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Condensed Consolidated Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract] |
Condensed Consolidated Balance Sheets | CONDENSED CONSOLIDATED BALANCE SHEETS As of December 31, 2018 (In thousands)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
ASSETS
CURRENT ASSETS: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 4,613 |  |  | $ | 11,319 |  |  | $ | — |  |  | $ | 15,932 |
Contracts-in-transit and vehicle receivables, net | — |  |  | 232,095 |  |  | 33,565 |  |  | — |  |  | 265,660 |
Accounts and notes receivable, net | — |  |  | 153,871 |  |  | 40,110 |  |  | — |  |  | 193,981 |
Intercompany accounts receivable | 31,842 |  |  | 21,636 |  |  | — |  |  | (53,478 | ) |  | — |
Inventories, net | — |  |  | 1,468,422 |  |  | 375,637 |  |  | — |  |  | 1,844,059 |
Prepaid expenses and other current assets | 992 |  |  | 32,118 |  |  | 49,624 |  |  | — |  |  | 82,734 |
Total current assets | 32,834 |  |  | 1,912,755 |  |  | 510,255 |  |  | (53,478 | ) |  | 2,402,366 |
PROPERTY AND EQUIPMENT, net | — |  |  | 1,124,559 |  |  | 223,276 |  |  | — |  |  | 1,347,835 |
GOODWILL | — |  |  | 861,628 |  |  | 102,297 |  |  | — |  |  | 963,925 |
INTANGIBLE FRANCHISE RIGHTS | — |  |  | 224,394 |  |  | 35,236 |  |  | — |  |  | 259,630 |
INVESTMENT IN SUBSIDIARIES | 3,100,931 |  |  | — |  |  | — |  |  | (3,100,931 | ) |  | — |
OTHER ASSETS | — |  |  | 16,165 |  |  | 11,154 |  |  | — |  |  | 27,319 |
Total assets | $ | 3,133,765 |  |  | $ | 4,139,501 |  |  | $ | 882,218 |  |  | $ | (3,154,409 | ) |  | $ | 5,001,075 |
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |
Floorplan notes payable — credit facility and other | $ | — |  |  | $ | 1,251,402 |  |  | $ | 41,050 |  |  | $ | — |  |  | $ | 1,292,452 |
Offset account related to floorplan notes payable - credit facility | — |  |  | (33,637 | ) |  | — |  |  | — |  |  | (33,637 | )
Floorplan notes payable — manufacturer affiliates | — |  |  | 276,862 |  |  | 141,062 |  |  | — |  |  | 417,924 |
Offset account related to floorplan notes payable - manufacturer affiliates | — |  |  | (100 | ) |  | — |  |  | — |  |  | (100 | )
Current maturities of long-term debt and short-term financing | — |  |  | 73,834 |  |  | 19,133 |  |  | — |  |  | 92,967 |
Current liabilities from interest rate risk management activities | — |  |  | 115 |  |  | — |  |  | — |  |  | 115 |
Accounts payable | — |  |  | 200,912 |  |  | 218,438 |  |  | — |  |  | 419,350 |
Intercompany accounts payable | 1,164,949 |  |  | — |  |  | 53,478 |  |  | (1,218,427 | ) |  | — |
Accrued expenses | — |  |  | 164,883 |  |  | 32,611 |  |  | — |  |  | 197,494 |
Total current liabilities | 1,164,949 |  |  | 1,934,271 |  |  | 505,772 |  |  | (1,218,427 | ) |  | 2,386,565 |
LONG-TERM DEBT, net of current maturities | 872,307 |  |  | 294,388 |  |  | 114,794 |  |  | — |  |  | 1,281,489 |
LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES | — |  |  | 1,696 |  |  | — |  |  | — |  |  | 1,696 |
DEFERRED INCOME TAXES AND OTHER LIABILITIES | 815 |  |  | 223,022 |  |  | 11,794 |  |  | — |  |  | 235,631 |
STOCKHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |  |
Group 1 stockholders’ equity | 1,095,694 |  |  | 2,851,073 |  |  | 249,858 |  |  | (3,100,931 | ) |  | 1,095,694 |
Intercompany note receivable | — |  |  | (1,164,949 | ) |  | — |  |  | 1,164,949 |  |  | — |
Total stockholders’ equity | 1,095,694 |  |  | 1,686,124 |  |  | 249,858 |  |  | (1,935,982 | ) |  | 1,095,694 |
Total liabilities and stockholders’ equity | $ | 3,133,765 |  |  | $ | 4,139,501 |  |  | $ | 882,218 |  |  | $ | (3,154,409 | ) |  | $ | 5,001,075 |
CONDENSED CONSOLIDATED BALANCE SHEETS As of December 31, 2017 (In thousands)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
ASSETS
CURRENT ASSETS: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 10,096 |  |  | $ | 18,691 |  |  | $ | — |  |  | $ | 28,787 |
Contracts-in-transit and vehicle receivables, net | — |  |  | 266,788 |  |  | 39,645 |  |  | — |  |  | 306,433 |
Accounts and notes receivable, net | — |  |  | 144,872 |  |  | 43,739 |  |  | — |  |  | 188,611 |
Intercompany accounts receivable | 26,988 |  |  | 12,948 |  |  | — |  |  | (39,936 | ) |  | — |
Inventories, net | — |  |  | 1,434,852 |  |  | 328,441 |  |  | — |  |  | 1,763,293 |
Prepaid expenses and other current assets | 1,934 |  |  | 8,378 |  |  | 31,750 |  |  | — |  |  | 42,062 |
Total current assets | 28,922 |  |  | 1,877,934 |  |  | 462,266 |  |  | (39,936 | ) |  | 2,329,186 |
PROPERTY AND EQUIPMENT, net | — |  |  | 1,121,108 |  |  | 197,851 |  |  | — |  |  | 1,318,959 |
GOODWILL | — |  |  | 835,268 |  |  | 77,766 |  |  | — |  |  | 913,034 |
INTANGIBLE FRANCHISE RIGHTS | — |  |  | 255,980 |  |  | 29,652 |  |  | — |  |  | 285,632 |
INVESTMENT IN SUBSIDIARIES | 2,999,407 |  |  | — |  |  | — |  |  | (2,999,407 | ) |  | — |
OTHER ASSETS | — |  |  | 13,682 |  |  | 10,572 |  |  | — |  |  | 24,254 |
Total assets | $ | 3,028,329 |  |  | $ | 4,103,972 |  |  | $ | 778,107 |  |  | $ | (3,039,343 | ) |  | $ | 4,871,065 |
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |
Floorplan notes payable — credit facility and other | $ | — |  |  | $ | 1,219,844 |  |  | $ | 20,851 |  |  | $ | — |  |  | $ | 1,240,695 |
Offset account related to floorplan notes payable - credit facility | — |  |  | (86,547 | ) |  | — |  |  | — |  |  | (86,547 | )
Floorplan notes payable — manufacturer affiliates | — |  |  | 272,563 |  |  | 124,620 |  |  | — |  |  | 397,183 |
Offset account related to floorplan notes payable - manufacturer affiliates | — |  |  | (22,500 | ) |  | — |  |  | — |  |  | (22,500 | )
Current maturities of long-term debt and short-term financing | 24,741 |  |  | 31,229 |  |  | 21,639 |  |  | — |  |  | 77,609 |
Current liabilities from interest rate risk management activities | — |  |  | 1,996 |  |  | — |  |  | — |  |  | 1,996 |
Accounts payable | — |  |  | 229,470 |  |  | 183,511 |  |  | — |  |  | 412,981 |
Intercompany accounts payable | 890,995 |  |  | — |  |  | 39,936 |  |  | (930,931 | ) |  | — |
Accrued expenses | — |  |  | 150,241 |  |  | 26,829 |  |  | — |  |  | 177,070 |
Total current liabilities | 915,736 |  |  | 1,796,296 |  |  | 417,386 |  |  | (930,931 | ) |  | 2,198,487 |
LONG-TERM DEBT, net of current maturities | 865,202 |  |  | 360,526 |  |  | 92,456 |  |  | — |  |  | 1,318,184 |
LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES | — |  |  | 8,583 |  |  | — |  |  | — |  |  | 8,583 |
DEFERRED INCOME TAXES AND OTHER LIABILITIES | (117 | ) |  | 210,216 |  |  | 11,430 |  |  | — |  |  | 221,529 |
STOCKHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |  |
Group 1 stockholders’ equity | 1,247,508 |  |  | 2,619,346 |  |  | 256,835 |  |  | (2,999,407 | ) |  | 1,124,282 |
Intercompany note receivable | — |  |  | (890,995 | ) |  | — |  |  | 890,995 |  |  | — |
Total stockholders’ equity | 1,247,508 |  |  | 1,728,351 |  |  | 256,835 |  |  | (2,108,412 | ) |  | 1,124,282 |
Total liabilities and stockholders’ equity | $ | 3,028,329 |  |  | $ | 4,103,972 |  |  | $ | 778,107 |  |  | $ | (3,039,343 | ) |  | $ | 4,871,065 |
Condensed Consolidated Statements of Operations | CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Year Ended December 31, 2018 (In thousands)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
REVENUES | $ | — |  |  | $ | 8,723,258 |  |  | $ | 2,878,100 |  |  | $ | — |  |  | $ | 11,601,358 |
COST OF SALES | — |  |  | 7,331,950 |  |  | 2,544,315 |  |  | — |  |  | 9,876,265 |
GROSS PROFIT | — |  |  | 1,391,308 |  |  | 333,785 |  |  | — |  |  | 1,725,093 |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 3,388 |  |  | 971,923 |  |  | 297,746 |  |  | — |  |  | 1,273,057 |
DEPRECIATION AND AMORTIZATION EXPENSE | — |  |  | 52,881 |  |  | 14,189 |  |  | — |  |  | 67,070 |
ASSET IMPAIRMENTS | — |  |  | 43,398 |  |  | 485 |  |  | — |  |  | 43,883 |
INCOME (LOSS) FROM OPERATIONS | (3,388 | ) |  | 323,106 |  |  | 21,365 |  |  | — |  |  | 341,083 |
OTHER EXPENSE: |  |  |  |  |  |  |  |  |  |
Floorplan interest expense | — |  |  | (52,773 | ) |  | (7,109 | ) |  | — |  |  | (59,882 | )
Other interest income (expense), net | — |  |  | (68,085 | ) |  | (7,713 | ) |  | — |  |  | (75,798 | )
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES | (3,388 | ) |  | 202,248 |  |  | 6,543 |  |  | — |  |  | 205,403 |
BENEFIT (PROVISION) FOR INCOME TAXES | 786 |  |  | (44,520 | ) |  | (3,897 | ) |  | — |  |  | (47,631 | )
EQUITY IN EARNINGS OF SUBSIDIARIES | 160,374 |  |  | — |  |  | — |  |  | (160,374 | ) |  | — |
NET INCOME (LOSS) | $ | 157,772 |  |  | $ | 157,728 |  |  | $ | 2,646 |  |  | $ | (160,374 | ) |  | $ | 157,772 |
COMPREHENSIVE INCOME (LOSS) | — |  |  | 9,760 |  |  | (24,156 | ) |  | — |  |  | (14,396 | )
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO PARENT | $ | 157,772 |  |  | $ | 167,488 |  |  | $ | (21,510 | ) |  | $ | (160,374 | ) |  | $ | 143,376 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Year Ended December 31, 2017 (In thousands)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
REVENUES | $ | — |  |  | $ | 8,680,565 |  |  | $ | 2,443,156 |  |  | $ | — |  |  | $ | 11,123,721 |
COST OF SALES | — |  |  | 7,315,252 |  |  | 2,162,960 |  |  | — |  |  | 9,478,212 |
GROSS PROFIT | — |  |  | 1,365,313 |  |  | 280,196 |  |  | — |  |  | 1,645,509 |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 3,381 |  |  | 974,413 |  |  | 248,401 |  |  | — |  |  | 1,226,195 |
DEPRECIATION AND AMORTIZATION EXPENSE | — |  |  | 48,284 |  |  | 9,652 |  |  | — |  |  | 57,936 |
ASSET IMPAIRMENTS | — |  |  | 12,762 |  |  | 6,744 |  |  | — |  |  | 19,506 |
INCOME (LOSS) FROM OPERATIONS | (3,381 | ) |  | 329,854 |  |  | 15,399 |  |  | — |  |  | 341,872 |
OTHER EXPENSE: |  |  |  |  |  |  |  |  |  |
Floorplan interest expense | — |  |  | (47,222 | ) |  | (5,150 | ) |  | — |  |  | (52,372 | )
Other interest expense, net | — |  |  | (66,490 | ) |  | (4,007 | ) |  | — |  |  | (70,497 | )
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES | (3,381 | ) |  | 216,142 |  |  | 6,242 |  |  | — |  |  | 219,003 |
BENEFIT (PROVISION) FOR INCOME TAXES | 1,268 |  |  | (6,947 | ) |  | 118 |  |  | — |  |  | (5,561 | )
EQUITY IN EARNINGS OF SUBSIDIARIES | 215,556 |  |  | — |  |  | — |  |  | (215,556 | ) |  | — |
NET INCOME (LOSS) | $ | 213,443 |  |  | $ | 209,195 |  |  | $ | 6,360 |  |  | $ | (215,556 | ) |  | $ | 213,442 |
COMPREHENSIVE INCOME (LOSS) | — |  |  | 8,657 |  |  | 15,061 |  |  | — |  |  | 23,718 |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO PARENT | $ | 213,443 |  |  | $ | 217,852 |  |  | $ | 21,421 |  |  | $ | (215,556 | ) |  | $ | 237,160 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Year Ended December 31, 2016 (In thousands)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
REVENUES | $ | — |  |  | $ | 8,734,673 |  |  | $ | 2,152,939 |  |  | $ | — |  |  | $ | 10,887,612 |
COST OF SALES | — |  |  | 7,379,323 |  |  | 1,913,220 |  |  | — |  |  | 9,292,543 |
GROSS PROFIT | — |  |  | 1,355,350 |  |  | 239,719 |  |  | — |  |  | 1,595,069 |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 2,722 |  |  | 954,495 |  |  | 213,546 |  |  | — |  |  | 1,170,763 |
DEPRECIATION AND AMORTIZATION EXPENSE | — |  |  | 43,472 |  |  | 7,762 |  |  | — |  |  | 51,234 |
ASSET IMPAIRMENTS | — |  |  | 21,794 |  |  | 11,044 |  |  | — |  |  | 32,838 |
INCOME (LOSS) FROM OPERATIONS | (2,722 | ) |  | 335,589 |  |  | 7,367 |  |  | — |  |  | 340,234 |
OTHER EXPENSE: |  |  |  |  |  |  |  |  |  |
Floorplan interest expense | — |  |  | (40,444 | ) |  | (4,483 | ) |  | — |  |  | (44,927 | )
Other interest income (expense), net | — |  |  | (64,870 | ) |  | (3,066 | ) |  | — |  |  | (67,936 | )
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES | (2,722 | ) |  | 230,275 |  |  | (182 | ) |  | — |  |  | 227,371 |
BENEFIT (PROVISION) FOR INCOME TAXES | 1,020 |  |  | (83,560 | ) |  | 2,234 |  |  | — |  |  | (80,306 | )
EQUITY IN EARNINGS OF SUBSIDIARIES | 148,767 |  |  | — |  |  | — |  |  | (148,767 | ) |  | — |
NET INCOME (LOSS) | $ | 147,065 |  |  | $ | 146,715 |  |  | $ | 2,052 |  |  | $ | (148,767 | ) |  | $ | 147,065 |
COMPREHENSIVE INCOME (LOSS) |  |  |  | 10,121 |  |  | (19,081 | ) |  |  |  |  | (8,960 | )
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO PARENT | $ | 147,065 |  |  | $ | 156,836 |  |  | $ | (17,029 | ) |  | $ | (148,767 | ) |  | $ | 138,105 |
Condensed Consolidated Statements of Cash Flows | CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2018 (In thousands)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Total Company
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 157,770 |  |  | $ | 98,934 |  |  | $ | 13,274 |  |  | $ | 269,978 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |
Cash paid in acquisitions, net of cash received | — |  |  | (91,891 | ) |  | (43,452 | ) |  | (135,343 | )
Proceeds from disposition of franchises, property and equipment | — |  |  | 101,462 |  |  | 6,412 |  |  | 107,874 |
Purchases of property and equipment, including real estate | — |  |  | (97,229 | ) |  | (43,804 | ) |  | (141,033 | )
Other | 501 |  |  | — |  |  | — |  |  | 501 |
Net cash used in (provided by) investing activities | 501 |  |  | (87,658 | ) |  | (80,844 | ) |  | (168,001 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |
Borrowings on credit facility - floorplan line and other | — |  |  | 6,858,529 |  |  | 95,799 |  |  | 6,954,328 |
Repayments on credit facility - floorplan line and other | — |  |  | (6,797,143 | ) |  | (72,913 | ) |  | (6,870,056 | )
Borrowings on credit facility - acquisition line | 165,346 |  |  | — |  |  | — |  |  | 165,346 |
Repayments on credit facility - acquisition line | (158,485 | ) |  | — |  |  | — |  |  | (158,485 | )
Borrowings on other debt | — |  |  | 95,799 |  |  | 60,224 |  |  | 156,023 |
