GPC 2017 Annual Report

ITEM 6. SELECTED FINANCIAL DATA . The following table sets forth certain selected historical financial and operating data of the Company as of the dates and for the periods indicated. The following selected financial data are qualified by reference to, and should be read in conjunction with, the consolidated financial statements, related notes and other financial information beginning on page F-1, as well as in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this report. Year Ended December 31, 2017 2016 2015 2014 2013 (In thousands, except per share data) Net sales . . . . . . . . . . . . . . . . . . . . . . . $16,308,801 $15,339,713 $15,280,044 $15,341,647 $14,077,843 Cost of goods sold . . . . . . . . . . . . . . . . 11,402,403 10,740,106 10,724,192 10,747,886 9,857,923 Operating and non-operating expenses, net . . . . . . . . . . . . . . . . . . 3,897,130 3,525,267 3,432,171 3,476,022 3,175,616 Income before taxes . . . . . . . . . . . . . . 1,009,268 1,074,340 1,123,681 1,117,739 1,044,304 Income taxes . . . . . . . . . . . . . . . . . . . . 392,511 387,100 418,009 406,453 359,345 Net income . . . . . . . . . . . . . . . . . . . . . $ 616,757 $ 687,240 $ 705,672 $ 711,286 $ 684,959 Weighted average common shares outstanding during year — assuming dilution . . . . . . . . . . . . . . 147,701 149,804 152,496 154,375 155,714 Per common share: Diluted net income . . . . . . . . . . . . . $ 4.18 $ 4.59 $ 4.63 $ 4.61 $ 4.40 Dividends declared . . . . . . . . . . . . . 2.70 2.63 2.46 2.30 2.15 December 31 closing stock price . . 95.01 95.54 85.89 106.57 83.19 Total debt, less current maturities . . . . 2,550,020 550,000 250,000 500,000 500,000 Total equity . . . . . . . . . . . . . . . . . . . . . 3,464,156 3,207,356 3,159,242 3,312,364 3,358,768 Total assets . . . . . . . . . . . . . . . . . . . . . $12,412,381 $ 8,859,400 $ 8,144,771 $ 8,246,238 $ 7,680,297 In 2017, the Company incurred $49.1 million ($28.0 million after-tax) in transaction-related costs primarily associated with the acquisition of Alliance Automotive Group. In addition, the Company recorded a $51.0 million tax expense related to the transition tax associated with foreign earnings and the revaluation of deferred tax assets and liabilities as required by the Tax Cuts and Jobs Act of 2017. The following table sets forth a reconciliation of net income and net income per common share to adjusted net income and adjusted diluted net income per common share to account for the impact of these adjustments. The Company does not, nor does it suggest investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, GAAP financial information. The Company believes that the presentation of adjusted net income and adjusted net income per common share provides meaningful supplemental information to both management and investors that is indicative of the Company’s core operations. Year Ended December 31, 2017 2016 (In thousands, except per share data) GAAP net income . . . . . . . . . . . . . . . . . . . . . . . . $616,757 $687,240 Diluted net income per common share . . . . . . . . $ 4.18 $ 4.59 Add after-tax adjustments: . . . . . . . . . . . . . . . . . Transition tax and deferred tax revaluation . . . . . . . . . . . . . . . . . . . . . . . 50,986 — Transaction-related costs . . . . . . . . . . . . . . 28,039 — Adjusted net income . . . . . . . . . . . . . . . . . . . . . . $695,782 $687,240 Adjusted diluted net income per common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4.71 $ 4.59 20

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