Business Segments

12 Months Ended

Jul. 31, 2012

Business Segments

3.  BUSINESS SEGMENTS

The Company has three reportable segments: 1) towable recreation vehicles, 2) motorized recreation vehicles and 3) buses. The towable recreation vehicle reportable segment consists of product lines from the following operating segments that have been aggregated: Airstream, CrossRoads, Dutchmen, Keystone and Heartland. The motorized recreation vehicle reportable segment consists of product lines from the following operating segments that have been aggregated: Airstream and Thor Motor Coach. The bus reportable segment consists of the following operating segments that have been aggregated: Champion Bus, ElDorado California, ElDorado Kansas and Goshen Coach.

Manufacturing and sales are conducted in the United States and, to a much lesser extent through fiscal 2010, in Canada. Identifiable assets are those assets used in the operation of each reportable segment. Corporate assets primarily consist of cash and cash equivalents, investments and deferred income tax assets.

	2012		2011		2010
Net sales:
Recreation vehicles
Towables	$	2,285,863	$	1,977,416	$	1,556,591
Motorized		353,935		363,026		291,958
Total recreation vehicles		2,639,798		2,340,442		1,848,549
Buses		444,862		415,066		428,008
Total	$	3,084,660	$	2,755,508	$	2,276,557

	2012		2011		2010
Income (loss) before income taxes:
Recreation vehicles
Towables	$	158,973	$	146,361	$	145,604
Motorized		18,469		12,777		10,628
Total recreation vehicles		177,442		159,138		156,232
Buses		16,020		21,951		29,904
Corporate		(12,771)		(28,462)		(14,743)
Total	$	180,691	$	152,627	$	171,393
Identifiable assets:
Recreation vehicles
Towables	$	734,439	$	696,059	$	413,112
Motorized		82,904		93,586		86,726
Total recreation vehicles		817,343		789,645		499,838
Buses		143,324		126,224		124,374
Corporate		282,387		282,201		339,861
Total	$	1,243,054	$	1,198,070	$	964,073
Depreciation and amortization expense:
Recreation vehicles
Towables	$	20,010	$	18,506	$	7,735
Motorized		2,122		2,474		3,058
Total recreation vehicles		22,132		20,980		10,793
Buses		2,537		2,716		1,981
Corporate		309		313		455
Total	$	24,978	$	24,009	$	13,229
Capital acquisitions:
Recreation vehicles
Towables	$	8,830	$	22,835	$	8,971
Motorized		798		1,393		706
Total recreation vehicles		9,628		24,228		9,677
Buses		771		9,417		2,888
Corporate		43		53		202
Total	$	10,442	$	33,698	$	12,767

Export sales to Canada from the Company’s U.S. operations were $463,130, $444,364 and $364,105 in fiscal 2012, 2011 and 2010, respectively.