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Business Combinations (Tables) | 9 Months Ended
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Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Summary of the aggregate consideration paid and the aggregate amounts of the assets acquired and liabilities assumed | The following table summarizes the aggregate consideration paid and the aggregate amounts of the assets acquired and liabilities assumed for the nine months ended September 30, 2024 and 2023:
| Nine Months Ended September 30,
| 2024 |  | 2023
Accounts receivable | $ | 34.1 |  |  | $ | — |
Inventories | 217.9 |  |  | 33.8 |
Other current assets | 0.2 |  |  | 0.2 |
Property and equipment | 63.5 |  |  | 38.4 |
Indefinite-lived intangibles | 402.2 |  |  | 141.4 |
Other noncurrent assets | — |  |  | — |
Current liabilities | (59.9) |  |  | (2.5) |
Noncurrent liabilities | (20.6) |  |  | — |
Total cash used in acquisitions | $ | 637.4 |  |  | $ | 211.3 |
Summary of unaudited consolidated pro forma results of operations | The pro forma information is not necessarily indicative of the results that would have been achieved had the transactions occurred on the first day of each of the periods presented or that may be achieved in the future:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenues | $ | 7,615.8 |  |  | $ | 7,961.7 |  |  | $ | 23,240.7 |  |  | $ | 23,903.5 |
Net income attributable to Penske Automotive Group common stockholders | 226.6 |  |  | 272.2 |  |  | 692.8 |  |  | 892.7 |
Net income per diluted common share | $ | 3.39 |  |  | $ | 4.05 |  |  | $ | 10.35 |  |  | $ | 13.09 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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