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Segment Reporting
 12 Months Ended
Dec. 31, 2022
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 83 percent, 81 percent, and 78 percent of consolidated net sales for each of the years ended December 31, 2022, 2021, and 2020, 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 boats; buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; trains; manufactured homes; and modular housing. Approximately 61 percent, 63 percent, and 61 percent of the Company's OEM Segment net sales in 2022, 2021, and 2020, respectively, were of components for travel trailer and fifth-wheel RVs.

The Aftermarket Segment, which accounted for 17 percent, 19 percent, and 22 percent of consolidated net sales for each of the years ended December 31, 2022, 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, 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, tankless water heaters, 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 tables present 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:
2022
(In thousands)U.S. (a)Int'l (b)Total
OEM Segment:
RV OEMs:
Travel trailers and fifth-wheels$2,561,683 $55,902 $2,617,585 
Motorhomes238,613 100,484 339,097 
Adjacent Industries OEMs1,184,459 174,729 1,359,188 
Total OEM Segment net sales3,984,755 331,115 4,315,870 
Aftermarket Segment:
Total Aftermarket Segment net sales824,895 66,378 891,273 
Total net sales$4,809,650 $397,493 $5,207,143 
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 
(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 $408.8 million and $454.5 million as of December 31, 2022 and 2021, 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:
Segments
(In thousands)OEMAftermarketTotal
2022
Net sales to external customers (a)
$4,315,870 $891,273 $5,207,143 
Operating profit (b)
479,150 73,878 553,028 
Expenditures for long-lived assets (c)
173,732 33,245 206,977 
Depreciation and amortization99,419 29,793 129,212 
2021
Net sales to external customers (a)
$3,643,612 $829,085 $4,472,697 
Operating profit (b)
304,676 93,734 398,410 
Expenditures for long-lived assets (c)
208,297 166,824 375,121 
Depreciation and amortization83,723 28,597 112,320 
2020
Net sales to external customers (a)
$2,167,911 $628,255 $2,796,166 
Operating profit (b)
156,092 66,842 222,934 
Expenditures for long-lived assets (c)
284,109 15,150 299,259 
Depreciation and amortization74,088 23,892 97,980 
(a)     Thor Industries, Inc., a customer of both segments, accounted for 23 percent, 24 percent, and 22 percent of the Company's consolidated net sales for the years ended December 31, 2022, 2021, and 2020, respectively. Berkshire Hathaway Inc. (through its subsidiaries Forest River, Inc. and Clayton Homes, Inc.), a customer of both segments, accounted for 20 percent, 20 percent, and 19 percent of the Company's consolidated net sales for the years ended December 31, 2022, 2021, and 2020, respectively. No other customer accounted for more than 10 percent of consolidated net sales in the years ended December 31, 2022, 2021, and 2020. 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, 2022 and 2021.
(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)     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 $78.7 million, $271.9 million, and $230.4 million of long-lived assets, as part of the acquisitions of businesses in the years ended December 31, 2022, 2021, and 2020, respectively.

Net sales by OEM Segment product were as follows for the years ended December 31:
(In thousands)202220212020
OEM Segment:
Chassis, chassis parts, and slide-out mechanisms$1,563,168 $1,320,718 $815,706 
Windows and doors1,085,302 1,014,332 620,372 
Furniture and mattresses790,664 701,876 351,107 
Axles and suspension solutions306,843 248,144 145,989 
Other569,893 358,542 234,737 
Total OEM Segment net sales4,315,870 3,643,612 2,167,911 
Total Aftermarket Segment net sales891,273 829,085 628,255 
Total net sales$5,207,143 $4,472,697 $2,796,166