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ACQUISITIONS (Tables) | 12 Months Ended
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Jul. 31, 2022
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The Company expects to finalize these values during the first quarter of fiscal 2023.
Cash |  | $ | 23,404 |
Inventory |  | 71,150 |
Other assets |  | 62,657 |
Property, plant and equipment |  | 40,518 |
Amortizable intangible assets: |  |
Customer relationships |  | 284,000 |
Trademarks |  | 56,900 |
Design technology assets |  | 60,600 |
Backlog |  | 700 |
Goodwill |  | 367,926 |
Current liabilities |  | (110,428) |
Deferred income tax liabilities |  | (77,511) |
Other liabilities |  | (10,494) |
Non-controlling interest |  | (739) |
Total fair value of net assets acquired |  | 768,683 |
Less cash acquired |  | (23,404) |
Total cash consideration for acquisition, less cash acquired |  | $ | 745,279 |
The following table summarized the final fair values of the Tiffin Group net assets acquired on the acquisition date.
Cash |  | $ | 13,074 |
Inventory |  | 116,441 |
Other assets |  | 53,860 |
Property, plant and equipment |  | 48,262 |
Amortizable intangible assets: |  |
Dealer network |  | 92,200 |
Trademarks |  | 32,100 |
Non-compete agreements |  | 1,400 |
Backlog |  | 4,800 |
Goodwill |  | 65,064 |
Current liabilities |  | (81,423) |
Deferred income tax liabilities |  | (37,263) |
Other liabilities |  | (7,203) |
Total fair value of net assets acquired |  | 301,312 |
Less cash acquired |  | (13,074) |
Total cash consideration for acquisition, less cash acquired |  | $ | 288,238 |
The table below summarizes the final fair value of Togo Group assets acquired and liabilities assumed as of the 2020 Agreement effective date.
Cash | $ | 326 |
Accounts receivable | 466 |
Other assets | 749 |
Property, plant and equipment | 362 |
Amortizable intangible assets |
Trade names and trademarks | 1,130 |
Developed technology | 5,700 |
Other | 1,350 |
Goodwill | 61,955 |
Liabilities | (2,595) |
Non-controlling interest | (16,835) |
Total fair value of net assets acquired | $ | 52,608 |
Summary of Business Acquisition, Pro Forma Information | The unaudited pro forma information does not reflect any operating efficiencies or cost savings that may have been realized from the integration of these acquisitions.
|  | Fiscal 2022 |  | Fiscal 2021 |  | Fiscal 2020
Net sales |  | $ | 16,359,983 |  |  | $ | 13,075,712 |  |  | $ | 8,870,746 |
Net income attributable to THOR Industries, Inc. |  | $ | 1,144,617 |  |  | $ | 689,198 |  |  | $ | 223,861 |
Basic earnings per common share |  | $ | 20.80 |  |  | $ | 12.46 |  |  | $ | 4.06 |
Diluted earnings per common share |  | $ | 20.71 |  |  | $ | 12.38 |  |  | $ | 4.04 |

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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 https://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 https://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 https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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