PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Jul. 31, 2015

6. PROPERTY, PLANT AND EQUIPMENT

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


	July 31,
	2015			2014
Land	$	27,447		$	21,592
Buildings and improvements		214,462			175,611
Machinery and equipment		106,959			76,298

Total cost		348,868			273,501
Less accumulated depreciation		(114,823	)		(103,639	)

Net property, plant and equipment	$	234,045		$	169,862

Property, plant and equipment at July 31, 2015 includes buildings and improvements acquired under capital leases of $6,527 and related amortization included in accumulated depreciation of $136.

The Company sold land and buildings and improvements related to a towable RV facility located in the western United States in the fourth quarter of fiscal 2014. The sale resulted in net cash proceeds of $7,352 and a gain on the sale of $1,888, which is included in other income, net in the Consolidated Statements of Income and Comprehensive Income. RV production from this facility was previously 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 existed. As a result of these assessments, a non-cash impairment charge of $710 was recognized in the quarter ended October 31, 2013.

During the fourth quarter of fiscal 2013, the Company determined it was more likely than not that certain RV facilities would be sold before the end of their previously estimated useful life and therefore, performed impairment assessments over these facilities using Level 3 inputs as defined by ASC 820 to determine whether an impairment existed. As a result, a non-cash impairment charge of $2,000 was recognized in the quarter ended July 31, 2013.