Acquisitions (Tables)

6 Months Ended

Jan. 31, 2022

Schedule of recognized identified assets acquired and liabilities assumed

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	62,657
Property, plant and equipment	40,518
Amortizable intangible assets:
Customer relationships	284,000
Trademarks	56,900
Design technology assets	60,600
Backlog	700
Goodwill	368,688
Current liabilities	(109,586)
Deferred income tax liabilities	(79,115)
Other liabilities	(10,494)
Non-controlling interest	(739)
Total fair value of net assets acquired	768,683
Less cash acquired	(23,404)
Total cash consideration for acquisition, less cash acquired	$	745,279

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 January 31,
	2022		2021
Net sales	$	3,875,018	$	2,943,733
Net income attributable to THOR Industries, Inc.	$	266,568	$	148,448
Basic earnings per common share	$	4.80	$	2.68
Diluted earnings per common share	$	4.79	$	2.67


	Six Months Ended January 31,
	2022		2021
Net sales	$	7,880,700	$	5,756,969
Net income attributable to THOR Industries, Inc.	$	515,623	$	266,584
Basic earnings per common share	$	9.30	$	4.82
Diluted earnings per common share	$	9.25	$	4.80