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Segment Reporting | 12 Months Ended
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Dec. 31, 2017
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 92 percent, 92 percent and 93 percent of consolidated net sales for each of the years ended December 31, 2017, 2016 and 2015, respectively, manufactures or distributes a broad array of components for the leading OEMs of RVs and adjacent industries, including buses; trailers used to haul boats, livestock, equipment and other cargo; trucks; pontoon boats; trains; manufactured homes; and modular housing. Approximately 71 percent of the Company’s OEM Segment net sales in 2017 were of components for travel trailer and fifth-wheel RVs. The Aftermarket Segment, which accounted for 8 percent, 8 percent and 7 percent of consolidated net sales for each of the years ended December 31, 2017, 2016 and 2015, respectively, supplies components to the related aftermarket channels of the RV and adjacent industries, primarily to retail dealers, wholesale distributors and service centers. The Aftermarket Segment also includes 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. 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:
| Segments |  | Corporate |  |
(In thousands) | OEM |  | Aftermarket |  | Total |  | and Other |  | Total
2017 |  |  |  |  |  |  |  |  |
Net sales to external customers (a) | $ | 1,976,623 |  |  | $ | 171,147 |  |  | $ | 2,147,770 |  |  | $ | — |  |  | $ | 2,147,770 |
Operating profit (b) | 190,276 |  |  | 24,005 |  |  | 214,281 |  |  | — |  |  | 214,281 |
Total assets (c) | 785,926 |  |  | 76,309 |  |  | 862,235 |  |  | 83,623 |  |  | 945,858 |
Expenditures for long-lived assets (d) | 148,570 |  |  | 4,875 |  |  | 153,445 |  |  | — |  |  | 153,445 |
Depreciation and amortization | 50,751 |  |  | 3,662 |  |  | 54,413 |  |  | 314 |  |  | 54,727 |
| Segments |  | Corporate |  |
(In thousands) | OEM |  | Aftermarket |  | Total |  | and Other |  | Total
2016 |  |  |  |  |  |  |  |  |
Net sales to external customers (a) | $ | 1,548,091 |  |  | $ | 130,807 |  |  | $ | 1,678,898 |  |  | $ | — |  |  | $ | 1,678,898 |
Operating profit (loss) (b) | 180,850 |  |  | 20,000 |  |  | 200,850 |  |  | — |  |  | 200,850 |
Total assets (c) | 569,385 |  |  | 65,211 |  |  | 634,596 |  |  | 152,308 |  |  | 786,904 |
Expenditures for long-lived assets (d) | 80,588 |  |  | 6,014 |  |  | 86,602 |  |  | — |  |  | 86,602 |
Depreciation and amortization | 42,593 |  |  | 3,298 |  |  | 45,891 |  |  | 276 |  |  | 46,167 |
2015 |  |  |  |  |  |  |  |  |
Net sales to external customers (a) | $ | 1,300,060 |  |  | $ | 103,006 |  |  | $ | 1,403,066 |  |  | $ | — |  |  | $ | 1,403,066 |
Operating profit (loss) (b) | 105,224 |  |  | 14,746 |  |  | 119,970 |  |  | (3,716 | ) |  | 116,254 |
Total assets (c) | 500,734 |  |  | 56,683 |  |  | 557,417 |  |  | 65,439 |  |  | 622,856 |
Expenditures for long-lived assets (d) | 65,492 |  |  | 2,095 |  |  | 67,587 |  |  | — |  |  | 67,587 |
Depreciation and amortization | 38,583 |  |  | 2,898 |  |  | 41,481 |  |  | 143 |  |  | 41,624 |
(a) | Thor Industries, Inc. (“Thor”), a customer of both segments, accounted for 38 percent, 37 percent and 28 percent of the Company’s consolidated net sales for the years ended December 31, 2017, 2016 and 2015, respectively. Berkshire Hathaway Inc. (through its subsidiaries Forest River, Inc. and Clayton Homes, Inc.), a customer of both segments, accounted for 25 percent, 26 percent and 26 percent of the Company’s consolidated net sales for the years ended December 31, 2017, 2016 and 2015, respectively. Jayco, Inc., a customer of both segments, accounted for 10 percent of the Company’s consolidated net sales for the year ended December 31, 2015, this customer was subsequently acquired by Thor and is included in the Thor’s 2017 and 2016 percentages above. No other customer accounted for more than 10 percent of consolidated net sales in the years ended December 31, 2017, 2016 and 2015. International sales, primarily in Europe and Australia, and export sales represented approximately 4 percent, 2 percent and 1 percent of consolidated net sales in 2017, 2016 and 2015, respectively.
(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 $65.0 million, $42.0 million and $38.6 million of long-lived assets, as part of the acquisitions of businesses in the years ended December 31, 2017, 2016 and 2015, respectively.
Net sales by OEM Segment product were as follows for the years ended December 31:
(In thousands) | 2017 |  | 2016 |  | 2015
OEM Segment: |  |  |  |  |
Chassis, chassis parts and slide-out mechanisms | $ | 914,397 |  |  | $ | 743,160 |  |  | $ | 664,542 |
Windows and doors | 424,625 |  |  | 335,717 |  |  | 301,171 |
Furniture and mattresses | 342,680 |  |  | 245,596 |  |  | 161,840 |
Axles and suspension solutions | 123,513 |  |  | 115,538 |  |  | 108,464 |
Other | 171,408 |  |  | 108,080 |  |  | 64,043 |
Total OEM Segment net sales | 1,976,623 |  |  | 1,548,091 |  |  | 1,300,060 |
Total Aftermarket Segment net sales | 171,147 |  |  | 130,807 |  |  | 103,006 |
Total net sales | $ | 2,147,770 |  |  | $ | 1,678,898 |  |  | $ | 1,403,066 |
The composition of net sales was as follows for the years ended December 31:
(In thousands) | 2017 |  | 2016 |  | 2015
Net sales: |  |  |  |  |
OEM Segment: |  |  |  |  |
RV OEMs: |  |  |  |  |
Travel trailers and fifth-wheels | $ | 1,405,983 |  |  | $ | 1,099,882 |  |  | $ | 938,787 |
Motorhomes | 159,417 |  |  | 116,191 |  |  | 86,513 |
Adjacent industries OEMs | 411,223 |  |  | 332,018 |  |  | 274,760 |
Total OEM Segment net sales | 1,976,623 |  |  | 1,548,091 |  |  | 1,300,060 |
Aftermarket Segment: |  |  |  |  |
Total Aftermarket Segment net sales | 171,147 |  |  | 130,807 |  |  | 103,006 |
Total net sales | $ | 2,147,770 |  |  | $ | 1,678,898 |  |  | $ | 1,403,066 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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