Company: GPI
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001031203-25-000029
Chunk: 23

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 Currency TranslationAccumulated Income (Loss) On Interest Rate SwapsTotalBalance, December 31, 2024$(56.5)$58.2 $1.6 Other comprehensive income (loss) before reclassifications:Pre-tax 23.9 (6.5)17.4 Tax effect— 1.5 1.5 Amount reclassified from accumulated other comprehensive income (loss):Floorplan interest expense (pre-tax)— (4.0)(4.0)Other interest expense, net (pre-tax)— (2.9)(2.9)Provision for income taxes— 1.6 1.6 Net current period other comprehensive income (loss)23.9 (10.1)13.8 Balance, March 31, 2025$(32.6)$48.1 $15.4 Three Months Ended March 31, 2024Accumulated Income (Loss) On Foreign Currency TranslationAccumulated Income (Loss) On Interest Rate SwapsTotalBalance, December 31, 2023$(37.4)$65.6 $28.1 Other comprehensive income (loss) before reclassifications:Pre-tax(4.5)18.8 14.3 Tax effect— (4.5)(4.5)Amount reclassified from accumulated other comprehensive income (loss):Floorplan interest expense (pre-tax)— (5.3)(5.3)Other interest expense, net (pre-tax)— (4.6)(4.6)Reclassification related to de-designated interest rate swaps (pre-tax)— (0.2)(0.2)Provision for income taxes— 2.4 2.4 Net current period other comprehensive (loss) income(4.5)6.6 2.1 Balance, March 31, 2024$(41.9)$72.2 $30.3 

20

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations  

Management’s Discussion and Analysis of Financial Condition and Results of Operations, should be read in conjunction with the accompanying unaudited Condensed Consolidated Financial Statements and the notes thereto, as well as our 2024 Form 10-K.  

Overview

We are a leading operator in the automotive retail industry. We sell or lease new and used cars and light trucks; arrange related vehicle financing