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Condensed Consolidating Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2015
Condensed Consolidating Financial Information [Abstract] |
Consolidated Condensed Balance Sheets |
LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Balance Sheets (In thousands)
| December 31, 2015
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | 17,616 |  |  | $ | 13,432 |  |  | $ | 56,349 |  |  | $ | — |  |  | $ | 87,397 |
Receivables, net | — |  |  | 214,502 |  |  | 375,658 |  |  | — |  |  | 590,160 |
Intercompany receivables, net | 3 |  |  | — |  |  | 13,544 |  |  | (13,547 | ) |  | — |
Inventory | — |  |  | 1,060,834 |  |  | 495,718 |  |  | — |  |  | 1,556,552 |
Prepaid expenses and other current assets | 15,254 |  |  | 44,810 |  |  | 46,539 |  |  | — |  |  | 106,603 |
Total Current Assets | 32,873 |  |  | 1,333,578 |  |  | 987,808 |  |  | (13,547 | ) |  | 2,340,712 |
Property and Equipment, net | 339 |  |  | 494,658 |  |  | 201,570 |  |  | — |  |  | 696,567 |
Intangible Assets: |  |  |  |  |  |  |  |  |
Goodwill | — |  |  | 1,640,745 |  |  | 678,501 |  |  | — |  |  | 2,319,246 |
Other intangibles, net | — |  |  | 141,537 |  |  | 73,580 |  |  | — |  |  | 215,117 |
Investment in Subsidiaries | 3,456,837 |  |  | 285,284 |  |  | — |  |  | (3,742,121 | ) |  | — |
Intercompany Notes Receivable | 630,717 |  |  | 61,764 |  |  | — |  |  | (692,481 | ) |  | — |
Other Assets | 35,649 |  |  | 28,184 |  |  | 18,218 |  |  | (5,856 | ) |  | 76,195 |
Total Assets | $ | 4,156,415 |  |  | $ | 3,985,750 |  |  | $ | 1,959,677 |  |  | $ | (4,454,005 | ) |  | $ | 5,647,837 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 681 |  |  | $ | 229,519 |  |  | $ | 185,388 |  |  | $ | — |  |  | $ | 415,588 |
Intercompany payables, net | — |  |  | 13,544 |  |  | 3 |  |  | (13,547 | ) |  | — |
Accrued expenses: |  |  |  |  |  |  |  |  |
Accrued payroll-related liabilities | 4,395 |  |  | 48,698 |  |  | 33,434 |  |  | — |  |  | 86,527 |
Self-insurance reserves | — |  |  | 37,499 |  |  | 260 |  |  | — |  |  | 37,759 |
Other accrued expenses | 5,399 |  |  | 43,387 |  |  | 75,680 |  |  | — |  |  | 124,466 |
Other current liabilities | 284 |  |  | 15,953 |  |  | 15,359 |  |  | — |  |  | 31,596 |
Current portion of long-term obligations | 21,041 |  |  | 1,425 |  |  | 33,568 |  |  | — |  |  | 56,034 |
Total Current Liabilities | 31,800 |  |  | 390,025 |  |  | 343,692 |  |  | (13,547 | ) |  | 751,970 |
Long-Term Obligations, Excluding Current Portion | 976,353 |  |  | 7,487 |  |  | 544,828 |  |  | — |  |  | 1,528,668 |
Intercompany Notes Payable | — |  |  | 615,488 |  |  | 76,993 |  |  | (692,481 | ) |  | — |
Deferred Income Taxes | — |  |  | 113,905 |  |  | 19,190 |  |  | (5,856 | ) |  | 127,239 |
Other Noncurrent Liabilities | 33,580 |  |  | 70,109 |  |  | 21,589 |  |  | — |  |  | 125,278 |
Stockholders’ Equity | 3,114,682 |  |  | 2,788,736 |  |  | 953,385 |  |  | (3,742,121 | ) |  | 3,114,682 |
Total Liabilities and Stockholders' Equity | $ | 4,156,415 |  |  | $ | 3,985,750 |  |  | $ | 1,959,677 |  |  | $ | (4,454,005 | ) |  | $ | 5,647,837 |
LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Balance Sheets (In thousands)
| December 31, 2014
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | 14,930 |  |  | $ | 32,103 |  |  | $ | 67,572 |  |  | $ | — |  |  | $ | 114,605 |
Receivables, net | 145 |  |  | 217,542 |  |  | 383,735 |  |  | — |  |  | 601,422 |
Intercompany receivables, net | 1,360 |  |  | — |  |  | 8,048 |  |  | (9,408 | ) |  | — |
Inventory | — |  |  | 964,477 |  |  | 469,370 |  |  | — |  |  | 1,433,847 |
Prepaid expenses and other current assets | 20,640 |  |  | 36,553 |  |  | 28,606 |  |  | — |  |  | 85,799 |
Total Current Assets | 37,075 |  |  | 1,250,675 |  |  | 957,331 |  |  | (9,408 | ) |  | 2,235,673 |
Property and Equipment, net | 494 |  |  | 470,791 |  |  | 158,702 |  |  | — |  |  | 629,987 |
Intangible Assets: |  |  |  |  |  |  |  |  |
Goodwill | — |  |  | 1,563,796 |  |  | 725,099 |  |  | — |  |  | 2,288,895 |
Other intangibles, net | — |  |  | 155,819 |  |  | 89,706 |  |  | — |  |  | 245,525 |
Investment in Subsidiaries | 3,216,039 |  |  | 279,967 |  |  | — |  |  | (3,496,006 | ) |  | — |
Intercompany Notes Receivable | 667,949 |  |  | 23,449 |  |  | — |  |  | (691,398 | ) |  | — |
Other Assets | 35,380 |  |  | 24,457 |  |  | 22,960 |  |  | (7,138 | ) |  | 75,659 |
Total Assets | $ | 3,956,937 |  |  | $ | 3,768,954 |  |  | $ | 1,953,798 |  |  | $ | (4,203,950 | ) |  | $ | 5,475,739 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 682 |  |  | $ | 182,607 |  |  | $ | 216,913 |  |  | $ | — |  |  | $ | 400,202 |
Intercompany payables, net | — |  |  | 8,048 |  |  | 1,360 |  |  | (9,408 | ) |  | — |
Accrued expenses: |  |  |  |  |  |  |  |  |
Accrued payroll-related liabilities | 8,075 |  |  | 48,850 |  |  | 29,091 |  |  | — |  |  | 86,016 |
Self-Insurance reserves | — |  |  | 36,173 |  |  | 196 |  |  | — |  |  | 36,369 |
Other accrued expenses | 8,061 |  |  | 47,684 |  |  | 72,034 |  |  | — |  |  | 127,779 |
Other current liabilities | 283 |  |  | 16,197 |  |  | 15,720 |  |  | — |  |  | 32,200 |
Current portion of long-term obligations | 53,595 |  |  | 4,599 |  |  | 3,744 |  |  | — |  |  | 61,938 |
Total Current Liabilities | 70,696 |  |  | 344,158 |  |  | 339,058 |  |  | (9,408 | ) |  | 744,504 |
Long-Term Obligations, Excluding Current Portion | 1,133,916 |  |  | 6,561 |  |  | 643,733 |  |  | — |  |  | 1,784,210 |
Intercompany Notes Payable | — |  |  | 649,824 |  |  | 41,574 |  |  | (691,398 | ) |  | — |
Deferred Income Taxes | — |  |  | 93,877 |  |  | 20,199 |  |  | (7,138 | ) |  | 106,938 |
Other Noncurrent Liabilities | 31,668 |  |  | 60,213 |  |  | 27,549 |  |  | — |  |  | 119,430 |
Stockholders’ Equity | 2,720,657 |  |  | 2,614,321 |  |  | 881,685 |  |  | (3,496,006 | ) |  | 2,720,657 |
Total Liabilities and Stockholders’ Equity | $ | 3,956,937 |  |  | $ | 3,768,954 |  |  | $ | 1,953,798 |  |  | $ | (4,203,950 | ) |  | $ | 5,475,739 |
Consolidated Condensed Statements of Income |
LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Income (In thousands)
| Year Ended December 31, 2015
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Revenue | $ | — |  |  | $ | 4,965,355 |  |  | $ | 2,357,655 |  |  | $ | (130,377 | ) |  | $ | 7,192,633 |
Cost of goods sold | — |  |  | 3,010,820 |  |  | 1,478,661 |  |  | (130,377 | ) |  | 4,359,104 |
Gross margin | — |  |  | 1,954,535 |  |  | 878,994 |  |  | — |  |  | 2,833,529 |
Facility and warehouse expenses | — |  |  | 408,828 |  |  | 147,213 |  |  | — |  |  | 556,041 |
Distribution expenses | — |  |  | 408,112 |  |  | 194,785 |  |  | — |  |  | 602,897 |
Selling, general and administrative expenses | 32,946 |  |  | 490,530 |  |  | 304,857 |  |  | — |  |  | 828,333 |
Restructuring and acquisition related expenses | — |  |  | 13,962 |  |  | 5,549 |  |  | — |  |  | 19,511 |
