Segment Information

6 Months Ended

Jun. 30, 2019

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



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Net sales:
Automotive	$	2,774,808		$	2,736,201		$	5,397,153		$	5,300,460
Industrial	1,681,721			1,602,665			3,317,144			3,150,609
Business products	477,731			483,199			956,796			957,290
Total net sales	$	4,934,260		$	4,822,065		$	9,671,093		$	9,408,359
Operating profit:
Automotive	$	228,385		$	243,611		$	407,613		$	428,317
Industrial	136,334			125,191			257,362			237,382
Business products	20,896			21,422			42,116			43,023
Total operating profit	385,615			390,224			707,091			708,722
Interest expense, net	(22,514		)	(25,525		)	(45,543		)	(48,832		)
Intangible asset amortization	(23,917		)	(21,806		)	(46,501		)	(43,209		)
Corporate expense (1)	(37,055		)	(42,622		)	(101,406		)	(87,091		)
Income before income taxes	$	302,129		$	300,271		$	513,641		$	529,590


(1)	Includes $4,108 and $38,222 of expenses for the three and six months ended June 30, 2019, respectively, from realized currency losses and transaction and other costs. The realized currency losses of $27,037 for the six months ended June 30, 2019 resulted from the March 7, 2019 sale of Grupo Auto Todo. Refer to the acquisitions and divestitures footnote for more information.

Includes $9,105 and $22,114 for the three and six months ended June 30, 2018, respectively, in certain transaction and other costs related to the acquisition of Alliance Automotive Group ("AAG") and the attempted Business Products Group spin-off (the attempted spin-off was subsequently terminated in September 2018).

Net sales are disaggregated by geographical region for each of the Company’s reportable segments, as the Company deems 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,
	2019		2018		2019		2018
North America:
Automotive	$	1,963,583	$	1,944,980	$	3,777,368	$	3,727,294
Industrial	1,681,721		1,602,665		3,317,144		3,150,609
Business products	477,731		483,199		956,796		957,290
Total North America	$	4,123,035	$	4,030,844	$	8,051,308	$	7,835,193
Australasia – Automotive	286,717		302,799		571,270		604,803
Europe – Automotive	524,508		488,422		1,048,515		968,363
Total net sales	$	4,934,260	$	4,822,065	$	9,671,093	$	9,408,359