XML 62 R49.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidating Financial Information - Balance Sheet (Details) - USD ($)
$ in Millions
Jun. 30, 2016
May 31, 2016
Dec. 31, 2015
Jun. 30, 2015
Dec. 31, 2014
Nov. 30, 2014
Aug. 31, 2012
Condensed consolidating balance sheet              
Cash and cash equivalents $ 97.5   $ 62.4 $ 39.4 $ 36.3    
Accounts receivable, net 827.8   782.3        
Inventories 3,351.8   3,463.5        
Other current assets 101.7   85.6        
Assets held for sale 6.8   12.7        
Total current assets 4,385.6   4,406.5        
Property and equipment, net 1,576.7   1,520.1        
Intangible assets 1,722.2   1,731.2        
Equity method investments 371.1   336.4        
Other long-term assets 19.6   19.2        
Total assets 8,075.2   8,013.4        
Floor plan notes payable 2,061.8   2,247.2        
Floor plan notes payable - non-trade 969.4   1,132.4        
Accounts payable 554.8   493.8        
Accrued expenses 403.3   378.1        
Current portion of long-term debt 47.7   28.0        
Liabilities held for sale 4.6   6.2        
Total current liabilities 4,041.6   4,285.7        
Long-term debt 1,613.1   1,247.0        
Deferred tax liabilities 449.4   433.4        
Other long-term liabilities 238.2   212.4        
Total liabilities 6,342.3   6,178.5        
Total equity 1,732.9   1,834.9        
Total liabilities and equity $ 8,075.2   $ 8,013.4        
5.75% senior subordinated notes due 2022              
Condensed consolidating balance sheet              
Interest rate (as a percent) 5.75%   5.75%       5.75%
Domestic Subsidiaries ownership guaranteeing obligations (as a percent) 100.00%            
5.375% Senior Subordinated Notes Due 2024              
Condensed consolidating balance sheet              
Interest rate (as a percent) 5.375%   5.375%     5.375%  
Domestic Subsidiaries ownership guaranteeing obligations (as a percent) 100.00%            
5.50% senior subordinated notes due 2026              
Condensed consolidating balance sheet              
Interest rate (as a percent) 5.50% 5.50%          
Domestic Subsidiaries ownership guaranteeing obligations (as a percent) 100.00%            
Eliminations              
Condensed consolidating balance sheet              
Accounts receivable, net $ (439.7)   $ (430.4)        
Total current assets (439.7)   (430.4)        
Other long-term assets (2,316.0)   (2,253.4)        
Total assets (2,755.7)   (2,683.8)        
Accrued expenses (439.7)   (430.4)        
Total current liabilities (439.7)   (430.4)        
Long-term debt (160.7)   (256.4)        
Total liabilities (600.4)   (686.8)        
Total equity (2,155.3)   (1,997.0)        
Total liabilities and equity (2,755.7)   (2,683.8)        
Reportable legal entities | Penske Automotive Group              
Condensed consolidating balance sheet              
Accounts receivable, net 439.7   430.4        
Other current assets 3.2   3.9        
Total current assets 442.9   434.3        
Property and equipment, net 3.6   4.0        
Equity method investments 309.6   298.2        
Other long-term assets 2,322.1   2,259.9        
Total assets 3,078.2   2,996.4        
Floor plan notes payable - non-trade 5.0   154.7        
Accounts payable 2.6   4.8        
Accrued expenses 0.9   0.1        
Total current liabilities 8.5   159.6        
Long-term debt 1,336.8   1,001.9        
Total liabilities 1,345.3   1,161.5        
Total equity 1,732.9   1,834.9        
Total liabilities and equity 3,078.2   2,996.4        
Reportable legal entities | Guarantor Subsidiaries              
Condensed consolidating balance sheet              
Cash and cash equivalents 11.2            
Accounts receivable, net 414.8   400.8        
Inventories 1,911.5   1,650.5        
Other current assets 33.5   28.3        
Assets held for sale 6.8   8.5        
Total current assets 2,377.8   2,088.1        
Property and equipment, net 950.9   822.0        
Intangible assets 1,099.9   878.9        
Other long-term assets 7.6   7.2        
Total assets 4,436.2   3,796.2        
Floor plan notes payable 1,213.7   1,295.0        
Floor plan notes payable - non-trade 549.1   339.8        
Accounts payable 176.2   143.3        
Accrued expenses 171.1   112.3        
Current portion of long-term debt 11.2   5.7        
Liabilities held for sale 4.4   4.4        
Total current liabilities 2,125.7   1,900.5        
Long-term debt 196.1   109.2        
Deferred tax liabilities 433.7   413.4        
Other long-term liabilities 64.5   68.9        
Total liabilities 2,820.0   2,492.0        
Total equity 1,616.2   1,304.2        
Total liabilities and equity 4,436.2   3,796.2        
Reportable legal entities | Non-Guarantor Subsidiaries              
Condensed consolidating balance sheet              
Cash and cash equivalents 86.3   62.4 $ 39.4 $ 36.3    
Accounts receivable, net 413.0   381.5        
Inventories 1,440.3   1,813.0        
Other current assets 65.0   53.4        
Assets held for sale     4.2        
Total current assets 2,004.6   2,314.5        
Property and equipment, net 622.2   694.1        
Intangible assets 622.3   852.3        
Equity method investments 61.5   38.2        
Other long-term assets 5.9   5.5        
Total assets 3,316.5   3,904.6        
Floor plan notes payable 848.1   952.2        
Floor plan notes payable - non-trade 415.3   637.9        
Accounts payable 376.0   345.7        
Accrued expenses 671.0   696.1        
Current portion of long-term debt 36.5   22.3        
Liabilities held for sale 0.2   1.8        
Total current liabilities 2,347.1   2,656.0        
Long-term debt 240.9   392.3        
Deferred tax liabilities 15.7   20.0        
Other long-term liabilities 173.7   143.5        
Total liabilities 2,777.4   3,211.8        
Total equity 539.1   692.8        
Total liabilities and equity $ 3,316.5   $ 3,904.6