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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Schedule of Segment Information
The following table presents a summary of the Company's reportable segment financial information from continuing operations:
 Three Months Ended June 30,Six Months Ended June 30,
 2021202020212020
Net sales:
Automotive
$3,196,299 $2,495,799 $6,149,464 $5,078,484 
Industrial
1,587,439 1,327,428 3,098,988 2,837,269 
Total net sales
$4,783,738 $3,823,227 $9,248,452 $7,915,753 
Segment profit:
Automotive
$290,758 $218,906 $526,436 $361,484 
Industrial
150,413 108,928 275,705 222,861 
Total segment profit
441,171 327,834 802,141 584,345 
Interest expense, net
(15,362)(24,876)(33,686)(44,744)
Intangible asset amortization
(27,384)(23,256)(52,928)(45,996)
Corporate expense
(51,397)(28,613)(82,640)(83,674)
Other unallocated costs (1)(77,421)(555,525)(77,421)(553,774)
Income (loss) before income taxes from continuing operations$269,607 $(304,436)$555,466 $(143,843)
(1)The following table presents a summary of the other unallocated costs:
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Other unallocated costs:
Product liability damages award (2)$(77,421)$— $(77,421)$— 
Goodwill impairment charge (3)— (506,721)— (506,721)
Restructuring costs (4)— (25,059)— (28,041)
Realized currency loss (5)— (11,356)— (11,356)
Gain on insurance proceeds related to SPR Fire (6)— 1,166 — 13,448 
Transaction and other costs (7)— (13,555)— (21,104)
Total other unallocated costs$(77,421)$(555,525)$(77,421)$(553,774)
(2)Adjustment reflects damages reinstated by the Washington Supreme Court order on July 8, 2021 in connection with a 2017 automotive product liability claim. Refer to the commitments and contingencies footnote to the condensed consolidated financial statements for more information.
(3)Adjustment reflects the 2020 goodwill impairment charge related to the Company's European reporting unit.
(4)Adjustment reflects restructuring costs related to the execution of certain restructuring actions across the Company's subsidiaries primarily targeted at simplifying the organizational structures and distribution networks implemented by the Company in October 2019 (the “2019 Cost Savings Plan”). The costs are primarily associated with severance and other employee costs, including a voluntary retirement program, and facility and closure costs related to the consolidation of operations.
(5)Adjustment reflects realized currency losses related to divestitures.
(6)Adjustment reflects insurance recoveries in excess of losses incurred on inventory, property, plant and equipment and other fire-related costs related to the S.P. Richards Headquarters and Distribution Center.
(7)Adjustment reflects (i) $2,481 and $8,490 of incremental costs associated with COVID-19 for the three and six months ended June 30, 2020, respectively, and (ii) costs associated with certain divestitures. COVID-19 related costs include
incremental costs incurred relating to fees to cancel marketing events and increased cleaning and sanitization materials, among other things.
Schedule of Revenue from External Customers by Geographic Areas 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,
2021202020212020
North America:
Automotive
$2,076,562 $1,715,567 $3,939,367 $3,447,063 
Industrial
1,469,775 1,231,208 2,869,174 2,641,923 
Total North America
$3,546,337 $2,946,775 $6,808,541 $6,088,986 
Australasia:
Automotive
$388,708 $282,797 $756,577 $555,721 
Industrial
117,664 96,220 229,814 195,346 
Total Australasia
$506,372 $379,017 $986,391 $751,067 
Europe – Automotive
$731,029 $497,435 $1,453,520 $1,075,700 
Total net sales
$4,783,738 $3,823,227 $9,248,452 $7,915,753