v3.25.4
INVENTORY AND VEHICLE FLOOR PLAN NOTES PAYABLE (Tables)
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventory, Current
Inventory, net of reserves, consisted of the following as of December 31:
($ in millions)20252024
New powersports vehicles$197.3 $184.9 
Pre-owned powersports vehicles38.0 34.3 
Parts, accessories and other22.1 21.4 
Total inventory$257.4 $240.6 
Schedule of Debt
Floor plan notes payable consisted of the following as of December 31:
($ in millions)20252024
Vehicle floor plan notes payable (trade)$97.0 $73.5 
Vehicle floor plan notes payable (non-trade)(1)
121.4 136.4 
Total floor plan debt$218.4 $209.9 
(1) Includes a related-party pre-owned inventory floor plan line (see Note 15).
Long-term debt consisted of the following as of December 31:
($ in millions)20252024
Term Loan Credit Agreement due September 2027(1)
$207.7 $227.1 
Subordinated Loans due August 2028(2)
10.0 — 
6.75% convertible senior notes
— 38.8 
Notes payable for fleet vehicles and other(3)
1.1 1.5 
Total principal amount218.8 267.4 
Less: Unamortized discount and debt issuance costs(11.2)(16.3)
Total debt207.6 251.1 
Less: Current portion of long-term debt(0.4)(39.1)
Long-term debt$207.2 $212.0 
(1) Interest payments are required quarterly. Fair value was $215.7 million and $243.8 million as of December 31, 2025 and 2024, respectively. Interest rates were 11.9% and 13.6% as of December 31, 2025 and 2024, respectively.
(2) Fair value was $8.7 million as of December 31, 2025. See Note 15 for a description of the Subordinated Loans, which are with related parties.
(3) Carrying value approximates fair value due to the nature of this debt.