Franchising Operating Rights and Goodwill (Tables)

9 Months Ended

Sep. 30, 2023

Franchising Operating Rights and Goodwill

Schedule of changes in the carrying amounts of franchise operating rights

	Three months ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
	(in millions)
Franchise Operating Rights
Balance at beginning of period	$	457.0	$	620.1	$	585.1	$	620.1
Impairment charge		(131.7)		—		(259.8)		—
Balance at end of period	$	325.3	$	620.1	$	325.3	$	620.1
Goodwill
Balance at beginning of period	$	225.1	$	225.1	$	225.1	$	225.1
Impairment charge		—		—		—		—
Balance at end of period	$	225.1	$	225.1	$	225.1	$	225.1

Schedule of changes in the carrying amounts of goodwill

	Three months ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
	(in millions)
Franchise Operating Rights
Balance at beginning of period	$	457.0	$	620.1	$	585.1	$	620.1
Impairment charge		(131.7)		—		(259.8)		—
Balance at end of period	$	325.3	$	620.1	$	325.3	$	620.1
Goodwill
Balance at beginning of period	$	225.1	$	225.1	$	225.1	$	225.1
Impairment charge		—		—		—		—
Balance at end of period	$	225.1	$	225.1	$	225.1	$	225.1

Schedule of impairment charges recognized in each market

	September 30,  2023
	Three month ended		Nine months ended
	(in millions)
Columbus, GA	$	35.4	$	39.1
Huntsville, AL		21.5		81.5
Augusta, GA		20.5		44.9
Montgomery, AL		20.0		33.0
Charleston, SC		12.5		12.5
Panama City, FL		9.5		23.0
Valley, AL		6.5		10.5
Knoxville, TN		5.8		5.8
Newnan, GA		-		9.5
Total	$	131.7	$	259.8