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INTANGIBLE ASSETS, GOODWILL AND LONG-LIVED ASSETS
 12 Months Ended
Jul. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, GOODWILL AND LONG-LIVED ASSETS INTANGIBLE ASSETS, GOODWILL AND LONG-LIVED ASSETS
The components of amortizable intangible assets are as follows:
 
 July 31, 2020July 31, 2019
 CostAccumulated
Amortization		CostAccumulated
Amortization
Dealer networks/customer relationships$766,198 $252,320 $750,641 $191,017 
Trademarks275,775 47,743 268,778 34,518 
Design technology and other intangibles213,468 40,654 196,616 19,689 
Total amortizable intangible assets$1,255,441 $340,717 $1,216,035 $245,224 

Estimated annual amortization expense is as follows:

For the fiscal year ending July 31, 2021$108,713 
For the fiscal year ending July 31, 2022112,674 
For the fiscal year ending July 31, 202392,063 
For the fiscal year ending July 31, 202483,381 
For the fiscal year ending July 31, 202576,410 
For the fiscal year ending July 31, 2026 and thereafter441,483 
$914,724 

For goodwill impairment testing purposes, the Company’s reporting units are generally the same as its operating segments, which are identified in Note 3 to the Consolidated Financial Statements. The fair values of the applicable reporting units are determined by utilizing a discounted cash flow model, which represents Level 3 inputs as defined by ASC 820. These estimates are subject to significant management judgment, including the determination of many factors such as sales growth rates, gross margin patterns, cost growth rates, terminal value assumptions and discount rates. Changes in these estimates can have a significant impact on the determination of cash flows and fair value and could potentially result in future material impairments.
During the fiscal quarter ended January 31, 2020, there was an interim impairment assessment performed related to two groups of tangible and intangible assets within the North American towables reportable segment, using Level 3 inputs as defined by ASC 820, as it was determined that each group of assets would be sold before the end of their previously estimated useful lives and within the next twelve months. The Company recognized an aggregate impairment charge of $10,057 related to these assets during the fiscal quarter ended January 31, 2020, which included a goodwill impairment charge of $1,036. The sales of these assets were completed during the fiscal quarter ended April 30, 2020.

Due to the impact of the global coronavirus pandemic on overall macroeconomic conditions and the equity markets, and its effects on the Company's operations during the three months ended April 30, 2020, the Company performed a quantitative impairment assessment related to the European reporting unit in the fiscal quarter ended April 30, 2020. As a result of that assessment, the Company concluded that the fair value of the European reporting unit exceeded its carrying value and that there was no impairment of goodwill as of April 30, 2020.

The Company completed its annual goodwill impairment test for fiscal 2020 as of May 31, 2020, and no impairment was identified. There were no impairments of goodwill during fiscal 2019 or 2018.

Changes in the carrying amount of goodwill by reportable segment as of July 31, 2020 and July 31, 2019 are summarized as follows:
 
North
American
Towables		North 
American
Motorized		EuropeanOtherTotal
Net balance as of July 31, 2018
$334,822 $— $— $42,871 $377,693 
Fiscal year 2019 activity:
Goodwill acquired— — 1,008,472 — 1,008,472 
Foreign currency translation and other— — (28,133)— (28,133)
Net balance as of July 31, 2019
$334,822 $— $980,339 $42,871 $1,358,032 
Goodwill acquired— — — 62,366 62,366 
Measurement period adjustment— — 1,282 (411)871 
Foreign currency translation and other— — 56,308 — 56,308 
Impairment charge(1,036)— — — (1,036)
Net balance as of July 31, 2020
$333,786 $— $1,037,929 $104,826 $1,476,541 

The components of the goodwill balances as of July 31, 2020 and July 31, 2019 are summarized as follows:
 
North
American
Towables		North 
American
Motorized		EuropeanOtherTotal
Goodwill$343,935 $17,252 $1,037,929 $104,826 $1,503,942 
Accumulated impairment charges(10,149)(17,252)— — (27,401)
Net balance as of July 31, 2020
$333,786 $— $1,037,929 $104,826 $1,476,541 
 
North
American
Towables		North 
American
Motorized		EuropeanOtherTotal
Goodwill$343,935 $17,252 $980,339 $42,871 $1,384,397 
Accumulated impairment charges(9,113)(17,252)— — (26,365)
Net balance as of July 31, 2019
$334,822 $— $980,339 $42,871 $1,358,032