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Segment Information

3 Months Ended

Mar. 31, 2020

18. Segments Information

The Company has the following two reportable segments: (i) Good Sam Services and Plans, and (ii) RV and Outdoor Retail. Within the Good Sam Services and Plans segment, the Company primarily derives revenue from the sale of the following offerings: emergency roadside assistance plans; property and casualty insurance programs; travel assist programs; extended vehicle service contracts; vehicle financing and refinancing assistance; consumer shows and events; and consumer publications and directories. Within the RV and Outdoor Retail segment, the Company primarily derives revenue from the sale of new and used RVs; commissions on the finance and insurance contracts related to the sale of RVs; the sale of RV service and maintenance work; the sale of RV parts, accessories, and supplies; the sale of outdoor products, equipment, gear and supplies and the sale of Good Sam Club memberships and co-branded credit cards.

The reportable segments identified above are the business activities of the Company for which discrete financial information is available and for which operating results are regularly reviewed by the Company’s chief operating decision maker to allocate resources and assess performance. The Company’s chief operating decision maker is a group comprised of the Chief Executive Officer and the President. Segment revenue includes intersegment revenue. Segment income includes intersegment allocations for subsidiaries and shared resources.

Reportable segment revenue; segment income; floor plan interest expense; depreciation and amortization; other interest expense, net; and total assets are as follows:


	Three Months Ended March 31, 2020
	Good Sam		RV and
	Services		Outdoor		Intersegment
($ in thousands)	and Plans		Retail		Eliminations		Total
Revenue:
Good Sam services and plans	$	48,692	$	—	$	(1,484)	$	47,208
New vehicles		—		498,396		(1,079)		497,317
Used vehicles		—		207,233		(568)		206,665
Products, service and other		—		173,012		(389)		172,623
Finance and insurance, net		—		94,448		(1,992)		92,456
Good Sam Club		—		11,004		—		11,004
Total consolidated revenue	$	48,692	$	984,093	$	(5,512)	$	1,027,273

	Three Months Ended March 31, 2019
	Good Sam		RV and
	Services		Outdoor		Intersegment
($ in thousands)	and Plans		Retail		Eliminations		Total
Revenue:
Good Sam services and plans	$	48,298	$	—	$	(1,332)	$	46,966
New vehicles		—		530,749		(1,172)		529,577
Used vehicles		—		180,605		(597)		180,008
Products, service and other		—		210,198		(5,322)		204,876
Finance and insurance, net		—		94,280		(2,389)		91,891
Good Sam Club		—		11,451		—		11,451
Total consolidated revenue	$	48,298	$	1,027,283	$	(10,812)	$	1,064,769


	Three Months Ended
	March 31,		March 31,
($ in thousands)	2020		2019
Segment income (loss):⁽¹⁾
Good Sam Services and Plans	$	21,340	$	22,414
RV and Outdoor Retail		128		(375)
Total segment income		21,468		22,039
Corporate & other		(2,729)		(3,173)
Depreciation and amortization		(14,078)		(13,594)
Other interest expense, net		(14,658)		(17,643)
Tax Receivable Agreement liability adjustment		—		8,477
Segment loss before income taxes	$	(9,997)	$	(3,894)

(1)

Segment income (loss) is defined as income (loss) from operations before depreciation and amortization plus floor plan interest expense.


	Three Months Ended
	March 31,		March 31,
($ in thousands)	2020		2019
Depreciation and amortization:
Good Sam Services and Plans	$	756	$	852
RV and Outdoor Retail		13,322		12,742
Total depreciation and amortization	$	14,078	$	13,594


	Three Months Ended
	March 31,		March 31,
($ in thousands)	2020		2019
Other interest expense, net:
Good Sam Services and Plans	$	—	$	—
RV and Outdoor Retail		1,892		2,148
Subtotal		1,892		2,148
Corporate & other		12,766		15,495
Total other interest expense, net		14,658		17,643


	March 31,		December 31,
($ in thousands)	2020		2019
Assets:
Good Sam Services and Plans	$	102,087	$	138,360
RV and Outdoor Retail		3,113,225		3,047,652
Subtotal		3,215,312		3,186,012
Corporate & other		187,249		190,228
Total assets	$	3,402,561	$	3,376,240