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Property and Equipment, Net

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

The Company’s property and equipment consisted of the following (in millions):

						December 31,
						2020						2019
Land						$	619.8					$	571.3
Buildings and leasehold improvements						1,107.1						1,067.6
Machinery and dealership equipment						145.8						138.2
Office equipment, furniture and fixtures						124.1						118.5
Company vehicles						15.0						15.1
Construction in progress						56.6						36.5
Total						2,068.4						1,947.3
Less: accumulated depreciation and amortization						460.2						400.2
Property and equipment, net						$	1,608.2					$	1,547.1

For the years ended December 31, 2020, 2019 and 2018 the Company recognized $4.2 million, $1.3 million and $5.1 million, respectively, in asset impairment charges related to property and equipment in the Company’s U.S. segment. For the year ended December 31, 2019, the Company recognized $0.5 million in asset impairment charges related to property and equipment in the Company’s Brazil segment. Property and equipment impairment charges are reflected in Asset impairments in the Consolidated Statements of Operations.

Depreciation and amortization expense totaled $75.8 million, $71.6 million and $67.1 million for the years ended December 31, 2020, 2019 and 2018, respectively.

The Company capitalized $1.1 million, $1.3 million and $1.3 million of interest on construction projects for the years ended December 31, 2020, 2019 and 2018, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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