Genuine Parts Co. Files Q3 2024 10-Q
Ticker: GPC · Form: 10-Q · Filed: Oct 22, 2024 · CIK: 40987
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
GPC filed its Q3 2024 10-Q. Financials are in.
AI Summary
Genuine Parts Company (GPC) filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Key financial data and operational details for this period are presented, reflecting the company's performance and financial position.
Why It Matters
This filing provides investors with an update on Genuine Parts Company's financial performance and operational status for the third quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Players & Entities
- GENUINE PARTS CO (company) — Filer
- 20240930 (date) — Period of Report
- 20241022 (date) — Filing Date
- ATLANTA (location) — Business Address City
- GA (location) — Business Address State
- 30339 (postal_code) — Business Address Zip
- 6789345000 (phone_number) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The 10-Q filing is for the period ending September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 22, 2024.
What is the company's primary business classification?
The company is classified under Standard Industrial Classification 5013: Wholesale-Motor Vehicle Supplies & New Parts.
Where is Genuine Parts Company headquartered?
Genuine Parts Company's business address is in Atlanta, GA.
What is the fiscal year end for Genuine Parts Company?
The fiscal year end for Genuine Parts Company is December 31.
Filing Stats: 4,616 words · 18 min read · ~15 pages · Grade level 17.5 · Accepted 2024-10-22 13:20:28
Key Financial Figures
- $1.00 — ange on which registered Common Stock, $1.00 par value per share GPC New York Stock
Filing Documents
- gpc-20240930.htm (10-Q) — 1138KB
- gpc_09302024x311.htm (EX-31.1) — 16KB
- gpc_09302024x312.htm (EX-31.2) — 16KB
- gpc_09302024x32.htm (EX-32) — 7KB
- 0000040987-24-000210.txt ( ) — 5709KB
- gpc-20240930.xsd (EX-101.SCH) — 31KB
- gpc-20240930_cal.xml (EX-101.CAL) — 72KB
- gpc-20240930_def.xml (EX-101.DEF) — 153KB
- gpc-20240930_lab.xml (EX-101.LAB) — 502KB
- gpc-20240930_pre.xml (EX-101.PRE) — 337KB
- gpc-20240930_htm.xml (XML) — 759KB
Financial Statements
Financial Statements 2 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Income 3 Condensed Consolidated Statements of Comprehensive Income 4 Condensed Consolidated Statements of Equity 5 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.
Controls and Procedures
Controls and Procedures 27 PART II Item 1.
Legal Proceedings
Legal Proceedings 29 Item 1A.
Risk Factors
Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 5. Other Information 29 Item 6. Exhibits 30
Signatures
Signatures 31 1 Table of Contents
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements GENUINE PARTS COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share and per share data) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 1,078,118 $ 1,102,007 Trade accounts receivable, less allowance for doubtful accounts (2024 – $ 64,138 ; 2023 – $ 56,608 ) 2,380,518 2,223,431 Merchandise inventories, net 5,527,034 4,676,686 Prepaid expenses and other current assets 1,723,832 1,603,728 Total current assets 10,709,502 9,605,852 Goodwill 3,034,339 2,734,681 Other intangible assets, less accumulated amortization 1,915,832 1,792,913 Property, plant and equipment, less accumulated depreciation (2024 – $ 1,783,163 ; 2023 – $ 1,592,658 ) 1,909,522 1,616,785 Operating lease assets 1,665,818 1,268,742 Other assets 1,024,165 949,481 Total assets $ 20,259,178 $ 17,968,454 Liabilities and equity Current liabilities: Trade accounts payable $ 6,100,534 $ 5,499,536 Current portion of debt 810,982 355,298 Dividends payable 139,111 132,635 Other current liabilities 2,072,781 1,839,640 Total current liabilities 9,123,408 7,827,109 Long-term debt 3,806,950 3,550,930 Operating lease liabilities 1,372,283 979,938 Pension and other post–retirement benefit liabilities 224,019 219,644 Deferred tax liabilities 483,262 437,674 Other long-term liabilities 539,102 536,174 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 – 2024 – 139,078,065 shares; 2023 – 139,567,071 shares 139,078 139,567 Additional paid-in capital 193,491 173,025 Accumulated other comprehensive loss ( 942,852 ) ( 976,872 ) Retained earnings 5,306,755 5,065,327 Total parent equity 4,696,472 4,401,047 Noncontrolling interests in subsidiaries 13,682 15,938 Total equity 4,710,154 4,416,985 Total liabilities and equity $ 20