Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Intangible Assets, Net

GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill and intangible assets, net, at December 31 consisted of the following:

	2021		2020
Goodwill	$	1,235.3	$	1,185.0
Franchise rights - indefinite-lived	$	727.5	$	509.0
Other intangible assets	24.0		19.6
	751.5		528.6
Less: accumulated amortization	(8.0)		(7.1)
Intangible assets, net	$	743.5	$	521.5

Goodwill

Goodwill allocated to our reporting units and changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2020, were as follows:

	Domestic		Import		Premium Luxury		Collision Centers		Parts Centers		Corporate & Other		Consolidated
Balance as of January 1, 2020
Goodwill	$	367.3	$	498.9	$	714.9	$	41.7	$	19.1	$	1,470.0	$	3,111.9
Accumulated impairment losses	(140.0)		—		—		—		—		(1,470.0)		(1,610.0)
	227.3		498.9		714.9		41.7		19.1		—		1501.9
Acquisitions, dispositions, and other adjustments, net (1)	(0.1)		1.7		(0.3)		(0.1)		0.2		—		1.4
Impairment	—		—		(257.4)		(41.6)		(19.3)		—		(318.3)
Balance as of December 31, 2020
Goodwill	367.2		500.6		714.6		41.6		19.3		1,470.0		3,113.3
Accumulated impairment losses	(140.0)		—		(257.4)		(41.6)		(19.3)		(1,470.0)		(1,928.3)
	227.2		500.6		457.2		—		—		—		1,185.0
Acquisitions, dispositions, and other adjustments, net (1)	1.5		17.3		26.9		4.6		—		—		50.3
Balance as of December 31, 2021
Goodwill	368.7		517.9		741.5		46.2		19.3		1,470.0		3,163.6
Accumulated impairment losses	(140.0)		—		(257.4)		(41.6)		(19.3)		(1,470.0)		(1,928.3)
	$	228.7	$	517.9	$	484.1	$	4.6	$	—	$	—	$	1,235.3

(1)    Includes amounts reclassified to held for sale and related adjustments, which are presented in Other Current Assets in our Consolidated Balance Sheet as of period end.

See Note 19 of the Notes to Consolidated Financial Statements for more information about our goodwill impairment test.

Intangible Assets

Our principal identifiable intangible assets are individual store rights under franchise agreements with vehicle manufacturers. As of December 31, 2021, we had $727.5 million of franchise rights recorded on our Consolidated Balance Sheet, of which $137.7 million was related to Domestic stores, $143.8 million was related to Import stores, and $446.0 million was related to Premium Luxury stores.

See Note 19 of the Notes to Consolidated Financial Statements for more information about our franchise rights impairment tests.