Genuine Parts (GPC) 10-Q 7 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014
Document And Entity Information [Abstract]	'
Document Type	'10-Q
Amendment Flag	'false
Document Period End Date	31-Mar-14
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q1
Entity Registrant Name	'GENUINE PARTS CO
Entity Central Index Key	'0000040987
Current Fiscal Year End Date	'--12-31
Entity Filer Category	'Large Accelerated Filer
Entity Common Stock, Shares Outstanding	153,604,136

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS:	'	'
Cash and cash equivalents	$103,472	$196,893
Trade accounts receivable, less allowance for doubtful accounts (2014 - $15,474; 2013 - $14,423)	1,828,309	1,664,819
Merchandise inventories, net - at lower of cost or market	2,974,306	2,946,021
Prepaid expenses and other current assets	440,344	413,758
TOTAL CURRENT ASSETS	5,346,431	5,221,491
Goodwill	848,682	789,971
Other intangible assets, less accumulated amortization	561,130	499,385
Deferred tax assets	92,539	97,555
Other assets	468,903	401,834
Property, plant and equipment, less allowance for depreciation (2014 - $833,310; 2013 - $807,436)	664,689	670,061
TOTAL ASSETS	7,982,374	7,680,297
CURRENT LIABILITIES:	'	'
Trade accounts payable	2,335,327	2,269,671
Current portion of debt	399,756	264,658
Dividends payable	88,421	82,746
Income taxes payable	76,682	9,237
Other current liabilities	522,552	556,732
TOTAL CURRENT LIABILITIES	3,422,738	3,183,044
Long-term debt	500,000	500,000
Pension and other post-retirement benefit liabilities	137,638	140,171
Deferred tax liabilities	87,726	83,316
Other long-term liabilities	423,063	414,998
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 - 2014 - 153,604,136; 2013 - 153,773,098	153,604	153,773
Additional paid-in capital	17,278	14,935
Retained earnings	3,624,642	3,578,021
Accumulated other comprehensive loss	-393,762	-397,655
TOTAL PARENT EQUITY	3,401,762	3,349,074
Noncontrolling interests in subsidiaries	9,447	9,694
TOTAL EQUITY	3,411,209	3,358,768
TOTAL LIABILITIES AND EQUITY	$7,982,374	$7,680,297

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Statement Of Financial Position [Abstract]	'	'
Allowance for doubtful accounts receivable	$15,474	$14,423
Allowance for depreciation, property, plant and equipment	$833,310	$807,436
Preferred stock, par value	$1	$1
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$1	$1
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	153,604,136	153,773,098

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income and Comprehensive Income (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Income Statement [Abstract]	'	'
Net sales	$3,624,897	$3,198,802
Cost of goods sold	2,540,267	2,277,054
Gross profit	1,084,630	921,748
Operating expenses:	'	'
Selling, administrative, and other expenses	803,802	673,612
Depreciation and amortization	36,856	25,999
Total operating expenses	840,658	699,611
Income before income taxes	243,972	222,137
Income taxes	86,488	77,748
Net income	157,484	144,389
Basic net income per common share	$1.02	$0.93
Diluted net income per common share	$1.02	$0.93
Dividends declared per common share	$0.57	$0.54
Weighted average common shares outstanding	153,729	154,891
Dilutive effect of stock options and non-vested restricted stock awards	1,067	1,040
Weighted average common shares outstanding - assuming dilution	154,796	155,931
Comprehensive income	$161,377	$147,947

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
OPERATING ACTIVITIES:	'	'
Net income	$157,484	$144,389
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	36,856	25,999
Share-based compensation	3,073	2,477
Excess tax benefits from share-based compensation	-4,106	-3,840
Other	13	-67
Changes in operating assets and liabilities	-133,541	-52,580
NET CASH PROVIDED BY OPERATING ACTIVITIES	59,779	116,378
INVESTING ACTIVITIES:	'	'
Purchases of property, plant and equipment	-18,387	-12,924
Acquisitions and other investing activities	-156,853	-6,745
NET CASH USED IN INVESTING ACTIVITIES	-175,240	-19,669
FINANCING ACTIVITIES:	'	'
Proceeds from debt	740,012	439,742
Payments on debt	-610,604	-25,000
Share-based awards exercised, net of taxes paid	-4,736	-4,425
Excess tax benefits from share-based compensation	4,106	3,840
Dividends paid	-82,750	-76,641
Purchase of stock	-22,709	-110
NET CASH PROVIDED BY FINANCING ACTIVITIES	23,319	337,406
EFFECT OF EXCHANGE RATE CHANGES ON CASH	-1,279	4,684
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	-93,421	438,799
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	196,893	403,095
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$103,472	$841,894

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	Note A – Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and therefore do not include all information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. Except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements included in the Annual Report on Form 10-K of Genuine Parts Company (the “Company”) for the year ended December 31, 2013. Accordingly, the unaudited interim condensed consolidated financial statements and related disclosures herein should be read in conjunction with the Company’s 2013 Annual Report on Form 10-K.
	The preparation of interim financial statements requires management to make estimates and assumptions for the amounts reported in the condensed consolidated financial statements. Specifically, the Company makes estimates and assumptions in its interim condensed consolidated financial statements for inventory adjustments, the accrual of bad debts, customer sales returns, and volume incentives earned, among others. Inventory adjustments (including adjustments for a majority of inventories that are valued under the last-in, first-out (“LIFO”) method) are accrued on an interim basis and adjusted in the fourth quarter based on the annual book to physical inventory adjustment and LIFO valuation, which is performed each year-end. Reserves for bad debts are estimated and accrued based on a percentage of sales. Customer sales returns are estimated and accrued on an interim basis based upon historical sales and returns. Volume incentives are estimated based upon cumulative and projected purchasing levels. The estimates and assumptions for interim reporting may change upon final determination at year-end, and such changes may be significant.
	In the opinion of management, all adjustments necessary for a fair presentation of the Company’s financial results for the interim periods have been made. These adjustments are of a normal recurring nature. The results of operations for the three month period ended March 31, 2014 are not necessarily indicative of results for the entire year. The Company has evaluated subsequent events through the date the financial statements covered by this quarterly report were issued.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment Information	'
	Note B – Segment Information
		Three Months Ended March 31,
		2014			2013
		(in thousands)
	Net sales:
	Automotive	$	1,898,515		$	1,544,537
	Industrial		1,143,274			1,102,080
	Office products		418,098			420,128
	Electrical/electronic materials		180,331			139,185
	Other		(15,321	)		(7,128	)
	Total net sales	$	3,624,897		$	3,198,802
	Operating profit:
	Automotive	$	150,110		$	121,043
	Industrial		83,050			78,895
	Office products		33,946			33,192
	Electrical/electronic materials		15,529			10,451
	Total operating profit		282,635			243,581
	Interest expense, net		(6,206	)		(3,353	)
	Other intangible assets amortization		(8,876	)		(3,775	)
	Other, net		(23,581	)		(14,316	)
	Income before income taxes	$	243,972		$	222,137
	Net sales by segment exclude the effect of certain discounts, incentives and freight billed to customers. The line item “Other” represents the net effect of the discounts, incentives and freight billed to customers, which is reported as a component of net sales in the Company’s condensed consolidated statements of income and comprehensive income.

