Business Combinations (Tables)

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Summary of the aggregate consideration paid and the aggregate amounts of the assets acquired and liabilities assumed

The following table summarizes the aggregate consideration paid and the aggregate amounts of the assets acquired and liabilities assumed for the nine months ended September 30, 2023 and 2022:

	September 30,
	2023		2022
Accounts receivable	$	—	$	8.3
Inventories	33.8		111.4
Other current assets	0.2		3.2
Property and equipment	38.4		134.1
Indefinite-lived intangibles	141.4		160.3
Other noncurrent assets	—		—
Current liabilities	(2.5)		(14.2)
Noncurrent liabilities	—		(9.7)
Total cash used in acquisitions	$	211.3	$	393.4

Summary of unaudited consolidated pro forma results of operations

Our following unaudited consolidated pro forma results of operations for the three and nine months ended September 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Revenues	$	7,465.1	$	7,069.9	$	22,418.6	$	21,484.8
Net income attributable to Penske Automotive Group common stockholders	263.7		342.4		866.0		1,094.0
Net income per diluted common share	$	3.92	$	4.64	$	12.69	$	14.47