	June 30,			December 31,
	2019			2018
Land	$	259,537		$	283,137
Buildings and site improvements		320,122			361,579
Leasehold improvements		8,328			7,936
Equipment		185,283			184,653
Construction in progress		8,650			3,841
Property and equipment, at cost		781,920			841,146
Accumulated depreciation and amortization		(191,038	)		(193,733	)
Property and equipment, net	$	590,882		$	647,413

As a result of the adoption of ASC 842, on January 1, 2019, we recorded a transition adjustment removing the $42.0 million of property and equipment, net, recorded on the December 31, 2018 balance sheet related to leases previously accounted for as failed sale-leaseback transactions. See Note 1 for additional information.

As discussed in Note 7, we lease sites under our Getty Lease, for which the building and equipment components are classified as a finance lease. The right-of-use asset associated with this finance lease is included in the table above and totaled $15.1 million at June 30, 2019, net of accumulated amortization. Amortization of this right-of-use asset is included in depreciation, amortization and accretion expense on the statement of operations and amounted to $0.5 million and $1.2 million for the three and six months ended June 30, 2019.

We recorded impairment charges totaling $7.6 million and $8.9 million during the three and six months ended June 30, 2018 related to the FTC-required divestitures, included within depreciation, amortization and accretion expense on the statement of operations. The impairment charges for the three and six months ended June 30, 2018 include $1.2 million of wholesale fuel distribution rights and $0.3 million of goodwill, most of which related to the Retail segment.

See Note 2 for additional information related to the May 2019 closing of the first tranche of the asset exchange with Circle K.