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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenue:        
Total revenues $ 5,383.4 $ 5,254.1 $ 10,464.5 $ 10,078.7
Cost of sales:        
Total cost of sales 4,566.1 4,482.8 8,872.9 8,583.6
Gross profit 817.3 771.3 1,591.6 1,495.1
Selling, general and administrative expenses 622.0 582.7 1,223.7 1,141.6
Depreciation 23.3 24.5 45.7 45.3
Operating income 172.0 164.1 322.2 308.2
Floor plan interest expense (15.5) (13.1) (29.2) (25.9)
Other interest expense (26.4) (19.5) (51.4) (36.7)
Equity in earnings of affiliates 26.8 12.0 40.0 17.5
Income from continuing operations before income taxes 156.9 143.5 281.6 263.1
Income taxes (50.2) (47.3) (91.3) (86.7)
Income from continuing operations 106.7 96.2 190.3 176.4
Income (loss) from discontinued operations, net of tax 0.2 (1.2) (0.4) (1.2)
Net income 106.9 95.0 189.9 175.2
Less: Income attributable to non-controlling interests 0.7 1.5 1.1 2.4
Net income attributable to Penske Automotive Group common stockholders $ 106.2 $ 93.5 $ 188.8 $ 172.8
Basic earnings per share attributable to Penske Automotive Group common stockholders:        
Continuing operations (in dollars per share) $ 1.23 $ 1.11 $ 2.20 $ 2.01
Discontinued operations (in dollars per share) 0.00 (0.01) 0.00 (0.01)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 1.23 $ 1.10 $ 2.20 $ 1.99
Shares used in determining basic earnings per share (in shares) 86.1 85.3 85.9 86.7
Diluted earnings per share attributable to Penske Automotive Group common stockholders:        
Continuing operations (in dollars per share) $ 1.23 $ 1.11 $ 2.20 $ 2.00
Discontinued operations (in dollars per share) 0.00 (0.01) 0.00 (0.01)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 1.23 $ 1.10 $ 2.20 $ 1.99
Shares used in determining diluted earnings per share (in shares) 86.1 85.3 85.9 86.8
Amounts attributable to Penske Automotive Group common stockholders:        
Income from continuing operations $ 106.7 $ 96.2 $ 190.3 $ 176.4
Less: Income attributable to non-controlling interests 0.7 1.5 1.1 2.4
Income from continuing operations, net of tax 106.0 94.7 189.2 174.0
Income (loss) from discontinued operations, net of tax 0.2 (1.2) (0.4) (1.2)
Net income attributable to Penske Automotive Group common stockholders $ 106.2 $ 93.5 $ 188.8 $ 172.8
Cash dividends per share (in dollars per share) $ 0.31 $ 0.27 $ 0.61 $ 0.53
Retail Automotive Dealership        
Revenue:        
Total revenues $ 5,040.7 $ 4,836.8 $ 9,797.1 $ 9,349.7
Cost of sales:        
Total cost of sales 4,294.7 4,134.8 8,342.8 7,982.7
Retail Commercial Truck Dealership        
Revenue:        
Total revenues 228.5 309.5 440.2 516.2
Cost of sales:        
Total cost of sales 188.5 271.2 363.8 444.7
Commercial Vehicle Distribution and Other        
Revenue:        
Total revenues 114.2 107.8 227.2 212.8
Cost of sales:        
Total cost of sales $ 82.9 $ 76.8 $ 166.3 $ 156.2