Assets and liabilities classified as held for sale include (i) assets and liabilities associated with pending dealership disposals and (ii) real estate that we are actively marketing to sell.


	As of
	June 30, 2026		December 31, 2025
	(In millions)
Assets:


Inventory	$	28.5	$	96.5
Loaners, net	1.6		15.4

Property and equipment, net	46.4		117.3
Operating lease right-of-use assets	—		1.8
Goodwill	—		33.3
Franchise rights	5.0		4.5
Total assets held for sale	81.5		268.9
Liabilities:




Current maturities of operating leases	—		0.4

Operating lease liabilities	—		1.5
Total liabilities associated with assets held for sale	—		1.8
Net assets held for sale	$	81.5	$	267.0

As of June 30, 2026, assets held for sale consisted of five franchises (three dealership locations) in addition to one real estate property.

In June 2026, the Company recognized a $4.2 million pre-tax non-cash franchise rights impairment charge in connection with a dealership that was classified as assets held for sale in June 2026. The quantitative assessment for the disposal group included a comparison of the estimated fair value to the carrying value of the disposal group less costs to sell. The Company determined the estimated fair value of the disposal group based on estimated sales proceeds less costs to sell. The franchise rights impairment charge is reflected in asset impairments in our condensed consolidated statements of income for the three and six months ended June 30, 2026.

As of December 31, 2025, assets held for sale consisted of 15 franchises (11 dealership locations) in addition to two real estate properties.