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Segment Information

6 Months Ended

Jun. 30, 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 refinancing 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 June 30, 2020								Three Months Ended June 30, 2019
	Good Sam		RV and						Good Sam		RV and
	Services		Outdoor		Intersegment				Services and		Outdoor		Intersegment
($ in thousands)	and Plans		Retail		Eliminations		Total		Plans		Retail		Eliminations		Total
Revenue:
Good Sam services and plans	$	44,692	$	—	$	(173)	$	44,519	$	44,991	$	—	$	(297)	$	44,694
New vehicles		—		900,245		(2,070)		898,175		—		780,696		(1,826)		778,870
Used vehicles		—		275,699		(789)		274,910		—		246,531		(782)		245,749
Products, service and other		—		231,512		(340)		231,172		—		271,471		(7,045)		264,426
Finance and insurance, net		—		150,194		(2,876)		147,318		—		131,498		(3,273)		128,225
Good Sam Club		—		10,651		—		10,651		—		12,383		—		12,383
Total consolidated revenue	$	44,692	$	1,568,301	$	(6,248)	$	1,606,745	$	44,991	$	1,442,579	$	(13,223)	$	1,474,347

	Six Months Ended June 30, 2020								Six Months Ended June 30, 2019
	Good Sam		RV and						Good Sam		RV and
	Services		Outdoor		Intersegment				Services and		Outdoor		Intersegment
($ in thousands)	and Plans		Retail		Eliminations		Total		Plans		Retail		Eliminations		Total
Revenue:
Good Sam services and plans	$	93,384	$	—	$	(1,657)	$	91,727	$	93,289	$	—	$	(1,629)	$	91,660
New vehicles		—		1,398,641		(3,149)		1,395,492		—		1,311,445		(2,998)		1,308,447
Used vehicles		—		482,932		(1,357)		481,575		—		427,136		(1,379)		425,757
Products, service and other		—		404,524		(729)		403,795		—		481,669		(12,367)		469,302
Finance and insurance, net		—		244,642		(4,868)		239,774		—		225,778		(5,662)		220,116
Good Sam Club		—		21,655		—		21,655		—		23,834		—		23,834
Total consolidated revenue	$	93,384	$	2,552,394	$	(11,760)	$	2,634,018	$	93,289	$	2,469,862	$	(24,035)	$	2,539,116


	Three Months Ended				Six Months Ended
	June 30,		June 30,		June 30,		June 30,
($ in thousands)	2020		2019		2020		2019
Segment income:(1)
Good Sam Services and Plans	$	24,591	$	21,208	$	45,931	$	43,622
RV and Outdoor Retail		188,383		75,687		188,511		75,312
Total segment income		212,974		96,895		234,442		118,934
Corporate & other		(2,165)		(3,914)		(4,894)		(7,087)
Depreciation and amortization		(12,567)		(13,946)		(26,645)		(27,540)
Other interest expense, net		(14,547)		(18,211)		(29,205)		(35,854)
Tax Receivable Agreement liability adjustment		—		—		—		8,477
Segment income before income taxes	$	183,695	$	60,824	$	173,698	$	56,930

(1)

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


	Three Months Ended				Six Months Ended
	June 30,		June 30,		June 30,		June 30,
($ in thousands)	2020		2019		2020		2019
Depreciation and amortization:
Good Sam Services and Plans	$	768	$	836	$	1,524		1,688
RV and Outdoor Retail		11,799		13,110		25,121		25,852
Total depreciation and amortization	$	12,567	$	13,946	$	26,645	$	27,540


	Three Months Ended				Six Months Ended
	June 30,		June 30,		June 30,		June 30,
($ in thousands)	2020		2019		2020		2019
Other interest expense, net:
Good Sam Services and Plans	$	—	$	(1)	$	—	$	(1)
RV and Outdoor Retail		2,082		2,265		3,974		4,413
Subtotal		2,082		2,264		3,974		4,412
Corporate & other		12,465		15,947		25,231		31,442
Total other interest expense, net	$	14,547	$	18,211	$	29,205	$	35,854


	June 30,		December 31,
($ in thousands)	2020		2019
Assets:
Good Sam Services and Plans	$	143,917	$	138,360
RV and Outdoor Retail		2,914,659		3,047,652
Subtotal		3,058,576		3,186,012
Corporate & other		205,975		190,228
Total assets	$	3,264,551	$	3,376,240