LCI Industries (LCII) 10-Q 6 Aug 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2019	Jul. 31, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-13646
Entity Registrant Name	LCI INDUSTRIES
Entity Central Index Key	0000763744
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3250533
Entity Address, Address Line One	3501 County Road 6 East
Entity Address, City or Town	Elkhart,
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46514
City Area Code	574
Local Phone Number	535-1125
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	LCII
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,026,086

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Net sales	$ 629,068	$ 684,455	$ 1,221,240	$ 1,334,947
Cost of sales	480,415	533,999	939,993	1,043,758
Gross profit	148,653	150,456	281,247	291,189
Selling, general and administrative expenses	82,996	86,368	167,835	167,281
Operating profit	65,657	64,088	113,412	123,908
Interest expense, net	2,099	1,660	4,606	2,761
Income before income taxes	63,558	62,428	108,806	121,147
Provision for income taxes	16,031	15,204	26,913	26,587
Net income	$ 47,527	$ 47,224	$ 81,893	$ 94,560
Net income per common share:
Basic (in usd per share)	$ 1.90	$ 1.87	$ 3.28	$ 3.75
Diluted (in usd per share)	$ 1.89	$ 1.86	$ 3.28	$ 3.70
Weighted average common shares outstanding:
Basic (in shares)	25,024	25,233	24,963	25,195
Diluted (in shares)	25,091	25,454	25,005	25,527

Condensed Consolidated Statem_2

Condensed Consolidated Statement Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 47,527	$ 47,224	$ 81,893	$ 94,560
Other comprehensive (loss) income:
Net foreign currency translation adjustment	(1,495)	(1,899)	(2,669)	(789)
Unrealized loss on fair value of derivative instruments	(1,888)	0	(2,042)	0
Total comprehensive income	$ 44,144	$ 45,325	$ 77,182	$ 93,771

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 15,128	$ 14,928
Restricted cash	45,532	0
Accounts receivable, net of allowances of $2,512 and $1,895 at June 30, 2019 and December 31, 2018, respectively	143,111	121,812
Inventories, net	301,159	340,615
Prepaid expenses and other current assets	33,168	49,296
Total current assets	538,098	526,651
Fixed assets, net	339,613	322,876
Goodwill	182,224	180,168
Other intangible assets, net	165,170	176,342
Operating lease right-of-use assets	62,898	0
Deferred taxes	9,219	10,948
Other assets	32,997	26,908
Total assets	1,330,219	1,243,893
Current liabilities
Accounts payable, trade	89,323	78,354
Current portion of operating lease obligations	14,141	0
Accrued expenses and other current liabilities	116,928	99,228
Total current liabilities	220,392	177,582
Long-term indebtedness	245,310	293,528
Operating lease obligations	51,408	0
Other long-term liabilities	60,233	66,528
Total liabilities	577,343	537,638
Stockholders’ equity
Common stock, par value $.01 per share	281	280
Paid-in capital	204,572	203,246
Retained earnings	613,501	563,496
Accumulated other comprehensive income	(7,316)	(2,605)
Stockholders’ equity before treasury stock	811,038	764,417
Treasury stock, at cost	(58,162)	(58,162)
Total stockholders’ equity	752,876	706,255
Total liabilities and stockholders’ equity	$ 1,330,219	$ 1,243,893

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 2,512	$ 1,895
Common stock, par value (in usd per share)	$ 0.01	$ 0.01

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 47,527	$ 34,366	$ 47,224	$ 47,336	$ 81,893	$ 94,560
Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation and amortization					37,115	32,476
Stock-based compensation expense					7,848	9,762
Other non-cash items					705	(927)
Changes in assets and liabilities, net of acquisitions of businesses:
Accounts receivable, net					(22,345)	(52,236)
Inventories, net					39,944	(14,556)
Prepaid expenses and other assets					11,444	(5,743)
Accounts payable, trade					11,567	5,412
Accrued expenses and other liabilities					11,944	10,181
Net cash flows provided by operating activities					180,115	78,929
Cash flows from investing activities:
Capital expenditures					(35,786)	(54,539)
Acquisitions of businesses, net of cash acquired					(8,530)	(153,415)
Proceeds from note receivable					0	2,000
Other investing activities					251	(1,016)
Net cash flows used in investing activities					(44,065)	(206,970)
Cash flows from financing activities:
Exercise of stock-based awards, net of shares tendered for payment of taxes					(7,144)	(14,114)
Proceeds from line of credit borrowings					305,288	631,148
Repayments under line of credit borrowings					(354,981)	(469,148)
Proceeds from other borrowings					0	4,509
Payment of dividends					(31,266)	(28,985)
Payment of contingent consideration related to acquisitions					(4)	(3,011)
Other financing activities					(393)	(556)
Net cash flows provided by (used in) financing activities					(88,500)	119,843
Effect of exchange rate changes on cash, cash equivalents, and restricted cash					(1,818)	0
Net decrease in cash and cash equivalents					45,732	(8,198)
Cash, cash equivalents, and restricted cash at beginning of period		$ 14,928		$ 26,049	14,928	26,049	$ 26,049
Cash, cash equivalents, and restricted cash at end of period	$ 60,660		$ 17,851		60,660	17,851	$ 14,928
Supplemental disclosure of cash flow information:
Cash paid during the period for interest					3,948	2,582
Cash paid during the period for income taxes, net of refunds					13,890	24,907
Purchase of property and equipment in accrued expenses					$ 298	$ 664

Condensed Consolidated Statem_4

Condensed Consolidated Statement Of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning balance at Dec. 31, 2017	$ 652,745	$ 277	$ 203,990	$ 475,506	$ 2,439	$ (29,467)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47,336			47,336
Issuance of shares of common stock pursuant to stock-based awards, net of shares tendered for payment of taxes	(14,085)	2	(14,087)
Stock-based compensation expense	5,543		5,543
Other comprehensive income (loss)					1,110
Cash dividends	(13,858)			(13,858)
Dividend equivalents on stock-based awards	0		319	(319)
Ending balance at Mar. 31, 2018	678,791	279	195,765	508,665	3,549	(29,467)
Beginning balance at Dec. 31, 2017	652,745	277	203,990	475,506	2,439	(29,467)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	94,560
Ending balance at Jun. 30, 2018	713,179	279	200,306	540,411	1,650	(29,467)
Beginning balance at Mar. 31, 2018	678,791	279	195,765	508,665	3,549	(29,467)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47,224			47,224
Issuance of shares of common stock pursuant to stock-based awards, net of shares tendered for payment of taxes	(29)		(29)
Stock-based compensation expense	4,219		4,219
Other comprehensive income (loss)	(1,899)				(1,899)
Cash dividends	(15,127)			(15,127)
Dividend equivalents on stock-based awards	0		351	(351)
Ending balance at Jun. 30, 2018	713,179	279	200,306	540,411	1,650	(29,467)
Beginning balance at Dec. 31, 2018	706,255	280	203,246	563,496	(2,605)	(58,162)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	34,366			34,366
Issuance of shares of common stock pursuant to stock-based awards, net of shares tendered for payment of taxes	(6,348)	1	(6,349)
Stock-based compensation expense	3,733		3,733
Other comprehensive income (loss)	(1,328)				(1,328)
Cash dividends	(14,999)			(14,999)
Dividend equivalents on stock-based awards	0		304	(304)
Ending balance at Mar. 31, 2019	721,679	281	200,934	582,559	(3,933)	(58,162)
Beginning balance at Dec. 31, 2018	706,255	280	203,246	563,496	(2,605)	(58,162)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	81,893
Ending balance at Jun. 30, 2019	752,876	281	204,572	613,501	(7,316)	(58,162)
Beginning balance at Mar. 31, 2019	721,679	281	200,934	582,559	(3,933)	(58,162)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47,527			47,527
Issuance of shares of common stock pursuant to stock-based awards, net of shares tendered for payment of taxes	(795)		(795)
Stock-based compensation expense	4,115		4,115
Other comprehensive income (loss)	(3,383)				(3,383)
Cash dividends	(16,267)			(16,267)
Dividend equivalents on stock-based awards	0		318	(318)
Ending balance at Jun. 30, 2019	$ 752,876	$ 281	$ 204,572	$ 613,501	$ (7,316)	$ (58,162)

Condensed Consolidated Statem_5

Condensed Consolidated Statement Of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Issuance of common stock (in shares)	27,965	137,040	2,419	223,768
Cash dividend (in usd per share)	$ 0.65	$ 0.60	$ 0.60	$ 0.55

