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Goodwill and Franchise Value (Tables) | 6 Months Ended
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Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The changes in the carrying amounts of goodwill are as follows (in millions):
|  | Domestic |  | Import |  | Luxury |  | Consolidated
Balance as of December 31, 2017 ¹ |  | $ | 114.0 |  |  | $ | 104.3 |  |  | $ | 38.0 |  |  | $ | 256.3 |
Additions through acquisitions 2 |  | 51.4 |  |  | 85.8 |  |  | 43.5 |  |  | 180.7 |
Reductions through divestitures |  | (0.9 | ) |  | (1.2 | ) |  | — |  |  | (2.1 | )
Balance as of December 31, 2018 ¹ |  | 164.5 |  |  | 188.9 |  |  | 81.5 |  |  | 434.9 |
Adjustments to purchase price allocations 3 |  | 1.6 |  |  | 1.6 |  |  | 1.9 |  |  | 5.1 |
Additions through acquisitions 3 |  | 6.2 |  |  | 9.0 |  |  | 2.2 |  |  | 17.4 |
Reductions through divestitures |  | (0.1 | ) |  | — |  |  | — |  |  | (0.1 | )
Balance as of June 30, 2019 1 |  | $ | 172.2 |  |  | $ | 199.5 |  |  | $ | 85.6 |  |  | $ | 457.3 |
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 2017 acquisitions of the Baierl Auto Group, the Downtown LA Auto Group, Crater Lake Ford Lincoln, Crater Lake Mazda, Albany CJD Fiat and the 2018 acquisition of Broadway Ford were finalized in 2018. Also, our purchase price allocation for the 2018 acquisition of Prestige Auto Group was preliminary and was allocated to our segments in 2018. As a result, we added $180.7 million of goodwill. 3 Our purchase price allocation for the acquisitions of the Ray Laks Honda, Ray Laks Acura, Day Auto Group, Prestige Auto Group, and Buhler Ford were finalized in 2019. As a result, we added $22.5 million of goodwill.
Schedule of Franchise Value | The changes in the carrying amounts of franchise value are as follows (in millions):
| Franchise Value
Balance as of December 31, 2017 | $ | 187.0 |
Additions through acquisitions 1 | 103.5 |
Reductions through divestitures | (1.8 | )
Balance as of December 31, 2018 | 288.7 |
Adjustments to purchase price allocations 2 | 3.5 |
Additions through acquisitions 2 | 20.9 |
Reductions through divestitures | (4.0 | )
Balance as of June 30, 2019 | $ | 309.1 |
1 Our purchase price allocation for the 2017 acquisitions of the Baierl Auto Group, the Downtown LA Auto Group, Crater Lake Ford Lincoln, Crater Lake Mazda, Albany CJD Fiat and the 2018 acquisition of Broadway Ford were finalized in 2018. Also, our purchase price allocation for the 2018 acquisition of Prestige Auto Group was preliminary and was allocated to our segments in 2018. As a result, we added $103.5 million of franchise value. 2 Our purchase price allocation for the acquisitions of the Ray Laks Honda, Ray Laks Acura, Day Auto Group, Prestige Auto Group, and Buhler Ford were finalized in 2019. As a result, we added $24.4 million of franchise value.

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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -Subparagraph (b),(d) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
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