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GOODWILL AND FRANCHISE VALUE | 6 Months Ended
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Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract] |
GOODWILL AND FRANCHISE VALUE | GOODWILL AND FRANCHISE VALUE The changes in the carrying amounts of goodwill are as follows:
(In millions) | Vehicle Operations |  | Financing Operations |  | Consolidated
Balance as of December 31, 2024 | $2,099.3 |  | $16.2 |  | $2,115.5
Additions through acquisitions 1 | 383.1 |  | — |  | 383.1
Reductions through disposals | (39.2) |  | — |  | (39.2)
Currency translation | 16.5 |  | 0.8 |  | 17.3
Balance as of December 31, 2025 | 2,459.7 |  | 17.0 |  | 2,476.7
Additions through acquisitions 2 | 71.1 |  | — |  | 71.1
Reductions through disposals | (2.8) |  | — |  | (2.8)
Currency translation | (5.6) |  | (0.6) |  | (6.2)
Balance as of June 30, 2026 | $2,522.4 |  | $16.4 |  | $2,538.8
1 Our purchase price allocations (PPA) for the 2024 acquisitions were finalized in 2025. As a result, we added $348.2 million of goodwill. Preliminary PPA for a portion of our 2025 acquisitions resulted in adding $34.9 million of goodwill. Our PPA for the remaining 2025 acquisitions are preliminary and goodwill is not yet allocated to our segments. These amounts are included in other non-current assets until we finalize our purchase accounting. See Note 12 – Acquisitions. 2 Our PPA for a portion of the 2025 acquisitions were finalized in 2026. As a result, we added $71.1 million of goodwill. Our PPA for the remainder of the 2025 acquisitions and 2026 acquisitions are preliminary and goodwill is not yet allocated to our segments. These amounts are included in other non-current assets until we finalize our purchase accounting. See Note 12 – Acquisitions. The changes in the carrying amounts of franchise value are as follows:
(In millions) | Franchise Value
Balance as of December 31, 2024 | $2,550.3
Additions through acquisitions 1 | 231.1
Reductions through divestitures | (20.9)
Reductions from impairments 2 | (5.8)
Currency translation | 22.7
Balance as of December 31, 2025 | 2,777.4
Additions through acquisitions 3 | 35.2
Reductions through divestitures | (20.8)
Currency translation | (10.1)
Balance as of June 30, 2026 | $2,781.7
1 Our PPA for the 2024 acquisitions were finalized in 2025. As a result, we added $218.0 million of franchise value. Preliminary PPA for a portion of our 2025 acquisitions resulted in adding $13.1 million of franchise value. These amounts are included in other non-current assets until we finalize our purchase accounting. See Note 12 – Acquisitions. 2 In our annual impairment testing in 2025, we determined the franchise value of one underperforming store was not recoverable, resulting in an impairment of $5.8 million being recorded in the Consolidated Statements of Operations as Asset impairments. Balance as of June 30, 2026 and December 31, 2025 is net of accumulated impairments of this amount only. 3 Our PPA for a portion of the 2025 acquisitions were finalized in 2026. As a result, we added $35.2 million of franchise value. Our PPA for the remainder of the 2025 acquisitions and 2026 acquisitions are preliminary and franchise value is not yet allocated. These amounts are included in other non-current assets until we finalize our purchase accounting. See Note 12 – Acquisitions.

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- Definition The entire disclosure for intangible asset and goodwill. Includes, but is not limited to, finite- and indefinite-lived intangible assets, capitalized cost for internal-use software and software to be sold, leased, or marketed. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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