Acquisitions (Tables)

6 Months Ended

Jan. 31, 2021

Schedule of recognized identified assets acquired and liabilities assumed

The following table summarizes the preliminary estimated fair values of the Tiffin Group net assets acquired on the acquisition date. The Company is in the process of completing a fair value analysis, but this analysis has not been fully completed. While all amounts remain subject to adjustment, the areas subject to the most significant potential adjustment are intangible assets, deferred income tax liabilities and certain accrued expenses. The Company expects to finalize these values as soon as practical and no later than one year from the acquisition date.


Cash	$	12,985
Inventory	116,691
Other assets	53,860
Property, plant and equipment	48,511
Amortizable intangible assets:
Dealer network	92,100
Trademarks	32,100
Non-compete agreements	1,400
Backlog	4,800
Goodwill	62,336
Current liabilities	(81,859)
Deferred income tax liabilities	(34,860)
Other liabilities	(7,203)
Total fair value of net assets acquired	300,861
Less cash acquired	(12,985)
Total cash consideration for acquisition, less cash acquired	$	287,876

The table below summarizes the final estimated fair value of the Togo Group assets acquired and liabilities assumed as of the 2020 Agreement effective date.


Cash	$	326
Accounts receivable	466
Other assets	749
Property, plant and equipment	362
Amortizable intangible assets
Trade names and trademarks	1,130
Developed technology	5,700
Other	1,350
Goodwill	61,955
Liabilities	(2,595)
Non-controlling interest	(16,835)
Total fair value of net assets acquired	$	52,608

Business Acquisition, Pro Forma Information

The following unaudited pro forma information represents the Company’s results of operations as if the fiscal 2021 acquisition of the Tiffin Group had occurred at the beginning of fiscal 2020 and the fiscal 2020 acquisition of the Togo Group had occurred at the beginning of fiscal 2019. These performance results may not be indicative of the actual results that would have occurred under the ownership and management of the Company.


	Three Months Ended		Six Months Ended
	January 31, 2021		January 31, 2021
Net sales	$	2,829,652	$	5,529,050
Net income attributable to THOR Industries, Inc.	$	139,345	$	254,461
Basic earnings per common share	$	2.52	$	4.60
Diluted earnings per common share	$	2.51	$	4.58


	Three Months Ended		Six Months Ended
	January 31, 2020		January 31, 2020
Net sales	$	2,204,841	$	4,577,026
Net income attributable to THOR Industries, Inc.	$	32,043	$	82,657
Basic earnings per common share	$	0.58	$	1.50
Diluted earnings per common share	$	0.58	$	1.49