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Condensed Consolidating Financial Information (Tables) | 9 Months Ended
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Sep. 30, 2017
Condensed Consolidating Financial Information [Abstract] |
Consolidated Condensed Balance Sheets |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Balance Sheets (In thousands)
| September 30, 2017
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 20,286 |  |  | $ | 22,413 |  |  | $ | 232,378 |  |  | $ | — |  |  | $ | 275,077 |
Receivables, net | — |  |  | 302,789 |  |  | 718,939 |  |  | — |  |  | 1,021,728 |
Intercompany receivables, net | 3,463 |  |  | — |  |  | 12,110 |  |  | (15,573 | ) |  | — |
Inventories | — |  |  | 1,232,897 |  |  | 1,003,479 |  |  | — |  |  | 2,236,376 |
Prepaid expenses and other current assets | 23,213 |  |  | 43,617 |  |  | 68,362 |  |  | — |  |  | 135,192 |
Total current assets | 46,962 |  |  | 1,601,716 |  |  | 2,035,268 |  |  | (15,573 | ) |  | 3,668,373 |
Property and equipment, net | 658 |  |  | 548,598 |  |  | 318,716 |  |  | — |  |  | 867,972 |
Intangible assets: |  |  |  |  |  |  |  |  |
Goodwill | — |  |  | 1,888,002 |  |  | 1,504,361 |  |  | — |  |  | 3,392,363 |
Other intangibles, net | — |  |  | 144,358 |  |  | 458,066 |  |  | — |  |  | 602,424 |
Investment in subsidiaries | 5,505,206 |  |  | 99,089 |  |  | — |  |  | (5,604,295 | ) |  | — |
Intercompany notes receivable | 1,173,923 |  |  | 771,962 |  |  | — |  |  | (1,945,885 | ) |  | — |
Equity method investments | — |  |  | 336 |  |  | 198,910 |  |  | — |  |  | 199,246 |
Other assets | 62,566 |  |  | 33,894 |  |  | 38,292 |  |  | (1,192 | ) |  | 133,560 |
Total assets | $ | 6,789,315 |  |  | $ | 5,087,955 |  |  | $ | 4,553,613 |  |  | $ | (7,566,945 | ) |  | $ | 8,863,938 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 2,108 |  |  | $ | 298,832 |  |  | $ | 448,912 |  |  | $ | — |  |  | $ | 749,852 |
Intercompany payables, net | — |  |  | 12,110 |  |  | 3,463 |  |  | (15,573 | ) |  | — |
Accrued expenses: |  |  |  |  |  |  |  |  |
Accrued payroll-related liabilities | 8,963 |  |  | 42,446 |  |  | 69,166 |  |  | — |  |  | 120,575 |
Other accrued expenses | 12,209 |  |  | 97,493 |  |  | 143,539 |  |  | — |  |  | 253,241 |
Other current liabilities | 283 |  |  | 24,547 |  |  | 26,953 |  |  | — |  |  | 51,783 |
Current portion of long-term obligations | 36,397 |  |  | 1,868 |  |  | 88,622 |  |  | — |  |  | 126,887 |
Total current liabilities | 59,960 |  |  | 477,296 |  |  | 780,655 |  |  | (15,573 | ) |  | 1,302,338 |
Long-term obligations, excluding current portion | 1,837,860 |  |  | 6,696 |  |  | 1,177,161 |  |  | — |  |  | 3,021,717 |
Intercompany notes payable | 750,000 |  |  | 697,814 |  |  | 498,071 |  |  | (1,945,885 | ) |  | — |
Deferred income taxes | — |  |  | 118,169 |  |  | 124,567 |  |  | (1,192 | ) |  | 241,544 |
Other noncurrent liabilities | 100,458 |  |  | 113,371 |  |  | 43,473 |  |  | — |  |  | 257,302 |
Total stockholders’ equity | 4,041,037 |  |  | 3,674,609 |  |  | 1,929,686 |  |  | (5,604,295 | ) |  | 4,041,037 |
Total liabilities and stockholders' equity | $ | 6,789,315 |  |  | $ | 5,087,955 |  |  | $ | 4,553,613 |  |  | $ | (7,566,945 | ) |  | $ | 8,863,938 |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Balance Sheets (In thousands)
| December 31, 2016
