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Business Segments | 9 Months Ended
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Apr. 30, 2019
Segment Reporting [Abstract] |
Business Segments |
3. | Business Segments
The Company has three reportable segments, all related to recreational vehicles: (1) North American towables, (2) North American motorized and (3) European. The North American 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 Venture RV). The North American 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 European recreational vehicles reportable segment consists solely of the recently acquired EHG business, as discussed in Note 2 to the Condensed Consolidated Financial Statements. EHG includes the operations of 8 RV production facilities producing numerous respected and well-known brands within Europe, including Hymer, Buerstner, Carado, Dethleffs, Etrusco, Laika, LMC, Niesmann+Bischoff, Xplore, Elddis, Compass, Buccaneer, Sunlight and CrossCamp. EHG’s products include numerous types of towable and motorized recreational vehicles, including motorcaravans, caravans, campervans and other RV-related products and services. 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 North American towable and North American motorized segments, which are consummated at established transfer prices generally consistent with the selling prices of extrusion components to third-party customers. 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 income taxes, deferred compensation plan assets and certain Corporate real estate holdings primarily utilized by Thor’s U.S.-based operating subsidiaries.
|  | Three Months Ended April 30, |  |  | Nine Months Ended April 30, |
NET SALES: |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Recreational vehicles |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North American Towables |  | $ | 1,237,255 |  |  | $ | 1,608,214 |  |  | $ | 3,397,917 |  |  | $ | 4,599,833 |
North American Motorized |  |  | 459,238 |  |  |  | 598,459 |  |  |  | 1,261,931 |  |  |  | 1,724,979 |
Total North America |  |  | 1,696,493 |  |  |  | 2,206,673 |  |  |  | 4,659,848 |  |  |  | 6,324,812 |
European |  |  | 767,509 |  |  |  | — |  |  |  | 767,509 |  |  |  | — |
Total recreational vehicles |  |  | 2,464,002 |  |  |  | 2,206,673 |  |  |  | 5,427,357 |  |  |  | 6,324,812 |
Other |  |  | 69,506 |  |  |  | 82,239 |  |  |  | 198,468 |  |  |  | 233,171 |
Intercompany eliminations |  |  | (26,925 | ) |  |  | (37,342 | ) |  |  | (72,690 | ) |  |  | (103,185 | )
Total |  | $ | 2,506,583 |  |  | $ | 2,251,570 |  |  | $ | 5,553,135 |  |  | $ | 6,454,798 |
|  | Three Months Ended April 30, |  |  | Nine Months Ended April 30, |
INCOME (LOSS) BEFORE INCOME TAXES: |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Recreational vehicles |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North American Towables |  | $ | 103,715 |  |  | $ | 147,853 |  |  | $ | 212,325 |  |  | $ | 423,432 |
North American Motorized |  |  | 25,185 |  |  |  | 38,908 |  |  |  | 64,102 |  |  |  | 114,032 |
Total North America |  |  | 128,900 |  |  |  | 186,761 |  |  |  | 276,427 |  |  |  | 537,464 |
European |  |  | (30,947 | ) |  |  | — |  |  |  | (30,947 | ) |  |  | — |
Total recreational vehicles |  |  | 97,953 |  |  |  | 186,761 |  |  |  | 245,480 |  |  |  | 537,464 |
Other, net |  |  | 7,868 |  |  |  | 8,872 |  |  |  | 19,728 |  |  |  | 22,645 |
Corporate |  |  | (64,298 | ) |  |  | (15,108 | ) |  |  | (190,295 | ) |  |  | (51,428 | )
Total |  | $ | 41,523 |  |  | $ | 180,525 |  |  | $ | 74,913 |  |  | $ | 508,681 |
TOTAL ASSETS: |  | April 30, 2019 |  |  | July 31, 2018 |  |  |  |  |  |  |
Recreational vehicles |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North American Towables |  | $ | 1,593,377 |  |  | $ | 1,654,361 |  |  |  |  |  |  |  |  |
North American Motorized |  |  | 521,187 |  |  |  | 492,830 |  |  |  |  |  |  |  |  |
Total North America |  |  | 2,114,564 |  |  |  | 2,147,191 |  |  |  |  |  |  |  |  |
European |  |  | 3,127,221 |  |  |  | — |  |  |  |  |  |  |  |  |
Total recreational vehicles |  |  | 5,241,785 |  |  |  | 2,147,191 |  |  |  |  |  |  |  |  |
Other, net |  |  | 160,661 |  |  |  | 167,965 |  |  |  |  |  |  |  |  |
Corporate |  |  | 569,874 |  |  |  | 463,509 |  |  |  |  |  |  |  |  |
Total |  | $ | 5,972,320 |  |  | $ | 2,778,665 |  |  |  |  |  |  |  |  |
|  | Three Months Ended April 30, |  |  | Nine Months Ended April 30, |
DEPRECIATION AND INTANGIBLE AMORTIZATION EXPENSE: |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Recreational vehicles |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North American Towables |  | $ | 17,097 |  |  | $ | 17,357 |  |  | $ | 50,699 |  |  | $ | 51,373 |
North American Motorized |  |  | 3,494 |  |  |  | 3,004 |  |  |  | 10,373 |  |  |  | 8,641 |
Total North America |  |  | 20,591 |  |  |  | 20,361 |  |  |  | 61,072 |  |  |  | 60,014 |
European |  |  | 27,227 |  |  |  | — |  |  |  | 27,227 |  |  |  | — |
Total recreational vehicles |  |  | 47,818 |  |  |  | 20,361 |  |  |  | 88,299 |  |  |  | 60,014 |
Other |  |  | 2,705 |  |  |  | 2,762 |  |  |  | 7,972 |  |  |  | 8,319 |
Corporate |  |  | 407 |  |  |  | 410 |  |  |  | 1,239 |  |  |  | 1,173 |
Total |  | $ | 50,930 |  |  | $ | 23,533 |  |  | $ | 97,510 |  |  | $ | 69,506 |
|  | Three Months Ended April 30, |  |  | Nine Months Ended April 30, |
CAPITAL ACQUISITIONS: |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Recreational vehicles |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North American Towables |  | $ | 13,013 |  |  | $ | 23,175 |  |  | $ | 49,510 |  |  | $ | 59,588 |
North American Motorized |  |  | 3,088 |  |  |  | 10,083 |  |  |  | 13,316 |  |  |  | 24,152 |
Total North America |  |  | 16,101 |  |  |  | 33,258 |  |  |  | 62,826 |  |  |  | 83,740 |
European |  |  | 15,879 |  |  |  | — |  |  |  | 15,879 |  |  |  | — |
Total recreational vehicles |  |  | 31,980 |  |  |  | 33,258 |  |  |  | 78,705 |  |  |  | 83,740 |
Other |  |  | 248 |  |  |  | 744 |  |  |  | 2,979 |  |  |  | 3,337 |
Corporate |  |  | 419 |  |  |  | 169 |  |  |  | 880 |  |  |  | 8,760 |
Total |  | $ | 32,647 |  |  | $ | 34,171 |  |  | $ | 82,564 |  |  | $ | 95,837 |

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- References No definition available. + Details
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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