Company: GPI
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001031203-25-000061
Chunk: 24

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 1.24%. As of September 30, 2024, the Company held 34 interest rate swaps designated as cash flow hedges with a total notional value of $922.7 million that fixed its underlying SOFR at a weighted average rate of 1.23%. The maturity dates of the Company’s designated interest rate swaps range between December 31, 2025 and December 31, 2031. The following tables present the impact of the Company’s interest rate swaps designated as cash flow hedges (in millions):  Amount of Unrealized Income (Loss), Net of Tax, Recognized in Other Comprehensive Income (Loss) Three Months Ended September 30,Nine Months Ended September 30,Derivatives in Cash Flow Hedging Relationship2025202420252024Interest rate swaps$0.8 $(14.7)$(6.0)$4.9  Amount Reclassified from Other Comprehensive Income (Loss) into Statements of OperationsStatement of Operations ClassificationThree Months Ended September 30,Nine Months Ended September 30,2025202420252024Floorplan interest expense$4.1 $5.4 $12.0 $16.1 Other interest expense, net$2.7 $4.3 $8.4 $13.3 The amount of gain expected to be reclassified out of AOCI into earnings as an offset to Floorplan interest expense or Other interest expense, net in the next twelve months is $18.2 million.

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

9. RECEIVABLES, NET AND CONTRACT ASSETS 

The Company’s receivables, net and contract assets consisted of the following (in millions): September 30, 2025December 31, 2024Contracts-in-transit and vehicle receivables, net:Contracts-in-transit$230.1 $250.3 Vehicle receivables107.0 110.6 Total contracts-in-transit and vehicle receivables337.2 360.9 Less: allowance for doubtful accounts 0.5 0.8 Total contracts-in-transit and vehicle receivables, net$336.7 $360.1 Accounts and notes receivable, net:Manufacturer receiv