Non-Controlling Interests

9 Months Ended

Sep. 30, 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, consolidates 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 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 September 30, 2017 and December 31, 2016, CWGS, LLC had positive and negative net assets, respectively, which resulted in positive and negative non-controlling interest amounts, respectively, on the Unaudited Condensed Consolidated Balance Sheets.

As of September 30, 2017 and December 31, 2016, there were 88,536,365 and 83,771,830 common units of CWGS, LLC outstanding, respectively, of which CWH owned 30,227,061 and 18,935,916 common units of CWGS, LLC, respectively, representing 34.1% and 22.6% ownership interests in CWGS, LLC, respectively, and the Continuing Equity Owners owned 58,309,304 and 64,835,914 common units of CWGS, LLC, respectively, representing 65.9% and 77.4% ownership interests in CWGS, LLC, respectively.

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
($ in thousands)	2017		2016		2017		2016
Net income attributable to Camping World Holdings, Inc.	$	19,589	$	68,247	$	46,455	$	189,531
Transfers to non-controlling interests:
Decrease in additional paid-in capital as a result of the purchase of common units from CWGS, LLC		—		—		(87,203)		—
Decrease in additional paid-in capital as a result of the contribution of Class A common stock to CWGS, LLC for an acquisition by a subsidiary		(3,678)		—		(3,678)		—
Decrease in additional paid-in capital as a result of the vesting of restricted stock units		—		—		—		—
Increase in additional paid-in capital as a result of the redemption of common units of CWGS, LLC		13,891		—		67,471		—
Change from net income attributable to Camping World Holdings, Inc. and transfers to non-controlling interests	$	29,802	$	68,247	$	23,045	$	189,531