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Condensed Consolidated Financial Information Condensed Consolidated Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2015
Condensed Consolidated Financial Information [Abstract] |
Condensed Balance Sheet [Table Text Block] | CONDENSED CONSOLIDATED BALANCE SHEET June 30, 2015
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
| (In thousands)
ASSETS
CURRENT ASSETS: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 4,620 |  |  | $ | 19,605 |  |  | $ | — |  |  | $ | 24,225 |
Contracts-in-transit and vehicle receivables, net | — |  |  | 202,435 |  |  | 31,453 |  |  | — |  |  | 233,888 |
Accounts and notes receivable, net | — |  |  | 115,817 |  |  | 28,448 |  |  | — |  |  | 144,265 |
Intercompany accounts receivable | — |  |  | 249,576 |  |  | — |  |  | (249,576 | ) |  | — |
Inventories, net | — |  |  | 1,438,449 |  |  | 218,656 |  |  | — |  |  | 1,657,105 |
Deferred income taxes | 331 |  |  | 11,700 |  |  | — |  |  | — |  |  | 12,031 |
Prepaid expenses and other current assets | 311 |  |  | 15,356 |  |  | 12,184 |  |  | — |  |  | 27,851 |
Total current assets | 642 |  |  | 2,037,953 |  |  | 310,346 |  |  | (249,576 | ) |  | 2,099,365 |
PROPERTY AND EQUIPMENT, net | — |  |  | 849,407 |  |  | 115,956 |  |  | — |  |  | 965,363 |
GOODWILL | — |  |  | 769,163 |  |  | 118,037 |  |  | — |  |  | 887,200 |
INTANGIBLE FRANCHISE RIGHTS | — |  |  | 290,876 |  |  | 40,935 |  |  | — |  |  | 331,811 |
INVESTMENT IN SUBSIDIARIES | 2,102,908 |  |  | — |  |  | — |  |  | (2,102,908 | ) |  | — |
OTHER ASSETS | — |  |  | 9,120 |  |  | 10,115 |  |  | — |  |  | 19,235 |
Total assets | $ | 2,103,550 |  |  | $ | 3,956,519 |  |  | $ | 595,389 |  |  | $ | (2,352,484 | ) |  | $ | 4,302,974 |
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |
Floorplan notes payable — credit facility and other | $ | — |  |  | $ | 1,204,346 |  |  | $ | 1,383 |  |  | $ | — |  |  | $ | 1,205,729 |
Offset account related to floorplan notes payable - credit facility | — |  |  | (22,466 | ) |  | — |  |  | — |  |  | (22,466 | )
Floorplan notes payable — manufacturer affiliates | — |  |  | 219,148 |  |  | 89,562 |  |  | — |  |  | 308,710 |
Offset account related to floorplan notes payable - manufacturer affiliates | — |  |  | (23,300 | ) |  | — |  |  | — |  |  | (23,300 | )
Current maturities of long-term debt | — |  |  | 59,379 |  |  | 17,063 |  |  | — |  |  | 76,442 |
Accounts payable | — |  |  | 173,603 |  |  | 130,758 |  |  | — |  |  | 304,361 |
Intercompany accounts payable | 364,672 |  |  | — |  |  | 249,576 |  |  | (614,248 | ) |  | — |
Accrued expenses | — |  |  | 136,583 |  |  | 24,540 |  |  | — |  |  | 161,123 |
Total current liabilities | 364,672 |  |  | 1,747,293 |  |  | 512,882 |  |  | (614,248 | ) |  | 2,010,599 |
LONG-TERM DEBT, net of current maturities | 631,387 |  |  | 340,496 |  |  | 69,969 |  |  | — |  |  | 1,041,852 |
LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES | — |  |  | 29,020 |  |  | — |  |  | — |  |  | 29,020 |
DEFERRED INCOME TAXES AND OTHER LIABILITIES | — |  |  | 204,703 |  |  | 12,649 |  |  | — |  |  | 217,352 |
STOCKHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |
Group 1 stockholders’ equity | 1,107,491 |  |  | 1,999,679 |  |  | (111 | ) |  | (2,102,908 | ) |  | 1,004,151 |
Intercompany note receivable | — |  |  | (364,672 | ) |  | — |  |  | 364,672 |  |  | — |