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 33,030 |  |  | $ | 35,360 |  |  | $ | 159,010 |  |  | $ | — |  |  | $ | 227,400 |
Receivables, net | — |  |  | 248,188 |  |  | 612,361 |  |  | — |  |  | 860,549 |
Intercompany receivables, net | 2,805 |  |  | 11,237 |  |  | 8,837 |  |  | (22,879 | ) |  | — |
Inventories | — |  |  | 1,149,763 |  |  | 785,474 |  |  | — |  |  | 1,935,237 |
Prepaid expenses and other current assets | 1,640 |  |  | 43,165 |  |  | 42,963 |  |  | — |  |  | 87,768 |
Assets of discontinued operations | — |  |  | 357,788 |  |  | 98,852 |  |  | — |  |  | 456,640 |
Total current assets | 37,475 |  |  | 1,845,501 |  |  | 1,707,497 |  |  | (22,879 | ) |  | 3,567,594 |
Property and equipment, net | 239 |  |  | 527,705 |  |  | 283,632 |  |  | — |  |  | 811,576 |
Intangible assets: |  |  |  |  |  |  |  |  |
Goodwill | — |  |  | 1,851,274 |  |  | 1,203,495 |  |  | — |  |  | 3,054,769 |
Other intangibles, net | — |  |  | 153,689 |  |  | 430,542 |  |  | — |  |  | 584,231 |
Investment in subsidiaries | 5,067,297 |  |  | 242,032 |  |  | — |  |  | (5,309,329 | ) |  | — |
Intercompany notes receivable | 1,510,534 |  |  | 800,283 |  |  | — |  |  | (2,310,817 | ) |  | — |
Equity method investments | — |  |  | 336 |  |  | 183,131 |  |  | — |  |  | 183,467 |
Other assets | 59,726 |  |  | 25,177 |  | — |  | 22,347 |  |  | (5,688 | ) | — |  | 101,562 |
Total assets | $ | 6,675,271 |  |  | $ | 5,445,997 |  |  | $ | 3,830,644 |  |  | $ | (7,648,713 | ) |  | $ | 8,303,199 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 1,309 |  |  | $ | 244,074 |  |  | $ | 388,390 |  |  | $ | — |  |  | $ | 633,773 |
Intercompany payables, net | 11,237 |  |  | 8,837 |  |  | 2,805 |  |  | (22,879 | ) |  | — |
Accrued expenses: |  |  |  |  |  |  |  |  |
Accrued payroll-related liabilities | 6,404 |  |  | 58,187 |  |  | 54,164 |  |  | — |  |  | 118,755 |
Other accrued expenses | 5,502 |  |  | 94,287 |  |  | 109,312 |  |  | — |  |  | 209,101 |
Other current liabilities | 4,283 |  |  | 18,456 |  |  | 15,204 |  |  | — |  |  | 37,943 |
Current portion of long-term obligations | 37,710 |  |  | 1,097 |  |  | 27,302 |  |  | — |  |  | 66,109 |
Liabilities of discontinued operations | — |  |  | 110,890 |  |  | 34,214 |  |  | — |  |  | 145,104 |
Total current liabilities | 66,445 |  |  | 535,828 |  |  | 631,391 |  |  | (22,879 | ) |  | 1,210,785 |
Long-term obligations, excluding current portion | 2,371,578 |  |  | 8,356 |  |  | 895,728 |  |  | — |  |  | 3,275,662 |
Intercompany notes payable | 750,000 |  |  | 1,074,218 |  |  | 486,599 |  |  | (2,310,817 | ) |  | — |
Deferred income taxes | — |  |  | 95,765 |  |  | 109,580 |  |  | (5,688 | ) |  | 199,657 |
Other noncurrent liabilities | 44,299 |  |  | 90,722 |  |  | 39,125 |  |  | — |  |  | 174,146 |
Total stockholders’ equity | 3,442,949 |  |  | 3,641,108 |  |  | 1,668,221 |  |  | (5,309,329 | ) |  | 3,442,949 |
Total liabilities and stockholders' equity | $ | 6,675,271 |  |  | $ | 5,445,997 |  |  | $ | 3,830,644 |  |  | $ | (7,648,713 | ) |  | $ | 8,303,199 |
Consolidated Condensed Statements of Income |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Income (In thousands)
| For the Three Months Ended September 30, 2017
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Revenue | $ | — |  |  | $ | 1,433,742 |  |  | $ | 1,069,682 |  |  | $ | (37,624 | ) |  | $ | 2,465,800 |
Cost of goods sold | — |  |  | 861,078 |  |  | 685,470 |  |  | (37,624 | ) |  | 1,508,924 |
Gross margin | — |  |  | 572,664 |  |  | 384,212 |  |  | — |  |  | 956,876 |
Facility and warehouse expenses | — |  |  | 132,179 |  |  | 70,335 |  |  | — |  |  | 202,514 |
Distribution expenses | — |  |  | 125,120 |  |  | 77,709 |  |  | — |  |  | 202,829 |
Selling, general and administrative expenses | 7,861 |  |  | 137,627 |  |  | 145,147 |  |  | — |  |  | 290,635 |
Restructuring and acquisition related expenses | — |  |  | 1,473 |  |  | 3,449 |  |  | — |  |  | 4,922 |
Depreciation and amortization | 29 |  |  | 25,005 |  |  | 31,843 |  |  | — |  |  | 56,877 |
Operating (loss) income | (7,890 | ) |  | 151,260 |  |  | 55,729 |  |  | — |  |  | 199,099 |
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense, net | 16,232 |  |  | 57 |  |  | 8,933 |  |  | — |  |  | 25,222 |
Intercompany interest (income) expense, net | (2,389 | ) |  | (2,814 | ) |  | 5,203 |  |  | — |  |  | — |
Gains on bargain purchases | — |  |  | — |  |  | (913 | ) |  | — |  |  | (913 | )
Other expense (income), net | 32 |  |  | (4,011 | ) |  | 872 |  |  | — |  |  | (3,107 | )
Total other expense (income), net | 13,875 |  |  | (6,768 | ) |  | 14,095 |  |  | — |  |  | 21,202 |
(Loss) income from continuing operations before (benefit) provision for income taxes | (21,765 | ) |  | 158,028 |  |  | 41,634 |  |  | — |  |  | 177,897 |
(Benefit) provision for income taxes | (8,436 | ) |  | 56,920 |  |  | 9,705 |  |  | — |  |  | 58,189 |
Equity in earnings of unconsolidated subsidiaries | — |  |  | — |  |  | 2,673 |  |  | — |  |  | 2,673 |
Equity in earnings of subsidiaries | 135,710 |  |  | 6,674 |  |  | — |  |  | (142,384 | ) |  | — |
Net income | $ | 122,381 |  |  | $ | 107,782 |  |  | $ | 34,602 |  |  | $ | (142,384 | ) |  | $ | 122,381 |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Income (In thousands)
| For the Three Months Ended September 30, 2016
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Revenue | $ | — |  |  | $ | 1,410,180 |  |  | $ | 868,990 |  |  | $ | (71,827 | ) |  | $ | 2,207,343 |
Cost of goods sold | — |  |  | 865,072 |  |  | 558,654 |  |  | (71,827 | ) |  | 1,351,899 |
Gross margin | — |  |  | 545,108 |  |  | 310,336 |  |  | — |  |  | 855,444 |
Facility and warehouse expenses | — |  |  | 122,237 |  |  | 59,007 |  |  | — |  |  | 181,244 |
Distribution expenses | — |  |  | 120,049 |  |  | 52,516 |  |  | — |  |  | 172,565 |
Selling, general and administrative expenses | 8,095 |  |  | 133,611 |  |  | 116,626 |  |  | — |  |  | 258,332 |
Restructuring and acquisition related expenses | — |  |  | 5,777 |  |  | 1,146 |  |  | — |  |  | 6,923 |
Depreciation and amortization | 32 |  |  | 24,880 |  |  | 28,067 |  |  | — |  |  | 52,979 |
Operating (loss) income | (8,127 | ) |  | 138,554 |  |  | 52,974 |  |  | — |  |  | 183,401 |
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense, net | 15,825 |  |  | 610 |  |  | 8,326 |  |  | — |  |  | 24,761 |
Intercompany interest (income) expense, net | (8,796 | ) |  | 5,030 |  |  | 3,766 |  |  | — |  |  | — |
Other expense (income), net | 17 |  |  | (3,122 | ) |  | 2,095 |  |  | — |  |  | (1,010 | )
Total other expense, net | 7,046 |  |  | 2,518 |  |  | 14,187 |  |  | — |  |  | 23,751 |
(Loss) income from continuing operations before (benefit) provision for income taxes | (15,173 | ) |  | 136,036 |  |  | 38,787 |  |  | — |  |  | 159,650 |
(Benefit) provision for income taxes | (9,546 | ) |  | 50,168 |  |  | 9,213 |  |  | — |  |  | 49,835 |
Equity in earnings of unconsolidated subsidiaries | — |  |  | 13 |  |  | 16 |  |  | — |  |  | 29 |
Equity in earnings of subsidiaries | 115,471 |  |  | 4,868 |  |  | — |  |  | (120,339 | ) |  | — |
Income from continuing operations | 109,844 |  |  | 90,749 |  |  | 29,590 |  |  | (120,339 | ) |  | 109,844 |
Income from discontinued operations, net of tax | 12,844 |  |  | 12,844 |  |  | 6,206 |  |  | (19,050 | ) |  | 12,844 |
Net income | $ | 122,688 |  |  | $ | 103,593 |  |  | $ | 35,796 |  |  | $ | (139,389 | ) |  | $ | 122,688 |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Income (In thousands)
| For the Nine Months Ended September 30, 2017
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Revenue | $ | — |  |  | $ | 4,374,693 |  |  | $ | 3,001,386 |  |  | $ | (109,025 | ) |  | $ | 7,267,054 |
Cost of goods sold | — |  |  | 2,613,540 |  |  | 1,910,561 |  |  | (109,025 | ) |  | 4,415,076 |
Gross margin | — |  |  | 1,761,153 |  |  | 1,090,825 |  |  | — |  |  | 2,851,978 |
Facility and warehouse expenses | — |  |  | 389,314 |  |  | 193,916 |  |  | — |  |  | 583,230 |
Distribution expenses | — |  |  | 367,134 |  |  | 215,897 |  |  | — |  |  | 583,031 |
Selling, general and administrative expenses | 26,209 |  |  | 409,449 |  |  | 401,146 |  |  | — |  |  | 836,804 |
Restructuring and acquisition related expenses | — |  |  | 4,010 |  |  | 6,361 |  |  | — |  |  | 10,371 |
Depreciation and amortization | 89 |  |  | 73,072 |  |  | 86,017 |  |  | — |  |  | 159,178 |
Operating (loss) income | (26,298 | ) |  | 518,174 |  |  | 187,488 |  |  | — |  |  | 679,364 |
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense, net | 48,904 |  |  | 281 |  |  | 24,621 |  |  | — |  |  | 73,806 |
Intercompany interest (income) expense, net | (10,221 | ) |  | (4,530 | ) |  | 14,751 |  |  | — |  |  | — |
Gains on bargain purchases | — |  |  | — |  |  | (3,990 | ) |  | — |  |  | (3,990 | )
Other expense (income), net | 286 |  |  | (8,247 | ) |  | 1,077 |  |  | — |  |  | (6,884 | )
Total other expense (income), net | 38,969 |  |  | (12,496 | ) |  | 36,459 |  |  | — |  |  | 62,932 |
(Loss) income from continuing operations before (benefit) provision for income taxes | (65,267 | ) |  | 530,670 |  |  | 151,029 |  |  | — |  |  | 616,432 |
(Benefit) provision for income taxes | (27,034 | ) |  | 200,321 |  |  | 32,919 |  |  | — |  |  | 206,206 |
Equity in earnings of unconsolidated subsidiaries | — |  |  | — |  |  | 3,878 |  |  | — |  |  | 3,878 |
Equity in earnings of subsidiaries | 452,337 |  |  | 17,282 |  |  | — |  |  | (469,619 | ) |  | — |
Income from continuing operations | 414,104 |  |  | 347,631 |  |  | 121,988 |  |  | (469,619 | ) |  | 414,104 |
(Loss) income from discontinued operations, net of tax | (4,531 | ) |  | (4,531 | ) |  | 2,050 |  |  | 2,481 |  |  | (4,531 | )
Net income | $ | 409,573 |  |  | $ | 343,100 |  |  | $ | 124,038 |  |  | $ | (467,138 | ) |  | $ | 409,573 |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Income (In thousands)
| For the Nine Months Ended September 30, 2016
