XML 33 R21.htm IDEA: XBRL DOCUMENT
v3.21.1

Segment Reporting | 3 Months Ended
--- | ---
Mar. 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 82 percent and 81 percent of consolidated net sales for the three months ended March 31, 2021 and 2020, respectively, manufactures or distributes a broad array of engineered components for the leading OEMs in the recreation and transportation product markets, consisting primarily 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 62 percent of the Company’s OEM Segment net sales for the three months ended March 31, 2021 were of components for travel trailer and fifth-wheel RVs. The Aftermarket Segment, which accounted for 18 percent and 19 percent of consolidated net sales for the three months ended March 31, 2021 and 2020, 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. The Aftermarket Segment also includes biminis, covers, buoys, fenders to the marine industry, towing products, truck accessories, 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 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The following tables present the Company’s revenues disaggregated by segment and geography based on the billing address of the Company’s customers:
| Three Months Ended March 31, 2021 |  | Three Months Ended March 31, 2020
(In thousands) | U.S. (a) |  | Int’l (b) |  | Total |  | U.S. (a) |  | Int’l (b) |  | Total
OEM Segment: |  |  |  |  |  |  |  |  |  |  |
RV OEMs: |  |  |  |  |  |  |  |  |  |  |
Travel trailers and fifth-wheels | $ | 486,542 |  |  | $ | 16,474 |  |  | $ | 503,016 |  |  | $ | 303,682 |  |  | $ | 3,426 |  |  | $ | 307,108 |
Motorhomes | 39,417 |  |  | 23,176 |  |  | 62,593 |  |  | 26,914 |  |  | 11,173 |  |  | 38,087 |
Adjacent Industries OEMs | 211,682 |  |  | 38,959 |  |  | 250,641 |  |  | 146,601 |  |  | 40,561 |  |  | 187,162 |
Total OEM Segment net sales | 737,641 |  |  | 78,609 |  |  | 816,250 |  |  | 477,197 |  |  | 55,160 |  |  | 532,357 |
Aftermarket Segment: |  |  |  |  |  |  |  |  |  |  |
Total Aftermarket Segment net sales | 171,410 |  |  | 12,598 |  |  | 184,008 |  |  | 121,618 |  |  | 5,695 |  |  | 127,313 |
Total net sales | $ | 909,051 |  |  | $ | 91,207 |  |  | $ | 1,000,258 |  |  | $ | 598,815 |  |  | $ | 60,855 |  |  | $ | 659,670 |
(a) Net sales to customers in the United States of America (b) Net sales to customers in countries domiciled outside of the United States of America The following table presents the Company’s operating profit by segment:
| Three Months Ended March 31, |  |
(In thousands) | 2021 |  | 2020 |  |  |  |
Operating profit: |  |  |  |  |  |  |
OEM Segment | $ | 79,287 |  |  | $ | 43,189 |  |  |  |  |
Aftermarket Segment | 22,144 |  |  | 1,077 |  |  |  |  |
Total operating profit | $ | 101,431 |  |  | $ | 44,266 |  |  |  |  |
The following table presents the Company’s revenue disaggregated by product:
| Three Months Ended March 31, |  |
(In thousands) | 2021 |  | 2020 |  |  |  |
OEM Segment: |  |  |  |  |  |  |
Chassis, chassis parts, and slide-out mechanisms | $ | 287,061 |  |  | $ | 202,263 |  |  |  |  |
Windows and doors | 249,920 |  |  | 156,031 |  |  |  |  |
Furniture and mattresses | 155,244 |  |  | 87,180 |  |  |  |  |
Axles and suspension solutions | 55,122 |  |  | 35,136 |  |  |  |  |
Other | 68,903 |  |  | 51,747 |  |  |  |  |
Total OEM Segment net sales | 816,250 |  |  | 532,357 |  |  |  |  |
Total Aftermarket Segment net sales | 184,008 |  |  | 127,313 |  |  |  |  |
Total net sales | $ | 1,000,258 |  |  | $ | 659,670 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration