PENSKE AUTOMOTIVE GROUP, INC. Form 10-K Annual Report

Total Page:16

File Type:pdf, Size:1020Kb

PENSKE AUTOMOTIVE GROUP, INC. Form 10-K Annual Report SECURITIES AND EXCHANGE COMMISSION FORM 10-K Annual report pursuant to section 13 and 15(d) Filing Date: 2019-02-22 | Period of Report: 2018-12-31 SEC Accession No. 0001558370-19-000917 (HTML Version on secdatabase.com) FILER PENSKE AUTOMOTIVE GROUP, INC. Mailing Address Business Address 2555 TELEGRAPH RD 2555 TELEGRAPH RD CIK:1019849| IRS No.: 223086739 | State of Incorp.:DE | Fiscal Year End: 1231 BLOOMFIELD HILLS MI BLOOMFIELD HILLS MI Type: 10-K | Act: 34 | File No.: 001-12297 | Film No.: 19625994 48302-0954 48302-0954 SIC: 5500 Auto dealers & gasoline stations 248-648-2500 Copyright © 2019 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10‑K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1‑12297 Penske Automotive Group, Inc. (Exact name of registrant as specified in its charter) Delaware 22‑3086739 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 2555 Telegraph Road Bloomfield Hills, Michigan 48302‑0954 (Address of principal executive offices) (Zip Code) (248) 648‑2500 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered Voting Common Stock, par value $0.0001 per share New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None. Indicate by check mark if the registrant is a well‑known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐ No ☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐ Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S‑K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of the registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10‑K or any amendment to this Form 10‑K. ☒ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer ☒ Accelerated filer ☐ Non‑accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Copyright © 2019 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b‑2 of the Exchange Act). Yes ☐ No ☒ The aggregate market value of the voting common stock held by non‑affiliates as of June 30, 2018 was $1,677,606,861. As of February 15, 2019, there were 84,911,298 shares of voting common stock outstanding. Documents Incorporated by Reference Certain portions, as expressly described in this report, of the registrant’s proxy statement for the 2019 Annual Meeting of the Stockholders to be held May 9, 2019 are incorporated by reference into Part III, Items 10‑14. Copyright © 2019 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents TABLE OF CONTENTS Item Page PART I 1 Business 1 1A. Risk Factors 22 1B. Unresolved Staff Comments 30 2 Properties 30 3 Legal Proceedings 30 4 Mine Safety Disclosures 30 PART II 5 Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 31 6 Selected Financial Data 33 7 Management’s Discussion and Analysis of Financial Condition and Results of Operations 34 7A. Quantitative and Qualitative Disclosures About Market Risk 59 8 Financial Statements and Supplementary Data 59 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 59 9A. Controls and Procedures 60 9B. Other Information 60 PART III 10 Directors, Executive Officers and Corporate Governance 61 11 Executive Compensation 61 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 61 13 Certain Relationships and Related Transactions, and Director Independence 61 14 Principal Accounting Fees and Services 61 PART IV 15 Exhibits, Financial Statement Schedules 61 16 Form 10-K Summary 61 Copyright © 2019 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents PART I Item 1. Business We are a diversified international transportation services company that operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand. We employ nearly 27,000 people worldwide. In 2018, our business generated $22.8 billion in total revenue, which is comprised of approximately $20.8 billion from retail automotive dealerships, $1.4 billion from retail commercial truck dealerships and $0.6 billion from commercial vehicle distribution and other operations. We generated $3.4 billion in gross profit, which is comprised of $3.1 billion from retail automotive dealerships, $211.5 million from retail commercial truck dealerships and $144.8 million from commercial vehicle distribution and other operations. Retail Automotive Dealership. We believe we are the second largest automotive retailer headquartered in the U.S. as measured by the $20.8 billion in total retail automotive dealership revenue we generated in 2018. As of December 31, 2018, we operated 345 retail automotive franchises, of which 154 franchises are located in the U.S. and 191 franchises are located outside of the U.S. The franchises outside the U.S. are located primarily in the U.K. In 2018, we retailed and wholesaled more than 644,000 vehicles. We are diversified geographically, with 55% of our total retail automotive dealership revenues in 2018 generated in the U.S. and Puerto Rico and 45% generated outside the U.S. We offer over 40 vehicle brands, with 70% of our retail automotive dealership revenue in 2018 generated from premium brands, such as Audi, BMW, Land Rover, Mercedes-Benz and Porsche. Each of our dealerships offers a wide selection of new and used vehicles for sale. In addition to selling new and used vehicles, we generate higher-margin revenue at each of our dealerships through maintenance and repair services and the sale and placement of third-party finance and insurance products, third-party extended service and maintenance contracts, and replacement and aftermarket automotive products. We operate our franchised dealerships under franchise agreements with a number of automotive manufacturers and distributors that are subject to certain rights and restrictions typical of the industry. We also operate fourteen stand-alone used vehicle supercenters in the U.S. and the U.K. which retail and wholesale previously owned vehicles under a one price, “no-haggle” methodology. We acquired CarSense in the U.S. and CarShop in the U.K. in the first quarter of 2017 and acquired The Car People in the U.K. in January 2018. Our CarSense operations in the U.S. consist of five locations operating in the Philadelphia and Pittsburgh, Pennsylvania market areas, including southern New Jersey. Our CarShop operations in the U.K. consist of five retail locations and a vehicle preparation center operating principally throughout Southern England. The Car People operations in the U.K. consist of four retail locations operating across Northern England, which complement CarShop’s Southern England locations. CarShop and The Car People currently operate as one reportable segment (“Stand-Alone Used International”) and we anticipate that both will begin to operate under the CarShop name in 2019. During the year ended December 31, 2018, we acquired six retail automotive franchises, were awarded three retail automotive franchises, and disposed of seven retail automotive franchises. Of the retail automotive franchises acquired, four are located in Italy and represent the Mercedes-Benz and smart brands, and two are located in Texas and represent the Lexus brand. Of the franchises disposed of, five represented franchises in the U.S., and two represented franchises in the U.K. Retail automotive dealerships represented 91.5% of our total revenues and 89.6% of our total gross profit in 2018. 1 Copyright © 2019 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents We believe our diversified retail automotive income streams help to mitigate the historical cyclicality found in some elements of the automotive sector.
Recommended publications
  • Fueling Economic Growth
    The Business Case For MINORITY BUSINESS ENTERPRISES Fueling Economic Growth 1 THE FUTURE MAJORITY 120 million strong and increasing by 2.3 million per year, multicultural populations are the growth engine of the future in the U.S. Hispanics, African-Americans, Asian- Americans, and all other multiculturals already make up 38% of the U.S. population, with Census projections showing that multicultural populations will become a numeric majority by 2044. 2 .. TOC Advancing Business Connections That Count Contents Our Goals & Call To Action ....................................................................................... 5 Our Mission ............................................................................................................. 7 NMSDC By The Numbers ......................................................................................... 8 National Corporate Members ....................................................................................14 National Affiliates .................................................................................................... 18 Growth Trends - The Emerging Minority Marketplace ....................................................... 20 Economic Impact ...................................................................................................... 21 Minority Purchasing Power .......................................................................................... 24 U.S. Population Growth ............................................................................................
    [Show full text]
  • Penske Automotive Group, Inc. (Exact Name of Registrant As Specified in Its Charter)
    Section 1: 10-K (10-K) Use these links to rapidly review the document TABLE OF CONTENTS INDEX TO CONSOLIDATED FINANCIAL STATEMENTS PENSKE AUTOMOTIVE GROUP, INC As of December 31, 2013 and 2012 and For the Years Ended December 31, 2013, 2012 and 2011 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2013 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-12297 Penske Automotive Group, Inc. (Exact name of registrant as specified in its charter) Delaware 22-3086739 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 2555 Telegraph Road Bloomfield Hills, Michigan 48302-0954 (Address of principal executive offices) (Zip Code) (248) 648-2500 Registrant's telephone number, including area code Securities registered pursuant to Section 12(b) of the Act: Name of Each Exchange on Which Title of Each Class Registered Voting Common Stock, par value $0.0001 per share New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None. Indicate by check mark if the registrant is a well -known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ý No o Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.
