XML 56 R43.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Long-Term Debt (Details) £ in Millions, AUD in Millions, $ in Millions |  | 1 Months Ended |  |  |  |
--- | --- | --- | --- | --- | --- | ---
May. 01, 2015 USD ($) | Mar. 31, 2016 GBP (£) | Apr. 30, 2015 GBP (£) | Nov. 30, 2014 USD ($) | Aug. 31, 2012 USD ($) | Mar. 31, 2016 AUD | Mar. 31, 2016 USD ($) | Feb. 29, 2016 AUD | Feb. 29, 2016 USD ($) | Dec. 31, 2015 USD ($) | Mar. 31, 2015 GBP (£)
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Total long-term debt |  |  |  |  |  |  | $ 1,384.6 |  |  | $ 1,275.0 |
Less: current portion |  |  |  |  |  |  | (54.5) |  |  | (28.0) |
Net long-term debt |  |  |  |  |  |  | 1,330.1 |  |  | 1,247.0 |
US Credit Agreement Revolving Credit Line |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Total long-term debt |  |  |  |  |  |  | 237.0 |  |  | 160.0 |
Initial borrowing capacity | $ 450.0 |  |  |  |  |  |  |  |  |  |
Maximum credit available | 700.0 |  |  |  |  |  |  |  |  |  |
Balance outstanding under credit agreement |  |  |  |  |  |  | 237.0 |  |  |  |
Revolving loans solely for future U.S. acquisitions | $ 250.0 |  |  |  |  |  |  |  |  |  |
US Credit Agreement Revolving Credit Line | LIBOR portion |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Base rate of interest on loans | LIBOR |  |  |  |  |  |  |  |  |  |
Line of credit basis spread on variable rate (as a percent) | 2.00% |  |  |  |  |  |  |  |  |  |
Incremental interest rate for uncollateralized borrowings in excess of maximum limit (as a percent) | 1.50% |  |  |  |  |  |  |  |  |  |
UK Credit Agreement Revolving Credit Line |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Total long-term debt |  |  |  |  |  |  | 53.1 |  |  | 70.7 |
Maximum credit available | £ |  |  | £ 150.0 |  |  |  |  |  |  |  | £ 100.0
UK Credit Agreement Revolving Credit Line | LIBOR portion |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Base rate of interest on loans |  |  | LIBOR |  |  |  |  |  |  |  |
UK Credit Agreement Revolving Credit Line | Minimum | LIBOR portion |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Line of credit basis spread on variable rate (as a percent) |  |  | 1.35% |  |  |  |  |  |  |  |
UK Credit Agreement Revolving Credit Line | Maximum | LIBOR portion |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Line of credit basis spread on variable rate (as a percent) |  |  | 3.00% |  |  |  |  |  |  |  |
UK Credit Agreement Overdraft Line of Credit |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Total long-term debt |  |  |  |  |  |  | 1.4 |  |  |  |
UK Credit Agreement Overdraft Line of Credit | Bank of England Base Rate |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Base rate of interest on loans |  |  | Bank of England Base Rate |  |  |  |  |  |  |  |
Line of credit basis spread on variable rate (as a percent) |  |  | 1.75% |  |  |  |  |  |  |  |
U.K. Credit Agreement Revolving Credit Line and Overdraft Line Of Credit |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Balance outstanding under credit agreement |  | £ 38.0 |  |  |  |  | 54.5 |  |  |  |
5.375% Senior Subordinated Notes Due 2024 |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Total long-term debt |  |  |  |  |  |  | $ 296.5 |  |  | $ 296.4 |
Interest rate (as a percent) |  | 5.375% |  | 5.375% |  | 5.375% | 5.375% |  |  | 5.375% |
Debt issued |  |  |  | $ 300.0 |  |  |  |  |  |  |
Domestic Subsidiaries ownership guaranteeing obligations (as a percent) |  | 100.00% |  |  |  | 100.00% | 100.00% |  |  |  |
Change of control, redemption price as a percentage of principal |  |  |  | 101.00% |  |  |  |  |  |  |
Sale of assets, redemption price as percentage of principal |  |  |  | 100.00% |  |  |  |  |  |  |
5.375% Senior Subordinated Notes Due 2024 | Maximum | Debt Redemption Prior To December 1, 2017 |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Specified equity offerings, percentage of debt which may be redeemed |  |  |  | 40.00% |  |  |  |  |  |  |
5.75% senior subordinated notes due 2022 |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Total long-term debt |  |  |  |  |  |  | $ 544.5 |  |  | $ 544.3 |
Interest rate (as a percent) |  | 5.75% |  |  | 5.75% | 5.75% | 5.75% |  |  | 5.75% |
Debt issued |  |  |  |  | $ 550.0 |  |  |  |  |  |
Domestic Subsidiaries ownership guaranteeing obligations (as a percent) |  | 100.00% |  |  |  | 100.00% | 100.00% |  |  |  |
Change of control, redemption price as a percentage of principal |  |  |  |  | 101.00% |  |  |  |  |  |
Sale of assets, redemption price as percentage of principal |  |  |  |  | 100.00% |  |  |  |  |  |
