Property, Plant and Equipment

9 Months Ended

Apr. 30, 2014

Property, Plant and Equipment

7. Property, Plant and Equipment

Property, plant and equipment is stated at cost, net of accumulated depreciation, and consists of the following:

	April 30, 2014		July 31, 2013
Land	$	19,896	$	20,885
Buildings and improvements		155,315		150,628
Machinery and equipment		79,764		73,478
Total cost		254,975		244,991
Less accumulated depreciation		106,006		101,182
Net property, plant and equipment	$	148,969	$	143,809

The Company anticipates selling a towable RV facility located in the western United States in the fourth quarter of fiscal 2014. Land of $2,312 and net buildings and improvements of $3,153, or a total net value of $5,465 related to this facility, have been classified as assets held for sale in the Condensed Consolidated Balance Sheet. The final sale is expected to result in a gain. RV production from this facility has already been consolidated into another Company complex in the same region.

During the first quarter of fiscal 2014, the Company determined it was more likely than not that certain long-lived assets, consisting of certain RV facilities, would be sold or altered before the end of their previously estimated useful life. Therefore, the Company performed impairment assessments over these facilities using Level 3 inputs as defined by ASC 820 to determine whether an impairment exists. As a result of these assessments, a non-cash impairment charge of $710 was recognized in the quarter ended October 31, 2013.