Acquisitions (Tables)

3 Months Ended

Oct. 31, 2021

Schedule of recognized identified assets acquired and liabilities assumed

The following table summarizes the preliminary estimated fair values of the Airxcel net assets acquired on the acquisition date. The Company is in the process of conducting a fair value analysis. While all amounts remain subject to adjustment, the areas subject to the most significant potential adjustment are intangible assets, deferred income tax liabilities and certain accrued expenses. The Company expects to finalize these values as soon as practical and no later than one year from the acquisition date.


Cash	$	23,404
Inventory	71,150
Other assets	61,921
Property, plant and equipment	40,853
Amortizable intangible assets:
Customer relationships	284,000
Trademarks	56,900
Design technology assets	60,600
Backlog	700
Goodwill	368,639
Current liabilities	(109,336)
Deferred income tax liabilities	(79,115)
Other liabilities	(10,494)
Non-controlling interest	(739)
Total fair value of net assets acquired	768,483
Less cash acquired	(23,404)
Total cash consideration for acquisition, less cash acquired	$	745,079

The following table summarizes the final fair values of the Tiffin Group net assets acquired on 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	65,064
Current liabilities	(81,423)
Deferred income tax liabilities	(37,263)
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

Business acquisition pro forma information

The following unaudited pro forma information represents the Company’s results of operations as if the fiscal 2022 acquisition of Airxcel had occurred at the beginning of fiscal 2021 and the fiscal 2021 acquisition of the Tiffin Group had occurred at the beginning of fiscal 2020. These pro forma results may not be indicative of the actual results that would have occurred under the ownership and management of the Company.


	Three Months Ended		Three Months Ended
	October 31, 2021		October 31, 2020
Net sales	$	4,005,682	$	2,813,236
Net income attributable to THOR Industries, Inc.	$	249,055	$	117,489
Basic earnings per common share	$	4.49	$	2.13
Diluted earnings per common share	$	4.46	$	2.11