Segment Reporting

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Segment Reporting

SEGMENT REPORTING

The Company has two reportable segments; the recreational vehicle products segment (the "RV Segment") and the manufactured housing products segment (the "MH Segment"). Intersegment sales are insignificant.

The RV Segment, which accounted for 90 percent and 88 percent of consolidated net sales for the nine month periods ended September 30, 2014 and 2013, respectively, manufactures a variety of products used in the production of RVs, including:

● Steel chassis for towable RVs	● Chassis components
● Axles and suspension solutions for towable RVs	● Furniture and mattresses
● Slide-out mechanisms and solutions	● Entry, luggage, patio and ramp doors
● Thermoformed bath, kitchen and other products	● Electric and manual entry steps
● Windows	● Awnings and slide toppers
● Manual, electric and hydraulic stabilizer and     leveling systems	● Other accessories and electronic components

The Company also supplies certain of these products to the RV aftermarket, and to adjacent industries, including buses; trailers used to haul boats, livestock, equipment and other cargo; truck campers; and truck caps. Approximately 80 percent of the Company’s RV Segment net sales for the last twelve months were of products to original equipment manufacturers ("OEMs") of travel trailer and fifth-wheel RVs.

The MH Segment, which accounted for 10 percent and 12 percent of consolidated net sales for the nine month periods ended September 30, 2014 and 2013, respectively, manufactures a variety of products used in the production of manufactured homes, including:

●Vinyl and aluminum windows	●Steel chassis
●Thermoformed bath and kitchen products	●Steel chassis parts
●Steel and fiberglass entry doors	●Axles
●Aluminum and vinyl patio doors

The Company also supplies certain of these products to the manufactured housing aftermarket, and to adjacent industries, including modular housing and mobile office units. Certain of the Company’s MH Segment customers manufacture both manufactured homes and modular homes, and certain of the products manufactured by the Company are suitable for both types of homes. As a result, the Company is not always able to determine in which type of home its products are installed.

Decisions concerning the allocation of the Company's resources are made by the Company's key executives, with oversight by the Board of Directors. This group evaluates the performance of each segment based upon segment operating profit or loss, generally defined as income or loss before interest and income taxes. Decisions concerning the allocation of resources are also based on each segment’s utilization of assets. Management of debt is a corporate function. The accounting policies of the RV and MH Segments are the same as those described in Note 1 of the Notes to Consolidated Financial Statements of the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

Information relating to segments follows for the:
	Nine Months Ended   September 30,				Three Months Ended   September 30,
(In thousands)	2014		2013		2014		2013
Net sales:
RV Segment:
RV OEMs:
Travel trailers and fifth-wheels	$	645,655	$	567,087	$	198,239	$	174,637
Motorhomes	49,679		35,278		19,622		12,388
RV aftermarket	32,777		19,785		16,015		6,904
Adjacent industries	84,355		72,882		29,728		24,034
Total RV Segment net sales	812,466		695,032		263,604		217,963
MH Segment:
Manufactured housing OEMs	58,550		62,941		21,269		22,571
Manufactured housing aftermarket	10,849		10,377		3,677		3,138
Adjacent industries	19,566		22,279		5,721		7,179
Total MH Segment net sales	88,965		95,597		30,667		32,888
Total net sales	$	901,431	$	790,629	$	294,271	$	250,851

	Nine Months Ended   September 30,						Three Months Ended   September 30,
(In thousands)	2014			2013			2014		2013
Operating profit:
RV Segment	$	72,048		$	54,098		$	20,287	$	19,234
MH Segment	8,172			9,904			2,784		3,596
Total segment operating profit	80,220			64,002			23,071		22,830
Sale of extrusion assets	(1,954		)	—			—		—
Executive succession	—			(1,876		)	—		—
Total operating profit	$	78,266		$	62,126		$	23,071	$	22,830

Potential Future Changes to Reporting Segments

Over the past several years, largely due to the growth the Company has experienced in its RV Segment, the MH Segment is now a smaller part of the Company. Net sales to Manufactured Housing OEMs are 6 percent of consolidated net sales for the first nine months of 2014. In addition, the Company has recently increased its focus on the significant opportunities in the RV aftermarket, which is currently included in the RV Segment. We are currently evaluating the information provided to our Chief Operating Decision Maker ("CODM"), and in the near future, we expect to complete any changes to our reporting structures that will reflect how our CODM will assess the performance of our operating segments and make decisions about resource allocations which may result in changes to the operating segments we report.