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Goodwill and Franchise Value
 12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Franchise Value
Goodwill and Franchise Value

The following is a roll-forward of goodwill (in millions):
 
 
Domestic
 
Import
 
Luxury
 
Consolidated
Balance as of December 31, 2016 ¹
 
$
114.8

 
$
106.2

 
$
38.4

 
$
259.4

Adjustments to purchase price allocations 2
 
(0.8
)
 
(1.0
)
 
(0.4
)
 
(2.2
)
Reductions through divestitures
 
—

 
(0.9
)
 
—

 
(0.9
)
Balance as of December 31, 2017 ¹
 
114.0

 
104.3

 
38.0

 
256.3

Additions through acquisitions 3
 
51.4

 
85.8

 
43.5

 
180.7

Reductions through divestitures
 
(0.9
)
 
(1.2
)
 
—

 
(2.1
)
Balance as of December 31, 2018 1, 4
 
$
164.5

 
$
188.9

 
$
81.5

 
$
434.9


(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, resulting in a reclassification of $2.2 million from goodwill to franchise value.
(3)
Our purchase price allocation for the 2017 acquisition of the Baierl Auto Group was finalized in the second quarter of 2018. Our purchase price allocation for the 2017 acquisitions of the Downtown LA Auto Group, Crater Lake Ford Lincoln, and Crater Lake Mazda were finalized in the third quarter of 2018. Our purchase price allocation for 2018 acquisition of Broadway Ford and the 2017 acquisition of Albany CJD Fiat were finalized in the fourth quarter of 2018. Our purchase price allocation for the 2018 acquisition of Prestige Auto Group is preliminary and was allocated to our segments in the fourth quarter of 2018, but is subject to change upon final valuation analysis. As a result, we added $180.7 million of goodwill in 2018.
(4)
Our purchase price allocation is preliminary for the acquisitions of Ray Laks Honda, Ray Laks Acura, Day Auto Group, and Buhler Ford. The primary balances still subject to analysis are the real estate assets, goodwill allocation to our segments and franchise value. See Note 14.

The following is a roll-forward of franchise value (in millions):
 
 
Franchise Value
Balance as of December 31, 2016
 
$
184.3

Additions through acquisitions
 
0.5

Adjustments to purchase price allocations 1
 
2.2

Balance as of December 31, 2017
 
187.0

Additions through acquisitions 2
 
103.5

Reductions through divestitures
 
(1.8
)
Balance as of December 31, 2018 3
 
$
288.7


(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 for the acquisition of the Baierl Auto Group was finalized in the second quarter of 2018. Our purchase price allocation for the acquisitions of the Downtown LA Auto Group, Crater Lake Ford Lincoln, and Crater Lake Mazda were finalized in the third quarter of 2018. Our purchase price allocation for Broadway Ford and Albany CJD Fiat were finalized in the fourth quarter of 2018. Our purchase price allocation for Prestige Auto Group is preliminary and was allocated to our segments in the fourth quarter of 2018, but is subject to change upon final valuation analysis. As a result, we added $103.5 million of franchise value in 2018.
(3)
Our purchase price allocation is preliminary for the acquisition of the Ray Laks Honda, Ray Laks Acura, Day Auto Group, and Buhler Ford and the associated franchise value has not been allocated to each of our segments. The primary balances still subject to analysis are the real estate assets, goodwill allocation to our segments and franchise value. See Note 14.