Depreciation and amortization | 154 |  |  | 82,058 |  |  | 39,908 |  |  | — |  |  | 122,120 |
Operating (loss) income | (33,100 | ) |  | 551,045 |  |  | 186,682 |  |  | — |  |  | 704,627 |
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense | 47,626 |  |  | 669 |  |  | 9,565 |  |  | — |  |  | 57,860 |
Intercompany interest (income) expense, net | (41,904 | ) |  | 28,944 |  |  | 12,960 |  |  | — |  |  | — |
Change in fair value of contingent consideration liabilities | — |  |  | 230 |  |  | 224 |  |  | — |  |  | 454 |
Interest and other expense (income), net | 99 |  |  | (7,644 | ) |  | 4,828 |  |  | — |  |  | (2,717 | )
Total other expense, net | 5,821 |  |  | 22,199 |  |  | 27,577 |  |  | — |  |  | 55,597 |
(Loss) income before (benefit) provision for income taxes | (38,921 | ) |  | 528,846 |  |  | 159,105 |  |  | — |  |  | 649,030 |
(Benefit) provision for income taxes | (16,054 | ) |  | 205,176 |  |  | 30,581 |  |  | — |  |  | 219,703 |
Equity in earnings of unconsolidated subsidiaries | (1,000 | ) |  | 59 |  |  | (5,163 | ) |  | — |  |  | (6,104 | )
Equity in earnings of subsidiaries | 447,090 |  |  | 24,632 |  |  | — |  |  | (471,722 | ) |  | — |
Net income | $ | 423,223 |  |  | $ | 348,361 |  |  | $ | 123,361 |  |  | $ | (471,722 | ) |  | $ | 423,223 |
LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Income (In thousands)
| Year Ended December 31, 2014
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Revenue | $ | — |  |  | $ | 4,649,391 |  |  | $ | 2,221,831 |  |  | $ | (131,158 | ) |  | $ | 6,740,064 |
Cost of goods sold | — |  |  | 2,813,427 |  |  | 1,405,882 |  |  | (131,158 | ) |  | 4,088,151 |
Gross margin | — |  |  | 1,835,964 |  |  | 815,949 |  |  | — |  |  | 2,651,913 |
Facility and warehouse expenses | — |  |  | 382,937 |  |  | 143,354 |  |  | — |  |  | 526,291 |
Distribution expenses | — |  |  | 389,430 |  |  | 187,911 |  |  | — |  |  | 577,341 |
Selling, general and administrative expenses | 25,770 |  |  | 460,516 |  |  | 276,602 |  |  | — |  |  | 762,888 |
Restructuring and acquisition related expenses | — |  |  | 8,628 |  |  | 6,178 |  |  | — |  |  | 14,806 |
Depreciation and amortization | 218 |  |  | 81,253 |  |  | 39,248 |  |  | — |  |  | 120,719 |
Operating (loss) income | (25,988 | ) |  | 513,200 |  |  | 162,656 |  |  | — |  |  | 649,868 |
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense | 50,636 |  |  | 635 |  |  | 13,271 |  |  | — |  |  | 64,542 |
Intercompany interest (income) expense, net | (48,556 | ) |  | 23,865 |  |  | 24,691 |  |  | — |  |  | — |
Loss on debt extinguishment | 324 |  |  | — |  |  | — |  |  | — |  |  | 324 |
Change in fair value of contingent consideration liabilities | — |  |  | (2,081 | ) |  | 230 |  |  | — |  |  | (1,851 | )
Interest and other expense (income), net | 230 |  |  | (6,278 | ) |  | 5,013 |  |  | — |  |  | (1,035 | )
Total other expense, net | 2,634 |  |  | 16,141 |  |  | 43,205 |  |  | — |  |  | 61,980 |
(Loss) income before (benefit) provision for income taxes | (28,622 | ) |  | 497,059 |  |  | 119,451 |  |  | — |  |  | 587,888 |
(Benefit) provision for income taxes | (10,536 | ) |  | 190,456 |  |  | 24,344 |  |  | — |  |  | 204,264 |
Equity in earnings of unconsolidated subsidiaries | — |  |  | 40 |  |  | (2,145 | ) |  | — |  |  | (2,105 | )
Equity in earnings of subsidiaries | 399,605 |  |  | 28,846 |  |  | — |  |  | (428,451 | ) |  | — |
Net income | $ | 381,519 |  |  | $ | 335,489 |  |  | $ | 92,962 |  |  | $ | (428,451 | ) |  | $ | 381,519 |
LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Income (In thousands)
| Year Ended December 31, 2013
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Revenue | $ | — |  |  | $ | 3,576,269 |  |  | $ | 1,598,832 |  |  | $ | (112,573 | ) |  | $ | 5,062,528 |
Cost of goods sold | — |  |  | 2,100,804 |  |  | 998,895 |  |  | (112,573 | ) |  | 2,987,126 |
Gross margin | — |  |  | 1,475,465 |  |  | 599,937 |  |  | — |  |  | 2,075,402 |
Facility and warehouse expenses | — |  |  | 323,042 |  |  | 102,039 |  |  | — |  |  | 425,081 |
Distribution expenses | — |  |  | 297,908 |  |  | 134,039 |  |  | — |  |  | 431,947 |
Selling, general and administrative expenses | 26,778 |  |  | 377,481 |  |  | 192,793 |  |  | — |  |  | 597,052 |
Restructuring and acquisition related expenses | — |  |  | 1,406 |  |  | 8,767 |  |  | — |  |  | 10,173 |
Depreciation and amortization | 250 |  |  | 55,802 |  |  | 24,917 |  |  | — |  |  | 80,969 |
Operating (loss) income | (27,028 | ) |  | 419,826 |  |  | 137,382 |  |  | — |  |  | 530,180 |
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense | 42,442 |  |  | 640 |  |  | 8,102 |  |  | — |  |  | 51,184 |
Intercompany interest (income) expense, net | (45,459 | ) |  | 21,978 |  |  | 23,481 |  |  | — |  |  | — |
Loss on debt extinguishment | 2,795 |  |  | — |  |  | — |  |  | — |  |  | 2,795 |
Change in fair value of contingent consideration liabilities | — |  |  | (744 | ) |  | 3,248 |  |  | — |  |  | 2,504 |
Interest and other expense (income), net | 252 |  |  | (2,858 | ) |  | 476 |  |  | — |  |  | (2,130 | )
Total other expense, net | 30 |  |  | 19,016 |  |  | 35,307 |  |  | — |  |  | 54,353 |
(Loss) income before (benefit) provision for income taxes | (27,058 | ) |  | 400,810 |  |  | 102,075 |  |  | — |  |  | 475,827 |
(Benefit) provision for income taxes | (7,193 | ) |  | 151,369 |  |  | 20,028 |  |  | — |  |  | 164,204 |
Equity in earnings of subsidiaries | 331,488 |  |  | 22,050 |  |  | — |  |  | (353,538 | ) |  | — |
Net income | $ | 311,623 |  |  | $ | 271,491 |  |  | $ | 82,047 |  |  | $ | (353,538 | ) |  | $ | 311,623 |
Consolidated Condensed Statements of Comprehensive Income (Loss) |
LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Comprehensive Income (In thousands)
| Year Ended December 31, 2015
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net income | $ | 423,223 |  |  | $ | 348,361 |  |  | $ | 123,361 |  |  | $ | (471,722 | ) |  | $ | 423,223 |
Other comprehensive (loss) income: |  |  |  |  |  |  |  |  |
Foreign currency translation | (69,817 | ) |  | (20,359 | ) |  | (65,878 | ) |  | 86,237 |  |  | (69,817 | )
Net change in unrecognized gains/losses on derivative instruments, net of tax | 2,469 |  |  | — |  |  | 294 |  |  | (294 | ) |  | 2,469 |
Net change in unrealized gains/losses on pension plan, net of tax | 2,103 |  |  | — |  |  | 2,103 |  |  | (2,103 | ) |  | 2,103 |
Total other comprehensive loss | (65,245 | ) |  | (20,359 | ) |  | (63,481 | ) |  | 83,840 |  |  | (65,245 | )
Total comprehensive income | $ | 357,978 |  |  | $ | 328,002 |  |  | $ | 59,880 |  |  | $ | (387,882 | ) |  | $ | 357,978 |
LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Comprehensive Income (In thousands)
| Year Ended December 31, 2014
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net income | $ | 381,519 |  |  | $ | 335,489 |  |  | $ | 92,962 |  |  | $ | (428,451 | ) |  | $ | 381,519 |
Other comprehensive (loss) income: |  |  |  |  |  |  |  |  |
