Camping World (CWH) 10-Q 7 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 05, 2018
Entity Registrant Name	Camping World Holdings, Inc.
Entity Central Index Key	1,669,779
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Entity Small Business	false
Entity Emerging Growth Company	false
Class A common stock
Entity Common Stock, Shares Outstanding		37,080,756
Class B common stock
Entity Common Stock, Shares Outstanding		50,706,629
Class C common stock
Entity Common Stock, Shares Outstanding		1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 125,366	$ 224,163
Contracts in transit	86,733	46,227
Accounts receivable, net	100,071	79,881
Inventories	1,495,041	1,415,915
Prepaid expenses and other assets	36,637	32,721
Total current assets	1,843,848	1,798,907
Property and equipment, net	391,579	198,022
Deferred tax assets, net	145,751	155,551
Intangible assets, net	36,410	38,707
Goodwill	389,087	348,387
Other assets	20,423	21,903
Total assets	2,827,098	2,561,477
Current liabilities:
Accounts payable	224,965	125,616
Accrued liabilities	143,792	101,929
Deferred revenues and gains	92,391	77,669
Current portion of capital lease obligations	207	844
Current portion of Tax Receivable Agreement liability	10,404	8,093
Current portion of long-term debt	11,991	9,465
Notes payable - floor plan, net	734,038	974,043
Other current liabilities	31,520	22,510
Total current liabilities	1,249,308	1,320,169
Capital lease obligations, net of current portion		23
Right to use liability	10,074	10,193
Tax Receivable Agreement liability, net of current portion	123,285	129,596
Revolving line of credit	24,403
Long-term debt, net of current portion	1,149,398	907,437
Deferred revenues and gains	69,223	64,061
Other long-term liabilities	62,855	39,161
Total liabilities	2,688,546	2,470,640
Commitments and contingencies
Stockholders' equity:
Preferred stock, par value $0.01 per share - 20,000,000 shares authorized; none issued and outstanding as of September 30, 2018 and December 31, 2017
Additional paid-in capital	50,170	49,941
Retained earnings	35,730	6,192
Total stockholders' equity attributable to Camping World Holdings, Inc.	86,276	56,505
Non-controlling interests	52,276	34,332
Total stockholders' equity	138,552	90,837
Total liabilities and stockholders' equity	2,827,098	2,561,477
Class A common stock
Stockholders' equity:
Common stock	371	367
Total stockholders' equity	371	367
Class B common stock
Stockholders' equity:
Common stock	5	5
Total stockholders' equity	$ 5	$ 5

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Stockholders' equity (deficit)
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized	20,000,000	20,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Class A common stock
Stockholders' equity (deficit)
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	250,000,000	250,000,000
Common stock, issued	37,069,230	36,758,233
Common stock, outstanding	37,056,971	36,749,072
Class B common stock
Stockholders' equity (deficit)
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized	75,000,000	75,000,000
Common stock, issued	69,066,445	69,066,445
Common stock, outstanding	50,706,629	50,836,629
Class C common stock
Stockholders' equity (deficit)
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized	1	1
Common stock, issued	1	1
Common stock, outstanding	1	1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue:
Total revenue	$ 1,312,727	$ 1,235,602	$ 3,819,469	$ 3,396,263
Costs applicable to revenue (exclusive of depreciation and amortization shown separately below):
Total costs applicable to revenue	936,473	880,387	2,722,275	2,416,539
Operating expenses:
Selling, general, and administrative	278,329	236,174	807,738	640,108
Debt restructure expense			380
Depreciation and amortization	13,179	8,382	34,207	22,819
Loss (gain) on sale of assets	843	(5)	987	(292)
Total operating expenses	292,351	244,551	843,312	662,635
Income from operations	83,903	110,664	253,882	317,089
Other income (expense):
Floor plan interest expense	(7,815)	(7,414)	(28,760)	(19,303)
Other interest expense, net	(16,794)	(11,012)	(45,740)	(30,973)
Loss on debt restructure			(1,676)
Tax Receivable Agreement liability adjustment		(96)		(79)
Total other income (expense)	(24,609)	(18,522)	(76,176)	(50,355)
Income before income taxes	59,294	92,142	177,706	266,734
Income tax expense	(11,385)	(8,390)	(30,706)	(28,266)
Net income	47,909	83,752	147,000	238,468
Less: net income attributable to non-controlling interests	(33,893)	(64,163)	(101,772)	(192,013)
Net income attributable to Camping World Holdings, Inc.	$ 14,016	$ 19,589	$ 45,228	$ 46,455
Weighted average shares of Class A common stock outstanding:
Dividends declared per share	$ 0.1532	$ 0.1532	$ 0.4596	$ 0.4596
Class A common stock
Other income (expense):
Net income	$ 47,909	$ 83,752	$ 147,000	$ 238,468
Less: net income attributable to non-controlling interests	$ (33,893)	$ (64,163)	$ (101,772)	$ (192,013)
Earnings per share of Class A common stock:
Basic	$ 0.38	$ 0.66	$ 1.22	$ 1.95
Diluted	$ 0.38	$ 0.66	$ 1.20	$ 1.91
Weighted average shares of Class A common stock outstanding:
Basic	37,018	29,522	36,933	23,854
Diluted	37,055	29,522	88,891	85,947
New vehicles
Revenue:
Total revenue	$ 697,317	$ 713,362	$ 2,084,346	$ 1,977,472
Used vehicles
Revenue:
Total revenue	197,757	187,463	580,494	528,897
Dealership parts, services and other
Revenue:
Total revenue	71,607	66,847	210,024	185,586
Finance and insurance, net
Revenue:
Total revenue	109,459	100,858	325,368	267,207
Consumer Services and Plans
Revenue:
Total revenue	52,044	46,169	158,600	144,518
Costs applicable to revenue (exclusive of depreciation and amortization shown separately below):
Total costs applicable to revenue	21,499	20,085	65,056	61,792
Dealership | New vehicles
Revenue:
Total revenue	697,317	713,362	2,084,346	1,977,472
Costs applicable to revenue (exclusive of depreciation and amortization shown separately below):
Total costs applicable to revenue	609,244	611,361	1,810,822	1,692,432
Dealership | Used vehicles
Revenue:
Total revenue	197,757	187,463	580,494	528,897
Costs applicable to revenue (exclusive of depreciation and amortization shown separately below):
Total costs applicable to revenue	152,562	140,111	449,361	396,939
Dealership | Dealership parts, services and other
Revenue:
Total revenue	71,607	66,847	210,024	185,586
Costs applicable to revenue (exclusive of depreciation and amortization shown separately below):
Total costs applicable to revenue	36,504	34,923	104,372	96,237
Dealership | Finance and insurance, net
Revenue:
Total revenue	109,459	100,858	325,368	267,207
Retail
Revenue:
Total revenue	184,543	120,903	460,637	292,583
Costs applicable to revenue (exclusive of depreciation and amortization shown separately below):
Total costs applicable to revenue	$ 116,664	$ 73,907	$ 292,664	$ 169,139

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Additional Paid-in Capital	Retained Earnings (Deficit)	Non-controlling Interest	Class A common stock	Class B common stock	Class C common stock	Total
Increase (Decrease) in Members' Equity (Deficit)
Adoption of accounting standard (see Note 1 - Summary of Significant Accounting Policies) | ASU 2014-09		$ 1,310	$ 2,476				$ 3,786
Balance at Dec. 31, 2017	$ 49,941	6,192	34,332	$ 367	$ 5		90,837
Balance (in shares) at Dec. 31, 2017				36,749,072	50,836,629	1
Increase (Decrease) in Members' Equity (Deficit)
Equity-based compensation	10,535						10,535
Exercise of stock options	149						149
Exercise of stock options (in shares)				7,000
Non-controlling interest adjustment for capital contribution of proceeds from the exercise of stock options	(86)		86
Vesting of restricted stock units	73		(74)	$ 1
Vesting of restricted stock units (in shares)				89,000
Repurchases of Class A common stock for withholding taxes on vested RSUs	(62)						(62)
Repurchases of Class A common stock for withholding taxes on vested RSUs (in shares)				(3,000)
Disgorgement of short-swing profits by Section 16 officer	557						557
Redemption of LLC common units for Class A common stock	4,332		(153)	$ 3			4,182
Redemption of LLC common units for Class A common stock (in shares)				215,000	(130,000)
Distributions to holders of LLC common units			(98,347)				(98,347)
Dividends		(17,000)					(17,000)
Establishment of liabilities under the Tax Receivable Agreement and related changes to deferred tax assets associated with that liability	(3,085)						(3,085)
Non-controlling interest adjustment	(12,184)		12,184
Net income		45,228	101,772	$ 147,000			147,000
Balance at Sep. 30, 2018	$ 50,170	$ 35,730	$ 52,276	$ 371	$ 5		$ 138,552
Balance (in shares) at Sep. 30, 2018				37,056,971	50,706,629	1

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Operating activities
Net income	$ 147,000	$ 238,468
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	34,207	22,819
Equity-based compensation	10,535	2,792
Loss on debt restructure	1,676
Loss (gain) on sale of assets	987	(292)
Provision for (recovery of) losses on accounts receivable	1,957	(23)
Accretion of original debt issuance discount	764	706
Amortization of deferred financing costs	4,655	3,210
Deferred income taxes	7,300	3,275
Tax Receivable Agreement liability adjustment		79
Change in assets and liabilities, net of acquisitions:
Receivables and contracts in transit	(56,321)	(64,211)
Inventories	(37,364)	(150,741)
Prepaid expenses and other assets	230	(6,381)
Checks in excess of bank balance	4,512
Accounts payable and other accrued expenses	117,971	97,229
Payment pursuant to tax receivable agreement	(8,100)	(203)
Accrued rent for cease-use locations	(622)	(91)
Deferred revenue and gains	17,288	16,485
Other, net	4,383	10,231
Net cash provided by operating activities	251,058	173,352
Investing activities
Purchases of property and equipment	(105,408)	(45,968)
Purchase of real property	(100,073)	(16,820)
Proceeds from the sale of real property		6,000
Purchases of businesses, net of cash acquired	(82,195)	(345,140)
Proceeds from sale of property and equipment	892	603
Net cash used in investing activities	(286,784)	(401,325)
Financing activities
Proceeds from long-term debt	319,913	94,762
Payments on long-term debt	(76,709)	(5,550)
Net (payments) borrowings on notes payable - floor plan, net	(212,080)	205,453
Borrowings on revolving line of credit	24,403
Payments of principal on capital lease obligations	(660)	(950)
Payments of principal on right to use liability	(119)	(112)
Payment of debt issuance costs	(3,120)	(1,176)
Proceeds from issuance of Class A common stock sold in a public offering net of underwriter discounts, commissions and offering expenses		121,445
Dividends on Class A common stock	(17,000)	(11,874)
Proceeds from exercise of stock options	153
RSU shares withheld for tax	(62)
Disgorgement of short-swing profits by Section 16 officer	557
Members' distributions	(98,347)	(124,996)
Net cash (used in) provided by financing activities	(63,071)	277,002
(Decrease) increase in cash	(98,797)	49,029
Cash at beginning of the period	224,163	114,196
Cash at end of period	$ 125,366	$ 163,225

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2018
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of Camping World Holdings, Inc. (“CWH”) and its subsidiaries (collectively, the “Company”), and are presented in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for fair presentation of the results of operations, financial position and cash flows for the periods presented have been reflected. All significant intercompany accounts and transactions of the Company and its subsidiaries have been eliminated in consolidation. The condensed consolidated financial statements as of and for the three and nine months ended September 30, 2018 are unaudited. The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited financial statements at that date but does not include all of the disclosures required by GAAP. These interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 (the “Annual Report”) filed with the SEC on March 13, 2018. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year. CWH was formed on March 8, 2016 as a Delaware corporation for the purpose of facilitating an initial public offering (the “IPO”) and other related transactions in order to carry on the business of CWGS Enterprises, LLC (“CWGS, LLC”). CWGS, LLC was formed in March 2011 when it received, through contribution from its then parent company, all of the membership interests of Affinity Group Holding, LLC and FreedomRoads Holding Company, LLC (“FreedomRoads”). The IPO and related reorganization transactions (the “Reorganization Transactions”) that occurred on October 6, 2016 resulted in CWH as the sole managing member of CWGS, LLC, with CWH having sole voting power in and control of the management of CWGS, LLC. Despite its position as sole managing member of CWGS, LLC, CWH has a minority economic interest in CWGS, LLC. As of September 30, 2018, CWH owned 41.8% of CWGS, LLC. Accordingly, the Company consolidates the financial results of CWGS, LLC and reports a non-controlling interest in its consolidated financial statements. The Company does not have any components of other comprehensive income recorded within its consolidated financial statements, and, therefore, does not separately present a statement of comprehensive income in its consolidated financial statements. Description of the Business CWGS, LLC is a holding company and operates through its subsidiaries. The Company realigned the structure of its internal organization during the three months ended September 30, 2018 in a manner that caused the composition of its reportable segments to change to the following three segments: (i) Consumer Services and Plans, (ii) Dealership, and (iii) Retail. The Company reportable segment financial information has been recasted to reflect the updated reportable segment structure for all periods presented. See Note 18 to Consolidated Financial Statements for further information about the Company’s segments. The Company provides consumer services and plans offerings under its Good Sam brand, its Dealership offerings under its Camping World brand, and its Retail products primarily under the Camping World and Gander Outdoors brands. Within the Consumer Services and Plans segment, the Company primarily derives revenue from the sale of the following offerings: emergency roadside assistance; property and casualty insurance programs; travel assist programs; extended vehicle service contracts; co-branded credit cards; vehicle financing and refinancing; club memberships; and publications and directories. Within the Dealership segment, the Company primarily derives revenue from the sale of new and used recreational vehicles (“RV’s”), sale of RV parts, services and other, and commissions on the related finance and insurance contracts. Within the Retail segment, the Company primarily derives revenue from the sale of the following: products, parts, accessories, supplies and service for RVs, and equipment, gear and supplies for camping, hunting, fishing, skiing, snowboarding, bicycling, skateboarding, marine and watersport and other outdoor activities. As noted above, both the Dealership and Retail segments derive revenue from the sale of parts, services and other revenues since certain retail locations without associated dealerships have the capability to perform RV repair and maintenance services. Additionally, certain RV parts and accessories can be sold to customers at a dealership or retail location. The revenues and related costs of revenues for these parts and services are recorded in the segment that enters into the transaction with the customer, either Dealership or Retail. The Company primarily operates in various regions throughout the United States and markets its products and services to RV owners and outdoor enthusiasts. At September 30, 2018, the Company operated 227 retail locations, of which 136 locations sold new and used RVs and offered RV financing and insurance; 129 locations offered RV products, parts and services; 55 Gander Outdoors locations offered outdoor products and services; one Overton’s location offered marine and watersports products; two TheHouse.com locations offered skiing, snowboarding, bicycling, and skateboarding products; two W82 locations offered skiing, snowboarding, and skateboarding products; and six Uncle Dan’s locations offered outdoor products and services. In addition, on January 30, 2018 the Company acquired certain assets of EARTH SPORTS LLC, dba Erehwon Mountain Outfitter (“Erehwon”), a leading Midwest specialty retailer of outdoor gear and apparel with four retail locations. On April 19, 2018 the Company acquired Rock Creek Outfitters (“Rock Creek”), a specialty outdoor retailer of outdoor gear for kayaking, rock climbing, camping and hiking with seven retail locations. In the first nine months of 2018, the Company converted three RV products, parts and services locations from the Camping World nameplate to the Gander nameplate (Bowling Green, Kentucky, Madison, Wisconsin and Roanoke, Virginia), converted one RV products, parts and services location from a Camping World nameplate to an Overton’s nameplate (Rogers, Minnesota), closed two RV products, parts and services locations from the Camping World nameplate (Winter Garden, FL; and Cleburne, TX), closed two Overton’s locations (Greenville, North Carolina and Raleigh, North Carolina), closed one Gander Outdoors location (Florence, Alabama), and acquired a dealership in Worthing, South Dakota and subsequently merged the operations of the acquired dealership into our existing dealership within the same market. Use of Estimates The preparation of these unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results may differ from those estimates. In preparing these financial statements, management has made its best estimates and judgments of certain amounts included in the financial statements, giving due consideration to materiality. The Company bases its estimates and judgments on historical experience and other assumptions that management believes are reasonable. However, application of these accounting policies involves the exercise of judgment and use of assumptions as to future uncertainties and, as a result, actual results could differ materially from these estimates. The Company periodically evaluates estimates and assumptions used in the preparation of the financial statements and makes changes on a prospective basis when adjustments are necessary. Significant estimates made in the accompanying unaudited condensed consolidated financial statements include certain assumptions related to accounts receivable, inventory, goodwill, intangible assets, long lived assets, program cancellation reserves, and accruals related to self-insurance programs, estimated tax liabilities and other liabilities. Recently Adopted Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). The FASB has subsequently issued several related ASUs that clarified the implementation guidance for certain aspects of ASU 2014-09, which are effective upon the adoption of ASU 2014-09. This ASU sets forth a five-step model for determining when and how revenue is recognized. Under the model, an entity is required to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. The Company adopted the amendments of this ASU on January 1, 2018, and the adoption did not materially impact its consolidated financial statements or results of operations (see Note 2 — Revenue for further details). In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). This ASU addresses several specific cash flow issues with the objective of reducing the diversity in practice of how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The Company adopted the amendments of this ASU on January 1, 2018, and the adoption did not materially impact its consolidated financial statements or results of operations. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). The FASB has subsequently issued several related ASUs that clarified the implementation guidance for certain aspects of ASU 2016-02, which are effective upon the adoption of ASU 2016-02. The amendments in this ASU relate to the accounting for leasing transactions. This standard requires a lessee to record on the balance sheet the assets and liabilities for the rights and obligations created by leases with lease terms of more than 12 months. In addition, this standard requires both lessees and lessors to disclose certain key information about lease transactions. In July 2018, the FASB made targeted improvements to the standard, including providing an additional and optional transition method. Under this method, an entity initially applies the standard at the adoption date, including the election of certain transition reliefs, and recognizes a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. This standard will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is executing against its project plan, which includes implementing a software solution, designing and implementing new controls, evaluating new disclosure requirements, and finalizing accounting policies and practical expedients. The Company is in the process of evaluating the impact that the adoption will have on its consolidated balance sheet and statement of income. However, the Company expects that the adoption of the provisions of this ASU will have a significant impact on its consolidated balance sheet by reporting a right-to-use lease asset and corresponding lease obligation, as currently most of its real estate is leased via operating leases. In August 2018, the FASB issued ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820) (“ASU 2018-13”). This standard eliminates, amends, and adds disclosure requirements for fair value measurements. The amended and new disclosure requirements primarily relate to Level 3 fair value measurements. The standard will be effective for fiscal years beginning after December 15, 2019. The removal and amendment of certain disclosures may be early adopted with retrospective application while the new disclosure requirements are to be applied prospectively. The Company plans to early adopt this standard as of October 1, 2018. The Company currently does not expect this ASU, which relates only to disclosures, to have a material impact to the Company’s consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”). This standard aligns the accounting for implementation costs incurred in a cloud computing arrangement that is a service arrangement (i.e., hosting arrangement) with the guidance on capitalizing costs in ASC 350-40, Internal-Use Software. The ASU permits either a prospective or retrospective transition approach. The standard will be effective for fiscal years beginning after December 15, 2019. The Company is currently evaluating the impact that the adoption of the provisions of the ASU will have on its consolidated financial statements. Immaterial Corrections Certain immaterial corrections have been made to the statements of cash flows, which reduced net cash provided by operating activities and decreased net cash used in investing activities by $3.8 million for the nine months ended September 30, 2017. As part of these immaterial corrections, the Company increased the Accounts Payable and Other Accrued Expenses line item and decreased the Other, Net line item within cash provided by operating activities for the nine months ended September 30, 2017. These corrections had no impact on the previously-reported consolidated balance sheets, statements of operations, or statements of stockholders' equity.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2018
Revenue
Revenue	2. Revenue Adoption of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers On January 1, 2018, the Company adopted ASC 606, Revenue from Contracts with Customers (“ASC 606”) using the modified retrospective method applied to those contracts that were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with the Company’s historical accounting under ASC 605. The following table details the cumulative effect of the changes made to the consolidated January 1, 2018 balance sheet for the adoption of ASC 606 (in thousands): Balance at Adjustments Balance at December 31, Due to January 1, 2017 ASU 2014-09 2018 Assets Accounts receivable, net $ 79,881 $ 6,130 $ 86,011 Inventories 1,415,915 (5,142) 1,410,773 Prepaid expenses and other assets 32,721 4,508 37,229 Deferred tax assets, net 155,551 (303) 155,248 Liabilities Accrued liabilities 101,929 1,021 102,950 Deferred revenues and gains, current 77,669 857 78,526 Deferred revenues and gains, non-current 64,061 (471) 63,590 Equity Retained earnings 6,192 1,310 7,502 Non-controlling interests 34,332 2,476 36,808 The adjustments above related primarily to i) the deferral of sales commissions expenses relating to multiyear consumer services and plans and the recording of such expenses over the same period as the recognition of the related revenues, ii) adjustment of recognition period of RV service revenue from point-in-time to over time, iii) adjustment of capitalized direct-response advertising to expense when the advertising is mailed instead of over the expected benefit period, iv) reclassification of estimated product returns from inventory to prepaid expenses and other assets, v) reclassification of expected refunds previously included in deferred revenues and gains to accrued liabilities, and vi) reclassification and adjustment of the point obligation for the Coast to Coast service from accrued liabilities to deferred revenues and gains. The following table details the impact of the adoption of ASC 606 on the consolidated balance sheet as of September 30, 2018 (in thousands): September 30, 2018 As Balances Without Effect of Change Reported Adoption of ASC 606 Higher/(Lower) Assets Accounts receivable, net $ 100,071 $ 93,456 $ 6,615 Inventories 1,495,041 1,501,772 (6,731) Prepaid expenses and other assets 36,637 29,623 7,014 Deferred tax assets, net 145,751 146,054 (303) Liabilities Accrued liabilities 143,792 142,640 1,152 Deferred revenues and gains, current 92,391 91,440 951 Deferred revenues and gains, non-current 69,223 69,880 (657) Equity Retained earnings 35,730 33,945 1,785 Non-controlling interests 52,276 48,912 3,364 The following table details the impact of the adoption of ASC 606 on the consolidated statement of operations for the three and nine months ended September 30, 2018 (in thousands): Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 Balances Without Effect of Balances Without Effect of As Reported Adoption of ASC 606 Change Higher/(Lower) As Reported Adoption of ASC 606 Change Higher/(Lower) Revenue Consumer services and plans $ 52,044 $ 52,046 $ (2) $ 158,600 $ 158,637 $ (37) Dealership parts, services and other 71,607 70,942 665 210,024 209,634 390 Retail 184,543 184,562 (19) 460,637 460,512 125 Costs applicable to revenue Consumer services and plans 21,499 21,643 (144) 65,056 65,360 (304) Dealership parts, services and other 36,504 36,209 295 104,372 104,219 153 Retail 116,664 116,655 9 292,664 292,595 69 Operating and income tax expenses Selling, general, and administrative 278,329 278,928 (599) 807,738 808,701 (963) Income tax expense 11,385 11,271 114 30,706 30,546 160 Net income Net income 47,909 46,940 969 147,000 145,637 1,363 Less: net income attributable to non-controlling interests (33,893) (33,262) (631) (101,772) (100,884) (888) Net income attributable to Camping World Holdings, Inc. 14,016 13,678 338 45,228 44,753 475 For the three and nine months ended September 30, 2018, basic earnings per share of Class A common stock would have been $0.37 and $1.21 per share, respectively, without the adoption of ASC 606 compared to the as-reported amount of $0.38 and $1.22 per share, respectively. For the three and nine months ended September 30, 2018, diluted earnings per share of Class A common stock would have been $0.37 and $1.20 per share, respectively, without the adoption of ASC 606 compared to the as-reported amount of $0.38 and $1.20 per share, respectively. Revenue Recognition Revenues are recognized by the Company when control of the promised goods or services is transferred to its customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Sales and other taxes collected from the customer concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are recognized as expense. The Company presents disaggregated revenue on its consolidated statements of operations. Consumer Services and Plans revenue consists of revenue from club memberships, publications, consumer shows, and marketing and royalty fees from various consumer services and plans. Certain Consumer Services and Plans revenue is generated from annual, multiyear and lifetime memberships. The revenue and expenses associated with these memberships are deferred and amortized over the membership period. Unearned revenue and profit are subject to revisions as the membership progresses to completion. Revisions to membership period estimates would change the amount of income and expense amortized in future accounting periods. For lifetime memberships, an 18 year period is used, which is the actuarially determined estimated fulfillment period. Roadside Assistance (“RA”) revenues are deferred and recognized over the contractual life of the membership. RA claim expenses are recognized when incurred. Royalty revenue is earned under the terms of an arrangement with a third-party credit card provider based on a percentage of the Company’s co-branded credit card portfolio retail spending with such third-party credit card provider and for acquiring new cardholders. Marketing fees for finance, insurance, extended service and other similar products are recognized as variable consideration, net of estimated cancellations, if applicable, when a product contract payment has been received or financing has been arranged. Promotional expenses consist primarily of direct mail advertising expenses and renewal expenses and are expensed at the time related materials are mailed. Newsstand sales of publications and related expenses are recorded as variable consideration at the time of delivery, net of estimated returns. Subscription sales of publications are reflected in income over the lives of the subscriptions. The related selling expenses are expensed as incurred. Advertising revenues and related expenses are recorded at the time of delivery. Revenue and related expenses for consumer shows are recognized when the show occurs. Dealership revenue consists of sales of new and used recreational vehicles, sales of RV parts and services, and commissions on the related finance and insurance contracts. Revenue from the sale of recreational vehicles is recognized upon completion of the sale to the customer. Conditions to completing a sale include having an agreement with the customer, including pricing, whereby the sales price must be reasonably expected to be collected and having control transferred to the customer. Revenue from Dealership parts, services and other products sales is recognized over time as work is completed, and when parts are delivered to our customers. For service and parts revenues recorded over time, the Company utilizes a method that considers total costs incurred to date and the applicable margin in relation to total expected efforts to complete our performance obligation in order to determine the appropriate amount of revenue to recognize over time. Finance and insurance revenue is recorded net, since the Company is acting as an agent in the transaction, and is recognized when a finance and insurance product contract payment has been received or financing has been arranged. The proceeds the Company receives for arranging financing contracts, and selling insurance and service contracts, are subject to chargebacks if the customer terminates the respective contract earlier than a stated period. These proceeds are recorded as variable consideration, net of estimated chargebacks. Retail revenue consists of sales of products, parts and services and other products, including RV accessories and supplies, and camping, hunting, fishing, skiing, snowboarding, bicycling, skateboarding, marine and watersport equipment and supplies. Revenue from products, parts, and services sales is recognized over time as work is completed, and when parts are delivered to our customers. For service and parts revenues recorded over time, the Company utilizes a method that considers total costs incurred to date and the applicable margin in relation to total expected efforts to complete our performance obligation in order to determine the appropriate amount of revenue to recognize over time. E-commerce sales are recognized when the product is shipped. Finance and insurance revenue is recognized when a finance and insurance product contract payment has been received or financing has been arranged. The proceeds the Company receives for arranging financing contracts, and selling insurance and service contracts, are subject to chargebacks if the customer terminates the respective contract earlier than a stated period. These proceeds are recorded as variable consideration, net of estimated chargebacks. The Company’s contracts with customers may include multiple performance obligations. For such arrangements, the Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company generally determines standalone selling prices based on the prices charged to customers or using the adjusted market assessment approach. As of September 30, 2018 and January 1, 2018, a contract asset of $6.8 million and $6.3 million, respectively, relating to RV service revenues was included in accounts receivable in the accompanying unaudited condensed consolidated balance sheet. As of September 30, 2018 and January 1, 2018, the Company had capitalized costs to acquire a contract, consisting of sale commissions, of $5.8 million and $4.4 million, respectively. Deferred Revenues The Company records deferred revenues when cash payments are received or due in advance of the Company’s performance, net of estimated refunds that are presented separately as a component of accrued liabilities. The increase in the deferred revenue balance for the nine months ended September 30, 2018 was primarily driven by cash payments received or due in advance of satisfying the Company’s performance obligations, partially offset by $64.8 million of revenues recognized that were included in the deferred revenue balance at the beginning of the period. As of September 30, 2018, the Company has unsatisfied performance obligations relating to multiyear plans for its Good Sam Club, RA, Coast to Coast memberships, and magazine publication revenue streams. The total unsatisfied performance obligation for these revenue streams at September 30, 2018 and the periods during which the Company expects to recognize the amounts as revenue are presented as follows (in thousands): As of September 30, 2018 2018 $ 37,322 2019 62,679 2020 24,151 2021 11,738 2022 6,046 Thereafter 9,096 Total $ 151,032 The Company’s payment terms vary by the type and location of its customer and the products or services offered. The term between invoicing and when payment is due is not significant. For certain products or services and customer types, the Company requires payment before the products or services are delivered to the customer. Practical Expedients and Exemptions The Company does not adjust the promised amount of consideration for the effects of a significant financing component if the Company expects, at contract inception, that the period of time between payment and transfer of the promised goods or services will be one year or less. The Company expenses sales commissions when incurred in cases where the amortization period of those otherwise capitalized sales commissions would have been one year or less. The Company does not disclose the value of unsatisfied performance obligations for revenue streams for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed.

Inventories and Floor Plan Paya

Inventories and Floor Plan Payable	9 Months Ended
	Sep. 30, 2018
Inventories and Floor Plan Payable
Inventories and Floor Plan Payable	3. Inventories and Floor Plan Payable Inventories consisted of the following (in thousands): September 30, December 31, 2018 2017 Consumer services and plans $ — $ 387 Dealership: New RV vehicles 912,581 1,113,178 Used RV vehicles 121,225 106,210 Dealership parts, accessories and miscellaneous 8,012 7,802 Retail 453,223 188,338 $ 1,495,041 $ 1,415,915 New and used vehicles included in retail inventories are primarily financed by floor plan arrangements through a syndication of banks. The arrangements are collateralized by substantially all of the assets of FreedomRoads, LLC (“FR”), a wholly owned subsidiary of FreedomRoads, which operates the Camping World dealerships, and bore interest at one-month London Interbank Offered Rate (“LIBOR”) plus 2.05% as of September 30, 2018 and 2.15% as of December 31, 2017. LIBOR, as defined, was 2.10% at September 30, 2018 and 1.36% as of December 31, 2017. Borrowings are tied to specific vehicles and principal is due upon the sale of the related vehicle. In August 2015, FR entered into a Sixth Amended and Restated Credit Agreement for floor plan financing (as further amended, “Floor Plan Facility”) to extend the maturity date to August 2018. On July 1, 2016, FR entered into Amendment No. 1 to the Sixth Amended and Restated Credit Agreement for the Floor Plan Facility to, among other things, increase the available amount under the Floor Plan Facility from $880.0 million to $1.18 billion, amend the applicable borrowing rate margin on LIBOR and base rate loans ranging from 2.05% to 2.50% and 0.55% and 1.00%, respectively, based on the consolidated current ratio at FR, and extend the maturity date to June 30, 2019. On December 12, 2017, FR entered into a Seventh Amended and Restated Credit Agreement (the “Floor Plan Facility Amendment”), which amended the previous credit agreement governing our Floor Plan Facility and allows FR to borrow (a) up to $1.415 billion under a floor plan facility, (b) up to $15.0 million under a letter of credit facility and (c) up to a maximum amount outstanding of $35.0 million under the revolving line of credit, which maximum amount outstanding will decrease by $1.75 million on the last day of each fiscal quarter, commencing with the fiscal quarter ending March 31, 2019. In addition, the maturity of the Floor Plan Facility was extended to December 12, 2020. The Floor Plan Facility includes an offset account that allows the Company to transfer cash as an offset to the payable under the Floor Plan Facility. These transfers reduce the amount of liability outstanding under the floor plan notes payable that would otherwise accrue interest, while retaining the ability to transfer amounts from the offset account into the Company’s operating cash accounts. As a result of using the floor plan offset account, the Company experiences a reduction in floor plan interest expense in its consolidated statements of income. The credit agreement governing the Floor Plan Facility contains certain financial covenants. FR was in compliance with all debt covenants at September 30, 2018 and December 31, 2017. The following table details the outstanding amounts and available borrowings under the Floor Plan Facility as of September 30, 2018 and December 31, 2017 (in thousands): September 30, December 31, 2018 2017 Floor Plan Facility Notes payable - floor plan: Total commitment $ 1,415,000 $ 1,415,000 Less: borrowings, net (734,038) (974,043) Less: flooring line aggregate interest reduction account (147,481) (106,055) Additional borrowing capacity 533,481 334,902 Less: accounts payable for sold inventory (59,236) (31,311) Less: purchase commitments (39,723) (77,144) Unencumbered borrowing capacity $ 434,522 $ 226,447 Revolving line of credit: $ 35,000 $ 35,000 Less borrowings (24,403) — Additional borrowing capacity $ 10,597 $ 35,000 Letters of credit: Total commitment $ 15,000 $ 15,000 Less: outstanding letters of credit (9,369) (9,369) Additional letters of credit capacity $ 5,631 $ 5,631

Property and Equipment, net

Property and Equipment, net	9 Months Ended
	Sep. 30, 2018
Property and Equipment, net
Property and Equipment, net	4. Property and Equipment, net Property and equipment consisted of the following at (in thousands): September 30, December 31, 2018 2017 Land $ 69,123 $ 12,243 Buildings and improvements 56,164 17,791 Leasehold improvements - inclusive of right to use assets 131,228 107,354 Furniture and equipment 191,548 130,204 Software 79,852 68,087 Systems development and construction in progress 55,807 34,384 583,722 370,063 Less: accumulated depreciation and amortization (192,143) (172,041) Property and equipment, net $ 391,579 $ 198,022 The Company reclassified the categories of property and equipment, net and made an immaterial correction of the cost categories and accumulated depreciation amounts by increasing both items by approximately $10.2 million as of December 31, 2017. These changes had no impact on total property and equipment, net.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets
Goodwill and Intangible Assets	5. Goodwill and Intangible Assets Goodwill The following is a summary of changes in the Company’s goodwill by reportable segments for the nine months ended September 30, 2018 (in thousands): Consumer Services and Plans Retail Dealership Consolidated Balance as of December 31, 2017 $ 49,944 $ 36,467 $ 261,976 $ 348,387 Acquisitions (1) 376 3,579 36,745 40,700 Balance as of September 30, 2018 $ 50,320 $ 40,046 $ 298,721 $ 389,087 (1) See Note 11 — Acquisitions. The Company evaluates goodwill for impairment on an annual basis during the fourth quarter, or more frequently if events or changes in circumstances indicate that the Company’s goodwill or indefinite-lived intangible assets might be impaired. The Company assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then it is required to perform the quantitative impairment test by calculating the fair value of the reporting unit and comparing the fair value with the carrying amount of the reporting unit. If the carrying amount of a reporting unit exceeds its fair value, then the Company records an impairment of goodwill equal to the amount that the carrying amount of a reporting unit exceeds its fair value. The Company did not record any impairments of goodwill during the nine months ended September 30, 2018 and 2017. Intangible Assets Finite-lived intangible assets and related accumulated amortization consisted of the following at September 30, 2018 and December 31, 2017 (in thousands): September 30, 2018 Cost or Accumulated Fair Value Amortization Net Consumer Services and Plans: Membership and customer lists $ 9,140 $ (6,989) $ 2,151 Retail: Customer lists and domain names 3,915 (1,805) 2,110 Trademarks and trade names 29,304 (2,365) 26,939 Websites 6,074 (864) 5,210 $ 48,433 $ (12,023) $ 36,410 December 31, 2017 Cost or Accumulated Fair Value Amortization Net Consumer Services and Plans: Membership and customer lists $ 8,374 $ (6,431) $ 1,943 Retail: Customer lists and domain names 3,915 (1,048) 2,867 Trademarks and trade names 28,987 (901) 28,086 Websites 6,074 (263) 5,811 $ 47,350 $ (8,643) $ 38,707 The trademarks and trade names have useful lives of fifteen years. The membership and customer lists have weighted-average useful lives of approximately five years. The websites have useful lives of ten years. The Company reclassed the categories of intangible assets and made immaterial correcting adjustments to the previously recorded balances for the categories of intangibles assets as of December 31, 2017. These changes had no impact on total intangible assets.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2018
Long-Term Debt.
Long-Term Debt	6. Long-Term Debt Long-term debt consists of the following (in thousands): September 30, December 31, 2018 2017 Term Loan Facility (1) $ 1,161,389 $ 916,902 Less: current portion (11,991) (9,465) $ 1,149,398 $ 907,437 (1) Net of $5.6 million and $6.0 million of original issue discount at September 30, 2018 and December 31, 2017, respectively, and $14.1 million and $14.2 million of finance costs at September 30, 2018 and December 31, 2017, respectively. Senior Secured Credit Facilities On November 8, 2016, CWGS Group, LLC (the “Borrower”), a wholly owned subsidiary of CWGS, LLC, entered into a credit agreement (as amended from time to time, the “Credit Agreement”) for a new $680.0 million senior secured credit facility (the “Senior Secured Credit Facilities”) and used the proceeds to repay its previous senior secured credit facilities. The Senior Secured Credit Facilities, prior to the amendments described below, consisted of a seven-year $645.0 million Term Loan Facility (the “Term Loan Facility”) and a five-year $35.0 million revolving credit facility (the “Revolving Credit Facility”). On March 17, 2017, the borrower entered into a First Amendment to the Credit Agreement to increase the Term Loan Facility by $95.0 million to $740.0 million. The Term Loan Facility included mandatory amortization at 1.00% per annum in equal quarterly installments. On October 6, 2017, the Borrower entered into a Second Amendment (the “Second Amendment”) to the Credit Agreement. The Second Amendment, among other things, (i) increased the Borrower’s Term Loan Facility by $205.0 million to an outstanding principal amount of $939.5 million, (ii) amended the applicable margin to 2.00% from 2.75% per annum, in the case of base rate loans, and to 3.00% from 3.75% per annum, in the case of LIBOR loans, and (iii) increased the quarterly amortization payment to $2.4 million. On March 28, 2018, the Borrower entered into a Third Amendment (the “Third Amendment”) to the Credit Agreement. The Third Amendment, among other things, (i) reduced the applicable interest margin by 25 basis points to 1.75% from 2.00% per annum, in the case of base rate loans, and to 2.75% from 3.00% per annum, in the case of LIBOR loans, effective on April 6, 2018, (ii) increased the Borrower’s term loan facility by $250 million to a principal amount of $1.19 billion outstanding as of March 28, 2018, and (iii) increased the quarterly amortization payment to $3.0 million. The Credit Agreement requires the Borrower and its subsidiaries to comply on a quarterly basis with a maximum Total Leverage Ratio (as defined in the Credit Agreement), which covenant is only for the benefit of the revolving credit facility, during certain periods in which the aggregate amount of borrowings under the revolving credit facility (including swingline loans), letters of credit and unreimbursed letter of credit disbursements outstanding at such time (minus the lesser of (a) $5.0 million and (b) letters of credit outstanding) is greater than 30% of the aggregate amount of the Revolving Lenders’ Revolving Commitments, as defined in the Credit Agreement. On September 27, 2018, the Borrower entered into a Fourth Amendment (the “Fourth Amendment”) to the Credit Agreement. The Fourth Amendment increases the quarterly Total Leverage Ratio, from “3.00 to 1” to “3.75 to 1” for the period from December 31, 2016 to December 31, 2019 and from “2.75 to 1” to “3.50 to 1” for the period beginning March 31, 2020 and on the last day of each fiscal quarter ending thereafter. The Term Loan Facility includes mandatory amortization at 1.01% per annum in equal quarterly installments. Interest on the Term Loan Facility effective April 6, 2018 floats at the Company’s option at a) LIBOR multiplied by the statutory reserve rate (such product, the “Adjusted LIBOR Rate”), subject to a 0.75% floor, plus an applicable margin of 2.75%, or b) an Alternate Base Rate (“ABR”) equal to 1.75% per annum plus the greater of: (i) the prime rate published by The Wall Street Journal (the “WSJ Prime Rate”), (ii) federal funds effective rate plus 0.50%, or (iii) one-month Adjusted LIBOR Rate plus 1.00%, subject to a 1.75% floor. Interest on borrowings under the Revolving Credit Facility is, at the Company’s option, of a) 3.25% to 3.50% per annum subject to a 0.75% floor in the case of a Eurocurrency loan, or b) 2.25% to 2.50% per annum plus the greater of the WSJ Prime Rate, federal funds effective rate plus 0.50%, or one-month Adjusted LIBOR Rate plus 1.00% in the case of an ABR loan, based on the Company’s Total Leverage Ratio. The Company also pays a commitment fee of 0.5% per annum on the unused amount of the Senior Secured Credit Facility. Reborrowings under the Term Loan Facility are not permitted. The Term Loan Facility requires mandatory principal payments in equal quarterly installments of $1.9 million starting March 31, 2017 through September 30, 2017, $2.4 million on December 31, 2017 and $3.0 million thereafter. The September 30, 2018 payment was paid on October 1, 2018, per the Credit Agreement. Following the end of each fiscal year, commencing with the fiscal year ending December 31, 2017, the Company is required to prepay the term loan borrowings in an aggregate amount equal to 50% of excess cash flow, as defined in the Credit Agreement, for such fiscal year. The required percentage prepayment of excess cash flow is reduced to 25% if the Total Leverage Ratio is 1.50 to 1.00 or greater but less than 2.00 to 1.00. If the Total Leverage Ratio is less than 1.50 to 1.00, no prepayment of excess cash flow is required. The Revolving Credit Facility matures on November 8, 2021, and the Term Loan Facility matures on November 8, 2023. The funds available under the Revolving Credit Facility may be utilized for borrowings or letters of credit; however, a maximum of $15.0 million may be allocated to such letters of credit. As of September 30, 2018, the average interest rate on the term loan debt was 4.87%. As of September 30, 2018 and December 31, 2017, the Company had available borrowings of $32.2 million and $31.8 million, respectively, and letters of credit in the aggregate amount of $2.8 million and $3.2 million outstanding, respectively, under the Revolving Credit Facility. As of September 30, 2018 and December 31, 2017, the principal balance of $1,181.1 million and $937.1 million, respectively, was outstanding under the Term Loan Facility and no amounts were outstanding on the Revolving Credit Facility in either period. CWGS, LLC and CWGS Group, LLC have no revenue-generating operations of their own. Their ability to meet the financial obligations associated with the Senior Secured Credit Facilities is dependent on the earnings and cash flows of its operating subsidiaries, primarily Good Sam Enterprises, LLC and FR, and their ability to upstream dividends. The Senior Secured Credit Facilities are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by each of the Company’s existing and future domestic restricted subsidiaries with the exception of FreedomRoads Intermediate Holdco, LLC, the direct parent of FR, and FR and its subsidiaries. The Credit Agreement contains certain restrictive covenants including, but not limited to, mergers, changes in the nature of the business, acquisitions, additional indebtedness, sales of assets, investments, and the prepayment of dividends subject to certain limitations and minimum operating covenants. The Company was in compliance with all debt covenants at September 30, 2018 and December 31, 2017.

