GENUINE PARTS COGPC
GENUINE PARTS CO Segments Disclosure
Segment Information
We are a global service provider of automotive and industrial replacement parts and value-added solutions, and our operating segments are organized based on the type of product sold and geography.
Certain of our operating segments are aggregated into our reportable segments since they have similar economic characteristics, products and services, type and class of customers, and distribution methods.
Effective December 31, 2025, we revised the aggregation of our operating segments to present three reportable segments: North America Automotive Parts Group ("North America Automotive"), International Automotive Parts Group ("International Automotive") and Industrial Parts Group ("Industrial"). Our North America Automotive and International Automotive segments distribute replacement parts for substantially all makes and models of automobiles, trucks, and other vehicles. Our Industrial segment distributes a wide variety of industrial bearings, mechanical and fluid power transmission equipment, hydraulic and pneumatic products, material handling components and other related parts and supplies. We believe this expanded segmentation will provide our investors with additional information to better understand our performance. Prior-period segment information has been recast to conform to the current period presentation.
Inter-segment sales are not significant. Approximately $301 million, $415 million and $577 million of income before income taxes were generated in jurisdictions outside the U.S. for the years ended December 31, 2025, 2024, and 2023, respectively. Net sales and net property, plant and equipment by country relate directly to our operations in the respective country. Corporate assets are principally cash and cash equivalents and headquarters’ facilities and equipment.
Our President and Chief Executive Officer is our Chief Operating Decision Maker ("CODM") and uses segment EBITDA to assess segment operating performance and make decisions about the allocation of resources.
The significant segment expenses regularly provided to the CODM are total cost of sales and total other operating expenses. Total other operating expenses represent all other costs of operating our segments, such as personnel, freight and delivery, facility, technology, marketing costs, as well as items such as foreign currency.
North America Automotive Segment
The following table presents a summary of our reportable North America Automotive segment financial information:
| (in thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Net sales | $ | 9,520,042 | $ | 9,212,238 | $ | 9,010,337 | ||||||||||||||
| Cost of goods sold | 5,822,484 | 5,796,329 | 5,729,330 | |||||||||||||||||
| Gross profit | 3,697,558 | 3,415,909 | 3,281,007 | |||||||||||||||||
| Operating expenses | 3,025,376 | 2,700,379 | 2,493,262 | |||||||||||||||||
| EBITDA | $ | 672,182 | $ | 715,530 | $ | 787,745 | ||||||||||||||
| Gross margin (1) | 38.8 | % | 37.1 | % | 36.4 | % | ||||||||||||||
| Operating expenses as a percentage of net sales | 31.8 | % | 29.3 | % | 27.7 | % | ||||||||||||||
| EBITDA margin (2) | 7.1 | % | 7.8 | % | 8.7 | % | ||||||||||||||
International Automotive Segment
The following table presents a summary of our reportable International Automotive segment financial information:
| (in thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Net sales | $ | 5,858,566 | $ | 5,556,895 | $ | 5,236,446 | ||||||||||||||
| Cost of goods sold | 3,185,711 | 3,035,373 | 2,854,735 | |||||||||||||||||
| Gross profit | 2,672,855 | 2,521,522 | 2,381,711 | |||||||||||||||||
| Operating expenses | 2,128,682 | 1,953,521 | 1,830,322 | |||||||||||||||||
| EBITDA | $ | 544,173 | $ | 568,001 | $ | 551,389 | ||||||||||||||
| Gross margin (1) | 45.6 | % | 45.4 | % | 45.5 | % | ||||||||||||||
| Operating expenses as a percentage of net sales | 36.3 | % | 35.2 | % | 35.0 | % | ||||||||||||||
| EBITDA margin (2) | 9.3 | % | 10.2 | % | 10.5 | % | ||||||||||||||
Industrial Segment
The following table presents a summary of our reportable Industrial segment financial information:
| (in thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Net sales | $ | 8,921,533 | $ | 8,717,436 | $ | 8,843,827 | ||||||||||||||
| Cost of goods sold | 6,191,157 | 6,062,298 | 6,210,045 | |||||||||||||||||
| Gross profit | 2,730,376 | 2,655,138 | 2,633,782 | |||||||||||||||||
| Operating expenses | 1,583,954 | 1,552,950 | 1,500,861 | |||||||||||||||||
| EBITDA | $ | 1,146,422 | $ | 1,102,188 | $ | 1,132,921 | ||||||||||||||
| Gross margin (1) | 30.6 | % | 30.5 | % | 29.8 | % | ||||||||||||||
| Operating expenses as a percentage of net sales | 17.8 | % | 17.8 | % | 17.0 | % | ||||||||||||||
| EBITDA margin (2) | 12.9 | % | 12.6 | % | 12.8 | % | ||||||||||||||
(1)Gross margin is gross profit as a percentage of net sales.
