GROUP 1 AUTOMOTIVE INC

Previous wording

We are a leading operator in the automotive retail industry. We sell or lease new and used cars and light trucks; arrange related vehicle financing; sell service and insurance contracts; provide automotive maintenance and repair services; and sell vehicle parts retail and wholesale. We have operations in geographically diverse markets that extend across 17 states in the U.S. and 72 towns and cities in the U.K. As of March 31, 2025, our retail network consisted of 144 dealerships in the U.S. and 116 dealerships in the U.K.

Current wording

We are a leading operator in the automotive retail industry. We sell or lease new and used cars and light trucks; arrange related vehicle financing; sell service and insurance contracts; provide automotive maintenance and repair services; and sell vehicle parts retail and wholesale. We have operations in geographically diverse markets that extend across 17 states in the U.S. and 67 towns and cities in the U.K. As of June 30, 2025, our retail network consisted of 145 dealerships in the U.S. and 113 dealerships in the U.K.

Previous wording

On March 26, 2025, President Donald Trump signed a proclamation invoking Section 232 of the Trade Expansion Act of 1962 to impose a 25 percent tariff on imported automobiles and certain automobile parts. The 25 percent tariff on automobiles took effect on April 3, 2025, with the 25 percent tariff on automobile parts to begin no later than May 3, 2025. The 25 percent tariff will be applied to imported passenger vehicles (sedans, SUVs, crossovers, minivans, cargo vans) and light trucks, as well as key automobile parts (engines, transmissions, powertrain parts and electrical components), with processes to expand tariffs on additional parts if necessary. Importers of automobiles under the United States-Mexico-Canada Agreement (“USMCA”) will be given the opportunity to certify the value of the automobile attributable to parts wholly obtained, produced entirely, or substantially transformed in the United States (“U.S. content”) and systems will be implemented such that the 25 percent tariff will only apply to the value of their non-U.S. content. USMCA-compliant automobile parts will remain tariff-free until the Secretary of Commerce, in consultation with U.S. Customs and Border Protection, establishes a process to apply tariffs to their non-U.S. content.

Current wording

On March 26, 2025, President Donald Trump signed a proclamation under Section 232 of the Trade Expansion Act imposing a 25 percent tariff on imported automobiles and certain automobile parts. As of July 24, 2025, the procedures required by the Secretary of Commerce to impose these tariffs have not yet been finalized or implemented.

Previous wording

While the possibility exists for delays, reductions, or exemptions of the automotive and reciprocal tariffs, the potential impacts of the tariffs described above, as well as the reaction of the OEMs to such tariffs, remain uncertain and could significantly increase the price of our products as well as the future mix and demand for vehicles provided by our manufacturers. Additionally, reciprocal tariffs, tariffs on steel and aluminum and the elevated tariffs against China and other countries could negatively impact the global economy, demand for our products and our manufacturers’ global supply chains. Our manufacturers’ supply chain dependencies and production facility locations vary by OEM, and as a result, certain manufacturers, vehicle models, vehicle model variations and parts could be affected more significantly by the imposition of tariffs than others. We will continue to monitor the impact of the Trump Administration’s policies and the response of U.S. trading partners on our results of operations in future periods.

Current wording

While the possibility exists for delays, reductions, or exemptions of the automotive and reciprocal tariffs, the potential impacts of the tariffs described above, as well as the reaction of the OEMs to such tariffs, remain uncertain and could significantly increase the price of our products as well as the future mix and demand for vehicles provided by our manufacturers. Additionally, reciprocal tariffs, tariffs on steel, aluminum, copper and other materials, and the elevated tariffs against China and other countries could negatively impact the global economy, demand for our products and our manufacturers’ global supply chains. Our manufacturers’ supply chain dependencies and production facility locations vary by OEM, and as a result, certain manufacturers, vehicle models, vehicle model variations and parts could be affected more significantly by the imposition of tariffs than others. We will continue to monitor the impact of the Trump Administration’s policies and the response of U.S. trading partners on our results of operations in future periods.

Previous wording

Total same store revenues in the U.S. during the Current Quarter increased $211.6 million, or 6.0%, as compared to the Prior Year Quarter. This increase was driven by higher revenues across all business lines.

Current wording

Total same store revenues in the U.S. during the Current Quarter increased $284.2 million, or 7.4%, as compared to the Prior Year Quarter. This increase was driven by higher revenues across all business lines.

Previous wording

Used vehicle retail same store revenues outperformed the Prior Year Quarter, driven by higher pricing, coupled with slightly more units sold. This outperformance is a testament to our used vehicle management processes and use of technology for used vehicle pricing. Used vehicle wholesale same store revenues outperformed the Prior Year Quarter, driven by more units sold, coupled with higher pricing.

Current wording

Used vehicle retail same store revenues outperformed the Prior Year Quarter, driven by higher pricing, coupled with more units sold. Used vehicle wholesale same store revenues outperformed the Prior Year Quarter, driven by more units sold, coupled with higher pricing.

Previous wording

Parts and service same store revenues outperformed the Prior Year Quarter, driven by increases in customer pay and warranty revenues, partially offset by decreases in wholesale and collision revenues. We are strategically reducing our collision footprint and repurposing a portion of that space to traditional service capacity, which we expect to increase returns from the higher margin service business. Same store technician headcount increased through our continued technician recruiting and retention efforts, providing greater capacity to meet increased demand.

Current wording

Parts and service same store revenues outperformed the Prior Year Quarter, driven by increases in customer pay, warranty and wholesale revenues, partially offset by decreases in collision revenues. We are strategically reducing our smaller collision center footprints and repurposing a portion of that space to traditional service capacity, which we expect to increase returns from the higher margin service business. Same store technician headcount increased through our continued technician recruiting and retention efforts, providing greater capacity to meet increased demand.

Previous wording

New vehicle retail same store gross profit underperformed the Prior Year Quarter, driven by a decrease in new vehicle retail same store gross profit per unit sold, partially offset by an increase in units sold.

Current wording

New vehicle retail same store gross profit outperformed the Prior Year Quarter, driven by an increase in units sold, partially offset by a decrease in new vehicle retail same store gross profit per unit sold.

Previous wording

Total SG&A expenses in the U.S. during the Current Quarter increased $52.6 million, or 13.3%, as compared to the Prior Year Quarter, primarily driven by higher same store SG&A expenses and the acquisition of stores. Total same store SG&A expenses in the U.S. during the Current Quarter, increased $22.4 million, or 5.4%, as compared to the Prior Year Quarter, primarily driven by increased employee related costs, third-party services and higher facility related expenses.

Current wording

Total SG&A expenses in the U.S. during the Current Quarter increased $53.9 million, or 12.9%, as compared to the Prior Year Quarter, primarily driven by higher same store SG&A expenses and the acquisition of stores. Total same store SG&A expenses in the U.S. during the Current Quarter, increased $38.1 million, or 8.9%, as compared to the Prior Year Quarter, primarily driven by increased employee related costs and third-party services.

Previous wording

Total revenues in the U.S. during the three months ended March 31, 2025 (“Current Quarter”) increased $276.1 million, or 7.6%, as compared to the three months ended March 31, 2024 (“Prior Year Quarter”), driven by higher same store revenues and the acquisition of stores.

Current wording

Total revenues in the U.S. during the six months ended June 30, 2025 (“Current Year”) increased $532.0 million, or 7.0%, as compared to the six months ended June 30, 2024 (“Prior Year”), driven by higher same store revenues and the acquisition of stores.

Previous wording

New vehicle retail same store revenues outperformed the Prior Year Quarter, driven by more units sold, coupled with higher pricing. This outperformance reflects the resiliency of demand. We ended the Current Quarter with a U.S. new vehicle inventory supply of 38 days, five days lower than the Prior Year Quarter.

Current wording

New vehicle retail same store revenues outperformed the Prior Year, driven by more units sold, coupled with higher pricing. This outperformance reflects the resiliency of demand. We ended the Current Year with a U.S. new vehicle inventory supply of 48 days, 14 days lower than the Prior Year.

Previous wording

F&I same store revenues outperformed the Prior Year Quarter, primarily driven by higher same store new and used vehicle units sold, coupled with higher same store F&I gross profit per unit sold. Penetration rates for vehicle service contracts, used vehicle finance and other F&I products improved, contributing to the higher same store F&I gross profit per unit sold.

Current wording

F&I same store revenues outperformed the Prior Year, primarily driven by higher same store new and used vehicle units sold, coupled with higher same store F&I gross profit per unit sold. Improved penetration rates across most product offerings contributed to the higher same store F&I gross profit per unit sold.

Previous wording

Total gross profit in the U.S. during the Current Quarter increased $35.9 million, or 5.6%, as compared to the Prior Year Quarter, driven by higher same store gross profit and the acqu isition of stores.

Current wording

Total gross profit in the U.S. during the Current Year increased $96.8 million, or 7.4%, as compared to the Prior Year, driven by higher same store gross profit and the acquisition of stores.

Previous wording

Used vehicle retail same store gross profit underperformed the Prior Year Quarter, prima rily driven by lower same store gross profit per unit sold, partially offset by higher same store used vehicle retail units sold as described above for used vehicle retail same store revenues. Used vehicle wholesale same store gross profit outperformed the Prior Year Quarter, driven by an increase in same store gross profit per unit sold, coupled with an increase in same store units sold.

Current wording

Used vehicle retail same store gross profit outperformed the Prior Year, primarily driven by higher same store used vehicle retail units sold, partially offset by lower same store gross profit per unit sold as described above for used vehicle retail same store revenues. Used vehicle wholesale same store gross profit outperformed the Prior Year, driven by an increase in same store gross profit per unit sold, coupled with an increase in same store units sold.

Previous wording

Retail new and used vehicle units sold include new and used vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles as only the sales commission is reported within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold. The GBP to USD foreign currency exchange rate has fluctuated from £1 to$1.263 at March 31, 2024, to £1 to$1.294 at March 31, 2025, or an increase in the value of the GBP of 2.4%.

Current wording

Retail new and used vehicle units sold include new and used vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles as only the sales commission is reported within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold. The GBP to USD foreign currency exchange rate has fluctuated from £1 to$1.265 at June 30, 2024, to £1 to$1.372 at June 30, 2025, or an increase in the value of the GBP of 8.4%.

Previous wording

Total revenues in the U.K. during the Current Quarter increased $758.7 million, or 92.0%, as compared to the Prior Year Quarter, primarily driven by the acquisition of stores, higher same store revenues, and changes in foreign currency exchange rates.

Current wording

Total revenues in the U.K. during the Current Quarter increased $751.2 million, or 96.9%, as compared to the Prior Year Quarter, primarily driven by the acquisition of stores, higher same store revenues, and changes in foreign currency exchange rates.

Previous wording

Total same store revenues in the U.K. during the Current Quarter increased $39.9 million, or 4.9%, as compared to the Prior Year Quarter, primarily driven byoutperformances across all lines of business. On a constant currency basis, same store revenues increased 5.2%, driven by the same outperformances.

Current wording

Total same store revenues in the U.K. during the Current Quarter increased $46.2 million, or 6.0%, as compared to the Prior Year Quarter, primarily driven byoutperformances across all lines of business except new vehicle retail. On a constant currency basis, same store revenues increased 0.1%, driven by the same outperformances.

Previous wording

New vehicle retail same store revenues, on a constant currency basis, outperformed the Prior Year Quarter, driven by more units sold, coupled with slightly higher pricing. We ended the Current Quarter with a U.K. new vehicle inventory supply of 16 days, four days lower than the Prior Year Quarter.

Current wording

New vehicle retail same store revenues, on a constant currency basis, under performed the Prior Year Quarter, driven by lower units sold, coupled with lower pricing. The Current Quarter ended with a U.K. new vehicle inventory supply of 32 days, three days lower than the Prior Year Quarter.

Previous wording

F&I, net same store revenues, on a constant currency basis, outperformed the Prior Year Quarter, driven by increases in income per contract for retail finance fees and service contracts.

Current wording

F&I, net same store revenues, on a constant currency basis, outperformed the Prior Year Quarter, driven by higher income per contract on most of our F&I products, improved penetration rates and an increase in used vehicle retail units sold.

Previous wording

Total gross profit in the U.K. during the Current Quarter increased $113.5 million, or 109.6%, as compared to the Prior Year Quarter, primarily driven by the acquisition of stores and higher same store gross profit.

Current wording

Total gross profit in the U.K. during the Current Quarter increased $108.3 million, or 109.6%, as compared to the Prior Year Quarter, driven by the acquisition of stores and higher same store gross profit.

Previous wording

Total same store gross profit in the U.K. during the Current Quarter increased $8.9 million, or 8.7%, as compared to the Prior Year Quarter. On a constant currency basis, total same store gross profit increased 9.1%, driven byincreases from new vehicle retail, parts and service and F&I, partially offset by downward pressure on used vehicle retail margins.

Current wording

Total same store gross profit in the U.K. during the Current Quarter increased $9.9 million, or 10.1%, as compared to the Prior Year Quarter. On a constant currency basis, total same store gross profit increased 4.0%, driven byincreases from used vehicle retail, used vehicle wholesale, parts and service and F&I, partially offset by downward pressure on new vehicle retail margins.

Previous wording

New vehicle retail same store gross profit, on a constant currency basis, outperformed the Prior Year Quarter, primarily due to an increase in units sold, partially offset by a decrease in new vehicle retail gross profit per unit sold as a result of the increase in vehicle inventory production generating downward pressure on new vehicle margins.

Current wording

New vehicle retail same store gross profit, on a constant currency basis, underperformed the Prior Year Quarter, primarily due to a decrease in units sold, coupled by a decrease in new vehicle retail gross profit per unit sold as a result of an industry wide increase in vehicle inventory production generating downward pressure on new vehicle margins.

Previous wording

Total same store gross margin in the U.K. increased 45 basis points, primarily driven by improvements in parts and service and used vehicle wholesale gross margins. This increase was partially offset by underperformances in new and used vehicle retail gross margins, as described above for same store gross profit.

Current wording

Total same store gross margin in the U.K. increased 50 basis points, primarily driven by improvements in parts and service and used vehicle wholesale gross margins. This increase was partially offset by underperformances in new and used vehicle retail gross margins.

Previous wording

Total SG&A expenses in the U.K. during the Current Quarter increased $88.6 million, or 109.0%, as compared to the Prior Year Quarter. Total same store SG&A expenses in the U.K. during the Current Quarter increased $5.8 million, or 7.2%, as compared to the Prior Year Quarter. On a constant currency basis, total same store SG&A expenses increased 7.9%. The increases on a total same store basis were primarily driven by fees associated with acquisitions, coupled with increased employee related costs, offset by lower facilities costs, demonstration and loaner car expenses and advertising costs, compared to the Prior Year Quarter.

Current wording

Total SG&A expenses in the U.K. during the Current Quarter increased $94.9 million, or 119.3%, as compared to the Prior Year Quarter. Total same store SG&A expenses in the U.K. during the Current Quarter increased $8.7 million, or 11.2%, as compared to the Prior Year Quarter. On a constant currency basis, total same store SG&A expenses increased 5.1%. The increases on a total same store basis were primarily driven by outside services and professional fees, coupled with increased employee related costs and facilities fees, offset by lower legal expenses and advertising costs, compared to the Prior Year Quarter.

Previous wording

Parts and service same store revenues, on a constant currency basis, outperformed the Prior Year Quarter, driven by increases in customer pay and collision revenues, partially offset by decreases in warranty and wholesale revenues. We have invested in improvements to our U.K. customer contact center, streamlining operations to make scheduling appointments easier for customers, resulting in an increase in parts and service activity driving an increase in revenues as compared to the Prior Year Quarter.

Current wording

Parts and service same store revenues, on a constant currency basis, outperformed the Prior Year, driven by increases in customer pay and collisions revenue, partially offset by decreases in warranty and wholesale revenues. We have invested in improvements to our U.K. customer contact center, streamlining operations to make scheduling appointments easier for customers, resulting in an increase in parts and service activity driving an increase in revenues as compared to the Prior Year.

Previous wording

Total same store gross profit in the U.S. during the Current Quarter increased $20.7 million, or 3.3%, as compared to the Prior Year Quarter, driven by increases from parts and service and F&I, partially offset by downward pressure on new vehicle and use vehicle retail margins.

Current wording

Total same store gross profit in the U.K. during the Current Year increased $18.7 million, or 9.4%, as compared to the Prior Year. On a constant currency basis, total same store gross profit increased 6.6%, driven by increases in used vehicle wholesale, parts and services and F&I, partially offset by downward pressure on new and used vehicle retail margins.

Previous wording

Used vehicle retail same store gross profit, on a constant currency basis, underperformed the Prior Year Quarter, driven by a decrease in used vehicle retail same store gross profit per unit sold, partially offset by an increase in used vehicle retail units sold.

Current wording

Used vehicle retail same store gross profit, on a constant currency basis, underperformed the Prior Year, driven by a decrease in used vehicle retail same store gross profit per unit sold, partially offset by an increase in used vehicle retail units sold.

Previous wording

Consolidated Selected Comparisons — Three Months Ended March 31, 2025 Compared to 2024

Current wording

Consolidated Selected Comparisons — Three and Six Months Ended June 30, 2025 Compared to 2024

Previous wording

Depreciation and amortization expense for the Current Quarter was higher compared to the Prior Year Quarter, primarily driven by acquired property and equipment in our U.S. and U.K. regions, as we continue to strategically add dealership related real estate and facilities to our investment portfolio and make improvements to our existing facilities intended to enhance the profitability of our dealerships and improve the overall customer experience.

Current wording

Depreciation and amortization expense for the Current Quarter and Current Year was higher compared to the Prior Year Quarter and Prior Year, primarily driven by acquired property and equipment in our U.S. and U.K. regions, as we continue to strategically add dealership related real estate and facilities to our investment portfolio and make improvements to our existing facilities intended to enhance the profitability of our dealerships and improve the overall customer experience.

Previous wording

Asset impairments totaled $0.4 million in the Current Quarter. During the Current Quarter, we recognized an impairment charge of $2.7 million associated with the anticipated termination of certain franchises in the U.K in the second quarter of 2025. The impairment charge was offset by a $2.3 million gain recognized as a result of the increase in value during the Current Quarter of previously impaired assets held for sale.

Current wording

Asset impairments totaled $0.4 million in the Current Quarter and $0.8 million in the Current Year. During the Current Year, we recognized an impairment charge of $2.7 million associated with the termination of certain franchises in the U.K., partially offset by a $2.3 million gain recognized as a result of an increase in value during the Current Year of previously impaired assets held for sale.

Previous wording

During the Current Quarter, we incurred $11.1 million of restructuring charges. Restructuring charges primarily consist of planned workforce realignment, strategic closing of certain facilities and systems integrations, among other efforts to increase operational efficiency and profitability in connection with the integration of the Inchcape Retail acquisition with our U.K. business.

Current wording

During the Current Quarter and Current Year, we incurred $7.6 million and $18.7 million of restructuring charges, respectively. Restructuring charges primarily consist of planned workforce realignment, strategic closing of certain facilities and systems integrations, among other efforts to increase operational efficiency and profitability in connection with the integration of the Inchcape Retail acquisition with our U.K. business.

Previous wording

Total floorplan interest expense during the Current Quarter, increased $6.4 million, or 31.0%, as compared to the Prior Year Quarter. The increase in floorplan interest expense during the Current Quarter wasdriven primarily by an increase in inventories added to our floorplan due to improvements in manufacturer production as well as acquisitions.

Current wording

Total floorplan interest expense during the Current Quarter increased $1.8 million, or 7.1%, as compared to the Prior Year Quarter. For the Current Year, floorplan interest expense increased $8.1 million, or 18.0%, as compared to the Prior Year. The increase in floorplan interest expense during the Current Quarter and Current Year wasdriven primarily by an increase in used vehicle inventories.

Previous wording

Other interest expense, net during the Current Quarter, increased $10.5 million, or 35.7%, as compared to the Prior Year Quarter. The increase in other interest expense, net during the Current Quarter was primarily attributable to interest expense associated with the 6.375% Senior Notes issued in 2024, as well as additional real estate related debt in our U.S. and U.K. regions. Refer to Note 9. Debt within our Notes to Condensed Consolidated Financial Statements for additional discussion of our debt.

Current wording

Other interest expense, net during the Current Quarter, increased $9.3 million, or 27.9%, as compared to the Prior Year Quarter. For the Current Year, other interest expense, net, increased $19.8 million, or 31.5%, as compared to the Prior Year. The increase in other interest expense, net during the Current Quarter and Current Year was primarily attributable to interest expense associated with the 6.375% Senior Notes issued in 2024, as well as additional interest expense attributable to other debt. Refer to Note 9. Debt within our Notes to Condensed Consolidated Financial Statements for additional discussion of our debt.

Previous wording

Provision for income taxes of $39.7 million during the Current Quarter decreased by $6.1 million, or 13.4%, as compared to the Prior Year Quarter. The tax expense decrease in the Current Quarter, as compared to the Prior Year Quarter, was primarily due to lower pre-tax book income. Our Current Quarter effective tax rate of 23.7%remained consistent with the Prior Year Quarter effective tax rate of 23.7%.

Current wording

Provision for income taxes of $44.0 million duringthe Current Quarter decreased by $1.1 million, or 2.5%, as compared to the Prior Year Quarter. For the Current Year, our provision for income taxes of $83.8 million decreased by $7.2 million, or 8.0%, as compared to the Prior Year. The tax expense decrease and the tax rate decrease in the Current Quarter and Current Year, as compared to the Prior Year Quarter and Prior Year, were primarily due to lower taxable gains on asset dispositions.

Previous wording

Sources and Uses of Liquidity from Operating Activities — Three Months Ended March 31, 2025 Compared to 2024

Current wording

Sources and Uses of Liquidity from Operating Activities — Six Months Ended June 30, 2025 Compared to 2024

Previous wording

For the Current Quarter, net cash provided by operating activities decreased by $95.2 million, as compared to the Prior Year Quarter. On an adjusted basis for the same period, adjusted net cash provided by operating activities decreased by $33.3 million. The decrease on an adjusted basis was primarily driven by a $19.8 million decrease in net income, a $115.3 million decrease in accounts payable and accrued expenses and a $98.6 million increase in contracts-in-transit and vehicle receivables, partially offset by a $182.8 million decrease in inventory levels.

Current wording

For the Current Year, net cash provided by operating activities increased by $280.6 million, as compared to the Prior Year. On an adjusted basis for the same period, adjusted net cash provided by operating activities increased by $48.7 million. The increase on an adjusted basis was primarily driven by a $46.7 million decrease in non-cash gain on disposition of assets, a $38.5 million decrease in accounts and notes receivable, partially offset by a $17.4 million decrease in net income.

Previous wording

Sources and Uses of Liquidity from Investing Activities — Three Months Ended March 31, 2025 Compared to 2024

Current wording

Sources and Uses of Liquidity from Investing Activities — Six Months Ended June 30, 2025 Compared to 2024

Previous wording

For the Current Quarter, net cash used in investing activities decreased by $577.2 million, as compared to the Prior Year Quarter. On an adjusted basis for the same period, adjusted net cash used in investing activities decreased by $544.0 million, primarily due to a $624.4 million decrease in acquisition activity, partially offset by a $77.3 million decrease in proceeds from the disposition of franchises and property and equipment.

Current wording

For the Current Year, net cash used in investing activities decreased by $297.7 million, as compared to the Prior Year. On an adjusted basis for the same period, adjusted net cash used in investing activities decreased by $281.4 million, primarily due to a $346.4 million decrease in acquisition activity and an $83.4 million decrease in escrow payments for acquisitions, partially offset by a $117.9 million decrease in proceeds from the disposition of franchises and property and equipment.

Previous wording

For the Current Quarter,$52.2 million was used to purchase property and equipment.

Current wording

For the Current Year,$123.9 million was used to purchase property and equipment.

Previous wording

Sources and Uses of Liquidity from Financing Activities — Three Months Ended March 31, 2025 Compared to 2024

Current wording

Sources and Uses of Liquidity from Financing Activities — Six Months Ended June 30, 2025 Compared to 2024

Previous wording

For the Current Quarter, net cash used in financing activities increased by $433.0 million, as compared to the Prior Year Quarter. On an adjusted basis for the same period, adjusted net cash used in financing activities increased by $461.7 million. The increase in net cash used in financing activities on an adjusted basis was primarily driven by a $276.7 million increase in net repayments on the Acquisition Line, a $232.9 million increase in net repayments of other debt, including real estate-related debt and a $69.0 million increase in repurchases of common stock. These increases were partially offset by increases in net borrowings on our U.S. Floorplan line of $118.2 million (representing the net cash activity in our floorplan offset account).

Current wording

For the Current Year, net cash used in financing activities increased by $573.5 million, as compared to the Prior Year. On an adjusted basis for the same period, adjusted net cash provided by financing activities decreased by $325.3 million. The decrease in net cash provided by financing activities on an adjusted basis was primarily driven by decreases in net borrowings of real estate-related and other debt of $386.4 million, decreases in net borrowings on our U.S. Floorplan line of $213.8 million (representing the net cash activity in our floorplan offset account), and a $67.5 million increase in repurchases of common stock. These decreases were partially offset by a $346.1 million increase in net borrowings on the Acquisition Line.