Company: GPI
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001031203-25-000029
Chunk: 4

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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.9 Stock-based compensation— — 7.6 — — — 7.6 Dividends declared ($0.47 per share)— — — (6.4)— — (6.4)BALANCE, MARCH 31, 202425,109,781 $0.3 $351.7 $3,791.3 $30.3 $(1,401.1)$2,772.4 

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited)6

GROUP 1 AUTOMOTIVE, INC. 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited) 

(In millions)   Three Months Ended March 31, 20252024CASH FLOWS FROM OPERATING ACTIVITIES:Net income$128.1 $147.9 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization29.3 23.8 Change in operating lease assets7.4 5.8 Deferred income taxes8.8 0.6 Asset impairments1.5 — Stock-based compensation7.6 7.6 Amortization of debt discount and issuance costs1.2 0.8 Gain on disposition of assets(8.5)(34.3)Unrealized loss (gain) on derivative instruments0.5 (0.5)Other(0.4)(0.5)Changes in assets and liabilities, net of acquisitions and dispositions:Accounts payable and accrued expenses(8.2)107.1 Accounts and notes receivable(13.0)(21.7)Inventories108.0 (74.8)Contracts-in-transit and vehicle receivables(71.8)26.8 Prepaid expenses and other assets8.7 16.4 Floorplan notes payable — manufacturer affiliates(32.1)55.9 Deferred revenues(0.3)(0.3)Operating lease liabilities(8.1)(6.7)Net cash provided by operating activities158.7 253.9 CASH FLOWS FROM INVESTING ACTIVITIES:Cash paid for acquisitions, net, including repayment of sellers’ floorplan notes payable of $— and $50.3, respectively(15.1)(689.7)Proceed