We have four operating segments: Wholesale – North America, Europe, Specialty and Self Service. 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. Our reportable segments are organized based on a combination of geographic areas served and type of product lines offered. The reportable segments are managed separately as each business serves different customers (i.e. geographic in the case of North America and Europe and product type in the case of Specialty) and is affected by different economic conditions. Therefore, we present three reportable segments: North America, Europe and Specialty.

The following tables present our financial performance by reportable segment for the periods indicated (in thousands):



	North America ⁽¹⁾		Europe		Specialty ⁽¹⁾		Eliminations			Consolidated
Three Months Ended September 30, 2017
Revenue:
Third Party	$	1,181,756	$	954,522	$	329,522	$	—		$	2,465,800
Intersegment	187		—		1,072		(1,259		)	—
Total segment revenue	$	1,181,943	$	954,522	$	330,594	$	(1,259	)	$	2,465,800
Segment EBITDA	$	152,627	$	79,294	$	35,114	$	—		$	267,035
Depreciation and amortization⁽²⁾	22,104		32,326		5,472		—			59,902
Three Months Ended September 30, 2016
Revenue:
Third Party	$	1,118,421	$	770,219	$	318,703	$	—		$	2,207,343
Intersegment	200		—		969		(1,169		)	—
Total segment revenue	$	1,118,621	$	770,219	$	319,672	$	(1,169	)	$	2,207,343
Segment EBITDA	$	139,738	$	72,586	$	34,115	$	—		$	246,439
Depreciation and amortization⁽²⁾	21,499		27,792		5,745		—			55,036



	North America ⁽¹⁾		Europe		Specialty ⁽¹⁾		Eliminations			Consolidated
Nine Months Ended September 30, 2017
Revenue:
Third Party	$	3,596,108	$	2,665,170	$	1,005,776	$	—		$	7,267,054
Intersegment	589		—		3,222		(3,811		)	—
Total segment revenue	$	3,596,697	$	2,665,170	$	1,008,998	$	(3,811	)	$	7,267,054
Segment EBITDA	$	502,494	$	241,537	$	119,133	$	—		$	863,164
Depreciation and amortization⁽²⁾	64,305		85,809		16,394		—			166,508
Nine Months Ended September 30, 2016
Revenue:
Third Party	$	3,336,240	$	2,141,186	$	956,199	$	—		$	6,433,625
Intersegment	607		—		3,014		(3,621		)	—
Total segment revenue	$	3,336,847	$	2,141,186	$	959,213	$	(3,621	)	$	6,433,625
Segment EBITDA	$	451,504	$	220,066	$	111,083	$	—		$	782,653
Depreciation and amortization⁽²⁾	59,174		66,380		16,616		—			142,170


(1)	In the first quarter of 2017, we realigned a portion of our North America operations under our Specialty segment. Prior year results have been recast to reflect the shift in reporting structure in order to present segment results on a comparable basis.


(2)	Amounts presented include depreciation and amortization expense recorded within cost of goods sold.

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 general and administrative expenses are allocated to the segments based on usage, with shared expenses apportioned based on the segment's percentage of consolidated revenue. We calculate Segment EBITDA as EBITDA excluding restructuring and acquisition related expenses, change in fair value of contingent consideration liabilities, other acquisition related gains and losses and equity in earnings (loss) of unconsolidated subsidiaries. EBITDA, which is the basis for Segment EBITDA, is calculated as net income excluding discontinued operations, depreciation, amortization, interest (which includes loss on debt extinguishment) and income tax expense.

The table below provides a reconciliation of Net Income to Segment EBITDA (in thousands):



