Selected Quarterly Data (unaudited) (Notes)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information [Text Block]

Selected Quarterly Data (unaudited)

The following table presents unaudited selected quarterly financial data for the two years ended December 31, 2019. The operating results for any quarter are not necessarily indicative of the results for any future period.



	Quarter Ended⁽¹⁾
(In thousands, except per share data)	Dec. 31		Sep. 30			Jun. 30		Mar. 31 ⁽²⁾
2019
Revenue	$	3,009,860	$	3,147,773		$	3,248,173	$	3,100,303
Gross margin	1,196,014		1,200,329			1,247,187		1,208,264
Operating income ⁽¹⁾	206,768		231,364			236,111		222,400
Income from continuing operations ⁽²⁾	140,833		151,812			151,707		99,063
Net income from discontinued operations ^{(5) (6)}	440		781			398		—
Net income	141,273		152,593			152,105		99,063
Net income (loss) attributable to continuing noncontrolling interest	479		(46		)	1,352		1,015
Net income attributable to discontinued noncontrolling interest	406		376			192		—
Net income attributable to LKQ stockholders	140,388		152,263			150,561		98,048

Basic earnings per share from continuing operations ⁽⁷⁾	$	0.46	$	0.49		$	0.49	$	0.31
Diluted earnings per share from continuing operations⁽⁷⁾	$	0.46	$	0.49		$	0.49	$	0.31



	Quarter Ended ⁽³⁾
(In thousands, except per share data)	Dec. 31 ^{(2) (4) (5)}			Sep. 30 ⁽²⁾		Jun. 30		Mar. 31
2018
Revenue	$	3,002,781		$	3,122,378	$	3,030,751	$	2,720,764
Gross margin	1,161,809			1,197,198		1,161,879		1,053,971
Operating income ⁽⁴⁾	164,146			234,733		256,794		226,568
Income from continuing operations ⁽²⁾	42,456			134,480		157,866		152,763
Net loss from discontinued operations ⁽⁵⁾	(4,397		)	—		—		—
Net income	38,059			134,480		157,866		152,763
Net income (loss) attributable to continuing noncontrolling interest	2,010			378		859		(197		)
Net income attributable to LKQ stockholders	36,049			134,102		157,007		152,960

Basic earnings per share from continuing operations ⁽⁷⁾	$	0.13		$	0.42	$	0.51	$	0.49
Diluted earnings per share from continuing operations ⁽⁷⁾	$	0.13		$	0.42	$	0.50	$	0.49


(1)	Reflects impairment charges of $15 million, $33 million, and $2 million to net assets held for sale recorded in the first, second, and fourth quarters of 2019, respectively, and a $4 million net reversal of impairment in the third quarter of 2019. See "Net Assets Held for Sale" in Note 4, "Summary of Significant Accounting Policies," for further information.


(2)	Reflects impairment charges of $40 million in the first quarter of 2019, and charges of $48 million and $23 million in the fourth and third quarters of 2018, respectively, related to the Mekonomen equity investment. See "Investments in Unconsolidated Subsidiaries" in Note 4, "Summary of Significant Accounting Policies," for further information.

(3) The 2018 amounts presented above include the results of operations of Stahlgruber, from its acquisition effective May 30, 2018.


(4)	Reflects a $33 million goodwill impairment charge on the Aviation reporting unit recorded in the fourth quarter of 2018. See "Intangible Assets" in Note 4, "Summary of Significant Accounting Policies," for further information.

(5)

In the first quarter of 2017, LKQ completed the sale of the glass manufacturing business of its PGW subsidiary. During the fourth quarter of 2019, we incurred costs related to the disposal of the glass manufacturing business of PGW and settled certain tax matters. During the fourth quarter of 2018, we recorded a final tax expense adjustment of $4 million to the loss on sale of the glass manufacturing business of PGW. See "Glass Manufacturing Business" in Note 3, "Discontinued Operations" for further information regarding the disposal of the glass manufacturing business.


(6)	In the second quarter of 2019, we classified the acquired Stahlgruber Czech Republic wholesale business as discontinued operations. See "Czech Republic" in Note 3, "Discontinued Operations" for further information regarding the planned disposal of the Czech Republic business.

(7)

The sum of the quarters may not equal the total of the respective year's earnings per share on either a basic or diluted basis due to changes in weighted average shares outstanding throughout the year.