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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenue:        
Total revenues $ 5,967.6 $ 5,658.6 $ 17,287.8 $ 17,345.8
Cost of sales:        
Total cost of sales 5,097.9 4,806.0 14,698.8 14,739.0
Gross profit 869.7 852.6 2,589.0 2,606.8
Selling, general and administrative expenses 672.8 662.8 2,008.1 2,001.3
Depreciation 27.5 25.9 81.0 77.2
Operating income 169.4 163.9 499.9 528.3
Floor plan interest expense (21.4) (20.2) (64.2) (59.0)
Other interest expense (32.9) (28.3) (93.2) (86.7)
Equity in earnings of affiliates 43.3 41.7 109.6 95.0
Income from continuing operations before income taxes 158.4 157.1 452.1 477.6
Income taxes (42.4) (27.1) (118.6) (104.7)
Income from continuing operations 116.0 130.0 333.5 372.9
Income from discontinued operations, net of tax 0.1 0.1 0.3 0.2
Net income 116.1 130.1 333.8 373.1
Less: (Loss) income attributable to non-controlling interests (0.1) (0.1) (0.4) 0.2
Net income attributable to Penske Automotive Group common stockholders $ 116.2 $ 130.2 $ 334.2 $ 372.9
Basic earnings per share attributable to Penske Automotive Group common stockholders:        
Continuing operations (in dollars per share) $ 1.42 $ 1.53 $ 4.02 $ 4.37
Discontinued operations (in dollars per share)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 1.42 $ 1.53 $ 4.03 $ 4.37
Shares used in determining basic earnings per share (in shares) 81,643,175 84,865,046 82,968,130 85,248,758
Diluted earnings per share attributable to Penske Automotive Group common stockholders:        
Continuing operations (in dollars per share) $ 1.42 $ 1.53 $ 4.02 $ 4.37
Discontinued operations (in dollars per share)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 1.42 $ 1.53 $ 4.03 $ 4.37
Shares used in determining diluted earnings per share (in shares) 81,683,175 84,905,046 83,008,130 85,288,758
Amounts attributable to Penske Automotive Group common stockholders:        
Income from continuing operations $ 116.0 $ 130.0 $ 333.5 $ 372.9
Less: (Loss) income attributable to non-controlling interests (0.1) (0.1) (0.4) 0.2
Income from continuing operations, net of tax 116.1 130.1 333.9 372.7
Income from discontinued operations, net of tax 0.1 0.1 0.3 0.2
Net income attributable to Penske Automotive Group common stockholders $ 116.2 $ 130.2 $ 334.2 $ 372.9
Cash dividends per share (in dollars per share) $ 0.40 $ 0.36 $ 1.17 $ 1.05
Retail Automotive Dealership        
Revenue:        
Total revenues $ 5,155.4 $ 5,148.5 $ 15,442.9 $ 15,900.0
Cost of sales:        
Total cost of sales 4,407.9 4,386.3 13,159.0 13,561.5
Retail Commercial Truck Dealership        
Revenue:        
Total revenues 692.3 385.3 1,451.4 1,016.5
Cost of sales:        
Total cost of sales 605.7 327.5 1,251.9 859.7
Commercial Vehicle Distribution and Other        
Revenue:        
Total revenues 119.9 124.8 393.5 429.3
Cost of sales:        
Total cost of sales $ 84.3 $ 92.2 $ 287.9 $ 317.8