Non-Controlling Interests

3 Months Ended

Mar. 31, 2017

Non-Controlling Interests

Non-Controlling Interests

14. Non-Controlling Interests

In connection with the Reorganization Transactions, described in Note 13 — 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 has positive or negative net assets, respectively. At March 31, 2017 and December, 31, 2016, CWGS, LLC had negative net assets which resulted in negative non-controlling interest amounts on the Unaudited Condensed Consolidated Balance Sheets.

As of March 31, 2017 and December 31, 2016, there were 83,771,914 and 83,771,830 common units of CWGS, LLC outstanding, respectively, of which CWH owned 18,946,000 and 18,935,916 common units of CWGS, LLC, respectively, representing a 22.6% ownership interest in CWGS, LLC and the Continuing Equity Owners owned 64,825,914 and 64,835,914 common units of CWGS, LLC, respectively, representing a 77.4% ownership interest in CWGS, LLC.

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

	Three Months Ended
	March 31,
($ in thousands)	2017		2016
Net income attributable to Camping World Holdings, Inc.	$	7,453	$	37,780
Transfers to non-controlling interests:
Increase in additional paid-in capital as a result of the redemption of common units of CWGS, LLC		115		—
Change from net income attributable to Camping World Holdings, Inc. and transfers to non-controlling interests	$	7,568	$	37,780