Penske Automotive Group, Inc. (PAG) Financial Statements (2023 and Earlier)

Company Profile

Business Address 2555 TELEGRAPH RD
BLOOMFIELD HILLS, MI 48302-0954
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 55 - Automotive Dealers And Gasoline Service Stations (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments101502839462462
Cash and cash equivalents101502839462462
Receivables734807960929955879782
Inventory, net of allowances, customer advances and progress billings3,1293,4264,2614,0403,9443,4083,464
Inventory3,1293,4264,2614,0403,9443,4083,464
Disposal group, including discontinued operation     813
Other current assets11212785878210287
Total current assets:4,0754,4095,3345,0955,0274,4224,408
Noncurrent Assets
Operating lease, right-of-use asset2,4512,4172,361
Property, plant and equipment2,4422,4042,3662,2502,1091,8071,520
Long-term investments and receivables1,6881,5001,3991,3051,257893336
Long-term investments1,6881,5001,3991,3051,257893336
Intangible assets, net (including goodwill)2,7662,4922,4632,2382,1351,7111,731
Goodwill2,1241,9281,9111,7521,6611,2911,323
Intangible assets, net (excluding goodwill)642563552486474420408
Other noncurrent assets42252016142827
Total noncurrent assets:9,3898,8388,6095,8095,5144,4403,615
TOTAL ASSETS:13,46513,24713,94310,90510,5418,8618,023
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,6371,4431,3411,1651,165857872
Accounts payable767675639598642497494
Accrued liabilities870767702567524360378
Deferred revenue297263263
Debt828819492734829
Disposal group, including discontinued operation1111166
Contract with customer, liability270
Other undisclosed current liabilities2,2582,8813,6533,5213,7623,3183,380
Total current liabilities:4,2754,6755,4515,0485,0004,2304,287
Noncurrent Liabilities
Long-term debt and lease obligation3,7663,9524,5582,1252,0901,8291,255
Long-term debt, excluding current maturities1,3921,6022,2572,1252,0901,8291,255
Operating lease, liability2,3742,3502,301
Liabilities, other than long-term debt1,3291,2941,1221,0971,0221,023646
Deferred tax liabilities, net578482593433
Deferred income tax liabilities1,060873678
Other liabilities269421444519540431212
Total noncurrent liabilities:5,0955,2465,6803,2223,1122,8521,901
Total liabilities:9,3709,92111,1318,2708,1137,0826,188
Stockholders' equity
Stockholders' equity attributable to parent4,0703,3032,7932,6092,3951,7511,790
Additional paid in capital42312320478532497656
Accumulated other comprehensive loss(169)(161)(203)(235)(147)(251)(123)
Retained earnings4,1973,1512,6762,3662,0091,5051,257
Stockholders' equity attributable to noncontrolling interest25241826332945
Total stockholders' equity:4,0953,3262,8122,6352,4281,7801,835
TOTAL LIABILITIES AND EQUITY:13,46513,24713,94310,90510,5418,8618,023

Income Statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues25,55520,44423,17922,78521,38720,11919,285
Revenue, net21,38720,11919,285
Cost of revenue
(Cost of Goods and Services Sold)
(21,114)(17,259)(19,724)(19,370)(18,164)(17,152)(16,417)
Gross profit:4,4413,1853,4563,4153,2232,9672,868
Operating expenses(2,963)(2,365)(2,693)(2,646)(2,516)(2,302)(2,223)
Other undisclosed operating loss(122)(116)(110)(104)(95)(90)(78)
Operating income:1,356705653665611575567
Nonoperating expense
(Investment Income, Nonoperating)
(11)      
Income from continuing operations before equity method investments, income taxes:1,345705653665611575567
Income from equity method investments3751691481351087039
Other undisclosed loss from continuing operations before income taxes(112)(166)(209)(196)(171)(136)(114)
Income from continuing operations before income taxes:1,608708592604548508492
Income tax expense (benefit)(416)(163)(157)(134)65(161)(158)
Income from continuing operations:1,191545435470613347334
Loss from discontinued operations      (4)
Income before gain (loss) on sale of properties:1,191545435470613347330
Other undisclosed net income (loss)1001(0)(1) 
Net income:1,193545435470613346330
Net income (loss) attributable to noncontrolling interest(5)(2)111(4)(4)
Net income available to common stockholders, diluted:1,188544436471613343326

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:1,193545435470613346330
Other comprehensive income (loss)(9)4331(90)107(129)(70)
Comprehensive income:1,184588467381720217260
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(4)(2)12(3)(3)(3)
Comprehensive income, net of tax, attributable to parent:1,180586468383718215257

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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