| For the Fiscal Year Ended December 31, For the Nine Months Ended September 30, TTM Ended September 30, ($ in millions) 2015 2016 2017 2018 2019 2020 2021 2022 2023 2022 2023 End of Period No. of RV Dealerships 98 105 124 141 154 160 175 189 205 184 205 Total Revenue $3,275.257 $3,516.307 $4,279.830 $4,792.017 $4,892.019 $5,446.591 $6,913.754 $6,967.013 $5,117.214 $5,686.710 $6,397.517 Gross Profit $895.467 $993.733 $1,240.914 $1,362.932 $1,287.398 $1,702.479 $2,456.328 $2,262.284 $1,535.208 $1,870.683 $1,926.809 Add: Restructuring costs – applicable to cost of revenue (1) - - - - 42.494 1.187 15.017 - 4.089 - 4.089 Adjusted Gross Profit $895.467 $993.733 $1,240.914 $1,362.932 $1,329.892 $1,703.666 $2,471.345 $2,262.284 $1,539.297 $1,870.683 $1,930.898 As % of Total Revenue 27.3% 28.3% 29.0% 28.4% 27.2% 31.3% 35.7% 32.5% 30.2% Selling, general, and administrative (“SG&A”) $634.890 $691.884 $853.160 $1,069.359 $1,141.643 $1,156.071 $1,573.609 $1,606.984 $1,201.901 $1,245.540 $1,563.345 Less: Restructuring costs – applicable to SG&A (2) - - - - 4.729 16.422 10.684 7.026 0.719 5.548 2.197 Less: Acquisitions – transaction costs (3) - - 2.662 - - - - - - - - Less: Gander Outdoors pre-opening costs (4) - - 26.352 43.156 - - - - - - - Less: Monitoring Fees (5) 2.500 1.875 - - - - - - - - - Less: Loss (gain) on sale of assets and disposition of stores (6) 1.452 - - - - - - - - - - Less: Adjustment to normalize rent on right-to-use assets (7) (7.598) - - - - - - - - - - Adjusted SG&A $638.536 $690.009 $824.146 $1,026.203 $1,136.914 $1,139.649 $1,562.925 $1,599.958 $1,201.182 $1,239.992 $1,561.148 As % of Adjusted Gross Profit 71.3% 69.4% 66.4% 75.3% 85.5% 66.9% 63.2% 70.7% 80.9% Floor plan interest expense $11.248 $18.854 $27.690 $38.315 $40.108 $19.689 $14.108 $42.031 $61.298 $24.483 $78.846 Equity-based compensation - $1.597 $5.109 $14.088 $13.145 $20.661 $47.936 $33.847 $18.316 $27.434 $24.729 5 1) See footnote (9) of the previous page. These restructuring costs were included in costs applicable to revenue – products, service and other in the consolidated statements of operations. 2) See footnote (9) of the previous page. These restructuring costs were included in selling, general, and administrative expenses in the consolidated statements of operations. 3) See footnote (7) of the previous page. 4) See footnote (10) of the previous page. 5) See footnote (4) of the previous page. Note that these costs were only added back in 2015 because it is not a separate line item in the consolidated statements of operations. 6) See footnote (13) of the previous page. Excluded resulting from the trim average calculation |