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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue:      
Total revenues $ 29,527.4 $ 27,814.8 $ 25,554.7
Cost of sales:      
Total cost of sales 24,593.6 22,976.0 21,113.9
Gross profit 4,933.8 4,838.8 4,440.8 Close
Selling, general and administrative expenses 3,400.6 3,223.7 2,962.9 Close
Impairment charges 40.7 0.0 0.0 Close
Depreciation 141.0 127.3 121.5 CloseClose
Total Operating Expenses 3582.3 3351.0 3084.4 0 0 Close
Operating income 1,351.5 1,487.8 1,356.4 Close
Floor plan interest expense (133.1) (52.4) (26.2) Close
Other interest expense (92.6) (70.4) (68.6) Close
Debt redemption costs 0.0 0.0 (17.0) Close
Loss on investment 0.0 0.0 (11.4) Close
Total Other Income Expenses 68.0 371.4 251.3 0 0 Close
Equity in earnings of affiliates 293.7 494.2 374.5 CloseClose
Income from continuing operations before income taxes 1,419.5 1,859.2 1,607.7 Close
Income taxes (360.9) (473.0) (416.3) Close
Income from continuing operations 1,058.6 1,386.2 1,191.4
Income from discontinued operations, net of tax 0.0 0.0 1.3 Close
Net income 1,058.6 1,386.2 1,192.7 Close
Less: Income attributable to non-controlling interests 5.4 6.2 4.9
Net income attributable to Penske Automotive Group common stockholders $ 1,053.2 $ 1,380.0 $ 1,187.8
Basic earnings per share attributable to Penske Automotive Group common stockholders:      
Continuing operations (in dollars per share) $ 15.50 $ 18.55 $ 14.88
Discontinued operations (in dollars per share) 0.00 0.00 0.01
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 15.50 $ 18.55 $ 14.89
Shares used in determining basic earnings per share (in shares) 67,963,956 74,394,799 79,746,106
Diluted earnings per share attributable to Penske Automotive Group common stockholders:      
Continuing operations (in dollars per share) $ 15.50 $ 18.55 $ 14.88
Discontinued operations (in dollars per share) 0.00 0.00 0.01
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 15.50 $ 18.55 $ 14.89
Shares used in determining diluted earnings per share (in shares) 67,963,956 74,394,799 79,746,106
Amounts attributable to Penske Automotive Group common stockholders:      
Income from continuing operations $ 1,058.6 $ 1,386.2 $ 1,191.4
Less: Income attributable to non-controlling interests 5.4 6.2 4.9
Income from continuing operations, net of tax 1,053.2 1,380.0 1,186.5
Income from discontinued operations, net of tax 0.0 0.0 1.3
Net income attributable to Penske Automotive Group common stockholders $ 1,053.2 $ 1,380.0 $ 1,187.8
Cash dividends per share (in dollars per share) $ 2.78 $ 2.07 $ 1.78
Retail automotive dealership      
Revenue:      
Total revenues $ 25,209.1 $ 23,694.7 $ 22,513.3
Cost of sales:      
Total cost of sales 21,032.9 19,568.3 18,643.1
Impairment charges 40.7    
Retail commercial truck dealership      
Revenue:      
Total revenues 3,684.3 3,541.3 2,465.7
Cost of sales:      
Total cost of sales 3,091.9 2,986.2 2,048.8
Impairment charges 0.0    
Commercial vehicle distribution and other      
Revenue:      
Total revenues 634.0 578.8 575.7
Cost of sales:      
Total cost of sales $ 468.8 $ 421.5 $ 422.0