    [Show full text]
  • Integrated Transportation Systems Business Unit
    Integrated Transportation Systems Business Unit July 10th, 2015 Mitsui & Co., Ltd. 1 Contents 1. Overview 2. Mobility 3. Repositioning 4. Business Strategy 5. Keywords for the Future 2 1.Overview COPYRIGHT © MITSUI & CO., LTD. ALL RIGHTS RESERVED. 3 Numbers Tell Our Business Unit Number of Employees Number of Subsidiaries Total Assets & Net Income (Consolidated) (Equity Accounted Investees) 1 1 150 3 companies 10 of total of total COPYRIGHT © MITSUI & CO., LTD. ALL RIGHTS RESERVED. 1. Overview 4 Organization Structure Iron & Steel Products Business Unit COO Mineral & Metal Resources Business Unit Infrastructure Projects Business Unit Deputy COO Integrated Transportation Systems Business Unit COO staffs Basic Chemicals Business Unit Strategic Planning Dept. CEO Performance Chemicals Business Unit Unit Business Americas Business Unit EMEA Business Unit Pacific Asia Human Resources & General Affairs Dept. Innovative Business Evolution Dept. Energy Business Unit I Energy Business Unit II 8 Food Resources Business Unit Business Divisions Food Products & Services Business Unit First Motor Vehicles Div. Ship Business Div. Consumer Service Business Unit IT & Communication Business Unit Second Motor Vehicles Div. Marine Enterprise Div. Corporate Development Business Unit Aerospace Systems & Third Motor Vehicles Div. Rail Leasing Div. Corporate Staff Divisions Construction and Transportation Project Div. 13 business units + 3regional headquarters Industrial Machinery Div. COPYRIGHT © MITSUI & CO., LTD. ALL RIGHTS RESERVED. 1. Overview 5 Business Domains Shipping 5 Construction Sale & purchase of newly- and Industrial Aerospace Business built ships, ship owning, Machinery Domains and finance. Brokering of chartering and sale & Motor Shipping Railway purchase of secondhand Vehicles ships. Sale of marine equipment. Ship management/technical services. Motor Vehicles Aerospace Motor vehicle/motorcycle assembly and production; Aircraft leasing; aircraft parts import and export; engine development freight business for parts, investment, leasing and etc.
    [Show full text]
  • Sales and Operations Management Training Program (Entry Level) Albuquerque, NM
    Sales and Operations Management Training Program (Entry Level) Albuquerque, NM Position Summary Train for your professional sales career in an entrepreneurial environment steeped in a tradition of success. Our TEAM approach engages you in all aspects of our business - sales, operations and maintenance. Learn how we have become the nation's leading transportation company from the ground up - where the rubber really hits the road! In this Developmental role, you will receive 5 weeks of personalized training and be coached by managers and peers who started in the same seat. We will introduce you to our sales processes, leading edge technology and winning company culture through one-on-one, small group and web-based methods. Within your first 6 months you will be invited to our corporate offices in Reading, PA for our capstone event - facilitated by Senior Leadership, many of whom also started in your very seat. For more information or to apply, go to: http://www.glassdoor.com/job-listing/sales-and-operations Every 4 months you will be provided feedback on your development and performance, as providing top notch customer service is a key measure of your role. Upon successful completion of the program and successful performance in role, the opportunity for promotion into a manager position exists and future development in operations and sales will continue. Weekend shift flexibility needed. Description - Develop consumer and commercial customer solutions to local and national accounts - including many of the Fortune 500. - Manage our large
