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LKQ LKQ

Document and Entity Information

Document and Entity Information - shares3 Months Ended
Mar. 31, 2021Apr. 30, 2021
Cover [Abstract]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateMar. 31,
2021
Document Transition Reportfalse
Entity File Number000-50404
Entity Registrant NameLKQ CORPORATION
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number36-4215970
Entity Address, Address Line One500 West Madison Street,
Entity Address, Address Line TwoSuite 2800
Entity Address, City or TownChicago,
Entity Address, State or ProvinceIL
Entity Address, Postal Zip Code60661
City Area Code312
Local Phone Number621-1950
Title of 12(b) SecurityCommon Stock, par value $.01 per share
Trading SymbolLKQ
Security Exchange NameNASDAQ
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding302,159,885
Amendment Flagfalse
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1
Entity Central Index Key0001065696
Current Fiscal Year End Date--12-31

Consolidated Statements of Inco

Consolidated Statements of Income Statement - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Revenue $ 3,170,786 $ 3,000,935
Cost of goods sold1,877,072 1,787,059
Gross margin1,293,714 1,213,876
Selling, general and administrative expenses848,565 899,811
Restructuring and acquisition related expenses7,885 6,970
Impairment of net assets held for sale and (gain on disposal of business)15 (249)
Depreciation and amortization65,801 65,495
Operating income371,448 241,849
Other expense (income):
Interest expense, net of interest income24,179 25,931
Loss on debt extinguishment0 (12,751)
Other income, net(6,213)(3,622)
Total other expense, net17,966 35,060
Income from continuing operations before provision for income taxes353,482 206,789
Provision for income taxes92,969 60,411
Equity in earnings of unconsolidated subsidiaries5,819 516
Income from continuing operations266,332 146,894
Net loss from discontinued operations0 (915)
Net income266,332 145,979
Less: net income attributable to continuing noncontrolling interest419 740
Less: net income attributable to discontinued noncontrolling interest0 103
Net income attributable to LKQ stockholders $ 265,913 $ 145,136
Basic earnings per share: (1)
Income from continuing operations $ 0.88 $ 0.48
Net loss from discontinued operations0 0
Net income0.880.48
Less: net income attributable to continuing noncontrolling interest0 0
Less: net income attributable to discontinued noncontrolling interest0 0
Net income attributable to LKQ stockholders0.880.47
Diluted earnings per share: (1)
Income from continuing operations0.880.48
Net loss from discontinued operations0 0
Net income0.880.48
Less: net income attributable to continuing noncontrolling interest0 0
Less: net income attributable to discontinued noncontrolling interest0 0
Net income attributable to LKQ stockholders $ 0.88 $ 0.47

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income $ 266,332 $ 145,979
Less: net income attributable to continuing noncontrolling interest419 740
Less: net income attributable to discontinued noncontrolling interest0 103
Net income attributable to LKQ stockholders265,913 145,136
Other comprehensive income (loss):
Foreign currency translation, net of tax(24,572)(103,965)
Net change in unrealized gains/losses on cash flow hedges, net of tax658 (7,321)
Net change in unrealized gains/losses on pension plans, net of tax313 120
Other comprehensive loss from unconsolidated subsidiaries(3,512)(1,852)
Other comprehensive loss(27,113)(113,018)
Comprehensive income239,219 32,961
Less: comprehensive income attributable to continuing noncontrolling interest419 740
Less: comprehensive income attributable to discontinued noncontrolling interest0 103
Comprehensive income attributable to LKQ stockholders $ 238,800 $ 32,118

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Current assets:
Cash and cash equivalents $ 312,154
Receivables, net $ 1,252,374 1,073,389
Inventories2,392,714 2,414,612
Prepaid expenses and other current assets218,664 233,877
Total current assets4,453,946 4,034,032
Property, plant and equipment, net1,204,643 1,248,703
Operating lease assets, net1,373,238 1,353,124
Intangible assets:
Goodwill4,515,634 4,591,569
Other intangibles, net777,372 814,219
Equity method investments170,729 155,224
Other noncurrent assets169,895 163,662
Total assets12,665,457 12,360,533
Current liabilities:
Accounts payable1,228,524 932,406
Accrued expenses:
Accrued payroll-related liabilities202,333 208,718
Refund liability104,534 102,148
Other accrued expenses356,126 334,890
Other current liabilities104,510 130,021
Current portion of operating lease liabilities200,637 221,811
Current portion of long-term obligations239,962 58,497
Total current liabilities2,436,626 1,988,491
Long-term operating lease liabilities, excluding current portion1,219,267 1,197,963
Long-term obligations, excluding current portion2,471,730 2,812,641
Deferred income taxes285,584 291,421
Other noncurrent liabilities369,546 374,640
Redeemable noncontrolling interest24,077 24,077
Stockholders' equity:
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 321,170,573 shares issued and 302,370,072 shares outstanding at March 31, 2021; 320,867,602 shares issued and 303,553,000 shares outstanding at December 31, 20203,212 3,208
Additional paid-in capital1,449,667 1,444,584
Retained earnings5,041,953 4,776,040
Accumulated other comprehensive loss(126,122)(99,009)
Treasury stock, at cost; 18,800,501 shares at March 31, 2021 and 17,314,602 shares at December 31, 2020(526,084)(469,105)
Total Company stockholders' equity5,842,626 5,655,718
Noncontrolling interest16,001 15,582
Total stockholders' equity5,858,627 5,671,300
Total liabilities and stockholders' equity $ 12,665,457 $ 12,360,533

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / sharesMar. 31, 2021Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value $ 0.01 $ 0.01
Common stock, shares authorized1,000,000,000 1,000,000,000
Common stock, shares issued321,170,573 320,867,602
Common stock, shares outstanding302,370,072 303,553,000
Treasury Stock, Common, Shares18,800,501 17,314,602

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 266,332,000 $ 145,979,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization71,597,000 71,379,000
Stock-based compensation expense7,792,000 7,968,000
Loss on debt extinguishment0 12,751,000
Other(9,202,000)(2,970,000)
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:
Receivables, net(197,594,000)(63,938,000)
Inventories(13,469,000)(7,522,000)
Prepaid income taxes/income taxes payable(20,694,000)41,585,000
Accounts payable331,383,000 (27,170,000)
Other operating assets and liabilities86,367,000 16,501,000
Net cash provided by operating activities522,512,000 194,563,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment(41,779,000)(44,538,000)
Proceeds from disposals of property, plant and equipment7,601,000 5,528,000
Acquisitions, net of cash acquired(2,385,000)(7,220,000)
Proceeds from disposal of businesses, net of cash sold5,944,000 1,763,000
Investments in unconsolidated subsidiaries(2,824,000)(405,000)
Net cash used in investing activities(33,443,000)(44,872,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Early-redemption premium0 (9,498,000)
Repayment of U.S. Notes (2023)0 (600,000,000)
Borrowings under revolving credit facilities1,287,810,000 460,186,000
Repayments under revolving credit facilities1,392,004,000 134,674,000
Repayments under term loans4,375,000 4,375,000
Borrowings under receivables securitization facility0 111,300,000
Repayments under receivables securitization facility0 (12,900,000)
Borrowings (repayments) of other debt, net25,574,000 (49,481,000)
Payments for (Proceeds from) Hedge, Financing Activities(56,804,000)0
Purchase of treasury stock(56,979,000)(88,006,000)
Other financing activities, net11,717,000 7,291,000
Net cash used in financing activities(208,495,000)(334,739,000)
Effect of exchange rate changes on cash, cash equivalents and restricted cash(2,534,000)(11,746,000)
Net increase (decrease) in cash, cash equivalents and restricted cash278,040,000 (196,794,000)
Cash, cash equivalents and restricted cash, end of period590,194,000 338,063,000
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents332,784,000
Restricted cash included in Other noncurrent assets0 5,279,000
Cash, cash equivalents and restricted cash, end of period590,194,000 338,063,000
Supplemental disclosure of cash paid for:
Income taxes, net of refunds116,135,000 22,014,000
Interest5,751,000 13,772,000
Supplemental disclosure of noncash investing and financing activities:
Leased assets obtained in exchange for finance lease liabilities1,828,000 7,718,000
Leased assets obtained in exchange for operating lease liabilities90,784,000 39,460,000
Noncash property, plant and equipment and software intangible additions in accounts payable and other accrued expenses9,127,000 7,594,000
Notes payable and other financing obligations, including notes issued and debt assumed in connection with business acquisitions and disposals179,000 6,136,000
Notes receivable acquired in connection with disposal of business0 7,994,000
Contingent consideration liabilities $ 0 $ 2,933,000

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in ThousandsTotalCommon StockTreasury Stock, Common [Member]Additional Paid-In CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
BALANCE, January 1, 2021(13,196)
BALANCE, January 1, 2021(16,496)
BALANCE, January 1, 2021 at Dec. 31, 2019 $ 5,048,580 $ 3,199 $ (351,813) $ 1,418,239 $ 4,140,136 $ (200,885) $ 39,704
BALANCE, January 1, 2021 at Dec. 31, 2019319,927
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income145,136 145,136
Less: net income attributable to continuing noncontrolling interest740 843
Net income145,979
Other comprehensive income (loss)(113,018)(113,018)
Purchase of treasury stock3,300
Purchase of treasury stock(88,006) $ (88,006)
Restricted Stock Units Vested Shares Net Of Tax Withholdings400
Vesting of restricted stock units, net of shares withheld for employee tax(2,069) $ 4 (2,073)
Stock-based compensation expense7,968 7,968
Exercise of stock options112
Exercise of stock options1,467 $ 1 1,466
Capital contributions from, net of dividends declared to, noncontrolling interest shareholder341 341
Adoption of ASU 2016-13(2,519)(2,519)
Disposition of subsidiary with noncontrolling interests (1)(11,404)(11,404)
BALANCE, March 31, 2021 at Mar. 31, 2020(16,496)
BALANCE, March 31, 2021 at Mar. 31, 20204,987,319 $ 3,204 $ (439,819)1,425,600 4,282,753 (313,903)29,484
BALANCE, March 31, 2021 at Mar. 31, 2020320,439
Increase (Decrease) in Stockholders' Equity [Roll Forward]
BALANCE, January 1, 2021(16,496)
BALANCE, January 1, 2021(17,315)
BALANCE, January 1, 2021(18,801)
BALANCE, January 1, 2021 at Dec. 31, 20205,671,300 $ 3,208 $ (469,105)1,444,584 4,776,040 (99,009)15,582
BALANCE, January 1, 2021 at Dec. 31, 2020320,868
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income265,913 265,913
Less: net income attributable to continuing noncontrolling interest419 419
Net income266,332
Other comprehensive income (loss)(27,113)(27,113)
Purchase of treasury stock1,486
Purchase of treasury stock(56,979) $ (56,979)
Restricted Stock Units Vested Shares Net Of Tax Withholdings303
Vesting of restricted stock units, net of shares withheld for employee tax(2,705) $ 4 (2,709)
Stock-based compensation expense7,792 7,792
BALANCE, March 31, 2021 at Mar. 31, 2021(18,801)
BALANCE, March 31, 2021 at Mar. 31, 2021 $ 5,858,627 $ 3,212 $ (526,084) $ 1,449,667 $ 5,041,953 $ (126,122) $ 16,001
BALANCE, March 31, 2021 at Mar. 31, 2021321,171
Increase (Decrease) in Stockholders' Equity [Roll Forward]
BALANCE, January 1, 2021(18,801)

Interim Financial Statements

Interim Financial Statements3 Months Ended
Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BusinessInterim Financial Statements The accompanying unaudited condensed consolidated financial statements represent the consolidation of LKQ Corporation, a Delaware corporation, and its subsidiaries. LKQ Corporation is a holding company and all operations are conducted by subsidiaries. When the terms "LKQ," "the Company," "we," "us," or "our" are used in this document, those terms refer to LKQ Corporation and its consolidated subsidiaries. We have prepared the accompanying unaudited condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") applicable to interim financial statements. Accordingly, certain information related to our significant accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted. These unaudited condensed consolidated financial statements reflect, in the opinion of management, all material adjustments (which include only normally recurring adjustments) necessary to fairly state, in all material respects, our financial position, results of operations and cash flows for the periods presented. Results for interim periods are not necessarily indicative of the results that can be expected for any subsequent interim period or for a full year. These interim financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on February 26, 2021 ("2020 Form 10-K"). The coronavirus disease 2019 ("COVID-19") pandemic and the resulting governmental actions taken to control the virus have impacted, and are expected to continue to impact, our business in 2020 and 2021. The effects include, but are not limited to, a reduction in demand for our products and services, liquidity challenges for certain of our customers and suppliers, and organizational changes, such as personnel reductions and route consolidation, driven by cost actions to mitigate the actual and expected revenue decline. We have considered COVID-19 impacts in the preparation of our financial statements and footnotes as of and for the three months ended March 31, 2021. Specific disclosures are presented in the following footnotes as applicable. The continuing impact of COVID-19 on our business, results of operations, financial condition and cash flows is dependent on future developments, including the severity and duration of the pandemic and the related impact on the global economy, which are uncertain and cannot be predicted at this time, but may be material.

Discontinued Operations (Notes)

Discontinued Operations (Notes)3 Months Ended
Mar. 31, 2021
Discontinued Operations [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]Discontinued OperationsOn May 30, 2018, we acquired Stahlgruber GmbH ("Stahlgruber"), a leading European wholesale distributor of aftermarket spare parts for passenger cars, tools, capital equipment and accessories with operations in Germany, Austria, Italy, Slovenia, and Croatia, with further sales to Switzerland. Prior to closing, on May 3, 2018, the European Commission cleared the acquisition of Stahlgruber for the entire European Union, except with respect to the wholesale automotive parts business in the Czech Republic. The acquisition of Stahlgruber’s Czech Republic wholesale business was referred to the Czech Republic competition authority for review. On May 10, 2019, the Czech Republic competition authority approved our acquisition of Stahlgruber’s Czech Republic wholesale business subject to the requirement that we divest certain of the acquired locations. We acquired Stahlgruber’s Czech Republic wholesale business on May 29, 2019 and decided to divest all of the acquired locations. We immediately classified the business as discontinued operations because the business was never integrated into our Europe segment.We completed the sale of Stahlgruber's Czech Republic business on February 28, 2020, resulting in an immaterial loss on sale (presented in Net (loss) income from discontinued operations in the Unaudited Condensed Consolidated Statements of Income). As part of the transaction, we purchased the 48.2% noncontrolling interest from the minority shareholder for a purchase price of €8 million, which included the issuance of €4 million of notes payable, and then immediately thereafter sold 100% of the business for a purchase price of €14 million, which included €7 million of notes receivable. This transaction resulted in a disposition of noncontrolling interest of $11 million. From January 1, 2020 through the date of sale, we recorded an immaterial amount of net income (excluding the loss on sale) from discontinued operations related to the business, of which an immaterial amount was attributable to the noncontrolling interest.

Financial Statement Information

Financial Statement Information (Notes)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Financial Statement Information [Text Block]Financial Statement Information Allowance for Credit Losses Receivables, net are reported net of an allowance for credit losses. Management evaluates the aging of customer receivable balances, the financial condition of our customers, historical trends, and macroeconomic factors to estimate the amount of customer receivables that may not be collected in the future and records a provision it believes is appropriate. Our reserve for expected lifetime credit losses was $68 million and $70 million as of March 31, 2021 and December 31, 2020, respectively. Bad debt expense totaled $2 million and $9 million for the three months ended March 31, 2021 and 2020, respectively. Inventories Inventories consist of the following (in thousands): March 31, December 31, 2021 2020 Aftermarket and refurbished products $ 2,020,707 $ 2,025,002 Salvage and remanufactured products 349,539 368,815 Manufactured products 22,468 20,795 Total inventories $ 2,392,714 $ 2,414,612 Aftermarket and refurbished products and salvage and remanufactured products are primarily composed of finished goods. As of March 31, 2021, manufactured products inventory was composed of $17 million of raw materials, $4 million of work in process, and $2 million of finished goods. As of December 31, 2020, manufactured products inventory was composed of $16 million of raw materials, $3 million of work in process, and $2 million of finished goods. Intangible Assets Goodwill and indefinite-lived intangible assets are tested for impairment at least annually. We performed our annual impairment test during the fourth quarter of 2020 and we determined no impairment existed as all of our reporting units had a fair value estimate which exceeded the carrying value by at least 30%. Goodwill impairment testing may also be performed on an interim basis when events or circumstances arise that may lead to impairment. The fair value estimates of our reporting units were established using weightings of the results of a discounted cash flow methodology and a comparative market multiples approach. We did not identify a triggering event in the first quarter of 2021 that necessitated an interim test of goodwill impairment or indefinite-lived intangible assets impairment. Investments in Unconsolidated Subsidiaries Our investment in unconsolidated subsidiaries was $171 million and $155 million as of March 31, 2021 and December 31, 2020, respectively. Europe Segment Our investment in unconsolidated subsidiaries in Europe was $150 million and $137 million as of March 31, 2021 and December 31, 2020, respectively. We recorded equity in earnings of $6 million and $1 million during the three months ended March 31, 2021 and 2020, respectively, mainly related to our investment in Mekonomen AB ("Mekonomen"). On December 1, 2016, we acquired a 26.5% equity interest in Mekonomen for an aggregate purchase price of $181 million. In October 2018, we acquired an additional $48 million of equity in Mekonomen at a discounted share price as part of its rights issue, increasing our equity interest to 26.6%. We are accounting for our interest in Mekonomen using the equity method of accounting, as our investment gives us the ability to exercise significant influence, but not control, over the investee. As of March 31, 2021, our share of the book value of Mekonomen's net assets exceeded the book value of our investment in Mekonomen by $7 million; this difference is primarily related to Mekonomen's Accumulated Other Comprehensive Income balance as of our acquisition date in 2016. We are recording our equity in the net earnings of Mekonomen on a one quarter lag. Mekonomen announced in March 2020 and February 2021, respectively, that the Mekonomen Board of Directors proposed no dividend payment in 2020 or 2021. The Level 1 fair value of our equity investment in the publicly traded Mekonomen common stock at March 31, 2021 was $230 million (using the Mekonomen share price of SEK 129 as of March 31, 2021) compared to a carrying value of $139 million. North America Segment Our investment in unconsolidated subsidiaries in the North America segment was $21 million and $19 million as of March 31, 2021 and December 31, 2020, respectively. Warranty Reserve Some of our salvage mechanical products are sold with a standard six month warranty against defects. Additionally, some of our remanufactured engines are sold with a standard three or four year warranty against defects. We also provide a limited lifetime warranty for certain of our aftermarket products. These assurance-type warranties are not considered a separate performance obligation, and thus no transaction price is allocated to them. We record the warranty costs in Cost of goods sold in our Unaudited Condensed Consolidated Statements of Income. Our warranty reserve is calculated using historical claim information to project future warranty claims activity and is recorded within Other accrued expenses and Other noncurrent liabilities on our Unaudited Condensed Consolidated Balance Sheets based on the expected timing of the related payments. The changes in the warranty reserve are as follows (in thousands): Balance as of December 31, 2020 $ 27,914 Warranty expense 18,470 Warranty claims (17,917) Balance as of March 31, 2021 $ 28,467 Litigation and Related Contingencies We have certain contingencies resulting from litigation, claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business. We currently expect that the resolution of such contingencies will not materially affect our financial position, results of operations or cash flows. Government Assistance During the three months ended March 31, 2021, we recorded $9 million in financial assistance from foreign governments, primarily in the form of grants, of which $7 million and $2 million related to Europe and Canada, respectively. For the three months ended March 31, 2021, an immaterial amount was recorded as a reduction to Cost of goods sold, and $9 million was a reduction to Selling, general and administrative expenses, in our Unaudited Condensed Consolidated Statement of Income. Financial assistance received from governments is recorded during the period in which we incur the costs that the assistance is intended to offset (and only if it is probable that we will meet the conditions required under the terms of the assistance). No government assistance was recorded for the three months ended March 31, 2020. Leases - Cash Flow Disclosure The amount disclosed for Leased assets obtained in exchange for operating lease liabilities for the three months ended March 31, 2020 in the supplemental disclosure of noncash investing and financing activities in the Unaudited Condensed Consolidated Statements of Cash Flows includes an immaterial correction of $18 million to address an omission of the impact of lease modifications and terminations. Stockholders' Equity Treasury Stock As of March 31, 2021, our Board of Directors had authorized a stock repurchase program under which we may purchase up to $1.0 billion of our common stock from time to time through October 25, 2022. Repurchases under the program may be made in the open market or in privately negotiated transactions, with the amount and timing of repurchases depending on market conditions and corporate needs. The repurchase program does not obligate us to acquire any specific number of shares and may be suspended or discontinued at any time. During the three months ended March 31, 2021, we repurchased 1.5 million shares of common stock for an aggregate price of $57 million. During the three months ended March 31, 2020, we repurchased 3.3 million shares of common stock for an aggregate price of $88 million. As of March 31, 2021, there was $474 million of remaining capacity under our repurchase program. Repurchased shares are accounted for as treasury stock using the cost method. Noncontrolling Interest In February 2020, as part of the sale of Stahlgruber's Czech Republic business, we divested the noncontrolling interest of the business, which resulted in a net decrease to Noncontrolling interest of $11 million in our unaudited condensed consolidated financial statements as of March 31, 2020. See Note 2, "Discontinued Operations," for further information. In December 2019, we modified the shares of a noncontrolling interest of a subsidiary acquired in connection with the Stahlgruber acquisition and issued new redeemable shares to the minority shareholder. The new redeemable shares contain (i) a put option for all noncontrolling interest shares at a fixed price of $24 million (€21 million) for the minority shareholder exercisable in the fourth quarter of 2023, (ii) a call option for all noncontrolling interest shares at a fixed price of $26 million (€23 million) for the Company exercisable beginning in the first quarter of 2026 through the end of the fourth quarter of 2027, and (iii) a guaranteed dividend to be paid quarterly to the minority shareholder through the fourth quarter of 2023. The new redeemable shares do not provide the minority shareholder with rights to participate in the profits and losses of the subsidiary prior to the exercise date of the put option. As the put option is outside the control of the Company, we recorded a $24 million Redeemable noncontrolling interest at the put option's redemption value outside of permanent equity on our Unaudited Condensed Consolidated Balance Sheets. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In the first quarter of 2021, we adopted ASU No. 2019-12, "Income Taxes" (Topic 740) ("ASU 2019-12"), which simplifies the accounting for income taxes and adds guidance to reduce complexity in certain areas. We adopted the standard in the first quarter using the prospective approach. The adoption of this accounting standard did not have a material impact on our unaudited condensed consolidated financial statements. Recently Issued Accounting Pronouncements In March 2020, the FASB issued ASU No. 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting" ("ASU 2020-04"), which provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. ASU 2020-04 provides optional expedients and exceptions for applying generally accepted accounting principles to transactions affected by reference rate reform if certain criteria are met. These transactions include contract modifications, hedging relationships, and sale or transfer of debt securities classified as held-to-maturity. Entities may apply the provisions of the new standard as of the beginning of the reporting period when the election is made (i.e., as early as the first quarter of 2020). Unlike other topics, the provisions of this update are only available until December 31, 2022. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures, and we have not yet elected an adoption date.
Goodwill and Intangible Assets DisclosureIntangible AssetsGoodwill and indefinite-lived intangible assets are tested for impairment at least annually. We performed our annual impairment test during the fourth quarter of 2020 and we determined no impairment existed as all of our reporting units had a fair value estimate which exceeded the carrying value by at least 30%. Goodwill impairment testing may also be performed on an interim basis when events or circumstances arise that may lead to impairment. The fair value estimates of our reporting units were established using weightings of the results of a discounted cash flow methodology and a comparative market multiples approach. We did not identify a triggering event in the first quarter of 2021 that necessitated an interim test of goodwill impairment or indefinite-lived intangible assets impairment.

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Reconition (Notes)3 Months Ended
Mar. 31, 2021
Revenue Recognition [Abstract]
Revenue From Contract With CustomerRevenue Recognition The majority of our revenue is derived from the sale of vehicle parts. We recognize revenue when the products are shipped to, delivered to or picked up by customers, which is the point when title has transferred and risk of ownership has passed. Sources of Revenue We report our revenue in two categories: (i) parts and services and (ii) other. The following table sets forth our revenue by category, with our parts and services revenue further disaggregated by reportable segment (in thousands): Three Months Ended March 31, 2021 2020 North America $ 1,018,437 $ 1,107,342 Europe 1,455,370 1,357,969 Specialty 457,959 347,406 Parts and services 2,931,766 2,812,717 Other 239,020 188,218 Total revenue $ 3,170,786 $ 3,000,935 Parts and Services Our parts revenue is generated from the sale of vehicle products including replacement parts, components and systems used in the repair and maintenance of vehicles and specialty products and accessories to improve the performance, functionality and appearance of vehicles. Services revenue includes (i) additional services that are generally billed concurrently with the related product sales, such as the sale of service-type warranties, (ii) fees for admission to our self service yards, and (iii) diagnostic and repair services. In North America, our vehicle replacement products include sheet metal collision parts such as doors, hoods, and fenders; bumper covers; head and tail lamps; automotive glass products such as windshields; mirrors and grilles; wheels; and large mechanical items such as engines and transmissions. In Europe, our products include a wide variety of small mechanical products such as brake pads, discs and sensors; clutches; electrical products such as spark plugs and batteries; steering and suspension products; filters; and oil and automotive fluids. In our Specialty operations, we serve six product segments: truck and off-road; speed and performance; recreational vehicles; towing; wheels, tires and performance handling; and miscellaneous accessories. Our service-type warranties typically have service periods ranging from 6 months to 36 months. Proceeds from these service-type warranties are deferred at contract inception and amortized on a straight-line basis to revenue over the contract period. The changes in deferred service-type warranty revenue are as follows (in thousands): Balance as of January 1, 2021 $ 25,622 Additional warranty revenue deferred 13,511 Warranty revenue recognized (11,834) Balance as of March 31, 2021 $ 27,299 Other Revenue Revenue from other sources includes sales of scrap and precious metals (platinum, palladium, and rhodium), bulk sales to mechanical manufacturers (including cores) and sales of aluminum ingots and sows from our furnace operations. We derive scrap metal and other precious metals from several sources, including vehicles that have been used in both our wholesale and self service recycling operations and from original equipment manufacturers ("OEMs") and other entities that contract with us for secure disposal of "crush only" vehicles. Revenue from the sale of hulks in our wholesale and self service recycling operations is recognized based on a price per ton of delivered material when the customer (processor) collects the scrap. Some adjustments may occur when the customer weighs the scrap at their location, and revenue is adjusted accordingly. Revenue by Geographic Area See Note 14, "Segment and Geographic Information" for information related to our revenue by geographic region. Variable Consideration The amount of revenue ultimately received from the customer can vary due to variable consideration including returns, discounts, rebates, refunds, credits, price concessions, incentives, performance bonuses, or other similar items. Under FASB Accounting Standards Codification Topic 606 ("ASC 606"),

Restructuring and Acquisition R

Restructuring and Acquisition Related Expenses (Notes)3 Months Ended
Mar. 31, 2021
Restructuring and Acquisition Related Expenses [Abstract]
Business Acquisition, Integration, Restructuring and Other Related Costs [Text Block]Restructuring and Acquisition Related Expenses 2019 Global Restructuring Program In the second quarter of 2019, we commenced a cost reduction initiative, covering all three of our reportable segments, designed to eliminate underperforming assets and cost inefficiencies. We have incurred and expect to incur costs for inventory write-downs; employee severance and other expenditures related to employee terminations; lease exit costs, such as lease termination fees, accelerated amortization of operating lease assets and impairment of operating lease assets; other costs related to facility exits, such as moving expenses to relocate inventory and equipment; and accelerated depreciation of fixed assets to be disposed earlier than the end of the previously estimated useful lives. During the three months ended March 31, 2021 and 2020, we incurred $1 million and $3 million, respectively, of restructuring expenses under this program, primarily related to facility exit costs and employee-related costs. These costs were recorded within Restructuring and acquisition related expenses in the Unaudited Condensed Consolidated Statements of Income. The program costs incurred during the three months ended March 31, 2021 primarily related to our Europe segment. Of the program costs incurred during the three months ended March 31, 2020, $2 million and $1 million related to our Europe and North America segments, respectively. The actions under this program are substantially complete. We estimate that total program costs will be approximately $46 million, of which approximately $31 million, $14 million and $1 million will be incurred by our Europe, North America and Specialty segments, respectively. As of March 31, 2021, the remaining expected costs and restructuring liabilities related to this program were immaterial. 2020 Global Restructuring Program Beginning in the first quarter of 2020, we initiated a further restructuring program aimed at cost reductions across all our reportable segments through the elimination of underperforming assets and cost inefficiencies. These actions are incremental to those initiated as part of the 2019 Global Restructuring Program, and include costs for inventory write-downs; employee severance and other expenditures related to employee terminations; lease exit costs, such as lease termination fees, accelerated amortization of operating lease assets and impairment of operating lease assets; other costs related to facility exits, such as moving expenses to relocate inventory and equipment; and accelerated depreciation of fixed assets to be disposed of earlier than the end of the previously estimated useful lives. We expanded this program during the second and third quarters of 2020 as we identified additional opportunities to eliminate inefficiencies, including actions in response to impacts to our business from COVID-19. During the three months ended March 31, 2021, we recognized restructuring expenses of $2 million, representing $5 million of employee-related costs and facility exit costs, partially offset by a $3 million gain from the sale of a building to be closed as part of the restructuring plan. During the three months ended March 31, 2020, we recognized $2 million of expenses related to the program. Of the cumulative program costs incurred to date, $27 million, $23 million and $1 million related to our North America, Europe and Specialty segments, respectively. We estimate total costs under the program through its expected completion date in 2023 will be between $65 million and $75 million, of which approximately $36 million, $31 million, and $2 million will be incurred by our Europe, North America and Specialty segments, respectively; these segment amounts represent the midpoints of the expected ranges of costs to be incurred by each segment. As of March 31, 2021 and December 31, 2020, restructuring liabilities incurred related to this program totaled $16 million and $21 million, respectively, including $13 million and $17 million, respectively, related to leases we have exited or expect to exit prior to the end of the lease term (reported in Current portion of operating lease liabilities and Long-term operating lease liabilities, excluding current portion on our Unaudited Condensed Consolidated Balance Sheets), and $3 million and $4 million, respectively, for employee termination costs (reported in Accrued payroll-related liabilities on our Unaudited Condensed Consolidated Balance Sheets). Our lease-related restructuring liabilities are estimated based on remaining rent payments after our actual exit date for facilities closed through the first quarter of 2021 and after our planned exit date for facilities we expect to close in future periods; these liabilities do not reflect any estimated proceeds we may be able to achieve through subleasing the facilities. Acquisition Integration Plans During the three months ended March 31, 2021, we incurred immaterial restructuring expenses for our acquisition integration plans. Future expenses to complete our existing integration plans are expected to be immaterial. During the three months ended March 31, 2020, we incurred $2 million of restructuring expenses for our acquisition integration plans. These expenses were primarily related to the integration of our acquisition of Andrew Page Limited. 1 LKQ Europe Program In September 2019, we announced a multi-year program called "1 LKQ Europe" which is intended to create structural centralization and standardization of key functions to facilitate the operation of the Europe segment as a single business. Under the 1 LKQ Europe program, we will reorganize our non-customer-facing teams and support systems through various projects including the implementation of a common ERP platform, rationalization of our product portfolio, and creation of a Europe headquarters office and central back office. While certain projects were delayed in 2020 as a result of the COVID-19 pandemic, such as our procurement initiatives and the new headquarters in Switzerland, we also accelerated certain projects, such as the integration of previously acquired networks and sharing resources across LKQ Europe. We are targeting to complete the organizational design and implementation projects by the middle of 2021, with the remaining projects scheduled to be completed by 2024. During the three months ended March 31, 2021, we incurred $5 million of restructuring charges related to the 1 LKQ Europe program related to employee-related costs. We estimate that we will incur between $45 million and $55 million in total

