XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.2Close
CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Total revenues $ 7,696.7 $ 7,468.5 $ 15,144.5 $ 14,807.5
Cost of sales:        
Total cost of sales 6,432.6 6,195.5 12,635.2 12,282.2
Gross profit 1,264.1 1,273.0 2,509.3 2,525.3 Close
Selling, general, and administrative expenses 887.5 858.1 1,767.3 1,703.0 Close
Depreciation 38.6 34.1 76.4 68.0 CloseClose
Total Operating Expenses 926.1 892.2 1843.7 1771.0 0 Close
Operating income 338.0 380.8 665.6 754.3 Close
Floor plan interest expense (46.6) (30.8) (91.4) (58.7) Close
Other interest expense (19.9) (24.2) (41.2) (45.0) Close
Total Other Income Expenses -12.5 19.5 -45.3 52.9 0 Close
Equity in earnings of affiliates 54.0 74.5 87.3 156.6 CloseClose
Income before income taxes 325.5 400.3 620.3 807.2 Close
Income taxes (82.6) (97.7) (161.2) (205.0) Close
Net income 242.9 302.6 459.1 602.2 Close
Less: Income attributable to non-controlling interests 1.7 1.8 2.7 3.1
Net income attributable to Penske Automotive Group common stockholders $ 241.2 $ 300.8 $ 456.4 $ 599.1
Basic earnings per share attributable to Penske Automotive Group common stockholders:        
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 3.61 $ 4.41 $ 6.81 $ 8.72
Shares used in determining basic earnings per share (in shares) 66,878,772 68,175,825 66,969,939 68,689,106
Diluted earnings per share attributable to Penske Automotive Group common stockholders:        
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) $ 3.61 $ 4.41 $ 6.81 $ 8.72
Shares used in determining diluted earnings per share (in shares) 66,895,548 68,190,828 66,986,715 68,704,109
Amounts attributable to Penske Automotive Group common stockholders:        
Net income $ 242.9 $ 302.6 $ 459.1 $ 602.2
Less: Income attributable to non-controlling interests 1.7 1.8 2.7 3.1
Net income attributable to Penske Automotive Group common stockholders $ 241.2 $ 300.8 $ 456.4 $ 599.1
Cash dividends per share (in dollars per share) $ 0.96 $ 0.66 $ 1.83 $ 1.27
Retail automotive dealership        
Revenue:        
Total revenues $ 6,615.4 $ 6,406.0 $ 13,093.4 $ 12,705.8
Cost of sales:        
Total cost of sales 5,540.4 5,320.1 10,961.2 10,557.3
Retail commercial truck dealership        
Revenue:        
Total revenues 892.3 919.2 1,684.1 1,814.8
Cost of sales:        
Total cost of sales 747.8 772.4 1,394.8 1,521.0
Commercial vehicle distribution and other        
Revenue:        
Total revenues 189.0 143.3 367.0 286.9
Cost of sales:        
Total cost of sales $ 144.4 $ 103.0 $ 279.2 $ 203.9