Right to Use Assets and Liabili

Right to Use Assets and Liabilities	9 Months Ended
	Sep. 30, 2018
Right to Use Assets and Liabilities
Right to Use Liabilities	7. Right to Use Assets and Liabilities The Company leases operating facilities throughout the United States. The Company analyzes all leases in accordance with ASC 840 — Leases. The Company has included the right to use assets in property and equipment, net, as follows (in thousands): September 30, December 31, 2018 2017 Right to use assets $ 10,673 $ 10,673 Accumulated depreciation (1,120) (926) $ 9,553 $ 9,747 The following is a schedule by year of the future changes in the right to use liabilities as of September 30, 2018 (in thousands): 2018 $ 218 2019 486 2020 486 2021 487 2022 487 Thereafter (1) 13,260 Total minimum lease payments 15,424 Amounts representing interest (5,350) Present value of net minimum right to use liability payments $ 10,074 (1) Includes $4.8 million of scheduled derecognition of right to use liabilities upon the reduction in lease deposits to less than two months’ rent.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2018
Fair Value Measurements
Fair Value Measurements	8. Fair Value Measurements Accounting guidance for fair value measurements establishes a three tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. For cash and cash equivalents; accounts receivable; other current assets; accounts payable; notes payable — floor plan, net; and other current liabilities the amounts reported in the accompanying Unaudited Condensed Consolidated Balance Sheets approximate fair value due to their short-term nature or the existence of variable interest rates that approximate prevailing market rates. There have been no transfers of assets or liabilities between the fair value measurement levels and there were no material re-measurements to fair value during 2018 and 2017 of assets and liabilities that are not measured at fair value on a recurring basis. The following table presents the reported carrying value and fair value information for the Company’s debt instruments. The fair values shown below for the Term Loan Facility, as applicable, are based on quoted prices in the inactive market for identical assets (Level 2). Fair Value 9/30/2018 12/31/2017 ($ in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Term Loan Facility Level 2 $ 1,161,389 $ 1,161,954 $ 916,902 $ 953,269

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies.
Commitments and Contingencies	9. Commitments and Contingencies The Company holds certain property and equipment under rental agreements and operating leases that have varying expiration dates. A majority of its operating facilities are leased from unrelated parties throughout the United States. From time to time, the Company is involved in litigation arising in the normal course of business operations. On October 19, 2018, a purported stockholder of the Company filed a putative class action lawsuit, captioned Ronge v. Camping World Holdings, Inc. et al., in the United States District Court for the Northern District of Illinois against the Company, certain of its officers and directors, and Crestview Partners II GP, L.P. and Crestview Advisors, L.L.C. On October 25, 2018, a different putative stockholder of the Company filed a putative class action lawsuit, captioned Strougo v. Camping World Holdings, Inc. et al., in the United States District Court for the Northern District of Illinois against the Company, certain of its officers and directors, and Crestview Partners II GP, L.P. and Crestview Advisors, L.L.C. Both complaints allege that the Company violated Section 10(b) of the Securities Exchange Act of 1934, as amended, and rule 10b-5 thereunder, by making allegedly materially misleading statements or omitting material facts necessary to make certain statements not misleading related to the business, operations, and management of the Company. Both lawsuits allege that certain of the Company’s officers and directors violated Section 20(a) of the Securities Exchange Act of 1934, as amended, by allegedly acting as controlling persons of the Company. The lawsuits bring claims on behalf of a putative class of purchasers of the Company’s Class A common stock between March 8, 2017 and August 7, 2018, and seek compensatory damages, attorneys’ fees and costs, and any equitable or injunctive relief the court deems just and proper. The Company believes it has meritorious defenses to the claims of the plaintiffs and members of the putative class, and any liability for the alleged claims is not currently probable or reasonably estimable.

Cash Flows

Cash Flows	9 Months Ended
	Sep. 30, 2018
Statements of Cash Flows
Statements of Cash Flows	10. Statement of Cash Flows Supplemental disclosures of cash flow information for the following periods (in thousands): Nine Months Ended September 30, September 30, 2018 2017 Cash paid during the period for: Interest $ 70,326 $ 47,374 Income taxes 17,408 25,660 Non-cash investing activities: Vehicles transferred to property and equipment from inventory 780 1,605 Portion of acquisition purchase price paid through issuance of Class A common stock — 5,720 Landlord paid tenant improvements on behalf of the Company 28,431 857 Derecognition of non-tenant improvements 7,018 — Capital expenditures in accounts payable and accrued liabilities 6,051 6,595 Non-cash financing activities: Par value of Class A common stock issued in exchange for common units in CWGS, LLC 3 66 Par value of Class A common stock issued for vested restricted stock units 1 — Par value of Class A common stock issued for acquisition — 1

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2018
Acquisitions
Acquisitions	11. Acquisitions Dealerships and Consumer Shows During the nine months ended September 30, 2018 and 2017, subsidiaries of the Company acquired the assets of multiple dealership locations and consumer shows. The Company used a combination of cash, floor plan financing, proceeds from the May 2017 Public Offering (defined and described in Note 14 — Stockholders’ Equity), and additional borrowings on the Term Loan Facility in March 2017 and 2018 (see Note 6 — Long-term Debt) to complete the acquisitions. The Company considers acquisitions of independent dealerships to be a fast and capital efficient alternative to opening new retail locations to expand its business and grow its customer base. The Company acquires consumer shows as another channel for increasing its customer base. Additionally, the Company believes that its experience and scale allow it to operate these acquired dealerships and consumer shows more efficiently. The acquired businesses were recorded at their estimated fair values under the acquisition method of accounting. The balance of the purchase prices in excess of the fair values of net assets acquired were recorded as goodwill. Separately from the business combinations, for the nine months ended September 30, 2018 and 2017, the Company purchased real property of $100.1 million and $16.8 million, respectively, of which $23.6 million and $12.8 million, respectively, was from parties related to the sellers of the dealership businesses. The estimated fair values of the assets acquired and liabilities assumed for the acquisitions of dealerships and consumer shows consist of the following: Nine Months Ended September 30, ($ in thousands) 2018 2017 Tangible assets (liabilities) acquired (assumed): Cash and cash equivalents $ 2,648 $ — Contracts in transit 103 — Accounts receivable 103 1,306 Inventory 36,257 98,869 Prepaid expenses and other assets 79 Property and equipment 402 835 Other assets 48 72 Accounts payable (64) — Accrued liabilities (1,081) (3,019) Deferred revenues and gains (168) — Total tangible net assets acquired 38,327 98,063 Intangible assets acquired: Membership and customer lists 766 793 Total intangible assets acquired 766 793 Goodwill 37,145 143,788 Purchase price 76,238 242,644 Cash and cash equivalents acquired (2,648) — Cash paid for acquisition, net of cash acquired 73,590 242,644 Inventory purchases financed via floor plan (29,365) (79,321) Cash payment net of floor plan financing $ 44,225 $ 163,323 The fair values above are preliminary relating to the nine months ended September 30, 2018 as they are subject to measurement period adjustments for up to one year from the date of acquisition as new information is obtained about facts and circumstances that existed as of the acquisition date. The primary items that generated the goodwill are the value of the expected synergies between the acquired businesses and the Company and the acquired assembled workforce, neither of which qualify for recognition as a separately identified intangible asset. For the nine months ended September 30, 2018 and 2017, acquired goodwill of $20.7 million and $143.8 million, respectively, is expected to be deductible for tax purposes. Included in the nine months ended September 30, 2018 and 2017 consolidated financial results were $55.1 million and $210.7 million of revenue, respectively, and $3.5 million of pre-tax loss and $13.8 million of pre-tax income, respectively, of the acquired dealerships and consumer shows from the applicable acquisition dates. Pro forma information on these acquisitions has not been included, because the Company has deemed them to not be individually or cumulatively material. Retail On May 26, 2017, CWI, Inc. (“CWI”), an indirect subsidiary of the Company, completed the acquisition of certain assets of the Gander Mountain Company (“Gander Mountain”) and its Overton’s, Inc. (“Overton’s”) boating business through a bankruptcy auction that took place in April 2017 for $35.4 million in cash and $1.0 million of contingent consideration. Prior to the acquisition, Gander Mountain operated 160 retail locations and an e-commerce business that serviced the hunting, camping, fishing, shooting sports, and outdoor markets. Overton’s operated two retail locations and an e-commerce business that services the marine and watersports markets. The assets acquired included the right to designate any real estate leases for assignment to CWI or other third parties (the “Designation Rights”), other agreements CWI could elect to assume, intellectual property rights, operating systems and platforms, certain distribution center equipment, Overton’s inventory, the Gander Mountain and Overton’s e-commerce businesses, and fixtures and equipment for Overton’s two retail locations and corporate operations. Furthermore, CWI had committed to exercise Designation Rights and take an assignment of no fewer than 15 Gander Mountain retail leases on or before October 6, 2017, in addition to the two Overton’s retail leases assumed at the closing of the acquisition. The Designation Rights expired on October 6, 2017, which was immediately after CWI assumed the minimum 15 additional Gander Mountain retail leases. CWI also assumed certain liabilities, such as cure costs for leases and other agreements it elected to assume, accrued time off for employees retained by CWI and retention bonuses payable to certain key Gander Mountain employees retained by CWI. The cure costs for the minimum 15 Gander Mountain leases assumed under the Designation Rights were $1.0 million and recorded as contingent consideration. As of September 30, 2018, the Company had opened 61 Gander Mountain locations under the rebranded “Gander Outdoors” name as part of its initial rollout after the bankruptcy auction, and closed one location. The Company expects to open an additional 9 Gander Outdoors locations during its initial rollout, which is expected to be substantially complete by December 31, 2018. With the large quantity of stores to be opened in a relatively short period of time for the initial rollout of Gander Outdoors, the Company deemed it necessary to staff the appropriate levels of labor for functions such as management, merchandise procurement, and distribution center to open these retail locations in the compressed timeframe of the initial rollout plan. Many of these expenses were expensed as incurred before retail locations were opened and began to generate revenues. On August 17, 2017, Camping World Inc. (“CW”) an indirect subsidiary of the Company, completed the acquisition of all of the outstanding capital stock and outstanding debt of Active Sports, Inc. (“TheHouse.com”), which specialized in bikes, sailboards, skateboards, wakeboards, snowboards, and outdoor gear. The purchase price consisted of $30.0 million in cash, $5.7 million in restricted shares of Class A common stock of the Company, and the purchase or extinguishment of $35.3 million of TheHouse.com’s debt, including accrued interest. On September 22, 2017, W82, LLC, an indirect subsidiary of the Company, completed the acquisition of substantially all of the assets of EIGHTEEN0THREE LLC, dba W82 (“W82”), which specializes in snowboarding, skateboarding, longboarding, swimwear, footwear, apparel and accessories. The purchase price consisted of $0.6 million in cash and the extinguishment of $1.5 million of W82’s debt, including accrued interest. On January 30, 2018 and April 19, 2018, indirect subsidiaries of the Company acquired substantially all of the assets of Earth Sports LLC, dba Erehwon Mountain Outfitters (“Erehwon”) and Rock Creek Outfitters, Inc. (“Rock Creek”), respectively, for $3.5 million and $5.2 million in cash, respectively. These businesses are specialty retailers of outdoor gear and apparel. The Company believes these businesses are complementary to its existing businesses and will allow for cross marketing of the Company’s consumer services and plans to a wider customer base. The estimated fair values of the assets acquired and liabilities assumed for the acquisition of outdoor and active sports retail businesses consist of the following: Nine Months Ended September 30, ($ in thousands) 2018 2017 Tangible assets (liabilities) acquired (assumed): Cash and cash equivalents $ — $ 501 Accounts receivable — 159 Inventory 4,599 47,129 Prepaid expenses and other assets 76 1,169 Property and equipment 416 9,530 Other assets — — Accounts payable — (7,582) Accrued liabilities (359) (1,990) Other liabilities — (6,016) Total tangible net assets acquired 4,732 42,900 Intangible assets acquired: Trademarks and trade names 318 28,839 Membership and customer lists — 500 Websites — 5,990 Total intangible assets acquired 318 35,329 Goodwill 3,580 31,509 Purchase price 8,630 109,738 Cash and cash equivalents acquired — (501) Contingent consideration unpaid at September 30, 2017 — (1,021) Non-cash consideration - Class A shares issued — (5,720) Cash paid for acquisition, net of cash acquired $ 8,630 $ 102,496 The fair values above are preliminary relating to the nine months ended September 30, 2018 as they are subject to measurement period adjustments for up to one year from the date of acquisition as new information is obtained about facts and circumstances that existed as of the acquisition date. The primary items that generated the goodwill are the value of the expected synergies between the acquired businesses and the Company and the acquired assembled workforce, neither of which qualify for recognition as a separately identified intangible asset. For the nine months ended September 30, 2018 and 2017, acquired goodwill of $3.6 million and $6.2 million, respectively, is expected to be deductible for tax purposes. Included in the nine months ended September 30, 2018 and 2017 consolidated financial results were $10.4 million and $26.0 million of revenue, respectively, and $0.4 million and $11.5 million of pre-tax loss, respectively, of the acquired outdoor and active sports retail locations from the applicable acquisition dates. Pro forma information on these acquisitions has not been included, because the Company has deemed them to not be individually or cumulatively material.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Taxes.
Income Taxes	12. Income Taxes CWH is organized as a Subchapter C corporation and, as of September 30, 2018, is a 41.8% owner of CWGS, LLC (see Note 14 — Stockholders’ Equity and Note 15 — Non-Controlling Interests). CWGS, LLC is organized as a limited liability company and treated as a partnership for federal tax purposes, with the exception of Americas Road and Travel Club, Inc., Camping World and FreedomRoads RV, Inc. (“FRRV”) and their wholly-owned subsidiaries, which are Subchapter C corporations. On December 22, 2017, the U.S. enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (“2017 Tax Act”). The 2017 Tax Act significantly revised the U.S. corporate income tax by, among other things, lowering the statutory corporate tax rate from 35% to 21% and eliminating certain deductions. The 2017 Tax Act also enhanced and extended through 2026 the option to claim accelerated depreciation deductions on qualified property. As of September 30, 2018, the Company had not completed its accounting for the tax effects of the enactment of the 2017 Tax Act on its tax accruals. However, the Company has reasonably estimated the effects of the 2017 Tax Act and recorded provisional amounts in its financial statements as of September 30, 2018 and December 31, 2017. The final impact of the 2017 Tax Act may differ from these estimates, due to, among other things, changes in interpretations, analysis and assumptions made by management, additional guidance that may be issued by the U.S. Department of the Treasury and the Internal Revenue Service, and any updates or changes to estimates the Company has utilized to calculate the transition impact. Pursuant to the SEC Staff Accounting Bulletin No. 118 (“SAB 118”), the Company's measurement period for implementing the accounting changes required by the 2017 Tax Act will close before December 22, 2018 and the Company will complete the accounting under ASC Topic 740, Income Taxes, in the next reporting period prior to the close of the measurement period provided under SAB 118. Shortly after the 2017 Tax Act was enacted, the SEC staff issued SAB 118 to address the application of GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the 2017 Tax Act. In accordance with SAB 118, the Company has determined that the $118.4 million of the deferred tax expense recorded in connection with the remeasurement of certain deferred tax assets and liabilities during the three months ended December 31, 2017 was a provisional amount and a reasonable estimate at December 31, 2017. At September 30, 2018, this estimate was decreased by $1.4 million primarily as a result of the filing of the Company’s tax returns related to the allocation of taxable income to non-controlling interests, and adjustments made to other deferred tax assets. Further, in connection with its adjusted estimate of the December 31, 2017 tax return amounts, the Company as of September 30, 2018 increased its income tax receivable by approximately $6.5 million, increased its Tax Receivable Agreement liability by approximately $2.0 million, and decreased its deferred income tax assets by approximately $2.2 million. In connection with this adjustment, the Company also made a corresponding adjustment to equity for the impact to distributions payable under its Tax Receivable Agreement. As the Company completes its analysis of the 2017 Tax Act, collects and prepares necessary data, and interprets any additional guidance issued by the U.S. Treasury Department, the IRS, and other standard-setting bodies, the Company may continue to make adjustments to the provisional amounts. Any subsequent adjustment to these amounts will be finalized in the next reporting period prior to the close of the measurement period provided under SAB 118. For the three months ended September 30, 2018 and 2017, the Company’s effective income tax rate was 19.2% and 9.1%, respectively. For the nine months ended September 30, 2018 and 2017, the Company’s effective income tax rate was 17.3% and 10.6%, respectively. The amount of income tax expense and the effective income tax rate increased in 2018 partially due to operating losses recorded by its retail segment for which no tax benefit was recognized on account of the valuation allowance recorded against such losses, and partially due to an increased ownership percentage of CWGS, LLC for which the Company is subject to U.S., federal and state taxes on its allocable share of income of CWGS, LLC. The Company's effective tax rate for the three months ended September 30, 2018 was lower than the federal statutory rate of 21.0% primarily due to a portion of the Company’s earnings being attributable to non-controlling interests in limited liability companies which are not subject to corporate level taxes. For the three and nine months ended September 30, 2018, measurement period adjustments discussed above increased the effective income tax rate by 188 basis points for the three months ended September 30, 2018, and decreased the effective income tax rate by 81 basis points for the nine months ended September 30, 2018. The Company's effective tax rate for the three months ended September 30, 2017 was significantly lower than the federal statutory rate of 35.0% primarily due to a portion of the Company’s earnings being attributable to non-controlling interests in limited liability companies which are not subject to corporate level taxes. The Company evaluates its deferred tax assets on a quarterly basis to determine if they can be realized and establishes valuation allowances when it is more likely than not that all or a portion of the deferred tax assets may not be realized. At September 30, 2018 and December 31, 2017, the Company determined that all of its deferred tax assets, except those pertaining to Camping World and the direct investment in CWGS, LLC, are more likely than not to be realized. The Company maintains a full valuation allowance against the deferred tax assets of Camping World, since it was determined that it would have insufficient taxable income in the current or carryforward periods under the tax laws to realize the future tax benefits of its deferred tax assets. The Company also maintains a valuation allowance against the portion of the deferred tax asset pertaining to its direct investment in CWGS, LLC. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements related to a particular tax position are measured based on the largest benefit that has a greater than a 50% likelihood of being realized upon settlement. The amount of unrecognized tax benefits is adjusted as appropriate for changes in facts and circumstances, such as significant amendments to existing tax law, new regulations or interpretations by the taxing authorities, new information obtained during a tax examination, or resolution of an examination. As of September 30, 2018, the Company recorded $0.3 million of uncertain tax positions and none at December 31, 2017. The Company recorded $0.1 million of interest and penalties relating to income taxes for the three months and nine months ended September 30, 2018, and none for the three or nine months ended September 30, 2017. On October 6, 2016, the Company entered into a tax receivable agreement (the “Tax Receivable Agreement”) that provides for the payment by the Company to the Continuing Equity Owners and Crestview Partners II GP, L.P. of 85% of the amount of tax benefits, if any, the Company actually realizes, or in some circumstances is deemed to realize, as a result of (i) increases in the tax basis from the purchase of common units from Crestview Partners II GP, L.P. in exchange for Class A common stock in connection with the consummation of the IPO and the related transactions and any future redemptions that are funded by the Company and any future redemptions or exchanges of common units by Continuing Equity Owners as described above and (ii) certain other tax benefits attributable to payments made under the Tax Receivable Agreement. The above payments are predicated on CWGS, LLC making an election under Section 754 of the Internal Revenue Code effective for each tax year in which a redemption or exchange (including a deemed exchange) of common units for cash or stock occur. These tax benefit payments are not conditioned upon one or more of the Continuing Equity Owners or Crestview Partners II GP, L.P. maintaining a continued ownership interest in CWGS, LLC. In general, the Continuing Equity Owners’ or Crestview Partners II GP, L.P.’s rights under the Tax Receivable Agreement are assignable, including to transferees of its common units in CWGS, LLC (other than the Company as transferee pursuant to a redemption or exchange of common units in CWGS, LLC). The Company expects to benefit from the remaining 15% of the tax benefits, if any, which may be realized. During the nine months ended September 30, 2018 and 2017, 215,486 and 6,525,610 common units in CWGS, LLC, respectively, were exchanged for Class A common stock subject to the provisions of the Tax Receivable Agreement. The Company recognized a liability for the Tax Receivable Agreement payments due to those parties that redeemed common units, representing 85% of the aggregate tax benefits the Company expects to realize from the tax basis increases related to the exchange, after concluding it was probable that the Tax Receivable Agreement payments would be paid based on estimates of future taxable income. As of September 30, 2018 and December 31, 2017, the amount of Tax Receivable Agreement payments due under the Tax Receivable Agreement was $133.7 million and $137.7 million, respectively, of which $10.4 million and $8.1 million, respectively, were included in current portion of the Tax Receivable Agreement liability in the Condensed Consolidated Balance Sheets.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2018
Related Party Transactions
Related Party Transactions	13. Related Party Transactions Transactions with Directors, Equity Holders and Executive Officers FreedomRoads leases various retail locations from managers and officers. During the three months ended September 30, 2018 and 2017, the related party lease expense for these locations was $0.5 million and $0.5 million, respectively. During the nine months ended September 30, 2018 and 2017, the related party lease expense for these locations was $1.5 million and $1.4 million, respectively. In January 2012, FreedomRoads entered into a lease (the “Original Lease”) with respect to the Company’s Lincolnshire, Illinois offices, which was amended in March 2013 in connection with the Company’s leasing of additional premises within the same office building (the “Expansion Lease”). The Original Lease is payable in 132 monthly payments of base rent equal to approximately $29,000, commencing April 2013, subject to annual increases. The Expansion Lease is payable in 132 monthly payments of base rent equal to approximately $2,500, commencing May 2013, subject to annual increases. Marcus A. Lemonis, the Company’s Chairman and Chief Executive Officer, has personally guaranteed both leases. During the three months ended September 30, 2018 and 2017, the Company made payments of approximately $180,000 and $193,000, respectively, in connection with the Original Lease, which included approximately $79,000 and $94,000, respectively, for common area maintenance charges on the Original Lease, and the Company made payments of approximately $9,000 and $8,000, respectively, in connection with the Expansion Lease. During the nine months ended September 30, 2018 and 2017, the Company made payments of approximately $512,000 and $546,000, respectively, in connection with the Original Lease, which included approximately $212,000 and $252,000, respectively, for common area maintenance charges on the Original Lease, and the Company made payments of approximately $26,000 and $25,000, respectively, in connection with the Expansion Lease. The Company paid Kaplan, Strangis and Kaplan, P.A., of which Andris A. Baltins is a member, $0.2 million and $0.3 million during the nine months ended September 30, 2018 and 2017, respectively, for legal services. Other Transactions The Company does business with certain companies in which Mr. Lemonis has a direct or indirect material interest. The Company purchased fixtures for interior store sets at the Company’s retail locations from Precise Graphix, LLC (“Precise Graphix”). Mr. Lemonis has a 33% economic interest in Precise Graphix and the Company paid Precise Graphix $0.8 million and $0.5 million for the three months ended September 30, 2018 and 2017, respectively, and $4.4 million and $1.7 million for the nine months ended September 30, 2018 and 2017, respectively. The Company purchased point of purchase and visual merchandise displays from JD Custom Design (“JD Custom”) for use in Camping World’s retail store operations. Mr. Lemonis is a holder of 52% of the combined voting power in JD Custom and the Company paid JD Custom $0.1 million and $0 million for the three months ended September 30, 2018 and 2017,respectively, and paid $0.4 million and $0 for the nine months ended September 30, 2018 and 2017, respectively. Cumulus Media Inc. (“Cumulus Media”) has provided radio advertising for the Company through Cumulus Media’s subsidiary, Westwood One, Inc. Crestview Partners II GP, L.P., an affiliate of CVRV, was the beneficial owner of Cumulus Media’s Class A common stock, until Crestview Partners II GP, L.P.’s most recently filed Schedule 13D amendment with respect to Cumulus Media on June 6, 2018 advised of no further beneficial ownership of Cumulus Media stock. The Company incurred expense from Cumulus Media for the aforementioned advertising services of $0.1 million and $0.4 million for the three months ended September 30, 2018 and 2017, respectively, and $0.2 million and $0.4 million for the nine months ended September 30, 2018, respectively. The Company does business with certain companies in which Stephen Adams, a member of the Company’s board of directors, has a direct or indirect material interest. The Company from time to time purchases advertising services from Adams Radio of Fort Wayne LLC (“Adams Radio”), in which Mr. Adams has an indirect 90% interest. The Company paid Adams Radio $0.0 million for both the three months ended September 30, 2018 and 2017, respectively, and $0.2 million and $0 for the nine months ended September 30, 2018 and 2017, respectively.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity
Stockholders' Equity	14. Stockholders’ Equity Reorganization Transactions In connection with the IPO on October 6, 2016, the Company completed the following Reorganization Transactions: · The Company amended and restated its certificate of incorporation which, among other things, authorized preferred stock and three classes of common stock. The Class A common stock entitles the holders to receive dividends; distributions upon the liquidation, dissolution, or winding up of the Company; and have voting rights. The Class B common stock and Class C common stock entitles the holders to voting rights, which in certain cases are disproportionate to the voting rights of the Class A common stock; however, the holders of Class B common stock and Class C common stock are not entitled to receive dividends or distributions upon the liquidation, dissolution, or winding up of the Company; · CWGS, LLC amended and restated the limited liability company agreement of CWGS, LLC (the “LLC Agreement” and the “Recapitalization”), which among other things, (i) provided for a new single class of common membership interests in CWGS, LLC, the common units, and (ii) exchanged all of the then-existing membership interests in CWGS, LLC to common units. The holders of the common units may elect to exchange or redeem the common units for newly-issued shares of the Company’s Class A common stock or cash at the Company’s election, subject to certain restrictions. If the redeeming or exchanging party also holds Class B common stock, then simultaneously with the payment of cash or newly-issued shares of Class A common stock, as applicable, in connection with a redemption or exchange of common units, a number of shares of the Company’s Class B common stock will be cancelled for no consideration on a one-for-one basis with the number of common units so redeemed or exchanged; and · The Company acquired, by merger, an entity that was owned by former indirect members of CWGS, LLC (the “Former Equity Owners”), for which the Company issued 7,063,716 shares of Class A common stock as merger consideration (the “CWH BR Merger”). The only significant asset held by the merged entity prior to the CWH BR Merger was 7,063,716 common units of CWGS, LLC and a corresponding number of shares of CWH Class B common stock. Upon consummation of the CWH BR Merger, the Company canceled the 7,063,716 shares of Class B common stock and recognized the 7,063,716 of common units of CWGS, LLC at carrying value, as the CWH BR Merger was considered to be a transaction between entities under common control. As required by the LLC Agreement, the Company must, at all times, maintain a one-to-one ratio between the number of outstanding shares of Class A common stock and the number of common units of CWGS, LLC owned by CWH (subject to certain exceptions for treasury shares and shares underlying certain convertible or exchangeable securities). Immediately following the completion of the Reorganization Transactions and IPO, CWH owned 22.6% of CWGS, LLC and the remaining 77.4% of CWGS, LLC was owned by the Continuing Equity Owners (see Note 15 — Non-Controlling Interests). As a result of the Reorganization Transactions, CWH became the sole managing member of CWGS, LLC and, although CWH had a minority economic interest in CWGS, LLC, CWH had the sole voting power in, and controlled the management of, CWGS, LLC. Accordingly, the Company consolidated the financial results of CWGS, LLC and reported a non-controlling interest in its consolidated financial statements. May 2017 Public Offering On May 31, 2017, the Company completed a public offering (the “May 2017 Public Offering”) in which the Company sold 4,000,000 shares of the Company’s Class A common stock at a public offering price of $27.75 per share. The Company received $106.6 million in proceeds, net of underwriting discounts and commissions, which were used to purchase 4,000,000 newly-issued common units from CWGS, LLC at a price per unit equal to the public offering price per share of Class A common stock in the May 2017 Public Offering, less underwriting discounts and commissions. In addition, on June 5, 2017, the underwriters exercised their option to purchase an additional 600,000 shares of Class A common stock. On June 9, 2017, the Company closed on the purchase of the additional 600,000 shares of Class A common stock and received $16.0 million in additional proceeds, net of underwriting discounts and commissions, which were used to purchase 600,000 newly-issued common units from CWGS, LLC at a price per unit equal to the public offering price per share of Class A common stock in the May 2017 Public Offering, less underwriting discounts and commissions. In connection with the May 2017 Public Offering, CVRV Acquisition LLC and CVRV Acquisition II LLC (“May 2017 Selling Stockholders”), each affiliates of Crestview, sold 5,500,000 shares of the Company’s Class A common stock at the same public offering price of $27.75 per share. CVRV Acquisition LLC redeemed 4,323,083 common units of CWGS, LLC for 4,323,083 shares of Class A common stock, which it sold in the May 2017 Public Offering along with 1,176,917 shares of Class A shares that CVRV Acquisition II LLC already held as a result of the Reorganization Transactions. Pursuant to the terms of the LLC Agreement, 4,323,083 shares of the Company’s Class B common stock registered in the name of CVRV Acquisition LLC were cancelled for no consideration on a one-for-one basis with the number of common units redeemed. In addition, on June 5, 2017, the underwriters exercised their option to purchase an additional 825,000 shares of Class A common stock from the May 2017 Selling Stockholders, in conjunction with their exercise of their option to purchase the additional 600,000 shares from the Company as described above. On June 9, 2017, the May 2017 Selling Stockholders closed on the sale of the additional 825,000 shares of Class A common stock. CVRV Acquisition LLC redeemed 648,462 common units of CWGS, LLC for 648,462 shares of Class A common stock, which it sold in the May 2017 Public Offering along with 176,538 shares of Class A shares that CVRV Acquisition II LLC already held as a result of the Reorganization Transactions. Pursuant to the terms of the LLC Agreement, 648,462 shares of the Company’s Class B common stock registered in the name of CVRV Acquisition LLC were cancelled for no consideration on a one-for-one basis with the number of common units redeemed. The Company did not receive any proceeds relating to the sale of the May 2017 Selling Stockholders’ shares. October 2017 Public Offering On October 30, 2017, the Company completed a public offering (the “October 2017 Public Offering”) in which, CVRV Acquisition LLC, CVRV Acquisition II LLC and Crestview Advisors, LLC, each affiliates of Crestview, and CWGS Holding, LLC, a wholly owned subsidiary of ML Acquisition Company, LLC, which is indirectly owned by each of Stephen Adams, a member of Camping World’s board of directors, and Marcus Lemonis, Camping World’s Chairman and Chief Executive Officer (“October 2017 Selling Stockholders”) sold 6,700,000 shares of the Company’s Class A common stock at a public offering price of $40.50 per share. CVRV Acquisition LLC redeemed 4,715,529 common units of CWGS, LLC for 4,715,529 newly-issued shares of Class A common stock, which it sold in the October 2017 Public Offering along with 1,283,756 and 715 shares of Class A shares that CVRV Acquisition II LLC and Crestview Advisors, LLC, respectively, already held as a result of the Reorganization Transactions. Additionally, CWGS Holding, LLC redeemed 700,000 common units of CWGS, LLC for 700,000 shares of Class A common stock, which it sold in the October 2017 Public Offering. Pursuant to the terms of the LLC Agreement, 4,715,529 and 700,000 shares of the Company’s Class B common stock registered in the names of CVRV Acquisition LLC and CWGS Holding, LLC, respectively, were cancelled for no consideration on a one-for-one basis with the number of common units redeemed. In addition, the underwriters exercised their option to purchase an additional 963,799 shares of Class A common stock from the October 2017 Selling Stockholders, in conjunction with their exercise of their option to purchase up to an additional 1,005,000 shares from the October 2017 Selling Stockholders. On November 1, 2017, the October 2017 Selling Stockholders closed on the sale of the additional 963,799 shares of Class A common stock. CVRV Acquisition LLC and CWGS Holding, LLC redeemed 678,331 and 100,695 common units of CWGS, LLC, for 678,331 and 100,695 newly issued shares of Class A common stock, respectively, which they sold in the October 2017 Public Offering along with 184,669 and 104 shares of Class A shares that CVRV Acquisition II LLC and Crestview Advisors, LLC, respectively, already held as a result of the Reorganization Transactions. Pursuant to the terms of the LLC Agreement, 678,331 and 100,695 shares of the Company’s Class B common stock registered in the names of CVRV Acquisition LLC and CWGS Holding, LLC, respectively, were cancelled for no consideration on a one-for-one basis with the number of common units redeemed. The Company did not receive any proceeds relating to the October 2017 Public Offering. Short-Swing Profit Disgorgement In May 2018, the Company received an aggregate of $557,000 from short-swing profit disgorgement remitted by ML Acquisition Company, LLC, of which Marcus A. Lemonis, Chairman and Chief Executive Officer of the Company, is the sole director, which is included as an increase to additional paid-in capital in the unaudited condensed consolidated statement of stockholders’ equity and as a financing activity in the unaudited condensed consolidated statement of cash flows.

