XML 31 R50.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Condensed Consolidated Financial Information Condensed Consolidated Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
Condensed Consolidated Financial Information [Abstract] |
Condensed Balance Sheet [Table Text Block] | 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 and short-term financing | — |  |  | 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 CONSOLIDATED BALANCE SHEET December 31, 2013
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
| (In thousands)
ASSETS
CURRENT ASSETS: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 4,306 |  |  | $ | 15,909 |  |  | $ | — |  |  | $ | 20,215 |
Contracts-in-transit and vehicle receivables, net | — |  |  | 217,462 |  |  | 7,694 |  |  | — |  |  | 225,156 |
Accounts and notes receivable, net | — |  |  | 104,732 |  |  | 30,326 |  |  | — |  |  | 135,058 |
Intercompany accounts receivable | — |  |  | 212,592 |  |  | — |  |  | (212,592 | ) |  | — |
Inventories, net | — |  |  | 1,339,062 |  |  | 203,256 |  |  | — |  |  | 1,542,318 |
Deferred income taxes | 2,279 |  |  | 18,871 |  |  | — |  |  | — |  |  | 21,150 |
Prepaid expenses and other current assets | 619 |  |  | 9,974 |  |  | 13,448 |  |  | — |  |  | 24,041 |
Total current assets | 2,898 |  |  | 1,906,999 |  |  | 270,633 |  |  | (212,592 | ) |  | 1,967,938 |
PROPERTY AND EQUIPMENT, net | — |  |  | 715,586 |  |  | 80,770 |  |  | — |  |  | 796,356 |
GOODWILL | — |  |  | 612,469 |  |  | 124,834 |  |  | — |  |  | 737,303 |
INTANGIBLE FRANCHISE RIGHTS | — |  |  | 216,412 |  |  | 85,093 |  |  | — |  |  | 301,505 |
INVESTMENT IN SUBSIDIARIES | 1,710,185 |  |  | — |  |  | — |  |  | (1,710,185 | ) |  | — |
OTHER ASSETS | — |  |  | 14,891 |  |  | 1,485 |  |  | — |  |  | 16,376 |
Total assets | $ | 1,713,083 |  |  | $ | 3,466,357 |  |  | $ | 562,815 |  |  | $ | (1,922,777 | ) |  | $ | 3,819,478 |
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |
Floorplan notes payable — credit facility and other | $ | — |  |  | $ | 1,125,030 |  |  | $ | 18,074 |  |  | $ | — |  |  | $ | 1,143,104 |
Offset account related to floorplan notes payable - credit facility | — |  |  | (56,198 | ) |  | — |  |  | — |  |  | (56,198 | )
Floorplan notes payable — manufacturer affiliates | — |  |  | 248,584 |  |  | 97,988 |  |  | — |  |  | 346,572 |
Current maturities of long-term debt and short-term financing | — |  |  | 24,428 |  |  | 11,797 |  |  | — |  |  | 36,225 |
Accounts payable | — |  |  | 158,124 |  |  | 96,806 |  |  | — |  |  | 254,930 |
Intercompany accounts payable | 292,498 |  |  | — |  |  | 212,592 |  |  | (505,090 | ) |  | — |
Accrued expenses | — |  |  | 118,529 |  |  | 22,014 |  |  | — |  |  | 140,543 |
Total current liabilities | 292,498 |  |  | 1,618,497 |  |  | 459,271 |  |  | (505,090 | ) |  | 1,865,176 |
LONG-TERM DEBT, net of current maturities | 304,637 |  |  | 328,090 |  |  | 30,962 |  |  | — |  |  | 663,689 |
LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES | — |  |  | 26,078 |  |  | — |  |  | — |  |  | 26,078 |
DEFERRED INCOME TAXES AND OTHER LIABILITIES | — |  |  | 171,141 |  |  | 29,125 |  |  | — |  |  | 200,266 |
TEMPORARY EQUITY - Redeemable equity portion of the 3.00% Convertible Senior Notes | 29,094 |  |  | — |  |  | — |  |  | — |  |  | 29,094 |
STOCKHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |
Group 1 stockholders’ equity | 1,086,854 |  |  | 1,615,049 |  |  | 43,457 |  |  | (1,710,185 | ) |  | 1,035,175 |
Intercompany note receivable | — |  |  | (292,498 | ) |  | — |  |  | 292,498 |  |  | — |
Total stockholders’ equity | 1,086,854 |  |  | 1,322,551 |  |  | 43,457 |  |  | (1,417,687 | ) |  | 1,035,175 |
Total liabilities and stockholders’ equity | $ | 1,713,083 |  |  | $ | 3,466,357 |  |  | $ | 562,815 |  |  | $ | (1,922,777 | ) |  | $ | 3,819,478 |
Condensed Income Statement [Table Text Block] | CONDENSED CONSOLIDATED STATEMENTS OF INCOME Year Ended December 31, 2014
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
| (In thousands)
REVENUES: | $ | — |  |  | $ | 8,175,242 |  |  | $ | 1,762,647 |  |  | $ | — |  |  | $ | 9,937,889 |
COST OF SALES: | — |  |  | 6,929,334 |  |  | 1,560,617 |  |  | — |  |  | 8,489,951 |
GROSS PROFIT | — |  |  | 1,245,908 |  |  | 202,030 |  |  | — |  |  | 1,447,938 |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 2,796 |  |  | 883,442 |  |  | 175,726 |  |  | — |  |  | 1,061,964 |
DEPRECIATION AND AMORTIZATION EXPENSE | — |  |  | 36,701 |  |  | 5,643 |  |  | — |  |  | 42,344 |
ASSET IMPAIRMENTS | — |  |  | 15,571 |  |  | 25,949 |  |  | — |  |  | 41,520 |
INCOME (LOSS) FROM OPERATIONS | (2,796 | ) |  | 310,194 |  |  | (5,288 | ) |  | — |  |  | 302,110 |
OTHER EXPENSE: |  |  |  |  |  |  |  |  |
Floorplan interest expense | — |  |  | (34,061 | ) |  | (7,553 | ) |  | — |  |  | (41,614 | )
Other interest expense, net | 2,272 |  |  | (46,517 | ) |  | (5,448 | ) |  | — |  |  | (49,693 | )
Loss on extinguishment of long-term debt | — |  |  | (46,403 | ) |  | — |  |  | — |  |  | (46,403 | )
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES | (524 | ) |  | 183,213 |  |  | (18,289 | ) |  | — |  |  | 164,400 |
(PROVISION) BENEFIT FOR INCOME TAXES | 196 |  |  | (77,911 | ) |  | 6,319 |  |  | — |  |  | (71,396 | )
EQUITY IN EARNINGS OF SUBSIDIARIES | 93,332 |  |  | — |  |  | — |  |  | (93,332 | ) |  | — |
NET INCOME (LOSS) | $ | 93,004 |  |  | $ | 105,302 |  |  | $ | (11,970 | ) |  | $ | (93,332 | ) |  | $ | 93,004 |
COMPREHENSIVE INCOME (LOSS) | — |  |  | (4,059 | ) |  | (26,248 | ) |  | — |  |  | (30,307 | )
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO PARENT | $ | 93,004 |  |  | $ | 101,243 |  |  | $ | (38,218 | ) |  | $ | (93,332 | ) |  | $ | 62,697 |
CONDENSED CONSOLIDATED STATEMENTS OF INCOME Year Ended December 31, 2013
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
| (In thousands)
REVENUES: | $ | — |  |  | $ | 7,353,340 |  |  | $ | 1,565,241 |  |  | $ | — |  |  | $ | 8,918,581 |
COST OF SALES: | — |  |  | 6,236,925 |  |  | 1,389,110 |  |  | — |  |  | 7,626,035 |
GROSS PROFIT | — |  |  | 1,116,415 |  |  | 176,131 |  |  | — |  |  | 1,292,546 |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 7,922 |  |  | 817,907 |  |  | 151,027 |  |  | — |  |  | 976,856 |
DEPRECIATION AND AMORTIZATION EXPENSE | — |  |  | 31,670 |  |  | 4,156 |  |  | — |  |  | 35,826 |
ASSET IMPAIRMENTS | — |  |  | 6,542 |  |  | — |  |  | — |  |  | 6,542 |
INCOME (LOSS) FROM OPERATIONS | (7,922 | ) |  | 260,296 |  |  | 20,948 |  |  | — |  |  | 273,322 |
OTHER EXPENSE: |  |  |  |  |  |  |  |  |
Floorplan interest expense | — |  |  | (33,789 | ) |  | (7,878 | ) |  | — |  |  | (41,667 | )
Other interest expense, net | 1,846 |  |  | (37,982 | ) |  | (2,835 | ) |  | — |  |  | (38,971 | )
Other expense, net | — |  |  | — |  |  | (789 | ) |  | — |  |  | (789 | )
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES | (6,076 | ) |  | 188,525 |  |  | 9,446 |  |  | — |  |  | 191,895 |
(PROVISION) BENEFIT FOR INCOME TAXES | 2,277 |  |  | (73,092 | ) |  | (7,088 | ) |  | — |  |  | (77,903 | )
EQUITY IN EARNINGS OF SUBSIDIARIES | 117,791 |  |  | — |  |  | — |  |  | (117,791 | ) |  | — |
NET INCOME (LOSS) | $ | 113,992 |  |  | $ | 115,433 |  |  | $ | 2,358 |  |  | $ | (117,791 | ) |  | $ | 113,992 |
COMPREHENSIVE INCOME (LOSS) | — |  |  | 13,081 |  |  | (31,701 | ) |  | — |  |  | (18,620 | )
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO PARENT | $ | 113,992 |  |  | $ | 128,514 |  |  | $ | (29,343 | ) |  | $ | (117,791 | ) |  | $ | 95,372 |
CONDENSED CONSOLIDATED STATEMENTS OF INCOME Year Ended December 31, 2012
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
| (In thousands)
REVENUES: | $ | — |  |  | $ | 6,953,859 |  |  | $ | 522,241 |  |  | $ | — |  |  | $ | 7,476,100 |
COST OF SALES: | — |  |  | 5,899,739 |  |  | 459,109 |  |  | — |  |  | 6,358,848 |
GROSS PROFIT | — |  |  | 1,054,120 |  |  | 63,132 |  |  | — |  |  | 1,117,252 |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 4,561 |  |  | 790,904 |  |  | 52,981 |  |  | — |  |  | 848,446 |
DEPRECIATION AND AMORTIZATION EXPENSE | — |  |  | 29,137 |  |  | 2,397 |  |  | — |  |  | 31,534 |
ASSET IMPAIRMENTS | — |  |  | 7,276 |  |  | — |  |  | — |  |  | 7,276 |
INCOME (LOSS) FROM OPERATIONS | (4,561 | ) |  | 226,803 |  |  | 7,754 |  |  | — |  |  | 229,996 |
OTHER EXPENSE: |  |  |  |  |  |  |  |  |
Floorplan interest expense | — |  |  | (30,736 | ) |  | (1,060 | ) |  | — |  |  | (31,796 | )
Other interest expense, net | — |  |  | (36,831 | ) |  | (634 | ) |  | — |  |  | (37,465 | )
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES | (4,561 | ) |  | 159,236 |  |  | 6,060 |  |  | — |  |  | 160,735 |
(PROVISION) BENEFIT FOR INCOME TAXES | 1,709 |  |  | (60,503 | ) |  | (1,732 | ) |  | — |  |  | (60,526 | )
EQUITY IN EARNINGS OF SUBSIDIARIES | 103,061 |  |  | — |  |  | — |  |  | (103,061 | ) |  | — |
NET INCOME (LOSS) | $ | 100,209 |  |  | $ | 98,733 |  |  | $ | 4,328 |  |  | $ | (103,061 | ) |  | $ | 100,209 |
COMPREHENSIVE INCOME (LOSS) | — |  |  | (5,664 | ) |  | 1,843 |  |  | — |  |  | (3,821 | )
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO PARENT | $ | 100,209 |  |  | $ | 93,069 |  |  | $ | 6,171 |  |  | $ | (103,061 | ) |  | $ | 96,388 |
Condensed Cash Flow Statement [Table Text Block] | CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS Year Ended December 31, 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 | $ | (327 | ) |  | $ | 235,236 |  |  | $ | (36,621 | ) |  | $ | 198,288 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |
Cash paid in acquisitions, net of cash received |  |  |  | (306,364 | ) |  | (30,187 | ) |  | (336,551 | )
Proceeds from disposition of franchises, property and equipment | — |  |  | 141,147 |  |  | 3,450 |  |  | 144,597 |
Purchases of property and equipment, including real estate | — |  |  | (140,407 | ) |  | (9,985 | ) |  | (150,392 | )
Other | — |  |  | (4,705 | ) |  | — |  |  | (4,705 | )
Net cash used in investing activities | — |  |  | (310,329 | ) |  | (36,722 | ) |  | (347,051 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |
Borrowings on credit facility - floorplan line and other | — |  |  | 7,832,014 |  |  | — |  |  | 7,832,014 |
Repayments on credit facility - floorplan line and other | — |  |  | (7,802,719 | ) |  | — |  |  | (7,802,719 | )
Borrowings on credit facility - acquisition line | 389,368 |  |  | — |  |  | — |  |  | 389,368 |
Repayment on credit facility - acquisition line | (379,681 | ) |  | — |  |  | — |  |  | (379,681 | )
Borrowings on real estate credit facility | — |  |  | 200 |  |  | — |  |  | 200 |
Principal payments on real estate credit facility | — |  |  | (9,917 | ) |  | — |  |  | (9,917 | )
Net borrowings on 5.00% Senior Unsecured Notes | 539,600 |  |  | — |  |  | — |  |  | 539,600 |
Debt issue costs | (1,881 | ) |  | — |  |  | — |  |  | (1,881 | )
Repurchase of 3.00% Convertible Notes | (260,074 | ) |  | — |  |  | — |  |  | (260,074 | )
Proceeds from Call/Warrant Unwind related to 3.00% Convertible Notes | 32,697 |  |  | — |  |  | — |  |  | 32,697 |
Conversion and redemption of 2.25% Convertible Notes | (182,756 | ) |  | — |  |  | — |  |  | (182,756 | )
Borrowings on other debt | — |  |  | — |  |  | 91,137 |  |  | 91,137 |
Principal payments on other debt | — |  |  | — |  |  | (85,905 | ) |  | (85,905 | )
Borrowings on debt related to real estate | — |  |  | 86,522 |  |  | 25,457 |  |  | 111,979 |
Principal payments on debt related to real estate loans | — |  |  | (33,143 | ) |  | (16,890 | ) |  | (50,033 | )
Employee stock purchase plan purchases, net of employee tax withholdings | (321 | ) |  | — |  |  | — |  |  | (321 | )
Repurchases of common stock, amounts based on settlement date | (36,802 | ) |  | — |  |  | — |  |  | (36,802 | )
Tax effect from stock-based compensation | — |  |  | 1,841 |  |  | — |  |  | 1,841 |
Dividends paid | (17,097 | ) |  | — |  |  | — |  |  | (17,097 | )
Borrowings (repayments) with subsidiaries | 78,199 |  |  | (141,824 | ) |  | 63,625 |  |  | — |
Investment in subsidiaries | (160,925 | ) |  | 161,073 |  |  | (148 | ) |  | — |
Distributions to parent | — |  |  | 2,119 |  |  | (2,119 | ) |  | — |
Net cash provided by financing activities | 327 |  |  | 96,166 |  |  | 75,157 |  |  | 171,650 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH | — |  |  | — |  |  | (2,127 | ) |  | (2,127 | )
NET INCREASE IN CASH AND CASH EQUIVALENTS | — |  |  | 21,073 |  |  | (313 | ) |  | 20,760 |
CASH AND CASH EQUIVALENTS, beginning of period | — |  |  | 4,306 |  |  | 15,909 |  |  | 20,215 |
CASH AND CASH EQUIVALENTS, end of period | $ | — |  |  | $ | 25,379 |  |  | $ | 15,596 |  |  | $ | 40,975 |
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS Year Ended December 31, 2013
| 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 | $ | (3,797 | ) |  | $ | 47,525 |  |  | $ | 8,644 |  |  | $ | 52,372 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |
Cash paid in acquisitions, net of cash received | — |  |  | (131,654 | ) |  | (138,206 | ) |  | (269,860 | )
Proceeds from disposition of franchises, property and equipment | — |  |  | 102,069 |  |  | 117 |  |  | 102,186 |
Purchases of property and equipment, including real estate | — |  |  | (73,615 | ) |  | (29,243 | ) |  | (102,858 | )
Other | — |  |  | 1,878 |  |  | — |  |  | 1,878 |
Net cash used in investing activities | — |  |  | (101,322 | ) |  | (167,332 | ) |  | (268,654 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |
Borrowings on credit facility - floorplan line and other | — |  |  | 6,379,328 |  |  | — |  |  | 6,379,328 |
Repayments on credit facility - floorplan line and other | — |  |  | (6,153,677 | ) |  | — |  |  | (6,153,677 | )
Borrowings on credit facility - acquisition line | 60,000 |  |  | — |  |  | — |  |  | 60,000 |
Borrowings on real estate credit facility | — |  |  | 19,640 |  |  | — |  |  | 19,640 |
Principal payments on real estate credit facility | — |  |  | (8,597 | ) |  | — |  |  | (8,597 | )
Borrowings of other debt | — |  |  | — |  |  | 10,289 |  |  | 10,289 |
Principal payments of other debt | — |  |  | — |  |  | (71,170 | ) |  | (71,170 | )
Principal payments of long-term debt related to real estate loans | — |  |  | (21,038 | ) |  | (15,940 | ) |  | (36,978 | )
Borrowings of debt related to real estate | — |  |  | 27,925 |  |  | 27,420 |  |  | 55,345 |
Employee stock purchase plan purchases, net of employee tax withholdings | (1,822 | ) |  | — |  |  | — |  |  | (1,822 | )
Repurchases of common stock, amounts based on settlement date | (3,553 | ) |  | — |  |  | — |  |  | (3,553 | )
Tax effect from stock-based compensation | — |  |  | 2,993 |  |  | — |  |  | 2,993 |
Dividends paid | (15,805 | ) |  | — |  |  | — |  |  | (15,805 | )
Borrowings (repayments) with subsidiaries | 50,651 |  |  | (278,850 | ) |  | 228,199 |  |  | — |
Investment in subsidiaries | (85,674 | ) |  | 86,038 |  |  | (364 | ) |  | — |
Distributions to parent | — |  |  | — |  |  | — |  |  | — |
Net cash provided by financing activities | 3,797 |  |  | 53,762 |  |  | 178,434 |  |  | 235,993 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH | — |  |  | — |  |  | (4,146 | ) |  | (4,146 | )
NET INCREASE IN CASH AND CASH EQUIVALENTS | — |  |  | (35 | ) |  | 15,600 |  |  | 15,565 |
CASH AND CASH EQUIVALENTS, beginning of period | — |  |  | 4,341 |  |  | 309 |  |  | 4,650 |
CASH AND CASH EQUIVALENTS, end of period | $ | — |  |  | $ | 4,306 |  |  | $ | 15,909 |  |  | $ | 20,215 |
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS Year Ended December 31, 2012
| 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 | $ | (2,851 | ) |  | $ | (78,501 | ) |  | $ | 6,030 |  |  | $ | (75,322 | )
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |
Cash paid in acquisitions, net of cash received | — |  |  | (155,299 | ) |  | (22,657 | ) |  | (177,956 | )
Proceeds from disposition of franchises, property and equipment | — |  |  | 39,122 |  |  | 75 |  |  | 39,197 |
Purchases of property and equipment, including real estate | — |  |  | (84,933 | ) |  | (3,558 | ) |  | (88,491 | )
Other | — |  |  | 2,792 |  |  | — |  |  | 2,792 |
Net cash used in investing activities | — |  |  | (198,318 | ) |  | (26,140 | ) |  | (224,458 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |
Borrowings on credit facility - floorplan line and other | — |  |  | 5,700,108 |  |  | — |  |  | 5,700,108 |
Repayments on credit facility - floorplan line and other | — |  |  | (5,453,148 | ) |  | — |  |  | (5,453,148 | )
Borrowings on credit facility - acquisition line | — |  |  | — |  |  | — |  |  | — |
Repayment on credit facility - acquisition line | — |  |  | — |  |  | — |  |  | — |
Borrowings on real estate credit facility | — |  |  | 18,080 |  |  | — |  |  | 18,080 |
Principal payments on real estate credit facility | — |  |  | (2,406 | ) |  | — |  |  | (2,406 | )
Principal payments of long-term debt related to real estate loans | — |  |  | (13,098 | ) |  | (2,099 | ) |  | (15,197 | )
Borrowings of long-term debt related to real estate loans | — |  |  | 62,895 |  |  | 7,790 |  |  | 70,685 |
Principal payments of other debt | — |  |  | (3,846 | ) |  | (938 | ) |  | (4,784 | )
Borrowings of other debt | — |  |  | 275 |  |  | — |  |  | 275 |
Employee stock purchase plan purchases, net of employee tax withholdings | (915 | ) |  | — |  |  | — |  |  | (915 | )
Repurchases of common stock, amounts based on settlement date | (11,317 | ) |  | — |  |  | — |  |  | (11,317 | )
Tax effect from stock-based compensation | — |  |  | 2,875 |  |  | — |  |  | 2,875 |
Dividends paid | (13,433 | ) |  | — |  |  | — |  |  | (13,433 | )
Borrowings (repayments) with subsidiaries | 145,184 |  |  | (146,525 | ) |  | 1,341 |  |  | — |
Investment in subsidiaries | (116,668 | ) |  | 108,039 |  |  | 8,629 |  |  | — |
Distributions to parent | — |  |  | 1,049 |  |  | (1,049 | ) |  | — |
Net cash provided by financing activities | 2,851 |  |  | 274,298 |  |  | 13,674 |  |  | 290,823 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH | — |  |  | — |  |  | (1,288 | ) |  | (1,288 | )
NET INCREASE IN CASH AND CASH EQUIVALENTS | — |  |  | (2,521 | ) |  | (7,724 | ) |  | (10,245 | )
CASH AND CASH EQUIVALENTS, beginning of period | — |  |  | 6,862 |  |  | 8,033 |  |  | 14,895 |
CASH AND CASH EQUIVALENTS, end of period | $ | — |  |  | $ | 4,341 |  |  | $ | 309 |  |  | $ | 4,650 |

X
- Details
Name: | gpi_CondensedConsolidatedFinancialInformationAbstract
Namespace Prefix: | gpi_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration