Annual report [Section 13 and 15(d), not S-K Item 405]

Property and Equipment

v3.25.4
Property and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consists of the following:
  December 31, 2025 December 31, 2024
  (In millions)
Land $ 470.1  $ 484.3 
Buildings and improvements 1,556.8  1,510.7 
Furniture, fixtures and equipment 565.7  577.3 
Construction in progress 59.3  61.6 
    Total, at cost 2,651.9  2,633.9 
Less accumulated depreciation (1,087.0) (1,003.6)
Subtotal 1,564.9  1,630.3 
Less assets held for sale (1) (2.0) (23.4)
Property and equipment, net $ 1,562.9  $ 1,606.9 
(1)Classified in other current assets in the accompanying consolidated balance sheets.
Interest capitalized in conjunction with construction projects and software development was approximately $2.2 million, $2.6 million and $2.2 million for 2025, 2024 and 2023, respectively. As of December 31, 2025, commitments for facility construction projects totaled approximately $20.9 million.
During 2025, 2024 and 2023, property and equipment impairment charges were recorded as noted in the following table:
Franchised Dealerships Segment EchoPark Segment Consolidated
Year Ended December 31, (In millions)
2025 $ —  $ 0.2  $ 0.2 
2024 $ 1.2  $ 2.7  $ 3.9 
2023 $ 1.0  $ 41.7  $ 42.7 
Property and equipment impairment charges in 2025 were approximately $0.2 million, which was related to real estate held for sale. In 2024 and 2023 impairment charges were related to the closure of certain EchoPark and Northwest Motorsports stores, and the abandonment of certain construction projects in our Franchised Dealerships Segment.