XML 52 R38.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Segment Reporting (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Segment Reporting [Abstract] |
Schedule of Net Sales by Product | 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 |
Motorhomes | 160,615 |  |  | 98,380 |  |  | 258,995 |
Adjacent Industries OEMs | 939,067 |  |  | 149,938 |  |  | 1,089,005 |
Total OEM Segment net sales | 3,329,521 |  |  | 314,091 |  |  | 3,643,612 |
Aftermarket Segment: |  |  |  |  |
Total Aftermarket Segment net sales | 768,793 |  |  | 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 |
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 |
(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:
|  |  | 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 |
Motorhomes | 160,615 |  |  | 98,380 |  |  | 258,995 |
Adjacent Industries OEMs | 939,067 |  |  | 149,938 |  |  | 1,089,005 |
Total OEM Segment net sales | 3,329,521 |  |  | 314,091 |  |  | 3,643,612 |
Aftermarket Segment: |  |  |  |  |
Total Aftermarket Segment net sales | 768,793 |  |  | 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 |
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 |
(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
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 amortization | 83,723 |  |  | 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 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 |
(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.
Schedule of Net Sales by Segment Product | Net sales by OEM Segment product were as follows for the years ended December 31:
(In thousands) | 2021 |  | 2020 |  | 2019
OEM Segment: |  |  |  |  |
Chassis, chassis parts, and slide-out mechanisms | $ | 1,320,718 |  |  | $ | 815,706 |  |  | $ | 796,434 |
Windows and doors | 1,014,332 |  |  | 620,372 |  |  | 585,464 |
Furniture and mattresses | 701,876 |  |  | 351,107 |  |  | 342,691 |
Axles and suspension solutions | 248,144 |  |  | 145,989 |  |  | 129,471 |
Other | 358,542 |  |  | 234,737 |  |  | 237,841 |
Total OEM Segment net sales | 3,643,612 |  |  | 2,167,911 |  |  | 2,091,901 |
Total Aftermarket Segment net sales | 829,085 |  |  | 628,255 |  |  | 279,581 |
Total net sales | $ | 4,472,697 |  |  | $ | 2,796,166 |  |  | $ | 2,371,482 |

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph a -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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