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Business Combinations
 6 Months Ended
Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Business Combinations Business Combinations
During the six months ended June 30, 2023, we acquired Transolutions Truck Centres, a retailer of heavy- and medium-duty commercial trucks and buses across the greater Winnipeg, Manitoba market, adding three full-service dealerships and two service and parts centers to PTG’s operations. During the six months ended June 30, 2022, we acquired TEAM Truck Centres, a retailer of heavy- and medium-duty Freightliner and Western Star commercial trucks located in Ontario, Canada representing four full-service dealerships. During the six months ended June 30, 2022, we also acquired ten retail automotive franchises, consisting of six franchises in the U.K. and four franchises in the U.S. Our financial statements include the results of operations of the acquired entity from the date of acquisition. The fair value of the assets acquired and liabilities assumed have been recorded in our consolidated condensed financial statements and may be subject to adjustment pending completion of final valuation. The following table summarizes the aggregate consideration paid and the aggregate amounts of the assets acquired and liabilities assumed for the six months ended June 30, 2023 and 2022:
June 30,
20232022
Accounts receivable$— $8.3 
Inventories25.3 71.5 
Other current assets0.1 3.2 
Property and equipment2.8 43.3 
Indefinite-lived intangibles54.1 120.9 
Other noncurrent assets— — 
Current liabilities(1.8)(11.3)
Noncurrent liabilities— (10.0)
Total cash used in acquisitions$80.5 $225.9 
Our following unaudited consolidated pro forma results of operations for the three and six months ended June 30, 2023 and 2022 give effect to acquisitions consummated during 2023 and 2022 as if they had occurred effective at the beginning of the period:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Revenues$7,499.2 $7,074.4 $14,884.2 $14,345.6 
Net income attributable to Penske Automotive Group common stockholders301.5 375.9 601.0 749.3 
Net income per diluted common share$4.42 $4.96 $8.75 $9.79