Segment Information

12 Months Ended

Dec. 31, 2020

Segment Information

Segments Information

22. Segment Information

The Company has the following two reportable segments: (i) Good Sam Services and Plans, and (ii) RV and Outdoor Retail (see Note 1 – Summary of Significant Accounting Policies – Description of the Business for a discussion of the primary revenue generating activities of each segment).

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, total assets, and capital expenditures are as follows:

	Year Ended December 31, 2020
	Good Sam		RV and
	Services		Outdoor		Intersegment
($ in thousands)	and Plans		Retail		Eliminations		Total
Revenue:
Good Sam services and plans	$	182,758	$	—	$	(1,781)	$	180,977
New vehicles		—		2,829,296		(5,985)		2,823,311
Used vehicles		—		987,389		(2,536)		984,853
Products, service and other		—		950,247		(1,357)		948,890
Finance and insurance, net		—		474,196		(9,935)		464,261
Good Sam Club		—		44,299		—		44,299
Total consolidated revenue	$	182,758	$	5,285,427	$	(21,594)	$	5,446,591
	Year Ended December 31, 2019
	Good Sam		RV and
	Services		Outdoor		Intersegment
($ in thousands)	and Plans		Retail		Eliminations		Total
Revenue:
Good Sam services and plans	$	181,526	$	—	$	(1,988)	$	179,538
New vehicles		—		2,375,477		(5,156)		2,370,321
Used vehicles		—		860,032		(2,404)		857,628
Products, service and other		—		1,036,439		(1,862)		1,034,577
Finance and insurance, net		—		411,035		(9,733)		401,302
Good Sam Club		—		48,653		—		48,653
Total consolidated revenue	$	181,526	$	4,731,636	$	(21,143)	$	4,892,019
	Year Ended December 31, 2018
	Good Sam		RV and
	Services		Outdoor		Intersegment
($ in thousands)	and Plans		Retail		Eliminations		Total
Revenue:
Good Sam services and plans	$	174,641	$	—	$	(1,981)	$	172,660
New vehicles		—		2,517,978		(5,124)		2,512,854
Used vehicles		—		734,108		(2,091)		732,017
Products, service and other		—		951,814		(2,431)		949,383
Finance and insurance, net		—		394,214		(10,503)		383,711
Good Sam Club		—		41,392		—		41,392
Total consolidated revenue	$	174,641	$	4,639,506	$	(22,130)	$	4,792,017

	Year Ended December 31,
($ in thousands)	2020		2019		2018
Segment income (loss):(1)
Good Sam Services and Plans	$	88,288	$	83,635	$	81,138
RV and Outdoor Retail		429,950		(42,609)		138,085
Total segment income		518,238		41,026		219,223
Corporate & other		(9,751)		(12,455)		(6,821)
Depreciation and amortization		(51,981)		(59,932)		(49,322)
Other interest expense, net		(54,689)		(69,363)		(63,329)
Tax Receivable Agreement liability adjustment		141		10,005		(1,324)
Loss and expense on debt restructure		—		—		(2,056)
Income (loss) before income taxes	$	401,958	$	(90,719)	$	96,371

(1) Segment income is defined as income from operations before depreciation and amortization plus floor plan interest expense. The Company has recast certain prior period amounts to conform to the two segments presented in 2019.

	Year Ended December 31,
($ in thousands)	2020		2019		2018
Depreciation and amortization:
Good Sam Services and Plans	$	3,474	$	4,304	$	3,328
RV and Outdoor Retail		48,507		55,628		45,406
Subtotal		51,981		59,932		48,734
Corporate & other		—		—		588
Total depreciation and amortization	$	51,981	$	59,932	$	49,322

	Year Ended December 31,
($ in thousands)	2020		2019		2018
Other interest expense, net:
Good Sam Services and Plans	$	5	$	(1)	$	4
RV and Outdoor Retail		8,081		8,941		8,073
Subtotal		8,086		8,940		8,077
Corporate & other		46,603		60,423		55,252
Total other interest expense, net	$	54,689	$	69,363	$	63,329

	As of December 31,
($ in thousands)	2020		2019		2018
Assets:
Good Sam Services and Plans	$	140,825	$	138,360	$	146,012
RV and Outdoor Retail		2,881,637		3,047,652		2,467,519
Subtotal		3,022,462		3,186,012		2,613,531
Corporate & other		233,969		190,228		193,156
Total assets	$	3,256,431	$	3,376,240	$	2,806,687

	Year Ended December 31,
($ in thousands)	2020		2019		2018
Capital expenditures:
Good Sam Services and Plans	$	2,553	$	2,952	$	2,477
RV and Outdoor Retail		82,243		85,405		251,882
Subtotal		84,796		88,357		254,359
Corporate and other		127		(1)		—
Total capital expenditures	$	84,923	$	88,356	$	254,359