PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Jul. 31, 2016

PROPERTY, PLANT AND EQUIPMENT

6.   PROPERTY, PLANT AND EQUIPMENT

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

	July 31,
	2016			2015
Land	$	46,422		$	27,447
Buildings and improvements		300,902			214,462
Machinery and equipment		133,112			106,959
Total cost		480,436			348,868
Less accumulated depreciation		(136,169	)		(114,823	)
Net property, plant and equipment	$	344,267		$	234,045

Property, plant and equipment at both July 31, 2016 and July 31, 2015 includes buildings and improvements acquired under capital leases of $6,527, and includes related amortization included in accumulated depreciation of $680 and $136, respectively. The fiscal 2016 acquisition of Jayco accounted for $84,507 of the $110,222 increase in fiscal 2016 in net property, plant and equipment.

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.