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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue:        
Total revenues $ 6,987.5 $ 3,651.1 $ 12,761.3 $ 8,660.2
Cost of sales:        
Total cost of sales 5,804.8 3,098.2 10,665.4 7,330.6
Gross profit 1,182.7 552.9 2,095.9 1,329.6
Selling, general and administrative expenses 749.8 453.6 1,414.1 1,095.4
Depreciation 30.2 27.9 59.5 56.4
Operating income 402.7 71.4 622.3 177.8
Floor plan interest expense (7.9) (11.7) (17.4) (29.4)
Other interest expense (19.7) (28.4) (37.6) (60.1)
Debt redemption costs (17.0)   (17.0)  
Equity in earnings of affiliates 105.6 29.9 161.0 44.4
Income from continuing operations before income taxes 463.7 61.2 711.3 132.7
Income taxes (123.4) (16.5) (187.9) (36.6)
Income from continuing operations 340.3 44.7 523.4 96.1
Income from discontinued operations, net of tax 0.1 0.1 0.1 0.2
Net income 340.4 44.8 523.5 96.3
Less: Income (loss) attributable to non-controlling interests 1.5 (0.3) 2.1 (0.5)
Net income attributable to Penske Automotive Group common stockholders $ 338.9 $ 45.1 $ 521.4 $ 96.8
Basic earnings per share attributable to Penske Automotive Group common stockholders:        
Continuing operations (in dollars per share) $ 4.20 $ 0.56 $ 6.46 $ 1.20
Discontinued operations (in dollars per share)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 4.20 $ 0.56 $ 6.46 $ 1.20
Shares used in determining basic earnings per share (in shares) 80,691,996 80,421,478 80,649,824 80,731,889
Diluted earnings per share attributable to Penske Automotive Group common stockholders:        
Continuing operations (in dollars per share) $ 4.20 $ 0.56 $ 6.46 $ 1.20
Discontinued operations (in dollars per share)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 4.20 $ 0.56 $ 6.46 $ 1.20
Shares used in determining diluted earnings per share (in shares) 80,726,438 80,461,478 80,684,266 80,771,889
Amounts attributable to Penske Automotive Group common stockholders:        
Income from continuing operations $ 340.3 $ 44.7 $ 523.4 $ 96.1
Less: Income (loss) attributable to non-controlling interests 1.5 (0.3) 2.1 (0.5)
Income from continuing operations, net of tax 338.8 45.0 521.3 96.6
Income from discontinued operations, net of tax 0.1 0.1 0.1 0.2
Net income attributable to Penske Automotive Group common stockholders $ 338.9 45.1 $ 521.4 $ 96.8
Cash dividends per share (in dollars per share) $ 0.44   $ 0.87 $ 0.42
Retail automotive dealership        
Revenue:        
Total revenues $ 6,197.6 3,153.5 $ 11,404.5 $ 7,570.1
Cost of sales:        
Total cost of sales 5,157.2 2,687.2 9,564.2 6,425.7
Retail commercial truck dealership        
Revenue:        
Total revenues 625.3 399.2 1,060.0 890.6
Cost of sales:        
Total cost of sales 522.6 339.0 877.3 761.6
Commercial vehicle distribution        
Revenue:        
Total revenues 164.6 98.4 296.8 199.5
Cost of sales:        
Total cost of sales $ 125.0 $ 72.0 $ 223.9 $ 143.3