Company Quick10K Filing
Genuine Parts
Price97.43 EPS4
Shares147 P/E23
MCap14,276 P/FCF19
Net Debt2,967 EBIT892
TEV17,243 TEV/EBIT19
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-07-30
10-Q 2020-03-31 Filed 2020-05-06
10-K 2019-12-31 Filed 2020-02-21
10-Q 2019-09-30 Filed 2019-10-18
10-Q 2019-06-30 Filed 2019-07-19
10-Q 2019-03-31 Filed 2019-04-19
10-K 2018-12-31 Filed 2019-02-25
10-Q 2018-09-30 Filed 2018-10-22
10-Q 2018-06-30 Filed 2018-07-25
10-Q 2018-03-31 Filed 2018-04-26
10-K 2017-12-31 Filed 2018-02-27
10-Q 2017-09-30 Filed 2017-10-26
10-Q 2017-06-30 Filed 2017-07-28
10-Q 2017-03-31 Filed 2017-04-25
10-K 2016-12-31 Filed 2017-02-27
10-Q 2016-09-30 Filed 2016-10-28
10-Q 2016-06-30 Filed 2016-07-29
10-Q 2016-03-31 Filed 2016-04-29
10-K 2015-12-31 Filed 2016-02-26
10-Q 2015-09-30 Filed 2015-11-06
10-Q 2015-06-30 Filed 2015-08-07
10-Q 2015-03-31 Filed 2015-05-07
10-K 2014-12-31 Filed 2015-02-26
10-Q 2014-09-30 Filed 2014-11-06
10-Q 2014-06-30 Filed 2014-08-06
10-Q 2014-03-31 Filed 2014-05-07
10-K 2013-12-31 Filed 2014-02-27
10-Q 2013-09-30 Filed 2013-11-07
10-Q 2013-06-30 Filed 2013-08-06
10-Q 2013-03-31 Filed 2013-05-07
10-K 2012-12-31 Filed 2013-02-26
10-Q 2012-09-30 Filed 2012-11-08
10-Q 2012-06-30 Filed 2012-08-03
10-Q 2012-03-31 Filed 2012-05-07
10-Q 2011-09-30 Filed 2011-11-07
10-Q 2011-06-30 Filed 2011-08-04
10-Q 2011-03-31 Filed 2011-05-05
10-K 2010-12-31 Filed 2011-02-25
10-Q 2010-09-30 Filed 2010-11-04
10-Q 2010-06-30 Filed 2010-08-05
10-Q 2010-03-31 Filed 2010-05-06
10-K 2009-12-31 Filed 2010-02-26
8-K 2020-07-30 Earnings, Exhibits
8-K 2020-07-14 Officers, Exhibits
8-K 2020-06-30 Other Events, Exhibits
8-K 2020-05-06
8-K 2020-04-28
8-K 2020-04-06
8-K 2020-02-19
8-K 2020-02-18
8-K 2020-02-18
8-K 2019-11-18
8-K 2019-10-17
8-K 2019-08-19
8-K 2019-07-18
8-K 2019-04-23
8-K 2019-04-22
8-K 2019-04-18
8-K 2019-02-19
8-K 2019-02-19
8-K 2019-02-01
8-K 2019-01-22
8-K 2019-01-08
8-K 2018-12-13
8-K 2018-11-19
8-K 2018-10-18
8-K 2018-10-05
8-K 2018-09-27
8-K 2018-09-19
8-K 2018-09-10
8-K 2018-08-20
8-K 2018-08-20
8-K 2018-07-19
8-K 2018-06-29
8-K 2018-06-07
8-K 2018-04-23
8-K 2018-04-23
8-K 2018-04-19
8-K 2018-04-12
8-K 2018-03-29
8-K 2018-02-20
8-K 2018-02-19
8-K 2018-01-24

GPC 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-10.1 gpc06302020101.htm
EX-10.2 gpc06302020102.htm
EX-31.1 gpc06302020311.htm
EX-31.2 gpc06302020312.htm
EX-32 gpc0630202032.htm

Genuine Parts Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
151296302012201420172020
Assets, Equity
10.08.06.04.02.00.02012201420172020
Rev, G Profit, Net Income
1.10.60.1-0.3-0.8-1.32012201420172020
Ops, Inv, Fin

gpc-20200630
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                      to                     
Commission file number: 1-5690
  __________________________________________ 
GENUINE PARTS COMPANY
(Exact name of registrant as specified in its charter)
   __________________________________________ 
GA 58-0254510
(State or other jurisdiction of
incorporation or organization)
 (I.R.S. Employer
Identification No.)

2999 WILDWOOD PARKWAY, 30339
ATLANTA,GA
(Address of principal executive offices) (Zip Code)
678-934-5000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading SymbolName of each exchange on which registered
Common Stock, $1.00 par value per shareGPCNew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer   Accelerated filer 
Non-accelerated filer 
  Smaller reporting company 
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  
There were 144,264,189 shares of common stock outstanding as of June 30, 2020.





Table of Contents
Page
   
  
  



Table of Contents
PART I – FINANCIAL INFORMATION
Item 1. Financial Statements
GENUINE PARTS COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
 (in thousands, except share and per share data)June 30, 2020December 31, 2019
Assets
Current assets:
Cash and cash equivalents$983,759  $276,992  
Trade accounts receivable, less allowance for doubtful accounts (2020 – $42,139; 2019 – $35,047)
1,823,357  2,440,252  
Merchandise inventories, net 3,351,751  3,443,876  
Prepaid expenses and other current assets1,132,461  1,063,245  
Current assets of discontinued operations  714,251  
 Total current assets7,291,328  7,938,616  
Goodwill1,771,835  2,293,519  
Other intangible assets, less accumulated amortization1,422,680  1,492,097  
Deferred tax assets76,154  45,921  
Property, plant and equipment, less accumulated depreciation (2020 – $1,275,388; 2019 – $1,199,285)
1,133,990  1,173,688  
Operating lease assets997,146  995,667  
Other assets570,829  457,350  
Noncurrent assets of discontinued operations  248,771  
Total assets$13,263,962  $14,645,629  
Liabilities and equity
Current liabilities:
Trade accounts payable
$3,745,031  $3,948,000  
Current portion of debt
489,028  624,060  
Dividends payable
113,968  110,851  
Other current liabilities
1,620,703  1,493,092  
Current liabilities of discontinued operations  218,117  
Total current liabilities
5,968,730  6,394,120  
Long-term debt
2,727,929  2,802,056  
Operating lease liabilities756,346  756,519  
Pension and other post–retirement benefit liabilities
249,649  249,832  
Deferred tax liabilities
210,003  233,044  
Other long-term liabilities
480,417  445,652  
Noncurrent liabilities of discontinued operations  68,906  
Equity:
Preferred stock, par value – $1 per share; authorized – 10,000,000 shares; none issued
    
Common stock, par value – $1 per share; authorized – 450,000,000 shares; issued and outstanding – 2020 – 144,264,189 shares; 2019 – 145,378,158 shares
144,264  145,378  
Additional paid-in capital
107,819  98,777  
Retained earnings
3,809,564  4,571,860  
Accumulated other comprehensive loss
(1,212,372) (1,141,308) 
Total parent equity
2,849,275  3,674,707  
Noncontrolling interests in subsidiaries
21,613  20,793  
Total equity
2,870,888  3,695,500  
Total liabilities and equity
$13,263,962  $14,645,629  
See accompanying notes to condensed consolidated financial statements.
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GENUINE PARTS COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)

 Three Months Ended June 30,Six Months Ended June 30,
(in thousands, except per share data)2020201920202019
Net sales
$3,823,227  $4,457,931  $7,915,753  $8,717,060  
Cost of goods sold
2,532,740  2,975,227  5,237,088  5,841,558  
Gross profit
1,290,487  1,482,704  2,678,665  2,875,502  
Operating expenses:
Selling, administrative and other expenses
971,589  1,127,296  2,114,286  2,238,715  
Depreciation and amortization
66,733  62,684  133,987  121,301  
Provision for doubtful accounts
11,300  5,513  17,819  9,238  
Restructuring costs25,059    28,041    
Goodwill impairment charge506,721    506,721    
Total operating expenses
1,581,402  1,195,493  2,800,854  2,369,254  
Non-operating (income) expenses:
Interest expense
25,465  23,262  46,430  47,116  
Other
(11,944) (18,250) (24,776) (15,082) 
Total non-operating (income) expenses
13,521  5,012  21,654  32,034  
(Loss) income before income taxes
(304,436) 282,199  (143,843) 474,214  
Income taxes
59,065  72,680  97,312  119,011  
Net (loss) income from continuing operations
(363,501) 209,519  (241,155) 355,203  
Net (loss) income from discontinued operations(200,871) 14,911  (186,682) 29,477  
Net (loss) income$(564,372) $224,430  $(427,837) $384,680  
Dividends declared per common share
$0.7900  $0.7625  $1.5800  $1.5250  
Basic (loss) earnings per share from continuing operations$(2.52) $1.43  $(1.67) $2.43  
Diluted (loss) earnings per share from continuing operations$(2.52) $1.43  $(1.67) $2.42  
Weighted average common shares outstanding
144,262  146,075  144,657  146,029  
Dilutive effect of stock options and non-vested restricted stock awards
  661    684  
Weighted average common shares outstanding – assuming dilution
144,262  146,736  144,657  146,713  
See accompanying notes to condensed consolidated financial statements.
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GENUINE PARTS COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(UNAUDITED)

Three Months Ended June 30,Six Months Ended June 30,
(in thousands, except per share data)2020201920202019
Net (loss) income
$(564,372) $224,430  $(427,837) $384,680  
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustments, net of income taxes in 2020 — $12,114 and $3,445; 2019 — $4,015 and $3,695, respectively
111,599  9  (71,014) 47,973  
Cash flow hedge adjustments, net of income taxes in 2020 — $560 and $6,044; 2019 — $3,711 and $5,626, respectively
1,514  (10,034) (16,342) (15,213) 
Pension and postretirement benefit adjustments, net of income taxes in 2020 — $3,008 and $6,025; 2019 — $1,786 and $3,574, respectively
7,844  4,833  16,292  9,665  
Other comprehensive income (loss), net of income taxes
120,957  (5,192) (71,064) 42,425  
Comprehensive (loss) income
$(443,415) $219,238  $(498,901) $427,105  
See accompanying notes to condensed consolidated financial statements.
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Table of Contents
GENUINE PARTS COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
(UNAUDITED)

Three Months Ended June 30, 2020
(in thousands, except share and per share data)Common Stock SharesCommon Stock AmountAdditional Paid-In CapitalAccumulated Other Comprehensive LossRetained EarningsTotal Parent EquityNon-controlling Interests in SubsidiariesTotal Equity
April 1, 2020144,249,343  $144,249  $103,878  $(1,333,329) $4,487,904  $3,402,702  $20,329  $3,423,031  
Net loss—  —  —  —  (564,372) (564,372) —  (564,372) 
Other comprehensive income, net of tax—  —  —  120,957  —  120,957  —  120,957  
Cash dividend declared, $0.7900 per share
—  —  —  —  (113,968) (113,968) —  (113,968) 
Share-based awards exercised, including tax benefit of $383
14,846  15  (464) —  —  (449) —  (449) 
Share-based compensation—  —  4,405  —  —  4,405  —  4,405  
Noncontrolling interest activities—  —  —  —  —  —  1,284  1,284  
June 30, 2020144,264,189  $144,264  $107,819  $(1,212,372) $3,809,564  $2,849,275  $21,613  $2,870,888  

Six Months Ended June 30, 2020
(in thousands, except share and per share data)Common Stock SharesCommon Stock AmountAdditional Paid-In CapitalAccumulated Other Comprehensive LossRetained EarningsTotal Parent EquityNon-controlling Interests in SubsidiariesTotal Equity
January 1, 2020145,378,158  $145,378  $98,777  $(1,141,308) $4,571,860  $3,674,707  $20,793  $3,695,500  
Net loss—  —  —  —  (427,837) (427,837) —  (427,837) 
Other comprehensive loss, net of tax—  —  —  (71,064) —  (71,064) —  (71,064) 
Cash dividend declared, $1.5800 per share
—  —  —  —  (228,444) (228,444) —  (228,444) 
Share-based awards exercised, including tax benefit of $162
22,475  22  (812) —  —  (790) —  (790) 
Share-based compensation—  —  9,854  —  —  9,854  —  9,854  
Purchase of stock(1,136,444) (1,136) —  —  (94,583) (95,719) —  (95,719) 
Cumulative effect from adoption of ASU 2016-13 (1)
—  —  —  —  (11,432) (11,432) —  (11,432) 
Noncontrolling interest activities—  —  —  —  —  —  820  820  
June 30, 2020144,264,189  $144,264  $107,819  $(1,212,372) $3,809,564  $2,849,275  $21,613  $2,870,888  



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GENUINE PARTS COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (CONTINUED)
(UNAUDITED)

Three Months Ended June 30, 2019
(in thousands, except share and per share data)Common Stock SharesCommon Stock AmountAdditional Paid-In CapitalAccumulated Other Comprehensive LossRetained EarningsTotal Parent EquityNon-controlling Interests in SubsidiariesTotal Equity
April 1, 2019146,063,911$146,064  $77,424  $(1,189,987) $4,517,430  $3,550,931  $21,901  $3,572,832  
Net income—  —  —  —  224,430  224,430  —  224,430  
Other comprehensive loss, net of tax—  —  —  (5,192) —  (5,192) —  (5,192) 
Cash dividend declared, $0.7625 per share
—  —  —  —  (111,380) (111,380) —  (111,380) 
Share-based awards exercised, including tax benefit of $174
14,458  14  (546) —  —  (532) —  (532) 
Share-based compensation—  —  7,071  —  —  7,071  —  7,071  
Noncontrolling interest activities—  —  —  —  —  —  746  746  
June 30, 2019146,078,369  $146,078  $83,949  $(1,195,179) $4,630,480  $3,665,328  $22,647  $3,687,975  


Six Months Ended June 30, 2019
(in thousands, except share and per share data)Common Stock SharesCommon Stock AmountAdditional Paid-In CapitalAccumulated Other Comprehensive LossRetained EarningsTotal Parent EquityNon-controlling Interests in SubsidiariesTotal Equity
January 1, 2019145,936,613  $145,937  $78,380  $(1,115,078) $4,341,212  $3,450,451  $21,540  $3,471,991  
Net income—  —  —  —  384,680  384,680  —  384,680  
Other comprehensive income, net of tax—  —  —  42,425  —  42,425  —  42,425  
Cash dividend declared, $1.5250 per share
—  —  —  —  (222,735) (222,735) —  (222,735) 
Share-based awards exercised, including tax benefit of $3,986
141,756  141  (7,512) —  —  (7,371) —  (7,371)