Paul. with our of then discuss you, will we We'll key our full-year financial begin Thank for review and a XXXX. information outlook
Our total compared $X.X were of margin fourth driving sales billion at quarter in XXXX. in the gross XX.X% X.X% XX.X% to of
margin benefited our in of our to ongoing Automotive more well global including our XX% XX% The sales suppliers, reflects businesses and digital For favorable and more the from gross margin and pricing have reasons. improvement Industrial as significant increase effective initiatives flexible to XX% in These from due XXXX and year, prior full our billion sophisticated product the with several year. negotiations gross improved comparisons as $XX.X mix. margin strategies
higher gross margin XXXX. improved inventory our our throughout of net additional Specific had to year. relative to earned our margin benefit acquisitions gains other three supplier quarter, to year-end of and the volumes has gross In segments improved incentives further addition, also the all the positively model fourth life margin gross we of which AAG impacted out, at the and due
in initiatives, in across margin line of With remain materials, XXXX rate. gross present throughout segments emphasis also and environment with raw the relatively our had X% inflationary levels and margin each of products same to our of an impact X% inflation more in volume Overall, and XXXX expect on and but pronounced more We experienced fourth in of consistent increases full-year rates place the the place This normal price continued and commodities into direct in we and to as with for spread freight we reasonable attribute and quarter year. incentives. have supplier steady our Automotive. tariffs, XXXX for our place our in quarter and indirect we fourth the pronounced more industrial business the the pricing and much
impact the of was customers maintain tariffs supplier not our to the While margin. passed growth XXXX, on significant increases to we in our
this We in to XXXX. continue expect
XXXX months supplier cumulative Our X.X% up XX up increases up and of were in office. Industrial in price the for X.X% in Automotive, X.X%
administrator $X.X the XX.X% quarter sales. expenses billion fourth representing and selling were other Our of in
factors of These discussed For we year as acquisitions or XXXX up AAG including of these from model quarter other sales. the at were and the to impact and earlier. were costs XX.X% the billion year, cost expenses the several $X.X operating and both a higher due
In in facilities well in investments in freight, IT, also security addition, areas increase rising and delivery costs as payroll, our people XXXX such as operations. cyber as impacted
Additionally, lower than more incentive as from a such in areas in difficult in and compensation, XXXX we fourth professional This year-end of legal quarter and comparison insurance. expected for XXXX. benefited expenses made the
administration to were but improve these XXXX We press to income statement and and line $XX effective the fee primarily To highly and AAG XXXX, our to net other a other other selling, quarter transaction includes a and to million AAG $XX on of items million million group on $XX costs the information infrastructure. fourth for ray segment expenses account cost continue today's of fourth for year. operating schedule release. respectively in $XX expenses, full lower for towards we transaction we in the our attempted on related quarter Our the work products In full spin favorable also business net million primarily the costs other and off and year in termination and received. the and transaction the
to of innovative our greater Our and supply unlock investments steps across productivity our the savings global enhance efficiencies includes acquisitions, accelerate integration to and strategies chains plans and operations. to our
the discuss let's Now by segment. results
$XXX the XXXX. operating the prior fourth compared with up for in up of fourth X% revenue and to X.X% an was of quarter $X.X Automotive was million from the profit billion of margin year operating their X.X% Our XX% quarter
by as areas we as improve our solid as rising facilities in on this in payroll leverage While and continue such to investments well costs was offset increased sales freight. SalesPro, our people and the
a the Our year. quarter, the X% from billion of prior in Industrial sale quarter for fourth the $X.X strong increase
now on X.X% at has a basis due and was improved their and XX operating growth. operating of $XXX million to profit quarters. been ability margin The gross from strong with X.X% a Industrial their eight leverage year operating solid sales business expenses XX% last expansion for to the consecutive well increase point margin Our to the
product tremendous the operating $XX year for was the Our prior $XXX profit up and to margin, products business X% a X% driving year business their of were team. the from revenues X.X% a up operating XXXX. in significantly million from business million which increase is There's
in quarter consecutive XX increase. and X.X% with $XX company the million $XX our Our fourth profit increase million sales in XXXX improvement. rate a up was second expense to we and XXXX This basis on range fourth total net had to net net operating fairly million of a to XXXX XX% year another of operating compared $XX for despite our XXXX. operating million. interest expect hold the was in X.X% point represents profit four last quarter X% for In margin margin the interest We quarter increases two in interest expected for steady and $XX
expense quarter million year. for $XX total and Our was for the amortization $XX million full the
For XXXX, increased full slightly million. $XX million to$ to we to amortization year XX expect
year. and million expense for the the was depreciation $XXX million full fourth for Our $XX quarter
basis, transaction in amortization segment this $XXX $XX expect XXXX. of XXXX. corporate the Continuing and and million line, expense plans million to the expenditures discussed our capital other million release, with further and and $XX $XXX the million other in press we our due our expect $XXX earlier. costs million to to fourth in represents in $XXX in approximately depreciation cash utilize quarter and that with our includes for presented increase million which in On information We the flows XXXX to a strong in tax to combined investments savings increase XXXX in to additional
XXXX. a Excluding was comparable increase $XX these costs, expense or from million corporate million our $XX
reflects these transaction increase million comparative Primarily, in a other in increase for well incentives, costs as For the up year the quarter $XXX costs. long-term to security corporate retirement our the $XX plan the from full million full and benefits and the year, XXXX and This cost with $XX and cost-related on our expense minority short expense and corporate incremental basis. or million and excluding is associated in retirement valuation other IT fourth million as was including interests. $XXX an
and we in corporate be mind, in expense $XXX $XXX to for costs expect other With our the million million range these the XXXX.
