XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.25.3

Acquisitions, Goodwill And Other Intangible Assets | 9 Months Ended
--- | ---
Sep. 30, 2025
Acquisitions, Goodwill And Other Intangible Assets [Abstract] |
Acquisitions, Goodwill And Other Intangible Assets | ACQUISITIONS, GOODWILL AND OTHER INTANGIBLE ASSETS Subsequent Event Bigfoot In October 2025, the Company acquired substantially all of the business assets of Leveltron, LLC, the provider of Bigfoot Hydraulic Systems ("Bigfoot"), which provides hydraulic leveling solutions and landing gear to the RV, utility trailer, and equine trailer markets. The purchase price was approximately $10.1 million, subject to customary adjustments related to working capital. The results of the acquired business will be included in both the OEM and Aftermarket Segments. Acquisitions Completed During the Nine Months Ended September 30, 2025 Freedman Seating Company In April 2025, the Company acquired substantially all of the business assets of Freedman Seating Company, a manufacturer of transportation seating solutions to the bus, rail, marine, delivery truck, and specialty and commercial vehicle markets. The total fair value of consideration was approximately $79.4 million. The Company paid $68.6 million in cash consideration at closing, and paid $0.8 million in August 2025 to true up net working capital. The Company also assumed $10.0 million of the seller's debt related to new market tax credits. The results of the acquired business have been included in the Condensed Consolidated Statements of Income since the acquisition date, primarily in the OEM Segment. The Company is in the process of determining the fair value of the assets acquired and liabilities assumed for the opening balance sheet, including the fair value of the debt assumed and intangible assets. As this acquisition is not considered to have a material impact on the Company's financial statements, pro forma results of operations and other disclosures are not presented. The acquisition of this business was preliminarily recorded as of the acquisition date as follows (in thousands):
Cash consideration | $ | 69,361 |
Debt assumed | 10,000 |
Total consideration | $ | 79,361 |
Customer relationships | $ | 25,600 |
Other identifiable intangible assets | 8,700 |
Net tangible assets | 25,366 |
Total fair value of net assets acquired | $ | 59,666 |
Goodwill (tax deductible) | $ | 19,695 |
The customer relationships intangible asset is being amortized over its estimated useful life of 10 years. The consideration given was greater than the fair value of the net assets acquired, resulting in goodwill, because the Company anticipates the attainment of synergies and an increase in the markets for the acquired products. Other Acquisitions in 2025 During the nine months ended September 30, 2025, the Company completed two other acquisitions totaling $33.7 million of cash purchase consideration, plus holdback payments of $0.5 million to be paid over the year following the closing of the applicable acquisition and contingent consideration payable if annual thresholds are met through 2027 for up to a maximum of $2.0 million. The preliminary purchase price allocations resulted in $3.2 million of goodwill (tax deductible) and $8.5 million of acquired identifiable intangible assets. As these acquisitions are not considered to have a material impact on the Company's financial statements, pro forma results of operations and other disclosures are not presented. 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, 2024 | $ | 418,220 |  |  | $ | 167,553 |  |  | $ | 585,773 |
Acquisitions | 22,878 |  |  | — |  |  | 22,878 |
Foreign currency translation | 10,763 |  |  | 1,142 |  |  | 11,905 |
Net balance – September 30, 2025 | $ | 451,861 |  |  | $ | 168,695 |  |  | $ | 620,556 |
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 September 30, 2025:
(In thousands) | Gross Cost |  | Accumulated Amortization |  | Net Balance |  | Estimated Useful Life in Years
Customer relationships | $ | 550,508 |  |  | $ | 256,922 |  |  | $ | 293,586 |  |  | 6 | to | 20
Patents | 94,035 |  |  | 58,139 |  |  | 35,896 |  |  | 3 | to | 20
Trade names (finite life) | 107,269 |  |  | 34,270 |  |  | 72,999 |  |  | 3 | to | 20
Trade names (indefinite life) | 7,432 |  |  | — |  |  | 7,432 |  |  | Indefinite
Non-compete agreements | 4,874 |  |  | 4,638 |  |  | 236 |  |  | 3 | to | 6
Other | 609 |  |  | 362 |  |  | 247 |  |  | 2 | to | 12
Other intangible assets | $ | 764,727 |  |  | $ | 354,331 |  |  | $ | 410,396 |  |  |  |  |
Other intangible assets consisted of the following at December 31, 2024:
(In thousands) | Gross Cost |  | Accumulated Amortization |  | Net Balance |  | Estimated Useful Life in Years
Customer relationships | $ | 508,945 |  |  | $ | 228,332 |  |  | $ | 280,613 |  |  | 6 | to | 20
Patents | 111,934 |  |  | 74,010 |  |  | 37,924 |  |  | 3 | to | 20
Trade names (finite life) | 95,879 |  |  | 30,524 |  |  | 65,355 |  |  | 3 | to | 20
Trade names (indefinite life) | 7,432 |  |  | — |  |  | 7,432 |  |  | Indefinite
Non-compete agreements | 5,154 |  |  | 4,732 |  |  | 422 |  |  | 3 | to | 6
Other | 609 |  |  | 337 |  |  | 272 |  |  | 2 | to | 12
Other intangible assets | $ | 729,953 |  |  | $ | 337,935 |  |  | $ | 392,018 |  |  |  |  |
Acquisitions, Goodwill And Other Intangible Assets | ACQUISITIONS, GOODWILL AND OTHER INTANGIBLE ASSETS Subsequent Event Bigfoot In October 2025, the Company acquired substantially all of the business assets of Leveltron, LLC, the provider of Bigfoot Hydraulic Systems ("Bigfoot"), which provides hydraulic leveling solutions and landing gear to the RV, utility trailer, and equine trailer markets. The purchase price was approximately $10.1 million, subject to customary adjustments related to working capital. The results of the acquired business will be included in both the OEM and Aftermarket Segments. Acquisitions Completed During the Nine Months Ended September 30, 2025 Freedman Seating Company In April 2025, the Company acquired substantially all of the business assets of Freedman Seating Company, a manufacturer of transportation seating solutions to the bus, rail, marine, delivery truck, and specialty and commercial vehicle markets. The total fair value of consideration was approximately $79.4 million. The Company paid $68.6 million in cash consideration at closing, and paid $0.8 million in August 2025 to true up net working capital. The Company also assumed $10.0 million of the seller's debt related to new market tax credits. The results of the acquired business have been included in the Condensed Consolidated Statements of Income since the acquisition date, primarily in the OEM Segment. The Company is in the process of determining the fair value of the assets acquired and liabilities assumed for the opening balance sheet, including the fair value of the debt assumed and intangible assets. As this acquisition is not considered to have a material impact on the Company's financial statements, pro forma results of operations and other disclosures are not presented. The acquisition of this business was preliminarily recorded as of the acquisition date as follows (in thousands):
Cash consideration | $ | 69,361 |
Debt assumed | 10,000 |
Total consideration | $ | 79,361 |
Customer relationships | $ | 25,600 |
Other identifiable intangible assets | 8,700 |
Net tangible assets | 25,366 |
Total fair value of net assets acquired | $ | 59,666 |
Goodwill (tax deductible) | $ | 19,695 |
The customer relationships intangible asset is being amortized over its estimated useful life of 10 years. The consideration given was greater than the fair value of the net assets acquired, resulting in goodwill, because the Company anticipates the attainment of synergies and an increase in the markets for the acquired products. Other Acquisitions in 2025 During the nine months ended September 30, 2025, the Company completed two other acquisitions totaling $33.7 million of cash purchase consideration, plus holdback payments of $0.5 million to be paid over the year following the closing of the applicable acquisition and contingent consideration payable if annual thresholds are met through 2027 for up to a maximum of $2.0 million. The preliminary purchase price allocations resulted in $3.2 million of goodwill (tax deductible) and $8.5 million of acquired identifiable intangible assets. As these acquisitions are not considered to have a material impact on the Company's financial statements, pro forma results of operations and other disclosures are not presented. 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, 2024 | $ | 418,220 |  |  | $ | 167,553 |  |  | $ | 585,773 |
Acquisitions | 22,878 |  |  | — |  |  | 22,878 |
Foreign currency translation | 10,763 |  |  | 1,142 |  |  | 11,905 |
Net balance – September 30, 2025 | $ | 451,861 |  |  | $ | 168,695 |  |  | $ | 620,556 |
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 September 30, 2025:
(In thousands) | Gross Cost |  | Accumulated Amortization |  | Net Balance |  | Estimated Useful Life in Years
Customer relationships | $ | 550,508 |  |  | $ | 256,922 |  |  | $ | 293,586 |  |  | 6 | to | 20
Patents | 94,035 |  |  | 58,139 |  |  | 35,896 |  |  | 3 | to | 20
Trade names (finite life) | 107,269 |  |  | 34,270 |  |  | 72,999 |  |  | 3 | to | 20
Trade names (indefinite life) | 7,432 |  |  | — |  |  | 7,432 |  |  | Indefinite
Non-compete agreements | 4,874 |  |  | 4,638 |  |  | 236 |  |  | 3 | to | 6
Other | 609 |  |  | 362 |  |  | 247 |  |  | 2 | to | 12
Other intangible assets | $ | 764,727 |  |  | $ | 354,331 |  |  | $ | 410,396 |  |  |  |  |
Other intangible assets consisted of the following at December 31, 2024:
(In thousands) | Gross Cost |  | Accumulated Amortization |  | Net Balance |  | Estimated Useful Life in Years
Customer relationships | $ | 508,945 |  |  | $ | 228,332 |  |  | $ | 280,613 |  |  | 6 | to | 20
Patents | 111,934 |  |  | 74,010 |  |  | 37,924 |  |  | 3 | to | 20
Trade names (finite life) | 95,879 |  |  | 30,524 |  |  | 65,355 |  |  | 3 | to | 20
Trade names (indefinite life) | 7,432 |  |  | — |  |  | 7,432 |  |  | Indefinite
Non-compete agreements | 5,154 |  |  | 4,732 |  |  | 422 |  |  | 3 | to | 6
Other | 609 |  |  | 337 |  |  | 272 |  |  | 2 | to | 12
Other intangible assets | $ | 729,953 |  |  | $ | 337,935 |  |  | $ | 392,018 |  |  |  |  |

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://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration