LKQ CORP, 10-K filed on 2/19/2026
Annual Report
v3.25.4
Document and Entity Information - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2025
Feb. 13, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Document Transition Report false    
Entity File Number 001-42002    
Entity Registrant Name LKQ CORPORATION    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 36-4215970    
Entity Address, Address Line One 5846 Crossings Boulevard    
Entity Address, City or Town Antioch    
Entity Address, State or Province TN    
Entity Address, Postal Zip Code 37013    
City Area Code 615    
Local Phone Number 781-5200    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Public Float     $ 9.5
Entity Common Stock, Shares Outstanding   255,132,267  
Entity Central Index Key 0001065696    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Current Fiscal Year End Date --12-31    
Amendment Flag false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Document Information [Line Items]      
Title of 12(b) Security Common Stock, par value $.01 per share    
Trading Symbol LKQ    
Security Exchange Name NASDAQ    
Euro Notes 2031      
Document Information [Line Items]      
Title of 12(b) Security 4.125% Notes due 2031    
Trading Symbol LKQ31    
Security Exchange Name NASDAQ    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Auditor [Line Items]  
Auditor Location Chicago, Illinois
Auditor Firm ID 34
Auditor Name DELOITTE & TOUCHE LLP
v3.25.4
Consolidated Statements of Income Statement - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues $ 13,651 $ 13,823 $ 13,269
Cost of goods sold 8,386 8,439 7,916
Gross margin 5,265 5,384 5,353
Selling, general and administrative expenses 3,813 3,758 3,697
Restructuring and transaction related expenses 42 135 65
Impairment of goodwill 52 0 0
Depreciation and amortization 365 346 267
Operating income 993 1,145 1,324
Other expense (income):      
Interest expense 224 238 191
Interest income and other income, net (31) (19) (41)
Total other expense, net 193 219 101
Income from continuing operations before provision for income taxes 800 926 1,223
Effective tax rate 204 265 304
Equity in earnings of unconsolidated subsidiaries 1 8 15
Income from continuing operations 597 669 934
Net income from discontinued operations 11 24 4
Net income 608 693 938
Less: net income attributable to continuing noncontrolling interest 1 3 2
Net income attributable to LKQ stockholders $ 607 $ 690 $ 936
Basic earnings per share:      
Income from continuing operations $ 2.32 $ 2.54 $ 3.49
Net income from discontinued operations 0.04 0.09 0.02
Net income 2.36 2.63 3.51
Less: net income attributable to continuing noncontrolling interest 0 0.01 0.01
Net income attributable to LKQ stockholders 2.36 2.62 3.50
Diluted earnings per share:      
Income from continuing operations 2.31 2.54 3.48
Net income from discontinued operations 0.04 0.09 0.02
Net income 2.35 2.63 3.50
Less: net income attributable to continuing noncontrolling interest 0 0.01 0.01
Net income attributable to LKQ stockholders $ 2.35 $ 2.62 $ 3.49
Forward Contracts      
Other expense (income):      
Gains on foreign exchange contracts - acquisition related (1) $ 0 $ 0 $ (49)
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net income $ 608 $ 693 $ 938
Less: net income attributable to continuing noncontrolling interest 1 3 2
Net income attributable to LKQ stockholders 607 690 936
Other comprehensive income (loss):      
Foreign currency translation, net of tax 347 (168) 90
Net change in unrealized gains/losses on cash flow hedges, net of tax 2 2 (11)
Net change in unrealized gains/losses on pension plans, net of tax 11 (7) (5)
Other comprehensive (loss) income from unconsolidated subsidiaries 0 (4) 9
Other comprehensive income (loss) 360 (177) 83
Comprehensive income 968 516 1,021
Less: comprehensive income attributable to continuing noncontrolling interest 1 3 2
Comprehensive income attributable to LKQ stockholders $ 967 $ 513 $ 1,019
v3.25.4
Consolidated Balance Sheets - USD ($)
shares in Millions, $ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 319 $ 234
Receivables, net of allowance for credit losses 1,204 1,113
Inventories 3,426 3,183
Prepaid expenses and other current assets 299 328
Current assets of discontinued operations 0 48
Total current assets 5,248 4,906
Property, plant and equipment, net 1,452 1,409
Operating lease assets, net 1,332 1,256
Goodwill 5,414 5,174
Other intangibles, net 1,072 1,150
Equity method investments 170 169
Other noncurrent assets 449 376
Noncurrent assets of discontinued operations 0 515
Total assets 15,137 14,955
Current liabilities:    
Accounts payable 2,108 1,797
Accrued expenses:    
Accrued payroll-related liabilities 190 207
Refund liability 122 125
Other accrued expenses 344 346
Current portion of operating lease liabilities 253 222
Current portion of long-term obligations 32 38
Other current liabilities 88 92
Current liabilities of discontinued operations 0 35
Total current liabilities 3,137 2,862
Long-term operating lease liabilities, excluding current portion 1,145 1,093
Long-term obligations, excluding current portion 3,631 4,124
Deferred income taxes 331 386
Other noncurrent liabilities 332 341
Noncurrent liabilities of discontinued operations $ 0 $ 117
Common Stock, Par or Stated Value Per Share $ 0.01  
Common Stock, Shares Authorized 1,000.0  
Common Stock, Shares, Issued 324.0 323.6
Common Stock, Shares, Outstanding 255.0 259.1
Stockholders' equity:    
Common stock, $0.01 par value, 1,000.0 shares authorized, 324.0 shares issued and 255.0 shares outstanding at December 31, 2025; 323.6 shares issued and 259.1 shares outstanding at December 31, 2024 $ 3 $ 3
Additional paid-in capital 1,581 1,556
Retained earnings 7,958 7,662
Accumulated other comprehensive loss $ (57) $ (417)
Treasury Stock, Common, Shares 69.0 64.5
Treasury stock, at cost; 69.0 shares at December 31, 2025 and 64.5 shares at December 31, 2024 $ (2,948) $ (2,787)
Total Company stockholders' equity 6,537 6,017
Noncontrolling interest 24 15
Total stockholders' equity 6,561 6,032
Total liabilities and stockholders' equity $ 15,137 $ 14,955
v3.25.4
Consolidated Balance Sheets (Parenthetical) - $ / shares
shares in Millions
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Common Stock, Par or Stated Value Per Share $ 0.01  
Common Stock, Shares Authorized 1,000.0  
Common Stock, Shares, Issued 324.0 323.6
Common Stock, Shares, Outstanding 255.0 259.1
Treasury Stock, Common, Shares 69.0 64.5
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES (1):      
Net income $ 608 $ 693 $ 938
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 418 406 319
Impairment of goodwill 52 0 0
Stock-based compensation expense 34 30 40
Deferred income taxes (75) (34) 13
Other 32 83 18
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:      
Receivables (16) (2) 5
Inventories (49) (253) 71
Other assets (13) (59) (23)
Prepaid income taxes/income taxes payable (8) (15) (12)
Accounts payable 156 251 (5)
Other liabilities (75) 17 37
Operating lease assets and liabilities (1) 4 4
Net cash provided by operating activities 1,063 1,121 1,356
CASH FLOWS FROM INVESTING ACTIVITIES (1):      
Purchases of property, plant and equipment (216) (311) (358)
Acquisitions, net of cash acquired 1 (49) (2,225)
Proceeds from disposals of businesses, net of divested cash 397 (11)  
Other investing activities, net 3 (35) (18)
Net cash provided by (used in) investing activities 185 (406) (2,442)
CASH FLOWS FROM FINANCING ACTIVITIES (1):      
Borrowings under revolving credit facilities 1,510 1,312 2,186
Repayments under revolving credit facilities (2,176) (1,553) (3,074)
Borrowings under term loans 140 0 1,031
Repayments under term loans (140) 0 0
Repayments of other debt, net (42) (45) (32)
Dividends paid to LKQ stockholders (310) (318) (302)
Purchase of treasury stock (159) (360) (38)
Other financing activities, net (14) (51) (63)
Net cash (used in) provided by financing activities (1,191) (746) 1,102
Effect of exchange rate changes on cash, cash equivalents and restricted cash 36 (29) 5
Net increase (decrease) in cash, cash equivalents and restricted cash 93 (60) 21
Cash, cash equivalents and restricted cash of continuing operations, beginning of period (2) 239 299 278
Add: Cash and cash equivalents of discontinued operations, beginning of period   0 0
Cash, cash equivalents and restricted cash of continuing and discontinued operations, beginning of period (2) 239 299 278
Cash, cash equivalents and restricted cash of continuing and discontinued operations, end of period (2) 332 239 299
Less: Cash and cash equivalents of discontinued operations, end of period 0 0 0
Cash, cash equivalents and restricted cash, end of period 332 239 299
Supplemental Cash Flow Information [Abstract]      
Income taxes, net of refunds 300 322 305
Interest 230 230 197
GSF Car Parts      
CASH FLOWS FROM INVESTING ACTIVITIES (1):      
Proceeds from disposals of businesses, net of divested cash     110
Forward Contracts      
Adjustments to reconcile net income to net cash provided by operating activities:      
Gains on foreign exchange contracts - acquisition related 0 0 (49)
CASH FLOWS FROM INVESTING ACTIVITIES (1):      
Proceeds from settlement of foreign exchange contracts - acquisition related 0 0 49
U.S. Notes 2028 2033      
CASH FLOWS FROM FINANCING ACTIVITIES (1):      
Proceeds from issuance of U.S. Notes (2028/33), net of unamortized bond discount 0 0 1,394
Euro Notes 2031      
CASH FLOWS FROM FINANCING ACTIVITIES (1):      
Proceeds from issuance of Euro Notes (2031), net of unamortized bond discount 0 816 0
Euro Notes 2024      
CASH FLOWS FROM FINANCING ACTIVITIES (1):      
Repayment of Euro Notes (2024) $ 0 $ (547) $ 0
v3.25.4
Consolidated Statements of Stockholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Treasury Stock, Common [Member]
Additional Paid-In Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Balance as of December 31, 2025   322.4          
Balance as of December 31, 2025 $ 5,467 $ 3 $ (2,389) $ 1,506 $ 6,656 $ (323) $ 14
Balance as of December 31, 2025 at Dec. 31, 2022     (55.1)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income 938       936    
Less: net income attributable to continuing noncontrolling interest 2           2
Other comprehensive income 83         83  
Purchase of treasury stock     (0.8)        
Purchase of treasury stock (35)   $ (35)        
Vesting of restricted stock units, net of shares withheld for employee tax   0.7          
Vesting of restricted stock units, net of shares withheld for employee tax (8)     (8)      
Stock-based compensation expense 40     40      
Dividends declared to LKQ stockholders (302)       (302)    
Capital contributions from, net of dividends declared to, noncontrolling interest shareholder (2)           (2)
Shares, Issued, Ending Balance at Dec. 31, 2023   323.1          
Treasury Stock, Common, Shares, Ending Balance at Dec. 31, 2023     (55.9)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 938            
Balance as of December 31, 2025   323.1          
Balance as of December 31, 2025 6,181 $ 3 $ (2,424) 1,538 7,290 (240) 14
Net Income 693       690    
Less: net income attributable to continuing noncontrolling interest 3           3
Other comprehensive income (177)         (177)  
Purchase of treasury stock     (8.6)        
Purchase of treasury stock (363)   $ (363)        
Vesting of restricted stock units, net of shares withheld for employee tax   0.5          
Vesting of restricted stock units, net of shares withheld for employee tax (11)     (11)      
Stock-based compensation expense 30     30      
Dividends declared to LKQ stockholders (318)       (318)    
Capital contributions from, net of dividends declared to, noncontrolling interest shareholder (2)           (2)
Purchase of noncontrolling interest $ (1)     (1)      
Shares, Issued, Ending Balance at Dec. 31, 2024   323.6          
Treasury Stock, Common, Shares, Ending Balance at Dec. 31, 2024 64.5   (64.5)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income $ 693            
Balance as of December 31, 2025   323.6          
Balance as of December 31, 2025 6,032 $ 3 $ (2,787) 1,556 7,662 (417) 15
Net Income 608       607    
Less: net income attributable to continuing noncontrolling interest 1           1
Other comprehensive income 360         360  
Purchase of treasury stock     (4.5)        
Purchase of treasury stock (161)   $ (161)        
Vesting of restricted stock units, net of shares withheld for employee tax   0.4          
Vesting of restricted stock units, net of shares withheld for employee tax (9)     (9)      
Stock-based compensation expense 34     34      
Dividends declared to LKQ stockholders (311)       (311)    
Capital contributions from, net of dividends declared to, noncontrolling interest shareholder (2)           (2)
Acquisition of a subsidiary with noncontrolling interest 9           9
Foreign currency translation adjustment on noncontrolling interest $ 1           1
Shares, Issued, Ending Balance at Dec. 31, 2025   324.0          
Treasury Stock, Common, Shares, Ending Balance at Dec. 31, 2025 69.0   (69.0)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income $ 608            
Balance as of December 31, 2025   324.0          
Balance as of December 31, 2025 $ 6,561 $ 3 $ (2,948) $ 1,581 $ 7,958 $ (57) $ 24
v3.25.4
Business
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Business Business
Description of Business

LKQ Corporation, a Delaware corporation, is a holding company and all operations are conducted by subsidiaries. When the terms "LKQ," "the Company," "we," "us," or "our" are used in this document, those terms refer to LKQ Corporation and its consolidated subsidiaries.

We are a global distributor of vehicle products, including replacement parts, components, and systems used in the repair and maintenance of vehicles, and specialty aftermarket products and accessories designed to improve the performance, functionality and appearance of vehicles. We operate in the United States ("U.S."), Canada, Germany, the United Kingdom ("U.K."), the Benelux region (Belgium, Netherlands, and Luxembourg), Italy, Czech Republic, Austria, Slovakia, France and various other European countries.

We are organized into three operating segments: North America; Europe; and Specialty, each of which is presented as a reportable segment.
v3.25.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Significant Accounting Policies Summary of Significant Accounting Policies
Basis of Presentation

The Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") and the rules and regulations of the U.S. Securities and Exchange Commission. We have reclassified certain prior year amounts in the Consolidated Statements of Income and on the Consolidated Balance Sheets for the presentation of discontinued operations as a result of the sale of our Self Service segment. See Note 4, "Discontinued Operations and Divestitures" for additional information.

Principles of Consolidation

The accompanying Consolidated Financial Statements include the accounts of LKQ Corporation and its subsidiaries. All intercompany transactions and accounts have been eliminated.

Use of Estimates

The preparation of the Consolidated Financial Statements in accordance with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the Consolidated Financial Statements and the reported amounts of revenue and expenses during the reported periods. We base our estimates on historical experience and on various other assumptions that management believes are reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results and outcomes could differ from those estimates.

Foreign Currency Translation

Our reporting currency is the U.S. dollar. For most of our international operations, the local currency is the functional currency. Assets and liabilities are translated into U.S. dollars at the period-ending exchange rate. Statements of Income amounts are translated to U.S. dollars using monthly average exchange rates during the period. Translation gains and losses are reported as a component of Accumulated other comprehensive income (loss) in stockholders' equity.

Revenue Recognition

We recognize revenue when a sales arrangement with a customer exists (e.g., contract, purchase orders, others), the transaction price is fixed or determinable and we have satisfied its performance obligations per the sales arrangement. The majority of our revenue originates from contracts with a single performance obligation to deliver parts, whereby the performance obligation is satisfied when control of the parts is transferred to the customer per the arranged shipping terms. Some of our contracts contain a combination of delivering parts and performing services, which are distinct and accounted for as separate performance obligations. Revenue for the service component is recognized as the services are rendered.
Our revenue is measured at the determinable transaction price, net of any variable considerations granted to customers. Variable considerations include the right to return parts, discounts, rebates, refunds, credits, price concessions, incentives, performance bonuses, or other similar items. These variable considerations are estimated throughout the year based on various factors, including contract terms, historical experience and performance levels.

Sales tax and other tax amounts collected from customers for remittance to governmental authorities are excluded from revenue in the Consolidated Statements of Income and are shown as a current liability on the Consolidated Balance Sheets until remitted.

Any incremental costs to obtain a contract (commissions earned by our sales representatives on product sales) are expensed when incurred, as the amortization period of the asset would be one year or less due to the short-term nature of our contracts.

Cost of Goods Sold

Cost of goods sold includes: the price we pay for inventory, net of vendor discounts, rebates or other incentives; inbound freight and other transportation costs to bring inventory into our facilities; and overhead costs related to purchasing, warehousing and transporting our products from our distribution warehouses to our selling locations. For our salvage, remanufactured, refurbished and manufactured products, cost of goods sold also includes direct and indirect labor, equipment costs, depreciation, and other overhead to transform inventory into finished products suitable for sale. Cost of goods sold also includes expenses for service-type and assurance-type warranty programs.

Selling, General and Administrative Expenses

Selling, general and administrative ("SG&A") expenses include: personnel costs for employees in SG&A functions; costs to operate branch locations, corporate offices and back office support centers; costs to transport products from facilities to our customers; and other expenses, such as professional fees, supplies, and advertising expenses. The costs included in SG&A expenses do not relate to inventory processing or conversion activities, and, as such, are classified below Gross margin in the Consolidated Statements of Income.

Stock-Based Compensation

For the restricted stock units ("RSUs") that contain both a performance-based vesting condition and a time-based vesting condition, we recognize compensation expense using the accelerated attribution method, pursuant to which expense is recognized straight-line over the requisite service period for each separate vesting tranche of the award. For all other awards, which are subject to only a time-based vesting condition, we recognize compensation expense on a straight-line basis over the requisite service period of the entire award.

For performance-based RSUs ("PSUs"), the expense is calculated using the projected award value, which is based on an estimate of the achievement of the performance objectives, and is recognized on a straight-line basis over the performance period.

The impacts of forfeitures on RSUs and PSUs expense are recorded as they occur.

Income Taxes

Current income taxes are provided on income reported for financial reporting purposes, adjusted for transactions that do not enter into the computation of income taxes payable in the same year. Deferred income taxes are provided for temporary differences between the tax bases of assets and liabilities and their reported amounts in the financial statements. A valuation allowance is provided for deferred tax assets if it is more likely than not that these items will either expire before we are able to realize their benefit or that future deductibility is uncertain. Provision is made for taxes on undistributed earnings of foreign subsidiaries and related companies to the extent that such earnings are not deemed to be permanently invested.

We recognize the benefits of uncertain tax positions taken or expected to be taken in tax returns in the provision for income taxes only for those positions that are more likely than not to be realized. We follow a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. We consider many factors when evaluating and estimating our tax positions
and tax benefits, which may require periodic adjustments and which may not accurately forecast actual outcomes. Our policy is to include any interest and penalties associated with income tax obligations in income tax expense.

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents include cash on hand, operating accounts, and deposits readily convertible to known amounts of cash. Restricted cash includes any cash that is legally or contractually restricted as to withdrawal or usage.

Allowance for Credit Losses

Receivables are reported net of an allowance for credit losses. The allowance is measured on a pool basis when similar risk characteristics exist, and a loss-rate for each pool is determined using historical credit loss experience as the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current conditions (e.g., management's evaluation of the aging of customer receivable balances and the financial condition of our customers) as well as changes in forecasted macroeconomic conditions, such as changes in the unemployment rate, gross domestic product growth rate or credit default rates.

Concentrations of Credit Risks

Financial instruments that potentially subject us to significant concentration of credit risk consist primarily of cash and cash equivalents and receivables. We control our exposure to credit risk associated with these instruments by (i) placing cash and cash equivalents with several major financial institutions; (ii) holding high-quality financial instruments; and (iii) maintaining strict policies over credit extension that include credit evaluations, credit limits and monitoring procedures. In addition, our overall credit risk with respect to accounts receivable is limited to some extent because our customer base is composed of a large number of geographically diverse customers.

Inventories

Our inventory is stated at the lower of cost or net realizable value. Net realizable value can be influenced by current anticipated demand. If actual demand is lower than our estimates, additional reductions to inventory carrying value would be necessary in the period such determination is made.

The cost of our inventory is determined differently based on the category of inventory; (i) aftermarket and refurbished products, (ii) salvage and remanufactured products, and (iii) manufactured products.

An aftermarket product is a new vehicle product manufactured by a company other than the original equipment manufacturer. For aftermarket products, cost is established based on the average price paid for parts. Inventory cost for aftermarket products includes expenses incurred for freight in and overhead costs; for items purchased from foreign companies, import fees, tariffs and duties and transportation insurance are also included. Refurbished products are parts that require cosmetic repairs, such as wheels, bumper covers and lights; we will apply new parts, products or materials to these parts to produce the finished product. Refurbished inventory cost is based upon the average price we pay for cores, which are recycled automotive parts that are not suitable for sale as a replacement part without further processing. The cost of refurbished inventory also includes expenses incurred for freight in, labor and other overhead costs.

A salvage product is a recycled vehicle part suitable for sale as a replacement part. Salvage product cost is established based upon the price we pay for a vehicle, including auction, storage and towing fees, as well as expenditures for buying and dismantling the vehicle. Inventory carrying value is determined using the average cost to sales percentage at each of our facilities and applying that percentage to the facility's inventory at expected selling prices, the assessment of which incorporates the sales probability based on a part's number of days in stock and historical demand. The average cost to sales percentage is derived from each facility's historical profitability for salvage vehicles. Remanufactured products are used parts that have been inspected, rebuilt, or reconditioned to restore functionality and performance, such as remanufactured engines and transmissions. Remanufactured inventory cost is based upon the price paid for cores and expenses incurred for freight in, direct manufacturing costs and other overhead costs.

A manufactured product is a new vehicle product. Manufactured product inventory can be a raw material, work-in-process or finished good. Manufactured product cost is established using the first-in first-out method.
Property, Plant and Equipment

Property, plant and equipment are recorded at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives or, in the case of leasehold improvements, the term of the related lease and reasonably assured renewal periods, if shorter. Depreciation expense associated with refurbishing, remanufacturing, manufacturing and furnace operations as well as distribution centers are recorded in Cost of goods sold in the Consolidated Statements of Income. Depreciation expense resulting from restructuring programs is recorded in Restructuring and transaction related expenses in the Consolidated Statements of Income. All other depreciation expense is reported in Depreciation and amortization in the Consolidated Statements of Income.

Expenditures for major additions and improvements that extend the useful life of the related asset are capitalized. Expenditures for maintenance and repairs are recorded as incurred to SG&A expenses in the Consolidated Statements of Income. As property, plant and equipment are sold or retired, the applicable cost and accumulated depreciation are removed from the accounts and any resulting gain or loss thereon is recognized. Construction in progress consists primarily of building and land improvements at our existing facilities.

Intangible Assets

Intangible assets consist primarily of goodwill (the cost of purchased businesses in excess of the fair value of the identifiable net assets acquired) and other specifically identifiable intangible assets, such as customer and supplier relationships, trade names, trademarks, software and other technology related assets, and covenants not to compete.

Goodwill and indefinite-lived intangible assets are tested for impairment at least annually. We performed annual impairment tests during the fourth quarters of 2025, 2024, and 2023. Goodwill and indefinite-lived intangible assets impairment testing may also be performed on an interim basis when events or circumstances arise that may lead to impairment, including significant underperformance relative to historical or forecasted operating results, a significant decrease in the market value of an asset or significant negative industry or economic trends. The fair value estimates of our goodwill reporting units were established using weightings of the results of a discounted cash flow methodology and a comparative market multiples approach.

Based on our annual goodwill and indefinite-lived intangible assets impairment test performed in the fourth quarter of 2025, we determined the carrying value of our Specialty reporting unit exceeded the fair value estimate; as a result, we recorded a goodwill impairment charge of $52 million for the year ended December 31, 2025. We determined no other impairments existed when we performed our annual impairment test as both the North America and Europe reporting units had fair value estimates which exceeded the carrying value by at least 48%. See Note 9, "Intangible Assets" for further information on the goodwill impairment charge.

Leases

We determine if an arrangement is a lease at contract inception with lease right-of-use ("ROU") assets and lease liabilities being recognized based on the present value of the future lease payments over the lease term at the commencement date. In determining the present value of future lease payments, we use the incremental borrowing rate based on the information available at commencement date when the implicit rate is not readily determinable. We determine the incremental borrowing rate based on information available at the commencement date. In assessing the ROU asset, we include any lease prepayments and deduct lease incentives. We account for the lease and non-lease components of a contract as a single lease component and for leases with an initial term of 12 months or less, we have elected to not record an ROU asset and lease liability. In assessing the lease term, we include options to renew only when it is reasonably certain that the option will be exercised.

For certain lease agreements, rental payments are adjusted periodically for inflation. Typically, these adjustments are considered variable lease costs. Other variable lease costs consist of certain non-lease components that are disclosed as lease costs due to our election of the practical expedient to combine lease and non-lease components and include items such as variable payments for utilities, property taxes, common area maintenance, sales taxes, and insurance.

Net Assets Held for Sale

We record net assets held for sale at the lower of fair value less cost to sell or carrying value. Fair values are based on estimated selling prices, which utilize projected market multiples and any reasonable offers. Due to uncertainties in the estimation process, it is possible that actual results could differ from the estimates used in management's analysis. The inputs utilized in the fair value estimates are classified as Level 3 within the fair value hierarchy. The fair values of the net assets were measured on a
non-recurring basis as of December 31, 2025. As of December 31, 2025 and 2024, assets and liabilities held for sale were insignificant. For the years ended December 31, 2025 and 2023, we recorded an insignificant amount of impairment on our net assets held for sale. In 2024, we divested certain operations in Slovenia, Poland and Bosnia. Our decision to exit these businesses, as well as other factors, constituted a triggering event to evaluate our net assets held for sale for impairment, and as a result, we incurred impairment charges related to these divestitures during the year ended December 31, 2024. See Note 13, "Restructuring and Transaction Related Expenses" for further information related to these impairment charges.

Discontinued Operations

We classify operations as discontinued when they meet all the criteria to be classified as held for sale and when the sale represents a strategic shift that will have a major impact on our financial condition and results of operations. In determining if a disposal constitutes a strategic shift, we evaluate various qualitative and quantitative factors, an example of which is the impact to segment reporting. We generally consider the disposal of an entire reportable segment to constitute a strategic shift. When operations are identified for discontinued operations reporting, results of operations for all periods presented are reclassified as discontinued operations in the Consolidated Statements of Income, assets and liabilities of the operations are reported as assets and liabilities of discontinued operations on the Consolidated Balance Sheets, and information is recast throughout the notes to the consolidated financial statements to exclude the results of the discontinued operations. Furthermore, FASB Accounting Standards Codification 205-20, "Presentation of Financial Statements - Discontinued Operations" defines what activities may be classified as discontinued operations with general corporate overhead generally not being allocable to discontinued operations. See Note 4, "Discontinued Operations and Divestitures" for further information related to discontinued operations.

Impairment of Long-Lived Assets

Long-lived assets are reviewed for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. If such review indicates that the carrying amount of long-lived assets is not recoverable, the carrying amount of such assets is reduced to fair value. As a result of the divestitures described in the "Net Assets Held for Sale" section above, we incurred impairment charges to the carrying value of long-lived assets during the year ended December 31, 2024. See Note 13, "Restructuring and Transaction Related Expenses" for further information related to these impairment charges. For our continuing operations, there were no significant impairments to the carrying value of long-lived assets during the years ended December 31, 2025 or 2023.

Equity Method Investments

We account for our investments in unconsolidated subsidiaries using the equity method of accounting, as our investments give us the ability to exercise significant influence, but not control, over the investee. Under the equity method of accounting, the initial investment is recorded at cost and the investment is subsequently adjusted for our proportionate share of earnings or losses and dividends, including consideration of basis differences resulting from the difference between the initial carrying amount of the investment and the underlying equity in net assets, as applicable. Equity method investments are tested for impairment at least annually, and may also be performed on an interim basis when events or circumstances arise that may lead to impairment. We performed annual impairment testing for the years ended December 31, 2025, 2024, and 2023, and based on our testing, we determined no other-than-temporary impairment existed. See Note 10, "Equity Method Investments" for further information related to equity method investments.

Financial Assets and Liabilities Measured at Fair Value

We have certain financial assets and liabilities that are measured at fair value within our consolidated financial statements including investments in equity and debt securities as well as our defined benefit plan assets. The tiers in the fair value hierarchy include: Level 1, defined as observable inputs such as quoted market prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as significant unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions. See Note 20, "Fair Value Measurements" and Note 22, "Employee Benefit Plans for further information related our fair value measurements and pension plans.
Warranty Reserve

Assurance-type warranties are not considered a separate performance obligation, and thus no transaction price is allocated to them. Our warranty reserve is calculated using historical claim information to project future warranty claims activity and is recorded within Other accrued expenses and Other noncurrent liabilities on our Consolidated Balance Sheets based on the expected timing to settle the warranty claims. We record warranty costs in Cost of goods sold in our Consolidated Statements of Income.

