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Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Automotive Segment
The following table presents a summary of our reportable Automotive segment financial information:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Net sales$3,912,281$3,726,991$7,577,169$7,301,011
Cost of goods sold 2,275,2492,219,3024,432,0734,381,018
Gross profit 1,637,0321,507,6893,145,0962,919,993
Operating expenses 1,299,0401,144,8202,521,5972,237,448
EBITDA$337,992$362,869$623,499$682,545
Gross margin (1) 41.8 %40.5 %41.5 %40.0 %
Operating expenses as a percentage of net sales33.2 %30.7 %33.3 %30.6 %
EBITDA margin (2) 8.6 %9.7 %8.2 %9.3 %
Industrial Segment
The following table presents a summary of our reportable Industrial segment financial information:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Net sales$2,252,144$2,235,576$4,453,325$4,445,187
Cost of goods sold 1,564,8151,555,5143,100,4093,102,814
Gross profit 687,329680,0621,352,9161,342,373
Operating expenses 399,191395,102786,067778,426
EBITDA$288,138$284,960$566,849$563,947
Gross margin (1)30.5 %30.4 %30.4 %30.2 %
Operating expenses as a percentage of net sales17.7 %17.7 %17.7 %17.5 %
EBITDA margin (2) 12.8 %12.7 %12.7 %12.7 %
(1)Gross margin is gross profit as a percentage of net sales.
(2)EBITDA margin is earnings before interest, taxes, depreciation and amortization ("EBITDA") as a percentage of net sales.
Additional Information
The following table presents a reconciliation from EBITDA to net income:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Segment EBITDA
Automotive $337,992 $362,869 $623,499 $682,545 
Industrial288,138 284,960 566,849 563,947 
Corporate EBITDA (1)(78,632)(78,480)(169,757)(160,620)
Interest expense, net(40,211)(21,921)(77,427)(39,611)
Depreciation and amortization(123,018)(99,202)(238,453)(189,812)
Other unallocated costs (2)(45,712)(62,025)(114,517)(145,067)
Income before income taxes338,557 386,201 590,194 711,382 
Income taxes (83,677)(90,657)(140,922)(166,944)
Net Income $254,880 $295,544 $449,272 $544,438 
(1)Corporate EBITDA consists of costs related to our corporate headquarter’s broad support to our business units and other costs that are managed centrally and not allocated to business segments. These include personnel and other costs for company-wide functions such as executive leadership, human resources, technology, cybersecurity, legal, corporate finance, internal audit, and risk management, as well as asbestos-related product liability costs and A/R Sales Agreement fees.
(2)The following table presents a summary of the other unallocated costs:

Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Other unallocated costs:
Restructuring and other costs (3)$(45,712)$(37,247)$(100,482)$(120,289)
Acquisition and integration related costs and other (4)— (24,778)(14,035)(24,778)
Total other unallocated costs$(45,712)$(62,025)$(114,517)$(145,067)
(3)Please refer to the Restructuring and Other Costs Footnote in the Notes to Condensed Consolidated Financial Statements for more information.
(4)Adjustment primarily reflects lease and other exit costs related to the ongoing integration of acquired independent automotive stores.
The following table presents a summary of our reportable segment total assets, as well as Corporate and other unallocated reconciling items:
As of June 30,
(in thousands)20252024
Assets:
Automotive$11,337,753 $10,075,903 
Industrial3,464,425 3,532,669 
Corporate (5)656,717 583,199 
Goodwill and other intangible assets4,972,172 4,677,622 
Total assets$20,431,067 $18,869,393 
Long-lived assets:
United States$1,199,197 $1,071,053 
Europe417,116 358,682 
Canada199,785 163,864 
Australasia236,388 193,344 
Mexico963 879 
Total long-lived assets$2,053,449 $1,787,822 
(5)Corporate is a reconciling category that includes our corporate offices, substantially all financing activities and any other items that are not allocated to the business segments other than goodwill and other intangible assets.
The following table presents a summary of select financial information by reportable segment, as well as Corporate and other unallocated reconciling items:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Depreciation and amortization:
Automotive$57,611 $49,089 $117,714 $95,829 
Industrial9,828 8,166 19,492 16,314 
Corporate17,788 7,262 26,585 8,884 
Intangible asset amortization37,791 34,685 74,662 68,785 
Total depreciation and amortization$123,018 $99,202 $238,453 $189,812 
Capital expenditures:
Automotive$66,911 $80,930 $132,045 $146,662 
Industrial4,070 20,290 19,236 32,703 
Corporate58,001 38,457 97,541 78,966 
Total capital expenditures$128,982 $139,677 $248,822 $258,331 
Net sales:
United States$3,991,977 $3,899,904 $7,845,755 $7,683,833 
Europe1,013,110 961,854 1,985,975 1,938,636 
Canada547,322 531,711 1,010,796 1,004,514 
Australasia586,697 546,648 1,139,051 1,076,481 
Mexico25,319 22,450 48,917 42,734 
Total net sales$6,164,425 $5,962,567 $12,030,494 $11,746,198 
Net sales are disaggregated by geographical region for each of our reportable segments, as we deem this presentation best depicts how the nature, amount, timing and uncertainty of net sales and cash flows are affected by economic factors. 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)2025202420252024
North America:
Automotive$2,444,377 $2,352,254 $4,709,158 $4,549,144 
Industrial2,120,241 2,101,811 4,196,310 4,181,937 
Total North America $4,564,618 $4,454,065 $8,905,468 $8,731,081 
Australasia:
Automotive$454,794 $412,883 $882,036 $813,231 
Industrial131,903 133,765 257,015 263,250 
Total Australasia$586,697 $546,648 $1,139,051 $1,076,481 
Europe – Automotive$1,013,110 $961,854 $1,985,975 $1,938,636 
Total net sales$6,164,425 $5,962,567 $12,030,494 $11,746,198