XML 62 R51.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidating Financial Information - Statement of Cash Flows (Details) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Condensed consolidating statement of cash flows    
Net cash provided by (used in) continuing operating activities $ 320.5 $ 270.6
Investing activities:    
Purchase of equipment and improvements (113.4) (136.7)
Acquisitions, net (431.9) (65.4)
Other 15.0 (25.0)
Net cash used in continuing investing activities (530.3) (227.1)
Financing activities:    
Issuance of 5.50% senior subordinated notes   500.0
Net borrowings of long-term debt 137.9 (99.1)
Net borrowings (repayments) of floor plan notes payable—non-trade 131.3 (163.0)
Payment of debt issuance costs   (6.6)
Repurchases of common stock (8.5) (173.6)
Dividends (52.4) (46.4)
Other (5.8) (15.9)
Net cash provided by (used in) continuing financing activities 202.5 (4.6)
Net cash provided by discontinued operations 2.5 2.9
Effect of exchange rate changes on cash and cash equivalents 1.5 (6.7)
Net change in cash and cash equivalents (3.3) 35.1
Cash and cash equivalents, beginning of period 24.0 62.4
Cash and cash equivalents, end of period 20.7 97.5
Reportable legal entities | Penske Automotive Group    
Condensed consolidating statement of cash flows    
Net cash provided by (used in) continuing operating activities (50.5) (84.0)
Investing activities:    
Purchase of equipment and improvements (1.4) (0.4)
Other 6.0  
Net cash used in continuing investing activities 4.6 (0.4)
Financing activities:    
Issuance of 5.50% senior subordinated notes   500.0
Net borrowings of long-term debt 83.0 (160.0)
Net borrowings (repayments) of floor plan notes payable—non-trade 29.6 (149.7)
Payment of debt issuance costs   (6.6)
Repurchases of common stock (8.5) (173.6)
Dividends (52.4) (46.4)
Other (5.8) (6.1)
Distributions from (to) parent   126.8
Net cash provided by (used in) continuing financing activities 45.9 84.4
Reportable legal entities | Guarantor Subsidiaries    
Condensed consolidating statement of cash flows    
Net cash provided by (used in) continuing operating activities 252.6 109.5
Investing activities:    
Purchase of equipment and improvements (49.4) (149.9)
Acquisitions, net (316.9) (65.1)
Other 9.0 0.4
Net cash used in continuing investing activities (357.3) (214.6)
Financing activities:    
Net borrowings of long-term debt 10.8 36.9
Net borrowings (repayments) of floor plan notes payable—non-trade 80.2 209.3
Other   (5.2)
Distributions from (to) parent 3.7 (125.0)
Net cash provided by (used in) continuing financing activities 94.7 116.0
Net cash provided by discontinued operations 2.5 0.3
Net change in cash and cash equivalents (7.5) 11.2
Cash and cash equivalents, beginning of period 9.4  
Cash and cash equivalents, end of period 1.9 11.2
Reportable legal entities | Non-Guarantor Subsidiaries    
Condensed consolidating statement of cash flows    
Net cash provided by (used in) continuing operating activities 118.4 245.1
Investing activities:    
Purchase of equipment and improvements (62.6) 13.6
Acquisitions, net (115.0) (0.3)
Other   (25.4)
Net cash used in continuing investing activities (177.6) (12.1)
Financing activities:    
Net borrowings of long-term debt 44.1 24.0
Net borrowings (repayments) of floor plan notes payable—non-trade 21.5 (222.6)
Other   (4.6)
Distributions from (to) parent (3.7) (1.8)
Net cash provided by (used in) continuing financing activities 61.9 (205.0)
Net cash provided by discontinued operations   2.6
Effect of exchange rate changes on cash and cash equivalents 1.5 (6.7)
Net change in cash and cash equivalents 4.2 23.9
Cash and cash equivalents, beginning of period 14.6 62.4
Cash and cash equivalents, end of period $ 18.8 $ 86.3