Self-Insurance Reserves

We self-insure a portion of our employee medical benefits under the terms of our employee health insurance program. We purchase certain stop-loss insurance to limit our liability exposure. We also self-insure a portion of our property and casualty risk, which includes automobile liability, general liability, directors and officers liability, workers' compensation, and property coverage, under deductible insurance programs. The insurance premium costs are expensed over the contract periods. A reserve for liabilities associated with these losses is established for claims filed and claims incurred but not yet reported based upon our estimate of the ultimate cost, which is calculated using an analysis of historical data. We monitor new claim and claim developments as well as trends related to the claims incurred but not reported in order to assess the adequacy of our insurance reserves. The current portion of total self-insurance reserves is recorded in Other accrued expenses on the Consolidated Balance Sheets with the noncurrent portion is recorded in Other noncurrent liabilities on the Consolidated Balance Sheets, which reflects management's estimates of when claims will be paid.

Litigation and Related Contingencies

We have certain contingencies resulting from litigation, claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business. We currently expect that the resolution of such contingencies will not materially affect our financial position, results of operations or cash flows.

Treasury Stock

We record common stock purchased for treasury stock at cost. The excise tax on share repurchases initiated on and after January 1, 2023 is included in the cost basis of treasury stock.

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." The ASU requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. We adopted the ASU on a prospective basis beginning in this Annual Report on Form 10-K for the year ended December 31, 2025. The adoption of ASU 2023-09 did not have a material impact on our results of operations, financial position or cash flows but did result in additional disclosures. See Note 23, "Income Taxes for further information related to these disclosures.

Recently Issued Accounting Pronouncements

In November 2024, the FASB issued ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” The ASU requires disclosure of specific expense categories within relevant income statement captions. The amendments in this ASU are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The ASU can be adopted prospectively or retrospectively and early adoption is permitted. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software”. This ASU removes references to software development project stages to better align with current software development methods. Under the ASU, an entity will begin capitalizing software costs when management authorizes and commits to funding the software project, and it is probable that the project will be completed and the software will be used for its intended purpose. This update is effective for annual periods
beginning after December 15, 2027, including interim periods within those fiscal years, though early adoption is permitted. This ASU can be adopted either prospectively, retrospectively, or utilizing a modified transition approach. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements.

In November 2025, the FASB issued ASU 2025-09, “Derivatives and Hedging (Topic 815): Hedge Accounting Improvements”, which amends certain aspects of hedge accounting to more closely align with the economics of an entity’s risk management activities. The amendments include changes to the risk assessment for cash flow hedges, hedging forecasted interest payments on choose-your-rate debt instruments, cash flow hedges of nonfinancial forecasted transactions, net written options as hedging instruments and dual hedges of foreign currency denominated debt instruments. This update is effective for annual periods beginning after December 15, 2026, including interim periods within those fiscal years, though early adoption is permitted. This ASU is required to be adopted prospectively for all hedging relationships, with the option to adopt the amendments for hedging relationships that exist as of the adoption date. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements.
v3.25.4
Business Combinations
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combinations Business Combinations
During the year ended December 31, 2025, we completed acquisitions of two businesses within our Europe segment and during the year ended December 31, 2024, we completed acquisitions of eight businesses within our North America segment and two businesses within our Europe segment. These acquisitions were not material to our financial position or results of operations as of and for the years ended December 31, 2025 and 2024. Additionally, in January 2024, we paid $23 million (€21 million) to a minority shareholder to settle a put option exercised on redeemable shares issued in conjunction with a previous acquisition. This payment was presented within Other financing activities, net in financing activities in our Consolidated Statements of Cash Flows.

On August 1, 2023, we completed the acquisition of all of Uni-Select's issued and outstanding shares for an aggregate consideration paid of approximately Canadian dollar (“CAD”) 2.8 billion ($2.1 billion) (the "Uni-Select Acquisition"). In order to reduce the risk related to changes in CAD foreign exchange rates for the CAD purchase price, we entered into foreign exchange contracts. These foreign exchange contracts did not qualify for hedge accounting, and therefore the changes in fair value were reported in Gains on foreign exchange contracts - acquisition related in the Consolidated Statements of Income. We reported Gains on foreign exchange contracts - acquisition related of $49 million for the year ended December 31, 2023. These foreign exchange contracts were settled in July 2023 ahead of closing of the Uni-Select Acquisition, resulting in total payments received of $49 million. See Note 19, "Derivative Instruments and Hedging Activities" for information related to these foreign exchange contracts. This acquisition complemented our existing North American paint distribution operations and provided a scaled position in the Canadian replacement and maintenance parts market, with opportunity for future consolidation and growth.

In addition to our acquisition of Uni-Select, we completed acquisitions of three businesses within our North America segment, four businesses within our Europe segment and one business in our Specialty segment, during the year ended December 31, 2023.

Our acquisitions are accounted for under the purchase method of accounting and are included in our consolidated financial statements from the dates of acquisition. The purchase prices were allocated to the net assets based upon estimated fair values at the dates of acquisition. During the years ended December 31, 2025 and 2024, there have been no significant adjustments to the preliminary purchase price allocations from those disclosed in our December 31, 2023 Consolidated Financial Statements.

Unaudited Pro Forma Financial Information

For businesses acquired during the year ended December 31, 2025, the effect of pro forma revenue and income from continuing operations is not material for the years ended December 31, 2025 and 2024, respectively.
v3.25.4
Discontinued Operations and Divestitures
 12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations[Text Block] Discontinued Operations and Divestitures
On August 25, 2025, we entered into a definitive agreement to sell our Self Service segment to an affiliate of Pacific Avenue Capital Partners, LLC for an enterprise value of $410 million, subject to customary purchase price adjustments. The sale of the Self Service segment reflects our continued efforts to simplify our portfolio of businesses by exiting an asset-intensive business heavily affected by changes in commodity prices. The sale was completed on September 30, 2025. On October 1, 2025, we received the pretax net proceeds from the sale and used these proceeds to repay approximately $390 million of revolving credit facility borrowings. Accordingly, interest expense attributable to the repaid borrowings has been included in discontinued
operations for all periods presented. Additionally, general corporate overhead costs that were historically allocated to the Self Service segment remain within continuing operations for all periods presented.

In connection with the transaction, we also entered into a transition services agreement to provide certain post-close support services. These support services, most of which last for up to nine months from the closing date of the sale, are in the areas of human resources, tax, finance, information technology, and operations, among others.

The following table summarizes the comparative financial results of discontinued operations which are presented in Net income from discontinued operations in the Consolidated Statements of Income (in millions):

Year Ended December 31,
 202520242023
Revenue$395 $532 $597 
Cost of goods sold213 305 375 
Gross margin182 227 222 
Impairment on assets held for sale (1)
15 — — 
Selling, general and administrative expenses124 158 173 
Depreciation and amortization9 15 16 
Operating income34 54 33 
Other expense (income):
Interest expense15 24 23 
Interest income and other income, net(1)(2)(2)
Total other expense, net14 22 21 
Income from discontinued operations before provision for income taxes20 32 12 
Provision for income taxes9 8 2 
Net income from discontinued operations$11 $24 $10 
(1)    During the year ended December 31, 2025, we recorded an impairment to write down the carrying value of Self Service to its fair value less costs to sell. This includes an estimate of working capital adjustments recorded in the fourth quarter of 2025.
The major classes of Assets of discontinued operations and Liabilities of discontinued operations for Self Service as of December 31, 2024 stated on the Consolidated Balance Sheets are as follows (in millions):
December 31, 2024
Assets
Current assets:
Receivables, net of allowance for credit losses$9 
Inventories37 
Prepaid expenses and other current assets2 
Total current assets of discontinued operations48 
Property, plant and equipment, net108 
Operating lease assets, net132 
Goodwill274 
Other noncurrent assets1 
Total noncurrent assets of discontinued operations515 
Total assets of discontinued operations$563 
Liabilities
Current liabilities:
Accounts payable$4 
Accrued expenses:
Accrued payroll-related liabilities7 
Refund liability1 
Other accrued expenses6 
Current portion of operating lease liabilities15 
Other current liabilities2 
Total current liabilities of discontinued operations35 
Long-term operating lease liabilities, excluding current portion114 
Long-term obligations, excluding current portion3 
Total noncurrent liabilities of discontinued operations117 
Total liabilities of discontinued operations$152 

The following table summarizes the significant non-cash operating activities and capital expenditures of the Company’s discontinued operations related to the Self Service segment (in millions):
Year Ended December 31,
 202520242023
Depreciation and amortization$9 $15 $16 
Impairment on assets held for sale15 — — 
Purchases of property, plant and equipment5 13 36 

GSF Car Parts

As part of the Uni-Select transaction, we were required to divest its U.K. subsidiary, GSF Car Parts, to comply with the U.K.'s Competition and Markets Authority regulatory ruling. Since the GSF Car Parts business was held separate and never integrated into our business, we classified the business as discontinued operations upon acquisition.

On October 25, 2023, we divested GSF Car Parts to a third party for $110 million of proceeds, net of cash divested, resulting in an immaterial loss on sale. The proceeds were used for repayments on our revolving credit facilities. In order to manage our exposure to variability in the cash flows related to the sale of GSF Car Parts, we entered into a foreign exchange forward contract to fix the amount of USD we received upon completion of the sale. This foreign exchange contract was settled in October 2023. For the year ended December 31, 2023, we recorded a $6 million loss to discontinued operations related to GSF Car Parts.
Other Divestitures (Not Classified in Discontinued Operations)

In 2024, we divested certain operations in Slovenia, Poland and Bosnia. See Note 13, "Restructuring and Transaction Related Expenses" for further information related to these divestitures.
v3.25.4
Inventories
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
We classify our inventory into the following categories: (i) aftermarket and refurbished products, (ii) salvage and remanufactured products, and (iii) manufactured products. Aftermarket and refurbished products, and salvage and remanufactured products are primarily composed of finished goods. Manufactured products are primarily composed of raw materials and finished goods.

Inventories consist of the following (in millions):
December 31,
20252024
Aftermarket and refurbished products$2,849 $2,659 
Salvage and remanufactured products526 470 
Manufactured products51 54 
Total inventories $3,426 $3,183 
v3.25.4
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure Property, Plant and Equipment
Property, plant and equipment consists of the following (in millions):
December 31,
Useful Life20252024
Land and improvements
10 - 20 years(1)
$234 $222 
Buildings and improvements20 - 40 years520 483 
Machinery and equipment3 - 20 years937 831 
Computer equipment3 - 10 years175 156 
Vehicles and trailers3 - 10 years126 128 
Furniture and fixtures5 - 7 years93 73 
Leasehold improvements1 - 20 years486 427 
Finance lease assets194 161 
2,765 2,481 
Less: Accumulated depreciation(1,352)(1,132)
Construction in progress39 60 
Total property, plant and equipment, net$1,452 $1,409 
(1) Only applies to land improvements as land is not depreciated.

Total depreciation expense for the years ended December 31, 2025, 2024, and 2023 was $226 million, $210 million, and $177 million, respectively.
v3.25.4
Self-Insurance Reserves
 12 Months Ended
Dec. 31, 2025
Self-Insurance Reserves [Abstract]  
Self-Insurance Reserves Self-Insurance Reserves
To provide for the potential liabilities for certain risks, we use a combination of insurance and self-insurance mechanisms, including a consolidated, wholly-owned captive insurance subsidiary which provides insurance coverage for workers' compensation and automotive liability claim payments that are below our deductibles under our third-party policies. The activity related to our captive insurance subsidiary was not material for the years ended December 31, 2025, 2024, and 2023.

Total self-insurance reserves were $139 million and $144 million, of which $76 million and $79 million were classified as current, as of December 31, 2025 and 2024, respectively. We had outstanding letters of credit of $134 million and $114 million, of which $97 million and $79 million were to guarantee self-insurance claims payments at December 31, 2025 and 2024, respectively. While we do not expect the amounts ultimately paid to differ significantly from the estimates, the insurance
reserves and corresponding expenses could be affected if future claims experience differs significantly from historical trends and assumptions.
v3.25.4
Allowance for Credit Losses
 12 Months Ended
Dec. 31, 2025
Credit Loss [Abstract]  
Allowance for Credit Losses Allowance for Credit Losses
Our allowance for expected credit losses was $53 million and $56 million as of December 31, 2025 and December 31, 2024, respectively. The provision for credit losses was $14 million, $17 million, and $12 million for the years ended December 31, 2025, 2024, and 2023, respectively.

A rollforward of our allowance for credit losses is as follows (in millions):
20252024
Balance as of January 1,$56 $61 
Provision for credit losses14 17 
Write-offs(22)(19)
Impact of foreign currency5 (3)
Balance as of December 31, $53 $56 
v3.25.4
Intangible Assets
 12 Months Ended
Dec. 31, 2025
Intangible Assets [Abstract]  
Intangible Assets Disclosure Intangible Assets
The changes in the carrying amount of goodwill by reportable segment is as follows (in millions):

North AmericaEuropeSpecialtyTotal
Balance as of January 1, 2024, gross$2,589 $2,298 $471 $5,358 
Accumulated impairment losses as of January 1, 2024(33)— — (33)
Balance as of January 1, 20242,556 2,298 471 5,325 
Business acquisitions and adjustments to previously recorded goodwill4 9 2 15 
Disposal of businesses— (5)— (5)
Exchange rate effects(32)(129)— (161)
Balance as of December 31, 2024$2,528 $2,173 $473 $5,174 
Business acquisitions and adjustments to previously recorded goodwill(1)2 — 1 
Impairment of goodwill— — (52)(52)
Exchange rate effects11 280 — 291 
Balance as of December 31, 2025$2,538 $2,455 $421 $5,414 
Accumulated impairment losses as of December 31, 2025$(33)$— $(52)$(85)

For the Specialty segment, we recorded a goodwill impairment charge of $52 million for the year ended December 31, 2025 as the carrying value was higher than its estimated fair value based on the results of our October 31, 2025 test. The impairment was driven by a combination of factors, including lower observed market multiples in the guideline public company method, lower long term revenue growth than previous forecasts, and higher margin product groups having a longer anticipated market recovery. As of December 31, 2025, the remaining Specialty goodwill balance was $421 million. A 1% decrease in projected cash flows or long term growth rate would result in approximately an additional $10 million of impairment, a 25 basis point increase in the discount rate would result in approximately an additional $30 million of impairment, or a 1.0 decrease in the market multiples assumption would result in approximately an additional $30 million of impairment. Given the sensitivity of the calculation to these assumptions, events that cause declines to Specialty's future cash flows such as underperformance relative to our forecasts, since actual results may differ from our estimates of future performance, or events that have a negative impact on the market value of the business, such as a deterioration in macroeconomic conditions, could result in additional future impairment to the goodwill in our Specialty segment. We will continuously monitor each of our reporting units for any risk of future impairments. We reported the impairment charge in Impairment of goodwill on the Consolidated Statements of Income for the year ended December 31, 2025. We determined no other impairments existed when we performed our annual impairment test. See "Intangible Assets" in Note 2, "Summary of Significant Accounting Policies" for further information.
The components of other intangibles, net are as follows (in millions):

 December 31, 2025December 31, 2024
 Gross
Carrying
Amount		Accumulated
Amortization		NetGross
Carrying
Amount		Accumulated
Amortization		Net
Customer and supplier relationships$1,194 $(636)$558 $1,150 $(505)$645 
Trade names and trademarks561 (302)259 513 (248)265 
Software and other technology related assets482 (308)174 425 (266)159 
Total finite-lived intangible assets2,237 (1,246)991 2,088 (1,019)1,069 
Indefinite-lived trademarks81 — 81 81 — 81 
Total other intangible assets$2,318 $(1,246)$1,072 $2,169 $(1,019)$1,150 

Estimated useful lives for the finite-lived intangible assets are as follows:
Method of AmortizationUseful Life
Customer and supplier relationshipsAccelerated3-20 years
Trade names and trademarksStraight-line3-30 years
Software and other technology related assetsStraight-line3-15 years

Amortization expense for intangibles was $183 million, $182 million, and $126 million during the years ended December 31, 2025, 2024, and 2023, respectively. Estimated amortization expense for each of the five years in the period ending December 31, 2030 is $170 million, $152 million, $121 million, $105 million and $97 million, respectively.
v3.25.4
Equity Method Investments
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Equity Method Investments
The carrying value of our Equity method investments were as follows (in millions):

Segment
Ownership as of December 31, 2025
December 31, 2025December 31, 2024
MEKO AB (1)
Europe26.6%$157 $157 
Other13 12 
Total$170 $169 
(1)    As of December 31, 2025, the Level 1 fair value of our investment in MEKO AB ("Mekonomen") was $115 million based on the quoted market price for Mekonomen's common stock using the same foreign exchange rate as the carrying value. We evaluated our investment in Mekonomen for other-than-temporary impairment and concluded the decline in fair value was not other-than-temporary; however, a prolonged, material impairment may cause us to account for the decline as an other-than-temporary impairment in a future period, resulting in a charge in our Consolidated Statements of Income. Our share of the book value of Mekonomen's net assets exceeded the book value of our investment by $13 million; this difference is primarily related to Mekonomen's Accumulated Other Comprehensive Income balance as of our acquisition date in 2016. We record our equity in the net earnings of Mekonomen on a one quarter lag. We received $7 million in dividend payments from Mekonomen during the year ended December 31, 2025 and $5 million for each of the years ended December 31, 2024 and 2023.
v3.25.4
Warranty Reserve
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Warranty Reserve Warranty Reserve
We provide warranties against defects and product failures on certain of our products, including remanufactured engines and transmissions (warranty periods ranging from 12 to 48 months) and certain salvage mechanical products (warranty period of 6 months or 6,000 miles). We also offer limited lifetime warranties on certain collision sheet metal products.
The changes in the warranty reserve are as follows (in millions):
20252024
Balance as of January 1,$39 $35 
Warranty expense76 89 
Warranty claims(74)(85)
Balance as of December 31,$41 $39 
v3.25.4
Revenue Recognition
 12 Months Ended
Dec. 31, 2025
Revenue Recognition [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregated Revenue

We report revenue in two categories: (i) parts and services and (ii) other.

Parts revenue is generated from the sale of alternative parts and vehicle products including collision parts, which are typically exterior components used in the collision repair process to restore a vehicle's appearance and safety; hard parts, which are typically internal components that are either mechanical in nature or functional components that are replaced as part of routine maintenance; major mechanical parts; and specialty products and accessories, which are vehicle products that improve the performance, functionality and appearance of vehicles. Services revenue includes additional services that are generally billed concurrently with the related product sales, such as the sale of service-type warranties, and diagnostic and repair services.

Other revenue includes sales of scrap and precious metals (platinum, palladium, and rhodium), bulk sales to mechanical manufacturers (including cores) and sales of aluminum ingots and sows from furnace operations; all of which are typically acquired as byproducts of our salvage operations. Revenue from the sale of hulks in our North America segment is recognized based on a price per ton of delivered material when the customer (processor) collects the scrap.

The following table sets forth our revenue disaggregated by category and reportable segment (in millions):

Year Ended December 31,
 202520242023
North America$5,329 $5,465 $4,974 
Europe6,287 6,386 6,303 
Specialty1,690 1,654 1,665 
Parts and services13,306 13,505 12,942 
North America321 297 307 
Europe24 21 20 
Other345 318 327 
Total revenue$13,651 $13,823 $13,269 

Variable Consideration

Amounts related to variable consideration on our Consolidated Balance Sheets are as follows (in millions):

December 31,
 Classification20252024
Return assetPrepaid expenses and other current assets$66 $66 
Refund liabilityRefund liability122 125 
Variable consideration reserveReceivables, net of allowance for credit losses148 136 
Revenue by Geographic Area

Our net sales are attributed to geographic area based on the location of the selling operation. The following table sets forth our revenue by geographic area (in millions):

Year Ended December 31,
 202520242023
Revenue
United States$6,221 $6,305 $6,229 
Germany1,830 1,732 1,672 
United Kingdom1,656 1,692 1,679 
Other countries3,944 4,094 3,689 
Total revenue$13,651 $13,823 $13,269 
v3.25.4
Restructuring and Transaction Related Expenses
 12 Months Ended
Dec. 31, 2025
Restructuring and Acquisition Related Expenses [Abstract]  
Restructuring and Transaction Related Expenses [Text Block] Restructuring and Transaction Related Expenses
Strategic Restructuring and Transformation Initiative

As part of executing our strategy to deliver profitable growth, drive a lean operating model and maximize returns on invested capital, we will, from time to time, engage in restructuring and business transformation initiatives. These initiatives can range in scope from broad changes such as centralizing and standardizing non-customer facing teams and divesting non-strategic assets, to targeted changes such as consolidating underutilized facilities and closing underperforming locations. Executing on these initiatives can take a few months to several years to fully implement depending on the scope and complexity of the initiative. Additionally, initiatives can change or expand based on the information obtained while executing on the initiative and when additional actions are identified.

In connection with changes to key leadership positions in Europe and North America, as well as changes within the business environments in which we operate, we are executing on new initiatives to transform our operational structures, processes and technologies across all segments to implement target operating models and refine our go to market strategies. Additionally, as a result of the above changes, the remaining actions related to the initiatives previously included in the 1 LKQ Europe Plan, such as implementing a common Enterprise Resource Planning ("ERP") platform, rationalizing product portfolios and creating a centralized back office function, will be incorporated into this broader enterprise-wide transformation and the related future spend will be incorporated under this plan. As such, the 1 LKQ Europe Plan was closed at the end of 2025 with the total incurred cost of $17 million after successfully establishing a European headquarters office, migrating certain functions to a central back office and integrating four regional businesses onto a common ERP platform. We anticipate we will incur approximately $65 million of cost in the next 12 months executing on the approved actions in connection with this initiative.

2024 Global Restructuring Plan

In the first quarter of 2024, we began a global restructuring initiative focused on enhancing profitability. This initiative included exiting businesses and markets that did not align with our strategic objectives and executing on opportunities to reduce costs, streamline operations and consolidate facilities. As we moved forward with our plan, we incurred impairments and other charges related to the disposal of long-lived assets, inventory, and other assets; costs for employee severance; lease termination charges and facility closure costs; and other contract termination charges. The largest portion of the activity came from the Europe segment. In 2024, we divested our operations in Slovenia and Bosnia to third parties and, certain operations in Poland to Mekonomen, an equity method investment of which we own 26.6%, and received a combination of cash and notes receivable. Our decision to exit these markets constituted a triggering event to evaluate certain long-lived assets for impairment, and as a result, we incurred impairment charges with the divestitures of Slovenia, Poland, and Bosnia. This plan was substantially completed in 2025 with a total incurred cost of $139 million.

Acquisition Integration Plans

After completing the acquisition of a business, we may incur costs related to integrating the acquired business into our current business structure and systems. These costs are typically incurred within a year from the acquisition date and vary in magnitude depending on the size and complexity of the related integration activities. There are no material Acquisition Integration Plans as of December 31, 2025.
The following table sets forth the expenses incurred related to our restructuring plans (in millions):

Year Ended December 31,
PlanExpense Type202520242023
2024 Global PlanEmployee related costs$15 $35 $— 
Facility exit costs11 7 — 
Inventory related costs (1)
— 13 — 
Asset impairments (2)
— 49 — 
Other costs, net2 7 — 
Total$28 $111 $— 
2022 Global PlanEmployee related costs$— $2 $4 
Facility exit costs— 3 7 
Inventory related costs (1)
— — 2 
Other costs— — 2 
Total$— $5 $15 
2019/2020 Global PlanFacility exit costs$— $— $1 
Total$— $— $1 
1 LKQ Europe PlanEmployee related costs$2 $2 $1 
Facility exit costs— 1 — 
Inventory related costs (1)
— 2 2 
Total$2 $5 $3 
Acquisition Integration PlansEmployee related costs$— $4 $23 
Facility exit costs4 16 5 
Other costs1 5 1 
Total$5 $25 $29 
Total restructuring expenses$35 $146 $48 
(1)    Recorded to Cost of goods sold in the Consolidated Statements of Income.
(2)    Related to impairment of assets in Property, plant and equipment, net and Prepaid expenses and other current assets on the Consolidated Balance Sheets.

The following table sets forth the cumulative plan costs by segment related to our restructuring plans (in millions):

Cumulative Program Costs
North AmericaEuropeSpecialtyTotal
2024 Global Plan$30 $109 $— $139 
1 LKQ Europe Plan— 17 — 17 

Transaction Related Expenses

During the years ended December 31, 2025, 2024 and 2023, we incurred expenses totaling $7 million, $4 million and $21 million, respectively, for legal, accounting and advisory services related to completed and potential transactions.
v3.25.4
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
In order to attract and retain employees, non-employee directors, consultants, and other persons associated with the Company, we grant equity-based awards under the LKQ Corporation 1998 Equity Incentive Plan (the “Equity Incentive Plan”). The total number of shares approved by stockholders for issuance under the Equity Incentive Plan is 70 million shares, subject to anti-dilution and other adjustment provisions. We have granted RSUs, stock options, and restricted stock under the Equity Incentive Plan. Of the shares approved by stockholders for issuance under the Equity Incentive Plan, 6.2 million shares remained available for issuance as of December 31, 2025. We expect to issue new or treasury shares of common stock to cover past and future equity grants.

RSUs

The RSUs we have issued vest over periods of up to five years, subject to a continued service condition. Currently outstanding RSUs (other than PSUs, which are described below) contain either a time-based vesting condition or a combination of a performance-based vesting condition and a time-based vesting condition, in which case both conditions must be met before any RSUs vest. For all of the RSUs containing a performance-based vesting condition, we must report positive diluted earnings per share, subject to certain adjustments, during any fiscal year period within five years following the grant date. Each RSU converts into one share of LKQ common stock on the applicable vesting date. The grant date fair value of RSUs is based on the market price of LKQ stock on the grant date.

Participants who are eligible for retirement (defined as a voluntary separation of service from the Company after the participant has attained at least 60 years of age and completed at least five years of service) will continue to vest in their awards following retirement; if retirement occurs during the first year of the vesting period (for RSUs subject to a time-based vesting condition) or the first year of the performance period (for RSUs with a performance-based vesting condition), the participant vests in a prorated amount of the RSU grant based on the portion of the year employed.

Outstanding unvested RSUs earn dividend equivalents at the same rate as dividends on LKQ’s common stock. The dividend equivalents are subject to the same vesting requirements, restrictions and forfeiture provisions as the original award.

The Compensation and Human Capital Committee of our Board approved the grant of 223,778; 228,570; and 169,511 RSUs to our executives that included both a performance-based vesting condition and a time-based vesting condition in 2025, 2024, and 2023, respectively. The performance-based vesting conditions for the 2025, 2024, and 2023 grants to our executive officers have been satisfied.

The fair value of RSUs that vested during the years ended December 31, 2025, 2024, and 2023 was $25 million, $31 million, and $38 million, respectively; the fair value of RSUs vested is based on the market price of LKQ stock on the date vested.

The following table summarizes activity related to our RSUs under the Equity Incentive Plan for the year ended December 31, 2025 (in millions, except years and per share amounts):
Number Outstanding Weighted Average Grant Date Fair ValueWeighted Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value(1)
Unvested as of January 1, 20251.2 $50.85 
Granted (2)
1.0 $41.02 
Vested(0.7)$47.20 
Forfeited / Canceled(0.1)$45.94 
Unvested as of December 31, 20251.4 $46.02 
Expected to vest after December 31, 20251.3 $45.99 2.7$38 
(1)    The aggregate intrinsic value of expected to vest RSUs represents the total pretax intrinsic value (the fair value of LKQ's stock on the last day of the period multiplied by the number of units) that would have been received by the holders had all the expected to vest RSUs vested. This amount changes based on the market price of LKQ’s common stock.
(2)    The weighted average grant date fair value of RSUs granted during the years ended December 31, 2024 and 2023 was $51.61 and $56.57, respectively.
PSUs

We grant PSUs with a three-year performance period to certain employees, including executive officers, under our Equity Incentive Plan. As these awards are performance-based, the exact number of shares to be paid out may be up to twice the grant amount, depending on our performance and the achievement of certain performance metrics (adjusted earnings per share, average organic parts and services revenue growth, and average return on invested capital) over the applicable three year performance periods.

Outstanding unvested PSUs earn dividend equivalents at the same rate as dividends on LKQ's common stock. The dividend equivalents are subject to the same vesting requirements, restrictions and forfeiture provisions as the original award.

