Company: GPI
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001031203-25-000013
Chunk: 135

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 135
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9)(48.8)Adjusted net cash used in investing activities$(1,264.2)$(348.6)CASH FLOWS FROM FINANCING ACTIVITIES:Net cash provided by financing activities:$681.1 $185.2 Change in Floorplan notes payable, excluding floorplan offset (115.2)(547.3)Adjusted net cash provided by (used in) financing activities$565.9 $(362.1)

Sources and Uses of Liquidity from Operating Activities — Year Ended December 31, 2024 compared to 2023

For the Current Year, net cash provided by operating activities increased by $396.1 million as compared to the Prior Year. On an adjusted basis for the same period, adjusted net cash provided by operating activities decreased by $36.9 million. The decrease on an adjusted basis was primarily driven by a $103.5 million decrease in net income, a $440.1 million decrease in floorplan notes payable – manufacturer affiliates, partially offset by a $313.2 million decrease in inventory levels, a $126.8 million decrease in contracts-in-transit and vehicle receivables and a $51.5 million increase in accounts payable and accrued expenses.

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Sources and Uses of Liquidity from Investing Activities — Year Ended December 31, 2024 compared to 2023

For the Current Year, net cash used in investing activities increased by $916.5 million, as compared to the Prior Year. On an adjusted basis for the same period, adjusted net cash used in investing activities increased by $915.7 million, primarily due to a $926.8 million increase in acquisition activity, and a $59.7 million increase in purchases of property and equipment, including real estate, partially offset by a $52.8 million increase in proceeds from disposition of franchises and property and equipment.

Capital Expenditures

Our capital expenditures include costs to extend the useful lives of current dealership facilities, as well as to start or expand operations. In general, expenditures relating to the construction or expansion of dealership facilities are driven by dealership acquisition activity, new franchises being granted to us by a manufacturer, significant growth in sales at an existing facility, relocation opportunities or manufacturer imaging programs. We critically evaluate all planned future capital spending, working closely with our manufacturer partners to maximize the return on our investments.

For the Current Year, $245.1 million was used to purchase property and equipment.

Sources and Uses of Liquidity from Financing Activities — Year Ended