XML 19 R50.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidating Financial Information (Details 2) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Dec. 31, 2013
Condensed consolidating statement of income      
Revenues $ 4,048.0 $ 3,349.3 $ 14,700.0
Cost of sales 3,424.0 2,822.7  
Gross profit 624.0 526.6  
Selling, general and administrative expenses 487.8 407.1  
Depreciation 16.5 14.3  
Operating income 119.7 105.2  
Floor plan interest expense (11.1) (10.1)  
Other interest expense (13.1) (11.5)  
Equity in earnings of affiliates 5.1 2.3  
Income from continuing operations before income taxes 100.6 85.9  
Income taxes (34.1) (28.3)  
Income from continuing operations 66.5 57.6  
(Loss) income from discontinued operations, net of tax 1.4 0.4  
Net income 67.9 58.0  
Other Comprehensive Income (Loss), Net of Taxes 6.2 (37.1)  
Comprehensive Income 74.1 20.9  
Less: Comprehensive income attributable to the non-controlling interests 0.2 0.9  
Comprehensive income attributable to Penske Automotive Group common stockholders 73.9 20.0  
Eliminations
     
Condensed consolidating statement of income      
Equity in earnings of subsidiaries (111.6) (97.9)  
Income from continuing operations before income taxes (111.6) (97.9)  
Income taxes 37.9 32.2  
Income from continuing operations (73.7) (65.7)  
(Loss) income from discontinued operations, net of tax (1.4) (0.4)  
Net income (75.1) (66.1)  
Other Comprehensive Income (Loss), Net of Taxes (6.8) 36.8  
Comprehensive Income (81.9) (29.3)  
Less: Comprehensive income attributable to the non-controlling interests 0.2 (0.5)  
Comprehensive income attributable to Penske Automotive Group common stockholders (82.1) (28.8)  
Reportable legal entities | Penske Automotive Group
     
Condensed consolidating statement of income      
Selling, general and administrative expenses 5.8 5.2  
Depreciation 0.3 0.4  
Operating income (6.1) (5.6)  
Floor plan interest expense (2.4) (2.3)  
Other interest expense (7.1) (6.3)  
Equity in earnings of affiliates 4.2 1.9  
Equity in earnings of subsidiaries 111.6 97.9  
Income from continuing operations before income taxes 100.2 85.6  
Income taxes (34.1) (28.3)  
Income from continuing operations 66.1 57.3  
(Loss) income from discontinued operations, net of tax 1.4 0.4  
Net income 67.5 57.7  
Other Comprehensive Income (Loss), Net of Taxes 6.2 (37.1)  
Comprehensive Income 73.7 20.6  
Less: Comprehensive income attributable to the non-controlling interests (0.2) 0.5  
Comprehensive income attributable to Penske Automotive Group common stockholders 73.9 20.1  
Reportable legal entities | Guarantor Subsidiaries
     
Condensed consolidating statement of income      
Revenues 2,180.5 1,960.9  
Cost of sales 1,825.3 1,636.1  
Gross profit 355.2 324.8  
Selling, general and administrative expenses 286.6 250.0  
Depreciation 9.3 8.0  
Operating income 59.3 66.8  
Floor plan interest expense (5.0) (4.7)  
Other interest expense (1.2) (1.1)  
Income from continuing operations before income taxes 53.1 61.0  
Income taxes (23.9) (23.8)  
Income from continuing operations 29.2 37.2  
(Loss) income from discontinued operations, net of tax 7.0 0.8  
Net income 36.2 38.0  
Other Comprehensive Income (Loss), Net of Taxes (2.4) 1.0  
Comprehensive Income 33.8 39.0  
Comprehensive income attributable to Penske Automotive Group common stockholders 33.8 39.0  
Reportable legal entities | Non-Guarantor Subsidiaries
     
Condensed consolidating statement of income      
Revenues 1,867.5 1,388.4  
Cost of sales 1,598.7 1,186.6  
Gross profit 268.8 201.8  
Selling, general and administrative expenses 195.4 151.9  
Depreciation 6.9 5.9  
Operating income 66.5 44.0  
Floor plan interest expense (3.7) (3.1)  
Other interest expense (4.8) (4.1)  
Equity in earnings of affiliates 0.9 0.4  
Income from continuing operations before income taxes 58.9 37.2  
Income taxes (14.0) (8.4)  
Income from continuing operations 44.9 28.8  
(Loss) income from discontinued operations, net of tax (5.6) (0.4)  
Net income 39.3 28.4  
Other Comprehensive Income (Loss), Net of Taxes 9.2 (37.8)  
Comprehensive Income 48.5 (9.4)  
Less: Comprehensive income attributable to the non-controlling interests 0.2 0.9  
Comprehensive income attributable to Penske Automotive Group common stockholders $ 48.3 $ (10.3)