The fair value of PSUs that vested during the years ended December 31, 2025, 2024 and 2023 was $1 million, $11 million, and $13 million respectively; the fair value of PSUs vested is based on the market price of LKQ stock on the date vested.

The following table summarizes activity related to our PSUs under the Equity Incentive Plan for the year ended December 31, 2025 (in millions, except years and per share amounts):
Number OutstandingWeighted Average Grant Date Fair ValueWeighted Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value(1)
Unvested as of January 1, 20250.3 $53.60 
Granted (2)
0.2 $41.27 
Performance-based adjustment (3)
(0.1)$56.84 
Unvested as of December 31, 20250.4 $45.20 
Expected to vest after December 31, 20250.4 $45.27 1.6$11 
(1)     The aggregate intrinsic value of expected to vest PSUs represents the total pretax intrinsic value (the fair value of LKQ's stock on the last day of each period multiplied by the number of units) that would have been received by the holders had all the expected to vest PSUs vested. This amount changes based on the market price of LKQ’s common stock and the achievement of the performance metrics relative to the established targets.
(2)    Represents the number of PSUs at target payout. The weighted average grant date fair value of PSUs granted during the years ended December 31, 2024 and 2023 was $52.08 and $56.83, respectively.
(3)    Represents the net adjustment to the number of shares issuable upon vesting of performance-based PSUs based on the Company's actual financial performance metrics for the three year performance period ended December 31, 2025.

Stock-Based Compensation Expense

Stock-based compensation expense and the resulting tax benefits included in the Consolidated Statements of Income were as follows (in millions):
Year Ended December 31,
 202520242023
Stock-based compensation expense(1)
$34 $30 $40 
Income tax benefit(7)(7)(9)
Stock-based compensation expense, net of tax$27 $23 $31 
(1)For the years ended December 31, 2025, 2024, and 2023, stock-based compensation included approximately $3 million, $1 million, and $1 million, respectively, for Self Service employees.

We did not capitalize any stock-based compensation costs during the years ended December 31, 2025, 2024, and 2023.
As of December 31, 2025, unrecognized compensation expense related to unvested RSUs and PSUs is expected to be recognized as follows (in millions):
Unrecognized Compensation Expense
2026$22 
202714 
20288 
20294 
Total unrecognized compensation expense$48 

Stock-based compensation expense related to these awards will be different to the extent that forfeitures are realized and performance under the PSUs differs from current achievement estimates.
v3.25.4
Earnings Per Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block] Earnings Per Share
Basic earnings per share are computed using the weighted average number of common shares outstanding during the period. Diluted earnings per share incorporate the incremental shares issuable upon the assumed exercise of stock options and the assumed vesting of RSUs. Certain of our RSUs and stock options were excluded from the calculation of diluted earnings per share because they were antidilutive, but these equity instruments could be dilutive in the future.

The following chart sets forth the computation of earnings per share (in millions, except per share amounts):

Year Ended December 31,
 202520242023
Income from continuing operations$597 $669 $934 
Denominator for basic earnings per share—Weighted-average shares outstanding257.5 263.6 267.6 
Effect of dilutive securities:
RSUs0.3 0.2 0.5 
PSUs— 0.1 0.2 
Denominator for diluted earnings per share—Adjusted weighted-average shares outstanding257.8263.9268.3
Basic earnings per share from continuing operations$2.32 $2.54 $3.49 
Diluted earnings per share from continuing operations (1)
$2.31 $2.54 $3.48 
(1)    Diluted earnings per share from continuing operations was computed using the treasury stock method for dilutive securities.
v3.25.4
Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
The components of Accumulated Other Comprehensive Income (Loss) are as follows (in millions):
 Foreign
Currency
Translation		Unrealized Gain (Loss) on Cash Flow HedgesUnrealized Gain (Loss) on Pension PlansOther Comprehensive Income (Loss) from Unconsolidated SubsidiariesAccumulated
Other Comprehensive Income (Loss)
Balance as of January 1, 2023$(333)$— $11 $(1)$(323)
Pretax income (loss)90 (12)(4)— 74 
Income tax effect— 3 1 — 4 
Reclassification of unrealized gain— (3)(2)— (5)
Reclassification of deferred income taxes— 1 — — 1 
Other comprehensive income from unconsolidated subsidiaries— — — 9 9 
Balance as of December 31, 2023
$(243)$(11)$6 $8 $(240)
Pretax (loss) income(170)7 (8)— (171)
Income tax effect— (2)1 — (1)
Reclassification of unrealized gain— (4)— — (4)
Reclassification of deferred income taxes— 1 — — 1 
Disposal of business2 — — — 2 
Other comprehensive loss from unconsolidated subsidiaries— — — (4)(4)
Balance as of December 31, 2024
$(411)$(9)$(1)$4 $(417)
Pretax income347 1 14 — 362 
Income tax effect— — (2)— (2)
Reclassification of unrealized loss (gain)— 1 (1)— — 
Balance as of December 31, 2025
$(64)$(7)$10 $4 $(57)

Net unrealized losses and gains related to our pension plans were reclassified to Interest income and other income, net in the Consolidated Statements of Income during each of the years ended December 31, 2025, 2024, and 2023.

Our policy is to reclassify the income tax effect from Accumulated other comprehensive income (loss) to the Provision for income taxes when the related gains and losses are released to the Consolidated Statements of Income.
v3.25.4
Supply Chain Financing
 12 Months Ended
Dec. 31, 2025
Payables and Accruals [Abstract]  
Supply Chain Financing Supply Chain Financing
We utilize voluntary supply chain finance programs to support our efforts in negotiating payment term extensions with suppliers as part of our goal to improve our operating cash flows. These programs provide participating suppliers the opportunity to sell their LKQ receivables to financial institutions at the sole discretion of both the suppliers and the financial institutions. We are not a party to the agreement between the suppliers and financial institutions. The financial institutions participate in the supply chain financing initiative on an uncommitted basis and can cease purchasing receivables from our suppliers at any time. Our obligation to our suppliers, including amount due and payment date, are not impacted by the supplier’s decision to sell amounts under these agreements. Our payment terms to the financial institutions, including the timing and amount of payments, are unchanged from the original supplier invoice. All outstanding payments owed under the supply chain finance programs with the participating financial institutions are recorded within Accounts payable on our Consolidated Balance Sheets. As of December 31, 2025 and 2024, we had $481 million and $416 million of Accounts payable outstanding under the arrangements, respectively.
A rollforward of obligations confirmed and paid during the year is as follows (in millions):
20252024
Balance as of January 1,$416 $411 
Invoices confirmed during the year891 871 
Confirmed invoices paid during the year(876)(840)
Impact of foreign currency50 (26)
Balance as of December 31, $481 $416 
v3.25.4
Long-Term Obligations
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Long-Term Obligations Long-Term Obligations
Long-term obligations consist of the following (in millions):
December 31, 2025December 31, 2024
Maturity DateInterest RateAmountInterest RateAmount
Senior Unsecured Credit Agreement:
Term loan payableJanuary 20275.19 %$500 5.83 %$500 
Revolving credit facilitiesDecember 20303.13 %
(1)
1 5.86 %
(1)
664 
Senior Unsecured Term Loan Agreement:
Term loan payableMarch 20293.81 %510 4.98 %487 
Unsecured Senior Notes:
U.S. Notes (2028)June 20285.75 %800 5.75 %800 
U.S. Notes (2033)June 20336.25 %600 6.25 %600 
Euro Notes (2028)April 20284.13 %294 4.13 %259 
Euro Notes (2031)March 20314.13 %881 4.13 %777 
Finance lease obligations4.81 %
(1)
106 4.96 %
(1)
97 
Other debtVarious through December 20303.21 %
(1)
3 3.30 %
(1)
11 
Total debt3,695 4,195 
Less: long-term debt issuance costs and unamortized bond discounts(32)(33)
Total debt, net of debt issuance costs and unamortized bond discounts3,663 4,162 
Less: current maturities, net of debt issuance costs(32)(38)
Long-term debt, net of debt issuance costs and unamortized bond discounts$3,631 $4,124 
(1)    Interest rate derived via a weighted average.

Cash paid for interest was $230 million, $230 million and $197 million for the years ended December 31, 2025, 2024 and 2023, respectively.
The scheduled maturities of long-term obligations outstanding at December 31, 2025 are as follows (in millions):

Amount
2026$32 
2027525 
20281,112 
2029522 
20309 
Thereafter1,495 
Total debt (1)
$3,695 
(1)The total debt amounts presented above reflect the gross values to be repaid (excluding debt issuance costs and unamortized bond discounts of $32 million as of December 31, 2025).

Senior Unsecured Credit Agreement

On January 5, 2023, we and certain other subsidiaries of ours entered into a new credit agreement (the "Senior Unsecured Credit Agreement") which consists of (i) an unsecured revolving credit facility of up to a U.S. Dollar equivalent of $2.0 billion, which includes a $150 million sublimit for the issuance of letters of credit and a $150 million sublimit for swing line loans and (ii) an unsecured term loan facility of up to $500 million. Borrowings under the agreement bear interest at the Secured Overnight Financing Rate ("SOFR") plus the applicable spread or other risk-free interest rates that are applicable for the specified currency plus a spread based on the Company's debt rating and total leverage ratio. On June 5, 2024, we entered into Amendment No. 1 to the Senior Unsecured Credit Agreement which replaced the Canadian Dollar Offer Rate ("CDOR") with the Canadian Overnight Repo Rate Average ("CORRA") for CAD denominated borrowings. The term loan has no required amortization payments prior to its maturity date.

On May 2, 2025 and June 20, 2025, we entered into Amendments No. 2 and No. 3 to the Senior Unsecured Credit Agreement, respectively. These amendments extended the maturity date of the Senior Unsecured Credit Agreement term loan facility from January 5, 2026 to January 5, 2027 as well as provided certain other immaterial modifications. On November 26, 2025 and December 17, 2025, we entered into Amendments No. 4 and 5 to the Senior Unsecured Credit Agreement, respectively, which extended the maturity date of the revolving credit facility from January 5, 2028 to December 17, 2030, as well as certain other immaterial modifications and administrative changes.

The Senior Unsecured Credit Agreement contains customary covenants for an unsecured credit facility for a company that has debt ratings that are investment grade, such as, requirements to comply with a total leverage ratio and interest coverage ratio, each calculated in accordance with the terms of the Senior Unsecured Credit Agreement, and limits on the Company’s and its subsidiaries’ ability to incur liens and indebtedness.

Proceeds from the Senior Unsecured Credit Agreement were used to repay the outstanding principal amount under our prior Senior Secured Credit Agreement, to pay fees and expenses related to the Senior Unsecured Credit Agreement, and for other general corporate purposes.

Senior Unsecured Term Loan Credit Agreement

For the financing related to the Uni-Select Acquisition, on March 27, 2023, we entered into the Senior Unsecured Term Loan Agreement ("CAD Note") which established an unsecured term loan facility of up to CAD 700 million. The CAD Note was funded on July 31, 2023, which was one business day prior to the consummation of the Uni-Select Acquisition.

The CAD Note contains customary covenants for an unsecured term loan for a company that has debt ratings that are investment grade, such as requirements to comply with a total leverage ratio and interest coverage ratio, each calculated in accordance with the terms of the CAD Note, and limits on the Company’s and its subsidiaries’ ability to incur liens and indebtedness.

On June 12, 2024, we entered into Amendment No. 1 to the CAD Note which replaced CDOR with CORRA. The variable interest rate applicable to the CAD Note may be (i) a forward-looking term rate based on CORRA for an interest period chosen by the Company of one or three months or (ii) the Canadian Prime Rate (as defined in the CAD Note), plus in each case a spread based on the Company’s debt rating and total leverage ratio. On June 20, 2025 we entered into Amendment No. 2 to the
CAD Note which included certain immaterial modifications. On November 26, 2025 and December 17, 2025, we entered into Amendments No. 3 and 4, respectively, to the CAD Note which extended the maturity date from July 27, 2026 to March 17, 2029, along with certain other immaterial modifications and administrative changes.

U.S. Notes (2028/2033)

On May 24, 2023, as part of the financing for the Uni-Select Acquisition, we completed an offering of $1,400 million aggregate principal amount of senior unsecured notes, consisting of $800 million senior notes due 2028 (the "U.S. Notes (2028)") and $600 million senior notes due 2033 (the "U.S. Notes (2033)" and together with the U.S. Notes (2028), the "U.S. Notes (2028/33)") in a private placement conducted pursuant to Rule 144A and Regulation S under the United States Securities Act of 1933.

The U.S. Notes (2028/33) are governed by the Indenture, dated as of May 24, 2023 (the "Indenture"), among the Company, certain of the Company's subsidiaries (the "Guarantors") and U.S. Bank Trust Company, National Association, as trustee. The U.S. Notes (2028/33) will be initially fully and unconditionally guaranteed on a senior unsecured basis by each of our wholly owned domestic subsidiaries that are guarantors under our Senior Unsecured Credit Agreement, dated as of January 5, 2023, or the CAD Note and each of our domestic subsidiaries that in the future agrees to guarantee obligations under the Senior Unsecured Credit Agreement, the CAD Note, any other Credit Facility Debt or any Capital Markets Debt (as such terms are defined in the Indenture).

Each subsidiary guarantee will rank equally in right of payment with all existing and future liabilities of the applicable subsidiary guarantor that are not subordinated. Each subsidiary guarantee will effectively rank junior to any secured indebtedness of its respective subsidiary guarantor to the extent of the lesser of the amount of such secured indebtedness and the value of the assets securing such indebtedness. Under the terms of any subsidiary guarantee, holders of the U.S. Notes (2028/33) will not be required to exercise their remedies against us before they proceed directly against the subsidiary guarantors.

Prior to May 15, 2028 in the case of the U.S. Notes (2028) or March 15, 2033 in the case of the U.S. Notes (2033) (each such date a "Par Call Date"), we may redeem the U.S. Notes (2028) or U.S. Notes (2033), as applicable, at our option, in whole or in part, at any time and from time to time, at a redemption price equal to the greater of (i) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming, in each case, that such U.S. Notes (2028/33) matured on their applicable Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 40 basis points in the case of the U.S. Notes (2028) or 45 basis points in the case of the U.S. Notes (2033), less interest accrued to the date of redemption; and (ii) 100% of the principal amount of the U.S. Notes (2028/33) to be redeemed; plus in either case, accrued and unpaid interest thereon to, but excluding the redemption date. On or after the applicable Par Call Date we may redeem the U.S. Notes (2028/33) of the applicable series, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the U.S. Notes (2028/33) being redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date.

In connection with the sale of the U.S. Notes (2028/33), we entered into a Registration Rights Agreement, dated as of May 24, 2023 (the "Registration Rights Agreement"), with the Guarantors and BofA Securities, Inc. and Wells Fargo Securities, LLC, as representatives of the initial purchasers of the U.S. Notes (2028/33) identified therein. Pursuant to the terms of the Registration Rights Agreement, on September 1, 2023, the Company and the Guarantors filed a Registration Statement on Form S-4 ("Form S-4") with respect to a registered offer to exchange (the "Exchange Offer") each series of U.S. Notes (2028/33) and related guarantees for new notes of such series (the "Exchange Notes") and new related guarantees, which has terms substantially identical in all material respects to the applicable series of U.S. Notes (2028/33) (except that the Exchange Notes do not contain terms with respect to transfer restrictions and Additional Interest). The Securities and Exchange Commission ("SEC") declared the Form S-4 effective on September 14, 2023. The Exchange Offer closed in the fourth quarter of 2023.

The U.S. Notes (2028) and U.S. Notes (2033) bear interest at rates of 5.75% and 6.25%, respectively, per year from the date of original issuance or from the most recent payment date on which interest has been paid or provided for. Interest on the U.S. Notes (2028/33) is payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2023.
Euro Notes (2031)

On March 13, 2024, LKQ, together with its indirect, wholly-owned subsidiary, LKQ Dutch Bond B.V., a private company with limited liability, completed an offering and sale of €750 million aggregate principal amount of its 4.125% Notes due March 13, 2031 (“Euro Notes (2031)”). We used the net proceeds from this offering to (i) pay outstanding indebtedness, including all of the outstanding €500 million aggregate principal amount of senior notes due April 1, 2024 (the "Euro Notes (2024)") issued by the Company’s indirect wholly-owned subsidiary, LKQ Italia Bondco di LKQ Italia Bondco GP S.r.l e C.S.A.P.A. (formerly known as LKQ Italia Bondco S.p.A.), and (ii) pay accrued interest and related fees, premiums and expenses. The Euro Notes (2031) are governed by the Euro Notes (2031) Indenture, dated as of March 13, 2024.

The Euro Notes (2031) bear interest at a rate of 4.125% per year. Interest on the Euro Notes (2031) is payable annually on each March 13, commencing on March 13, 2025. The Euro Notes (2031) will be initially fully and unconditionally guaranteed on a senior unsecured basis (the “Guarantees”) by the Company and each of its wholly owned U.S. subsidiaries that are guarantors under our Senior Unsecured Credit Agreement and our CAD Note. The Euro Notes (2031) will also be guaranteed by each of the Company’s U.S. subsidiaries that in the future agrees to guarantee the Company’s obligations under the Senior Unsecured Credit Agreement, the CAD Note, any other Credit Facility Debt or any Capital Markets Debt (both as defined in the Company’s preliminary prospectus supplement filed with the SEC on February 28, 2024).

Prior to December 13, 2030 (the "Par Call Date"), the Euro Notes (2031) are redeemable, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: (1)(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming that the Euro Notes (2031) matured on the Par Call Date) on an annual (ACTUAL/ACTUAL (ICMA)) basis at a rate equal to the Comparable Government Bond Rate (as defined in the Indenture, dated March 13, 2024 (the "Euro Notes (2031) Indenture")) plus 30 basis points, less (b) interest accrued to the date of redemption; and (2) 100% of the principal amount of the Euro Notes (2031) to be redeemed; plus, in either case, accrued and unpaid interest thereon to, but excluding, the redemption date. On or after the Par Call Date, we may redeem the Euro Notes (2031), in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Euro Notes (2031) being redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date.

The Euro Notes (2031) and the Guarantees have been registered under the United States Securities Act of 1933 under the Registration Statement on Form S-3 (File No. 333-277267) filed by the Company with the SEC on February 22, 2024, as supplemented by the prospectus supplement filed by the Company with the SEC on March 1, 2024. In April 2024, the Euro Notes (2031) were approved for listing and registration on the Nasdaq.

Related to the offering and sale of the Euro Notes (2031) in March 2024, we incurred $7 million of fees, which were capitalized as an offset to Long-Term Obligations and are amortized over the term of the Euro Notes (2031).

Euro Notes (2028)

On April 9, 2018, LKQ European Holdings B.V. ("LKQ Euro Holdings"), a wholly-owned subsidiary of LKQ Corporation, completed an offering of €1,000 million aggregate principal amount of senior notes. The offering consisted of €750 million senior notes due 2026 (the "Euro Notes (2026)") and €250 million senior notes due 2028 (the "Euro Notes (2028)" and, together with the Euro Notes (2026), the "Euro Notes (2026/28)") in a private placement conducted pursuant to Regulation S and Rule 144A under the Securities Act of 1933. The proceeds from the offering, together with borrowings under our senior secured credit facility, were used (i) to finance a portion of the consideration paid for the Stahlgruber acquisition, (ii) for general corporate purposes and (iii) to pay related fees and expenses, including the refinancing of net financial debt. The Euro Notes (2026/28) are governed by the Indenture dated as of April 9, 2018 (the “Euro Notes (2026/28) Indenture”) among LKQ Euro Holdings, LKQ Corporation and certain of our subsidiaries (the “Euro Notes (2026/28) Subsidiaries”), the trustee, paying agent, transfer agent, and registrar. On April 1, 2021, we redeemed the Euro Notes (2026).

Interest on the Euro Notes (2028) is payable in arrears on April 1 and October 1 of each year. The Euro Notes (2028) are fully and unconditionally guaranteed by LKQ Corporation and the Euro Notes (2028) Subsidiaries (the "Euro Notes (2028) Guarantors").

The Euro Notes (2028) and the related guarantees are, respectively, LKQ Euro Holdings' and each Euro Notes (2028) Guarantor's senior unsecured obligations and will be subordinated to all of LKQ Euro Holdings' and the Euro Notes (2028) Guarantors' existing and future secured debt to the extent of the assets securing that secured debt. In addition, the Euro Notes (2028) are effectively subordinated to all of the liabilities of our subsidiaries that are not guaranteeing the Euro Notes (2028) to
the extent of the assets of those subsidiaries. The Euro Notes (2028) have been listed on the Global Exchange Market of Euronext Dublin.

The Euro Notes (2028) are redeemable, in whole or in part, at any time at a redemption price of 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date plus a "make whole" premium. On or after April 1, 2023, we may redeem some or all of the Euro Notes (2028) at the applicable redemption prices set forth in the Euro Notes (2026/28) Indenture. We may be required to make an offer to purchase the Euro Notes (2028) upon the sale of certain assets, subject to certain exceptions, and upon a change of control. In addition, in the event of certain developments affecting taxation or under certain other circumstances which, in any case, require the payment of certain additional amounts, we may redeem the Euro Notes (2028) in whole, but not in part, at any time at a redemption price of 100% of the principal amount thereof, plus accrued but unpaid interest, if any, and such certain additional amounts, if any, to the redemption date.
v3.25.4
Derivative Instruments and Hedging Activities
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities Derivative Instruments and Hedging Activities
We are exposed to market risks, including the effect of changes in interest rates, foreign currency exchange rates and commodity prices. Under current policies, we may use derivatives to manage our exposure to variable interest rates on our debt and changing foreign exchange rates for certain foreign currency denominated transactions. We do not hold or issue derivatives for trading purposes.

Derivative Instruments Designated as Cash Flow Hedges

In February 2023, we entered into interest rate swap agreements to mitigate the risk of changing interest rates on our variable interest rate payments related to borrowings under our Senior Unsecured Credit Agreement. Under the terms of the interest rate swap agreements, we pay the fixed interest rate and receive a variable interest rate based on term SOFR that matches a contractually specified rate under the Senior Unsecured Credit Agreement. The agreements include a total $400 million notional amount that matured in February 2025 and a total $300 million notional amount maturing in February 2026 with a weighted average fixed interest rate of 4.23%. In March 2025, we entered into an interest rate swap agreement to replace the agreements that matured in February 2025 that included a total $400 million notional amount with a fixed interest rate of 4.11%. This agreement matured in November 2025. Changes in the fair value of the interest rate swaps are recorded in Accumulated other comprehensive loss and reclassified to Interest expense when the hedged interest payments affect earnings. The activity related to the interest rate swaps is classified in operating activities in our Consolidated Statements of Cash Flows as the activity relates to normal recurring settlements to match interest payments.

All of our interest rate swap contracts have been executed with counterparties that we believe are creditworthy, and we closely monitor the credit ratings of these counterparties.

As of December 31, 2025 and 2024, the notional amounts, balance sheet classification and fair values of our derivative instruments designated as cash flow hedges were as follows (in millions):

December 31, 2025
Notional AmountBalance Sheet CaptionFair Value - Asset / (Liability)
Interest rate swap agreements$300 Other accrued expenses$— 

December 31, 2024
Notional AmountBalance Sheet CaptionFair Value - Asset / (Liability)
Interest rate swap agreements$400 Other accrued expenses$— 
Interest rate swap agreements300 Other noncurrent liabilities(1)

The activity related to our cash flow hedges is included in Note 16, "Accumulated Other Comprehensive Income (Loss)." As of December 31, 2025, we estimate that $1 million of derivative losses (net of tax) included in Accumulated other comprehensive loss will be reclassified into our Consolidated Statements of Income within the next 12 months.
Derivative Instruments Not Designated as Hedges

To manage the foreign currency exposure related to the Uni-Select Acquisition purchase price (denominated in CAD), we entered into foreign exchange contracts in March 2023 to purchase CAD 1.6 billion for approximately $1.2 billion. These contracts did not qualify for hedge accounting, and therefore, the contracts were adjusted to fair value through the results of operations as of each balance sheet date. We reported Gains on foreign exchange contracts - acquisition related on the Consolidated Statements of Income of $49 million for the year ended December 31, 2023. These contracts were settled in July 2023 resulting in total payments received of $49 million.

To manage our foreign currency exposure on other non-functional currency denominated intercompany loans, we enter into short-term foreign currency forward contracts from time to time. We have not elected to apply hedge accounting for these transactions, and therefore the contracts are adjusted to fair value through our results of operations as of each balance sheet date. The effect on our results of operations for these contracts during the years ended December 31, 2025, 2024, and 2023, were not material. The fair values of these short-term derivative instruments that remained outstanding as of year-end were recorded in either Prepaid expenses and other current assets or Other accrued expenses on our Consolidated Balance Sheets and were not material at December 31, 2025 and 2024.

Additionally, we hold other short-term derivative instruments, including foreign currency forward contracts, to manage our exposure to variability in the cash flows related to inventory purchases denominated in a non-functional currency. We have not elected to apply hedge accounting for these transactions. The notional amount and fair value of these contracts at December 31, 2025 and 2024, along with the effect on our results of operations during the years ended December 31, 2025, 2024, and 2023, were not material. The fair values of these contracts were recorded in either Prepaid expenses and other current assets or Other accrued expenses on our Consolidated Balance Sheets.

Gross vs. Net Presentation for Derivative Instruments

While certain derivative instruments executed with the same counterparty are subject to master netting arrangements, we present our cash flow hedge and other derivative instruments on a gross basis on our Consolidated Balance Sheets. The impact of netting the fair values of these contracts would result in an immaterial decrease to Prepaid expenses and other current assets and Other accrued expenses on our Consolidated Balance Sheets at December 31, 2025 and 2024.
v3.25.4
Fair Value Measurements
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Financial Assets and Liabilities Measured at Fair Value

We use the market and income approaches to estimate the fair value of our financial assets and liabilities, and during the year ended December 31, 2025, there were no significant changes in valuation techniques or inputs related to the financial assets or liabilities that we have historically recorded at fair value.

The following table presents information about our financial assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs we utilized to determine such fair value as of December 31, 2025 and 2024 (in millions):
December 31,
20252024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:
Investments - debt securities$70 $— $— $70 $53 $— $— $53 
Investments - equity securities19 — — 19 14 — — 14 
Total Assets$89 $— $— $89 $67 $— $— $67 
Liabilities:
Interest rate swaps$— $— $— $— $— $1 $— $1 
Contingent consideration liabilities— — 3 3 — — 3 3 
Total Liabilities$— $— $3 $3 $— $1 $3 $4 
Investments in debt and equity securities relate to our captive insurance subsidiary and are included in Other noncurrent assets on the Consolidated Balance Sheets. The balance sheet classification of the interest rate swap agreements is presented in Note 19, "Derivative Instruments and Hedging Activities." For contingent consideration liabilities, the entire portion is current at December 31, 2025 and is included in Other current liabilities, while at December 31, 2024, the current portion was included in Other current liabilities and the noncurrent portion was included in Other noncurrent liabilities on the Consolidated Balance Sheets based on the expected timing of the related payments.

We value derivative instruments using a third party valuation model that performs discounted cash flow analysis based on the terms of the contracts and market observable inputs such as current and forward interest rates and current and forward foreign exchange rates.

Our contingent consideration liabilities are related to our business acquisitions. Under the terms of the contingent consideration agreements, payments may be made at specified future dates depending on the performance of the acquired business subsequent to the acquisition. The liabilities for these payments are classified as Level 3 liabilities because the related fair value measurement, which is determined using an income approach, includes significant inputs not observable in the market.

Financial Assets and Liabilities Not Measured at Fair Value

Our debt is reflected on the Consolidated Balance Sheets at cost. The fair value measurements of the borrowings under the credit agreement are classified as Level 2 within the fair value hierarchy since they are determined based upon significant inputs observable in the market, including interest rates on recent financing transactions with similar terms and maturities. We estimated the fair value by calculating the upfront cash payment a market participant would require at December 31, 2025 and 2024 to assume these obligations. The fair values of the U.S. Notes (2028), U.S. Notes (2033), Euro Notes (2028) and Euro Notes (2031) are determined based upon observable market inputs including quoted market prices in markets that are not active, and therefore are classified as Level 2 within the fair value hierarchy.

Based on market conditions as of December 31, 2025 and 2024, the fair value of the borrowings under the Senior Unsecured Credit Agreement reasonably approximated the carrying values of $501 million and $1,164 million, respectively. As of December 31, 2025 and 2024, the fair value of the borrowings under the CAD Note reasonably approximated the carrying values of $510 million and $487 million, respectively.

The following table provides the carrying and fair value for our other financial instruments as of December 31, 2025 and December 31, 2024 (in millions):
As of December 31, 2025
As of December 31, 2024
Carrying ValueFair ValueCarrying ValueFair Value
U.S. Notes (2028)$800 $827 $800 $814 
U.S. Notes (2033)600 642 600 620 
Euro Notes (2028)294 295 259 261 
Euro Notes (2031)881 902 777 796 
v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
We have leases primarily for facilities, vehicles, and equipment.

The amounts recorded on the Consolidated Balance Sheets as of December 31, 2025 and 2024 related to our lease agreements are as follows (in millions):

December 31,
LeasesClassification20252024
Assets
Operating lease ROU assets, netOperating lease assets, net$1,332 $1,256 
Finance lease assets, netProperty, plant and equipment, net103 94 
Total leased assets$1,435 $1,350 
Liabilities
Current
OperatingCurrent portion of operating lease liabilities$253 $222 
FinanceCurrent portion of long-term obligations31 28 
Noncurrent
OperatingLong-term operating lease liabilities, excluding current portion1,145 1,093 
FinanceLong-term obligations, excluding current portion75 69 
Total lease liabilities$1,504 $1,412 

The components of lease expense are as follows (in millions):
Year Ended December 31,
Lease Cost202520242023
Operating lease cost$344 $325 $280 
Short-term lease cost19 19 20 
Variable lease cost131 131 111 
Finance lease cost
Amortization of leased assets31 25 18 
Interest on lease liabilities6 5 3 
Sublease income(5)(5)(5)
Net lease cost$526 $500 $427 

The future lease commitments under our leases at December 31, 2025 are as follows (in millions):

Years Ending December 31,Operating leases
Finance leases (1)
Total
2026$335 $36 $371 
2027298 28 326 
2028250 20 270 
2029204 13 217 
2030160 9 169 
Thereafter483 18 501 
Future lease payments1,730 124 1,854 
Less: Interest332 18 350 
Present value of lease liabilities$1,398 $106 $1,504 
(1)     Amounts are included in the scheduled maturities of long-term obligations in Note 18, "Long-Term Obligations."
As of December 31, 2025, operating lease payments for leases that have not yet commenced totaled $70 million, which includes the synthetic lease arrangements discussed below. These operating leases will commence in the next 7 months with lease terms of 2 to 12 years. Most of these leases have not commenced because the assets are in the process of being constructed.

Synthetic Lease Arrangements

In the fourth quarter of 2024, we entered into two synthetic leases to finance the construction of salvage yard facilities, with an aggregate estimated cost of approximately $100 million. These leases have an aggregate future lease commitment of approximately $35 million as of December 31, 2025. The leases will commence upon completion of construction of the facilities which are expected to be in 2026. Each lease term is five years after commencement. At the end of the leases' terms, we will be required to purchase the facilities or, in the event that option is not elected, to request to extend the leases, or vacate the property and relocate. Upon each lease commencement, the lease classification, right-of-use asset, and lease liability will be determined and recorded. Each lease arrangement contains a residual value guarantee of 100% of the total construction cost. The synthetic leases contain covenants that are consistent with our Senior Unsecured Credit Agreement. See Note 18, "Long-Term Obligations" for further information on our Senior Unsecured Credit Agreement.

Other information related to leases is as follows:

December 31,
Lease Term and Discount Rate20252024
Weighted-average remaining lease term (years)
Operating leases7.07.3
Finance leases6.16.4
Weighted-average discount rate
Operating leases5.75 %5.80 %
Finance leases4.81 %4.96 %

Year Ended December 31,
Supplemental cash flows information (in millions) (1)
202520242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash outflows from operating leases$347 $328 $299 
Financing cash outflows from finance leases30 28 19 
Leased assets obtained in exchange for finance lease liabilities31 49 49 
Leased assets obtained in exchange for operating lease liabilities306 384 310 
(1)    Amounts presented contain results from both continuing and discontinued operations.
v3.25.4
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2025
Employee Benefit Plans [Abstract]  
Employee Benefit Plans Employee Benefit Plans
Defined Benefit Plans

We have funded and unfunded defined benefit plans covering certain employee groups in various European countries and Canada. Local statutory requirements govern many of our European and Canadian plans. The defined benefit plans are mostly closed to new participants and, in some cases, existing participants no longer accrue benefits.
Funded Status

The table below summarizes the funded status of the defined benefit plans (in millions):

December 31,
20252024
Change in projected benefit obligation:
Projected benefit obligation - beginning of year$200 $202 
Service cost6 5 
Interest cost7 7 
Participant contributions2 2 
Actuarial (gain) / loss(8)12 
Benefits paid (1)
(6)(11)
Settlement(5)(2)
Currency impact 21 (15)
Projected benefit obligation - end of year $217 $200 
Change in fair value of plan assets:
Fair value - beginning of year$116 $119 
Actual return on plan assets10 10 
Employer contributions8 7 
Participant contributions2 2 
Benefits paid(6)(11)
Settlement(5)(2)
Currency impact12 (9)
Fair value - end of year$137 $116 
Funded status at end of year (liability)$(80)$(84)
Accumulated benefit obligation$212 $194 
(1)    Includes amounts paid from plan assets as well as amounts paid from Company assets.

The net amounts recognized for defined benefit plans on the Consolidated Balance Sheets were as follows (in millions):

December 31,
20252024
Noncurrent assets$6 $2 
Current liabilities4 4 
Noncurrent liabilities82 82 

The following table summarizes the accumulated benefit obligation and aggregate fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets (in millions):

December 31,
20252024
Accumulated benefit obligation$164 $184 
Aggregate fair value of plan assets83 105 
The following table summarizes the projected benefit obligation and aggregate fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets (in millions):

December 31,
20252024
Projected benefit obligation$170 $191 
Aggregate fair value of plan assets84 105 

The table below summarizes the weighted-average assumptions used to calculate the year-end benefit obligations:

December 31,
20252024
Discount rate used to determine benefit obligation3.6 %3.2 %
Rate of future compensation increase2.3 %2.5 %

Net Periodic Benefit Cost

The table below summarizes the components of net periodic benefit cost for the defined benefit plans (in millions):

 Year Ended December 31,
202520242023
Service cost$6 $5 $4 
Interest cost7 7 6 
Expected return on plan assets (1)
(5)(5)(3)
Amortization of actuarial (gain) loss (2)
(1)— (2)
Net periodic benefit cost$7 $7 $5 
(1)    We use the fair value of our plan assets to calculate the expected return on plan assets.
(2)    Actuarial gains and losses are amortized using a corridor approach for our pension plans. Gains and losses are amortized if, as of the beginning of the year, the cumulative net gain or loss exceeds 10 percent of the greater of the projected benefit obligation or the fair value of the plan assets. Gains and losses in excess of the corridor are amortized over the average remaining service period of active members expected to receive benefits under the plan or, in the case of closed plans, the expected future lifetime of the employees participating in the plan.

The service cost component of net periodic benefit cost was classified in SG&A expenses, while the other components of net periodic benefit cost were classified in Interest income and other income, net in the Consolidated Statements of Income.

The table below summarizes the weighted-average assumptions used to calculate the net periodic benefit cost in the table above:
Year Ended December 31,
202520242023
Discount rate used to determine service cost3.2 %3.7 %3.4 %
Discount rate used to determine interest cost3.2 %3.7 %3.4 %
Rate of future compensation increase2.5 %2.6 %1.9 %
Expected long-term return on plan assets (1)
4.2 %4.3 %3.1 %
(1)    Our expected long-term return on plan assets is determined based on the asset allocation and estimate of future long-term returns by asset class.

Assumed mortality is also a key assumption in determining benefit obligations and net periodic benefit cost. In some of the European and Canadian plans, a price inflation index is also an assumption in determining benefit obligations and net periodic benefit cost.
As of December 31, 2025, the pretax amounts recognized in Accumulated other comprehensive loss consisted of $15 million of net actuarial gains for our defined benefit plans that have not yet been recognized in net periodic benefit cost. Of this amount, we expect $2 million to be recognized as a component of net periodic benefit cost during the year ending December 31, 2026.

Fair Value of Plan Assets

Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants. Investments that are valued using net asset value (or its equivalent) as a practical expedient are excluded from the fair value hierarchy disclosure.

For the unfunded pension plans, we pay the defined benefit plan obligations when they become due. The table below summarizes the fair value of our defined benefit plan assets by asset category within the fair value hierarchy for the funded defined benefit pension plans (in millions):
December 31,
20252024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Insurance contracts (1)
$— $— $67 $67 $— $— $62 $62 
Other (2)
4 — — 4 4 — — 4 
Assets measured by fair value hierarchy$4 $— $67 $71 $4 $— $62 $66 
Assets measured at net asset value (3)
66 50 
Total pension plan assets at fair value$137 $116 
(1)    Investments in insurance contracts represents the cash surrender value of the insurance policy. These amounts are determined by an actuary based on projections of future benefit payments, discount rates, and expected long-term rate of return on assets.
(2)    Represents balances in a refundable tax account held with the Canada Revenue Agency.
(3)    Consists of international bonds, equity, real estate and other investments.

The following table summarizes the changes in fair value measurements of Level 3 investments for the defined benefit plans (in millions):
December 31,
20252024
Balance at beginning of year$62 $66 
Actual return on plan assets:
Relating to assets held at the reporting date3 1 
Purchases, sales and settlements(3)(3)
Currency impact5 (2)
Balance at end of year$67 $62 

Assets for the defined benefit pension plans in Europe are invested primarily in insurance policies. For the defined benefit pension plans in Canada, a portion of the assets representing a subset of inactive plan participants are invested in insurance policies. Under these contracts, we pay premiums to the insurance company, which are based on an internal actuarial analysis performed by the insurance company; the insurance company then funds the pension payments to the plan participants upon retirement.

Employer Contributions and Estimated Future Benefit Payments

During the year ended December 31, 2025, we contributed $8 million to our pension plans. We estimate that contributions to our pension plans during 2026 will be $8 million.
The following table summarizes estimated future benefit payments as of December 31, 2025 (in millions):

Years Ending December 31,Amount
2026$9 
202710 
202810 
202911 
203011 
2031 - 203562 
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block] Income Taxes
The provision for income taxes consists of the following components (in millions):

Year Ended December 31,
 202520242023
Current:
Federal$135 $123 $139 
State35 38 40 
Foreign109 140 117 
Total current provision for income taxes$279 $301 $296 
Deferred:
Federal$(58)$(24)$6 
State(10)(3)2 
Foreign(7)(9)— 
Total deferred (benefit) provision for income taxes$(75)$(36)$8 
Total:
Federal$77 $99 $145 
State25 35 42 
Foreign102 131 117 
Provision for income taxes$204 $265 $304 

Income taxes have been based on the following components of income from continuing operations before provision for income taxes (in millions):
Year Ended December 31,
 202520242023
Domestic$371 $545 $783 
Foreign429 381 440 
Income from continuing operations before provision for income taxes$800 $926 $1,223 
As previously disclosed for the years ended December 31, 2024 and 2023, prior to the adoption of ASU 2023-09, the effective income tax rate differs from the statutory federal income tax rate as follows:
Year Ended December 31,
 20242023
U.S. federal statutory rate21.0 %21.0 %
State income taxes, net of state credits and federal tax impact2.6 %2.8 %
Impact of rates on international operations2.3 %1.2 %
Change in valuation allowances1.2 %0.9 %
Non-deductible expenses0.6 %1.2 %
Gains on foreign exchange contracts - acquisition related— %(0.8)%
Other, net1.0 %(1.5)%
Effective tax rate28.7 %24.8 %

The effective income tax rate for the tax year ended December 31, 2025 differs from the statutory federal income tax rate as follows (in millions):
Year Ended December 31, 2025
U.S. federal statutory rate$168 21.0 %
State income taxes, net of state credits and federal tax impact (1)
16 2.1 %
Foreign tax effects
Switzerland
Deductible impairment(9)(1.2)%
Other1 0.1 %
Germany
Subnational income taxes - trade taxes19 2.4 %
Enacted changes in tax laws or rates(11)(1.4)%
Other(11)(1.4)%
Other foreign jurisdictions21 2.8 %
Effect of cross-border tax laws(2)(0.2)%
Tax credits(2)(0.3)%
Changes in valuation allowances2 0.2 %
Non-taxable or non-deductible expenses
Non-deductible impairment10 1.3 %
Other2 0.2 %
Changes in unrecognized tax benefits1 0.1 %
Other adjustments(1)(0.2)%
Effective tax rate$204 25.5 %
(1)     State taxes in California, Illinois, Florida, Texas, Pennsylvania, New York, and Michigan made up the majority (greater than 50 percent) of the tax effect in this category.

Undistributed earnings of our foreign subsidiaries amounted to approximately $2,399 million at December 31, 2025. Beginning in 2018, the Tax Cuts and Jobs Act generally provided a 100% participation exemption from further U.S. taxation of dividends received from 10-percent or more owned foreign corporations held by U.S. corporate shareholders. Although foreign dividend income is generally exempt from U.S. federal tax in the hands of the U.S. corporate shareholders, either as a result of the participation exemption, or due to the previous taxation of such earnings under the transition tax and Global Intangible Low-Taxed Income regime ("GILTI") regimes, companies must still apply the guidance of ASC 740: Income Taxes to account for the tax consequences of outside basis differences and other tax impacts of their investments in non-U.S. subsidiaries. Further, the 2017 transition tax reduced a majority of the previous outside basis differences in our foreign subsidiaries, and most of any new differences arising have extensive interaction with the GILTI regime.
Based on a review of our global financing and capital expenditure requirements as of December 31, 2025, we continue to plan to permanently reinvest the undistributed earnings of our international subsidiaries. Thus, no deferred U.S. income taxes or potential foreign withholding taxes have been recorded. Due to the complexity of the U.S. tax regime, it remains impractical to estimate the amount of deferred taxes potentially payable were such earnings to be repatriated.

The Organization for Economic Co-operation and Development ("OECD") released a framework, referred to as Pillar Two, to implement a global minimum corporate tax rate of 15% on certain multinational enterprises. Certain countries have enacted legislation to adopt the Pillar Two framework while several countries are considering or still announcing changes to their tax laws to implement the minimum tax directive. On January 5, 2026 the OECD released guidance providing for a Side-by-Side package available for U.S. parented groups beginning for fiscal years beginning on or after January 1, 2026. We have evaluated the developments and do not anticipate any material impact on our financial position, results of operations, or cash flows. We will continue to monitor as additional guidance becomes available.

On July 4, 2025, new U.S. tax legislation was signed into law, commonly referred to as the One Big Beautiful Bill Act ("OBBBA"), which includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act of 2017, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The OBBBA includes the acceleration of fixed asset depreciation, modifications to the capitalization of domestic research and development expenses, modifications to the limitations to the deductibility of interest expense, and modifications to certain international provisions. These new provisions take effect starting in 2025 through 2027. The Company has evaluated the OBBBA enacted during the year and estimated its impact on the consolidated financial statements to be immaterial. We will continue to evaluate the full impact of these legislative changes as additional guidance becomes available.

The significant components of the deferred tax assets and liabilities are as follows (in millions):

December 31,
20252024
Deferred Tax Assets:
Accrued expenses and reserves$42 $57 
Qualified and nonqualified retirement plans19 20 
Inventory30 10 
Accounts receivable18 22 
Interest deduction carryforwards31 30 
Stock-based compensation8 9 
Operating lease liabilities335 346 
Net operating loss carryforwards29 38 
Other32 44 
Total deferred tax assets, gross544 576 
Less: valuation allowance(52)(51)
Total deferred tax assets$492 $525 
Deferred Tax Liabilities:
Goodwill and other intangible assets$304 $373 
Property, plant and equipment90 96 
Trade names74 79 
Operating lease assets, net323 336 
Other16 10 
Total deferred tax liabilities$807 $894 
Net deferred tax liability$(315)$(369)
Deferred tax assets and liabilities are reflected on the Consolidated Balance Sheets as follows (in millions):

December 31,
20252024
Noncurrent deferred tax assets$16 $17 
Noncurrent deferred tax liabilities331 386 

Noncurrent deferred tax assets and noncurrent deferred tax liabilities are included in Other noncurrent assets and Deferred income taxes, respectively, on the Consolidated Balance Sheets.

We have net operating loss carryforwards, primarily for certain international tax jurisdictions, the tax benefits of which totaled approximately $29 million and $38 million at December 31, 2025 and 2024, respectively. At December 31, 2025 and 2024, we had tax credit carryforwards for U.S. and certain U.S. state jurisdictions, the tax benefits of which totaled approximately $4 million and $3 million, respectively. As of December 31, 2025 and 2024, we had interest deduction carryforwards in Italy the tax benefits of which totaled $31 million and $30 million, respectively. As of December 31, 2025 and 2024, valuation allowances of $52 million and $51 million, respectively, were recorded for deferred tax assets related to the foreign interest deduction carryforwards, certain foreign and U.S. net operating loss carryforwards, tax credit, and capital loss carryforwards.

The majority of the net operating losses will generally carry forward until 2035 to 2044. The interest deduction carryforwards in Italy do not expire. Realization of these deferred tax assets is dependent on the generation of sufficient taxable income prior to the expiration dates, where applicable, or in the case of interest deduction carryforward, subject to legislative thin capitalization constraints, typically based on profitability. Based on historical and projected operating results, we believe that it is more likely than not that earnings will be sufficient to realize the deferred tax assets for which valuation allowances have not been provided. While we expect to realize the deferred tax assets, net of valuation allowances, changes in tax laws or in estimates of future taxable income may alter this expectation.

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in millions):

 202520242023
Balance at January 1,$28 $8 $5 
Additions for acquired tax positions— — 6 
Additions based on tax positions related to the current year2 10 — 
Additions based on tax positions related to prior years3 15 3 
Reductions for tax positions of prior year(18)— (1)
Lapse of statutes of limitations— (3)(5)
Settlements with taxing authorities(1)(2)— 
Cumulative translation adjustment1 — — 
Balance at December 31,$15 $28 $8 

Included in the balance of unrecognized tax benefits above as of December 31, 2025, 2024 and 2023, are approximately $15 million, $10 million and $8 million, respectively that, if recognized, would affect the effective tax rate. The balance of unrecognized tax benefits at December 31, 2025, 2024 and 2023 includes an insignificant amount, $18 million, and an insignificant amount of tax benefits that, if recognized, would result in adjustments to deferred taxes.

We recognize interest and penalties accrued related to unrecognized tax benefits as income tax expense. As of the years ended December 31, 2025, 2024 and 2023, we had accumulated interest and penalties of $1 million, attributable to the unrecognized tax benefits noted above. During each of the years ended December 31, 2025, 2024 and 2023, we recorded $1 million or less of interest and penalties through the income tax provision, prior to any reversals for lapses in the statutes of limitations and settlements.

The Company and/or its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various U.S. state and international jurisdictions. With few exceptions, we are no longer subject to U.S. federal, state and local, or international income tax examinations by tax authorities for years before 2019. Adjustments from examinations, if any, are not expected to have a material effect on our Consolidated Financial Statements.
The amounts of income taxes paid (net of refunds) are as follows (in millions):
 Year Ended December 31, 2025
Federal$150 
State32 
Foreign
Germany27 
United Kingdom25 
Canada18 
Other48 
Total foreign118 
Total net income taxes paid$300 

Net income taxes paid were $322 million and $305 million for years ended December 31, 2024 and 2023, respectively.
v3.25.4
Cash, Cash Equivalents and Restricted Cash
 12 Months Ended
Dec. 31, 2025
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents and Restricted Cash Cash, Cash Equivalents and Restricted Cash
The following table provides a reconciliation of Cash and cash equivalents as reported on the Consolidated Balance Sheets to Cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows (in millions):

 December 31, 2025December 31, 2024
Cash and cash equivalents$319 $234 
Restricted cash included in Other noncurrent assets (1)
13 5 
Cash, cash equivalents and restricted cash$332 $239 
(1)     Represents cash held with our captive insurance subsidiary for payments on self-insured claims.
v3.25.4
Investment in Loan Receivable
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Variable Interest Entity Disclosure Investment in Loan Receivable
In 2025, in connection with extending additional credit, we modified the terms of a loan with a supplier to give us the option to acquire the net assets of the supplier for the amount of the loan in the event of default. The net outstanding balance of the loans, including accrued interest and credit loss reserve, was $69 million and $51 million at December 31, 2025 and December 31, 2024, respectively.

The loans are recognized at amortized cost and presented as loan receivables, with $49 million and $20 million reported in Receivables, net of allowance for credit losses as of December 31, 2025 and 2024, respectively, and the remaining balance presented in Other noncurrent assets on the Consolidated Balance Sheets.
Variable Interest Entity
Due to the significant amount of subordinated financial support that the loans represent to the supplier, we determined that the supplier is a variable interest entity (“VIE”). We are also a significant customer of the supplier domestically, with purchases under our exclusive distribution agreements historically representing a meaningful portion of the supplier's revenue. However, we do not represent the primary beneficiary of the VIE, as we do not hold the power to direct the activities that most significantly impact the supplier's economic performance. Specifically, the kick-out rights provided by our option to acquire the supplier only become effective upon loan default and control will occur upon acquisition completion. Therefore, the conditions necessary for us to hold such power have not been met and, as such, we do not consolidate the entity. The maximum exposure to loss that we could experience with respect to the supplier is limited to the net amount of our receivables on our Consolidated Balance Sheet, which was $69 million at December 31, 2025.
v3.25.4
Segment and Geographic Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment and Geographic Information Segment and Geographic Information
We have three operating segments: North America; Europe; and Specialty, each of which is presented as a reportable segment. The segments are organized based on a combination of geographic regions served and the types of product lines offered. They are managed separately, as each business serves distinct customer bases and is impacted by different economic conditions.
The following tables present our financial performance by reportable segment for the periods indicated (in millions):

North AmericaEuropeSpecialtyEliminationsConsolidated
Year Ended December 31, 2025
Revenue:
Third Party$5,650 $6,311 $1,690 $— $13,651 
Intersegment1 — 3 (4)— 
Total segment revenue$5,651 $6,311 $1,693 $(4)$13,651 
Less: (1)
Cost of goods sold3,232 3,884 1,274 
Selling, general and administrative expenses1,622 1,872 319 
Other segment items (2)
(17)(29)(11)
Segment EBITDA$814 $584 $111 $— $1,509 
Total depreciation and amortization (3)
$197 $180 $32 $— $409 
Year Ended December 31, 2024
Revenue:
Third Party$5,762 $6,407 $1,654 $— $13,823 
Intersegment1 — 3 (4)— 
Total segment revenue$5,763 $6,407 $1,657 $(4)$13,823 
Less: (1)
Cost of goods sold3,252 3,953 1,238 
Selling, general and administrative expenses1,588 1,855 315 
Other segment items (2)
(17)(35)(9)
Segment EBITDA$940 $634 $113 $— $1,687 
Total depreciation and amortization (3)
$198 $160 $34 $— $392 
Year Ended December 31, 2023
Revenue:
Third Party$5,281 $6,323 $1,665 $— $13,269 
Intersegment1 — 3 (4)— 
Total segment revenue$5,282 $6,323 $1,668 $(4)$13,269 
Less: (1)
Cost of goods sold2,796 3,886 1,238 
Selling, general and administrative expenses1,550 1,842 305 
Other segment items (2)
(23)(19)(9)
Segment EBITDA$959 $614 $134 $— $1,707 
Total depreciation and amortization (3)
$121 $150 $32 $— $303 
(1)    The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker ("CODM"). Intersegment expenses are included within the amounts shown.
(2)    Amounts primarily represent other non operating income and expenses within each segment, as well as reconciling items to remove depreciation - cost of goods sold and restructuring - cost of goods sold, which are excluded from the calculation of Segment EBITDA. See Note 13, "Restructuring and Transaction Related Expenses" for additional information on the restructuring charges.
(3)    Amounts presented include depreciation and amortization expense recorded within Cost of goods sold and Restructuring and transaction related expenses.
The key measure of segment profit or loss reviewed by our CODM, our Chief Executive Officer, is Segment EBITDA. The CODM uses Segment EBITDA to compare profitability among the segments and evaluate business strategies. Segment EBITDA includes revenue and expenses that are controllable by the segment. Corporate general and administrative expenses are allocated to the segments based on usage, with shared expenses apportioned based on the segment's percentage of consolidated revenue. We calculate Segment EBITDA as Net Income excluding net income and loss attributable to noncontrolling interest; income and loss from discontinued operations; depreciation; amortization; interest; gains and losses on debt extinguishment; income tax expense; restructuring and transaction related expenses; change in fair value of contingent consideration liabilities; other gains and losses related to acquisitions, equity method investments, or divestitures; equity in losses and earnings of unconsolidated subsidiaries; equity investment fair value adjustments; impairment charges; and direct impacts of the Ukraine/Russia conflict.

The table below provides a reconciliation of Net Income to Segment EBITDA (in millions):

Year Ended December 31,
202520242023
Net income$608 $693 $938 
Less: net income attributable to continuing noncontrolling interest1 3 2 
Net income attributable to LKQ stockholders607 690 936 
Less: net income from discontinued operations11 24 4 
Net income from continuing operations attributable to LKQ stockholders596 666 932 
Adjustments:
Depreciation and amortization409 392 303 
Interest expense, net of interest income207 220 162 
Loss on debt extinguishment— — 1 
Provision for income taxes204 265 304 
Equity in earnings of unconsolidated subsidiaries (1)
(1)(8)(15)
Gains on foreign exchange contracts - acquisition related (2)
— — (49)
Equity investment fair value adjustments(1)2 2 
Restructuring and transaction related expenses (3)
42 135 65 
Restructuring expenses - cost of goods sold (3)
— 15 4 
Gains on previously held equity interests— — (3)
Direct impacts of Ukraine/Russia conflict (4)
1 — — 
Impairment of net assets held for sale— — 1 
Impairment of goodwill (5)
52 — — 
Segment EBITDA$1,509 $1,687 $1,707 
(1)    Refer to Note 10, "Equity Method Investments" for further information.
(2)    Refer to Note 3, "Business Combinations" and Note 19, "Derivative Instruments and Hedging Activities" for further information.
(3)    Refer to Note 13, "Restructuring and Transaction Related Expenses" for further information.
(4)    Adjustments include provisions for and subsequent adjustments to reserves for asset recoverability (primarily receivables and inventory).
(5)    Refer to Note 9, "Intangible Assets" for further information.
The following table presents capital expenditures by reportable segment (in millions):

Year Ended December 31,
202520242023
Capital Expenditures
North America
$76 $143 $118 
Europe122 134 163 
Specialty13 21 41 
Total capital expenditures$211 $298 $322 

The following table presents assets by reportable segment (in millions):

December 31, 2025December 31, 2024
Receivables, net of allowance for credit losses
North America$495 $483 
Europe552 528 
Specialty157 102 
Total receivables, net of allowance for credit losses1,204 1,113 
Inventories
North America1,479 1,411 
Europe1,496 1,323 
Specialty451 449 
Total inventories3,426 3,183 
Property, plant and equipment, net
North America651 675 
Europe695 619 
Specialty106 115 
Total property, plant and equipment, net1,452 1,409 
Operating lease assets, net
North America641 668 
Europe544 467 
Specialty147 121 
Total operating lease assets, net1,332 1,256 
Other unallocated assets7,723 7,994 
Total assets$15,137 $14,955 

We report net receivables; inventories; net property, plant and equipment; and net operating lease assets by segment as that information is used by the CODM in assessing segment performance. These assets provide a measure for the operating capital employed in each segment. Unallocated assets include cash and cash equivalents, prepaid expenses and other current and noncurrent assets, goodwill, other intangibles and equity method investments.

Our largest countries of operation are the U.S., followed by Germany and the U.K. Additional European operations are located in the Netherlands, Italy, Czech Republic, Belgium, Austria, Slovakia, France and other European countries. Our operations in other countries include wholesale operations in Canada, remanufacturing operations in Mexico, an aftermarket parts freight consolidation warehouse in Taiwan, and administrative support functions in India.
The following table sets forth our tangible long-lived assets by geographic area (in millions):

December 31, 2025December 31, 2024
Long-lived assets
United States$1,313 $1,350 
Germany369 312 
United Kingdom321 296 
Other countries781 707 
Total long-lived assets$2,784 $2,665 
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Accounting, Policy
Basis of Presentation
The Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") and the rules and regulations of the U.S. Securities and Exchange Commission. We have reclassified certain prior year amounts in the Consolidated Statements of Income and on the Consolidated Balance Sheets for the presentation of discontinued operations as a result of the sale of our Self Service segment. See Note 4, "Discontinued Operations and Divestitures" for additional information.
Consolidation, Policy
Principles of Consolidation

The accompanying Consolidated Financial Statements include the accounts of LKQ Corporation and its subsidiaries. All intercompany transactions and accounts have been eliminated.
Use of Estimates, Policy
Use of Estimates

The preparation of the Consolidated Financial Statements in accordance with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the Consolidated Financial Statements and the reported amounts of revenue and expenses during the reported periods. We base our estimates on historical experience and on various other assumptions that management believes are reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results and outcomes could differ from those estimates.
Foreign Currency Transactions and Translations Policy
Foreign Currency Translation

Our reporting currency is the U.S. dollar. For most of our international operations, the local currency is the functional currency. Assets and liabilities are translated into U.S. dollars at the period-ending exchange rate. Statements of Income amounts are translated to U.S. dollars using monthly average exchange rates during the period. Translation gains and losses are reported as a component of Accumulated other comprehensive income (loss) in stockholders' equity.
Revenue Policy
Revenue Recognition

We recognize revenue when a sales arrangement with a customer exists (e.g., contract, purchase orders, others), the transaction price is fixed or determinable and we have satisfied its performance obligations per the sales arrangement. The majority of our revenue originates from contracts with a single performance obligation to deliver parts, whereby the performance obligation is satisfied when control of the parts is transferred to the customer per the arranged shipping terms. Some of our contracts contain a combination of delivering parts and performing services, which are distinct and accounted for as separate performance obligations. Revenue for the service component is recognized as the services are rendered.
Our revenue is measured at the determinable transaction price, net of any variable considerations granted to customers. Variable considerations include the right to return parts, discounts, rebates, refunds, credits, price concessions, incentives, performance bonuses, or other similar items. These variable considerations are estimated throughout the year based on various factors, including contract terms, historical experience and performance levels.

Sales tax and other tax amounts collected from customers for remittance to governmental authorities are excluded from revenue in the Consolidated Statements of Income and are shown as a current liability on the Consolidated Balance Sheets until remitted.

Any incremental costs to obtain a contract (commissions earned by our sales representatives on product sales) are expensed when incurred, as the amortization period of the asset would be one year or less due to the short-term nature of our contracts.
Cost of Goods and Service
Cost of Goods Sold

Cost of goods sold includes: the price we pay for inventory, net of vendor discounts, rebates or other incentives; inbound freight and other transportation costs to bring inventory into our facilities; and overhead costs related to purchasing, warehousing and transporting our products from our distribution warehouses to our selling locations. For our salvage, remanufactured, refurbished and manufactured products, cost of goods sold also includes direct and indirect labor, equipment costs, depreciation, and other overhead to transform inventory into finished products suitable for sale. Cost of goods sold also includes expenses for service-type and assurance-type warranty programs.
Selling, General and Administrative Expenses, Policy
Selling, General and Administrative Expenses
Selling, general and administrative ("SG&A") expenses include: personnel costs for employees in SG&A functions; costs to operate branch locations, corporate offices and back office support centers; costs to transport products from facilities to our customers; and other expenses, such as professional fees, supplies, and advertising expenses. The costs included in SG&A expenses do not relate to inventory processing or conversion activities, and, as such, are classified below Gross margin in the Consolidated Statements of Income.
Share-Based Compensation Policy
Stock-Based Compensation

For the restricted stock units ("RSUs") that contain both a performance-based vesting condition and a time-based vesting condition, we recognize compensation expense using the accelerated attribution method, pursuant to which expense is recognized straight-line over the requisite service period for each separate vesting tranche of the award. For all other awards, which are subject to only a time-based vesting condition, we recognize compensation expense on a straight-line basis over the requisite service period of the entire award.

For performance-based RSUs ("PSUs"), the expense is calculated using the projected award value, which is based on an estimate of the achievement of the performance objectives, and is recognized on a straight-line basis over the performance period.

The impacts of forfeitures on RSUs and PSUs expense are recorded as they occur.
Income Tax, Policy
Income Taxes

Current income taxes are provided on income reported for financial reporting purposes, adjusted for transactions that do not enter into the computation of income taxes payable in the same year. Deferred income taxes are provided for temporary differences between the tax bases of assets and liabilities and their reported amounts in the financial statements. A valuation allowance is provided for deferred tax assets if it is more likely than not that these items will either expire before we are able to realize their benefit or that future deductibility is uncertain. Provision is made for taxes on undistributed earnings of foreign subsidiaries and related companies to the extent that such earnings are not deemed to be permanently invested.

We recognize the benefits of uncertain tax positions taken or expected to be taken in tax returns in the provision for income taxes only for those positions that are more likely than not to be realized. We follow a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. We consider many factors when evaluating and estimating our tax positions
and tax benefits, which may require periodic adjustments and which may not accurately forecast actual outcomes. Our policy is to include any interest and penalties associated with income tax obligations in income tax expense.
Cash and Cash Equivalents, Policy
Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents include cash on hand, operating accounts, and deposits readily convertible to known amounts of cash. Restricted cash includes any cash that is legally or contractually restricted as to withdrawal or usage.
Receivable
Allowance for Credit Losses
Receivables are reported net of an allowance for credit losses. The allowance is measured on a pool basis when similar risk characteristics exist, and a loss-rate for each pool is determined using historical credit loss experience as the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current conditions (e.g., management's evaluation of the aging of customer receivable balances and the financial condition of our customers) as well as changes in forecasted macroeconomic conditions, such as changes in the unemployment rate, gross domestic product growth rate or credit default rates.
Concentration Risk, Credit Risk, Policy
Concentrations of Credit Risks

Financial instruments that potentially subject us to significant concentration of credit risk consist primarily of cash and cash equivalents and receivables. We control our exposure to credit risk associated with these instruments by (i) placing cash and cash equivalents with several major financial institutions; (ii) holding high-quality financial instruments; and (iii) maintaining strict policies over credit extension that include credit evaluations, credit limits and monitoring procedures. In addition, our overall credit risk with respect to accounts receivable is limited to some extent because our customer base is composed of a large number of geographically diverse customers.
Inventory, Policy
Inventories

Our inventory is stated at the lower of cost or net realizable value. Net realizable value can be influenced by current anticipated demand. If actual demand is lower than our estimates, additional reductions to inventory carrying value would be necessary in the period such determination is made.

The cost of our inventory is determined differently based on the category of inventory; (i) aftermarket and refurbished products, (ii) salvage and remanufactured products, and (iii) manufactured products.

An aftermarket product is a new vehicle product manufactured by a company other than the original equipment manufacturer. For aftermarket products, cost is established based on the average price paid for parts. Inventory cost for aftermarket products includes expenses incurred for freight in and overhead costs; for items purchased from foreign companies, import fees, tariffs and duties and transportation insurance are also included. Refurbished products are parts that require cosmetic repairs, such as wheels, bumper covers and lights; we will apply new parts, products or materials to these parts to produce the finished product. Refurbished inventory cost is based upon the average price we pay for cores, which are recycled automotive parts that are not suitable for sale as a replacement part without further processing. The cost of refurbished inventory also includes expenses incurred for freight in, labor and other overhead costs.

A salvage product is a recycled vehicle part suitable for sale as a replacement part. Salvage product cost is established based upon the price we pay for a vehicle, including auction, storage and towing fees, as well as expenditures for buying and dismantling the vehicle. Inventory carrying value is determined using the average cost to sales percentage at each of our facilities and applying that percentage to the facility's inventory at expected selling prices, the assessment of which incorporates the sales probability based on a part's number of days in stock and historical demand. The average cost to sales percentage is derived from each facility's historical profitability for salvage vehicles. Remanufactured products are used parts that have been inspected, rebuilt, or reconditioned to restore functionality and performance, such as remanufactured engines and transmissions. Remanufactured inventory cost is based upon the price paid for cores and expenses incurred for freight in, direct manufacturing costs and other overhead costs.

A manufactured product is a new vehicle product. Manufactured product inventory can be a raw material, work-in-process or finished good. Manufactured product cost is established using the first-in first-out method.
Property, Plant and Equipment, Policy
Property, Plant and Equipment

Property, plant and equipment are recorded at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives or, in the case of leasehold improvements, the term of the related lease and reasonably assured renewal periods, if shorter. Depreciation expense associated with refurbishing, remanufacturing, manufacturing and furnace operations as well as distribution centers are recorded in Cost of goods sold in the Consolidated Statements of Income. Depreciation expense resulting from restructuring programs is recorded in Restructuring and transaction related expenses in the Consolidated Statements of Income. All other depreciation expense is reported in Depreciation and amortization in the Consolidated Statements of Income.
Expenditures for major additions and improvements that extend the useful life of the related asset are capitalized. Expenditures for maintenance and repairs are recorded as incurred to SG&A expenses in the Consolidated Statements of Income. As property, plant and equipment are sold or retired, the applicable cost and accumulated depreciation are removed from the accounts and any resulting gain or loss thereon is recognized. Construction in progress consists primarily of building and land improvements at our existing facilities.
Goodwill and Intangible Assets, Intangible Assets, Policy
Intangible Assets

Intangible assets consist primarily of goodwill (the cost of purchased businesses in excess of the fair value of the identifiable net assets acquired) and other specifically identifiable intangible assets, such as customer and supplier relationships, trade names, trademarks, software and other technology related assets, and covenants not to compete.

Goodwill and indefinite-lived intangible assets are tested for impairment at least annually. We performed annual impairment tests during the fourth quarters of 2025, 2024, and 2023. Goodwill and indefinite-lived intangible assets impairment testing may also be performed on an interim basis when events or circumstances arise that may lead to impairment, including significant underperformance relative to historical or forecasted operating results, a significant decrease in the market value of an asset or significant negative industry or economic trends. The fair value estimates of our goodwill reporting units were established using weightings of the results of a discounted cash flow methodology and a comparative market multiples approach.

Based on our annual goodwill and indefinite-lived intangible assets impairment test performed in the fourth quarter of 2025, we determined the carrying value of our Specialty reporting unit exceeded the fair value estimate; as a result, we recorded a goodwill impairment charge of $52 million for the year ended December 31, 2025. We determined no other impairments existed when we performed our annual impairment test as both the North America and Europe reporting units had fair value estimates which exceeded the carrying value by at least 48%. See Note 9, "Intangible Assets" for further information on the goodwill impairment charge.
Lessee, Leases
Leases

We determine if an arrangement is a lease at contract inception with lease right-of-use ("ROU") assets and lease liabilities being recognized based on the present value of the future lease payments over the lease term at the commencement date. In determining the present value of future lease payments, we use the incremental borrowing rate based on the information available at commencement date when the implicit rate is not readily determinable. We determine the incremental borrowing rate based on information available at the commencement date. In assessing the ROU asset, we include any lease prepayments and deduct lease incentives. We account for the lease and non-lease components of a contract as a single lease component and for leases with an initial term of 12 months or less, we have elected to not record an ROU asset and lease liability. In assessing the lease term, we include options to renew only when it is reasonably certain that the option will be exercised.

For certain lease agreements, rental payments are adjusted periodically for inflation. Typically, these adjustments are considered variable lease costs. Other variable lease costs consist of certain non-lease components that are disclosed as lease costs due to our election of the practical expedient to combine lease and non-lease components and include items such as variable payments for utilities, property taxes, common area maintenance, sales taxes, and insurance.
Net assets Held for Sale Policy
Net Assets Held for Sale

We record net assets held for sale at the lower of fair value less cost to sell or carrying value. Fair values are based on estimated selling prices, which utilize projected market multiples and any reasonable offers. Due to uncertainties in the estimation process, it is possible that actual results could differ from the estimates used in management's analysis. The inputs utilized in the fair value estimates are classified as Level 3 within the fair value hierarchy. The fair values of the net assets were measured on a
non-recurring basis as of December 31, 2025. As of December 31, 2025 and 2024, assets and liabilities held for sale were insignificant. For the years ended December 31, 2025 and 2023, we recorded an insignificant amount of impairment on our net assets held for sale. In 2024, we divested certain operations in Slovenia, Poland and Bosnia. Our decision to exit these businesses, as well as other factors, constituted a triggering event to evaluate our net assets held for sale for impairment, and as a result, we incurred impairment charges related to these divestitures during the year ended December 31, 2024. See Note 13, "Restructuring and Transaction Related Expenses" for further information related to these impairment charges.
Discontinued Operations, Policy
Discontinued Operations

We classify operations as discontinued when they meet all the criteria to be classified as held for sale and when the sale represents a strategic shift that will have a major impact on our financial condition and results of operations. In determining if a disposal constitutes a strategic shift, we evaluate various qualitative and quantitative factors, an example of which is the impact to segment reporting. We generally consider the disposal of an entire reportable segment to constitute a strategic shift. When operations are identified for discontinued operations reporting, results of operations for all periods presented are reclassified as discontinued operations in the Consolidated Statements of Income, assets and liabilities of the operations are reported as assets and liabilities of discontinued operations on the Consolidated Balance Sheets, and information is recast throughout the notes to the consolidated financial statements to exclude the results of the discontinued operations. Furthermore, FASB Accounting Standards Codification 205-20, "Presentation of Financial Statements - Discontinued Operations" defines what activities may be classified as discontinued operations with general corporate overhead generally not being allocable to discontinued operations. See Note 4, "Discontinued Operations and Divestitures" for further information related to discontinued operations.
Disclosure of Long Lived Assets Held-for-sale
Impairment of Long-Lived Assets

Long-lived assets are reviewed for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. If such review indicates that the carrying amount of long-lived assets is not recoverable, the carrying amount of such assets is reduced to fair value. As a result of the divestitures described in the "Net Assets Held for Sale" section above, we incurred impairment charges to the carrying value of long-lived assets during the year ended December 31, 2024. See Note 13, "Restructuring and Transaction Related Expenses" for further information related to these impairment charges. For our continuing operations, there were no significant impairments to the carrying value of long-lived assets during the years ended December 31, 2025 or 2023.
Equity Method Investments
Equity Method Investments

We account for our investments in unconsolidated subsidiaries using the equity method of accounting, as our investments give us the ability to exercise significant influence, but not control, over the investee. Under the equity method of accounting, the initial investment is recorded at cost and the investment is subsequently adjusted for our proportionate share of earnings or losses and dividends, including consideration of basis differences resulting from the difference between the initial carrying amount of the investment and the underlying equity in net assets, as applicable. Equity method investments are tested for impairment at least annually, and may also be performed on an interim basis when events or circumstances arise that may lead to impairment. We performed annual impairment testing for the years ended December 31, 2025, 2024, and 2023, and based on our testing, we determined no other-than-temporary impairment existed. See Note 10, "Equity Method Investments" for further information related to equity method investments.
Fair Value Measurement, Policy
Financial Assets and Liabilities Measured at Fair Value

We have certain financial assets and liabilities that are measured at fair value within our consolidated financial statements including investments in equity and debt securities as well as our defined benefit plan assets. The tiers in the fair value hierarchy include: Level 1, defined as observable inputs such as quoted market prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as significant unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions. See Note 20, "Fair Value Measurements" and Note 22, "Employee Benefit Plans for further information related our fair value measurements and pension plans.
Warranty Reserve Policy
Warranty Reserve

Assurance-type warranties are not considered a separate performance obligation, and thus no transaction price is allocated to them. Our warranty reserve is calculated using historical claim information to project future warranty claims activity and is recorded within Other accrued expenses and Other noncurrent liabilities on our Consolidated Balance Sheets based on the expected timing to settle the warranty claims. We record warranty costs in Cost of goods sold in our Consolidated Statements of Income.
Self Insurance Reserve
Self-Insurance Reserves

We self-insure a portion of our employee medical benefits under the terms of our employee health insurance program. We purchase certain stop-loss insurance to limit our liability exposure. We also self-insure a portion of our property and casualty risk, which includes automobile liability, general liability, directors and officers liability, workers' compensation, and property coverage, under deductible insurance programs. The insurance premium costs are expensed over the contract periods. A reserve for liabilities associated with these losses is established for claims filed and claims incurred but not yet reported based upon our estimate of the ultimate cost, which is calculated using an analysis of historical data. We monitor new claim and claim developments as well as trends related to the claims incurred but not reported in order to assess the adequacy of our insurance reserves. The current portion of total self-insurance reserves is recorded in Other accrued expenses on the Consolidated Balance Sheets with the noncurrent portion is recorded in Other noncurrent liabilities on the Consolidated Balance Sheets, which reflects management's estimates of when claims will be paid.
Commitments and Contingencies, Policy
Litigation and Related Contingencies

We have certain contingencies resulting from litigation, claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business. We currently expect that the resolution of such contingencies will not materially affect our financial position, results of operations or cash flows.
Treasury Stock, Policy
Treasury Stock

We record common stock purchased for treasury stock at cost. The excise tax on share repurchases initiated on and after January 1, 2023 is included in the cost basis of treasury stock.
New Accounting Pronouncements, Policy
Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." The ASU requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. We adopted the ASU on a prospective basis beginning in this Annual Report on Form 10-K for the year ended December 31, 2025. The adoption of ASU 2023-09 did not have a material impact on our results of operations, financial position or cash flows but did result in additional disclosures. See Note 23, "Income Taxes for further information related to these disclosures.

Recently Issued Accounting Pronouncements

In November 2024, the FASB issued ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” The ASU requires disclosure of specific expense categories within relevant income statement captions. The amendments in this ASU are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The ASU can be adopted prospectively or retrospectively and early adoption is permitted. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software”. This ASU removes references to software development project stages to better align with current software development methods. Under the ASU, an entity will begin capitalizing software costs when management authorizes and commits to funding the software project, and it is probable that the project will be completed and the software will be used for its intended purpose. This update is effective for annual periods
beginning after December 15, 2027, including interim periods within those fiscal years, though early adoption is permitted. This ASU can be adopted either prospectively, retrospectively, or utilizing a modified transition approach. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements.

In November 2025, the FASB issued ASU 2025-09, “Derivatives and Hedging (Topic 815): Hedge Accounting Improvements”, which amends certain aspects of hedge accounting to more closely align with the economics of an entity’s risk management activities. The amendments include changes to the risk assessment for cash flow hedges, hedging forecasted interest payments on choose-your-rate debt instruments, cash flow hedges of nonfinancial forecasted transactions, net written options as hedging instruments and dual hedges of foreign currency denominated debt instruments. This update is effective for annual periods beginning after December 15, 2026, including interim periods within those fiscal years, though early adoption is permitted. This ASU is required to be adopted prospectively for all hedging relationships, with the option to adopt the amendments for hedging relationships that exist as of the adoption date. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements.
v3.25.4
Discontinued Operations and Divestitures (Tables)
 12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Income Statement by Disposal Groups, Including Discontinued Operations
The following table summarizes the comparative financial results of discontinued operations which are presented in Net income from discontinued operations in the Consolidated Statements of Income (in millions):

Year Ended December 31,
 202520242023
Revenue$395 $532 $597 
Cost of goods sold213 305 375 
Gross margin182 227 222 
Impairment on assets held for sale (1)
15 — — 
Selling, general and administrative expenses124 158 173 
Depreciation and amortization9 15 16 
Operating income34 54 33 
Other expense (income):
Interest expense15 24 23 
Interest income and other income, net(1)(2)(2)
Total other expense, net14 22 21 
Income from discontinued operations before provision for income taxes20 32 12 
Provision for income taxes9 8 2 
Net income from discontinued operations$11 $24 $10 
(1)    During the year ended December 31, 2025, we recorded an impairment to write down the carrying value of Self Service to its fair value less costs to sell. This includes an estimate of working capital adjustments recorded in the fourth quarter of 2025.
Balance Sheet by Disposal Groups, Including Discontinued Operations
The major classes of Assets of discontinued operations and Liabilities of discontinued operations for Self Service as of December 31, 2024 stated on the Consolidated Balance Sheets are as follows (in millions):
December 31, 2024
Assets
Current assets:
Receivables, net of allowance for credit losses$9 
Inventories37 
Prepaid expenses and other current assets2 
Total current assets of discontinued operations48 
Property, plant and equipment, net108 
Operating lease assets, net132 
Goodwill274 
Other noncurrent assets1 
Total noncurrent assets of discontinued operations515 
Total assets of discontinued operations$563 
Liabilities
Current liabilities:
Accounts payable$4 
Accrued expenses:
Accrued payroll-related liabilities7 
Refund liability1 
Other accrued expenses6 
Current portion of operating lease liabilities15 
Other current liabilities2 
Total current liabilities of discontinued operations35 
Long-term operating lease liabilities, excluding current portion114 
Long-term obligations, excluding current portion3 
Total noncurrent liabilities of discontinued operations117 
Total liabilities of discontinued operations$152 
Additional Disclosures by Disposal Groups, Including Discontinued Operations
The following table summarizes the significant non-cash operating activities and capital expenditures of the Company’s discontinued operations related to the Self Service segment (in millions):
Year Ended December 31,
 202520242023
Depreciation and amortization$9 $15 $16 
Impairment on assets held for sale15 — — 
Purchases of property, plant and equipment5 13 36 
v3.25.4
Inventories (Tables)
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventory, Current [Table Text Block]
Inventories consist of the following (in millions):
December 31,
20252024
Aftermarket and refurbished products$2,849 $2,659 
Salvage and remanufactured products526 470 
Manufactured products51 54 
Total inventories $3,426 $3,183 
v3.25.4
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
Property, plant and equipment consists of the following (in millions):
December 31,
Useful Life20252024
Land and improvements
10 - 20 years(1)
$234 $222 
Buildings and improvements20 - 40 years520 483 
Machinery and equipment3 - 20 years937 831 
Computer equipment3 - 10 years175 156 
Vehicles and trailers3 - 10 years126 128 
Furniture and fixtures5 - 7 years93 73 
Leasehold improvements1 - 20 years486 427 
Finance lease assets194 161 
2,765 2,481 
Less: Accumulated depreciation(1,352)(1,132)
Construction in progress39 60 
Total property, plant and equipment, net$1,452 $1,409 
(1) Only applies to land improvements as land is not depreciated.
v3.25.4
Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2025
Credit Loss [Abstract]  
Allowance for Credit Losses
A rollforward of our allowance for credit losses is as follows (in millions):
20252024
Balance as of January 1,$56 $61 
Provision for credit losses14 17 
Write-offs(22)(19)
Impact of foreign currency5 (3)
Balance as of December 31, $53 $56 
v3.25.4
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Intangible Assets [Abstract]  
Schedule of Goodwill [Table Text Block]
The changes in the carrying amount of goodwill by reportable segment is as follows (in millions):

North AmericaEuropeSpecialtyTotal
Balance as of January 1, 2024, gross$2,589 $2,298 $471 $5,358 
Accumulated impairment losses as of January 1, 2024(33)— — (33)
Balance as of January 1, 20242,556 2,298 471 5,325 
Business acquisitions and adjustments to previously recorded goodwill4 9 2 15 
Disposal of businesses— (5)— (5)
Exchange rate effects(32)(129)— (161)
Balance as of December 31, 2024$2,528 $2,173 $473 $5,174 
Business acquisitions and adjustments to previously recorded goodwill(1)2 — 1 
Impairment of goodwill— — (52)(52)
Exchange rate effects11 280 — 291 
Balance as of December 31, 2025$2,538 $2,455 $421 $5,414 
Accumulated impairment losses as of December 31, 2025$(33)$— $(52)$(85)
Schedule of Finite-Lived and Indefinite-Lived Intangibles
The components of other intangibles, net are as follows (in millions):

 December 31, 2025December 31, 2024
 Gross
Carrying
Amount		Accumulated
Amortization		NetGross
Carrying
Amount		Accumulated
Amortization		Net
Customer and supplier relationships$1,194 $(636)$558 $1,150 $(505)$645 
Trade names and trademarks561 (302)259 513 (248)265 
Software and other technology related assets482 (308)174 425 (266)159 
Total finite-lived intangible assets2,237 (1,246)991 2,088 (1,019)1,069 
Indefinite-lived trademarks81 — 81 81 — 81 
Total other intangible assets$2,318 $(1,246)$1,072 $2,169 $(1,019)$1,150 
Schedule of Estimated Useful Lives, Finite-Lived Intangible Assets
Estimated useful lives for the finite-lived intangible assets are as follows:
Method of AmortizationUseful Life
Customer and supplier relationshipsAccelerated3-20 years
Trade names and trademarksStraight-line3-30 years
Software and other technology related assetsStraight-line3-15 years
v3.25.4
Equity Method Investments (Tables)
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
The carrying value of our Equity method investments were as follows (in millions):

Segment
Ownership as of December 31, 2025
December 31, 2025December 31, 2024
MEKO AB (1)
Europe26.6%$157 $157 
Other13 12 
Total$170 $169 
(1)    As of December 31, 2025, the Level 1 fair value of our investment in MEKO AB ("Mekonomen") was $115 million based on the quoted market price for Mekonomen's common stock using the same foreign exchange rate as the carrying value. We evaluated our investment in Mekonomen for other-than-temporary impairment and concluded the decline in fair value was not other-than-temporary; however, a prolonged, material impairment may cause us to account for the decline as an other-than-temporary impairment in a future period, resulting in a charge in our Consolidated Statements of Income. Our share of the book value of Mekonomen's net assets exceeded the book value of our investment by $13 million; this difference is primarily related to Mekonomen's Accumulated Other Comprehensive Income balance as of our acquisition date in 2016. We record our equity in the net earnings of Mekonomen on a one quarter lag. We received $7 million in dividend payments from Mekonomen during the year ended December 31, 2025 and $5 million for each of the years ended December 31, 2024 and 2023.
v3.25.4
Warranty Reserve (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Product Warranty Liability [Table Text Block]
The changes in the warranty reserve are as follows (in millions):
20252024
Balance as of January 1,$39 $35 
Warranty expense76 89 
Warranty claims(74)(85)
Balance as of December 31,$41 $39 
v3.25.4
Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue Recognition [Line Items]  
Disaggregation of Revenue [Table Text Block]
The following table sets forth our revenue disaggregated by category and reportable segment (in millions):

Year Ended December 31,
 202520242023
North America$5,329 $5,465 $4,974 
Europe6,287 6,386 6,303 
Specialty1,690 1,654 1,665 
Parts and services13,306 13,505 12,942 
North America321 297 307 
Europe24 21 20 
Other345 318 327 
Total revenue$13,651 $13,823 $13,269 
Variable Consideration
Amounts related to variable consideration on our Consolidated Balance Sheets are as follows (in millions):

December 31,
 Classification20252024
Return assetPrepaid expenses and other current assets$66 $66 
Refund liabilityRefund liability122 125 
Variable consideration reserveReceivables, net of allowance for credit losses148 136 
Revenue from External Customers by Geographic Area The following table sets forth our revenue by geographic area (in millions):
Year Ended December 31,
 202520242023
Revenue
United States$6,221 $6,305 $6,229 
Germany1,830 1,732 1,672 
United Kingdom1,656 1,692 1,679 
Other countries3,944 4,094 3,689 
Total revenue$13,651 $13,823 $13,269 
v3.25.4
Restructuring and Transaction Related Expenses (Tables)
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs
The following table sets forth the expenses incurred related to our restructuring plans (in millions):

Year Ended December 31,
PlanExpense Type202520242023
2024 Global PlanEmployee related costs$15 $35 $— 
Facility exit costs11 7 — 
Inventory related costs (1)
— 13 — 
Asset impairments (2)
— 49 — 
Other costs, net2 7 — 
Total$28 $111 $— 
2022 Global PlanEmployee related costs$— $2 $4 
Facility exit costs— 3 7 
Inventory related costs (1)
— — 2 
Other costs— — 2 
Total$— $5 $15 
2019/2020 Global PlanFacility exit costs$— $— $1 
Total$— $— $1 
1 LKQ Europe PlanEmployee related costs$2 $2 $1 
Facility exit costs— 1 — 
Inventory related costs (1)
— 2 2 
Total$2 $5 $3 
Acquisition Integration PlansEmployee related costs$— $4 $23 
Facility exit costs4 16 5 
Other costs1 5 1 
Total$5 $25 $29 
Total restructuring expenses$35 $146 $48 
(1)    Recorded to Cost of goods sold in the Consolidated Statements of Income.
(2)    Related to impairment of assets in Property, plant and equipment, net and Prepaid expenses and other current assets on the Consolidated Balance Sheets.
Restructuring cumulative plan costs
The following table sets forth the cumulative plan costs by segment related to our restructuring plans (in millions):

Cumulative Program Costs
North AmericaEuropeSpecialtyTotal
2024 Global Plan$30 $109 $— $139 
1 LKQ Europe Plan— 17 — 17 
v3.25.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Nonvested Restricted Stock Units Activity
The following table summarizes activity related to our RSUs under the Equity Incentive Plan for the year ended December 31, 2025 (in millions, except years and per share amounts):
Number Outstanding Weighted Average Grant Date Fair ValueWeighted Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value(1)
Unvested as of January 1, 20251.2 $50.85 
Granted (2)
1.0 $41.02 
Vested(0.7)$47.20 
Forfeited / Canceled(0.1)$45.94 
Unvested as of December 31, 20251.4 $46.02 
Expected to vest after December 31, 20251.3 $45.99 2.7$38 
(1)    The aggregate intrinsic value of expected to vest RSUs represents the total pretax intrinsic value (the fair value of LKQ's stock on the last day of the period multiplied by the number of units) that would have been received by the holders had all the expected to vest RSUs vested. This amount changes based on the market price of LKQ’s common stock.
(2)    The weighted average grant date fair value of RSUs granted during the years ended December 31, 2024 and 2023 was $51.61 and $56.57, respectively.
Schedule of Nonvested Performance-based Units Activity
The following table summarizes activity related to our PSUs under the Equity Incentive Plan for the year ended December 31, 2025 (in millions, except years and per share amounts):
Number OutstandingWeighted Average Grant Date Fair ValueWeighted Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value(1)
Unvested as of January 1, 20250.3 $53.60 
Granted (2)
0.2 $41.27 
Performance-based adjustment (3)
(0.1)$56.84 
Unvested as of December 31, 20250.4 $45.20 
Expected to vest after December 31, 20250.4 $45.27 1.6$11 
(1)     The aggregate intrinsic value of expected to vest PSUs represents the total pretax intrinsic value (the fair value of LKQ's stock on the last day of each period multiplied by the number of units) that would have been received by the holders had all the expected to vest PSUs vested. This amount changes based on the market price of LKQ’s common stock and the achievement of the performance metrics relative to the established targets.
(2)    Represents the number of PSUs at target payout. The weighted average grant date fair value of PSUs granted during the years ended December 31, 2024 and 2023 was $52.08 and $56.83, respectively.
(3)    Represents the net adjustment to the number of shares issuable upon vesting of performance-based PSUs based on the Company's actual financial performance metrics for the three year performance period ended December 31, 2025.
Share based compensation expense and tax benefits
Stock-based compensation expense and the resulting tax benefits included in the Consolidated Statements of Income were as follows (in millions):
Year Ended December 31,
 202520242023
Stock-based compensation expense(1)
$34 $30 $40 
Income tax benefit(7)(7)(9)
Stock-based compensation expense, net of tax$27 $23 $31 
(1)For the years ended December 31, 2025, 2024, and 2023, stock-based compensation included approximately $3 million, $1 million, and $1 million, respectively, for Self Service employees.
Share-based Payment Arrangement, Nonvested Award, Cost
As of December 31, 2025, unrecognized compensation expense related to unvested RSUs and PSUs is expected to be recognized as follows (in millions):
Unrecognized Compensation Expense
2026$22 
202714 
20288 
20294 
Total unrecognized compensation expense$48 
v3.25.4
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
The following chart sets forth the computation of earnings per share (in millions, except per share amounts):

Year Ended December 31,
 202520242023
Income from continuing operations$597 $669 $934 
Denominator for basic earnings per share—Weighted-average shares outstanding257.5 263.6 267.6 
Effect of dilutive securities:
RSUs0.3 0.2 0.5 
PSUs— 0.1 0.2 
Denominator for diluted earnings per share—Adjusted weighted-average shares outstanding257.8263.9268.3
Basic earnings per share from continuing operations$2.32 $2.54 $3.49 
Diluted earnings per share from continuing operations (1)
$2.31 $2.54 $3.48 
(1)    Diluted earnings per share from continuing operations was computed using the treasury stock method for dilutive securities.
v3.25.4
Accumulated Other Comprehensive Income (Loss) (Tables)
 12 Months Ended
Dec. 31, 2025
Accumulated Other Comprehensive Income (Loss) [Line Items]  
Accumulated Other Comprehensive Income (Loss)
The components of Accumulated Other Comprehensive Income (Loss) are as follows (in millions):
 Foreign
Currency
Translation		Unrealized Gain (Loss) on Cash Flow HedgesUnrealized Gain (Loss) on Pension PlansOther Comprehensive Income (Loss) from Unconsolidated SubsidiariesAccumulated
Other Comprehensive Income (Loss)
Balance as of January 1, 2023$(333)$— $11 $(1)$(323)
Pretax income (loss)90 (12)(4)— 74 
Income tax effect— 3 1 — 4 
Reclassification of unrealized gain— (3)(2)— (5)
Reclassification of deferred income taxes— 1 — — 1 
Other comprehensive income from unconsolidated subsidiaries— — — 9 9 
Balance as of December 31, 2023
$(243)$(11)$6 $8 $(240)
Pretax (loss) income(170)7 (8)— (171)
Income tax effect— (2)1 — (1)
Reclassification of unrealized gain— (4)— — (4)
Reclassification of deferred income taxes— 1 — — 1 
Disposal of business2 — — — 2 
Other comprehensive loss from unconsolidated subsidiaries— — — (4)(4)
Balance as of December 31, 2024
$(411)$(9)$(1)$4 $(417)
Pretax income347 1 14 — 362 
Income tax effect— — (2)— (2)
Reclassification of unrealized loss (gain)— 1 (1)— — 
Balance as of December 31, 2025
$(64)$(7)$10 $4 $(57)
v3.25.4
Supply Chain Financing (Tables)
 12 Months Ended
Dec. 31, 2025
Payables and Accruals [Abstract]  
Supplier Chain Financing
A rollforward of obligations confirmed and paid during the year is as follows (in millions):
20252024
Balance as of January 1,$416 $411 
Invoices confirmed during the year891 871 
Confirmed invoices paid during the year(876)(840)
Impact of foreign currency50 (26)
Balance as of December 31, $481 $416 
v3.25.4
Long-Term Obligations (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule Of Long-Term Obligations
Long-term obligations consist of the following (in millions):
December 31, 2025December 31, 2024
Maturity DateInterest RateAmountInterest RateAmount
Senior Unsecured Credit Agreement:
Term loan payableJanuary 20275.19 %$500 5.83 %$500 
Revolving credit facilitiesDecember 20303.13 %
(1)
1 5.86 %
(1)
664 
Senior Unsecured Term Loan Agreement:
Term loan payableMarch 20293.81 %510 4.98 %487 
Unsecured Senior Notes:
U.S. Notes (2028)June 20285.75 %800 5.75 %800 
U.S. Notes (2033)June 20336.25 %600 6.25 %600 
Euro Notes (2028)April 20284.13 %294 4.13 %259 
Euro Notes (2031)March 20314.13 %881 4.13 %777 
Finance lease obligations4.81 %
(1)
106 4.96 %
(1)
97 
Other debtVarious through December 20303.21 %
(1)
3 3.30 %
(1)
11 
Total debt3,695 4,195 
Less: long-term debt issuance costs and unamortized bond discounts(32)(33)
Total debt, net of debt issuance costs and unamortized bond discounts3,663 4,162 
Less: current maturities, net of debt issuance costs(32)(38)
Long-term debt, net of debt issuance costs and unamortized bond discounts$3,631 $4,124 
(1)    Interest rate derived via a weighted average.
Schedule of Maturities of Long-term Debt
The scheduled maturities of long-term obligations outstanding at December 31, 2025 are as follows (in millions):

Amount
2026$32 
2027525 
20281,112 
2029522 
20309 
Thereafter1,495 
Total debt (1)
$3,695 
(1)The total debt amounts presented above reflect the gross values to be repaid (excluding debt issuance costs and unamortized bond discounts of $32 million as of December 31, 2025).
v3.25.4
Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Derivative Instruments [Table Text Block]
As of December 31, 2025 and 2024, the notional amounts, balance sheet classification and fair values of our derivative instruments designated as cash flow hedges were as follows (in millions):

December 31, 2025
Notional AmountBalance Sheet CaptionFair Value - Asset / (Liability)
Interest rate swap agreements$300 Other accrued expenses$— 

December 31, 2024
Notional AmountBalance Sheet CaptionFair Value - Asset / (Liability)
Interest rate swap agreements$400 Other accrued expenses$— 
Interest rate swap agreements300 Other noncurrent liabilities(1)
v3.25.4
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents information about our financial assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs we utilized to determine such fair value as of December 31, 2025 and 2024 (in millions):
December 31,
20252024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:
Investments - debt securities$70 $— $— $70 $53 $— $— $53 
Investments - equity securities19 — — 19 14 — — 14 
Total Assets$89 $— $— $89 $67 $— $— $67 
Liabilities:
Interest rate swaps$— $— $— $— $— $1 $— $1 
Contingent consideration liabilities— — 3 3 — — 3 3 
Total Liabilities$— $— $3 $3 $— $1 $3 $4 
Fair Value Disclosure of Asset and Liability Not Measured at Fair Value
The following table provides the carrying and fair value for our other financial instruments as of December 31, 2025 and December 31, 2024 (in millions):
As of December 31, 2025
As of December 31, 2024
Carrying ValueFair ValueCarrying ValueFair Value
U.S. Notes (2028)$800 $827 $800 $814 
U.S. Notes (2033)600 642 600 620 
Euro Notes (2028)294 295 259 261 
Euro Notes (2031)881 902 777 796 
v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of leases
The amounts recorded on the Consolidated Balance Sheets as of December 31, 2025 and 2024 related to our lease agreements are as follows (in millions):

December 31,
LeasesClassification20252024
Assets
Operating lease ROU assets, netOperating lease assets, net$1,332 $1,256 
Finance lease assets, netProperty, plant and equipment, net103 94 
Total leased assets$1,435 $1,350 
Liabilities
Current
OperatingCurrent portion of operating lease liabilities$253 $222 
FinanceCurrent portion of long-term obligations31 28 
Noncurrent
OperatingLong-term operating lease liabilities, excluding current portion1,145 1,093 
FinanceLong-term obligations, excluding current portion75 69 
Total lease liabilities$1,504 $1,412 
Lease, Cost
The components of lease expense are as follows (in millions):
Year Ended December 31,
Lease Cost202520242023
Operating lease cost$344 $325 $280 
Short-term lease cost19 19 20 
Variable lease cost131 131 111 
Finance lease cost
Amortization of leased assets31 25 18 
Interest on lease liabilities6 5 3 
Sublease income(5)(5)(5)
Net lease cost$526 $500 $427 
Schedule of Maturing of Lease Liabilities
The future lease commitments under our leases at December 31, 2025 are as follows (in millions):

Years Ending December 31,Operating leases
Finance leases (1)
Total
2026$335 $36 $371 
2027298 28 326 
2028250 20 270 
2029204 13 217 
2030160 9 169 
Thereafter483 18 501 
Future lease payments1,730 124 1,854 
Less: Interest332 18 350 
Present value of lease liabilities$1,398 $106 $1,504 
(1)     Amounts are included in the scheduled maturities of long-term obligations in Note 18, "Long-Term Obligations."
Schedule of Lease Term, Discount Rate, and Supplemental Cash Flow Information
Other information related to leases is as follows:

December 31,
Lease Term and Discount Rate20252024
Weighted-average remaining lease term (years)
Operating leases7.07.3
Finance leases6.16.4
Weighted-average discount rate
Operating leases5.75 %5.80 %
Finance leases4.81 %4.96 %

Year Ended December 31,
Supplemental cash flows information (in millions) (1)
202520242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash outflows from operating leases$347 $328 $299 
Financing cash outflows from finance leases30 28 19 
Leased assets obtained in exchange for finance lease liabilities31 49 49 
Leased assets obtained in exchange for operating lease liabilities306 384 310 
(1)    Amounts presented contain results from both continuing and discontinued operations.
v3.25.4
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Employee Benefit Plans [Abstract]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
The table below summarizes the funded status of the defined benefit plans (in millions):

December 31,
20252024
Change in projected benefit obligation:
Projected benefit obligation - beginning of year$200 $202 
Service cost6 5 
Interest cost7 7 
Participant contributions2 2 
Actuarial (gain) / loss(8)12 
Benefits paid (1)
(6)(11)
Settlement(5)(2)
Currency impact 21 (15)
Projected benefit obligation - end of year $217 $200 
Change in fair value of plan assets:
Fair value - beginning of year$116 $119 
Actual return on plan assets10 10 
Employer contributions8 7 
Participant contributions2 2 
Benefits paid(6)(11)
Settlement(5)(2)
Currency impact12 (9)
Fair value - end of year$137 $116 
Funded status at end of year (liability)$(80)$(84)
Accumulated benefit obligation$212 $194 
(1)    Includes amounts paid from plan assets as well as amounts paid from Company assets.
Schedule of Amounts Recognized in Balance Sheet
The net amounts recognized for defined benefit plans on the Consolidated Balance Sheets were as follows (in millions):

December 31,
20252024
Noncurrent assets$6 $2 
Current liabilities4 4 
Noncurrent liabilities82 82 
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets
The following table summarizes the accumulated benefit obligation and aggregate fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets (in millions):

December 31,
20252024
Accumulated benefit obligation$164 $184 
Aggregate fair value of plan assets83 105 
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets
The following table summarizes the projected benefit obligation and aggregate fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets (in millions):

December 31,
20252024
Projected benefit obligation$170 $191 
Aggregate fair value of plan assets84 105 
Defined Benefit Plan, Assumptions
The table below summarizes the weighted-average assumptions used to calculate the year-end benefit obligations:

December 31,
20252024
Discount rate used to determine benefit obligation3.6 %3.2 %
Rate of future compensation increase2.3 %2.5 %
Schedule of Net Benefit Costs
The table below summarizes the components of net periodic benefit cost for the defined benefit plans (in millions):

 Year Ended December 31,
202520242023
Service cost$6 $5 $4 
Interest cost7 7 6 
Expected return on plan assets (1)
(5)(5)(3)
Amortization of actuarial (gain) loss (2)
(1)— (2)
Net periodic benefit cost$7 $7 $5 
(1)    We use the fair value of our plan assets to calculate the expected return on plan assets.
(2)    Actuarial gains and losses are amortized using a corridor approach for our pension plans. Gains and losses are amortized if, as of the beginning of the year, the cumulative net gain or loss exceeds 10 percent of the greater of the projected benefit obligation or the fair value of the plan assets. Gains and losses in excess of the corridor are amortized over the average remaining service period of active members expected to receive benefits under the plan or, in the case of closed plans, the expected future lifetime of the employees participating in the plan.
Defined Benefit Plan, Net Periodic Benefit Cost, Assumptions
The table below summarizes the weighted-average assumptions used to calculate the net periodic benefit cost in the table above:
Year Ended December 31,
202520242023
Discount rate used to determine service cost3.2 %3.7 %3.4 %
Discount rate used to determine interest cost3.2 %3.7 %3.4 %
Rate of future compensation increase2.5 %2.6 %1.9 %
Expected long-term return on plan assets (1)
4.2 %4.3 %3.1 %
(1)    Our expected long-term return on plan assets is determined based on the asset allocation and estimate of future long-term returns by asset class.
Schedule of Allocation of Plan Assets The table below summarizes the fair value of our defined benefit plan assets by asset category within the fair value hierarchy for the funded defined benefit pension plans (in millions):
December 31,
20252024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Insurance contracts (1)
$— $— $67 $67 $— $— $62 $62 
Other (2)
4 — — 4 4 — — 4 
Assets measured by fair value hierarchy$4 $— $67 $71 $4 $— $62 $66 
Assets measured at net asset value (3)
66 50 
Total pension plan assets at fair value$137 $116 
(1)    Investments in insurance contracts represents the cash surrender value of the insurance policy. These amounts are determined by an actuary based on projections of future benefit payments, discount rates, and expected long-term rate of return on assets.
(2)    Represents balances in a refundable tax account held with the Canada Revenue Agency.
(3)    Consists of international bonds, equity, real estate and other investments.
Change In Fair Value Of Plan Assets Level 3
The following table summarizes the changes in fair value measurements of Level 3 investments for the defined benefit plans (in millions):
December 31,
20252024
Balance at beginning of year$62 $66 
Actual return on plan assets:
Relating to assets held at the reporting date3 1 
Purchases, sales and settlements(3)(3)
Currency impact5 (2)
Balance at end of year$67 $62 
Schedule of Expected Benefit Payments
The following table summarizes estimated future benefit payments as of December 31, 2025 (in millions):

Years Ending December 31,Amount
2026$9 
202710 
202810 
202911 
203011 
2031 - 203562 
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
The provision for income taxes consists of the following components (in millions):

Year Ended December 31,
 202520242023
Current:
Federal$135 $123 $139 
State35 38 40 
Foreign109 140 117 
Total current provision for income taxes$279 $301 $296 
Deferred:
Federal$(58)$(24)$6 
State(10)(3)2 
Foreign(7)(9)— 
Total deferred (benefit) provision for income taxes$(75)$(36)$8 
Total:
Federal$77 $99 $145 
State25 35 42 
Foreign102 131 117 
Provision for income taxes$204 $265 $304 
Schedule of Income before Income Tax, Domestic and Foreign
Income taxes have been based on the following components of income from continuing operations before provision for income taxes (in millions):
Year Ended December 31,
 202520242023
Domestic$371 $545 $783 
Foreign429 381 440 
Income from continuing operations before provision for income taxes$800 $926 $1,223 
Schedule of Effective Income Tax Rate Reconciliation
As previously disclosed for the years ended December 31, 2024 and 2023, prior to the adoption of ASU 2023-09, the effective income tax rate differs from the statutory federal income tax rate as follows:
Year Ended December 31,
 20242023
U.S. federal statutory rate21.0 %21.0 %
State income taxes, net of state credits and federal tax impact2.6 %2.8 %
Impact of rates on international operations2.3 %1.2 %
Change in valuation allowances1.2 %0.9 %
Non-deductible expenses0.6 %1.2 %
Gains on foreign exchange contracts - acquisition related— %(0.8)%
Other, net1.0 %(1.5)%
Effective tax rate28.7 %24.8 %

The effective income tax rate for the tax year ended December 31, 2025 differs from the statutory federal income tax rate as follows (in millions):
Year Ended December 31, 2025
U.S. federal statutory rate$168 21.0 %
State income taxes, net of state credits and federal tax impact (1)
16 2.1 %
Foreign tax effects
Switzerland
Deductible impairment(9)(1.2)%
Other1 0.1 %
Germany
Subnational income taxes - trade taxes19 2.4 %
Enacted changes in tax laws or rates(11)(1.4)%
Other(11)(1.4)%
Other foreign jurisdictions21 2.8 %
Effect of cross-border tax laws(2)(0.2)%
Tax credits(2)(0.3)%
Changes in valuation allowances2 0.2 %
Non-taxable or non-deductible expenses
Non-deductible impairment10 1.3 %
Other2 0.2 %
Changes in unrecognized tax benefits1 0.1 %
Other adjustments(1)(0.2)%
Effective tax rate$204 25.5 %
(1)     State taxes in California, Illinois, Florida, Texas, Pennsylvania, New York, and Michigan made up the majority (greater than 50 percent) of the tax effect in this category.
Schedule of Deferred Tax Assets and Liabilities
The significant components of the deferred tax assets and liabilities are as follows (in millions):

December 31,
20252024
Deferred Tax Assets:
Accrued expenses and reserves$42 $57 
Qualified and nonqualified retirement plans19 20 
Inventory30 10 
Accounts receivable18 22 
Interest deduction carryforwards31 30 
Stock-based compensation8 9 
Operating lease liabilities335 346 
Net operating loss carryforwards29 38 
Other32 44 
Total deferred tax assets, gross544 576 
Less: valuation allowance(52)(51)
Total deferred tax assets$492 $525 
Deferred Tax Liabilities:
Goodwill and other intangible assets$304 $373 
Property, plant and equipment90 96 
Trade names74 79 
Operating lease assets, net323 336 
Other16 10 
Total deferred tax liabilities$807 $894 
Net deferred tax liability$(315)$(369)
Schedule of Deferred Tax Assets and Liabilities Classification
Deferred tax assets and liabilities are reflected on the Consolidated Balance Sheets as follows (in millions):

December 31,
20252024
Noncurrent deferred tax assets$16 $17 
Noncurrent deferred tax liabilities331 386 
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in millions):

 202520242023
Balance at January 1,$28 $8 $5 
Additions for acquired tax positions— — 6 
Additions based on tax positions related to the current year2 10 — 
Additions based on tax positions related to prior years3 15 3 
Reductions for tax positions of prior year(18)— (1)
Lapse of statutes of limitations— (3)(5)
Settlements with taxing authorities(1)(2)— 
Cumulative translation adjustment1 — — 
Balance at December 31,$15 $28 $8 
Schedule of Cash Flow, Supplemental Disclosures
The amounts of income taxes paid (net of refunds) are as follows (in millions):
 Year Ended December 31, 2025
Federal$150 
State32 
Foreign
Germany27 
United Kingdom25 
Canada18 
Other48 
Total foreign118 
Total net income taxes paid$300 
v3.25.4
Cash, Cash Equivalents and Restricted Cash (Tables)
 12 Months Ended
Dec. 31, 2025
Cash and Cash Equivalents [Abstract]  
Restrictions on Cash and Cash Equivalents
The following table provides a reconciliation of Cash and cash equivalents as reported on the Consolidated Balance Sheets to Cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows (in millions):

 December 31, 2025December 31, 2024
Cash and cash equivalents$319 $234 
Restricted cash included in Other noncurrent assets (1)
13 5 
Cash, cash equivalents and restricted cash$332 $239 
(1)     Represents cash held with our captive insurance subsidiary for payments on self-insured claims.
v3.25.4
Segment and Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule Of Financial Performance By Reportable Segment
The following tables present our financial performance by reportable segment for the periods indicated (in millions):

North AmericaEuropeSpecialtyEliminationsConsolidated
Year Ended December 31, 2025
Revenue:
Third Party$5,650 $6,311 $1,690 $— $13,651 
Intersegment1 — 3 (4)— 
Total segment revenue$5,651 $6,311 $1,693 $(4)$13,651 
Less: (1)
Cost of goods sold3,232 3,884 1,274 
Selling, general and administrative expenses1,622 1,872 319 
Other segment items (2)
(17)(29)(11)
Segment EBITDA$814 $584 $111 $— $1,509 
Total depreciation and amortization (3)
$197 $180 $32 $— $409 
Year Ended December 31, 2024
Revenue:
Third Party$5,762 $6,407 $1,654 $— $13,823 
Intersegment1 — 3 (4)— 
Total segment revenue$5,763 $6,407 $1,657 $(4)$13,823 
Less: (1)
Cost of goods sold3,252 3,953 1,238 
Selling, general and administrative expenses1,588 1,855 315 
Other segment items (2)
(17)(35)(9)
Segment EBITDA$940 $634 $113 $— $1,687 
Total depreciation and amortization (3)
$198 $160 $34 $— $392 
Year Ended December 31, 2023
Revenue:
Third Party$5,281 $6,323 $1,665 $— $13,269 
Intersegment1 — 3 (4)— 
Total segment revenue$5,282 $6,323 $1,668 $(4)$13,269 
Less: (1)
Cost of goods sold2,796 3,886 1,238 
Selling, general and administrative expenses1,550 1,842 305 
Other segment items (2)
(23)(19)(9)
Segment EBITDA$959 $614 $134 $— $1,707 
Total depreciation and amortization (3)
$121 $150 $32 $— $303 
(1)    The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker ("CODM"). Intersegment expenses are included within the amounts shown.
(2)    Amounts primarily represent other non operating income and expenses within each segment, as well as reconciling items to remove depreciation - cost of goods sold and restructuring - cost of goods sold, which are excluded from the calculation of Segment EBITDA. See Note 13, "Restructuring and Transaction Related Expenses" for additional information on the restructuring charges.
(3)    Amounts presented include depreciation and amortization expense recorded within Cost of goods sold and Restructuring and transaction related expenses.
Reconciliation of Net Income to Segment EBITDA
The table below provides a reconciliation of Net Income to Segment EBITDA (in millions):

Year Ended December 31,
202520242023
Net income$608 $693 $938 
Less: net income attributable to continuing noncontrolling interest1 3 2 
Net income attributable to LKQ stockholders607 690 936 
Less: net income from discontinued operations11 24 4 
Net income from continuing operations attributable to LKQ stockholders596 666 932 
Adjustments:
Depreciation and amortization409 392 303 
Interest expense, net of interest income207 220 162 
Loss on debt extinguishment— — 1 
Provision for income taxes204 265 304 
Equity in earnings of unconsolidated subsidiaries (1)
(1)(8)(15)
Gains on foreign exchange contracts - acquisition related (2)
— — (49)
Equity investment fair value adjustments(1)2 2 
Restructuring and transaction related expenses (3)
42 135 65 
Restructuring expenses - cost of goods sold (3)
— 15 4 
Gains on previously held equity interests— — (3)
Direct impacts of Ukraine/Russia conflict (4)
1 — — 
Impairment of net assets held for sale— — 1 
Impairment of goodwill (5)
52 — — 
Segment EBITDA$1,509 $1,687 $1,707 
(1)    Refer to Note 10, "Equity Method Investments" for further information.
(2)    Refer to Note 3, "Business Combinations" and Note 19, "Derivative Instruments and Hedging Activities" for further information.
(3)    Refer to Note 13, "Restructuring and Transaction Related Expenses" for further information.
(4)    Adjustments include provisions for and subsequent adjustments to reserves for asset recoverability (primarily receivables and inventory).
(5)    Refer to Note 9, "Intangible Assets" for further information.
Schedule Of Capital Expenditures By Reportable Segment
The following table presents capital expenditures by reportable segment (in millions):

Year Ended December 31,
202520242023
Capital Expenditures
North America
$76 $143 $118 
Europe122 134 163 
Specialty13 21 41 
Total capital expenditures$211 $298 $322 
Schedule Of Assets By Reportable Segment
The following table presents assets by reportable segment (in millions):

December 31, 2025December 31, 2024
Receivables, net of allowance for credit losses
North America$495 $483 
Europe552 528 
Specialty157 102 
Total receivables, net of allowance for credit losses1,204 1,113 
Inventories
North America1,479 1,411 
Europe1,496 1,323 
Specialty451 449 
Total inventories3,426 3,183 
Property, plant and equipment, net
North America651 675 
Europe695 619 
Specialty106 115 
Total property, plant and equipment, net1,452 1,409 
Operating lease assets, net
North America641 668 
Europe544 467 
Specialty147 121 
Total operating lease assets, net1,332 1,256 
Other unallocated assets7,723 7,994 
Total assets$15,137 $14,955 
Schedule Of Tangible Long-Lived Assets By Geographic Area
The following table sets forth our tangible long-lived assets by geographic area (in millions):

December 31, 2025December 31, 2024
Long-lived assets
United States$1,313 $1,350 
Germany369 312 
United Kingdom321 296 
Other countries781 707 
Total long-lived assets$2,784 $2,665 
v3.25.4
Summary of Significant Accounting Policies (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Schedule of Goodwill and Other Intangible Assets [Line Items]      
Impairment of goodwill $ 52 $ 0 $ 0
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount 48.00%    
v3.25.4
Business Combinations (Details)
€ in Millions, $ in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2024
USD ($)
Mar. 31, 2024
EUR (€)
Sep. 30, 2023
USD ($)
Sep. 30, 2023
CAD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Business Combination, Separately Recognized Transaction [Line Items]              
Payment to settle Redeemable NCI, Put Option $ 23 € 21          
Europe              
Business Combination, Separately Recognized Transaction [Line Items]              
Business Combination, Number of Businesses Acquired         2 2 4
North America              
Business Combination, Separately Recognized Transaction [Line Items]              
Business Combination, Number of Businesses Acquired           8 3
Specialty [Member]              
Business Combination, Separately Recognized Transaction [Line Items]              
Business Combination, Number of Businesses Acquired             1
Uni-Select Inc.              
Business Combination, Separately Recognized Transaction [Line Items]              
Business Combination, Consideration Transferred     $ 2,100 $ 2,800      
Forward Contracts              
Business Combination, Separately Recognized Transaction [Line Items]              
Gains on foreign exchange contracts - acquisition related         $ 0 $ 0 $ 49
Proceeds from settlement of foreign exchange contracts - acquisition related         $ 0 $ 0 $ 49
v3.25.4
Text Disclosures Discontinued Operations and Divestitures (Details) - USD ($)
$ in Millions
 12 Months Ended
Oct. 01, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Sep. 30, 2025
Dec. 31, 2022
Income Statement by Disposal Groups, Including Discontinued Operations [Line Items]            
Proceeds from disposals of businesses, net of divested cash   $ 397 $ (11)      
Net income from discontinued operations   11 24 $ 4    
Repayments of Long-Term Lines of Credit   2,176 1,553 3,074    
Cash, cash equivalents and restricted cash   332 239 299   $ 278
Cash, cash equivalents and restricted cash of continuing and discontinued operations, end of period (2)   332 239 299    
Less: Cash and cash equivalents of discontinued operations, end of period   0 0 0    
Add: Cash and cash equivalents of discontinued operations, beginning of period     0 0   $ 0
Impairment of goodwill   52 $ 0 0    
Revolving Credit Facility [Member] | Senior Unsecured Credit Agreement - Revolving Credit Facilities            
Income Statement by Disposal Groups, Including Discontinued Operations [Line Items]            
Repayments of Long-Term Lines of Credit $ 390          
Self Service Segment            
Income Statement by Disposal Groups, Including Discontinued Operations [Line Items]            
Disposal Group, Including Discontinued Operation, Consideration         $ 410  
GSF Car Parts            
Income Statement by Disposal Groups, Including Discontinued Operations [Line Items]            
Proceeds from disposals of businesses, net of divested cash       110    
Net income from discontinued operations       $ (6)    
Europe            
Income Statement by Disposal Groups, Including Discontinued Operations [Line Items]            
Impairment of goodwill   $ 0        
v3.25.4
Income Statement by Discontinued Operations and Divestitures (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement by Disposal Groups, Including Discontinued Operations [Line Items]      
Revenue $ 395 $ 532 $ 597
Cost of goods sold 213 305 375
Gross margin 182 227 222
Impairment on assets held for sale 15 0 0
Selling, general and administrative expenses 124 158 173
Depreciation and amortization 9 15 16
Operating income 34 54 33
Interest expense 15 24 23
Interest income and other income, net (1) (2) (2)
Total other expense, net 14 22 21
Income from discontinued operations before provision for income taxes 20 32 12
Provision for income taxes 9 8 2
Net income from discontinued operations 11 24 4
Self Service Segment      
Income Statement by Disposal Groups, Including Discontinued Operations [Line Items]      
Net income from discontinued operations $ 11 $ 24 $ 10
v3.25.4
Balance Sheet by Discontinued Operations and Divestitures (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Balance Sheet by Disposal Groups, Including Discontinued Operations [Line Items]    
Receivables, net of allowance for credit losses   $ 9
Inventories   37
Prepaid expenses and other current assets   2
Current assets of discontinued operations $ 0 48
Property, plant and equipment, net   108
Operating lease assets, net   132
Goodwill   274
Other noncurrent assets   1
Noncurrent assets of discontinued operations 0 515
Total assets of discontinued operations   563
Accounts payable   4
Accrued payroll-related liabilities   7
Refund liability   1
Other accrued expenses   6
Current portion of operating lease liabilities   15
Other current liabilities   2
Current liabilities of discontinued operations 0 35
Long-term operating lease liabilities, excluding current portion   114
Long-term obligations, excluding current portion   3
Noncurrent liabilities of discontinued operations $ 0 117
Total liabilities of discontinued operations   $ 152
v3.25.4
Additional Details Discontinued Operations and Divestitures (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Additional Details by Discontinued Operations and Disposal Groups [Line Items]      
Depreciation and amortization $ 9 $ 15 $ 16
Impairment on assets held for sale 15 0 0
Purchases of property, plant and equipment $ 5 $ 13 $ 36
v3.25.4
Inventories (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Inventory [Line Items]    
Inventories $ 3,426 $ 3,183
AftermarketAndRefurbishedProducts [Member]    
Inventory [Line Items]    
Inventories 2,849 2,659
SalvageAndRemanufacturedProducts [Member]    
Inventory [Line Items]    
Inventories 526 470
ManufacturedProducts [Member]    
Inventory [Line Items]    
Inventories $ 51 $ 54
v3.25.4
Property, Plant and Equipment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Gross $ 2,765 $ 2,481  
Less: Accumulated depreciation (1,352) (1,132)  
Construction in progress 39 60  
Total property, plant and equipment, net 1,452 1,409  
Depreciation 226 210 $ 177
Land and improvements      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Gross $ 234 222  
Land and improvements | Minimum [Member]      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 10 years    
Land and improvements | Maximum      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 20 years    
Building and improvements      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Gross $ 520 483  
Building and improvements | Minimum [Member]      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 20 years    
Building and improvements | Maximum      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 40 years    
Machinery and equipment      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Gross $ 937 831  
Machinery and equipment | Minimum [Member]      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 3 years    
Machinery and equipment | Maximum      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 20 years    
Computer Equipment      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Gross $ 175 156  
Computer Equipment | Minimum [Member]      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 3 years    
Computer Equipment | Maximum      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 10 years    
Vehicles and trailers      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Gross $ 126 128  
Vehicles and trailers | Minimum [Member]      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 3 years    
Vehicles and trailers | Maximum      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 10 years    
Furniture and fixtures      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Gross $ 93 73  
Furniture and fixtures | Minimum [Member]      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 5 years    
Furniture and fixtures | Maximum      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 7 years    
Leasehold improvements      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Gross $ 486 427  
Leasehold improvements | Minimum [Member]      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 1 year    
Leasehold improvements | Maximum      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 20 years    
Finance lease assets      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Gross $ 194 $ 161  
v3.25.4
Self-Insurance Reserves (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Self-Insurance Reserves [Abstract]    
Self Insurance Reserve, Current $ 76 $ 79
Self Insurance Reserve 139 144
Self-Insurance Reserves (Details) [Line Items]    
Outstanding letters of credit 134 114
Self-insurance claims payments    
Self-Insurance Reserves (Details) [Line Items]    
Outstanding letters of credit $ 97 $ 79
v3.25.4
Allowance for Credit Losses (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]      
Accounts Receivable, Allowance for Credit Loss $ 53 $ 56 $ 61
Provision for Credit Loss Expense (Reversal) 14 17 $ 12
Write-offs (22) (19)  
Impact of foreign currency $ 5 $ (3)  
v3.25.4
Schedule of Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Classification [Line Items]      
Balance as of January 1, 2024, gross     $ 5,358
Accumulated Impairment Loss $ (85)   (33)
Business acquisitions and adjustments to previously recorded goodwill 1 $ 15  
Impairment of goodwill 52 0 0
Disposal of businesses   5  
Exchange rate effects 291 (161)  
Goodwill 5,414 5,174 5,325
North America      
Classification [Line Items]      
Balance as of January 1, 2024, gross     2,589
Accumulated Impairment Loss (33)   (33)
Business acquisitions and adjustments to previously recorded goodwill (1) 4  
Impairment of goodwill 0    
Disposal of businesses   0  
Exchange rate effects 11 (32)  
Goodwill 2,538 2,528 2,556
Europe      
Classification [Line Items]      
Balance as of January 1, 2024, gross     2,298
Accumulated Impairment Loss 0   0
Business acquisitions and adjustments to previously recorded goodwill 2 9  
Impairment of goodwill 0    
Disposal of businesses   5  
Exchange rate effects 280 (129)  
Goodwill 2,455 2,173 2,298
Specialty [Member]      
Classification [Line Items]      
Balance as of January 1, 2024, gross     471
Accumulated Impairment Loss (52)   0
Business acquisitions and adjustments to previously recorded goodwill 0 2  
Impairment of goodwill 52    
Disposal of businesses   0  
Exchange rate effects 0 0  
Goodwill $ 421 $ 473 $ 471
v3.25.4
Schedule of Finite-Lived and Indefinite-Lived Intangibles (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Classification [Line Items]    
Finite-Lived Intangible Assets, Gross $ 2,237 $ 2,088
Finite-Lived Intangible Assets, Accumulated Amortization (1,246) (1,019)
Finite-Lived Intangible Assets, Net 991 1,069
Indefinite-lived Intangible Assets (Excluding Goodwill) 81 81
Total other intangible assets 2,318 2,169
Other intangibles, net 1,072 1,150
Customer and supplier relationships    
Classification [Line Items]    
Finite-Lived Intangible Assets, Gross 1,194 1,150
Finite-Lived Intangible Assets, Accumulated Amortization (636) (505)
Finite-Lived Intangible Assets, Net 558 645
Trade names and trademarks    
Classification [Line Items]    
Finite-Lived Intangible Assets, Gross 561 513
Finite-Lived Intangible Assets, Accumulated Amortization (302) (248)
Finite-Lived Intangible Assets, Net 259 265
Software and other technology related assets    
Classification [Line Items]    
Finite-Lived Intangible Assets, Gross 482 425
Finite-Lived Intangible Assets, Accumulated Amortization (308) (266)
Finite-Lived Intangible Assets, Net $ 174 $ 159
v3.25.4
Schedule of Estimated Useful Lives, Finite-Lived Intangible Assets (Details)
Dec. 31, 2025
Minimum [Member] | Customer and supplier relationships  
Classification [Line Items]  
Finite-Lived Intangible Asset, Useful Life 3 years
Minimum [Member] | Trade names and trademarks  
Classification [Line Items]  
Finite-Lived Intangible Asset, Useful Life 3 years
Minimum [Member] | Software and other technology related assets  
Classification [Line Items]  
Finite-Lived Intangible Asset, Useful Life 3 years
Minimum [Member] | Covenants not to compete  
Classification [Line Items]  
Finite-Lived Intangible Asset, Useful Life 2 years
Maximum | Customer and supplier relationships  
Classification [Line Items]  
Finite-Lived Intangible Asset, Useful Life 20 years
Maximum | Trade names and trademarks  
Classification [Line Items]  
Finite-Lived Intangible Asset, Useful Life 30 years
Maximum | Software and other technology related assets  
Classification [Line Items]  
Finite-Lived Intangible Asset, Useful Life 15 years
Maximum | Covenants not to compete  
Classification [Line Items]  
Finite-Lived Intangible Asset, Useful Life 5 years
v3.25.4
Intangible Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Schedule of Finite-Lived Intangible Assets [Line Items]      
Amortization of Intangible Assets $ 183 $ 182 $ 126
Finite-Lived Intangible Asset, Expected Amortization, Year One 170    
Finite-Lived Intangible Asset, Expected Amortization, Year Two 152    
Finite-Lived Intangible Asset, Expected Amortization, Year Three 121    
Finite-Lived Intangible Asset, Expected Amortization, Year Four 105    
Finite-Lived Intangible Asset, Expected Amortization, Year Five $ 97    
Sensitivity Analysis Change In Projected Cash Flows That Would Have Resulted In An Impairment 1.00%    
Additional Impairment Of Goodwill That Would Be Recorded As A Result Of A Change In Projected Cash Flows $ 10    
Sensitivity Analysis Change In Discount Rate That Would Have Resulted In An Impairment 0.25%    
Additional Impairment Of Goodwill That Would Be Recorded As A Result Of A Change In Discount Rate $ 30    
Sensitivity Analysis Change In Market Multiple That Would Have Resulted In An Impairment 1.0    
Additional Impairment Of Goodwill That Would Be Recorded As A Result Of A Change In Market Multiple $ 30    
v3.25.4
Equity Method Investments (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]      
Equity method investments $ 170 $ 169  
Mekonomen [Member]      
Schedule of Equity Method Investments [Line Items]      
Equity method investments $ 157 157  
Equity Method Investment, Ownership Percentage 26.60%    
Equity Method Investments, Fair Value Disclosure $ 115    
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity 13    
Proceeds from Dividends Received 7 5 $ 5
Other      
Schedule of Equity Method Investments [Line Items]      
Equity method investments $ 13 $ 12  
v3.25.4
Warranty Reserve (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
mi
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Commitments and Contingencies Disclosure [Abstract]      
Standard Product Warranty Accrual $ 41 $ 39 $ 35
Warranty expense 76 89  
Warranty claims $ (74) $ (85)  
Remanufactured engines and transmissions | Minimum [Member]      
Classification [Line Items]      
Product Warranty Obligation, Term 12 months    
Remanufactured engines and transmissions | Maximum      
Classification [Line Items]      
Product Warranty Obligation, Term 48 months    
Salvage mechanical Products | Maximum      
Classification [Line Items]      
Product Warranty Obligation, Term 6 months    
Products Warranty Obligation, Term in Miles | mi 6,000    
v3.25.4
Revenue Recognition Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues $ 13,651 $ 13,823 $ 13,269
Other Revenue [Member]      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues 345 318 327
North America      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues 5,651 5,763 5,282
North America | Other Revenue [Member]      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues 321 297 307
Europe      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues 6,311 6,407 6,323
Europe | Other Revenue [Member]      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues 24 21 20
Specialty [Member]      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues 1,693 1,657 1,668
Third Party [Member]      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues 13,651 13,823 13,269
Third Party [Member] | North America      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues 5,650 5,762 5,281
Third Party [Member] | Europe      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues 6,311 6,407 6,323
Third Party [Member] | Specialty [Member]      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues 1,690 1,654 1,665
Parts and Services [Domain]      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues 13,306 13,505 12,942
Parts and Services [Domain] | North America      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues 5,329 5,465 4,974
Parts and Services [Domain] | Europe      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues 6,287 6,386 6,303
Parts and Services [Domain] | Specialty [Member]      
Revenue Recognition Disaggregation of Revenue [Line Items]      
Revenues $ 1,690 $ 1,654 $ 1,665
v3.25.4
Variable Consideration (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Revenue Recognition and Deferred Revenue [Abstract]    
Return asset $ 66 $ 66
Refund liability 122 125
Variable consideration reserve $ 148 $ 136
v3.25.4
Revenue from External Customers by Geographic Areas (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue Recognition [Line Items]      
Revenues $ 13,651 $ 13,823 $ 13,269
UNITED STATES      
Revenue Recognition [Line Items]      
Revenues 6,221 6,305 6,229
GERMANY      
Revenue Recognition [Line Items]      
Revenues 1,830 1,732 1,672
UNITED KINGDOM      
Revenue Recognition [Line Items]      
Revenues 1,656 1,692 1,679
Other countries      
Revenue Recognition [Line Items]      
Revenues $ 3,944 $ 4,094 $ 3,689
v3.25.4
Restructuring and Transaction Related Expenses (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs $ 35 $ 146 $ 48
Transaction Related Expenses $ 7 4 21
Mekonomen [Member]      
Restructuring Cost and Reserve [Line Items]      
Equity Method Investment, Ownership Percentage 26.60%    
2024 Global Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs $ 28 111 0
Restructuring and Related Cost, Cost Incurred to Date 139    
2024 Global Restructuring | Employee related costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 15 35 0
2024 Global Restructuring | Facility Closing      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 11 7 0
2024 Global Restructuring | Inventory Related Costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 13 0
2024 Global Restructuring | Asset Impairments      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 49 0
2024 Global Restructuring | Other Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 2 7 0
2022 Global Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 5 15
2022 Global Restructuring | Employee related costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 2 4
2022 Global Restructuring | Facility Closing      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 3 7
2022 Global Restructuring | Inventory Related Costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 0 2
2022 Global Restructuring | Other Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 0 2
2019/2020 Global Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 0 1
2019/2020 Global Restructuring | Facility Closing      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 0 1
1 LKQ Europe Plan      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 2 5 3
Restructuring and Related Cost, Cost Incurred to Date 17    
1 LKQ Europe Plan | Employee related costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 2 2 1
1 LKQ Europe Plan | Facility Closing      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 1 0
1 LKQ Europe Plan | Inventory Related Costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 2 2
Acquisition integration plans      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 5 25 29
Acquisition integration plans | Employee related costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 0 4 23
Acquisition integration plans | Facility Closing      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 4 16 5
Acquisition integration plans | Other Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring Costs 1 $ 5 $ 1
Strategic Restructuring and Transformation Initiatives      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Expected Cost 65    
North America | 2024 Global Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Cost Incurred to Date 30    
North America | 1 LKQ Europe Plan      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Cost Incurred to Date 0    
Europe | 2024 Global Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Cost Incurred to Date 109    
Europe | 1 LKQ Europe Plan      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Cost Incurred to Date 17    
Specialty [Member] | 2024 Global Restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Cost Incurred to Date 0    
Specialty [Member] | 1 LKQ Europe Plan      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Cost Incurred to Date $ 0    
v3.25.4
Stock-Based Compensation Schedule of Unvested Restricted Stock Units Activity (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Shares Outstanding [Abstract]      
RSUs granted, shares 223,778 228,570 169,511
RSUs      
Shares Outstanding [Abstract]      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number 1,400,000 1,200,000  
RSUs granted, shares 1,000,000.0    
RSUs vested, shares (700,000)    
RSUs forfeited/canceled, shares (100,000)    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected To Vest, Number 1,300,000    
RSUs forfeited/canceled, weighted average grant date fair value $ 45.94    
lkq_expected_to_vest_other_than_options_weighted_average_per_share 45.99    
Weighted Average Fair Value [Abstract]      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value 46.02 $ 50.85  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value 41.02 $ 51.61 $ 56.57
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value $ 47.20    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms 2 years 8 months 12 days    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested $ 38    
Fair value of RSUs vested during the period $ 25 $ 31 $ 38
RSUs | Maximum      
Weighted Average Fair Value [Abstract]      
Vesting period 5 years    
Performance Based RSU [Member]      
Shares Outstanding [Abstract]      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number 400,000 300,000  
RSUs granted, shares 200,000    
Performance-based adjustment (3) (100,000)    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected To Vest, Number 400,000    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Performance-based adjustment, Weighted Average Grant Date Fair Value $ 56.84    
lkq_expected_to_vest_other_than_options_weighted_average_per_share 45.27    
Weighted Average Fair Value [Abstract]      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value 45.20 $ 53.60  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value $ 41.27 $ 52.08 $ 56.83
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms 1 year 7 months 6 days    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested $ 11    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Performance Period 3 years    
Fair value of RSUs vested during the period $ 1 $ 11 $ 13
Performance Shares [Member] | Maximum      
Weighted Average Fair Value [Abstract]      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Positive Dilutive Reporting Period 5 years    
v3.25.4
Schedule of Stock-Based Compensation Expense Expected to be Recognized (Details) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award      
Stock-based compensation expense $ 34 $ 30 $ 40
Income tax benefit (7) (7) (9)
Stock-based compensation expense, net of tax 27 23 31
Unrecognized Stock Based Compensation Expense Expected To Be Recognize In Year One 22    
Unrecognized Stock Based Compensation Expense Expected To Be Recognize In Year Two 14    
Unrecognized Stock Based Compensation Expense Expected To Be Recognize In Year Three 8    
Unrecognized Stock Based Compensation Expense Expected To Be Recognize In Year Four 4    
Unrecognized Stock Based Compensation Expense Expected To Be Recognized Total $ 48    
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized 70.0    
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant 6.2    
Self Service Segment      
Share-based Compensation Arrangement by Share-based Payment Award      
Stock-based compensation expense $ 3 $ 1 $ 1
v3.25.4
Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Classification [Line Items]      
Income from continuing operations $ 597 $ 669 $ 934
Denominator for basic earnings per share—Weighted-average shares outstanding 257.5 263.6 267.6
Denominator for diluted earnings per share—Adjusted weighted-average shares outstanding 257.8 263.9 268.3
Basic earnings per share from continuing operations $ 2.32 $ 2.54 $ 3.49
Diluted earnings per share from continuing operations $ 2.31 $ 2.54 $ 3.48
RSUs      
Classification [Line Items]      
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements 0.3 0.2 0.5
Performance Based RSU [Member]      
Classification [Line Items]      
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements 0.0 0.1 0.2
v3.25.4
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance as of December 31, 2025 $ 6,561 $ 6,032 $ 6,181 $ 5,467
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Pretax income (loss) 347 (170) 90  
Income tax effect 0 0 0  
Reclassification of unrealized (gain) loss 0 0 0  
Reclassification of deferred income taxes   0 0  
Disposal of business   2    
Other comprehensive income (loss) from unconsolidated subsidiaries   0 0  
Balance as of December 31, 2025 (64) (411) (243) (333)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Pretax income (loss) 14 (8) (4)  
Income tax effect (2) 1 1  
Reclassification of unrealized (gain) loss (1) 0 (2)  
Reclassification of deferred income taxes   0 0  
Disposal of business   0    
Other comprehensive income (loss) from unconsolidated subsidiaries   0 0  
Balance as of December 31, 2025 10 (1) 6 11
Accumulated Gain (Loss) from Unconsoldated Subsidiaries [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Pretax income (loss) 0 0 0  
Income tax effect 0 0 0  
Reclassification of unrealized (gain) loss 0 0 0  
Reclassification of deferred income taxes   0 0  
Disposal of business   0    
Other comprehensive income (loss) from unconsolidated subsidiaries   (4) 9  
Balance as of December 31, 2025 4 4 8 (1)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Pretax income (loss) 1 7 (12)  
Income tax effect 0 (2) 3  
Reclassification of unrealized (gain) loss 1 (4) (3)  
Reclassification of deferred income taxes   1 1  
Disposal of business   0    
Other comprehensive income (loss) from unconsolidated subsidiaries   0 0  
Balance as of December 31, 2025 (7) (9) (11) 0
Accumulated Other Comprehensive Income (Loss)        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Pretax income (loss) 362 (171) 74  
Income tax effect (2) (1) 4  
Reclassification of unrealized (gain) loss 0 (4) (5)  
Reclassification of deferred income taxes   1 1  
Disposal of business   2    
Other comprehensive income (loss) from unconsolidated subsidiaries   (4) 9  
Balance as of December 31, 2025 $ (57) $ (417) $ (240) $ (323)
v3.25.4
Supply Chain Financing (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Supplier Finance Program [Line Items]      
Supplier Finance Program, Obligation $ 481 $ 416 $ 411
Invoices confirmed during the year 891 871  
Confirmed invoices paid during the year (876) (840)  
Impact of foreign currency $ 50 $ (26)  
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration] Accounts payable    
v3.25.4
Schedule of Long-Term Obligations (Details)
€ in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Mar. 13, 2024
EUR (€)
May 24, 2023
USD ($)
Apr. 09, 2018
EUR (€)
Debt Instrument            
Total debt $ 3,695 $ 4,195        
Less: long-term debt issuance costs and unamortized bond discounts (32) (33)        
Total debt, net of debt issuance costs and unamortized bond discounts 3,663 4,162        
Less: current maturities, net of debt issuance costs (32) (38)        
Long-term obligations, excluding current portion 3,631 4,124        
Finance lease obligations $ 106 $ 97        
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] Long-term obligations, excluding current portion Long-term obligations, excluding current portion        
Finance Lease, Weighted Average Discount Rate, Percent 4.81% 4.96%        
Interest $ 230 $ 230 $ 197      
Senior Unsecured Credit Agreement - Term Loan Payable            
Debt Instrument            
Term loan payable $ 500 $ 500        
Interest rate 5.19% 5.83%        
Senior Unsecured Credit Agreement - Revolving Credit Facilities            
Debt Instrument            
Revolving credit facilities $ 1 $ 664        
Weighted average interest rates 3.13% 5.86%        
Senior Unsecured Term Loan Credit Agreement (CAD Note)            
Debt Instrument            
Term loan payable $ 510 $ 487        
Interest rate 3.81% 4.98%        
U.S. Note 2028            
Debt Instrument            
Long-term Debt $ 800 $ 800        
Interest rate 5.75% 5.75%        
U.S. Notes 2033            
Debt Instrument            
Long-term Debt $ 600 $ 600        
Interest rate 6.25% 6.25%        
Euro Notes 2028            
Debt Instrument            
Long-term Debt $ 294 $ 259        
Interest rate 4.13% 4.13%        
Euro Notes 2031            
Debt Instrument            
Long-term Debt $ 881 $ 777   € 750    
Interest rate 4.13% 4.13%   4.125%    
Other Debt            
Debt Instrument            
Other Debt $ 3 $ 11        
Weighted average interest rates 3.21% 3.30%        
Twenty Twenty Four [Domain] | Euro Notes 2024            
Debt Instrument            
Long-term Debt | €       € 500    
TwentyTwentySix [Member] | Euro Notes 2026            
Debt Instrument            
Long-term Debt | €           € 750
TwentyTwentyEight [Member] | U.S. Note 2028            
Debt Instrument            
Long-term Debt         $ 800  
TwentyTwentyEight [Member] | Euro Notes 2028            
Debt Instrument            
Long-term Debt | €           € 250
v3.25.4
Scheduled Maturities of Long-Term Obligations (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Scheduled Maturities of Long-Term Obligations [Line Items]    
2026 $ 32  
2027 525  
2028 1,112  
2029 522  
2030 9  
Thereafter 1,495  
Total debt 3,695 $ 4,195
Less: long-term debt issuance costs and unamortized bond discounts $ 32 $ 33
v3.25.4
Long-Term Obligations - Additional Information (Details)
€ in Millions, $ in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Mar. 13, 2024
EUR (€)
May 24, 2023
USD ($)
Mar. 27, 2023
CAD ($)
Jan. 05, 2023
USD ($)
Apr. 09, 2018
EUR (€)
Euro Notes 2024 | Twenty Twenty Four [Domain]              
Additional Information [Line Items]              
Long-term Debt | €     € 500        
Euro Notes 2026/28 [Member]              
Additional Information [Line Items]              
Long-term Debt | €             € 1,000
Euro Notes 2026 | TwentyTwentySix [Member]              
Additional Information [Line Items]              
Long-term Debt | €             750
Euro Notes 2028 | TwentyTwentyEight [Member]              
Additional Information [Line Items]              
Long-term Debt | €             € 250
Euro Notes 2028              
Additional Information [Line Items]              
Long-term Debt $ 294 $ 259          
Debt Instrument, Redemption Price, Percentage 100.00%            
Interest rate 4.13% 4.13%          
Revolving Credit Facility [Member] | Senior Unsecured Credit Agreement - Revolving Credit Facilities              
Additional Information [Line Items]              
Line of Credit Facility, Maximum Borrowing Capacity           $ 2,000  
Sublimit for the Issuance of Letters of Credit           150  
Sublimit for the Issuance of Swing Line Loans           150  
Unsecured Term Loan Facility           $ 500  
Senior Unsecured Term Loan Credit Agreement (CAD Note)              
Additional Information [Line Items]              
Term loan payable $ 510 $ 487          
Interest rate 3.81% 4.98%          
Senior Unsecured Term Loan Credit Agreement (CAD Note) | Uni-Select Inc.              
Additional Information [Line Items]              
Term loan payable         $ 700    
U.S. Notes 2028 2033              
Additional Information [Line Items]              
Long-term Debt       $ 1,400      
Debt Instrument, Redemption Price, Percentage 100.00%            
U.S. Note 2028 | TwentyTwentyEight [Member]              
Additional Information [Line Items]              
Long-term Debt       800      
U.S. Note 2028              
Additional Information [Line Items]              
Long-term Debt $ 800 $ 800          
Interest rate 5.75% 5.75%          
U.S. Notes 2033              
Additional Information [Line Items]              
Long-term Debt $ 600 $ 600          
Interest rate 6.25% 6.25%          
U.S. Notes 2033 | TwentyThirtyThree              
Additional Information [Line Items]              
Long-term Debt       $ 600      
Euro Notes 2031              
Additional Information [Line Items]              
Long-term Debt $ 881 $ 777 € 750        
Debt Instrument, Redemption Price, Percentage 100.00%            
Interest rate 4.13% 4.13% 4.125%        
Debt Instrument, Fee Amount $ 7            
v3.25.4
Derivative Instruments and Hedging Activities (Details)
$ in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Mar. 05, 2025
USD ($)
Mar. 15, 2023
USD ($)
Mar. 15, 2023
CAD ($)
Feb. 17, 2023
USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net $ (1)            
Interest Rate Swap [Member] | Interest Rate Swap Maturing in February 2025              
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Derivative, Notional Amount             $ 400
Interest Rate Swap [Member] | Interest Rate Swap Maturing in February 2026              
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Derivative, Notional Amount             $ 300
Derivative, Fixed Interest Rate             4.23%
Interest Rate Swap [Member] | Interest Rate Swap Maturing in November 2025              
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Derivative, Notional Amount       $ 400      
Derivative, Fixed Interest Rate       4.11%      
Forward Contracts              
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Derivative, Notional Amount         $ 1,200 $ 1,600  
Gains on foreign exchange contracts - acquisition related 0 $ 0 $ 49        
Proceeds from settlement of foreign exchange contracts - acquisition related $ 0 $ 0 $ 49        
v3.25.4
Schedule of Derivative Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Feb. 17, 2023
Fair Value, Recurring [Member]      
Classification [Line Items]      
Liabilities, Fair Value Disclosure $ 3 $ 4  
Fair Value, Recurring [Member] | Interest Rate Swap [Member]      
Classification [Line Items]      
Liabilities, Fair Value Disclosure 0 1  
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]      
Classification [Line Items]      
Liabilities, Fair Value Disclosure 0 1  
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Interest Rate Swap [Member]      
Classification [Line Items]      
Liabilities, Fair Value Disclosure 0 1  
Interest Rate Swap [Member] | Interest Rate Swap Maturing in February 2026      
Classification [Line Items]      
Derivative, Notional Amount     $ 300
Interest Rate Swap [Member] | Interest Rate Swap Maturing in February 2025      
Classification [Line Items]      
Derivative, Notional Amount     $ 400
Accrued liabilities, current | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Interest Rate Swap [Member] | Interest Rate Swap Maturing in February 2026      
Classification [Line Items]      
Liabilities, Fair Value Disclosure 0    
Accrued liabilities, current | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Interest Rate Swap [Member] | Interest Rate Swap Maturing in February 2025      
Classification [Line Items]      
Liabilities, Fair Value Disclosure   0  
Accrued liabilities, current | Interest Rate Swap [Member] | Interest Rate Swap Maturing in February 2026      
Classification [Line Items]      
Derivative, Notional Amount $ 300    
Accrued liabilities, current | Interest Rate Swap [Member] | Interest Rate Swap Maturing in February 2025      
Classification [Line Items]      
Derivative, Notional Amount   400  
Other Noncurrent Liabilities | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Interest Rate Swap [Member] | Interest Rate Swap Maturing in February 2026      
Classification [Line Items]      
Liabilities, Fair Value Disclosure   1  
Other Noncurrent Liabilities | Interest Rate Swap [Member] | Interest Rate Swap Maturing in February 2026      
Classification [Line Items]      
Derivative, Notional Amount   $ 300  
v3.25.4
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Classification [Line Items]    
Assets, Fair Value Disclosure $ 89 $ 67
Liabilities, Fair Value Disclosure 3 4
Debt Securities    
Classification [Line Items]    
Assets, Fair Value Disclosure 70 53
Equity Securities    
Classification [Line Items]    
Assets, Fair Value Disclosure 19 14
Interest Rate Swap [Member]    
Classification [Line Items]    
Liabilities, Fair Value Disclosure 0 1
Contingent Consideration Liabilities [Member]    
Classification [Line Items]    
Liabilities, Fair Value Disclosure 3 3
Fair Value, Inputs, Level 1 [Member]    
Classification [Line Items]    
Assets, Fair Value Disclosure 89 67
Liabilities, Fair Value Disclosure 0 0
Fair Value, Inputs, Level 1 [Member] | Debt Securities    
Classification [Line Items]    
Assets, Fair Value Disclosure 70 53
Fair Value, Inputs, Level 1 [Member] | Equity Securities    
Classification [Line Items]    
Assets, Fair Value Disclosure 19 14
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]    
Classification [Line Items]    
Liabilities, Fair Value Disclosure 0 0
Fair Value, Inputs, Level 1 [Member] | Contingent Consideration Liabilities [Member]    
Classification [Line Items]    
Liabilities, Fair Value Disclosure 0 0
Fair Value, Inputs, Level 2 [Member]    
Classification [Line Items]    
Assets, Fair Value Disclosure 0 0
Liabilities, Fair Value Disclosure 0 1
Fair Value, Inputs, Level 2 [Member] | Debt Securities    
Classification [Line Items]    
Assets, Fair Value Disclosure 0 0
Fair Value, Inputs, Level 2 [Member] | Equity Securities    
Classification [Line Items]    
Assets, Fair Value Disclosure 0 0
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]    
Classification [Line Items]    
Liabilities, Fair Value Disclosure 0 1
Fair Value, Inputs, Level 2 [Member] | Contingent Consideration Liabilities [Member]    
Classification [Line Items]    
Liabilities, Fair Value Disclosure 0 0
Fair Value, Inputs, Level 3 [Member]    
Classification [Line Items]    
Assets, Fair Value Disclosure 0 0
Liabilities, Fair Value Disclosure 3 3
Fair Value, Inputs, Level 3 [Member] | Debt Securities    
Classification [Line Items]    
Assets, Fair Value Disclosure 0 0
Fair Value, Inputs, Level 3 [Member] | Equity Securities    
Classification [Line Items]    
Assets, Fair Value Disclosure 0 0
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]    
Classification [Line Items]    
Liabilities, Fair Value Disclosure 0 0
Fair Value, Inputs, Level 3 [Member] | Contingent Consideration Liabilities [Member]    
Classification [Line Items]    
Liabilities, Fair Value Disclosure $ 3 $ 3
v3.25.4
Fair Value Measurements (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Senior Unsecured Credit Agreement - Revolving Credit Facilities    
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Long-term Line of Credit $ 501 $ 1,164
Senior Unsecured Term Loan Credit Agreement (CAD Note)    
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Term loan payable $ 510 $ 487
v3.25.4
Fair Value Disclosure of Asset and Liability Not Measured at Fair Value (Details)
€ in Millions, $ in Millions
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Mar. 13, 2024
EUR (€)
U.S. Note 2028      
Classification [Line Items]      
Long-term Debt $ 800 $ 800  
Long-term Debt, Fair Value 827 814  
U.S. Notes 2033      
Classification [Line Items]      
Long-term Debt 600 600  
Long-term Debt, Fair Value 642 620  
Euro Notes 2028      
Classification [Line Items]      
Long-term Debt 294 259  
Long-term Debt, Fair Value 295 261  
Euro Notes 2031      
Classification [Line Items]      
Long-term Debt 881 777 € 750
Long-term Debt, Fair Value $ 902 $ 796  
v3.25.4
Balance Sheet Leases (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating lease assets, net $ 1,332 $ 1,256
Finance Lease, Right-of-Use Asset, after Accumulated Amortization $ 103 $ 94
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Total property, plant and equipment, net Total property, plant and equipment, net
Lease Right-of-Use-Asset $ 1,435 $ 1,350
Current portion of operating lease liabilities 253 222
Finance Lease, Liability, Current 31 28
Long-term operating lease liabilities, excluding current portion 1,145 1,093
Finance Lease, Liability, Noncurrent $ 75 $ 69
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] Long-term obligations, excluding current portion Long-term obligations, excluding current portion
Lease Liability $ 1,504 $ 1,412
v3.25.4
Lease Cost (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating lease cost $ 344 $ 325 $ 280
Short-term lease cost 19 19 20
Variable lease cost 131 131 111
Amortization of leased assets 31 25 18
Interest on lease liabilities 6 5 3
Sublease Income (5) (5) (5)
Net lease cost $ 526 $ 500 $ 427
v3.25.4
Future Lease Commitments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Lessee, Operating Lease, Liability, Payments, Due Next Rolling Twelve Months $ 335  
Finance Lease, Liability, Payments, Due in Next Rolling 12 Months 36  
Lease, Liability, Payments, Due in Next Rolling 12 Months 371  
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Two 298  
Finance Lease, Liability, Payments, Due in Rolling Year Two 28  
Lease, Liability, Payments, Due in Year Two 326  
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Three 250  
Finance Lease, Liability, Payments, Due in Rolling Year Three 20  
Lease, Liability, Payments, Due in Year Three 270  
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Four 204  
Finance Lease, Liability, Payments, Due in Rolling Year Four 13  
Lease, Liability, Payments, Due in Year Four 217  
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Five 160  
Finance Lease, Liability, Payments, Due in Rolling Year Five 9  
Lease, Liability, Payments, Due in Year Five 169  
Lessee, Operating Lease, Liability, Payments, Due after Rolling Year Five 483  
Finance Lease, Liability, Payments, Due in Rolling after Year Five 18  
Lease, Liability, Payments, Due After Year Five 501  
Lessee, Operating Lease, Liability, to be Paid 1,730  
Finance Lease, Liability, Payment, Due 124  
Lease, Liability, Payments Due 1,854  
Lessee, Operating Lease, Liability, Undiscounted Excess Amount 332  
Finance Lease, Liability, Undiscounted Excess Amount 18  
Lease, Liability, Undiscounted Excess Amount 350  
Operating Lease, Liability, Total 1,398  
Finance Lease, Liability, Total 106 $ 97
Lease Liability $ 1,504 $ 1,412
v3.25.4
Leases (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Classification [Line Items]  
Operating Lease, Not Yet Commenced, Expense $ 70
Lessee, Operating Lease, Lease Not yet Commenced, Future Commencement 7 months
Minimum [Member]  
Classification [Line Items]  
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract 2 years
Maximum  
Classification [Line Items]  
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract 12 years
v3.25.4
Synthetic Lease Arrangements (Details) - Synthetic Lease Arrangements
$ in Millions
Dec. 31, 2025
USD ($)
Classification [Line Items]  
Synthetic Lease Aggregate Estimated Cost $ 100
Aggregate future lease commitment $ 35
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract 5 years
Residual Value of Leased Asset, Guarantee, Percentage 100.00%
v3.25.4
Lease Term and Discount Rate (Details)
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating Lease, Weighted Average Remaining Lease Term 7 years 7 years 3 months 18 days
Finance Lease, Weighted Average Remaining Lease Term 6 years 1 month 6 days 6 years 4 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent 5.75% 5.80%
Finance Lease, Weighted Average Discount Rate, Percent 4.81% 4.96%
v3.25.4
Leases Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating cash outflows from operating leases $ 347 $ 328 $ 299
Financing cash outflows from finance leases 30 28 19
Leased assets obtained in exchange for finance lease liabilities 31 49 49
Leased assets obtained in exchange for operating lease liabilities $ 306 $ 384 $ 310
v3.25.4
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Employee Benefit Plans [Abstract]      
Projected Benefit Obligation $ 217 $ 200 $ 202
Defined Benefit Plan, Service Cost 6 5 4
Defined Benefit Plan, Interest Cost 7 7 6
Defined Benefit Plan, Benefit Obligation, Participant Contributions 2 2  
Defined Benefit Plan, Benefit Obligation, Actuarial (Gain) Loss (8) 12  
Defined Benefit Plan, Benefit Obligation, Benefits Paid (6) (11)  
Defined Benefit Plan, Benefit Obligation, Payment for Settlement (5) (2)  
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) 21 (15)  
Defined Benefit Plan, Plan Assets, Amount 137 116 119
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) 10 10  
Defined Benefit Plan, Plan Assets, Contributions by Employer 8 7  
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant 2 2  
Defined Benefit Plan, Plan Assets, Benefits Paid (6) (11)  
Defined Benefit Plan, Plan Assets, Payment for Settlement (5) (2)  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) 12 (9)  
Defined Benefit Plan, Funded (Unfunded) Status of Plan (80) (84)  
Defined Benefit Plan, Accumulated Benefit Obligation 212 194  
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 137 116 $ 119
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) 10 10  
Defined Benefit Plan, Plan Assets, Contributions by Employer 8 7  
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant 2 2  
Defined Benefit Plan, Plan Assets, Benefits Paid 6 11  
Defined Benefit Plan, Plan Assets, Payment for Settlement 5 2  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) $ 12 $ (9)  
v3.25.4
Schedule of Amounts Recognized in Balance Sheet (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Retirement Benefits [Abstract]    
Assets for Plan Benefits, Defined Benefit Plan, Noncurrent $ 6 $ 2
Liability, Defined Benefit Plan, Current 4 4
Liability, Defined Benefit Plan, Noncurrent $ 82 $ 82
v3.25.4
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Retirement Benefits [Abstract]    
Accumulated benefit obligation $ 164 $ 184
Aggregate fair value of plan assets $ 83 $ 105
v3.25.4
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Retirement Benefits [Abstract]    
Projected benefit obligation $ 170 $ 191
Aggregate fair value of plan assets $ 84 $ 105
v3.25.4
Defined Benefit Plan, Assumptions (Details)
Dec. 31, 2025
Dec. 31, 2024
Retirement Benefits [Abstract]    
Discount rate used to determine benefit obligation 3.60% 3.20%
Rate of future compensation increase 2.30% 2.50%
v3.25.4
Schedule of Net Benefit Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Retirement Benefits [Abstract]      
Defined Benefit Plan, Service Cost $ 6 $ 5 $ 4
Defined Benefit Plan, Interest Cost 7 7 6
Defined Benefit Plan, Expected (Return) Loss on Plan Assets (5) (5) (3)
Defined Benefit Plan, Amortization of (Gain) Loss (1) 0 (2)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) $ 7 $ 7 $ 5
v3.25.4
Defined Benefit Plan, Net Periodic Benefit Cost, Assumptions (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Retirement Benefits [Abstract]      
Discount rate used to determine service cost 3.20% 3.70% 3.40%
Discount rate used to determine interest cost 3.20% 3.70% 3.40%
Rate of future compensation increase 2.50% 2.60% 1.90%
Expected long-term return on plan assets (1) 4.20% 4.30% 3.10%
v3.25.4
Employee Benefit Plans (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax $ (15)  
Defined Benefit Plan, Plan Assets, Contributions by Employer 8 $ 7
Defined Benefit Plan, Plan Assets, Estimated Future Contributions by Employer Including Benefits Paid to Participants 8  
Defined Benefit Plan, Expected Amortization of Gain (Loss), Next Fiscal Year $ (2)  
v3.25.4
Schedule of Allocation of Plan Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount $ 137 $ 116 $ 119
Fair Value, Inputs, Level 1 [Member]      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 4 4  
Fair Value, Inputs, Level 2 [Member]      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 3 [Member]      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 67 62 $ 66
Fair Value, Inputs, Level 1, Level 2, and Level 3      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 71 66  
Insurance Contracts, at Fair Value      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 67 62  
Insurance Contracts, at Fair Value | Fair Value, Inputs, Level 1 [Member]      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Insurance Contracts, at Fair Value | Fair Value, Inputs, Level 2 [Member]      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Insurance Contracts, at Fair Value | Fair Value, Inputs, Level 3 [Member]      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 67 62  
Other      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 4 4  
Other | Fair Value, Inputs, Level 1 [Member]      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 4 4  
Other | Fair Value, Inputs, Level 2 [Member]      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Other | Fair Value, Inputs, Level 3 [Member]      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value Measured at Net Asset Value Per Share      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount $ 66 $ 50  
v3.25.4
Change In Fair Value Of Plan Assets Level 3 (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount $ 137 $ 116 $ 119
Relating to assets held at the reporting date 3 1  
Purchases, sales and settlements (3) (3)  
Currency impact 5 (2)  
Fair Value, Inputs, Level 3 [Member]      
Classification [Line Items]      
Defined Benefit Plan, Plan Assets, Amount $ 67 $ 62 $ 66
v3.25.4
Schedule of Expected Benefit Payments (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Retirement Benefits [Abstract]  
2026 $ 9
2027 10
2028 10
2029 11
2030 11
2031 - 2035 $ 62
v3.25.4
Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Taxes [Abstract]      
Current Federal Tax Expense (Benefit) $ 135 $ 123 $ 139
Current State and Local Tax Expense (Benefit) 35 38 40
Current Foreign Tax Expense (Benefit) 109 140 117
Current Income Tax Expense (Benefit) 279 301 296
Deferred Federal Income Tax Expense (Benefit) (58) (24) 6
Deferred State and Local Income Tax Expense (Benefit) (10) (3) 2
Deferred Foreign Income Tax Expense (Benefit) (7) (9) 0
Deferred Income Tax Expense (Benefit), from Continuing Operations (75) (36) 8
Federal Income Tax Expense (Benefit), Continuing Operations 77 99 145
State and Local Income Tax Expense (Benefit), Continuing Operations 25 35 42
Foreign Income Tax Expense (Benefit), Continuing Operations 102 131 117
Effective tax rate $ 204 $ 265 $ 304
v3.25.4
Schedule of Income before Income Tax, Domestic and Foreign (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Domestic $ 371 $ 545 $ 783
Foreign 429 381 440
Income from continuing operations before provision for income taxes $ 800 $ 926 $ 1,223
v3.25.4
Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
U.S. federal statutory rate $ 168    
U.S. federal statutory rate 21.00% 21.00% 21.00%
State income taxes, net of state credits and federal tax impact (1) $ 16    
State income taxes, net of state credits and federal tax impact 2.10% 2.60% 2.80%
Impact of rates on international operations $ 21    
Impact of rates on international operations 2.80% 2.30% 1.20%
Effect of cross-border tax laws $ (2)    
Effect of cross-border tax laws (0.20%)    
Tax credits $ (2)    
Tax credits (0.30%)    
Changes in valuation allowances $ 2    
Changes in valuation allowances 0.20% 1.20% 0.90%
Non-deductible expenses   0.60% 1.20%
Non-deductible impairment $ 10    
Non-deductible impairment 1.30%    
Non-taxable or non-deductible expenses - Other $ 2    
Non-taxable or non-deductible expenses - Other 0.20%    
Changes in unrecognized tax benefits $ 1    
Changes in unrecognized tax benefits 0.10%    
Gains on foreign exchange contracts - acquisition related   0.00% (0.80%)
Other adjustments $ (1)    
Other adjustments (0.20%) 1.00% (1.50%)
Effective tax rate $ 204 $ 265 $ 304
Effective tax rate 25.50% 28.70% 24.80%
Classification [Line Items]      
Impact of rates on international operations $ 21    
Impact of rates on international operations 2.80% 2.30% 1.20%
Other adjustments $ (1)    
Other adjustments (0.20%) 1.00% (1.50%)
SWITZERLAND      
Income Tax Disclosure [Abstract]      
Other adjustments $ 1    
Other adjustments 0.10%    
Classification [Line Items]      
Deductible impairment $ (9)    
Deductible impairment (1.20%)    
Other adjustments $ 1    
Other adjustments 0.10%    
GERMANY      
Income Tax Disclosure [Abstract]      
Impact of rates on international operations $ (11)    
Impact of rates on international operations (1.40%)    
Other adjustments $ (11)    
Other adjustments (1.40%)    
Classification [Line Items]      
Subnational income taxes - trade taxes $ 19    
Subnational income taxes - trade taxes 2.40%    
Impact of rates on international operations $ (11)    
Impact of rates on international operations (1.40%)    
Other adjustments $ (11)    
Other adjustments (1.40%)    
v3.25.4
Income Taxes - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Undistributed Earnings of Foreign Subsidiaries $ 2,399    
Participation exemption from further U.S. taxation of dividends received from 10-percent or more owned foreign corporations held by U.S. corporate shareholders 100.00%    
Pillar Two Global Minimum Corporate Tax 15.00%    
Deferred Tax Assets, Operating Loss Carryforwards $ 29 $ 38  
Deferred Tax Assets, Tax Credit Carryforwards 4 3  
Interest Expense Deduction Carry Forward 31 30  
Deferred Tax Assets, Valuation Allowance (52) (51)  
Unrecognized Tax Benefits that Would Impact Effective Tax Rate 15 10 $ 8
Unrecognized Tax Benefits That Would Impact Deferred Taxes   18  
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued 1 1 1
Income Tax Examination, Penalties and Interest Expense $ 1 $ 1 $ 1
v3.25.4
Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Income Tax Disclosure [Abstract]    
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities $ 42 $ 57
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits 19 20
Deferred Tax Assets, Inventory 30 10
Deferred Tax Assets Tax Deferred Accounts Receivable 18 22
Interest Expense Deduction Carry Forward 31 30
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost 8 9
Deferred Tax Assets, Operating Lease Liabilities 335 346
Deferred Tax Assets, Operating Loss Carryforwards 29 38
Deferred Tax Assets, Other 32 44
Deferred Tax Assets, Gross 544 576
Deferred Tax Assets, Valuation Allowance (52) (51)
Deferred Tax Assets, Net of Valuation Allowance 492 525
Deferred Tax Liabilities Goodwill and Intangible Assets Excluding Trade Name Intangible 304 373
Deferred Tax Liabilities, Property, Plant and Equipment 90 96
Deferred Tax Liabilities Trade Name Intangible 74 79
Deferred Tax Liabilities, Operating Lease Assets, net 323 336
Deferred Tax Liabilities, Other 16 10
Deferred Tax Liabilities, Gross 807 894
Deferred Tax Liabilities, Net $ (315) $ (369)
v3.25.4
Schedule of Deferred Tax Assets and Liabilities Classification (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Classification [Line Items]    
Deferred income taxes $ 331 $ 386
Other Noncurrent Assets    
Classification [Line Items]    
Deferred Tax Assets, Net $ 16 $ 17
v3.25.4
Schedule of Unrecognized Tax Benefits Roll Forward (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]        
Unrecognized Tax Benefits $ 15 $ 28 $ 8 $ 5
Additions for acquired tax positions 0 0 6  
Additions based on tax positions related to the current year 2 10 0  
Additions based on tax positions related to prior years 3 15 3  
Reductions for tax positions of prior year (18) 0 (1)  
Lapse of statutes of limitations 0 (3) (5)  
Settlements with taxing authorities (1) (2) 0  
Cumulative translation adjustment $ 1 $ 0 $ 0  
v3.25.4
Schedule of Cash Flow, Supplemental Disclosure (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Income Tax Paid, Federal, after Refund Received $ 150    
Income Tax Paid, State and Local, after Refund Received 32    
Income Tax Paid, Foreign, after Refund Received 118    
Classification [Line Items]      
Income Tax Paid, Foreign, after Refund Received 118    
Total net income taxes paid 300 $ 322 $ 305
GERMANY      
Income Tax Disclosure [Abstract]      
Income Tax Paid, Foreign, after Refund Received 27    
Classification [Line Items]      
Income Tax Paid, Foreign, after Refund Received 27    
UNITED KINGDOM      
Income Tax Disclosure [Abstract]      
Income Tax Paid, Foreign, after Refund Received 25    
Classification [Line Items]      
Income Tax Paid, Foreign, after Refund Received 25    
CANADA      
Income Tax Disclosure [Abstract]      
Income Tax Paid, Foreign, after Refund Received 18    
Classification [Line Items]      
Income Tax Paid, Foreign, after Refund Received 18    
Foreign Tax Jurisdiction, Other      
Income Tax Disclosure [Abstract]      
Income Tax Paid, Foreign, after Refund Received 48    
Classification [Line Items]      
Income Tax Paid, Foreign, after Refund Received $ 48    
v3.25.4
Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash and Cash Equivalents [Abstract]        
Cash and cash equivalents $ 319 $ 234    
Restricted cash included in Other noncurrent assets (1) 13 5    
Cash, cash equivalents and restricted cash $ 332 $ 239 $ 299 $ 278
v3.25.4
Investment in Loan Receivable (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]    
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount $ 69 $ 51
Variable Interest Entity Entity Maximum Loss Exposure Accounts Receivable $ 49 $ 20
v3.25.4
Segment and Geographic Information - Additional Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Segment Reporting Information      
Revenues $ 13,651 $ 13,823 $ 13,269
Cost of goods sold 8,386 8,439 7,916
Selling, general and administrative expenses 3,813 3,758 3,697
Segment EBITDA 1,509 1,687 1,707
Depreciation and amortization $ 418 406 319
Number of operating segments 3    
Intersegment [Member]      
Segment Reporting Information      
Revenues $ 0 0 0
Third Party [Member]      
Segment Reporting Information      
Revenues 13,651 13,823 13,269
North America      
Segment Reporting Information      
Revenues 5,651 5,763 5,282
Cost of goods sold 3,232 3,252 2,796
Selling, general and administrative expenses 1,622 1,588 1,550
Other segment items (2) (17) (17) (23)
Segment EBITDA 814 940 959
Depreciation and amortization 197 198 121
North America | Intersegment [Member]      
Segment Reporting Information      
Revenues 1 1 1
North America | Third Party [Member]      
Segment Reporting Information      
Revenues 5,650 5,762 5,281
Europe      
Segment Reporting Information      
Revenues 6,311 6,407 6,323
Cost of goods sold 3,884 3,953 3,886
Selling, general and administrative expenses 1,872 1,855 1,842
Other segment items (2) (29) (35) (19)
Segment EBITDA 584 634 614
Depreciation and amortization 180 160 150
Europe | Intersegment [Member]      
Segment Reporting Information      
Revenues 0 0 0
Europe | Third Party [Member]      
Segment Reporting Information      
Revenues 6,311 6,407 6,323
Specialty [Member]      
Segment Reporting Information      
Revenues 1,693 1,657 1,668
Cost of goods sold 1,274 1,238 1,238
Selling, general and administrative expenses 319 315 305
Other segment items (2) (11) (9) (9)
Segment EBITDA 111 113 134
Depreciation and amortization 32 34 32
Specialty [Member] | Intersegment [Member]      
Segment Reporting Information      
Revenues 3 3 3
Specialty [Member] | Third Party [Member]      
Segment Reporting Information      
Revenues 1,690 1,654 1,665
us-gaap_IntersegmentEliminationMember      
Segment Reporting Information      
Revenues (4) (4) (4)
Segment EBITDA 0 0 0
Depreciation and amortization 0 0 0
us-gaap_IntersegmentEliminationMember | Intersegment [Member]      
Segment Reporting Information      
Revenues (4) (4) (4)
us-gaap_IntersegmentEliminationMember | Third Party [Member]      
Segment Reporting Information      
Revenues 0 0 0
Consolidated, Excluding Discontinued Operations      
Segment Reporting Information      
Depreciation and amortization $ 409 $ 392 $ 303
v3.25.4
Reconciliation of Net Income to Segment EBITDA (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of Net Income to Segment EBITDA [Line Items]      
Net income $ 608 $ 693 $ 938
Less: net income attributable to continuing noncontrolling interest 1 3 2
Net income attributable to LKQ stockholders 607 690 936
Less: net income from discontinued operations 11 24 4
Net income from continuing operations attributable to LKQ stockholders 596 666 932
Depreciation and amortization 418 406 319
Interest expense, net of interest income 207 220 162
Loss on debt extinguishment 0 0 1
Effective tax rate 204 265 304
Equity in earnings of unconsolidated subsidiaries (1) (1) (8) (15)
Equity investment fair value adjustments (1) 2 2
Restructuring and transaction related expenses (3) 42 135 65
Restructuring expenses - cost of goods sold (3) 0 15 4
Gains on previously held equity interests 0 0 (3)
Direct impacts of Ukraine/Russia conflict (4) 1 0 0
Impairment on net assets held for sale 0 0 1
Impairment of goodwill 52 0 0
Segment EBITDA 1,509 1,687 1,707
Consolidated, Excluding Discontinued Operations      
Reconciliation of Net Income to Segment EBITDA [Line Items]      
Depreciation and amortization 409 392 303
Forward Contracts      
Reconciliation of Net Income to Segment EBITDA [Line Items]      
Gains on foreign exchange contracts - acquisition related (1) $ 0 $ 0 $ (49)
v3.25.4
Schedule of Capital Expenditures by Reportable Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information      
Capital Expenditures $ 216 $ 311 $ 358
North America      
Segment Reporting Information      
Capital Expenditures 76 143 118
Europe      
Segment Reporting Information      
Capital Expenditures 122 134 163
Specialty [Member]      
Segment Reporting Information      
Capital Expenditures 13 21 41
Consolidated, Excluding Discontinued Operations      
Segment Reporting Information      
Capital Expenditures $ 211 $ 298 $ 322
v3.25.4
Schedule of Assets by Reportable Segment (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Segment Reporting Information    
Receivables, net of allowance for credit losses $ 1,204 $ 1,113
Inventories 3,426 3,183
Property, plant and equipment, net 1,452 1,409
Operating lease assets, net 1,332 1,256
Other unallocated assets 7,723 7,994
Total assets 15,137 14,955
North America    
Segment Reporting Information    
Receivables, net of allowance for credit losses 495 483
Inventories 1,479 1,411
Property, plant and equipment, net 651 675
Operating lease assets, net 641 668
Europe    
Segment Reporting Information    
Receivables, net of allowance for credit losses 552 528
Inventories 1,496 1,323
Property, plant and equipment, net 695 619
Operating lease assets, net 544 467
Specialty [Member]    
Segment Reporting Information    
Receivables, net of allowance for credit losses 157 102
Inventories 451 449
Property, plant and equipment, net 106 115
Operating lease assets, net $ 147 $ 121
v3.25.4
Schedule of Tangible Long-Lived Assets by Geographic Area (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Long-Lived Assets    
Long-Lived Assets $ 2,784 $ 2,665
UNITED STATES    
Long-Lived Assets    
Long-Lived Assets 1,313 1,350
GERMANY    
Long-Lived Assets    
Long-Lived Assets 369 312
UNITED KINGDOM    
Long-Lived Assets    
Long-Lived Assets 321 296
Other countries    
Long-Lived Assets    
Long-Lived Assets $ 781 $ 707