Total stockholders’ equity | 1,107,491 |  |  | 1,635,007 |  |  | (111 | ) |  | (1,738,236 | ) |  | 1,004,151 |
Total liabilities and stockholders’ equity | $ | 2,103,550 |  |  | $ | 3,956,519 |  |  | $ | 595,389 |  |  | $ | (2,352,484 | ) |  | $ | 4,302,974 |
CONDENSED CONSOLIDATED BALANCE SHEET December 31, 2014
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
| (In thousands)
ASSETS
CURRENT ASSETS: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 25,379 |  |  | $ | 15,596 |  |  | $ | — |  |  | $ | 40,975 |
Contracts-in-transit and vehicle receivables, net | — |  |  | 218,361 |  |  | 19,087 |  |  | — |  |  | 237,448 |
Accounts and notes receivable, net | — |  |  | 117,427 |  |  | 33,903 |  |  | — |  |  | 151,330 |
Intercompany accounts receivable | — |  |  | 276,217 |  |  | — |  |  | (276,217 | ) |  | — |
Inventories, net | — |  |  | 1,342,022 |  |  | 214,683 |  |  | — |  |  | 1,556,705 |
Deferred income taxes | 196 |  |  | 10,866 |  |  | — |  |  | — |  |  | 11,062 |
Prepaid expenses and other current assets | 590 |  |  | 22,039 |  |  | 15,070 |  |  | — |  |  | 37,699 |
Total current assets | 786 |  |  | 2,012,311 |  |  | 298,339 |  |  | (276,217 | ) |  | 2,035,219 |
PROPERTY AND EQUIPMENT, net | — |  |  | 839,063 |  |  | 111,325 |  |  | — |  |  | 950,388 |
GOODWILL | — |  |  | 700,642 |  |  | 129,735 |  |  | — |  |  | 830,377 |
INTANGIBLE FRANCHISE RIGHTS | — |  |  | 257,502 |  |  | 46,445 |  |  | — |  |  | 303,947 |
INVESTMENT IN SUBSIDIARIES | 1,964,442 |  |  | — |  |  | — |  |  | (1,964,442 | ) |  | — |
OTHER ASSETS | — |  |  | 10,120 |  |  | 11,441 |  |  | — |  |  | 21,561 |
Total assets | $ | 1,965,228 |  |  | $ | 3,819,638 |  |  | $ | 597,285 |  |  | $ | (2,240,659 | ) |  | $ | 4,141,492 |
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |
Floorplan notes payable — credit facility and other | $ | — |  |  | $ | 1,137,743 |  |  | $ | 5,503 |  |  | $ | — |  |  | $ | 1,143,246 |
Offset account related to floorplan notes payable - credit facility | — |  |  | (39,616 | ) |  | — |  |  | — |  |  | (39,616 | )
Floorplan notes payable — manufacturer affiliates | — |  |  | 207,329 |  |  | 100,327 |  |  | — |  |  | 307,656 |
Offset account related to floorplan notes payable - manufacturer affiliates | — |  |  | (22,500 | ) |  | — |  |  | — |  |  | (22,500 | )
Current maturities of long-term debt | — |  |  | 61,185 |  |  | 11,445 |  |  | — |  |  | 72,630 |
Accounts payable | — |  |  | 176,143 |  |  | 112,177 |  |  | — |  |  | 288,320 |
Intercompany accounts payable | 295,421 |  |  | — |  |  | 276,217 |  |  | (571,638 | ) |  | — |
Accrued expenses | — |  |  | 149,700 |  |  | 22,763 |  |  | — |  |  | 172,463 |
Total current liabilities | 295,421 |  |  | 1,669,984 |  |  | 528,432 |  |  | (571,638 | ) |  | 1,922,199 |
LONG-TERM DEBT, net of current maturities | 609,812 |  |  | 347,202 |  |  | 51,823 |  |  | — |  |  | 1,008,837 |
LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES | — |  |  | 25,311 |  |  | — |  |  | — |  |  | 25,311 |
DEFERRED INCOME TAXES AND OTHER LIABILITIES | — |  |  | 193,077 |  |  | 14,058 |  |  | — |  |  | 207,135 |
STOCKHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |
Group 1 stockholders’ equity | 1,059,995 |  |  | 1,879,485 |  |  | 2,972 |  |  | (1,964,442 | ) |  | 978,010 |
Intercompany note receivable | — |  |  | (295,421 | ) |  | — |  |  | 295,421 |  |  | — |
