LKQ Corporation Announces Results for Third Quarter 2013

LKQ Corporation Announces Results for Third Quarter 2013

  *Revenue growth of 28% to a record $1.3 billion
  *Organic revenue growth for parts and services of 11.7%
  *Third quarter 2013 diluted EPS of $0.24
  *Annual guidance updated

CHICAGO, Oct. 31, 2013 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ) today
reported record revenue for the third quarter of 2013 of $1.30 billion, an
increase of 27.7% as compared to $1.02 billion in the third quarter of 2012.
Net income for the third quarter of 2013 was $73 million, an increase of 35.9%
as compared to $54 million for the same period of 2012. Diluted earnings per
share of $0.24 for the third quarter ended September 30, 2013 increased 33.3%
from $0.18 for the third quarter of 2012. The Company noted that the third
quarter of 2013 and 2012 diluted earnings per share figures both included
losses totaling $0.01 per share resulting from restructuring and acquisition
related expenses and the change in fair value of contingent consideration
liabilities.

"Organic revenue growth for parts and services in the quarter of 11.7% remains
strong with North America and Europe increasing 6.2% and 32.9%, respectively,"
stated Robert L. Wagman, President and Chief Executive Officer of LKQ
Corporation. "Our improved operating margin in the quarter was driven by our
ability to leverage our distribution network to improve efficiencies across
our core operating segments," continued Mr. Wagman.

On a nine month year-to-date basis, revenue was $3.75 billion, an increase of
22.6% from $3.06 billion for the comparable period of 2012. Net income for the
first nine months of 2013 was $234 million, as compared to $199 million for
the first nine months of 2012. Diluted earnings per share was $0.77 for the
first nine months of 2013, as compared to $0.66 for the comparable period of
2012.

Total organic revenue growth on a nine month year-to-date basis was 9.9%.
Parts and services revenue grew organically by 11.4%. Acquisition revenue
growth on a nine month year-to-date basis was 13.2%.

Balance Sheet and Liquidity

As of September 30, 2013, LKQ's balance sheet reflected cash and equivalents
of $107 million and outstanding debt of $1.31 billion, including obligations
outstanding under the Company's credit facility of $644 million ($444 million
of term loans and $200 million of revolver borrowings) and senior notes of
$600 million. Total availability under the credit facility at September 30,
2013 was $1.1 billion, and availability under the Company's asset
securitization program was $70 million.

Other Events

On August 6, 2013, the Company announced that it acquired five paint
distributors with a total of 26 locations throughout the United Kingdom. The
acquired distributors include Bee Bee Refinishing Supplies Halstead, JCA
Coatings, Milton Keynes Paint & Equipment, Premier Paints and Sinemaster Motor
Factors.

In addition to the acquisition of five UK based paint distributors, during the
third quarter of 2013 the Company acquired a specialty automotive parts
distributor in the Benelux and a salvage operation in Arizona.

On August 20, 2013, the Company announced it formed a joint venture with
Suncorp Group to develop an alternative auto parts business in Australia and
New Zealand. Suncorp Group is Australia's largest insurer (measured by
premiums) and New Zealand's second largest general insurance company.

"Our acquisition of five UK paint distributors and the forming of our joint
venture in Australia further demonstrates our belief that the value
proposition we offer insurance carriers and the professional automotive repair
industry translates well outside of the North American footprint," stated Mr.
Wagman.

The Company announced that Kevin F. Flynn, a member of the LKQ Board of
Directors, passed away on August 12, 2013. Mr. Flynn was instrumental in the
initial formation of LKQ, facilitated a number of acquisitions and financings,
and served on the Board for more than nine years.

Company Outlook

The Company updated its guidance for 2013.

                                                   
                          Updated Guidance          Prior Guidance
Organic revenue growth     10.0% to 11.5%            8.5% to 10.5%
Net income                 $313 million to $333      $313 million to $333
                           million                   million
Diluted EPS                $1.03 to $1.10            $1.03 to $1.10
Cash flow provided from    Approximately $340        Approximately $300
operations                 million                   million
Capital expenditures       $85 million to $100       $100 million to $115
                           million                   million

Guidance for 2013 is based on current conditions and excludes the impact of
restructuring and acquisition related expenses, losses on debt extinguishment,
and gains or losses (including changes in fair value of contingent
consideration liabilities) and capital spending related to acquisitions or
divestitures. Organic revenue guidance refers only to parts and services
revenue.

