Condensed Consolidated Financial Information Condensed Consolidated Financial Information (Tables)

3 Months Ended

Mar. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheet [Table Text Block]

CONDENSED CONSOLIDATED BALANCE SHEET

March 31, 2016



	Group 1 Automotive, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Elimination			Total Company
	(In thousands)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	—		$	5,366		$	17,015	$	—		$	22,381
Contracts-in-transit and vehicle receivables, net	—			160,229			49,313		—			209,542
Accounts and notes receivable, net	—			115,308			38,854		—			154,162
Intercompany accounts receivable	—			2,874			—		(2,874		)	—
Inventories, net	—			1,573,643			252,888		—			1,826,531
Prepaid expenses and other current assets	512			10,528			30,423		—			41,463
Total current assets	512			1,867,948			388,493		(2,874		)	2,254,079
PROPERTY AND EQUIPMENT, net	—			919,728			144,124		—			1,063,852
GOODWILL	—			807,785			78,508		—			886,293
INTANGIBLE FRANCHISE RIGHTS	—			285,660			34,235		—			319,895
INVESTMENT IN SUBSIDIARIES	2,535,020			—			—		(2,535,020		)	—
OTHER ASSETS	—			5,676			4,051		—			9,727
Total assets	$	2,535,532		$	3,886,797		$	649,411	$	(2,537,894	)	$	4,533,846

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Floorplan notes payable — credit facility and other	$	—		$	1,237,352		$	2,440	$	—		$	1,239,792
Offset account related to floorplan notes payable - credit facility	—			(104,081		)	—		—			(104,081		)
Floorplan notes payable — manufacturer affiliates	—			324,274			113,398		—			437,672
Offset account related to floorplan notes payable - manufacturer affiliates	—			(30,000		)	—		—			(30,000		)
Current maturities of long-term debt and short-term financing	—			21,812			15,694		—			37,506
Accounts payable	—			167,504			160,090		—			327,594
Intercompany accounts payable	643,837			—			2,874		(646,711		)	—
Accrued expenses	—			169,222			25,648		—			194,870
Total current liabilities	643,837			1,786,083			320,144		(646,711		)	2,103,353
LONG-TERM DEBT, net of current maturities	834,495			351,901			70,283		—			1,256,679
LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES	—			43,122			—		—			43,122
DEFERRED INCOME TAXES AND OTHER LIABILITIES	(451		)	207,756			10,594		—			217,899
STOCKHOLDERS’ EQUITY:
Group 1 stockholders’ equity	1,057,651			2,141,772			248,390		(2,535,020		)	912,793
Intercompany note receivable	—			(643,837		)	—		643,837			—
Total stockholders’ equity	1,057,651			1,497,935			248,390		(1,891,183		)	912,793
Total liabilities and stockholders’ equity	$	2,535,532		$	3,886,797		$	649,411	$	(2,537,894	)	$	4,533,846

CONDENSED CONSOLIDATED BALANCE SHEET

December 31, 2015



	Group 1 Automotive, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Elimination			Total Company
	(In thousands)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	—		$	6,338		$	6,699	$	—		$	13,037
Contracts-in-transit and vehicle receivables, net	—			233,275			19,163		—			252,438
Accounts and notes receivable, net	—			132,078			25,690		—			157,768
Intercompany accounts receivable	—			1,192			—		(1,192		)	—
Inventories, net	—			1,533,166			204,585		—			1,737,751
Prepaid expenses and other current assets	5,312			8,946			13,118		—			27,376
Total current assets	5,312			1,914,995			269,255		(1,192		)	2,188,370
PROPERTY AND EQUIPMENT, net	—			916,338			117,643		—			1,033,981
GOODWILL	—			809,775			45,140		—			854,915
INTANGIBLE FRANCHISE RIGHTS	—			285,659			21,929		—			307,588
INVESTMENT IN SUBSIDIARIES	2,388,081			—			—		(2,388,081		)	—
OTHER ASSETS	—			5,950			5,912		—			11,862
Total assets	$	2,393,393		$	3,932,717		$	459,879	$	(2,389,273	)	$	4,396,716

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Floorplan notes payable — credit facility and other	$	—		$	1,261,606		$	4,113	$	—		$	1,265,719
Offset account related to floorplan notes payable - credit facility	—			(110,759		)	—		—			(110,759		)
Floorplan notes payable — manufacturer affiliates	—			303,810			85,261		—			389,071
Offset account related to floorplan notes payable - manufacturer affiliates	—			(25,500		)	—		—			(25,500		)
Current maturities of long-term debt and short-term financing	—			47,015			7,976		—			54,991
Accounts payable	—			178,544			101,879		—			280,423
Intercompany accounts payable	503,333			—			1,192		(504,525		)	—
Accrued expenses	—			167,509			17,814		—			185,323
Total current liabilities	503,333			1,822,225			218,235		(504,525		)	2,039,268
LONG-TERM DEBT, net of current maturities	834,090			300,788			64,656		—			1,199,534
LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES	—			31,153			—		—			31,153
DEFERRED INCOME TAXES AND OTHER LIABILITIES	(265		)	203,824			4,950		—			208,509
STOCKHOLDERS’ EQUITY:
Group 1 stockholders’ equity	1,056,235			2,078,060			172,038		(2,388,081		)	918,252
Intercompany note receivable	—			(503,333		)	—		503,333			—
Total stockholders’ equity	1,056,235			1,574,727			172,038		(1,884,748		)	918,252
Total liabilities and stockholders’ equity	$	2,393,393		$	3,932,717		$	459,879	$	(2,389,273	)	$	4,396,716

Condensed Income Statement [Table Text Block]

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

Three Months Ended March 31, 2016



	Group 1 Automotive, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination			Total Company
	(In thousands)
REVENUES:	$	—		$	2,081,633		$	526,722		$	—		$	2,608,355
COST OF SALES:	—			1,748,923			470,331			—			2,219,254
GROSS PROFIT	—			332,710			56,391			—			389,101
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	1,203			243,014			49,447			—			293,664
DEPRECIATION AND AMORTIZATION EXPENSE	—			10,596			1,868			—			12,464
ASSET IMPAIRMENTS	—			509			423			—			932
INCOME FROM OPERATIONS	(1,203		)	78,591			4,653			—			82,041
OTHER EXPENSE:
Floorplan interest expense	—			(10,048		)	(962		)	—			(11,010		)
Other interest expense, net	—			(16,052		)	(877		)	—			(16,929		)
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES	(1,203		)	52,491			2,814			—			54,102
BENEFIT (PROVISION) FOR INCOME TAXES	450			(19,281		)	(980		)	—			(19,811		)
EQUITY IN EARNINGS OF SUBSIDIARIES	35,044			—			—			(35,044		)	—
NET INCOME (LOSS)	$	34,291		$	33,210		$	1,834		$	(35,044	)	$	34,291
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES	—			(9,027		)	2,155			—			(6,872		)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO PARENT	$	34,291		$	24,183		$	3,989		$	(35,044	)	$	27,419

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

Three Months Ended March 31, 2015



	Group 1 Automotive, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination			Total Company
	(In thousands)
REVENUES:	$	—		$	1,998,500		$	434,354		$	—		$	2,432,854
COST OF SALES:	—			1,684,012			384,958			—			2,068,970
GROSS PROFIT	—			314,488			49,396			—			363,884
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	1,231			227,472			42,766			—			271,469
DEPRECIATION AND AMORTIZATION EXPENSE	—			10,118			1,566			—			11,684
ASSET IMPAIRMENTS	—			—			—			—			—
INCOME FROM OPERATIONS	(1,231		)	76,898			5,064			—			80,731
OTHER EXPENSE:
Floorplan interest expense	—			(8,519		)	(829		)	—			(9,348		)
Other interest expense, net	592			(12,723		)	(1,780		)	—			(13,911		)
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES	(639		)	55,656			2,455			—			57,472
BENEFIT (PROVISION) FOR INCOME TAXES	240			(20,602		)	(1,295		)	—			(21,657		)
EQUITY IN EARNINGS OF SUBSIDIARIES	36,214			—			—			(36,214		)	—
NET INCOME (LOSS)	$	35,815		$	35,054		$	1,160		$	(36,214	)	$	35,815
OTHER COMPREHENSIVE LOSS, NET OF TAXES	—			(4,546		)	(30,594		)	—			(35,140		)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO PARENT	$	35,815		$	30,508		$	(29,434	)	$	(36,214	)	$	675

Condensed Cash Flow Statement [Table Text Block]

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

Three Months Ended March 31, 2016



	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	$	34,292		$	85,665		$	(3,882	)	$	116,075
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash paid in acquisitions, net of cash received	—			—			(51,110		)	(51,110		)
Proceeds from disposition of franchises, property and equipment	—			12,681			1,190			13,871
Purchases of property and equipment, including real estate	—			(29,121		)	(4,581		)	(33,702		)
Other	—			(255		)	149			(106		)
Net cash used in investing activities	—			(16,695		)	(54,352		)	(71,047		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on credit facility - floorplan line and other	—			1,648,527			—			1,648,527
Repayments on credit facility - floorplan line and other	—			(1,666,103		)	—			(1,666,103		)
Borrowings on credit facility - acquisition line	40,000			—			—			40,000
Repayment on credit facility - acquisition line	(40,000		)	—			—			(40,000		)
Borrowings on other debt	—			—			7,415			7,415
Principal payments on other debt	—			(230		)	(12,538		)	(12,768		)
Borrowings on debt related to real estate, net of debt issue costs	—			30,331			—			30,331
Principal payments on debt related to real estate	—			(4,325		)	(1,213		)	(5,538		)
Employee stock purchase plan purchases, net of employee tax withholdings	(1,243		)	—			—			(1,243		)
Repurchases of common stock, amounts based on settlement date	(31,945		)	—			—			(31,945		)
Tax effect from stock-based compensation	—			(53		)	—			(53		)
Dividends paid	(5,148		)	—			—			(5,148		)
Borrowings (repayments) with subsidiaries	150,983			(152,665		)	1,682			—
Investment in subsidiaries	(146,939		)	74,576			72,363			—
Distributions to parent	—			—			—			—
Net cash (used in) provided by financing activities	(34,292		)	(69,942		)	67,709			(36,525		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			841			841
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	—			(972		)	10,316			9,344
CASH AND CASH EQUIVALENTS, beginning of period	—			6,338			6,699			13,037
CASH AND CASH EQUIVALENTS, end of period	$	—		$	5,366		$	17,015		$	22,381

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

Three Months Ended March 31, 2015



	Group 1 Automotive, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Company
	(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash (used in) provided by operating activities	$	(399	)	$	57,971		$	595		$	58,167
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash paid in acquisitions, net of cash received	—			(50,142		)	—			(50,142		)
Proceeds from disposition of franchises, property and equipment	—			816			355			1,171
Purchases of property and equipment, including real estate	—			(16,949		)	(6,208		)	(23,157		)
Other	—			287			—			287
Net cash used in investing activities	—			(65,988		)	(5,853		)	(71,841		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on credit facility - floorplan line and other	—			1,597,034			—			1,597,034
Repayments on credit facility - floorplan line and other	—			(1,641,072		)	—			(1,641,072		)
Borrowings on credit facility - acquisition line	189,933			—			—			189,933
Repayment on credit facility - acquisition line	(135,907		)	—			—			(135,907		)
Borrowings on other debt	—			—			13,678			13,678
Principal payments on other debt	—			—			(10,644		)	(10,644		)
Borrowings on debt related to real estate, net of debt issue costs	—			—			17,600			17,600
Principal payments on debt related to real estate	—			(5,938		)	(520		)	(6,458		)
Employee stock purchase plan purchases, net of employee tax withholdings	(2,140		)	—			—			(2,140		)
Repurchases of common stock, amounts based on settlement date	(16,175		)	—			—			(16,175		)
Tax effect from stock-based compensation	—			1,004			—			1,004
Dividends paid	(4,892		)	—			—			(4,892		)
Borrowings (repayments) with subsidiaries	9,831			9,239			(19,070		)	—
Investment in subsidiaries	(40,251		)	26,820			13,431			—
Distributions to parent	—			—			—			—
Net cash provided by (used in) financing activities	399			(12,913		)	14,475			1,961
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			(2,983		)	(2,983		)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	—			(20,930		)	6,234			(14,696		)
CASH AND CASH EQUIVALENTS, beginning of period	—			25,379			15,596			40,975
CASH AND CASH EQUIVALENTS, end of period	$	—		$	4,449		$	21,830		$	26,279