INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Jul. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

The components of amortizable intangible assets are as follows:


	July 31, 2022				July 31, 2021
	Cost		Accumulated Amortization		Cost		Accumulated Amortization
Dealer networks/customer relationships	$	1,090,528	$	420,623	$	861,562	$	327,751
Trademarks	351,152		77,660		311,208		62,675
Design technology and other intangibles	253,918		80,465		215,956		62,237

Non-compete agreements	1,400		758		1,400		292
Total amortizable intangible assets	$	1,696,998	$	579,506	$	1,390,126	$	452,955

Estimated annual amortization expense is as follows:


For the fiscal year ending July 31, 2023	$	140,573
For the fiscal year ending July 31, 2024	128,369
For the fiscal year ending July 31, 2025	116,380
For the fiscal year ending July 31, 2026	104,946
For the fiscal year ending July 31, 2027	96,002
For the fiscal year ending July 31, 2028 and thereafter	531,222
	$	1,117,492

For goodwill impairment testing purposes, the Company’s reporting units are generally the same as its operating segments, which are identified in Note 3 to the Consolidated Financial Statements. During the fiscal quarter ended January 31, 2020, there was an interim impairment assessment performed related to two groups of tangible and intangible assets within the North American towables reportable segment, using Level 3 inputs as defined by ASC 820, as it was determined that each group of assets would be sold before the end of their previously estimated useful lives and within the next twelve months. The Company recognized an aggregate impairment charge of $10,057 related to these assets during the fiscal quarter ended January 31, 2020, which included a goodwill impairment charge of $1,036. The sales of these assets were completed during the fiscal quarter ended April 30, 2020.

The Company completed its annual goodwill impairment test for fiscal 2022 as of May 31, 2022, and no impairment was identified. There were no impairments of goodwill during fiscal 2021 or 2020 other than the impairment of $1,036 in the fiscal quarter ended January 31, 2020 noted above.

Changes in the carrying amount of goodwill by reportable segment as of July 31, 2022 and July 31, 2021 are summarized as follows:


	North American Towables		North American Motorized		European		Other		Total
Net balance as of July 31, 2020	$	333,786	$	—	$	1,037,929	$	104,826	$	1,476,541
Fiscal year 2021 activity:
Goodwill acquired	18,845		43,491		—		17,882		80,218
Measurement period adjustments	(7,656)		10,384		—		—		2,728
Foreign currency translation and other	—		—		3,768		—		3,768

Net balance as of July 31, 2021	$	344,975	$	53,875	$	1,041,697	$	122,708	$	1,563,255
Fiscal year 2022 activity:
Goodwill acquired	—		—		—		389,838		389,838
Measurement period adjustments	—		—		—		(628)		(628)
Foreign currency translation and other	—		—		(148,314)		—		(148,314)

Net balance as of July 31, 2022	$	344,975	$	53,875	$	893,383	$	511,918	$	1,804,151

The components of the goodwill balances as of July 31, 2022 and July 31, 2021 are summarized as follows:


	North American Towables		North American Motorized		European		Other		Total
Goodwill	$	355,124	$	71,127	$	893,383	$	511,918	$	1,831,552
Accumulated impairment charges	(10,149)		(17,252)		—		—		(27,401)
Net balance as of July 31, 2022	$	344,975	$	53,875	$	893,383	$	511,918	$	1,804,151


	North American Towables		North American Motorized		European		Other		Total
Goodwill	$	355,124	$	71,127	$	1,041,697	$	122,708	$	1,590,656
Accumulated impairment charges	(10,149)		(17,252)		—		—		(27,401)
Net balance as of July 31, 2021	$	344,975	$	53,875	$	1,041,697	$	122,708	$	1,563,255