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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Operating Activities:    
Net income $ 186,046 $ 137,931
Adjustments to reconcile net income to net cash from continuing operating activities:    
Depreciation 45,300 40,014
Earnings of equity method investments (18,456) (16,796)
Loss from discontinued operations, net of tax 1,889 4,634
Debt redemption costs   17,753
Deferred income taxes 47,145 14,867
Changes in operating assets and liabilities:    
Accounts receivable (17,699) (31,591)
Inventories (156,158) (190,627)
Floor plan notes payable 126,343 256,015
Accounts payable and accrued expenses 72,269 37,560
Other 11,318 (7,012)
Net cash from continuing operating activities 297,997 262,748
Investing Activities:    
Purchase of equipment and improvements (122,952) (96,380)
Purchase of Penske Car Rental vehicles (82,313)  
Proceeds from sale-leaseback transactions   1,584
Acquisitions net, including repayment of sellers' floor plan notes payable of $1,045 and $49,467, respectively (221,160) (137,805)
Other (7,493) 3,496
Net cash from continuing investing activities (433,918) (229,105)
Financing Activities:    
Proceeds from borrowings under U.S. credit agreement revolving credit line 808,700 525,800
Repayments under U.S. credit agreement revolving credit line (814,700) (657,800)
Repayments under U.S. credit agreement term loan (12,000) (17,000)
Repurchase of 3.5% senior subordinated convertible notes   (62,687)
Issuance of 5.75% senior subordinated notes   550,000
Repurchase of 7.75% senior subordinated notes   (390,755)
Net borrowings (repayments) of car rental revolver 73,885  
Net borrowings (repayments) of other long-term debt 67,940 15,087
Net borrowings (repayments) of floor plan notes payable - non-trade 76,525 32,410
Repurchases of common stock (15,813) (9,829)
Dividends (40,663) (29,760)
Payment of deferred financing fees   (8,502)
Other 235  
Net cash from continuing financing activities 144,109 (53,036)
Discontinued operations:    
Net cash from discontinued operating activities 11,845 (3,704)
Net cash from discontinued investing activities 29,857 34,902
Net cash from discontinued financing activities (22,236) (12,916)
Net cash from discontinued operations 19,466 18,282
Net change in cash and cash equivalents 27,654 (1,111)
Cash and cash equivalents, beginning of period 43,447 26,997
Cash and cash equivalents, end of period 71,101 25,886
Cash paid for:    
Interest 61,986 64,340
Income taxes $ 23,200 $ 35,232