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017			2016
Net income	$	122,381	$	122,688	$	409,573		$	377,644
Subtract:
Income (loss) from discontinued operations, net of tax	—		12,844		(4,531		)	17,819
Income from continuing operations	122,381		109,844		414,104			359,825
Add:
Depreciation and amortization	56,877		52,979		159,178			137,168
Depreciation and amortization - cost of goods sold	3,025		2,057		7,330			5,002
Interest expense, net	25,222		24,761		73,806			64,002
Loss on debt extinguishment	—		—		—			26,650
Provision for income taxes	58,189		49,835		206,206			173,225
EBITDA	265,694		239,476		860,624			765,872
Subtract:
Equity in earnings (loss) of unconsolidated subsidiaries	2,673		29		3,878			(519		)
Gains on foreign exchange contracts - acquisition related ⁽¹⁾	—		—		—			18,342
Gains on bargain purchases ⁽²⁾	913		—		3,990			—
Add:
Restructuring and acquisition related expenses ⁽³⁾	4,922		6,923		10,371			30,814
Inventory step-up adjustment - acquisition related ⁽⁴⁾	—		12		—			3,614
Change in fair value of contingent consideration liabilities	5		57		37			176
Segment EBITDA	$	267,035	$	246,439	$	863,164		$	782,653


(1)	Reflects gains on foreign currency forwards used to fix the euro purchase price of Rhiag. See Note 2, "Business Combinations," for further information.


(2)	Reflects the gains on bargain purchases related to our acquisitions of Andrew Page and a wholesale business in Europe. See Note 2, "Business Combinations," for further information.


(3)	See Note 5, "Restructuring and Acquisition Related Expenses," for further information.


(4)	Reflects the impact on Cost of Goods Sold of the step-up acquisition adjustment to record PGW inventory at its fair value.

The following table presents capital expenditures by reportable segment (in thousands):



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Capital Expenditures
North America	$	31,021	$	24,420	$	69,934	$	68,271
Europe	12,119		16,554		55,253		57,105
Specialty	852		582		6,752		11,235
Discontinued operations	—		8,871		3,598		16,135
Total capital expenditures	$	43,992	$	50,427	$	135,537	$	152,746

The following table presents assets by reportable segment (in thousands):



	September 30,		December 31,
	2017		2016 ⁽¹⁾
Receivables, net
North America	$	380,463	$	351,681
Europe	551,862		443,281
Specialty	89,403		65,587
Total receivables, net	1,021,728		860,549
Inventories
North America	1,021,386		915,244
Europe	929,006		718,729
Specialty	285,984		301,264
Total inventories	2,236,376		1,935,237
Property and Equipment, net
North America	524,738		505,925
Europe	286,364		247,910
Specialty	56,870		57,741
Total property and equipment, net	867,972		811,576
Equity Method Investments
North America	336		336
Europe	198,910		183,131
Total equity method investments	199,246		183,467
Other unallocated assets	4,538,616		4,512,370
Total assets	$	8,863,938	$	8,303,199


(1)	In the first quarter of 2017, we realigned a portion of our North America operations under our Specialty segment. Prior year amounts have been recast to reflect the shift in reporting structure.

We report net receivables, inventories, net property and equipment, and equity method investments 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, assets of discontinued operations and income taxes.

The majority of our operations are conducted in the U.S. Our European operations are located in the U.K., the Netherlands, Belgium, France, Italy, Czech Republic, Switzerland, Poland, Hungary, Romania, Ukraine, Bulgaria, Slovakia, Spain, Sweden, Norway and Germany. 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 administrative support functions in India. 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				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Revenue
United States	$	1,395,495	$	1,336,851	$	4,268,600	$	3,997,525
United Kingdom	399,155		336,168		1,171,829		1,044,110
Other countries	671,150		534,324		1,826,625		1,391,990
Total revenue	$	2,465,800	$	2,207,343	$	7,267,054	$	6,433,625

The following table sets forth our tangible long-lived assets by geographic area (in thousands):



	September 30,		December 31,
	2017		2016
Long-lived Assets
United States	$	547,536	$	531,425
United Kingdom	178,583		159,689
Other countries	141,853		120,462
Total long-lived assets	$	867,972	$	811,576

The following table sets forth our revenue by product category (in thousands):



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Aftermarket, other new and refurbished products	$	1,875,369	$	1,670,960	$	5,496,004	$	4,809,775
Recycled, remanufactured and related products and services	458,388		424,876		1,376,577		1,290,488
Other	132,043		111,507		394,473		333,362
Total revenue	$	2,465,800	$	2,207,343	$	7,267,054	$	6,433,625

Our North America reportable segment generates revenue from all of our product categories, while our Europe 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.