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Condensed Consolidating Financial Information - Cash Flows (Details) - USD ($) $ in Millions | 9 Months Ended
--- | ---
Sep. 30, 2018 | Sep. 30, 2017
Condensed consolidating statement of cash flows |  |
Net cash provided by (used in) continuing operating activities | $ 535.9 | $ 466.8
Investing activities: |  |
Purchase of equipment and improvements | (188.5) | (180.1)
Proceeds from sale of dealerships | 58.4 | 9.0
Proceeds from sale-leaseback transactions | 10.7 |
Acquisition of additional ownership interest in Penske Truck Leasing |  | (239.1)
Acquisitions, net | (168.6) | (449.7)
Other | (3.5) | 4.3
Net cash used in continuing investing activities | (291.5) | (855.6)
Financing activities: |  |
Issuance of 3.75% senior subordinated notes |  | 300.0
Net borrowings (repayments) of long-term debt | (41.0) | 50.3
Net (repayments) borrowings of floor plan notes payable — non-trade | (59.6) | 155.2
Payment of debt issuance costs |  | (4.0)
Repurchases of common stock | (55.8) | (18.5)
Dividends | (89.7) | (80.1)
Other | (6.2) | (5.8)
Net cash (used in) provided by continuing financing activities | (252.3) | 397.1
Net cash provided by discontinued operations | 0.3 | 2.7
Effect of exchange rate changes on cash and cash equivalents | (0.5) | 2.2
Net change in cash and cash equivalents | (8.1) | 13.2
Cash and cash equivalents, beginning of period | 45.7 | 24.0
Cash and cash equivalents, end of period | 37.6 | 37.2
Penske Automotive Group | Reportable legal entities |  |
Condensed consolidating statement of cash flows |  |
Net cash provided by (used in) continuing operating activities | 16.1 | (34.5)
Investing activities: |  |
Purchase of equipment and improvements | (2.3) | (2.4)
Acquisition of additional ownership interest in Penske Truck Leasing |  | (239.1)
Other | (2.4) | 4.6
Net cash used in continuing investing activities | (4.7) | (236.9)
Financing activities: |  |
Issuance of 3.75% senior subordinated notes |  | 300.0
Net borrowings (repayments) of long-term debt | (172.0) | (24.0)
Net (repayments) borrowings of floor plan notes payable — non-trade | (23.3) | 63.7
Payment of debt issuance costs |  | (4.0)
Repurchases of common stock | (55.8) | (18.5)
Dividends | (89.7) | (80.1)
Other | (0.3) | (5.8)
Distributions from (to) parent | 329.7 | 40.1
Net cash (used in) provided by continuing financing activities | (11.4) | 271.4
Net change in cash and cash equivalents | 0.0 |
Cash and cash equivalents, end of period | 0.0 |
Guarantor Subsidiaries | Reportable legal entities |  |
Condensed consolidating statement of cash flows |  |
Net cash provided by (used in) continuing operating activities | 356.2 | 359.5
Investing activities: |  |
Purchase of equipment and improvements | (95.1) | (80.0)
Proceeds from sale of dealerships | 55.9 | 9.0
Acquisitions, net |  | (316.9)
Net cash used in continuing investing activities | (39.2) | (387.9)
Financing activities: |  |
Net borrowings (repayments) of long-term debt | 41.6 | 8.6
Net (repayments) borrowings of floor plan notes payable — non-trade | (50.1) | 43.2
Other | (5.9) |
Distributions from (to) parent | (314.3) | (35.5)
Net cash (used in) provided by continuing financing activities | (328.7) | 16.3
Net cash provided by discontinued operations | 0.3 | 2.7
Net change in cash and cash equivalents | (11.4) | (9.4)
Cash and cash equivalents, beginning of period | 14.8 | 9.4
Cash and cash equivalents, end of period | 3.4 |
Non-Guarantor Subsidiaries | Reportable legal entities |  |
Condensed consolidating statement of cash flows |  |
Net cash provided by (used in) continuing operating activities | 163.6 | 141.8
Investing activities: |  |
Purchase of equipment and improvements | (91.1) | (97.7)
Proceeds from sale of dealerships | 2.5 |
Proceeds from sale-leaseback transactions | 10.7 |
Acquisitions, net | (168.6) | (132.8)
Other | (1.1) | (0.3)
Net cash used in continuing investing activities | (247.6) | (230.8)
Financing activities: |  |
Net borrowings (repayments) of long-term debt | 89.4 | 65.7
Net (repayments) borrowings of floor plan notes payable — non-trade | 13.8 | 48.3
Distributions from (to) parent | (15.4) | (4.6)
Net cash (used in) provided by continuing financing activities | 87.8 | 109.4
Effect of exchange rate changes on cash and cash equivalents | (0.5) | 2.2
Net change in cash and cash equivalents | 3.3 | 22.6
Cash and cash equivalents, beginning of period | 30.9 | 14.6
Cash and cash equivalents, end of period | $ 34.2 | $ 37.2

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