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Revenue | $ | — |  |  | $ | 4,147,572 |  |  | $ | 2,424,379 |  |  | $ | (138,326 | ) |  | $ | 6,433,625 |
Cost of goods sold | — |  |  | 2,512,742 |  |  | 1,537,512 |  |  | (138,326 | ) |  | 3,911,928 |
Gross margin | — |  |  | 1,634,830 |  |  | 886,867 |  |  | — |  |  | 2,521,697 |
Facility and warehouse expenses | — |  |  | 354,877 |  |  | 161,350 |  |  | — |  |  | 516,227 |
Distribution expenses | — |  |  | 342,523 |  |  | 166,711 |  |  | — |  |  | 509,234 |
Selling, general and administrative expenses | 27,361 |  |  | 389,252 |  |  | 310,123 |  |  | — |  |  | 726,736 |
Restructuring and acquisition related expenses | — |  |  | 16,895 |  |  | 13,919 |  |  | — |  |  | 30,814 |
Depreciation and amortization | 101 |  |  | 68,877 |  |  | 68,190 |  |  | — |  |  | 137,168 |
Operating (loss) income | (27,462 | ) |  | 462,406 |  |  | 166,574 |  |  | — |  |  | 601,518 |
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense, net | 44,067 |  |  | 444 |  |  | 19,491 |  |  | — |  |  | 64,002 |
Intercompany interest (income) expense, net | (21,828 | ) |  | 13,996 |  |  | 7,832 |  |  | — |  |  | — |
Loss on debt extinguishment | 2,894 |  |  | — |  |  | 23,756 |  |  | — |  |  | 26,650 |
Gains on foreign exchange contracts - acquisition related | (18,342 | ) |  | — |  |  | — |  |  | — |  |  | (18,342 | )
Other (income) expense, net | (61 | ) |  | (7,464 | ) |  | 3,164 |  |  | — |  |  | (4,361 | )
Total other expense, net | 6,730 |  |  | 6,976 |  |  | 54,243 |  |  | — |  |  | 67,949 |
(Loss) income from continuing operations before (benefit) provision for income taxes | (34,192 | ) |  | 455,430 |  |  | 112,331 |  |  | — |  |  | 533,569 |
(Benefit) provision for income taxes | (19,103 | ) |  | 168,296 |  |  | 24,032 |  |  | — |  |  | 173,225 |
Equity in (loss) earnings of unconsolidated subsidiaries | (795 | ) |  | 32 |  |  | 244 |  |  | — |  |  | (519 | )
Equity in earnings of subsidiaries | 375,709 |  |  | 15,270 |  |  | — |  |  | (390,979 | ) |  | — |
Income from continuing operations | 359,825 |  |  | 302,436 |  |  | 88,543 |  |  | (390,979 | ) |  | 359,825 |
Income from discontinued operations, net of tax | 17,819 |  |  | 17,819 |  |  | 8,177 |  |  | (25,996 | ) |  | 17,819 |
Net income | $ | 377,644 |  |  | $ | 320,255 |  |  | $ | 96,720 |  |  | $ | (416,975 | ) |  | $ | 377,644 |
Consolidated Condensed Statements of Comprehensive Income (Loss) |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Comprehensive Income (In thousands)
| For the Three Months Ended September 30, 2017
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net income | $ | 122,381 |  |  | $ | 107,782 |  |  | $ | 34,602 |  |  | $ | (142,384 | ) |  | $ | 122,381 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Foreign currency translation | 59,618 |  |  | 3,590 |  |  | 62,734 |  |  | (66,324 | ) |  | 59,618 |
Net change in unrecognized gains/losses on derivative instruments, net of tax | (1,776 | ) |  | — |  |  | — |  |  | — |  |  | (1,776 | )
Net change in unrealized gains/losses on pension plans, net of tax | (150 | ) |  | — |  |  | (150 | ) |  | 150 |  |  | (150 | )
Net change in other comprehensive loss from unconsolidated subsidiaries | (1,034 | ) |  | — |  |  | (1,034 | ) |  | 1,034 |  |  | (1,034 | )
Total other comprehensive income | 56,658 |  |  | 3,590 |  |  | 61,550 |  |  | (65,140 | ) |  | 56,658 |
