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Non-Controlling Interests
 12 Months Ended
Dec. 31, 2017
Non-Controlling Interests  
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 has positive or negative net assets, respectively. At December 31, 2017 and 2016, CWGS, LLC had positive and negative net assets, respectively, which resulted in positive and negative non-controlling interest amounts, respectively, on the Consolidated Balance Sheets.

As of December 31, 2017 and December 31, 2016, there were 88,639,567 and 83,771,830 common units of CWGS, LLC interests outstanding, respectively, of which CWH owned 36,749,072 and 18,935,916 common units of CWGS, LLC, respectively, representing 41.5% and 22.6% ownership interest in CWGS, LLC., respectively, and the Continuing Equity Owners owned 51,890,495 and 64,835,914 common units of CWGS, LLC, respectively, representing 58.5% 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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

($ in thousands)

   

2017

   

2016

   

2015

   

 

 

 

 

Restated

 

 

 

Net income (loss) attributable to Camping World Holdings, Inc.

 

$

28,362

 

$

191,117

 

$

174,293

 

Transfers to non-controlling interests:

 

 

 

 

 

 

 

 

 

 

Decrease in additional paid-in capital as a result of the Reorganization Transactions

 

 

 —

 

 

(21,887)

 

 

 —

 

Decrease in additional paid-in capital as a result of the purchase of common units from CWGS, LLC with proceeds from a public offering

 

 

(87,203)

 

 

(234,486)

 

 

 —

 

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)

 

 

 —

 

 

 —

 

Decrease in additional paid-in capital as a result of the purchase of common units from CWGS, LLC with proceeds from the exercise of stock options

 

 

(970)

 

 

 —

 

 

 —

 

Increase in additional paid-in capital as a result of the vesting of restricted stock units

 

 

257

 

 

 —

 

 

 —

 

Increase in additional paid-in capital as a result of the redemption of common units of CWGS, LLC

 

 

175,487

 

 

 —

 

 

 —

 

Change from net income (loss) attributable to Camping World Holdings, Inc. and transfers to non-controlling interests

 

$

112,255

 

$

(65,256)

 

$

174,293