants. At September 30, 2022, we were in compliance with all such covenants. As of September 30, 2022, the total borrowings of the independents and affiliates subject to guarantee by us were approximately $908 million. These loans generally mature over periods from one agencies of the independents and affiliates that participate in the guarantee programs. In the event that we are required to make payments in connection with these guarantees, we 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. We recognize 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, we have not had significant losses in connection with guarantees of independents’ and affiliates’ borrowings and the current expected credit loss reserve is not material. As of September 30, 2022, 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. As of September 30, 2022, we have recognized certain assets and liabilities amounting to $74 million each for the guarantees related to the independents’ and affiliates’ borrowings. These assets and liabilities are included in other assets and other long-term liabilities in the condensed consolidated balance sheets. The liabilities relate to our noncontingent obligation to stand ready to perform under the guarantee programs and they are distinct from our current expected credit loss reserve. Earnings Per Share We maintain 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. Certain outstanding options are not included in the diluted earnings per share calculation because their inclusion would have been anti-dilutive. The following table summarizes anti-dilutive shares outstanding: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Anti-dilutive shares outstanding 360 — 1,142 158

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information The following table presents a summary of our reportable segment financial information: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Net sales: Automotive $ 3,490,462 $ 3,204,534 $ 10,233,577 $ 9,353,998 Industrial 2,184,812 1,614,315 6,338,746 4,713,303 Total net sales $ 5,675,274 $ 4,818,849 $ 16,572,323 $ 14,067,301 Segment profit: Automotive $ 309,349 $ 281,150 $ 896,475 $ 807,586 Industrial 242,505 165,754 656,330 441,459 Total segment profit 551,854 446,904 1,552,805 1,249,045 Interest expense, net (18,220) (14,167) (58,318) (47,853) Intangible asset amortization (39,416) (25,311) (118,740) (78,239) Corporate expense (72,820) (47,389) (187,883) (130,029) Other unallocated (expenses) income (1) (3,462) (61,063) 47,355 (138,484) Income before income taxes $ 417,936 $ 298,974 $ 1,235,219 $ 854,440 (1) The following table presents a summary of the other unallocated income and expenses: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Other unallocated (expenses) income: Gain on sale of real estate (2) $ — $ — $ 102,803 $ — Gain on insurance proceeds (3) — — 1,507 — Product liability damages award (4) — — — (77,421) Loss on software disposal (5) — (61,063) — (61,063) Transaction and other costs (6) (3,462) — (56,955) — Total other unallocated (expenses) income $ (3,462) $ (61,063) $ 47,355 $ (138,484) (2) Amount reflects a gain on the sale of real estate that had been leased to S.P. Richards. (3) Amount reflects insurance recoveries in excess of losses incurred on inventory, property, plant and equipment and other fire-related costs. (4) Amount reflects damages reinstated by the Washington Supreme Court order on July 8, 2021 in connection with a 2017 automotive product liability claim. (5) Amount reflects a loss on an internally developed software project that was disposed of due to a change in management strategy related to advances in alternative technologies. (6) Amount primarily reflects costs associated with the January 3, 2022 acquisition and integration of KDG. These costs also include a $17 million impairment charge driven by a decision to retire certain legacy trade names, classified as other intangible assets, prior to the end of their estimated useful lives as part of executing our KDG integration and rebranding strategy. Refer to the acquisition footnote for more information regarding the acquisition. Net sales are disaggregated by geographical region for each of our reportable segments, as we deem this presentation best depicts how the nature, amount, timing and uncertainty of net sales and cash flows are affected by economic factors. The following table presents disaggregated geographical net sales from contracts with customers by reportable segment: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 North America: Automotive $ 2,333,390 $ 2,100,250 $ 6,766,271 $ 6,039,617 Industrial 2,064,569 1,493,618 5,996,299 4,362,792 Total North America $ 4,397,959 $ 3,593,868 $ 12,762,570 $ 10,402,409 Australasia: Automotive $ 404,708 $ 374,167 $ 1,182,557 $ 1,130,744 Industrial 120,243 120,697 342,447 350,511 Total Australasia $ 524,951 $ 494,864 $ 1,525,004 $ 1,481,255 Europe – Automotive $ 752,364 $ 730,117 $ 2,284,749 $ 2,183,637 Total net sales $ 5,675,274 $ 4,818,849 $ 16,572,323 $ 14,067,301