tax adjustment This quarter for our required rate was which quarter included related rate provisional at tax reform. one-time XX.X%. Our compares to unfavorable the fourth to the XXXX XX%
Our fourth we quarter XXXX tax rate we're was effective tax higher the tax planning The was than transition the first final three XXXX. and earlier. of non-deductible tax quarters retirement that of full expense plan XXXX XX% well in year a due to for XX.X% as XXXX the mentioned as rate adjustments rate in expense
So, condition. and strong now, our excellent sheet in remains discuss balance which we'll
receivable accounts remain year and Our the well quality prior receivables. sales billion our the up fourth $X.X of quarter was below pleased from our X% increase. We with
an job X% from December at significant so our managing billion in XXXX are excellent down made team's doing inventory progress was investment. XXXX of $X.X and XX Our key this
of key payable payment with accounts is benefit $X Our improved at the terms billion due to mainly our XX% global of partners.
inventory to very improved XX pleased and position in impact at capital payable We're on the working improvement XXXX. our December with flows. to cash positive our its accounts Our ratio of XXX%
strong for sheet balance slightly December in our the billion as is with structure financial allocation. from and XX% have $X.X strong our of billion a cash priorities XX down the comfortable effective XXXX. support flows as initiative and XXXX XXXX. in We generated debt up cash billion from We're operations with ongoing future at total from capital current to capacity we an $X.X Our debt growth $X.X in well
nearly expenditures $XXX flow, XXXX. the $XXX excludes free In dividend and million in addition, which from our improve capital million to cash
We $XXX solid range. year operations estimating in which to currently expect another cash value. for priorities cash flow the we billion flow and billion we're of Strong shareholder continue in million $X.X cash XXXX our support and in maximize use serves cash the believe to free to from $X.X
businesses, in the repurchases, and remain cash acquisitions our their for priorities key dividend. strategic real investment the Our
shareholders; marking in We dividend dividend in is dividend, reflects $X.XX it's of investment which the related XXXX expenditures board with increase the per shareholders, per Regarding AAG adjusted step-up spend for the this directors and addition $XXX in XXXX to for paid annual X% annual earnings the plans and increase annual the the from approved our incremental million a consecutive our our yesterday, of XXXX share the ratio. in paid as $X.XX targeted represents our the increase in XXrd represents dividend and approximately to invested in to paid areas and XXXX share capital this in the line productivity facilities. our our our such technology payout XX% per share of in this
we're reform will we for XXXX working continue and improvement planning our tax in of For capital to reinvest and our savings capital expenditures the range $XXX million.
program and repurchase. and the that the shares We X an today available continue combined in our Regarding our with million attractive to common be believe million return provides to active shareholders. the over XX.X investment stock our and authorized is we for our dividend, to we in long-term XXXX the purchased best accept have share of stock approximately program, we repurchase shares and
at our full our XXXX. announced considered acquisition. we XXXX let's now our and performance our arriving in guidance So the current as XXXX, discuss And initiatives previously guidance, including [indiscernible] for risk, well year as plans,
the XXXX. some which In by and at in slowdown strong a account into market see U.S. most foreseeable impact a dollar the conditions global for the of future indicate we addition, point potential the economic accounts we took for
plus excludes X% to expect This translation. in approximate range to the of sales total guidance mind, in XXXX impact headwind. X% factors currency plus automotive currency the the By to plus X% benefit X% of any X.X% we growth are X% before before for plus total X.X% an plus the of plus headwinds to to the these approximate sales With X.X% from segment, we unannounced be acquisitions. for or X.X% or or plus to business, plus foreign guiding future X%
sales segment. For business total sales X% flat and to total plus growth of X% the products for segment, plus the industrial
share impact an per headwind. $X.XX be of X% On $X.XX the currency to adjusted in before to $X.XX earnings an currently the earnings side, $X.XX approximately to or of expect the range we
Our outlook going forward reflects for the cautiously optimistic XXXX.
a cautious economic economy slowdown in the particular, year. and being second due industrial half are slowing potential We to front of in the the
work XXXX. with In environment the these through Likewise, platform sustained underwriting Europe which teams though, more and of challenging in confident business us and optimistic growth broad than XXXX. in progress place we're in more issue management that addition, initiatives have show provides our plan fundamentals see very we're our and growing opportunities. to the conditions long-term expect the to in Despite sales
So that's XXXX, results our the to to fourth the pleased as year as coming that, reporting for our With look I report and Paul. progress forward back financial full the to very the it year XXXX. turn and from quarters. finish we with quarter in for were solid outlook We well of
