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Goodwill and Franchise Value (Tables)
 3 Months Ended
Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The changes in the carrying amounts of goodwill are as follows (in thousands):
 
 
Domestic
 
Import
 
Luxury
 
Consolidated
Balance as of December 31, 2016 ¹
 
$
114,839

 
$
106,179

 
$
38,381

 
$
259,399

Adjustments to purchase price allocations2
 
(817
)
 
(1,006
)
 
(391
)
 
(2,214
)
Reductions through divestitures
 
—

 
(865
)
 
—

 
(865
)
Balance as of December 31, 2017 ¹
 
114,022

 
104,308

 
37,990

 
256,320

Additions through acquisitions 3
 
—

 
—

 
—

 
—

Reductions through divestitures
 
—

 
(37
)
 
—

 
(37
)
Balance as of March 31, 2018 ¹
 
$
114,022

 
$
104,271

 
$
37,990

 
$
256,283

1 Net of accumulated impairment losses of $299.3 million recorded during the year ended December 31, 2008.
2 Our purchase price allocation for the acquisition of the Carbone Auto Group was finalized in the third quarter of 2017. As a result, we reclassified $2.2 million of value from goodwill to franchise value.
3 Our purchase price allocation is preliminary for the acquisitions of the Baierl Auto Group, Downtown LA Auto Group, Albany CJD Fiat, Crater Lake Ford Lincoln, Crater Lake Mazda, Ray Laks Honda, Ray Laks Acura, Day Auto Group, and Prestige Auto Group and the associated goodwill has not been allocated to each of our segments. See also Note 10.
Schedule of Franchise Value
The changes in the carrying amounts of franchise value are as follows (in thousands):
 
Franchise Value
Balance as of December 31, 2016
$
184,268

Additions through acquisitions
495

Adjustments to purchase price allocations 1
2,214

Balance as of December 31, 2017
186,977

Additions through acquisitions 2
—

Balance as of March 31, 2018
$
186,977

1 Our purchase price allocation for the acquisition of the Carbone Auto Group was finalized in the third quarter of 2017, resulting in a reclassification of $2.2 million from goodwill to franchise value.
2 Our purchase price allocation is preliminary for the acquisitions of the Baierl Auto Group, Downtown LA Auto Group, Albany CJD Fiat, Crater Lake Ford Lincoln, Crater Lake Mazda, Ray Laks Honda, Ray Laks Acura, Day Auto Group, and Prestige Auto Group and have not been included in the above franchise value additions. See also Note 10.