Business Segments

9 Months Ended

Apr. 30, 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), Heartland (including Bison and CRV/DRV), Keystone (including CrossRoads and Dutchmen) and KZ (including 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 within 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 April 30,					Nine Months Ended April 30,
Net sales:	2016			2015		2016			2015
Recreational vehicles:
Towables	$	934,574		$	919,358	$	2,377,571		$	2,294,226
Motorized		307,630			254,897		801,596			654,437
Total recreational vehicles		1,242,204			1,174,255		3,179,167			2,948,663
Other		61,572			—		159,965			—
Intercompany eliminations		(19,722	)		—		(49,656	)		—
Total	$	1,284,054		$	1,174,255	$	3,289,476		$	2,948,663

	Three Months Ended April 30,						Nine Months Ended April 30,
Income (loss) from continuing operations before income taxes:	2016			2015			2016			2015
Recreational vehicles:
Towables	$	96,893		$	83,771		$	213,186		$	173,390
Motorized		24,115			19,853			66,287			46,821
Total recreational vehicles		121,008			103,624			279,473			220,211
Other, net		6,441			—			12,107			—
Corporate		(11,166	)		(9,063	)		(31,718	)		(24,807	)
Total	$	116,283		$	94,561		$	259,862		$	195,404
Total assets:	April 30, 2016			July 31, 2015
Recreational vehicles:
Towables	$	971,768		$	907,175
Motorized		235,762			162,940
Total recreational vehicles		1,207,530			1,070,115
Other, net		162,900			161,075
Corporate		327,450			272,058
Total	$	1,697,880		$	1,503,248