Accounts Receivable Sales Agree

Accounts Receivable Sales Agreement	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Accounts Receivable Sales Agreement	Accounts Receivable Sales Agreement Under our accounts receivable sales agreement (the "A/R Sales Agreement"), we continuously sell designated pools of receivables as they are originated by us and certain U.S. subsidiaries to a separate bankruptcy-remote special purpose entity (“SPE”). The A/R Sales Agreement has a three year term, which we intend to renew. We continue to be involved with the receivables transferred by the SPE to the unaffiliated financial institution by providing collection services. As cash is collected on sold receivables, the SPE continuously transfers ownership and control of new qualifying receivables to the unaffiliated financial institution so that the total principal amount outstanding of receivables sold is approximately $1 billion at any point in time (which is the maximum amount allowed under the agreement as amended on January 3, 2022). The total principal amount outstanding of receivables sold is approximately $1.0 billion and $800 million as of September 30, 2022 and December 31, 2021, respectively. The amount of receivables pledged as collateral as of September 30, 2022 and December 31, 2021 is approximately $1.1 billion and $973 million, respectively. The following table summarizes the activity and amounts outstanding under the A/R Sales Agreement as of: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Receivables sold to the financial institution and derecognized $ 2,281,934 $ 1,884,023 $ 6,760,652 $ 5,700,895 Cash collected on sold receivables $ 2,281,926 $ 1,884,028 $ 6,560,655 $ 5,700,896

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Net periodic benefit income from our pension plans included the following components for our pension benefits: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Service cost $ 2,532 $ 3,043 $ 7,734 $ 9,185 Interest cost 18,804 17,915 56,520 53,783 Expected return on plan assets (37,569) (38,755) (112,887) (116,345) Amortization of prior service cost 172 172 516 516 Amortization of actuarial loss 9,264 12,465 27,818 37,430 Net periodic benefit income $ (6,797) $ (5,160) $ (20,299) $ (15,431)

