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Acquisition - Erwin Hymer Group (Tables) | 6 Months Ended
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Jan. 31, 2020
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the estimated fair values of the EHG assets acquired and liabilities assumed at the acquisition date. The Company is in the process of finalizing internal and third-party valuations of certain fixed assets and certain liabilities, therefore, the provisional estimates of fixed assets, goodwill, deferred income tax liabilities, income taxes payable and certain accrued liabilities are subject to change. The Company expects to finalize these values in the Company's fiscal quarter ending April 30, 2020.
Cash |  |  |  | $ | 97,887 |
Inventory |  |  |  | 593,053 |
Other assets |  |  |  | 426,096 |
Property, plant and equipment - rental vehicles |  |  |  | 80,132 |
Property, plant and equipment |  |  |  | 444,772 |
Amortizable intangible assets: |  |  |  |
Dealer network |  |  |  | 355,601 |
Trademarks |  |  |  | 126,181 |
Technology assets |  |  |  | 183,536 |
Backlog |  |  |  | 11,471 |
Goodwill |  |  |  | 1,013,559 |
Guarantee liabilities related to former EHG North American subsidiaries |  |  |  | (115,668) |
Other current liabilities |  |  |  | (850,623) |
Debt – Unsecured notes |  |  |  | (114,710) |
Debt – Other |  |  |  | (166,196) |
Deferred income tax liabilities |  |  |  | (155,047) |
Other long-term liabilities |  |  |  | (17,205) |
Non-controlling interests |  |  |  | (12,207) |
Total fair value of net assets acquired |  |  |  | 1,900,632 |
Less: cash acquired |  |  |  | (97,887) |
Total fair value of net assets acquired, less cash acquired |  |  |  | $ | 1,802,745 |
Business Acquisition, Pro Forma Information | The following unaudited pro forma information represents the Company’s results of operations as if the fiscal 2019 acquisition of EHG had occurred at the beginning of fiscal 2018. These performance results may not be indicative of the actual results that would have occurred under the ownership and management of the Company.
|  |  | Three Months Ended January 31, |  |  |  | Six Months Ended January 31,
|  |  | 2019 |  |  |  | 2019
Net sales |  |  | $ | 1,932,693 |  |  |  |  | $ | 4,259,961 |
Net (loss) |  |  | $ | (27,195) |  |  |  |  | $ | (4,734) |
Basic (loss) per common share |  |  | $ | (0.49) |  |  |  |  | $ | (0.08) |
Diluted (loss) per common share |  |  | $ | (0.49) |  |  |  |  | $ | (0.08) |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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