    [Show full text]
  • Greenhouse Gas and Energy Inventory Process
    Greenhouse gas and energy inventory process UPDATED OCTOBER 2020 Methodology The GE Greenhouse Gas (GHG) Inventory follows the World Resources Institute/ World Since 2011, GE has Business Council for Sustainable Development (WRI/WBCSD) Greenhouse Gas Protocol: A reduced operational Corporate Accounting and Reporting Standard, Revised Edition (the “Protocol”). GE utilizes greenhouse gas the Protocol for all definitions, assumptions, and calculations discussed in this document emissions by nearly unless explicitly stated otherwise. 0.62 million metric ton GE reports under the “control” approach for emissions in Scopes 1 and 2, as defined in the CO2-equivalents. Protocol, from sources over which it has operational control. Selected Scope 3 emissions are reported. At a high level, the Protocol defines Scope 1 emissions as direct GHG emissions from sources that are owned or controlled by the company, Scope 2 emissions as emissions from the generation of purchased electricity consumed by the company, and www.ge.com/sustainability Scope 3 emissions as emissions that are a consequence of the activities of the company, but occur from sources not owned or controlled by the company. GE reports this data with the unit of CO2-equivalent which is the universal unit of measurement to indicate global warming potential of greenhouse gases. [email protected] Inventory scope The GHG Inventory includes data from individual facilities (primarily manufacturing facilities), additional rooftops (primarily offices, warehouses, and small service shops), and the vehicle and air fleets that GE operates for its own use. The inventory scope is adjusted annually as a result of divestiture, closure or consolidation with other facilities, acquisitions, newly established facilities, or when facilities meet the reporting criteria for the first time.
    [Show full text]
  • X in Re : : Chapter 11 WESTINGHOUSE ELECTRIC : COMPANY LLC, Et Al., : Case No
    17-10751-mew Doc 4496 Filed 12/02/19 Entered 12/02/19 17:13:04 Main Document Pg 1 of 171 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK --------------------------------------------------------x In re : : Chapter 11 WESTINGHOUSE ELECTRIC : COMPANY LLC, et al., : Case No. 17-10751 (MEW) : Debtors.1 : (Jointly Administered) --------------------------------------------------------x AFFIDAVIT OF SERVICE I, Stanley Y. Martinez, depose and say that I am employed by Kurtzman Carson Consultants LLC (KCC), the claims and noticing agent for the Debtors in the above-captioned case. On November 22, 2019, at my direction and under my supervision, employees of KCC caused to be served the following documents via Electronic Mail upon the service list attached hereto as Exhibit A; via Overnight Mail upon the service list attached hereto as Exhibit B; and via First Class Mail upon the service lists attached hereto as Exhibit C and Exhibit D: Motion of Wind Down Co to Authorize Expedited Distribution of Excess Funds from Segregated Account [Docket No. 4487] (Continued on Next Page) 1 The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification number, if any, are: Westinghouse Electric Company LLC (0933), CE Nuclear Power International, Inc. (8833), Fauske and Associates LLC (8538), Field Services, LLC (2550), Nuclear Technology Solutions LLC (1921), PaR Nuclear Holding Co., Inc. (7944), PaR Nuclear, Inc. (6586), PCI Energy Services LLC (9100), Shaw Global Services, LLC (0436), Shaw Nuclear Services, Inc. (6250), Stone & Webster Asia Inc. (1348), Stone & Webster Construction Inc. (1673), Stone & Webster International Inc. (1586), Stone & Webster Services LLC (5448), Toshiba Nuclear Energy Holdings (UK) Limited (N/A), TSB Nuclear Energy Services Inc.
    [Show full text]
  • Executive Perspective Foundation Building Materials
    EXECUTIVE PERSPECTIVE FOUNDATION BUILDING MATERIALS Leasing Mitigates Operational and Financial Risks As the chief financial officer of Foundation Building Materials, a building material distributor with a network of branches across the country, John Gorey needs to ensure the company is providing high levels of service while also QUICK FIGURES managing costs and mitigating risks. Gorey has turned to Employees: About 1,800 leasing through Penske Truck Leasing to get and keep trucks Revenue: More than $1.05 billion on the road and protect the company’s balance sheet. Branches: 85 Gorey said one of the key benefits of leasing is minimizing Penske Leasing Customer risks, both operationally and financially. Since 2011 Proper Maintenance About Foundation Building According to Gorey, “For delivery situations, your risk if your Materials: With 85 locations in truck isn’t maintained properly is you miss your delivery 16 states, Foundation Building windows.” He added that breakdowns wreak havoc on Materials consists of several on-time deliveries. “We measure on-time deliveries. We distinct state-based partners, think it is important for retention of customers.” with each branch meeting the individual building material needs Meeting delivery windows also allows the company to of its geographical market based reduce the risk of fees associated with a missed delivery. on climate, codes and other local “If a customer has a crew waiting four to five hours, he will variations. The company operates back charge us for his time,” stated Gorey. boom trucks, box trucks, flatbeds Equipment Uptime and pickup trucks in addition to What’s more, ensuring equipment uptime saves staff time, its tractor trailers.
    [Show full text]
  • Hierarchical Profile for General Electric Company
    General Electric Company Snapshot Taken 03/25/2015 Copyright © 2015 LexisNexis, a division of Reed Elsevier Inc. All Rights reserved CorporateAffiliations.com LexisNexis® Corporate Affiliations Page 1 Family Tree General Electric Company(Fairfield, CT) GE Industrial Solutions(Plainville, CT) GE Appliances(Louisville, KY) Advanced Services, Inc.(Memphis, TN) GE Appliances Caribbean & Co.(Carolina, PR) Roper Corporation(La Fayette, GA) GE Intelligent Platforms, Inc.(Charlottesville, VA) GE Intelligent Platforms, Inc. - Huntsville(Huntsville, AL) GE Lighting, LLC(Cleveland, OH) GE Lighting, LLC - Lexington Plant(Lexington, KY) GE Lighting Ltd.(Enfield, United Kingdom) GE Sensing & Inspection Technologies(Billerica, MA) GE Inspection Technologies(Lewistown, PA) GE Sensing(Anasco, PR) GE Thermometrics Saint Marys(Saint Marys, PA) GE Sensing(Houston, TX) GE Inspection Technologies, GmbH(Hurth, Germany) GE Thermometrics Mexico, S.A. de C.V.(Tijuana, Mexico) GE Thermometrics UK(Taunton, United Kingdom) Rheonik Messgerate GmbH(Munich, Germany) GE Sensing Ltd.(Leicester, United Kingdom) GE Sensing(Shannon, Ireland) GE Sensing-Protimeter(Pforzheim, Germany) GE Zenith Controls(Chicago, IL) GE Canada Company(Mississauga, Canada) GE Multilin(Markham, Canada) GE (USA) Controls Pte. Ltd.(Singapore, Singapore) Fuji Electric Fa Taiwan(Taipei, Taiwan) Fuji/GE Private Ltd.(Singapore, Singapore) GE Technology Infrastructure(Wilton, CT) GE Aviation Systems LLC(Cincinnati, OH) GE Engine Services, Inc.(Cincinnati, OH) GE Aviation Materials LP(Grand Prairie,
    [Show full text]
  • 2020 Proxy Statement
    6MAR201422341007 2020 Proxy Statement Annual Meeting of Stockholders The Annual Meeting of Stockholders of Penske Automotive Group, Inc. will be held May 13, 2020 2555 Telegraph Road Bloomfield Hills, Michigan 48302 6MAR201422341007 Dear Fellow Stockholder: At the date of this letter, the Coronavirus continues to impact our daily business. Our focus is to ensure we meet customer needs while doing our part to keep our customers, employees and our communities safe. We have enhanced our cleaning procedures, both for facilities and vehicles, and instructed employees who feel ill to stay home, among other measures. We currently plan to hold the 2020 Annual Meeting open to stockholders as provided in the enclosed proxy. However, we will continue to monitor the current Coronavirus situation closely and will provide notice via a website posting if any changes to the Annual Meeting are necessary. The past year was a remarkable period for our business. Although we faced unprecedented challenges from Brexit, changing vehicle tastes in response to new emissions standards (especially in Europe), industry mobility developments and rapidly-changing technology, the diversification provided by our investments across transportation services drove our business. Overall, I was very pleased with our performance last year. In retail automotive, we celebrated our 20th anniversary since the initial acquisition of the business in 1999. Since then, we have grown Penske Automotive Group organically and through acquisition and 2019 was no exception. Some highlights from the past year include: • Moving up to #136 on the Fortune 500 list • Opening two greenfield used vehicle SuperCenters • The acquisition of Warner Truck Centers, which nearly doubles the size our commercial vehicle business, while making our company the largest Freightliner and Western Star dealer in the United States • Thirty-three of our dealerships were named to the Automotive News Top 100 Dealerships to Work For in the United States.
    [Show full text]
  • Company Update Third Quarter 2017 Financial Results
    Company Update Third Quarter 2017 Financial Results Statements in this presentation may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.’s financial results, liquidity, and future sales. Actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties include, among others: economic conditions generally, conditions in the credit markets and changes in interest rates, adverse conditions affecting a particular manufacturer, including the adverse impact to the vehicle and parts supply chain due to natural disasters, such as the recent hurricanes, or other disruptions that interrupt the supply of vehicles or parts to us, changes in consumer credit availability, the outcome of legal and administrative matters, and other factors over which management has limited control. These forward- looking statements should be evaluated together with additional information about Penske Automotive's business, markets, conditions and other uncertainties, which could affect Penske Automotive's future performance. These risks and uncertainties are addressed in Penske Automotive's Form 10-K for the year ended December 31, 2016, and its other filings with the Securities and Exchange Commission (“SEC”). This presentation speaks only as of its date, and Penske Automotive disclaims any duty to update the information herein. Refer to the company’s latest earnings press release dated October 25, 2017. Company Overview • International transportation services company • Operates automotive and commercial truck dealerships principally in the U.S., Canada and Western Europe • Distributor of commercial vehicles, engines, power systems and related spare parts and services principally in Australia and New Zealand • Operations across four continents and nine countries • #142 on Fortune 500 • World-class brands • Over 26,000 employees Paramus Jaguar Land Rover, Paramus NJ 3 Strategy • Focus on diversification • U.S.
    [Show full text]
  • Ge 2013 Annual Report 1 Letter to Shareowners
    Progress GE Works 20132013 AnnualAnnual ReportReport ON THE COVER: Shana Sands, GE Power & Water, Greenville, South Carolina. Turbine is destined for Djelfa, Algeria. PICTURED: Lyman Jerome, GE Aviation Focusing our best capabilities on what matters most to our investors, employees, customers and the world’s progress. PICTURED, PAGE 1 Back row (left to right): JOHN G. RICE KEITH S. SHERIN SUSAN P. PETERS Vice Chairman, GE Vice Chairman, GE Senior Vice President, and Chairman and Human Resources MARK M. LITTLE Chief Executive Officer, Senior Vice President and JEFFREY S. BORNSTEIN GE Capital Chief Technology Officer Senior Vice President and Front row (left to right): Chief Financial Officer JEFFREY R. IMMELT Chairman of the Board and JAMIE S. MILLER BETH COMSTOCK Chief Executive Officer Senior Vice President and Senior Vice President and Chief Information Officer Chief Marketing Officer DANIEL C. HEINTZELMAN Vice Chairman, Enterprise BRACKETT B. DENNISTON III NOT PICTURED: John L. Risk and Operations Senior Vice President and Flannery, Senior Vice President, General Counsel Business Development 2013 PERFORMANCE CONSOLIDATED SEGMENT OPERATING EARNINGS GE CFOA REVENUES (In $ billions) PROFIT (In $ billions) PER SHARE (In $ billions) 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 $154 $149 $147 $147 $146 CAPITAL 5149 48 45 44 $24.5 $1.64 $17.8 $17.4* $22.8 $1.51 $16.4 $20.5 $1.30 $14.7 $17.2 $1.13 NBCU 15 17 6 2 2 $15.7 $12.1 $0.91 INDUSTRIAL 88 83 93 100 100 *Excludes NBCUniversal deal-related taxes GE Scorecard Industrial Segment Profi t Growth 5% Return on Total Capital 11.3% Cash from GE Capital $6B GE Capital Tier 1 Common Ratio 11.2% Margin Growth 60bps GE Year-End Market Capitalization $282B, +$64B Cash Returned to Investors $18.2B GE Rank by Market Capitalization #6 GE 2013 ANNUAL REPORT 1 LETTER TO SHAREOWNERS MAKING PROGRESS GE has stayed competitive for more than a century—not because we are perfect—but because we make progress.
