XML 46 R2.htm IDEA: XBRL DOCUMENT v3.25.0.1
Pay vs Performance Disclosure - USD ($)
 7 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure            
Pay vs Performance Disclosure, Table  
Value of Initial Fixed $100 Investment Based On:
YearSummary Compensation Table Total for PEO (1)Summary Compensation Table Total for Former PEO (1)Compensation Actually Paid to PEO (3)Compensation Actually Paid to Former PEO (3)Average Summary Compensation Table Total for Non-PEO NEOs (2)Average Compensation Actually Paid to Non-PEO NEOs (2,3)Total Shareholder Return (4)Peer Group Total Shareholder Return (4)Net Income (5) Adjusted EBITDA (5)
2024$7,720,095 $8,271,707 $5,649,801 $4,831,969 $3,178,467 $1,754,418 $126.35 $137.18 $904,076,000 $1,996,502,000 
2023$— $11,398,274 $— $3,805,187 $4,338,802 $1,321,789 $141.98 $145.65 $1,316,524,000 $2,157,346,000 
2022$— $10,376,689 $— $15,946,550 $3,320,601 $4,142,383 $177.86 $125.91 $1,182,701,000 $1,999,329,000 
2021$— $11,810,704 $— $15,494,036 $3,186,456 $4,128,860 $140.24 $190.36 $898,790,000 $1,681,515,000 
2020$— $8,523,608 $— $6,337,923 $2,215,555 $1,653,862 $97.81 $171.86 $163,395,000 $1,377,723,000 
        
Company Selected Measure Name   Adjusted EBITDA        
Named Executive Officers, Footnote   Mr. Stengel served as the Company's principal executive officer ("PEO") beginning June 3, 2024. Mr. Donahue served as the Company's PEO through June 2, 2024 and for the entirety of 2023, 2022, 2021 and 2020.The dollar amounts reported in the column reflect the average amounts of total compensation reported for our non-PEO NEOs for each corresponding year in the “Total” column of the Summary Compensation Table.
a.In 2024, our other named executive officers included Bert Nappier, Executive Vice President and Chief Financial Officer, Randall Breaux, GPC Group President - North America, Naveen Krishna, Executive Vice President and Chief Information and Digital Officer, Christopher Galla, Senior Vice President & General Counsel & Corporate Secretary, and James Neill, (Former) Executive Vice President & Chief Human Resources Officer. Mr. Neill retired as Executive Vice President & Chief Human Resources Officer, effective April 30, 2024.
b.In 2023, our other named executive officers included William Stengel, President, Bert Nappier, Executive Vice President and Chief Financial Officer, Randall Breaux, GPC Group President - North America, Kevin Herron, (Former) President of the U.S. Automotive Group, and James Neill, Executive Vice President & Chief Human Resources Officer. Mr. Herron retired as President, U.S. Automotive Group, effective July 31, 2023.
c.In 2022, our other named executive officers included William Stengel, President, Bert Nappier, Executive Vice President and Chief Financial Officer, Carol Yancey, (Former) Executive Vice President and Chief Financial Officer, Kevin Herron President of the U.S. Automotive Group, and Randall Breaux, President of Motion Industries. Carol Yancey retired as Executive Vice President and Chief Financial Officer effective May 2, 2022. Bert Nappier joined the Company in February 2022 and became Executive Vice President and Chief Financial Officer effective May 2, 2022.
d.In 2021, our other named executive officers included William Stengel, President, Carol Yancey, Executive Vice President and Chief Financial Officer, Kevin Herron President of the U.S. Automotive Group, and Randall Breaux, President of Motion Industries.
e.In 2020, our other named executive officers included Carol Yancey, Executive Vice President and Chief Financial Officer, James Neill, Executive Vice President of Human Resources, Kevin Herron President of the U.S. Automotive Group, and Randall Breaux, President of Motion Industries.
        
Peer Group Issuers, Footnote   The peer group reflects the peer group composite index used in the Stock Performance Graph included in our Annual Report. In constructing this peer group, the Company used the shareholder returns of various publicly held companies (weighted in accordance with each company’s stock market capitalization and including reinvestment of dividends) that compete with the Company in its two industry segments: automotive parts and industrial parts (each group of companies included in the peer group as competing with the Company in a separate industry segment). Included in the automotive parts peer group are those companies making up the Dow Jones U.S. Auto Parts Index (the Company is a member of such industry group, and its individual shareholder return was included when calculating the peer group results). Included in the industrial parts peer group are Applied Industrial Technologies, Inc., Fastenal Company, and W.W. Grainger, Inc. In determining the total peer group, each industry segment was weighted to reflect the Company’s annual net sales in each industry segment.        
PEO Total Compensation Amount     $ 11,398,274 $ 10,376,689 $ 11,810,704 $ 8,523,608
PEO Actually Paid Compensation Amount     3,805,187 15,946,550 15,494,036 6,337,923
Adjustment To PEO Compensation, Footnote  
20242023202220212020
Current Former
Summary Compensation Table ("SCT") Total$7,720,095 $8,271,707 $11,398,274 $10,376,689 $11,810,704 $8,523,608 
Deduct: Grant Date Fair Value of Stock Awards Grants in Fiscal Year and Change in Pension Value and Non-Qualified Deferred Compensation Earnings5,651,376 5,285,603 8,170,882 6,000,061 7,436,871 5,710,514 
Add: Pension value attributable to current year’s service and any change in pension value attributable to plan amendments made in current year121,937 — — — 119,764 169,345 
Add: Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year4,139,504 3,763,347 5,331,602 8,011,348 6,196,847 4,230,834 
Add: Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years(1,099,565)(3,090,295)(4,587,522)3,906,218 4,030,406 (417,368)
Add: Fair Value of Vesting of Stock Awards Granted in Fiscal Year that Vested During Fiscal Year— — — — — — 
Add: Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year419,206 1,172,813 (166,285)(347,644)773,186 (457,982)
Subtract: Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year— — — — — — 
Compensation Actually Paid to PEO$5,649,801 $4,831,969 $3,805,187 $15,946,550 $15,494,036 $6,337,923 
        
Non-PEO NEO Average Total Compensation Amount   $ 3,178,467 4,338,802 3,320,601 3,186,456 2,215,555
Non-PEO NEO Average Compensation Actually Paid Amount   $ 1,754,418 1,321,789 4,142,383 4,128,860 1,653,862
Adjustment to Non-PEO NEO Compensation Footnote  
20242023202220212020
Summary Compensation Table ("SCT") Total$3,178,467 $4,338,802 $3,320,601 $3,186,456 $2,215,555 
Deduct: Grant Date Fair Value of Stock Awards Grants in Fiscal Year and Change in Pension Value and Non-Qualified Deferred Compensation Earnings1,541,015 3,023,325 1,679,840 1,502,001 1,318,248 
Add: Pension value attributable to current year’s service and any change in pension value attributable to plan amendments made in current year90,563 85,059 75,040 86,731 114,992 
Add: Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year963,389 1,247,679 2,227,905 1,410,865 833,814 
Add: Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years(470,828)(937,283)672,626 806,432 (88,503)
Add: Fair Value of Vesting of Stock Awards Granted in Fiscal Year that Vested During Fiscal Year— — — — — 
Add: Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year88,404 (23,551)(47,382)140,377 (103,748)
Subtract: Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year(554,562)(365,592)(426,567)— — 
Average Compensation Actually Paid to Non-PEO NEOs$1,754,418 $1,321,789 $4,142,383 $4,128,860 $1,653,862 
        
Compensation Actually Paid vs. Total Shareholder Return   PvP Chart - TSR.jpg        
Compensation Actually Paid vs. Net Income   PvP Chart - Net Income.jpg        
Compensation Actually Paid vs. Company Selected Measure   PvP Chart - Adjusted EBITDA.jpg        
Total Shareholder Return Vs Peer Group   PvP Chart - TSR.jpg        
Total Shareholder Return Amount   $ 126.35 141.98 177.86 140.24 97.81
Peer Group Total Shareholder Return Amount   137.18 145.65 125.91 190.36 171.86
Net Income (Loss)   $ 904,076,000 $ 1,316,524,000 $ 1,182,701,000 $ 898,790,000 $ 163,395,000
Company Selected Measure Amount   1,996,502,000 2,157,346,000 1,999,329,000 1,681,515,000 1,377,723,000
PEO Name Mr. Donahue Mr. Stengel Mr. Donahue Mr. Donahue Mr. Donahue Mr. Donahue
Additional 402(v) Disclosure  
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of the Company. The following table sets forth information regarding compensation for our principal executive officer and average compensation related to our other named executive officers versus our Company performance for the past four years.
Total shareholder return assumes that $100 was invested on the measurement date in Genuine Parts Company common stock and the peer group as set forth below. The measurement date is established by the market close on the last trading day before the beginning of the Company's fifth preceding fiscal year. This shareholder return assumes reinvestment of all dividends.Reflects net income as shown in the Company’s Annual Report on Form 10-K for the years ended December 31, 2024, 2023, 2022, 2021 and 2020.
Financial Performance Measures
As described in detail in the “Compensation Discussion and Analysis,” the Company’s executive compensation program consists of several compensation elements reflecting the Company’s pay-for-performance philosophy, including equity compensation which is directly tied to the returns experienced by our shareholders.
The most important financial performance measures used to link compensation actually paid to the Company’s named executive officers with the Company’s performance for 2024 are as follows:
•Total Shareholder Return
•Adjusted EBITDA
•Net Sales
•Working Capital
Analysis of the Information Presented in the Pay versus Performance Table
As described in more detail in the section “Executive Compensation – Compensation Discussion and Analysis,” the Company’s executive compensation program reflects a variable pay-for-performance philosophy. While the Company utilizes several performance measures to align executive compensation with Company performance, all of those Company measures are not presented in the Pay versus Performance table. Moreover, the Company generally seeks to incentivize long-term performance, and therefore does not specifically align the Company’s performance measures with compensation that is actually paid (as computed in accordance with Item 402(v) of Regulation S-K) for a particular year. In accordance with Item 402(v) of Regulation S-K, the Company is providing the following descriptions of the relationships between information presented in the Pay versus Performance table.
The charts below reflect the relationship among compensation actually paid compared to the Company's total shareholder return and peer group total shareholder return, net income, and adjusted EBITDA over the past five fiscal years. Compensation actually paid reflects the value of outstanding performance-based grants at specified fiscal year ends and does not have a direct comparison to performance trends.
        
