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BUSINESS SEGMENTS | 12 Months Ended
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Jul. 31, 2022
Segment Reporting [Abstract] |
BUSINESS SEGMENTS | 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 Cruiser RV and DRV), Jayco (including Jayco towable, Starcraft and Highland Ridge), Keystone (including CrossRoads and Dutchmen), KZ (including Venture RV) and Tiffin Group (namely, Vanleigh 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), Thor Motor Coach and Tiffin Group (namely, Tiffin Motorhomes, Inc.). The European recreational vehicles reportable segment consists solely of the EHG business. EHG manufactures a full line of towable and motorized recreational vehicles, including caravans, motorcaravans, urban vehicles and campervans in eight primary RV production locations within Europe. EHG produces and sells numerous brands primarily within Europe, including Buccaneer, Buerstner, Carado, Compass, CrossCamp, Dethleffs, Elddis, Eriba, Etrusco, Hymer, Laika, LMC, Niesmann+Bischoff, Sunlight and Xplore. In addition, EHG’s operations include other RV-related products and services. The operations of the Company’s Postle, Roadpass Digital (formerly Togo Group) and Airxcel subsidiaries are included in “Other”. Net sales included in Other relate primarily to the sale of specialized component parts and aluminum extrusions. Intercompany eliminations adjust for Postle and Airxcel sales to the Company’s North American Towables and North American Motorized segments, which are consummated at established transfer prices generally consistent with the selling prices of products to third parties. 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.
|  | 2022 |  | 2021 |  | 2020
NET SALES: |  |  |  |  |  |
Recreational vehicles |  |  |  |  |  |
North American Towables |  | $ | 8,661,945 |  |  | $ | 6,221,928 |  |  | $ | 4,140,482 |
North American Motorized |  | 3,979,647 |  |  | 2,669,391 |  |  | 1,390,098 |
Total North America |  | 12,641,592 |  |  | 8,891,319 |  |  | 5,530,580 |
European |  | 2,887,453 |  |  | 3,200,079 |  |  | 2,485,391 |
Total recreational vehicles |  | 15,529,045 |  |  | 12,091,398 |  |  | 8,015,971 |
Other |  | 1,225,824 |  |  | 373,174 |  |  | 234,481 |
Intercompany eliminations |  | (442,344) |  |  | (147,192) |  |  | (82,519) |
Total |  | $ | 16,312,525 |  |  | $ | 12,317,380 |  |  | $ | 8,167,933 |
INCOME (LOSS) BEFORE INCOME TAXES: |  |  |  |  |  |
Recreational vehicles |  |  |  |  |  |
North American Towables |  | $ | 1,050,536 |  |  | $ | 658,964 |  |  | $ | 336,207 |
North American Motorized |  | 436,604 |  |  | 202,057 |  |  | 71,943 |
Total North America |  | 1,487,140 |  |  | 861,021 |  |  | 408,150 |
European |  | 87,116 |  |  | 116,576 |  |  | 9,850 |
Total recreational vehicles |  | 1,574,256 |  |  | 977,597 |  |  | 418,000 |
Other, net |  | 110,798 |  |  | 57,674 |  |  | 27,751 |
Corporate |  | (225,190) |  |  | (190,690) |  |  | (172,855) |
Total |  | $ | 1,459,864 |  |  | $ | 844,581 |  |  | $ | 272,896 |
|  | 2022 |  | 2021
TOTAL ASSETS: |  |  |  |
Recreational vehicles |  |  |  |
North American Towables |  | $ | 2,040,841 |  |  | $ | 1,870,577 |
North American Motorized |  | 1,239,476 |  |  | 1,073,506 |
Total North America |  | 3,280,317 |  |  | 2,944,083 |
European |  | 2,449,270 |  |  | 2,975,821 |
Total recreational vehicles |  | 5,729,587 |  |  | 5,919,904 |
Other, net |  | 1,272,829 |  |  | 272,350 |
Corporate |  | 405,716 |  |  | 461,834 |
Total |  | $ | 7,408,132 |  |  | $ | 6,654,088 |
|  | 2022 |  | 2021 |  | 2020
DEPRECIATION AND INTANGIBLE ASSET AMORTIZATION EXPENSE: |  |  |  |  |  |
Recreational vehicles |  |  |  |  |  |
North American Towables |  | $ | 65,260 |  |  | $ | 66,078 |  |  | $ | 66,042 |
North American Motorized |  | 29,088 |  |  | 23,153 |  |  | 14,202 |
Total North America |  | 94,348 |  |  | 89,231 |  |  | 80,244 |
European |  | 131,518 |  |  | 127,432 |  |  | 103,671 |
Total recreational vehicles |  | 225,866 |  |  | 216,663 |  |  | 183,915 |
Other, net |  | 56,855 |  |  | 12,220 |  |  | 10,488 |
Corporate |  | 1,732 |  |  | 1,698 |  |  | 1,764 |
Total |  | $ | 284,453 |  |  | $ | 230,581 |  |  | $ | 196,167 |
CAPITAL ACQUISITIONS: |  |  |  |  |  |
Recreational vehicles |  |  |  |  |  |
North American Towables |  | $ | 72,892 |  |  | $ | 35,816 |  |  | $ | 27,219 |
North American Motorized |  | 36,321 |  |  | 22,230 |  |  | 12,603 |
Total North America |  | 109,213 |  |  | 58,046 |  |  | 39,822 |
European |  | 97,328 |  |  | 66,930 |  |  | 62,165 |
Total recreational vehicles |  | 206,541 |  |  | 124,976 |  |  | 101,987 |
Other, net |  | 33,162 |  |  | 5,620 |  |  | 2,664 |
Corporate |  | 858 |  |  | 1,085 |  |  | 1,172 |
Total |  | $ | 240,561 |  |  | $ | 131,681 |  |  | $ | 105,823 |
DESTINATION OF NET SALES BY GEOGRAPHIC REGION: |  |  |  |  |  |
United States |  | $ | 12,235,760 |  |  | $ | 8,462,652 |  |  | $ | 5,296,482 |
Germany |  | 1,728,565 |  |  | 1,977,808 |  |  | 1,494,419 |
Other Europe |  | 1,158,563 |  |  | 1,189,747 |  |  | 966,023 |
Canada |  | 1,132,788 |  |  | 638,118 |  |  | 377,053 |
Other foreign |  | 56,849 |  |  | 49,055 |  |  | 33,956 |
Total |  | $ | 16,312,525 |  |  | $ | 12,317,380 |  |  | $ | 8,167,933 |
|  | 2022 |  | 2021
PROPERTY, PLANT AND EQUIPMENT BY GEOGRAPHIC REGION: |  |  |  |
United States |  | $ | 749,343 |  |  | $ | 626,375 |
Germany |  | 397,015 |  |  | 460,446 |
Other Europe |  | 106,921 |  |  | 95,266 |
Other |  | 4,880 |  |  | 3,044 |
Total |  | $ | 1,258,159 |  |  | $ | 1,185,131 |

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