Business Segments

9 Months Ended

Apr. 30, 2018

Segment Reporting [Abstract]

Business Segments

3. Business Segments

The Company has two reportable segments, both related to recreational vehicles: (1) towables and (2) motorized. The towable recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (towable), Heartland (including Bison, Cruiser RV and DRV), Jayco (including Jayco towable, Starcraft and Highland Ridge), 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), Jayco (including Jayco motorized and Entegra Coach) and Thor Motor Coach.

The operations of the Company’s Postle subsidiary 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 consummated 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, deferred net income tax and deferred compensation plan assets and certain Corporate real estate holdings primarily utilized by Thor operating subsidiaries.

	Three Months Ended April 30,						Nine Months Ended April 30,
Net sales:	2018			2017			2018			2017
Recreational vehicles
Towables	$	1,608,214		$	1,426,192		$	4,599,833		$	3,719,314
Motorized		598,459			549,883			1,724,979			1,486,309
Total recreational vehicles		2,206,673			1,976,075			6,324,812			5,205,623
Other		82,239			70,019			233,171			182,906
Intercompany eliminations		(37,342	)		(30,870	)		(103,185	)		(76,249	)
Total	$	2,251,570		$	2,015,224		$	6,454,798		$	5,312,280
	Three Months Ended April 30,						Nine Months Ended April 30,
Income (loss) before income taxes:	2018			2017			2018			2017
Recreational vehicles
Towables	$	147,853		$	134,504		$	423,432		$	306,677
Motorized		38,908			37,356			114,032			94,767
Total recreational vehicles		186,761			171,860			537,464			401,444
Other, net		8,872			8,713			22,645			20,787
Corporate		(15,108	)		(14,342	)		(51,428	)		(41,835	)
Total	$	180,525		$	166,231		$	508,681		$	380,396
Total assets:	April 30, 2018			July 31, 2017
Recreational vehicles
Towables	$	1,754,486		$	1,535,029
Motorized		618,190			500,761
Total recreational vehicles		2,372,676			2,035,790
Other, net		158,914			156,996
Corporate		334,892			365,145
Total	$	2,866,482		$	2,557,931
	Three Months Ended April 30,						Nine Months Ended April 30,
Depreciation and intangible amortization expense:	2018			2017			2018			2017
Recreational vehicles
Towables	$	17,357		$	18,213		$	51,373		$	57,377
Motorized		3,004			2,316			8,641			6,905
Total recreational vehicles		20,361			20,529			60,014			64,282
Other		2,762			3,021			8,319			9,037
Corporate		410			343			1,173			979
Total	$	23,533		$	23,893		$	69,506		$	74,298
	Three Months Ended April 30,						Nine Months Ended April 30,
Capital acquisitions:	2018			2017			2018			2017
Recreational vehicles
Towables	$	23,175		$	15,559		$	59,588		$	51,877
Motorized		10,083			12,134			24,152			24,179
Total recreational vehicles		33,258			27,693			83,740			76,056
Other		744			163			3,337			773
Corporate		169			377			8,760			1,694
Total	$	34,171		$	28,233		$	95,837		$	78,523