Company: GPI
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001031203-25-000049
Chunk: 20

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 between the SOFR yield curve and the relevant interest rate according to rating agencies. The inputs to the fair value measurements reflect Level 2 of the hierarchy framework.Assets associated with the Company’s interest rate swaps, as reflected gross in the Condensed Consolidated Balance Sheets, were as follows (in millions):  June 30, 2025December 31, 2024Assets:Other current assets$3.5 $1.8 Other long-term assets (1)52.6 77.5 Total assets$56.1 $79.3 (1) As of June 30, 2025 and December 31, 2024, the balance included gross fair value of $2.5 million and $3.4 million, respectively, related to the de-designated swaps as described below.There were no liabilities associated with the Company’s interest rate swaps as of June 30, 2025 and December 31, 2024.Interest Rate Swaps De-designated as Cash Flow HedgesAs of June 30, 2025, the Company had one de-designated interest rate swap with a notional value of $26.1 million and an interest rate of 0.60%. The de-designated swap will mature on March 1, 2030. No interest rate swaps were de-designated by the Company during the six months ended June 30, 2025. 

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Table of Contents GROUP 1 AUTOMOTIVE, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) – (Continued)

The Company recorded unrealized mark-to-market losses of $0.4 million and $0.9 million and realized gains of $0.2 million and $0.5 million associated with de-designated interest rate swaps within Other interest expense, net, for the three and six months ended June 30, 2025, respectively. The Company recorded unrealized mark-to-market gains of $0.2 million and $0.5 million and realized gains of $0.4 million and $0.8 million associated with de-designated interest rate swaps within Other interest expense, net, for the three and six months ended June 30, 2024, respectively.Interest Rate Swaps Designated as Cash Flow HedgesInterest rate swaps designated as cash flow hedges and the related gains or losses are deferred in stockholders’ equity as a component of AOCI in the Company