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SEC Filings

10-K
PENSKE AUTOMOTIVE GROUP, INC. filed this Form 10-K on 02/24/2017
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PENSKE AUTOMOTIVE GROUP, INC.

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

 

(In millions, except share and per share amounts)

 

The following table reconciles total adjusted segment income to consolidated income from continuing operations before income taxes:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

    

2016

    

2015

    

2014

 

Adjusted segment income

 

$

508.1

 

$

491.9

 

$

441.9

 

Gain on investment

 

 

 —

 

 

 —

 

 

16.0

 

Income from continuing operations before income taxes

 

$

508.1

 

$

491.9

 

$

457.9

 

 

 

Total assets, equity method investments, and capital expenditures by reporting segment are as set forth in the table below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

 

 

 

 

 

 

 

 

    

Retail

 

Retail Commercial

    

 

    

Non-Automotive

    

Intersegment

    

 

 

 

 

Automotive

 

Truck

 

Other

 

Investments

 

Elimination

 

Total

 

Total assets (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

$

7,039.6

 

$

489.1

 

$

497.6

 

$

834.8

 

$

 —

 

$

8,861.1

 

2015

 

 

6,682.1

 

 

525.5

 

 

507.7

 

 

298.1

 

 

 —

 

 

8,013.4

 

Equity method investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

$

58.6

 

$

 —

 

$

 —

 

$

834.8

 

$

 —

 

$

893.4

 

2015

 

 

38.3

 

 

 —

 

 

 —

 

 

298.1

 

 

 —

 

 

336.4

 

Capital expenditures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

$

195.6

 

$

3.3

 

$

4.2

 

$

 —

 

$

 —

 

$

203.1

 

2015

 

 

187.7

 

 

4.5

 

 

7.3

 

 

 —

 

 

 —

 

 

199.5

 

2014

 

 

170.8

 

 

0.4

 

 

4.9

 

 

 —

 

 

 —

 

 

176.1

 

 

                                                 

(1)As discussed in Note 4, we treated the operations of our car rental business as discontinued operations. The associated assets have been reclassified to “Assets held for sale” as of December 31, 2015 on the Consolidated Balance Sheets and therefore are still included within the Other segment in total assets above.

 

 

The following table presents certain data by geographic area:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

    

2016

    

2015

    

2014

 

Revenue from external customers:

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

12,005.9

 

$

11,806.9

 

$

10,435.9

 

Non-U.S.

 

 

8,112.6

 

 

7,478.0

 

 

6,796.1

 

Total revenue from external customers

 

$

20,118.5

 

$

19,284.9

 

$

17,232.0

 

Long-lived assets, net:

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

1,847.3

 

$

1,248.7

 

 

 

 

Non-U.S.

 

 

880.9

 

 

627.0

 

 

 

 

Total long-lived assets

 

$

2,728.2

 

$

1,875.7

 

 

 

 

 

 

The Company’s non-U.S. operations are predominantly based in the U.K.

 

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