LKQ Corporation operates as a distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories worldwide. The company distributes various products to collision and mechanical repair shops, including aftermarket collision and mechanical products; recycled collision and mechanical products; and refurbished collision products, such as wheels, bumper covers and lights, and remanufactured engines. Collectively, the company refers to these products as alternative parts because they are not new original equipment manufacturer (OEM) products. The company is a major provider of alternative vehicle collision replacement products and a major provider of alternative vehicle mechanical replacement products, with its sales, processing, and distribution facilities reaching most major markets in the U.S. and Canada. The company is also a major provider of alternative vehicle replacement and maintenance products in the United Kingdom and the Benelux region (Belgium, the Netherlands, and Luxembourg) of continental Europe. In addition to the company’s wholesale operations, it operates self service retail facilities across the U.S. that sell recycled automotive products from end-of-life-vehicles. With its acquisition of Keystone Automotive Holdings, Inc. (Keystone Specialty), the company is also a major distributor of specialty vehicle products and accessories reaching most major markets in the U.S. and Canada. Segments The company is organized into four operating segments: Wholesale - North America; Europe; Specialty; and Self Service. The company aggregates its Wholesale - North America and Self Service operating segments into one segment, North America, resulting in three segments: North America, Europe and Specialty. North America segment Wholesale Automotive Products The company’s wholesale automobile product operations in North America are organized by geographic regions serving the U.S. and Canada that sell all five product types (aftermarket, recycled, remanufactured, refurbished and OEM parts) to professional collision and mechanical automobile repair businesses. The company’s aftermarket product operations might include a combination of sales, warehousing and distribution functions, and in many cases would be co-located with the company’s refurbishing operations. The company’s wholesale recycling operations typically have processing, sales, distribution and administrative operations on site, indoor and outdoor storage areas; and include a large warehouse with multiple bays to dismantle vehicles. The company’s engine remanufacturing operations are conducted primarily at its facilities in Mexico, as well as the U.S., with sales, warehousing and distribution operations in the U.S. As of December 31, 2015, the company’s North American wholesale operations conducted business from 348 facilities. Wholesale Aftermarket Products The company’s 2015 sales included approximately 110,000 SKUs of aftermarket automotive products, excluding refurbished products, for the most common models of domestic and foreign automobiles and light trucks, primarily for the repair of vehicles 3 to 12 years old. The company’s principal aftermarket product types consist of those most frequently damaged in collisions, including bumper covers, automotive body panels and lights. The company also distributes paint and other materials used in repairing damaged vehicles, including sandpaper, abrasives, masking products and plastic filler. The paint and other materials distributed by the company are purchased from various suppliers in the U.S. and Canada. The company expanded its wholesale aftermarket operations through the acquisition of PartsChannel, Inc. (Parts Channel) in July 2015. At the time of acquisition, Parts Channel was a major domestic distributor of aftermarket products, including collision replacement products. Platinum Plus is the company’s exclusive product line offered in the Keystone brand of aftermarket products. The company also developed a product line called ‘Value Line’ for more value
lkq corp (LKQ:NASDAQ GS)
500 West Madison Street
Chicago, IL 60661
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