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Goodwill and Franchise Value (Tables)
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The following is a roll-forward of goodwill:
($ in millions)Vehicle OperationsFinancing OperationsConsolidated
Balance as of December 31, 2020 ¹$593.0 $— $593.0 
Additions through acquisitions 2
395.5 — 395.5 
Reductions through divestitures(11.2)— (11.2)
Balance as of December 31, 2021 ¹977.3 — 977.3 
Additions through acquisitions 3
483.4 17.0 500.4 
Reductions through divestitures(17.9)— (17.9)
Currency translation0.7 0.2 0.9 
Balance as of December 31, 2022 ¹$1,443.5 $17.2 $1,460.7 
(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 the 2021 acquisitions were finalized in 2022. As a result, we added $500.4 million of goodwill. Our purchase price allocation for the 2022 acquisitions are preliminary and goodwill is not yet allocated to our segments. These amounts are included in other non-current assets until we finalize our purchase accounting. See Note 16 – Acquisitions.
Schedule of Franchise Value
The following is a roll-forward of franchise value:
($ in millions)Franchise Value
Balance as of December 31, 2020$350.2 
Additions through acquisitions1
459.7 
Reductions through divestitures(8.9)
Reductions from impairments(1.9)
Balance as of December 31, 2021799.1 
Additions through acquisitions2
1,088.4 
Reductions through divestitures(33.6)
Currency translation2.3 
Balance as of December 31, 2022$1,856.2 
(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 the 2021 acquisitions were finalized in 2022. As a result, we added $1,088.4 million of franchise value. Our purchase price allocation for the 2022 acquisitions are preliminary and is not yet allocated to our segments. See Note 16 – Acquisitions.