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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2018

Inventories consist of the following (in thousands):



	March 31,		December 31,
	2018		2017
Aftermarket and refurbished products	$	1,915,537	$	1,877,653
Salvage and remanufactured products	469,648		487,108
Manufactured products	16,124		16,022
Total inventories	$	2,401,309	$	2,380,783

Changes In Carrying Amount Of Goodwill

The changes in the carrying amount of goodwill by reportable segment for the three months ended March 31, 2018 are as follows (in thousands):



	North America			Europe		Specialty			Total
Balance as of January 1, 2018	$	1,709,354		$	1,414,898	$	412,259		$	3,536,511
Business acquisitions and adjustments to previously recorded goodwill	584			259		(4,977		)	(4,134		)
Exchange rate effects	(2,891		)	42,510		202			39,821
Balance as of March 31, 2018	$	1,707,047		$	1,457,667	$	407,484		$	3,572,198

Schedule of Finite-Lived and Indefinite-Lived Intangibles [Table Text Block]

The components of other intangibles, net are as follows (in thousands):



	March 31, 2018		December 31, 2017
Intangible assets subject to amortization	$	658,704	$	664,969
Indefinite-lived intangible assets
Trademarks	81,300		78,800
Other indefinite-lived intangible assets	800		—
Total	$	740,804	$	743,769

Cumulative Impact of ASC 606 on Balance Sheet as of the Beginning of Fiscal Year

The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet for the adoption of ASC 606 was as follows (in thousands):



	Balance as of December 31, 2017		Adjustments Due to ASC 606		Balance as of January 1, 2018
Balance Sheet
Assets
Accounts receivable	$	1,027,106	$	38,511	$	1,065,617
Prepaid expenses and other current assets	134,479		44,508		178,987
Liabilities
Refund liability	—		83,019		83,019

Schedule of Estimated Useful Lives, Finite Lived Intangible Assets [Table Text Block]

Our estimated useful lives for our finite-lived intangible assets are as follows:



	Method of Amortization	Useful Life
Trade names and trademarks	Straight-line	4-30 years
Customer and supplier relationships	Accelerated	6-20 years
Software and other technology related assets	Straight-line	3-15 years
Covenants not to compete	Straight-line	2-5 years

Components Of Other Intangibles

The components of intangible assets subject to amortization are as follows (in thousands):



	March 31, 2018							December 31, 2017
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Trade names and trademarks	$	333,802	$	(79,437	)	$	254,365	$	327,332	$	(75,095	)	$	252,237
Customer and supplier relationships	520,386		(185,417		)	334,969		510,113		(167,532		)	342,581
Software and other technology related assets	129,851		(65,070		)	64,781		124,049		(59,081		)	64,968
Covenants not to compete	13,920		(9,331		)	4,589		14,981		(9,798		)	5,183
Total	$	997,959	$	(339,255	)	$	658,704	$	976,475	$	(311,506	)	$	664,969

Cumulative Effect of Adoption of ASC 606 on Consolidated Financial Statements

The impact of the adoption of ASC 606 on our Unaudited Condensed Consolidated Balance Sheet and Unaudited Condensed Consolidated Statement of Income as of and for the three months ended March 31, 2018 was as follows (in thousands):



	Balance as of March 31, 2018
	As Reported		Amounts Without Adoption of ASC 606		Effect of Change Higher/(Lower)
Balance Sheet
Assets
Accounts receivable	$	1,211,788	$	1,165,618	$	46,170
Prepaid expenses and other current assets	180,367		127,358		53,009
Liabilities
Refund liability	99,179		—		99,179



	For the three months ended March 31, 2018
	As Reported		Amounts Without Adoption of ASC 606		Effect of Change Higher/(Lower)
Income Statement
Revenue	$	2,720,764	$	2,728,712	$	(7,948	)
Cost of goods sold	1,666,793		1,674,173		(7,380		)
Selling, general and administrative expenses	766,891		767,459		(568		)

Changes In Warranty Reserve

The changes in the warranty reserve are as follows (in thousands):



Balance as of December 31, 2017	$	23,151
Warranty expense	10,000
Warranty claims	(9,294		)
Balance as of March 31, 2018	$	23,857