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GOODWILL AND FRANCHISE VALUE (Tables) | 6 Months Ended
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Jun. 30, 2022
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 |  | Corporate and Other |  | Consolidated
Balance as of December 31, 2020 ¹ |  | $ | 204.5 |  |  | $ | 287.9 |  |  | $ | 100.6 |  |  | $ | — |  |  | $ | 593.0 |
Additions through acquisitions 2 |  | 101.0 |  |  | 188.7 |  |  | 105.8 |  |  | — |  |  | 395.5 |
Reductions through divestitures |  | (1.5) |  |  | (8.4) |  |  | (1.3) |  |  | — |  |  | (11.2) |
Balance as of December 31, 2021 ¹ |  | 304.0 |  |  | 468.2 |  |  | 205.1 |  |  | — |  |  | 977.3 |
Additions through acquisitions 3 |  | 75.9 |  |  | 130.1 |  |  | 59.4 |  |  | 0.7 |  |  | 266.1 |
Reductions through divestitures |  | (4.1) |  |  | (1.7) |  |  | — |  |  | — |  |  | (5.8) |
Balance as of June 30, 2022 ¹ |  | $ | 375.8 |  |  | $ | 596.6 |  |  | $ | 264.5 |  |  | $ | 0.7 |  |  | $ | 1,237.6 |
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 2020 acquisitions were finalized in 2021. As a result, we added $395.5 million of goodwill. 3 Our purchase price allocation for a portion of the 2021 acquisitions was finalized in 2022. As a result, we added $266.1 million of goodwill. Our purchase price allocation for the remaining 2021 and 2022 acquisitions are preliminary and goodwill is not yet allocated to our reporting units. These amounts are included in other non-current assets until we finalize our purchase accounting. See Note 13 – Acquisitions.
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, 2020 | $ | 350.2 |
Additions through acquisitions 1 | 459.7 |
Reductions through divestitures | (8.9) |
Reductions from impairments | (1.9) |
Balance as of December 31, 2021 | 799.1 |
Additions through acquisitions 2 | 646.7 |
Reductions through divestitures | (2.0) |
Balance as of June 30, 2022 | $ | 1,443.8 |
1 Our purchase price allocation for the 2020 acquisitions were finalized in 2021. As a result, we added $459.7 million of franchise value. 2 Our purchase price allocation for a portion of the 2021 acquisitions was finalized in 2022. As a result, we added $646.7 million of franchise value. Our purchase price allocation for the remaining 2021 and 2022 acquisitions are preliminary and franchise value is not yet allocated to our reporting units. These amounts are included in other non-current assets until we finalize our purchase accounting. See Note 13 – Acquisitions.

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