Principal payments on other debt | (24,741 | ) |  | (48,924 | ) |  | (45,124 | ) |  | (118,789 | )
Borrowings on debt related to real estate | — |  |  | 42,657 |  |  | 12,055 |  |  | 54,712 |
Principal payments on debt related to real estate | — |  |  | (77,781 | ) |  | (13,686 | ) |  | (91,467 | )
Employee stock purchase plan purchases, net of employee tax withholdings | 2,717 |  |  | — |  |  | — |  |  | 2,717 |
Proceeds from termination of mortgage swap | — |  |  | 918 |  |  | — |  |  | 918 |
Repurchases of common stock, amounts based on settlement date | (183,918 | ) |  | — |  |  | — |  |  | (183,918 | )
Dividends paid | (20,872 | ) |  | — |  |  | — |  |  | (20,872 | )
Borrowings (repayments) with subsidiaries | 289,432 |  |  | (300,731 | ) |  | 11,299 |  |  | — |
Investment in subsidiaries | (227,750 | ) |  | 209,917 |  |  | 17,833 |  |  | — |
Net cash provided by (used in) financing activities | (158,271 | ) |  | (16,759 | ) |  | 65,487 |  |  | (109,543 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH | — |  |  | — |  |  | (3,345 | ) |  | (3,345 | )
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | — |  |  | (5,483 | ) |  | (5,428 | ) |  | (10,911 | )
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period | — |  |  | 10,096 |  |  | 19,535 |  |  | 29,631 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period | $ | — |  |  | $ | 4,613 |  |  | $ | 14,107 |  |  | $ | 18,720 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2017 (In thousands)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Total Company
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 214,595 |  |  | $ | (13,759 | ) |  | $ | (4,321 | ) |  | $ | 196,515 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |
Cash paid in acquisitions, net of cash received | — |  |  | (62,474 | ) |  | (46,607 | ) |  | (109,081 | )
Proceeds from disposition of franchises, property and equipment | — |  |  | 8,345 |  |  | 2,363 |  |  | 10,708 |
Purchases of property and equipment, including real estate | — |  |  | (185,342 | ) |  | (30,490 | ) |  | (215,832 | )
Other | — |  |  | 1,607 |  |  | — |  |  | 1,607 |
Net cash provided by (used in) investing activities | — |  |  | (237,864 | ) |  | (74,734 | ) |  | (312,598 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |
Borrowings on credit facility - floorplan line and other | — |  |  | 7,019,070 |  |  | — |  |  | 7,019,070 |
Repayments on credit facility - floorplan line and other | — |  |  | (6,957,866 | ) |  | — |  |  | (6,957,866 | )
Borrowings on credit facility - acquisition line | 68,086 |  |  | — |  |  | — |  |  | 68,086 |
Repayment on credit facility - acquisition line | (42,278 | ) |  | — |  |  | — |  |  | (42,278 | )
Borrowings on other debt | 25,054 |  |  | 19 |  |  | 140,629 |  |  | 165,702 |
Principal payments on other debt | (313 | ) |  | (718 | ) |  | (120,168 | ) |  | (121,199 | )
Borrowings on debt related to real estate | — |  |  | 46,419 |  |  | 28,890 |  |  | 75,309 |
Principal payments on debt related to real estate loans | — |  |  | (22,931 | ) |  | (6,460 | ) |  | (29,391 | )
Issuance of common stock to benefit plans, net | 4,603 |  |  | — |  |  | — |  |  | 4,603 |
Repurchases of common stock, amounts based on settlement date | (40,094 | ) |  | — |  |  | — |  |  | (40,094 | )
Dividends paid | (20,466 | ) |  | — |  |  | — |  |  | (20,466 | )
Borrowings (repayments) with subsidiaries | 2,892 |  |  | (32,719 | ) |  | 29,827 |  |  | — |
Investment in subsidiaries | (212,079 | ) |  | 202,406 |  |  | 9,673 |  |  | — |
Net cash provided by (used in) financing activities | (214,595 | ) |  | 253,680 |  |  | 82,391 |  |  | 121,476 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH | — |  |  | — |  |  | (8 | ) |  | (8 | )
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | — |  |  | 2,057 |  |  | 3,328 |  |  | 5,385 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period | — |  |  | 8,039 |  |  | 16,207 |  |  | 24,246 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period | $ | — |  |  | $ | 10,096 |  |  | $ | 19,535 |  |  | $ | 29,631 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2016 (In thousands)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Total Company
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 147,065 |  |  | $ | 238,552 |  |  | $ | (1,520 | ) |  | $ | 384,097 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |
Cash paid in acquisitions, net of cash received | — |  |  | — |  |  | (57,327 | ) |  | (57,327 | )
Proceeds from disposition of franchises, property and equipment | — |  |  | 35,317 |  |  | 1,526 |  |  | 36,843 |
Purchases of property and equipment, including real estate | — |  |  | (138,263 | ) |  | (18,258 | ) |  | (156,521 | )
Other | — |  |  | 2,748 |  |  | 217 |  |  | 2,965 |
Net cash provided by (used in) investing activities | — |  |  | (100,198 | ) |  | (73,842 | ) |  | (174,040 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |
Borrowings on credit facility - floorplan line and other | — |  |  | 6,597,406 |  |  | — |  |  | 6,597,406 |
Repayments on credit facility - floorplan line and other | — |  |  | (6,676,161 | ) |  | — |  |  | (6,676,161 | )
Borrowings on credit facility - acquisition line | 220,020 |  |  | — |  |  | — |  |  | 220,020 |
Repayment on credit facility - acquisition line | (220,020 | ) |  | — |  |  | — |  |  | (220,020 | )
Borrowings on other debt | — |  |  | — |  |  | 49,972 |  |  | 49,972 |
Principal payments on other debt | — |  |  | (923 | ) |  | (45,005 | ) |  | (45,928 | )
Borrowings on debt related to real estate, net of debt issue costs | (2,997 | ) |  | 42,138 |  |  | — |  |  | 39,141 |
Principal payments on debt related to real estate loans | — |  |  | (20,309 | ) |  | (5,154 | ) |  | (25,463 | )
Issuance of common stock to benefit plans, net | 3,868 |  |  | — |  |  | — |  |  | 3,868 |
Repurchases of common stock, amounts based on settlement date | (127,606 | ) |  | — |  |  | — |  |  | (127,606 | )
Tax effect from stock-based compensation | (249 | ) |  | — |  |  | — |  |  | (249 | )
Dividends paid | (19,987 | ) |  | — |  |  | — |  |  | (19,987 | )
Borrowings (repayments) with subsidiaries | 399,151 |  |  | (406,888 | ) |  | 7,737 |  |  | — |
Investment in subsidiaries | (399,245 | ) |  | 328,084 |  |  | 71,161 |  |  | — |
Net cash provided by (used in) financing activities | (147,065 | ) |  | (136,653 | ) |  | 78,711 |  |  | (205,007 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH | — |  |  | — |  |  | 2,145 |  |  | 2,145 |
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | — |  |  | 1,701 |  |  | 5,494 |  |  | 7,195 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period | — |  |  | 6,338 |  |  | 10,713 |  |  | 17,051 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period | $ | — |  |  | $ | 8,039 |  |  | $ | 16,207 |  |  | $ | 24,246 |

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