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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Changes in Benefit Obligation
Changes in benefit obligations for the years ended December 31, 2025 and 2024 were:
(in thousands)20252024
Changes in benefit obligation
Benefit obligation at beginning of year$1,981,552 $1,981,783 
Service cost6,271 6,842 
Interest cost91,630 101,289 
Plan participants’ contributions1,407 1,547 
Actuarial loss 27,416 51,940 
Foreign currency exchange rate changes12,374 (19,128)
Gross benefits paid(137,433)(142,721)
Curtailments(1,272)— 
Settlement of U.S. pension plan(1,519,426)— 
Other(8,800)— 
Benefit obligation at end of year$453,719 $1,981,552 
Schedule of Assumptions Used to Measure Pension Benefit Obligations
The assumptions used to measure the pension benefit obligations for the plans at December 31, 2025 and 2024, were:
20252024
Weighted average discount rate5.20 %5.15 %
Rate of increase in future compensation levels2.71 %2.85 %
Schedule of Changes in Plan Assets
Changes in plan assets for the years ended December 31, 2025 and 2024 were:
(in thousands)20252024
Changes in plan assets
Fair value of plan assets at beginning of year$2,223,879 $2,233,079 
Actual return on plan assets120,978 137,603 
Foreign currency exchange rate changes12,519 (20,733)
Employer contributions2,375 15,104 
Plan participants’ contributions1,407 1,547 
Benefits paid(122,795)(142,721)
Settlements of U.S. pension plan(1,519,426)— 
Other(442,663)— 
Fair value of plan assets at end of year$276,274 $2,223,879 
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
For the years ended December 31, 2025 and 2024, the aggregate projected benefit obligation and aggregate fair value of plan assets for plans with projected benefit obligations in excess of plan assets were as follows:
(in thousands)20252024
Aggregate projected benefit obligation$228,271 $229,602 
Aggregate fair value of plan assets$— $— 
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
For the years ended December 31, 2025 and 2024, the aggregate accumulated benefit obligation and aggregate fair value of plan assets for plans with accumulated benefit obligations in excess of plan assets were as follows:
(in thousands)20252024
Aggregate accumulated benefit obligation$219,900 $219,165 
Aggregate fair value of plan assets$— $— 
Schedule of Asset Allocations for Funded Pension Plans
The asset allocations for our funded pension plans at December 31, 2025 and 2024, and the target allocation for 2026, by asset category were:
 Target AllocationPercentage of Plan Assets at December 31
 202620252024
Asset Category
Equity securities40 %48 %13 %
Debt securities50 %52 %30 %
Other10 %— %57 %
100 %100 %100 %
Schedule of Fair Value of Plan Assets by Asset Category
 2025
(in thousands)TotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Observable Inputs
 (Level 2)
Significant Unobservable Inputs
(Level 3)
Equity Securities
Common stocks — mutual funds — equity$55,543 $55,543 $— $— 
Other stocks76,937 76,937 — — 
Debt Securities
Short-term investments374 374 — — 
Cash and equivalents18,878 18,878 — — 
Government bonds52,362 416 51,946 — 
Corporate bonds72,179 — 72,179 — 
Total$276,274 $152,149 $124,126 $— 
 2024
(in thousands)TotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Equity Securities
Common stocks — mutual funds — equity$54,256 $54,256 $— $— 
Genuine Parts Company common stock176,640 176,640 — — 
Other stocks72,749 72,749 — — 
Debt Securities
Short-term investments1,422 1,422 — — 
Cash and equivalents12,365 12,365 — — 
Government bonds52,381 329 52,052 — 
Corporate bonds66,321 — 66,321 — 
Mutual funds-fixed income201,247 201,247 — — 
Short term collective trust345,064 — 345,064 — 
Other
Options and futures1,241,434 — — 1,241,434 
Total$2,223,879 $519,008 $463,437 $1,241,434 
Schedule of Amounts Recognized in Consolidated Balance Sheets
The following table sets forth the funded status of the plans and the amounts recognized in the consolidated balance sheets at December 31:
(in thousands)20252024
Other long-term asset$50,827 $471,929 
Other current liability(16,010)(14,402)
Pension and other post-retirement liabilities(219,270)(218,629)
$(184,453)$238,898 
Schedule of Amounts Recognized In Accumulated Other Comprehensive Loss
Amounts recognized in accumulated other comprehensive loss consist of:
(in thousands)20252024
Net actuarial loss$36,776 $772,785 
Prior service cost 2,308 7,919 
$39,084 $780,704 
Schedule of Expected Cash Flows for Pension Plans Information about the expected cash flows for the pension plans follows (in thousands):
Employer contribution:
2026 (expected)$583 
Expected benefit payments:
2026$28,756 
2027$29,418 
2028$30,253 
2029$30,903 
2030$31,557 
2031 through 2035$160,813 
Schedule of Components of Net Periodic Benefit (Income) Cost
Net periodic benefit expense (income) included the following components:
(in thousands)202520242023
Service cost$6,271 $6,842 $5,991 
Interest cost91,630 101,289 104,490 
Expected return on plan assets(116,746)(177,474)(164,984)
Amortization of prior service cost1,140 1,127 692 
Amortization of actuarial loss18,478 14,281 9,361 
Net periodic benefit expense (income)$773 $(53,935)$(44,450)
Schedule of Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) are as follows:
(in thousands)202520242023
Current year actuarial loss $18,162 $101,991 $23,289 
Recognition of actuarial loss(18,478)(14,281)(9,361)
Recognition of prior service cost(1,140)(1,127)(692)
Recognition of curtailment gain1,270 — — 
Settlement of U.S. pension plan(741,967)— — 
Other— — 2,464 
Total recognized in other comprehensive income loss$(742,153)$86,583 $15,700 
Total recognized in net periodic benefit expense (income) and other comprehensive loss (income)$(741,380)$32,648 $(28,750)
Schedule of Assumptions Used To Measure Net Periodic Benefit (Income) Cost
The assumptions used in measuring the net periodic benefit expense (income) for the plans follow:
202520242023
Weighted average discount rate5.15 %5.30 %5.61 %
Rate of increase in future compensation levels2.85 %3.18 %3.16 %
Expected long-term rate of return on plan assets5.33 %7.60 %7.09 %