Total comprehensive income | $ | 179,039 |  |  | $ | 111,372 |  |  | $ | 96,152 |  |  | $ | (207,524 | ) |  | $ | 179,039 |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Comprehensive Income (In thousands)
| For the Three Months Ended September 30, 2016
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net income | $ | 122,688 |  |  | $ | 103,593 |  |  | $ | 35,796 |  |  | $ | (139,389 | ) |  | $ | 122,688 |
Other comprehensive (loss) income: |  |  |  |  |  |  |  |  |
Foreign currency translation | (12,317 | ) |  | (9,372 | ) |  | (11,450 | ) |  | 20,822 |  |  | (12,317 | )
Net change in unrecognized gains/losses on derivative instruments, net of tax | 3,059 |  |  | 170 |  |  | 318 |  |  | (488 | ) |  | 3,059 |
Net change in unrealized gains/losses on pension plans, net of tax | 94 |  |  | — |  |  | 94 |  |  | (94 | ) |  | 94 |
Total other comprehensive loss | (9,164 | ) |  | (9,202 | ) |  | (11,038 | ) |  | 20,240 |  |  | (9,164 | )
Total comprehensive income | $ | 113,524 |  |  | $ | 94,391 |  |  | $ | 24,758 |  |  | $ | (119,149 | ) |  | $ | 113,524 |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Comprehensive Income (In thousands)
| For the Nine Months Ended September 30, 2017
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net income | $ | 409,573 |  |  | $ | 343,100 |  |  | $ | 124,038 |  |  | $ | (467,138 | ) |  | $ | 409,573 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Foreign currency translation | 174,794 |  |  | 17,565 |  |  | 176,769 |  |  | (194,334 | ) |  | 174,794 |
Net change in unrecognized gains/losses on derivative instruments, net of tax | 457 |  |  | (133 | ) |  | — |  |  | 133 |  |  | 457 |
Net change in unrealized gains/losses on pension plans, net of tax | (4,053 | ) |  | (3,253 | ) |  | (800 | ) |  | 4,053 |  |  | (4,053 | )
Net change in other comprehensive loss from unconsolidated subsidiaries | (1,635 | ) |  | — |  |  | (1,635 | ) |  | 1,635 |  |  | (1,635 | )
Total other comprehensive income | 169,563 |  |  | 14,179 |  |  | 174,334 |  |  | (188,513 | ) |  | 169,563 |
Total comprehensive income | $ | 579,136 |  |  | $ | 357,279 |  |  | $ | 298,372 |  |  | $ | (655,651 | ) |  | $ | 579,136 |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Comprehensive Income (In thousands)
| For the Nine Months Ended September 30, 2016
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net income | $ | 377,644 |  |  | $ | 320,255 |  |  | $ | 96,720 |  |  | $ | (416,975 | ) |  | $ | 377,644 |
Other comprehensive (loss) income: |  |  |  |  |  |  |  |  |
Foreign currency translation | (85,434 | ) |  | (27,343 | ) |  | (88,319 | ) |  | 115,662 |  |  | (85,434 | )
Net change in unrecognized gains/losses on derivative instruments, net of tax | (123 | ) |  | 170 |  |  | 513 |  |  | (683 | ) |  | (123 | )
Net change in unrealized gains/losses on pension plans, net of tax | 361 |  |  | — |  |  | 361 |  |  | (361 | ) |  | 361 |
Total other comprehensive loss | (85,196 | ) |  | (27,173 | ) |  | (87,445 | ) |  | 114,618 |  |  | (85,196 | )
Total comprehensive income | $ | 292,448 |  |  | $ | 293,082 |  |  | $ | 9,275 |  |  | $ | (302,357 | ) |  | $ | 292,448 |
Consolidated Condensed Statements of Cash Flows |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Cash Flows (In thousands)
| For the Nine Months Ended September 30, 2017
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 227,314 |  |  | $ | 388,509 |  |  | $ | 108,095 |  |  | $ | (274,675 | ) |  | $ | 449,243 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Purchases of property and equipment | (509 | ) |  | (70,292 | ) |  | (64,736 | ) |  | — |  |  | (135,537 | )
Investment and intercompany note activity with subsidiaries | 296,561 |  |  | — |  |  | — |  |  | (296,561 | ) |  | — |
Acquisitions, net of cash acquired | — |  |  | (79,496 | ) |  | (173,171 | ) |  | — |  |  | (252,667 | )
Proceeds from disposals of business/investment | — |  |  | 305,740 |  |  | (4,443 | ) |  | — |  |  | 301,297 |
Other investing activities, net | — |  |  | 900 |  |  | 1,850 |  |  | — |  |  | 2,750 |
Net cash provided by (used in) investing activities | 296,052 |  |  | 156,852 |  |  | (240,500 | ) |  | (296,561 | ) |  | (84,157 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Proceeds from exercise of stock options | 6,465 |  |  | — |  |  | — |  |  | — |  |  | 6,465 |
Taxes paid related to net share settlements of stock-based compensation awards | (5,095 | ) |  | — |  |  | — |  |  | — |  |  | (5,095 | )
Borrowings under revolving credit facilities | 187,000 |  |  | — |  |  | 237,976 |  |  | — |  |  | 424,976 |
Repayments under revolving credit facilities | (694,896 | ) |  | — |  |  | (75,988 | ) |  | — |  |  | (770,884 | )
Repayments under term loans | (27,884 | ) |  | — |  |  | — |  |  | — |  |  | (27,884 | )
Borrowings under receivables securitization facility | — |  |  | — |  |  | 8,525 |  |  | — |  |  | 8,525 |
Repayments under receivables securitization facility | — |  |  | — |  |  | (9,925 | ) |  | — |  |  | (9,925 | )
(Repayments) borrowings of other debt, net | (1,700 | ) |  | (1,238 | ) |  | 27,460 |  |  | — |  |  | 24,522 |
Payments of other obligations | — |  |  | (1,336 | ) |  | (743 | ) |  | — |  |  | (2,079 | )
Other financing activities, net | — |  |  | 5,000 |  |  | (684 | ) |  | — |  |  | 4,316 |
Investment and intercompany note activity with parent | — |  |  | (286,530 | ) |  | (10,031 | ) |  | 296,561 |  |  | — |
Dividends | — |  |  | (274,675 | ) |  | — |  |  | 274,675 |  |  | — |
Net cash (used in) provided by financing activities | (536,110 | ) |  | (558,779 | ) |  | 176,590 |  |  | 571,236 |  |  | (347,063 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | 322 |  |  | 22,216 |  |  | — |  |  | 22,538 |
Net (decrease) increase in cash and cash equivalents | (12,744 | ) |  | (13,096 | ) |  | 66,401 |  |  | — |  |  | 40,561 |
Cash and cash equivalents of continuing operations, beginning of period | 33,030 |  |  | 35,360 |  |  | 159,010 |  |  | — |  |  | 227,400 |
Add: Cash and cash equivalents of discontinued operations, beginning of period | — |  |  | 149 |  |  | 6,967 |  |  | — |  |  | 7,116 |
Cash and cash equivalents of continuing and discontinued operations, beginning of period | 33,030 |  |  | 35,509 |  |  | 165,977 |  |  | — |  |  | 234,516 |
Cash and cash equivalents, end of period | $ | 20,286 |  |  | $ | 22,413 |  |  | $ | 232,378 |  |  | $ | — |  |  | $ | 275,077 |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Cash Flows (In thousands)
| For the Nine Months Ended September 30, 2016
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 240,495 |  |  | $ | 404,164 |  |  | $ | 119,623 |  |  | $ | (240,131 | ) |  | $ | 524,151 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Purchases of property and equipment | (36 | ) |  | (89,917 | ) |  | (62,793 | ) |  | — |  |  | (152,746 | )
