Company: GPI
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001031203-25-000029
Chunk: 14

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 to these participating securities is excluded from net earnings available to common shares, as shown in the table below. Basic EPS is computed by dividing net income available to basic common shares by the weighted average number of basic common shares outstanding during the period. Diluted EPS is computed by dividing net income available to diluted common shares by the weighted average number of dilutive common shares outstanding during the period.  The following table sets forth the calculation of EPS (in millions, except share and per share data):  Three Months Ended March 31, 20252024Weighted average basic common shares outstanding13,059,447 13,328,721 Dilutive effect of stock-based awards and employee stock purchases 23,936 60,048 Weighted average dilutive common shares outstanding13,083,383 13,388,769 Basic:Net income$128.1 $147.9 Less: Earnings allocated to participating securities from continuing operations1.6 3.3 Less: Earnings (loss) allocated to participating securities to discontinued operations— — Net income available to basic common shares$126.5 $144.5 Basic earnings per common share$9.69 $10.84 Diluted:Net income$128.1 $147.9 Less: Earnings allocated to participating securities from continuing operations1.6 3.3 Less: Earnings (loss) allocated to participating securities to discontinued operations— — Net income available to diluted common shares$126.5 $144.6 Diluted earnings per common share$9.67 $10.80 

7. FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS    

Accounting standards define fair value as the price that would be received from selling an asset or paid to transfer a liability in the most advantageous market in an orderly transaction between market participants at the measurement date. Accounting standards establish a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value and establishes the following three levels of inputs that may be used to measure fair value: •Level 1 — Quoted prices for identical assets or liabilities in active markets.•Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or model-derived valuations or other inputs that are observable or that can