Other_Comprehensive_Income

Other Comprehensive Income	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Other Comprehensive Income	'
	Note C – Other Comprehensive Income
	The difference between comprehensive income and net income was due to foreign currency translation adjustments and pension and other post-retirement benefit adjustments, as summarized below.
		Three Months Ended
		March 31,
		2014			2013
		(in thousands)
	Net income	$	157,484		$	144,389
	Other comprehensive income:
	Foreign currency translation		102			(8,220	)
	Pension and other post-retirement benefit adjustments:
	Recognition of prior service credit, net of tax		(487	)		(1,323	)
	Recognition of actuarial loss, net of tax		4,278			13,101
	Total other comprehensive income		3,893			3,558
	Comprehensive income	$	161,377		$	147,947
	The following tables present the changes in accumulated other comprehensive (loss) income by component for the three months ended March 31:
		2014
		Changes in Accumulated Other
		Comprehensive (Loss) Income by Component
		Pension and			Foreign			Total
		Other Post-			Currency
		Retirement			Translation
		Benefits
		(in thousands)
	Beginning balance, January 1	$	(360,036	)	$	(37,619	)	$	(397,655	)
	Other comprehensive income before reclassifications, net of tax		—			102			102
	Amounts reclassified from accumulated other comprehensive (loss) income, net of tax		3,791			—			3,791
	Net current period other comprehensive income		3,791			102			3,893
	Ending balance, March 31	$	(356,245	)	$	(37,517	)	$	(393,762	)
		2013
		Changes in Accumulated Other
		Comprehensive (Loss) Income by Component
		Pension and			Foreign			Total
		Other Post-			Currency
		Retirement			Items
		Benefits
		(in thousands)
	Beginning balance, January 1	$	(632,576	)	$	131,084		$	(501,492	)
	Other comprehensive loss before reclassifications, net of tax		—			(8,220	)		(8,220	)
	Amounts reclassified from accumulated other comprehensive (loss) income, net of tax		11,778			—			11,778
	Net current period other comprehensive income (loss)		11,778			(8,220	)		3,558
	Ending balance, March 31	$	(620,798	)	$	122,864		$	(497,934	)
	The accumulated other comprehensive (loss) income components related to the pension benefits are included in the computation of net periodic benefit (income) cost in the employee benefit plans footnote.

ShareBased_Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Share-Based Compensation	'
	Note D – Share-Based Compensation
	As more fully discussed in Note 5 of the Company’s notes to the consolidated financial statements in its 2013 Annual Report on Form 10-K, the Company maintains various long-term incentive plans, which provide for the granting of stock options, stock appreciation rights (“SARs”), restricted stock, restricted stock units (“RSUs”), performance awards, dividend equivalents and other share-based awards. SARs represent a right to receive upon exercise an amount, payable in shares of common stock, equal to the excess, if any, of the fair market value of the Company’s common stock on the date of exercise over the base value of the grant. The terms of such SARs require net settlement in shares of common stock and do not provide for cash settlement. RSUs represent a contingent right to receive one share of the Company’s common stock at a future date. The majority of awards previously granted vest on a pro-rata basis for periods ranging from one to five years and are expensed accordingly on a straight-line basis. The Company issues new shares upon exercise or conversion of awards under these plans. Most awards may be exercised or converted to shares not earlier than twelve months nor later than ten years from the date of grant. At March 31, 2014, total compensation cost related to nonvested awards not yet recognized was approximately $19.0 million, as compared to $26.0 million at December 31, 2013. The weighted-average period over which this compensation cost is expected to be recognized is approximately three years. The aggregate intrinsic value for SARs and RSUs outstanding at March 31, 2014 was approximately $151.4 million. At March 31, 2014, the aggregate intrinsic value for SARs and RSUs vested totaled approximately $89.3 million, and the weighted-average contractual life for outstanding and exercisable SARs and RSUs was approximately six and five years, respectively. For the three months ended March 31, 2014, $3.1 million of share-based compensation cost was recorded, as compared to $2.5 million for the same period in the prior year. On April 1, 2014, the Company granted approximately 680,000 SARs and 165,000 RSUs.

Employee_Benefit_Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2014
Compensation And Retirement Disclosure [Abstract]	'
Employee Benefit Plans	'
	Note E – Employee Benefit Plans
	Net periodic benefit (income) cost for the pension plans included the following components for the three months ended March 31:
		2014			2013
		(in thousands)
	Service cost	$	1,909		$	4,976
	Interest cost		25,502			22,407
	Expected return on plan assets		(36,197	)		(33,518	)
	Amortization of prior service credit		(464	)		(1,894	)
	Amortization of actuarial loss		6,595			21,112
	Net periodic benefit (income) cost	$	(2,655	)	$	13,083
	Pension benefits also include amounts related to a supplemental retirement plan. During the three months ended March 31, 2014, the Company made a $38.7 million contribution to the pension plan.

Guarantees

Guarantees	3 Months Ended
	Mar. 31, 2014
Guarantees [Abstract]	'
Guarantees	'
	Note F – Guarantees
	The Company guarantees the borrowings of certain independently controlled automotive parts stores (“independents”) and certain other affiliates in which the Company has a noncontrolling equity ownership interest (“affiliates”). Presently, the independents are generally consolidated by unaffiliated enterprises that have a controlling financial interest through ownership of a majority voting interest in the independent. 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 guarantee. 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 entity’s economic performance including, but not limited to, decisions about hiring and terminating personnel, local marketing and promotional initiatives, pricing and selling activities, credit decisions, monitoring and maintaining appropriate inventories, and store hours. Separately, the Company concluded the affiliates are not variable interest entities. The Company’s maximum exposure to loss as a result of its involvement with these independents and affiliates is generally equal to the total borrowings subject to the Company’s guarantee. While such borrowings of the independents and affiliates are outstanding, the Company is required to maintain compliance with certain covenants, including a maximum debt to capitalization ratio and certain limitations on additional borrowings. At March 31, 2014, the Company was in compliance with all such covenants.
	At March 31, 2014, the total borrowings of the independents and affiliates subject to guarantee by the Company were approximately $262.6 million. These loans generally mature over periods from one to six years. In the event that the Company is required to make payments in connection with guaranteed obligations of the independents or the affiliates, the Company would obtain and liquidate certain collateral (e.g., accounts receivable and inventory) to recover all or a portion of the amounts paid under the guarantee. When it is deemed probable that the Company will incur a loss in connection with a guarantee, a liability is recorded equal to this estimated loss. To date, the Company has had no significant losses in connection with guarantees of independents’ and affiliates’ borrowings.
	The Company has accrued for guarantees related to the independents’ and affiliates’ borrowings as of March 31, 2014. These liabilities are not material to the financial position of the Company and are included in “Other long-term liabilities” in the accompanying condensed consolidated balance sheets.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value of Financial Instruments	'
	Note G – Fair Value of Financial Instruments
	The carrying amounts reflected in the condensed consolidated balance sheets for cash and cash equivalents, trade accounts receivable, trade accounts payable, and borrowings under the line of credit approximate their respective fair values based on the short-term nature of these instruments. At March 31, 2014, the carrying value and the fair value of fixed rate debt were approximately $500.0 million and $498.0 million, respectively. The fair value of fixed rate debt is designated as Level 2 in the fair value hierarchy (i.e., significant observable inputs) and is based primarily on the discounted value of future cash flows using current market interest rates offered for debt of similar credit risk and maturity. The carrying value of the fixed rate debt is included in “Long-term debt” in the accompanying condensed consolidated balance sheet.

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Summary of Segment Information	'
		Three Months Ended March 31,
		2014			2013
		(in thousands)
	Net sales:
	Automotive	$	1,898,515		$	1,544,537
	Industrial		1,143,274			1,102,080
	Office products		418,098			420,128
	Electrical/electronic materials		180,331			139,185
	Other		(15,321	)		(7,128	)
	Total net sales	$	3,624,897		$	3,198,802
	Operating profit:
	Automotive	$	150,110		$	121,043
	Industrial		83,050			78,895
	Office products		33,946			33,192
	Electrical/electronic materials		15,529			10,451
	Total operating profit		282,635			243,581
	Interest expense, net		(6,206	)		(3,353	)
	Other intangible assets amortization		(8,876	)		(3,775	)
	Other, net		(23,581	)		(14,316	)
	Income before income taxes	$	243,972		$	222,137