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions We acquired several businesses, including KDG, for approximately $1.6 billion, net of cash acquired, during the nine months ended September 30, 2022. For the nine months ended September 30, 2021, acquisitions totaled $143 million, net of cash acquired. During the nine months ended September 30, 2022, we recognized approximately $408 million and $818 million of revenue, net of store closures, related to our Automotive and Industrial acquisitions, respectively. The results of operations for acquired businesses are included in our condensed consolidated statements of income beginning on their respective acquisition dates. For each acquisition, we allocate the purchase price to the assets acquired and the liabilities assumed based on their fair values as of their respective acquisition dates. Excluding KDG, for the nine months ended September 30, 2022 and September 30, 2021, we recorded approximately $200 million and $97 million of goodwill and other intangible assets associated with acquisitions. Other intangible assets acquired consisted primarily of customer relationships with a weighted average amortization lives of 20 years. KDG Acquisition On January 3, 2022, we, through our wholly-owned subsidiary, Motion Industries, Inc., acquired all of the equity interests in KDG for a purchase price of approximately $1.3 billion in cash. KDG, which is headquartered in Bloomfield, Connecticut, is a power transmission, automation and fluid power industrial distributor and solutions provider with operations throughout the United States, providing electro-mechanical products, bearings, power transmission, motion control and electrical and fluid power components to MRO and OEM customers. KDG has approximately 1,700 employees with approximately 220 locations across the United States and Puerto Rico. As of January 3, 2022, KDG had estimated annual revenues of approximately $1 billion. The net cash consideration transferred of approximately $1.3 billion is net of the estimated cash acquired of approximately $30 million. The KDG acquisition was financed using a combination of borrowings under the existing unsecured revolving credit facility, proceeds of $200 million from the selling of additional receivables under our amended A/R Sales Agreement and $109 million of cash. The following table summarizes the preliminary, estimated fair values of the assets acquired and liabilities assumed at the acquisition date as well as adjustments made to the acquisition accounting during the nine months ended September 30, 2022 (referred to as the "measurement period adjustments"). The measurement period adjustments primarily resulted from revisions to the valuation of certain tangible and intangible assets. The fair value of the acquired identifiable intangible assets is provisional pending completion of the final valuations for these assets. We are in the process of analyzing the estimated values of all assets acquired and liabilities assumed as of the acquisition date, including, among other things, obtaining valuations of certain tangible and intangible assets, as well as the fair value of certain contracts and the determination of certain tax balances. Additional adjustments may be made to the acquisition accounting during the measurement period primarily related to intangible asset revaluations, tax accounting and leases. As of January 3, 2022 (in thousands) Initial Balance Measurement Period Adjustments As Adjusted Trade accounts receivable $ 156,000 $ — $ 156,000 Merchandise inventories 166,000 (1,000) 165,000 Prepaid expenses and other current assets 39,000 (2,000) 37,000 Property, plant and equipment 26,000 (2,000) 24,000 Operating lease assets 49,000 (5,000) 44,000 Other assets 1,000 — 1,000 Other intangible assets 574,000 (6,000) 568,000 Goodwill 592,000 4,000 596,000 Total assets acquired 1,603,000 (12,000) 1,591,000 Trade accounts payable 85,000 — 85,000 Other current liabilities 32,000 — 32,000 Operating lease liabilities 17,000 (1,000) 16,000 Deferred tax liabilities 121,000 (10,000) 111,000 Other long-term liabilities 39,000 (4,000) 35,000 Total liabilities assumed 294,000 (15,000) 279,000 Net assets acquired $ 1,309,000 $ 3,000 $ 1,312,000 The other intangible assets acquired included $527 million of customer relationship intangibles and a $41 million favorable trade name licensing agreement, with amortization lives of 17 and 1.5 years, respectively. The other intangible assets have a total weighted amortization life of 16 years. The goodwill was assigned to the Industrial segment and is attributable primarily to expected synergies and the assembled workforce. Approximately $261 million of the estimated goodwill recognized as part of the KDG acquisition is expected to be tax deductible. For the nine months ended September 30, 2022, approximately $5 million of inventory amortization step-up cost related to this acquisition was included in cost of goods sold. Further, $49 million of transaction and other one-time costs, inclusive of the impairment charge described below, were included in selling, administrative, and other expenses in the condensed consolidated statements of income. In June 2022, we incurred a $17 million non-cash impairment charge related to our decision to retire certain legacy Industrial trade names, classified as other intangible assets, prior to the end of their estimated useful lives as part of the KDG integration and rebranding strategy. We evaluate other intangible assets for potential impairment indicators annually or more frequently if circumstances change.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following tables present the changes in AOCL by component for the nine months ended September 30: Changes in Accumulated Other (in thousands) Pension and Other Post-Retirement Benefits Cash Flow Hedges Foreign Currency Translation Total Beginning balance, January 1, 2022 $ (463,227) $ (15,042) $ (379,470) $ (857,739) Other comprehensive loss before reclassifications — — (248,757) (248,757) Amounts reclassified from accumulated other comprehensive loss 20,957 11,223 — 32,180 Other comprehensive income (loss), net of income taxes 20,957 11,223 (248,757) (216,577) Ending balance, September 30, 2022 $ (442,270) $ (3,819) $ (628,227) $ (1,074,316) Changes in Accumulated Other (in thousands) Pension and Other Post-Retirement Benefits Cash Flow Hedges Foreign Currency Translation Total Beginning balance, January 1, 2021 $ (692,868) $ (30,007) $ (313,627) $ (1,036,502) Other comprehensive income before reclassifications — — (75,738) (75,738) Amounts reclassified from accumulated other comprehensive loss 27,931 11,223 — 39,154 Other comprehensive income, net of income taxes 27,931 11,223 (75,738) (36,584) Ending balance, September 30, 2021 $ (664,937) $ (18,784) $ (389,365) $ (1,073,086) The AOCL components related to the pension benefits are included in the computation of net periodic benefit income in the employee benefit plans footnote. Generally, tax effects in AOCL are established at the currently enacted tax rate and reclassified to net income in the same period that the related pre-tax AOCL reclassifications are recognized.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters From time to time, we are involved in various claims and legal actions that arise in the ordinary course of business. Although the results of litigation and claims cannot be predicted with certainty, we do not believe that the ultimate resolution of these actions will have a material adverse effect on our financial position, results of operations, liquidity and capital resources. There have been no significant developments to the information presented in our 2021 Annual Report on Form 10-K with respect to litigation or commitments and contingencies. Environmental Liabilities

General (Policies)

General (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and therefore do not include all information and footnotes required by accounting principles generally accepted in the U.S. (“U.S. GAAP”) for complete financial statements. Except as disclosed herein, there 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, 2021. Accordingly, the unaudited condensed consolidated financial statements and related disclosures herein should be read in conjunction with our 2021 Annual Report on Form 10-K. Significant accounting policies and other items disclosed in our Annual Report have been omitted from this report because they have not changed.
Use of Estimates	The preparation of interim financial statements requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements. Specifically, we make estimates and assumptions in our unaudited 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 our financial results for the interim periods have been made. These adjustments are of a normal recurring nature. We have 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 Accounting Standards Updates (“ASU”) to the FASB Accounting Standards Codification (“ASC”). We consider the applicability and impact of all ASUs and have determined that any recently adopted accounting pronouncements did not have a material impact on our condensed consolidated financial statements. In September 2022, the FASB issued ASU 2022-04, Liabilities-Supplier Finance Programs. This standard requires disclosure of the key terms of outstanding supply chain finance programs and a rollforward of the related amounts due to vendors participating in these programs. The new standard does not affect the recognition, measurement or financial statement presentation of any amounts due. The guidance is effective in the first quarter of 2023, except for the rollforward, which is effective in the first quarter of 2024. Early adoption is permitted. We are evaluating the adoption of this new guidance.
Derivatives and Hedging	We are exposed to various risks arising from business operations and market conditions, including fluctuations in interest rates and certain foreign currencies. When deemed appropriate, we use 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 our earnings and cash flows associated with changes in these rates. 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.
Guarantees	We guarantee the borrowings of certain independently controlled automotive parts stores and businesses (“independents”) and certain other affiliates in which we have a noncontrolling equity ownership interest (“affiliates”). While such borrowings of the independents and affiliates are outstanding, we are required to maintain compliance with certain covenants. At September 30, 2022, we were in compliance with all such covenants.As of September 30, 2022, 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.

General (Tables)

General (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Schedule of Derivative Instruments	The following table summarizes the classification and carrying amounts of derivative instruments and the foreign currency denominated debt, a non-derivative financial instrument, that are designated and qualify as part of hedging relationships (in thousands): September 30, 2022 December 31, 2021 Instrument Balance Sheet Classification Notional Balance Notional Balance Net investment hedges: Forward contracts Prepaid expenses and other current assets $ 1,513,750 $ 261,813 $ 925,810 $ 73,819 Forward contract Other current liabilities $ — $ — $ 235,180 $ 2,935 Foreign currency debt Long-term debt € 700,000 $ 686,980 € 700,000 $ 792,820
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The tables below present gains related to designated net investment hedges: Gain Recognized in AOCL before Reclassifications Gain Recognized in Interest Expense for Excluded Components (in thousands) 2022 2021 2022 2021 Three months ended September 30, Forward contracts $ 81,454 $ 20,958 $ 7,965 $ 6,574 Foreign currency debt 43,890 21,000 — — Total $ 125,344 $ 41,958 $ 7,965 $ 6,574 Gain Recognized in AOCL before Reclassifications Gain Recognized in Interest Expense for Excluded Components (in thousands) 2022 2021 2022 2021 Nine months ended September 30, Forward contracts $ 167,834 $ 45,143 $ 23,095 $ 19,722 Foreign currency debt 105,840 49,280 — — Total $ 273,674 $ 94,423 $ 23,095 $ 19,722
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes anti-dilutive shares outstanding: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Anti-dilutive shares outstanding 360 — 1,142 158

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Summary of Segment Information	The following table presents a summary of our reportable segment financial information: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Net sales: Automotive $ 3,490,462 $ 3,204,534 $ 10,233,577 $ 9,353,998 Industrial 2,184,812 1,614,315 6,338,746 4,713,303 Total net sales $ 5,675,274 $ 4,818,849 $ 16,572,323 $ 14,067,301 Segment profit: Automotive $ 309,349 $ 281,150 $ 896,475 $ 807,586 Industrial 242,505 165,754 656,330 441,459 Total segment profit 551,854 446,904 1,552,805 1,249,045 Interest expense, net (18,220) (14,167) (58,318) (47,853) Intangible asset amortization (39,416) (25,311) (118,740) (78,239) Corporate expense (72,820) (47,389) (187,883) (130,029) Other unallocated (expenses) income (1) (3,462) (61,063) 47,355 (138,484) Income before income taxes $ 417,936 $ 298,974 $ 1,235,219 $ 854,440 (1) The following table presents a summary of the other unallocated income and expenses: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Other unallocated (expenses) income: Gain on sale of real estate (2) $ — $ — $ 102,803 $ — Gain on insurance proceeds (3) — — 1,507 — Product liability damages award (4) — — — (77,421) Loss on software disposal (5) — (61,063) — (61,063) Transaction and other costs (6) (3,462) — (56,955) — Total other unallocated (expenses) income $ (3,462) $ (61,063) $ 47,355 $ (138,484) (2) Amount reflects a gain on the sale of real estate that had been leased to S.P. Richards. (3) Amount reflects insurance recoveries in excess of losses incurred on inventory, property, plant and equipment and other fire-related costs. (4) Amount reflects damages reinstated by the Washington Supreme Court order on July 8, 2021 in connection with a 2017 automotive product liability claim. (5) Amount reflects a loss on an internally developed software project that was disposed of due to a change in management strategy related to advances in alternative technologies. (6) Amount primarily reflects costs associated with the January 3, 2022 acquisition and integration of KDG. These costs also include a $17 million impairment charge driven by a decision to retire certain legacy trade names, classified as other intangible assets, prior to the end of their estimated useful lives as part of executing our KDG integration and rebranding strategy. Refer to the acquisition footnote for more information regarding the acquisition.
Revenue from External Customers by Geographic Areas	The following table presents disaggregated geographical net sales from contracts with customers by reportable segment: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 North America: Automotive $ 2,333,390 $ 2,100,250 $ 6,766,271 $ 6,039,617 Industrial 2,064,569 1,493,618 5,996,299 4,362,792 Total North America $ 4,397,959 $ 3,593,868 $ 12,762,570 $ 10,402,409 Australasia: Automotive $ 404,708 $ 374,167 $ 1,182,557 $ 1,130,744 Industrial 120,243 120,697 342,447 350,511 Total Australasia $ 524,951 $ 494,864 $ 1,525,004 $ 1,481,255 Europe – Automotive $ 752,364 $ 730,117 $ 2,284,749 $ 2,183,637 Total net sales $ 5,675,274 $ 4,818,849 $ 16,572,323 $ 14,067,301

Accounts Receivable Sales Agr_2

Accounts Receivable Sales Agreement (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables, Sales	The following table summarizes the activity and amounts outstanding under the A/R Sales Agreement as of: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Receivables sold to the financial institution and derecognized $ 2,281,934 $ 1,884,023 $ 6,760,652 $ 5,700,895 Cash collected on sold receivables $ 2,281,926 $ 1,884,028 $ 6,560,655 $ 5,700,896

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Income for the Pension Plans	Net periodic benefit income from our pension plans included the following components for our pension benefits: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Service cost $ 2,532 $ 3,043 $ 7,734 $ 9,185 Interest cost 18,804 17,915 56,520 53,783 Expected return on plan assets (37,569) (38,755) (112,887) (116,345) Amortization of prior service cost 172 172 516 516 Amortization of actuarial loss 9,264 12,465 27,818 37,430 Net periodic benefit income $ (6,797) $ (5,160) $ (20,299) $ (15,431)

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary, estimated fair values of the assets acquired and liabilities assumed at the acquisition date as well as adjustments made to the acquisition accounting during the nine months ended September 30, 2022 (referred to as the "measurement period adjustments"). The measurement period adjustments primarily resulted from revisions to the valuation of certain tangible and intangible assets. The fair value of the acquired identifiable intangible assets is provisional pending completion of the final valuations for these assets. We are in the process of analyzing the estimated values of all assets acquired and liabilities assumed as of the acquisition date, including, among other things, obtaining valuations of certain tangible and intangible assets, as well as the fair value of certain contracts and the determination of certain tax balances. Additional adjustments may be made to the acquisition accounting during the measurement period primarily related to intangible asset revaluations, tax accounting and leases. As of January 3, 2022 (in thousands) Initial Balance Measurement Period Adjustments As Adjusted Trade accounts receivable $ 156,000 $ — $ 156,000 Merchandise inventories 166,000 (1,000) 165,000 Prepaid expenses and other current assets 39,000 (2,000) 37,000 Property, plant and equipment 26,000 (2,000) 24,000 Operating lease assets 49,000 (5,000) 44,000 Other assets 1,000 — 1,000 Other intangible assets 574,000 (6,000) 568,000 Goodwill 592,000 4,000 596,000 Total assets acquired 1,603,000 (12,000) 1,591,000 Trade accounts payable 85,000 — 85,000 Other current liabilities 32,000 — 32,000 Operating lease liabilities 17,000 (1,000) 16,000 Deferred tax liabilities 121,000 (10,000) 111,000 Other long-term liabilities 39,000 (4,000) 35,000 Total liabilities assumed 294,000 (15,000) 279,000 Net assets acquired $ 1,309,000 $ 3,000 $ 1,312,000

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	The following tables present the changes in AOCL by component for the nine months ended September 30: Changes in Accumulated Other (in thousands) Pension and Other Post-Retirement Benefits Cash Flow Hedges Foreign Currency Translation Total Beginning balance, January 1, 2022 $ (463,227) $ (15,042) $ (379,470) $ (857,739) Other comprehensive loss before reclassifications — — (248,757) (248,757) Amounts reclassified from accumulated other comprehensive loss 20,957 11,223 — 32,180 Other comprehensive income (loss), net of income taxes 20,957 11,223 (248,757) (216,577) Ending balance, September 30, 2022 $ (442,270) $ (3,819) $ (628,227) $ (1,074,316) Changes in Accumulated Other (in thousands) Pension and Other Post-Retirement Benefits Cash Flow Hedges Foreign Currency Translation Total Beginning balance, January 1, 2021 $ (692,868) $ (30,007) $ (313,627) $ (1,036,502) Other comprehensive income before reclassifications — — (75,738) (75,738) Amounts reclassified from accumulated other comprehensive loss 27,931 11,223 — 39,154 Other comprehensive income, net of income taxes 27,931 11,223 (75,738) (36,584) Ending balance, September 30, 2021 $ (664,937) $ (18,784) $ (389,365) $ (1,073,086)

General - Debt (Details)

General - Debt (Details)	Jan. 06, 2022 USD ($)
Senior Notes Due 2025
Debt Instrument [Line Items]
Interest rate, stated percentage	1.75%
Debt instrument, face amount	$ 500,000,000
Senior Notes Due 2032
Debt Instrument [Line Items]
Interest rate, stated percentage	2.75%
Debt instrument, face amount	$ 500,000,000

General - Schedule of Location

General - Schedule of Location and Fair Value Amounts of Derivative Instruments (Details) - Net investment hedges - Designated as hedging relationship € in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Prepaid expenses and other current assets | Forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount			$ 1,513,750	$ 925,810
Derivative asset, balance			261,813	73,819
Other current liabilities | Forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount			0	235,180
Derivative liability, balance			0	2,935
Long-term debt | Foreign currency debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Nonderivative notional amount | €	€ 700,000	€ 700,000
Nonderivative balance			$ 686,980	$ 792,820

General - Schedule of (Losses)

General - Schedule of (Losses) Gains Related to Designated Cash Flow Hedges and Net Investment Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain Recognized in Interest Expense for Excluded Components	$ 7,965	$ 6,574	$ 23,095	$ 19,722
Gain Recognized in AOCL before Reclassifications	125,344	41,958	273,674	94,423
Forward contracts | Net investment hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain Recognized in AOCL before Reclassifications	81,454	20,958	167,834	45,143
Gain Recognized in Interest Expense for Excluded Components	7,965	6,574	23,095	19,722
Foreign currency debt | Net investment hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain Recognized in AOCL before Reclassifications	$ 43,890	$ 21,000	$ 105,840	$ 49,280

General - Fair Value of Financi

General - Fair Value of Financial Instruments (Details) $ in Billions	Sep. 30, 2022 USD ($)
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	$ 2.8

General - Guarantee (Details)

General - Guarantee (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Guarantor Obligations [Line Items]
Total borrowings of the independents and affiliates subject to guarantee	$ 908
Guarantor obligation, current carrying value	74
Guarantees related to borrowings, other assets	$ 74
Minimum
Guarantor Obligations [Line Items]
Guaranteed obligations maturity (in years)	1 year
Maximum
Guarantor Obligations [Line Items]
Guaranteed obligations maturity (in years)	6 years

General - Earning Per Share (De

General - Earning Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accounting Policies [Abstract]
Anti-dilutive shares outstanding (in shares)	360,000	0	1,142	158

Segment Information - Operating

Segment Information - Operating Results by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net sales	$ 5,675,274	$ 4,818,849	$ 16,572,323	$ 14,067,301
Income before income taxes	417,936	298,974	1,235,219	854,440
Operating Segments
Segment Reporting Information [Line Items]
Net sales	5,675,274	4,818,849	16,572,323	14,067,301
Operating profit	551,854	446,904	1,552,805	1,249,045
Operating Segments | Automotive
Segment Reporting Information [Line Items]
Net sales	3,490,462	3,204,534	10,233,577	9,353,998
Operating profit	309,349	281,150	896,475	807,586
Operating Segments | Industrial
Segment Reporting Information [Line Items]
Net sales	2,184,812	1,614,315	6,338,746	4,713,303
Operating profit	242,505	165,754	656,330	441,459
Other
Segment Reporting Information [Line Items]
Interest expense, net	(18,220)	(14,167)	(58,318)	(47,853)
Intangible asset amortization	(39,416)	(25,311)	(118,740)	(78,239)
Corporate expense	(72,820)	(47,389)	(187,883)	(130,029)
Other unallocated (expenses) income	$ (3,462)	$ (61,063)	$ 47,355	$ (138,484)

Segment Information - Summary o

Segment Information - Summary of Unallocated Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Gain on sale of real estate			$ 102,803	$ 0
Loss on software disposal			0	(61,063)
Intangible asset impairment			17,461	0
Other
Segment Reporting Information [Line Items]
Gain on sale of real estate	$ 0	$ 0	102,803	0
Gain on insurance proceeds	0	0	1,507	0
Product liability damages award	0	0	0	(77,421)
Loss on software disposal	0	(61,063)	0	(61,063)
Transaction and other costs	(3,462)	0	(56,955)	0
Total other unallocated (expenses) income	$ (3,462)	$ (61,063)	$ 47,355	$ (138,484)

Segment Information - Disaggreg

Segment Information - Disaggregated Geographical Revenue by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 5,675,274	$ 4,818,849	$ 16,572,323	$ 14,067,301
North America
Disaggregation of Revenue [Line Items]
Net sales	4,397,959	3,593,868	12,762,570	10,402,409
Australasia
Disaggregation of Revenue [Line Items]
Net sales	524,951	494,864	1,525,004	1,481,255
Automotive | North America
Disaggregation of Revenue [Line Items]
Net sales	2,333,390	2,100,250	6,766,271	6,039,617
Automotive | Australasia
Disaggregation of Revenue [Line Items]
Net sales	404,708	374,167	1,182,557	1,130,744
Automotive | Europe
Disaggregation of Revenue [Line Items]
Net sales	752,364	730,117	2,284,749	2,183,637
Industrial | North America
Disaggregation of Revenue [Line Items]
Net sales	2,064,569	1,493,618	5,996,299	4,362,792
Industrial | Australasia
Disaggregation of Revenue [Line Items]
Net sales	$ 120,243	$ 120,697	$ 342,447	$ 350,511

Accounts Receivable Sales Agr_3

Accounts Receivable Sales Agreement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Receivables [Abstract]
Sale agreement term			3 years
Sale agreement amount	$ 1,000,000		$ 1,000,000
Principal amount outstanding of receivables sold at period end			1,000,000		$ 800,000
Amount held as collateral	1,100,000		1,100,000		$ 973,000
Receivables sold to the financial institution and derecognized	2,281,934	$ 1,884,023	6,760,652	$ 5,700,895
Cash collected on sold receivables	$ 2,281,926	$ 1,884,028	$ 6,560,655	$ 5,700,896

Employee Benefit Plans - Compon

Employee Benefit Plans - Components of Net Periodic Benefit Income for the Pension Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Retirement Benefits [Abstract]
Service cost	$ 2,532	$ 3,043	$ 7,734	$ 9,185
Interest cost	18,804	17,915	56,520	53,783
Expected return on plan assets	(37,569)	(38,755)	(112,887)	(116,345)
Amortization of prior service cost	172	172	516	516
Amortization of actuarial loss	9,264	12,465	27,818	37,430
Net periodic benefit income	$ (6,797)	$ (5,160)	$ (20,299)	$ (15,431)

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 03, 2022 USD ($) employee location	Jun. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Payments to acquire businesses, net					$ 1,600,000	$ 143,000
Business combination, goodwill and other intangible assets			$ 200,000	$ 97,000	$ 200,000	97,000
Weighted average amortization lives (in years)					20 years
Net sales			5,675,274	$ 4,818,849	$ 16,572,323	14,067,301
Principal amount outstanding of receivables sold at period end					1,000,000		$ 800,000
Intangible asset impairment					17,461	$ 0
Automotive
Business Acquisition [Line Items]
Pro forma revenue					408,000
Industrial
Business Acquisition [Line Items]
Pro forma revenue					818,000
KDG
Business Acquisition [Line Items]
Consideration transferred	$ 1,300,000
Number of employees | employee	1,700
Number of locations | location	220
Net sales	$ 1,000,000
Cash acquired from acquisition	30,000
Principal amount outstanding of receivables sold at period end	200,000
Payments to acquire businesses	109,000
Other intangible assets	574		$ 568		568
Goodwill, expected to be tax deductible	$ 261,000
Inventory amortization step-up costs					5,000
Transaction costs					$ 49,000
Intangible asset impairment		$ 17,000
KDG | Customer Relationships
Business Acquisition [Line Items]
Weighted average amortization lives (in years)	17 years
Other intangible assets	$ 527,000
KDG | Trade Names
Business Acquisition [Line Items]
Weighted average amortization lives (in years)	1 year 6 months
Other intangible assets	$ 41,000
KDG | Other Intangible Assets
Business Acquisition [Line Items]
Weighted average amortization lives (in years)	16 years

Acquisitions - Schedule of Asse

Acquisitions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Jan. 03, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 2,460,911		$ 1,915,307
KDG
Business Acquisition [Line Items]
Trade accounts receivable	156	$ 156
Measurement period adjustments, trade accounts receivable	0
Merchandise inventories	165	166
Measurement period adjustments, merchandise inventories	(1)
Prepaid expenses and other current assets	37	39
Measurement period adjustments, prepaid expenses and other current assets	(2)
Property, plant and equipment	24	26
Measurement period adjustments, property, plant, and equipment	(2)
Operating lease assets	44	49
Measurement period adjustments, operating lease assets	(5)
Other assets	1	1
Measurement period adjustments, other assets	0
Other intangible assets	568	574
Measurement period adjustments, other intangibles	(6)
Goodwill	596	592
Measurement period adjustments, goodwill	4
Total assets acquired	1,591	1,603
Measurement period adjustments, total identifiable assets acquired	(12)
Trade accounts payable	85	85
Measurement period adjustments, trade accounts payable	0
Other current liabilities	32	32
Measurement period adjustments, other current liabilities	0
Operating lease liabilities	16	17
Measurement period adjustments, operating lease liabilities	(1)
Deferred tax liabilities	111	121
Measurement period adjustments, deferred tax liabilities	(10)
Other long-term liabilities	35	39
Measurement period adjustments, other long-term liabilities	(4)
Total liabilities assumed	279	294
Measurement period adjustments, total liabilities assumed	(15)
Net assets acquired	1,312	$ 1,309
Measurement period adjustments, net assets acquired	$ 3

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive (Loss) by Component (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
AOCI Attributable to Parent [Roll Forward]
Beginning balance	$ 3,503,290	$ 3,218,003
Other comprehensive loss before reclassifications	(248,757)	(75,738)
Amounts reclassified from accumulated other comprehensive loss	32,180	39,154
Other comprehensive income (loss), net of income taxes	(216,577)	(36,584)
Ending balance	3,678,192	3,196,558
Total
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(857,739)	(1,036,502)
Ending balance	(1,074,316)	(1,073,086)
Pension and Other Post-Retirement Benefits
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(463,227)	(692,868)
Other comprehensive loss before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss	20,957	27,931
Other comprehensive income (loss), net of income taxes	20,957	27,931
Ending balance	(442,270)	(664,937)
Cash Flow Hedges
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(15,042)	(30,007)
Other comprehensive loss before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss	11,223	11,223
Other comprehensive income (loss), net of income taxes	11,223	11,223
Ending balance	(3,819)	(18,784)
Foreign Currency Translation
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(379,470)	(313,627)
Other comprehensive loss before reclassifications	(248,757)	(75,738)
Amounts reclassified from accumulated other comprehensive loss	0	0
Other comprehensive income (loss), net of income taxes	(248,757)	(75,738)
Ending balance	$ (628,227)	$ (389,365)

Uncategorized Items - gpc-20220

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2019-12 [Member]