XML 25 R12.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Acquisitions, Goodwill And Other Intangible Assets | 3 Months Ended
--- | ---
Mar. 31, 2024
Acquisitions, Goodwill And Other Intangible Assets [Abstract] |
Acquisitions, Goodwill And Other Intangible Assets | ACQUISITIONS, GOODWILL AND OTHER INTANGIBLE ASSETS Subsequent Event Camping World Furniture In May 2024, the Company acquired the business and certain assets of the furniture operations of CWDS, LLC, a subsidiary of Camping World Holdings, Inc., in exchange for cash consideration of $20 million. The acquisition, which qualifies as a business combination for accounting purposes, expands the Company's furniture portfolio and will serve customers in both the OEM and Aftermarket segments. Goodwill Changes in the carrying amount of goodwill by reportable segment were as follows:
(In thousands) | OEM Segment |  | Aftermarket Segment |  | Total
Net balance – December 31, 2023 | $ | 421,701 |  |  | $ | 167,849 |  |  | $ | 589,550 |
Foreign currency translation | (1,575) |  |  | (184) |  |  | (1,759) |
Net balance – March 31, 2024 | $ | 420,126 |  |  | $ | 167,665 |  |  | $ | 587,791 |
Goodwill represents the excess of the total consideration given in an acquisition of a business over the fair value of the net tangible and identifiable intangible assets acquired. Goodwill is not amortized, but instead is tested at the reporting unit level for impairment annually in November, or more frequently if certain circumstances indicate a possible impairment may exist. Other Intangible Assets Other intangible assets consisted of the following at March 31, 2024:
(In thousands) | Gross Cost |  | Accumulated Amortization |  | Net Balance |  | Estimated Useful Life in Years
Customer relationships | $ | 508,140 |  |  | $ | 199,501 |  |  | $ | 308,639 |  |  | 6 | to | 20
Patents | 114,459 |  |  | 69,815 |  |  | 44,644 |  |  | 3 | to | 20
Trade names (finite life) | 99,136 |  |  | 28,587 |  |  | 70,549 |  |  | 3 | to | 20
Trade names (indefinite life) | 7,432 |  |  | — |  |  | 7,432 |  |  | Indefinite
Non-compete agreements | 10,104 |  |  | 8,948 |  |  | 1,156 |  |  | 3 | to | 6
Other | 609 |  |  | 301 |  |  | 308 |  |  | 2 | to | 12
Other intangible assets | $ | 739,880 |  |  | $ | 307,152 |  |  | $ | 432,728 |  |  |  |  |
Other intangible assets consisted of the following at December 31, 2023:
(In thousands) | Gross Cost |  | Accumulated Amortization |  | Net Balance |  | Estimated Useful Life in Years
Customer relationships | $ | 509,505 |  |  | $ | 189,967 |  |  | $ | 319,538 |  |  | 6 | to | 20
Patents | 114,864 |  |  | 67,602 |  |  | 47,262 |  |  | 3 | to | 20
Trade names (finite life) | 99,366 |  |  | 26,978 |  |  | 72,388 |  |  | 3 | to | 20
Trade names (indefinite life) | 7,600 |  |  | — |  |  | 7,600 |  |  | Indefinite
Non-compete agreements | 10,104 |  |  | 8,453 |  |  | 1,651 |  |  | 3 | to | 6
Other | 609 |  |  | 289 |  |  | 320 |  |  | 2 | to | 12
Other intangible assets | $ | 742,048 |  |  | $ | 293,289 |  |  | $ | 448,759 |  |  |  |  |
Acquisitions, Goodwill And Other Intangible Assets | ACQUISITIONS, GOODWILL AND OTHER INTANGIBLE ASSETS Subsequent Event Camping World Furniture In May 2024, the Company acquired the business and certain assets of the furniture operations of CWDS, LLC, a subsidiary of Camping World Holdings, Inc., in exchange for cash consideration of $20 million. The acquisition, which qualifies as a business combination for accounting purposes, expands the Company's furniture portfolio and will serve customers in both the OEM and Aftermarket segments. Goodwill Changes in the carrying amount of goodwill by reportable segment were as follows:
(In thousands) | OEM Segment |  | Aftermarket Segment |  | Total
Net balance – December 31, 2023 | $ | 421,701 |  |  | $ | 167,849 |  |  | $ | 589,550 |
Foreign currency translation | (1,575) |  |  | (184) |  |  | (1,759) |
Net balance – March 31, 2024 | $ | 420,126 |  |  | $ | 167,665 |  |  | $ | 587,791 |
Goodwill represents the excess of the total consideration given in an acquisition of a business over the fair value of the net tangible and identifiable intangible assets acquired. Goodwill is not amortized, but instead is tested at the reporting unit level for impairment annually in November, or more frequently if certain circumstances indicate a possible impairment may exist. Other Intangible Assets Other intangible assets consisted of the following at March 31, 2024:
(In thousands) | Gross Cost |  | Accumulated Amortization |  | Net Balance |  | Estimated Useful Life in Years
Customer relationships | $ | 508,140 |  |  | $ | 199,501 |  |  | $ | 308,639 |  |  | 6 | to | 20
Patents | 114,459 |  |  | 69,815 |  |  | 44,644 |  |  | 3 | to | 20
Trade names (finite life) | 99,136 |  |  | 28,587 |  |  | 70,549 |  |  | 3 | to | 20
Trade names (indefinite life) | 7,432 |  |  | — |  |  | 7,432 |  |  | Indefinite
Non-compete agreements | 10,104 |  |  | 8,948 |  |  | 1,156 |  |  | 3 | to | 6
Other | 609 |  |  | 301 |  |  | 308 |  |  | 2 | to | 12
Other intangible assets | $ | 739,880 |  |  | $ | 307,152 |  |  | $ | 432,728 |  |  |  |  |
Other intangible assets consisted of the following at December 31, 2023:
(In thousands) | Gross Cost |  | Accumulated Amortization |  | Net Balance |  | Estimated Useful Life in Years
Customer relationships | $ | 509,505 |  |  | $ | 189,967 |  |  | $ | 319,538 |  |  | 6 | to | 20
Patents | 114,864 |  |  | 67,602 |  |  | 47,262 |  |  | 3 | to | 20
Trade names (finite life) | 99,366 |  |  | 26,978 |  |  | 72,388 |  |  | 3 | to | 20
Trade names (indefinite life) | 7,600 |  |  | — |  |  | 7,600 |  |  | Indefinite
Non-compete agreements | 10,104 |  |  | 8,453 |  |  | 1,651 |  |  | 3 | to | 6
Other | 609 |  |  | 289 |  |  | 320 |  |  | 2 | to | 12
Other intangible assets | $ | 742,048 |  |  | $ | 293,289 |  |  | $ | 448,759 |  |  |  |  |

X
- Definition Acquisitions Goodwill And Other Intangible Assets Abstract + References No definition available. + Details
Name: | lcii_AcquisitionsGoodwillAndOtherIntangibleAssetsAbstract
Namespace Prefix: | lcii_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//805/tableOfContent + Details
Name: | us-gaap_BusinessCombinationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration