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INTANGIBLE ASSETS, GOODWILL AND LONG-LIVED ASSETS | 12 Months Ended
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Jul. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS, GOODWILL AND LONG-LIVED ASSETS | 7. INTANGIBLE ASSETS, GOODWILL AND LONG-LIVED ASSETS The components of amortizable intangible assets are as follows:
|  |  |  |  |  |  | July 31, 2018 |  |  | July 31, 2017 |
|  | Weighted-Average Remaining Life in Years at July 31, 2018 |  |  |  |  | Cost |  |  | Accumulated Amortization |  |  | Cost |  |  | Accumulated Amortization |
Dealer networks/customer relationships |  | 16 |  |  |  |  |  | $ | 404,960 |  |  | $ | 147,077 |  |  | $ | 404,960 |  |  | $ | 101,795 |
Trademarks |  | 17 |  |  |  |  |  |  | 146,117 |  |  |  | 24,364 |  |  |  | 147,617 |  |  |  | 17,570 |
Design technology and other intangibles |  | 7 |  |  |  |  |  |  | 18,200 |  |  |  | 9,555 |  |  |  | 19,300 |  |  |  | 9,203 |
Non-compete agreements |  | 1 |  |  |  |  |  |  | 450 |  |  |  | 383 |  |  |  | 450 |  |  |  | 293 |
Total amortizable intangible assets |  |  |  |  |  |  |  | $ | 569,727 |  |  | $ | 181,379 |  |  | $ | 572,327 |  |  | $ | 128,861 |
The dealer networks and customer relationships are being amortized on an accelerated basis. Trademarks, design technology and other intangibles and non-compete agreements are amortized on a straight-line basis. Estimated amortization expense for future years is as follows:
For the fiscal year ending July 31, 2019 |  | $ | 50,043 |
For the fiscal year ending July 31, 2020 |  |  | 46,194 |
For the fiscal year ending July 31, 2021 |  |  | 42,860 |
For the fiscal year ending July 31, 2022 |  |  | 37,753 |
For the fiscal year ending July 31, 2023 |  |  | 30,291 |
For the fiscal year ending July 31, 2024 and thereafter |  |  | 181,207 |
|  | $ | 388,348 |
During the second quarter of fiscal 2016, the Company determined that sufficient evidence existed to warrant an interim goodwill impairment analysis for one of its reporting units. As a result of this analysis, the Company recorded a pre-tax, non-cash goodwill impairment charge of $9,113 in the second quarter of fiscal 2016 related to this reporting unit within the towables reportable segment. For the purpose of this goodwill test, the fair value of the reporting unit was determined by employing a discounted cash flow model, which utilized Level 3 inputs as defined by ASC 820 and discussed in Note 10 to the Consolidated Financial Statements. The $9,113 charge represents the full impairment of the goodwill related to this reporting unit. The Company’s reporting units are generally the same as its operating segments, which are identified in Note 4 to the Consolidated Financial Statements. Fair values are determined by a discounted cash flow model. These estimates are subject to significant management judgment, including the determination of many factors such as sales growth rates, gross margin patterns, cost growth rates, terminal value assumptions and discount rates, and therefore largely represent Level 3 inputs as defined by ASC 820 and discussed in Note 10 to the Consolidated Financial Statements. Changes in these estimates can have a significant impact on the determination of cash flows and fair value and could potentially result in future material impairments. The Company completed its annual impairment review as of May 31, 2018, and no impairment was identified. Changes in the carrying amount of goodwill by reportable segment as of July 31, 2018 and 2017 are summarized as follows:
|  | Towables |  |  | Motorized |  |  | Other |  |  | Total |
Net balance as of July 31, 2016 |  | $ | 334,822 |  |  | $ | – |  |  | $ | 42,871 |  |  | $ | 377,693 |
Fiscal year 2017 activity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
No activity |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Net balance as of July 31, 2017 |  | $ | 334,822 |  |  | $ | – |  |  | $ | 42,871 |  |  | $ | 377,693 |
Fiscal year 2018 activity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
No activity |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Net balance as of July 31, 2018 |  | $ | 334,822 |  |  | $ | – |  |  | $ | 42,871 |  |  | $ | 377,693 |
The components of the net balance as of July 31, 2018 are summarized as follows: |
|  | Towables |  |  | Motorized |  |  | Other |  |  | Total |
Goodwill |  | $ | 343,935 |  |  | $ | 17,252 |  |  | $ | 42,871 |  |  | $ | 404,058 |
Accumulated impairment charges |  |  | (9,113 | ) |  |  | (17,252 | ) |  |  | – |  |  |  | (26,365 | )
Net balance as of July 31, 2018 |  | $ | 334,822 |  |  | $ | – |  |  | $ | 42,871 |  |  | $ | 377,693

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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