XML 59 R51.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidating Financial Information (Details) - USD ($)
$ in Millions
Jun. 30, 2015
Dec. 31, 2014
Nov. 30, 2014
Jun. 30, 2014
Dec. 31, 2013
Aug. 31, 2012
Condensed consolidating balance sheet            
Cash and cash equivalents $ 36.7 $ 36.3   $ 61.4 $ 50.3  
Accounts receivable, net 738.8 701.4        
Inventories 3,055.4 2,819.2        
Other current assets 107.0 124.7        
Assets held for sale 45.7 186.6        
Total current assets 3,983.6 3,868.2        
Property and equipment, net 1,378.3 1,328.8        
Intangible assets 1,684.0 1,652.0        
Equity method investments 359.0 352.8        
Other long-term assets 29.0 26.4        
Total assets 7,433.9 7,228.2        
Floor plan notes payable 2,004.9 1,812.6        
Floor plan notes payable - non-trade 1,042.8 920.5        
Accounts payable 502.1 417.6        
Accrued expenses 329.3 310.3        
Current portion of long-term debt 31.2 36.6        
Liabilities held for sale 29.9 132.7        
Total current liabilities 3,940.2 3,630.3        
Long-term debt 1,130.8 1,316.0        
Deferred tax liabilities 391.4 409.9        
Other long-term liabilities 192.5 190.8        
Total liabilities 5,654.9 5,547.0        
Total equity 1,779.0 1,681.2        
Total liabilities and equity $ 7,433.9 $ 7,228.2        
5.75% senior subordinated notes due 2022            
Condensed consolidating balance sheet            
Interest rate (as a percent) 5.75% 5.75%       5.75%
Domestic Subsidiaries ownership guaranteeing obligations (as a percent) 100.00%          
5.375% senior subordinated notes due 2024            
Condensed consolidating balance sheet            
Interest rate (as a percent) 5.375% 5.375% 5.375%      
Domestic Subsidiaries ownership guaranteeing obligations (as a percent) 100.00%          
Eliminations            
Condensed consolidating balance sheet            
Accounts receivable, net $ (422.0) $ (409.6)        
Total current assets (422.0) (409.6)        
Other long-term assets (2,125.6) (1,990.8)        
Total assets (2,547.6) (2,400.4)        
Accrued expenses (422.0) (409.6)        
Total current liabilities (422.0) (409.6)        
Long-term debt (270.8) (247.0)        
Total liabilities (692.8) (656.6)        
Total equity (1,854.8) (1,743.8)        
Total liabilities and equity (2,547.6) (2,400.4)        
Reportable legal entities | Penske Automotive Group            
Condensed consolidating balance sheet            
Accounts receivable, net 422.0 409.6        
Other current assets 2.8 4.5        
Total current assets 424.8 414.1        
Property and equipment, net 4.3 4.3        
Equity method investments 294.0 285.5        
Other long-term assets 2,139.0 2,005.0        
Total assets 2,862.1 2,708.9        
Floor plan notes payable - non-trade 150.8 86.8        
Accounts payable 3.3 2.9        
Accrued expenses 1.0          
Total current liabilities 155.1 89.7        
Long-term debt 928.0 938.0        
Total liabilities 1,083.1 1,027.7        
Total equity 1,779.0 1,681.2        
Total liabilities and equity 2,862.1 2,708.9        
Reportable legal entities | Guarantor Subsidiaries            
Condensed consolidating balance sheet            
Cash and cash equivalents         13.1  
Accounts receivable, net 354.3 392.6        
Inventories 1,579.9 1,481.5        
Other current assets 36.5 58.3        
Assets held for sale 11.3 150.9        
Total current assets 1,982.0 2,083.3        
Property and equipment, net 771.8 754.6        
Intangible assets 833.7 817.9        
Other long-term assets 1.1 4.4        
Total assets 3,588.6 3,660.2        
Floor plan notes payable 1,195.1 1,102.0        
Floor plan notes payable - non-trade 343.5 398.1        
Accounts payable 150.1 208.3        
Accrued expenses 148.1 123.3        
Current portion of long-term debt 6.9 4.6        
Liabilities held for sale 7.5 105.9        
Total current liabilities 1,851.2 1,942.2        
Long-term debt 111.6 116.1        
Deferred tax liabilities 366.7 385.6        
Other long-term liabilities 67.9 66.9        
Total liabilities 2,397.4 2,510.8        
Total equity 1,191.2 1,149.4        
Total liabilities and equity 3,588.6 3,660.2        
Reportable legal entities | Non-Guarantor Subsidiaries            
Condensed consolidating balance sheet            
Cash and cash equivalents 36.7 36.3   $ 61.4 $ 37.2  
Accounts receivable, net 384.5 308.8        
Inventories 1,475.5 1,337.7        
Other current assets 67.7 61.9        
Assets held for sale 34.4 35.7        
Total current assets 1,998.8 1,780.4        
Property and equipment, net 602.2 569.9        
Intangible assets 850.3 834.1        
Equity method investments 65.0 67.3        
Other long-term assets 14.5 7.8        
Total assets 3,530.8 3,259.5        
Floor plan notes payable 809.8 710.6        
Floor plan notes payable - non-trade 548.5 435.6        
Accounts payable 348.7 206.4        
Accrued expenses 602.2 596.6        
Current portion of long-term debt 24.3 32.0        
Liabilities held for sale 22.4 26.8        
Total current liabilities 2,355.9 2,008.0        
Long-term debt 362.0 508.9        
Deferred tax liabilities 24.7 24.3        
Other long-term liabilities 124.6 123.9        
Total liabilities 2,867.2 2,665.1        
Total equity 663.6 594.4        
Total liabilities and equity $ 3,530.8 $ 3,259.5