Company: GPI
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001031203-25-000013
Chunk: 136

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 136
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 December 31, 2024 compared to 2023

For the Current Year, net cash provided by financing activities increased by $495.9 million, as compared to the Prior Year. On an adjusted basis for the same period, adjusted net cash provided by financing activities increased by $928.1 million. The increase in net cash provided by financing activities on an adjusted basis was primarily driven by a $586.4 million increase in net borrowings of other debt, including real estate-related debt, the issuance of $500.0 million of 6.375% Senior Notes, and increases in net borrowings on our U.S. Floorplan line of $108.5 million (representing the net cash activity in our floorplan offset account). These increases were partially offset by a $249.6 million increase in net repayments on the Acquisition Line. 

Credit Facilities, Debt Instruments and Other Financing Arrangements 

Our various credit facilities, debt instruments and other financing arrangements are used to finance the purchase of inventory and real estate, provide acquisition funding and provide working capital for general corporate purposes. 

The following table summarizes the commitment of our credit facilities as of December 31, 2024 (in millions): 

 As of December 31, 2024TotalCommitmentOutstandingAvailableU.S. Floorplan Line (1) $1,500.0 $1,042.4 $457.6 Acquisition Line (2) 1,000.0 106.8 893.2 Total Revolving Credit Facility2,500.0 1,149.3 1,350.7 FMCC facility (3)300.0 200.0 100.0 GM Financial Facility(4)348.1 189.5 158.6 Total U.S. credit facilities (5)$3,148.1 $1,538.8 $1,609.3 

(1)The available balance at December 31, 2024, includes $286.3 million of immediately available funds. The remaining available balance can be used for vehicle inventory financing.

(2)The outstanding balance of $106.8 million is related to outstanding letters of credit of $11.8 million and $95.0 million in USD borrowings. The available borrowings may be limited from time to time, based on certain debt covenant calculations, and as a result, the outstanding balance plus available borrowings may not equal