ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Jul. 31, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The components of other comprehensive income (loss) (“OCI”) and the changes in the Company’s accumulated OCI (“AOCI”) by component for the fiscal years ended July 31, 2020 and July 31, 2019 were as follows:


	2020
	Foreign Currency Translation Adjustment		Unrealized Gain (Loss) on Derivatives		Other		Total
Balance at beginning of period	$	(47,078)	$	(9,472)	$	(1,048)	$	(57,598)
OCI before reclassifications	92,735		(20,557)		352		72,530
Income taxes associated with OCI before reclassifications ⁽¹⁾	—		4,906		—		4,906
Amounts reclassified from AOCI	—		8,180		—		8,180
Income taxes associated with amounts reclassified from AOCI	—		(1,880)		—		(1,880)
AOCI, net of tax	45,657		(18,823)		(696)		26,138
Less: AOCI attributable to non-controlling interest	(855)		—		—		(855)
AOCI, net of tax attributable to Thor Industries, Inc.	$	46,512	$	(18,823)	$	(696)	$	26,993


	2019
	Foreign Currency Translation Adjustment		Unrealized Gain (Loss) on Derivatives		Other		Total
Balance at beginning of period	$	—	$	—	$	—	$	—
OCI before reclassifications	(44,684)		(12,184)		(1,048)		(57,916)
Income taxes associated with OCI before reclassifications ⁽¹⁾	(2,394)		2,917		—		523
Amounts reclassified from AOCI	—		(279)		—		(279)
Income taxes associated with amounts reclassified from AOCI	—		74		—		74
AOCI, net of tax	(47,078)		(9,472)		(1,048)		(57,598)
Less: AOCI attributable to non-controlling interest	(594)		—		—		(594)
AOCI, net of tax attributable to Thor Industries, Inc.	$	(46,484)	$	(9,472)	$	(1,048)	$	(57,004)

(1)We do not recognize deferred taxes for a majority of the foreign currency translation gains and losses because we do not anticipate reversal in the foreseeable future.