Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2020

The following table presents the Company’s revenues disaggregated by segment and geography based on the billing address of the Company’s customers for the years ended December 31:


			2020
(In thousands)	U.S. (a)		Int’l (b)		Total
OEM Segment:
RV OEMs:
Travel trailers and fifth-wheels	$	1,288,209	$	33,358	$	1,321,567
Motorhomes	100,950		57,146		158,096
Adjacent Industries OEMs	563,082		125,166		688,248
Total OEM Segment net sales	1,952,241		215,670		2,167,911
Aftermarket Segment:
Total Aftermarket Segment net sales	607,112		21,143		628,255
Total net sales	$	2,559,353	$	236,813	$	2,796,166


			2019
(In thousands)	U.S. (a)		Int’l (b)		Total
OEM Segment:
RV OEMs:
Travel trailers and fifth-wheels	$	1,264,404	$	12,314	$	1,276,718
Motorhomes	110,405		45,218		155,623
Adjacent Industries OEMs	587,521		72,039		659,560
Total OEM Segment net sales	1,962,330		129,571		2,091,901
Aftermarket Segment:
Total Aftermarket Segment net sales	263,382		16,199		279,581
Total net sales	$	2,225,712	$	145,770	$	2,371,482


			2018
(In thousands)	U.S. (a)		Int’l (b)		Total
OEM Segment:
RV OEMs:
Travel trailers and fifth-wheels	$	1,431,574	$	9,156	$	1,440,730
Motorhomes	143,488		43,809		187,297
Adjacent Industries OEMs	574,100		40,489		614,589
Total OEM Segment net sales	2,149,162		93,454		2,242,616
Aftermarket Segment:
Total Aftermarket Segment net sales	222,588		10,603		233,191
Total net sales	$	2,371,750	$	104,057	$	2,475,807

(a) Net sales to customers in the United States of America

(b) Net sales to customers domiciled in countries outside of the United States of America

Schedule of Net Sales by Geographic Areas

The following table presents the Company’s revenues disaggregated by segment and geography based on the billing address of the Company’s customers for the years ended December 31:


			2020
(In thousands)	U.S. (a)		Int’l (b)		Total
OEM Segment:
RV OEMs:
Travel trailers and fifth-wheels	$	1,288,209	$	33,358	$	1,321,567
Motorhomes	100,950		57,146		158,096
Adjacent Industries OEMs	563,082		125,166		688,248
Total OEM Segment net sales	1,952,241		215,670		2,167,911
Aftermarket Segment:
Total Aftermarket Segment net sales	607,112		21,143		628,255
Total net sales	$	2,559,353	$	236,813	$	2,796,166


			2019
(In thousands)	U.S. (a)		Int’l (b)		Total
OEM Segment:
RV OEMs:
Travel trailers and fifth-wheels	$	1,264,404	$	12,314	$	1,276,718
Motorhomes	110,405		45,218		155,623
Adjacent Industries OEMs	587,521		72,039		659,560
Total OEM Segment net sales	1,962,330		129,571		2,091,901
Aftermarket Segment:
Total Aftermarket Segment net sales	263,382		16,199		279,581
Total net sales	$	2,225,712	$	145,770	$	2,371,482


			2018
(In thousands)	U.S. (a)		Int’l (b)		Total
OEM Segment:
RV OEMs:
Travel trailers and fifth-wheels	$	1,431,574	$	9,156	$	1,440,730
Motorhomes	143,488		43,809		187,297
Adjacent Industries OEMs	574,100		40,489		614,589
Total OEM Segment net sales	2,149,162		93,454		2,242,616
Aftermarket Segment:
Total Aftermarket Segment net sales	222,588		10,603		233,191
Total net sales	$	2,371,750	$	104,057	$	2,475,807

(a) Net sales to customers in the United States of America

(b) Net sales to customers domiciled in countries outside of the United States of America

Schedule of Information Relating to Segments

Information relating to segments follows for the years ended December 31:


	Segments						Corporate
(In thousands)	OEM		Aftermarket		Subtotal		and Other		Total

2020
Net sales to external customers (a)	$	2,167,911	$	628,255	$	2,796,166	$	—	$	2,796,166
Operating profit (b)	156,092		66,842		222,934		—		222,934
Total assets (c)	1,559,953		615,425		2,175,378		122,653		2,298,031
Expenditures for long-lived assets (d)	284,109		15,150		299,259		—		299,259
Depreciation and amortization	74,088		23,892		97,980		—		97,980

2019
Net sales to external customers (a)	$	2,091,901	$	279,581	$	2,371,482	$	—	$	2,371,482
Operating profit (b)	165,290		34,920		200,210		—		200,210
Total assets (c)	1,167,899		595,688		1,763,587		99,008		1,862,595
Expenditures for long-lived assets (d)	166,331		302,857		469,188		—		469,188
Depreciation and amortization	66,807		8,551		75,358		—		75,358

2018
Net sales to external customers (a)	$	2,242,616	$	233,191	$	2,475,807	$	—	$	2,475,807
Operating profit (b)	167,459		31,329		198,788		—		198,788
Total assets (c)	1,034,254		129,776		1,164,030		79,863		1,243,893
Expenditures for long-lived assets (d)	247,895		20,544		268,439		—		268,439
Depreciation and amortization	63,447		4,079		67,526		—		67,526

(a) Thor Industries, Inc. (“Thor”), a customer of both segments, accounted for 21 percent, 27 percent, and 31 percent of the Company’s consolidated net sales for the years ended December 31, 2020, 2019, and 2018, respectively. Berkshire Hathaway Inc. (through its subsidiaries Forest River, Inc. and Clayton Homes, Inc.), a customer of both segments, accounted for 19 percent, 21 percent, and 23 percent of the Company’s consolidated net sales for the years ended December 31, 2020, 2019, and 2018, respectively. No other customer accounted for more than 10 percent of consolidated net sales in the years ended December 31, 2020, 2019, and 2018.

(b) Certain general and administrative expenses are allocated between the segments based upon net sales or operating profit, depending upon the nature of the expense.

(c) Segment assets include accounts receivable, inventories, fixed assets, goodwill and other intangible assets. Corporate and other assets include cash and cash equivalents, prepaid expenses and other current assets, deferred taxes, and other assets.

(d) Expenditures for long-lived assets include capital expenditures, as well as fixed assets, goodwill and other intangible assets purchased as part of the acquisition of businesses. The Company purchased $299.3 million, $395.6 million, and $150.9 million of long-lived assets, as part of the acquisitions of businesses in the years ended December 31, 2020, 2019, and 2018, respectively.

Schedule of Net Sales by Segment Product

Net sales by OEM Segment product were as follows for the years ended December 31:


(In thousands)	2020		2019		2018
OEM Segment:
Chassis, chassis parts, and slide-out mechanisms	$	815,706	$	796,434	$	908,065
Windows and doors	620,372		585,464		615,644
Furniture and mattresses	351,107		342,691		380,514
Axles and suspension solutions	145,989		129,471		122,897
Other	234,737		237,841		215,496
Total OEM Segment net sales	2,167,911		2,091,901		2,242,616
Total Aftermarket Segment net sales	628,255		279,581		233,191
Total net sales	$	2,796,166	$	2,371,482	$	2,475,807