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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Summary of Segment Information
The following table presents a summary of our reportable segment financial information:

Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2024202320242023
Net sales:
Automotive$3,726,991 $3,654,999 $7,301,011 $7,160,826 
Industrial2,235,576 2,260,007 4,445,187 4,519,298 
Total net sales$5,962,567 $5,915,006 $11,746,198 $11,680,124 
Segment profit:
Automotive$313,975 $329,347 $586,911 $593,767 
Industrial276,841 283,372 547,680 545,359 
Total segment profit590,816 612,719 1,134,591 1,139,126 
Interest expense, net(21,921)(16,455)(39,611)(33,319)
Intangible asset amortization(34,685)(40,625)(68,785)(79,747)
Corporate expense(85,984)(101,550)(169,746)(167,565)
Other unallocated costs (1)(62,025)— (145,067)— 
Income before income taxes$386,201 $454,089 $711,382 $858,495 

(1)     The following table presents a summary of the other unallocated costs:

Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2024202320242023
Other unallocated costs:
Restructuring and other costs (2)$(37,247)$— $(120,289)$— 
Acquisition and integration related costs and other (3)(24,778)— (24,778)— 
Total other unallocated costs$(62,025)$— $(145,067)$— 

(2)     Amount reflects costs related to the global restructuring initiative which includes a voluntary retirement offer in the U.S., inventory liquidation costs, and rationalization and optimization of certain distribution centers, stores and other facilities.
(3)     Amount primarily reflects integration costs related to the completion of the acquisition of Motor Parts and Equipment Corporation ("MPEC") in April 2024, including professional services costs, personnel costs, and lease and other exit costs.
Summary of Revenue from External Customers by Geographic Areas The following table presents disaggregated geographical net sales from contracts with customers by reportable segment:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2024202320242023
North America:
Automotive$2,352,254 $2,344,701 $4,549,144 $4,550,086 
Industrial2,101,811 2,128,747 4,181,937 4,259,462 
Total North America $4,454,065 $4,473,448 $8,731,081 $8,809,548 
Australasia:
Automotive$412,883 $407,853 $813,231 $814,615 
Industrial133,765 131,260 263,250 259,836 
Total Australasia$546,648 $539,113 $1,076,481 $1,074,451 
Europe – Automotive$961,854 $902,445 $1,938,636 $1,796,125 
Total net sales$5,962,567 $5,915,006 $11,746,198 $11,680,124