Foreign currency translation | (51,979 | ) |  | (17,710 | ) |  | (49,559 | ) |  | 67,269 |  |  | (51,979 | )
Net change in unrecognized gains/losses on derivative instruments, net of tax | 2,195 |  |  | — |  |  | (444 | ) |  | 444 |  |  | 2,195 |
Net change in unrealized gains/losses on pension plan, net of tax | (10,452 | ) |  | — |  |  | (10,452 | ) |  | 10,452 |  |  | (10,452 | )
Total other comprehensive loss | (60,236 | ) |  | (17,710 | ) |  | (60,455 | ) |  | 78,165 |  |  | (60,236 | )
Total comprehensive income | $ | 321,283 |  |  | $ | 317,779 |  |  | $ | 32,507 |  |  | $ | (350,286 | ) |  | $ | 321,283 |
LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Comprehensive Income (In thousands)
| Year Ended December 31, 2013
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net income | $ | 311,623 |  |  | $ | 271,491 |  |  | $ | 82,047 |  |  | $ | (353,538 | ) |  | $ | 311,623 |
Other comprehensive income: |  |  |  |  |  |  |  |  |
Foreign currency translation | 14,056 |  |  | 7,168 |  |  | 15,495 |  |  | (22,663 | ) |  | 14,056 |
Net change in unrecognized gains/losses on derivative instruments, net of tax | 4,495 |  |  | — |  |  | 1,322 |  |  | (1,322 | ) |  | 4,495 |
Net change in unrealized gain on pension plan, net of tax | 701 |  |  | — |  |  | 701 |  |  | (701 | ) |  | 701 |
Total other comprehensive income | 19,252 |  |  | 7,168 |  |  | 17,518 |  |  | (24,686 | ) |  | 19,252 |
Total comprehensive income | $ | 330,875 |  |  | $ | 278,659 |  |  | $ | 99,565 |  |  | $ | (378,224 | ) |  | $ | 330,875 |
Consolidated Condensed Statements of Cash Flows |
LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows (In thousands)
| Year Ended December 31, 2015
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 248,367 |  |  | $ | 393,422 |  |  | $ | 136,361 |  |  | $ | (248,313 | ) |  | $ | 529,837 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Purchases of property and equipment | (1 | ) |  | (85,868 | ) |  | (84,621 | ) |  | — |  |  | (170,490 | )
Investment and intercompany note activity with subsidiaries | (66,712 | ) |  | — |  |  | — |  |  | 66,712 |  |  | — |
Acquisitions, net of cash acquired | — |  |  | (118,963 | ) |  | (41,554 | ) |  | — |  |  | (160,517 | )
Other investing activities, net | — |  |  | 5,446 |  |  | (4,432 | ) |  | — |  |  | 1,014 |
Net cash used in investing activities | (66,713 | ) |  | (199,385 | ) |  | (130,607 | ) |  | 66,712 |  |  | (329,993 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Proceeds from exercise of stock options | 8,168 |  |  | — |  |  | — |  |  | — |  |  | 8,168 |
Excess tax benefit from stock-based payments | 14,445 |  |  | — |  |  | — |  |  | — |  |  | 14,445 |
Taxes paid related to net share settlements of stock-based compensation awards | (7,581 | ) |  | — |  |  | — |  |  | — |  |  | (7,581 | )
Debt issuance costs | — |  |  | — |  |  | (97 | ) |  | — |  |  | (97 | )
Borrowings under revolving credit facilities | 212,000 |  |  | — |  |  | 101,142 |  |  | — |  |  | 313,142 |
Repayments under revolving credit facilities | (352,000 | ) |  | — |  |  | (93,282 | ) |  | — |  |  | (445,282 | )
Repayments under term loans | (22,500 | ) |  | — |  |  | — |  |  | — |  |  | (22,500 | )
Borrowings under receivables securitization facility | — |  |  | — |  |  | 3,858 |  |  | — |  |  | 3,858 |
Repayments under receivables securitization facility | — |  |  | — |  |  | (35,758 | ) |  | — |  |  | (35,758 | )
(Repayments) borrowings of other debt, net | (31,500 | ) |  | (3,457 | ) |  | 5,261 |  |  | — |  |  | (29,696 | )
Payments of other obligations | — |  |  | (21,896 | ) |  | (895 | ) |  | — |  |  | (22,791 | )
Investment and intercompany note activity with parent | — |  |  | 60,910 |  |  | 5,802 |  |  | (66,712 | ) |  | — |
Dividends | — |  |  | (248,313 | ) |  | — |  |  | 248,313 |  |  | — |
Net cash used in financing activities | (178,968 | ) |  | (212,756 | ) |  | (13,969 | ) |  | 181,601 |  |  | (224,092 | )
Effect of exchange rate changes on cash and equivalents | — |  |  | 48 |  |  | (3,008 | ) |  | — |  |  | (2,960 | )
Net increase (decrease) in cash and equivalents | 2,686 |  |  | (18,671 | ) |  | (11,223 | ) |  | — |  |  | (27,208 | )
Cash and equivalents, beginning of period | 14,930 |  |  | 32,103 |  |  | 67,572 |  |  | — |  |  | 114,605 |
Cash and equivalents, end of period | $ | 17,616 |  |  | $ | 13,432 |  |  | $ | 56,349 |  |  | $ | — |  |  | $ | 87,397 |
LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows (In thousands)
| Year Ended December 31, 2014
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 271,221 |  |  | $ | 427,249 |  |  | $ | (53,348 | ) |  | $ | (274,225 | ) |  | $ | 370,897 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Purchases of property and equipment | (44 | ) |  | (85,182 | ) |  | (55,724 | ) |  | — |  |  | (140,950 | )
Investment and intercompany note activity with subsidiaries | (477,007 | ) |  | (608 | ) |  | — |  |  | 477,615 |  |  | — |
Acquisitions, net of cash acquired | — |  |  | (635,171 | ) |  | (140,750 | ) |  | — |  |  | (775,921 | )
Other investing activities, net | — |  |  | 768 |  |  | (4,891 | ) |  | — |  |  | (4,123 | )
Net cash used in investing activities | (477,051 | ) |  | (720,193 | ) |  | (201,365 | ) |  | 477,615 |  |  | (920,994 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Proceeds from exercise of stock options | 9,324 |  |  | — |  |  | — |  |  | — |  |  | 9,324 |
Excess tax benefit from stock-based payments | 17,814 |  |  | — |  |  | — |  |  | — |  |  | 17,814 |
Taxes paid related to net share settlements of stock-based compensation awards | (443 | ) |  | — |  |  | — |  |  | — |  |  | (443 | )
Debt issuance costs | (3,675 | ) |  | — |  |  | (75 | ) |  | — |  |  | (3,750 | )
Borrowings under revolving credit facilities | 867,000 |  |  | — |  |  | 720,644 |  |  | — |  |  | 1,587,644 |
Repayments under revolving credit facilities | (727,000 | ) |  | — |  |  | (371,518 | ) |  | — |  |  | (1,098,518 | )
Borrowings under term loans | 11,250 |  |  | — |  |  | — |  |  | — |  |  | 11,250 |
Repayments under term loans | (16,875 | ) |  | — |  |  | — |  |  | — |  |  | (16,875 | )
Borrowings under receivables securitization facility | — |  |  | — |  |  | 95,050 |  |  | — |  |  | 95,050 |
Repayments under receivables securitization facility | — |  |  | — |  |  | (150 | ) |  | — |  |  | (150 | )
Repayments of other debt, net | (1,921 | ) |  | (2,310 | ) |  | (35,820 | ) |  | — |  |  | (40,051 | )
Payments of other obligations | — |  |  | (464 | ) |  | (41,528 | ) |  | — |  |  | (41,992 | )
Other financing activities, net | (12,640 | ) |  | 12,340 |  |  | — |  |  | — |  |  | (300 | )
Investment and intercompany note activity with parent | — |  |  | 576,384 |  |  | (98,769 | ) |  | (477,615 | ) |  | — |
Dividends | — |  |  | (274,225 | ) |  | — |  |  | 274,225 |  |  | — |
Net cash provided by financing activities | 142,834 |  |  | 311,725 |  |  | 267,834 |  |  | (203,390 | ) |  | 519,003 |
