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Segment Reporting
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING
The Company has two reportable segments, the OEM Segment and the Aftermarket Segment. Intersegment sales are insignificant.

The OEM Segment, which accounted for 81 percent, 78 percent, and 88 percent of consolidated net sales for each of the years ended December 31, 2021, 2020, and 2019, respectively, manufactures and distributes a broad array of engineered components for the leading OEMs in the recreation and industrial product markets, consisting of RVs and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; boats; trains; manufactured homes; and modular housing. Approximately 63 percent, 61 percent, and 61 percent of the Company's OEM Segment net sales in 2021, 2020, and 2019, respectively, were of components for travel trailer and fifth-wheel RVs.

The Aftermarket Segment, which accounted for 19 percent, 22 percent, and 12 percent of consolidated net sales for each of the years ended December 31, 2021, 2020, and 2019, respectively, supplies engineered components to the related aftermarket channels of the recreation and transportation product markets, primarily to retail dealers, wholesale distributors, and service centers, as well as direct to retail customers via the Internet. The Aftermarket Segment also includes biminis, covers, buoys, fenders to the marine industry, towing products, truck accessories, appliances, air conditioners, televisions, sound systems, and the sale of replacement glass and awnings to fulfill insurance claims.

Decisions concerning the allocation of the Company's resources are made by the Company's Chief Operating Decision Maker ("CODM"), with oversight by the Board of Directors. The CODM 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 OEM and Aftermarket Segments are the same as those described in Note 2 of the Notes to Consolidated Financial Statements.
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:
2021
(In thousands)U.S. (a)Int'l (b)Total
OEM Segment:
RV OEMs:
Travel trailers and fifth-wheels$2,229,839 $65,773 $2,295,612 
Motorhomes160,615 98,380 258,995 
Adjacent Industries OEMs939,067 149,938 1,089,005 
Total OEM Segment net sales3,329,521 314,091 3,643,612 
Aftermarket Segment:
Total Aftermarket Segment net sales768,793 60,292 829,085 
Total net sales$4,098,314 $374,383 $4,472,697 
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 
Motorhomes100,950 57,146 158,096
Adjacent Industries OEMs563,082 125,166 688,248
Total OEM Segment net sales1,952,241 215,670 2,167,911 
Aftermarket Segment:
Total Aftermarket Segment net sales607,112 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 
Motorhomes110,405 45,218 155,623
Adjacent Industries OEMs587,521 72,039 659,560
Total OEM Segment net sales1,962,330 129,571 2,091,901 
Aftermarket Segment:
Total Aftermarket Segment net sales263,382 16,199 279,581 
Total net sales$2,225,712 $145,770 $2,371,482 
(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

Long-lived assets, including net fixed assets, operating lease right-of-use assets, goodwill, and other net intangible assets, domiciled in countries outside of the United States of America were $454.5 million and $306.8 million as of December 31, 2021 and 2020, respectively.
Corporate expenses are allocated between the segments based upon net sales. Accretion related to contingent consideration and other non-segment items are included in the segment to which they relate. Information relating to segments follows for the years ended December 31:
SegmentsCorporate
(In thousands)OEMAftermarketSubtotaland OtherTotal
2021
Net sales to external customers (a)
$3,643,612 $829,085 $4,472,697 $— $4,472,697 
Operating profit (b)
304,676 93,734 398,410 — 398,410 
Total assets (c)
2,289,746 835,988 3,125,734 162,360 3,288,094 
Expenditures for long-lived assets (d)
208,297 166,824 375,121 — 375,121 
Depreciation and amortization83,723 28,597 112,320 — 112,320 
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 amortization74,088 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 amortization66,807 8,551 75,358 — 75,358 

(a)     Thor Industries, Inc., a customer of both segments, accounted for 23 percent, 21 percent, and 27 percent of the Company's consolidated net sales for the years ended December 31, 2021, 2020, and 2019, respectively. Berkshire Hathaway Inc. (through its subsidiaries Forest River, Inc. and Clayton Homes, Inc.), a customer of both segments, accounted for 20 percent, 19 percent, and 21 percent of the Company's consolidated net sales for the years ended December 31, 2021, 2020, and 2019, respectively. No other customer accounted for more than 10 percent of consolidated net sales in the years ended December 31, 2021, 2020, and 2019. Accounts receivable from Berkshire Hathaway Inc. accounted for 14 percent of consolidated accounts receivable, net at December 31, 2021. No other customer accounted for more than 10 percent of consolidated accounts receivable, net at December 31, 2021 and 2020.
(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 $271.9 million, $230.4 million, and $395.6 million of long-lived assets, as part of the acquisitions of businesses in the years ended December 31, 2021, 2020, and 2019, respectively.
Net sales by OEM Segment product were as follows for the years ended December 31:
(In thousands)202120202019
OEM Segment:
Chassis, chassis parts, and slide-out mechanisms$1,320,718 $815,706 $796,434 
Windows and doors1,014,332 620,372 585,464 
Furniture and mattresses701,876 351,107 342,691 
Axles and suspension solutions248,144 145,989 129,471 
Other358,542 234,737 237,841 
Total OEM Segment net sales3,643,612 2,167,911 2,091,901 
Total Aftermarket Segment net sales829,085 628,255 279,581 
Total net sales$4,472,697 $2,796,166 $2,371,482