Segment and Geographic Information (Tables)

9 Months Ended

Sep. 30, 2017

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

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):

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

The following table sets forth our revenue by geographic area (in thousands):

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

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