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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenue:        
Total revenues $ 3,651.1 $ 5,755.8 $ 8,660.2 $ 11,320.2
Cost of sales:        
Total cost of sales 3,098.2 4,888.0 7,330.6 9,600.9
Gross profit 552.9 867.8 1,329.6 1,719.3
Selling, general and administrative expenses 453.6 668.9 1,095.4 1,335.3
Depreciation 27.9 27.1 56.4 53.5
Operating income 71.4 171.8 177.8 330.5
Floor plan interest expense (11.7) (21.0) (29.4) (42.8)
Other interest expense (28.4) (30.4) (60.1) (60.3)
Equity in earnings of affiliates 29.9 39.5 44.4 66.3
Income from continuing operations before income taxes 61.2 159.9 132.7 293.7
Income taxes (16.5) (41.5) (36.6) (76.2)
Income from continuing operations 44.7 118.4 96.1 217.5
Income from discontinued operations, net of tax 0.1 0.1 0.2 0.2
Net income 44.8 118.5 96.3 217.7
Less: (Loss) Income attributable to non-controlling interests (0.3) 0.7 (0.5) (0.3)
Net income attributable to Penske Automotive Group common stockholders $ 45.1 $ 117.8 $ 96.8 $ 218.0
Basic earnings per share attributable to Penske Automotive Group common stockholders:        
Continuing operations (in dollars per share) $ 0.56 $ 1.42 $ 1.20 $ 2.61
Discontinued operations (in dollars per share)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 0.56 $ 1.42 $ 1.20 $ 2.61
Shares used in determining basic earnings per share (in shares) 80,421,478 82,872,330 80,731,889 83,625,142
Diluted earnings per share attributable to Penske Automotive Group common stockholders:        
Continuing operations (in dollars per share) $ 0.56 $ 1.42 $ 1.20 $ 2.60
Discontinued operations (in dollars per share)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 0.56 $ 1.42 $ 1.20 $ 2.61
Shares used in determining diluted earnings per share (in shares) 80,461,478 82,912,330 80,771,889 83,665,142
Amounts attributable to Penske Automotive Group common stockholders:        
Income from continuing operations $ 44.7 $ 118.4 $ 96.1 $ 217.5
Less: (Loss) Income attributable to non-controlling interests (0.3) 0.7 (0.5) (0.3)
Income from continuing operations, net of tax 45.0 117.7 96.6 217.8
Income from discontinued operations, net of tax 0.1 0.1 0.2 0.2
Net income attributable to Penske Automotive Group common stockholders 45.1 $ 117.8 $ 96.8 $ 218.0
Cash dividends per share (in dollars per share)   $ 0.39 $ 0.42 $ 0.77
Retail Automotive Dealership        
Revenue:        
Total revenues 3,153.5 $ 5,196.3 $ 7,570.1 $ 10,287.5
Cost of sales:        
Total cost of sales 2,687.2 4,421.4 6,425.7 8,751.1
Retail Commercial Truck Dealership        
Revenue:        
Total revenues 399.2 426.8 890.6 759.1
Cost of sales:        
Total cost of sales 339.0 368.3 761.6 646.2
Commercial Vehicle Distribution and Other        
Revenue:        
Total revenues 98.4 132.7 199.5 273.6
Cost of sales:        
Total cost of sales $ 72.0 $ 98.3 $ 143.3 $ 203.6