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INTANGIBLE ASSETS AND GOODWILL | 12 Months Ended
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Jul. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS AND GOODWILL | INTANGIBLE ASSETS AND GOODWILL The components of amortizable intangible assets are as follows:
|  |  | July 31, 2022 |  | July 31, 2021
|  |  | Cost |  | Accumulated Amortization |  | Cost |  | Accumulated Amortization
Dealer networks/customer relationships |  |  | $ | 1,090,528 |  |  | $ | 420,623 |  |  | $ | 861,562 |  |  | $ | 327,751 |
Trademarks |  |  | 351,152 |  |  | 77,660 |  |  | 311,208 |  |  | 62,675 |
Design technology and other intangibles |  |  | 253,918 |  |  | 80,465 |  |  | 215,956 |  |  | 62,237 |
Non-compete agreements |  |  | 1,400 |  |  | 758 |  |  | 1,400 |  |  | 292 |
Total amortizable intangible assets |  |  | $ | 1,696,998 |  |  | $ | 579,506 |  |  | $ | 1,390,126 |  |  | $ | 452,955 |
Estimated annual amortization expense is as follows:
For the fiscal year ending July 31, 2023 | $ | 140,573 |
For the fiscal year ending July 31, 2024 | 128,369 |
For the fiscal year ending July 31, 2025 | 116,380 |
For the fiscal year ending July 31, 2026 | 104,946 |
For the fiscal year ending July 31, 2027 | 96,002 |
For the fiscal year ending July 31, 2028 and thereafter | 531,222 |
| $ | 1,117,492 |
For goodwill impairment testing purposes, the Company’s reporting units are generally the same as its operating segments, which are identified in Note 3 to the Consolidated Financial Statements. During the fiscal quarter ended January 31, 2020, there was an interim impairment assessment performed related to two groups of tangible and intangible assets within the North American towables reportable segment, using Level 3 inputs as defined by ASC 820, as it was determined that each group of assets would be sold before the end of their previously estimated useful lives and within the next twelve months. The Company recognized an aggregate impairment charge of $10,057 related to these assets during the fiscal quarter ended January 31, 2020, which included a goodwill impairment charge of $1,036. The sales of these assets were completed during the fiscal quarter ended April 30, 2020. The Company completed its annual goodwill impairment test for fiscal 2022 as of May 31, 2022, and no impairment was identified. There were no impairments of goodwill during fiscal 2021 or 2020 other than the impairment of $1,036 in the fiscal quarter ended January 31, 2020 noted above. Changes in the carrying amount of goodwill by reportable segment as of July 31, 2022 and July 31, 2021 are summarized as follows:
|  | North American Towables |  | North American Motorized |  | European |  | Other |  | Total
Net balance as of July 31, 2020 |  | $ | 333,786 |  |  | $ | — |  |  | $ | 1,037,929 |  |  | $ | 104,826 |  |  | $ | 1,476,541 |
Fiscal year 2021 activity: |  |  |  |  |  |  |  |  |  |
Goodwill acquired |  | 18,845 |  |  | 43,491 |  |  | — |  |  | 17,882 |  |  | 80,218 |
Measurement period adjustments |  | (7,656) |  |  | 10,384 |  |  | — |  |  | — |  |  | 2,728 |
Foreign currency translation and other |  | — |  |  | — |  |  | 3,768 |  |  | — |  |  | 3,768 |
Net balance as of July 31, 2021 |  | $ | 344,975 |  |  | $ | 53,875 |  |  | $ | 1,041,697 |  |  | $ | 122,708 |  |  | $ | 1,563,255 |
Fiscal year 2022 activity: |  |  |  |  |  |  |  |  |  |
Goodwill acquired |  | — |  |  | — |  |  | — |  |  | 389,838 |  |  | 389,838 |
Measurement period adjustments |  | — |  |  | — |  |  | — |  |  | (628) |  |  | (628) |
Foreign currency translation and other |  | — |  |  | — |  |  | (148,314) |  |  | — |  |  | (148,314) |
Net balance as of July 31, 2022 |  | $ | 344,975 |  |  | $ | 53,875 |  |  | $ | 893,383 |  |  | $ | 511,918 |  |  | $ | 1,804,151 |
The components of the goodwill balances as of July 31, 2022 and July 31, 2021 are summarized as follows:
|  | North American Towables |  | North American Motorized |  | European |  | Other |  | Total
Goodwill |  | $ | 355,124 |  |  | $ | 71,127 |  |  | $ | 893,383 |  |  | $ | 511,918 |  |  | $ | 1,831,552 |
Accumulated impairment charges |  | (10,149) |  |  | (17,252) |  |  | — |  |  | — |  |  | (27,401) |
Net balance as of July 31, 2022 |  | $ | 344,975 |  |  | $ | 53,875 |  |  | $ | 893,383 |  |  | $ | 511,918 |  |  | $ | 1,804,151 |
|  | North American Towables |  | North American Motorized |  | European |  | Other |  | Total
Goodwill |  | $ | 355,124 |  |  | $ | 71,127 |  |  | $ | 1,041,697 |  |  | $ | 122,708 |  |  | $ | 1,590,656 |
Accumulated impairment charges |  | (10,149) |  |  | (17,252) |  |  | — |  |  | — |  |  | (27,401) |
Net balance as of July 31, 2021 |  | $ | 344,975 |  |  | $ | 53,875 |  |  | $ | 1,041,697 |  |  | $ | 122,708 |  |  | $ | 1,563,255 |

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