XML 74 R64.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidating Financial Information - Balance Sheet (Details) - USD ($)
$ in Millions
Mar. 31, 2019
Jan. 01, 2019
Dec. 31, 2018
Mar. 31, 2018
Dec. 31, 2017
Condensed consolidating balance sheet          
Cash and cash equivalents $ 43.5   $ 39.4 $ 52.8 $ 45.7
Accounts receivable, net 1,034.1   929.1    
Inventories 4,104.1   4,040.1    
Other current assets 101.5   86.6    
Total current assets 5,283.2   5,095.2    
Property and equipment, net 2,276.1   2,250.0    
Operating lease right-of-use assets 2,416.4 $ 2,425.6      
Intangible assets 2,247.9   2,238.2    
Equity method investments 1,332.4   1,305.2    
Other long-term assets 18.9   15.9    
Total assets 13,574.9   10,904.5    
Floor plan notes payable 2,419.2   2,362.2    
Floor plan notes payable - non-trade 1,488.7   1,428.6    
Accounts payable 668.5   598.2    
Accrued expenses and other current liabilities 704.7 636.8 566.6    
Current portion of long-term debt 94.5   92.0    
Liabilities held for sale 0.5   0.7    
Total current liabilities 5,376.1   5,048.3    
Long-term debt 2,118.3   2,124.7    
Long-term operating lease liabilities 2,378.2 2,387.5      
Deferred tax liabilities 591.4 578.7 577.8    
Other long-term liabilities 450.0 $ 481.0 519.0    
Total liabilities 10,914.0   8,269.8    
Total equity 2,660.9   2,634.7 2,494.4 2,428.0
Total liabilities and equity $ 13,574.9   $ 10,904.5    
3.75% senior subordinated notes due 2020          
Condensed consolidating balance sheet          
Interest rate (as a percent) 3.75%   3.75%    
5.75% senior subordinated notes due 2022          
Condensed consolidating balance sheet          
Interest rate (as a percent) 5.75%   5.75%    
5.375% senior subordinated notes due 2024          
Condensed consolidating balance sheet          
Interest rate (as a percent) 5.375%   5.375%    
5.50% senior subordinated notes due 2026          
Condensed consolidating balance sheet          
Interest rate (as a percent) 5.50%   5.50%    
Guarantor Subsidiaries          
Condensed consolidating balance sheet          
Domestic Subsidiaries ownership guaranteeing obligations (as a percent) 100.00%        
Eliminations          
Condensed consolidating balance sheet          
Accounts receivable, net $ (481.1)   $ (481.7)    
Total current assets (481.1)   (481.7)    
Other long-term assets (2,826.7)   (2,814.3)    
Total assets (3,307.8)   (3,296.0)    
Accrued expenses and other current liabilities (481.1)   (481.7)    
Total current liabilities (481.1)   (481.7)    
Long-term debt (84.0)   (88.6)    
Total liabilities (565.1)   (570.3)    
Total equity (2,742.7)   (2,725.7)    
Total liabilities and equity (3,307.8)   (3,296.0)    
Reportable legal entities | Penske Automotive Group          
Condensed consolidating balance sheet          
Accounts receivable, net 481.1   481.7    
Other current assets 8.6   10.6    
Total current assets 489.7   492.3    
Property and equipment, net 3.9   3.9    
Operating lease right-of-use assets 9.5        
Equity method investments 1,267.3   1,239.9    
Other long-term assets 2,834.0   2,821.0    
Total assets 4,604.4   4,557.1    
Floor plan notes payable - non-trade 219.9   232.3    
Accounts payable 3.4   4.9    
Accrued expenses and other current liabilities 1.5   1.4    
Total current liabilities 224.8   238.6    
Long-term debt 1,709.6   1,683.8    
Long-term operating lease liabilities 9.2        
Total liabilities 1,943.6   1,922.4    
Total equity 2,660.8   2,634.7    
Total liabilities and equity 4,604.4   4,557.1    
Reportable legal entities | Guarantor Subsidiaries          
Condensed consolidating balance sheet          
Cash and cash equivalents     12.9   14.8
Accounts receivable, net 473.5   507.1    
Inventories 1,945.8   1,961.6    
Other current assets 17.8   17.8    
Total current assets 2,437.1   2,499.4    
Property and equipment, net 1,086.8   1,077.7    
Operating lease right-of-use assets 1,627.9        
Intangible assets 1,422.2   1,422.6    
Other long-term assets 2.9   2.9    
Total assets 6,576.9   5,002.6    
Floor plan notes payable 1,306.4   1,348.3    
Floor plan notes payable - non-trade 503.1   505.9    
Accounts payable 187.4   196.6    
Accrued expenses and other current liabilities 228.8   160.2    
Current portion of long-term debt 9.6   6.3    
Liabilities held for sale 0.5   0.7    
Total current liabilities 2,235.8   2,218.0    
Long-term debt 219.9   225.7    
Long-term operating lease liabilities 1,613.3        
Deferred tax liabilities 583.5   570.5    
Other long-term liabilities 33.8   57.6    
Total liabilities 4,686.3   3,071.8    
Total equity 1,890.6   1,930.8    
Total liabilities and equity 6,576.9   5,002.6    
Reportable legal entities | Non-Guarantor Subsidiaries          
Condensed consolidating balance sheet          
Cash and cash equivalents 43.5   26.5 $ 52.8 $ 30.9
Accounts receivable, net 560.6   422.0    
Inventories 2,158.3   2,078.5    
Other current assets 75.1   58.2    
Total current assets 2,837.5   2,585.2    
Property and equipment, net 1,185.4   1,168.4    
Operating lease right-of-use assets 779.0        
Intangible assets 825.7   815.6    
Equity method investments 65.1   65.3    
Other long-term assets 8.7   6.3    
Total assets 5,701.4   4,640.8    
Floor plan notes payable 1,112.8   1,013.9    
Floor plan notes payable - non-trade 765.7   690.4    
Accounts payable 477.7   396.7    
Accrued expenses and other current liabilities 955.5   886.7    
Current portion of long-term debt 84.9   85.7    
Total current liabilities 3,396.6   3,073.4    
Long-term debt 272.8   303.8    
Long-term operating lease liabilities 755.7        
Deferred tax liabilities 7.9   7.3    
Other long-term liabilities 416.2   461.4    
Total liabilities 4,849.2   3,845.9    
Total equity 852.2   794.9    
Total liabilities and equity $ 5,701.4   $ 4,640.8