Segment and Geographic Information (Tables)

6 Months Ended

Jun. 30, 2017

The following tables present our financial performance by reportable segment for the periods indicated (in thousands):



	North America ⁽¹⁾		Europe			Specialty ⁽¹⁾		Eliminations			Consolidated
Three Months Ended June 30, 2017
Revenue:
Third Party	$	1,206,305	$	889,751		$	362,355	$	—		$	2,458,411
Intersegment	209		—			1,115		(1,324		)	—
Total segment revenue	$	1,206,514	$	889,751		$	363,470	$	(1,324	)	$	2,458,411
Segment EBITDA	$	173,732	$	83,549		$	48,578	$	—		$	305,859
Depreciation and amortization⁽²⁾	21,823		28,732			5,447		—			56,002
Three Months Ended June 30, 2016
Revenue:
Third Party	$	1,137,213	$	824,216		$	343,377	$	—		$	2,304,806
Intersegment	193		(10		)	1,094		(1,277		)	—
Total segment revenue	$	1,137,406	$	824,206		$	344,471	$	(1,277	)	$	2,304,806
Segment EBITDA	$	166,075	$	89,982		$	43,546	$	—		$	299,603
Depreciation and amortization⁽²⁾	20,285		28,280			5,403		—			53,968



	North America ⁽¹⁾		Europe		Specialty ⁽¹⁾		Eliminations			Consolidated
Six Months Ended June 30, 2017
Revenue:
Third Party	$	2,414,352	$	1,710,648	$	676,254	$	—		$	4,801,254
Intersegment	402		—		2,150		(2,552		)	—
Total segment revenue	$	2,414,754	$	1,710,648	$	678,404	$	(2,552	)	$	4,801,254
Segment EBITDA	$	349,867	$	162,243	$	84,019	$	—		$	596,129
Depreciation and amortization⁽²⁾	42,201		53,483		10,922		—			106,606
Six Months Ended June 30, 2016
Revenue:
Third Party	$	2,217,819	$	1,370,967	$	637,496	$	—		$	4,226,282
Intersegment	407		—		2,045		(2,452		)	—
Total segment revenue	$	2,218,226	$	1,370,967	$	639,541	$	(2,452	)	$	4,226,282
Segment EBITDA	$	311,766	$	147,480	$	76,968	$	—		$	536,214
Depreciation and amortization⁽²⁾	37,675		38,588		10,871		—			87,134

The table below provides a reconciliation of Net Income to Segment EBITDA (in thousands):



	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2017		2016			2017			2016
Net income	$	150,914	$	142,785		$	287,192		$	254,956
Subtract:
Income (loss) from discontinued operations, net of tax	—		4,975			(4,531		)	4,975
Income from continuing operations	150,914		137,810			291,723			249,981
Add:
Depreciation and amortization	53,645		52,501			102,301			84,189
Depreciation and amortization - cost of goods sold	2,357		1,467			4,305			2,945
Interest expense, net	24,596		24,649			48,584			39,241
Loss on debt extinguishment	—		—			—			26,650
Provision for income taxes	75,862		70,262			148,017			123,390
EBITDA	307,374		286,689			594,930			526,396
Subtract:
Equity in earnings (loss) of unconsolidated subsidiaries	991		(186		)	1,205			(548		)
Gains on foreign exchange contracts - acquisition related ⁽¹⁾	—		—			—			18,342
Gain on bargain purchase ⁽²⁾	3,077		—			3,077			—
Add:
Restructuring and acquisition related expenses ⁽³⁾	2,521		9,080			5,449			23,891
Inventory step-up adjustment - acquisition related ⁽⁴⁾	—		3,602			—			3,602
Change in fair value of contingent consideration liabilities	32		46			32			119
Segment EBITDA	$	305,859	$	299,603		$	596,129		$	536,214


(1)	Reflects gains on foreign currency forwards used to fix the euro purchase price of Rhiag. See Note 2, "Business Combinations," for further information.


(2)	Reflects the gain on bargain purchase related to our acquisitions of Andrew Page and a wholesale business in Europe. See Note 2, "Business Combinations," for further information.


(3)	See Note 5, "Restructuring and Acquisition Related Expenses," for further information.


(4)	Reflects the impact on Cost of Goods Sold of the step-up acquisition adjustment to record PGW inventory at its fair value.

The following table presents capital expenditures by reportable segment (in thousands):

The following table presents assets by reportable segment (in thousands):



	June 30,		December 31,
	2017		2016 ⁽¹⁾
Receivables, net
North America	$	378,038	$	351,681
Europe	508,940		443,281
Specialty	114,268		65,587
Total receivables, net	1,001,246		860,549
Inventories
North America	987,583		915,244
Europe	793,322		718,729
Specialty	282,557		301,264
Total inventories	2,063,462		1,935,237
Property and Equipment, net
North America	509,959		505,925
Europe	273,194		247,910
Specialty	58,455		57,741
Total property and equipment, net	841,608		811,576
Equity Method Investments
North America	336		336
Europe	181,660		183,131
Total equity method investments	181,996		183,467
Other unallocated assets	4,342,630		4,512,370
Total assets	$	8,430,942	$	8,303,199

The following table sets forth our revenue by geographic area (in thousands):

The following table sets forth our tangible long-lived assets by geographic area (in thousands):

The following table sets forth our revenue by product category (in thousands):



	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Aftermarket, other new and refurbished products	$	1,862,573	$	1,751,079	$	3,620,635	$	3,138,815
Recycled, remanufactured and related products and services	463,310		435,023		918,189		865,612
Other	132,528		118,704		262,430		221,855
Total revenue	$	2,458,411	$	2,304,806	$	4,801,254	$	4,226,282