XML 62 R51.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidating Financial Information - Statement of Cash Flows (Details) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Condensed consolidating statement of cash flows    
Net cash provided by (used in) continuing operating activities $ 457.2 $ 373.4
Investing activities:    
Purchase of equipment and improvements (171.7) (151.1)
Acquisition of additional ownership interest in Penske Truck Leasing (498.5)  
Acquisitions, net (106.0) (85.4)
Other (9.5) 0.2
Net cash used in continuing investing activities (785.7) (236.3)
Financing activities:    
Net borrowings (repayments) of long-term debt 119.3 (165.7)
Net borrowings (repayments) of floor plan notes payable—non-trade 12.8 94.6
Issuance of 5.50% senior subordinated notes 500.0  
Payment of debt issuance costs (6.7) (1.8)
Repurchases of common stock (173.6) (22.0)
Dividends (70.3) (62.3)
Other (9.7) (5.9)
Net cash provided by (used in) continuing financing activities 371.8 (163.1)
Net cash provided by discontinued operations 3.0 39.7
Effect of exchange rate changes on cash and cash equivalents (19.3) (0.3)
Net change in cash and cash equivalents 27.0 13.4
Cash and cash equivalents, beginning of period 62.4 36.3
Cash and cash equivalents, end of period 89.4 49.7
Reportable legal entities | Penske Automotive Group    
Condensed consolidating statement of cash flows    
Net cash provided by (used in) continuing operating activities (30.2) 28.4
Investing activities:    
Purchase of equipment and improvements (0.8) (1.0)
Acquisition of additional ownership interest in Penske Truck Leasing (498.5)  
Net cash used in continuing investing activities (499.3) (1.0)
Financing activities:    
Net borrowings (repayments) of long-term debt 45.0 (10.0)
Net borrowings (repayments) of floor plan notes payable—non-trade 4.2 66.9
Issuance of 5.50% senior subordinated notes 500.0  
Payment of debt issuance costs (6.7)  
Repurchases of common stock (173.6) (22.0)
Dividends (70.3) (62.3)
Distributions from (to) parent 230.9  
Net cash provided by (used in) continuing financing activities 529.5 (27.4)
Reportable legal entities | Guarantor Subsidiaries    
Condensed consolidating statement of cash flows    
Net cash provided by (used in) continuing operating activities 90.7 154.3
Investing activities:    
Purchase of equipment and improvements (103.5) (74.0)
Acquisitions, net   (21.7)
Other 17.0  
Net cash used in continuing investing activities (86.5) (95.7)
Financing activities:    
Net borrowings (repayments) of long-term debt 8.4 24.0
Net borrowings (repayments) of floor plan notes payable—non-trade 215.5 (130.1)
Distributions from (to) parent (227.4) 8.3
Net cash provided by (used in) continuing financing activities (3.5) (97.8)
Net cash provided by discontinued operations 0.6 39.2
Net change in cash and cash equivalents 1.3  
Cash and cash equivalents, end of period 1.3  
Reportable legal entities | Non-Guarantor Subsidiaries    
Condensed consolidating statement of cash flows    
Net cash provided by (used in) continuing operating activities 396.7 190.7
Investing activities:    
Purchase of equipment and improvements (67.4) (76.1)
Acquisitions, net (106.0) (63.7)
Other (26.5) 0.2
Net cash used in continuing investing activities (199.9) (139.6)
Financing activities:    
Net borrowings (repayments) of long-term debt 65.9 (179.7)
Net borrowings (repayments) of floor plan notes payable—non-trade (206.9) 157.8
Payment of debt issuance costs   (1.8)
Other (9.7) (5.9)
Distributions from (to) parent (3.5) (8.3)
Net cash provided by (used in) continuing financing activities (154.2) (37.9)
Net cash provided by discontinued operations 2.4 0.5
Effect of exchange rate changes on cash and cash equivalents (19.3) (0.3)
Net change in cash and cash equivalents 25.7 13.4
Cash and cash equivalents, beginning of period 62.4 36.3
Cash and cash equivalents, end of period $ 88.1 $ 49.7