Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Significant Accounting Policies

Schedule of store locations

	Co-habited				Stand-alone
	RV and Outdoor		Stand-alone		Outdoor
	Retail locations		RV locations		Retail locations		Total
Store locations as of June 30, 2018		117		15		91		223
Opened		11		5		9		25
Closed		(6)		(4)		(11)		(21)
Converted		13		—		(13)		—
Store locations as of June 30, 2019		135		16		76		227

Schedule of restatements

	Three Months Ended June 30, 2018						Six Months Ended June 30, 2018
($ in thousands except per share amounts)	As Reported		Adjustment		As Corrected		As Reported		Adjustment		As Corrected
Revenue - Products, service and other	$	250,203	$	156	$	250,359	$	414,511	$	—	$	414,511
Revenue - Finance and insurance, net		124,060		(3,855)		120,205		215,909		(6,604)		209,305
Total revenue		1,445,176		(3,699)		1,441,477		2,506,742		(6,604)		2,500,138
Costs applicable to revenue - Good Sam services and plans(1)		17,641		20		17,661		38,064		57		38,121
Costs applicable to revenue - Products, service and other		147,980		86		148,066		243,868		—		243,868
Costs applicable to revenue - Good Sam Club(1)		3,191		(84)		3,107		5,493		(57)		5,436
Total costs applicable to revenue		1,029,012		22		1,029,034		1,785,802		—		1,785,802
Selling, general and administrative expenses		284,295		(1,200)		283,095		529,409		(1)		529,408
Total operating expenses		295,938		(1,200)		294,738		550,961		(1)		550,960
Income from operations		120,226		(2,521)		117,705		169,979		(6,603)		163,376
Other income (expense)		—		(2)		(2)		—		(2)		(2)
Income before income taxes		93,917		(2,523)		91,394		118,412		(6,605)		111,807
Income tax expense		(12,102)		(2,160)		(14,262)		(19,321)		(1,806)		(21,127)
Net income		81,815		(4,683)		77,132		99,091		(8,411)		90,680
Net income attributable to non-controlling interests		(53,784)		1,434		(52,350)		(67,879)		3,802		(64,077)
Net income attributable to Camping World Holdings, Inc.		28,031		(3,249)		24,782		31,212		(4,609)		26,603
Earnings per share of Class A common stock:
Basic	$	0.76	$	(0.09)	$	0.67	$	0.85	$	(0.13)	$	0.72
Diluted	$	0.72	$	(0.05)	$	0.67	$	0.81	$	(0.09)	$	0.72

(1) Amounts were combined and previously reported as costs applicable to revenue - consumer services and plans prior to reclassifications made for changes in segment reporting as disclosed in Note 17 – Segments Information.

The following table presents the effect of the error corrections on the condensed consolidated statement of cash flows for the period indicated:

	Six Months Ended June 30, 2018
($ in thousands except per share amounts)	As Reported		Adjustment		As Corrected
Net income	$	99,091	$	(8,411)	$	90,680
Deferred income taxes		2,959		1,806		4,765
Receivables and contracts in transit		(89,379)		3,050		(86,329)
Inventories		(30,441)		(5,266)		(35,707)
Prepaid expenses and other assets		(8,703)		5,266		(3,437)
Accounts payable and other accrued expenses		99,699		(2,257)		97,442
Deferred revenue and gains		6,322		2,040		8,362
Other		1,894		6,897		8,791
Net cash provided by operating activities		105,995		3,125		109,120
Purchases of property and equipment		(80,574)		(3,111)		(83,685)
Net cash used in investing activities		(241,477)		(3,111)		(244,588)