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BUSINESS SEGMENTS
 12 Months Ended
Jul. 31, 2014
BUSINESS SEGMENTS

4.   BUSINESS SEGMENTS

The Company has two reportable segments: (1) towable recreational vehicles and (2) motorized recreational vehicles. The towables recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (towable), CrossRoads, Keystone (including Dutchmen, which was merged into Keystone during the second quarter of fiscal 2014), Heartland, Livin’ Lite, Bison and KZ. The motorized recreational vehicle reportable segment consists of the following operating segments that have been aggregated: Airstream (motorized) and Thor Motor Coach.

All manufacturing is conducted in the United States. Total assets include those assets used in the operation of each reportable segment, and the Corporate assets primarily consist of cash and cash equivalents and deferred income tax assets.

 

           2014                  2013                  2012        

Net sales:

         

Recreational vehicles

         

Towables

     $   2,721,625       $   2,650,253       $   2,285,863   

Motorized

      803,831         591,542         353,935   
  

 

 

     

 

 

     

 

 

  

Total

    $ 3,525,456       $ 3,241,795       $ 2,639,798   
  

 

 

     

 

 

     

 

 

  

 

           2014                 2013                 2012        

Income (loss) from continuing operations before income taxes:

       

Recreational vehicles

       

Towables

     $   221,123      $   205,724      $   158,973   

Motorized

      57,277        43,907        18,469   
  

 

 

    

 

 

    

 

 

  

Total recreational vehicles

      278,400        249,631        177,442   

Corporate

      (25,581 )      (27,659 )      (12,054 ) 
  

 

 

    

 

 

    

 

 

  

Total

    $ 252,819      $ 221,972      $ 165,388   
  

 

 

    

 

 

    

 

 

  

Total assets:

       

Recreational vehicles

       

Towables

    $ 868,017      $ 759,658      $ 734,439   

Motorized

      170,251        126,123        82,904   
  

 

 

    

 

 

    

 

 

  

Total recreational vehicles

      1,038,268        885,781        817,343   

Corporate

      370,450        305,981        282,387   

Bus

      –        –        143,324   

Assets of discontinued operations

      –        136,506        –   
  

 

 

    

 

 

    

 

 

  

Total

     $     1,408,718       $     1,328,268       $     1,243,054   
  

 

 

    

 

 

    

 

 

  

Depreciation and amortization expense:

       

Recreational vehicles

       

Towables

    $ 22,192      $ 19,888      $ 20,010   

Motorized

      2,359        2,040        2,122   
  

 

 

    

 

 

    

 

 

  

Total recreational vehicles

      24,551        21,928        22,132   

Corporate

      724        322        309   

Discontinued operations

      559        2,737        2,537   
  

 

 

    

 

 

    

 

 

  

Total

    $ 25,834      $ 24,987      $ 24,978   
  

 

 

    

 

 

    

 

 

  

Capital acquisitions:

       

Recreational vehicles

       

Towables

    $ 16,914      $ 13,954      $ 8,830   

Motorized

      5,942        1,673        798   
  

 

 

    

 

 

    

 

 

  

Total recreational vehicles

      22,856        15,627        9,628   

Corporate

      7,519        8,143        43   

Discontinued operations

      63        420        771   
  

 

 

    

 

 

    

 

 

  

Total

    $ 30,438      $ 24,190      $ 10,442   
  

 

 

    

 

 

    

 

 

  

Export sales, primarily to Canada, from the Company’s continuing U.S. operations were $521,818, $537,374 and $456,073 in fiscal 2014, 2013 and 2012, respectively.