Segment Information (Tables)

9 Months Ended

Sep. 30, 2018

The following table presents a summary of the Company's reportable segment financial information:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Net sales: (1)
Automotive	$	2,649,716		$	2,149,865		$	7,950,176		$	6,271,233
Industrial (2)	1,577,329			1,456,651			4,727,938			4,359,819
Business products	495,877			489,390			1,453,167			1,470,673
Total net sales	$	4,722,922		$	4,095,906		$	14,131,281		$	12,101,725
Operating profit:
Automotive	226,742			178,202			655,059			537,291
Industrial (2)	119,153			108,142			356,535			323,984
Business products	19,846			23,974			62,869			85,184
Total operating profit	365,741			310,318			1,074,463			946,459
Interest expense, net	(21,881		)	(8,202		)	(70,713		)	(21,254		)
Intangible asset amortization	(23,593		)	(11,845		)	(66,802		)	(34,085		)
Corporate expense (3)	(28,532		)	(43,916		)	(115,623		)	(103,853		)
Income before income taxes	$	291,735		$	246,355		$	821,325		$	787,267


(1)	The net effect of discounts, incentives, and freight billed to customers has been allocated to their respective segments for the current and prior periods. Previously, the net effect of such items were captured and presented separately in a line item entitled “Other.”


(2)	Effective January 1, 2018, the electrical/electronic materials segment became a division of the industrial segment. These two reporting segments became a single reporting segment, the Industrial Parts Group. The change in segment reporting is presented retrospectively.

(3)

Includes $3,104 of income and $19,010 of expense for the three and nine months ended September 30, 2018, respectively, from transaction and other costs related to the Alliance Automotive Group ("AAG") acquisition and the attempted Business Products Group spin-off, net of a $12,000 termination fee received in the third quarter. See the acquisitions and divestitures footnote for additional information.

The three and nine months ended September 30, 2017 include $18,556 in transaction and other costs primarily related to the AAG acquisition.

Revenue from External Customers by Geographic Areas

The following table presents disaggregated geographical net sales from contracts with customers by reportable segment:



	Primary Geographical Markets
	Three Months Ended September 30,
	North America				Australasia				Europe				Total
	2018		2017		2018		2017		2018		2017		2018		2017
Reportable segments:
Automotive	$	1,918,814	$	1,842,688	$	298,797	$	307,177	$	432,105	$	—	$	2,649,716	$	2,149,865
Industrial	1,577,329		1,456,651		—		—		—		—		1,577,329		1,456,651
Business products	495,877		489,390		—		—		—		—		495,877		489,390
Net sales	$	3,992,020	$	3,788,729	$	298,797	$	307,177	$	432,105	$	—	$	4,722,922	$	4,095,906



	Primary Geographical Markets
	Nine Months Ended September 30,
	North America				Australasia				Europe				Total
	2018		2017		2018		2017		2018		2017		2018		2017
Reportable segments:
Automotive	$	5,646,108	$	5,405,717	$	903,600	$	865,516	$	1,400,468	$	—	$	7,950,176	$	6,271,233
Industrial	4,727,938		4,359,819		—		—		—		—		4,727,938		4,359,819
Business products	1,453,167		1,470,673		—		—		—		—		1,453,167		1,470,673
Net sales	$	11,827,213	$	11,236,209	$	903,600	$	865,516	$	1,400,468	$	—	$	14,131,281	$	12,101,725