Condensed Consolidating Financial Information

12 Months Ended

Dec. 31, 2019

Condensed Consolidating Financial Information [Abstract]

Condensed Financial Statements [Text Block]

Condensed Consolidating Financial Information

LKQ Corporation (the "Parent") issued, and the Guarantors have fully and unconditionally guaranteed, jointly and severally, the U.S. Notes (2023) due on May 15, 2023. A Guarantor's guarantee will be unconditionally and automatically released and discharged upon the occurrence of any of the following events: (i) a transfer (including as a result of consolidation or merger) by the Guarantor to any person that is not a Guarantor of all or substantially all assets and properties of such Guarantor, provided the Guarantor is also released from its obligations with respect to indebtedness under the Credit Agreement or other indebtedness of ours, which obligation gave rise to the guarantee of the U.S. Notes (2023); (ii) a transfer (including as a result of consolidation or merger) to any person that is not a Guarantor of the equity interests of a Guarantor or issuance by a Guarantor of its equity interests such that the Guarantor ceases to be a subsidiary, as defined in the U.S. Notes (2023) Indenture, provided the Guarantor is also released from its obligations with respect to indebtedness under the Credit Agreement or other indebtedness of ours, which obligation gave rise to the guarantee of the U.S. Notes (2023); (iii) the release of the Guarantor from its obligations with respect to indebtedness under the Credit Agreement or other indebtedness of ours, which obligation gave rise to the guarantee of the U.S. Notes (2023); and (iv) upon legal defeasance, covenant defeasance or satisfaction and discharge of the U.S. Notes (2023) Indenture, as defined in the U.S. Notes (2023) Indenture.

Presented below are the condensed consolidating financial statements of the Parent, the Guarantors, the non-guarantor subsidiaries (the "Non-Guarantors"), and the elimination entries necessary to present our financial statements on a consolidated basis as required by Rule 3-10 of Regulation S-X of the Securities Exchange Act of 1934 resulting from the guarantees of the U.S. Notes (2023). Investments in consolidated subsidiaries have been presented under the equity method of accounting. The principal elimination entries eliminate investments in subsidiaries, intercompany balances, and intercompany revenue and expenses. The condensed consolidating financial statements below have been prepared from our financial information on the same basis of accounting as the consolidated financial statements, and may not necessarily be indicative of the financial position, results of operations or cash flows had the Parent, Guarantors and Non-Guarantors operated as independent entities.

On January 10, 2020, we redeemed the U.S Notes (2023) at which point the guarantees were released. Refer to "U.S. Notes (2023)" in Note 10 "Long-Term Obligations," for further information on the redemption.

LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Income (In thousands)

	Year Ended December 31, 2019
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Revenue	$	—		$	6,269,185		$	6,384,822		$	(147,898	)	$	12,506,109
Cost of goods sold	—			3,711,074			4,091,139			(147,898		)	7,654,315
Gross margin	—			2,558,111			2,293,683			—			4,851,794
Selling, general and administrative expenses	45,914			1,732,282			1,802,104			—			3,580,300
Restructuring and acquisition related expenses	—			8,644			28,335			—			36,979
Impairment of net assets held for sale and goodwill	—			39,355			7,747			—			47,102
Depreciation and amortization	479			105,288			185,003			—			290,770
Operating (loss) income	(46,393		)	672,542			270,494			—			896,643
Other expense (income):
Interest expense	52,376			299			85,829			—			138,504
Intercompany interest (income) expense, net	(58,762		)	32,899			25,863			—			—
Gain on debt extinguishment	—			(128		)	—			—			(128		)
Interest income and other (income) expense, net	(13,269		)	(20,376		)	890			—			(32,755		)
Total other (income) expense, net	(19,655		)	12,694			112,582			—			105,621
(Loss) income from continuing operations before (benefit) provision for income taxes	(26,738		)	659,848			157,912			—			791,022
(Benefit) provision for income taxes	(7,062		)	169,173			53,219			—			215,330
Equity in earnings (losses) of unconsolidated subsidiaries	—			1,220			(33,497		)	—			(32,277		)
Equity in earnings of subsidiaries	559,317			10,824			—			(570,141		)	—
Income from continuing operations	539,641			502,719			71,196			(570,141		)	543,415
Net income (loss) from discontinued operations	1,619			(1,253		)	1,673			(420		)	1,619
Net income	541,260			501,466			72,869			(570,561		)	545,034
Less: net income attributable to continuing noncontrolling interest	—			—			2,800			—			2,800
Less: net income attributable to discontinued noncontrolling interest	—			—			974			—			974
Net income attributable to LKQ stockholders	$	541,260		$	501,466		$	69,095		$	(570,561	)	$	541,260

LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Income (In thousands)

	Year Ended December 31, 2018
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Revenue	$	—		$	6,276,951		$	5,766,958		$	(167,235	)	$	11,876,674
Cost of goods sold	—			3,783,376			3,685,676			(167,235		)	7,301,817
Gross margin	—			2,493,575			2,081,282			—			4,574,857
Selling, general and administrative expenses	27,394			1,713,118			1,612,219			—			3,352,731
Restructuring and acquisition related expenses	—			3,140			29,288			—			32,428
Impairment of net assets held for sale and goodwill	—			33,244			—			—			33,244
Depreciation and amortization	137			99,665			174,411			—			274,213
Operating (loss) income	(27,531		)	644,408			265,364			—			882,241
Other expense (income):
Interest expense	66,794			640			78,943			—			146,377
Intercompany interest (income) expense, net	(65,072		)	40,756			24,316			—			—
Loss on debt extinguishment	1,350			—			—			—			1,350
Interest income and other (income) expense, net	(1,082		)	(15,586		)	7,751			—			(8,917		)
Total other expense, net	1,990			25,810			111,010			—			138,810
(Loss) income from continuing operations before (benefit) provision for income taxes	(29,521		)	618,598			154,354			—			743,431
(Benefit) provision for income taxes	(18,600		)	163,937			46,058			—			191,395
Equity in earnings (losses) of unconsolidated subsidiaries	—			173			(64,644		)	—			(64,471		)
Equity in earnings of subsidiaries	495,436			16,598			—			(512,034		)	—
Income from continuing operations	484,515			471,432			43,652			(512,034		)	487,565
Net loss from discontinued operations	(4,397		)	(4,397		)	—			4,397			(4,397		)
Net income	480,118			467,035			43,652			(507,637		)	483,168
Less: net income attributable to noncontrolling interest	—			—			3,050			—			3,050
Net income attributable to LKQ stockholders	$	480,118		$	467,035		$	40,602		$	(507,637	)	$	480,118

LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Income (In thousands)

	Year Ended December 31, 2017
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Revenue	$	—		$	5,780,904		$	4,116,161		$	(160,156	)	$	9,736,909
Cost of goods sold	—			3,458,304			2,639,138			(160,156		)	5,937,286
Gross margin	—			2,322,600			1,477,023			—			3,799,623
Selling, general and administrative expenses	29,884			1,557,883			1,127,640			—			2,715,407
Restructuring and acquisition related expenses	—			7,352			12,320			—			19,672
Depreciation and amortization	118			96,717			122,711			—			219,546
Operating (loss) income	(30,002		)	660,648			214,352			—			844,998
Other expense (income):
Interest expense	66,030			546			35,064			—			101,640
Intercompany interest (income) expense, net	(17,873		)	(2,383		)	20,256			—			—
Loss on debt extinguishment	456			—			—			—			456
Interest income and other expense (income), net	242			(14,323		)	(9,644		)	—			(23,725		)
Total other expense (income), net	48,855			(16,160		)	45,676			—			78,371
(Loss) income from continuing operations before provision for income taxes	(78,857		)	676,808			168,676			—			766,627
Provision for income taxes	28,684			168,288			38,588			—			235,560
Equity in earnings of unconsolidated subsidiaries	—			—			5,907			—			5,907
Equity in earnings of subsidiaries	648,031			21,836			—			(669,867		)	—
Income from continuing operations	540,490			530,356			135,995			(669,867		)	536,974
Net (loss) income from discontinued operations	(6,746		)	(6,746		)	2,050			4,696			(6,746		)
Net income	533,744			523,610			138,045			(665,171		)	530,228
Less: net loss attributable to noncontrolling interest	—			—			(3,516		)	—			(3,516		)
Net income attributable to LKQ stockholders	$	533,744		$	523,610		$	141,561		$	(665,171	)	$	533,744

LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Comprehensive Income (In thousands)

	Year Ended December 31, 2019
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net income	$	541,260		$	501,466		$	72,869		$	(570,561	)	$	545,034
Less: net income attributable to continuing noncontrolling interest	—			—			2,800			—			2,800
Less: net income attributable to discontinued noncontrolling interest	—			—			974			—			974
Net income attributable to LKQ stockholders	541,260			501,466			69,095			(570,561		)	541,260

Other comprehensive (loss) income:
Foreign currency translation, net of tax	6,704			5,477			5,360			(10,837		)	6,704
Net change in unrealized gains/losses on cash flow hedges, net of tax	(9,016		)	—			—			—			(9,016		)
Net change in unrealized gains/losses on pension plans, net of tax	(23,859		)	(6,088		)	(17,771		)	23,859			(23,859		)
Net change in other comprehensive income from unconsolidated subsidiaries	236			—			236			(236		)	236
Other comprehensive loss	(25,935		)	(611		)	(12,175		)	12,786			(25,935		)

Comprehensive income	515,325			500,855			60,694			(557,775		)	519,099
Less: comprehensive income attributable to continuing noncontrolling interest	—			—			2,800			—			2,800
Less: comprehensive income attributable to discontinued noncontrolling interest	—			—			974			—			974
Comprehensive income attributable to LKQ stockholders	$	515,325		$	500,855		$	56,920		$	(557,775	)	$	515,325

LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Comprehensive Income (In thousands)

	Year Ended December 31, 2018
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net income	$	480,118		$	467,035		$	43,652		$	(507,637	)	$	483,168
Less: net income attributable to noncontrolling interest	—			—			3,050			—			3,050
Net income attributable to LKQ stockholders	480,118			467,035			40,602			(507,637		)	480,118

Other comprehensive (loss) income:
Foreign currency translation, net of tax	(108,523		)	(8,628		)	(75,462		)	84,090			(108,523		)
Net change in unrealized gains/losses on cash flow hedges, net of tax	350			—			—			—			350
Net change in unrealized gains/losses on pension plans, net of tax	697			1,266			(569		)	(697		)	697
Net change in other comprehensive loss from unconsolidated subsidiaries	(2,343		)	—			(2,343		)	2,343			(2,343		)
Other comprehensive loss	(109,819		)	(7,362		)	(78,374		)	85,736			(109,819		)

Comprehensive income (loss)	370,299			459,673			(34,722		)	(421,901		)	373,349
Less: comprehensive income attributable to noncontrolling interest	—			—			3,050			—			3,050
Comprehensive income (loss) attributable to LKQ stockholders	$	370,299		$	459,673		$	(37,772	)	$	(421,901	)	$	370,299

LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Comprehensive Income (In thousands)

	Year Ended December 31, 2017
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net income	$	533,744		$	523,610		$	138,045		$	(665,171	)	$	530,228
Less: net loss attributable to noncontrolling interest	—			—			(3,516		)	—			(3,516		)
Net income attributable to LKQ stockholders	533,744			523,610			141,561			(665,171		)	533,744

Other comprehensive income (loss):
Foreign currency translation, net of tax	200,596			16,743			206,049			(222,792		)	200,596
Net change in unrealized gains/losses on cash flow hedges, net of tax	3,447			(133		)	—			133			3,447
Net change in unrealized gains/losses on pension plans, net of tax	(6,035		)	(3,254		)	(2,781		)	6,035			(6,035		)
Net change in other comprehensive loss from unconsolidated subsidiaries	(1,309		)	—			(1,309		)	1,309			(1,309		)
Other comprehensive income	196,699			13,356			201,959			(215,315		)	196,699

Comprehensive income	730,443			536,966			340,004			(880,486		)	726,927
Less: comprehensive loss attributable to noncontrolling interest	—			—			(3,516		)	—			(3,516		)
Comprehensive income attributable to LKQ stockholders	$	730,443		$	536,966		$	343,520		$	(880,486	)	$	730,443

LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Balance Sheets (In thousands)

	December 31, 2019
	Parent		Guarantors		Non-Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	240,476	$	44,326	$	238,218	$	—		$	523,020
Receivables, net	—		304,416		826,716		—			1,131,132
Intercompany receivables, net	9,822		—		18,261		(28,083		)	—
Inventories	—		1,289,389		1,483,388		—			2,772,777
Prepaid expenses and other current assets	11,606		94,146		155,138		—			260,890
Total current assets	261,904		1,732,277		2,721,721		(28,083		)	4,687,819
Property, plant and equipment, net	423		640,648		593,329		—			1,234,400
Operating lease assets, net	3,701		808,726		496,084		—			1,308,511
Intangible assets:
Goodwill	—		2,012,282		2,394,253		—			4,406,535
Other intangibles, net	564		249,497		600,277		—			850,338
Investment in subsidiaries	5,345,724		127,551		—		(5,473,275		)	—
Intercompany notes receivable	1,021,380		120,099		—		(1,141,479		)	—
Equity method investments	—		17,624		121,619		—			139,243
Other noncurrent assets	64,080		39,204		49,826		—			153,110
Total assets	$	6,697,776	$	5,747,908	$	6,977,109	$	(6,642,837	)	$	12,779,956
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	2,883	$	397,647	$	542,265	$	—		$	942,795
Intercompany payables, net	—		18,261		9,822		(28,083		)	—
Accrued expenses:
Accrued payroll-related liabilities	8,837		66,877		103,489		—			179,203
Refund liability	—		46,789		50,525		—			97,314
Other accrued expenses	8,895		119,352		161,436		—			289,683
Other current liabilities	282		23,641		97,700					121,623
Current portion of operating lease liabilities	224		119,538		101,765		—			221,527
Current portion of long-term obligations	202,220		3,124		121,023		—			326,367
Total current liabilities	223,341		795,229		1,188,025		(28,083		)	2,178,512
Long-term operating lease liabilities, excluding current portion	3,883		721,584		412,130		—			1,137,597
Long-term obligations, excluding current portion	1,331,015		14,268		2,370,106		—			3,715,389
Intercompany notes payable	—		517,361		624,118		(1,141,479		)	—
Deferred income taxes	5,229		161,574		143,326		—			310,129
Other noncurrent liabilities	125,432		80,611		159,629		—			365,672
Redeemable noncontrolling interest	—		—		24,077		—			24,077
Stockholders' equity:
Total Company stockholders’ equity	5,008,876		3,457,281		2,015,994		(5,473,275		)	5,008,876
Noncontrolling interest	—		—		39,704		—			39,704
Total stockholders’ equity	5,008,876		3,457,281		2,055,698		(5,473,275		)	5,048,580
Total liabilities and stockholders' equity	$	6,697,776	$	5,747,908	$	6,977,109	$	(6,642,837	)	$	12,779,956

LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Balance Sheets (In thousands)

	December 31, 2018
	Parent		Guarantors		Non-Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	25,633	$	29,285	$	276,843	$	—		$	331,761
Receivables, net	310		316,726		837,047		—			1,154,083
Intercompany receivables, net	6,978		—		12,880		(19,858		)	—
Inventories	—		1,343,612		1,492,463		—			2,836,075
Prepaid expenses and other current assets	18,611		99,356		81,063		—			199,030
Total current assets	51,532		1,788,979		2,700,296		(19,858		)	4,520,949
Property, plant and equipment, net	1,547		600,054		618,561		—			1,220,162
Intangible assets:
Goodwill	—		1,973,364		2,408,094		—			4,381,458
Other intangibles, net	260		272,451		656,041		—			928,752
Investment in subsidiaries	5,224,006		111,826		—		(5,335,832		)	—
Intercompany notes receivable	1,220,582		10,515		—		(1,231,097		)	—
Equity method investments	—		16,404		162,765		—			179,169
Other noncurrent assets	70,283		40,548		52,081		—			162,912
Total assets	$	6,568,210	$	4,814,141	$	6,597,838	$	(6,586,787	)	$	11,393,402
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	2,454	$	343,116	$	596,828	$	—		$	942,398
Intercompany payables, net	—		12,880		6,978		(19,858		)	—
Accrued expenses:
Accrued payroll-related liabilities	6,652		70,267		95,086		—			172,005
Refund liability	—		50,899		53,686		—			104,585
Other accrued expenses	5,454		105,672		177,299		—			288,425
Other current liabilities	283		17,860		42,966		—			61,109
Current portion of long-term obligations	8,459		2,932		110,435		—			121,826
Total current liabilities	23,302		603,626		1,083,278		(19,858		)	1,690,348
Long-term obligations, excluding current portion	1,628,677		13,532		2,546,465		—			4,188,674
Intercompany notes payable	—		597,283		633,814		(1,231,097		)	—
Deferred income taxes	8,045		135,355		168,034		—			311,434
Other noncurrent liabilities	125,888		99,147		139,159		—			364,194
Total Company stockholders’ equity	4,782,298		3,365,198		1,970,634		(5,335,832		)	4,782,298
Noncontrolling interest	—		—		56,454		—			56,454
Total stockholders’ equity	4,782,298		3,365,198		2,027,088		(5,335,832		)	4,838,752
Total liabilities and stockholders' equity	$	6,568,210	$	4,814,141	$	6,597,838	$	(6,586,787	)	$	11,393,402

LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows (In thousands)

	Year Ended December 31, 2019
	Parent			Guarantors			Non-Guarantors ⁽¹⁾			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by operating activities	$	500,658		$	275,443		$	378,100		$	(90,168	)	$	1,064,033
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(564		)	(134,992		)	(130,174		)	—			(265,730		)
Proceeds from disposals of property, plant and equipment	—			6,821			9,224			—			16,045
Investment and intercompany note activity with subsidiaries	130,600			—			—			(130,600		)	—
Acquisitions, net of cash and restricted cash acquired	—			(23,643		)	(3,653		)	—			(27,296		)
Proceeds from disposal of businesses	—			19,682			(1,213		)	—			18,469
Investments in unconsolidated subsidiaries	—			(3,250		)	(4,344		)	—			(7,594		)
Receipts of deferred purchase price on receivables under factoring arrangements	—			358,995			—			(358,995		)	—
Other investing activities, net	967			286			—			—			1,253
Net cash provided by (used in) investing activities	131,003			223,899			(130,160		)	(489,595		)	(264,853		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Purchase of treasury stock	(291,813		)	—			—			—			(291,813		)
Borrowings under revolving credit facilities	218,000			—			387,708			—			605,708
Repayments under revolving credit facilities	(316,692		)	—			(417,779		)	—			(734,471		)
Repayments under term loans	(8,750		)	—			—			—			(8,750		)
Borrowings under receivables securitization facility	—			—			36,600			—			36,600
Repayments under receivables securitization facility	—			—			(146,600		)	—			(146,600		)
Payment of notes issued and assumed debt from acquisitions	(19,123		)	—			—			—			(19,123		)
Repayments of other debt, net	(749		)	(2,185		)	(30,988		)	—			(33,922		)
Other financing activities, net	2,309			—			(10,607		)	—			(8,298		)
Investment and intercompany note activity with parent	—			(34,026		)	(96,574		)	130,600			—
Dividends	—			(449,163		)	—			449,163			—
Net cash used in financing activities	(416,818		)	(485,374		)	(278,240		)	579,763			(600,669		)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	—			1,073			(1,977		)	—			(904		)
Net increase (decrease) in cash, cash equivalents and restricted cash	214,843			15,041			(32,277		)	—			197,607
Cash, cash equivalents and restricted cash of continuing operations, beginning of period	25,633			29,285			282,332			—			337,250
Cash, cash equivalents and restricted cash of continuing and discontinued operations, end of period	240,476			44,326			250,055			—			534,857
Less: Cash and cash equivalents of discontinued operations, end of period	—			—			6,470			—			6,470
Cash, cash equivalents and restricted cash, end of period	$	240,476		$	44,326		$	243,585		$	—		$	528,387

⁽¹⁾Restricted cash is only included in the condensed consolidating financial information of the Non-Guarantors

LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows (In thousands)

