Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.22.4
Property and Equipment
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consists of the following:
  December 31, 2022 December 31, 2021
  (In millions)
Land $ 478.2  $ 447.4 
Buildings and improvements 1,365.3  1,240.5 
Furniture, fixtures and equipment 504.1  451.2 
Construction in progress 57.0  68.1 
    Total, at cost 2,404.6  2,207.2 
Less accumulated depreciation (842.9) (746.2)
Subtotal 1,561.7  1,461.0 
Less assets held for sale (1) —  (2.2)
Property and equipment, net $ 1,561.7  $ 1,458.8 
(1)Classified in other current assets in the accompanying consolidated balance sheets.
Interest capitalized in conjunction with construction projects and software development was approximately $1.6 million, $1.8 million and $0.8 million for 2022, 2021 and 2020, respectively. As of December 31, 2022, commitments for facility construction projects totaled approximately $28.8 million.
Property and equipment impairment charges were approximately $1.1 million in 2022 related to the abandonment of certain construction projects in our Franchised Dealerships Segment.