Equity Incentive Plans

Equity Incentive Plans3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Equity Incentive PlansStock-Based Compensation In order to attract and retain employees, non-employee directors, consultants, and other persons associated with us, we grant equity-based awards under the LKQ Corporation 1998 Equity Incentive Plan (the “Equity Incentive Plan”). We have granted restricted stock units ("RSUs"), stock options, and restricted stock under the Equity Incentive Plan. We expect to issue new or treasury shares of common stock to cover past and future equity grants. RSUs The RSUs we have issued vest over periods of up to five years, subject to a continued service condition. Currently outstanding RSUs (other than PSUs, which are described below) contain either a time-based vesting condition or a combination of a performance-based vesting condition and a time-based vesting condition, in which case both conditions must be met before any RSUs vest. For all of the RSUs containing a performance-based vesting condition, the Company must report positive diluted earnings per share, subject to certain adjustments, during any fiscal year period within five years following the grant date. Each RSU converts into one share of LKQ common stock on the applicable vesting date. The grant date fair value of RSUs is based on the market price of LKQ stock on the grant date. Starting with our 2019 grants, participants who are eligible for retirement (defined as a voluntary separation of service from the Company after the participant has attained at least 60 years of age and completed at least five years of service) will continue to vest in their awards following retirement; if retirement occurs during the first year of the vesting period (for RSUs subject to a time-based vesting condition) or the first year of the performance period (for RSUs with a performance-based vesting condition), the participant vests in a prorated amount of the RSU grant based on the portion of the year employed. For our RSU grants prior to 2019, participants forfeit their unvested shares upon retirement. The fair value of RSUs that vested during the three months ended March 31, 2021 was $14 million; the fair value of RSUs vested is based on the market price of LKQ stock on the date vested. The following table summarizes activity related to our RSUs under the Equity Incentive Plan for the three months ended March 31, 2021: Number Weighted Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (1) Unvested as of January 1, 2021 1,479,672 $ 31.71 Granted (2) 690,011 $ 38.52 Vested (362,750) $ 32.86 Forfeited / Canceled (13,774) $ 33.92 Unvested as of March 31, 2021 1,793,159 $ 34.08 Expected to vest after March 31, 2021 1,604,984 $ 34.25 3.3 $ 67,939 (1) The aggregate intrinsic value of expected to vest RSUs represents the total pretax intrinsic value (the fair value of the Company's stock on the last day of each period multiplied by the number of units) that would have been received by the holders had all the expected to vest RSUs vested. This amount changes based on the market price of the Company’s common stock. (2) The weighted average grant date fair value of RSUs granted during the three months ended March 31, 2020 was $33.14. In 2021 and 2020, we granted performance-based three-year RSUs ("PSUs") to certain employees, including our executive officers, under our Equity Incentive Plan. As these awards are performance-based, the exact number of shares to be paid out may be up to twice the grant amount, depending on the Company's performance and the achievement of certain performance metrics (adjusted earnings per share, average organic parts and services revenue growth, and average return on invested capital) over the applicable three year performance periods. The following table summarizes activity related to our PSUs under the Equity Incentive Plan for the three months ended March 31, 2021: Number Weighted Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (1) Unvested as of January 1, 2021 291,601 $ 29.98 Granted (2) 121,810 $ 38.50 Forfeited / Canceled — $ — Unvested as of March 31, 2021 413,411 $ 32.49 Expected to vest after March 31, 2021 413,411 $ 32.49 1.7 $ 17,500 (1) The aggregate intrinsic value of expected to vest PSUs represents the total pretax intrinsic value (the fair value of the Company's stock on the last day of each period multiplied by the number of units at target) that would have been received by the holders had all the expected to vest PSUs vested. This amount changes based on the market price of the Company’s common stock and the achievement of the performance metrics relative to the established targets. (2) Represents the number of PSUs at target payout. The weighted average grant date fair value of PSUs granted during the three months ended March 31, 2020 was $32.21. Stock-Based Compensation Expense Pre-tax stock-based compensation expense for RSUs and PSUs totaled $8 million for both the three months ended March 31, 2021 and 2020. As of March 31, 2021, unrecognized compensation expense related to unvested RSUs and PSUs was $61 million. Stock-based compensation expense related to these awards will be different to the extent that forfeitures are realized and performance under the PSUs dif fers from target.

Earnings Per Share Earnings Per

Earnings Per Share Earnings Per Share (Notes)3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]Earnings Per Share The following chart sets forth the computation of earnings per share (in thousands, except per share amounts): Three Months Ended March 31, 2021 2020 Income from continuing operations $ 266,332 $ 146,894 Denominator for basic earnings per share—Weighted-average shares outstanding 303,043 306,238 Effect of dilutive securities: RSUs 628 515 PSUs 94 — Stock options — 4 Denominator for diluted earnings per share—Adjusted weighted-average shares outstanding 303,765 306,757 Basic earnings per share from continuing operations $ 0.88 $ 0.48 Diluted earnings per share from continuing operations (1) $ 0.88 $ 0.48 (1) Diluted earnings per share from continuing operations was computed using the treasury stock method for dilutive securities. The following table sets forth the number of employee stock-based compensation awards outstanding but not included in the computation of diluted earnings per share because their effect would have been antidilutive for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended March 31, 2021 2020 Antidilutive securities: RSUs 117 381

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)3 Months Ended
Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Comprehensive Income (Loss) Note [Text Block]Accumulated Other Comprehensive Income (Loss) The components of Accumulated Other Comprehensive Income (Loss) are as follows (in thousands): Three Months Ended March 31, 2021 Foreign Unrealized (Loss) Gain Unrealized (Loss) Gain Other Comprehensive Loss from Unconsolidated Subsidiaries Accumulated BALANCE, January 1, 2021 $ (57,126) $ (968) $ (32,967) $ (7,948) $ (99,009) Pretax (loss) income (24,572) 3,119 — — (21,453) Income tax effect — (736) — — (736) Reclassification of unrealized (gain) loss — (2,343) 437 — (1,906) Reclassification of deferred income taxes — 618 (124) — 494 Other comprehensive loss from unconsolidated subsidiaries — — — (3,512) (3,512) BALANCE, March 31, 2021 $ (81,698) $ (310) $ (32,654) $ (11,460) $ (126,122) Three Months Ended March 31, 2020 Foreign Unrealized Gain (Loss) Unrealized (Loss) Gain Other Comprehensive Loss from Unconsolidated Subsidiaries Accumulated BALANCE, January 1, 2020 $ (170,893) $ 5,358 $ (31,934) $ (3,416) $ (200,885) Pretax (loss) income (104,060) 4,182 — — (99,878) Income tax effect — (984) — — (984) Reclassification of unrealized (gain) loss — (13,707) 114 — (13,593) Reclassification of deferred income taxes — 3,188 6 — 3,194 Disposal of business 95 — — — 95 Other comprehensive loss from unconsolidated subsidiaries — — — (1,852) (1,852) BALANCE, March 31, 2020 $ (274,858) $ (1,963) $ (31,814) $ (5,268) $ (313,903) The amounts of unrealized gains and losses on our Cash Flow Hedges reclassified to our Unaudited Condensed Consolidated Statements of Income are as follows (in thousands): Three Months Ended March 31, Classification 2021 2020 Unrealized (losses) gains on interest rate swaps Interest expense, net of interest income $ (693) $ 3,296 Unrealized gains on cross currency swaps Interest expense, net of interest income 539 2,551 Unrealized gains on cross currency swaps (1) Other income, net 1,973 7,860 Unrealized gains on foreign currency forward contracts (1) Other income, net 524 — Total $ 2,343 $ 13,707 (1) The amounts reclassified to Other income, net in our Unaudited Condensed Consolidated Statements of Income offset the impact of the remeasurement of the underlying transactions. Net unrealized losses and gains related to our pension plans were reclassified to Other income, net in our Unaudited Condensed Consolidated Statements of Income during the three months ended March 31, 2021 and 2020. Our policy is to reclassify the income tax effect from Accumulated other comprehensive loss to the Provision for income taxes when the related gains and losses are released to the Unaudited Condensed Consolidated Statements of Income.
Accumulated Other Comprehensive Income (Loss)The components of Accumulated Other Comprehensive Income (Loss) are as follows (in thousands): Three Months Ended March 31, 2021 Foreign Unrealized (Loss) Gain Unrealized (Loss) Gain Other Comprehensive Loss from Unconsolidated Subsidiaries Accumulated BALANCE, January 1, 2021 $ (57,126) $ (968) $ (32,967) $ (7,948) $ (99,009) Pretax (loss) income (24,572) 3,119 — — (21,453) Income tax effect — (736) — — (736) Reclassification of unrealized (gain) loss — (2,343) 437 — (1,906) Reclassification of deferred income taxes — 618 (124) — 494 Other comprehensive loss from unconsolidated subsidiaries — — — (3,512) (3,512) BALANCE, March 31, 2021 $ (81,698) $ (310) $ (32,654) $ (11,460) $ (126,122) Three Months Ended March 31, 2020 Foreign Unrealized Gain (Loss) Unrealized (Loss) Gain Other Comprehensive Loss from Unconsolidated Subsidiaries Accumulated BALANCE, January 1, 2020 $ (170,893) $ 5,358 $ (31,934) $ (3,416) $ (200,885) Pretax (loss) income (104,060) 4,182 — — (99,878) Income tax effect — (984) — — (984) Reclassification of unrealized (gain) loss — (13,707) 114 — (13,593) Reclassification of deferred income taxes — 3,188 6 — 3,194 Disposal of business 95 — — — 95 Other comprehensive loss from unconsolidated subsidiaries — — — (1,852) (1,852) BALANCE, March 31, 2020 $ (274,858) $ (1,963) $ (31,814) $ (5,268) $ (313,903)

Long-Term Obligations

Long-Term Obligations3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]
Long-Term ObligationsLong-Term Obligations Long-term obligations consist of the following (in thousands): March 31, December 31, 2021 2020 Senior secured credit agreement: Term loans payable $ 319,375 $ 323,750 Revolving credit facilities 533,882 642,958 Euro Notes (2024) 586,500 610,800 Euro Notes (2026/28) 1,173,000 1,221,600 Receivables securitization facility — — Notes payable through October 2030 at weighted average interest rates of 3.4% and 3.3%, respectively 21,420 24,526 Finance lease obligations at weighted average interest rates of 3.5% and 3.5%, respectively 54,505 57,336 Other debt at weighted average interest rates of 1.1% and 1.2%, respectively 46,340 15,706 Total debt 2,735,022 2,896,676 Less: long-term debt issuance costs (15,379) (25,225) Less: current debt issuance costs (7,951) (313) Total debt, net of debt issuance costs 2,711,692 2,871,138 Less: current maturities, net of debt issuance costs (239,962) (58,497) Long term debt, net of debt issuance costs $ 2,471,730 $ 2,812,641 Senior Secured Credit Agreement On June 11, 2020, LKQ Corporation and certain other subsidiaries of LKQ (collectively, the "Borrowers") entered into Amendment No. 4 to the Fourth Amended and Restated Credit Agreement dated January 29, 2016 (the "Credit Agreement"), which modifies the maximum permitted net leverage ratio through the quarter ending September 30, 2021. Prior to the amendment, the maximum permitted net leverage ratio was 4.00:1.00. After the amendment, the maximum permitted net leverage ratio is (i) 5.00:1.00 for the quarter ended March 31, 2021, (ii) 4.50:1.00 for the quarter ending June 30, 2021, and (iii) 4.25:1.00 for the quarter ending September 30, 2021. Beginning with the quarter ending December 31, 2021, the maximum permitted net leverage ratio reverts to the terms in effect prior to the amendment. In the event that the net leverage ratio is greater than 4.00:1.00, the Company would be restricted from repurchasing its shares. We can at any time elect to cancel the modifications to the maximum permitted net leverage ratio and revert to the terms in effect prior to the amendment subject to compliance with the 4.00:1.00 ratio. Amendment No. 4 to the Credit Agreement also made certain other immaterial modifications. On December 14, 2020, we entered into Amendment No. 5 to the Credit Agreement; the amendment added as a borrower our subsidiary LKQ Europe GmbH, a Swiss limited liability company, and made certain other immaterial or clarifying modifications. The total availability under the revolving credit facility's multicurrency component is $3.15 billion. Amounts outstanding under the revolving credit facility are due and payable upon maturity of the Credit Agreement on January 29, 2024. Term loan borrowings, which totaled $319 million as of March 31, 2021, are due and payable in quarterly installments equal to approximately $4 million on the last day of each fiscal quarter, with the remaining balance due and payable on January 29, 2024. We are required to prepay the term loan by amounts equal to proceeds from the sale or disposition of certain assets if the proceeds are not reinvested within twelve months. We also have the option to prepay outstanding amounts under the Credit Agreement without penalty. The Credit Agreement contains customary representations and warranties and customary covenants that provide limitations and conditions on our ability to enter into certain transactions. The Credit Agreement also contains financial and affirmative covenants, including limitations on our net leverage ratio and a minimum interest coverage ratio. Borrowings under the Credit Agreement bear interest at variable rates, which depend on the currency and duration of the borrowing elected, plus an applicable margin. The applicable margin is subject to change in increments of 0.25% depending on our net leverage ratio. Interest payments are due on the last day of the selected interest period or quarterly in arrears depending on the type of borrowing. Including the effect of the interest rate swap agreements described in Note 10, "Derivative Instruments and Hedging Activities," the weighted average interest rates on borrowings outstanding under the Credit Agreement at March 31, 2021 and December 31, 2020 were 1.2% and 1.7%, respectively. We also pay a commitment fee based on the average daily unused amount of the revolving credit facilities. The commitment fee is subject to change in increments of 0.05% depending on our net leverage ratio. In addition, we pay a participation commission on outstanding letters of credit at an applicable rate based on our net leverage ratio, and a fronting fee of 0.125% to the issuing bank, which are due quarterly in arrears. Of the total borrowings outstanding under the Credit Agreement, there were $18 million classified as current maturities at both March 31, 2021 and December 31, 2020. As of March 31, 2021, there were letters of credit outstanding in the aggregate amount of $71 million. The amounts available under the revolving credit facilities are reduced by the amounts outstanding under letters of credit, and thus availability under the revolving credit facilities at March 31, 2021 was $2.5 billion. Related to the execution of Amendment No. 4 to the Fourth Amended and Restated Credit Agreement in June 2020, we incurred $4 million of fees, the majority of which were capitalized as an offset to Long-Term Obligations and are amortized over the term of the agreement. U.S. Notes (2023) On January 10, 2020, we redeemed the $600 million aggregate principal amount of 4.75% senior notes due 2023 (the "U.S Notes (2023)") at a redemption price equal to 101.583% of the principal amount of the U.S. Notes (2023) plus accrued and unpaid interest thereon to, but not including, January 10, 2020. The total redemption payment was $614 million, including an early-redemption premium of $9 million and accrued and unpaid interest of $4 million. In the first quarter of 2020, we recorded a loss on debt extinguishment of $13 million on the Unaudited Condensed Consolidated Statements of Income related to the redemption due to the early-redemption premium and the write-off of the unamortized debt issuance costs. Euro Notes (2024) On April 14, 2016, LKQ Italia Bondco S.p.A. ("LKQ Italia"), an indirect, wholly-owned subsidiary of LKQ Corporation, completed an offering of €500 million aggregate principal amount of senior notes due April 1, 2024 (the "Euro Notes (2024)") in a private placement conducted pursuant to Regulation S and Rule 144A under the Securities Act of 1933. The proceeds from the offering were used to repay a portion of the revolver borrowings under the Credit Agreement and to pay related fees and expenses. The Euro Notes (2024) are governed by the Indenture dated as of April 14, 2016 (the "Euro Notes (2024) Indenture") among LKQ Italia, LKQ Corporation and certain of our subsidiaries (the "Euro Notes (2024) Subsidiaries"), the trustee, and the paying agent, transfer agent, and registrar. The Euro Notes (2024) bear interest at a rate of 3.875% per year from the date of original issuance or from the most recent payment date on which interest has been paid or provided for. Interest on the Euro Notes (2024) is payable in arrears on April 1 and October 1 of each year. The Euro Notes (2024) are fully and unconditionally guaranteed by LKQ Corporation and the Euro Notes (2024) Subsidiaries (the "Euro Notes (2024) Guarantors"). The Euro Notes (2024) and the related guarantees are, respectively, LKQ Italia's and each Euro Notes (2024) Guarantor's senior unsecured obligations and are subordinated to all of LKQ Italia's and the Euro Notes (2024) Guarantors' existing and future secured debt to the extent of the assets securing that secured debt. In addition, the Euro Notes (2024) are effectively subordinated to all of the liabilities of our subsidiaries that are not guaranteeing the Euro Notes (2024) to the extent of the assets of those subsidiaries. The Euro Notes (2024) have been listed on the ExtraMOT, Professional Segment of the Borsa Italia S.p.A. securities exchange and the Global Exchange Market of Euronext Dublin. The Euro Notes (2024) are redeemable, in whole or in part, at any time at a redemption price of 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date plus a "make whole" premium. On or after January 1, 2024, we may redeem some or all of the Euro Notes (2024) at a redemption price of 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date. We may be required to make an offer to purchase the Euro Notes (2024) upon the sale of certain assets, subject to certain exceptions, and upon a change of control. In addition, in the event of certain developments affecting taxation or under certain other circumstances which, in any case, require the payment of certain additional amounts, we may redeem the Euro Notes (2024) in whole, but not in part, at any time at a redemption price of 100% of the principal amount thereof plus accrued but unpaid interest, if any, and such certain additional amounts, if any, to the redemption date. Euro Notes (2026/28) On April 9, 2018, LKQ European Holdings B.V. ("LKQ Euro Holdings"), a wholly-owned subsidiary of LKQ Corporation, completed an offering of €1.0 billion aggregate principal amount of senior notes. The offering consisted of €750 million senior notes due 2026 (the "2026 notes") and €250 million senior notes due 2028 (the "2028 notes" and, together with the 2026 notes, the "Euro Notes (2026/28)") in a private placement conducted pursuant to Regulation S and Rule 144A under the Securities Act of 1933. The proceeds from the offering, together with borrowings under our senior secured credit facility, were used to (i) finance a portion of the consideration paid for the Stahlgruber acquisition, (ii) for general corporate purposes and (iii) to pay related fees and expenses, including the refinancing of net financial debt. The Euro Notes (2026/28) are governed by the Indenture dated as of April 9, 2018 (the “Euro Notes (2026/28) Indenture”) among LKQ Euro Holdings, LKQ Corporation and certain of our subsidiaries (the “Euro Notes (2026/28) Subsidiaries”), the trustee, paying agent, transfer agent, and registrar. The 2026 notes and 2028 notes bear interest at rates of 3.625% and 4.125%, respectively, per year from the date of original issuance or from the most recent payment date on which interest has been paid or provided for. Interest on the Euro Notes (2026/28) is payable in arrears on April 1 and October 1 of each year. The Euro Notes (2026/28) are fully and unconditionally guaranteed by LKQ Corporation and the Euro Notes (2026/28) Subsidiaries (the "Euro Notes (2026/28) Guarantors"). The Euro Notes (2026/28) and the related guarantees are, respectively, LKQ Euro Holdings' and each Euro Notes (2026/28) Guarantor’s senior unsecured obligations and will be subordinated to all of LKQ Euro Holdings' and the Euro Notes (2026/28) Guarantors’ existing and future secured debt to the extent of the assets securing that secured debt. In addition, the Euro Notes (2026/28) are effectively subordinated to all of the liabilities of our subsidiaries that are not guaranteeing the Euro Notes (2026/28) to the extent of the assets of those subsidiaries. The Euro Notes (2026/28) have been listed on the Global Exchange Market of Euronext Dublin. The Euro Notes (2026/28) are redeemable, in whole or in part, at any time at a redemption price of 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date plus a "make whole" premium. On or after April 1, 2021, we may redeem some or all of the 2026 notes at the applicable redemption prices set forth in the Euro Notes (2026/28) Indenture. On or after April 1, 2023, we may redeem some or all of the 2028 notes at the applicable redemption prices set forth in the Euro Notes (2026/28) Indenture. We may be required to make an offer to purchase the Euro Notes (2026/28) upon the sale of certain assets, subject to certain exceptions, and upon a change of control. In addition, in the event of certain developments affecting taxation or under certain other circumstances which, in any case, require the payment of certain additional amounts, we may redeem the Euro Notes (2026/28) in whole, but not in part, at any time at a redemption price of 100% of the principal amount thereof, plus accrued but unpaid interest, if any, and such certain additional amounts, if any, to the redemption date. On April 1, 2021, we redeemed the Euro Notes 2026 at a redemption price equal to 101.813% of the principal amount of the 2026 notes plus accrued and unpaid interest thereon to, but not including, April 1, 2021. The total redemption payment was $915 million (€777 million), including an early-redemption premium of $16 million (€14 million) and accrued and unpaid interest of $16 million (€14 million). In the second quarter of 2021, we will record a loss on debt extinguishment of $24 million related to the redemption due to the early-redemption premium and the write-off of the unamortized debt issuance costs. Receivables Securitization Facility On December 20, 2018, we amended the terms of our receivables securitization facility with MUFG Bank, Ltd. ("MUFG") to: (i) extend the term of the facility to November 8, 2021; (ii) increase the maximum amount available to $110 million; and (iii) make other clarifying and updating changes. Under the facility, LKQ sells an ownership interest in certain receivables, related collections and security interests to MUFG for the benefit of conduit investors and/or financial institutions for cash proceeds. Upon payment of the receivables by customers, rather than remitting to MUFG the amounts collected, LKQ retains such collections as proceeds for the sale of new receivables generated by certain of the ongoing operations of the Company. The sale of the ownership interest in the receivables is accounted for as a secured borrowing on our Unaudited Condensed Consolidated Balance Sheets, under which the receivables included in the program collateralize the amounts invested by MUFG, the conduit investors and/or financial institutions (the "Purchasers"). The receivables are held by LKQ Receivables Finance Company, LLC ("LRFC"), a wholly owned bankruptcy-remote special purpose subsidiary of LKQ, and therefore, the receivables are available first to satisfy the creditors of LRFC, including the Purchasers. Net receivables totaling

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities (Notes)3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]Derivative Instruments and Hedging Activities We are exposed to market risks, including the effect of changes in interest rates, foreign currency exchange rates and commodity prices. Under our current policies, we use derivatives to manage our exposure to variable interest rates on our senior secured debt and changing foreign exchange rates for certain foreign currency denominated transactions. We do not hold or issue derivatives for trading purposes. Cash Flow Hedges We hold interest rate swap agreements to hedge a portion of the variable interest rate risk on our variable rate borrowings under our Credit Agreement, with the objective of minimizing the impact of interest rate fluctuations and stabilizing cash flows. Under the terms of the interest rate swap agreements, we pay the fixed interest rate and receive payment at a variable rate of interest based on LIBOR for the respective currency of each interest rate swap agreement’s notional amount. Changes in the fair value of the interest rate swap agreements are recorded in Accumulated other comprehensive income (loss) and are reclassified to Interest expense, net of interest income when the underlying interest payment has an impact on earnings. Our interest rate swap contracts have maturity dates in June 2021. At December 31, 2020, we held cross currency swaps, which contained an interest rate swap component and a foreign currency forward contract component that, combined with related intercompany financing arrangements, effectively convert variable rate U.S. dollar-denominated borrowings into fixed rate euro-denominated borrowings. The swaps were intended to minimize the impact of fluctuating exchange rates and interest rates on the cash flows resulting from the related intercompany financing arrangements. Changes in the fair value of the derivative instruments were recorded in Accumulated other comprehensive income (loss) and were reclassified to Interest expense, net of interest income and Other income, net when the underlying transactions had an impact on earnings. From time to time, we may hold foreign currency forward contracts related to certain foreign currency denominated intercompany transactions, with the objective of minimizing the impact of fluctuating exchange rates on these future cash flows. Under the terms of the foreign currency forward contracts, we will sell the foreign currency in exchange for U.S. dollars at a fixed rate on the maturity dates of the contracts. Changes in the fair value of the foreign currency forward contracts where we are applying hedge accounting are recorded in Accumulated other comprehensive income (loss) and reclassified to Other income, net when the underlying transaction has an impact on earnings. As of March 31, 2021 and December 31, 2020, we held cash flow hedges with the following notional amounts (in thousands): March 31, 2021 December 31, 2020 Interest rate swap agreements USD denominated $ 150,000 $ 480,000 Cross currency swap agreements Euro denominated € — € 340,000 Foreign currency forward contracts SEK denominated kr — kr 227,000 The following tables summarize the fair values of our designated cash flow hedges as of March 31, 2021 and December 31, 2020 (in thousands): Other Accrued Expenses Fair Value at March, 31 2021 Fair Value at December 31, 2020 Interest rate swap agreements $ 335 $ 899 Cross currency swap agreements — 56,328 Foreign currency forward contracts — 1,350 Total cash flow hedges $ 335 $ 58,577 While certain derivative instruments executed with the same counterparty are subject to master netting arrangements, we present our cash flow hedge derivative instruments on a gross basis on our Unaudited Condensed Consolidated Balance Sheets. The impact of netting the fair values of these contracts would have no effect on our Unaudited Condensed Consolidated Balance Sheets at March 31, 2021 and December 31, 2020. The activity related to our cash flow hedges is included in Note 8, "Accumulated Other Comprehensive Income (Loss)." The activity related to our cash flow hedges is presented in either operating activities or financing activities in our Unaudited Condensed Consolidated Statements of Cash Flows. Other Derivative Instruments Not Designated as Hedges To manage our foreign currency exposure on non-functional currency denominated borrowings, we have entered into short term foreign currency forward contracts. We expect to enter into similar instruments as each instrument matures and expect to continue to do so until the foreign currency denominated borrowings are repaid. As of March 31, 2021, we held foreign currency forward contracts with notional amounts of $315 million and €184 million. At December 31, 2020, the notional amounts of similar contracts were €142 million and £75 million. On April 1, 2021, in connection with the redemption of the Euro Notes 2026, we entered into an additional foreign currency forward contract with a notional amount of $720 million. We have elected not to apply hedge accounting for these transactions, and therefore the contracts are adjusted to fair value through our results of operations as of each balance sheet date, which could result in volatility in our earnings. The fair values of these other short-term derivative instruments are recorded in either Prepaid expenses and other current assets or Other accrued expenses on our Consolidated Balance Sheets. The fair values of these contracts at March 31, 2021 and December 31, 2020, along with the effect on our results of operations during the three months ended March 31, 2021 and 2020, were immaterial.

Fair Value Measurements (Notes)

Fair Value Measurements (Notes)3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value DisclosuresFair Value Measurements Financial Assets and Liabilities Measured at Fair Value We use the market and income approaches to estimate the fair value of our financial assets and liabilities, and during the three months ended March 31, 2021, there were no significant changes in valuation techniques or inputs related to the financial assets or liabilities that we have historically recorded at fair value. The tiers in the fair value hierarchy include: Level 1, defined as observable inputs such as quoted market prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as significant unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions. The following tables present information about our financial assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs we utilized to determine such fair value as of March 31, 2021 and December 31, 2020 (in thousands): Balance as of March 31, 2021 Fair Value Measurements as of March 31, 2021 Level 1 Level 2 Level 3 Assets: Cash surrender value of life insurance $ 79,435 $ — $ 79,435 $ — Foreign currency forward contracts 4,451 — 4,451 — Total Assets $ 83,886 $ — $ 83,886 $ — Liabilities: Contingent consideration liabilities $ 3,422 $ — $ — $ 3,422 Interest rate swaps 335 — 335 — Deferred compensation liabilities 81,231 — 81,231 — Foreign currency forward contracts 632 — 632 — Total Liabilities $ 85,620 $ — $ 82,198 $ 3,422 Balance as of December 31, 2020 Fair Value Measurements as of December 31, 2020 Level 1 Level 2 Level 3 Assets: Cash surrender value of life insurance $ 72,250 $ — $ 72,250 $ — Total Assets $ 72,250 $ — $ 72,250 $ — Liabilities: Contingent consideration liabilities $ 13,263 $ — $ — $ 13,263 Interest rate swaps 899 — 899 — Deferred compensation liabilities 76,240 — 76,240 — Cross currency swap agreements 56,328 — 56,328 — Foreign currency forward contracts 5,190 — 5,190 — Total Liabilities $ 151,920 $ — $ 138,657 $ 13,263 The cash surrender value of life insurance is included in Other noncurrent assets on our Unaudited Condensed Consolidated Balance Sheets. The current portion of contingent consideration liabilities is included in Other current liabilities on our Unaudited Condensed Consolidated Balance Sheets; the noncurrent portion of deferred compensation liabilities and contingent consideration liabilities is included in Other noncurrent liabilities on our Unaudited Condensed Consolidated Balance Sheets based on the expected timing of the related payments. The balance sheet classification of the interest rate swaps, cross currency swap agreements, and foreign currency forward contracts is presented in Note 10, "Derivative Instruments and Hedging Activities." Our Level 2 assets and liabilities are valued using inputs from third parties and market observable data. We obtain valuation data for the cash surrender value of life insurance and deferred compensation liabilities from third party sources, which determine the net asset values for our accounts using quoted market prices, investment allocations and reportable trades. We value our other derivative instruments using a third party valuation model that performs a discounted cash flow analysis based on the terms of the contracts and market observable inputs such as current and forward interest rates and current and forward foreign exchange rates. Our contingent consideration liabilities are related to our business acquisitions. Under the terms of the contingent consideration agreements, payments may be made at specified future dates depending on the performance of the acquired business subsequent to the acquisition. The liabilities for these payments are classified as Level 3 liabilities because the related fair value measurement, which is determined using an income approach, includes significant inputs not observable in the market. We also have equity investments recorded in Other noncurrent assets that are reported at fair value. We have used net asset value as a practical expedient to value these equity investments and thus they are excluded from the fair value hierarchy disclosure. Financial Assets and Liabilities Not Measured at Fair Value Our debt is reflected on the Unaudited Condensed Consolidated Balance Sheets at cost. Based on market conditions as of both March 31, 2021 and December 31, 2020, the fair value of our credit agreement borrowings reasonably approximated the carrying values of $853 million and $967 million, respectively. As of March 31, 2021 and December 31, 2020 there were no outstanding borrowings under the receivables facility. As of March 31, 2021 and December 31, 2020, the fair values of the Euro Notes (2024) were approximately $633 million and $662 million, respectively, compared to carrying values of $587 million and $611 million, respectively. As of March 31, 2021 and December 31, 2020, the fair values of the Euro Notes (2026/28) were $1.2 billion and $1.3 billion, respectively, compared to a carrying value of $1.2 billion as of both dates.

Employee Benefit Plans (Notes)

Employee Benefit Plans (Notes)3 Months Ended
Mar. 31, 2021
Employee Benefit Plans [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]Employee Benefit Plans We have funded and unfunded defined benefit plans covering certain employee groups in the U.S. and various European countries. Local statutory requirements govern many of our European plans. The defined benefit plans are mostly closed to new participants and, in some cases, existing participants no longer accrue benefits. As of March 31, 2021 and December 31, 2020, the aggregate funded status of the defined benefit plans was a liability of $146 million and $153 million , respectively, and is reported in Other noncurrent liabilities and Accrued payroll-related liabilities on our Unaudited Condensed Consolidated Balance Sheets. Net periodic benefit cost for our defined benefit plans included the following components for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended March 31, 2021 2020 Service cost $ 895 $ 670 Interest cost 342 718 Expected return on plan assets (423) (478) Amortization of actuarial loss 437 114 Net periodic benefit cost $ 1,251 $ 1,024

Income Taxes (Notes)

Income Taxes (Notes)3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]Income Taxes At the end of each interim period, we estimate our annual effective tax rate and apply that rate to our interim earnings. We also record the tax impact of certain unusual or infrequently occurring items, including changes in judgment about valuation allowances and the effects of changes in tax laws or rates, in the interim period in which they occur. The computation of the annual estimated effective tax rate at each interim period requires certain estimates and significant judgment including, but not limited to, the expected operating income for the year, projections of the proportion of income earned and taxed in state and foreign jurisdictions, permanent and temporary differences between book and taxable income, and the likelihood of recovering deferred tax assets generated in the current year. The accounting estimates used to compute the provision for income taxes may change as new events occur, additional information is obtained or as the tax environment changes. Our effective income tax rate for the three months ended March 31, 2021 was 26.3%, compared to 29.2% for the comparable prior year period. The lower estimated annual effective tax rate for 2021 is primarily attributable to the higher forecasted 2021 results of operations, as compared to the forecasts available during the comparable quarter in 2020, when COVID-19 pandemic economic disruptions were depressing forecasted 2020 results. Higher projected income contributes to lower anticipated valuation allowances on the tax benefit of net operating losses and suspended interest deductions in certain

Segment and Geographic Informat

Segment and Geographic Information3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]
Segment and Geographic InformationSegment and Geographic Information We have four operating segments: Wholesale – North America, Europe, Specialty and Self Service. Our Wholesale – North America and Self Service operating segments are aggregated into one reportable segment, North America, because they possess similar economic characteristics and have common products and services, customers, and methods of distribution. Our reportable segments are organized based on a combination of geographic areas served and type of product lines offered. The reportable segments are managed separately as each business serves different customers (i.e. geographic in the case of North America and Europe and product type in the case of Specialty) and is affected by different economic conditions. Therefore, we present three reportable segments: North America, Europe and Specialty. The following tables present our financial performance by reportable segment for the periods indicated (in thousands): North America Europe Specialty Eliminations Consolidated Three Months Ended March 31, 2021 Revenue: Third Party $ 1,249,374 $ 1,463,453 $ 457,959 $ — $ 3,170,786 Intersegment 319 — 980 (1,299) — Total segment revenue $ 1,249,693 $ 1,463,453 $ 458,939 $ (1,299) $ 3,170,786 Segment EBITDA $ 249,167 $ 140,958 $ 61,482 $ — $ 451,607 Depreciation and amortization (1) 24,260 40,258 7,079 — 71,597 Three Months Ended March 31, 2020 Revenue: Third Party $ 1,289,935 $ 1,363,594 $ 347,406 $ — $ 3,000,935 Intersegment 260 — 1,176 (1,436) — Total segment revenue $ 1,290,195 $ 1,363,594 $ 348,582 $ (1,436) $ 3,000,935 Segment EBITDA $ 211,438 $ 78,262 $ 32,232 $ — $ 321,932 Depreciation and amortization (1) 23,148 41,095 7,136 — 71,379 (1) Amounts presented include depreciation and amortization expense recorded within Cost of goods sold and Restructuring and acquisition related expenses. The key measure of segment profit or loss reviewed by our chief operating decision maker, our Chief Executive Officer, is Segment EBITDA. We use Segment EBITDA to compare profitability among our segments and evaluate business strategies. Segment EBITDA includes revenue and expenses that are controllable by the segment. Corporate general and administrative expenses are allocated to the segments based on usage, with shared expenses apportioned based on the segment's percentage of consolidated revenue. We calculate Segment EBITDA as EBITDA excluding restructuring and acquisition related expenses (which includes restructuring expenses recorded in Cost of goods sold); change in fair value of contingent consideration liabilities; other gains and losses related to acquisitions, equity method investments, or divestitures; equity in losses and earnings of unconsolidated subsidiaries; equity investment mark to market adjustments; and impairment charges. EBITDA, which is the basis for Segment EBITDA, is calculated as net income attributable to LKQ stockholders excluding discontinued operations and discontinued noncontrolling interest, depreciation, amortization, interest (which includes gains and losses on debt extinguishment) and income tax expense. The table below provides a reconciliation of Net Income to Segment EBITDA (in thousands): Three Months Ended March 31, 2021 2020 Net income $ 266,332 $ 145,979 Less: net income attributable to continuing noncontrolling interest 419 740 Less: net income attributable to discontinued noncontrolling interest — 103 Net income attributable to LKQ stockholders 265,913 145,136 Subtract: Net loss from discontinued operations — (915) Net income attributable to discontinued noncontrolling interest — (103) Net income from continuing operations attributable to LKQ stockholders 265,913 146,154 Add: Depreciation and amortization 65,801 65,495 Depreciation and amortization - cost of goods sold 5,615 5,085 Depreciation and amortization - restructuring expenses (1) 181 799 Interest expense, net of interest income 24,179 25,931 Loss on debt extinguishment — 12,751 Provision for income taxes 92,969 60,411 EBITDA 454,658 316,626 Subtract: Equity in earnings of unconsolidated subsidiaries (2) 5,819 516 Equity investment mark to market adjustments 4,739 — Add: Restructuring and acquisition related expenses (1) 7,704 6,171 Restructuring expenses - cost of goods sold (163) (4) Impairment of net assets held for sale and (gain on disposal of business) 15 (249) Change in fair value of contingent consideration liabilities (49) (96) Segment EBITDA $ 451,607 $ 321,932 (1) The sum of these two captions represents the total amount that is reported in Restructuring and acquisition related expenses in our Unaudited Condensed Consolidated Statements of Income. Refer to Note 5, "Restructuring and Acquisition Related Expenses," for further information. (2) Refer to "Investments in Unconsolidated Subsidiaries" in Note 3, "Financial Statement Information," for further information. The following table presents capital expenditures by reportable segment (in thousands): Three Months Ended March 31, 2021 2020 Capital Expenditures North America $ 13,335 $ 29,321 Europe 26,298 13,048 Specialty 2,146 2,169 Total capital expenditures $ 41,779 $ 44,538 The following table presents assets by reportable segment (in thousands): March 31, December 31, 2021 2020 Receivables, net North America $ 401,737 $ 386,289 Europe 680,067 598,615 Specialty 170,570 88,485 Total receivables, net 1,252,374 1,073,389 Inventories North America 776,512 810,798 Europe 1,278,147 1,302,649 Specialty 338,055 301,165 Total inventories 2,392,714 2,414,612 Property, plant and equipment, net North America 569,428 583,985 Europe 556,489 583,439 Specialty 78,726 81,279 Total property, plant and equipment, net 1,204,643 1,248,703 Operating lease assets, net North America 777,546 755,430 Europe 520,857 520,131 Specialty 74,835 77,563 Total operating lease assets, net 1,373,238 1,353,124 Equity method investments North America 21,098 18,676 Europe 149,631 136,548 Total equity method investments 170,729 155,224 Other unallocated assets 6,271,759 6,115,481 Total assets $ 12,665,457 $ 12,360,533 We report net receivables; inventories; net property , plant and equipment; net operating lease assets; and equity method investments by segment as that information is used by the chief operating decision maker in assessing segment performance. These assets provide a measure for the operating capital employed in each segment. Unallocated assets include cash and cash equivalents, prepaid and other current and noncurrent assets, goodwill and other intangibles. Our largest countries of operation are the U.S., followed by the U.K. and Germany. Additional European operations are located in the Netherlands, Italy, Czech Republic, Belgium, Austria, Slovakia, Poland, and other European countries. Our operations in other countries include wholesale operations in Canada, remanufacturing operations in Mexico, an aftermarket parts freight consolidation warehouse in Taiwan, and administrative support functions in India. Our net sales are attributed to geographic area based on the location of the selling operation. The following table sets forth our revenue by geographic area (in thousands): Three Months Ended March 31, 2021 2020 Revenue United States $ 1,605,433 $ 1,533,945 United Kingdom 403,438 390,619 Germany 387,876 374,552 Other countries 774,039 701,819 Total revenue $ 3,170,786 $ 3,000,935 The following table sets forth our tangible long-lived assets by geographic area (in thousands): March 31, December 31, 2021 2020 Long-lived assets United States $ 1,423,988 $ 1,419,113 Germany 344,602 360,184 United Kingdom 310,013 315,333 Other countries 499,278 507,197 Total long-lived assets $ 2,577,881 $ 2,601,827

Financial Statement Informati_2

Financial Statement Information Receivables (Policies)3 Months Ended
Mar. 31, 2021
Receivables [Abstract]
Government AssistanceGovernment Assistance During the three months ended March 31, 2021, we recorded $9 million in financial assistance from foreign governments, primarily in the form of grants, of which $7 million and $2 million related to Europe and Canada, respectively. For the three months ended March 31, 2021, an immaterial amount was recorded as a reduction to Cost of goods sold, and $9 million was a reduction to Selling, general and administrative expenses, in our Unaudited Condensed Consolidated Statement of Income. Financial assistance received from governments is recorded during the period in which we incur the costs that the assistance is intended to offset (and only if it is probable that we will meet the conditions required under the terms of the assistance). No government assistance was recorded for the three months ended March 31, 2020.
Equity Method Investments [Policy Text Block]Investments in Unconsolidated Subsidiaries Our investment in unconsolidated subsidiaries was $171 million and $155 million as of March 31, 2021 and December 31, 2020, respectively. Europe Segment Our investment in unconsolidated subsidiaries in Europe was $150 million and $137 million as of March 31, 2021 and December 31, 2020, respectively. We recorded equity in earnings of $6 million and $1 million during the three months ended March 31, 2021 and 2020, respectively, mainly related to our investment in Mekonomen AB ("Mekonomen"). On December 1, 2016, we acquired a 26.5% equity interest in Mekonomen for an aggregate purchase price of $181 million. In October 2018, we acquired an additional $48 million of equity in Mekonomen at a discounted share price as part of its rights issue, increasing our equity interest to 26.6%. We are accounting for our interest in Mekonomen using the equity method of accounting, as our investment gives us the ability to exercise significant influence, but not control, over the investee. As of March 31, 2021, our share of the book value of Mekonomen's net assets exceeded the book value of our investment in Mekonomen by $7 million; this difference is primarily related to Mekonomen's Accumulated Other Comprehensive Income balance as of our acquisition date in 2016. We are recording our equity in the net earnings of Mekonomen on a one quarter lag. Mekonomen announced in March 2020 and February 2021, respectively, that the Mekonomen Board of Directors proposed no dividend payment in 2020 or 2021. The Level 1 fair value of our equity investment in the publicly traded Mekonomen common stock at March 31, 2021 was $230 million (using the Mekonomen share price of SEK 129 as of March 31, 2021) compared to a carrying value of $139 million. North America Segment
ReceivableAllowance for Credit LossesReceivables, net are reported net of an allowance for credit losses. Management evaluates the aging of customer receivable balances, the financial condition of our customers, historical trends, and macroeconomic factors to estimate the amount of customer receivables that may not be collected in the future and records a provision it believes is appropriate. Our reserve for expected lifetime credit losses was $68 million and $70 million as of March 31, 2021 and December 31, 2020, respectively. Bad debt expense totaled $2 million and $9 million for the three months ended March 31, 2021 and 2020, respectively.

Financial Statement Informati_3

Financial Statement Information Inventories (Policies)3 Months Ended
Mar. 31, 2021
Inventory [Abstract]
Inventory, Policy [Policy Text Block]Inventories Inventories consist of the following (in thousands): March 31, December 31, 2021 2020 Aftermarket and refurbished products $ 2,020,707 $ 2,025,002 Salvage and remanufactured products 349,539 368,815 Manufactured products 22,468 20,795 Total inventories $ 2,392,714 $ 2,414,612 Aftermarket and refurbished products and salvage and remanufactured products are primarily composed of finished goods. As of March 31, 2021, manufactured products inventory was composed of $17 million of raw materials, $4 million of work in process, and $2 million of finished goods. As of December 31, 2020, manufactured products inventory was composed of $16 million of raw materials, $3 million of work in process, and $2 million of finished goods.

Financial Statement Informati_4

Financial Statement Information Investments in Unconsolidated Subsidiaries (Policies)3 Months Ended
Mar. 31, 2021
Investments in Unconsolidated Subsidiaries [Abstract]
Equity Method Investments [Policy Text Block]Investments in Unconsolidated Subsidiaries Our investment in unconsolidated subsidiaries was $171 million and $155 million as of March 31, 2021 and December 31, 2020, respectively. Europe Segment Our investment in unconsolidated subsidiaries in Europe was $150 million and $137 million as of March 31, 2021 and December 31, 2020, respectively. We recorded equity in earnings of $6 million and $1 million during the three months ended March 31, 2021 and 2020, respectively, mainly related to our investment in Mekonomen AB ("Mekonomen"). On December 1, 2016, we acquired a 26.5% equity interest in Mekonomen for an aggregate purchase price of $181 million. In October 2018, we acquired an additional $48 million of equity in Mekonomen at a discounted share price as part of its rights issue, increasing our equity interest to 26.6%. We are accounting for our interest in Mekonomen using the equity method of accounting, as our investment gives us the ability to exercise significant influence, but not control, over the investee. As of March 31, 2021, our share of the book value of Mekonomen's net assets exceeded the book value of our investment in Mekonomen by $7 million; this difference is primarily related to Mekonomen's Accumulated Other Comprehensive Income balance as of our acquisition date in 2016. We are recording our equity in the net earnings of Mekonomen on a one quarter lag. Mekonomen announced in March 2020 and February 2021, respectively, that the Mekonomen Board of Directors proposed no dividend payment in 2020 or 2021. The Level 1 fair value of our equity investment in the publicly traded Mekonomen common stock at March 31, 2021 was $230 million (using the Mekonomen share price of SEK 129 as of March 31, 2021) compared to a carrying value of $139 million. North America Segment

Financial Statement Informati_5

Financial Statement Information Warranty Reserve (Policies)3 Months Ended
Mar. 31, 2021
Warranty Reserve [Abstract]
Standard Product Warranty And Extended Product Warranty Policy Policy [Policy Text Block]Warranty Reserve Some of our salvage mechanical products are sold with a standard six month warranty against defects. Additionally, some of our remanufactured engines are sold with a standard three or four year warranty against defects. We also provide a limited lifetime warranty for certain of our aftermarket products. These assurance-type warranties are not considered a separate performance obligation, and thus no transaction price is allocated to them. We record the warranty costs in Cost of goods sold in our Unaudited Condensed Consolidated Statements of Income. Our warranty reserve is calculated using historical claim information to project future warranty claims activity and is recorded within Other accrued expenses and Other noncurrent liabilities on our Unaudited Condensed Consolidated Balance Sheets based on the expected timing of the related payments. The changes in the warranty reserve are as follows (in thousands): Balance as of December 31, 2020 $ 27,914 Warranty expense 18,470 Warranty claims (17,917) Balance as of March 31, 2021 $ 28,467

Financial Statement Informati_6

Financial Statement Information Litigation and Related Contingencies (Policies)3 Months Ended
Mar. 31, 2021
Litigation and Related Contingencies [Abstract]
Commitments and Contingencies, Policy [Policy Text Block]Litigation and Related Contingencies We have certain contingencies resulting from litigation, claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business. We currently expect that the resolution of such contingencies will not materially affect our financial position, results of operations or cash flows.

Financial Statement Informati_7

Financial Statement Information Treasury Stock (Policies)3 Months Ended
Mar. 31, 2021
Treasury Stock [Abstract]
Stockholders' Equity, Policy [Policy Text Block]Stockholders' Equity Treasury Stock As of March 31, 2021, our Board of Directors had authorized a stock repurchase program under which we may purchase up to $1.0 billion of our common stock from time to time through October 25, 2022. Repurchases under the program may be made in the open market or in privately negotiated transactions, with the amount and timing of repurchases depending on market conditions and corporate needs. The repurchase program does not obligate us to acquire any specific number of shares and may be suspended or discontinued at any time. During the three months ended March 31, 2021, we repurchased 1.5 million shares of common stock for an aggregate price of $57 million. During the three months ended March 31, 2020, we repurchased 3.3 million shares of common stock for an aggregate price of $88 million. As of March 31, 2021, there was $474 million of remaining capacity under our repurchase program. Repurchased shares are accounted for as treasury stock using the cost method. Noncontrolling Interest In February 2020, as part of the sale of Stahlgruber's Czech Republic business, we divested the noncontrolling interest of the business, which resulted in a net decrease to Noncontrolling interest of $11 million in our unaudited condensed consolidated financial statements as of March 31, 2020. See Note 2, "Discontinued Operations," for further information.

Financial Statement Informati_8

Financial Statement Information Recent Accounting Pronouncements (Policies)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Recent Accounting Pronouncements Policy [Policy Text Block]Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In the first quarter of 2021, we adopted ASU No. 2019-12, "Income Taxes" (Topic 740) ("ASU 2019-12"), which simplifies the accounting for income taxes and adds guidance to reduce complexity in certain areas. We adopted the standard in the first quarter using the prospective approach. The adoption of this accounting standard did not have a material impact on our unaudited condensed consolidated financial statements. Recently Issued Accounting Pronouncements In March 2020, the FASB issued ASU No. 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting" ("ASU 2020-04"), which provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. ASU 2020-04 provides optional expedients and exceptions for applying generally accepted accounting principles to transactions affected by reference rate reform if certain criteria are met. These transactions include contract modifications, hedging relationships, and sale or transfer of debt securities classified as held-to-maturity. Entities may apply the provisions of the new standard as of the beginning of the reporting period when the election is made (i.e., as early as the first quarter of 2020). Unlike other topics, the provisions of this update are only available until December 31, 2022. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures, and we have not yet elected an adoption date.

Revenue Recognition Revenue R_2

Revenue Recognition Revenue Recognition (Policies)3 Months Ended
Mar. 31, 2021
Revenue Recognition [Abstract]
Revenue [Policy Text Block]Revenue Recognition The majority of our revenue is derived from the sale of vehicle parts. We recognize revenue when the products are shipped to, delivered to or picked up by customers, which is the point when title has transferred and risk of ownership has passed. Sources of Revenue We report our revenue in two categories: (i) parts and services and (ii) other. The following table sets forth our revenue by category, with our parts and services revenue further disaggregated by reportable segment (in thousands): Three Months Ended March 31, 2021 2020 North America $ 1,018,437 $ 1,107,342 Europe 1,455,370 1,357,969 Specialty 457,959 347,406 Parts and services 2,931,766 2,812,717 Other 239,020 188,218 Total revenue $ 3,170,786 $ 3,000,935 Parts and Services Our parts revenue is generated from the sale of vehicle products including replacement parts, components and systems used in the repair and maintenance of vehicles and specialty products and accessories to improve the performance, functionality and appearance of vehicles. Services revenue includes (i) additional services that are generally billed concurrently with the related product sales, such as the sale of service-type warranties, (ii) fees for admission to our self service yards, and (iii) diagnostic and repair services. In North America, our vehicle replacement products include sheet metal collision parts such as doors, hoods, and fenders; bumper covers; head and tail lamps; automotive glass products such as windshields; mirrors and grilles; wheels; and large mechanical items such as engines and transmissions. In Europe, our products include a wide variety of small mechanical products such as brake pads, discs and sensors; clutches; electrical products such as spark plugs and batteries; steering and suspension products; filters; and oil and automotive fluids. In our Specialty operations, we serve six product segments: truck and off-road; speed and performance; recreational vehicles; towing; wheels, tires and performance handling; and miscellaneous accessories. Our service-type warranties typically have service periods ranging from 6 months to 36 months. Proceeds from these service-type warranties are deferred at contract inception and amortized on a straight-line basis to revenue over the contract period. The changes in deferred service-type warranty revenue are as follows (in thousands): Balance as of January 1, 2021 $ 25,622 Additional warranty revenue deferred 13,511 Warranty revenue recognized (11,834) Balance as of March 31, 2021 $ 27,299 Other Revenue Revenue from other sources includes sales of scrap and precious metals (platinum, palladium, and rhodium), bulk sales to mechanical manufacturers (including cores) and sales of aluminum ingots and sows from our furnace operations. We derive scrap metal and other precious metals from several sources, including vehicles that have been used in both our wholesale and self service recycling operations and from original equipment manufacturers ("OEMs") and other entities that contract with us for secure disposal of "crush only" vehicles. Revenue from the sale of hulks in our wholesale and self service recycling operations is recognized based on a price per ton of delivered material when the customer (processor) collects the scrap. Some adjustments may occur when the customer weighs the scrap at their location, and revenue is adjusted accordingly. Revenue by Geographic Area See Note 14, "Segment and Geographic Information" for information related to our revenue by geographic region. Variable Consideration The amount of revenue ultimately received from the customer can vary due to variable consideration including returns, discounts, rebates, refunds, credits, price concessions, incentives, performance bonuses, or other similar items. Under FASB Accounting Standards Codification Topic 606 ("ASC 606"),

Financial Statement Informati_9

Financial Statement Information (Tables)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of Inventory, Current [Table Text Block]Inventories consist of the following (in thousands): March 31, December 31, 2021 2020 Aftermarket and refurbished products $ 2,020,707 $ 2,025,002 Salvage and remanufactured products 349,539 368,815 Manufactured products 22,468 20,795 Total inventories $ 2,392,714 $ 2,414,612
Schedule of Product Warranty Liability [Table Text Block]The changes in the warranty reserve are as follows (in thousands): Balance as of December 31, 2020 $ 27,914 Warranty expense 18,470 Warranty claims (17,917) Balance as of March 31, 2021 $ 28,467

Revenue Recognition Disaggregat

Revenue Recognition Disaggregation of Revenue (Tables)3 Months Ended
Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue [Table Text Block]The following table sets forth our revenue by category, with our parts and services revenue further disaggregated by reportable segment (in thousands): Three Months Ended March 31, 2021 2020 North America $ 1,018,437 $ 1,107,342 Europe 1,455,370 1,357,969 Specialty 457,959 347,406 Parts and services 2,931,766 2,812,717 Other 239,020 188,218 Total revenue $ 3,170,786 $ 3,000,935

Revenue Recognition Product War

Revenue Recognition Product Warranty Liability (Tables)3 Months Ended
Mar. 31, 2021
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability [Table Text Block]The changes in deferred service-type warranty revenue are as follows (in thousands): Balance as of January 1, 2021 $ 25,622 Additional warranty revenue deferred 13,511 Warranty revenue recognized (11,834) Balance as of March 31, 2021 $ 27,299

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Nonvested Restricted Stock Units ActivityThe following table summarizes activity related to our RSUs under the Equity Incentive Plan for the three months ended March 31, 2021: Number Weighted Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (1) Unvested as of January 1, 2021 1,479,672 $ 31.71 Granted (2) 690,011 $ 38.52 Vested (362,750) $ 32.86 Forfeited / Canceled (13,774) $ 33.92 Unvested as of March 31, 2021 1,793,159 $ 34.08 Expected to vest after March 31, 2021 1,604,984 $ 34.25 3.3 $ 67,939
Schedule of Nonvested Performance-based Units ActivityThe following table summarizes activity related to our PSUs under the Equity Incentive Plan for the three months ended March 31, 2021: Number Weighted Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (1) Unvested as of January 1, 2021 291,601 $ 29.98 Granted (2) 121,810 $ 38.50 Forfeited / Canceled — $ — Unvested as of March 31, 2021 413,411 $ 32.49 Expected to vest after March 31, 2021 413,411 $ 32.49 1.7 $ 17,500

Earnings Per Share Schedule of

Earnings Per Share Schedule of Earnings Per Share, Basic and Diluted (Tables)3 Months Ended
Mar. 31, 2021
Schedule of Earnings Per Share, Basic and Diluted [Line Items]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]The following chart sets forth the computation of earnings per share (in thousands, except per share amounts): Three Months Ended March 31, 2021 2020 Income from continuing operations $ 266,332 $ 146,894 Denominator for basic earnings per share—Weighted-average shares outstanding 303,043 306,238 Effect of dilutive securities: RSUs 628 515 PSUs 94 — Stock options — 4 Denominator for diluted earnings per share—Adjusted weighted-average shares outstanding 303,765 306,757 Basic earnings per share from continuing operations $ 0.88 $ 0.48 Diluted earnings per share from continuing operations (1) $ 0.88 $ 0.48

Earnings Per Share Schedule o_2

Earnings Per Share Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Tables)3 Months Ended
Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]The following table sets forth the number of employee stock-based compensation awards outstanding but not included in the computation of diluted earnings per share because their effect would have been antidilutive for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended March 31, 2021 2020 Antidilutive securities: RSUs 117 381

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Tables)3 Months Ended
Mar. 31, 2021
Cash Flow Hedges Reclassified to Interest Expense [Line Items]
Cash Flow Hedges Reclassified to Interest Expense [Table Text Block]The amounts of unrealized gains and losses on our Cash Flow Hedges reclassified to our Unaudited Condensed Consolidated Statements of Income are as follows (in thousands): Three Months Ended March 31, Classification 2021 2020 Unrealized (losses) gains on interest rate swaps Interest expense, net of interest income $ (693) $ 3,296 Unrealized gains on cross currency swaps Interest expense, net of interest income 539 2,551 Unrealized gains on cross currency swaps (1) Other income, net 1,973 7,860 Unrealized gains on foreign currency forward contracts (1) Other income, net 524 — Total $ 2,343 $ 13,707 (1) The amounts reclassified to Other income, net in our Unaudited Condensed Consolidated Statements of Income offset the impact of the remeasurement of the underlying transactions.
Accumulated Other Comprehensive Income (Loss)The components of Accumulated Other Comprehensive Income (Loss) are as follows (in thousands): Three Months Ended March 31, 2021 Foreign Unrealized (Loss) Gain Unrealized (Loss) Gain Other Comprehensive Loss from Unconsolidated Subsidiaries Accumulated BALANCE, January 1, 2021 $ (57,126) $ (968) $ (32,967) $ (7,948) $ (99,009) Pretax (loss) income (24,572) 3,119 — — (21,453) Income tax effect — (736) — — (736) Reclassification of unrealized (gain) loss — (2,343) 437 — (1,906) Reclassification of deferred income taxes — 618 (124) — 494 Other comprehensive loss from unconsolidated subsidiaries — — — (3,512) (3,512) BALANCE, March 31, 2021 $ (81,698) $ (310) $ (32,654) $ (11,460) $ (126,122) Three Months Ended March 31, 2020 Foreign Unrealized Gain (Loss) Unrealized (Loss) Gain Other Comprehensive Loss from Unconsolidated Subsidiaries Accumulated BALANCE, January 1, 2020 $ (170,893) $ 5,358 $ (31,934) $ (3,416) $ (200,885) Pretax (loss) income (104,060) 4,182 — — (99,878) Income tax effect — (984) — — (984) Reclassification of unrealized (gain) loss — (13,707) 114 — (13,593) Reclassification of deferred income taxes — 3,188 6 — 3,194 Disposal of business 95 — — — 95 Other comprehensive loss from unconsolidated subsidiaries — — — (1,852) (1,852) BALANCE, March 31, 2020 $ (274,858) $ (1,963) $ (31,814) $ (5,268) $ (313,903)

Long-Term Obligations (Tables)

Long-Term Obligations (Tables)3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule Of Long-Term ObligationsLong-term obligations consist of the following (in thousands): March 31, December 31, 2021 2020 Senior secured credit agreement: Term loans payable $ 319,375 $ 323,750 Revolving credit facilities 533,882 642,958 Euro Notes (2024) 586,500 610,800 Euro Notes (2026/28) 1,173,000 1,221,600 Receivables securitization facility — — Notes payable through October 2030 at weighted average interest rates of 3.4% and 3.3%, respectively 21,420 24,526 Finance lease obligations at weighted average interest rates of 3.5% and 3.5%, respectively 54,505 57,336 Other debt at weighted average interest rates of 1.1% and 1.2%, respectively 46,340 15,706 Total debt 2,735,022 2,896,676 Less: long-term debt issuance costs (15,379) (25,225) Less: current debt issuance costs (7,951) (313) Total debt, net of debt issuance costs 2,711,692 2,871,138 Less: current maturities, net of debt issuance costs (239,962) (58,497) Long term debt, net of debt issuance costs $ 2,471,730 $ 2,812,641

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Schedule of Notional Amounts of Outstanding Derivative PositionsAs of March 31, 2021 and December 31, 2020, we held cash flow hedges with the following notional amounts (in thousands): March 31, 2021 December 31, 2020 Interest rate swap agreements USD denominated $ 150,000 $ 480,000 Cross currency swap agreements Euro denominated € — € 340,000 Foreign currency forward contracts SEK denominated kr — kr 227,000
Fair Value Option, DisclosuresThe following tables summarize the fair values of our designated cash flow hedges as of March 31, 2021 and December 31, 2020 (in thousands): Other Accrued Expenses Fair Value at March, 31 2021 Fair Value at December 31, 2020 Interest rate swap agreements $ 335 $ 899 Cross currency swap agreements — 56,328 Foreign currency forward contracts — 1,350 Total cash flow hedges $ 335 $ 58,577

Fair Value Measurements (Tables

Fair Value Measurements (Tables)3 Months Ended
Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]The following tables present information about our financial assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs we utilized to determine such fair value as of March 31, 2021 and December 31, 2020 (in thousands): Balance as of March 31, 2021 Fair Value Measurements as of March 31, 2021 Level 1 Level 2 Level 3 Assets: Cash surrender value of life insurance $ 79,435 $ — $ 79,435 $ — Foreign currency forward contracts 4,451 — 4,451 — Total Assets $ 83,886 $ — $ 83,886 $ — Liabilities: Contingent consideration liabilities $ 3,422 $ — $ — $ 3,422 Interest rate swaps 335 — 335 — Deferred compensation liabilities 81,231 — 81,231 — Foreign currency forward contracts 632 — 632 — Total Liabilities $ 85,620 $ — $ 82,198 $ 3,422 Balance as of December 31, 2020 Fair Value Measurements as of December 31, 2020 Level 1 Level 2 Level 3 Assets: Cash surrender value of life insurance $ 72,250 $ — $ 72,250 $ — Total Assets $ 72,250 $ — $ 72,250 $ — Liabilities: Contingent consideration liabilities $ 13,263 $ — $ — $ 13,263 Interest rate swaps 899 — 899 — Deferred compensation liabilities 76,240 — 76,240 — Cross currency swap agreements 56,328 — 56,328 — Foreign currency forward contracts 5,190 — 5,190 — Total Liabilities $ 151,920 $ — $ 138,657 $ 13,263

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)3 Months Ended
Mar. 31, 2021
Employee Benefit Plans [Abstract]
Schedule of Net Benefit Costs [Table Text Block]Net periodic benefit cost for our defined benefit plans included the following components for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended March 31, 2021 2020 Service cost $ 895 $ 670 Interest cost 342 718 Expected return on plan assets (423) (478) Amortization of actuarial loss 437 114 Net periodic benefit cost $ 1,251 $ 1,024

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]
Schedule Of Financial Performance By Reportable SegmentThe following tables present our financial performance by reportable segment for the periods indicated (in thousands): North America Europe Specialty Eliminations Consolidated Three Months Ended March 31, 2021 Revenue: Third Party $ 1,249,374 $ 1,463,453 $ 457,959 $ — $ 3,170,786 Intersegment 319 — 980 (1,299) — Total segment revenue $ 1,249,693 $ 1,463,453 $ 458,939 $ (1,299) $ 3,170,786 Segment EBITDA $ 249,167 $ 140,958 $ 61,482 $ — $ 451,607 Depreciation and amortization (1) 24,260 40,258 7,079 — 71,597 Three Months Ended March 31, 2020 Revenue: Third Party $ 1,289,935 $ 1,363,594 $ 347,406 $ — $ 3,000,935 Intersegment 260 — 1,176 (1,436) — Total segment revenue $ 1,290,195 $ 1,363,594 $ 348,582 $ (1,436) $ 3,000,935 Segment EBITDA $ 211,438 $ 78,262 $ 32,232 $ — $ 321,932 Depreciation and amortization (1) 23,148 41,095 7,136 — 71,379
Reconciliation Of Segment EBITDA To Net Income TableThe table below provides a reconciliation of Net Income to Segment EBITDA (in thousands): Three Months Ended March 31, 2021 2020 Net income $ 266,332 $ 145,979 Less: net income attributable to continuing noncontrolling interest 419 740 Less: net income attributable to discontinued noncontrolling interest — 103 Net income attributable to LKQ stockholders 265,913 145,136 Subtract: Net loss from discontinued operations — (915) Net income attributable to discontinued noncontrolling interest — (103) Net income from continuing operations attributable to LKQ stockholders 265,913 146,154 Add: Depreciation and amortization 65,801 65,495 Depreciation and amortization - cost of goods sold 5,615 5,085 Depreciation and amortization - restructuring expenses (1) 181 799 Interest expense, net of interest income 24,179 25,931 Loss on debt extinguishment — 12,751 Provision for income taxes 92,969 60,411 EBITDA 454,658 316,626 Subtract: Equity in earnings of unconsolidated subsidiaries (2) 5,819 516 Equity investment mark to market adjustments 4,739 — Add: Restructuring and acquisition related expenses (1) 7,704 6,171 Restructuring expenses - cost of goods sold (163) (4) Impairment of net assets held for sale and (gain on disposal of business) 15 (249) Change in fair value of contingent consideration liabilities (49) (96) Segment EBITDA $ 451,607 $ 321,932
Schedule Of Capital Expenditures By Reportable SegmentThe following table presents capital expenditures by reportable segment (in thousands): Three Months Ended March 31, 2021 2020 Capital Expenditures North America $ 13,335 $ 29,321 Europe 26,298 13,048 Specialty 2,146 2,169 Total capital expenditures $ 41,779 $ 44,538
Schedule Of Assets By Reportable SegmentThe following table presents assets by reportable segment (in thousands): March 31, December 31, 2021 2020 Receivables, net North America $ 401,737 $ 386,289 Europe 680,067 598,615 Specialty 170,570 88,485 Total receivables, net 1,252,374 1,073,389 Inventories North America 776,512 810,798 Europe 1,278,147 1,302,649 Specialty 338,055 301,165 Total inventories 2,392,714 2,414,612 Property, plant and equipment, net North America 569,428 583,985 Europe 556,489 583,439 Specialty 78,726 81,279 Total property, plant and equipment, net 1,204,643 1,248,703 Operating lease assets, net North America 777,546 755,430 Europe 520,857 520,131 Specialty 74,835 77,563 Total operating lease assets, net 1,373,238 1,353,124 Equity method investments North America 21,098 18,676 Europe 149,631 136,548 Total equity method investments 170,729 155,224 Other unallocated assets 6,271,759 6,115,481 Total assets $ 12,665,457 $ 12,360,533
Revenue from External Customers by Geographic AreaThe following table sets forth our revenue by geographic area (in thousands): Three Months Ended March 31, 2021 2020 Revenue United States $ 1,605,433 $ 1,533,945 United Kingdom 403,438 390,619 Germany 387,876 374,552 Other countries 774,039 701,819 Total revenue $ 3,170,786 $ 3,000,935
Schedule Of Tangible Long-Lived Assets By Geographic AreaThe following table sets forth our tangible long-lived assets by geographic area (in thousands): March 31, December 31, 2021 2020 Long-lived assets United States $ 1,423,988 $ 1,419,113 Germany 344,602 360,184 United Kingdom 310,013 315,333 Other countries 499,278 507,197 Total long-lived assets $ 2,577,881 $ 2,601,827

Discontinued Operations (Detail

Discontinued Operations (Details) $ in Thousands, € in Millions3 Months Ended
Mar. 31, 2021USD ($)Mar. 31, 2020USD ($)Mar. 31, 2020EUR (€)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposition of subsidiary with noncontrolling interests(1) | $ $ 11,404
Notes receivable acquired in connection with disposal of business | $ $ 0 7,994
Proceeds from disposal of businesses, net of cash sold | $ $ 5,944 $ 1,763
Stahlgruber Czech Republic Wholesale Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners48.20%48.20%
Payments to Acquire Additional Interest in Subsidiaries | € € 8
Disposition of subsidiary with noncontrolling interests(1) | $ $ 11,000
Note issued to acquire noncontrolling interest | € € 4
Percentage of Business Sold100.00%100.00%
Notes receivable acquired in connection with disposal of business | € € 7
Proceeds from disposal of businesses, net of cash sold | € € 14

Financial Statement Informat_10

Financial Statement Information (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Inventory [Line Items]
Inventories $ 2,392,714 $ 2,414,612
Accounts Receivable, Allowance for Credit Loss, Current68,000 70,000
Accounts Receivable, Credit Loss Expense (Reversal)2,000 $ 9,000
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts Receivable, Credit Loss Expense (Reversal)2,000 9,000
Adoption of ASU 2016-13(2,519)
Accounts Receivable, Allowance for Credit Loss, Current68,000 $ 70,000
Leased assets obtained in exchange for operating lease liabilities90,784 39,460
Amount that fair value exceeds carrying value30.00%
Payments for Repurchase of Common Stock56,979 88,006
Leased assets obtained in exchange for operating lease liabilities90,784 39,460
AftermarketAndRefurbishedProducts [Member]
Inventory [Line Items]
Inventories2,020,707 $ 2,025,002
SalvageAndRemanufacturedProducts [Member]
Inventory [Line Items]
Inventories349,539 368,815
ManufacturedProducts [Member]
Inventory [Line Items]
Inventories22,468 20,795
Inventory, Raw Materials and Supplies, Gross17,000 16,000
Inventory, Work in Process, Gross4,000 3,000
Inventory, Finished Goods, Gross $ 2,000 $ 2,000
Prior Year Unadjusted Disclosure
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Leased assets obtained in exchange for operating lease liabilities18,000
Leased assets obtained in exchange for operating lease liabilities $ 18,000

Financial Statement Informat_11

Financial Statement Information Intangible Assets (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Intangible Assets
Amount that fair value exceeds carrying value30.00%
Goodwill $ 4,515,634 $ 4,591,569

Financial Statement Informat_12

Financial Statement Information Investments in Unconsolidated Subsidiaries (Details) $ in ThousandsDec. 01, 2016USD ($)Mar. 31, 2021USD ($)Mar. 31, 2020USD ($)Dec. 31, 2018USD ($)Mar. 31, 2021SEK (kr)Dec. 31, 2020USD ($)
Schedule of Equity Method Investments [Line Items]
Equity method investments $ 170,729 $ 155,224
Payments to Acquire Equity Method Investments2,824 $ 405
Equity in (losses) earnings of unconsolidated subsidiaries(5,819)(516)
Mekonomen [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investments139,000
Equity Method Investment, Ownership Percentage26.50%
Payments to Acquire Equity Method Investments $ 181,000 $ 48,000
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity7,000
Share Price of the Equity Method Investment | kr kr 129
Equity Method Investments, Fair Value Disclosure230,000
Mekonomen [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage26.60%
Europe
Schedule of Equity Method Investments [Line Items]
Equity method investments149,631 136,548
Equity in (losses) earnings of unconsolidated subsidiaries6,000 $ 1,000
North America
Schedule of Equity Method Investments [Line Items]
Equity method investments $ 21,098 $ 18,676

Financial Statement Informat_13

Financial Statement Information Warranty Reserve (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Warranty Reserve [Abstract]
Standard Product Warranty Accrual $ 28,467 $ 27,914
Standard Product Warranty Accrual, Increase for Warranties Issued18,470
Standard Product Warranty Accrual, Decrease for Payments $ 17,917

Financial Statement Informat_14

Financial Statement Information Treasury Stock (Details) - USD ($) $ in Thousands, shares in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Treasury Stock [Abstract]
Stock Repurchase Program, Authorized Amount $ 1,000,000
Stock Repurchased During Period, Shares1.5 3.3
Payments for Repurchase of Common Stock $ 56,979 $ 88,006
Stock Repurchase Program Remaining Authorized Repurchases, Amount $ 474,000

Financial Statement Informat_15

Financial Statement Information Recently Adopted Accounting Pronouncements (Details) $ in Thousands3 Months Ended
Mar. 31, 2020USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASU 2016-13 $ (2,519)

Financial Statement Informat_16

Financial Statement Information Noncontrolling Interest (Details)3 Months Ended
Mar. 31, 2020USD ($)Mar. 31, 2021USD ($)Dec. 31, 2020USD ($)Dec. 31, 2019USD ($)Dec. 31, 2019EUR (€)
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Decrease from Deconsolidation $ 11,404,000
Redeemable noncontrolling interest $ 24,077,000 $ 24,077,000 $ 24,000,000
Redeemable NCI, Call Option26,000,000 € 23,000,000
Reedemable NCI, Put Option $ 24,000,000 € 21,000,000
Noncontrolling Interest
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Decrease from Deconsolidation $ 11,404,000

Financial Statement Informat_17

Financial Statement Information Government Assistance (Details) $ in Millions3 Months Ended
Mar. 31, 2021USD ($)
Government Assistance [Line Items]
Government Assistance Amount $ 9
Canada
Government Assistance [Line Items]
Government Assistance Amount2
Europe
Government Assistance [Line Items]
Government Assistance Amount7
Selling, General and Administrative Expenses [Member]
Government Assistance [Line Items]
Government Assistance Amount9
cost of goods and services sold [Member]
Government Assistance [Line Items]
Government Assistance Amount $ 1

Revenue Recognition Disaggreg_2

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Revenue Recognition [Line Items]
Revenues $ 3,170,786 $ 3,000,935
Deferred Service-Type Warranty Revenue27,299 $ 25,622
Deferred Service-Type Revenue, Additions13,511
Deferred Service-Type Revenue Recognized(11,834)
Revenue, Variable Consideration Reserve87,000 127,000
Contract with Customer, Right to Recover Product59,000 57,000
Contract with Customer, Refund Liability105,000 $ 102,000
Specialty [Member]
Revenue Recognition [Line Items]
Revenues458,939 348,582
North America
Revenue Recognition [Line Items]
Revenues1,249,693 1,290,195
Europe
Revenue Recognition [Line Items]
Revenues1,463,453 1,363,594
Parts and Services [Domain]
Revenue Recognition [Line Items]
Revenues2,931,766 2,812,717
Parts and Services [Domain] | Specialty [Member]
Revenue Recognition [Line Items]
Revenues457,959 347,406
Parts and Services [Domain] | North America
Revenue Recognition [Line Items]
Revenues1,018,437 1,107,342
Parts and Services [Domain] | Europe
Revenue Recognition [Line Items]
Revenues1,455,370 1,357,969
Other Revenue [Member]
Revenue Recognition [Line Items]
Revenues $ 239,020 $ 188,218

Revenue Recognition Movement in

Revenue Recognition Movement in Standard Product Warranty Accrual (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Product Warranty Liability [Line Items]
Contract with Customer, Right to Recover Product $ 59,000 $ 57,000
Contract with Customer, Refund Liability105,000 102,000
Revenue, Variable Consideration Reserve87,000 127,000
Deferred Service-Type Warranty Revenue27,299 $ 25,622
Deferred Revenue, Additions13,511
Deferred Revenue, Revenue Recognized $ 11,834
Minimum [Member]
Product Warranty Liability [Line Items]
Standard Product Warranty Period6 months
Maximum
Product Warranty Liability [Line Items]
Standard Product Warranty Period36 months

Restructuring and Acquisition_2

Restructuring and Acquisition Related Expenses (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Costs $ (2)
2020 Global Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Costs $ (2)(2)
Restructuring Reserve16 $ 21
Employee-related Costs and Facility Exit Costs5
Gain (Loss) on Disposition of Property Plant Equipment3
2020 Global Restructuring Program [Member] | Employee-related liabilities, current
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve3 4
2020 Global Restructuring Program [Member] | Operating Lease, Liability
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve13 $ 17
2020 Global Restructuring Program [Member] | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost75
2020 Global Restructuring Program [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost65
2019 Global Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Costs(1)(3)
Restructuring and Related Cost, Expected Cost46
1 LKQ Europe Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Costs(5)
1 LKQ Europe Program [Member] | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining55
1 LKQ Europe Program [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Remaining45
Specialty [Member] | 2020 Global Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost2
Restructuring and Related Cost, Cost Incurred to Date1
Specialty [Member] | 2019 Global Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost1
Europe | 2020 Global Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost36
Restructuring and Related Cost, Cost Incurred to Date23
Europe | 2019 Global Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Costs(2)
Restructuring and Related Cost, Expected Cost31
North America | 2020 Global Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost31
Restructuring and Related Cost, Cost Incurred to Date27
North America | 2019 Global Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Costs $ (1)
Restructuring and Related Cost, Expected Cost $ 14

Equity Incentive Plans - Additi

Equity Incentive Plans - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense $ 7,792 $ 7,968
Stock Options [Abstract]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount $ 61,000
Performance Based RSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Performance Period3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number413,411 291,601
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 32.49 $ 29.98
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value $ 38.50 $ 32.21
RSUs [Abstract]
RSUs granted, shares121,810
Stock Options [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected To Vest, Number413,411
lkq_expected_to_vest_other_than_options_weighted_average_per_share $ 32.49
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms1 year 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested $ 17,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period0
RSUs forfeited/canceled, weighted average grant date fair value $ 0
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number1,793,159 1,479,672
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 34.08 $ 31.71
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value $ 38.52 $ 33.14
RSUs [Abstract]
RSUs granted, shares690,011
Fair value of RSUs vested during the period $ 14,000
Stock Options [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected To Vest, Number1,604,984
lkq_expected_to_vest_other_than_options_weighted_average_per_share $ 34.25
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms3 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested $ 67,939
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period(13,774)
RSUs forfeited/canceled, weighted average grant date fair value $ 33.92
Maximum | Restricted Stock Units (RSUs) [Member]
Stock Options [Abstract]
Vesting period5 years
Maximum | Performance Shares [Member]
RSUs [Abstract]
Reporting period of positive diluted earnings per share5 years

Stock-Based Compensation Schedu

Stock-Based Compensation Schedule of Unvested Restricted Stock Units Activity (Details) - RSUs - USD ($) $ / shares in Units, $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Shares Outstanding [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number1,793,159 1,479,672
RSUs granted, shares690,011
RSUs vested, shares(362,750)
RSUs forfeited/canceled, shares(13,774)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected To Vest, Number1,604,984
lkq_expected_to_vest_other_than_options_weighted_average_per_share $ 34.25
Weighted Average Fair Value [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value34.08 $ 31.71
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value38.52 $ 33.14
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value32.86
RSUs forfeited/canceled, weighted average grant date fair value $ 33.92
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms3 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested $ 67,939

Schedule of Stock-Based Compens

Schedule of Stock-Based Compensation Expense Expected to be Recognized (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense $ 7,792 $ 7,968
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount $ 61,000

Earnings Per Share Earnings P_2

Earnings Per Share Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Schedule of Earnings Per Share, Basic and Diluted [Line Items]
Net income $ 266,332 $ 145,979
Income from continuing operations $ 266,332 $ 146,894
Denominator for basic earnings per share—Weighted-average shares outstanding303,043 306,238
Effect of dilutive securities:
Denominator for diluted earnings per share—Adjusted weighted-average shares outstanding303,765 306,757
Income from continuing operations $ 0.88 $ 0.48
Income from continuing operations $ 0.88 $ 0.48
RSUs
Effect of dilutive securities:
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements628 515
Performance Based RSU [Member]
Effect of dilutive securities:
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements94 0
Stock options
Effect of dilutive securities:
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements0 4

Schedule of Antidilutive Securi

Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share (Details) - shares shares in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities117 381

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss $ (126,122) $ (313,903) $ (99,009) $ (200,885)
Pretax income (loss)(21,453)(99,878)
Reclassification of unrealized loss (gain)(1,906)(13,593)
Reclassification of deferred income taxes494 3,194
OtherComprehensiveIncomeLossBeforeReclassificationsDisposalOfBusiness95
Other comprehensive income from unconsolidated subsidiaries(3,512)(1,852)
Other Comprehensive Income (Loss), Tax736 (984)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss(81,698)(274,858)(57,126)(170,893)
Pretax income (loss)(24,572)(104,060)
Reclassification of unrealized loss (gain)0 0
Reclassification of deferred income taxes0 0
OtherComprehensiveIncomeLossBeforeReclassificationsDisposalOfBusiness95
Other comprehensive income from unconsolidated subsidiaries0 0
Other Comprehensive Income (Loss), Tax0 0
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss(310)(1,963)(968)5,358
Pretax income (loss)3,119 4,182
Reclassification of unrealized loss (gain)(2,343)(13,707)
Reclassification of deferred income taxes618 3,188
OtherComprehensiveIncomeLossBeforeReclassificationsDisposalOfBusiness0
Other comprehensive income from unconsolidated subsidiaries0 0
Other Comprehensive Income (Loss), Tax736 984
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss(32,654)(31,814)(32,967)(31,934)
Pretax income (loss)0 0
Reclassification of unrealized loss (gain)437 114
Reclassification of deferred income taxes(124)6
OtherComprehensiveIncomeLossBeforeReclassificationsDisposalOfBusiness0
Other comprehensive income from unconsolidated subsidiaries0 0
Other Comprehensive Income (Loss), Tax0 0
Accumulated Gain (Loss) from Unconsoldated Subsidiaries [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss(11,460)(5,268) $ (7,948) $ (3,416)
Pretax income (loss)0 0
Reclassification of unrealized loss (gain)0 0
Reclassification of deferred income taxes0 0
OtherComprehensiveIncomeLossBeforeReclassificationsDisposalOfBusiness0
Other comprehensive income from unconsolidated subsidiaries(3,512)(1,852)
Other Comprehensive Income (Loss), Tax0 0
Interest expense, net of interest income [Member] | Interest Rate Swap [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification of unrealized loss (gain)693 (3,296)
Interest expense, net of interest income [Member] | Currency Swap [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification of unrealized loss (gain)(539)(2,551)
Other income, net [Member] | Currency Swap [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification of unrealized loss (gain)(1,973)(7,860)
Other income, net [Member] | Forward Contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification of unrealized loss (gain) $ (524) $ 0

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) Additional Information (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Schedule of Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification From Aoci Current Period Net Of Tax Attributable To Parent Unrealized Loss Gains $ 1,906 $ 13,593
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Schedule of Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification From Aoci Current Period Net Of Tax Attributable To Parent Unrealized Loss Gains $ 2,343 $ 13,707

Long-Term Obligations - Additio

Long-Term Obligations - Additional Information (Details) $ in Thousands, € in MillionsApr. 01, 2021USD ($)Apr. 01, 2021EUR (€)Jan. 10, 2020USD ($)Dec. 31, 2021USD ($)Sep. 30, 2021Jun. 30, 2021Mar. 31, 2021USD ($)Jun. 30, 2020USD ($)Mar. 31, 2020USD ($)Jan. 29, 2024USD ($)Jan. 29, 2024Dec. 31, 2020USD ($)Dec. 20, 2018USD ($)Nov. 20, 2018USD ($)Apr. 09, 2018EUR (€)Dec. 01, 2017Apr. 14, 2016
Debt Instrument
Debt and Capital Lease Obligations, Net $ 2,711,692 $ 2,871,138
Restructuring Charges And Business Combination Acquisition Related Costs net of Restructuring Depreciation181 $ 799
Borrowings Under Credit Facility853,000 967,000
Early-redemption premium0 (9,498)
Loss on debt extinguishment0 (12,751)
Long-term obligations, total2,735,022 2,896,676
Unrealized Gain (Loss) on Marketable Securities, Cost Method Investments, and Other Investments4,739 0
Impairment of net assets held for sale and (gain on disposal of business)15 $ (249)
Loans Payable [Member]
Debt Instrument
Secured Debt319,375 323,750
US Notes (2023) [Member]
Debt Instrument
Senior notes interest rate4.75%
Debt Instrument, Redemption Price, Percentage101.583%
Extinguishment of Debt, Amount $ 614,000
Early-redemption premium9,000
Interest and Debt Expense4,000
Loss on debt extinguishment13,000
Euro Notes (2024)
Debt Instrument
Long-term Debt586,500 610,800
Senior notes interest rate3.875%
Long-term Debt, Fair Value $ 633,000 662,000
Senior Notes 2024 [Member]
Debt Instrument
Debt Instrument, Redemption Price, Percentage100.00%
Euro Notes 2026/28 [Member]
Debt Instrument
Long-term Debt $ 1,173,000 1,221,600 € 1,000
Debt Instrument, Redemption Price, Percentage100.00%
Long-term Debt, Fair Value $ 1,200,000 $ 1,300,000
Euro Notes 2026
Debt Instrument
Debt Instrument, Redemption Price, Percentage101.813%101.813%
Extinguishment of Debt, Amount $ 915,000 € 777
Early-redemption premium16,000 14
Interest and Debt Expense16,000 € 14
Loss on debt extinguishment $ 24,000
Revolving Credit Facility [Member]
Debt Instrument
Weighted average interest rates1.20%1.70%
Line of Credit Facility, Remaining Borrowing Capacity $ 2,500,000
Amendment No. 3, Fourth Amended and Restate Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Instrument
Long-Term Line of Credit, Current $ 18,000
Maximum Permitted Net Leverage Ratio400.00%
Fourth Amended Credit Agreement | Revolving Credit Facility [Member]
Debt Instrument
Payments of Financing Costs $ 4,000
Mitsubishi UFJ [Member] | Receivables securitization
Debt Instrument
Line of Credit Facility, Maximum Borrowing Capacity $ 110,000
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount $ 0 $ 0
AmendmentNo.4FourthAmendedandRestateCreditAgreementMember | Revolving Credit Facility [Member]
Debt Instrument
Line of Credit Facility, Maximum Borrowing Capacity $ 3,150,000
Line of Credit Facility, Frequency of Paymentsquarterly installments
Line of Credit Facility, Periodic Payment $ 4,000
Increment change in applicable margin0.25%
Long-Term Line of Credit, Current $ 18,000
Outstanding letters of credit $ 71,000
Maximum Permitted Net Leverage Ratio400.00%425.00%450.00%500.00%
AmendmentNo.4FourthAmendedandRestateCreditAgreementMember | Letter of Credit [Member]
Debt Instrument
Line of Credit Facility, Commitment Fee Percentage0.125%
Twenty Twenty Three [Domain] | US Notes (2023) [Member]
Debt Instrument
Long-term Debt $ 600,000
TwentyTwentySix [Member] | Euro Notes 2026/28 [Member]
Debt Instrument
Long-term Debt | € € 750
Senior notes interest rate3.625%
TwentyTwentyEight [Member] | Euro Notes 2026/28 [Member]
Debt Instrument
Long-term Debt | € € 250
Senior notes interest rate4.125%
Net Receivables [Member] | Mitsubishi UFJ [Member] | Receivables securitization
Debt Instrument
Debt Instrument, Collateral Amount $ 111,000 $ 121,000
Maximum | AmendmentNo.4FourthAmendedandRestateCreditAgreementMember | Revolving Credit Facility [Member]
Debt Instrument
Increment change in commitment fees0.05%

Schedule of Long-Term Obligatio

Schedule of Long-Term Obligations (Details) $ in Thousands, € in Millions3 Months Ended62 Months Ended
Dec. 31, 2021Sep. 30, 2021Jun. 30, 2021Mar. 31, 2021USD ($)Jan. 29, 2024Dec. 31, 2020USD ($)Apr. 09, 2018EUR (€)Apr. 14, 2016EUR (€)
Debt Instrument
Finance Lease, Liability $ 54,505 $ 57,336
Other Debt46,340 15,706
Long-term obligations, total2,735,022 2,896,676
Deferred Finance Costs, Noncurrent, Net(15,379)(25,225)
Deferred Finance Costs, Current, Net(7,951)(313)
Long-term obligations, total, net2,711,692 2,871,138
Current portion of long-term obligations(239,962)(58,497)
Long-term obligations, excluding current portion2,471,730 2,812,641
Loans Payable
Debt Instrument
Term loan319,375 323,750
Revolving Credit Facility [Member]
Debt Instrument
Long-term Line of Credit533,882 642,958
Euro Notes (2024)
Debt Instrument
Long-term Debt586,500 610,800
Euro Notes 2026/28 [Member]
Debt Instrument
Long-term Debt1,173,000 1,221,600 € 1,000
Notes payable
Debt Instrument
Notes Payable $ 21,420 $ 24,526
Revolving Credit Facility [Member]
Debt Instrument
Weighted average interest rates1.20%1.70%
Amendment No. 3, Fourth Amended and Restate Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Instrument
Maximum Permitted Net Leverage Ratio400.00%
Mitsubishi UFJ [Member] | Receivables securitization
Debt Instrument
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount $ 0 $ 0
AmendmentNo.4FourthAmendedandRestateCreditAgreementMember | Revolving Credit Facility [Member]
Debt Instrument
Maximum Permitted Net Leverage Ratio400.00%425.00%450.00%500.00%
Twenty Twenty Four [Domain] | Euro Notes (2024)
Debt Instrument
Long-term Debt | € € 500
TwentyTwentySix [Member] | Euro Notes 2026/28 [Member]
Debt Instrument
Long-term Debt | €750
TwentyTwentyEight [Member] | Euro Notes 2026/28 [Member]
Debt Instrument
Long-term Debt | € € 250

Schedule of Long-Term Obligat_2

Schedule of Long-Term Obligations (Parenthetical) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Debt Instrument
Finance Lease, Weighted Average Discount Rate, Percent3.50%3.50%
Notes Payable [Member]
Debt Instrument
Debt, Weighted Average Interest Rate3.40%3.30%
Senior Notes 2024 [Member]
Debt Instrument
Debt Instrument, Redemption Price, Percentage100.00%
Euro Notes 2026/28 [Member]
Debt Instrument
Debt Instrument, Redemption Price, Percentage100.00%
Other Debt [Member] [Member]
Debt Instrument
Debt, Weighted Average Interest Rate1.10%1.20%
Mitsubishi UFJ [Member] | Receivables Securitization [Member]
Debt Instrument
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount $ 0 $ 0
Revolving Credit Facility [Member]
Debt Instrument
Debt, Weighted Average Interest Rate1.20%1.70%

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Details) € in Thousands, kr in Thousands, $ in Thousands, £ in MillionsApr. 01, 2021USD ($)Mar. 31, 2021USD ($)Mar. 31, 2021EUR (€)Mar. 31, 2021SEK (kr)Dec. 31, 2020USD ($)Dec. 31, 2020EUR (€)Dec. 31, 2020SEK (kr)Dec. 31, 2020GBP (£)
Derivative Liability, Current $ 335 $ 58,577
Interest Rate Swap [Member]
Derivative, Notional Amount150,000 480,000
Cross Currency Interest Rate Contract [Member]
Derivative, Notional Amount | € € 0 € 340,000
Forward Contracts
Derivative, Notional Amount $ 720,000 315,000 € 184,000 kr 0 € 142,000 kr 227,000 £ 75
Fair Value, Recurring [Member] | Cross Currency Interest Rate Contract [Member]
Derivative Liability, Current0 56,328
Fair Value, Recurring [Member] | Interest Rate Swap [Member]
Derivative Liability, Current335 899
Fair Value, Recurring [Member] | Forward Contracts
Derivative Liability, Current $ 0 $ 1,350

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Thousands, € in BillionsMar. 31, 2021USD ($)Dec. 31, 2020USD ($)Apr. 09, 2018EUR (€)
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Long-term Line of Credit $ 853,000 $ 967,000
Fair Value, Recurring [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, Fair Value Disclosure83,886 72,250
Financial and Nonfinancial Liabilities, Fair Value Disclosure85,620 151,920
Fair Value, Recurring [Member] | Cash Surrender Value [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, Fair Value Disclosure79,435 72,250
Fair Value, Recurring [Member] | Interest Rate Swap [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure335 899
Fair Value, Recurring [Member] | Contingent Consideration Liabilities [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure3,422 13,263
Fair Value, Recurring [Member] | Deferred Compensation Liabilities [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure81,231 76,240
Fair Value, Recurring [Member] | Cross Currency Interest Rate Contract [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure56,328
Fair Value, Recurring [Member] | Forward Contracts
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, Fair Value Disclosure4,451
Fair Value, Recurring [Member] | Forward Contracts | Instruments designated as hedging and non-hedging
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure632 5,190
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, Fair Value Disclosure0 0
Financial and Nonfinancial Liabilities, Fair Value Disclosure0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Surrender Value [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, Fair Value Disclosure0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Contingent Consideration Liabilities [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Deferred Compensation Liabilities [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Cross Currency Interest Rate Contract [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Forward Contracts
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, Fair Value Disclosure0
Financial and Nonfinancial Liabilities, Fair Value Disclosure0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, Fair Value Disclosure83,886 72,250
Financial and Nonfinancial Liabilities, Fair Value Disclosure82,198 138,657
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Surrender Value [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, Fair Value Disclosure79,435 72,250
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure335 899
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Contingent Consideration Liabilities [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Deferred Compensation Liabilities [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure81,231 76,240
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Cross Currency Interest Rate Contract [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure56,328
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Forward Contracts
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, Fair Value Disclosure4,451
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Forward Contracts | Instruments designated as hedging and non-hedging
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure632 5,190
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, Fair Value Disclosure0 0
Financial and Nonfinancial Liabilities, Fair Value Disclosure3,422 13,263
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Surrender Value [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, Fair Value Disclosure0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Contingent Consideration Liabilities [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure3,422 13,263
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Deferred Compensation Liabilities [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Cross Currency Interest Rate Contract [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Forward Contracts
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets, Fair Value Disclosure0
Financial and Nonfinancial Liabilities, Fair Value Disclosure0 0
Euro Notes 2026/28 [Member]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Long-term Debt1,173,000 1,221,600 € 1
Long-term Debt, Fair Value1,200,000 1,300,000
Euro Notes (2024)
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Long-term Debt586,500 610,800
Long-term Debt, Fair Value $ 633,000 $ 662,000

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Funded (Unfunded) Status of Plan $ 146,000 $ 153,000
Defined Benefit Plan, Service Cost895 $ 670
Defined Benefit Plan, Interest Cost342 718
Defined Benefit Plan, Expected Return (Loss) on Plan Assets(423)(478)
Defined Benefit Plan, Amortization of Gain (Loss)(437)(114)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) $ 1,251 $ 1,024

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Effective Income Tax Rate Reconciliation, Percent26.30%29.20%
Effective Income Tax Rate Reconciliation, Change as a result of the Discrete Items, Percent0.20%0.80%

Segment and Geographic Inform_3

Segment and Geographic Information - Additional Information (Details) $ in Thousands3 Months Ended
Mar. 31, 2021USD ($)Mar. 31, 2020USD ($)
Segment Reporting Information
Net income $ 266,332 $ 145,979
Less: net income attributable to continuing noncontrolling interest419 740
Less: net income attributable to discontinued noncontrolling interest0 103
Segment EBITDA451,607 321,932
Depreciation and amortization $ 71,597 71,379
Number of operating segments4
Number of reportable segments3
Revenue $ 3,170,786 3,000,935
Intersegment [Member]
Segment Reporting Information
Revenue0 0
Third Party [Member]
Segment Reporting Information
Revenue3,170,786 3,000,935
Specialty [Member]
Segment Reporting Information
Segment EBITDA61,482 32,232
Depreciation and amortization7,079 7,136
Revenue458,939 348,582
Specialty [Member] | Intersegment [Member]
Segment Reporting Information
Revenue980 1,176
Specialty [Member] | Third Party [Member]
Segment Reporting Information
Revenue457,959 347,406
North America
Segment Reporting Information
Segment EBITDA249,167 211,438
Depreciation and amortization $ 24,260 23,148
Number of reportable segments1
Revenue $ 1,249,693 1,290,195
North America | Intersegment [Member]
Segment Reporting Information
Revenue319 260
North America | Third Party [Member]
Segment Reporting Information
Revenue1,249,374 1,289,935
us-gaap_IntersegmentEliminationMember
Segment Reporting Information
Segment EBITDA0 0
Depreciation and amortization0 0
Revenue(1,299)1,436
us-gaap_IntersegmentEliminationMember | Intersegment [Member]
Segment Reporting Information
Revenue(1,299)1,436
us-gaap_IntersegmentEliminationMember | Third Party [Member]
Segment Reporting Information
Revenue $ 0 $ 0

Schedule of Financial Performan

Schedule of Financial Performance by Reportable Segment (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Segment Reporting Information
Revenues $ (3,170,786) $ (3,000,935)
Segment EBITDA451,607 321,932
Depreciation and amortization71,597 71,379
Specialty [Member]
Segment Reporting Information
Revenues(458,939)(348,582)
Segment EBITDA61,482 32,232
Depreciation and amortization7,079 7,136
North America
Segment Reporting Information
Revenues(1,249,693)(1,290,195)
Segment EBITDA249,167 211,438
Depreciation and amortization24,260 23,148
Europe
Segment Reporting Information
Revenues(1,463,453)(1,363,594)
Segment EBITDA140,958 78,262
Depreciation and amortization40,258 41,095
us-gaap_IntersegmentEliminationMember
Segment Reporting Information
Revenues1,299 (1,436)
Segment EBITDA0 0
Depreciation and amortization0 0
Third Party [Member]
Segment Reporting Information
Revenues(3,170,786)(3,000,935)
Third Party [Member] | Specialty [Member]
Segment Reporting Information
Revenues(457,959)(347,406)
Third Party [Member] | North America
Segment Reporting Information
Revenues(1,249,374)(1,289,935)
Third Party [Member] | Europe
Segment Reporting Information
Revenues(1,463,453)(1,363,594)
Third Party [Member] | us-gaap_IntersegmentEliminationMember
Segment Reporting Information
Revenues0 0
Intersegment [Member]
Segment Reporting Information
Revenues0 0
Intersegment [Member] | Specialty [Member]
Segment Reporting Information
Revenues(980)(1,176)
Intersegment [Member] | North America
Segment Reporting Information
Revenues(319)(260)
Intersegment [Member] | Europe
Segment Reporting Information
Revenues0 0
Intersegment [Member] | us-gaap_IntersegmentEliminationMember
Segment Reporting Information
Revenues $ 1,299 $ (1,436)

Reconciliation Of Segment EBITD

Reconciliation Of Segment EBITDA To Net Income (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Reconciliation of Segment Earnings Before Interest Taxes Depreciation And Amortization to Net Income Table [Line Items]
Net income $ 266,332 $ 145,979
Less: net (loss) income attributable to continuing noncontrolling interest419 740
Less: net income attributable to discontinued noncontrolling interest0 (103)
Net income attributable to LKQ stockholders265,913 145,136
Net income from discontinued operations0 915
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent265,913 146,154
Depreciation and amortization65,801 65,495
Cost, Depreciation5,615 5,085
Depreciation and Amortization - Restructuring Expenses181 799
Interest expense, net of interest income24,179 25,931
(Gain) loss on debt extinguishment0 12,751
Provision for income taxes92,969 60,411
EBITDA454,658 316,626
Equity in (losses) earnings of unconsolidated subsidiaries5,819 516
Restructuring Charges And Business Combination Acquisition Related Costs net of Restructuring Depreciation7,704 6,171
CostofGoodsSoldRestructuringCharges(163)(4)
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability(49)(96)
Segment EBITDA $ 451,607 $ 321,932

Schedule of Capital Expenditure

Schedule of Capital Expenditures by Reportable Segment (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Segment Reporting Information
Capital Expenditures $ 41,779 $ 44,538
Specialty [Member]
Segment Reporting Information
Capital Expenditures2,146 2,169
North America
Segment Reporting Information
Capital Expenditures13,335 29,321
Europe
Segment Reporting Information
Capital Expenditures $ 26,298 $ 13,048

Schedule of Assets by Reportabl

Schedule of Assets by Reportable Segment (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Segment Reporting Information
Receivables, net $ 1,252,374 $ 1,073,389
Inventories2,392,714 2,414,612
Property, plant and equipment, net1,204,643 1,248,703
Operating lease assets, net1,373,238 1,353,124
Equity method investments170,729 155,224
Other unallocated assets6,271,759 6,115,481
Total assets12,665,457 12,360,533
Specialty [Member]
Segment Reporting Information
Receivables, net170,570 88,485
Inventories338,055 301,165
Property, plant and equipment, net78,726 81,279
Operating lease assets, net74,835 77,563
North America
Segment Reporting Information
Receivables, net401,737 386,289
Inventories776,512 810,798
Property, plant and equipment, net569,428 583,985
Operating lease assets, net777,546 755,430
Equity method investments21,098 18,676
Europe
Segment Reporting Information
Receivables, net680,067 598,615
Inventories1,278,147 1,302,649
Property, plant and equipment, net556,489 583,439
Operating lease assets, net520,857 520,131
Equity method investments $ 149,631 $ 136,548

Segment and Geographic Inform_4

Segment and Geographic Information Schedule of Revenue by Geographic Area (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Revenues from External Customers and Long-Lived Assets
Revenues $ 3,170,786 $ 3,000,935
UNITED STATES
Revenues from External Customers and Long-Lived Assets
Revenues1,605,433 1,533,945
GERMANY
Revenues from External Customers and Long-Lived Assets
Revenues387,876 374,552
UNITED KINGDOM
Revenues from External Customers and Long-Lived Assets
Revenues403,438 390,619
Other countries
Revenues from External Customers and Long-Lived Assets
Revenues $ 774,039 $ 701,819

Schedule of Tangible Long-Lived

Schedule of Tangible Long-Lived Assets by Geographic Area (Details) - USD ($) $ in ThousandsMar. 31, 2021Mar. 31, 2020
Revenues from External Customers and Long-Lived Assets
Long-Lived Assets $ 2,577,881 $ 2,601,827
UNITED STATES
Revenues from External Customers and Long-Lived Assets
Long-Lived Assets1,423,988 1,419,113
UNITED KINGDOM
Revenues from External Customers and Long-Lived Assets
Long-Lived Assets310,013 315,333
Other countries
Revenues from External Customers and Long-Lived Assets
Long-Lived Assets499,278 507,197
GERMANY
Revenues from External Customers and Long-Lived Assets
Long-Lived Assets $ 344,602 $ 360,184

Uncategorized Items - lkq-20210

LabelElementValue
Cash and Cash Equivalents, at Carrying Value, Including Discontinued Operationsus-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $ 534,857,000
Cash and Cash Equivalents, at Carrying Value, Including Discontinued Operationsus-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations312,154,000
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalentsus-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents6,470,000
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalentsus-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents0
Cash And Cash Equivalents, Continuing Operationslkq_CashAndCashEquivalentsContinuingOperations312,154,000
Cash And Cash Equivalents, Continuing Operationslkq_CashAndCashEquivalentsContinuingOperations $ 528,387,000