Long-Lived Asset Impairment

9 Months Ended

Sep. 30, 2025

Long-Lived Asset Impairment

Long-Lived Asset Impairment

4. Long-Lived Asset Impairment

During the three and nine months ended September 30, 2025 and September 30, 2024, the Company had indicators of impairment of the long-lived assets for certain locations. Such indicators primarily included decreases in market rental rates or decreases in the market value of real property for closed locations, and the Company’s review of location performance in the normal course of business. As a result of updating certain assumptions in the long-lived asset impairment analysis for these locations, the Company determined that the fair value of certain long-lived assets was below their carrying value and were impaired.

The long-lived asset impairment charges were calculated as the amount that the carrying value of these locations exceeded the estimated fair value, except that individual assets cannot be impaired below their individual fair values when that fair value can be determined without undue cost and effort. Estimated fair value is typically based on estimated discounted future cash flows, while property appraisals or market rent analyses are utilized for determining the fair value of certain assets related to properties and leases.

The following table details long-lived asset impairment charges by type of long-lived asset, all of which relate to the RV and Outdoor Retail segment (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Long-lived asset impairment charges by type of long-lived asset:
Leasehold improvements	$	—	$	214	$	190	$	3,694
Operating lease right of use assets		617		547		617		4,874
Building and improvements		—		1,183		430		3,787
Total long-lived asset impairment charges	$	617	$	1,944	$	1,237	$	12,355