Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

Summary of Revenues and segment income by reportable segment

The following table summarizes revenues; cost of sales; selling, general, and administrative expenses; depreciation; floor plan interest expense; other interest expense; equity in earnings of affiliates; and income before income taxes, which is the measure of segment performance by which management allocates resources to its segments and which we refer to as segment income, for each of our reportable segments. Our company's Chief Operating Decision Maker ("CODM") is our Chief Executive Officer. Our CODM uses segment income to evaluate the profitability of our reportable segments, which helps guide decisions on resource allocation. Segment income is also used to analyze budget versus actual results and actual results versus the comparable prior period. This analysis is utilized in assessing the performance of our reportable segments.


Three Months Ended March 31,
	Retail Automotive		Retail Commercial Truck		Other		Non-Automotive Investments		Total
Revenues
2026	$	6,967.1	$	694.6	$	201.9	$	—	$	7,863.6
2025	6,918.6		823.7		211.5		—		7,953.8
Cost of sales
2026	$	5,842.1	$	566.4	$	155.7	$	—	$	6,564.2
2025	5,782.4		682.7		167.3		—		6,632.4
Selling, general, and administrative expenses:
Personnel expenses
2026	$	483.4	$	63.2	$	20.0	$	—	$	566.6
2025	472.6		65.9		18.8		—		557.3
Advertising expenses
2026	$	29.8	$	0.7	$	0.6	$	—	$	31.1
2025	29.7		0.9		0.3		—		30.9
Rent & related expenses
2026	$	105.3	$	6.8	$	4.4	$	—	$	116.5
2025	99.0		6.6		3.6		—		109.2
Other expenses (1)
2026	$	228.2	$	14.4	$	8.8	$	—	$	251.4
2025	232.6		14.9		6.5		—		254.0
Depreciation
2026	$	38.8	$	4.4	$	1.6	$	—	$	44.8
2025	35.3		3.9		1.4		—		40.6
Floor plan interest expense
2026	$	34.5	$	2.3	$	1.3	$	—	$	38.1
2025	36.0		3.7		2.3		—		42.0
Other interest expense
2026	$	26.5	$	—	$	1.9	$	—	$	28.4
2025	18.0		—		4.5		—		22.5
Equity in earnings of affiliates
2026	$	—	$	—	$	—	$	40.8	$	40.8
2025	0.3		—		—		33.0		33.3


Segment income
2026 (2)	$	238.9	$	36.4	$	7.6	$	40.8	$	323.7
2025 (3)	265.6		45.1		6.8		33.0		350.5
__________________________
(1)Other expenses within SG&A primarily consist of information technology expenses, customer service vehicle loaner expenses, vehicle delivery and preparation expenses, utility expenses, and various other miscellaneous expenses. These expenses are individually not significant to the performance of our segments and are not regularly used by the CODM on a disaggregated basis for purposes of evaluating segment profit or loss.
(2)Retail automotive segment income includes a gain of $60.4 million from the sale of one retail automotive franchise in the U.S.
(3)Retail automotive segment income includes a gain of $52.3 million from the sale of one retail automotive franchise in the U.S.

Total capital expenditures by reportable segment are set forth in the table below. As segment assets are not regularly provided to or used by the CODM to measure business performance or allocate resources, total segment assets are not presented.


Three Months Ended March 31,
	Retail Automotive		Retail Commercial Truck		Other		Non-Automotive Investments		Total
Capital expenditures
2026	$	52.8	$	8.2	$	1.6	$	—	$	62.6
2025	66.0		17.8		0.9		—		84.7

PENSKE AUTOMOTIVE GROUP, INC. 10-Q