(2)EBITDA margin is EBITDA as a percentage of net sales.
Additional Information
The following table presents a reconciliation from EBITDA to net income:
| (in thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Segment EBITDA | ||||||||||||||||||||
| North America Automotive | $ | 672,182 | $ | 715,530 | $ | 787,745 | ||||||||||||||
| International Automotive | 544,173 | 568,001 | 551,389 | |||||||||||||||||
| Industrial | 1,146,422 | 1,102,188 | 1,132,921 | |||||||||||||||||
| Corporate EBITDA (1) | (357,175) | (389,217) | (314,709) | |||||||||||||||||
| Interest expense, net | (163,506) | (96,827) | (64,469) | |||||||||||||||||
| Depreciation and amortization | (538,023) | (407,978) | (350,529) | |||||||||||||||||
| Other unallocated costs | (1,251,905) | (315,729) | — | |||||||||||||||||
| Income before income taxes | 52,168 | 1,175,968 | 1,742,348 | |||||||||||||||||
| Income tax benefit (expense) | 13,777 | (271,892) | (425,824) | |||||||||||||||||
| Net Income | $ | 65,945 | $ | 904,076 | $ | 1,316,524 | ||||||||||||||
(1)Corporate EBITDA consists of costs related to our corporate headquarters' broad support to our business units and other costs that are managed centrally and not allocated to business segments. These include personnel and other costs for company-wide functions such as executive leadership, human resources, technology, cybersecurity, legal, corporate finance, internal audit, and risk management, as well as asbestos-related product liability costs and A/R Sales Agreement fees.
The following table presents a summary of the other unallocated costs:
| (in thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Other unallocated costs: | ||||||||||||||||||||
| Restructuring and other costs (2) | $ | (253,961) | $ | (221,007) | $ | — | ||||||||||||||
| Acquisition and integration related costs and other (3) | (14,035) | (33,126) | — | |||||||||||||||||
| Inventory rebranding strategic initiative (4) | — | (61,596) | — | |||||||||||||||||
| Asbestos-related product liability (5) | (103,352) | — | — | |||||||||||||||||
| Pension settlement (6) | (741,967) | — | — | |||||||||||||||||
| First Brands credit loss allowance (7) | (150,500) | — | — | |||||||||||||||||
| Retirement obligation and other (8) | 11,910 | — | — | |||||||||||||||||
| Total other unallocated costs | $ | (1,251,905) | $ | (315,729) | $ | — | ||||||||||||||
(2)Amount reflects costs related to the global restructuring initiative which includes a voluntary retirement offer in the U.S. in 2024, and rationalization and optimization of certain distribution centers, stores and other facilities.
(3)Amount primarily reflects lease and other exit costs related to the ongoing integration of acquired independent automotive stores.
(4)Amount reflects a charge to write down certain existing inventory associated with a new global rebranding and relaunch of a key tool and equipment offering. The existing inventory that will be liquidated is comprised of otherwise saleable inventory, and the liquidation does not arise from our normal, recurring operational activities.
(5)Amount reflects a remeasurement of our asbestos-related product liability for a revised estimate of the number of claims to be incurred in future periods based on adverse current year changes in the claims environment, among other assumptions.
(6)Amount reflects a pension charge related to the settlement of our U.S. qualified defined benefit plan (U.S. pension plan).
(7)Amount reflects a charge for expected credit losses on volume purchase rebates and other amounts due from First Brands, a key automotive parts supplier who filed for Chapter 11 bankruptcy.
(8)Amount reflects certain nonroutine charges recorded during the quarter ended December 31, 2025, including a charge related to certain asset retirement obligations.
The following table presents a summary of our reportable segment total assets:
| (in thousands) | 2025 | 2024 | ||||||||||||
| Assets: | ||||||||||||||
| North America Automotive | $ | 7,838,732 | $ | 7,215,963 | ||||||||||
| International Automotive | 4,022,330 | 3,627,766 | ||||||||||||
| Industrial | 2,729,639 | 2,765,504 | ||||||||||||
| Corporate | 1,160,311 | 977,171 | ||||||||||||
| Goodwill and other intangible assets | 5,044,528 | 4,696,301 | ||||||||||||
| Total assets | $ | 20,795,540 | $ | 19,282,705 | ||||||||||
The following table presents a summary of select financial information by reportable segment:
| (in thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Depreciation and amortization: | ||||||||||||||||||||
| North America Automotive | $ | 136,384 | $ | 104,601 | $ | 82,704 | ||||||||||||||
| International Automotive | 120,451 | 101,935 | 80,813 | |||||||||||||||||
| Industrial | 42,060 | 34,818 | 30,082 | |||||||||||||||||
| Corporate | 86,697 | 23,630 | 9,752 | |||||||||||||||||
| Intangible asset amortization | 152,431 | 142,994 | 147,178 | |||||||||||||||||
| Total depreciation and amortization | $ | 538,023 | $ | 407,978 | $ | 350,529 | ||||||||||||||
| Capital expenditures: | ||||||||||||||||||||
| North America Automotive | $ | 130,094 | $ | 129,899 | $ | 77,295 | ||||||||||||||
| International Automotive | 156,853 | 181,805 | 202,648 | |||||||||||||||||
| Industrial | 44,734 | 76,730 | 53,823 | |||||||||||||||||
| Corporate | 138,158 | 178,905 | 178,909 | |||||||||||||||||
| Total capital expenditures | $ | 469,839 | $ | 567,339 | $ | 512,675 | ||||||||||||||
| Net sales: | ||||||||||||||||||||
| United States | $ | 15,788,840 | $ | 15,318,989 | $ | 15,247,740 | ||||||||||||||
| Europe | 4,010,876 | 3,839,134 | 3,611,453 | |||||||||||||||||
| Canada | 2,022,110 | 1,982,719 | 2,011,343 | |||||||||||||||||
| Australasia | 2,377,182 | 2,258,729 | 2,149,376 | |||||||||||||||||
| Mexico | 101,133 | 86,998 | 70,698 | |||||||||||||||||
| Total net sales | $ | 24,300,141 | $ | 23,486,569 | $ | 23,090,610 | ||||||||||||||
| Net property, plant and equipment: | ||||||||||||||||||||
| United States | $ | 1,254,960 | $ | 1,161,136 | $ | 935,583 | ||||||||||||||
| Europe | 423,976 | 384,161 | 339,330 | |||||||||||||||||
| Canada | 238,360 | 189,978 | 147,404 | |||||||||||||||||
| Australasia | 253,670 | 214,677 | 193,638 | |||||||||||||||||
| Mexico | 1,174 | 808 | 830 | |||||||||||||||||
| Total net property, plant and equipment | $ | 2,172,140 | $ | 1,950,760 | $ | 1,616,785 | ||||||||||||||
Net sales are disaggregated by geographical region for each of our reportable segments, as we deem this presentation best depicts how the nature, amount, timing and uncertainty of net sales and cash flows are affected by economic factors. The following table presents disaggregated geographical net sales from contracts with customers by reportable segment:
| (in thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| North America: | ||||||||||||||||||||
| Automotive | $ | 9,520,042 | $ | 9,212,238 | $ | 9,010,337 | ||||||||||||||
| Industrial | 8,392,041 | 8,176,468 | 8,319,444 | |||||||||||||||||
| Total North America | $ | 17,912,083 | $ | 17,388,706 | $ | 17,329,781 | ||||||||||||||
| Australasia: | ||||||||||||||||||||
| Automotive | $ | 1,847,690 | $ | 1,717,761 | $ | 1,624,993 | ||||||||||||||
| Industrial | 529,492 | 540,968 | 524,383 | |||||||||||||||||
| Total Australasia | $ | 2,377,182 | $ | 2,258,729 | $ | 2,149,376 | ||||||||||||||
| Europe - Automotive | $ | 4,010,876 | $ | 3,839,134 | $ | 3,611,453 | ||||||||||||||
| Total net sales | $ | 24,300,141 | $ | 23,486,569 | $ | 23,090,610 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 17, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 21, 2020 | |
| 2018 | Feb 25, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Feb 27, 2017 | |
| 2015 | Feb 26, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.