Business Segments

6 Months Ended

Jan. 31, 2016

Business Segments

4. Business Segments

The Company has two reportable segments: (1) towable recreational vehicles and (2) motorized recreational vehicles. The towable recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (towable), Bison, CrossRoads, Heartland (including its wholly-owned subsidiaries CRV and DRV), Keystone, KZ and Livin’ Lite. The motorized recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (motorized) and Thor Motor Coach.

The operations of the Company’s Postle subsidiary, which was acquired May 1, 2015, 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 transacted at established arm’s length transfer prices generally consistent with the selling prices of extrusion components to third party customers.

All manufacturing is conducted in 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 and deferred income tax assets.

	Three Months Ended January  31,					Six Months Ended January 31,
Net sales:	2016			2015		2016			2015
Recreational vehicles:
Towables	$	698,318		$	675,090	$	1,442,997		$	1,374,868
Motorized		242,867			177,326		493,966			399,540
Total recreational vehicles		941,185			852,416		1,936,963			1,774,408
Other		48,011			—		98,393			—
Intercompany eliminations		(14,125	)		—		(29,934	)		—
Total	$	975,071		$	852,416	$	2,005,422		$	1,774,408

	Three Months Ended January  31,						Six Months Ended January 31,
	2016			2015			2016			2015
Income (loss) from continuing operations before income taxes:
Recreational vehicles:
Towables	$	53,069		$	40,320		$	116,293		$	89,619
Motorized		20,519			11,867			42,172			26,968
Total recreational vehicles		73,588			52,187			158,465			116,587
Other, net		3,010			—			5,666			—
Corporate		(10,710	)		(8,050	)		(20,552	)		(15,744	)
Total	$	65,888		$	44,137		$	143,579		$	100,843
	January 31, 2016			July 31, 2015
Total assets:
Recreational vehicles:
Towables	$	928,841		$	907,175
Motorized		220,368			162,940
Total recreational vehicles		1,149,209			1,070,115
Other, net		156,103			161,075
Corporate		281,051			272,058
Total	$	1,586,363		$	1,503,248