Vehicle and parts inventories are recorded at the lower of cost or net realizable value, with cost determined by the last-in, first-out (“LIFO”) method. Cost includes purchase costs, reconditioning costs, dealer-installed accessories and freight. For vehicles accepted as trade-ins, the cost is the fair value of such pre-owned vehicles at the time of the trade-in. Other inventory includes parts and accessories, as well as retail travel and leisure specialty merchandise, and is recorded at the lower of cost or net realizable value with cost determined by LIFO method.

The current replacement costs of LIFO inventories exceeded their recorded values by $25.2 million and $28.4 million as of September 30, 2025 and December 31, 2024, respectively. As of September 30, 2025, all of our inventories were reclassified to held for sale. Refer to Note 5 - Dispositions and Assets Held for Sale and Note 15 - Subsequent Events for further information.


(In thousands)	September 30, 2025		December 31, 2024
New recreational vehicles	$	—	$	188,918
Pre-owned recreational vehicles	—		43,062
Parts, accessories and other	—		8,396
	—		240,376
Less: excess of current cost over LIFO	—		(28,430)
Inventories, net(1)	$	—	$	211,946

(1) Inventories as of September 30, 2025 are presented as current assets held for sale in our balance sheets. Refer to Note 5 - Dispositions and Assets Held for Sale for further information.