Segment Information

12 Months Ended

Dec. 31, 2022

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, 2022
	Good Sam		RV and
	Services		Outdoor		Intersegment
($ in thousands)	and Plans		Retail		Eliminations		Total
Revenue:
Good Sam services and plans	$	192,622	$	—	$	(494)	$	192,128
New vehicles		—		3,234,016		(5,939)		3,228,077
Used vehicles		—		1,881,468		(3,867)		1,877,601
Products, service and other		—		1,000,170		(956)		999,214
Finance and insurance, net		—		641,087		(17,631)		623,456
Good Sam Club		—		46,537		—		46,537
Total consolidated revenue	$	192,622	$	6,803,278	$	(28,887)	$	6,967,013
	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,
($ in thousands)	2022		2021		2020
Segment income:(1)
Good Sam Services and Plans	$	90,857	$	74,765	$	88,288
RV and Outdoor Retail		528,564		798,846		429,950
Total segment income		619,421		873,611		518,238
Corporate & other		(12,619)		(9,679)		(9,751)
Depreciation and amortization		(80,304)		(66,418)		(51,981)
Other interest expense, net		(75,745)		(46,912)		(54,689)
Tax Receivable Agreement liability adjustment		114		(2,813)		141
Loss and expense on debt restructure		—		(13,468)		—
Other expense, net		(752)		(122)		—
Income before income taxes	$	450,115	$	734,199	$	401,958

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

	Year Ended December 31,
($ in thousands)	2022		2021		2020
Depreciation and amortization:
Good Sam Services and Plans	$	3,353	$	3,009	$	3,474
RV and Outdoor Retail		76,951		63,409		48,507
Total depreciation and amortization	$	80,304	$	66,418	$	51,981

	Year Ended December 31,
($ in thousands)	2022		2021		2020
Other interest expense, net:
Good Sam Services and Plans	$	57	$	(3)	$	5
RV and Outdoor Retail		14,802		7,759		8,081
Subtotal		14,859		7,756		8,086
Corporate & other		60,886		39,156		46,603
Total other interest expense, net	$	75,745	$	46,912	$	54,689

	As of December 31,
($ in thousands)	2022		2021
Assets:
Good Sam Services and Plans	$	130,841	$	158,988
RV and Outdoor Retail		4,448,354		3,849,217
Subtotal		4,579,195		4,008,205
Corporate & other		220,952		364,724
Total assets	$	4,800,147	$	4,372,929

	Year Ended December 31,
($ in thousands)	2022		2021		2020
Capital expenditures:
Good Sam Services and Plans	$	5,099	$	1,856	$	2,553
RV and Outdoor Retail		205,491		246,084		82,243
Subtotal		210,590		247,940		84,796
Corporate and other		2		(129)		127
Total capital expenditures	$	210,592	$	247,811	$	84,923