Company: GPI
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001031203-25-000061
Chunk: 65

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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 the U.K. increased 10 basis points, primarily driven by improvements in used vehicle wholesale. This increase was partially offset by underperformances in new and used vehicle retail.

42

SG&A Expenses

SG&A as a percentage of gross profit increased by 93 and 71 basis points on an as reported and same store basis, respectively, compared to the Prior Year. 

Total SG&A expenses in the U.K. during the Current Year increased $211.1 million, or 68.8%, as compared to the Prior Year. Total same store SG&A expenses in the U.K. during the Current Year increased $19.2 million, or 6.5%, as compared to the Prior Year, partially due to changes in foreign currency exchange rates. On a constant currency basis, total same store SG&A expenses increased 3.5%. These increases on a total same store basis were primarily driven by higher employee related costs, loaner vehicle and facility costs, offset by lower professional and legal fees, compared to the Prior Year.

Consolidated Selected Comparisons — Three and Nine Months Ended September 30, 2025 Compared to 2024

The following table (in millions) and discussion of our results of operations are on a consolidated basis, unless otherwise noted. Three Months Ended September 30,20252024Increase/ (Decrease)% ChangeDepreciation and amortization expense$31.6 $29.5 $2.1 7.0 %Asset impairments$123.9 $— $123.9 100.0 %Restructuring charges$1.6 $— $1.6 100.0 %Floorplan interest expense$23.7 $31.1 $(7.5)(24.0)%Other interest expense, net$48.0 $39.8 $8.2 20.6 %Provision for income taxes$23.0 $42.5 $(19.4)(45.7)%Nine Months Ended September 30,20252024Increase/ (Decrease)% ChangeDepreciation and amortization expense$89.6 $81.6 $8.0 9.8 %Asset impairments$124.6 $— $124.6 100.0 %Restructuring Charges$20.3 $— $20.3 100.0 %Floorplan interest expense$77.