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation	BASIS OF PRESENTATION The Condensed Consolidated Financial Statements include the accounts of LCI Industries and its wholly-owned subsidiaries (“LCII” and collectively with its subsidiaries, the “Company”). LCII has no unconsolidated subsidiaries. LCII, through its wholly-owned subsidiary, Lippert Components, Inc. and its subsidiaries (collectively, “Lippert Components” or “LCI”), supplies, domestically and internationally, a broad array of engineered components for the leading original equipment manufacturers (“OEMs”) in the recreation and industrial product markets, consisting of recreational vehicles (“RVs”) and adjacent industries including buses; trailers used to haul boats, livestock, equipment and other cargo; trucks; boats; trains; manufactured homes; and modular housing. The Company also supplies engineered components to the related aftermarkets of these industries, primarily by selling to retail dealers, wholesale distributors and service centers. At June 30, 2019, the Company operated over 65 manufacturing and distribution facilities located throughout the United States and in Canada, Ireland, Italy and the United Kingdom. Most industries where the Company sells products or where its products are used historically have been seasonal and are generally at the highest levels when the weather is moderate. Accordingly, the Company’s sales and profits have generally been the highest in the second quarter and lowest in the fourth quarter. However, because of fluctuations in dealer inventories, the impact of international, national and regional economic conditions and consumer confidence on retail sales of RVs and other products for which the Company sells its components, the timing of dealer orders, and the impact of severe weather conditions on the timing of industry-wide shipments from time to time, current and future seasonal industry trends may be different than in prior years. Additionally, sales of certain engineered components to the aftermarket channels of these industries tend to be counter-seasonal. The Company is not aware of any significant events, except as disclosed in the Notes to Condensed Consolidated Financial Statements, which occurred subsequent to the balance sheet date but prior to the filing of this report that would have a material impact on the Condensed Consolidated Financial Statements. In the opinion of management, the information furnished in this Form 10-Q reflects all adjustments necessary for a fair statement of the financial position and results of operations for the interim periods presented. The Condensed Consolidated Financial Statements have been prepared in accordance with the instructions to Form 10-Q, and therefore do not include some information necessary to conform to annual reporting requirements. Results for interim periods should not be considered indicative of results for the full year. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, net sales and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to product returns, sales and purchase rebates, accounts receivable, inventories, goodwill and other intangible assets, net assets of acquired businesses, income taxes, warranty and product recall obligations, self-insurance obligations, operating lease right-of-use assets and obligations, asset retirement obligations, long-lived assets, post-retirement benefits, stock-based compensation, segment allocations, contingent consideration, environmental liabilities, contingencies and litigation. The Company bases its estimates on historical experience, other available information and various other assumptions believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities not readily apparent from other resources. Actual results and events could differ significantly from management estimates.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Condensed Consolidated Financial Statements presented herein have been prepared by the Company in accordance with the accounting policies described in its December 31, 2018 Annual Report on Form 10-K and should be read in conjunction with the Notes to Consolidated Financial Statements which appear in that report. All significant intercompany balances and transactions have been eliminated. Restricted Cash Restricted cash represents the Company's funds held in an escrow account designated for the acquisition of Lewmar Marine Limited (see Note 3). The following table provides a reconciliation of cash, cash equivalents, and restricted cash as reported in the Condensed Consolidated Balance Sheets that aggregates to the amounts presented in the Condensed Consolidated Statements of Cash Flows. June 30, (In thousands) 2019 2018 Cash and cash equivalents $ 15,128 $ 17,851 Restricted cash 45,532 — Cash, cash equivalents, and restricted cash at end of period $ 60,660 $ 17,851 Recent Accounting Pronouncements Recently issued accounting pronouncements not yet adopted In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-04, Simplifying the Test for Goodwill Impairment, which amends Accounting Standards Codification (“ASC”) 350, Intangibles - Goodwill and Other. This ASU simplifies how an entity is required to test goodwill for impairment by eliminating step 2 from the goodwill impairment test. Step 2 measures goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. This ASU is effective for interim and annual reporting periods, beginning after December 15, 2019, and early adoption is permitted. The Company will adopt this guidance in the first quarter of 2020 and does not expect the adoption of this ASU to have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. This ASU is effective for interim and annual reporting periods, beginning after December 15, 2019, and early adoption is permitted. The Company will adopt this guidance in the first quarter of 2020 and is currently assessing the impact of this ASU on its consolidated financial statements. Recently adopted accounting pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires, in most instances, a lessee to recognize on its balance sheet a liability to make lease payments (the lease liability) and also a right-of-use asset representing its right to use the underlying asset for the lease term. Leases are classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. The Company adopted Topic 842 on January 1, 2019, using the cumulative-effect adjustment transition method, which applies the new standard at the effective date without adjusting the comparative periods presented. The Company elected the package of practical expedients permitted under the transition guidance, which allowed the carryforward of historical lease classification, the assessment of whether a contract is or contains a lease, and initial direct costs for any leases that existed prior to adoption of the new standard. The Company also elected to keep leases with an initial term of 12 months or less off its Condensed Consolidated Balance Sheet and recognize the associated lease payments in its Condensed Consolidated Statements of Income on a straight-line basis over the lease term. The adoption of Topic 842 resulted in the recognition of right-of-use assets of $66.4 million and operating lease obligations of $69.0 million at January 1, 2019. The adoption did not result in a cumulative effect adjustment to beginning

Acquisitions, Goodwill And Othe

Acquisitions, Goodwill And Other Intangible Assets	6 Months Ended
	Jun. 30, 2019
Acquisitions, Goodwill And Other Intangible Assets [Abstract]
Goodwill And Other Intangible Assets	ACQUISITIONS, GOODWILL AND OTHER INTANGIBLE ASSETS Subsequent Event Lewmar Marine Limited In August 2019, the Company acquired 100 percent of the equity interests of Lewmar Marine Limited, a supplier of leisure marine equipment, headquartered in Havant, United Kingdom. The purchase price was $43.5 million and is subject to potential post-closing adjustments related to net working capital. The results of the acquired business will be included primarily in the Company’s OEM Segment. The Company is in the process of determining the fair value of the opening balance sheet, and will disclose the allocation of the purchase price in its Quarterly Report on Form 10-Q for the third quarter 2019. Acquisitions Completed During the Six Months Ended June 30, 2019 Lavet S.r.l. In June 2019, the Company acquired 100 percent of the equity interests of Lavet S.r.l. (“Lavet”), a manufacturer of window blind systems for European leisure vehicles, headquartered in Siena, Italy. The purchase price was $2.0 million, net of cash acquired, paid at closing, and is subject to potential post-closing adjustments related to net working capital. The results of the acquired business have been included primarily in the Company’s OEM Segment and in the Consolidated Statements of Income since the acquisition date. Based on the timing of the transaction, the accounting for the Lavet business combination is incomplete. The estimated fair value of assets acquired and liabilities assumed will be allocated accordingly during the measurement period which will not exceed 12 months from the acquisition date. As the acquisition of Lavet is not considered to have a material impact on the Company’s financial statements, proforma results of operations, and other disclosures are not presented. Femto Engineering S.r.l. In June 2019, the Company acquired 100 percent of the equity interests of Femto Engineering S.r.l. and related entities (collectively, “Femto”), an engineering company with focus on designing and manufacturing of plastic moldings, headquartered in San Casciano, Italy. The purchase price was $6.5 million, net of cash acquired, paid at closing, and is subject to potential post-closing adjustments related to net working capital. The results of the acquired business have been included primarily in the Company’s OEM Segment and in the Consolidated Statements of Income since the acquisition date. Based on the timing of the transaction, the accounting for the Femto business combination is incomplete. The purchase price was preliminarily recorded in goodwill with allocations to the acquired real estate and assumed debt on the real estate at June 30, 2019. The estimated fair value of other assets acquired and liabilities assumed will be allocated accordingly during the measurement period which will not exceed 12 months from the acquisition date. As the acquisition of Femto is not considered to have a material impact on the Company’s financial statements, proforma results of operations, and other disclosures are not presented. Acquisitions Completed During the Year Ended December 31, 2018 Smoker Craft Furniture In November 2018, the Company acquired the business and certain assets of the furniture manufacturing operation of Smoker Craft Inc., a leading pontoon, aluminum fishing, and fiberglass boat manufacturer located in New Paris, Indiana. The purchase price was $28.1 million paid at closing. The results of the acquired business have been included primarily in the Company’s OEM Segment and in the Consolidated Statements of Income since the acquisition date. The Company is validating account balances and finalizing the valuation for the acquisition. The acquisition of this business was preliminarily recorded on the acquisition date as follows (in thousands) : Cash consideration $ 28,091 Customer relationship and other identifiable intangible assets $ 16,730 Net tangible assets 1,357 Total fair value of net assets acquired $ 18,087 Goodwill (tax deductible) $ 10,004 The customer relationship intangible asset is being amortized over its estimated useful life of 15 years. The consideration given was greater than the fair value of the net assets acquired, resulting in goodwill, because the Company anticipates the attainment of synergies and an increase in the markets for the acquired products. ST.LA. S.r.l. In June 2018, the Company acquired 100 percent of the equity interests of ST.LA. S.r.l., a manufacturer of bed lifts and other RV components for the European caravan market, headquartered in Pontedera, Italy. The purchase price was $14.6 million, net of cash acquired, paid at closing. The results of the acquired business have been included primarily in the Company’s OEM Segment and in the Consolidated Statements of Income since the acquisition date. The acquisition of this business was recorded as of the acquisition date as follows (in thousands) : Cash consideration, net of cash acquired $ 14,845 Customer relationships and other identifiable intangible assets $ 6,354 Net tangible assets 4,099 Total fair value of net assets acquired $ 10,453 Goodwill (not tax deductible) $ 4,392 The customer relationships intangible asset is being amortized over its estimated useful life of 15 years. The consideration given was greater than the fair value of the net assets acquired, resulting in goodwill, because the Company anticipates the attainment of synergies and an increase in the markets for the acquired products. Goodwill Goodwill by reportable segment was as follows: (In thousands) OEM Segment Aftermarket Segment Total Net balance – December 31, 2018 $ 160,257 $ 19,911 $ 180,168 Acquisitions – 2019 4,791 — 4,791 Other (2,635) (100) (2,735) Net balance – June 30, 2019 $ 162,413 $ 19,811 $ 182,224 Goodwill represents the excess of the total consideration given in an acquisition of a business over the fair value of the net tangible and identifiable intangible assets acquired. Goodwill is not amortized, but instead is tested at the reporting unit level for impairment annually in November, or more frequently if certain circumstances indicate a possible impairment may exist. Any change in the goodwill amounts resulting from foreign currency translations and purchase accounting adjustments are presented as “Other” in the above table. Other Intangible Assets Other intangible assets consisted of the following at June 30, 2019: (In thousands) Gross Accumulated Net Estimated Useful Customer relationships $ 191,709 $ 61,022 $ 130,687 6 to 16 Patents 57,975 42,022 15,953 3 to 19 Trade names (finite life) 10,310 6,106 4,204 3 to 15 Trade names (indefinite life) 7,600 — 7,600 Indefinite Non-compete agreements 6,428 4,541 1,887 3 to 6 Other 309 157 152 2 to 12 Purchased research and development 4,687 — 4,687 Indefinite Other intangible assets $ 279,018 $ 113,848 $ 165,170 Other intangible assets consisted of the following at December 31, 2018: (In thousands) Gross Accumulated Net Estimated Useful Customer relationships $ 191,919 $ 54,889 $ 137,030 6 to 16 Patents 58,787 40,079 18,708 3 to 19 Trade names (finite life) 10,885 5,507 5,378 3 to 15 Trade names (indefinite life) 7,600 — 7,600 Indefinite Non-compete agreements 6,919 4,148 2,771 3 to 6 Other 309 141 168 2 to 12 Purchased research and development 4,687 — 4,687 Indefinite Other intangible assets $ 281,106 $ 104,764 $ 176,342
Acquisitions	ACQUISITIONS, GOODWILL AND OTHER INTANGIBLE ASSETS Subsequent Event Lewmar Marine Limited In August 2019, the Company acquired 100 percent of the equity interests of Lewmar Marine Limited, a supplier of leisure marine equipment, headquartered in Havant, United Kingdom. The purchase price was $43.5 million and is subject to potential post-closing adjustments related to net working capital. The results of the acquired business will be included primarily in the Company’s OEM Segment. The Company is in the process of determining the fair value of the opening balance sheet, and will disclose the allocation of the purchase price in its Quarterly Report on Form 10-Q for the third quarter 2019. Acquisitions Completed During the Six Months Ended June 30, 2019 Lavet S.r.l. In June 2019, the Company acquired 100 percent of the equity interests of Lavet S.r.l. (“Lavet”), a manufacturer of window blind systems for European leisure vehicles, headquartered in Siena, Italy. The purchase price was $2.0 million, net of cash acquired, paid at closing, and is subject to potential post-closing adjustments related to net working capital. The results of the acquired business have been included primarily in the Company’s OEM Segment and in the Consolidated Statements of Income since the acquisition date. Based on the timing of the transaction, the accounting for the Lavet business combination is incomplete. The estimated fair value of assets acquired and liabilities assumed will be allocated accordingly during the measurement period which will not exceed 12 months from the acquisition date. As the acquisition of Lavet is not considered to have a material impact on the Company’s financial statements, proforma results of operations, and other disclosures are not presented. Femto Engineering S.r.l. In June 2019, the Company acquired 100 percent of the equity interests of Femto Engineering S.r.l. and related entities (collectively, “Femto”), an engineering company with focus on designing and manufacturing of plastic moldings, headquartered in San Casciano, Italy. The purchase price was $6.5 million, net of cash acquired, paid at closing, and is subject to potential post-closing adjustments related to net working capital. The results of the acquired business have been included primarily in the Company’s OEM Segment and in the Consolidated Statements of Income since the acquisition date. Based on the timing of the transaction, the accounting for the Femto business combination is incomplete. The purchase price was preliminarily recorded in goodwill with allocations to the acquired real estate and assumed debt on the real estate at June 30, 2019. The estimated fair value of other assets acquired and liabilities assumed will be allocated accordingly during the measurement period which will not exceed 12 months from the acquisition date. As the acquisition of Femto is not considered to have a material impact on the Company’s financial statements, proforma results of operations, and other disclosures are not presented. Acquisitions Completed During the Year Ended December 31, 2018 Smoker Craft Furniture In November 2018, the Company acquired the business and certain assets of the furniture manufacturing operation of Smoker Craft Inc., a leading pontoon, aluminum fishing, and fiberglass boat manufacturer located in New Paris, Indiana. The purchase price was $28.1 million paid at closing. The results of the acquired business have been included primarily in the Company’s OEM Segment and in the Consolidated Statements of Income since the acquisition date. The Company is validating account balances and finalizing the valuation for the acquisition. The acquisition of this business was preliminarily recorded on the acquisition date as follows (in thousands) : Cash consideration $ 28,091 Customer relationship and other identifiable intangible assets $ 16,730 Net tangible assets 1,357 Total fair value of net assets acquired $ 18,087 Goodwill (tax deductible) $ 10,004 The customer relationship intangible asset is being amortized over its estimated useful life of 15 years. The consideration given was greater than the fair value of the net assets acquired, resulting in goodwill, because the Company anticipates the attainment of synergies and an increase in the markets for the acquired products. ST.LA. S.r.l. In June 2018, the Company acquired 100 percent of the equity interests of ST.LA. S.r.l., a manufacturer of bed lifts and other RV components for the European caravan market, headquartered in Pontedera, Italy. The purchase price was $14.6 million, net of cash acquired, paid at closing. The results of the acquired business have been included primarily in the Company’s OEM Segment and in the Consolidated Statements of Income since the acquisition date. The acquisition of this business was recorded as of the acquisition date as follows (in thousands) : Cash consideration, net of cash acquired $ 14,845 Customer relationships and other identifiable intangible assets $ 6,354 Net tangible assets 4,099 Total fair value of net assets acquired $ 10,453 Goodwill (not tax deductible) $ 4,392 The customer relationships intangible asset is being amortized over its estimated useful life of 15 years. The consideration given was greater than the fair value of the net assets acquired, resulting in goodwill, because the Company anticipates the attainment of synergies and an increase in the markets for the acquired products. Goodwill Goodwill by reportable segment was as follows: (In thousands) OEM Segment Aftermarket Segment Total Net balance – December 31, 2018 $ 160,257 $ 19,911 $ 180,168 Acquisitions – 2019 4,791 — 4,791 Other (2,635) (100) (2,735) Net balance – June 30, 2019 $ 162,413 $ 19,811 $ 182,224 Goodwill represents the excess of the total consideration given in an acquisition of a business over the fair value of the net tangible and identifiable intangible assets acquired. Goodwill is not amortized, but instead is tested at the reporting unit level for impairment annually in November, or more frequently if certain circumstances indicate a possible impairment may exist. Any change in the goodwill amounts resulting from foreign currency translations and purchase accounting adjustments are presented as “Other” in the above table. Other Intangible Assets Other intangible assets consisted of the following at June 30, 2019: (In thousands) Gross Accumulated Net Estimated Useful Customer relationships $ 191,709 $ 61,022 $ 130,687 6 to 16 Patents 57,975 42,022 15,953 3 to 19 Trade names (finite life) 10,310 6,106 4,204 3 to 15 Trade names (indefinite life) 7,600 — 7,600 Indefinite Non-compete agreements 6,428 4,541 1,887 3 to 6 Other 309 157 152 2 to 12 Purchased research and development 4,687 — 4,687 Indefinite Other intangible assets $ 279,018 $ 113,848 $ 165,170 Other intangible assets consisted of the following at December 31, 2018: (In thousands) Gross Accumulated Net Estimated Useful Customer relationships $ 191,919 $ 54,889 $ 137,030 6 to 16 Patents 58,787 40,079 18,708 3 to 19 Trade names (finite life) 10,885 5,507 5,378 3 to 15 Trade names (indefinite life) 7,600 — 7,600 Indefinite Non-compete agreements 6,919 4,148 2,771 3 to 6 Other 309 141 168 2 to 12 Purchased research and development 4,687 — 4,687 Indefinite Other intangible assets $ 281,106 $ 104,764 $ 176,342