Non-Controlling Interests

Non-Controlling Interests	9 Months Ended
	Sep. 30, 2018
Non-Controlling Interests
Non-Controlling Interests	15. Non-Controlling Interests In connection with the Reorganization Transactions, described in Note 14 — Stockholders’ Equity, CWH became the sole managing member of CWGS, LLC and, as a result, consolidates the financial results of CWGS, LLC. The Company reports a non-controlling interest representing the common units of CWGS, LLC held by Continuing Equity Owners. Changes in CWH’s ownership interest in CWGS, LLC while CWH retains its controlling interest in CWGS, LLC will be accounted for as equity transactions. As such, future redemptions or direct exchanges of common units of CWGS, LLC by the Continuing Equity Owners will result in a change in ownership and reduce the amount recorded as non-controlling interest and increase additional paid-in capital. As of September 30, 2018 and December 31, 2017, there were 88,731,980 and 88,639,567 common units of CWGS, LLC outstanding, respectively, of which CWH owned 37,056,971 and 36,749,072 common units of CWGS, LLC, respectively, representing 41.8% and 41.5% ownership interests in CWGS, LLC, respectively, and the Continuing Equity Owners owned 51,675,009 and 51,890,495 common units of CWGS, LLC, respectively, representing 58.2% and 58.5% ownership interests in CWGS, LLC, respectively. The following table summarizes the effects of changes in ownership in CWGS, LLC on the Company’s equity: Three Months Ended Nine Months Ended September 30, September 30, ($ in thousands) 2018 2017 2018 2017 Net income attributable to Camping World Holdings, Inc. $ 14,016 $ 19,589 $ 45,228 $ 46,455 Transfers to non-controlling interests: Decrease in additional paid-in capital as a result of the purchase of common units from CWGS, LLC with proceeds from a public offering — — — (87,203) Decrease in additional paid-in capital as a result of the contribution of Class A common stock to CWGS, LLC for an acquisition by a subsidiary — (3,678) — (3,678) Decrease in additional paid-in capital as a result of the purchase of common units from CWGS, LLC with proceeds from the exercise of stock options (4) — (86) — Increase in additional paid-in capital as a result of the vesting of restricted stock units 44 — 73 — Increase in additional paid-in capital as a result of the redemption of common units of CWGS, LLC 2,485 13,891 4,332 67,471 Change from net income attributable to Camping World Holdings, Inc. and transfers to non-controlling interests $ 16,541 $ 29,802 $ 49,547 $ 23,045

Equity-based Compensation Plans

Equity-based Compensation Plans	9 Months Ended
	Sep. 30, 2018
Equity-based Compensation Plans
Equity-based Compensation Plans	16. Equity-based Compensation Plans The following table summarizes the equity-based compensation that has been included in the following line items within the consolidated statements of operations during: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, ($ in thousands) 2018 2017 2018 2017 Equity-based compensation expense: Costs applicable to revenue $ 223 $ 81 $ 570 $ 254 Selling, general, and administrative 3,965 1,123 9,965 2,538 Total equity-based compensation expense $ 4,188 $ 1,204 $ 10,535 $ 2,792 The following table summarizes stock option activity for the nine months ended September 30, 2018: Stock Options (in thousands) Outstanding at December 31, 2017 953 Exercised (7) Forfeited (48) Outstanding at September 30, 2018 898 Options exercisable at September 30, 2018 171 The following table summarizes restricted stock unit activity for the nine months ended September 30, 2018: Restricted Stock Units (in thousands) Outstanding at December 31, 2017 1,247 Granted 725 Vested (89) Forfeited (52) Outstanding at September 30, 2018 1,831 The weighted-average grant date fair value of restricted stock units granted during the nine months ended September 30, 2018 was $25.73.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share
Earnings Per Share	17. Earnings Per Share Basic earnings per share of Class A common stock is computed by dividing net income available to Camping World Holdings, Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings per share of Class A common stock is computed by dividing net income available to Camping World Holdings, Inc. by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities. The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock: Three Months Ended Nine Months Ended September 30, September 30, (In thousands except per share amounts) 2018 2017 2018 2017 Numerator: Net income $ 47,909 $ 83,752 $ 147,000 $ 238,468 Less: net income attributable to non-controlling interests (33,893) (64,163) (101,772) (192,013) Net income attributable to Camping World Holdings, Inc. — basic 14,016 19,589 45,228 46,455 Add: reallocation of net income attributable to non-controlling interests from the assumed dilutive effect of stock options and RSUs 9 — — — Add: Reallocation of net income attributable to non-controlling interests from the assumed exchange of common units of CWGS, LLC for Class A common stock — — 61,751 117,482 Net income attributable to Camping World Holdings, Inc. — diluted $ 14,025 $ 19,589 $ 106,979 $ 163,937 Denominator: Weighted-average shares of Class A common stock outstanding — basic 37,018 29,522 36,933 23,854 Dilutive options to purchase Class A common stock — — 104 — Dilutive restricted stock units 37 — 103 — Dilutive common units of CWGS, LLC that are convertible into Class A common stock — — 51,751 62,093 Weighted-average shares of Class A common stock outstanding — diluted 37,055 29,522 88,891 85,947 Earnings per share of Class A common stock — basic $ 0.38 $ 0.66 $ 1.22 $ 1.95 Earnings per share of Class A common stock — diluted $ 0.38 $ 0.66 $ 1.20 $ 1.91 Weighted-average anti-dilutive securities excluded from the computation of diluted earnings per share of Class A common stock: Stock options to purchase Class A common stock 903 1,063 611 1,086 Restricted stock units 1,639 362 851 246 Common units of CWGS, LLC that are convertible into Class A common stock 51,708 58,930 — — Shares of the Company’s Class B common stock and Class C common stock do not share in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock or Class C common stock under the two-class method has not been presented.

Segments Information

Segments Information	9 Months Ended
	Sep. 30, 2018
Segments Information
Segments Information	18. Segments Information During the quarter ended September 30, 2018, the Company’s board of directors appointed Brent Moody, formerly the Chief Operating and Legal Officer, as President of the Company. In this new role, the Company determined that Mr. Moody now performs the role of chief operating decision maker together with the Chief Executive Officer. Additionally, responsibilities of certain members of senior management of the Company were realigned to maximize the contributions of the Company’s recent acquisitions of Retail businesses. As a result of these changes, the Company has determined that its reportable segments have changed. The Company’s new reportable segments have been identified based on various commonalities amongst the Company’s individual product lines, which is consistent with the Company’s operating structure and associated management structure and management evaluates the performance of and allocates resources to these segments based on segment revenues and segment profit. The segment reporting for prior comparative periods have been recasted to conform to the current period presentation. The Company previously had two reportable segments: (i) Consumer Services and Plans; and (ii) Retail. Following the realignment, the Company now has three reportable segments: (i) Consumer Services and Plans, (ii) Dealership, and (iii) Retail. The Company’s Consumer Services and Plans segment remains the same as prior periods and primarily derives revenue from the sale of emergency roadside assistance; property and casualty insurance programs; travel assist programs; extended vehicle service contracts; co-branded credit cards; vehicle financing and refinancing; club memberships; and publications and directories. The Company has separated the prior Retail segment into two distinct segments: Dealership and Retail. The Company’s Dealership segment primarily derives revenue from the sale of new and used RVs, parts, service and other, and finance and insurance products. The Company’s Retail segment primarily derives revenue from the sale of the following: products, parts, service and other, including RV accessories and supplies; and camping, hunting, fishing, skiing, snowboarding, bicycling, skateboarding, marine and watersport equipment and supplies. As noted above, both the Dealership and Retail segments derive revenue from the sale of parts, services and other revenues since certain retail locations without associated dealerships have the capability to perform RV repair and maintenance services. Additionally, certain RV parts and accessories can be sold to customers at a dealership or retail location. The revenues and related costs of revenues for these parts and services are recorded in the segment that enters into the transaction with the customer, either Dealership or Retail. Corporate and other is comprised of the corporate operations of the Company. The reportable segments identified above are the business activities of the Company for which discrete financial information is available and for which operating results are regularly reviewed by the Company’s chief operating decision maker to allocate resources and assess performance. The Company’s chief operating decision maker is a group comprised of the Chief Executive Officer and the President. Reportable segment revenue, segment income, floor plan interest expense, depreciation and amortization, other interest expense, total assets, and capital expenditures are as follows: Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 Consumer Consumer Services Intersegment Services Intersegment ($ in thousands) and Plans (1) Dealership (1) Retail (1) Eliminations Total and Plans (1) Dealership (1) Retail (1) Eliminations Total Revenue: Consumer services and plans $ 52,226 $ — $ — $ (182) $ 52,044 $ 46,342 $ — $ — $ (173) $ 46,169 New vehicles — 699,263 — (1,946) 697,317 — 714,966 — (1,604) 713,362 Used vehicles — 198,555 — (798) 197,757 — 188,547 — (1,084) 187,463 Dealership parts, services and other — 71,607 — — 71,607 — 66,847 — — 66,847 Finance and insurance, net — 112,477 — (3,018) 109,459 — 103,135 — (2,277) 100,858 Retail — — 218,977 (34,434) 184,543 — — 152,016 (31,113) 120,903 Total consolidated revenue $ 52,226 $ 1,081,902 $ 218,977 $ (40,378) $ 1,312,727 $ 46,342 $ 1,073,495 $ 152,016 $ (36,251) $ 1,235,602 Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 Consumer Consumer Services Intersegment Services Intersegment ($ in thousands) and Plans (1) Dealership (1) Retail (1) Eliminations Total and Plans (1) Dealership (1) Retail (1) Eliminations Total Revenue: Consumer services and plans $ 160,509 $ — $ — $ (1,909) $ 158,600 $ 145,932 $ — $ — $ (1,414) $ 144,518 New vehicles — 2,090,364 — (6,018) 2,084,346 — 1,982,644 — (5,172) 1,977,472 Used vehicles — 582,816 — (2,322) 580,494 — 531,324 — (2,427) 528,897 Dealership parts, services and other — 210,024 — — 210,024 — 185,586 — — 185,586 Finance and insurance, net — 334,288 — (8,920) 325,368 — 273,222 — (6,015) 267,207 Retail — — 557,465 (96,828) 460,637 — — 381,449 (88,866) 292,583 Total consolidated revenue $ 160,509 $ 3,217,492 $ 557,465 $ (115,997) $ 3,819,469 $ 145,932 $ 2,972,776 $ 381,449 $ (103,894) $ 3,396,263 (1) Segment revenue includes intersegment revenue. Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, ($ in thousands) 2018 2017 2018 2017 Segment income: (1) Consumer services and plans $ 26,018 $ 21,675 $ 81,732 $ 71,887 Dealership 85,529 97,116 262,215 259,710 Retail (20,674) (5,122) (79,668) (4,531) Total segment income 90,873 113,669 264,279 327,066 Corporate & other (1,606) (2,037) (4,570) (6,461) Depreciation and amortization (13,179) (8,382) (34,207) (22,819) Other interest expense, net (16,794) (11,012) (45,740) (30,973) Tax Receivable Agreement liability adjustment — (96) — (79) Loss and expense on debt restructure — — (2,056) — Income before income taxes $ 59,294 $ 92,142 $ 177,706 $ 266,734 (1) Segment income is defined as income from operations before depreciation and amortization plus floor plan interest expense. Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, ($ in thousands) 2018 2017 2018 2017 Depreciation and amortization: Consumer services and plans $ 951 $ 888 $ 2,546 2,889 Dealership 3,975 3,466 11,676 10,130 Retail 8,058 3,800 19,790 9,457 Subtotal 12,984 8,154 34,012 22,476 Corporate & other 195 228 195 343 Total depreciation and amortization $ 13,179 $ 8,382 $ 34,207 $ 22,819 Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, ($ in thousands) 2018 2017 2018 2017 Other interest expense, net: Consumer services and plans $ 1 $ 1 $ (1) $ 5 Dealership 1,183 876 3,626 2,916 Retail 178 547 558 1,459 Subtotal 1,362 1,424 4,183 4,380 Corporate & other 15,432 9,588 41,557 26,593 Total interest expense $ 16,794 $ 11,012 $ 45,740 $ 30,973 September 30, December 31, ($ in thousands) 2018 2017 Assets: Consumer services and plans $ 140,992 $ Dealership 1,685,916 Retail 775,383 Subtotal 2,602,291 2,258,830 Corporate & other 224,807 Total assets $ 2,827,098 $

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2018
Subsequent Event
Subsequent Event	19. Subsequent Event On November 2, 2018, Camping World Property, Inc. (the ‘‘Real Estate Borrower’’), an indirect wholly-owned subsidiary of CWGS, LLC, and CIBC Bank USA (“Lender”), entered into a loan and security agreement for a real estate credit facility with an aggregate maximum principal amount of $21.525 million (“Real Estate Facility”). Borrowings under the Real Estate Facility are guaranteed by CWGS Group, LLC, a wholly-owned subsidiary of CWGS, LLC (“Real Estate Facility Guarantor”). The Real Estate Facility may be used to finance the acquisition of real estate assets. Concurrent with the establishment of the Real Estate Facility, the Real Estate Borrower borrowed $4.2 million to acquire a distribution facility leased prior to the acquisition thereof. The Real Estate Facility will be secured by first priority security interest on the real estate assets acquired with the proceeds of the Real Estate Facility (“Real Estate Facility Properties”). The Real Estate Facility matures on October 31, 2023. The borrowings under the Real Estate Facility bear interest at a rate per annum equal to, at our option, either: (a) a floating rate tied to the London Interbank Eurodollar market (the ‘‘Floating LIBO Rate’’), plus 2.75%, in the case of Floating LIBO Rate loans or (b) a base rate determined by reference to the greater of: (i) the federal funds rate plus 0.50%, and (ii) the prime rate published by Lender, plus 0.75%, in the case of base rate loans. The Real Estate Borrower was required to pay a commitment fee equal to the product of: (i) 0.50%, and (ii) the aggregate principal amount of the Real Estate Facility. In addition to other customary covenants, the loan and security agreement governing the Real Estate Facility requires the Real Estate Borrower to comply on a quarterly basis, with respect to each of the individual Real Estate Facility Properties, with a debt service coverage ratio of 1.250 to 1.000.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2018
Summary of Significant Accounting Policies
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of Camping World Holdings, Inc. (“CWH”) and its subsidiaries (collectively, the “Company”), and are presented in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for fair presentation of the results of operations, financial position and cash flows for the periods presented have been reflected. All significant intercompany accounts and transactions of the Company and its subsidiaries have been eliminated in consolidation. The condensed consolidated financial statements as of and for the three and nine months ended September 30, 2018 are unaudited. The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited financial statements at that date but does not include all of the disclosures required by GAAP. These interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 (the “Annual Report”) filed with the SEC on March 13, 2018. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year. CWH was formed on March 8, 2016 as a Delaware corporation for the purpose of facilitating an initial public offering (the “IPO”) and other related transactions in order to carry on the business of CWGS Enterprises, LLC (“CWGS, LLC”). CWGS, LLC was formed in March 2011 when it received, through contribution from its then parent company, all of the membership interests of Affinity Group Holding, LLC and FreedomRoads Holding Company, LLC (“FreedomRoads”). The IPO and related reorganization transactions (the “Reorganization Transactions”) that occurred on October 6, 2016 resulted in CWH as the sole managing member of CWGS, LLC, with CWH having sole voting power in and control of the management of CWGS, LLC. Despite its position as sole managing member of CWGS, LLC, CWH has a minority economic interest in CWGS, LLC. As of September 30, 2018, CWH owned 41.8% of CWGS, LLC. Accordingly, the Company consolidates the financial results of CWGS, LLC and reports a non-controlling interest in its consolidated financial statements. The Company does not have any components of other comprehensive income recorded within its consolidated financial statements, and, therefore, does not separately present a statement of comprehensive income in its consolidated financial statements.
Description of the Business	Description of the Business CWGS, LLC is a holding company and operates through its subsidiaries. The Company realigned the structure of its internal organization during the three months ended September 30, 2018 in a manner that caused the composition of its reportable segments to change to the following three segments: (i) Consumer Services and Plans, (ii) Dealership, and (iii) Retail. The Company reportable segment financial information has been recasted to reflect the updated reportable segment structure for all periods presented. See Note 18 to Consolidated Financial Statements for further information about the Company’s segments. The Company provides consumer services and plans offerings under its Good Sam brand, its Dealership offerings under its Camping World brand, and its Retail products primarily under the Camping World and Gander Outdoors brands. Within the Consumer Services and Plans segment, the Company primarily derives revenue from the sale of the following offerings: emergency roadside assistance; property and casualty insurance programs; travel assist programs; extended vehicle service contracts; co-branded credit cards; vehicle financing and refinancing; club memberships; and publications and directories. Within the Dealership segment, the Company primarily derives revenue from the sale of new and used recreational vehicles (“RV’s”), sale of RV parts, services and other, and commissions on the related finance and insurance contracts. Within the Retail segment, the Company primarily derives revenue from the sale of the following: products, parts, accessories, supplies and service for RVs, and equipment, gear and supplies for camping, hunting, fishing, skiing, snowboarding, bicycling, skateboarding, marine and watersport and other outdoor activities. As noted above, both the Dealership and Retail segments derive revenue from the sale of parts, services and other revenues since certain retail locations without associated dealerships have the capability to perform RV repair and maintenance services. Additionally, certain RV parts and accessories can be sold to customers at a dealership or retail location. The revenues and related costs of revenues for these parts and services are recorded in the segment that enters into the transaction with the customer, either Dealership or Retail. The Company primarily operates in various regions throughout the United States and markets its products and services to RV owners and outdoor enthusiasts. At September 30, 2018, the Company operated 227 retail locations, of which 136 locations sold new and used RVs and offered RV financing and insurance; 129 locations offered RV products, parts and services; 55 Gander Outdoors locations offered outdoor products and services; one Overton’s location offered marine and watersports products; two TheHouse.com locations offered skiing, snowboarding, bicycling, and skateboarding products; two W82 locations offered skiing, snowboarding, and skateboarding products; and six Uncle Dan’s locations offered outdoor products and services. In addition, on January 30, 2018 the Company acquired certain assets of EARTH SPORTS LLC, dba Erehwon Mountain Outfitter (“Erehwon”), a leading Midwest specialty retailer of outdoor gear and apparel with four retail locations. On April 19, 2018 the Company acquired Rock Creek Outfitters (“Rock Creek”), a specialty outdoor retailer of outdoor gear for kayaking, rock climbing, camping and hiking with seven retail locations. In the first nine months of 2018, the Company converted three RV products, parts and services locations from the Camping World nameplate to the Gander nameplate (Bowling Green, Kentucky, Madison, Wisconsin and Roanoke, Virginia), converted one RV products, parts and services location from a Camping World nameplate to an Overton’s nameplate (Rogers, Minnesota), closed two RV products, parts and services locations from the Camping World nameplate (Winter Garden, FL; and Cleburne, TX), closed two Overton’s locations (Greenville, North Carolina and Raleigh, North Carolina), closed one Gander Outdoors location (Florence, Alabama), and acquired a dealership in Worthing, South Dakota and subsequently merged the operations of the acquired dealership into our existing dealership within the same market.
Use of Estimates	Use of Estimates The preparation of these unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results may differ from those estimates. In preparing these financial statements, management has made its best estimates and judgments of certain amounts included in the financial statements, giving due consideration to materiality. The Company bases its estimates and judgments on historical experience and other assumptions that management believes are reasonable. However, application of these accounting policies involves the exercise of judgment and use of assumptions as to future uncertainties and, as a result, actual results could differ materially from these estimates. The Company periodically evaluates estimates and assumptions used in the preparation of the financial statements and makes changes on a prospective basis when adjustments are necessary. Significant estimates made in the accompanying unaudited condensed consolidated financial statements include certain assumptions related to accounts receivable, inventory, goodwill, intangible assets, long lived assets, program cancellation reserves, and accruals related to self-insurance programs, estimated tax liabilities and other liabilities.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). The FASB has subsequently issued several related ASUs that clarified the implementation guidance for certain aspects of ASU 2014-09, which are effective upon the adoption of ASU 2014-09. This ASU sets forth a five-step model for determining when and how revenue is recognized. Under the model, an entity is required to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. The Company adopted the amendments of this ASU on January 1, 2018, and the adoption did not materially impact its consolidated financial statements or results of operations (see Note 2 — Revenue for further details). In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). This ASU addresses several specific cash flow issues with the objective of reducing the diversity in practice of how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The Company adopted the amendments of this ASU on January 1, 2018, and the adoption did not materially impact its consolidated financial statements or results of operations. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). The FASB has subsequently issued several related ASUs that clarified the implementation guidance for certain aspects of ASU 2016-02, which are effective upon the adoption of ASU 2016-02. The amendments in this ASU relate to the accounting for leasing transactions. This standard requires a lessee to record on the balance sheet the assets and liabilities for the rights and obligations created by leases with lease terms of more than 12 months. In addition, this standard requires both lessees and lessors to disclose certain key information about lease transactions. In July 2018, the FASB made targeted improvements to the standard, including providing an additional and optional transition method. Under this method, an entity initially applies the standard at the adoption date, including the election of certain transition reliefs, and recognizes a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. This standard will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is executing against its project plan, which includes implementing a software solution, designing and implementing new controls, evaluating new disclosure requirements, and finalizing accounting policies and practical expedients. The Company is in the process of evaluating the impact that the adoption will have on its consolidated balance sheet and statement of income. However, the Company expects that the adoption of the provisions of this ASU will have a significant impact on its consolidated balance sheet by reporting a right-to-use lease asset and corresponding lease obligation, as currently most of its real estate is leased via operating leases. In August 2018, the FASB issued ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820) (“ASU 2018-13”). This standard eliminates, amends, and adds disclosure requirements for fair value measurements. The amended and new disclosure requirements primarily relate to Level 3 fair value measurements. The standard will be effective for fiscal years beginning after December 15, 2019. The removal and amendment of certain disclosures may be early adopted with retrospective application while the new disclosure requirements are to be applied prospectively. The Company plans to early adopt this standard as of October 1, 2018. The Company currently does not expect this ASU, which relates only to disclosures, to have a material impact to the Company’s consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”). This standard aligns the accounting for implementation costs incurred in a cloud computing arrangement that is a service arrangement (i.e., hosting arrangement) with the guidance on capitalizing costs in ASC 350-40, Internal-Use Software. The ASU permits either a prospective or retrospective transition approach. The standard will be effective for fiscal years beginning after December 15, 2019. The Company is currently evaluating the impact that the adoption of the provisions of the ASU will have on its consolidated financial statements.
Immaterial Corrections	Immaterial Corrections Certain immaterial corrections have been made to the statements of cash flows, which reduced net cash provided by operating activities and decreased net cash used in investing activities by $3.8 million for the nine months ended September 30, 2017. As part of these immaterial corrections, the Company increased the Accounts Payable and Other Accrued Expenses line item and decreased the Other, Net line item within cash provided by operating activities for the nine months ended September 30, 2017. These corrections had no impact on the previously-reported consolidated balance sheets, statements of operations, or statements of stockholders' equity.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2018
Summary of total unsatisfied performance obligation for these revenue streams, that the Company expects to recognize the amounts as revenue	The total unsatisfied performance obligation for these revenue streams at September 30, 2018 and the periods during which the Company expects to recognize the amounts as revenue are presented as follows (in thousands): As of September 30, 2018 2018 $ 37,322 2019 62,679 2020 24,151 2021 11,738 2022 6,046 Thereafter 9,096 Total $ 151,032
ASU 2014-09
Summary of cumulative effect of the changes made to the consolidated January 1, 2018 balance sheet for the adoption of ASC 606 and impact of the adoption of ASC 606 on the consolidated balance sheet and statement of operations	The following table details the cumulative effect of the changes made to the consolidated January 1, 2018 balance sheet for the adoption of ASC 606 (in thousands): Balance at Adjustments Balance at December 31, Due to January 1, 2017 ASU 2014-09 2018 Assets Accounts receivable, net $ 79,881 $ 6,130 $ 86,011 Inventories 1,415,915 (5,142) 1,410,773 Prepaid expenses and other assets 32,721 4,508 37,229 Deferred tax assets, net 155,551 (303) 155,248 Liabilities Accrued liabilities 101,929 1,021 102,950 Deferred revenues and gains, current 77,669 857 78,526 Deferred revenues and gains, non-current 64,061 (471) 63,590 Equity Retained earnings 6,192 1,310 7,502 Non-controlling interests 34,332 2,476 36,808 The adjustments above related primarily to i) the deferral of sales commissions expenses relating to multiyear consumer services and plans and the recording of such expenses over the same period as the recognition of the related revenues, ii) adjustment of recognition period of RV service revenue from point-in-time to over time, iii) adjustment of capitalized direct-response advertising to expense when the advertising is mailed instead of over the expected benefit period, iv) reclassification of estimated product returns from inventory to prepaid expenses and other assets, v) reclassification of expected refunds previously included in deferred revenues and gains to accrued liabilities, and vi) reclassification and adjustment of the point obligation for the Coast to Coast service from accrued liabilities to deferred revenues and gains. The following table details the impact of the adoption of ASC 606 on the consolidated balance sheet as of September 30, 2018 (in thousands): September 30, 2018 As Balances Without Effect of Change Reported Adoption of ASC 606 Higher/(Lower) Assets Accounts receivable, net $ 100,071 $ 93,456 $ 6,615 Inventories 1,495,041 1,501,772 (6,731) Prepaid expenses and other assets 36,637 29,623 7,014 Deferred tax assets, net 145,751 146,054 (303) Liabilities Accrued liabilities 143,792 142,640 1,152 Deferred revenues and gains, current 92,391 91,440 951 Deferred revenues and gains, non-current 69,223 69,880 (657) Equity Retained earnings 35,730 33,945 1,785 Non-controlling interests 52,276 48,912 3,364 The following table details the impact of the adoption of ASC 606 on the consolidated statement of operations for the three and nine months ended September 30, 2018 (in thousands): Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 Balances Without Effect of Balances Without Effect of As Reported Adoption of ASC 606 Change Higher/(Lower) As Reported Adoption of ASC 606 Change Higher/(Lower) Revenue Consumer services and plans $ 52,044 $ 52,046 $ (2) $ 158,600 $ 158,637 $ (37) Dealership parts, services and other 71,607 70,942 665 210,024 209,634 390 Retail 184,543 184,562 (19) 460,637 460,512 125 Costs applicable to revenue Consumer services and plans 21,499 21,643 (144) 65,056 65,360 (304) Dealership parts, services and other 36,504 36,209 295 104,372 104,219 153 Retail 116,664 116,655 9 292,664 292,595 69 Operating and income tax expenses Selling, general, and administrative 278,329 278,928 (599) 807,738 808,701 (963) Income tax expense 11,385 11,271 114 30,706 30,546 160 Net income Net income 47,909 46,940 969 147,000 145,637 1,363 Less: net income attributable to non-controlling interests (33,893) (33,262) (631) (101,772) (100,884) (888) Net income attributable to Camping World Holdings, Inc. 14,016 13,678 338 45,228 44,753 475

Inventories and Floor Plan Pa_2

Inventories and Floor Plan Payable (Tables)	9 Months Ended
	Sep. 30, 2018
Inventory
Schedule of inventories	Inventories consisted of the following (in thousands): September 30, December 31, 2018 2017 Consumer services and plans $ — $ 387 Dealership: New RV vehicles 912,581 1,113,178 Used RV vehicles 121,225 106,210 Dealership parts, accessories and miscellaneous 8,012 7,802 Retail 453,223 188,338 $ 1,495,041 $ 1,415,915
Floor Plan Facility
Inventory
Schedule of outstanding amounts and available borrowing	The following table details the outstanding amounts and available borrowings under the Floor Plan Facility as of September 30, 2018 and December 31, 2017 (in thousands): September 30, December 31, 2018 2017 Floor Plan Facility Notes payable - floor plan: Total commitment $ 1,415,000 $ 1,415,000 Less: borrowings, net (734,038) (974,043) Less: flooring line aggregate interest reduction account (147,481) (106,055) Additional borrowing capacity 533,481 334,902 Less: accounts payable for sold inventory (59,236) (31,311) Less: purchase commitments (39,723) (77,144) Unencumbered borrowing capacity $ 434,522 $ 226,447 Revolving line of credit: $ 35,000 $ 35,000 Less borrowings (24,403) — Additional borrowing capacity $ 10,597 $ 35,000 Letters of credit: Total commitment $ 15,000 $ 15,000 Less: outstanding letters of credit (9,369) (9,369) Additional letters of credit capacity $ 5,631 $ 5,631

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2018
Property and Equipment, net
Property and Equipment, net	Property and equipment consisted of the following at (in thousands): September 30, December 31, 2018 2017 Land $ 69,123 $ 12,243 Buildings and improvements 56,164 17,791 Leasehold improvements - inclusive of right to use assets 131,228 107,354 Furniture and equipment 191,548 130,204 Software 79,852 68,087 Systems development and construction in progress 55,807 34,384 583,722 370,063 Less: accumulated depreciation and amortization (192,143) (172,041) Property and equipment, net $ 391,579 $ 198,022

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets
Changes in goodwill by business line	The following is a summary of changes in the Company’s goodwill by reportable segments for the nine months ended September 30, 2018 (in thousands): Consumer Services and Plans Retail Dealership Consolidated Balance as of December 31, 2017 $ 49,944 $ 36,467 $ 261,976 $ 348,387 Acquisitions (1) 376 3,579 36,745 40,700 Balance as of September 30, 2018 $ 50,320 $ 40,046 $ 298,721 $ 389,087 (1) See Note 11 — Acquisitions.
Finite-lived intangible assets and related accumulated amortization	Finite-lived intangible assets and related accumulated amortization consisted of the following at September 30, 2018 and December 31, 2017 (in thousands): September 30, 2018 Cost or Accumulated Fair Value Amortization Net Consumer Services and Plans: Membership and customer lists $ 9,140 $ (6,989) $ 2,151 Retail: Customer lists and domain names 3,915 (1,805) 2,110 Trademarks and trade names 29,304 (2,365) 26,939 Websites 6,074 (864) 5,210 $ 48,433 $ (12,023) $ 36,410 December 31, 2017 Cost or Accumulated Fair Value Amortization Net Consumer Services and Plans: Membership and customer lists $ 8,374 $ (6,431) $ 1,943 Retail: Customer lists and domain names 3,915 (1,048) 2,867 Trademarks and trade names 28,987 (901) 28,086 Websites 6,074 (263) 5,811 $ 47,350 $ (8,643) $ 38,707

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Long-Term Debt.
Long-Term debt	Long-term debt consists of the following (in thousands): September 30, December 31, 2018 2017 Term Loan Facility (1) $ 1,161,389 $ 916,902 Less: current portion (11,991) (9,465) $ 1,149,398 $ 907,437 (1) Net of $5.6 million and $6.0 million of original issue discount at September 30, 2018 and December 31, 2017, respectively, and $14.1 million and $14.2 million of finance costs at September 30, 2018 and December 31, 2017, respectively.

Right to Use Assets and Liabi_2

Right to Use Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2018
Right to Use Assets and Liabilities
Schedule of right to use assets	The Company has included the right to use assets in property and equipment, net, as follows (in thousands): September 30, December 31, 2018 2017 Right to use assets $ 10,673 $ 10,673 Accumulated depreciation (1,120) (926) $ 9,553 $ 9,747
Schedule of future changes in the right to use liability	The following is a schedule by year of the future changes in the right to use liabilities as of September 30, 2018 (in thousands): 2018 $ 218 2019 486 2020 486 2021 487 2022 487 Thereafter (1) 13,260 Total minimum lease payments 15,424 Amounts representing interest (5,350) Present value of net minimum right to use liability payments $ 10,074 Includes $4.8 million of scheduled derecognition of right to use liabilities upon the reduction in lease deposits to less than two months’ rent.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Measurements
Summary of aggregate carrying value and fair value of fixed rate debt	Fair Value 9/30/2018 12/31/2017 ($ in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Term Loan Facility Level 2 $ 1,161,389 $ 1,161,954 $ 916,902 $ 953,269

Cash Flows (Tables)

Cash Flows (Tables)	9 Months Ended
	Sep. 30, 2018
Statements of Cash Flows
Supplemental disclosures of cash flow information	Supplemental disclosures of cash flow information for the following periods (in thousands): Nine Months Ended September 30, September 30, 2018 2017 Cash paid during the period for: Interest $ 70,326 $ 47,374 Income taxes 17,408 25,660 Non-cash investing activities: Vehicles transferred to property and equipment from inventory 780 1,605 Portion of acquisition purchase price paid through issuance of Class A common stock — 5,720 Landlord paid tenant improvements on behalf of the Company 28,431 857 Derecognition of non-tenant improvements 7,018 — Capital expenditures in accounts payable and accrued liabilities 6,051 6,595 Non-cash financing activities: Par value of Class A common stock issued in exchange for common units in CWGS, LLC 3 66 Par value of Class A common stock issued for vested restricted stock units 1 — Par value of Class A common stock issued for acquisition — 1

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2018
Assets Or Stock Of Multiple Dealership Locations Acquired
Acquisitions
Summary of the purchase price allocations	Nine Months Ended September 30, ($ in thousands) 2018 2017 Tangible assets (liabilities) acquired (assumed): Cash and cash equivalents $ 2,648 $ — Contracts in transit 103 — Accounts receivable 103 1,306 Inventory 36,257 98,869 Prepaid expenses and other assets 79 Property and equipment 402 835 Other assets 48 72 Accounts payable (64) — Accrued liabilities (1,081) (3,019) Deferred revenues and gains (168) — Total tangible net assets acquired 38,327 98,063 Intangible assets acquired: Membership and customer lists 766 793 Total intangible assets acquired 766 793 Goodwill 37,145 143,788 Purchase price 76,238 242,644 Cash and cash equivalents acquired (2,648) — Cash paid for acquisition, net of cash acquired 73,590 242,644 Inventory purchases financed via floor plan (29,365) (79,321) Cash payment net of floor plan financing $ 44,225 $ 163,323
Acquisitions Excluding Dealership Locations
Acquisitions
Summary of the purchase price allocations	Nine Months Ended September 30, ($ in thousands) 2018 2017 Tangible assets (liabilities) acquired (assumed): Cash and cash equivalents $ — $ 501 Accounts receivable — 159 Inventory 4,599 47,129 Prepaid expenses and other assets 76 1,169 Property and equipment 416 9,530 Other assets — — Accounts payable — (7,582) Accrued liabilities (359) (1,990) Other liabilities — (6,016) Total tangible net assets acquired 4,732 42,900 Intangible assets acquired: Trademarks and trade names 318 28,839 Membership and customer lists — 500 Websites — 5,990 Total intangible assets acquired 318 35,329 Goodwill 3,580 31,509 Purchase price 8,630 109,738 Cash and cash equivalents acquired — (501) Contingent consideration unpaid at September 30, 2017 — (1,021) Non-cash consideration - Class A shares issued — (5,720) Cash paid for acquisition, net of cash acquired $ 8,630 $ 102,496

Non-Controlling Interest (Table

Non-Controlling Interest (Tables)	9 Months Ended
	Sep. 30, 2018
Non-Controlling Interests
Schedule of effects of change in ownership	Three Months Ended Nine Months Ended September 30, September 30, ($ in thousands) 2018 2017 2018 2017 Net income attributable to Camping World Holdings, Inc. $ 14,016 $ 19,589 $ 45,228 $ 46,455 Transfers to non-controlling interests: Decrease in additional paid-in capital as a result of the purchase of common units from CWGS, LLC with proceeds from a public offering — — — (87,203) Decrease in additional paid-in capital as a result of the contribution of Class A common stock to CWGS, LLC for an acquisition by a subsidiary — (3,678) — (3,678) Decrease in additional paid-in capital as a result of the purchase of common units from CWGS, LLC with proceeds from the exercise of stock options (4) — (86) — Increase in additional paid-in capital as a result of the vesting of restricted stock units 44 — 73 — Increase in additional paid-in capital as a result of the redemption of common units of CWGS, LLC 2,485 13,891 4,332 67,471 Change from net income attributable to Camping World Holdings, Inc. and transfers to non-controlling interests $ 16,541 $ 29,802 $ 49,547 $ 23,045

Equity-based Compensation Pla_2

Equity-based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2018
Equity-based Compensation Plans
Schedule of equity-based compensation expense classified with the consolidated statements of operations	Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, ($ in thousands) 2018 2017 2018 2017 Equity-based compensation expense: Costs applicable to revenue $ 223 $ 81 $ 570 $ 254 Selling, general, and administrative 3,965 1,123 9,965 2,538 Total equity-based compensation expense $ 4,188 $ 1,204 $ 10,535 $ 2,792
Summary of stock option activity	Stock Options (in thousands) Outstanding at December 31, 2017 953 Exercised (7) Forfeited (48) Outstanding at September 30, 2018 898 Options exercisable at September 30, 2018 171
Summary of restricted stock unit activity	Restricted Stock Units (in thousands) Outstanding at December 31, 2017 1,247 Granted 725 Vested (89) Forfeited (52) Outstanding at September 30, 2018 1,831

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share
Schedule of reconciliations of the numerators and denominators used to compute basic and diluted earnings	Three Months Ended Nine Months Ended September 30, September 30, (In thousands except per share amounts) 2018 2017 2018 2017 Numerator: Net income $ 47,909 $ 83,752 $ 147,000 $ 238,468 Less: net income attributable to non-controlling interests (33,893) (64,163) (101,772) (192,013) Net income attributable to Camping World Holdings, Inc. — basic 14,016 19,589 45,228 46,455 Add: reallocation of net income attributable to non-controlling interests from the assumed dilutive effect of stock options and RSUs 9 — — — Add: Reallocation of net income attributable to non-controlling interests from the assumed exchange of common units of CWGS, LLC for Class A common stock — — 61,751 117,482 Net income attributable to Camping World Holdings, Inc. — diluted $ 14,025 $ 19,589 $ 106,979 $ 163,937 Denominator: Weighted-average shares of Class A common stock outstanding — basic 37,018 29,522 36,933 23,854 Dilutive options to purchase Class A common stock — — 104 — Dilutive restricted stock units 37 — 103 — Dilutive common units of CWGS, LLC that are convertible into Class A common stock — — 51,751 62,093 Weighted-average shares of Class A common stock outstanding — diluted 37,055 29,522 88,891 85,947 Earnings per share of Class A common stock — basic $ 0.38 $ 0.66 $ 1.22 $ 1.95 Earnings per share of Class A common stock — diluted $ 0.38 $ 0.66 $ 1.20 $ 1.91 Weighted-average anti-dilutive securities excluded from the computation of diluted earnings per share of Class A common stock: Stock options to purchase Class A common stock 903 1,063 611 1,086 Restricted stock units 1,639 362 851 246 Common units of CWGS, LLC that are convertible into Class A common stock 51,708 58,930 — —

Segments Information (Tables)

Segments Information (Tables)	9 Months Ended
	Sep. 30, 2018
Segments Information
Reportable segment revenue	Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 Consumer Consumer Services Intersegment Services Intersegment ($ in thousands) and Plans (1) Dealership (1) Retail (1) Eliminations Total and Plans (1) Dealership (1) Retail (1) Eliminations Total Revenue: Consumer services and plans $ 52,226 $ — $ — $ (182) $ 52,044 $ 46,342 $ — $ — $ (173) $ 46,169 New vehicles — 699,263 — (1,946) 697,317 — 714,966 — (1,604) 713,362 Used vehicles — 198,555 — (798) 197,757 — 188,547 — (1,084) 187,463 Dealership parts, services and other — 71,607 — — 71,607 — 66,847 — — 66,847 Finance and insurance, net — 112,477 — (3,018) 109,459 — 103,135 — (2,277) 100,858 Retail — — 218,977 (34,434) 184,543 — — 152,016 (31,113) 120,903 Total consolidated revenue $ 52,226 $ 1,081,902 $ 218,977 $ (40,378) $ 1,312,727 $ 46,342 $ 1,073,495 $ 152,016 $ (36,251) $ 1,235,602 Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 Consumer Consumer Services Intersegment Services Intersegment ($ in thousands) and Plans (1) Dealership (1) Retail (1) Eliminations Total and Plans (1) Dealership (1) Retail (1) Eliminations Total Revenue: Consumer services and plans $ 160,509 $ — $ — $ (1,909) $ 158,600 $ 145,932 $ — $ — $ (1,414) $ 144,518 New vehicles — 2,090,364 — (6,018) 2,084,346 — 1,982,644 — (5,172) 1,977,472 Used vehicles — 582,816 — (2,322) 580,494 — 531,324 — (2,427) 528,897 Dealership parts, services and other — 210,024 — — 210,024 — 185,586 — — 185,586 Finance and insurance, net — 334,288 — (8,920) 325,368 — 273,222 — (6,015) 267,207 Retail — — 557,465 (96,828) 460,637 — — 381,449 (88,866) 292,583 Total consolidated revenue $ 160,509 $ 3,217,492 $ 557,465 $ (115,997) $ 3,819,469 $ 145,932 $ 2,972,776 $ 381,449 $ (103,894) $ 3,396,263 (1) Segment revenue includes intersegment revenue.
Reportable segment income	Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, ($ in thousands) 2018 2017 2018 2017 Segment income: (1) Consumer services and plans $ 26,018 $ 21,675 $ 81,732 $ 71,887 Dealership 85,529 97,116 262,215 259,710 Retail (20,674) (5,122) (79,668) (4,531) Total segment income 90,873 113,669 264,279 327,066 Corporate & other (1,606) (2,037) (4,570) (6,461) Depreciation and amortization (13,179) (8,382) (34,207) (22,819) Other interest expense, net (16,794) (11,012) (45,740) (30,973) Tax Receivable Agreement liability adjustment — (96) — (79) Loss and expense on debt restructure — — (2,056) — Income before income taxes $ 59,294 $ 92,142 $ 177,706 $ 266,734 (1) Segment income is defined as income from operations before depreciation and amortization plus floor plan interest expense.
Reportable depreciation and amortization and other interest expense, net	Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, ($ in thousands) 2018 2017 2018 2017 Depreciation and amortization: Consumer services and plans $ 951 $ 888 $ 2,546 2,889 Dealership 3,975 3,466 11,676 10,130 Retail 8,058 3,800 19,790 9,457 Subtotal 12,984 8,154 34,012 22,476 Corporate & other 195 228 195 343 Total depreciation and amortization $ 13,179 $ 8,382 $ 34,207 $ 22,819 Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, ($ in thousands) 2018 2017 2018 2017 Other interest expense, net: Consumer services and plans $ 1 $ 1 $ (1) $ 5 Dealership 1,183 876 3,626 2,916 Retail 178 547 558 1,459 Subtotal 1,362 1,424 4,183 4,380 Corporate & other 15,432 9,588 41,557 26,593 Total interest expense $ 16,794 $ 11,012 $ 45,740 $ 30,973
Reportable segment assets	September 30, December 31, ($ in thousands) 2018 2017 Assets: Consumer services and plans $ 140,992 $ Dealership 1,685,916 Retail 775,383 Subtotal 2,602,291 2,258,830 Corporate & other 224,807 Total assets $ 2,827,098 $

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Description of Business (Details) $ in Thousands	Jun. 30, 2018	Oct. 06, 2016	Sep. 30, 2018storesegment	Jun. 30, 2018segment	Sep. 30, 2018USD ($)store	Sep. 30, 2017USD ($)	Dec. 31, 2017	Apr. 19, 2018store	Jan. 30, 2018store	May 26, 2017store	May 25, 2017store
Segments Information
Number of reportable segments | segment			3	2
Number of Camping World retail locations			227		227
Number of stores related to RV products, parts and services			129		129
Cash flow statements
Net cash provided by operating activities | $					$ 251,058	$ 173,352
Net cash used in investing activities | $					$ (286,784)	(401,325)
Adjustment
Cash flow statements
Net cash provided by operating activities | $						(3,800)
Net cash used in investing activities | $						$ (3,800)
New and used RVs, financing, and other ancillary services, protection plans, and products for the RV purchaser
Segments Information
Number of locations related to RV purchasers and outdoor enthusiasts			136		136
Retail
Segments Information
Number of stores closed					2
Gander Mountain
Segments Information
Number of stores closed					1
Number of Camping World retail locations											160
Number of Gander Outdoors stores			61		61
Gander Mountain | Outdoor Products and Services
Segments Information
Number of Gander Outdoors stores			55		55
Gander Mountain | Retail
Segments Information
Number of stores converted					3
TheHouse.com
Segments Information
Number of locations related to skiing, snowboarding, bicycling and skateboarding products			2		2
W82
Segments Information
Number of stores related to skiing, snowboarding, and skateboarding products			2		2
Uncle Dan's
Segments Information
Number of locations related to outdoor products and services			6		6
Overton's
Segments Information
Number of stores closed					2
Number of Camping World retail locations										2
Number of locations related to marine and water sports products			1		1
Number of stores converted					1
Erehwon
Segments Information
Number of locations related to outdoor gear and apparel									4
Rock Creek
Segments Information
Number of stores related to outdoor gear for kayaking, rock climbing, camping and hiking.								7
CWH | CWGS, LLC
Segments Information
Ownership interest	41.80%	22.60%			41.80%		41.50%

Revenue - ASC 606 - Cumulative

Revenue - ASC 606 - Cumulative effect and consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Assets
Accounts receivable, net	$ 100,071	$ 86,011	$ 79,881
Inventories	1,495,041	1,410,773	1,415,915
Prepaid expenses and other assets	36,637	37,229	32,721
Deferred tax assets, net	145,751	155,248	155,551
Liabilities
Accrued liabilities	143,792	102,950	101,929
Deferred revenues and gains, current	92,391	78,526	77,669
Deferred revenues and gains, non-current	69,223	63,590	64,061
Stockholders' equity:
Retained earnings	35,730	7,502	6,192
Non-controlling interests	52,276	36,808	$ 34,332
Balances Without Adoption of ASC 606
Assets
Accounts receivable, net	93,456
Inventories	1,501,772
Prepaid expenses and other assets	29,623
Deferred tax assets, net	146,054
Liabilities
Accrued liabilities	142,640
Deferred revenues and gains, current	91,440
Deferred revenues and gains, non-current	69,880
Stockholders' equity:
Retained earnings	33,945
Non-controlling interests	48,912
Effect of Change Higher/(Lower)
Assets
Accounts receivable, net	6,615	6,130
Inventories	(6,731)	(5,142)
Prepaid expenses and other assets	7,014	4,508
Deferred tax assets, net	(303)	(303)
Liabilities
Accrued liabilities	1,152	1,021
Deferred revenues and gains, current	951	857
Deferred revenues and gains, non-current	(657)	(471)
Stockholders' equity:
Retained earnings	1,785	1,310
Non-controlling interests	$ 3,364	$ 2,476

Revenue - ASC 606 - Statement o

Revenue - ASC 606 - Statement of Operation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2018
Impact of the adoption of ASC 606 on the consolidated statement of operations
Capitalized costs	$ 5,800		$ 5,800		$ 4,400
Operating and income tax expenses
Selling, general, and administrative	278,329	$ 236,174	807,738	$ 640,108
Income tax expense	11,385	8,390	30,706	28,266
Net income
Net income	47,909	83,752	147,000	238,468
Less: net income attributable to non-controlling interests	(33,893)	(64,163)	(101,772)	(192,013)
Net income attributable to Camping World Holdings, Inc.	14,016	19,589	45,228	46,455
RV Service | Accounts Receivable
Impact of the adoption of ASC 606 on the consolidated statement of operations
Contract asset	6,800		6,800		$ 6,300
Class A common stock
Net income
Net income	47,909	83,752	147,000	238,468
Less: net income attributable to non-controlling interests	$ (33,893)	$ (64,163)	$ (101,772)	$ (192,013)
Basic	$ 0.38	$ 0.66	$ 1.22	$ 1.95
Diluted	$ 0.38	$ 0.66	$ 1.20	$ 1.91
Consumer Services and Plans
Impact of the adoption of ASC 606 on the consolidated statement of operations
Revenue	$ 52,044		$ 158,600
Costs applicable to revenue	21,499		65,056
Dealership | Dealership parts, services and other
Impact of the adoption of ASC 606 on the consolidated statement of operations
Revenue	71,607		210,024
Costs applicable to revenue	36,504		104,372
Retail
Impact of the adoption of ASC 606 on the consolidated statement of operations
Revenue	184,543		460,637
Costs applicable to revenue	116,664		292,664
Balances Without Adoption of ASC 606
Operating and income tax expenses
Selling, general, and administrative	278,928		808,701
Income tax expense	11,271		30,546
Net income
Net income	46,940		145,637
Less: net income attributable to non-controlling interests	(33,262)		(100,884)
Net income attributable to Camping World Holdings, Inc.	$ 13,678		$ 44,753
Balances Without Adoption of ASC 606 | Class A common stock
Net income
Basic	$ 0.37		$ 1.21
Diluted	$ 0.37		$ 1.20
Balances Without Adoption of ASC 606 | Consumer Services and Plans
Impact of the adoption of ASC 606 on the consolidated statement of operations
Revenue	$ 52,046		$ 158,637
Costs applicable to revenue	21,643		65,360
Balances Without Adoption of ASC 606 | Dealership | Dealership parts, services and other
Impact of the adoption of ASC 606 on the consolidated statement of operations
Revenue	70,942		209,634
Costs applicable to revenue	36,209		104,219
Balances Without Adoption of ASC 606 | Retail
Impact of the adoption of ASC 606 on the consolidated statement of operations
Revenue	184,562		460,512
Costs applicable to revenue	116,655		292,595
Effect of Change Higher/(Lower)
Operating and income tax expenses
Selling, general, and administrative	(599)		(963)
Income tax expense	114		160
Net income
Net income	969		1,363
Less: net income attributable to non-controlling interests	(631)		(888)
Net income attributable to Camping World Holdings, Inc.	338		475
Effect of Change Higher/(Lower) | Consumer Services and Plans
Impact of the adoption of ASC 606 on the consolidated statement of operations
Revenue	(2)		(37)
Costs applicable to revenue	(144)		(304)
Effect of Change Higher/(Lower) | Dealership | Dealership parts, services and other
Impact of the adoption of ASC 606 on the consolidated statement of operations
Revenue	665		390
Costs applicable to revenue	295		153
Effect of Change Higher/(Lower) | Retail
Impact of the adoption of ASC 606 on the consolidated statement of operations
Revenue	(19)		125
Costs applicable to revenue	$ 9		$ 69

Revenue - Revenue Recognition (

Revenue - Revenue Recognition (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Revenue
Lifetime membership period	18 years
Deferred Revenues
Revenues recognized that were included in the deferred revenue balance	$ 64.8

Revenue - Performance Obligatio

Revenue - Performance Obligation (Details) $ in Thousands	Sep. 30, 2018USD ($)
Revenue
Revenue, Remaining Performance Obligation, Amount	$ 151,032
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01
Revenue
Revenue, Remaining Performance Obligation, Amount	$ 37,322
Performance obligation
Unsatisfied performance obligation, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue
Revenue, Remaining Performance Obligation, Amount	$ 62,679
Performance obligation
Unsatisfied performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue
Revenue, Remaining Performance Obligation, Amount	$ 24,151
Performance obligation
Unsatisfied performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue
Revenue, Remaining Performance Obligation, Amount	$ 11,738
Performance obligation
Unsatisfied performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue
Revenue, Remaining Performance Obligation, Amount	$ 6,046
Performance obligation
Unsatisfied performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue
Revenue, Remaining Performance Obligation, Amount	$ 9,096
Performance obligation
Unsatisfied performance obligation, period

Revenue - Practical Expedients

Revenue - Practical Expedients and Exemptions (Details)	9 Months Ended
	Sep. 30, 2018
Revenue
Period of time between payment and transfer of the promised goods or services, amount of consideration for the effects of a significant financing component if the Company expects, at contract inception.	true
Amortization period of those otherwise capitalized sales commissions when incurred	true
Unsatisfied performance obligations for revenue streams with an original expected length	true

Inventories and Floor Plan Pa_3

Inventories and Floor Plan Payable - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Inventories
Inventories	$ 1,495,041	$ 1,410,773	$ 1,415,915
Consumer Services and Plans
Inventories
Inventories			387
New RV vehicles
Inventories
Inventories	912,581		1,113,178
Used RV vehicles
Inventories
Inventories	121,225		106,210
Dealership parts, services and other
Inventories
Inventories	8,012		7,802
Retail
Inventories
Inventories	$ 453,223		$ 188,338

Inventories and Floor Plan Pa_4

Inventories and Floor Plan Payable - Floor Plan Payable (Details) $ in Thousands	Jul. 01, 2016USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 12, 2017USD ($)	Jun. 30, 2016USD ($)
Floor Plan Facility
Floor Plan Payable
Maximum borrowing capacity		$ 1,415,000	$ 1,415,000	$ 1,415,000
Quarterly reduction in maximum borrowing capacity				1,750
Letters of credit | Floor Plan Facility
Floor Plan Payable
Maximum borrowing capacity				15,000
Line of Credit | Floor Plan Facility
Floor Plan Payable
Maximum borrowing capacity		$ 35,000	$ 35,000	$ 35,000
Line of Credit | Notes Payable to Banks | Floor Plan Facility
Floor Plan Payable
Maximum borrowing capacity	$ 1,180,000				$ 880,000
Line of Credit | Notes Payable to Banks | Floor Plan Facility | London Interbank Offered Rate (LIBOR)
Floor Plan Payable
Variable rate spread (as a percent)			2.15%
Line of Credit | Notes Payable to Banks | Floor Plan Facility, floor plan notes | London Interbank Offered Rate (LIBOR)
Floor Plan Payable
Variable rate spread (as a percent)		2.05%
Variable rate basis (as a percent)		2.10	1.36
Line of Credit | Notes Payable to Banks | Floor Plan Facility, floor plan notes | London Interbank Offered Rate (LIBOR) | Minimum
Floor Plan Payable
Variable rate spread (as a percent)	2.05%
Line of Credit | Notes Payable to Banks | Floor Plan Facility, floor plan notes | London Interbank Offered Rate (LIBOR) | Maximum
Floor Plan Payable
Variable rate spread (as a percent)	2.50%
Line of Credit | Notes Payable to Banks | Floor Plan Facility, floor plan notes | Base Rate | Minimum
Floor Plan Payable
Variable rate spread (as a percent)	0.55%
Line of Credit | Notes Payable to Banks | Floor Plan Facility, floor plan notes | Base Rate | Maximum
Floor Plan Payable
Variable rate spread (as a percent)	1.00%

Inventories and Floor Plan Pa_5

Inventories and Floor Plan Payable - Floor Plan Outstanding (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017	Dec. 12, 2017
Floor Plan Payable
Less: borrowings	$ (24,403)
Floor Plan Facility
Floor Plan Payable
Total commitment	1,415,000	$ 1,415,000	$ 1,415,000
Less: borrowings, net	(734,038)	(974,043)
Less: flooring line aggregate interest reduction account	(147,481)	(106,055)
Additional borrowing capacity	533,481	334,902
Less: accounts payable for sold inventory	(59,236)	(31,311)
Less: purchase commitments	(39,723)	(77,144)
Unencumbered borrowing capacity	434,522	226,447
Line of Credit | Floor Plan Facility
Floor Plan Payable
Total commitment	35,000	35,000	$ 35,000
Less: borrowings	(24,403)
Additional borrowing capacity	10,597	35,000
Letters of credit | Floor Plan Facility
Floor Plan Payable
Total commitment	15,000	15,000
Less: outstanding letters of credit	(9,369)	(9,369)
Additional borrowing capacity	$ 5,631	$ 5,631

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Property and Equipment, net
Property and equipment, gross	$ 583,722	$ 370,063
Less: accumulated depreciation and amortization	(192,143)	(172,041)
Property and equipment, net	391,579	198,022
Adjustment
Property and Equipment, net
Property and equipment, gross		10,200
Less: accumulated depreciation and amortization		(10,200)
Land
Property and Equipment, net
Property and equipment, gross	69,123	12,243
Buildings and improvements
Property and Equipment, net
Property and equipment, gross	56,164	17,791
Leasehold improvements - inclusive of right to use assets
Property and Equipment, net
Property and equipment, gross	131,228	107,354
Furniture and equipment
Property and Equipment, net
Property and equipment, gross	191,548	130,204
Software
Property and Equipment, net
Property and equipment, gross	79,852	68,087
Systems development and construction in progress
Property and Equipment, net
Property and equipment, gross	$ 55,807	$ 34,384

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Change in Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Goodwill
Balance	$ 348,387
Acquisitions	40,700
Balance	389,087
Impairment of goodwill	0	$ 0
Consumer Services and Plans
Goodwill
Balance	49,944
Acquisitions	376
Balance	50,320
Retail
Goodwill
Balance	36,467
Acquisitions	3,579
Balance	40,046
Dealership
Goodwill
Balance	261,976
Acquisitions	36,745
Balance	$ 298,721

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Finite-lived Intangible Assets and Related Accumulated Amortization (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Intangible Assets
Cost or Fair Value	$ 48,433	$ 47,350
Accumulated Amortization	(12,023)	(8,643)
Net	$ 36,410	38,707
Membership and customer lists | Weighted Average
Intangible Assets
Useful lives (in years)	5 years
Trademarks and trade names
Intangible Assets
Useful lives (in years)	15 years
Websites
Intangible Assets
Useful lives (in years)	10 years
Consumer Services and Plans | Membership and customer lists
Intangible Assets
Cost or Fair Value	$ 9,140	8,374
Accumulated Amortization	(6,989)	(6,431)
Net	2,151	1,943
Retail | Customer lists and domain names
Intangible Assets
Cost or Fair Value	3,915	3,915
Accumulated Amortization	(1,805)	(1,048)
Net	2,110	2,867
Retail | Trademarks and trade names
Intangible Assets
Cost or Fair Value	29,304	28,987
Accumulated Amortization	(2,365)	(901)
Net	26,939	28,086
Retail | Websites
Intangible Assets
Cost or Fair Value	6,074	6,074
Accumulated Amortization	(864)	(263)
Net	$ 5,210	$ 5,811

Long-Term Debt - Tabular Disclo

Long-Term Debt - Tabular Disclosure (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Long-Term Debt
Term Loan Facility	$ 1,161,389	$ 916,902
Less: current portion	(11,991)	(9,465)
Long-term debt, net of current maturities	1,149,398	907,437
Unamortized discount	5,600	6,000
Finance costs	$ 14,100	$ 14,200

Long-Term Debt - Borrowings (De

Long-Term Debt - Borrowings (Details) - USD ($) $ in Millions	Mar. 28, 2018	Oct. 06, 2017	Mar. 17, 2017	Nov. 08, 2016	Dec. 31, 2017	Sep. 30, 2017	Sep. 30, 2018
Long-Term Debt
Debt Instrument, Unamortized Discount					$ 6		$ 5.6
Secured Debt | Line of Credit | Existing Senior Secured Credit Facility
Long-Term Debt
Maximum borrowing capacity			$ 740	$ 680
Maximum borrowing capacity, increase in capacity			$ 95
Mandatory amortization of new credit facility (as a percent)				1.00%
Secured Debt | Line of Credit | Existing Senior Secured Credit Facility, Term Loan Facility
Long-Term Debt
Maximum borrowing capacity	$ 1,190	$ 939.5		$ 645
Term				7 years
Maximum borrowing capacity, increase in capacity	$ 250	205
Mandatory amortization of new credit facility (as a percent)	1.01%
Principal payment frequency				quarterly
Quarterly amortization payment	$ 3	$ 2.4
Secured Debt | Revolving Credit Facility
Long-Term Debt
Quarterly amortization payment					$ 2.4	$ 1.9	$ 3
Secured Debt | Revolving Credit Facility | Existing Senior Secured Credit Facility, Term Loan Facility
Long-Term Debt
Term				5 years
Secured Debt | Revolving Credit Facility | Existing Senior Secured Credit Facility, Revolving Credit Facility
Long-Term Debt
Maximum borrowing capacity				$ 35

Long-Term Debt - Interest, Fees

Long-Term Debt - Interest, Fees, and Principal Payments (Details) - Secured Debt $ in Millions	Apr. 06, 2018	Mar. 28, 2018USD ($)	Mar. 27, 2018	Oct. 06, 2017	Nov. 08, 2016	Sep. 30, 2017	Sep. 30, 2018	Sep. 27, 2018	Sep. 26, 2018	Dec. 31, 2017USD ($)
Line of Credit
Long-Term Debt
Reduction in variable rate spread (as a percent)		25.00%
Line of Credit | Interest on Debt Instrument, Option One
Long-Term Debt
Variable rate basis floor (as a percent)		1.75%	2.00%
Variable rate spread (as a percent)				2.00%		2.75%
Line of Credit | Interest on Debt Instrument, Option Two | London Interbank Offered Rate (LIBOR)
Long-Term Debt
Variable rate spread (as a percent)		2.75%	3.00%	3.00%		3.75%
Line of Credit | Existing Senior Secured Credit Facility | Maximum
Long-Term Debt
Leverage ratio										1.50
Line of Credit | Existing Senior Secured Credit Facility | Leverage Ratio, First Period of Time
Long-Term Debt
Leverage ratio								3.75	3
Line of Credit | Existing Senior Secured Credit Facility | Leverage Ratio, Second Period of Time
Long-Term Debt
Leverage ratio								3.50	2.75
Line of Credit | Existing Senior Secured Credit Facility, Term Loan Facility
Long-Term Debt
Prepayment requirement as a percentage of excess cash flow (as a percent)							50.00%
Prepayment requirement as a percentage of excess cash flow, reduced amount (as a percent)							25.00%
Excess cash flow offer										$ 0
Line of Credit | Existing Senior Secured Credit Facility, Term Loan Facility | Minimum
Long-Term Debt
Leverage ratio							1.50
Line of Credit | Existing Senior Secured Credit Facility, Term Loan Facility | Maximum
Long-Term Debt
Leverage ratio							2
Line of Credit | Existing Senior Secured Credit Facility, Term Loan Facility | Interest on Debt Instrument, Option One | London Interbank Offered Rate (LIBOR)
Long-Term Debt
Variable rate basis floor (as a percent)	0.75%
Variable rate spread (as a percent)	2.75%
Line of Credit | Existing Senior Secured Credit Facility, Term Loan Facility | Interest on Debt Instrument, Option Two
Long-Term Debt
Alternate base rate (as a percent)	1.75%
Line of Credit | Existing Senior Secured Credit Facility, Term Loan Facility | Interest on Debt Instrument, Option Two | One Month Adjusted London Interbank Offer Rate
Long-Term Debt
Variable rate basis floor (as a percent)	1.75%
Variable rate spread (as a percent)	1.00%
Line of Credit | Existing Senior Secured Credit Facility, Term Loan Facility | Interest on Debt Instrument, Option Two | Federal Funds Effective Rate
Long-Term Debt
Variable rate spread (as a percent)	0.50%
Revolving Credit Facility
Long-Term Debt
Commitment fee (as a percent)					0.50%
Revolving Credit Facility | Existing Senior Secured Credit Facility, Revolving Credit Facility
Long-Term Debt
Amount subtracted from aggregate borrowings in determing compliance with the total leverage ratio		$ 5
The minimum percentage of the aggregate amount of the revolving lenders? revolving commitments		30.00%
Revolving Credit Facility | Existing Senior Secured Credit Facility, Revolving Credit Facility | Interest on Debt Instrument, Option One
Long-Term Debt
Variable rate basis floor (as a percent)	0.75%
Revolving Credit Facility | Existing Senior Secured Credit Facility, Revolving Credit Facility | Interest on Debt Instrument, Option Two | Minimum
Long-Term Debt
Variable rate spread (as a percent)	2.25%
Alternate base rate (as a percent)	3.25%
Revolving Credit Facility | Existing Senior Secured Credit Facility, Revolving Credit Facility | Interest on Debt Instrument, Option Two | Maximum
Long-Term Debt
Variable rate spread (as a percent)	2.50%
Alternate base rate (as a percent)	3.50%
Revolving Credit Facility | Existing Senior Secured Credit Facility, Revolving Credit Facility | Interest on Debt Instrument, Option Two | One Month Adjusted London Interbank Offer Rate
Long-Term Debt
Variable rate spread (as a percent)	1.00%
Revolving Credit Facility | Existing Senior Secured Credit Facility, Revolving Credit Facility | Interest on Debt Instrument, Option Two | Federal Funds Effective Rate
Long-Term Debt
Variable rate spread (as a percent)	0.50%

Long-Term Debt - General Inform

Long-Term Debt - General Information (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017	Nov. 08, 2016
Long-Term Debt
Amount outstanding	$ 1,161,389	$ 916,902
Secured Debt | Line of Credit | Existing Senior Secured Credit Facility, Term Loan Facility
Long-Term Debt
Average interest rate (as a percent)	4.87%
Amount outstanding	$ 1,181,100	937,100
Secured Debt | Revolving Credit Facility | Existing Senior Secured Credit Facility, Revolving Credit Facility
Long-Term Debt
Maximum amount allocated to letters of credit			$ 15,000
Available borrowings	32,200	31,800
Amount outstanding	0	0
Secured Debt | Letters of credit | Senior Secured Credit Facility, Letters of Credit
Long-Term Debt
Available borrowings	$ 2,800	$ 3,200

Right to Use Assets and Liabi_3

Right to Use Assets and Liabilities - Right to Use Assets (Details) - Right To Use Assets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Right to Use Assets
Right to use assets	$ 10,673	$ 10,673
Accumulated depreciation	(1,120)	(926)
Total	$ 9,553	$ 9,747

Right to Use Assets and Liabi_4

Right to Use Assets and Liabilities - Future Changes in the Right to Use Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)lease
Right to Use Liabilities
Scheduled derecognition of right to use liability due to reductions in the lease deposit to less than two months rent	$ 4,800
Number of month's rent the lease deposit is less than | lease	2
Right to Use Liabilities
Right to Use Liabilities
2,018	$ 218
2,019	486
2,020	486
2,021	487
2,022	487
Thereafter	13,260
Total minimum lease payments	15,424
Amounts representing interest	(5,350)
Present value of net minimum right to use liability payments	$ 10,074

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Fair Value Measurements
Transfers of assets between the fair value measurement levels 1 to level 2	$ 0	$ 0
Transfers of assets between the fair value measurement levels 2 to level 1	0	0
Transfers of liabilities between the fair value measurement levels 1 to level 2	0	0
Transfers of liabilities between the fair value measurement levels 2 to level 1	0	0
Transfers of assets or liabilities between the fair value measurement levels 3	0	0
Carrying Value
Fair Value Measurements
Term Loan Facility	1,161,389	916,902
Level 2 | Fair Value
Fair Value Measurements
Term Loan Facility	$ 1,161,954	$ 953,269

Cash Flows (Details)

Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash paid during the period for:
Interest	$ 70,326	$ 47,374
Income taxes	(17,408)	(25,660)
Non-cash investing activities:
Vehicles transferred to property and equipment from inventory	780	1,605
Portion of acquisition purchase price paid through issuance of Class A common stock		5,720
Landlord paid tenant improvements on behalf of the Company	28,431	857
Derecognition of non-tenant improvements	7,018
Capital expenditures in accounts payable and accrued liabilities	6,051	6,595
Non-cash financing activities:
Pa value of Class A common stock issued in exchange for common units in CWGS, LLC	3	66
Par value of Class A common stock issued for vested restricted stock units	$ 1
Par value of Class A common stock issued for acquisition		$ 1

Acquisitions - Assets (Liabilit

Acquisitions - Assets (Liabilities) Acquired (Assumed) at Fair Value (Details) - USD ($) $ in Thousands	Aug. 17, 2017	May 26, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Assets (liabilities) acquired (assumed) at fair value:
Goodwill			$ 389,087		$ 348,387
Cash paid for acquisition, net of cash acquired			$ 82,195	$ 345,140
Trademarks and trade names
Assets (liabilities) acquired (assumed) at fair value:
Estimated life (in years)			15 years
Websites
Assets (liabilities) acquired (assumed) at fair value:
Estimated life (in years)			10 years
Assets Or Stock Of Multiple Dealership Locations Acquired
Assets (liabilities) acquired (assumed) at fair value:
Cash and cash equivalents			$ 2,648
Contracts in Transit			103
Accounts receivable			103	1,306
Inventory			36,257	98,869
Prepaid expenses and other assets			79
Property and equipment			402	835
Other assets			48	72
Accounts payable			(64)
Accrued liabilities			(1,081)	(3,019)
Deferred revenues and gains			(168)
Total tangible net assets acquired			38,327	98,063
Intangible assets acquired			766	793
Goodwill			37,145	143,788
Purchase price			76,238	242,644
Cash and cash equivalents acquired			(2,648)
Cash paid for acquisition, net of cash acquired			73,590	242,644
Inventory purchases financed via floor plan			(29,365)	(79,321)
Cash payment net of floor plan financing			44,225	163,323
Assets Or Stock Of Multiple Dealership Locations Acquired | Membership and customer lists
Assets (liabilities) acquired (assumed) at fair value:
Intangible assets acquired			766	793
Gander Mountain and Overton's
Assets (liabilities) acquired (assumed) at fair value:
Purchase Price		$ 35,400
TheHouse.com
Assets (liabilities) acquired (assumed) at fair value:
Non-cash consideration	$ (5,700)
Outdoor and Activity Sports Retail Businesses
Assets (liabilities) acquired (assumed) at fair value:
Cash and cash equivalents				501
Accounts receivable				159
Inventory			4,599	47,129
Prepaid expenses and other assets			76	1,169
Property and equipment			416	9,530
Accounts payable				(7,582)
Accrued liabilities			(359)	(1,990)
Other liabilities				(6,016)
Total tangible net assets acquired			4,732	42,900
Intangible assets acquired			318	35,329
Goodwill			3,580	31,509
Purchase price			8,630	109,738
Cash and cash equivalents acquired				(501)
Cash paid for acquisition, net of cash acquired			8,630	102,496
Non-cash consideration				(5,720)
Contingent consideration unpaid at June 30, 2017				(1,021)
Outdoor and Activity Sports Retail Businesses | Membership and customer lists
Assets (liabilities) acquired (assumed) at fair value:
Intangible assets acquired				500
Outdoor and Activity Sports Retail Businesses | Trademarks and trade names
Assets (liabilities) acquired (assumed) at fair value:
Intangible assets acquired			$ 318	28,839
Outdoor and Activity Sports Retail Businesses | Websites
Assets (liabilities) acquired (assumed) at fair value:
Intangible assets acquired				$ 5,990

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Acquisitions
Real properties purchased	$ 100.1	$ 16.8
Real properties purchased from parties related to the sellers of the dealership businesses	23.6	12.8
Goodwill for tax purposes	3.6	6.2
Assets Or Stock Of Multiple Dealership Locations Acquired
Acquisitions
Goodwill for tax purposes	20.7	143.8
Revenue	55.1	210.7
Pre-tax income (loss)	3.5	13.8
Gander Mountain and Overton's
Acquisitions
Revenue		26
Pre-tax income (loss)		$ 11.5
Erehwon and Rock Creek
Acquisitions
Revenue	10.4
Pre-tax income (loss)	$ 0.4

Acquisitions - Purchase Price (

Acquisitions - Purchase Price (Details) $ in Millions	Apr. 19, 2018USD ($)	Jan. 30, 2018USD ($)	Sep. 22, 2017USD ($)	Aug. 17, 2017USD ($)	May 26, 2017USD ($)storelease	Sep. 30, 2018store	May 25, 2017store
Acquisitions
Number of locations | store						227
Gander Mountain and Overton's
Acquisitions
Purchase Price					$ 35.4
Liability incurred/extinguished with acquisition					$ 1
Gander Mountain
Acquisitions
Number of locations | store							160
Number of stores rebranded as Gander Outdoors | store						61
Number of stores closed | store						1
Number of stores to be rebranded to Gander Outdoors | store						9
Overton's
Acquisitions
Number of locations | store					2
Number of stores closed | store						2
TheHouse.com
Acquisitions
Liability incurred/extinguished with acquisition				$ 35.3
Cash paid for acquisition				30
Non-cash consideration - Class A shares issued				$ 5.7
W82
Acquisitions
Cash paid for acquisition			$ 0.6
Extinguishment of debt			$ 1.5
Erehwon
Acquisitions
Cash paid for acquisition		$ 3.5
Rock Creek
Acquisitions
Cash paid for acquisition	$ 5.2
Minimum | Gander Mountain
Acquisitions
Number of retail leases | lease					15

Income Taxes - Federal Tax purp

Income Taxes - Federal Tax purpose (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Oct. 06, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
U.S. Federal income tax rate (as a percent)				35.00%	21.00%		35.00%
Deferred tax expense					$ (1,400)		$ 118,400
Decrease in effective income tax rate			1.88%		(0.81%)
Increase in income tax receivable					$ 6,500
Increase in tax receivable agreement liability					2,000
Decrease in deferred tax assets					$ 2,200
Effective tax rate			19.20%	9.10%	17.30%	10.60%
Uncertain tax positions			$ 300		$ 300		0
Interest or penalties relating to income taxes			100	$ 0
Current portion of liabilities under tax receivable agreement			$ 10,404		$ 10,404		$ 8,093
Tax receivable agreement
Expected future tax benefits retained by the Company (as a percent)		15.00%
Tax receivable agreement | Continuing Equity Owners and Crestview partners II GP LP
Payment, as percent of tax benefits (as a percent)		85.00%
CWGS, LLC | Tax receivable agreement
Units issued in exchange					215,486	6,525,610
CWH | CWGS, LLC
Ownership interest	41.80%	22.60%			41.80%		41.50%
Units held			37,056,971		37,056,971		36,749,072
Crestview Partners II GP LP | Tax receivable agreement
Liability under tax receivable agreement			$ 133,700		$ 133,700		$ 137,700
Current portion of liabilities under tax receivable agreement			$ 10,400		$ 10,400		$ 8,100

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Related party transactions
Cash distribution to members			$ 98,347,000	$ 124,996,000
Stephen Adams
Related party transactions
Related party expense			200,000	0
Payments to related party for purchasing advertising services	$ 0	$ 0
Cumulus Media
Related party transactions
Related party expense	100,000	400,000	200,000	400,000
Kaplan, Strangis and Kaplan PA
Related party transactions
Related party expense			200,000	300,000
Related Party Agreement | Precise Graphix
Related party transactions
Related party expense	800,000	500,000	4,400,000	1,700,000
FreedomRoads | Lease Agreement | Managers and Officers
Related party transactions
Related party expense	$ 500,000	500,000	$ 1,500,000	1,400,000
FreedomRoads | Lease Agreement | Mr. Lemonis | Original Lease
Related party transactions
Initial term of lease	132 months		132 months
Base rent	$ 29,000		$ 29,000
Lease payments	180,000	193,000	512,000	546,000
Common area maintenance payments	$ 79,000	94,000	$ 212,000	252,000
FreedomRoads | Lease Agreement | Mr. Lemonis | Expansion Lease
Related party transactions
Initial term of lease	132 months		132 months
Base rent	$ 2,500		$ 2,500
Lease payments	9,000	8,000	$ 26,000	25,000
Mr. Lemonis | Precise Graphix
Related party transactions
Economic interest (as a percent)			33.00%
Mr. Lemonis | JD Custom | Mr. Lemonis
Related party transactions
Related party expense	$ 100,000	$ 0	$ 400,000	$ 0
Economic interest (as a percent)			52.00%
Stephen Adams | Adams Radio | Stephen Adams
Related party transactions
Indirect interest	90.00%		90.00%

Stockholders' Equity - (Details

Stockholders' Equity - (Details)	Jun. 30, 2018	Nov. 01, 2017USD ($)shares	Oct. 30, 2017USD ($)$ / sharesshares	Jun. 09, 2017USD ($)shares	Jun. 05, 2017shares	May 31, 2017USD ($)$ / sharesshares	Oct. 06, 2016classshares	May 31, 2018USD ($)	May 31, 2017$ / sharesshares	Sep. 30, 2018USD ($)shares	Dec. 31, 2017shares
Common Stock
Number of classes of common stock | class							3
Proceeds from issuance of common stock | $				$ 16,000,000
Proceeds from short-swing profit disgorgement | $										$ 557,000
M L Acquisition Company LLC And M L Related Parties
Common Stock
Proceeds from short-swing profit disgorgement | $								$ 557,000
Over allotment | October 2017 Selling Stockholders
Common Stock
Shares issued by selling stockholders			1,005,000
Class A common stock
Common Stock
Common stock, outstanding										37,056,971	36,749,072
Number of shares issued						4,000,000
Offering price (in dollars per share) | $ / shares						$ 27.75			$ 27.75
Proceeds from issuance of common stock | $						$ 106,600,000
Class A common stock | May 2017 Selling Stockholders
Common Stock
Offering price (in dollars per share) | $ / shares						$ 27.75			$ 27.75
Shares issued by selling stockholders				825,000		5,500,000			5,500,000
Class A common stock | CVRV Acquisition LLC
Common Stock
Redemption of common stock by selling shareholders			4,715,529
Shares of common stock redeemed for shares of common stock				648,462		4,323,083			4,323,083
Class A common stock | CVRV Acquisition II LLC
Common Stock
Shares sold that were previously held		184,669	1,283,756	176,538					1,176,917
Class A common stock | October 2017 Selling Stockholders
Common Stock
Number of shares issued			6,700,000
Offering price (in dollars per share) | $ / shares			$ 40.50
Shares issued by selling stockholders		963,799
Class A common stock | Crestview Advisors LLC
Common Stock
Shares sold that were previously held		104	715
Class A common stock | CWGS Holding, LLC and CVRV Acquisition LLC
Common Stock
Redemption of common stock by selling shareholders		678,331
Shares of common stock redeemed for shares of common stock		678,331
Class A common stock | Over allotment
Common Stock
Number of shares issued				600,000	600,000
Class A common stock | Over allotment | May 2017 Selling Stockholders
Common Stock
Shares issued by selling stockholders					825,000
Class A common stock | Over allotment | October 2017 Selling Stockholders
Common Stock
Shares issued by selling stockholders			963,799
Class B common stock
Common Stock
Common stock, outstanding										50,706,629	50,836,629
Consideration for redemption of shares | $		$ 0
Class B common stock | May 2017 Selling Stockholders
Common Stock
Consideration for redemption of shares | $				$ 0		$ 0
Class B common stock | CVRV Acquisition LLC
Common Stock
Number of common stock cancelled		678,331		648,462		4,323,083			4,323,083
Class B common stock | October 2017 Selling Stockholders
Common Stock
Consideration for redemption of shares | $			$ 0
Class B common stock | CWGS Holding LLC
Common Stock
Number of common stock cancelled		100,695	700,000
Class C common stock
Common Stock
Common stock, outstanding										1	1
CWH BR Merger | Class A common stock
Common Stock
Shares issued in acquisition							7,063,716
CWH BR Merger | Class B common stock
Common Stock
Shares cancelled							7,063,716
CWGS, LLC
Common Stock
Purchase of newly-issued common units				600,000		4,000,000			4,000,000
CWGS, LLC | Class A common stock | CVRV Acquisition LLC
Common Stock
Redemption of common stock by selling shareholders						4,323,083
Shares of common stock redeemed for shares of common stock			4,715,529
CWGS, LLC | Class A common stock | October 2017 Selling Stockholders
Common Stock
Redemption of common stock by selling shareholders			700,000
CWGS, LLC | Class A common stock | CWGS Holding, LLC and CVRV Acquisition LLC
Common Stock
Redemption of common stock by selling shareholders		100,695	700,000
Shares of common stock redeemed for shares of common stock		100,695
CWGS, LLC | Class B common stock | CVRV Acquisition LLC
Common Stock
Redemption of common stock by selling shareholders				648,462
CWGS, LLC | CWH BR Merger
Common Stock
Common stock, outstanding							7,063,716
CWH | CWGS, LLC
Common Stock
Units held										37,056,971	36,749,072
Ownership interest	41.80%						22.60%			41.80%	41.50%
Merged Entity | CWGS, LLC
Common Stock
Units held							7,063,716
Continuing Equity Owners | CWGS, LLC
Common Stock
Units held										51,675,009	51,890,495
Percentage of ownership							77.40%			58.20%	58.50%

Non-Controlling Interests (Deta

Non-Controlling Interests (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Oct. 06, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Summarizes the effects of change in ownership:
Net income attributable to Camping World Holdings, Inc.			$ 14,016	$ 19,589	$ 45,228	$ 46,455
Transfers to non-controlling interests:
Decrease in additional paid-in capital as a result of the contribution of Class A common stock to CWGS, LLC for an acquisition by a subsidiary				(3,678)		(3,678)
Change from net income attributable to Camping World Holdings, Inc. and transfers to non-controlling interests			16,541	29,802	49,547	23,045
Additional Paid-in Capital
Transfers to non-controlling interests:
Decrease in additional paid-in capital as a result of the purchase of common units from CWGS, LLC						(87,203)
Decrease in additional paid-in capital as a result of the purchase of common units from CWGS, LLC with proceeds from the exercise of stock options			(4)		(86)
Increase in additional paid-in capital as a result of the vesting of restricted stock units			44		73
Increase in additional paid-in capital as a result of the redemption of common units of CWGS, LLC			$ 2,485	$ 13,891	$ 4,332	$ 67,471
CWGS, LLC
Non-Controlling Interests
LLC outstanding			88,731,980		88,731,980		88,639,567
CWH | CWGS, LLC
Non-Controlling Interests
Units held			37,056,971		37,056,971		36,749,072
Ownership interest	41.80%	22.60%			41.80%		41.50%
Continuing Equity Owners | CWGS, LLC
Non-Controlling Interests
Units held			51,675,009		51,675,009		51,890,495
Percentage of ownership		77.40%	58.20%		58.20%		58.50%

Equity-based Compensation Pla_3

Equity-based Compensation Plans - Summary of Equity-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Equity-based compensation expense:
Equity based compensation expense	$ 4,188	$ 1,204	$ 10,535	$ 2,792
Costs applicable to revenue
Equity-based compensation expense:
Equity based compensation expense	223	81	570	254
Selling, general, and administrative
Equity-based compensation expense:
Equity based compensation expense	$ 3,965	$ 1,123	$ 9,965	$ 2,538

Equity-based Compensation Pla_4

Equity-based Compensation Plans - Stock Options (Details) - Stock options shares in Thousands	9 Months Ended
	Sep. 30, 2018shares
Stock Options
Outstanding at December 31, 2017 (in shares)	953
Exercised (in shares)	(7)
Forfeited (in shares)	(48)
Outstanding at June 30, 2018 (in shares)	898
Options exercisable at June 30, 2018 (in shares)	171

Equity-based Compensation Pla_5

Equity-based Compensation Plans - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) shares in Thousands	9 Months Ended
	Sep. 30, 2018$ / sharesshares
Share-based Compensation Plans
Weighted average grant date fair value (per share) | $ / shares	$ 25.73
Restricted Stock Units
Outstanding at December 31, 2017 (in shares)	1,247
Granted (in shares)	725
Vested (in shares)	89
Forfeited (in shares)	(52)
Outstanding at June 30, 2018 (in shares)	1,831
Weighted Average Grant Date Fair Value
Outstanding at December 31, 2017 (per share) | $ / shares	$ 25.73

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Numerator:
Net income	$ 47,909	$ 83,752	$ 147,000	$ 238,468
Less: net income attributable to non-controlling interests	(33,893)	(64,163)	(101,772)	(192,013)
Class A common stock
Numerator:
Net income	47,909	83,752	147,000	238,468
Less: net income attributable to non-controlling interests	(33,893)	(64,163)	(101,772)	(192,013)
Net income attributable to Camping World Holdings, Inc. - basic	14,016	19,589	45,228	46,455
Add: reallocation of net income attributable to non-controlling interests from the assumed dilutive effect of stock options and RSUs	9
Add: Reallocation of net income attributable to non-controlling interests from the assumed exchange of common units of CWGS, LLC for Class A common stock			61,751	117,482
Net income attributable to Camping World Holdings, Inc. - diluted	$ 14,025	$ 19,589	$ 106,979	$ 163,937
Denominator:
Weighted-average shares of Class A common stock outstanding - basic	37,018,000	29,522,000	36,933,000	23,854,000
Dilutive common units of CWGS, LLC that are convertible into Class A common stock			51,751,000	62,093,000
Weighted-average shares of Class A common stock outstanding - diluted	37,055,000	29,522,000	88,891,000	85,947,000
Earnings per share of Class A common stock - basic	$ 0.38	$ 0.66	$ 1.22	$ 1.95
Earnings per share of Class A common stock - diluted	$ 0.38	$ 0.66	$ 1.20	$ 1.91
Class A common stock | Stock Option
Denominator:
Dilutive - share based payment arrangements			104,000
Class A common stock | Restricted Stock Units (RSUs)
Denominator:
Dilutive - share based payment arrangements	37,000		103,000
Class A common stock | Stock Option
Antidilutive securities excluded from the computation of diluted earnings per share	903	1,063	611	1,086
Class A common stock | Restricted Stock Units (RSUs)
Antidilutive securities excluded from the computation of diluted earnings per share	1,639	362	851	246
CWGS, LLC | Class A common stock | Common Units
Antidilutive securities excluded from the computation of diluted earnings per share	51,708	58,930

Segments Information - General

Segments Information - General Information (Details) - segment	3 Months Ended	6 Months Ended
	Sep. 30, 2018	Jun. 30, 2018
Segments Information
Number of reportable segments	3	2
Retail
Segments Information
Number of segments separated into	2

Segments Information - Revenue

Segments Information - Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segments Information
Revenue	$ 1,312,727	$ 1,235,602	$ 3,819,469	$ 3,396,263
Intersegment Eliminations
Segments Information
Revenue	(40,378)	(36,251)	(115,997)	(103,894)
Consumer Services and Plans
Segments Information
Revenue	52,044	46,169	158,600	144,518
Consumer Services and Plans | Intersegment Eliminations
Segments Information
Revenue	(182)	(173)	(1,909)	(1,414)
New vehicles
Segments Information
Revenue	697,317	713,362	2,084,346	1,977,472
New vehicles | Intersegment Eliminations
Segments Information
Revenue	(1,946)	(1,604)	(6,018)	(5,172)
Used vehicles
Segments Information
Revenue	197,757	187,463	580,494	528,897
Used vehicles | Intersegment Eliminations
Segments Information
Revenue	(798)	(1,084)	(2,322)	(2,427)
Dealership parts, services and other
Segments Information
Revenue	71,607	66,847	210,024	185,586
Finance and insurance, net
Segments Information
Revenue	109,459	100,858	325,368	267,207
Finance and insurance, net | Intersegment Eliminations
Segments Information
Revenue	(3,018)	(2,277)	(8,920)	(6,015)
Retail
Segments Information
Revenue	184,543	120,903	460,637	292,583
Retail | Intersegment Eliminations
Segments Information
Revenue	(34,434)	(31,113)	(96,828)	(88,866)
Consumer Services and Plans
Segments Information
Revenue	52,044	46,169	158,600	144,518
Consumer Services and Plans | Operating Segments
Segments Information
Revenue	52,226	46,342	160,509	145,932
Consumer Services and Plans | Consumer Services and Plans | Operating Segments
Segments Information
Revenue	52,226	46,342	160,509	145,932
Dealership | Operating Segments
Segments Information
Revenue	1,081,902	1,073,495	3,217,492	2,972,776
Dealership | New vehicles
Segments Information
Revenue	697,317	713,362	2,084,346	1,977,472
Dealership | New vehicles | Operating Segments
Segments Information
Revenue	699,263	714,966	2,090,364	1,982,644
Dealership | Used vehicles
Segments Information
Revenue	197,757	187,463	580,494	528,897
Dealership | Used vehicles | Operating Segments
Segments Information
Revenue	198,555	188,547	582,816	531,324
Dealership | Dealership parts, services and other
Segments Information
Revenue	71,607	66,847	210,024	185,586
Dealership | Dealership parts, services and other | Operating Segments
Segments Information
Revenue	71,607	66,847	210,024	185,586
Dealership | Finance and insurance, net
Segments Information
Revenue	109,459	100,858	325,368	267,207
Dealership | Finance and insurance, net | Operating Segments
Segments Information
Revenue	112,477	103,135	334,288	273,222
Retail
Segments Information
Revenue	184,543	120,903	460,637	292,583
Retail | Operating Segments
Segments Information
Revenue	218,977	152,016	557,465	381,449
Retail | Retail | Operating Segments
Segments Information
Revenue	$ 218,977	$ 152,016	$ 557,465	$ 381,449

Segments Information - Segment

Segments Information - Segment Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segments Information
Total segment income	$ 83,903	$ 110,664	$ 253,882	$ 317,089
Selling, general, and administrative expense	(278,329)	(236,174)	(807,738)	(640,108)
Depreciation and amortization	(13,179)	(8,382)	(34,207)	(22,819)
Other interest expense, net	(16,794)	(11,012)	(45,740)	(30,973)
Tax Receivable Agreement liability adjustment		(96)		(79)
Loss and expense on debt restructure			(2,056)
Income before income taxes	59,294	92,142	177,706	266,734
Operating Segments
Segments Information
Total segment income	90,873	113,669	264,279	327,066
Depreciation and amortization	(12,984)	(8,154)	(34,012)	(22,476)
Other interest expense, net	(1,362)	(1,424)	(4,183)	(4,380)
Corporate, Non-Segment
Segments Information
Selling, general, and administrative expense	(1,606)	(2,037)	(4,570)	(6,461)
Depreciation and amortization	(195)	(228)	(195)	(343)
Other interest expense, net	(15,432)	(9,588)	(41,557)	(26,593)
Consumer Services and Plans | Operating Segments
Segments Information
Total segment income	26,018	21,675	81,732	71,887
Depreciation and amortization	(951)	(888)	(2,546)	(2,889)
Other interest expense, net	(1)	(1)	1	(5)
Dealership | Operating Segments
Segments Information
Total segment income	85,529	97,116	262,215	259,710
Depreciation and amortization	(3,975)	(3,466)	(11,676)	(10,130)
Other interest expense, net	(1,183)	(876)	(3,626)	(2,916)
Retail | Operating Segments
Segments Information
Total segment income	(20,674)	(5,122)	(79,668)	(4,531)
Depreciation and amortization	(8,058)	(3,800)	(19,790)	(9,457)
Other interest expense, net	$ (178)	$ (547)	$ (558)	$ (1,459)

Segments Information - Deprecia

Segments Information - Depreciation and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segments Information
Depreciation and amortization	$ 13,179	$ 8,382	$ 34,207	$ 22,819
Operating Segments
Segments Information
Depreciation and amortization	12,984	8,154	34,012	22,476
Corporate, Non-Segment
Segments Information
Depreciation and amortization	195	228	195	343
Consumer Services and Plans | Operating Segments
Segments Information
Depreciation and amortization	951	888	2,546	2,889
Dealership | Operating Segments
Segments Information
Depreciation and amortization	3,975	3,466	11,676	10,130
Retail | Operating Segments
Segments Information
Depreciation and amortization	$ 8,058	$ 3,800	$ 19,790	$ 9,457

Segments Information - Other In

Segments Information - Other Interest Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segments Information
Other interest expense, net	$ 16,794	$ 11,012	$ 45,740	$ 30,973
Operating Segments
Segments Information
Other interest expense, net	1,362	1,424	4,183	4,380
Corporate, Non-Segment
Segments Information
Other interest expense, net	15,432	9,588	41,557	26,593
Consumer Services and Plans | Operating Segments
Segments Information
Other interest expense, net	1	1	(1)	5
Dealership | Operating Segments
Segments Information
Other interest expense, net	1,183	876	3,626	2,916
Retail | Operating Segments
Segments Information
Other interest expense, net	$ 178	$ 547	$ 558	$ 1,459

Segments Information - Assets (

Segments Information - Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Segments Information
Assets	$ 2,827,098	$ 2,561,477
Operating Segments
Segments Information
Assets	2,602,291	2,258,830
Corporate, Non-Segment
Segments Information
Assets	224,807	302,647
Consumer Services and Plans | Operating Segments
Segments Information
Assets	140,992	180,295
Dealership | Operating Segments
Segments Information
Assets	1,685,916	1,715,084
Retail | Operating Segments
Segments Information
Assets	$ 775,383	$ 363,451

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event - Real Estate Facility - Secured Debt $ in Thousands	Nov. 02, 2018USD ($)
Subsequent event
Maximum borrowing capacity	$ 21,525
Debt issued	$ 4,200
Commitment fee (as a percent)	0.50%
Debt service coverage ratio	1.250
London Interbank Offered Rate (LIBOR)
Subsequent event
Variable rate spread (as a percent)	2.75%
Federal Funds Effective Rate
Subsequent event
Variable rate spread (as a percent)	0.50%
Prime Rate
Subsequent event
Variable rate spread (as a percent)	0.75%