Total stockholders’ equity | 1,059,995 |  |  | 1,584,064 |  |  | 2,972 |  |  | (1,669,021 | ) |  | 978,010 |
Total liabilities and stockholders’ equity | $ | 1,965,228 |  |  | $ | 3,819,638 |  |  | $ | 597,285 |  |  | $ | (2,240,659 | ) |  | $ | 4,141,492 |
Condensed Income Statement [Table Text Block] | CONDENSED CONSOLIDATED STATEMENTS OF INCOME Three Months Ended June 30, 2015
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
| (In thousands)
REVENUES: | $ | — |  |  | $ | 2,287,447 |  |  | $ | 439,033 |  |  | $ | — |  |  | $ | 2,726,480 |
COST OF SALES: | — |  |  | 1,945,263 |  |  | 389,644 |  |  | — |  |  | 2,334,907 |
GROSS PROFIT | — |  |  | 342,184 |  |  | 49,389 |  |  | — |  |  | 391,573 |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 848 |  |  | 237,716 |  |  | 42,004 |  |  | — |  |  | 280,568 |
DEPRECIATION AND AMORTIZATION EXPENSE | — |  |  | 10,357 |  |  | 1,589 |  |  | — |  |  | 11,946 |
ASSET IMPAIRMENTS | — |  |  | 498 |  |  | 541 |  |  | — |  |  | 1,039 |
INCOME FROM OPERATIONS | (848 | ) |  | 93,613 |  |  | 5,255 |  |  | — |  |  | 98,020 |
OTHER EXPENSE: |  |  |  |  |  |  |  |  |
Floorplan interest expense | — |  |  | (8,959 | ) |  | (1,056 | ) |  | — |  |  | (10,015 | )
Other interest expense, net | 605 |  |  | (13,073 | ) |  | (1,760 | ) |  | — |  |  | (14,228 | )
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES | (243 | ) |  | 71,581 |  |  | 2,439 |  |  | — |  |  | 73,777 |
(PROVISION) BENEFIT FOR INCOME TAXES | 92 |  |  | (26,382 | ) |  | (1,177 | ) |  | — |  |  | (27,467 | )
EQUITY IN EARNINGS OF SUBSIDIARIES | 46,461 |  |  | — |  |  | — |  |  | (46,461 | ) |  | — |
NET INCOME (LOSS) | $ | 46,310 |  |  | $ | 45,199 |  |  | $ | 1,262 |  |  | $ | (46,461 | ) |  | $ | 46,310 |
COMPREHENSIVE INCOME (LOSS) | — |  |  | 3,784 |  |  | 9,999 |  |  | — |  |  | 13,783 |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO PARENT | $ | 46,310 |  |  | $ | 48,983 |  |  | $ | 11,261 |  |  | $ | (46,461 | ) |  | $ | 60,093 |
CONDENSED CONSOLIDATED STATEMENTS OF INCOME Six Months Ended June 30, 2015
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
| (In thousands)
REVENUES: | $ | — |  |  | $ | 4,285,947 |  |  | $ | 873,387 |  |  | $ | — |  |  | $ | 5,159,334 |
COST OF SALES: | — |  |  | 3,629,275 |  |  | 774,602 |  |  | — |  |  | 4,403,877 |
GROSS PROFIT | — |  |  | 656,672 |  |  | 98,785 |  |  | — |  |  | 755,457 |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 2,079 |  |  | 465,188 |  |  | 84,770 |  |  | — |  |  | 552,037 |
DEPRECIATION AND AMORTIZATION EXPENSE | — |  |  | 20,475 |  |  | 3,155 |  |  | — |  |  | 23,630 |
ASSET IMPAIRMENTS | — |  |  | 498 |  |  | 541 |  |  | — |  |  | 1,039 |
INCOME FROM OPERATIONS | (2,079 | ) |  | 170,511 |  |  | 10,319 |  |  | — |  |  | 178,751 |
OTHER EXPENSE: |  |  |  |  |  |  |  |  |
Floorplan interest expense | — |  |  | (17,477 | ) |  | (1,885 | ) |  | — |  |  | (19,362 | )
Other interest expense, net | 1,197 |  |  | (25,796 | ) |  | (3,540 | ) |  | — |  |  | (28,139 | )
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES | (882 | ) |  | 127,238 |  |  | 4,894 |  |  | — |  |  | 131,250 |
(PROVISION) BENEFIT FOR INCOME TAXES | 331 |  |  | (46,985 | ) |  | (2,472 | ) |  | — |  |  | (49,126 | )
EQUITY IN EARNINGS OF SUBSIDIARIES | 82,675 |  |  | — |  |  | — |  |  | (82,675 | ) |  | — |
NET INCOME (LOSS) | $ | 82,124 |  |  | $ | 80,253 |  |  | $ | 2,422 |  |  | $ | (82,675 | ) |  | $ | 82,124 |
COMPREHENSIVE INCOME (LOSS) | — |  |  | (762 | ) |  | (20,595 | ) |  | — |  |  | (21,357 | )
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO PARENT | $ | 82,124 |  |  | $ | 79,491 |  |  | $ | (18,173 | ) |  | $ | (82,675 | ) |  | $ | 60,767 |
CONDENSED CONSOLIDATED STATEMENTS OF INCOME Three Months Ended June 30, 2014
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
| (In thousands)
REVENUES: | $ | — |  |  | $ | 2,060,596 |  |  | $ | 451,042 |  |  | $ | — |  |  | $ | 2,511,638 |
COST OF SALES: | — |  |  | 1,743,819 |  |  | 398,671 |  |  | — |  |  | 2,142,490 |
GROSS PROFIT | — |  |  | 316,777 |  |  | 52,371 |  |  | — |  |  | 369,148 |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 914 |  |  | 225,521 |  |  | 45,535 |  |  | — |  |  | 271,970 |
DEPRECIATION AND AMORTIZATION EXPENSE | — |  |  | 9,310 |  |  | 1,443 |  |  | — |  |  | 10,753 |
ASSET IMPAIRMENTS | — |  |  | 1,721 |  |  | — |  |  | — |  |  | 1,721 |
INCOME FROM OPERATIONS | (914 | ) |  | 80,225 |  |  | 5,393 |  |  | — |  |  | 84,704 |
OTHER EXPENSE: |  |  |  |  |  |  |  |  |
Floorplan interest expense | — |  |  | (8,360 | ) |  | (1,969 | ) |  | — |  |  | (10,329 | )
Other interest expense, net | 564 |  |  | (11,798 | ) |  | (1,333 | ) |  | — |  |  | (12,567 | )
Loss on extinguishment of long-term debt | — |  |  | (23,614 | ) |  | — |  |  | — |  |  | (23,614 | )
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES | (350 | ) |  | 36,453 |  |  | 2,091 |  |  | — |  |  | 38,194 |
(PROVISION) BENEFIT FOR INCOME TAXES | 132 |  |  | (20,369 | ) |  | (1,095 | ) |  | — |  |  | (21,332 | )
EQUITY IN EARNINGS OF SUBSIDIARIES | 17,080 |  |  | — |  |  | — |  |  | (17,080 | ) |  | — |
NET INCOME (LOSS) | $ | 16,862 |  |  | $ | 16,084 |  |  | $ | 996 |  |  | $ | (17,080 | ) |  | $ | 16,862 |
COMPREHENSIVE INCOME (LOSS) | — |  |  | (2,080 | ) |  | 6,395 |  |  | — |  |  | 4,315 |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO PARENT | $ | 16,862 |  |  | $ | 14,004 |  |  | $ | 7,391 |  |  | $ | (17,080 | ) |  | $ | 21,177 |
CONDENSED CONSOLIDATED STATEMENTS OF INCOME Six Months Ended June 30, 2014
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
| (In thousands)
REVENUES: | $ | — |  |  | $ | 3,895,223 |  |  | $ | 877,278 |  |  | $ | — |  |  | $ | 4,772,501 |
COST OF SALES: | — |  |  | 3,288,714 |  |  | 776,517 |  |  | — |  |  | 4,065,231 |
GROSS PROFIT | — |  |  | 606,509 |  |  | 100,761 |  |  | — |  |  | 707,270 |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 1,756 |  |  | 440,179 |  |  | 87,593 |  |  | — |  |  | 529,528 |
DEPRECIATION AND AMORTIZATION EXPENSE | — |  |  | 17,936 |  |  | 2,742 |  |  | — |  |  | 20,678 |
ASSET IMPAIRMENTS | — |  |  | 1,721 |  |  | — |  |  | — |  |  | 1,721 |
INCOME FROM OPERATIONS | (1,756 | ) |  | 146,673 |  |  | 10,426 |  |  | — |  |  | 155,343 |
OTHER EXPENSE: |  |  |  |  |  |  |  |  |
Floorplan interest expense | — |  |  | (16,944 | ) |  | (4,298 | ) |  | — |  |  | (21,242 | )
Other interest expense, net | 1,129 |  |  | (22,062 | ) |  | (2,147 | ) |  | — |  |  | (23,080 | )
Loss on extinguishment of long-term debt | — |  |  | (23,614 | ) |  | — |  |  | — |  |  | (23,614 | )
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES | (627 | ) |  | 84,053 |  |  | 3,981 |  |  | — |  |  | 87,407 |
(PROVISION) BENEFIT FOR INCOME TAXES | 235 |  |  | (37,300 | ) |  | (2,177 | ) |  | — |  |  | (39,242 | )
EQUITY IN EARNINGS OF SUBSIDIARIE | 48,557 |  |  | — |  |  | — |  |  | (48,557 | ) |  | — |
NET INCOME (LOSS) | $ | 48,165 |  |  | $ | 46,753 |  |  | $ | 1,804 |  |  | $ | (48,557 | ) |  | $ | 48,165 |
COMPREHENSIVE INCOME (LOSS) | — |  |  | (2,860 | ) |  | 14,609 |  |  | — |  |  | 11,749 |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO PARENT | $ | 48,165 |  |  | $ | 43,893 |  |  | $ | 16,413 |  |  | $ | (48,557 | ) |  | $ | 59,914 |
Condensed Cash Flow Statement [Table Text Block] | CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS Six Months Ended June 30, 2015
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Total Company
| (In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 82,124 |  |  | $ | (6,018 | ) |  | $ | 4,469 |  |  | $ | 80,575 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |
Cash paid in acquisitions, net of cash received | — |  |  | (130,783 | ) |  | — |  |  | (130,783 | )
Proceeds from disposition of franchises, property and equipment | — |  |  | 6,845 |  |  | 494 |  |  | 7,339 |
Purchases of property and equipment, including real estate | — |  |  | (39,305 | ) |  | (9,181 | ) |  | (48,486 | )
Other | — |  |  | 6,294 |  |  | — |  |  | 6,294 |
Net cash used in investing activities | — |  |  | (156,949 | ) |  | (8,687 | ) |  | (165,636 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |
Borrowings on credit facility - floorplan line and other | — |  |  | 3,550,526 |  |  | — |  |  | 3,550,526 |
Repayments on credit facility - floorplan line and other | — |  |  | (3,466,772 | ) |  | — |  |  | (3,466,772 | )
Borrowings on credit facility - acquisition line | 346,050 |  |  | — |  |  | — |  |  | 346,050 |
Repayment on credit facility - acquisition line | (324,222 | ) |  | — |  |  | — |  |  | (324,222 | )
Principal payments on real estate credit facility | — |  |  | (1,670 | ) |  | — |  |  | (1,670 | )
Borrowings on other debt | — |  |  | 138 |  |  | 25,606 |  |  | 25,744 |
Principal payments on other debt | — |  |  | (989 | ) |  | (25,953 | ) |  | (26,942 | )
Borrowings on debt related to real estate | — |  |  | — |  |  | 22,430 |  |  | 22,430 |
Principal payments on debt related to real estate | — |  |  | (11,176 | ) |  | (1,513 | ) |  | (12,689 | )
Employee stock purchase plan purchases, net of employee tax withholdings | (1,113 | ) |  | — |  |  | — |  |  | (1,113 | )
Repurchases of common stock, amounts based on settlement date | (33,121 | ) |  | — |  |  | — |  |  | (33,121 | )
Tax effect from stock-based compensation | — |  |  | 1,439 |  |  | — |  |  | 1,439 |
Dividends paid | (9,737 | ) |  | — |  |  | — |  |  | (9,737 | )
Borrowings (repayments) with subsidiaries | 80,027 |  |  | (54,206 | ) |  | (25,821 | ) |  | — |
Investment in subsidiaries | (140,008 | ) |  | 124,918 |  |  | 15,090 |  |  | — |
Net cash provided by (used in) financing activities | (82,124 | ) |  | 142,208 |  |  | 9,839 |  |  | 69,923 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH | — |  |  | — |  |  | (1,612 | ) |  | (1,612 | )
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | — |  |  | (20,759 | ) |  | 4,009 |  |  | (16,750 | )
CASH AND CASH EQUIVALENTS, beginning of period | — |  |  | 25,379 |  |  | 15,596 |  |  | 40,975 |
CASH AND CASH EQUIVALENTS, end of period | $ | — |  |  | $ | 4,620 |  |  | $ | 19,605 |  |  | $ | 24,225 |
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS Six Months Ended June 30, 2014
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Total Company
| (In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 48,165 |  |  | $ | 99,077 |  |  | $ | (16,309 | ) |  | $ | 130,933 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |
Cash paid in acquisitions, net of cash received | — |  |  | (129,276 | ) |  | — |  |  | (129,276 | )
Proceeds from disposition of franchises, property and equipment | — |  |  | 9,489 |  |  | 275 |  |  | 9,764 |
Purchases of property and equipment, including real estate | — |  |  | (64,039 | ) |  | (4,687 | ) |  | (68,726 | )
Other | — |  |  | (6,125 | ) |  | — |  |  | (6,125 | )
Net cash used in investing activities | — |  |  | (189,951 | ) |  | (4,412 | ) |  | (194,363 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |
Borrowings on credit facility - floorplan line and other | — |  |  | 3,735,607 |  |  | — |  |  | 3,735,607 |
Repayments on credit facility - floorplan line and other | — |  |  | (3,762,092 | ) |  | — |  |  | (3,762,092 | )
Borrowings on credit facility - acquisition line | 89,963 |  |  | — |  |  | — |  |  | 89,963 |
Repayment on credit facility - acquisition line | (130,000 | ) |  | — |  |  | — |  |  | (130,000 | )
Borrowings on real estate credit facility | — |  |  | 200 |  |  | — |  |  | 200 |
Principal payments on real estate credit facility | — |  |  | (1,603 | ) |  | — |  |  | (1,603 | )
Net borrowings on 5.00% Senior Unsecured Notes | 344,750 |  |  | — |  |  | — |  |  | 344,750 |
Debt issue costs | (1,221 | ) |  | — |  |  | — |  |  | (1,221 | )
Purchase of 3.00% Convertible Notes | (210,356 | ) |  | — |  |  | — |  |  | (210,356 | )
Borrowings on other debt | — |  |  | — |  |  | 53,038 |  |  | 53,038 |
Principal payments on other debt | — |  |  | — |  |  | (47,167 | ) |  | (47,167 | )
Borrowings on debt related to real estate | — |  |  | 32,559 |  |  | — |  |  | 32,559 |
Principal payments on debt related to real estate | — |  |  | (7,691 | ) |  | (8,545 | ) |  | (16,236 | )
Employee stock purchase plan purchases, net of employee tax withholdings | 55 |  |  | — |  |  | — |  |  | 55 |
Repurchases of common stock, amounts based on settlement date | (16,942 | ) |  | — |  |  | — |  |  | (16,942 | )
Tax effect from stock-based compensation | — |  |  | 1,103 |  |  | — |  |  | 1,103 |
Dividends paid | (8,235 | ) |  | — |  |  | — |  |  | (8,235 | )
Borrowings (repayments) with subsidiaries | 90,086 |  |  | (116,191 | ) |  | 26,105 |  |  | — |
Investment in subsidiaries | (206,265 | ) |  | 206,389 |  |  | (124 | ) |  | — |
Distributions to parent | — |  |  | 2,118 |  |  | (2,118 | ) |  | — |
Net cash provided by (used in) financing activities | (48,165 | ) |  | 90,399 |  |  | 21,189 |  |  | 63,423 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH | 494 |  |  | — |  |  | 593 |  |  | 1,087 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 494 |  |  | (475 | ) |  | 1,061 |  |  | 1,080 |
CASH AND CASH EQUIVALENTS, beginning of period | — |  |  | 4,306 |  |  | 15,909 |  |  | 20,215 |
CASH AND CASH EQUIVALENTS, end of period | $ | 494 |  |  | $ | 3,831 |  |  | $ | 16,970 |  |  | $ | 21,295 |

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