Company: GPI
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001031203-25-000029
Chunk: 0

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Item 1. Financial Statements

GROUP 1 AUTOMOTIVE, INC. 

CONDENSED CONSOLIDATED BALANCE SHEETS    

(Unaudited)

(In millions, except share data)

March 31, 2025December 31, 2024ASSETSCURRENT ASSETS:Cash and cash equivalents$70.5 $34.4 Contracts-in-transit and vehicle receivables, net433.7 360.1 Accounts and notes receivable, net316.7 303.0 Inventories2,558.4 2,636.8 Prepaid expenses 56.6 67.9 Other current assets23.5 18.8 Current assets classified as held for sale49.4 76.2 TOTAL CURRENT ASSETS3,508.8 3,497.3 Property and equipment, net of accumulated depreciation of $687.8 and $657.3, respectively2,890.7 2,856.5 Operating lease assets320.9 315.3 Goodwill2,076.5 2,057.9 Intangible franchise rights948.9 948.1 Other long-term assets141.1 149.1 TOTAL ASSETS$9,887.0 $9,824.2 LIABILITIES AND STOCKHOLDERS’ EQUITYCURRENT LIABILITIES:Floorplan notes payable — credit facility and other, net of offset account of $105.1 and $286.3, respectively$1,418.2 $1,255.3 Floorplan notes payable — manufacturer affiliates, net of offset account of $— and $2.0, respectively741.8 766.7 Current maturities of long-term debt142.3 175.3 Current operating lease liabilities26.0 25.8 Accounts payable727.9 738.0 Accrued expenses and other current liabilities432.3 418.6 Current liabilities classified as held for sale15.3 17.1 TOTAL CURRENT LIABILITIES3,503.9 3,396.8 Long-term debt2,661.1 2,737.9 Long-term operating lease liabilities278.8 276.2 Deferred income taxes307.4 295.8 Other long-term liabilities143.3 143.3 Commitments and Contingencies (Note 12)