Condensed Consolidated Financial Information Condensed Consolidated Financial Information (Tables)

3 Months Ended

Mar. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheet [Table Text Block]

CONDENSED CONSOLIDATED BALANCE SHEET

March 31, 2017



	Group 1 Automotive, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Elimination			Total Company
	(In thousands)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	—		$	5,676		$	28,094	$	—		$	33,770
Contracts-in-transit and vehicle receivables, net	—			159,067			54,705		—			213,772
Accounts and notes receivable, net	—			116,180			36,614		—			152,794
Intercompany accounts receivable	—			10,696			—		(10,696		)	—
Inventories, net	—			1,487,326			242,199		—			1,729,525
Prepaid expenses and other current assets	422			6,541			16,253		—			23,216
Total current assets	422			1,785,486			377,865		(10,696		)	2,153,077
PROPERTY AND EQUIPMENT, net	—			1,013,927			138,468		—			1,152,395
GOODWILL	—			805,930			71,110		—			877,040
INTANGIBLE FRANCHISE RIGHTS	—			260,534			24,777		—			285,311
INVESTMENT IN SUBSIDIARIES	2,744,837			—			—		(2,744,837		)	—
OTHER ASSETS	—			16,481			5,059		—			21,540
Total assets	$	2,745,259		$	3,882,358		$	617,279	$	(2,755,533	)	$	4,489,363

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Floorplan notes payable — credit facility and other	$	—		$	1,163,756		$	6,627	$	—		$	1,170,383
Offset account related to floorplan notes payable - credit facility	—			(97,149		)	—		—			(97,149		)
Floorplan notes payable — manufacturer affiliates	—			292,075			100,313		—			392,388
Offset account related to floorplan notes payable - manufacturer affiliates	—			(26,750		)	—		—			(26,750		)
Current maturities of long-term debt and short-term financing	—			34,021			12,319		—			46,340
Current liabilities from interest rate risk management activities	—			2,597			—		—			2,597
Accounts payable	—			182,035			165,711		—			347,746
Intercompany accounts payable	800,296			—			10,696		(810,992		)	—
Accrued expenses	—			161,280			24,440		—			185,720
Total current liabilities	800,296			1,711,865			320,106		(810,992		)	2,021,275
LONG-TERM DEBT, net of current maturities	836,587			329,494			58,637		—			1,224,718
LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES	—			17,762			—		—			17,762
DEFERRED INCOME TAXES AND OTHER LIABILITIES	(735		)	251,719			5,664		—			256,648
STOCKHOLDERS’ EQUITY:
Group 1 stockholders’ equity	1,109,111			2,371,814			232,872		(2,744,837		)	968,960
Intercompany note receivable	—			(800,296		)	—		800,296			—
Total stockholders’ equity	1,109,111			1,571,518			232,872		(1,944,541		)	968,960
Total liabilities and stockholders’ equity	$	2,745,259		$	3,882,358		$	617,279	$	(2,755,533	)	$	4,489,363

CONDENSED CONSOLIDATED BALANCE SHEET

December 31, 2016



	Group 1 Automotive, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Elimination			Total Company
	(In thousands)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	—		$	8,039		$	12,953	$	—		$	20,992
Contracts-in-transit and vehicle receivables, net	—			241,097			28,411		—			269,508
Accounts and notes receivable, net	—			140,985			32,379		—			173,364
Intercompany accounts receivable	—			8,929			—		(8,929		)	—
Inventories, net	—			1,386,871			264,944		—			1,651,815
Prepaid expenses and other current assets	516			7,188			27,204		—			34,908
Total current assets	516			1,793,109			365,891		(8,929		)	2,150,587
PROPERTY AND EQUIPMENT, net	—			990,084			135,799		—			1,125,883
GOODWILL	—			805,935			70,828		—			876,763
INTANGIBLE FRANCHISE RIGHTS	—			260,534			24,342		—			284,876
INVESTMENT IN SUBSIDIARIES	2,787,328			—			—		(2,787,328		)	—
OTHER ASSETS	—			19,313			4,481		—			23,794
Total assets	$	2,787,844		$	3,868,975		$	601,341	$	(2,796,257	)	$	4,461,903

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Floorplan notes payable — credit facility and other	$	—		$	1,131,718		$	4,936	$	—		$	1,136,654
Offset account related to floorplan notes payable - credit facility	—			(59,626		)	—		—			(59,626		)
Floorplan notes payable — manufacturer affiliates	—			281,747			110,914		—			392,661
Offset account related to floorplan notes payable - manufacturer affiliates	—			(25,500		)	—		—			(25,500		)
Current maturities of long-term debt and short-term financing	—			44,659			27,760		—			72,419
Current liabilities from interest rate risk management activities	—			3,941			—		—			3,941
Accounts payable	—			211,050			145,049		—			356,099
Intercompany accounts payable	875,662			—			8,929		(884,591		)	—
Accrued expenses	—			156,648			19,821		—			176,469
Total current liabilities	875,662			1,744,637			317,409		(884,591		)	2,053,117
LONG-TERM DEBT, net of current maturities	836,056			324,540			52,213		—			1,212,809
LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES	—			20,470			—		—			20,470
DEFERRED INCOME TAXES AND OTHER LIABILITIES	(1,020		)	240,348			5,979		—			245,307
STOCKHOLDERS’ EQUITY:
Group 1 stockholders’ equity	1,077,146			2,414,642			225,740		(2,787,328		)	930,200
Intercompany note receivable	—			(875,662		)	—		875,662			—
Total stockholders’ equity	1,077,146			1,538,980			225,740		(1,911,666		)	930,200
Total liabilities and stockholders’ equity	$	2,787,844		$	3,868,975		$	601,341	$	(2,796,257	)	$	4,461,903

Condensed Income Statement [Table Text Block]

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

Three Months Ended March 31, 2017



	Group 1 Automotive, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination			Total Company
	(In thousands)
REVENUES:	$	—		$	1,967,718		$	551,111		$	—		$	2,518,829
COST OF SALES:	—			1,647,123			488,184			—			2,135,307
GROSS PROFIT	—			320,595			62,927			—			383,522
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	1,966			232,611			55,202			—			289,779
DEPRECIATION AND AMORTIZATION EXPENSE	—			11,567			2,039			—			13,606
INCOME (LOSS) FROM OPERATIONS	(1,966		)	76,417			5,686			—			80,137
OTHER EXPENSE:
Floorplan interest expense	—			(10,878		)	(1,064		)	—			(11,942		)
Other interest expense, net	—			(16,274		)	(725		)	—			(16,999		)
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES	(1,966		)	49,265			3,897			—			51,196
BENEFIT (PROVISION) FOR INCOME TAXES	737			(17,084		)	(910		)	—			(17,257		)
EQUITY IN EARNINGS OF SUBSIDIARIES	35,167			—			—			(35,167		)	—
NET INCOME (LOSS)	$	33,938		$	32,181		$	2,987		$	(35,167	)	$	33,939
COMPREHENSIVE INCOME	—			2,658			4,137			—			6,795
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO PARENT	$	33,938		$	34,839		$	7,124		$	(35,167	)	$	40,734

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 (LOSS) 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 Cash Flow Statement [Table Text Block]

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

Three Months Ended March 31, 2017



	Group 1 Automotive, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Company
	(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by operating activities	$	33,939		$	23,409		$	14,213		$	71,561
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash paid in acquisitions, net of cash received	—			—			(95		)	(95		)
Proceeds from disposition of franchises, property and equipment	—			181			2,026			2,207
Purchases of property and equipment, including real estate	—			(43,091		)	(3,360		)	(46,451		)
Other	—			2,459			—			2,459
Net cash used in investing activities	—			(40,451		)	(1,429		)	(41,880		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on credit facility - floorplan line and other	—			1,580,590			13,781			1,594,371
Repayments on credit facility - floorplan line and other	—			(1,586,075		)	(12,216		)	(1,598,291		)
Borrowings on credit facility - acquisition line	15,000			—			—			15,000
Repayments on credit facility - acquisition line	(15,000		)	—			—			(15,000		)
Principal payments on other debt	—			(232		)	—			(232		)
Principal payments on debt related to real estate	—			(5,589		)	(1,242		)	(6,831		)
Employee stock purchase plan purchases, net of employee tax withholdings	(1,030		)	—			—			(1,030		)
Dividends paid	(5,150		)	—			—			(5,150		)
Borrowings (repayments) with subsidiaries	(70,250		)	68,483			1,767			—
Investment in subsidiaries	42,491			(42,498		)	7			—
Net cash provided by (used in) financing activities	(33,939		)	14,679			2,097			(17,163		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			260			260
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	—			(2,363		)	15,141			12,778
CASH AND CASH EQUIVALENTS, beginning of period	—			8,039			12,953			20,992
CASH AND CASH EQUIVALENTS, end of period	$	—		$	5,676		$	28,094		$	33,770

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			7,415			1,655,942
Repayments on credit facility - floorplan line and other	—			(1,666,103		)	(9,510		)	(1,675,613		)
Borrowings on credit facility - acquisition line	40,000			—			—			40,000
Repayments on credit facility - acquisition line	(40,000		)	—			—			(40,000		)
Principal payments on other debt	—			(230		)	(3,028		)	(3,258		)
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			—
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