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Segment and Geographic Information | 3 Months Ended
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Mar. 31, 2014
Segment Reporting [Abstract] |
Segment and Geographic Information | Segment and Geographic Information We have four operating segments: Wholesale – North America; Wholesale – Europe; Self Service; and Specialty. Our Specialty operating segment was formed with our January 3, 2014 acquisition of Keystone Specialty, as discussed in Note 8, "Business Combinations." Our Wholesale – North America and Self Service operating segments are aggregated into one reportable segment, North America, because they possess similar economic characteristics and have common products and services, customers, and methods of distribution. Therefore, we present three reportable segments: North America, Europe and Specialty. The following table presents our financial performance by reportable segment for the periods indicated (in thousands):
| North America |  | Europe |  | Specialty |  | Eliminations |  | Consolidated
Three Months Ended March 31, 2014 |  |  |  |  |  |  |  |  |
Revenue: |  |  |  |  |  |  |  |  |
Third Party | $ | 1,029,266 |  |  | $ | 419,714 |  |  | $ | 176,797 |  |  | $ | — |  |  | $ | 1,625,777 |
Intersegment | 33 |  |  | — |  |  | 226 |  |  | (259 | ) |  | — |
Total segment revenue | $ | 1,029,299 |  |  | $ | 419,714 |  |  | $ | 177,023 |  |  | $ | (259 | ) |  | $ | 1,625,777 |
Segment EBITDA | $ | 146,138 |  |  | $ | 41,155 |  |  | $ | 17,804 |  |  | $ | — |  |  | $ | 205,097 |
Depreciation and amortization | 17,145 |  |  | 6,966 |  |  | 3,735 |  |  | — |  |  | 27,846 |
Three Months Ended March 31, 2013 |  |  |  |  |  |  |  |  |
Revenue: |  |  |  |  |  |  |  |  |
Third Party | $ | 983,388 |  |  | $ | 212,609 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,195,997 |
Intersegment | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total segment revenue | $ | 983,388 |  |  | $ | 212,609 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,195,997 |
Segment EBITDA | $ | 136,067 |  |  | $ | 25,664 |  |  | $ | — |  |  | $ | — |  |  | $ | 161,731 |
Depreciation and amortization | 15,887 |  |  | 3,153 |  |  | — |  |  | — |  |  | 19,040 |
The key measure of segment profit or loss reviewed by our chief operating decision maker, who is our Chief Executive Officer, is Segment EBITDA. Segment EBITDA includes revenue and expenses that are controllable by the segment. Corporate and administrative expenses are allocated to the segments based on usage, with shared expenses apportioned based on the segment's percentage of consolidated revenue. Segment EBITDA excludes restructuring and acquisition related expenses, depreciation, amortization, interest, change in fair value of contingent consideration liabilities, taxes and equity in earnings of unconsolidated subsidiaries. Loss on debt extinguishment is considered a component of interest in calculating Segment EBITDA, as the write-off of debt issuance costs is similar to the treatment of debt issuance cost amortization. The table below provides a reconciliation from Segment EBITDA to Net Income (in thousands):
| Three Months Ended
| March 31,
| 2014 |  | 2013
Segment EBITDA | $ | 205,097 |  |  | $ | 161,731 |
Deduct: |  |  |
Restructuring and acquisition related expenses(1) | 3,321 |  |  | 1,505 |
Change in fair value of contingent consideration liabilities (2) | (1,222 | ) |  | 823 |
Add: |  |  |
Equity in earnings of unconsolidated subsidiaries | (36 | ) |  | — |
EBITDA | 202,962 |  |  | 159,403 |
Depreciation and amortization | 27,846 |  |  | 19,040 |
Interest expense, net | 16,118 |  |  | 8,595 |
Loss on debt extinguishment | 324 |  |  | — |
Provision for income taxes | 54,021 |  |  | 47,176 |
Net income | $ | 104,653 |  |  | $ | 84,592 |
(1) See Note 9, "Restructuring and Acquisition Related Expenses," for further information. (2) See Note 6, "Fair Value Measurements," for further information on our contingent consideration liabilities. The following table presents capital expenditures, which includes additions to property and equipment, by reportable segment (in thousands):
| Three Months Ended ,
| March 31,
| 2014 |  | 2013
Capital Expenditures |  |  |
North America | $ | 18,921 |  |  | $ | 17,564 |
Europe | 13,451 |  |  | 3,897 |
Specialty | 1,344 |  |  | — |
| $ | 33,716 |  |  | $ | 21,461 |
The following table presents assets by reportable segment (in thousands):
| March 31, 2014 |  | December 31, 2013
Receivables, net |  |  |
North America | $ | 309,187 |  |  | $ | 277,395 |
Europe | 196,680 |  |  | 180,699 |
Specialty | 71,345 |  |  | — |
Total receivables, net | 577,212 |  |  | 458,094 |
Inventory |  |  |
North America | 748,913 |  |  | 748,167 |
Europe | 341,398 |  |  | 328,785 |
Specialty | 165,493 |  |  | — |
Total inventory | 1,255,804 |  |  | 1,076,952 |
Property and Equipment, net |  |  |
North America | 447,368 |  |  | 447,528 |
Europe | 109,605 |  |  | 99,123 |
Specialty | 36,894 |  |  | — |
Total property and equipment, net | 593,867 |  |  | 546,651 |
Other unallocated assets | 2,782,945 |  |  | 2,437,077 |
Total assets | $ | 5,209,828 |  |  | $ | 4,518,774 |
We report net receivables, inventories, and net property and equipment by segment as that information is used by the chief operating decision maker in assessing segment performance. These assets provide a measure for the operating capital employed in each segment. Unallocated assets include cash, prepaid and other current and noncurrent assets, goodwill, intangibles and income taxes. Our operations are primarily conducted in the U.S. Our European operations are located in the U.K., the Netherlands, Belgium, and France. Our operations in other countries include recycled and aftermarket operations in Canada, engine remanufacturing and bumper refurbishing operations in Mexico, an aftermarket parts freight consolidation warehouse in Taiwan, and other alternative parts operations in Guatemala and Costa Rica. Our net sales are attributed to geographic area based on the location of the selling operation. The following table sets forth our revenue by geographic area (in thousands):
| Three Months Ended
| March 31,
| 2014 |  | 2013
Revenue |  |  |
United States | $ | 1,107,870 |  |  | $ | 889,341 |
United Kingdom | 316,946 |  |  | 212,609 |
Other countries | 200,961 |  |  | 94,047 |
| $ | 1,625,777 |  |  | $ | 1,195,997 |
The following table sets forth our tangible long-lived assets by geographic area (in thousands):
| March 31, 2014 |  | December 31, 2013
Long-lived Assets |  |  |
United States | $ | 456,219 |  |  | $ | 418,869 |
United Kingdom | 88,420 |  |  | 77,827 |
Other countries | 49,228 |  |  | 49,955 |
| $ | 593,867 |  |  | $ | 546,651 |
The following table sets forth our revenue by product category (in thousands):
| Three Months Ended
| March 31,
| 2014 |  | 2013
Aftermarket, other new and refurbished products | $ | 1,104,649 |  |  | $ | 667,956 |
Recycled, remanufactured and related products and services | 364,904 |  |  | 354,436 |
Other | 156,224 |  |  | 173,605 |
| $ | 1,625,777 |  |  | $ | 1,195,997 |
Our North American reportable segment generates revenue from all of our product categories, while our European and Specialty segments generate revenue primarily from the sale of aftermarket products. Revenue from other sources includes scrap sales, bulk sales to mechanical remanufacturers (including cores) and sales of aluminum ingots and sows from our furnace operations.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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