Non-Controlling Interests

9 Months Ended

Sep. 30, 2019

Non-Controlling Interests

Non-Controlling Interests

15. Non-Controlling Interests

As described in Note 14 — Stockholders’ Equity, CWH is 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 the amount recorded as non-controlling interest and increase additional paid-in capital.

As of September 30, 2019 and December 31, 2018, there were 89,046,288 and 88,867,373 common units of CWGS, LLC outstanding, respectively, of which CWH owned 37,377,004 and 37,192,364 common units of CWGS, LLC, respectively, representing 42.0% and 41.9% ownership interests in CWGS, LLC, respectively, and the Continuing Equity Owners owned 51,669,284 and 51,675,009 common units of CWGS, LLC, respectively, representing 58.0% and 58.1% 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)	2019		2018		2019		2018
Net income (loss) attributable to Camping World Holdings, Inc.	$	(30,692)	$	14,123	$	(32,070)	$	40,726
Transfers to non-controlling interests:
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		—		(4)		—		(86)
Increase in additional paid-in capital as a result of the vesting of restricted stock units		300		44		443		73
Decrease in additional paid-in capital as a result of repurchases of Class A common stock for withholding taxes on vested RSUs		(547)		(62)		(820)		(62)
Increase in additional paid-in capital as a result of the redemption of common units of CWGS, LLC		—		223		12		2,071
Change from net income attributable to Camping World Holdings, Inc. and transfers to non-controlling interests	$	(30,939)	$	14,324	$	(32,435)	$	42,722