Business Segments

6 Months Ended

Jan. 31, 2018

Segment Reporting [Abstract]

Business Segments

3. Business Segments

The Company has two reportable segments, both related to recreational vehicles: (1) towables and (2) motorized. The towable recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (towable), Heartland (including Bison, Cruiser RV and DRV), Jayco (including Jayco towable, Starcraft and Highland Ridge), Keystone (including CrossRoads and Dutchmen) and KZ (including Livin’ Lite). The motorized recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (motorized), Jayco (including Jayco motorized and Entegra Coach) and Thor Motor Coach.

The operations of the Company’s Postle subsidiary are included in “Other,” which is a non-reportable segment. Net sales included in Other mainly relate to the sale of aluminum extrusions and specialized component products. Intercompany eliminations adjust for Postle sales to the Company’s towable and motorized segments, which are consummated at established arm’s-length transfer prices generally consistent with the selling prices of extrusion components to third-party customers.

All manufacturing is conducted within the United States. 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 net income tax and deferred compensation plan assets and certain Corporate real estate holdings primarily utilized by Thor operating subsidiaries.

	Three Months Ended January 31,						Six Months Ended January 31,
Net sales:	2018			2017			2018			2017
Recreational vehicles
Towables	$	1,373,118		$	1,082,249		$	2,991,619		$	2,293,122
Motorized		559,909			474,972			1,126,520			936,426
Total recreational vehicles		1,933,027			1,557,221			4,118,139			3,229,548
Other		68,013			53,891			150,932			112,887
Intercompany eliminations		(29,480	)		(22,587	)		(65,843	)		(45,379	)
Total	$	1,971,560		$	1,588,525		$	4,203,228		$	3,297,056
	Three Months Ended January 31,						Six Months Ended January 31,
Income (loss) before income taxes:	2018			2017			2018			2017
Recreational vehicles
Towables	$	116,728		$	78,000		$	275,579		$	172,173
Motorized		37,538			28,488			75,124			57,411
Total recreational vehicles		154,266			106,488			350,703			229,584
Other, net		5,290			5,696			13,773			12,074
Corporate		(18,491	)		(13,819	)		(36,320	)		(27,493	)
Total	$	141,065		$	98,365		$	328,156		$	214,165
Total assets:	January 31, 2018			July 31, 2017
Recreational vehicles
Towables	$	1,689,874		$	1,535,029
Motorized		625,140			500,761
Total recreational vehicles		2,315,014			2,035,790
Other, net		159,630			156,996
Corporate		234,315			365,145
Total	$	2,708,959		$	2,557,931
	Three Months Ended January 31,						Six Months Ended January 31,
Depreciation and intangible amortization expense:	2018			2017			2018			2017
Recreational vehicles
Towables	$	17,223		$	18,238		$	34,016		$	39,164
Motorized		2,909			2,246			5,637			4,589
Total recreational vehicles		20,132			20,484			39,653			43,753
Other		2,748			3,012			5,557			6,016
Corporate		395			314			763			636
Total	$	23,275		$	23,810		$	45,973		$	50,405
	Three Months Ended January 31,						Six Months Ended January 31,
Capital acquisitions:	2018			2017			2018			2017
Recreational vehicles
Towables	$	18,821		$	15,453		$	36,413		$	36,318
Motorized		1,754			6,889			14,069			12,045
Total recreational vehicles		20,575			22,342			50,482			48,363
Other		1,983			314			2,593			610
Corporate		7,016			1,141			8,591			1,317
Total	$	29,574		$	23,797		$	61,666		$	50,290