XML 56 R42.htm IDEA: XBRL DOCUMENT
v3.25.2

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Jul. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Sources of Income Before Income Taxes | The sources of income before income taxes are as follows:
|  | For the Fiscal Years Ended July 31,
|  | 2025 |  | 2024 |  | 2023
United States |  | $ | 180,390 |  |  | $ | 115,618 |  |  | $ | 315,939 |
Foreign |  | 115,801 |  |  | 233,226 |  |  | 183,414 |
Total |  | $ | 296,191 |  |  | $ | 348,844 |  |  | $ | 499,353 |
Schedule of Components of Provision for Income Taxes | The components of the provision for income taxes are as follows:
|  | For the Fiscal Years Ended July 31,
Income Taxes: |  | 2025 |  | 2024 |  | 2023
U.S. Federal |  | $ | 37,250 |  |  | $ | 52,832 |  |  | $ | 102,919 |
U.S. state and local |  | 10,660 |  |  | 10,372 |  |  | 14,803 |
Foreign |  | 20,750 |  |  | 48,242 |  |  | 45,174 |
Total current expense |  | 68,660 |  |  | 111,446 |  |  | 162,896 |
U.S. Federal |  | (4,997) |  |  | (22,236) |  |  | (28,819) |
U.S. state and local |  | 268 |  |  | (4,116) |  |  | (3,447) |
Foreign |  | (24,331) |  |  | (1,650) |  |  | (5,517) |
Total deferred expense (benefit) |  | (29,060) |  |  | (28,002) |  |  | (37,783) |
Total income tax expense |  | $ | 39,600 |  |  | $ | 83,444 |  |  | $ | 125,113 |
Schedule of Differences Between Income Tax Expense at Federal Statutory Rate and Actual Income Taxes | The differences between income tax expense at the federal statutory rate and the actual income tax expense are as follows:
|  | For the Fiscal Years Ended July 31,
|  | 2025 |  | 2024 |  | 2023
Provision at federal statutory rate |  | $ | 62,200 |  |  | $ | 73,257 |  |  | $ | 104,864 |
Differences between U.S. Federal statutory and foreign tax rates |  | (38,152) |  |  | 3,821 |  |  | (41,300) |
Foreign currency remeasurement (gains) losses |  | 21,522 |  |  | (7,621) |  |  | 33,737 |
U.S. state and local income taxes, net of federal benefit |  | 7,779 |  |  | 4,840 |  |  | 9,524 |
Nondeductible compensation |  | 4,133 |  |  | 3,976 |  |  | 4,413 |
Effect of foreign tax law change |  | (15,314) |  |  | — |  |  | — |
Contingent liability accrual and settlement |  | — |  |  | (7,456) |  |  | — |
Global Intangible Low-Taxed Income |  | — |  |  | 12,068 |  |  | 10,936 |
Other |  | (2,568) |  |  | 559 |  |  | 2,939 |
Total income tax expense |  | $ | 39,600 |  |  | $ | 83,444 |  |  | $ | 125,113 |
Schedule of Deferred Income Tax Balances | A summary of the deferred income tax balances is as follows:
|  | July 31,
|  | 2025 |  | 2024
Deferred income tax asset (liability): |  |  |  |
Inventory basis |  | $ | 11,550 |  |  | $ | 10,019 |
Employee benefits |  | 14,040 |  |  | 10,146 |
Self-insurance reserves |  | 4,531 |  |  | 5,021 |
Accrued product warranties |  | 59,008 |  |  | 62,687 |
Accrued incentives |  | 6,340 |  |  | 7,335 |
Sales returns and allowances |  | 2,942 |  |  | 2,544 |
Accrued expenses |  | 6,030 |  |  | 6,409 |
Property, plant and equipment |  | (43,112) |  |  | (45,494) |
Operating leases |  | 9,998 |  |  | 10,970 |
Deferred compensation |  | 32,591 |  |  | 31,359 |
Intangibles |  | (182,057) |  |  | (197,012) |
Net operating loss and other carryforwards |  | 37,049 |  |  | 30,861 |
Unrealized (gain) loss |  | 5,711 |  |  | 737 |
Unrecognized tax benefits |  | 2,684 |  |  | 2,161 |
Research and development |  | 22,021 |  |  | 20,237 |
Other |  | 6,280 |  |  | 8,709 |
Valuation allowance |  | (14,342) |  |  | (12,676) |
Deferred income tax (liability), net |  | $ | (18,736) |  |  | $ | (45,987) |
Schedule of Changes in Unrecognized Tax Benefit | Changes in the unrecognized tax benefit during fiscal years 2025, 2024 and 2023 were as follows:
|  | 2025 |  | 2024 |  | 2023
Beginning balance |  | $ | 10,434 |  |  | $ | 13,712 |  |  | $ | 17,998 |
Tax positions related to prior years: |  |  |  |  |  |
Additions |  | 1,201 |  |  | 1,692 |  |  | 649 |
Reductions |  | (648) |  |  | (1,977) |  |  | (1,588) |
Tax positions related to current year: |  |  |  |  |  |
Additions |  | 10,598 |  |  | 386 |  |  | 974 |
Settlements |  | — |  |  | (2,133) |  |  | (2,531) |
Lapses in statute of limitations |  | (1,410) |  |  | (1,246) |  |  | (1,790) |
Ending balance |  | $ | 20,175 |  |  | $ | 10,434 |  |  | $ | 13,712 |
Schedule of Components of Total Unrecognized Tax Benefits | The components of total unrecognized tax benefits are summarized as follows:
|  | July 31,
|  | 2025 |  | 2024
Unrecognized tax benefits |  | $ | 20,175 |  |  | $ | 10,434 |
Reduction to unrecognized tax benefits for deferred tax assets |  | (10,263) |  |  | (605) |
Accrued interest and penalties |  | 3,776 |  |  | 2,576 |
Total unrecognized tax benefits |  | $ | 13,688 |  |  | $ | 12,405 |
Short-term, included in “Income and other taxes” |  | $ | 1,513 |  |  | $ | — |
Long-term |  | 12,175 |  |  | 12,405 |
Total unrecognized tax benefits |  | $ | 13,688 |  |  | $ | 12,405 |
Schedule of Income Tax Examinations | The major tax jurisdictions we file in, with the years still subject to income tax examinations, are listed below:
Major Tax Jurisdiction |  | Tax Years Subject to Exam
United States – Federal |  | Fiscal 2022 – Fiscal 2024
United States – State |  | Fiscal 2022 – Fiscal 2024
Germany |  | Fiscal 2016 – Fiscal 2023
France |  | Fiscal 2022 – Fiscal 2024
Italy |  | Fiscal 2016 – Fiscal 2023
United Kingdom |  | Fiscal 2024

X
- Definition Schedule Of Differences Between Income Tax Expense At Federal Statutory Rate And Actual Income Taxes [Table Text Block] + References No definition available. + Details
Name: | tho_ScheduleOfDifferencesBetweenIncomeTaxExpenseAtFederalStatutoryRateAndActualIncomeTaxesTableTextBlock
Namespace Prefix: | tho_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Unrecognized Tax Benefits [Table Text Block] + References No definition available. + Details
Name: | tho_ScheduleOfUnrecognizedTaxBenefitsTableTextBlock
Namespace Prefix: | tho_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15 + Details
Name: | us-gaap_SummaryOfIncomeTaxExaminationsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration