XML 24 R4.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenue:      
Total revenues $ 20,118.5 $ 19,284.9 $ 17,232.0
Cost of sales:      
Total cost of sales 17,151.9 16,417.4 14,652.8
Gross profit 2,966.6 2,867.5 2,579.2
Selling, general and administrative expenses 2,302.0 2,223.0 2,008.6
Depreciation 89.7 78.0 70.2
Operating income 574.9 566.5 500.4
Floor plan interest expense (50.9) (44.5) (46.5)
Other interest expense (85.4) (69.4) (52.8)
Gain on investment     16.0
Equity in earnings of affiliates 69.5 39.3 40.8
Income from continuing operations before income taxes 508.1 491.9 457.9
Income taxes (160.7) (158.0) (153.1)
Income from continuing operations 347.4 333.9 304.8
Loss from discontinued operations, net of tax (1.0) (3.5) (14.7)
Net income 346.4 330.4 290.1
Less: Income attributable to non-controlling interests 3.5 4.3 3.4
Net income attributable to Penske Automotive Group common stockholders $ 342.9 $ 326.1 $ 286.7
Basic earnings per share attributable to Penske Automotive Group common stockholders:      
Continuing operations (in dollars per share) $ 4.00 $ 3.67 $ 3.34
Discontinued operations (in dollars per share) (0.01) (0.04) (0.16)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 3.99 $ 3.63 $ 3.17
Shares used in determining basic earnings per share (in shares) 86,000,754 89,759,626 90,318,839
Diluted earnings per share attributable to Penske Automotive Group common stockholders:      
Continuing operations (in dollars per share) $ 4.00 $ 3.67 $ 3.34
Discontinued operations (in dollars per share) (0.01) (0.04) (0.16)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 3.99 $ 3.63 $ 3.17
Shares used in determining diluted earnings per share (in shares) 86,000,754 89,759,626 90,354,839
Amounts attributable to Penske Automotive Group common stockholders:      
Income from continuing operations $ 347.4 $ 333.9 $ 304.8
Less: Income attributable to non-controlling interests 3.5 4.3 3.4
Income from continuing operations, net of tax 343.9 329.6 301.4
Loss from discontinued operations, net of tax (1.0) (3.5) (14.7)
Net income attributable to Penske Automotive Group common stockholders $ 342.9 $ 326.1 $ 286.7
Cash dividends per share (in dollars per share) $ 1.1 $ 0.94 $ 0.78
Retail Automotive Dealership      
Revenue:      
Total revenues $ 18,673.2 $ 17,896.3 $ 16,657.5
Cost of sales:      
Total cost of sales 15,968.4 15,288.3 14,180.1
Retail Commercial Truck Dealership      
Revenue:      
Total revenues 1,000.7 944.1 125.6
Cost of sales:      
Total cost of sales 857.8 797.1 104.5
Commercial Vehicle Distribution and Other      
Revenue:      
Total revenues 444.6 444.5 448.9
Cost of sales:      
Total cost of sales $ 325.7 $ 332.0 $ 368.2