Company: GPI
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001031203-25-000061
Chunk: 12

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) – (Continued)

The following table summarizes the consideration paid and aggregate amounts of assets acquired and liabilities assumed as of September 30, 2025 (in millions):Total consideration$517.0 Identifiable assets acquired and liabilities assumedCash$23.4 Contracts-in-transit and vehicle receivables, net27.6 Accounts receivable, net37.7 Inventories384.3 Prepaid expenses and other current assets14.1 Property and equipment286.1 Operating lease assets104.3 Intangible franchise rights123.7 Total assets acquired1,001.2 Floorplan notes payable236.4 Accounts payable204.6 Accrued expenses54.0 Operating lease liabilities75.4 Deferred income taxes38.2 Other liabilities3.9 Total liabilities assumed612.6 Total identifiable net assets388.6 Goodwill$128.4 The Company recorded $0.2 million of acquisition related costs attributable to the Inchcape Acquisition during the nine months ended September 30, 2025. These costs are included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations.The Company’s Condensed Consolidated Statements of Operations included revenues and net loss attributable to Inchcape Retail for the three months ended September 30, 2025 of $615.2 million and $13.9 million, respectively, and for the nine months ended September 30, 2025 of $1.9 billion and $14.9 million, respectively. The Company’s Condensed Consolidated Statements of Operations included revenues and net income attributable to Inchcape Retail from August 1, 2024 through September 30, 2024 of $333.8 million and $5.1 million, respectively. The net loss attributable to Inchcape Retail for the three and nine months ended September 30, 2025 includes the impact of the restructuring charges further described in Note 5. Restructuring.The following unaudited pro forma financial information presents consolidated information of the Company as if the Inchcape Acquisition had occurred on January 1, 2024 (in millions): Three Months Ended September 30, 2024Nine Months Ended September 30, 2024(unaudited)Revenues$5,446.0 $15,952.7 Net income$157.1 $