Investment and intercompany note activity with subsidiaries | (1,285,939 | ) |  | — |  |  | — |  |  | 1,285,939 |  |  | — |
Acquisitions, net of cash acquired | — |  |  | (666,052 | ) |  | (635,075 | ) |  | — |  |  | (1,301,127 | )
Proceeds from disposals of business/investment | — |  |  | — |  |  | 10,304 |  |  | — |  |  | 10,304 |
Proceeds from foreign exchange contracts | 18,342 |  |  | — |  |  | — |  |  | — |  |  | 18,342 |
Other investing activities, net | — |  |  | (452 | ) |  | 989 |  |  | — |  |  | 537 |
Net cash used in investing activities | (1,267,633 | ) |  | (756,421 | ) |  | (686,575 | ) |  | 1,285,939 |  |  | (1,424,690 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Proceeds from exercise of stock options | 7,525 |  |  | — |  |  | — |  |  | — |  |  | 7,525 |
Taxes paid related to net share settlements of stock-based compensation awards | (4,440 | ) |  | — |  |  | — |  |  | — |  |  | (4,440 | )
Debt issuance costs | (7,079 | ) |  | — |  |  | (9,325 | ) |  | — |  |  | (16,404 | )
Proceeds from issuance of Euro notes | — |  |  | — |  |  | 563,450 |  |  | — |  |  | 563,450 |
Borrowings under revolving credit facilities | 1,304,000 |  |  | — |  |  | 657,702 |  |  | — |  |  | 1,961,702 |
Repayments under revolving credit facilities | (344,000 | ) |  | — |  |  | (895,234 | ) |  | — |  |  | (1,239,234 | )
Borrowings under term loans | 89,317 |  |  | — |  |  | 249,161 |  |  | — |  |  | 338,478 |
Repayments under term loans | (6,247 | ) |  | — |  |  | (3,214 | ) |  | — |  |  | (9,461 | )
Borrowings under receivables securitization facility | — |  |  | — |  |  | 100,480 |  |  | — |  |  | 100,480 |
Repayments under receivables securitization facility | — |  |  | — |  |  | (66,500 | ) |  | — |  |  | (66,500 | )
Repayments of other debt, net | — |  |  | (2,270 | ) |  | (92 | ) |  | — |  |  | (2,362 | )
Payments of Rhiag debt and related payments | — |  |  | — |  |  | (543,347 | ) |  | — |  |  | (543,347 | )
Payments of other obligations | — |  |  | (1,405 | ) |  | — |  |  | — |  |  | (1,405 | )
Investment and intercompany note activity with parent | — |  |  | 612,961 |  |  | 672,978 |  |  | (1,285,939 | ) |  | — |
Dividends | — |  |  | (240,131 | ) |  | — |  |  | 240,131 |  |  | — |
Net cash provided by financing activities | 1,039,076 |  |  | 369,155 |  |  | 726,059 |  |  | (1,045,808 | ) |  | 1,088,482 |
Effect of exchange rate changes on cash and cash equivalents | — |  |  | 3 |  |  | (3,492 | ) |  | — |  |  | (3,489 | )
Net increase in cash and cash equivalents | 11,938 |  |  | 16,901 |  |  | 155,615 |  |  | — |  |  | 184,454 |
Cash and cash equivalents of continuing operations, beginning of period | 17,616 |  |  | 13,432 |  |  | 56,349 |  |  | — |  |  | 87,397 |
Cash and cash equivalents of continuing and discontinued operations, end of period | 29,554 |  |  | 30,333 |  |  | 211,964 |  |  | — |  |  | 271,851 |
Less: Cash and cash equivalents of discontinued operations, end of period | — |  |  | 13,332 |  |  | 494 |  |  | — |  |  | 13,826 |
Cash and cash equivalents, end of period | $ | 29,554 |  |  | $ | 17,001 |  |  | $ | 211,470 |  |  | $ | — |  |  | $ | 258,025 |

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