
(in millions)	Fiscal 2026		Fiscal 2025		Fiscal 2024
Goodwill impairment (1)	$	53.6	$	272.5	$	—
Indefinite-lived intangible asset impairment (1)	21.0		94.0		—
Cloud computing asset impairment	9.9		—		—
Property, plant and equipment impairment	5.1		3.5		3.8
Operating lease ROU asset impairment, net	2.0		2.0		2.7
Definite-lived intangible asset impairment	—		—		2.6
Total asset impairments, net	$	91.6	$	372.0	$	9.1

Long-lived assets of the Company consist primarily of property and equipment and operating lease right-of-use (“ROU”) assets. Long-lived assets are reviewed for impairment whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. Potentially impaired assets or asset groups are identified by reviewing the undiscounted cash flows of individual stores. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset or asset group to estimated undiscounted future cash flows expected to be generated by the store asset group, based on the Company’s internal business plans. If the undiscounted cash flows for the store asset group are less than its carrying amount, the long-lived assets are measured for potential impairment by estimating the fair value of the asset group, and recording an impairment loss for the amount that the carrying value exceeds the estimated fair value. The Company primarily utilizes the replacement cost method to estimate the fair value of its property and equipment, and the income capitalization method to estimate the fair value of its ROU assets, which incorporates historical store level sales, internal business plans, real estate market capitalization and rental rates, and discount rates.

During Fiscal 2026, the Company decommissioned certain software systems accounted for as cloud computing arrangements in connection with the realignment of certain digital initiatives under the restructuring activities further described in Note 25. As a result of decommissioning these systems, the Company recorded impairment charges of $9.9 million during Fiscal 2026.

During Fiscal 2026, Fiscal 2025 and Fiscal 2024, the Company completed its quarterly triggering event assessments and determined that triggering events had occurred for certain long-lived asset groups at individual stores based on real estate assessments (including store closure decisions) and store performance for the remaining lease period for certain stores that required an impairment assessment. This impacted property and equipment and ROU assets at the store level. The Company identified certain stores in the initial recoverability test which had carrying values in excess of the estimated undiscounted cash flows. For these stores failing the initial recoverability test, a fair value assessment for these long-lived assets was performed.

As a result of the assessment of the estimated fair values, the Company recorded impairment charges for property and equipment of $5.1 million in Fiscal 2026 (Fiscal 2025: $3.5 million; Fiscal 2024: $3.8 million). In addition, the Company recorded net ROU asset impairment charges of $2.0 million in Fiscal 2026 (Fiscal 2025: $2.0 million; Fiscal 2024: $2.7 million).

Certain factors impacting the Company’s business could continue to further negatively affect the operating performance and cash flows of the previously impaired stores or additional stores, including changes in consumer behavior and shifts in discretionary spending, the inability to achieve or maintain cost savings or other strategic initiatives, or changes in real estate strategy, as well as macroeconomic uncertainty related to areas such as the impacts of tariffs, economic and tax policy, and inflation. In addition, key assumptions used to estimate fair value, such as sales trends, capitalization and market rental rates, and discount rates could impact the fair value estimates of the store-level assets in future periods.