Australia Working Capital Loan Agreement |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Total long-term debt |  |  |  |  |  |  | $ 29.5 |  |  | $ 5.5 |
Maximum credit available |  |  |  |  |  | AUD 44.3 | 33.9 | AUD 28.0 | $ 21.4 |  |
Balance outstanding under credit agreement |  |  |  |  |  | AUD 38.5 | 29.5 |  |  |  |
Australia Working Capital Loan Agreement | Australian BBSW 30-Day Bill Rate |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Base rate of interest on loans |  | 30-day Bill Rate |  |  |  |  |  |  |  |  |
Line of credit basis spread on variable rate (as a percent) |  | 2.35% |  |  |  |  |  |  |  |  |
Mortgage facilities |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Total long-term debt |  |  |  |  |  |  | 187.0 |  |  | 165.8 |
Balance outstanding under credit agreement |  |  |  |  |  |  | 187.0 |  |  |  |
Other Debt Securities |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |
Total long-term debt |  |  |  |  |  |  | $ 35.6 |  |  | $ 32.3 |

X
- Definition Represents the amount of debt reserved for future U.S. acquisitions. + References No definition available. + Details
Name: | pag_DebtInstrumentReservedForFutureDomesticAcquisitions
Namespace Prefix: | pag_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Line of credit facility additional interest rate. + References No definition available. + Details
Name: | pag_LineOfCreditFacilityAdditionalInterestRate
Namespace Prefix: | pag_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represent the initial maximum borrowing capacity under the credit facility. + References No definition available. + Details
Name: | pag_LineOfCreditFacilityInitialMaximumBorrowingCapacity
Namespace Prefix: | pag_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Represents the redemption price as a percentage of the principal amount at which the debt instrument may be required to be redeemed in the event of a change of control. + References No definition available. + Details
Name: | pag_LongTermDebtRedemptionPriceDueToChangeOfControlAsPercentageOfPrincipalAmount
Namespace Prefix: | pag_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the redemption price as a percentage of the principal amount at which the debt instrument may be required to be repurchased in the event of certain asset sales. + References No definition available. + Details
Name: | pag_LongTermDebtRedemptionPriceDueToSalesOfCertainAssetsAsPercentageOfPrincipalAmount
Namespace Prefix: | pag_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the percentage of the aggregate principal amount of debt instruments that may be redeemed with net proceeds of certain equity offerings. + References No definition available. + Details
Name: | pag_LongTermDebtRedemptionWithNetProceedsFromEquityOfferingsAsPercentageOfPrincipalAmount
Namespace Prefix: | pag_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the ownership percentage of domestic subsidiaries guaranteeing debt of the Company. + References No definition available. + Details
Name: | pag_PercentageOfOwnershipOfDomesticSubsidiariesGuaranteeingDebt
Namespace Prefix: | pag_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentDescriptionOfVariableRateBasis
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 + Details
Name: | us-gaap_LineOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 22 -Article 5 + Details
Name: | us-gaap_LongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- References No definition available. + Details
Name: | us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebtCurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebtNoncurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=pag_UsCreditAgreementRevolvingCreditLineMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=pag_UkCreditAgreementRevolvingCreditLineMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=pag_UkCreditAgreementOverdraftLineOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=pag_BankOfEnglandBaseRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=pag_UkCreditAgreementRevolvingCreditLineAndOverdraftLineOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=pag_SeniorSubordinatedNotes5.375PercentDue2024Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentRedemptionPeriodAxis=pag_DebtInstrumentRedemptionPeriodPriorToDecember2017Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=pag_SeniorSubordinatedNotes5.75PercentDue2022Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=pag_AustraliaWorkingCapitalLoanAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=pag_AustralianBBSW30DayBillRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_MortgagesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_OtherDebtSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |