Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | PRE 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | GROUP 1 AUTOMOTIVE INC |
Entity Central Index Key | 0001031203 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | 36 Months Ended | |||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2022 | ||
Pay vs Performance Disclosure [Table] | |||||
Pay vs Performance [Table Text Block] | Pay Versus Performance Disclosure In accordance with rules recently adopted by the SEC, we provide the following disclosure regarding executive “compensation actually paid” (“CAP”) and certain Company performance for the fiscal years listed below. However, this information has not been used to date by the CHR Committee in making executive compensation decisions. Please refer to the CD&A for a complete description of how executive compensation relates to Company performance and how the CHR Committee makes its decisions. Value of Initial Fixed $100 Year Summary Compensation Actually Paid (1)(2) Average Summary (3) Average compensation (1)(2)(3) Total Peer Group Total (4) Net Income Adjusted Net Income (5) (a) (b) (c) (d) (e) (f) (g) (h) (h) 2022 $ 8,774,685 $8,512,251 $ 2,881,512 $ 2,877,697 $ 184.39 $ 189.75 $ 751.5 $ 731.0 2021 $ 8,577,257 $ 19,080,981 $ 2,684,236 $ 4,991,687 $ 197.96 $ 205.74 $ 552.1 $ 642.2 2020 $ 7,298,579 $ 12,911,445 $ 2,657,309 $ 3,543,096 $ 131.93 $ 146.68 $ 286.5 $ 333.5 (1) Deductions from, and additions to, total compensation in the Summary Compensation Table by year to calculate Compensation Actually Paid consist of: 2022 2021 2020 Earl Average Earl Average Earl Average Total Compensation from Summary Compensation Table $ 8,774,685 $ 2,881,512 $ 8,577,257 $ 2,684,236 $ 7,298,579 $ 2,657,309 Adjustments for Pension Adjustment for Summary Compensation Table Pension $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Amount added for current year service cost $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Amount added for prior service cost impacting current year $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Total Adjustments for Pension $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Adjustments for Equity Awards Adjustment for grant date values in the Summary Compensation Table $ (4,488,842 ) $ (1,149,936 ) $ (3,799,959 ) $ (999,887 ) $ (3,646,040 ) $ (1,287,406 ) Year-end fair value of unvested awards granted in the current year $ 5,811,756 $ 1,485,229 $ 5,807,707 $ 1,528,121 $ 5,268,197 $ 1,335,565 Year-over-year difference of year-end fair values for unvested awards granted in prior years $ (1,028,436 ) $ (227,496 ) $ 7,568,869 $ 1,589,904 $ 3,818,938 $ 811,428 Fair values at vest date for awards granted and vested in current year $ 0 $ 0 $ 0 0 $ 0 $ 0 Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years $ (841,875 ) $ (168,849 ) $ 716,391 $ 146,308 $ 100,082 $ 9,537 Forfeitures during current year equal to prior year-end fair value $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Dividends or dividend equivalents not otherwise included in the total compensation $ 284,964 $ 57,237 $ 210,715 $ 44,005 $ 71,689 $ 16,664 Total Adjustments for Equity Awards $ (262,434 ) $ (3,815 ) $ 10,503,724 $ 2,308,451 $ 5,612,866 $ 885,787 Compensation Actually Paid (as calculated) $ 8,512,251 $ 2,877,697 $ 19,080,981 $ 4,992,687 $ 12,911,445 $ 3,543,096 (2) Equity valuation assumptions for calculating Compensation Actually Paid are not materially different from grant date valuation assumptions. (3) Non-CEO NEOs reflect the average Summary Compensation Table total compensation and average Compensation Actually Paid for the following executives by year: 2022: Daryl Kenningham, Daniel McHenry, Peter DeLongchamps, Darryl Burman 2021: Daryl Kenningham, Daniel McHenry, Frank Grese Jr., Peter DeLongchamps 2020: Daryl Kenningham, Daniel McHenry, John Rickel, Frank Grese Jr., Peter DeLongchamps (4) The peer group is comprised of Lithia Motors, Autonation, Sonic Automotive, Penske Automotive Group, and Asbury Automotive Group (5) Reconciliations for Adjusted Net Income can be found on page 97 of this proxy statement | ||||
Company Selected Measure Name | [1] | Adjusted Net Income | |||
Named Executive Officers, Footnote [Text Block] | (3)Non-CEO NEOs reflect the average Summary Compensation Table total compensation and average Compensation Actually Paid for the following executives by year: 2022: Daryl Kenningham, Daniel McHenry, Peter DeLongchamps, Darryl Burman 2021: Daryl Kenningham, Daniel McHenry, Frank Grese Jr., Peter DeLongchamps 2020: Daryl Kenningham, Daniel McHenry, John Rickel, Frank Grese Jr., Peter DeLongchamps | ||||
Peer Group Issuers, Footnote [Text Block] | (4)The peer group is comprised of Lithia Motors, Autonation, Sonic Automotive, Penske Automotive Group, and Asbury Automotive Group | ||||
PEO Total Compensation Amount | $ 8,774,685 | $ 8,577,257 | $ 7,298,579 | ||
PEO Actually Paid Compensation Amount | [2],[3] | 8,512,251 | 19,080,981 | 12,911,445 | |
Adjustment To PEO Compensation, Footnote [Text Block] | (1) Deductions from, and additions to, total compensation in the Summary Compensation Table by year to calculate Compensation Actually Paid consist of: 2022 2021 2020 Earl Average Earl Average Earl Average Total Compensation from Summary Compensation Table $ 8,774,685 $ 2,881,512 $ 8,577,257 $ 2,684,236 $ 7,298,579 $ 2,657,309 Adjustments for Pension Adjustment for Summary Compensation Table Pension $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Amount added for current year service cost $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Amount added for prior service cost impacting current year $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Total Adjustments for Pension $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Adjustments for Equity Awards Adjustment for grant date values in the Summary Compensation Table $ (4,488,842 ) $ (1,149,936 ) $ (3,799,959 ) $ (999,887 ) $ (3,646,040 ) $ (1,287,406 ) Year-end fair value of unvested awards granted in the current year $ 5,811,756 $ 1,485,229 $ 5,807,707 $ 1,528,121 $ 5,268,197 $ 1,335,565 Year-over-year difference of year-end fair values for unvested awards granted in prior years $ (1,028,436 ) $ (227,496 ) $ 7,568,869 $ 1,589,904 $ 3,818,938 $ 811,428 Fair values at vest date for awards granted and vested in current year $ 0 $ 0 $ 0 0 $ 0 $ 0 Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years $ (841,875 ) $ (168,849 ) $ 716,391 $ 146,308 $ 100,082 $ 9,537 Forfeitures during current year equal to prior year-end fair value $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Dividends or dividend equivalents not otherwise included in the total compensation $ 284,964 $ 57,237 $ 210,715 $ 44,005 $ 71,689 $ 16,664 Total Adjustments for Equity Awards $ (262,434 ) $ (3,815 ) $ 10,503,724 $ 2,308,451 $ 5,612,866 $ 885,787 Compensation Actually Paid (as calculated) $ 8,512,251 $ 2,877,697 $ 19,080,981 $ 4,992,687 $ 12,911,445 $ 3,543,096 | ||||
Non-PEO NEO Average Total Compensation Amount | [4] | 2,881,512 | 2,684,236 | 2,657,309 | |
Non-PEO NEO Average Compensation Actually Paid Amount | [2],[3],[4] | $ 2,877,697 | 4,991,687 | 3,543,096 | |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (1) Deductions from, and additions to, total compensation in the Summary Compensation Table by year to calculate Compensation Actually Paid consist of: 2022 2021 2020 Earl Average Earl Average Earl Average Total Compensation from Summary Compensation Table $ 8,774,685 $ 2,881,512 $ 8,577,257 $ 2,684,236 $ 7,298,579 $ 2,657,309 Adjustments for Pension Adjustment for Summary Compensation Table Pension $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Amount added for current year service cost $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Amount added for prior service cost impacting current year $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Total Adjustments for Pension $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Adjustments for Equity Awards Adjustment for grant date values in the Summary Compensation Table $ (4,488,842 ) $ (1,149,936 ) $ (3,799,959 ) $ (999,887 ) $ (3,646,040 ) $ (1,287,406 ) Year-end fair value of unvested awards granted in the current year $ 5,811,756 $ 1,485,229 $ 5,807,707 $ 1,528,121 $ 5,268,197 $ 1,335,565 Year-over-year difference of year-end fair values for unvested awards granted in prior years $ (1,028,436 ) $ (227,496 ) $ 7,568,869 $ 1,589,904 $ 3,818,938 $ 811,428 Fair values at vest date for awards granted and vested in current year $ 0 $ 0 $ 0 0 $ 0 $ 0 Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years $ (841,875 ) $ (168,849 ) $ 716,391 $ 146,308 $ 100,082 $ 9,537 Forfeitures during current year equal to prior year-end fair value $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Dividends or dividend equivalents not otherwise included in the total compensation $ 284,964 $ 57,237 $ 210,715 $ 44,005 $ 71,689 $ 16,664 Total Adjustments for Equity Awards $ (262,434 ) $ (3,815 ) $ 10,503,724 $ 2,308,451 $ 5,612,866 $ 885,787 Compensation Actually Paid (as calculated) $ 8,512,251 $ 2,877,697 $ 19,080,981 $ 4,992,687 $ 12,911,445 $ 3,543,096 | ||||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Pay Versus Performance: Graphical Description The illustrations below provide a graphical description of CAP (as calculated in accordance with the SEC rules) and the following measures: • the Company’s cumulative TSR and the Peer Group’s cumulative TSR; • the Company’s Net Income; and • the Company Selected Measure, which is adjusted net income. CAP and Cumulative TSR / Cumulative TSR of the Peer Group | ||||
Compensation Actually Paid vs. Net Income [Text Block] | CAP and Company Net Income | ||||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | CAP and Adjusted Net Income | ||||
Tabular List [Table Text Block] | Tabular List of Financial Performance Measures In our assessment, the most important financial performance measures used to link CAP (as calculated in accordance with the SEC rules), to our NEOs in 2022 to our performance were: • Adjusted Net Income, • Relative Total Shareholder Return, and • Return on Invested Capital. | ||||
Total Shareholder Return Amount | $ 184.39 | 197.96 | 131.93 | ||
Peer Group Total Shareholder Return Amount | [5] | 189.75 | 205.74 | 146.68 | |
Net Income (Loss) | $ 751.5 | $ 552.1 | $ 286.5 | ||
Company Selected Measure Amount | [1] | 731 | 642.2 | 333.5 | |
Measure [Axis]: 1 | |||||
Pay vs Performance Disclosure [Table] | |||||
Measure Name | Adjusted Net Income | ||||
Measure [Axis]: 2 | |||||
Pay vs Performance Disclosure [Table] | |||||
Measure Name | Relative Total Shareholder Return | ||||
Measure [Axis]: 3 | |||||
Pay vs Performance Disclosure [Table] | |||||
Measure Name | Return on Invested Capital | ||||
PEO [Member] | Adjustment for Summary Compensation Table Pension [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | $ 0 | $ 0 | $ 0 | ||
PEO [Member] | Amount added for current year service cost [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 0 | 0 | 0 | ||
PEO [Member] | Amount added for prior service cost impacting current year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 0 | 0 | 0 | ||
PEO [Member] | Total Pension Adjustments [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 0 | 0 | 0 | ||
PEO [Member] | Adjustment for grant date values in the Summary Compensation Table [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (4,488,842) | (3,799,959) | (3,646,040) | ||
PEO [Member] | Year-end fair value of unvested awards granted in the current year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 5,811,756 | 5,807,707 | 5,268,197 | ||
PEO [Member] | Year-over-year difference of year-end fair values for unvested awards granted in prior years [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (1,028,436) | 7,568,869 | 3,818,938 | ||
PEO [Member] | Fair values at vest date for awards granted and vested in current year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 0 | 0 | 0 | ||
PEO [Member] | Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (841,875) | 716,391 | 100,082 | ||
PEO [Member] | Forfeitures during current year equal to prior year-end fair value [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 0 | 0 | 0 | ||
PEO [Member] | Dividends or dividend equivalents not otherwise included in the total compensation [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 284,964 | 210,715 | 71,689 | ||
PEO [Member] | Total Equity Awards Adjustments [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (262,434) | 10,503,724 | 5,612,866 | ||
Non-PEO NEO [Member] | Adjustment for Summary Compensation Table Pension [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 0 | 0 | 0 | ||
Non-PEO NEO [Member] | Amount added for current year service cost [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 0 | 0 | 0 | ||
Non-PEO NEO [Member] | Amount added for prior service cost impacting current year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 0 | 0 | 0 | ||
Non-PEO NEO [Member] | Total Pension Adjustments [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 0 | 0 | 0 | ||
Non-PEO NEO [Member] | Adjustment for grant date values in the Summary Compensation Table [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (1,149,936) | (999,887) | (1,287,406) | ||
Non-PEO NEO [Member] | Year-end fair value of unvested awards granted in the current year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 1,485,229 | 1,528,121 | 1,335,565 | ||
Non-PEO NEO [Member] | Year-over-year difference of year-end fair values for unvested awards granted in prior years [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (227,496) | 1,589,904 | 811,428 | ||
Non-PEO NEO [Member] | Fair values at vest date for awards granted and vested in current year [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 0 | 0 | 0 | ||
Non-PEO NEO [Member] | Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | (168,849) | 146,308 | 9,537 | ||
Non-PEO NEO [Member] | Forfeitures during current year equal to prior year-end fair value [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 0 | 0 | 0 | ||
Non-PEO NEO [Member] | Dividends or dividend equivalents not otherwise included in the total compensation [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | 57,237 | 44,005 | 16,664 | ||
Non-PEO NEO [Member] | Total Equity Awards Adjustments [Member] | |||||
Pay vs Performance Disclosure [Table] | |||||
Adjustment to Compensation Amount | $ (3,815) | $ 2,308,451 | $ 885,787 | ||
[1](5)Reconciliations for Adjusted Net Income can be found on page 97 of this proxy statement[2] (1) Deductions from, and additions to, total compensation in the Summary Compensation Table by year to calculate Compensation Actually Paid consist of: 2022 2021 2020 Earl Average Earl Average Earl Average Total Compensation from Summary Compensation Table $ 8,774,685 $ 2,881,512 $ 8,577,257 $ 2,684,236 $ 7,298,579 $ 2,657,309 Adjustments for Pension Adjustment for Summary Compensation Table Pension $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Amount added for current year service cost $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Amount added for prior service cost impacting current year $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Total Adjustments for Pension $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Adjustments for Equity Awards Adjustment for grant date values in the Summary Compensation Table $ (4,488,842 ) $ (1,149,936 ) $ (3,799,959 ) $ (999,887 ) $ (3,646,040 ) $ (1,287,406 ) Year-end fair value of unvested awards granted in the current year $ 5,811,756 $ 1,485,229 $ 5,807,707 $ 1,528,121 $ 5,268,197 $ 1,335,565 Year-over-year difference of year-end fair values for unvested awards granted in prior years $ (1,028,436 ) $ (227,496 ) $ 7,568,869 $ 1,589,904 $ 3,818,938 $ 811,428 Fair values at vest date for awards granted and vested in current year $ 0 $ 0 $ 0 0 $ 0 $ 0 Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years $ (841,875 ) $ (168,849 ) $ 716,391 $ 146,308 $ 100,082 $ 9,537 Forfeitures during current year equal to prior year-end fair value $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Dividends or dividend equivalents not otherwise included in the total compensation $ 284,964 $ 57,237 $ 210,715 $ 44,005 $ 71,689 $ 16,664 Total Adjustments for Equity Awards $ (262,434 ) $ (3,815 ) $ 10,503,724 $ 2,308,451 $ 5,612,866 $ 885,787 Compensation Actually Paid (as calculated) $ 8,512,251 $ 2,877,697 $ 19,080,981 $ 4,992,687 $ 12,911,445 $ 3,543,096 (2) Equity valuation assumptions for calculating Compensation Actually Paid are not materially different from grant date valuation assumptions. |