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Business Segments
 3 Months Ended
Oct. 31, 2025
Segment Reporting [Abstract]  
Business Segments Business Segments
The Company’s Chief Operating Decision Maker ("CODM") is the President and Chief Executive Officer. The CODM uses net sales, gross profit and income (loss) before income taxes to measure performance of the Company’s segments, allocate resources and make operating decisions. The CODM regularly evaluates these financial measures compared to prior year and forecasted results. Income (loss) before income taxes is utilized during the Company’s budgeting and forecasting process to assess segment profitability and enable decision making regarding strategic initiatives, capital investments and other resources. The Company has three reportable segments, all related to recreational vehicles: (1) North American Towable Recreational Vehicles, (2) North American Motorized Recreational Vehicles and (3) European Recreational Vehicles.

The North American Towable Recreational Vehicles reportable segment consists of the following operating segments that have been aggregated: Airstream (towable), Jayco (towable), Keystone and KZ. The North American Motorized Recreational Vehicles reportable segment consists of the following operating segments that have been aggregated: Airstream (motorized), Jayco (motorized), Thor Motor Coach and the Tiffin Group. The European Recreational Vehicles reportable segment consists solely of the EHG business. EHG manufactures a full line of motorized and towable recreational vehicles, including motorcaravans, campervans, urban vehicles and caravans in nine primary RV production locations within Europe. EHG produces and sells numerous brands primarily within Europe, including Buccaneer, Buerstner, Carado, CrossCamp, Dethleffs, Elddis, Eriba, Etrusco, Hymer, Laika, LMC, Niesmann+Bischoff, Sunlight and Xplore. In addition, EHG’s operations include other RV-related products and services.

The operations of the Company’s Airxcel and Postle subsidiaries are included in “Other”. Net sales included in Other related primarily to the sale of specialized component parts and aluminum extrusions. Intercompany eliminations primarily adjust for Postle and Airxcel sales to the Company’s North American Towables and North American Motorized segments, which are consummated at established transfer prices generally consistent with the selling prices of products to third parties.

Corporate results include items such as corporate governance expenses, interest expense and other product development expenses.

Other expense (income) includes the gains or losses on the sales of fixed assets, foreign currency changes and equity method investment gains and losses, as well as market value changes in the Company's deferred compensation plan assets and other non-operational items.

Total assets include those assets used in the operation of each reportable and non-reportable segment, and the Corporate assets consist primarily of cash and cash equivalents, deferred income taxes, deferred compensation plan assets, equity and other investments and certain Corporate real estate holdings primarily utilized by THOR’s U.S.-based operating subsidiaries.

The accounting policies of the reportable segments are the same as those described in Note 1 to the Consolidated Financial Statements included in the Fiscal 2025 Form 10-K.

The following tables summarize the Company's financial performance by reportable segment:

Three Months Ended October 31,
NET SALES:20252024
Recreational vehicles
North American Towable$897,090$898,778
North American Motorized661,096505,208
Total North America1,558,1861,403,986
European655,479604,903
Total recreational vehicles2,213,6652,008,889
Other259,056193,511
Intercompany eliminations(83,598)(59,616)
Total$2,389,123$2,142,784
Three Months Ended October 31,
COST OF PRODUCTS SOLD:20252024
Recreational vehicles
North American Towable$778,095$786,341
North American Motorized589,474462,481
Total North America1,367,5691,248,822
European577,665512,255
Total recreational vehicles1,945,2341,761,077
Other205,680159,758
Intercompany eliminations(82,765)(59,493)
Total$2,068,149$1,861,342

Three Months Ended October 31,
GROSS PROFIT:20252024
Recreational vehicles
North American Towable$118,995$112,437
North American Motorized71,62242,727
Total North America190,617155,164
European77,81492,648
Total recreational vehicles268,431247,812
Other, net52,54333,630
Total$320,974$281,442

Three Months Ended October 31,
SELLING, GENERAL AND ADMINISTRATIVE EXPENSE:20252024
Recreational vehicles
North American Towable$64,358$64,303
North American Motorized35,57830,367
Total North America99,93694,670
European91,98179,727
Total recreational vehicles191,917174,397
Other, net21,80819,474
Corporate40,30546,326
Total$254,030$240,197

Three Months Ended October 31,
AMORTIZATION EXPENSE:20252024
Recreational vehicles
North American Towable$4,077$4,519
North American Motorized3,2093,657
Total North America7,2868,176
European12,06412,206
Total recreational vehicles19,35020,382
Other, net8,5789,254
Corporate—186
Total$27,928$29,822
Three Months Ended October 31,
INTEREST EXPENSE (INCOME), NET:20252024
Recreational vehicles
North American Towable$(3)$(3)
North American Motorized(1)(3)
Total North America(4)(6)
European5571,329
Total recreational vehicles5531,323
Other, net4465
Corporate8,42013,840
Total$9,017$15,228

Three Months Ended October 31,
OTHER EXPENSE (INCOME), NET:20252024
Recreational vehicles
North American Towable$4,092$(3,203)
North American Motorized(313)(375)
Total North America3,779(3,578)
European(150)(1,791)
Total recreational vehicles3,629(5,369)
Other, net(593)63
Corporate(5,525)2,657
Total$(2,489)$(2,649)

Three Months Ended October 31,
INCOME (LOSS) BEFORE INCOME TAXES:20252024
Recreational vehicles
North American Towable$46,471$46,821
North American Motorized33,1499,081
Total North America79,62055,902
European(26,638)1,177
Total recreational vehicles52,98257,079
Other, net22,7064,774
Corporate(43,200)(63,009)
Total$32,488$(1,156)
The following tables provide other supplemental financial information by reportable segment:

TOTAL ASSETS:October 31, 2025July 31, 2025
Recreational vehicles
North American Towable$1,283,157$1,270,005
North American Motorized1,092,783978,762
Total North America2,375,9402,248,767
European2,875,0222,965,645
Total recreational vehicles5,250,9625,214,412
Other1,021,8471,018,622
Corporate718,577832,250
Total$6,991,386$7,065,284
DEPRECIATION AND INTANGIBLE ASSET AMORTIZATION EXPENSE:Three Months Ended October 31,
20252024
Recreational vehicles
North American Towable$12,118$13,094
North American Motorized8,0028,656
Total North America20,12021,750
European33,14732,241
Total recreational vehicles53,26753,991
Other
12,05712,872
Corporate
711798
Total$66,035$67,661

Three Months Ended October 31,
CAPITAL ACQUISITIONS:20252024
Recreational vehicles
North American Towable$7,316$4,158
North American Motorized5,7373,136
Total North America13,0537,294
European9,19010,901
Total recreational vehicles22,24318,195
Other
3,6173,629
Corporate
4,0572,525
Total$29,917$24,349