XML 76 R66.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Consolidating Financial Information - Balance Sheet (Details) - USD ($)
$ in Millions
Jun. 30, 2019
Mar. 31, 2019
Jan. 01, 2019
Dec. 31, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Condensed consolidating balance sheet              
Cash and cash equivalents $ 43.8     $ 39.4 $ 45.8   $ 45.7
Accounts receivable, net 944.4     929.1      
Inventories 3,978.0     4,040.1      
Other current assets 109.1     86.6      
Total current assets 5,075.3     5,095.2      
Property and equipment, net 2,308.9     2,250.0      
Operating lease right-of-use assets 2,380.9   $ 2,425.6        
Intangible assets 2,235.0     2,238.2      
Equity method investments 1,342.2     1,305.2      
Other long-term assets 18.8     15.9      
Total assets 13,361.1     10,904.5      
Floor plan notes payable 2,350.3     2,362.2      
Floor plan notes payable - non-trade 1,435.5     1,428.6      
Accounts payable 638.5     598.2      
Accrued expenses and other current liabilities 651.8   636.8 566.6      
Current portion of long-term debt 93.3     92.0      
Liabilities held for sale 0.5     0.7      
Total current liabilities 5,169.9     5,048.3      
Long-term debt 2,134.2     2,124.7      
Long-term operating lease liabilities 2,330.3   2,387.5        
Deferred tax liabilities 604.1   578.7 577.8      
Other long-term liabilities 461.6   $ 481.0 519.0      
Total liabilities 10,700.1     8,269.8      
Total equity 2,661.0 $ 2,660.9   2,634.7 2,525.8 $ 2,494.4 2,428.0
Total liabilities and equity $ 13,361.1     $ 10,904.5      
Domestic Subsidiaries ownership guaranteeing obligations (as a percent) 100.00%            
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%      
Eliminations              
Condensed consolidating balance sheet              
Accounts receivable, net $ (490.9)     $ (481.7)      
Total current assets (490.9)     (481.7)      
Other long-term assets (2,830.9)     (2,814.3)      
Total assets (3,321.8)     (3,296.0)      
Accrued expenses and other current liabilities (490.9)     (481.7)      
Total current liabilities (490.9)     (481.7)      
Long-term debt (82.3)     (88.6)      
Total liabilities (573.2)     (570.3)      
Total equity (2,748.6)     (2,725.7)      
Total liabilities and equity (3,321.8)     (3,296.0)      
Reportable legal entities | Penske Automotive Group              
Condensed consolidating balance sheet              
Accounts receivable, net 490.9     481.7      
Other current assets 8.6     10.6      
Total current assets 499.5     492.3      
Property and equipment, net 3.8     3.9      
Operating lease right-of-use assets 9.5            
Equity method investments 1,276.4     1,239.9      
Other long-term assets 2,838.6     2,821.0      
Total assets 4,627.8     4,557.1      
Floor plan notes payable - non-trade 225.9     232.3      
Accounts payable 4.9     4.9      
Accrued expenses and other current liabilities 1.7     1.4      
Total current liabilities 232.5     238.6      
Long-term debt 1,725.2     1,683.8      
Long-term operating lease liabilities 9.1            
Total liabilities 1,966.8     1,922.4      
Total equity 2,661.0     2,634.7      
Total liabilities and equity 4,627.8     4,557.1      
Reportable legal entities | Guarantor Subsidiaries              
Condensed consolidating balance sheet              
Cash and cash equivalents 2.5     12.9 0.4   14.8
Accounts receivable, net 462.3     507.1      
Inventories 1,966.1     1,961.6      
Other current assets 21.8     17.8      
Total current assets 2,452.7     2,499.4      
Property and equipment, net 1,101.0     1,077.7      
Operating lease right-of-use assets 1,600.0            
Intangible assets 1,422.2     1,422.6      
Other long-term assets 2.8     2.9      
Total assets 6,578.7     5,002.6      
Floor plan notes payable 1,350.6     1,348.3      
Floor plan notes payable - non-trade 473.1     505.9      
Accounts payable 177.5     196.6      
Accrued expenses and other current liabilities 222.0     160.2      
Current portion of long-term debt 10.4     6.3      
Liabilities held for sale 0.5     0.7      
Total current liabilities 2,234.1     2,218.0      
Long-term debt 259.0     225.7      
Long-term operating lease liabilities 1,573.0            
Deferred tax liabilities 598.9     570.5      
Other long-term liabilities 32.0     57.6      
Total liabilities 4,697.0     3,071.8      
Total equity 1,881.7     1,930.8      
Total liabilities and equity 6,578.7     5,002.6      
Reportable legal entities | Non-Guarantor Subsidiaries              
Condensed consolidating balance sheet              
Cash and cash equivalents 41.3     26.5 $ 45.4   $ 30.9
Accounts receivable, net 482.1     422.0      
Inventories 2,011.9     2,078.5      
Other current assets 78.7     58.2      
Total current assets 2,614.0     2,585.2      
Property and equipment, net 1,204.1     1,168.4      
Operating lease right-of-use assets 771.4            
Intangible assets 812.8     815.6      
Equity method investments 65.8     65.3      
Other long-term assets 8.3     6.3      
Total assets 5,476.4     4,640.8      
Floor plan notes payable 999.7     1,013.9      
Floor plan notes payable - non-trade 736.5     690.4      
Accounts payable 456.1     396.7      
Accrued expenses and other current liabilities 919.0     886.7      
Current portion of long-term debt 82.9     85.7      
Total current liabilities 3,194.2     3,073.4      
Long-term debt 232.3     303.8      
Long-term operating lease liabilities 748.2            
Deferred tax liabilities 5.2     7.3      
Other long-term liabilities 429.6     461.4      
Total liabilities 4,609.5     3,845.9      
Total equity 866.9     794.9      
Total liabilities and equity $ 5,476.4     $ 4,640.8