XML 68 R46.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Income Taxes |
Schedule of adjustments to provisional estimates recorded to current tax expense or deferred tax expense, as applicable |
(In millions) |  |
Federal and State Changes Due to Repatriation |  | $ | 12.5
Other Adjustments |  |  | (0.9)
Total SAB 118 Benefit |  | $ | 11.6
Schedule of income from continuing operations before income taxes by geographic region |
|  | Year Ended December 31, |
|  | 2018 |  | 2017 |  | 2016 |
U.S. |  | $ | 390.3 |  | $ | 375.4 |  | $ | 316.7 |
Non-U.S. |  |  | 213.8 |  |  | 172.8 |  |  | 191.4 |
Income from continuing operations before income taxes |  | $ | 604.1 |  | $ | 548.2 |  | $ | 508.1 |
Schedule of income taxes relating to income from continuing operations |
|  | Year Ended December 31, |
|  | 2018 |  | 2017 |  | 2016 |
Current: |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (15.6) |  | $ | (3.5) |  | $ | (47.2) |
State and local |  |  | (2.9) |  |  | 4.2 |  |  | 4.7 |
Foreign |  |  | 46.9 |  |  | 43.2 |  |  | 41.0 |
Total current |  | $ | 28.4 |  | $ | 43.9 |  | $ | (1.5) |
Deferred: |  |  |  |  |  |  |  |  |  |
Federal |  |  | 85.9 |  |  | (150.5) |  |  | 140.6 |
State and local |  |  | 20.0 |  |  | 47.2 |  |  | 22.3 |
Foreign |  |  | — |  |  | (5.4) |  |  | (0.7) |
Total deferred |  | $ | 105.9 |  | $ | (108.7) |  | $ | 162.2 |
Income taxes |  | $ | 134.3 |  | $ | (64.8) |  | $ | 160.7 |
Schedule of reconciliation of income taxes from continuing operations at federal statutory rate |
|  | Year Ended December 31, |
|  | 2018 |  | 2017 |  | 2016 |
Income taxes at federal statutory rate |  | $ | 126.9 |  | $ | 191.9 |  | $ | 177.8 |
State and local income taxes, net of federal taxes |  |  | 13.8 |  |  | 13.7 |  |  | 14.7 |
Non-U.S. income taxed at other rates |  |  | 1.9 |  |  | (25.2) |  |  | (26.8) |
Revaluation of U.S. deferreds |  |  | — |  |  | (301.6) |  |  | — |
Deemed mandatory repatriation |  |  | — |  |  | 54.8 |  |  | — |
SAB 118 benefit |  |  | (11.6) |  |  | — |  |  | — |
Other |  |  | 3.3 |  |  | 1.6 |  |  | (5.0) |
Income taxes |  | $ | 134.3 |  | $ | (64.8) |  | $ | 160.7 |
Schedule of components of deferred tax assets and liabilities |
|  | December 31, |
|  | 2018 |  | 2017 |
Deferred Tax Assets |  |  |  |  |  |  |
Accrued liabilities |  | $ | 48.7 |  | $ | 53.6 |
Net operating loss and credit carryforwards |  |  | 81.4 |  |  | 131.0 |
Other |  |  | 27.9 |  |  | 24.0 |
Total deferred tax assets |  |  | 158.0 |  |  | 208.6 |
Valuation allowance |  |  | (40.5) |  |  | (36.6) |
Net deferred tax assets |  | $ | 117.5 |  | $ | 172.0 |
Deferred Tax Liabilities |  |  |  |  |  |  |
Depreciation and amortization |  |  | (188.0) |  |  | (178.1) |
Partnership investments |  |  | (499.3) |  |  | (469.5) |
Convertible notes |  |  | — |  |  | (1.5) |
Other |  |  | (8.0) |  |  | (4.4) |
Total deferred tax liabilities |  |  | (695.3) |  |  | (653.5) |
Net deferred tax liabilities |  | $ | (577.8) |  | $ | (481.5) |
Schedule of movement in uncertain tax positions |
|  | Year Ended December 31, |
|  | 2018 |  | 2017 |  | 2016 |
Uncertain tax positions — January 1 |  | $ | 3.5 |  | $ | 3.4 |  | $ | 12.8 |
Gross increase — tax position in prior periods |  |  | — |  |  | 0.2 |  |  | 0.2 |
Gross decrease — tax position in prior periods |  |  | (3.4) |  |  | (0.1) |  |  | (0.3) |
Gross increase — current period tax position |  |  | — |  |  | — |  |  | — |
Settlements |  |  | — |  |  | — |  |  | (7.8) |
Lapse in statute of limitations |  |  | — |  |  | — |  |  | — |
Foreign exchange |  |  | — |  |  | — |  |  | (1.5) |
Uncertain tax positions — December 31 |  | $ | 0.1 |  | $ | 3.5 |  | $ | 3.4 |

X
- Definition Tabular disclosure of adjustments to provisional estimates recorded to current tax expense or deferred expense, as applicable, related to the enactment of the Tax Cuts and Jobs Act of 2017. + References No definition available. + Details
Name: | pag_ScheduleOfAdjustmentsToProvisionalEstimatesEffectOfTaxCutsAndJobsActOf2017TableTextBlock
Namespace Prefix: | pag_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration