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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 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 years ended December 31, 2024 and 2023:
| Year Ended December 31,
| 2024 |  | 2023
Accounts receivable | $ | 32.3 |  |  | $ | — |
Inventories | 256.5 |  |  | 34.2 |
Other current assets | 0.3 |  |  | 0.2 |
Property and equipment | 125.4 |  |  | 38.7 |
Operating lease right-of-use assets | 66.1 |  |  | — |
Indefinite-lived intangibles | 460.0 |  |  | 145.2 |
Other noncurrent assets | — |  |  | — |
Current liabilities | (67.2) |  |  | (3.4) |
Long-term operating lease liabilities | (66.1) |  |  | — |
Other noncurrent liabilities | (21.1) |  |  | — |
Total cash used in acquisitions | $ | 786.2 |  |  | $ | 214.9 |
Summary of unaudited consolidated pro forma results of operations | Our following unaudited consolidated pro forma results of operations for the years ended December 31, 2024 and 2023 give effect to acquisitions consummated during 2024 and 2023 as if they had occurred on January 1, 2023. This pro forma information is based on historical results of operations, adjusted for the income statement effects of incremental interest expense directly resulting from the acquisitions and the related tax effects. 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:
| Year Ended December 31,
| 2024 |  | 2023
Revenues | $ | 31,087.2 |  |  | $ | 31,790.3 |
Net income attributable to Penske Automotive Group common stockholders | 928.2 |  |  | 1,091.1 |
Net income per diluted common share | $ | 13.88 |  |  | $ | 16.05 |

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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 the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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