Acquisitions (Tables)

9 Months Ended

Apr. 30, 2021

Schedule of recognized identified assets acquired and liabilities assumed

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


Cash	$	13,074
Inventory	116,441
Other assets	53,860
Property, plant and equipment	48,262
Amortizable intangible assets:
Dealer network	92,200
Trademarks	32,100
Non-compete agreements	1,400
Backlog	4,800
Goodwill	62,905
Current liabilities	(81,423)
Deferred income tax liabilities	(35,104)
Other liabilities	(7,203)
Total fair value of net assets acquired	301,312
Less cash acquired	(13,074)
Total cash consideration for acquisition, less cash acquired	$	288,238

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		Nine Months Ended
	April 30, 2021		April 30, 2021
Net sales	$	3,459,264	$	8,988,314
Net income attributable to THOR Industries, Inc.	$	183,104	$	436,817
Basic earnings per common share	$	3.31	$	7.90
Diluted earnings per common share	$	3.29	$	7.85


	Three Months Ended		Nine Months Ended
	April 30, 2020		April 30, 2020
Net sales	$	1,826,765	$	6,403,792
Net income attributable to THOR Industries, Inc.	$	20,966	$	103,623
Basic earnings per common share	$	0.38	$	1.88
Diluted earnings per common share	$	0.38	$	1.87