Quarterly Conference Call

LKQ will host a conference call and Webcast on October 31, 2013 at 10:00 a.m.
Eastern Time (9:00 a.m. Central Time) with members of senior management to
discuss the Company's results.

To access the investor conference call, please dial (877) 407-0668.
International access to the call may be obtained by dialing (201) 689-8558.
The audio webcast can be accessed via the Company's website at www.lkqcorp.com
in the Investor Relations section.

A replay of the conference call will be available by telephone at (877)
660-6853 or (201) 612-7415 for international calls. The telephone replay will
require you to enter conference ID: 420558 #. An online replay of the audio
webcast will be available on the Company's website. Both formats of replay
will be available through November 22, 2013. Please allow approximately two
hours after the live presentation before attempting to access the replay.

About LKQ Corporation

LKQ Corporation (www.lkqcorp.com) is the largest nationwide provider of
alternative collision replacement parts anda leading provider of recycled
engines and transmissions and remanufactured engines, all in connection with
the repair of automobiles and other vehicles. LKQ also has operations in the
United Kingdom, Canada, Mexico, Taiwan, the Netherlands, Belgium, France,
Guatemala and Costa Rica. LKQ operates more than 500 facilities, offering its
customers a broad range of replacement systems, components and parts to repair
automobiles and light, medium and heavy-duty trucks.

Forward Looking Statements

The statements in this press release that are not historical in nature are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These include statements regarding our
expectations, beliefs, hopes, intentions or strategies. Forward-looking
statements involve risks and uncertainties, some of which are not currently
known to us. Actual events or results may differ materially from those
expressed or implied in the forward looking statements as a result of various
factors.

These factors include:

  *uncertainty as to changes in North American and European general economic
    activity and the impact of these changes on the demand for our products
    and our ability to obtain financing for operations;
  *fluctuations in the pricing of new original equipment manufacturer ("OEM")
    replacement products;
  *the availability and cost of our inventory;
  *variations in the number of vehicles sold, vehicle accident rates, miles
    driven and the age profile of vehicles in accidents;
  *changes in state or federal laws or regulations affecting our business;
  *changes in the types of replacement parts that insurance carriers will
    accept in the repair process;
  *inaccuracies in the data relating to industry size published by
    independent sources upon which we rely;
  *changes in the level of acceptance and promotion of alternative automotive
    parts by insurance companies and auto repairers;
  *changes in the demand for our products and the supply of our inventory due
    to severity of weather and seasonality of weather patterns;
  *increasing competition in the automotive parts industry;
  *uncertainty as to the impact on our industry of any terrorist attacks or
    responses to terrorist attacks;
  *our ability to satisfy our debt obligations and to operate within the
    limitations imposed by financing agreements;
  *declines in the values of our assets;
  *fluctuations in fuel and other commodity prices;
  *fluctuations in the prices of scrap metal and other metals;
  *our ability to develop and implement the operational and financial systems
    needed to manage our operations;
  *our ability to identify sufficient acquisition candidates at reasonable
    prices to maintain our growth objectives;
  *our ability to integrate, realize expected synergies and successfully
    operate acquired companies and any companies acquired in the future and
    the risks associated with these companies;
  *our ability to obtain financing on acceptable terms to finance our growth;
  *claims by OEMs or others that attempt to restrict or eliminate the sale of
    alternative automotive products;
  *termination of business relationships with insurance companies that
    promote the use of our products;
  *product liability claims by the end users of our products or claims by
    other parties who we have promised to indemnify for product liability
    matters;
  *costs associated with recalls of the products we sell;
  *currency fluctuations in the U.S. dollar versus other currencies and
    currency fluctuations in the pound sterling and euro versus other
    currencies;
  *periodic adjustments to estimated contingent purchase price amounts;
  *instability in regions in which we operate that can affect our supply of
    certain products;
  *interruptions, outages or breaches of our operational systems, security
    systems, or infrastructure as a result of attacks on, or malfunctions of,
    our systems; and
  *other risks that are described in our Form 10-K filed March 1, 2013 and in
    other reports filed by us from time to time with the Securities and
    Exchange Commission.

You should not place undue reliance on these forward-looking statements. All
of these forward-looking statements are based on our expectations as of the
date of this press release. We undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.

LKQ CORPORATION AND SUBSIDIARIES
Unaudited Consolidated Condensed Statements of Income
( In thousands, except per share data )
                                                             
                     Three Months Ended           Nine Months Ended
                      September 30,                September 30,
                     2013           2012          2013          2012
                                                             
Revenue               $1,298,094   $1,016,707  $ 3,745,839  $ 3,055,015
                                                             
Cost of goods sold    780,187       607,002      2,216,110    1,775,996
^(1)
                                                             
Gross margin          517,907       409,705      1,529,729    1,279,019
                                                             
Facility and          108,349       86,739       311,480      254,039
warehouse expenses
                                                             
Distribution expenses 109,593       93,652       320,033      277,391
                                                             
Selling, general and
administrative        153,546       121,049      436,614      364,461
expenses
                                                             
Restructuring and
acquisition related   2,206         116          7,391        2,558
expenses
                                                             
Depreciation and      20,818        16,715       57,850       46,961
amortization
                                                             
Operating income      123,395       91,434       396,361      333,609
                                                             
Other expense                                                 
(income):
Interest expense, net 15,200        7,964        36,287       22,687
Loss on debt          --           --          2,795        --
extinguishment
Change in fair value
of contingent         712           1,892        1,765        1,787
consideration
liabilities
Other income, net     (1,562)       (1,674)      (1,737)      (3,413)
                                                             
Total other expense,  14,350        8,182        39,110       21,061
net
                                                             
Income before
provision for income  109,045       83,252       357,251      312,548
taxes
                                                             
Provision for income  35,600        29,204       123,492      113,511
taxes
                                                             
Net income            $73,445      $54,048     $233,759    $199,037
                                                             
                                                             
Earnings per share:                                           
Basic                 $0.24        $0.18       $0.78       $0.67
                                                             
Diluted               $0.24        $0.18       $0.77       $0.66
                                                             
                                                             
Weighted average
common shares                                                 
outstanding:
Basic                 300,223       296,437      299,213      295,338
                                                             
Diluted               304,685       301,172      303,771      300,226
                                                             
(1) Cost of goods sold for the three and nine months ended September 30, 2012
included gains of $0.5 million and $17.2 million, respectively, resulting from
certain settlements of a class action lawsuit against several of our
suppliers.


LKQ CORPORATION AND SUBSIDIARIES
Unaudited Consolidated Condensed Balance Sheets
( In thousands, except share and per share data )
                                                           
                                                           
                                         September 30, 2013 December 31, 2012
Assets                                                      
                                                           
Current Assets:                                             
Cash and equivalents                      $107,337         $59,770
Receivables, net                          438,800           311,808
Inventory                                 1,018,169         900,803
Deferred income taxes                     53,129            53,485
Prepaid income taxes                      13,825            29,537
Prepaid expenses and other current assets 44,391            28,948
Total Current Assets                      1,675,651         1,384,351
                                                           
Property and Equipment, net               531,897           494,379
Intangibles                               2,075,345         1,796,999
Other Assets                              78,166            47,727
                                                           
Total Assets                              $4,361,059       $3,723,456
                                                           
Liabilities and Stockholders' Equity                        
                                                           
Current Liabilities:                                        
Accounts payable                          $284,900         $219,335
Accrued expenses                          213,007           134,822
Income taxes payable                      16,473            2,748
Contingent consideration liabilities      49,275            42,255
Other current liabilities                 17,735            17,068
Current portion of long-term obligations 61,123            71,716
                                                           
Total Current Liabilities                 642,513           487,944
                                                           
Long-Term Obligations, Excluding Current  1,250,932         1,046,762
Portion
Deferred Income Taxes                     118,693           102,275
Contingent Consideration Liabilities      5,210             47,754
Other Noncurrent Liabilities              89,605            74,627
                                                           
Commitments and Contingencies                               
                                                           
Stockholders' Equity:                                       
Common stock, $0.01 par value,
1,000,000,000 and 500,000,000 shares
authorized, 300,548,111 and 297,810,896   3,005             2,978
shares issued and outstanding at
September 30, 2013 and December 31, 2012,
respectively
Additional paid-in capital                996,248           950,338
Retained earnings                         1,243,778         1,010,019
Accumulated other comprehensive income   11,075            759
                                                           
Total Stockholders' Equity                2,254,106         1,964,094
                                                           
Total Liabilities and Stockholders'       $4,361,059       $3,723,456
Equity


LKQ CORPORATION AND SUBSIDIARIES
Unaudited Consolidated Condensed Statements of Cash Flows
( In thousands )
                                                        