	Year Ended December 31, 2018
	Parent			Guarantors			Non-Guarantors ⁽¹⁾			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by operating activities	$	481,138		$	277,595		$	111,213		$	(159,207	)	$	710,739
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(848		)	(136,033		)	(113,146		)	—			(250,027		)
Proceeds from disposals of property, plant and equipment	—			22,393			5,266			—			27,659
Investment and intercompany note activity with subsidiaries	(97,261		)	—			—			97,261			—
Return of investment in subsidiaries	143,524			—			—			(143,524		)	—
Acquisitions, net of cash and restricted cash acquired	—			(8,217		)	(1,206,778		)	—			(1,214,995		)
Investments in unconsolidated subsidiaries	—			(12,216		)	(48,084		)	—			(60,300		)
Receipts of deferred purchase price on receivables under factoring arrangements	—			317,091			36,991			(317,091		)	36,991
Other investing activities, net	887			180			666			—			1,733
Net cash provided by (used in) investing activities	46,302			183,198			(1,325,085		)	(363,354		)	(1,458,939		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt issuance costs	(5,434		)	—			(15,694		)	—			(21,128		)
Proceeds from issuance of Euro Notes (2026/28)	—			—			1,232,100			—			1,232,100
Purchase of treasury stock	(60,000		)	—			—			—			(60,000		)
Borrowings under revolving credit facilities	765,632			—			901,693			—			1,667,325
Repayments under revolving credit facilities	(884,863		)	—			(644,107		)	—			(1,528,970		)
Repayments under term loans	(354,800		)	—			—			—			(354,800		)
Borrowings under receivables securitization facility	—			—			10,120			—			10,120
Repayments under receivables securitization facility	—			—			(120		)	—			(120		)
Payment of notes issued and assumed debt from acquisitions	—			—			(54,888		)	—			(54,888		)
Repayments of other debt, net	(385		)	(3,636		)	(7,709		)	—			(11,730		)
Other financing activities, net	3,683			—			1,403			—			5,086
Investment and intercompany note activity with parent	—			(68,435		)	165,696			(97,261		)	—
Dividends	—			(392,883		)	(226,939		)	619,822			—
Net cash (used in) provided by financing activities	(536,167		)	(464,954		)	1,361,555			522,561			882,995
Effect of exchange rate changes on cash, cash equivalents and restricted cash	—			(1,685		)	(75,626		)	—			(77,311		)
Net (decrease) increase in cash, cash equivalents and restricted cash	(8,727		)	(5,846		)	72,057			—			57,484
Cash, cash equivalents and restricted cash, beginning of period	34,360			35,131			210,275			—			279,766
Cash, cash equivalents and restricted cash, end of period	$	25,633		$	29,285		$	282,332		$	—		$	337,250

⁽¹⁾Restricted cash is only included in the condensed consolidating financial information of the Non-Guarantors

LKQ CORPORATION AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows (In thousands)

	Year Ended December 31, 2017
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by operating activities	$	243,011		$	186,459		$	95,617		$	(6,187	)	$	518,900
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(648		)	(87,102		)	(91,340		)	—			(179,090		)
Proceeds from disposals of property, plant and equipment	—			6,490			2,217			—			8,707
Investment and intercompany note activity with subsidiaries	57,735			—			—			(57,735		)	—
Acquisitions, net of cash and restricted cash acquired	—			(335,582		)	(177,506		)	—			(513,088		)
Proceeds from disposals of businesses	—			305,740			(4,443		)	—			301,297
Investments in unconsolidated subsidiaries	—			(2,750		)	(4,914		)	—			(7,664		)
Receipts of deferred purchase price on receivables under factoring arrangements ⁽¹⁾	—			294,925			—			(294,925		)	—
Other investing activities, net	—			—			5,243			—			5,243
Net cash provided by (used in) investing activities	57,087			181,721			(270,743		)	(352,660		)	(384,595		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt issuance costs	(4,267		)	—			—			—			(4,267		)
Borrowings under revolving credit facilities	558,000			—			281,171			—			839,171
Repayments under revolving credit facilities	(824,862		)	—			(121,615		)	—			(946,477		)
Repayments under term loans	(27,884		)	—			—			—			(27,884		)
Borrowings under receivables securitization facility	—			—			11,245			—			11,245
Repayments under receivables securitization facility	—			—			(11,245		)	—			(11,245		)
(Repayments) borrowings of other debt, net	(1,700		)	(1,318		)	22,724			—			19,706
Other financing activities, net	1,945			(1,336		)	6,575			—			7,184
Investment and intercompany note activity with parent	—			(65,498		)	7,763			57,735			—
Dividends	—			(301,112		)	—			301,112			—
Net cash (used in) provided by financing activities	(298,768		)	(369,264		)	196,618			358,847			(112,567		)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	—			706			22,806			—			23,512
Net increase (decrease) in cash, cash equivalents and restricted cash	1,330			(378		)	44,298			—			45,250
Cash, cash equivalents and restricted cash of continuing operations, beginning of period	33,030			35,360			159,010			—			227,400
Add: Cash, cash equivalents and restricted cash of discontinued operations, beginning of period	—			149			6,967			—			7,116
Cash, cash equivalents and restricted cash of continuing and discontinued operations, beginning of period	33,030			35,509			165,977			—			234,516
Cash, cash equivalents and restricted cash, end of period	$	34,360		$	35,131		$	210,275		$	—		$	279,766

⁽¹⁾Reflects the impact of adopting ASU 2016-15