Inventories and Floor Plan Payables (Tables)

12 Months Ended

Dec. 31, 2024

Inventory

Schedule of inventories

Inventories consisted of the following at December 31, 2024 and 2023 (in thousands):

	December 31,		December 31,
	2024		2023
Good Sam services and plans	$	263	$	452
New RVs		1,241,533		1,378,403
Used RVs		413,546		464,833
Products, parts, accessories and other		166,495		199,261
	$	1,821,837	$	2,042,949

Floor Plan Facility

Inventory

Schedule of outstanding amounts and available borrowing

The following table details the outstanding amounts and available borrowings under the Floor Plan Facility as of December 31, 2024 and December 31, 2023 (in thousands):

	December 31,		December 31,
	2024		2023
Floor Plan Facility:
Notes payable — floor plan:
Total commitment	$	1,850,000	$	1,850,000
Less: borrowings, net of FLAIR offset account		(1,161,713)		(1,371,145)
Less: FLAIR offset account(1)		(79,472)		(145,047)
Additional borrowing capacity		608,815		333,808
Less: short-term payable for sold inventory(2)		(33,152)		(41,577)
Less: purchase commitments(3)		(9,340)		(27,420)
Unencumbered borrowing capacity	$	566,323	$	264,811
Revolving line of credit	$	70,000	$	70,000
Less: borrowings		-		(20,885)
Additional borrowing capacity	$	70,000	$	49,115
Letters of credit:
Total commitment	$	30,000	$	30,000
Less: outstanding letters of credit		(14,300)		(12,300)
Additional letters of credit capacity	$	15,700	$	17,700

(1) Flooring line aggregate interest reduction (“FLAIR”) offset account that allows the Company to transfer cash to the Floor Plan Lenders as offset to the payables under the Floor Plan Facility. The FLAIR offset account does not reduce the outstanding amount of loans under the Floor Plan Facility for purposes of determining the unencumbered borrowing capacity under the Floor Plan Facility.

(2) The short-term payable represents the amount due for sold inventory. A payment for any floor plan units sold is due within three to ten business days of sale. Due to the short term nature of these payables, the Company reclassifies the amounts from notes payable‒floor plan, net to accounts payable in the Consolidated Balance Sheets. Changes in the vehicle floor plan payable are reported as cash flows from financing activities in the Consolidated Statements of Cash Flows.

(3) Purchase commitments represent vehicles approved for floor plan financing where the inventory has not yet been received by the Company from the supplier and no floor plan borrowing is outstanding.

Schedule of outstanding supplier finance program obligations

The following table rolls forward the Company's outstanding supplier finance program obligations confirmed as valid under its Floor Plan Facility for the year ended December 31, 2024 (in thousands):

	Year Ended
	December 31, 2024
Notes payable - floor plan, net, beginning of year	$	1,371,145
Add: FLAIR offset account, beginning of year		145,047
Add: short-term payable for sold inventory, beginning of year		41,577
Confirmed obligations outstanding, beginning of year		1,557,769
Add: new obligations confirmed during the period		2,292,615
Less: confirmed obligations paid during the period		(2,576,047)
Confirmed obligations outstanding, end of period		1,274,337
Less: FLAIR offset account, end of period		(79,472)
Less: short-term payable for sold inventory, end of period		(33,152)
Notes payable - floor plan, net, end of period	$	1,161,713