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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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Table of Contents

 

PENSKE AUTOMOTIVE GROUP, INC.

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

 

(In millions, except share and per share amounts)

 

The following tables present our revenue from external customers by product type for our Retail Automotive and Retail Commercial Truck segments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

Retail Automotive Dealership Revenue

    

2016

    

2015

    

2014

  

New vehicle

 

$

9,547.1

 

$

9,208.9

 

$

8,698.8

 

Used vehicle

 

 

5,663.7

 

 

5,425.5

 

 

4,971.1

 

Finance and insurance, net

 

 

495.0

 

 

478.3

 

 

436.0

 

Service and parts

 

 

1,948.6

 

 

1,830.7

 

 

1,716.9

 

Fleet and wholesale

 

 

1,018.8

 

 

952.9

 

 

834.7

 

Total retail automotive dealership revenue

 

$

18,673.2

 

$

17,896.3

 

$

16,657.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

Retail Commercial Truck Dealership Revenue

    

2016

    

2015

    

2014 (1)

  

New truck

 

$

625.5

 

$

572.5

 

$

78.7

 

Used truck

 

 

51.8

 

 

58.7

 

 

9.5

 

Finance and insurance, net

 

 

7.3

 

 

6.7

 

 

0.9

 

Service and parts

 

 

306.0

 

 

286.0

 

 

33.9

 

Lease, rental and wholesale

 

 

10.1

 

 

20.2

 

 

2.6

 

Total retail commercial truck dealership revenue

 

$

1,000.7

 

$

944.1

 

$

125.6

 

                                                 

(1)

As we acquired a controlling interest in Premier Truck Group in November 2014, information for the year ended December 31, 2014 represents revenues since our date of acquisition in November 2014.

 

 

18. Summary of Quarterly Financial Data (Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

First

    

Second

    

Third

    

Fourth

 

 

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

2016 (1)(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

 

$

4,824.6

 

$

5,254.1

 

$

5,152.0

 

$

4,887.8

 

Gross profit

 

 

723.8

 

 

771.3

 

 

744.2

 

 

727.3

 

Net income

 

 

80.2

 

 

95.0

 

 

88.5

 

 

82.7

 

Net income attributable to Penske Automotive Group common stockholders

 

 

79.3

 

 

93.5

 

 

87.5

 

 

82.6

 

Diluted earnings per share attributable to Penske Automotive Group common stockholders

 

$

0.90

 

$

1.10

 

$

1.03

 

$

0.97

 

2015 (1)(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

 

$

4,482.9

 

$

4,920.6

 

$

4,960.1

 

$

4,921.3

 

Gross profit

 

 

689.9

 

 

731.3

 

 

729.2

 

 

717.1

 

Net income

 

 

75.9

 

 

95.7

 

 

87.5

 

 

71.3

 

Net income attributable to Penske Automotive Group common stockholders

 

 

75.2

 

 

94.0

 

 

86.6

 

 

70.3

 

Diluted earnings per share attributable to Penske Automotive Group common stockholders

 

$

0.83

 

$

1.04

 

$

0.96

 

$

0.78

 

 

                                                 

(1)

As discussed in Note 4, we have treated the operations of certain entities as discontinued operations. The results for all periods have been restated to reflect such treatment.

(2)

Per share amounts are calculated independently for each of the quarters presented. The sum of the quarters may not equal the full year per share amounts due to rounding.

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