Camping World (CWH) 10-Q 8 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 04, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2020
Entity File Number	001-37908
Entity Registrant Name	CAMPING WORLD HOLDINGS, INC.
Entity Central Index Key	0001669779
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-1737145
Entity Address, Address Line One	250 Parkway Drive, Suite 270
Entity Address, City or Town	Lincolnshire
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60069
City Area Code	847
Local Phone Number	808-3000
Title of 12(b) Security	Class A Common Stock
Trading Symbol	CWH
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Class A
Document and Entity Information
Entity Common Stock, Shares Outstanding		37,539,786
Common Class B
Document and Entity Information
Entity Common Stock, Shares Outstanding		50,706,629
Common Class C
Document and Entity Information
Entity Common Stock, Shares Outstanding		1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 109,406	$ 147,521
Contracts in transit	54,794	44,947
Accounts receivable, less allowance for doubtful accounts of $3,451 and $3,537 in 2020 and 2019, respectively	71,989	81,847
Inventories	1,439,453	1,358,539
Prepaid expenses and other assets	51,829	57,827
Total current assets	1,727,471	1,690,681
Property and equipment, net	304,234	314,374
Operating lease assets	810,562	807,537
Deferred tax assets, net	127,746	129,710
Intangible assets, net	28,824	29,707
Goodwill	386,945	386,941
Other assets	16,779	17,290
Total assets	3,402,561	3,376,240
Current liabilities:
Accounts payable	159,189	106,959
Accrued liabilities	133,611	130,316
Deferred revenues	82,187	87,093
Current portion of operating lease liabilities	60,300	58,613
Current portion of Tax Receivable Agreement liability	6,563	6,563
Current portion of long-term debt	13,962	14,085
Notes payable - floor plan, net	846,424	848,027
Other current liabilities	46,833	44,298
Total current liabilities	1,349,069	1,295,954
Operating lease liabilities, net of current portion	845,106	843,312
Tax Receivable Agreement liability, net of current portion	108,286	108,228
Revolving line of credit	40,885	40,885
Long-term debt, net of current portion	1,151,097	1,153,551
Deferred revenues	57,915	58,079
Other long-term liabilities	34,621	35,467
Total liabilities	3,586,979	3,535,476
Commitments and contingencies
Stockholders' equity (deficit):
Preferred stock, par value $0.01 per share - 20,000,000 shares authorized; none issued and outstanding as of March 31, 2020 and December 31, 2019
Additional paid-in capital	51,596	50,152
Retained deficit	(97,046)	(83,134)
Total stockholders' deficit attributable to Camping World Holdings, Inc.	(45,070)	(32,602)
Non-controlling interests	(139,348)	(126,634)
Total stockholders' deficit	(184,418)	(159,236)
Total liabilities and stockholders' deficit	3,402,561	3,376,240
Common Class A
Stockholders' equity (deficit):
Common stock	375	375
Total stockholders' deficit	375	375
Common Class B
Stockholders' equity (deficit):
Common stock	5	5
Total stockholders' deficit	5	5
Common Class C
Stockholders' equity (deficit):
Common stock

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Stockholders' equity (deficit)
Allowance for doubtful accounts	$ 3,451	$ 3,537
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
Common Class A
Stockholders' equity (deficit)
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	250,000,000	250,000,000
Common stock, issued	37,768,220	37,701,584
Common stock, outstanding	37,539,786	37,488,989
Common Class B
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	50,706,629
Common Class C
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

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue:
Total revenue	$ 1,027,273	$ 1,064,769
Costs applicable to revenue (exclusive of depreciation and amortization shown separately below):
Total costs applicable to revenue	724,610	766,442
Operating expenses:
Selling, general, and administrative	267,656	268,065
Depreciation and amortization	14,078	13,594
Long-lived asset impairment	6,569
Loss on lease termination	584
Loss (gain) on disposal of assets	511	(214)
Total operating expenses	289,398	281,445
Income from operations	13,265	16,882
Other income (expense):
Floor plan interest expense	(8,604)	(11,610)
Other interest expense, net	(14,658)	(17,643)
Tax Receivable Agreement liability adjustment		8,477
Total other income (expense)	(23,262)	(20,776)
Loss before income taxes	(9,997)	(3,894)
Income tax expense	(4,132)	(22,913)
Loss income	(14,129)	(26,807)
Less: net loss attributable to non-controlling interests	5,969	7,412
Net loss attributable to Camping World Holdings, Inc.	$ (8,160)	$ (19,395)
Income (loss) earnings per share of Class A common stock:
Basic	$ (0.22)	$ (0.52)
Diluted	$ (0.22)	$ (0.52)
Weighted average shares of Class A common stock outstanding:
Basic	37,534	37,195
Diluted	37,534	37,195
Common Class A
Income (loss) earnings per share of Class A common stock:
Basic	$ (0.22)	$ (0.52)
Diluted	$ (0.22)	$ (0.52)
Weighted average shares of Class A common stock outstanding:
Basic	37,534	37,195
Diluted	37,534	37,195
New vehicles
Revenue:
Total revenue	$ 497,317	$ 529,577
Used vehicles
Revenue:
Total revenue	206,665	180,008
Products, service and other
Revenue:
Total revenue	172,623	204,876
Finance and insurance, net
Revenue:
Total revenue	92,456	91,891
Good Sam Club
Revenue:
Total revenue	11,004	11,451
Good Sam Services and Plans
Revenue:
Total revenue	47,208	46,966
Costs applicable to revenue (exclusive of depreciation and amortization shown separately below):
Total costs applicable to revenue	21,859	20,731
RV and Outdoor Retail
Revenue:
Total revenue	980,065	1,017,803
Costs applicable to revenue (exclusive of depreciation and amortization shown separately below):
Total costs applicable to revenue	702,751	745,711
RV and Outdoor Retail | New vehicles
Revenue:
Total revenue	497,317	529,577
Costs applicable to revenue (exclusive of depreciation and amortization shown separately below):
Total costs applicable to revenue	426,442	463,044
RV and Outdoor Retail | Used vehicles
Revenue:
Total revenue	206,665	180,008
Costs applicable to revenue (exclusive of depreciation and amortization shown separately below):
Total costs applicable to revenue	163,793	142,846
RV and Outdoor Retail | Products, service and other
Revenue:
Total revenue	172,623	204,876
Costs applicable to revenue (exclusive of depreciation and amortization shown separately below):
Total costs applicable to revenue	110,269	136,104
RV and Outdoor Retail | Finance and insurance, net
Revenue:
Total revenue	92,456	91,891
RV and Outdoor Retail | Good Sam Club
Revenue:
Total revenue	11,004	11,451
Costs applicable to revenue (exclusive of depreciation and amortization shown separately below):
Total costs applicable to revenue	$ 2,247	$ 3,717

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Additional Paid-in Capital	Retained Earnings (Deficit)	Non-controlling Interest	Common Class A	Common Class B	Common Class C	Total
Balance at Dec. 31, 2018	$ 47,531	$ (3,370)	$ (11,621)	$ 372	$ 5		$ 32,917
Balance (in shares) at Dec. 31, 2018				37,192,000	50,707,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	2,716						2,716
Vesting of restricted stock units (in shares)				1,000
Redemption of LLC common units for Class A common stock	12						12
Redemption of LLC common units for Class A common stock (in shares)				6,000
Distributions to holders of LLC common units			(5,534)				(5,534)
Dividends		(5,699)					(5,699)
Establishment of liabilities under the Tax Receivable Agreement and related changes to deferred tax assets associated with that liability	(8)						(8)
Non-controlling interest adjustment	(1,678)		1,678
Net loss		(19,395)	(7,412)				(26,807)
Balance at Mar. 31, 2019	48,573	(24,759)	(16,557)	$ 372	$ 5		7,634
Balance (in shares) at Mar. 31, 2019				37,199,000	50,707,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of accounting standard		3,705	6,332				10,037
Balance at Dec. 31, 2019	50,152	(83,134)	(126,634)	$ 375	$ 5		(159,236)
Balance (in shares) at Dec. 31, 2019				37,488,989	50,706,629	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	3,312						3,312
Vesting of restricted stock units	82		(82)
Vesting of restricted stock units (in shares)				47,000
Repurchases of Class A common stock for withholding taxes on vested RSUs	(212)						(212)
Repurchases of Class A common stock for withholding taxes on vested RSUs (in shares)				(16,000)
Redemption of LLC common units for Class A common stock	4		49				53
Redemption of LLC common units for Class A common stock (in shares)				20,000
Distributions to holders of LLC common units			(8,410)				(8,410)
Dividends		(5,752)					(5,752)
Establishment of liabilities under the Tax Receivable Agreement and related changes to deferred tax assets associated with that liability	(44)						(44)
Non-controlling interest adjustment	(1,698)		1,698
Net loss		(8,160)	(5,969)				(14,129)
Balance at Mar. 31, 2020	$ 51,596	$ (97,046)	$ (139,348)	$ 375	$ 5		$ (184,418)
Balance (in shares) at Mar. 31, 2020				37,539,786	50,706,629	1

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Deficit) (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Common Class A
Dividends declared per share	$ 0.15	$ 0.15

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities
Net loss	$ (14,129)	$ (26,807)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	14,078	13,594
Equity-based compensation	3,312	2,716
Loss on lease termination	584
Long-lived asset impairment	6,569
Loss (gain) on disposal of assets	511	(214)
Provision for losses on accounts receivable	483	186
Non-cash lease expense	14,208	13,495
Accretion of original debt issuance discount	263	267
Non-cash interest	1,014	1,162
Deferred income taxes	2,031	16,412
Tax Receivable Agreement liability adjustment		(8,477)
Change in assets and liabilities, net of acquisitions:
Receivables and contracts in transit	(472)	(65,493)
Inventories	(80,799)	(54,496)
Prepaid expenses and other assets	5,678	4,976
Accounts payable and other accrued expenses	53,864	55,392
Accrued rent for cease-use locations		542
Deferred revenue	(5,070)	(5,805)
Operating lease liabilities	(18,415)	(13,941)
Other, net	1,101	(7,529)
Net cash provided by (used in) operating activities	(15,189)	(74,020)
Investing activities
Purchases of property and equipment	(8,668)	(11,761)
Purchase of real property		(665)
Proceeds from the sale of real property		10,226
Purchases of businesses, net of cash acquired		(21,169)
Proceeds from sale of property and equipment	212	453
Net cash used in investing activities	(8,456)	(22,916)
Financing activities
Payments on long-term debt	(3,534)	(3,232)
Net borrowings on notes payable - floor plan, net	3,438	38,972
Borrowings on revolving line of credit		3,871
Payments of principal on finance lease obligations		(14)
Dividends on Class A common stock	(5,752)	(5,699)
RSU shares withheld for tax	(212)
Members' distributions	(8,410)	(5,534)
Net cash (used in) provided by financing activities	(14,470)	28,364
Decrease in cash and cash equivalents	(38,115)	(68,572)
Cash and cash equivalents at beginning of the period	147,521	138,557
Cash and cash equivalents at end of the period	$ 109,406	$ 69,985

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The condensed consolidated financial statements include the accounts of Camping World Holdings, Inc. and its subsidiaries, 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 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 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 months ended March 31, 2020 are unaudited. The condensed consolidated balance sheet as of December 31, 2019 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, 2019 (the “Annual Report”) filed with the SEC on February 28, 2020. Operating results for 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 IPO and other related transactions in order to carry on the business of 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 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 (see Note 14 — Stockholders’ Equity). Despite its position as sole managing member of CWGS, LLC, CWH has a minority economic interest in CWGS, LLC. As of March 31, 2020 and December 31, 2019, CWH owned 42.1% and 42.0%, respectively, of CWGS, LLC. Accordingly, the Company consolidates the financial results of CWGS, LLC and reports a non-controlling interest in its condensed consolidated financial statements. The Company does not have any components of other comprehensive income recorded within its condensed consolidated financial statements, and, therefore, does not separately present a statement of comprehensive income in its condensed consolidated financial statements. COVID-19 A novel strain of coronavirus was first identified in Wuhan, China in December 2019 and COVID-19 was subsequently declared a pandemic by the World Health Organization. To date, COVID-19 has surfaced in nearly all regions of the world and resulted in travel restrictions and business slowdowns or shutdowns in affected areas. As a result, COVID-19 has impacted the Company’s business, in particular its revenue, due to decreased retail and online traffic. The Company has implemented preparedness plans to keep its employees and customers healthy and safe, which include social distancing, providing employees with face coverings and/or other protective clothing as required, implementing additional cleaning and sanitization routines, and work-from-home directives for a significant portion of our workforce. The majority of the Company’s RV and Outdoor Retail locations have continued to operate as essential businesses and consequently have remained open to serve its customers through the pandemic, and the Company continues to operate its e-commerce business. The Company has temporarily reduced salaries and hours throughout the business, including for its executive officers, and implemented headcount and other cost reductions in an attempt to better align expenses with reduced sales since the middle of March 2020 and early April 2020 resulting from the impact of COVID-19 on its business. Description of the Business Camping World Holdings, Inc, together with its subsidiaries, is America’s largest retailer of recreational vehicles (“RVs”) and related products and services. As noted above, CWGS, LLC is a holding company and operates through its subsidiaries. The Company has the following two reportable segments: (i) Good Sam Services and Plans and (ii) RV and Outdoor Retail. See Note 18 – Segments Information to the Condensed Consolidated Financial Statements for further information about the Company’s segments. Within the Good Sam Services and Plans segment, the Company primarily derives revenue from the sale of the following offerings: emergency roadside assistance plans; property and casualty insurance programs; travel assist programs; extended vehicle service contracts; vehicle financing and refinancing assistance; consumer shows and events; and consumer publications and directories. Within the RV and Outdoor Retail segment, the Company primarily derives revenue from the sale of new and used recreational vehicles; commissions on the finance and insurance contracts related to the sale of RVs; the sale of RV services and maintenance work; the sale of RV parts, accessories, and supplies; the sale of outdoor products, equipment, gear and supplies and the sale of Good Sam Club memberships and co-branded credit cards. The Company operates a national network of RV dealerships and service centers as well as a comprehensive e-commerce platform primarily under the Camping World and Gander RV & Outdoors brands, and markets its products and services primarily to RV and outdoor enthusiasts. In 2019, the Company made a strategic decision to refocus its business around its core RV competencies, and on September 3, 2019, the board of directors approved a strategic plan to shift the business away from locations that did not have the ability or where it was not feasible to sell and/or service RVs (the “2019 Strategic Shift”) (see Note 4 – Restructuring and Long-lived Asset Impairment). This resulted in the sale, closing or divestiture of 34 non-RV retail stores and the liquidation of approximately $108 million of non-RV related inventory in 2019. In connection with the 2019 Strategic Shift, the Company has reduced its number of retail store locations to 168 as of March 31, 2020 from 226 as of March 31, 2019. A summary of the retail store openings, closings, divestitures, conversions and locations from March 31, 2019 to March 31, 2020, are in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RV ​ RV Service & ​ Other ​ ​ ​ ​ ​ Dealerships ​ Retail Centers ​ Retail Stores ​ Total Store locations as of March 31, 2019 ​ ​ 147 ​ ​ 12 ​ ​ 67 ​ ​ 226 Opened ​ ​ 10 ​ ​ — ​ ​ — ​ ​ 10 Closed / divested ​ ​ (6) ​ ​ (2) ​ ​ (56) ​ ​ (64) Temporarily closed (1) ​ ​ — ​ ​ — ​ ​ (4) ​ ​ (4) Converted ​ ​ 6 ​ ​ — ​ ​ (6) ​ ​ — Store locations as of March 31, 2020 ​ ​ 157 ​ ​ 10 ​ ​ 1 ​ ​ 168 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) These locations are temporarily closed in response to the COVID-19 pandemic. ​ 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, including those uncertainties arising from COVID-19, 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, long-lived asset impairments, program cancellation reserves, chargebacks, and accruals related to estimated tax liabilities, product return reserves, and other liabilities. Contracts in Transit, Accounts Receivable and Current Expected Credit Losses Contracts in transit consist of amounts due from non-affiliated financing institutions on retail finance contracts from vehicle sales for the portion of the vehicle sales price financed by the Company’s customers. These retail installment sales contracts are typically funded within ten days of the initial approval of the retail installment sales contract by the third-party lender. Accounts receivable are stated at realizable value, net of an allowance for doubtful accounts, which includes a reserve for expected credit losses. Accounts receivable balances due in excess of one year was $8.6 million at each of March 31, 2020 and December 31, 2019 and included in other assets in the Condensed Consolidated Balance Sheets. The allowance for doubtful accounts is based on management’s assessment of the collectability of its customer accounts. The Company regularly reviews the composition of the accounts receivable aging, historical bad debts, changes in payment patterns, customer creditworthiness, current economic trends, and reasonable and supportable forecasts about the future. Relevant risks characteristics include customer size and historical loss patterns. Management has evaluated the expected credit losses related to contracts in transit and determined that no allowance for doubtful accounts was required at either March 31, 2020 or December 31, 2019. Management additionally has evaluated the expected credit losses related to accounts receivable and determined that allowances of approximately $3.5 million for uncollectible accounts were required as of both March 31, 2020 and December 31, 2019. The following table details the changes in the allowance for doubtful accounts (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ March 31, ​ 2020 2019 Allowance for doubtful accounts: ​ ​ ​ ​ ​ ​ Balance, beginning of period ​ $ 3,537 ​ $ 4,398 Charged to bad debt expense ​ ​ 483 ​ ​ 186 Deductions (1) ​ ​ (569) ​ ​ 29 Balance, end of period ​ $ 3,451 ​ $ 4,613 ​ (1) These amounts primarily relate to the write off of uncollectable accounts after collection efforts have been exhausted. ​ Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”). This standard requires the use of a forward-looking expected loss impairment model for trade and other receivables, held-to-maturity debt securities, loans and other instruments. This standard also requires impairments and recoveries for available-for-sale debt securities to be recorded through an allowance account and revises certain disclosure requirements. In April 2019, the FASB issued ASU 2019-04, Codification Improvements, which provides guidance on accounting for credit losses on accrued interest receivable balances and guidance on including recoveries when estimating the allowance. In May 2019, the FASB issued ASU 2019-05, Targeted Transition Relief, which allows entities with an option to elect fair value for certain instruments upon adoption of Topic 326. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted ASU 2016-13 on January 1, 2020 and the adoption did not materially impact its condensed 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, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted ASU 2018-15 on January 1, 2020 using the prospective transition approach and the adoption did not materially impact its condensed consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) (“ASU 2020-04”). This standard, effective for reporting periods through December 31, 2022, provides accounting relief for contract modifications that replace an interest rate impacted by reference rate reform (e.g., London Interbank Offered Rate (“LIBOR”)) with a new alternative reference rate. The guidance is applicable to investment securities, receivables, loans, debt, leases, derivatives and hedge accounting elections and other contractual arrangements. The Company adopted ASU 2020-04 as of January 1, 2020 and the adoption did not materially impact its condensed consolidated financial statements. Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). This standard reduces complexity by removing specific exceptions to general principles related to intraperiod tax allocations, ownership changes in foreign investments, and interim period income tax accounting for year-to-date losses that exceed anticipated losses. This standard also simplifies accounting for franchise taxes that are partially based on income, transactions with a government that result in a step up in the tax basis of goodwill, separate financial statements of legal entities that are not subject to tax, and enacted changes in tax laws in interim periods. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The ASU permits either a retrospective basis or a modified retrospective transition approach. The Company is currently evaluating the impact that the adoption of the provisions of this ASU will have on its consolidated financial statements.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2020
Revenue
Revenue	2. Revenue Contract Assets As of March 31, 2020 and December 31, 2019, a contract asset of $5.0 million and $6.1 million, respectively, relating to RV service revenues was included in accounts receivable in the accompanying unaudited condensed consolidated balance sheet. Deferred Revenues As of March 31, 2020, the Company has unsatisfied performance obligations relating to multi-year plans for its Good Sam Club, roadside assistance, Coast to Coast memberships, and magazine publication revenue streams. The total unsatisfied performance obligation for these revenue streams at March 31, 2020 for the periods during which the Company expects to recognize the amounts as revenue are presented as follows (in thousands): ​ ​ ​ ​ ​ As of ​ March 31, 2020 2020 $ 69,977 2021 ​ ​ 34,535 2022 ​ ​ 16,788 2023 ​ ​ 8,467 2024 ​ ​ 4,667 Thereafter ​ ​ 5,668 Total ​ $ 140,102 ​ ​ ​ ​ ​

Inventories, net and Notes Paya

Inventories, net and Notes Payable - Floor Plan, net	3 Months Ended
	Mar. 31, 2020
Inventories, net and Notes Payable - Floor Plan, net
Inventories, net and Notes Payable - Floor Plan, net	3. Inventories and Floor Plan Payable Inventories consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Good Sam services and plans ​ $ 38 ​ $ 590 New RVs ​ ​ 1,053,802 ​ ​ 966,134 Used RVs ​ ​ 151,058 ​ ​ 165,927 Products, parts, accessories and other ​ ​ 234,555 ​ ​ 225,888 ​ ​ $ 1,439,453 ​ $ 1,358,539 ​ New RV inventory, included in the RV and Outdoor Retail segment, is 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 RV dealerships, and bear interest at one-month LIBOR plus 2.15% as of March 31, 2020 and December 31, 2019. LIBOR was 1.58% at March 31, 2020 and 1.71% as of December 31, 2019. Borrowings are tied to specific vehicles and principal is due upon the sale of the related vehicle or upon reaching certain aging criteria. As of March 31, 2020 and December 31, 2019, FR maintained floor plan financing through the Seventh Amended and Restated Credit Agreement (“Floor Plan Facility”). On October 8, 2019, FR entered into a Second Amendment to the Seventh Amended and Restated Credit Agreement (the “Amendment”). The applicable borrowing rate margin on LIBOR and base rate loans ranges from 2.05% to 2.50% and 0.55% and 1.00%, respectively, based on the consolidated current ratio at FR. The Floor Plan Facility at March 31, 2020 allowed FR to borrow (a) up to $1.38 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 $57.0 million under the revolving line of credit, which maximum amount outstanding further decreases by $3.0 million on the last day of each fiscal quarter. The maturity date of the Floor Plan Facility is March 15, 2023. The Floor Plan Facility includes a flooring line aggregate interest reduction (“Flair”) 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 Flair offset account into the Company’s operating cash accounts. As a result of using the Flair offset account, the Company experiences a reduction in floor plan interest expense in its consolidated statements of operations. Management has determined that the credit agreement governing the Floor Plan Facility includes subjective acceleration clauses which could impact debt classification. Management has determined that no events have occurred at March 31, 2020 that would trigger a subjective acceleration clause. Additionally, the credit agreement governing the Floor Plan Facility contains certain financial covenants. FR was in compliance with all debt covenants at March 31, 2020 and December 31, 2019. The following table details the outstanding amounts and available borrowings under the Floor Plan Facility as of March 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Floor Plan Facility ​ ​ ​ ​ ​ ​ Notes payable - floor plan: ​ ​ ​ ​ ​ ​ Total commitment ​ $ 1,379,750 ​ $ 1,379,750 Less: borrowings, net ​ ​ (846,424) ​ ​ (848,027) Less: flooring line aggregate interest reduction account ​ ​ (173,853) ​ ​ (87,016) Additional borrowing capacity ​ ​ 359,473 ​ ​ 444,707 Less: accounts payable for sold inventory ​ ​ (32,934) ​ ​ (27,892) Less: purchase commitments ​ ​ (10,133) ​ ​ (8,006) Unencumbered borrowing capacity ​ $ 316,406 ​ $ 408,809 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Revolving line of credit: ​ $ 57,000 ​ $ 60,000 Less borrowings ​ ​ (40,885) ​ ​ (40,885) Additional borrowing capacity ​ $ 16,115 ​ $ 19,115 ​ ​ ​ ​ ​ ​ ​ Letters of credit: ​ ​ ​ ​ ​ ​ Total commitment ​ $ 15,000 ​ $ 15,000 Less: outstanding letters of credit ​ ​ (11,175) ​ ​ (11,175) Additional letters of credit capacity ​ $ 3,825 ​ $ 3,825 ​ ​ ​ ​ ​ ​ ​ ​

Restructuring and Long-lived As

Restructuring and Long-lived Asset Impairment	3 Months Ended
	Mar. 31, 2020
Restructuring and Long-lived Asset Impairment
Restructuring and Long-lived Asset Impairment	4 . Restructuring and Long-lived Asset Impairment Restructuring On September 3, 2019, the board of directors of CWH approved a plan to strategically shift its business away from locations where the Company does not have the ability or where it is not feasible to sell and/or service RVs at a sufficient capacity (the “Outdoor Lifestyle Locations”). Of the Outdoor Lifestyle Locations in the RV and Outdoor Retail segment operating at September 3, 2019, the Company closed or divested 36 Outdoor Lifestyle Locations, three distribution centers, and 19 specialty retail locations through March 31, 2020. Three Outdoor Lifestyle Locations were closed in April 2020 and the Company expects that the remaining limited number of store closures and/or divestitures will be completed by December 31, 2020. As part of the 2019 Strategic Shift, the Company evaluated the impact on its supporting infrastructure and operations, which included rationalizing inventory levels and composition, closing three of its distribution centers, and realigning other resources. The Company had a reduction of headcount and labor costs for those locations that were closed or divested and the Company incurred material charges associated with the activities contemplated under the 2019 Strategic Shift. In connection with the 2019 Strategic Shift, the Company expects to incur, in the aggregate, costs relating to: ● one-time employee termination benefits of $1.2 million to $1.5 million, of which $1.2 million has been incurred through March 31, 2020; ● lease termination costs of $15.0 million to $20.0 million, of which $5.5 million has been incurred through March 31, 2020; ● incremental inventory reserve charges of $42.4 million, of which $42.4 million has been incurred through March 31, 2020; and ● other associated costs of $20.0 million to $25.0 million, of which $9.9 million has been incurred through March 31, 2020. Through March 31, 2020, the Company has incurred $9.9 million of such other associated costs primarily representing labor, lease, and other operating expenses incurred during the post-close wind-down period for the locations related to the 2019 Strategic Shift. The additional amount of $10.1 million to $15.1 million represents similar costs that may be incurred during the last nine months of 2020 for locations that continue in a wind-down period, primarily comprised of lease costs accounted for under ASC 842 prior to lease termination. The Company intends to negotiate terminations of these leases where prudent and pursue sublease arrangements for the remaining leases. Lease costs may continue to be incurred after December 31, 2020 on these leases if the Company is unable to terminate the leases under acceptable terms or offset the lease costs through sublease arrangements. The foregoing lease termination cost estimate represents the expected cash payments to terminate certain leases, but does not include the gain or loss from derecognition of the related operating lease assets and liabilities, which is dependent on the particular leases that will be terminated. The following table details the costs incurred during the three months ended March 31, 2020 associated with the 2019 Strategic Shift (in thousands): ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, 2020 Restructuring costs: ​ ​ ​ One-time termination benefits (1) ​ $ 180 Lease termination costs (2) ​ ​ 589 Incremental inventory reserve charges (3) ​ ​ 486 Other associated costs (4) ​ ​ 5,616 Total restructuring costs ​ $ 6,871 ​ (1) These costs were primarily in costs applicable to revenues – products, service and other, in the condensed consolidated statements of operations. (2) These costs were included in lease termination charges in the condensed consolidated statements of operations. This reflects termination fees paid, net of any gain from derecognition of the related operating lease assets and liabilities. (3) These costs were included in costs applicable to revenue – products, service and other in the condensed consolidated statements of operations. (4) Other associated costs primarily represent labor, lease, and other operating expenses incurred during the post-close wind-down period for the locations related to the 2019 Strategic Shift. For the three months ended March 31, 2020, costs of approximately $0.3 million were included in costs applicable to revenue – products, service and other, and $5.3 million were included in selling, general, and administrative expenses in the condensed consolidated statements of operations. The following table details changes in the restructuring accrual associated with the 2019 Strategic Shift (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-time Lease Other ​ ​ Termination Termination Associated ​ ​ Benefits Costs (1) Costs Total Balance at June 30, 2019 ​ $ — ​ $ — ​ $ — ​ $ — Charged to expense ​ ​ 1,008 ​ ​ 1,350 ​ ​ 4,321 ​ ​ 6,679 Paid or otherwise settled ​ ​ (286) ​ ​ (1,350) ​ ​ (4,036) ​ ​ (5,672) Balance at December 31, 2019 ​ ​ 722 ​ ​ — ​ ​ 285 ​ ​ 1,007 Charged to expense ​ ​ 180 ​ ​ 4,170 ​ ​ 5,616 ​ ​ 9,966 Paid or otherwise settled ​ ​ (617) ​ ​ (4,170) ​ ​ (4,819) ​ ​ (9,606) Balance at March 31, 2020 ​ $ 285 ​ $ — ​ $ 1,082 ​ $ 1,367 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Lease termination costs exclude the $1.3 million and the $3.6 million of gains from the derecognition of the operating lease assets and liabilities relating to the terminated leases as part of the 2019 Strategic Shift for the six months ended December 31, 2019 and for the three months ended March 31, 2020, respectively. The Company evaluated the requirements of ASC No. 205-20, Presentation of Financial Statements – Discontinued Operations relative to the 2019 Strategic Shift and determined that discontinued operations treatment is not applicable. Accordingly, the results of operations of the locations impacted by the 2019 Strategic Shift are reported as part of continuing operations in the accompanying unaudited condensed consolidated financial statements. Long-lived Asset Impairment During the three months ended March 31, 2020, the Company had indicators of impairment of the long-lived assets for certain of its locations. For locations that failed the recoverability test based on an analysis of undiscounted cash flows, the Company estimated the fair value of the locations based on a discounted cash flow analysis. After performing the long-lived asset impairment test for these locations, the Company determined that ten locations within the RV and Outdoor Retail segment had long-lived assets that were impaired. The long-lived asset impairment charge, subject to limitations described below, was calculated as the amount that the carrying value of the locations exceeded the estimated fair value. The calculated long-lived asset impairment charge was allocated to each of the categories of long-lived assets at each location pro rata based on the long-lived assets’ carrying values, except that individual assets cannot be impaired below their individual fair values when that fair value can be determined without undue cost and effort. For most of these locations, the operating lease right-of-use assets and furniture and equipment were written down to their individual fair values and the remaining impairment charge was allocated to the remaining long-lived assets up to the fair value estimated on these assets based on liquidation value estimates. During the three months ended March 31, 2020, the Company recorded long-lived asset impairment charges relating to leasehold improvements, furniture and equipment, and operating lease right-of-use assets of $2.4 million, $2.6 million, and $1.6 million, respectively. Of the $6.6 million long-lived asset impairment charge during the three months ended March 31, 2020, $6.5 million related to the 2019 Strategic Shift discussed above.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2020
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 segment for the three months ended March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Good Sam ​ ​ ​ ​ ​ ​ ​ Services and ​ RV and ​ ​ ​ ​ Plans Outdoor Retail Consolidated Balance as of December 31, 2019 (excluding impairment charges) ​ $ 70,713 ​ $ 558,065 ​ $ 628,778 Accumulated impairment charges ​ ​ (46,884) ​ ​ (194,953) ​ ​ (241,837) Balance as of December 31, 2019 ​ ​ 23,829 ​ ​ 363,112 ​ ​ 386,941 Acquisitions (1) ​ ​ — ​ ​ 4 ​ ​ 4 Balance as of March 31, 2020 ​ $ 23,829 ​ $ 363,116 ​ $ 386,945 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Represents measurement period adjustments relating to prior period acquisitions (see Note 11 — Acquisitions). ​ The Company evaluates goodwill for impairment on an annual basis as of the beginning of 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 first step of a two-step 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. During the three months ended March 31, 2020, the Company determined that a triggering event for an interim goodwill impairment test of its RV and Outdoor Retail reporting unit had occurred as a result of the decline in the market price of the Company’s Class A common stock and the potential impact of COVID-19 on the Company’s business. As a result of the interim goodwill impairment test, the Company determined that the fair value of the RV and Outdoor Retail reporting unit was substantially above its respective carrying amount, therefore, no Intangible Assets Finite-lived intangible assets and related accumulated amortization consisted of the following at March 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ ​ Cost or ​ Accumulated ​ ​ ​ ​ Fair Value Amortization Net Good Sam Services and Plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ Membership and customer lists ​ $ 9,140 ​ $ (8,153) ​ $ 987 RV and Outdoor Retail: ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer lists and domain names ​ ​ 2,065 ​ ​ (1,792) ​ ​ 273 Trademarks and trade names ​ ​ 28,955 ​ ​ (5,343) ​ ​ 23,612 Websites ​ ​ 5,990 ​ ​ (2,038) ​ ​ 3,952 ​ ​ $ 46,150 ​ $ (17,326) ​ $ 28,824 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ Cost or ​ Accumulated ​ ​ ​ ​ Fair Value Amortization Net Good Sam Services and Plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ Membership and customer lists ​ $ 9,140 ​ $ (7,972) ​ $ 1,168 RV and Outdoor Retail: ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer lists and domain names ​ ​ 2,065 ​ ​ (1,768) ​ ​ 297 Trademarks and trade names ​ ​ 28,955 ​ ​ (4,862) ​ ​ 24,093 Websites ​ ​ 5,990 ​ ​ (1,841) ​ ​ 4,149 ​ ​ $ 46,150 ​ $ (16,443) ​ $ 29,707 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2020
Long-Term Debt
Long-Term Debt	6. Long-Term Debt Outstanding long-term debt consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Term Loan Facility (1) ​ $ 1,146,062 ​ $ 1,148,115 Real Estate Facility (2) ​ ​ 18,997 ​ ​ 19,521 Subtotal ​ ​ 1,165,059 ​ ​ 1,167,636 Less: current portion ​ ​ (13,962) ​ ​ (14,085) Total ​ $ 1,151,097 ​ $ 1,153,551 ​ ​ ​ ​ ​ ​ ​ (1) Net of $4.1 million and $4.3 million of original issue discount at March 31, 2020 and December 31, 2019, respectively, and $10.0 million and $10.7 million of finance costs at March 31, 2020 and December 31, 2019, respectively. (2) Net of $0.2 million and $0.2 million of finance costs at March 31, 2020 and December 31, 2019, respectively. Senior Secured Credit Facilities As of March 31, 2020 and December 31, 2019, CWGS Group, LLC (the “Borrower”), a wholly owned subsidiary of CWGS, LLC, was party to a credit agreement (as amended from time to time, the “Credit Agreement”) for a senior secured credit facility (the “Senior Secured Credit Facilities”). The Senior Secured Credit Facilities consist of a $1.19 billion term loan facility (the “Term Loan Facility”) and a $35.0 million revolving credit facility (the “Revolving Credit Facility”). 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. The Revolving Credit Facility matures on November 8, 2021, and the Term Loan Facility matures on November 8, 2023. The Term Loan Facility requires mandatory principal payments in equal quarterly installments of $3.0 million. Additionally, 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 depending on the Total Leverage Ratio. As of March 31, 2020, the average interest rate on the Term Loan Facility was 3.90%. The following table details the outstanding amounts and available borrowings under the Senior Secured Credit Facilities as of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Senior Secured Credit Facilities: ​ ​ ​ ​ ​ ​ Term Loan Facility: ​ ​ ​ ​ ​ ​ Principal amount of borrowings ​ $ 1,195,000 ​ $ 1,195,000 Less: cumulative principal payments ​ ​ (34,895) ​ ​ (31,898) Less: unamortized original issue discount ​ ​ (4,057) ​ ​ (4,320) Less: finance costs ​ ​ (9,986) ​ ​ (10,667) ​ ​ ​ 1,146,062 ​ ​ 1,148,115 Less: current portion ​ ​ (11,991) ​ ​ (11,991) Long-term debt, net of current portion ​ $ 1,134,071 ​ $ 1,136,124 Revolving Credit Facility: ​ ​ ​ ​ ​ ​ Total commitment ​ $ 35,000 ​ $ 35,000 Less: outstanding letters of credit ​ ​ (3,622) ​ ​ (4,112) Less: availability reduction due to Total Leverage Ratio ​ ​ (21,965) ​ ​ (21,622) Additional borrowing capacity ​ $ 9,413 ​ $ 9,266 ​ 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 pertaining to, 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. Additionally, management has determined that the Senior Secured Credit Facilities include subjective acceleration clauses which could impact debt classification. Management has determined that no events have occurred at March 31, 2020 that would trigger a subjective acceleration clause. 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 in effect only if, as of the end of each calendar quarter, 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 (minus the lesser of (a) $5.0 million and (b) letters of credit outstanding), as defined in the Credit Agreement. As of March 31, 2020, the Company was not subject to this covenant as borrowings under the Revolving Credit Facility did not exceed the 30% threshold. At March 31, 2020, the Company would not have met this covenant if the Company had exceeded the 30% threshold. As such, the Company’s borrowing capacity under the Revolving Credit Facility at March 31, 2020 was limited to $9.4 million of additional borrowings. The Company was in compliance with all applicable debt covenants at March 31, 2020 and December 31, 2019. Real Estate Facility As of March 31, 2020 and December 31, 2019, Camping World Property, Inc. (the ‘‘Real Estate Borrower’’), an indirect wholly-owned subsidiary of CWGS, LLC, and CIBC Bank USA (“Lender”), were party to a loan and security agreement for a real estate credit facility with an aggregate maximum principal capacity of $21.5 million (“Real Estate Facility”). Borrowings under the Real Estate Facility are guaranteed by CWGS Group, LLC, a wholly-owned subsidiary of CWGS, LLC. The Real Estate Facility may be used to finance the acquisition of real estate assets. The Real Estate Facility is 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. As of March 31, 2020, a principal balance of $19.2 million was outstanding under the Real Estate Facility, and the average interest rate was 4.65% with a commitment fee of 0.50% of the aggregate unused principal amount of the Real Estate Facility. As of March 31, 2020, the Company had no Management has determined that the credit agreement governing the Real Estate Facility includes subjective acceleration clauses which could impact debt classification. Management has determined that no events have occurred at March 31, 2020 that would trigger a subjective acceleration clause. Additionally, the Real Estate Facility is subject to certain cross default provisions, a debt service coverage ratio, and other customary covenants. The Company was in compliance with all debt covenants at March 31, 2020 and December 31, 2019.

Lease Obligations

Lease Obligations	3 Months Ended
	Mar. 31, 2020
Lease Obligations
Lease Obligations	7. Lease Obligations The following presents certain information related to the costs for operating leases ($ in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Operating lease cost ​ $ 31,000 ​ $ 30,202 Short-term lease cost ​ ​ 489 ​ ​ 713 Variable lease cost ​ ​ 5,028 ​ ​ 552 Sublease income ​ ​ (412) ​ ​ (305) Net lease costs ​ $ 36,105 ​ $ 31,162 ​ The following presents supplemental cash flow information related to leases ($ in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Cash paid for amounts included in the measurement of lease liability: ​ ​ ​ ​ ​ ​ Operating cash flows for leases ​ $ 30,737 ​ $ 30,044 ​ ​ ​ ​ ​ ​ ​ Operating lease assets obtained in exchange for lease liabilities: ​ ​ ​ ​ ​ ​ New, remeasured, and terminated leases ​ $ 18,804 ​ $ 23,403 ​

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
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. 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 2020 and 2019 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) and the fair values shown below for the Floor Plan Facility Revolving Line of Credit and the Real Estate Facility are estimated by discounting the future contractual cash flows at the current market interest rate that is available based on similar financial instruments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ March 31, 2020 ​ December 31, 2019 ($ in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Term Loan Facility ​ Level 2 ​ $ 1,146,062 ​ $ 783,071 ​ $ 1,148,115 ​ $ 1,104,947 Floor Plan Facility Revolving Line of Credit ​ Level 2 ​ ​ 40,885 ​ ​ 40,021 ​ ​ 40,885 ​ ​ 41,299 Real Estate Facility ​ Level 2 ​ ​ 18,997 ​ ​ 18,347 ​ ​ 19,521 ​ ​ 21,030 ​

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies.
Commitments and Contingencies	9. Commitments and Contingencies Litigation 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. Strougo v. Camping World Holdings, Inc. et al. The Ronge and Strougo Complaints were consolidated and lead plaintiffs (the “ Ronge Ronge Ronge Ronge However, there can be no assurance that the proposed settlement will be approved by the Court. The parties have informed the court of the status of their negotiations, and on January 24, 2020, the court struck the pending motions to dismiss without prejudice. Any losses that the Company believes are probable are expected to be covered directly by the Company’s applicable insurance policies. The Company is not currently able to estimate a range of reasonably possible loss in excess of any amount that would be paid directly by the Company’s insurance carriers. Moreover, no assurance can be made that this matter either individually or together with the potential for similar suits, will not result in a material financial exposure in excess of insurance coverage, which could have a material adverse effect upon the Company's financial condition and results of operations. On December 12, 2018, a putative class action complaint styled International Union of Operating Engineers Benefit Funds of Eastern Pennsylvania and Delaware v. Camping World Holdings Inc., et al. October 2017 (“IUOE Complaint”). The IUOE Complaint names as defendants the Company, and certain of its officers and directors, among others, and alleges violations of Sections 11, 12(a), and 15 of the Securities Act of 1933 based on allegedly materially misleading statements or omissions of material facts necessary to make certain statements not misleading and seeks compensatory damages, including prejudgment and post-judgement interest, attorneys’ fees and costs, and any equitable or injunctive relief the court deems just and proper, including rescission. On February 28, 2019, the Company, along with the other defendants, moved to dismiss this action. The parties argued the merits of defendants’ motion to dismiss before the Supreme Court of the State of New York, Commercial Division, on September 6, 2019. The Court granted in part and denied in part the motion to dismiss on April 22, 2020. 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. On February 22, 2019, a putative class action complaint styled Daniel Geis v. Camping World Holdings, Inc., et al. On March 5, 2019, a shareholder derivative suit styled Hunnewell v. Camping World Holdings, Inc., et al. On April 17, 2019, a shareholder derivative suit styled Lincolnshire Police Pension Fund v. Camping World Holdings, Inc., et al. On August 6, 2019, two shareholder derivative suits, styled Janssen v. Camping World Holdings, Inc., et al., Sandler v. Camping World Holdings, Inc. et al., information and allegedly included materially false and misleading financial statements; (ii) violations of Section 10(b) and 20(a) of the Securities Exchange Act of 1934, seeking contribution for causing the Company to issue allegedly false and misleading statements and/or allegedly omit material information in public statements and/or Company filings concerning the Company’s financial performance, the effectiveness of internal controls to ensure accurate financial reporting, and the success and profitability of the integration and rollout of Gander Outdoors (now Gander RV) stores; (iii) breaches of fiduciary duty, unjust enrichment, abuse of control, and gross mismanagement for allegedly causing or allowing the Company to disseminate to Camping World shareholders materially misleading and inaccurate information through the Company’s SEC filings; and (iv) breach of fiduciary duties for alleged insider selling and misappropriation of information (together, the “Janssen and Sandler Complaints”). The Janssen and Sandler Complaints seek restitutionary and/or compensatory damages, injunctive relief, disgorgement of all profits, benefits, and other compensation obtained by the certain of the Company’s officers and directors, attorneys’ fees and costs, and any other and further relief the court deems just and proper. We are only a nominal defendant in the Janssen and Sandler Complaints. On September 25, 2019, the Court granted the parties’ joint motion to consolidate the action and stay the action pending resolution of the motion to dismiss the Consolidated Complaint that is pending in the United States District Court for the Northern District of Illinois. From time to time, the Company is involved in other litigation arising in the normal course of business operations. ​

Statement of Cash Flows

Statement of Cash Flows	3 Months Ended
	Mar. 31, 2020
Statement of Cash Flows
Statements of Cash Flows	10 . Statement of Cash Flows Supplemental disclosures of cash flow information for the following periods (in thousands) were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ March 31, ​ 2020 2019 Cash paid during the period for: ​ ​ ​ ​ ​ ​ Interest ​ $ 22,955 ​ $ 26,977 Income taxes ​ ​ 53 ​ ​ 119 Non-cash investing activities: ​ ​ ​ ​ ​ ​ Leasehold improvements paid by lessor ​ ​ 24 ​ ​ 1,540 Vehicles transferred to property and equipment from inventory ​ ​ 119 ​ ​ 402 Capital expenditures in accounts payable and accrued liabilities ​ ​ 3,325 ​ ​ 6,634 Non-cash financing activities: ​ ​ ​ ​ ​ ​ Par value of Class A common stock issued for vested restricted stock units ​ ​ — ​ ​ — Par value of Class A common stock repurchased for withholding taxes on vested RSUs ​ ​ — ​ ​ — ​

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2020
Acquisitions
Acquisitions	11. Acquisitions During the three months ended March 31, 2019, subsidiaries of the Company acquired the assets of two RV dealerships that constituted businesses under accounting rules. The Company used a combination of cash and floor plan financing to complete the acquisitions. The Company considers acquisitions of independent dealerships to be a fast and capital efficient alternative to opening new RV and Outdoor Retail locations to expand its business and grow its customer base. 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. During the three months ended March 31, 2019, the RV and Outdoor Retail segment acquired the assets of an RV dealership group comprised of two locations for an aggregate purchase price of approximately $21.2 million. The purchases were partially funded through $8.4 million of borrowings under the Floor Plan Facility. For the three months ended March 31, 2019, the Company purchased real property of $0.7 million from parties related to the sellers of the businesses. The estimated fair values of the assets acquired and liabilities assumed for the acquisitions of dealerships, retail and consumer shows consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ($ in thousands) 2020 2019 Tangible assets (liabilities) acquired (assumed): ​ ​ ​ ​ ​ ​ Inventories, net ​ $ (4) ​ $ 9,096 Prepaid expenses and other assets ​ ​ — ​ ​ 87 Property and equipment, net ​ ​ — ​ ​ 105 Accrued liabilities ​ ​ — ​ ​ (100) Total tangible net assets acquired ​ ​ (4) ​ ​ 9,188 Goodwill ​ ​ 4 ​ ​ 11,981 Purchase price ​ ​ — ​ ​ 21,169 Cash and cash equivalents acquired ​ ​ — ​ ​ — Cash paid for acquisitions, net of cash acquired ​ ​ — ​ ​ 21,169 Inventory purchases financed via floor plan ​ ​ — ​ ​ (8,416) Cash payment net of floor plan financing ​ $ — ​ $ 12,753 ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended March 31, 2020, the fair values above represent measurement period adjustments for valuation of acquired inventories relating to dealership acquisitions during the year ended December 31, 2019. 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 three months ended March 31, 2020 and 2019, acquired goodwill of $0 million and $12.0 million, respectively, is expected to be deductible for tax purposes. Included in the three months ended March 31, 2019 consolidated financial results were $4.8 million of revenue and $0.3 million of pre-tax loss of the acquired dealerships 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	3 Months Ended
	Mar. 31, 2020
Income Taxes
Income Taxes	12. Income Taxes CWH is organized as a Subchapter C corporation and, as of March 31, 2020, is a 42.1% 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, Inc. (“CW”), and FreedomRoads RV, Inc. and their wholly-owned subsidiaries, which are Subchapter C corporations. On January 1, 2019, the Company transferred certain assets relating to its Good Sam Club and co-branded credit card from its indirect wholly-owned subsidiary, GSS Enterprises LLC (“GSS”), to its indirect wholly-owned subsidiary, CW, a corporation. As a result of this transfer, the Company recorded an estimated $16.3 million of net income tax expense during the three months ended March 31, 2019 due to the revaluation of certain deferred tax assets and related changes in valuation allowance. As a result of transferring certain assets relating to its Good Sam Club and co-branded credit card from GSS to CW, as described above, the Company also re-evaluated the impact on its Tax Receivable Agreement liability related to the reduction of future expected tax amortization. The reduction in future expected tax amortization reduced the Tax Receivable Agreement liability by an estimated $7.2 million. Unrelated to the transfer described above, the Tax Receivable Agreement liability was reduced by an additional $1.1 million during the three months ended March 31, 2019 for changes in estimated state income tax rates applicable to CWH. As a result of these adjustments to the Tax Receivable Agreement liability, the Company recorded an estimated $8.5 million of other income in the Condensed Consolidated Statement of Operations for the three months ended March 31, 2019 As further described in Note 1 — Summary of Significant Accounting Policies — COVID-19, in response to the COVID-19 pandemic, many governments have enacted or are contemplating measures to provide aid and economic stimulus. These measures may include deferring the due dates of tax payments or other changes to their income and non-income-based tax laws. The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was enacted on March 27, 2020 in the U.S., includes measures to assist companies, including temporary changes to income and non-income-based tax laws. For the three months ended March 31, 2020, there were no material tax impacts to the Company’s condensed consolidated financial statements as it relates to COVID-19 measures. The Company will continue to monitor additional guidance issued by the U.S. Treasury Department, the Internal Revenue Service and others. For the three months ended March 31, 2020, the Company’s effective income tax rate was (41.3)% as a result of incurring income tax expense on a loss before income taxes. For the three months ended March 31, 2020, income tax expense decreased $18.8 million to $4.1 million from $22.9 million for the three months ended March 31, 2019 primarily as a result of lower income incurred at CWGS, LLC for which the Company is subject to U.S. federal and state taxes on its allocable share, partially offset by operating losses recorded by CW for which no tax benefit can be recognized and absent the transfer of certain assets between subsidiaries in the prior year which had resulted in $16.3 million of net income tax expense as described above. The Company's effective income tax rate for the three months ended March 31, 2020 was (41.3)%, which differed from 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 and losses at certain subsidiaries for which an income tax benefit was not recorded, since there was a full valuation allowance against the related deferred tax assets of those subsidiaries. For the three months ended March 31, 2019, the Company’s effective income tax rate was (588.4)%, primarily as a result of the $16.3 million deferred income tax expense on the transfer of certain assets between subsidiaries described above and 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 and losses at certain subsidiaries for which an income tax benefit was not recorded, since there was a full valuation allowance against the related deferred tax assets of those subsidiaries. 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 March 31, 2020 and December 31, 2019, the Company determined that all of its deferred tax assets (except those of CW and the Outside Basis Deferred Tax Asset discussed below) are more likely than not to be realized. The Company maintains a full valuation allowance against the deferred tax assets of CW, since it was determined that it is more likely than not, based on available objective evidence, that CW 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 maintains a partial valuation allowance against the Outside Basis Deferred Tax Asset pertaining to the portion that is not amortizable for tax purposes, since the Company would likely only realize the non-amortizable portion of the Outside Basis Deferred Tax Asset if the investment in CWGS, LLC was divested. The Company is party to 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. During the three months ended March 31, 2020 and 2019, 20,000 and 5,725 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 March 31, 2020 and December 31, 2019, the amount of Tax Receivable Agreement payments due under the Tax Receivable Agreement was $114.8 million of which $6.6 million was included in the current portion of the Tax Receivable Agreement liability in the Condensed Consolidated Balance Sheets.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2020
Related Party Transactions
Related Party Transactions	13. Related Party Transactions Transactions with Directors, Equity Holders and Executive Officers FreedomRoads leases various RV and Outdoor Retail locations from managers and officers. During the three months ended March 31, 2020 and 2019, the related party lease expense for these locations was $0.5 million and $0.5 million, respectively. In January 2012, FreedomRoads entered into a lease (the “Original Lease”) for the offices in Lincolnshire, Illinois, which was amended as of March 2013 (the “First Amendment”). The Original Lease base rent of $29,000 per month was increased to $31,500 per month in March 2013 by virtue of the First Amendment and is subject to annual increases. As of November 1, 2019, by way of the Second Amendment to the Office Lease, (together with the Original Lease and the First Amendment, collectively, the “Office Lease”), the Company began leasing additional space for an additional monthly base rent of $5,200. The Company’s Chairman and Chief Executive Officer has personally guaranteed the Office Lease. 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. Mr. Lemonis has a 67% economic interest in Precise Graphix and the Company paid Precise Graphix $0.1 million and $0.2 million for the three months ended March 31, 2020 and 2019, 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 and $0.2 million for the three months ended March 31, 2020 and 2019, respectively. ​

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Stockholders' Equity
Stockholders' Equity	14. Stockholders’ Equity CWH has 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. CWH is the sole managing member of CWGS, LLC and, although CWH has a minority economic interest in CWGS, LLC, CWH has the sole voting power in, and controls 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. In accordance with the amended and restated limited liability company agreement of CWGS, LLC (the “LLC Agreement”), the Continuing Equity Owners with common units in CWGS, LLC 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

Non-Controlling Interests

Non-Controlling Interests	3 Months Ended
	Mar. 31, 2020
Non-Controlling Interests
Non-Controlling Interests	15. Non-Controlling Interests As described in Note 14 — Stockholders’ Equity, CWH is 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 or increase the amount recorded as non-controlling interest and increase or decrease additional paid-in capital when CWGS, LLC has positive or negative net assets, respectively. At March 31, 2020 and December 31, 2019, CWGS, LLC had negative net assets, which resulted in negative non-controlling interest amounts on the Condensed Consolidated Balance Sheets. At the end of each period, the Company will record a non-controlling interest adjustment to additional paid-in capital such that the non-controlling interest on the Condensed Consolidated Balance Sheet is equal to the non-controlling interest’s ownership share of the underlying CWGS, LLC net assets (see the Condensed Consolidated Statement of Stockholders’ Equity (Deficit)). As of March 31, 2020 and December 31, 2019, there were 89,189,070 and 89,158,273 common units of CWGS, LLC outstanding, respectively, of which CWH owned 37,539,786 and 37,488,989 common units of CWGS, LLC, respectively, representing 42.1% and 42.0% ownership interests in CWGS, LLC, respectively, and the Continuing Equity Owners owned 51,649,284 and 51,669,284 common units of CWGS, LLC, respectively, representing 57.9% and 58.0% 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 ​ ​ March 31, ($ in thousands) 2020 2019 Net loss attributable to Camping World Holdings, Inc. ​ $ (8,160) ​ $ (19,395) Transfers to non-controlling interests: ​ ​ ​ ​ ​ ​ Increase in additional paid-in capital as a result of the vesting of restricted stock units ​ ​ 82 ​ ​ — Decrease in additional paid-in capital as a result of repurchases of Class A common stock for withholding taxes on vested RSUs ​ ​ (212) ​ ​ — Increase in additional paid-in capital as a result of the redemption of common units of CWGS, LLC ​ ​ 4 ​ ​ 12 Change from net loss attributable to Camping World Holdings, Inc. and transfers to non-controlling interests ​ $ (8,286) ​ $ (19,383) ​ ​ ​ ​ ​ ​ ​ ​

Equity-based Compensation Plans

Equity-based Compensation Plans	3 Months Ended
	Mar. 31, 2020
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 ​ ​ March 31, ​ March 31, ($ in thousands) 2020 2019 Equity-based compensation expense: ​ ​ ​ ​ ​ ​ Costs applicable to revenue ​ $ 156 ​ $ 207 Selling, general, and administrative ​ ​ 3,156 ​ ​ 2,509 Total equity-based compensation expense ​ $ 3,312 ​ $ 2,716 ​ The following table summarizes stock option activity for the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ Stock Options ​ (in thousands) Outstanding at December 31, 2019 ​ ​ 745 Forfeited ​ ​ (18) Outstanding at March 31, 2020 ​ ​ 727 Options exercisable at March 31, 2020 ​ ​ 537 ​ The following table summarizes restricted stock unit activity for the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ Restricted ​ ​ Stock Units ​ (in thousands) Outstanding at December 31, 2019 ​ ​ 1,806 Vested ​ ​ (47) Forfeited ​ ​ (109) Outstanding at March 31, 2020 ​ ​ 1,650 ​

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2020
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 ​ ​ March 31, (In thousands except per share amounts) ​ 2020 2019 Numerator: ​ ​ ​ ​ ​ ​ Net loss ​ $ (14,129) ​ $ (26,807) Less: net loss attributable to non-controlling interests ​ ​ 5,969 ​ ​ 7,412 Net loss attributable to Camping World Holdings, Inc. — basic and diluted ​ $ (8,160) ​ $ (19,395) Denominator: ​ ​ ​ ​ ​ ​ Weighted-average shares of Class A common stock outstanding — basic and diluted ​ ​ 37,534 ​ ​ 37,195 ​ ​ ​ ​ ​ ​ ​ Loss per share of Class A common stock — basic ​ $ (0.22) ​ $ (0.52) Loss per share of Class A common stock — diluted ​ $ (0.22) ​ $ (0.52) ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ 738 ​ ​ 859 Restricted stock units ​ ​ 1,732 ​ ​ 1,444 Common units of CWGS, LLC that are convertible into Class A common stock ​ ​ 51,649 ​ ​ 51,673 ​ 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.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Information
Segments Information	18. Segments Information The Company has the following two reportable segments: (i) Good Sam Services and Plans, and (ii) RV and Outdoor Retail. Within the Good Sam Services and Plans segment, the Company primarily derives revenue from the sale of the following offerings: emergency roadside assistance plans; property and casualty insurance programs; travel assist programs; extended vehicle service contracts; vehicle financing and refinancing assistance; consumer shows and events; and consumer publications and directories. Within the RV and Outdoor Retail segment, the Company primarily derives revenue from the sale of new and used RVs; commissions on the finance and insurance contracts related to the sale of RVs; the sale of RV service and maintenance work; the sale of RV parts, accessories, and supplies; the sale of outdoor products, equipment, gear and supplies and the sale of Good Sam Club memberships and co-branded credit cards. 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. Segment revenue includes intersegment revenue. Segment income includes intersegment allocations for subsidiaries and shared resources. Reportable segment revenue; segment income; floor plan interest expense; depreciation and amortization; other interest expense, net; and total assets are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ Good Sam ​ RV and ​ ​ ​ ​ ​ ​ ​ Services ​ Outdoor ​ Intersegment ​ ​ ​ ($ in thousands) and Plans Retail Eliminations Total Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Good Sam services and plans ​ $ 48,692 ​ $ — ​ $ (1,484) ​ $ 47,208 New vehicles ​ ​ — ​ ​ 498,396 ​ ​ (1,079) ​ ​ 497,317 Used vehicles ​ ​ — ​ ​ 207,233 ​ ​ (568) ​ ​ 206,665 Products, service and other ​ ​ — ​ ​ 173,012 ​ ​ (389) ​ ​ 172,623 Finance and insurance, net ​ ​ — ​ ​ 94,448 ​ ​ (1,992) ​ ​ 92,456 Good Sam Club ​ ​ — ​ ​ 11,004 ​ ​ — ​ ​ 11,004 Total consolidated revenue ​ $ 48,692 ​ $ 984,093 ​ $ (5,512) ​ $ 1,027,273 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2019 ​ ​ Good Sam ​ RV and ​ ​ ​ ​ ​ ​ ​ Services ​ Outdoor ​ Intersegment ​ ​ ​ ($ in thousands) and Plans Retail Eliminations Total Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Good Sam services and plans ​ $ 48,298 ​ $ — ​ $ (1,332) ​ $ 46,966 New vehicles ​ ​ — ​ ​ 530,749 ​ ​ (1,172) ​ ​ 529,577 Used vehicles ​ ​ — ​ ​ 180,605 ​ ​ (597) ​ ​ 180,008 Products, service and other ​ ​ — ​ ​ 210,198 ​ ​ (5,322) ​ ​ 204,876 Finance and insurance, net ​ ​ — ​ ​ 94,280 ​ ​ (2,389) ​ ​ 91,891 Good Sam Club ​ ​ — ​ ​ 11,451 ​ ​ — ​ ​ 11,451 Total consolidated revenue ​ $ 48,298 ​ $ 1,027,283 ​ $ (10,812) ​ $ 1,064,769 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ March 31, ($ in thousands) 2020 2019 Segment income (loss): (1) ​ ​ ​ ​ ​ ​ Good Sam Services and Plans ​ $ 21,340 ​ $ 22,414 RV and Outdoor Retail ​ ​ 128 ​ ​ (375) Total segment income ​ ​ 21,468 ​ ​ 22,039 Corporate & other ​ ​ (2,729) ​ ​ (3,173) Depreciation and amortization ​ ​ (14,078) ​ ​ (13,594) Other interest expense, net ​ ​ (14,658) ​ ​ (17,643) Tax Receivable Agreement liability adjustment ​ ​ — ​ ​ 8,477 Segment loss before income taxes ​ $ (9,997) ​ $ (3,894) (1) Segment income (loss) is defined as income (loss) from operations before depreciation and amortization plus floor plan interest expense. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ March 31, ($ in thousands) 2020 2019 Depreciation and amortization: ​ ​ ​ ​ ​ ​ Good Sam Services and Plans ​ $ 756 ​ $ 852 RV and Outdoor Retail ​ ​ 13,322 ​ ​ 12,742 Total depreciation and amortization ​ $ 14,078 ​ $ 13,594 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ March 31, ($ in thousands) 2020 2019 Other interest expense, net: ​ ​ ​ ​ ​ ​ Good Sam Services and Plans ​ $ — ​ $ — RV and Outdoor Retail ​ ​ 1,892 ​ ​ 2,148 Subtotal ​ ​ 1,892 ​ ​ 2,148 Corporate & other ​ ​ 12,766 ​ ​ 15,495 Total other interest expense, net ​ ​ 14,658 ​ ​ 17,643 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ($ in thousands) 2020 2019 Assets: ​ ​ ​ ​ ​ ​ Good Sam Services and Plans ​ $ 102,087 ​ $ 138,360 RV and Outdoor Retail ​ ​ 3,113,225 ​ ​ 3,047,652 Subtotal ​ ​ 3,215,312 ​ ​ 3,186,012 Corporate & other ​ ​ 187,249 ​ ​ 190,228 Total assets ​ $ 3,402,561 ​ $ 3,376,240 ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Summary of Significant Accounting Policies
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The condensed consolidated financial statements include the accounts of Camping World Holdings, Inc. and its subsidiaries, 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 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 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 months ended March 31, 2020 are unaudited. The condensed consolidated balance sheet as of December 31, 2019 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, 2019 (the “Annual Report”) filed with the SEC on February 28, 2020. Operating results for 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 IPO and other related transactions in order to carry on the business of 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 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 (see Note 14 — Stockholders’ Equity). Despite its position as sole managing member of CWGS, LLC, CWH has a minority economic interest in CWGS, LLC. As of March 31, 2020 and December 31, 2019, CWH owned 42.1% and 42.0%, respectively, of CWGS, LLC. Accordingly, the Company consolidates the financial results of CWGS, LLC and reports a non-controlling interest in its condensed consolidated financial statements. The Company does not have any components of other comprehensive income recorded within its condensed consolidated financial statements, and, therefore, does not separately present a statement of comprehensive income in its condensed consolidated financial statements.
COVID-19	COVID-19 A novel strain of coronavirus was first identified in Wuhan, China in December 2019 and COVID-19 was subsequently declared a pandemic by the World Health Organization. To date, COVID-19 has surfaced in nearly all regions of the world and resulted in travel restrictions and business slowdowns or shutdowns in affected areas. As a result, COVID-19 has impacted the Company’s business, in particular its revenue, due to decreased retail and online traffic. The Company has implemented preparedness plans to keep its employees and customers healthy and safe, which include social distancing, providing employees with face coverings and/or other protective clothing as required, implementing additional cleaning and sanitization routines, and work-from-home directives for a significant portion of our workforce. The majority of the Company’s RV and Outdoor Retail locations have continued to operate as essential businesses and consequently have remained open to serve its customers through the pandemic, and the Company continues to operate its e-commerce business. The Company has temporarily reduced salaries and hours throughout the business, including for its executive officers, and implemented headcount and other cost reductions in an attempt to better align expenses with reduced sales since the middle of March 2020 and early April 2020 resulting from the impact of COVID-19 on its business.
Description of the Business	Description of the Business Camping World Holdings, Inc, together with its subsidiaries, is America’s largest retailer of recreational vehicles (“RVs”) and related products and services. As noted above, CWGS, LLC is a holding company and operates through its subsidiaries. The Company has the following two reportable segments: (i) Good Sam Services and Plans and (ii) RV and Outdoor Retail. See Note 18 – Segments Information to the Condensed Consolidated Financial Statements for further information about the Company’s segments. Within the Good Sam Services and Plans segment, the Company primarily derives revenue from the sale of the following offerings: emergency roadside assistance plans; property and casualty insurance programs; travel assist programs; extended vehicle service contracts; vehicle financing and refinancing assistance; consumer shows and events; and consumer publications and directories. Within the RV and Outdoor Retail segment, the Company primarily derives revenue from the sale of new and used recreational vehicles; commissions on the finance and insurance contracts related to the sale of RVs; the sale of RV services and maintenance work; the sale of RV parts, accessories, and supplies; the sale of outdoor products, equipment, gear and supplies and the sale of Good Sam Club memberships and co-branded credit cards. The Company operates a national network of RV dealerships and service centers as well as a comprehensive e-commerce platform primarily under the Camping World and Gander RV & Outdoors brands, and markets its products and services primarily to RV and outdoor enthusiasts. In 2019, the Company made a strategic decision to refocus its business around its core RV competencies, and on September 3, 2019, the board of directors approved a strategic plan to shift the business away from locations that did not have the ability or where it was not feasible to sell and/or service RVs (the “2019 Strategic Shift”) (see Note 4 – Restructuring and Long-lived Asset Impairment). This resulted in the sale, closing or divestiture of 34 non-RV retail stores and the liquidation of approximately $108 million of non-RV related inventory in 2019. In connection with the 2019 Strategic Shift, the Company has reduced its number of retail store locations to 168 as of March 31, 2020 from 226 as of March 31, 2019. A summary of the retail store openings, closings, divestitures, conversions and locations from March 31, 2019 to March 31, 2020, are in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RV ​ RV Service & ​ Other ​ ​ ​ ​ ​ Dealerships ​ Retail Centers ​ Retail Stores ​ Total Store locations as of March 31, 2019 ​ ​ 147 ​ ​ 12 ​ ​ 67 ​ ​ 226 Opened ​ ​ 10 ​ ​ — ​ ​ — ​ ​ 10 Closed / divested ​ ​ (6) ​ ​ (2) ​ ​ (56) ​ ​ (64) Temporarily closed (1) ​ ​ — ​ ​ — ​ ​ (4) ​ ​ (4) Converted ​ ​ 6 ​ ​ — ​ ​ (6) ​ ​ — Store locations as of March 31, 2020 ​ ​ 157 ​ ​ 10 ​ ​ 1 ​ ​ 168 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) These locations are temporarily closed in response to the COVID-19 pandemic.
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, including those uncertainties arising from COVID-19, 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, long-lived asset impairments, program cancellation reserves, chargebacks, and accruals related to estimated tax liabilities, product return reserves, and other liabilities.
Contracts in Transit, Accounts Receivable and Current Expected Credit Losses	Contracts in Transit, Accounts Receivable and Current Expected Credit Losses Contracts in transit consist of amounts due from non-affiliated financing institutions on retail finance contracts from vehicle sales for the portion of the vehicle sales price financed by the Company’s customers. These retail installment sales contracts are typically funded within ten days of the initial approval of the retail installment sales contract by the third-party lender. Accounts receivable are stated at realizable value, net of an allowance for doubtful accounts, which includes a reserve for expected credit losses. Accounts receivable balances due in excess of one year was $8.6 million at each of March 31, 2020 and December 31, 2019 and included in other assets in the Condensed Consolidated Balance Sheets. The allowance for doubtful accounts is based on management’s assessment of the collectability of its customer accounts. The Company regularly reviews the composition of the accounts receivable aging, historical bad debts, changes in payment patterns, customer creditworthiness, current economic trends, and reasonable and supportable forecasts about the future. Relevant risks characteristics include customer size and historical loss patterns. Management has evaluated the expected credit losses related to contracts in transit and determined that no allowance for doubtful accounts was required at either March 31, 2020 or December 31, 2019. Management additionally has evaluated the expected credit losses related to accounts receivable and determined that allowances of approximately $3.5 million for uncollectible accounts were required as of both March 31, 2020 and December 31, 2019. The following table details the changes in the allowance for doubtful accounts (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ March 31, ​ 2020 2019 Allowance for doubtful accounts: ​ ​ ​ ​ ​ ​ Balance, beginning of period ​ $ 3,537 ​ $ 4,398 Charged to bad debt expense ​ ​ 483 ​ ​ 186 Deductions (1) ​ ​ (569) ​ ​ 29 Balance, end of period ​ $ 3,451 ​ $ 4,613 ​ (1) These amounts primarily relate to the write off of uncollectable accounts after collection efforts have been exhausted.
Recently Adopted and Issued Accounting Pronouncements and Recently Issued Accounting Pronouncements	​ Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”). This standard requires the use of a forward-looking expected loss impairment model for trade and other receivables, held-to-maturity debt securities, loans and other instruments. This standard also requires impairments and recoveries for available-for-sale debt securities to be recorded through an allowance account and revises certain disclosure requirements. In April 2019, the FASB issued ASU 2019-04, Codification Improvements, which provides guidance on accounting for credit losses on accrued interest receivable balances and guidance on including recoveries when estimating the allowance. In May 2019, the FASB issued ASU 2019-05, Targeted Transition Relief, which allows entities with an option to elect fair value for certain instruments upon adoption of Topic 326. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted ASU 2016-13 on January 1, 2020 and the adoption did not materially impact its condensed 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, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted ASU 2018-15 on January 1, 2020 using the prospective transition approach and the adoption did not materially impact its condensed consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) (“ASU 2020-04”). This standard, effective for reporting periods through December 31, 2022, provides accounting relief for contract modifications that replace an interest rate impacted by reference rate reform (e.g., London Interbank Offered Rate (“LIBOR”)) with a new alternative reference rate. The guidance is applicable to investment securities, receivables, loans, debt, leases, derivatives and hedge accounting elections and other contractual arrangements. The Company adopted ASU 2020-04 as of January 1, 2020 and the adoption did not materially impact its condensed consolidated financial statements. Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). This standard reduces complexity by removing specific exceptions to general principles related to intraperiod tax allocations, ownership changes in foreign investments, and interim period income tax accounting for year-to-date losses that exceed anticipated losses. This standard also simplifies accounting for franchise taxes that are partially based on income, transactions with a government that result in a step up in the tax basis of goodwill, separate financial statements of legal entities that are not subject to tax, and enacted changes in tax laws in interim periods. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The ASU permits either a retrospective basis or a modified retrospective transition approach. The Company is currently evaluating the impact that the adoption of the provisions of this ASU will have on its consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
Summary of Significant Accounting Policies
Schedule of store locations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RV ​ RV Service & ​ Other ​ ​ ​ ​ ​ Dealerships ​ Retail Centers ​ Retail Stores ​ Total Store locations as of March 31, 2019 ​ ​ 147 ​ ​ 12 ​ ​ 67 ​ ​ 226 Opened ​ ​ 10 ​ ​ — ​ ​ — ​ ​ 10 Closed / divested ​ ​ (6) ​ ​ (2) ​ ​ (56) ​ ​ (64) Temporarily closed (1) ​ ​ — ​ ​ — ​ ​ (4) ​ ​ (4) Converted ​ ​ 6 ​ ​ — ​ ​ (6) ​ ​ — Store locations as of March 31, 2020 ​ ​ 157 ​ ​ 10 ​ ​ 1 ​ ​ 168 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) These locations are temporarily closed in response to the COVID-19 pandemic.
Schedule of allowance for doubtful accounts	The following table details the changes in the allowance for doubtful accounts (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ March 31, ​ 2020 2019 Allowance for doubtful accounts: ​ ​ ​ ​ ​ ​ Balance, beginning of period ​ $ 3,537 ​ $ 4,398 Charged to bad debt expense ​ ​ 483 ​ ​ 186 Deductions (1) ​ ​ (569) ​ ​ 29 Balance, end of period ​ $ 3,451 ​ $ 4,613 ​ (1) These amounts primarily relate to the write off of uncollectable accounts after collection efforts have been exhausted.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue
Summary of total unsatisfied performance obligation for these revenue streams, that the Company expects to recognize the amounts as revenue	​ ​ ​ ​ ​ As of ​ March 31, 2020 2020 $ 69,977 2021 ​ ​ 34,535 2022 ​ ​ 16,788 2023 ​ ​ 8,467 2024 ​ ​ 4,667 Thereafter ​ ​ 5,668 Total ​ $ 140,102 ​ ​ ​ ​

Inventories, net and Notes Pa_2

Inventories, net and Notes Payable - Floor Plan, net (Tables)	3 Months Ended
	Mar. 31, 2020
Inventory
Schedule of inventories	Inventories consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Good Sam services and plans ​ $ 38 ​ $ 590 New RVs ​ ​ 1,053,802 ​ ​ 966,134 Used RVs ​ ​ 151,058 ​ ​ 165,927 Products, parts, accessories and other ​ ​ 234,555 ​ ​ 225,888 ​ ​ $ 1,439,453 ​ $ 1,358,539 ​
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 March 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Floor Plan Facility ​ ​ ​ ​ ​ ​ Notes payable - floor plan: ​ ​ ​ ​ ​ ​ Total commitment ​ $ 1,379,750 ​ $ 1,379,750 Less: borrowings, net ​ ​ (846,424) ​ ​ (848,027) Less: flooring line aggregate interest reduction account ​ ​ (173,853) ​ ​ (87,016) Additional borrowing capacity ​ ​ 359,473 ​ ​ 444,707 Less: accounts payable for sold inventory ​ ​ (32,934) ​ ​ (27,892) Less: purchase commitments ​ ​ (10,133) ​ ​ (8,006) Unencumbered borrowing capacity ​ $ 316,406 ​ $ 408,809 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Revolving line of credit: ​ $ 57,000 ​ $ 60,000 Less borrowings ​ ​ (40,885) ​ ​ (40,885) Additional borrowing capacity ​ $ 16,115 ​ $ 19,115 ​ ​ ​ ​ ​ ​ ​ Letters of credit: ​ ​ ​ ​ ​ ​ Total commitment ​ $ 15,000 ​ $ 15,000 Less: outstanding letters of credit ​ ​ (11,175) ​ ​ (11,175) Additional letters of credit capacity ​ $ 3,825 ​ $ 3,825 ​ ​ ​ ​ ​ ​ ​

Restructuring and Long-lived _2

Restructuring and Long-lived Asset Impairment (Tables)	3 Months Ended
	Mar. 31, 2020
Restructuring and Long-lived Asset Impairment
Schedule of expenses associated with the 2019 Strategic Shift	The following table details the costs incurred during the three months ended March 31, 2020 associated with the 2019 Strategic Shift (in thousands): ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, 2020 Restructuring costs: ​ ​ ​ One-time termination benefits (1) ​ $ 180 Lease termination costs (2) ​ ​ 589 Incremental inventory reserve charges (3) ​ ​ 486 Other associated costs (4) ​ ​ 5,616 Total restructuring costs ​ $ 6,871 ​ (1) These costs were primarily in costs applicable to revenues – products, service and other, in the condensed consolidated statements of operations. (2) These costs were included in lease termination charges in the condensed consolidated statements of operations. This reflects termination fees paid, net of any gain from derecognition of the related operating lease assets and liabilities. (3) These costs were included in costs applicable to revenue – products, service and other in the condensed consolidated statements of operations. (4) Other associated costs primarily represent labor, lease, and other operating expenses incurred during the post-close wind-down period for the locations related to the 2019 Strategic Shift. For the three months ended March 31, 2020, costs of approximately $0.3 million were included in costs applicable to revenue – products, service and other, and $5.3 million were included in selling, general, and administrative expenses in the condensed consolidated statements of operations.
Schedule of changes in the restructuring accrual associated with the 2019 Strategic Shift	The following table details changes in the restructuring accrual associated with the 2019 Strategic Shift (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-time Lease Other ​ ​ Termination Termination Associated ​ ​ Benefits Costs (1) Costs Total Balance at June 30, 2019 ​ $ — ​ $ — ​ $ — ​ $ — Charged to expense ​ ​ 1,008 ​ ​ 1,350 ​ ​ 4,321 ​ ​ 6,679 Paid or otherwise settled ​ ​ (286) ​ ​ (1,350) ​ ​ (4,036) ​ ​ (5,672) Balance at December 31, 2019 ​ ​ 722 ​ ​ — ​ ​ 285 ​ ​ 1,007 Charged to expense ​ ​ 180 ​ ​ 4,170 ​ ​ 5,616 ​ ​ 9,966 Paid or otherwise settled ​ ​ (617) ​ ​ (4,170) ​ ​ (4,819) ​ ​ (9,606) Balance at March 31, 2020 ​ $ 285 ​ $ — ​ $ 1,082 ​ $ 1,367 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Lease termination costs exclude the $1.3 million and the $3.6 million of gains from the derecognition of the operating lease assets and liabilities relating to the terminated leases as part of the 2019 Strategic Shift for the six months ended December 31, 2019 and for the three months ended March 31, 2020, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets
Changes in goodwill by business line	The following is a summary of changes in the Company’s goodwill by segment for the three months ended March 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Good Sam ​ ​ ​ ​ ​ ​ ​ Services and ​ RV and ​ ​ ​ ​ Plans Outdoor Retail Consolidated Balance as of December 31, 2019 (excluding impairment charges) ​ $ 70,713 ​ $ 558,065 ​ $ 628,778 Accumulated impairment charges ​ ​ (46,884) ​ ​ (194,953) ​ ​ (241,837) Balance as of December 31, 2019 ​ ​ 23,829 ​ ​ 363,112 ​ ​ 386,941 Acquisitions (1) ​ ​ — ​ ​ 4 ​ ​ 4 Balance as of March 31, 2020 ​ $ 23,829 ​ $ 363,116 ​ $ 386,945 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Represents measurement period adjustments relating to prior period acquisitions (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 March 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ ​ Cost or ​ Accumulated ​ ​ ​ ​ Fair Value Amortization Net Good Sam Services and Plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ Membership and customer lists ​ $ 9,140 ​ $ (8,153) ​ $ 987 RV and Outdoor Retail: ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer lists and domain names ​ ​ 2,065 ​ ​ (1,792) ​ ​ 273 Trademarks and trade names ​ ​ 28,955 ​ ​ (5,343) ​ ​ 23,612 Websites ​ ​ 5,990 ​ ​ (2,038) ​ ​ 3,952 ​ ​ $ 46,150 ​ $ (17,326) ​ $ 28,824 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ Cost or ​ Accumulated ​ ​ ​ ​ Fair Value Amortization Net Good Sam Services and Plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ Membership and customer lists ​ $ 9,140 ​ $ (7,972) ​ $ 1,168 RV and Outdoor Retail: ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer lists and domain names ​ ​ 2,065 ​ ​ (1,768) ​ ​ 297 Trademarks and trade names ​ ​ 28,955 ​ ​ (4,862) ​ ​ 24,093 Websites ​ ​ 5,990 ​ ​ (1,841) ​ ​ 4,149 ​ ​ $ 46,150 ​ $ (16,443) ​ $ 29,707 ​ ​ ​ ​ ​ ​ ​ ​ ​

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Long-Term Debt
Long-Term debt	Outstanding long-term debt consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Term Loan Facility (1) ​ $ 1,146,062 ​ $ 1,148,115 Real Estate Facility (2) ​ ​ 18,997 ​ ​ 19,521 Subtotal ​ ​ 1,165,059 ​ ​ 1,167,636 Less: current portion ​ ​ (13,962) ​ ​ (14,085) Total ​ $ 1,151,097 ​ $ 1,153,551 ​ ​ ​ ​ ​ ​ ​ (1) Net of $4.1 million and $4.3 million of original issue discount at March 31, 2020 and December 31, 2019, respectively, and $10.0 million and $10.7 million of finance costs at March 31, 2020 and December 31, 2019, respectively. (2) Net of $0.2 million and $0.2 million of finance costs at March 31, 2020 and December 31, 2019, respectively.
Schedule of outstanding amounts and available borrowings under the Senior Secured Credit Facilities	The following table details the outstanding amounts and available borrowings under the Senior Secured Credit Facilities as of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Senior Secured Credit Facilities: ​ ​ ​ ​ ​ ​ Term Loan Facility: ​ ​ ​ ​ ​ ​ Principal amount of borrowings ​ $ 1,195,000 ​ $ 1,195,000 Less: cumulative principal payments ​ ​ (34,895) ​ ​ (31,898) Less: unamortized original issue discount ​ ​ (4,057) ​ ​ (4,320) Less: finance costs ​ ​ (9,986) ​ ​ (10,667) ​ ​ ​ 1,146,062 ​ ​ 1,148,115 Less: current portion ​ ​ (11,991) ​ ​ (11,991) Long-term debt, net of current portion ​ $ 1,134,071 ​ $ 1,136,124 Revolving Credit Facility: ​ ​ ​ ​ ​ ​ Total commitment ​ $ 35,000 ​ $ 35,000 Less: outstanding letters of credit ​ ​ (3,622) ​ ​ (4,112) Less: availability reduction due to Total Leverage Ratio ​ ​ (21,965) ​ ​ (21,622) Additional borrowing capacity ​ $ 9,413 ​ $ 9,266

Lease Obligations (Tables)

Lease Obligations (Tables)	3 Months Ended
	Mar. 31, 2020
Lease Obligations
Summary of lease cost	The following presents certain information related to the costs for operating leases ($ in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Operating lease cost ​ $ 31,000 ​ $ 30,202 Short-term lease cost ​ ​ 489 ​ ​ 713 Variable lease cost ​ ​ 5,028 ​ ​ 552 Sublease income ​ ​ (412) ​ ​ (305) Net lease costs ​ $ 36,105 ​ $ 31,162
Schedule of cash flow supplemental information	The following presents supplemental cash flow information related to leases ($ in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 Cash paid for amounts included in the measurement of lease liability: ​ ​ ​ ​ ​ ​ Operating cash flows for leases ​ $ 30,737 ​ $ 30,044 ​ ​ ​ ​ ​ ​ ​ Operating lease assets obtained in exchange for lease liabilities: ​ ​ ​ ​ ​ ​ New, remeasured, and terminated leases ​ $ 18,804 ​ $ 23,403

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Measurements
Summary of aggregate carrying value and fair value of fixed rate debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ March 31, 2020 ​ December 31, 2019 ($ in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Term Loan Facility ​ Level 2 ​ $ 1,146,062 ​ $ 783,071 ​ $ 1,148,115 ​ $ 1,104,947 Floor Plan Facility Revolving Line of Credit ​ Level 2 ​ ​ 40,885 ​ ​ 40,021 ​ ​ 40,885 ​ ​ 41,299 Real Estate Facility ​ Level 2 ​ ​ 18,997 ​ ​ 18,347 ​ ​ 19,521 ​ ​ 21,030

Statement of Cash Flows (Tables

Statement of Cash Flows (Tables)	3 Months Ended
	Mar. 31, 2020
Statement of Cash Flows
Supplemental disclosures of cash flow information	Supplemental disclosures of cash flow information for the following periods (in thousands) were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ March 31, ​ 2020 2019 Cash paid during the period for: ​ ​ ​ ​ ​ ​ Interest ​ $ 22,955 ​ $ 26,977 Income taxes ​ ​ 53 ​ ​ 119 Non-cash investing activities: ​ ​ ​ ​ ​ ​ Leasehold improvements paid by lessor ​ ​ 24 ​ ​ 1,540 Vehicles transferred to property and equipment from inventory ​ ​ 119 ​ ​ 402 Capital expenditures in accounts payable and accrued liabilities ​ ​ 3,325 ​ ​ 6,634 Non-cash financing activities: ​ ​ ​ ​ ​ ​ Par value of Class A common stock issued for vested restricted stock units ​ ​ — ​ ​ — Par value of Class A common stock repurchased for withholding taxes on vested RSUs ​ ​ — ​ ​ —

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2020
Assets Or Stock Of Multiple Dealership Locations Acquired [Member]
Acquisitions
Summary of the purchase price allocations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ($ in thousands) 2020 2019 Tangible assets (liabilities) acquired (assumed): ​ ​ ​ ​ ​ ​ Inventories, net ​ $ (4) ​ $ 9,096 Prepaid expenses and other assets ​ ​ — ​ ​ 87 Property and equipment, net ​ ​ — ​ ​ 105 Accrued liabilities ​ ​ — ​ ​ (100) Total tangible net assets acquired ​ ​ (4) ​ ​ 9,188 Goodwill ​ ​ 4 ​ ​ 11,981 Purchase price ​ ​ — ​ ​ 21,169 Cash and cash equivalents acquired ​ ​ — ​ ​ — Cash paid for acquisitions, net of cash acquired ​ ​ — ​ ​ 21,169 Inventory purchases financed via floor plan ​ ​ — ​ ​ (8,416) Cash payment net of floor plan financing ​ $ — ​ $ 12,753 ​ ​ ​ ​ ​ ​ ​

Non-Controlling Interests (Tabl

Non-Controlling Interests (Tables)	3 Months Ended
	Mar. 31, 2020
Non-Controlling Interests
Schedule of effects of change in ownership	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ($ in thousands) 2020 2019 Net loss attributable to Camping World Holdings, Inc. ​ $ (8,160) ​ $ (19,395) Transfers to non-controlling interests: ​ ​ ​ ​ ​ ​ Increase in additional paid-in capital as a result of the vesting of restricted stock units ​ ​ 82 ​ ​ — Decrease in additional paid-in capital as a result of repurchases of Class A common stock for withholding taxes on vested RSUs ​ ​ (212) ​ ​ — Increase in additional paid-in capital as a result of the redemption of common units of CWGS, LLC ​ ​ 4 ​ ​ 12 Change from net loss attributable to Camping World Holdings, Inc. and transfers to non-controlling interests ​ $ (8,286) ​ $ (19,383) ​ ​ ​ ​ ​ ​ ​

Equity-based Compensation Pla_2

Equity-based Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Equity-based Compensation Plans
Schedule of equity-based compensation expense classified with the consolidated statements of operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ March 31, ($ in thousands) 2020 2019 Equity-based compensation expense: ​ ​ ​ ​ ​ ​ Costs applicable to revenue ​ $ 156 ​ $ 207 Selling, general, and administrative ​ ​ 3,156 ​ ​ 2,509 Total equity-based compensation expense ​ $ 3,312 ​ $ 2,716
Summary of stock option activity	​ ​ ​ ​ ​ ​ ​ Stock Options ​ (in thousands) Outstanding at December 31, 2019 ​ ​ 745 Forfeited ​ ​ (18) Outstanding at March 31, 2020 ​ ​ 727 Options exercisable at March 31, 2020 ​ ​ 537
Summary of restricted stock unit activity	​ ​ ​ ​ ​ ​ ​ Restricted ​ ​ Stock Units ​ (in thousands) Outstanding at December 31, 2019 ​ ​ 1,806 Vested ​ ​ (47) Forfeited ​ ​ (109) Outstanding at March 31, 2020 ​ ​ 1,650

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share
Schedule of reconciliations of the numerators and denominators used to compute basic and diluted earnings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, (In thousands except per share amounts) ​ 2020 2019 Numerator: ​ ​ ​ ​ ​ ​ Net loss ​ $ (14,129) ​ $ (26,807) Less: net loss attributable to non-controlling interests ​ ​ 5,969 ​ ​ 7,412 Net loss attributable to Camping World Holdings, Inc. — basic and diluted ​ $ (8,160) ​ $ (19,395) Denominator: ​ ​ ​ ​ ​ ​ Weighted-average shares of Class A common stock outstanding — basic and diluted ​ ​ 37,534 ​ ​ 37,195 ​ ​ ​ ​ ​ ​ ​ Loss per share of Class A common stock — basic ​ $ (0.22) ​ $ (0.52) Loss per share of Class A common stock — diluted ​ $ (0.22) ​ $ (0.52) ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ 738 ​ ​ 859 Restricted stock units ​ ​ 1,732 ​ ​ 1,444 Common units of CWGS, LLC that are convertible into Class A common stock ​ ​ 51,649 ​ ​ 51,673

Segments Information (Tables)

Segments Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Information
Reportable segment revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ Good Sam ​ RV and ​ ​ ​ ​ ​ ​ ​ Services ​ Outdoor ​ Intersegment ​ ​ ​ ($ in thousands) and Plans Retail Eliminations Total Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Good Sam services and plans ​ $ 48,692 ​ $ — ​ $ (1,484) ​ $ 47,208 New vehicles ​ ​ — ​ ​ 498,396 ​ ​ (1,079) ​ ​ 497,317 Used vehicles ​ ​ — ​ ​ 207,233 ​ ​ (568) ​ ​ 206,665 Products, service and other ​ ​ — ​ ​ 173,012 ​ ​ (389) ​ ​ 172,623 Finance and insurance, net ​ ​ — ​ ​ 94,448 ​ ​ (1,992) ​ ​ 92,456 Good Sam Club ​ ​ — ​ ​ 11,004 ​ ​ — ​ ​ 11,004 Total consolidated revenue ​ $ 48,692 ​ $ 984,093 ​ $ (5,512) ​ $ 1,027,273 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2019 ​ ​ Good Sam ​ RV and ​ ​ ​ ​ ​ ​ ​ Services ​ Outdoor ​ Intersegment ​ ​ ​ ($ in thousands) and Plans Retail Eliminations Total Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Good Sam services and plans ​ $ 48,298 ​ $ — ​ $ (1,332) ​ $ 46,966 New vehicles ​ ​ — ​ ​ 530,749 ​ ​ (1,172) ​ ​ 529,577 Used vehicles ​ ​ — ​ ​ 180,605 ​ ​ (597) ​ ​ 180,008 Products, service and other ​ ​ — ​ ​ 210,198 ​ ​ (5,322) ​ ​ 204,876 Finance and insurance, net ​ ​ — ​ ​ 94,280 ​ ​ (2,389) ​ ​ 91,891 Good Sam Club ​ ​ — ​ ​ 11,451 ​ ​ — ​ ​ 11,451 Total consolidated revenue ​ $ 48,298 ​ $ 1,027,283 ​ $ (10,812) ​ $ 1,064,769 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Reportable segment income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ March 31, ($ in thousands) 2020 2019 Segment income (loss): (1) ​ ​ ​ ​ ​ ​ Good Sam Services and Plans ​ $ 21,340 ​ $ 22,414 RV and Outdoor Retail ​ ​ 128 ​ ​ (375) Total segment income ​ ​ 21,468 ​ ​ 22,039 Corporate & other ​ ​ (2,729) ​ ​ (3,173) Depreciation and amortization ​ ​ (14,078) ​ ​ (13,594) Other interest expense, net ​ ​ (14,658) ​ ​ (17,643) Tax Receivable Agreement liability adjustment ​ ​ — ​ ​ 8,477 Segment loss before income taxes ​ $ (9,997) ​ $ (3,894) (1) Segment income (loss) is defined as income (loss) from operations before depreciation and amortization plus floor plan interest expense.
Reportable depreciation and amortization and other interest expense, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ March 31, ($ in thousands) 2020 2019 Depreciation and amortization: ​ ​ ​ ​ ​ ​ Good Sam Services and Plans ​ $ 756 ​ $ 852 RV and Outdoor Retail ​ ​ 13,322 ​ ​ 12,742 Total depreciation and amortization ​ $ 14,078 ​ $ 13,594 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ March 31, ($ in thousands) 2020 2019 Other interest expense, net: ​ ​ ​ ​ ​ ​ Good Sam Services and Plans ​ $ — ​ $ — RV and Outdoor Retail ​ ​ 1,892 ​ ​ 2,148 Subtotal ​ ​ 1,892 ​ ​ 2,148 Corporate & other ​ ​ 12,766 ​ ​ 15,495 Total other interest expense, net ​ ​ 14,658 ​ ​ 17,643
Reportable segment assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ($ in thousands) 2020 2019 Assets: ​ ​ ​ ​ ​ ​ Good Sam Services and Plans ​ $ 102,087 ​ $ 138,360 RV and Outdoor Retail ​ ​ 3,113,225 ​ ​ 3,047,652 Subtotal ​ ​ 3,215,312 ​ ​ 3,186,012 Corporate & other ​ ​ 187,249 ​ ​ 190,228 Total assets ​ $ 3,402,561 ​ $ 3,376,240

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Description of Business (Details) $ in Thousands	3 Months Ended		12 Months Ended	15 Months Ended
	Mar. 31, 2020USD ($)locationsegment	Mar. 31, 2019location	Dec. 31, 2019USD ($)location	Mar. 31, 2020location
Segments Information
Number of reportable segments | segment	2
Number of stores	168	226		168
Number of stores, beginning of period
Number of locations opened				10
Closed/divested				(64)
Temporarily closed				(4)
Number of stores, end of period	168	226		168
RV Dealerships
Segments Information
Number of stores	157	147		157
Number of stores, beginning of period
Number of locations opened				10
Closed/divested				(6)
Number of locations converted				6
Number of stores, end of period	157	147		157
RV Service And Retail Centers
Segments Information
Number of stores	10	12		10
Number of stores, beginning of period
Closed/divested				(2)
Number of stores, end of period	10	12		10
Other Retail Stores
Segments Information
Number of stores	1	67		1
Number of stores, beginning of period
Closed/divested				(56)
Temporarily closed				(4)
Number of locations converted				(6)
Number of stores, end of period	1	67		1
CWH | CWGS, LLC
Segments Information
Ownership interest	42.10%	42.00%	42.00%
2019 Strategic Shift
Segments Information
Liquidation of inventory | $	$ 6,871
2019 Strategic Shift | Non RV Retail Stores
Segments Information
Closed/divested			34
2019 Strategic Shift | Incremental inventory reserve charges | Non RV Retail Stores
Segments Information
Liquidation of inventory | $			$ 108,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Contracts in Transit, Accounts Receivable and Current Expected Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
"Shipping, Handling and Transportation Costs [Abstract]"
Number of days for retail installment sales contracts funded after the initial approval of the retail installment sales contract by third party lender	10 days
Accounts receivable due in excess of one year	$ 8,600		$ 8,600
Allowance for doubtful accounts - contracts in transit	0		$ 0
Allowance for doubtful accounts
Balance, beginning of period	3,537	$ 4,398
Charged to bad debt expense	483	186
Deductions	(569)	29
Balance, end of period	$ 3,451	$ 4,613

Revenue - Contract Assets (Deta

Revenue - Contract Assets (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Accounts Receivable | RV Service
Revenue
Contract asset	$ 5	$ 6.1

Revenue - Performance Obligatio

Revenue - Performance Obligation (Details) $ in Thousands	Mar. 31, 2020USD ($)
Performance obligation
Revenue expected to be recognized	$ 140,102
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Performance obligation
Revenue expected to be recognized	$ 69,977
Unsatisfied performance obligation, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Performance obligation
Revenue expected to be recognized	$ 34,535
Unsatisfied performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Performance obligation
Revenue expected to be recognized	$ 16,788
Unsatisfied performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Performance obligation
Revenue expected to be recognized	$ 8,467
Unsatisfied performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Performance obligation
Revenue expected to be recognized	$ 4,667
Unsatisfied performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Performance obligation
Revenue expected to be recognized	$ 5,668
Unsatisfied performance obligation, period

Inventories, net and Notes Pa_3

Inventories, net and Notes Payable - Floor Plan, net - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Inventories
Inventories	$ 1,439,453	$ 1,358,539
Good Sam Services and Plans
Inventories
Inventories	38	590
New RV vehicles
Inventories
Inventories	1,053,802	966,134
Used RV vehicles
Inventories
Inventories	151,058	165,927
Products, service and other
Inventories
Inventories	$ 234,555	$ 225,888

Inventories, net and Notes Pa_4

Inventories, net and Notes Payable - Floor Plan, net - Floor Plan Payable (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Floor Plan Facility
Floor Plan Payable
Maximum borrowing capacity	$ 1,379,750	$ 1,379,750
Quarterly reduction in maximum borrowing capacity	3,000
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	$ 57,000	$ 60,000
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)	2.15%
Variable rate basis (as a percent)	1.58	1.71
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%	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%	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%	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%	1.00%

Inventories, net and Notes Pa_5

Inventories, net and Notes Payable - Floor Plan, net - Floor Plan Outstanding (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Floor Plan Payable
Less: borrowings, net	$ (40,885)	$ (40,885)
Floor Plan Facility
Floor Plan Payable
Total commitment	1,379,750	1,379,750
Less: borrowings, net	(846,424)	(848,027)
Less: flooring line aggregate interest reduction account	173,853	87,016
Additional borrowing capacity	359,473	444,707
Less: accounts payable for sold inventory	(32,934)	(27,892)
Less: purchase commitments	10,133	8,006
Unencumbered borrowing capacity	316,406	408,809
Line of Credit | Floor Plan Facility
Floor Plan Payable
Total commitment	57,000	60,000
Less: borrowings, net	(40,885)	(40,885)
Additional borrowing capacity	16,115	19,115
Letters of credit | Floor Plan Facility
Floor Plan Payable
Total commitment	15,000	15,000
Less: outstanding letters of credit	(11,175)	(11,175)
Additional letters of credit capacity	$ 3,825	$ 3,825

Restructuring and Long-lived _3

Restructuring and Long-lived Asset Impairment (Details) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended	7 Months Ended	15 Months Ended
	Apr. 30, 2020USD ($)location	Mar. 31, 2020USD ($)location	Dec. 31, 2019USD ($)	Mar. 31, 2020USD ($)location	Mar. 31, 2020USD ($)location	Sep. 03, 2019USD ($)	Mar. 31, 2019USD ($)location
2019 Strategic Shift
Closed/divested | location					64
Temporarily closed | location					4
Number of stores | location		168		168	168		226
Long-lived Asset Impairment
Number of locations with impaired long-lived assets | location		10		10	10
Long-lived asset impairment		$ 6,569
Leasehold improvements
Long-lived Asset Impairment
Long-lived asset impairment		2,400
Furniture and equipment
Long-lived Asset Impairment
Long-lived asset impairment		2,600
Operating lease right-of-use assets
Long-lived Asset Impairment
Long-lived asset impairment		1,600
Outdoor Lifestyle Locations
2019 Strategic Shift
Number of locations closed | location	3
2019 Strategic Shift
2019 Strategic Shift
Number of distribution centers closed | location				3
Restructuring Costs
Charged to expense		6,871
Gain from derecognition of the operating lease assets and liabilities relating to the terminated leases		3,600	$ 1,300
Long-lived Asset Impairment
Long-lived asset impairment		6,500
2019 Strategic Shift | Minimum
2019 Strategic Shift
Additional costs to be incurred		10,100		$ 10,100	$ 10,100
2019 Strategic Shift | Maximum
2019 Strategic Shift
Additional costs to be incurred		15,100		15,100	15,100
2019 Strategic Shift | One-time termination benefits
Restructuring Costs
Beginning balance	$ 285	722
Charged to expense		180	1,008	1,200
Paid or otherwise settled		(617)	(286)
Ending balance		285	722	285	285
2019 Strategic Shift | One-time termination benefits | Minimum
2019 Strategic Shift
Expected incurred costs						$ 1,200
2019 Strategic Shift | One-time termination benefits | Maximum
2019 Strategic Shift
Expected incurred costs						1,500
2019 Strategic Shift | Contract termination
Restructuring Costs
Charged to expense		4,170	1,350
Paid or otherwise settled		(4,170)	(1,350)
2019 Strategic Shift | Lease Termination Costs
Restructuring Costs
Charged to expense		589		5,500
2019 Strategic Shift | Lease Termination Costs | Minimum
2019 Strategic Shift
Expected incurred costs						15,000
2019 Strategic Shift | Lease Termination Costs | Maximum
2019 Strategic Shift
Expected incurred costs						20,000
2019 Strategic Shift | Incremental inventory reserve charges
2019 Strategic Shift
Expected incurred costs						42,400
Incurred costs		42,400		42,400	42,400
2019 Strategic Shift | Other associated costs
2019 Strategic Shift
Incurred costs		9,900		9,900	9,900
Restructuring Costs
Beginning balance	1,082	285
Charged to expense		5,616	4,321	9,900
Paid or otherwise settled		(4,819)	(4,036)
Ending balance		1,082	285	1,082	1,082
2019 Strategic Shift | Other associated costs | Minimum
2019 Strategic Shift
Expected incurred costs						20,000
2019 Strategic Shift | Other associated costs | Maximum
2019 Strategic Shift
Expected incurred costs						$ 25,000
2019 Strategic Shift | Restructuring costs excluding incremental inventory reserve charges
Restructuring Costs
Beginning balance	$ 1,367	1,007
Charged to expense		9,966	6,679
Paid or otherwise settled		(9,606)	(5,672)
Ending balance		1,367	$ 1,007	$ 1,367	$ 1,367
2019 Strategic Shift | Selling, general, and administrative | One-time termination benefits
Restructuring Costs
Charged to expense		180
2019 Strategic Shift | Selling, general, and administrative | Other associated costs
2019 Strategic Shift
Incurred costs							$ 5,300
2019 Strategic Shift | Costs applicable to revenue | Incremental inventory reserve charges
Restructuring Costs
Charged to expense		$ 486
2019 Strategic Shift | Costs applicable to revenue | Other associated costs
2019 Strategic Shift
Incurred costs							$ 300
2019 Strategic Shift | Outdoor Lifestyle Locations
2019 Strategic Shift
Closed/divested | location				36
2019 Strategic Shift | Specialty Retail locations
2019 Strategic Shift
Closed/divested | location				19

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Change in Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Sep. 30, 2019	Dec. 31, 2018
Goodwill
Balance (excluding impairment charges)			$ 628,778
Accumulated impairment charges			(241,837)
Balance	$ 386,941
Acquisitions	4
Impairment charge		$ 0
Balance	386,945
Good Sam Services and Plans
Goodwill
Balance (excluding impairment charges)			70,713
Accumulated impairment charges			(46,884)
Balance	23,829
Balance	23,829
RV and Outdoor Retail
Goodwill
Balance (excluding impairment charges)			558,065
Accumulated impairment charges			$ (194,953)
Balance	363,112
Acquisitions	4
Balance	$ 363,116

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Finite-lived Intangible Assets and Related Accumulated Amortization (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Intangible Assets
Cost or Fair Value	$ 46,150	$ 46,150
Accumulated Amortization	(17,326)	(16,443)
Net	28,824	29,707
Good Sam Services and Plans | Membership and customer lists
Intangible Assets
Cost or Fair Value	9,140	9,140
Accumulated Amortization	(8,153)	(7,972)
Net	987	1,168
RV and Outdoor Retail | Customer lists and domain names
Intangible Assets
Cost or Fair Value	2,065	2,065
Accumulated Amortization	(1,792)	(1,768)
Net	273	297
RV and Outdoor Retail | Trademarks and trade names
Intangible Assets
Cost or Fair Value	28,955	28,955
Accumulated Amortization	(5,343)	(4,862)
Net	23,612	24,093
RV and Outdoor Retail | Websites
Intangible Assets
Cost or Fair Value	5,990	5,990
Accumulated Amortization	(2,038)	(1,841)
Net	$ 3,952	$ 4,149

Long-Term Debt - Outstanding lo

Long-Term Debt - Outstanding long term debt (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Long-Term Debt
Long-term debt	$ 1,165,059	$ 1,167,636
Less: current portion	(13,962)	(14,085)
Long-term debt, net of current maturities	1,151,097	1,153,551
Term Loan Facility
Long-Term Debt
Long-term debt	1,146,062	1,148,115
Unamortized discount	4,100	4,300
Finance costs	10,000	10,700
Real Estate Facility
Long-Term Debt
Long-term debt	18,997	19,521
Finance costs	$ 200	$ 200

Long-Term Debt - Senior Secured

Long-Term Debt - Senior Secured Credit Facilities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Term Loan Facility
Long-Term Debt
Maximum borrowing capacity	$ 1,190,000	$ 1,190,000
Unamortized discount	4,100	4,300
Secured Debt | Term Loan Facility
Long-Term Debt
Unamortized discount	$ 4,057	$ 4,320
Secured Debt | Line of Credit | Term Loan Facility
Long-Term Debt
Debt Instrument, Prepayment Requirement, Percentage of Excess Cash Flow	50.00%
Principal payment frequency	quarterly	quarterly
Quarterly amortization payment	$ 3,000	$ 3,000
Secured Debt | Revolving loans | New Senior Secured Credit Facility Revolving Credit Facility
Long-Term Debt
Maximum borrowing capacity	35,000	35,000
Secured Debt | Letters of credit | New Senior Secured Credit Facility Revolving Credit Facility
Long-Term Debt
Debt Instrument, Maximum Amount Allocated to Letters of Credit	$ 15,000	$ 15,000

Long-Term Debt - Real Estate Fa

Long-Term Debt - Real Estate Facility (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Amount outstanding	$ 1,165,059	$ 1,167,636
Real Estate Facility
Debt Instrument [Line Items]
Amount outstanding	18,997	19,521
Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,190,000	1,190,000
Interest rate (as a percent)	3.90%
Amount outstanding	$ 1,146,062	1,148,115
Term Loan Facility | Secured Debt
Debt Instrument [Line Items]
Amount outstanding	1,146,062	1,148,115
Maximum borrowing capacity	1,195,000	1,195,000
Line of Credit | Real Estate Facility | Secured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 21,500	$ 21,500
Interest rate (as a percent)	4.65%
Commitment fee (as a percent)	0.50%
Additional borrowing capacity	$ 0
Amount outstanding	$ 19,200

Long-Term Debt - Outstanding am

Long-Term Debt - Outstanding amounts and available borrowings under Senior Secured Credit Facilities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total commitment	$ 1,165,059	$ 1,167,636
Less: current portion	(13,962)	(14,085)
Long-term debt, net of current portion	1,151,097	1,153,551
Term Loan Facility
Debt Instrument [Line Items]
Less: unamortized original issue discount	(4,100)	(4,300)
Less: finance costs	(10,000)	(10,700)
Total commitment	1,146,062	1,148,115
Secured Debt | Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	1,195,000	1,195,000
Less: cumulative principal payments	(34,895)	(31,898)
Less: unamortized original issue discount	(4,057)	(4,320)
Less: finance costs	(9,986)	(10,667)
Total commitment	1,146,062	1,148,115
Less: current portion	(11,991)	(11,991)
Long-term debt, net of current portion	1,134,071	1,136,124
Secured Debt | New Senior Secured Credit Facility Revolving Credit Facility
Debt Instrument [Line Items]
Total commitment	35,000	35,000
Less: outstanding letters of credit	(3,622)	(4,112)
Less: availability reduction due to Total Leverage Ratio	(21,965)	(21,622)
Additional borrowing capacity	$ 9,413	$ 9,266

Lease Obligations - Lease Costs

Lease Obligations - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Lease costs
Operating lease cost	$ 31,000	$ 30,202
Short-term lease cost	489	713
Variable lease cost	5,028	552
Sublease income	(412)	(305)
Net lease costs	$ 36,105	$ 31,162

Lease Obligations - Supplementa

Lease Obligations - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Lease Obligations
Operating cash flows for operating leases	$ 30,737	$ 30,044
Operating lease assets obtained in exchange for lease liabilities: New, remeasured, and terminated leases	$ 18,804	$ 23,403

Lease Obligations - Lease Matur

Lease Obligations - Lease Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Operating lease liabilities
Less: Current portion	$ (60,300)	$ (58,613)
Noncurrent lease obligations	$ 845,106	$ 843,312

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
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
Level 2 | Carrying Value | Term Loan Facility
Fair Value Measurements
Debt instrument	1,146,062	1,148,115
Level 2 | Carrying Value | Floor Plan Facility
Fair Value Measurements
Debt instrument	40,885	40,885
Level 2 | Carrying Value | Real Estate Facility
Fair Value Measurements
Debt instrument	18,997	19,521
Level 2 | Fair Value | Term Loan Facility
Fair Value Measurements
Debt instrument	783,071	1,104,947
Level 2 | Fair Value | Floor Plan Facility
Fair Value Measurements
Debt instrument	40,021	41,299
Level 2 | Fair Value | Real Estate Facility
Fair Value Measurements
Debt instrument	$ 18,347	$ 21,030

Commitments and Contingencies -

Commitments and Contingencies - Litigation (Details)	Aug. 06, 2019lawsuit
U S District Court of Delaware Cases
Commitments and Contingencies
Number of lawsuits	2

Long-Term Debt - General Inform

Long-Term Debt - General Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Long-Term Debt
Amount outstanding	$ 1,165,059	$ 1,167,636
Term Loan Facility
Long-Term Debt
Maximum borrowing capacity	$ 1,190,000	1,190,000
Interest rate (as a percent)	3.90%
Amount outstanding	$ 1,146,062	1,148,115
Secured Debt | Term Loan Facility
Long-Term Debt
Amount outstanding	1,146,062	1,148,115
Secured Debt | New Senior Secured Credit Facility Revolving Credit Facility
Long-Term Debt
Additional borrowing capacity	9,413	9,266
Amount outstanding	$ 35,000	$ 35,000
Secured Debt | Line of Credit | Term Loan Facility
Long-Term Debt
Principal payment frequency	quarterly	quarterly
Quarterly amortization payment	$ 3,000	$ 3,000
Prepayment requirement as a percentage of excess cash flow (as a percent)	50.00%
Secured Debt | Line of Credit | New Senior Secured Credit Facility Revolving Credit Facility
Long-Term Debt
Amount subtracted from aggregate borrowings in determining compliance with the total leverage ratio	$ 5,000
The minimum percentage of the aggregate amount of the revolving lenders revolving commitments	30.00%
Maximum amount to borrow	$ 9,400
Secured Debt | Revolving loans | New Senior Secured Credit Facility Revolving Credit Facility
Long-Term Debt
Maximum borrowing capacity	35,000	35,000
Secured Debt | Letters of credit | New Senior Secured Credit Facility Revolving Credit Facility
Long-Term Debt
Maximum amount allocated to letters of credit	$ 15,000	$ 15,000

Statement of Cash Flows (Detail

Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash paid during the period for:
Interest	$ 22,955	$ 26,977
Income taxes	(53)	(119)
Non-cash investing activities:
Leasehold improvements paid by lessor	24	1,540
Vehicles transferred to property and equipment from inventory	119	402
Capital expenditures in accounts payable and accrued liabilities	$ 3,325	$ 6,634

Acquisitions - General Informat

Acquisitions - General Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)location
Acquisitions
Real properties purchased from parties related to the sellers of the dealership businesses	$ 0.7
Assets or stock of multiple dealership locations acquired during the first quarters of 2015 and 2016
Acquisitions
Number of locations acquired | location	2
Payments to acquire assets	$ 21.2
Borrowing to purchase of business	$ 8.4

Acquisitions - Assets (Liabilit

Acquisitions - Assets (Liabilities) Acquired (Assumed) at Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2020	Dec. 31, 2019
Tangible assets (liabilities) acquired (assumed):
Goodwill		$ 386,945	$ 386,941
Cash paid for acquisitions, net of cash acquired	$ 21,169
2019 Acquisitions
Tangible assets (liabilities) acquired (assumed):
Inventories, net	9,096
Prepaid expenses and other assets	87
Property and equipment, net	105
Accrued liabilities	(100)
Total tangible net assets acquired	9,188
Goodwill	11,981
Purchase Price	21,169
Cash paid for acquisitions, net of cash acquired	21,169
Inventory purchases financed via floor plan	(8,416)
Cash payment net of floor plan financing	$ 12,753

Acquisitions - Goodwill, Revenu

Acquisitions - Goodwill, Revenue and Pre-Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Acquisitions
Goodwill for tax purposes	$ 0	$ 12,000
Revenue		4,800
Pre-tax income (loss)		$ (300)
2019 Acquisitions
Acquisitions
Inventory measurement period adjustment	(4)
Tangible net assets measurement period adjustment	(4)
Goodwill measurement period adjustment	$ 4

Income Taxes - Federal Tax purp

Income Taxes - Federal Tax purpose (Details) - USD ($) $ in Thousands	Oct. 06, 2016	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
U.S. Federal income tax rate (as a percent)		21.00%
Deferred income taxes due to transfer of assets		$ 16,300	$ 16,300
Income tax expense		4,132	$ 22,913
Decrease in income tax expense		$ (18,800)
Effective tax rate (as a percent)		41.30%	588.40%
Current portion of liabilities under tax receivable agreement		$ 6,563		$ 6,563
Tax Receivable Agreement liability adjustment			$ 8,477
Tax receivable agreement
Reduction in tax receivable agreement liability due to reduction of future expected tax amortization			7,200
Reduction in tax receivable agreement liability due to change in state income tax rates			1,100
Tax Receivable Agreement liability adjustment			$ 8,500
Tax receivable agreement | CWGS, LLC
Units issued in exchange		20,000	5,725
Tax receivable agreement | Continuing Equity Owners and Crestview partners II GP LP
Payment, as percent of tax benefits (as a percent)	85.00%
CWH | CWGS, LLC
Ownership interest		42.10%	42.00%	42.00%
Units held		37,539,786		37,488,989
Crestview Partners II GP LP | Tax receivable agreement
Liability under tax receivable agreement		$ 114,800
Current portion of liabilities under tax receivable agreement		$ 6,600

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Nov. 01, 2019	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2013	Jan. 31, 2012
Related party transactions
Cash distribution to members		$ 8,410,000	$ 5,534,000
Stephen Adams
Related party transactions
Payments to related party for purchasing advertising services		0	200,000
Related Party Agreement | Precise Graphix
Related party transactions
Related party expense		100,000	200,000
Precise Graphix | Related Party Agreement
Related party transactions
Related party expense			200,000
FreedomRoads | Mr. Lemonis
Related party transactions
Base rent				$ 31,500	$ 29,000
Additional monthly base rent	$ 5,200
FreedomRoads | Lease Agreement | Managers and Officers
Related party transactions
Related party expense		$ 500,000	$ 500,000
Mr. Lemonis | Precise Graphix
Related party transactions
Economic interest (as a percent)		67.00%
Stephen Adams | Adams Radio | Stephen Adams
Related party transactions
Indirect interest		90.00%

Stockholder's Equity (Details)

Stockholder's Equity (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)class
Stockholders' Equity
Number of classes of common stock | class	3
Common Class B
Stockholders' Equity
Consideration for redemption of shares | $	$ 0

Non-Controlling Interests (Deta

Non-Controlling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Summarizes the effects of change in ownership:
Net loss attributable to Camping World Holdings, Inc.	$ (8,160)	$ (19,395)
Transfers to non-controlling interests:
Change from net (loss attributable to Camping World Holdings, Inc. and transfers to non-controlling interests	(8,286)	(19,383)
Additional Paid-in Capital
Transfers to non-controlling interests:
Increase in additional paid-in capital as a result of the vesting of restricted stock units	82
Decrease in additional paid-in capital as a result of repurchases of Class A common stock for withholding taxes on vested RSUs	(212)
Increase in additional paid-in capital as a result of the redemption of common units of CWGS, LLC	$ 4	$ 12
CWGS, LLC
Non-Controlling Interests
LLC outstanding	89,189,070		89,158,273
CWH | CWGS, LLC
Non-Controlling Interests
Units held	37,539,786		37,488,989
Ownership interest	42.10%	42.00%	42.00%
Continuing Equity Owners | CWGS, LLC
Non-Controlling Interests
Units held	51,649,284		51,669,284
Percentage of ownership	57.90%		58.00%

Equity-based Compensation Pla_3

Equity-based Compensation Plans - Summary of Equity-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Equity-based compensation expense:
Equity based compensation expense	$ 3,312	$ 2,716
Costs applicable to revenue
Equity-based compensation expense:
Equity based compensation expense	156	207
Selling, general, and administrative
Equity-based compensation expense:
Equity based compensation expense	$ 3,156	$ 2,509

Equity-based Compensation Pla_4

Equity-based Compensation Plans - Stock Options (Details) - Stock options shares in Thousands	3 Months Ended
	Mar. 31, 2020shares
Stock Options
Outstanding at December 31, 2018 (in shares)	745
Forfeited (in shares)	(18)
Outstanding at December 31, 2019 (in shares)	727
Options exercisable at December 31, 2019 (in shares)	537

Equity-based Compensation Pla_5

Equity-based Compensation Plans - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) shares in Thousands	3 Months Ended
	Mar. 31, 2020shares
Restricted Stock Units
Outstanding at December 31, 2019 (in shares)	1,806
Vested (in shares)	(47)
Forfeited (in shares)	(109)
Outstanding at March 31, 2020 (in shares)	1,650

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Numerator:
Net loss	$ (14,129)	$ (26,807)
Less: net loss attributable to non-controlling interests	5,969	7,412
Net loss attributable to Camping World Holdings, Inc. - basic	(8,160)	(19,395)
Net loss attributable to Camping World Holdings, Inc. - diluted	$ (8,160)	$ (19,395)
Denominator:
Weighted-average shares of Class A common stock outstanding - basic	37,534,000	37,195,000
Weighted-average shares of Class A common stock outstanding - diluted	37,534,000	37,195,000
Loss per share of Class A common stock - basic	$ (0.22)	$ (0.52)
Loss per share of Class A common stock - diluted	$ (0.22)	$ (0.52)
Stock Option
Denominator:
Antidilutive securities excluded from the computation of diluted earnings per share	738	859
Restricted Stock Units (RSUs)
Denominator:
Antidilutive securities excluded from the computation of diluted earnings per share	1,732	1,444
Common Class A
Denominator:
Weighted-average shares of Class A common stock outstanding - basic	37,534,000	37,195,000
Weighted-average shares of Class A common stock outstanding - diluted	37,534,000	37,195,000
Loss per share of Class A common stock - basic	$ (0.22)	$ (0.52)
Loss per share of Class A common stock - diluted	$ (0.22)	$ (0.52)
CWGS, LLC | Common Units
Denominator:
Antidilutive securities excluded from the computation of diluted earnings per share	51,649	51,673

Segments Information - General

Segments Information - General Information (Details)	3 Months Ended
	Mar. 31, 2020segment
Segments Information
Number of reportable segments	2

Segments Information - Revenue

Segments Information - Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segments Information
Revenue	$ 1,027,273	$ 1,064,769
Intersegment Eliminations
Segments Information
Revenue	(5,512)	(10,812)
Good Sam Services and Plans
Segments Information
Revenue	47,208	46,966
Good Sam Services and Plans | Intersegment Eliminations
Segments Information
Revenue	(1,484)	(1,332)
New vehicles
Segments Information
Revenue	497,317	529,577
New vehicles | Intersegment Eliminations
Segments Information
Revenue	(1,079)	(1,172)
Used vehicles
Segments Information
Revenue	206,665	180,008
Used vehicles | Intersegment Eliminations
Segments Information
Revenue	(568)	(597)
Products, service and other
Segments Information
Revenue	172,623	204,876
Products, service and other | Intersegment Eliminations
Segments Information
Revenue	(389)	(5,322)
Finance and insurance, net
Segments Information
Revenue	92,456	91,891
Finance and insurance, net | Intersegment Eliminations
Segments Information
Revenue	(1,992)	(2,389)
Good Sam Club
Segments Information
Revenue	11,004	11,451
Good Sam Services and Plans | Operating Segments
Segments Information
Revenue	48,692	48,298
Good Sam Services and Plans | Good Sam Services and Plans | Operating Segments
Segments Information
Revenue	48,692	48,298
RV and Outdoor Retail
Segments Information
Revenue	980,065	1,017,803
RV and Outdoor Retail | Operating Segments
Segments Information
Revenue	984,093	1,027,283
RV and Outdoor Retail | New vehicles
Segments Information
Revenue	497,317	529,577
RV and Outdoor Retail | New vehicles | Operating Segments
Segments Information
Revenue	498,396	530,749
RV and Outdoor Retail | Used vehicles
Segments Information
Revenue	206,665	180,008
RV and Outdoor Retail | Used vehicles | Operating Segments
Segments Information
Revenue	207,233	180,605
RV and Outdoor Retail | Products, service and other
Segments Information
Revenue	172,623	204,876
RV and Outdoor Retail | Products, service and other | Operating Segments
Segments Information
Revenue	173,012	210,198
RV and Outdoor Retail | Finance and insurance, net
Segments Information
Revenue	92,456	91,891
RV and Outdoor Retail | Finance and insurance, net | Operating Segments
Segments Information
Revenue	94,448	94,280
RV and Outdoor Retail | Good Sam Club
Segments Information
Revenue	11,004	11,451
RV and Outdoor Retail | Good Sam Club | Operating Segments
Segments Information
Revenue	$ 11,004	$ 11,451

Segments Information - Segment

Segments Information - Segment Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segments Information
Total segment income	$ 13,265	$ 16,882
Selling, general, and administrative expense	(267,656)	(268,065)
Depreciation and amortization	(14,078)	(13,594)
Other interest expense, net	(14,658)	(17,643)
Tax Receivable Agreement liability adjustment		8,477
Loss before income taxes	(9,997)	(3,894)
Operating Segments
Segments Information
Total segment income	21,468	22,039
Other interest expense, net	(1,892)	(2,148)
Corporate, Non-Segment
Segments Information
Selling, general, and administrative expense	(2,729)	(3,173)
Other interest expense, net	(12,766)	(15,495)
Good Sam Services and Plans | Operating Segments
Segments Information
Total segment income	21,340	22,414
Depreciation and amortization	(756)	(852)
RV and Outdoor Retail | Operating Segments
Segments Information
Total segment income	128	(375)
Depreciation and amortization	(13,322)	(12,742)
Other interest expense, net	$ (1,892)	$ (2,148)

Segments Information - Deprecia

Segments Information - Depreciation and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segments Information
Depreciation and amortization	$ 14,078	$ 13,594
Good Sam Services and Plans | Operating Segments
Segments Information
Depreciation and amortization	756	852
RV and Outdoor Retail | Operating Segments
Segments Information
Depreciation and amortization	$ 13,322	$ 12,742

Segments Information - Other In

Segments Information - Other Interest Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segments Information
Other interest expense, net	$ 14,658	$ 17,643
Operating Segments
Segments Information
Other interest expense, net	1,892	2,148
Corporate, Non-Segment
Segments Information
Other interest expense, net	12,766	15,495
RV and Outdoor Retail | Operating Segments
Segments Information
Other interest expense, net	$ 1,892	$ 2,148

Segments Information - Assets (

Segments Information - Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Segments Information
Assets	$ 3,402,561	$ 3,376,240
Operating Segments
Segments Information
Assets	3,215,312	3,186,012
Corporate, Non-Segment
Segments Information
Assets	187,249	190,228
Good Sam Services and Plans | Operating Segments
Segments Information
Assets	102,087	138,360
RV and Outdoor Retail | Operating Segments
Segments Information
Assets	$ 3,113,225	$ 3,047,652