                                                        Nine Months Ended
                                                         September 30,
                                                        2013       2012
                                                                  
CASH FLOWS FROM OPERATING ACTIVITIES:                              
Net income                                               $233,759 $ 199,037
Adjustments to reconcile net income to net cash provided           
by operating activities:
Depreciation and amortization                            61,868    51,574
Stock-based compensation expense                         16,292    11,976
Excess tax benefit from stock-based payments             (15,998)  (11,071)
Other                                                    7,424     3,961
Changes in operating assets and liabilities, net of                
effects from acquisitions:
Receivables                                              (35,287)  (12,394)
Inventory                                                (18,207)  (47,669)
Prepaid income taxes/income taxes payable                40,551    2,688
Accounts payable                                         1,641     (7,892)
Other operating assets and liabilities                   48,886    (8,138)
                                                                  
Net cash provided by operating activities                340,929   182,072
                                                                  
CASH FLOWS FROM INVESTING ACTIVITIES:                              
Purchases of property and equipment                      (61,126)  (60,636)
Proceeds from sales of property and equipment            1,459     692
Investment in unconsolidated subsidiary                  (9,136)   --
Acquisitions, net of cash acquired                       (395,974) (133,123)
                                                                  
Net cash used in investing activities                    (464,777) (193,067)
                                                                  
CASH FLOWS FROM FINANCING ACTIVITIES:                              
Proceeds from exercise of stock options                  13,647    14,187
Excess tax benefit from stock-based payments             15,998    11,071
Debt issuance costs                                      (16,912)  (175)
Net borrowings of long-term obligations                  156,586   6,197
                                                                  
Net cash provided by financing activities                169,319   31,280
                                                                  
Effect of exchange rate changes on cash and equivalents  2,096     682
                                                                  
Net increase in cash and equivalents                     47,567    20,967
                                                                  
Cash and equivalents, beginning of period                59,770    48,247
                                                                  
Cash and equivalents, end of period                      $107,337 $69,214


LKQ CORPORATION AND SUBSIDIARIES
Unaudited Supplementary Data
( In thousands, except per share data )
                                                                
                   Three Months Ended September 30,
Operating           2013                 2012                        
Highlights
                               % of             % of
                                 Revenue           Revenue Change     % Change
                                                                
Revenue             $1,298,094 100.0%  $        100.0%  $281,387 27.7%
                                         1,016,707
                                                                
Cost of goods sold  780,187     60.1%   607,002  59.7%   173,185   28.5%
                                                                
Gross margin        517,907     39.9%   409,705  40.3%   108,202   26.4%
                                                                
Facility and        108,349     8.3%    86,739   8.5%    21,610    24.9%
warehouse expenses
                                                                
Distribution        109,593     8.4%    93,652   9.2%    15,941    17.0%
expenses
                                                                
Selling, general
and administrative  153,546     11.8%   121,049  11.9%   32,497    26.8%
expenses
                                                                
Restructuring and
acquisition related 2,206       0.2%    116      0.0%    2,090     n/m
expenses
                                                                
Depreciation and    20,818      1.6%    16,715   1.6%    4,103     24.5%
amortization
                                                                
Operating income    123,395     9.5%    91,434   9.0%    31,961    35.0%
                                                                
Other expense                                                    
(income):
Interest expense,   15,200      1.2%    7,964    0.8%    7,236     90.9%
net
Change in fair
value of contingent 712         0.1%    1,892    0.2%    (1,180)   (62.4%)
consideration
liabilities
Other income, net   (1,562)     (0.1%)  (1,674)  (0.2%)  112       6.7%
                                                                
Total other         14,350      1.1%    8,182    0.8%    6,168     75.4%
expense, net
                                                                
Income before
provision for       109,045     8.4%    83,252   8.2%    25,793    31.0%
income taxes
                                                                
Provision for       35,600      2.7%    29,204   2.9%    6,396     21.9%
income taxes
                                                                
Net income          $73,445    5.7%    $54,048 5.3%    $19,397  35.9%
                                                                
Earnings per share:                                              
Basic               $0.24             $0.18          $0.06    33.3%
                                                                
Diluted             $0.24             $0.18          $0.06    33.3%
                                                                
Weighted average
common shares                                                    
outstanding:
Basic               300,223            296,437         3,786     1.3%
                                                                
Diluted             304,685            301,172         3,513     1.2%


LKQ CORPORATION AND SUBSIDIARIES
Unaudited Supplementary Data
( In thousands, except per share data )
                                                                  
                  Nine Months Ended September 30,
Operating          2013                 2012                           
Highlights
                              % of                % of               %
                                Revenue              Revenue Change     Change
                                                                  
Revenue            $3,745,839 100.0%  $3,055,015 100.0%  $690,824 22.6%
                                                                  
Cost of goods sold 2,216,110   59.2%   1,775,996   58.1%   440,114   24.8%
^(1)
                                                                  
Gross margin       1,529,729   40.8%   1,279,019   41.9%   250,710   19.6%
                                                                  
Facility and       311,480     8.3%    254,039     8.3%    57,441    22.6%
warehouse expenses
                                                                  
Distribution       320,033     8.5%    277,391     9.1%    42,642    15.4%
expenses
                                                                  
Selling, general
and administrative 436,614     11.7%   364,461     11.9%   72,153    19.8%
expenses
                                                                  
Restructuring and
acquisition        7,391       0.2%    2,558       0.1%    4,833     188.9%
related expenses
                                                                  
Depreciation and   57,850      1.5%    46,961      1.5%    10,889    23.2%
amortization
                                                                  
Operating income   396,361     10.6%   333,609     10.9%   62,752    18.8%
                                                                  
Other expense                                                      
(income):
Interest expense,  36,287      1.0%    22,687      0.7%    13,600    59.9%
net
Loss on debt       2,795       0.1%    --         0.0%    2,795     n/m
extinguishment
Change in fair
value of
contingent         1,765       0.0%    1,787       0.1%    (22)      (1.2%)
consideration
liabilities
Other income, net  (1,737)     (0.0%)  (3,413)     (0.1%)  1,676     49.1%
                                                                  
Total other        39,110      1.0%    21,061      0.7%    18,049    85.7%
expense, net
                                                                  
Income before
provision for      357,251     9.5%    312,548     10.2%   44,703    14.3%
income taxes
                                                                  
Provision for      123,492     3.3%    113,511     3.7%    9,981     8.8%
income taxes
                                                                  
Net income         $233,759   6.2%    $199,037   6.5%    $34,722  17.4%
                                                                  
Earnings per                                                       
share:
Basic              $0.78             $0.67             $0.11    16.4%
                                                                  
Diluted            $0.77             $0.66             $0.11    16.7%
                                                                  
Weighted average
common shares                                                      
outstanding:
Basic              299,213            295,338            3,875     1.3%
                                                                  
Diluted            303,771            300,226            3,545     1.2%
                                                                  
(1) Cost of goods sold for the nine months ended September 30, 2012 included
gains of $17.2 million resulting from certain settlements of a class action
lawsuit against several of our suppliers.

                                                                         
The following unaudited table reconciles net income to EBITDA:          
                                                       
                      Three Months Ended      Nine Months Ended
                       September 30,           September 30,
                      2013        2012        2013        2012
                      (In thousands)
                                                       
Net income             $73,445   $54,048   $ 233,759  $ 199,037
Depreciation and       22,157     18,128     61,868     51,574
amortization
Interest expense, net  15,200     7,964      36,287     22,687
Loss on debt           --        --        2,795      --
extinguishment ^(1)
Provision for income   35,600     29,204     123,492    113,511
taxes
                                                       
                                                       
Earnings before
interest, taxes,       $146,402  $ 109,344  $ 458,201  $ 386,809
depreciation and
amortization (EBITDA)
                                                       
EBITDA as a           11.3%       10.8%       12.2%       12.7%
percentage of revenue
                                                       
(1) Loss on debt extinguishment is considered a component of interest
in calculating EBITDA, as the write-off of debt issuance costs is         
similar to the treatment of debt issuance cost amortization.
                                                       
We provide a reconciliation of Net Income to EBITDA as we believe it
offers investors, securities analysts and other interested parties
useful information regarding our results of operations because it
assists in analyzing our performance and the value of our business.
EBITDA provides insight into our profitability trends, and allows
management and investors to analyze our operating results with and
without the impact of depreciation, amortization,interest and income
tax expense. We believe EBITDA is used by securities analysts,
investors, and other interested parties in evaluating companies, many     
of which present EBITDA when reporting their results.EBITDA should
not be construed as an alternative to operating income,net income or
net cash provided by (used in) operating activities, as determined in
accordance withaccounting principles generally accepted in the United
States. In addition, not all companies that report EBITDA information
calculate EBITDA in the same manner as we do and, accordingly,
ourcalculation is not necessarily comparable to similarly named
measures of other companies andmay not be an appropriate measure for
performance relative to other companies.

                                                                            
The following unaudited tables compare certain revenue categories:           
                                                                
                             Three Months Ended                   
                              September 30,
                             2013          2012         Change     % Change
                             (In thousands)                       
                                                                
Included in Unaudited                      
Consolidated Condensed
Statements of Income of LKQ                            
Corporation
                                                                
North America                 $773,986    $699,468   $74,518  10.7%
Europe                        369,350      181,159     188,191   103.9%
Parts and services            1,143,336    880,627     262,709   29.8%
Other                        154,758      136,080     18,678    13.7%
Total                         $1,298,094  $1,016,707 $281,387 27.7%
                                                                
Revenue changes by category for the three months ended September 30, 2013
vs. 2012:
                                                                
                                                                 
                             Revenue Change Attributable to:       
                                                        Foreign
                              Acquisition   Organic      Exchange   % Change
                                                                
North America                 4.7%          6.2%         (0.3%)     10.7%
Europe                        72.9%         32.9%        (1.9%)     103.9%
Parts and services            18.7%         11.7%        (0.6%)     29.8%
Other                        8.9%          5.0%         (0.1%)     13.7%
Total                         17.4%         10.8%        (0.5%)     27.7%
                                                                
                                                                
                             Nine Months Ended                    
                              September 30,
                             2013          2012         Change     % Change
                             (In thousands)                       
                                                                
Included in Unaudited                      
Consolidated Condensed
Statements of Income of LKQ                            
Corporation
                                                                
North America                 $2,380,817  $2,136,785 $244,032 11.4%
Europe                        878,873      506,471     372,402   73.5%
Parts and services            3,259,690    2,643,256    616,434    23.3%
Other                        486,149      411,759      74,390     18.1%
Total                         $3,745,839  $3,055,015 $690,824 22.6%
                                                                
Revenue changes by category for the nine months ended September 30, 2013 vs.
2012:
                                                                 
                             Revenue Change Attributable to:       
                                                        Foreign
                              Acquisition   Organic      Exchange   % Change
                                                                
North America                 5.5%          6.0%         (0.1%)     11.4%
Europe                        41.4%         34.2%        (2.1%)     73.5%
Parts and services            12.4%         11.4%        (0.5%)     23.3%
Other                        18.2%         0.0%         (0.1%)     18.1%
Total                         13.2%         9.9%         (0.4%)     22.6%


The following unaudited table compares our revenue and EBITDA by reportable
segment:
                                                            
                 Three Months Ended             Nine Months Ended
                  September 30,                  September 30,
                 2013            2012           2013           2012
                 (In thousands)
                                                            
Revenue                                                      
North America     $928,307      $835,324     $2,865,613   $2,547,743
Europe            369,787        181,383       880,226       507,272
Total revenue     $1,298,094    $1,016,707   $3,745,839   $3,055,015
                                                            
EBITDA                                                       
North America     $108,314      $89,265      $362,281     $331,140
^(1)
Europe ^(2) (3)   38,088         20,079        95,920        55,669
Total EBITDA      $146,402      $109,344     $458,201     $386,809
                                                            
                                                            
^(1) For the three and nine months ended September 30, 2012, North America
EBITDA included gains of $0.5 million and $17.2 million, respectively,
resulting from certain settlements of a class action lawsuit against several
of our suppliers.
                                                            
^(2) Included within EBITDA of our European segment are losses of $0.8 million
and $2.1 million during the three months ended September 30, 2013 and 2012,
respectively, from the change in fair value of contingent consideration
liabilities, primarily related to our 2011 ECP acquisition.During the nine
month periods ended September 30, 2013 and 2012, our European segment
recognized losses of $2.7 million and $1.9 million, respectively, related to
the remeasurement of these contingent consideration liabilities.
                                                            
^(3) For the three and nine months ended September 30, 2013, Europe EBITDA
included restructuring and acquisition related expenses of $1.6 million and
$5.3 million, respectively, related primarily to the acquisition of Sator
Beheer and five automotive paint distribution businesses in the U.K.

CONTACT: Joseph P. Boutross-Director, Investor Relations
         LKQ Corporation
         (312) 621-2793
         jpboutross@lkqcorp.com

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