Measure:: 1            
Pay vs Performance Disclosure            
Name   Adjusted EBITDA        
Non-GAAP Measure Description   Adjusted EBITDA, our Company-selected measure, is a non-GAAP measure. Adjusted EBITDA represents our net income before interest expense, net, income taxes and depreciation and amortization, adjusted to eliminate gain on sales of real estate, gain on insurance proceeds, product liability adjustment, and transaction and other costs.        
Measure:: 2            
Pay vs Performance Disclosure            
Name   Total Shareholder Return        
Measure:: 3            
Pay vs Performance Disclosure            
Name   Net Sales        
Measure:: 4            
Pay vs Performance Disclosure            
Name   Working Capital        
Mr. Stengel [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount   $ 7,720,095        
PEO Actually Paid Compensation Amount   5,649,801        
Mr. Donahue [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount   8,271,707 $ 11,398,274 $ 10,376,689 $ 11,810,704 $ 8,523,608
PEO Actually Paid Compensation Amount   4,831,969 3,805,187 15,946,550 15,494,036 6,337,923
PEO | Aggregate Pension Adjustments Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 119,764 169,345
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     5,331,602 8,011,348 6,196,847 4,230,834
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (4,587,522) 3,906,218 4,030,406 (417,368)
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (166,285) (347,644) 773,186 (457,982)
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
PEO | Grant Date Fair Value of Stock Awards Grants in Fiscal Year and Change in Pension Value and Non-Qualified Deferred Compensation Earnings [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (8,170,882) (6,000,061) (7,436,871) (5,710,514)
PEO | Mr. Stengel [Member] | Aggregate Pension Adjustments Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   121,937        
PEO | Mr. Stengel [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   4,139,504        
PEO | Mr. Stengel [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   (1,099,565)        
PEO | Mr. Stengel [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   0        
PEO | Mr. Stengel [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   419,206        
PEO | Mr. Stengel [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   0        
PEO | Mr. Stengel [Member] | Grant Date Fair Value of Stock Awards Grants in Fiscal Year and Change in Pension Value and Non-Qualified Deferred Compensation Earnings [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   (5,651,376)        
PEO | Mr. Donahue [Member] | Aggregate Pension Adjustments Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   0        
PEO | Mr. Donahue [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   3,763,347        
PEO | Mr. Donahue [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   (3,090,295)        
PEO | Mr. Donahue [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   0        
PEO | Mr. Donahue [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   1,172,813        
PEO | Mr. Donahue [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   0        
PEO | Mr. Donahue [Member] | Grant Date Fair Value of Stock Awards Grants in Fiscal Year and Change in Pension Value and Non-Qualified Deferred Compensation Earnings [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   (5,285,603)        
Non-PEO NEO | Aggregate Pension Adjustments Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   90,563 85,059 75,040 86,731 114,992
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   963,389 1,247,679 2,227,905 1,410,865 833,814
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   (470,828) (937,283) 672,626 806,432 (88,503)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   0 0 0 0 0
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   88,404 (23,551) (47,382) 140,377 (103,748)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   (554,562) (365,592) (426,567) 0 0
Non-PEO NEO | Grant Date Fair Value of Stock Awards Grants in Fiscal Year and Change in Pension Value and Non-Qualified Deferred Compensation Earnings [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   $ (1,541,015) $ (3,023,325) $ (1,679,840) $ (1,502,001) $ (1,318,248)