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BUSINESS SEGMENTS | 12 Months Ended
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Jul. 31, 2023
Segment Reporting [Abstract] |
BUSINESS SEGMENTS | BUSINESS SEGMENTS The Company has three reportable segments, all related to recreational vehicles: (1) North American Towable Recreational Vehicles, (2) North American Motorized Recreational Vehicles and (3) European Recreational Vehicles. 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), 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), 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 and Airxcel subsidiaries are included in “Other”, along with the operations of Roadpass Digital through December 30, 2022 as discussed in Note 8 to the Consolidated Financial Statements. Net sales included in Other related primarily to the sale of specialized component parts and aluminum extrusions. Intercompany eliminations primarily 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.
|  | 2023 |  | 2022 |  | 2021
NET SALES: |  |  |  |  |  |
Recreational vehicles |  |  |  |  |  |
North American Towable |  | $ | 4,202,628 |  |  | $ | 8,661,945 |  |  | $ | 6,221,928 |
North American Motorized |  | 3,314,170 |  |  | 3,979,647 |  |  | 2,669,391 |
Total North America |  | 7,516,798 |  |  | 12,641,592 |  |  | 8,891,319 |
European |  | 3,037,147 |  |  | 2,887,453 |  |  | 3,200,079 |
Total recreational vehicles |  | 10,553,945 |  |  | 15,529,045 |  |  | 12,091,398 |
Other |  | 777,639 |  |  | 1,225,824 |  |  | 373,174 |
Intercompany eliminations |  | (209,979) |  |  | (442,344) |  |  | (147,192) |
Total |  | $ | 11,121,605 |  |  | $ | 16,312,525 |  |  | $ | 12,317,380 |
INCOME (LOSS) BEFORE INCOME TAXES: |  |  |  |  |  |
Recreational vehicles |  |  |  |  |  |
North American Towable |  | $ | 237,123 |  |  | $ | 1,050,536 |  |  | $ | 658,964 |
North American Motorized |  | 255,207 |  |  | 436,604 |  |  | 202,057 |
Total North America |  | 492,330 |  |  | 1,487,140 |  |  | 861,021 |
European |  | 179,625 |  |  | 87,116 |  |  | 116,576 |
Total recreational vehicles |  | 671,955 |  |  | 1,574,256 |  |  | 977,597 |
Other, net |  | 36,965 |  |  | 110,798 |  |  | 57,674 |
Corporate |  | (209,567) |  |  | (225,190) |  |  | (190,690) |
Total |  | $ | 499,353 |  |  | $ | 1,459,864 |  |  | $ | 844,581 |
|  | 2023 |  | 2022
TOTAL ASSETS: |  |  |  |
Recreational vehicles |  |  |  |
North American Towable |  | $ | 1,429,899 |  |  | $ | 2,040,841 |
North American Motorized |  | 1,268,109 |  |  | 1,239,476 |
Total North America |  | 2,698,008 |  |  | 3,280,317 |
European |  | 2,898,175 |  |  | 2,449,270 |
Total recreational vehicles |  | 5,596,183 |  |  | 5,729,587 |
Other, net |  | 1,048,076 |  |  | 1,272,829 |
Corporate |  | 616,571 |  |  | 405,716 |
Total |  | $ | 7,260,830 |  |  | $ | 7,408,132 |
|  | 2023 |  | 2022 |  | 2021
DEPRECIATION AND INTANGIBLE ASSET AMORTIZATION EXPENSE: |  |  |  |  |  |
Recreational vehicles |  |  |  |  |  |
North American Towable |  | $ | 60,880 |  |  | $ | 65,260 |  |  | $ | 66,078 |
North American Motorized |  | 32,639 |  |  | 29,088 |  |  | 23,153 |
Total North America |  | 93,519 |  |  | 94,348 |  |  | 89,231 |
European |  | 121,464 |  |  | 131,518 |  |  | 127,432 |
Total recreational vehicles |  | 214,983 |  |  | 225,866 |  |  | 216,663 |
Other, net |  | 60,172 |  |  | 56,855 |  |  | 12,220 |
Corporate |  | 1,773 |  |  | 1,732 |  |  | 1,698 |
Total |  | $ | 276,928 |  |  | $ | 284,453 |  |  | $ | 230,581 |
CAPITAL ACQUISITIONS: |  |  |  |  |  |
Recreational vehicles |  |  |  |  |  |
North American Towable |  | $ | 63,898 |  |  | $ | 72,892 |  |  | $ | 35,816 |
North American Motorized |  | 42,902 |  |  | 36,321 |  |  | 22,230 |
Total North America |  | 106,800 |  |  | 109,213 |  |  | 58,046 |
European |  | 65,745 |  |  | 97,328 |  |  | 66,930 |
Total recreational vehicles |  | 172,545 |  |  | 206,541 |  |  | 124,976 |
Other, net |  | 34,190 |  |  | 33,162 |  |  | 5,620 |
Corporate |  | 2,173 |  |  | 858 |  |  | 1,085 |
Total |  | $ | 208,908 |  |  | $ | 240,561 |  |  | $ | 131,681 |
DESTINATION OF NET SALES BY GEOGRAPHIC REGION: |  |  |  |  |  |
United States |  | $ | 7,444,023 |  |  | $ | 12,235,760 |  |  | $ | 8,462,652 |
Germany |  | 1,816,282 |  |  | 1,728,565 |  |  | 1,977,808 |
Other Europe |  | 1,220,158 |  |  | 1,158,563 |  |  | 1,189,747 |
Canada |  | 587,559 |  |  | 1,132,788 |  |  | 638,118 |
Other foreign |  | 53,583 |  |  | 56,849 |  |  | 49,055 |
Total |  | $ | 11,121,605 |  |  | $ | 16,312,525 |  |  | $ | 12,317,380 |
|  | 2023 |  | 2022
PROPERTY, PLANT AND EQUIPMENT BY GEOGRAPHIC REGION: |  |  |  |
United States |  | $ | 806,230 |  |  | $ | 749,343 |
Germany |  | 433,136 |  |  | 397,015 |
Other Europe |  | 139,188 |  |  | 106,921 |
Other |  | 9,254 |  |  | 4,880 |
Total |  | $ | 1,387,808 |  |  | $ | 1,258,159 |

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