then a for our and begin you, Thank discuss information XXXX. key of our We'll outlook review financial Paul. with
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in our related of adjusted the Before would have the or fourth the quarter and impact AAG the acquisition basis gross margin purchase increase. accounting XX XX.X% been cost, point
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XXXX, for in a well in at segments the year. as somewhat as focused Looking and businesses. including ongoing globally more sophisticated environment both initiatives continued capabilities negotiations enhancing our gross key pricing business across strategies to slight We SKU remained investment supplier The pricing and our analytic experienced several inflationary we on around margins XXXX and improved profitability. with through inflation of least flexible our each
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savings cuts advantage considering our we're XXXX tax related accelerated addition, In of investments tax in to take to job. projected the and certain
that process confident our long-term impact on fourth overall of SG&A of automotive to profit in our year expect by $XXX for compared results of XX X.XXXXXXXXXX quarter is XX.X% revenue segment, million We'll our with the XXXX. in percent profitability. quarter fourth now as and was X.X% to we're pressure We margin but the the to some of prior at this the percent X.X operating the an degree discuss positive from our operating
it's Excluding increase is basis-points decrease quarter would been sales a operating the operating margin in or or AAG, an much core the fourth third margin. This in we XXX-basis have profit the XX year-over-year improvement been X.X% fourth $XXX reported X.X% a automotive quarter. have and quarter would X.X improved from X.X% percent reflecting X.X million from XXXX our and points
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year product from last is revenues million margin down operating Our their and operating business $XXX of XX% and were X.X%. X% million profit down $XX is
continued $XXX group earlier, evaluate the The teams under as on $XX.X FBS for XX% and segment profit from industry further outlook This XXXX. the remains for our up sales X.X%. margin as down business, our the this million group market. discussed the of product million X% challenges the growth focused reflects remain into mix quarter due electrical Their well of the pressure shift. as customer Paul electronic and is we and to As decline growing this diversification in sales operating organic were the this is lack facing ongoing
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operating With due AAG expect and this up million associated primarily net the improved $XX expense of million quarter XXXX. in with to million increase one for debt the $XX to in mind, look which to of $XX.X in that quarter build $XX.X forward. range acquisition. fourth interest will in we our net we the performance had be million to in the We us is expense much So for going interest the on
for was to due expense last the fourth $XX $XX.X related AAG. is increase an amortization the the which year amortization million quarter total Our to million from
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be XXXX, to in $XXX projecting For to million our the million. corporate range $XXX we're expense of
XX.X% as Cuts as Our to Tax transaction reflects related which tax tax revaluation fourth required well Jobs deferred liabilities expense foreign was the $XX provisional enacted rate Act by for in earnings XXXX. million tax in the assets tax quarter on the and of as was the and
of from approximately compensation. would impact for related well mix costs income two favorable AAG earnings in in and for the of improved well of XX%. the have and as change foreign expense due as to rate XX.X% Excluding the this acquisition, tax has accounting operation for any our months This been transaction of the US tax that stock-based as rate XXXX the
we shift rate. as further operations, with benefit associated of federal US XXXX, AAG well in foreign year expect tax full as earnings For reform the the on the of our US and estimated
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sheet, excluding and excellent the it's sales in our from impact the of billion of So the the $X.X fourth year XX% pleased as prior acquisitions, X% quality quarter increase remain This which primarily with up AAG compares currency. balance X.X% we as turning to now receivable foreign receivables. well remains X% is to condition. Accounts and strong up increase and our our in at
we and with inventory At are AP XX% ratio was in flat XX%. XX acquisitions by forward. as the up activity appropriate currency. December of AAG, currency. other XXXX, the total our year payable maintaining was as foreign is other very inventory move basically improved investment on our focused and We're reflects of at year-end $X.X lower benefit payment billion XX% this certain excluding The levels up acquisitions to increase of $X.X at prior AAG, foreign key purchasing during businesses at and X% as up Accounts X% suppliers. Our well year December XX the billion the our part the offset terms across latter excluding from of
compares of improvement at ongoing an in Our to for see XXXX. working billion and priority additional our $X.X billion. is working Effectively XX AAG is $X.X $X.X and December we us XXXX in for managing capital capital excluding opportunities billion
at of to Our reflects compares XXXX the total outstanding XX acquisition. the fourth related $X.X borrowings to the $XXX million an December billion billion debt in in and in $X same quarter approximate AAG
and a to varying Inenco XX shareholders. strong and Our including and a fortunate debt our interest have average which and current value growth rate rates. $X.X debt arrangements capacity initiatives approximately at strategic with such AAG our our our balance significant on We're we comfortable creates December we're maturity support believe billion with total Group, at acquisitions for structure debt sheet X.X% investments as fixed financial was debt in and to the our
expenditures in So, operations cash will dividend we free the in our of $XXX was excludes summary, million. and our strength remain company. balance cash million XXXX, from generated flow capital In sheet the and key a which $XXX
for start which were use our Our forecast maximize priorities with flow cash value. the ongoing and of our support our to cash, continue shareholder to we in-line believe
approximately flow year our cash with we're generation ahead free planning estimated at at estimated $XXX cash in $X million strong $XXX to for cash million. operations and billion for XXXX our Looking from another
remain dividend, businesses, acquisitions share our Our earlier. priority for repurchase which reinvestment and covered cash in the Paul strategic
increase it's board dividends shareholders. paid months. year the a XXnd our of earnings, increased AAG's the annual $X.XX $X.XX from marking yesterday XXXX including approximately per benefit paid for dividend dividend, of the XX% approved This consecutive XXXX represents and our in for share per adjusted of our XXXX two Regarding a share the X%
fourth expenditures year. the were the quarter capital million million Our $XX $XXX for and in
we XXXX and to we're certain we're million planning the in repurchase. XX.X investments that XXXX, for of to shares tax and for impact purchased shares capital an we in association X.X In due common stock our our $XXX with available have million XXXX and anticipated of planning savings. of the increase AAG range today For on expenditures million million $XXX from authorized
but remain have active the periods for to We we repurchases, pattern no the set in these program in ahead. expect
an that dividend We returns shareholders. stock with the attractive is combined provides continue to best and our the believe to investment our
concludes this added us acquisition for efforts teams work for AAG the it was financial a reform. related mentioned proud to well our the active of quarter Paul and as fourth of and XXXX the all we're their as So, as very quarter before, tax including update for our
have while ahead in well positioned operating progress performance further and we're going we're results we Additionally, of more work the forward. us our our strengthen encouraged by to
to So as as guidance plans growth full in on XXXX. our the follows. current turning our Based performance our market we're guidance [ph] initiative now, for XXXX well and our that the future conditions as we see year
impact plus from AAG we currency. the including plus X% future AAG. and We to but X% sales total acquisitions foreign to and to XX% as be expect of includes XX% excluding plus for growth segment this business By the plus no in XX% sales sales such to range expect the XX% benefit any plus no plus acquisition automotive growth XXXX
we and total down expect business down sales X% products be For the industrial growth expect X% X%. to to to group, X% plus plus for we sales
at hard expect and lower million $X.XX we to of million to as approximately share operations of side, This earnings $X.XX. earnings includes the in the per On as AAG range a be $XX the $XX well EPS to and full it benefit guidance taxes point, our And with continued the for over associates dedication. the and I'll that of Act. said, related GPC thank Jobs to With to provisional Paul. turn income back for all we'd to like this work Tax Cuts year
