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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue:        
Total revenues $ 5,971.6 $ 5,967.6 $ 14,631.8 $ 17,287.8
Cost of sales:        
Total cost of sales 5,015.1 5,097.9 12,345.7 14,698.8
Gross profit 956.5 869.7 2,286.1 2,589.0
Selling, general and administrative expenses 643.3 672.8 1,738.7 2,008.1
Depreciation 29.0 27.5 85.4 81.0
Operating income 284.2 169.4 462.0 499.9
Floor plan interest expense (8.0) (21.4) (37.4) (64.2)
Other interest expense (30.8) (32.9) (90.9) (93.2)
Equity in earnings of affiliates 66.2 43.3 110.6 109.6
Income from continuing operations before income taxes 311.6 158.4 444.3 452.1
Income taxes (64.1) (42.4) (100.7) (118.6)
Income from continuing operations 247.5 116.0 343.6 333.5
Income from discontinued operations, net of tax 0.1 0.1 0.3 0.3
Net income 247.6 116.1 343.9 333.8
Less: Income (loss) attributable to non-controlling interests 1.0 (0.1) 0.5 (0.4)
Net income attributable to Penske Automotive Group common stockholders $ 246.6 $ 116.2 $ 343.4 $ 334.2
Basic earnings per share attributable to Penske Automotive Group common stockholders:        
Continuing operations (in dollars per share) $ 3.07 $ 1.42 $ 4.27 $ 4.02
Discontinued operations (in dollars per share)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 3.07 $ 1.42 $ 4.27 $ 4.03
Shares used in determining basic earnings per share (in shares) 80,340,076 81,643,175 80,368,589 82,968,130
Diluted earnings per share attributable to Penske Automotive Group common stockholders:        
Continuing operations (in dollars per share) $ 3.07 $ 1.42 $ 4.27 $ 4.02
Discontinued operations (in dollars per share)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 3.07 $ 1.42 $ 4.27 $ 4.03
Shares used in determining diluted earnings per share (in shares) 80,380,076 81,683,175 80,408,589 83,008,130
Amounts attributable to Penske Automotive Group common stockholders:        
Income from continuing operations $ 247.5 $ 116.0 $ 343.6 $ 333.5
Less: Income (loss) attributable to non-controlling interests 1.0 (0.1) 0.5 (0.4)
Income from continuing operations, net of tax 246.5 116.1 343.1 333.9
Income from discontinued operations, net of tax 0.1 0.1 0.3 0.3
Net income attributable to Penske Automotive Group common stockholders 246.6 $ 116.2 $ 343.4 $ 334.2
Cash dividends per share (in dollars per share)   $ 0.40 $ 0.42 $ 1.17
Retail Automotive Dealership        
Revenue:        
Total revenues 5,258.0 $ 5,155.4 $ 12,828.1 $ 15,442.9
Cost of sales:        
Total cost of sales 4,408.3 4,407.9 10,834.0 13,159.0
Retail Commercial Truck Dealership        
Revenue:        
Total revenues 590.9 692.3 1,481.5 1,451.4
Cost of sales:        
Total cost of sales 517.8 605.7 1,279.4 1,251.9
Commercial Vehicle Distribution and Other        
Revenue:        
Total revenues 122.7 119.9 322.2 393.5
Cost of sales:        
Total cost of sales $ 89.0 $ 84.3 $ 232.3 $ 287.9