Other_Comprehensive_Income_Tab

Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Comprehensive Income	'
	The difference between comprehensive income and net income was due to foreign currency translation adjustments and pension and other post-retirement benefit adjustments, as summarized below.
		Three Months Ended
		March 31,
		2014			2013
		(in thousands)
	Net income	$	157,484		$	144,389
	Other comprehensive income:
	Foreign currency translation		102			(8,220	)
	Pension and other post-retirement benefit adjustments:
	Recognition of prior service credit, net of tax		(487	)		(1,323	)
	Recognition of actuarial loss, net of tax		4,278			13,101
	Total other comprehensive income		3,893			3,558
	Comprehensive income	$	161,377		$	147,947
Changes in Accumulated Other Comprehensive (Loss) Income by Component	'
	The following tables present the changes in accumulated other comprehensive (loss) income by component for the three months ended March 31:
		2014
		Changes in Accumulated Other
		Comprehensive (Loss) Income by Component
		Pension and			Foreign			Total
		Other Post-			Currency
		Retirement			Translation
		Benefits
		(in thousands)
	Beginning balance, January 1	$	(360,036	)	$	(37,619	)	$	(397,655	)
	Other comprehensive income before reclassifications, net of tax		—			102			102
	Amounts reclassified from accumulated other comprehensive (loss) income, net of tax		3,791			—			3,791
	Net current period other comprehensive income		3,791			102			3,893
	Ending balance, March 31	$	(356,245	)	$	(37,517	)	$	(393,762	)
		2013
		Changes in Accumulated Other
		Comprehensive (Loss) Income by Component
		Pension and			Foreign			Total
		Other Post-			Currency
		Retirement			Items
		Benefits
		(in thousands)
	Beginning balance, January 1	$	(632,576	)	$	131,084		$	(501,492	)
	Other comprehensive loss before reclassifications, net of tax		—			(8,220	)		(8,220	)
	Amounts reclassified from accumulated other comprehensive (loss) income, net of tax		11,778			—			11,778
	Net current period other comprehensive income (loss)		11,778			(8,220	)		3,558
	Ending balance, March 31	$	(620,798	)	$	122,864		$	(497,934	)

Employee_Benefit_Plans_Tables

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2014
Compensation And Retirement Disclosure [Abstract]	'
Components of Net Periodic Benefit (Income) Cost for the Pension Plans	'
	Net periodic benefit (income) cost for the pension plans included the following components for the three months ended March 31:
		2014			2013
		(in thousands)
	Service cost	$	1,909		$	4,976
	Interest cost		25,502			22,407
	Expected return on plan assets		(36,197	)		(33,518	)
	Amortization of prior service credit		(464	)		(1,894	)
	Amortization of actuarial loss		6,595			21,112
	Net periodic benefit (income) cost	$	(2,655	)	$	13,083

Segment_Information_Summary_of

Segment Information - Summary of Segment Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'
Total net sales	$3,624,897	$3,198,802
Total operating profit	282,635	243,581
Interest expense, net	-6,206	-3,353
Other intangible assets amortization	-8,876	-3,775
Other, net	-23,581	-14,316
Income before income taxes	243,972	222,137
Automotive [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Total net sales	1,898,515	1,544,537
Total operating profit	150,110	121,043
Industrial [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Total net sales	1,143,274	1,102,080
Total operating profit	83,050	78,895
Office Products [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Total net sales	418,098	420,128
Total operating profit	33,946	33,192
Electrical/Electronic Materials [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Total net sales	180,331	139,185
Total operating profit	15,529	10,451
Other [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Total net sales	($15,321)	($7,128)

Other_Comprehensive_Income_Com

Other Comprehensive Income - Comprehensive Income (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Equity [Abstract]	'	'
Net income	$157,484	$144,389
Other comprehensive income:	'	'
Foreign currency translation	102	-8,220
Pension and other post-retirement benefit adjustments:	'	'
Recognition of prior service credit, net of tax	-487	-1,323
Recognition of actuarial loss, net of tax	4,278	13,101
Net current period other comprehensive income (loss)	3,893	3,558
Comprehensive income	$161,377	$147,947

Other_Comprehensive_Income_Cha

Other Comprehensive Income - Changes in Accumulated Other Comprehensive (Loss) Income by Component (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Beginning balance	($397,655)	($501,492)
Other comprehensive income (loss) before reclassifications, net of tax	102	-8,220
Amounts reclassified from accumulated other comprehensive (loss) income, net of tax	3,791	11,778
Net current period other comprehensive income (loss)	3,893	3,558
Ending balance	-393,762	-497,934
Pension and Other Post-Retirement Benefits [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Beginning balance	-360,036	-632,576
Amounts reclassified from accumulated other comprehensive (loss) income, net of tax	3,791	11,778
Net current period other comprehensive income (loss)	3,791	11,778
Ending balance	-356,245	-620,798
Foreign Currency Translation [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Beginning balance	-37,619	131,084
Other comprehensive income (loss) before reclassifications, net of tax	102	-8,220
Net current period other comprehensive income (loss)	102	-8,220
Ending balance	($37,517)	$122,864

ShareBased_Compensation_Additi

Share-Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended			0 Months Ended		3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Apr. 02, 2014	Apr. 02, 2014	Mar. 31, 2014	Mar. 31, 2014
				Stock Appreciation Rights [Member]	Restricted Stock Units [Member]	Minimum [Member]	Maximum [Member]
				Subsequent Event [Member]	Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'	'
Share-based payment award granted vesting period range	'	'	'	'	'	'1 year	'5 years
Share-based payment, awards exercise	'	'	'	'	'	'12 months	'10 years
Total compensation cost related to nonvested awards, unrecognized	$19	'	$26	'	'	'	'
Weighted-average period to recognize compensation cost (in years)	'3 years	'	'	'	'	'	'
Aggregate intrinsic value for outstanding SARs and RSUs	151.4	'	'	'	'	'	'
Aggregate intrinsic value for vested SARs and RSUs	89.3	'	'	'	'	'	'
Weighted-average remaining contractual life for outstanding SARs and RSUs, in years	'6 years	'	'	'	'	'	'
Weighted-average remaining contractual life for exercisable SARs and RSUs, in years	'5 years	'	'	'	'	'	'
Share-based compensation	$3.10	$2.50	'	'	'	'	'
Granted, Shares	'	'	'	680,000	165,000	'	'

Employee_Benefit_Plans_Compone

Employee Benefit Plans - Components of Net Periodic Benefit (Income) Cost for the Pension Plans (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Compensation And Retirement Disclosure [Abstract]	'	'
Service cost	$1,909	$4,976
Interest cost	25,502	22,407
Expected return on plan assets	-36,197	-33,518
Amortization of prior service credit	-464	-1,894
Amortization of actuarial loss	6,595	21,112
Net periodic benefit (income) cost	($2,655)	$13,083

Employee_Benefit_Plans_Additio

Employee Benefit Plans - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Compensation And Retirement Disclosure [Abstract]	'
Contribution to the pension plan	$38.70

Guarantees_Additional_Informat

Guarantees - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Guarantor Obligations [Line Items]	'
Total borrowings of the independents and affiliates	262.6
Minimum [Member]	'
Guarantor Obligations [Line Items]	'
Guaranteed obligations maturity	'1 year
Maximum [Member]	'
Guarantor Obligations [Line Items]	'
Guaranteed obligations maturity	'6 years

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments - Additional Information (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'	'
Carrying value of fixed rate debt	$500,000,000	$500,000,000
Fair value of fixed rate debt	$498,000,000	'