    [Show full text]
  • Report of Contracting Activity
    Vendor Name Address Vendor Contact Vendor Phone Email Address Total Amount 1213 U STREET LLC /T/A BEN'S 1213 U ST., NW WASHINGTON DC 20009 VIRGINIA ALI 202-667-909 $3,181.75 350 ROCKWOOD DRIVE SOUTHINGTON CT 13TH JUROR, LLC 6489 REGINALD F. ALLARD, JR. 860-621-1013 $7,675.00 1417 N STREET NWCOOPERATIVE 1417 N ST NW COOPERATIVE WASHINGTON DC 20005 SILVIA SALAZAR 202-412-3244 $156,751.68 1133 15TH STREET NW, 12TH FL12TH FLOOR 1776 CAMPUS, INC. WASHINGTON DC 20005 BRITTANY HEYD 703-597-5237 [email protected] $200,000.00 6230 3rd Street NWSuite 2 Washington DC 1919 Calvert Street LLC 20011 Cheryl Davis 202-722-7423 $1,740,577.50 4606 16TH STREET, NW WASHINGTON DC 19TH STREET BAPTIST CHRUCH 20011 ROBIN SMITH 202-829-2773 $3,200.00 2013 H ST NWSTE 300 WASHINGTON DC 2013 HOLDINGS, INC 20006 NANCY SOUTHERS 202-454-1220 $5,000.00 3900 MILITARY ROAD NW WASHINGTON DC 202 COMMUNICATIONS INC. 20015 MIKE HEFFNER 202-244-8700 [email protected] $31,169.00 1010 NW 52ND TERRACEPO BOX 8593 TOPEAK 20-20 CAPTIONING & REPORTING KS 66608 JEANETTE CHRISTIAN 785-286-2730 [email protected] $3,120.00 21C3 LEADERSHIP DEVELOPMENT LL 11 WATERFORD CIRCLE HAMPTON VA 23666 KIPP ROGERS 757-503-5559 [email protected] $9,500.00 1816 12TH STREET NW WASHINGTON DC 21ST CENTURY SCHOOL FUND 20009 MARY FILARDO 202-745-3745 [email protected] $303,200.00 1550 CATON CENTER DRIVE, 21ST CENTURY SECURITY, LLC #ADBA/PROSHRED SECURITY BALTIMORE MD C. MARTIN FISHER 410-242-9224 $14,326.25 22 Atlantic Street CoOp 22 Atlantic Street SE Washington DC 20032 LaVerne Grant 202-409-1813 $2,899,682.00 11701 BOWMAN GREEN DRIVE RESTON VA 2228 MLK LLC 20190 CHRIS GAELER 703-581-6109 $218,182.28 1651 Old Meadow RoadSuite 305 McLean VA 2321 4th Street LLC 22102 Jim Edmondson 703-893-303 $13,612,478.00 722 12TH STREET NWFLOOR 3 WASHINGTON 270 STRATEGIES INC DC 20005 LENORA HANKS 312-618-1614 [email protected] $60,000.00 2ND LOGIC, LLC 10405 OVERGATE PLACE POTOMAC MD 20854 REZA SAFAMEJAD 202-827-7420 [email protected] $58,500.00 3119 Martin Luther King Jr.
    [Show full text]