Company: GPI
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001031203-25-000029
Chunk: 44

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 excess volatility in our operating cash flows prepared in accordance with U.S. GAAP. In addition, floorplan financing associated with dealership acquisitions and dispositions are classified as investing activities on an adjusted basis to eliminate excess volatility in our operating cash flows prepared in accordance with U.S. GAAP.   

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The following table reconciles cash flows on a U.S. GAAP basis to the corresponding adjusted amounts (in millions): Three Months Ended March 31,20252024CASH FLOWS FROM OPERATING ACTIVITIES:Net cash provided by operating activities:$158.7 $253.9 Change in Floorplan notes payable — credit facilities and other, excluding floorplan offset and net acquisitions and dispositions(19.2)(44.5)Change in Floorplan notes payable — manufacturer affiliates associated with net acquisitions and dispositions and floorplan offset activity(2.0)(38.5)Adjusted net cash provided by operating activities$137.6 $170.9 CASH FLOWS FROM INVESTING ACTIVITIES:Net cash used in investing activities:$(41.0)$(618.2)Change in cash paid for acquisitions, associated with Floorplan notes payable— 50.3 Change in proceeds from disposition of franchises, property and equipment, associated with Floorplan notes payable(5.5)(22.6)Adjusted net cash used in investing activities$(46.6)$(590.6)CASH FLOWS FROM FINANCING ACTIVITIES:Net cash (used in) provided by financing activities:$(83.6)$349.4 Change in Floorplan notes payable, excluding floorplan offset26.6 55.3 Adjusted net cash (used in) provided by financing activities$(57.0)$404.7 

Sources and Uses of Liquidity from Operating Activities — Three Months Ended March 31, 2025 Compared to 2024

For the Current Quarter, net cash provided by operating activities decreased by $95.2 million, as compared to the Prior Year Quarter. On an adjusted basis for the same period, adjusted net cash provided by operating activities decreased by $33.3 million. The decrease on an adjusted basis was primarily driven by a $19.8 million decrease in net income, a $115.3 million decrease in accounts payable and accrued expenses and a $98.6 million increase in contracts-in-transit and vehicle receivables, partially offset by a $182.8 million decrease in inventory levels.