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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue:        
Total revenues $ 7,468.5 $ 6,906.9 $ 14,807.5 $ 13,882.3
Cost of sales:        
Total cost of sales 6,195.5 5,669.9 12,282.2 11,413.6
Gross profit 1,273.0 1,237.0 2,525.3 2,468.7
Selling, general, and administrative expenses 858.1 817.7 1,703.0 1,615.5
Depreciation 34.1 31.7 68.0 63.6
Operating income 380.8 387.6 754.3 789.6
Floor plan interest expense (30.8) (9.0) (58.7) (16.5)
Other interest expense (24.2) (17.0) (45.0) (33.5)
Equity in earnings of affiliates 74.5 138.0 156.6 257.6
Income before income taxes 400.3 499.6 807.2 997.2
Income taxes (97.7) (123.7) (205.0) (251.8)
Net income 302.6 375.9 602.2 745.4
Less: Income attributable to non-controlling interests 1.8 1.9 3.1 3.5
Net income attributable to Penske Automotive Group common stockholders $ 300.8 $ 374.0 $ 599.1 $ 741.9
Basic earnings per share attributable to Penske Automotive Group common stockholders:        
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 4.41 $ 4.93 $ 8.72 $ 9.70
Shares used in determining basic earnings per share (in shares) 68,175,825 75,793,239 68,689,106 76,501,402
Diluted earnings per share attributable to Penske Automotive Group common stockholders:        
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 4.41 $ 4.93 $ 8.72 $ 9.70
Shares used in determining diluted earnings per share (in shares) 68,190,828 75,817,119 68,704,109 76,525,282
Amounts attributable to Penske Automotive Group common stockholders:        
Net income $ 302.6 $ 375.9 $ 602.2 $ 745.4
Less: Income attributable to non-controlling interests 1.8 1.9 3.1 3.5
Net income attributable to Penske Automotive Group common stockholders $ 300.8 $ 374.0 $ 599.1 $ 741.9
Cash dividends per share (in dollars per share) $ 0.66 $ 0.50 $ 1.27 $ 0.97
Retail automotive dealership        
Revenue:        
Total revenues $ 6,406.0 $ 5,997.3 $ 12,705.8 $ 12,026.5
Cost of sales:        
Total cost of sales 5,320.1 4,937.3 10,557.3 9,915.8
Retail commercial truck dealership        
Revenue:        
Total revenues 919.2 768.7 1,814.8 1,561.0
Cost of sales:        
Total cost of sales 772.4 632.7 1,521.0 1,283.8
Commercial vehicle distribution and other        
Revenue:        
Total revenues 143.3 140.9 286.9 294.8
Cost of sales:        
Total cost of sales $ 103.0 $ 99.9 $ 203.9 $ 214.0