Inventories

Inventories	6 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories are stated at the lower of cost (first-in, first-out (FIFO) method) or net realizable value. Cost includes material, labor and overhead. Inventories consisted of the following at: June 30, December 31, (In thousands) 2019 2018 Raw materials $ 246,504 $ 284,467 Work in process 11,529 12,291 Finished goods 43,126 43,857 Inventories, net $ 301,159 $ 340,615

Fixed Assets

Fixed Assets	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Fixed Assets	FIXED ASSETS Fixed assets consisted of the following at: June 30, December 31, (In thousands) 2019 2018 Fixed assets, at cost $ 599,781 $ 559,234 Less accumulated depreciation and amortization 260,168 236,358 Fixed assets, net $ 339,613 $ 322,876

Accrued Expenses And Other Curr

Accrued Expenses And Other Current Liabilities	6 Months Ended
	Jun. 30, 2019
Payables and Accruals [Abstract]
Accrued Expenses And Other Current Liabilities	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consisted of the following at: June 30, December 31, (In thousands) 2019 2018 Employee compensation and benefits $ 36,214 $ 33,835 Current portion of accrued warranty 36,760 32,180 Other 43,954 33,213 Accrued expenses and other current liabilities $ 116,928 $ 99,228 Estimated costs related to product warranties are accrued at the time products are sold. In estimating its future warranty obligations, the Company considers various factors, including the Company’s (i) historical warranty costs, (ii) current trends, (iii) product mix, and (iv) sales. The following table provides a reconciliation of the activity related to the Company’s accrued warranty, including both the current and long-term portions, for the six months ended June 30, 2019: (In thousands) Balance at beginning of period $ 46,530 Provision for warranty expense 19,958 Warranty costs paid (14,588) Balance at end of period 51,900 Less long-term portion 15,140 Current portion of accrued warranty at end of period $ 36,760

Long-Term Indebtedness

Long-Term Indebtedness	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Long-Term Indebtedness	LONG-TERM INDEBTEDNESS Long-term indebtedness consisted of the following at: June 30, December 31, (In thousands) 2019 2018 Revolving Credit Facility $ 190,600 $ 240,060 Shelf-Loan Facility 50,000 50,000 Other 5,651 4,425 Unamortized deferred financing fees (328) (361) 245,923 294,124 Less current portion (613) (596) Long-term indebtedness $ 245,310 $ 293,528 On December 14, 2018, the Company refinanced its credit agreement with JPMorgan Chase, N.A., Wells Fargo Bank, N.A., Bank of America, N.A., and other bank lenders (the “Amended Credit Agreement”). The Amended Credit Agreement amended and restated an existing credit agreement dated April 27, 2016 and now expires on December 14, 2023. The Amended Credit Agreement increased the revolving credit facility from $325.0 million to $600.0 million, and permits the Company to borrow up to $250.0 million in approved foreign currencies, including Australian dollars, Canadian dollars, pounds sterling and euros ($45.6 million, or €40.0 million drawn at June 30, 2019). The maximum borrowings under the credit facility may be further increased by $300.0 million in additional revolving loans or incremental term loans, subject to the consent of the lenders providing such incremental facilities and certain other conditions. Interest on borrowings under the revolving credit facility is designated from time to time by the Company as either (i) the Alternate Base Rate (defined in the Amended Credit Agreement as the greatest of (a) the Prime Rate of JPMorgan Chase Bank, N.A., (b) the federal funds effective rate plus 0.5 percent and (c) the Adjusted LIBO Rate (as defined in the Amended Credit Agreement) for a one month interest period plus 1.0 percent), plus additional interest ranging from 0.0 percent to 0.625 percent (0.0 percent at June 30, 2019) depending on the Company’s total net leverage ratio, or (ii) the Adjusted LIBO Rate for a period equal to one, two, three, six or twelve months (with the consent of each lender) as selected by the Company, plus additional interest ranging from 0.875 percent to 1.625 percent (0.875 percent at June 30, 2019) depending on the Company’s total net leverage ratio. At June 30, 2019, the Company had $2.5 million in issued, but undrawn, standby letters of credit under the revolving credit facility. Availability under the Company’s revolving credit facility was $406.9 million at June 30, 2019. On February 24, 2014, the Company entered into a $150.0 million shelf-loan facility (as amended, the “Shelf-Loan Facility”) with PGIM, Inc. (formerly Prudential Investment Management, Inc.) and its affiliates (“Prudential”). On March 20, 2015, the Company issued $50.0 million of Senior Promissory Notes (“Series A Notes”) to Prudential for a term of five The Shelf-Loan Facility provides for Prudential to consider purchasing, at the Company’s request, in one or a series of transactions, Senior Promissory Notes of the Company in the aggregate principal amount of up to $150.0 million (excluding the Company’s Series B Notes already outstanding). Prudential has no obligation to purchase the Senior Promissory Notes. Interest payable on the Senior Promissory Notes will be at rates determined by Prudential within five business days after the Company issues a request to Prudential. Borrowings under both the Amended Credit Agreement and the Shelf-Loan Facility are secured on a pari-passu basis by first priority liens on the capital stock or other equity interests of the Company’s direct and indirect subsidiaries (including up to 65 percent of the equity interest of certain “controlled foreign corporations”). Pursuant to the Amended Credit Agreement and Shelf-Loan Facility, the Company shall not permit its net leverage ratio to exceed certain limits, shall maintain minimum debt service coverage ratio and must meet certain other financial requirements. At June 30, 2019, the Company was in compliance with all such requirements, and expects to remain in compliance for the next twelve months. Availability under the Amended Credit Agreement and the Shelf-Loan Facility is subject to a maximum net leverage ratio covenant which limits the amount of consolidated outstanding indebtedness on a trailing twelve-month EBITDA, as defined. This limitation did not impact the Company’s borrowing availability at June 30, 2019. The remaining availability under these facilities was $556.9 million at June 30, 2019. The Company believes the availability under the Amended Credit Agreement and Shelf-Loan Facility is adequate to finance the Company’s anticipated cash requirements for the next twelve months.

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	LEASES The Company leases certain manufacturing and warehouse facilities, administrative office space, semi-tractors, trailers, forklifts, and other equipment through operating leases with unrelated third parties. The operating leases have remaining terms of up to 12 years and some leases include options to purchase, terminate or extend for one or more years. The options are included in the lease term when it is reasonably certain that the option will be exercised. Leases with an initial term of 12 months or less are recognized in lease expense on a straight-line basis over the lease term and not recorded on the Condensed Consolidated Balance Sheet. The Company uses its incremental borrowing rate based on information available at lease inception in determining the present value of the lease payments. The Company applies a portfolio approach for determining the incremental borrowing rate based on applicable lease terms and the current economic environment. Certain of the Company’s lease arrangements contain lease components (such as minimum rent payments) and non-lease components (such as common-area or other maintenance costs and taxes). The Company generally accounts for each component separately based on the estimated standalone price of each component. Some of the Company’s lease arrangements include rental payments that are adjusted periodically for an index rate. These leases are initially measured using the projected payments in effect at the inception of the lease. Certain of the Company’s leased semi-tractors, trailers and forklifts include variable costs for usage or mileage. Such variable costs are expensed as incurred and included in the variable lease cost item noted in the table below. The Company’s lease agreements do not contain any significant residual value guarantees or restrictive covenants. The components of lease cost for the periods ended June 30, 2019 were as follows: (in thousands) Three Months Ended Six Months Ended Operating lease cost $ 5,873 $ 10,782 Short-term lease cost 676 1,474 Variable lease cost 424 830 Total lease cost $ 6,973 $ 13,086 Future minimum lease payments under operating leases as of June 30, 2019 were as follows: (in thousands) Year Ending December 31, 2019 (excluding the six months ended June 30, 2019) $ 9,388 2020 15,729 2021 13,032 2022 9,465 2023 6,748 Thereafter 25,491 Total future minimum lease payments (a) 79,853 Less: Interest (14,304) Present value of operating lease liabilities $ 65,549 (a) Refer to the Company’s Annual Report on Form 10-K for disclosure of future minimum lease payments at December 31, 2018 under ASC Topic 840, the accounting standard applicable to leases prior to the adoption of Topic 842. At June 30, 2019, the Company’s operating leases had a weighted-average remaining lease term of 6.7 years and a weighted-average discount rate of 5.7 percent. Cash Flows The initial right-of-use assets of $66.4 million were recognized as non-cash asset additions upon adoption of Topic 842. Additional right-of use assets of $4.3 million were recognized as non-cash asset additions that resulted from new operating lease obligations during the six months ended June 30, 2019. Cash paid for amounts included in the present value of operating lease obligations and included in cash flows from operations was $10.6 million for the six months ended June 30, 2019. Finance Leases The Company has various leases classified as finance leases, which are included in fixed assets, net and long-term indebtedness on the Condensed Consolidated Balance Sheets. These leases are not material to the Condensed Consolidated Financial Statements as of June 30, 2019. Lessor

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	COMMITMENTS AND CONTINGENCIES Contingent Consideration In connection with several business acquisitions, if certain sales targets for the acquired products are achieved, the Company would pay additional cash consideration. The Company has recorded a liability for the fair value of this contingent consideration at June 30, 2019, based on the present value of the expected future cash flows using a market participant’s weighted average cost of capital of 11.7 percent. As required, the liability for this contingent consideration is measured at fair value quarterly, considering actual sales of the acquired products, updated sales projections and the updated market participant weighted average cost of capital. Depending upon the weighted average costs of capital and future sales of the products which are subject to contingent consideration, the Company could record adjustments in future periods. The following table provides a reconciliation of the Company’s contingent consideration liability for the six months ended June 30, 2019: (In thousands) Balance at beginning of period $ 7,302 Payments (4) Accretion (a) 409 Net foreign currency translation adjustment 15 Balance at end of the period (b) 7,722 Less current portion in accrued expenses and other current liabilities (5,624) Total long-term portion in other long-term liabilities $ 2,098 (a) Recorded in selling, general and administrative expenses in the Condensed Consolidated Statements of Income. (b) Amounts represent the fair value of estimated remaining payments. The total estimated remaining undiscounted payments as of June 30, 2019 were $9.1 million. The liability for contingent consideration expires at various dates through September 2029. Certain of the contingent consideration arrangements are subject to a maximum payment amount, while the remaining arrangements have no maximum contingent consideration. Furrion Distribution and Supply Agreement In July 2015, the Company entered into a six In connection with this agreement, the Company entered into minimum purchase obligations (“MPOs”), which Furrion and the Company agreed to review after the first year on an annual basis and adjust as necessary based upon current economic and industry conditions, the development and customer acceptance of new Furrion products, competition and other factors which impact demand for Furrion products. Subject to agreed upon revisions to the MPOs, Furrion has the right to either terminate the distribution agreement with six months’ notice or remove exclusivity from the Company if the Company misses an MPO in any given year by more than ten percent, after taking into account excess purchases from the previous year. If exclusivity is withdrawn, the Company at its election may terminate the distribution agreement with six months’ notice. Upon termination of the agreement, Furrion has agreed to purchase from the Company any non-obsolete stocks of Furrion products at the cost paid by the Company. Product Recalls From time to time, the Company cooperates with and assists its customers on their product recalls and inquiries, and occasionally receives inquiries directly from the National Highway Traffic Safety Administration regarding reported incidents involving the Company’s products. As a result, the Company has incurred expenses associated with product recalls from time to time, and may incur expenditures for future investigations or product recalls. Environmental The Company’s operations are subject to certain Federal, state and local regulatory requirements relating to the use, storage, discharge and disposal of hazardous materials used during the manufacturing processes. Although the Company believes its operations have been consistent with prevailing industry standards, and are in substantial compliance with applicable environmental laws and regulations, one or more of the Company’s current or former operating sites, or adjacent sites owned by third-parties, have been affected, and may in the future be affected, by releases of hazardous materials. As a result, the Company may incur expenditures for future investigation and remediation of these sites, including in conjunction with voluntary remediation programs or third-party claims. Litigation In the normal course of business, the Company is subject to proceedings, lawsuits, regulatory agency inquiries and other claims. All such matters are subject to uncertainties and outcomes that are not predictable with assurance. While these matters could materially affect operating results when resolved in future periods, management believes that, after final disposition, including anticipated insurance recoveries in certain cases, any monetary liability or financial impact to the Company beyond that provided in the Condensed Consolidated Balance Sheet as of June 30, 2019, would not be material to the Company’s financial position or annual results of operations.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2019
Stockholders' Equity Note [Abstract]
Stockholders' Equity	STOCKHOLDERS’ EQUITY The following table summarizes information about shares of the Company’s common stock at: June 30, December 31, (In thousands) 2019 2018 Common stock authorized 75,000 75,000 Common stock issued 28,113 27,948 Treasury stock 3,087 3,087 The following reconciliation details the denominator used in the computation of basic and diluted earnings per share for the periods: Three Months Ended Six Months Ended (In thousands) 2019 2018 2019 2018 Weighted average shares outstanding for basic earnings per share 25,024 25,233 24,963 25,195 Common stock equivalents pertaining to stock-based awards 67 221 42 332 Weighted average shares outstanding for diluted earnings per share 25,091 25,454 25,005 25,527 Equity instruments excluded from diluted net earnings per share calculation as the effect would have been anti-dilutive 122 464 122 463 The table below summarizes the regular quarterly dividends declared and paid during the periods ended June 30, 2019 and December 31, 2018: (In thousands, except per share data) Per Share Record Date Payment Date Total Paid First Quarter 2018 $ 0.55 03/16/18 03/29/18 $ 13,858 Second Quarter 2018 0.60 06/04/18 06/15/18 15,127 Third Quarter 2018 0.60 08/31/18 09/14/18 15,129 Fourth Quarter 2018 0.60 11/26/18 12/07/18 15,156 Total 2018 $ 2.35 $ 59,270 First Quarter 2019 $ 0.60 03/08/19 03/22/19 $ 14,999 Second Quarter 2019 0.65 06/07/19 06/21/19 16,267 Total 2019 $ 1.25 $ 31,266 Deferred and Restricted Stock Units The LCI Industries 2018 Omnibus Incentive Plan (“the 2018 Plan”) provides for the grant or issuance of stock units, including those that have deferral periods, such as deferred stock units (“DSUs”), and those with time-based vesting provisions, such as restricted stock units (“RSUs”), to directors, employees and other eligible persons. Recipients of DSUs and RSUs are entitled to receive shares at the end of a specified vesting or deferral period. Holders of DSUs and RSUs receive dividend equivalents based on dividends granted to holders of the common stock, which dividend equivalents are payable in additional DSUs and RSUs, and are subject to the same vesting criteria as the original grant. DSUs vest (i) ratably over the service period, (ii) at a specified future date, or (iii) for certain officers, based on achievement of specified performance conditions. RSUs vest (i) ratably over the service period or (ii) at a specified future date. In addition, DSUs are issued in lieu of certain cash compensation. Transactions in DSUs and RSUs under the LCI Industries Equity Award and Incentive Plan, as Amended and Restated (“the 2011 Plan”) or the 2018 Plan, as applicable, are summarized as follows: Number of Shares Weighted Average Price Outstanding at December 31, 2018 264,406 $ 83.84 Issued 3,436 82.84 Granted 248,043 80.89 Dividend equivalents 5,642 81.42 Forfeited (6,175) 91.37 Vested (148,538) 74.58 Outstanding at June 30, 2019 366,814 $ 84.45 Stock Awards and Performance Stock Units The 2011 Plan provides for stock awards and the 2018 Plan provides for performance stock units (“PSUs”) that vest at a specific future date based on achievement of specified performance conditions. Transactions in performance-based stock awards and PSUs under the 2011 Plan or the 2018 Plan, as applicable, are summarized as follows: Number of Shares Weighted Average Price Outstanding at December 31, 2018 187,368 $ 91.39 Granted 48,995 78.11 Dividend equivalents 1,998 81.33 Forfeited (8,459) 106.10 Vested (102,434) 77.93 Outstanding at June 30, 2019 127,468 $ 96.12

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Recurring The following table presents the Company’s liabilities measured at fair value on a recurring basis at: June 30, 2019 December 31, 2018 (In thousands) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Liabilities Contingent consideration $ 7,722 $ — $ — 7,722 $ 7,302 $ — $ — $ 7,302 Derivative liabilities 2,519 — 2,519 — 1,108 — 1,108 — Contingent Consideration Related to Acquisitions Liabilities for contingent consideration related to acquisitions were estimated at fair value using management’s projections for long-term sales forecasts, including assumptions regarding market share gains and future industry-specific economic and market conditions, and a market participant’s weighted average cost of capital. Over the next six years, the Company’s long-term sales growth forecasts for products subject to contingent consideration arrangements average approximately 13 percent per year. For further information on the inputs used in determining the fair value, and a roll-forward of the contingent consideration liability, see Note 9 of the Notes to Condensed Consolidated Financial Statements. Changes in either of the inputs in isolation would result in a change in the fair value measurement. A change in the assumptions used for sales forecasts would result in a directionally similar change in the fair value liability, while a change in the weighted average cost of capital would result in a directionally opposite change in the fair value liability. If there is an increase in the fair value liability, the Company would record a charge to selling, general and administrative expenses, and if there is a decrease in the fair value liability, the Company would record a benefit in selling, general and administrative expenses. Derivative Instruments The Company’s objectives in using commodity derivatives are to add stability to expense and to manage its exposure to certain commodity price movements. To accomplish this objective, the Company uses commodity swaps as part of its commodity risk management strategy. Commodity swaps designated as cash flow hedges involve fixing the price on a fixed volume of a commodity on specified dates. The commodity swaps are typically cash settled for their fair value at or close to their settlement dates. At June 30, 2019, the Company had six commodity swap derivative instruments for a total of 38.8 million pounds of steel used to hedge its commodity price risk on a portion of the exposure to movements associated with steel costs at an average steel price of $0.37 per pound. These derivatives expire at various dates through April 2020. At December 31, 2018, the Company had five commodity swap derivative instruments for a total of 34.4 million pounds of steel at an average steel price of $0.39 per pound. These derivatives are designated and qualify as cash flow hedges of commodity price risk; therefore, the gain or loss on the derivative is recorded in accumulated other comprehensive income (loss) and subsequently reclassified in the period during which the hedged transactions affects earnings within the same income statement line item as the earnings effect

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segment Reporting	SEGMENT REPORTING The Company has two reportable segments, the OEM Segment and the Aftermarket Segment. Intersegment sales are insignificant. The OEM Segment, which accounted for 89 percent and 91 percent of consolidated net sales for the six months ended June 30, 2019 and 2018, respectively, manufactures or distributes a broad array of engineered components for the leading OEMs in the recreation and industrial product markets, consisting of RVs and adjacent industries, including buses; trailers used to haul boats, livestock, equipment and other cargo; trucks; boats; trains; manufactured homes; and modular housing. Approximately 61 percent of the Company’s OEM Segment net sales for the six months ended June 30, 2019 were of components for travel trailer and fifth-wheel RVs. The Aftermarket Segment, which accounted for 11 percent and nine percent of consolidated net sales for the six months ended June 30, 2019 and 2018, respectively, supplies engineered components to the related aftermarket channels of the recreation and industrial product markets, primarily to retail dealers, wholesale distributors and service centers. The Aftermarket Segment also includes the sale of replacement glass and awnings to fulfill insurance claims. Decisions concerning the allocation of the Company’s resources are made by the Company’s chief operating decision maker (“CODM”), with oversight by the Board of Directors. The CODM evaluates the performance of each segment based upon segment operating profit or loss, generally defined as income or loss before interest and income taxes. Decisions concerning the allocation of resources are also based on each segment’s utilization of assets. Management of debt is a corporate function. The accounting policies of the OEM and Aftermarket Segments are the same as those described in Note 2 of the Notes to Consolidated Financial Statements of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The following table presents the Company’s revenues disaggregated by segment and geography based on the billing address of the Company’s customers: Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 (In thousands) U.S. (a) Int’l (b) Total U.S. (a) Int’l (b) Total OEM Segment: RV OEMs: Travel trailers and fifth-wheels $ 340,025 $ 3,026 $ 343,051 $ 397,511 $ 1,953 $ 399,464 Motorhomes 28,943 12,414 41,357 37,553 11,518 49,071 Adjacent Industries OEMs 155,754 13,206 168,960 158,880 9,503 168,383 Total OEM Segment net sales 524,722 28,646 553,368 593,944 22,974 616,918 Aftermarket Segment: Total Aftermarket Segment net sales 72,870 2,830 75,700 64,429 3,108 67,537 Total net sales $ 597,592 $ 31,476 $ 629,068 $ 658,373 $ 26,082 $ 684,455 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 (In thousands) U.S. (a) Int’l (b) Total U.S. (a) Int’l (b) Total OEM Segment: RV OEMs: Travel trailers and fifth-wheels $ 653,392 $ 6,530 $ 659,922 $ 801,253 $ 3,168 $ 804,421 Motorhomes 60,864 25,493 86,357 80,959 21,027 101,986 Adjacent Industries OEMs 312,490 26,379 338,869 292,288 18,402 310,690 Total OEM Segment net sales 1,026,746 58,402 1,085,148 1,174,500 42,597 1,217,097 Aftermarket Segment: Total Aftermarket Segment net sales 129,402 6,690 136,092 111,775 6,075 117,850 Total net sales $ 1,156,148 $ 65,092 $ 1,221,240 $ 1,286,275 $ 48,672 $ 1,334,947 (a) Net sales to customers in the United States of America (b) Net sales to customers in countries domiciled outside of the United States of America The following table presents the Company’s operating profit by segment: Three Months Ended Six Months Ended (In thousands) 2019 2018 2019 2018 Operating profit: OEM Segment $ 52,679 $ 53,591 $ 93,087 $ 107,531 Aftermarket Segment 12,978 10,497 20,325 16,377 Total operating profit $ 65,657 $ 64,088 $ 113,412 $ 123,908 The following table presents the Company’s revenue disaggregated by product: Three Months Ended Six Months Ended (In thousands) 2019 2018 2019 2018 OEM Segment: Chassis, chassis parts and slide-out mechanisms $ 213,209 $ 247,811 $ 417,592 $ 500,514 Windows and doors 156,064 169,372 307,983 318,892 Furniture and mattresses 93,562 105,278 184,919 210,796 Axles and suspension solutions 33,957 33,148 66,192 66,753 Other 56,576 61,309 108,462 120,142 Total OEM Segment net sales 553,368 616,918 1,085,148 1,217,097 Total Aftermarket Segment net sales 75,700 67,537 136,092 117,850 Total net sales $ 629,068 $ 684,455 $ 1,221,240 $ 1,334,947

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, net sales and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to product returns, sales and purchase rebates, accounts receivable, inventories, goodwill and other intangible assets, net assets of acquired businesses, income taxes, warranty and product recall obligations, self-insurance obligations, operating lease right-of-use assets and obligations, asset retirement obligations, long-lived assets, post-retirement benefits, stock-based compensation, segment allocations, contingent consideration, environmental liabilities, contingencies and litigation. The Company bases its estimates on historical experience, other available information and various other assumptions believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities not readily apparent from other resources. Actual results and events could differ significantly from management estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently issued accounting pronouncements not yet adopted In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-04, Simplifying the Test for Goodwill Impairment, which amends Accounting Standards Codification (“ASC”) 350, Intangibles - Goodwill and Other. This ASU simplifies how an entity is required to test goodwill for impairment by eliminating step 2 from the goodwill impairment test. Step 2 measures goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. This ASU is effective for interim and annual reporting periods, beginning after December 15, 2019, and early adoption is permitted. The Company will adopt this guidance in the first quarter of 2020 and does not expect the adoption of this ASU to have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. This ASU is effective for interim and annual reporting periods, beginning after December 15, 2019, and early adoption is permitted. The Company will adopt this guidance in the first quarter of 2020 and is currently assessing the impact of this ASU on its consolidated financial statements. Recently adopted accounting pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires, in most instances, a lessee to recognize on its balance sheet a liability to make lease payments (the lease liability) and also a right-of-use asset representing its right to use the underlying asset for the lease term. Leases are classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. The Company adopted Topic 842 on January 1, 2019, using the cumulative-effect adjustment transition method, which applies the new standard at the effective date without adjusting the comparative periods presented. The Company elected the package of practical expedients permitted under the transition guidance, which allowed the carryforward of historical lease classification, the assessment of whether a contract is or contains a lease, and initial direct costs for any leases that existed prior to adoption of the new standard. The Company also elected to keep leases with an initial term of 12 months or less off its Condensed Consolidated Balance Sheet and recognize the associated lease payments in its Condensed Consolidated Statements of Income on a straight-line basis over the lease term. The adoption of Topic 842 resulted in the recognition of right-of-use assets of $66.4 million and operating lease obligations of $69.0 million at January 1, 2019. The adoption did not result in a cumulative effect adjustment to beginning

Acquisitions, Goodwill And Ot_2

Acquisitions, Goodwill And Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Acquisitions, Goodwill And Other Intangible Assets [Abstract]
Schedule of Goodwill	Goodwill by reportable segment was as follows: (In thousands) OEM Segment Aftermarket Segment Total Net balance – December 31, 2018 $ 160,257 $ 19,911 $ 180,168 Acquisitions – 2019 4,791 — 4,791 Other (2,635) (100) (2,735) Net balance – June 30, 2019 $ 162,413 $ 19,811 $ 182,224
Schedule of Other Intangible Assets	Other intangible assets consisted of the following at June 30, 2019: (In thousands) Gross Accumulated Net Estimated Useful Customer relationships $ 191,709 $ 61,022 $ 130,687 6 to 16 Patents 57,975 42,022 15,953 3 to 19 Trade names (finite life) 10,310 6,106 4,204 3 to 15 Trade names (indefinite life) 7,600 — 7,600 Indefinite Non-compete agreements 6,428 4,541 1,887 3 to 6 Other 309 157 152 2 to 12 Purchased research and development 4,687 — 4,687 Indefinite Other intangible assets $ 279,018 $ 113,848 $ 165,170 Other intangible assets consisted of the following at December 31, 2018: (In thousands) Gross Accumulated Net Estimated Useful Customer relationships $ 191,919 $ 54,889 $ 137,030 6 to 16 Patents 58,787 40,079 18,708 3 to 19 Trade names (finite life) 10,885 5,507 5,378 3 to 15 Trade names (indefinite life) 7,600 — 7,600 Indefinite Non-compete agreements 6,919 4,148 2,771 3 to 6 Other 309 141 168 2 to 12 Purchased research and development 4,687 — 4,687 Indefinite Other intangible assets $ 281,106 $ 104,764 $ 176,342
Smoker Craft Inc.
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The acquisition of this business was preliminarily recorded on the acquisition date as follows (in thousands) : Cash consideration $ 28,091 Customer relationship and other identifiable intangible assets $ 16,730 Net tangible assets 1,357 Total fair value of net assets acquired $ 18,087 Goodwill (tax deductible) $ 10,004
STLA
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The acquisition of this business was recorded as of the acquisition date as follows (in thousands) : Cash consideration, net of cash acquired $ 14,845 Customer relationships and other identifiable intangible assets $ 6,354 Net tangible assets 4,099 Total fair value of net assets acquired $ 10,453 Goodwill (not tax deductible) $ 4,392

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Schedule Of Inventories	Inventories are stated at the lower of cost (first-in, first-out (FIFO) method) or net realizable value. Cost includes material, labor and overhead. Inventories consisted of the following at: June 30, December 31, (In thousands) 2019 2018 Raw materials $ 246,504 $ 284,467 Work in process 11,529 12,291 Finished goods 43,126 43,857 Inventories, net $ 301,159 $ 340,615

Fixed Assets (Tables)

Fixed Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Schedule Of Fixed Assets	Fixed assets consisted of the following at: June 30, December 31, (In thousands) 2019 2018 Fixed assets, at cost $ 599,781 $ 559,234 Less accumulated depreciation and amortization 260,168 236,358 Fixed assets, net $ 339,613 $ 322,876

Accrued Expenses And Other Cu_2

Accrued Expenses And Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2019
Payables and Accruals [Abstract]
Schedule Of Accrued Expenses And Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following at: June 30, December 31, (In thousands) 2019 2018 Employee compensation and benefits $ 36,214 $ 33,835 Current portion of accrued warranty 36,760 32,180 Other 43,954 33,213 Accrued expenses and other current liabilities $ 116,928 $ 99,228
Schedule Of Reconciliation Of The Activity Related To Accrued Warranty	The following table provides a reconciliation of the activity related to the Company’s accrued warranty, including both the current and long-term portions, for the six months ended June 30, 2019: (In thousands) Balance at beginning of period $ 46,530 Provision for warranty expense 19,958 Warranty costs paid (14,588) Balance at end of period 51,900 Less long-term portion 15,140 Current portion of accrued warranty at end of period $ 36,760

Long-Term Indebtedness (Tables)

Long-Term Indebtedness (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term indebtedness consisted of the following at: June 30, December 31, (In thousands) 2019 2018 Revolving Credit Facility $ 190,600 $ 240,060 Shelf-Loan Facility 50,000 50,000 Other 5,651 4,425 Unamortized deferred financing fees (328) (361) 245,923 294,124 Less current portion (613) (596) Long-term indebtedness $ 245,310 $ 293,528

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Components of Lease Cost	The components of lease cost for the periods ended June 30, 2019 were as follows: (in thousands) Three Months Ended Six Months Ended Operating lease cost $ 5,873 $ 10,782 Short-term lease cost 676 1,474 Variable lease cost 424 830 Total lease cost $ 6,973 $ 13,086
Future Minimum Lease Payments	Future minimum lease payments under operating leases as of June 30, 2019 were as follows: (in thousands) Year Ending December 31, 2019 (excluding the six months ended June 30, 2019) $ 9,388 2020 15,729 2021 13,032 2022 9,465 2023 6,748 Thereafter 25,491 Total future minimum lease payments (a) 79,853 Less: Interest (14,304) Present value of operating lease liabilities $ 65,549 (a) Refer to the Company’s Annual Report on Form 10-K for disclosure of future minimum lease payments at December 31, 2018 under ASC Topic 840, the accounting standard applicable to leases prior to the adoption of Topic 842.

Commitments And Contingencies (

Commitments And Contingencies (Tables)	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Reconciliation Of Contingent Consideration Liability	The following table provides a reconciliation of the Company’s contingent consideration liability for the six months ended June 30, 2019: (In thousands) Balance at beginning of period $ 7,302 Payments (4) Accretion (a) 409 Net foreign currency translation adjustment 15 Balance at end of the period (b) 7,722 Less current portion in accrued expenses and other current liabilities (5,624) Total long-term portion in other long-term liabilities $ 2,098 (a) Recorded in selling, general and administrative expenses in the Condensed Consolidated Statements of Income. (b) Amounts represent the fair value of estimated remaining payments. The total estimated remaining undiscounted payments as of June 30, 2019 were $9.1 million. The liability for contingent consideration expires at various dates through September 2029. Certain of the contingent consideration arrangements are subject to a maximum payment amount, while the remaining arrangements have no maximum contingent consideration.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2019
Stockholders' Equity Note [Abstract]
Summary Of Common Stock Information	The following table summarizes information about shares of the Company’s common stock at: June 30, December 31, (In thousands) 2019 2018 Common stock authorized 75,000 75,000 Common stock issued 28,113 27,948 Treasury stock 3,087 3,087
Schedule Of Computation Of Basic And Diluted Earnings Per Share	The following reconciliation details the denominator used in the computation of basic and diluted earnings per share for the periods: Three Months Ended Six Months Ended (In thousands) 2019 2018 2019 2018 Weighted average shares outstanding for basic earnings per share 25,024 25,233 24,963 25,195 Common stock equivalents pertaining to stock-based awards 67 221 42 332 Weighted average shares outstanding for diluted earnings per share 25,091 25,454 25,005 25,527 Equity instruments excluded from diluted net earnings per share calculation as the effect would have been anti-dilutive 122 464 122 463
Schedule of Dividends Declared	The table below summarizes the regular quarterly dividends declared and paid during the periods ended June 30, 2019 and December 31, 2018: (In thousands, except per share data) Per Share Record Date Payment Date Total Paid First Quarter 2018 $ 0.55 03/16/18 03/29/18 $ 13,858 Second Quarter 2018 0.60 06/04/18 06/15/18 15,127 Third Quarter 2018 0.60 08/31/18 09/14/18 15,129 Fourth Quarter 2018 0.60 11/26/18 12/07/18 15,156 Total 2018 $ 2.35 $ 59,270 First Quarter 2019 $ 0.60 03/08/19 03/22/19 $ 14,999 Second Quarter 2019 0.65 06/07/19 06/21/19 16,267 Total 2019 $ 1.25 $ 31,266
Deferred And Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Awards and Units Activity	Transactions in DSUs and RSUs under the LCI Industries Equity Award and Incentive Plan, as Amended and Restated (“the 2011 Plan”) or the 2018 Plan, as applicable, are summarized as follows: Number of Shares Weighted Average Price Outstanding at December 31, 2018 264,406 $ 83.84 Issued 3,436 82.84 Granted 248,043 80.89 Dividend equivalents 5,642 81.42 Forfeited (6,175) 91.37 Vested (148,538) 74.58 Outstanding at June 30, 2019 366,814 $ 84.45
Stock Awards and Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Awards and Units Activity	Transactions in performance-based stock awards and PSUs under the 2011 Plan or the 2018 Plan, as applicable, are summarized as follows: Number of Shares Weighted Average Price Outstanding at December 31, 2018 187,368 $ 91.39 Granted 48,995 78.11 Dividend equivalents 1,998 81.33 Forfeited (8,459) 106.10 Vested (102,434) 77.93 Outstanding at June 30, 2019 127,468 $ 96.12

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Assets And Liabilities Measured At Fair Value On A Recurring Basis	The following table presents the Company’s liabilities measured at fair value on a recurring basis at: June 30, 2019 December 31, 2018 (In thousands) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Liabilities Contingent consideration $ 7,722 $ — $ — 7,722 $ 7,302 $ — $ — $ 7,302 Derivative liabilities 2,519 — 2,519 — 1,108 — 1,108 —

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Disaggregation of Revenue	The following table presents the Company’s revenues disaggregated by segment and geography based on the billing address of the Company’s customers: Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 (In thousands) U.S. (a) Int’l (b) Total U.S. (a) Int’l (b) Total OEM Segment: RV OEMs: Travel trailers and fifth-wheels $ 340,025 $ 3,026 $ 343,051 $ 397,511 $ 1,953 $ 399,464 Motorhomes 28,943 12,414 41,357 37,553 11,518 49,071 Adjacent Industries OEMs 155,754 13,206 168,960 158,880 9,503 168,383 Total OEM Segment net sales 524,722 28,646 553,368 593,944 22,974 616,918 Aftermarket Segment: Total Aftermarket Segment net sales 72,870 2,830 75,700 64,429 3,108 67,537 Total net sales $ 597,592 $ 31,476 $ 629,068 $ 658,373 $ 26,082 $ 684,455 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 (In thousands) U.S. (a) Int’l (b) Total U.S. (a) Int’l (b) Total OEM Segment: RV OEMs: Travel trailers and fifth-wheels $ 653,392 $ 6,530 $ 659,922 $ 801,253 $ 3,168 $ 804,421 Motorhomes 60,864 25,493 86,357 80,959 21,027 101,986 Adjacent Industries OEMs 312,490 26,379 338,869 292,288 18,402 310,690 Total OEM Segment net sales 1,026,746 58,402 1,085,148 1,174,500 42,597 1,217,097 Aftermarket Segment: Total Aftermarket Segment net sales 129,402 6,690 136,092 111,775 6,075 117,850 Total net sales $ 1,156,148 $ 65,092 $ 1,221,240 $ 1,286,275 $ 48,672 $ 1,334,947 (a) Net sales to customers in the United States of America (b) Net sales to customers in countries domiciled outside of the United States of America
Schedule Of Information Relating To Segments	The following table presents the Company’s operating profit by segment: Three Months Ended Six Months Ended (In thousands) 2019 2018 2019 2018 Operating profit: OEM Segment $ 52,679 $ 53,591 $ 93,087 $ 107,531 Aftermarket Segment 12,978 10,497 20,325 16,377 Total operating profit $ 65,657 $ 64,088 $ 113,412 $ 123,908
Revenue Disaggregated by Product	The following table presents the Company’s revenue disaggregated by product: Three Months Ended Six Months Ended (In thousands) 2019 2018 2019 2018 OEM Segment: Chassis, chassis parts and slide-out mechanisms $ 213,209 $ 247,811 $ 417,592 $ 500,514 Windows and doors 156,064 169,372 307,983 318,892 Furniture and mattresses 93,562 105,278 184,919 210,796 Axles and suspension solutions 33,957 33,148 66,192 66,753 Other 56,576 61,309 108,462 120,142 Total OEM Segment net sales 553,368 616,918 1,085,148 1,217,097 Total Aftermarket Segment net sales 75,700 67,537 136,092 117,850 Total net sales $ 629,068 $ 684,455 $ 1,221,240 $ 1,334,947

Basis of Presentation (Details)

Basis of Presentation (Details)	Jun. 30, 2019
Manufacturing Facility
Property, Plant and Equipment
Manufacturing Facilities	65

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 62,898,000		$ 0
Operating lease liabilities	$ 65,549
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 66,400,000
Operating lease liabilities		$ 69,000,000

Acquisitions, Goodwill And Ot_3

Acquisitions, Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	Aug. 06, 2019	Jun. 30, 2019	Nov. 30, 2018	Jun. 30, 2018
Lavet
Business Acquisition [Line Items]
Total purchase price		$ 2,000
Percentage of interests acquired		100.00%
Femto
Business Acquisition [Line Items]
Total purchase price		$ 6,500
Percentage of interests acquired		100.00%
Smoker Craft Inc.
Business Acquisition [Line Items]
Total purchase price			$ 28,100
Cash consideration			$ 28,091
Smoker Craft Inc. | Customer Relationships
Business Acquisition [Line Items]
Acquired intangible assets useful life			15 years
STLA
Business Acquisition [Line Items]
Percentage of interests acquired				100.00%
Cash consideration				$ 14,600
STLA | Customer Relationships
Business Acquisition [Line Items]
Acquired intangible assets useful life				15 years
Subsequent Event | Lewmar Marine Limited
Business Acquisition [Line Items]
Total purchase price	$ 43,500
Percentage of interests acquired	100.00%

Acquisitions, Goodwill And Ot_4

Acquisitions, Goodwill And Other Intangible Assets (Schedule Of Business Acquisitions) (Details) - USD ($) $ in Thousands	1 Months Ended		6 Months Ended
	Nov. 30, 2018	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Business Acquisition [Line Items]
Cash consideration net of cash acquired			$ 8,530	$ 153,415
Goodwill			$ 182,224		$ 180,168
Smoker Craft Inc.
Business Acquisition [Line Items]
Cash consideration	$ 28,091
Identifiable intangible assets	16,730
Net tangible assets	1,357
Total fair value of net assets acquired	18,087
Goodwill	$ 10,004
STLA
Business Acquisition [Line Items]
Cash consideration net of cash acquired		$ 14,845
Cash consideration		14,600
Identifiable intangible assets		6,354		6,354
Net tangible assets		4,099		4,099
Total fair value of net assets acquired		10,453		10,453
Goodwill		$ 4,392		$ 4,392

Acquisitions, Goodwill And Ot_5

Acquisitions, Goodwill And Other Intangible Assets (Schedule Of Goodwill By Reportable Segment) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Segment Reporting Information
Net balance – beginning of period	$ 180,168
Acquisitions	4,791
Other	(2,735)
Net balance – end of period	182,224
OEM Segment
Segment Reporting Information
Net balance – beginning of period	160,257
Acquisitions	4,791
Other	(2,635)
Net balance – end of period	162,413
Aftermarket Segment
Segment Reporting Information
Net balance – beginning of period	19,911
Acquisitions	0
Other	(100)
Net balance – end of period	$ 19,811

Acquisitions, Goodwill And Ot_6

Acquisitions, Goodwill And Other Intangible Assets (Schedule Of Other Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Acquired Intangible Assets
Accumulated Amortization		$ 113,848	$ 104,764
Intangible Assets, Gross (Excluding Goodwill)		279,018	281,106
Intangible Assets, Net (Excluding Goodwill)		165,170	176,342
Tradenames
Acquired Intangible Assets
Indefinite-Lived Intangible Assets		7,600	7,600
Purchased research and development
Acquired Intangible Assets
Indefinite-Lived Intangible Assets		4,687	4,687
Customer Relationships
Acquired Intangible Assets
Finite-Lived Intangible Assets, Gross		191,709	191,919
Accumulated Amortization		61,022	54,889
Net Balance		$ 130,687	137,030
Customer Relationships | Minimum
Acquired Intangible Assets
Estimated Useful Life in Years	6 years	6 years
Customer Relationships | Maximum
Acquired Intangible Assets
Estimated Useful Life in Years	16 years	16 years
Patents
Acquired Intangible Assets
Finite-Lived Intangible Assets, Gross		$ 57,975	58,787
Accumulated Amortization		42,022	40,079
Net Balance		$ 15,953	18,708
Patents | Minimum
Acquired Intangible Assets
Estimated Useful Life in Years	3 years	3 years
Patents | Maximum
Acquired Intangible Assets
Estimated Useful Life in Years	19 years	19 years
Tradenames
Acquired Intangible Assets
Finite-Lived Intangible Assets, Gross		$ 10,310	10,885
Accumulated Amortization		6,106	5,507
Net Balance		$ 4,204	5,378
Tradenames | Minimum
Acquired Intangible Assets
Estimated Useful Life in Years	3 years	3 years
Tradenames | Maximum
Acquired Intangible Assets
Estimated Useful Life in Years	15 years	15 years
Non-compete Agreements
Acquired Intangible Assets
Finite-Lived Intangible Assets, Gross		$ 6,428	6,919
Accumulated Amortization		4,541	4,148
Net Balance		$ 1,887	2,771
Non-compete Agreements | Minimum
Acquired Intangible Assets
Estimated Useful Life in Years	3 years	3 years
Non-compete Agreements | Maximum
Acquired Intangible Assets
Estimated Useful Life in Years	6 years	6 years
Other
Acquired Intangible Assets
Finite-Lived Intangible Assets, Gross		$ 309	309
Accumulated Amortization		157	141
Net Balance		$ 152	$ 168
Other | Minimum
Acquired Intangible Assets
Estimated Useful Life in Years	2 years	2 years
Other | Maximum
Acquired Intangible Assets
Estimated Useful Life in Years	12 years	12 years

Inventories (Schedule Of Invent

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 246,504	$ 284,467
Work in process	11,529	12,291
Finished goods	43,126	43,857
Inventories, net	$ 301,159	$ 340,615

Fixed Assets (Schedule Of Fixed

Fixed Assets (Schedule Of Fixed Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Fixed assets, at cost	$ 599,781	$ 559,234
Less accumulated depreciation and amortization	260,168	236,358
Fixed assets, net	$ 339,613	$ 322,876

Accrued Expenses And Other Cu_3

Accrued Expenses And Other Current Liabilities (Schedule Of Accrued Expenses And Other Current Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Employee compensation and benefits	$ 36,214	$ 33,835
Current portion of accrued warranty	36,760	32,180
Other	43,954	33,213
Accrued expenses and other current liabilities	$ 116,928	$ 99,228

Accrued Expenses And Other Cu_4

Accrued Expenses And Other Current Liabilities (Schedule Of Reconciliation Of The Activity Related To Accrued Warranty) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 46,530
Provision for warranty expense	19,958
Warranty costs paid	(14,588)
Balance at end of period	51,900
Less long-term portion	15,140
Current portion of accrued warranty	$ 36,760	$ 32,180

Long-Term Indebtedness (Schedul

Long-Term Indebtedness (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Unamortized deferred financing fees	$ (328)	$ (361)
Long-term debt	245,923	294,124
Less current portion	(613)	(596)
Long-term debt, excluding current maturities	245,310	293,528
Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	190,600	240,060
Shelf Loan
Debt Instrument [Line Items]
Long-term debt, gross	50,000	50,000
Other
Debt Instrument [Line Items]
Long-term debt, gross	$ 5,651	$ 4,425

Long-Term Indebtedness (Narrati

Long-Term Indebtedness (Narrative) (Details) € in Millions	Mar. 29, 2019	Dec. 14, 2018USD ($)	Apr. 27, 2016USD ($)	Mar. 20, 2015USD ($)	Feb. 24, 2014USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2019EUR (€)	Dec. 31, 2018USD ($)
Line of Credit Facility
Long-term indebtedness						$ 245,310,000		$ 293,528,000
Borrowings						245,923,000		$ 294,124,000
Remaining availability under the facilities						$ 556,900,000
Percentage of equity interests used as security						65.00%
Amended Credit Agreement
Line of Credit Facility
Maximum borrowings under line of credit		$ 300,000,000
JPMorgan Chase Bank And Wells Fargo Bank | Line of Credit
Line of Credit Facility
Maximum borrowings under line of credit			$ 325,000,000
Long-term indebtedness		250,000,000
Borrowings						$ 45,600,000	€ 40
Letter of credit						2,500,000
Remaining availability under the facilities						$ 406,900,000
JPMorgan Chase Bank And Wells Fargo Bank | Line of Credit | Prime Rate
Line of Credit Facility
Basis spread on variable rate						1.00%
JPMorgan Chase Bank And Wells Fargo Bank | Line of Credit | Prime Rate | Minimum
Line of Credit Facility
Basis spread on variable rate						0.875%
Prudential Investment Management Inc | Line of Credit
Line of Credit Facility
Long-term indebtedness				$ 50,000,000
Remaining availability under the facilities					$ 150,000,000
Debt term	3 years			5 years
Interest rate during period	3.80%			3.35%
Period after request is issued, by company, for interest payable rate to be determined by Prudential					5 days
JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Bank of America, N.A., and 1st Source Bank | Line of Credit
Line of Credit Facility
Maximum borrowings under line of credit		$ 600,000,000
Option One | JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Bank of America, N.A., and 1st Source Bank | Line of Credit | LIBOR | Minimum
Line of Credit Facility
Debt instrument, additional margin interest rate			0.00%			0.00%
Option One | JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Bank of America, N.A., and 1st Source Bank | Line of Credit | LIBOR | Maximum
Line of Credit Facility
Debt instrument, additional margin interest rate		0.625%
Option One | JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Bank of America, N.A., and 1st Source Bank | Line of Credit | Federal Funds Effective Rate
Line of Credit Facility
Basis spread on variable rate		0.50%
Option Two | JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Bank of America, N.A., and 1st Source Bank | Line of Credit | LIBOR | Maximum
Line of Credit Facility
Basis spread on variable rate		1.625%

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Leases [Abstract]
Term of contract	12 years	12 years
Weighted average remaining lease term	6 years 8 months 12 days	6 years 8 months 12 days
Weighted average discount rate	5.70%	5.70%
Operating lease right-of-use assets	$ 62,898,000	$ 62,898,000	$ 0
Additional right-of use assets in exchange of operating lease obligations	$ 4,300,000
Cash flows from operations		$ 10,600,000

Leases (Components of Lease Cos

Leases (Components of Lease Cost) (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 5,873	$ 10,782
Short-term lease cost	676	1,474
Variable lease cost	424	830
Total lease cost	$ 6,973	$ 13,086

Leases (Future Minimum Lease Pa

Leases (Future Minimum Lease Payments) (Details)	Jun. 30, 2019USD ($)
Leases [Abstract]
2019 (excluding the six months ended June 30, 2019)	$ 9,388
2020	15,729
2021	13,032
2022	9,465
2023	6,748
Thereafter	25,491
Total future minimum lease payments	79,853
Less: Interest	(14,304)
Present value of operating lease liabilities	$ 65,549

Commitments And Contingencies_2

Commitments And Contingencies (Narrative) (Details)	1 Months Ended
	Jul. 31, 2015	Jun. 30, 2019
Furrion Limited
Loss Contingencies
Long-term purchase commitment, time period	6 years
Weighted Average Cost of Capital
Loss Contingencies
Weighted average cost of capital		0.117

Commitments And Contingencies_3

Commitments And Contingencies (Reconciliation Of Contingent Consideration Liability) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Business Combination, Contingent Consideration, Reconciliation of Change in Liability [Roll Forward]
Balance at beginning of period	$ 7,302
Payments	(4)
Accretion	409
Net foreign currency translation adjustment	15
Balance at end of the period	7,722
Less current portion in accrued expenses and other current liabilities	(5,624)
Total long-term portion in other long-term liabilities	2,098
Contingent consideration, total remaining estimated payments	$ 9,100

Stockholders' Equity (Summary O

Stockholders' Equity (Summary Of Common Stock Information) (Details) - shares shares in Thousands	Jun. 30, 2019	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Common stock authorized (in shares)	75,000	75,000
Common stock issued (in shares)	28,113	27,948
Treasury stock (in shares)	3,087	3,087

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule Of Computation Of Basic And Diluted Earnings Per Share) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Weighted average shares outstanding for basic earnings per share (in shares)	25,024	25,233	24,963	25,195
Common stock equivalents pertaining to stock options and deferred stock units (in shares)	67	221	42	332
Weighted average shares outstanding for diluted earnings per share (in shares)	25,091	25,454	25,005	25,527
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	122	464	122	463

Stockholders' Equity (Summary_2

Stockholders' Equity (Summary of Regular Quarterly Dividend) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						6 Months Ended		12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash dividend (in usd per share)	$ 0.65	$ 0.60	$ 0.60	$ 0.60	$ 0.60	$ 0.55	$ 1.25		$ 2.35
Payment of dividends							$ 31,266	$ 28,985
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payment of dividends	$ 16,267	$ 14,999	$ 15,156	$ 15,129	$ 15,127	$ 13,858	$ 31,266		$ 59,270

Stockholders' Equity (Stock Awa

Stockholders' Equity (Stock Awards and Units Activity) (Details)	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Deferred And Restricted Stock Units
Number of Shares
Outstanding at beginning of period (in shares) | shares	264,406
Issued (in shares) | shares	3,436
Granted (in shares) | shares	248,043
Dividend equivalents (in shares) | shares	5,642
Forfeited (in shares) | shares	(6,175)
Vested (in shares) | shares	148,538
Outstanding at end of period (in shares) | shares	366,814
Weighted Average Price
Outstanding at beginning of period (in usd per share) | $ / shares	$ 83.84
Issued (in usd per share) | $ / shares	82.84
Granted (in usd per share) | $ / shares	80.89
Dividend equivalents (in usd per share) | $ / shares	81.42
Forfeited (in usd per share) | $ / shares	91.37
Vested (in usd per share) | $ / shares	74.58
Outstanding at end of period (in usd per share) | $ / shares	$ 84.45
Stock Awards and Performance Stock Units
Number of Shares
Outstanding at beginning of period (in shares) | shares	187,368
Granted (in shares) | shares	48,995
Dividend equivalents (in shares) | shares	1,998
Forfeited (in shares) | shares	(8,459)
Vested (in shares) | shares	102,434
Outstanding at end of period (in shares) | shares	127,468
Weighted Average Price
Outstanding at beginning of period (in usd per share) | $ / shares	$ 91.39
Granted (in usd per share) | $ / shares	78.11
Dividend equivalents (in usd per share) | $ / shares	81.33
Forfeited (in usd per share) | $ / shares	106.10
Vested (in usd per share) | $ / shares	77.93
Outstanding at end of period (in usd per share) | $ / shares	$ 96.12

Fair Value Measurements (Assets

Fair Value Measurements (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Liabilities
Contingent consideration	$ 7,722		$ 7,302
Derivative liabilities	2,519	$ 1,108	2,500
Level 1
Liabilities
Contingent consideration	0		0
Derivative liabilities	0	0
Level 2
Liabilities
Contingent consideration	0		0
Derivative liabilities	2,519	1,108
Level 3
Liabilities
Contingent consideration	7,722		$ 7,302
Derivative liabilities	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Thousands, lb in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)derivative_instrumentlb$ / lb	Mar. 31, 2019lb$ / lb	Jun. 30, 2019USD ($)derivative_instrument	Dec. 31, 2018USD ($)derivative_instrument	Jun. 30, 2018USD ($)
Fair Value Disclosures [Abstract]
Number of years long-term sales growth forecasted over			6 years
Average long-term sales growth forecast, over next 4 years, percent per year			13.00%
Derivative, number of instruments held | derivative_instrument	6		6	5
Underlying, derivative mass | $ / lb	0.37	0.39
Derivative, nonmonetary notional amount, mass | lb	38.8	34.4
Derivative liability	$ 2,519		$ 2,519	$ 1,108	$ 2,500
Derivative liability, current				900
Derivative liability, noncurrent				$ 200

Segment Reporting (Narrative) (

Segment Reporting (Narrative) (Details) - segment	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information
Number of reportable segments	2
Net sales | OEM Segment
Segment Reporting Information
Concentration risk, percentage	89.00%	91.00%
Net sales | Aftermarket Segment
Segment Reporting Information
Concentration risk, percentage	11.00%	9.00%
Product Concentration Risk | Net sales | Travel trailers and fifth-wheels
Segment Reporting Information
Concentration risk, percentage	61.00%

Segment Reporting (Disaggregati

Segment Reporting (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 629,068	$ 684,455	$ 1,221,240	$ 1,334,947
OEM Segment
Disaggregation of Revenue [Line Items]
Net sales	553,368	616,918	1,085,148	1,217,097
Travel trailers and fifth-wheels
Disaggregation of Revenue [Line Items]
Net sales	343,051	399,464	659,922	804,421
Motorhomes
Disaggregation of Revenue [Line Items]
Net sales	41,357	49,071	86,357	101,986
Adjacent industries OEMs
Disaggregation of Revenue [Line Items]
Net sales	168,960	168,383	338,869	310,690
Aftermarket Segment
Disaggregation of Revenue [Line Items]
Net sales	75,700	67,537	136,092	117,850
Chassis, chassis parts and slide-out mechanisms | OEM Segment
Disaggregation of Revenue [Line Items]
Net sales	213,209	247,811	417,592	500,514
Windows and doors | OEM Segment
Disaggregation of Revenue [Line Items]
Net sales	156,064	169,372	307,983	318,892
Furniture and mattresses | OEM Segment
Disaggregation of Revenue [Line Items]
Net sales	93,562	105,278	184,919	210,796
Axles and suspension solutions | OEM Segment
Disaggregation of Revenue [Line Items]
Net sales	33,957	33,148	66,192	66,753
Other | OEM Segment
Disaggregation of Revenue [Line Items]
Net sales	56,576	61,309	108,462	120,142
U.S.
Disaggregation of Revenue [Line Items]
Net sales	597,592	658,373	1,156,148	1,286,275
U.S. | OEM Segment
Disaggregation of Revenue [Line Items]
Net sales	524,722	593,944	1,026,746	1,174,500
U.S. | Travel trailers and fifth-wheels
Disaggregation of Revenue [Line Items]
Net sales	340,025	397,511	653,392	801,253
U.S. | Motorhomes
Disaggregation of Revenue [Line Items]
Net sales	28,943	37,553	60,864	80,959
U.S. | Adjacent industries OEMs
Disaggregation of Revenue [Line Items]
Net sales	155,754	158,880	312,490	292,288
U.S. | Aftermarket Segment
Disaggregation of Revenue [Line Items]
Net sales	72,870	64,429	129,402	111,775
International
Disaggregation of Revenue [Line Items]
Net sales	31,476	26,082	65,092	48,672
International | OEM Segment
Disaggregation of Revenue [Line Items]
Net sales	28,646	22,974	58,402	42,597
International | Travel trailers and fifth-wheels
Disaggregation of Revenue [Line Items]
Net sales	3,026	1,953	6,530	3,168
International | Motorhomes
Disaggregation of Revenue [Line Items]
Net sales	12,414	11,518	25,493	21,027
International | Adjacent industries OEMs
Disaggregation of Revenue [Line Items]
Net sales	13,206	9,503	26,379	18,402
International | Aftermarket Segment
Disaggregation of Revenue [Line Items]
Net sales	$ 2,830	$ 3,108	$ 6,690	$ 6,075

Segment Reporting (Schedule of

Segment Reporting (Schedule of Operating Profit by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information
Operating profit	$ 65,657	$ 64,088	$ 113,412	$ 123,908
Operating Segments | OEM Segment
Segment Reporting Information
Operating profit	52,679	53,591	93,087	107,531
Operating Segments | Aftermarket Segment
Segment Reporting Information
Operating profit	$ 12,978	$ 10,497	$ 20,325	$ 16,377