Non-Controlling Interests

12 Months Ended

Dec. 31, 2016

Non-controlling Interest

Non-Controlling Interests

19. Non-Controlling Interests

In connection with the Reorganization Transactions described in Note 18 — Stockholders’ Equity, CWH became the sole managing member of CWGS, LLC and, as a result, consolidate the financial results of CWGS, LLC. The Company reports a non-controlling interest representing the common units of CWGS, LLC held by Continuing Equity Owners. Changes in the CWH’s ownership interest in CWGS, LLC while CWH retains its controlling interest in CWGS, LLC will be accounted for as equity transactions. As such, future redemptions or direct exchanges of common units of CWGS, LLC by the Continuing Equity Owners will result in a change in ownership and reduce or increase the amount recorded as non-controlling interest and increase or decrease additional paid-in capital when CWGS, LLC as positive or negative net assets, respectively. At December, 31, 2016, CWGS, LLC had negative net assets which resulted in a negative non-controlling interest amount on the Consolidated Balance Sheet.

The Company used the net proceeds from its IPO to purchase 11,872,200 newly-issued common units of CWGS, LLC. Additionally, in connection with the Reorganization Transactions, the Company acquired 7,063,716 common units of CWGS, LLC.

As of December 31, 2016, there were 83,771,830 LLC Interests outstanding, of which CWH owned 18,935,916 common units of CWGS, LLC, representing a 22.6% ownership interest in CWGS, LLC.

The following table summarizes the effects of changes in ownership in CWGS, LLC on the Company’s equity:

	Year Ended December 31,
($ in thousands)	2016		2015		2014
Net income attributable to Camping World Holdings, Inc.	$	191,661	$	178,530	$	123,626
Transfers to non-controlling interests:
Decrease in additional paid-in capital as a result of the Reorganization Transactions		(7,306)		—		—
Decrease in additional paid-in capital as a result of the purchase of common units from CWGS, LLC (1)		(144,178)		—		—
Change from net income attributable to Camping World Holdings, Inc. and transfers to non-controlling interests	$	40,177	$	178,530	$	123,626