Effect of exchange rate changes on cash and equivalents | — |  |  | (371 | ) |  | (4,418 | ) |  | — |  |  | (4,789 | )
Net (decrease) increase in cash and equivalents | (62,996 | ) |  | 18,410 |  |  | 8,703 |  |  | — |  |  | (35,883 | )
Cash and equivalents, beginning of period | 77,926 |  |  | 13,693 |  |  | 58,869 |  |  | — |  |  | 150,488 |
Cash and equivalents, end of period | $ | 14,930 |  |  | $ | 32,103 |  |  | $ | 67,572 |  |  | $ | — |  |  | $ | 114,605 |
LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows (In thousands)
| Year Ended December 31, 2013
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 160,620 |  |  | $ | 260,567 |  |  | $ | 126,681 |  |  | $ | (119,812 | ) |  | $ | 428,056 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Purchases of property and equipment | — |  |  | (57,219 | ) |  | (32,967 | ) |  | — |  |  | (90,186 | )
Investment and intercompany note activity with subsidiaries | (434,172 | ) |  | (84,894 | ) |  | — |  |  | 519,066 |  |  | — |
Acquisitions, net of cash acquired | — |  |  | (33,436 | ) |  | (374,948 | ) |  | — |  |  | (408,384 | )
Other investing activities, net | — |  |  | 1,191 |  |  | (8,227 | ) |  | — |  |  | (7,036 | )
Net cash used in investing activities | (434,172 | ) |  | (174,358 | ) |  | (416,142 | ) |  | 519,066 |  |  | (505,606 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Proceeds from exercise of stock options | 15,392 |  |  | — |  |  | — |  |  | — |  |  | 15,392 |
Excess tax benefit from stock-based payments | 18,348 |  |  | — |  |  | — |  |  | — |  |  | 18,348 |
Debt issuance costs | (16,858 | ) |  | — |  |  | (82 | ) |  | — |  |  | (16,940 | )
Proceeds from issuance of senior notes | 600,000 |  |  | — |  |  | — |  |  | — |  |  | 600,000 |
Borrowings under revolving credit facilities | 315,000 |  |  | — |  |  | 122,023 |  |  | — |  |  | 437,023 |
Repayments under revolving credit facilities | (616,000 | ) |  | — |  |  | (132,086 | ) |  | — |  |  | (748,086 | )
Borrowings under term loans | 35,000 |  |  | — |  |  | — |  |  | — |  |  | 35,000 |
Repayments under term loans | (16,875 | ) |  | — |  |  | — |  |  | — |  |  | (16,875 | )
Borrowings under receivables securitization facility | — |  |  | — |  |  | 41,500 |  |  | — |  |  | 41,500 |
Repayments under receivables securitization facility | — |  |  | — |  |  | (121,500 | ) |  | — |  |  | (121,500 | )
Repayments of other debt, net | (925 | ) |  | (8,930 | ) |  | (35,207 | ) |  | — |  |  | (45,062 | )
Payments of other obligations | — |  |  | (473 | ) |  | (32,386 | ) |  | — |  |  | (32,859 | )
Investment and intercompany note activity with parent | — |  |  | 38,446 |  |  | 480,620 |  |  | (519,066 | ) |  | — |
Dividends | — |  |  | (119,812 | ) |  | — |  |  | 119,812 |  |  | — |
Net cash provided by (used in) financing activities | 333,082 |  |  | (90,769 | ) |  | 322,882 |  |  | (399,254 | ) |  | 165,941 |
Effect of exchange rate changes on cash and equivalents | — |  |  | — |  |  | 2,327 |  |  | — |  |  | 2,327 |
Net increase (decrease) in cash and equivalents | 59,530 |  |  | (4,560 | ) |  | 35,748 |  |  | — |  |  | 90,718 |
Cash and equivalents, beginning of period | 18,396 |  |  | 18,253 |  |  | 23,121 |  |  | — |  |  | 59,770 |
Cash and equivalents, end of period | $ | 77,926 |  |  | $ | 13,693 |  |  | $ | 58,869 |  |  | $ | — |  |  | $ | 150,488 |

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