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Business Combinations (Tables)
 12 Months Ended
Dec. 31, 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 years ended December 31, 2023 and 2022:
December 31, 2023December 31, 2022
Accounts receivable$— $8.3 
Inventories34.2 111.4 
Other current assets0.2 3.2 
Property and equipment38.7 134.1 
Indefinite-lived intangibles145.2 160.4 
Other noncurrent assets— — 
Current liabilities(3.4)(14.3)
Noncurrent liabilities— (9.7)
Total cash used in acquisitions$214.9 $393.4 
Summary of unaudited consolidated pro forma results of operations
Our following unaudited consolidated pro forma results of operations for the years ended December 31, 2023 and 2022 give effect to acquisitions consummated during 2023 and 2022 as if they had occurred on January 1, 2022. This pro forma information is based on historical results of operations, adjusted for the income statement effects of incremental interest expense directly resulting from the acquisitions and the related tax effects. The pro forma information is not necessarily indicative of the results that would have been achieved had the transactions occurred on the first day of each of the periods presented or that may be achieved in the future:
Year Ended December 31,
20232022
Revenues$29,727.6 $28,624.7 
Income from continuing operations attributable to Penske Automotive Group common stockholders1,057.0 1,393.4 
Net income attributable to Penske Automotive Group common stockholders1,057.0 1,393.4 
Income from continuing operations per diluted common share$15.55 $18.73 
Net income per diluted common share$15.55 $18.73