Segment Information

12 Months Ended

Dec. 31, 2021

Segment Information

Segment 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, 2021
	Good Sam		RV and
	Services		Outdoor		Intersegment
($ in thousands)	and Plans		Retail		Eliminations		Total
Revenue:
Good Sam services and plans	$	180,926	$	—	$	(204)	$	180,722
New vehicles		—		3,306,002		(6,548)		3,299,454
Used vehicles		—		1,689,855		(3,638)		1,686,217
Products, service and other		—		1,102,407		(1,465)		1,100,942
Finance and insurance, net		—		613,086		(14,611)		598,475
Good Sam Club		—		47,944		—		47,944
Total consolidated revenue	$	180,926	$	6,759,294	$	(26,466)	$	6,913,754
	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,
($ in thousands)	2021		2020		2019
Segment income:(1)
Good Sam Services and Plans	$	74,765	$	88,288	$	83,635
RV and Outdoor Retail		798,846		429,950		(42,609)
Total segment income		873,611		518,238		41,026
Corporate & other		(9,679)		(9,751)		(12,455)
Depreciation and amortization		(66,418)		(51,981)		(59,932)
Other interest expense, net		(46,912)		(54,689)		(69,363)
Tax Receivable Agreement liability adjustment		(2,813)		141		10,005
Loss and expense on debt restructure		(13,468)		—		—
Other expense, net		(122)		—		—
Income (loss) before income taxes	$	734,199	$	401,958	$	(90,719)

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

	Year Ended December 31,
($ in thousands)	2021		2020		2019
Depreciation and amortization:
Good Sam Services and Plans	$	3,009	$	3,474	$	4,304
RV and Outdoor Retail		63,409		48,507		55,628
Total depreciation and amortization	$	66,418	$	51,981	$	59,932

	Year Ended December 31,
($ in thousands)	2021		2020		2019
Other interest expense, net:
Good Sam Services and Plans	$	(3)	$	5	$	(1)
RV and Outdoor Retail		7,759		8,081		8,941
Subtotal		7,756		8,086		8,940
Corporate & other		39,156		46,603		60,423
Total other interest expense, net	$	46,912	$	54,689	$	69,363

	As of December 31,
($ in thousands)	2021		2020
Assets:
Good Sam Services and Plans	$	158,988	$	140,825
RV and Outdoor Retail		3,849,217		2,881,637
Subtotal		4,008,205		3,022,462
Corporate & other		364,724		233,969
Total assets	$	4,372,929	$	3,256,431

	Year Ended December 31,
($ in thousands)	2021		2020		2019
Capital expenditures:
Good Sam Services and Plans	$	1,856	$	2,553	$	2,952
RV and Outdoor Retail		246,084		82,243		85,405
Subtotal		247,940		84,796		88,357
Corporate and other		(129)		127		(1)
Total capital expenditures	$	247,811	$	84,923	$	88,356