Thor Industries (THO) 10-Q 8 Dec 20 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Oct. 31, 2020	Nov. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 31, 2020
Document Transition Report	false
Entity File Number	001-09235
Entity Registrant Name	THOR INDUSTRIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	93-0768752
Entity Address, Address Line One	601 E. Beardsley Ave.
Entity Address, City or Town	Elkhart
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46514
City Area Code	(574)
Local Phone Number	970-7460
Title of 12(b) Security	Common stock (Par value $.10 Per Share)
Trading Symbol	THO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		55,366,241
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000730263
Current Fiscal Year End Date	--07-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Oct. 31, 2020	Jul. 31, 2020
Current assets:
Cash and cash equivalents	$ 337,402	$ 538,519
Restricted cash	2,808	2,844
Accounts receivable, trade, net	653,805	588,069
Factored accounts receivable	111,063	143,278
Accounts receivable, other, net	52,785	82,880
Inventories, net	1,038,250	716,305
Prepaid income taxes, expenses and other	44,203	30,382
Total current assets	2,240,316	2,102,277
Property, plant and equipment, net	1,091,941	1,107,649
Other assets:
Goodwill	1,481,283	1,476,541
Amortizable intangible assets, net	885,454	914,724
Deferred income tax assets, net	70,496	78,738
Other	91,432	91,531
Total other assets	2,528,665	2,561,534
TOTAL ASSETS	5,860,922	5,771,460
Current liabilities:
Accounts payable	753,106	636,506
Current portion of long-term debt	12,519	13,817
Short-term financial obligations	35,257	35,939
Accrued liabilities:
Compensation and related items	194,687	160,083
Product warranties	245,554	252,869
Income and other taxes	59,934	83,893
Promotions and rebates	71,344	97,378
Product, property and related liabilities	14,142	15,440
Dividends payable	22,700	0
Liabilities related to factored receivables	111,063	143,278
Other	76,384	76,078
Total current liabilities	1,596,690	1,515,281
Long-term debt	1,585,019	1,652,831
Deferred income tax liabilities, net	122,137	123,802
Unrecognized tax benefits	13,441	12,765
Other liabilities	123,114	121,212
Total long-term liabilities	1,843,711	1,910,610
Contingent liabilities and commitments	0	0
Stockholders’ equity:
Preferred stock – authorized 1,000,000 shares; none outstanding	0	0
Common stock – par value of $.10 per share; authorized 250,000,000 shares; issued 65,651,570 and 65,396,531 shares, respectively	6,565	6,540
Additional paid-in capital	442,794	436,828
Retained earnings	2,292,387	2,201,330
Accumulated other comprehensive income, net of tax	11,219	26,993
Less treasury shares of 10,285,329 and 10,197,775, respectively, at cost	(360,226)	(351,909)
Stockholders' equity attributable to THOR Industries, Inc.	2,392,739	2,319,782
Non-controlling interests	27,782	25,787
Total stockholders’ equity	2,420,521	2,345,569
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 5,860,922	$ 5,771,460

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Oct. 31, 2020	Jul. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	65,651,570	65,396,531
Treasury, shares (in shares)	10,285,329	10,197,775

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Income Statement [Abstract]
Net sales	$ 2,537,360	$ 2,158,785
Cost of products sold	2,158,508	1,849,974
Gross profit	378,852	308,811
Selling, general and administrative expenses	181,763	188,464
Amortization of intangible assets	27,427	24,293
Interest income	318	975
Interest expense	24,276	28,025
Other income (expense), net	615	(370)
Income before income taxes	146,319	68,634
Income tax provision	30,680	16,789
Net income	115,639	51,845
Less: Net income attributable to non-controlling interests	1,882	780
Net income attributable to THOR Industries, Inc.	$ 113,757	$ 51,065
Weighted-average common shares outstanding:
Basic (in shares)	55,238,164	55,095,074
Diluted (in shares)	55,554,682	55,224,655
Earnings per common share:
Basic (in dollars per share)	$ 2.06	$ 0.93
Diluted (in dollars per share)	$ 2.05	$ 0.92
Comprehensive income:
Net income	$ 115,639	$ 51,845
Other comprehensive income (loss), net of tax
Foreign currency translation adjustment	(18,993)	993
Unrealized gain (loss) on derivatives, net of tax	3,332	(3,722)
Total other comprehensive loss, net of tax	(15,661)	(2,729)
Total Comprehensive income	99,978	49,116
Less: Comprehensive income attributable to non-controlling interests	1,995	638
Comprehensive income attributable to THOR Industries, Inc.	$ 97,983	$ 48,478

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Cash flows from operating activities:
Net income	$ 115,639	$ 51,845
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation	26,812	25,914
Amortization of intangible assets	27,427	24,293
Amortization of debt issuance costs	2,723	2,685
Deferred income tax provision	4,601	2,318
(Gain) loss on disposition of property, plant and equipment	(79)	619
Stock-based compensation expense	5,768	5,013
Changes in assets and liabilities:
Accounts receivable	(36,495)	(65,307)
Inventories, net	(322,047)	(82,152)
Prepaid income taxes, expenses and other	(14,857)	6,649
Accounts payable	127,585	19,639
Accrued liabilities	(20,601)	(46,593)
Long-term liabilities and other	2,234	3,080
Net cash used in operating activities	(81,290)	(51,997)
Cash flows from investing activities:
Purchases of property, plant and equipment	(24,708)	(31,220)
Proceeds from dispositions of property, plant and equipment	975	18,951
Business acquisitions, net of cash acquired	(22,700)	0
Other	0	(1,534)
Net cash used in investing activities	(46,433)	(13,803)
Cash flows from financing activities:
Borrowings on revolving asset-based credit facilities	0	41,569
Payments on term-loan credit facilities	(59,700)	(140,181)
Payments on revolving asset-based credit facilities	0	(5,577)
Payments on other debt	(3,096)	(3,001)
Payments on finance lease obligations	(119)	(107)
Short-term financial obligations and other, net	(5,580)	(7,477)
Net cash used in financing activities	(68,495)	(114,774)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(4,935)	(206)
Net decrease in cash and cash equivalents and restricted cash	(201,153)	(180,780)
Cash and cash equivalents and restricted cash, beginning of period	541,363	451,262
Cash and cash equivalents and restricted cash, end of period	340,210	270,482
Less: restricted cash	2,808	38,704
Cash and cash equivalents	337,402	231,778
Supplemental cash flow information:
Income taxes paid	48,788	24,512
Interest paid	18,207	25,592
Non-cash investing and financing transactions:
Capital expenditures in accounts payable	1,602	3,137
Quarterly dividends payable	$ 22,700	$ 22,080

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Treasury Stock	Stockholders' equity attributable to Thor	Non-controlling interests
Beginning balance (in shares) at Jul. 31, 2019		65,189,907				10,126,434
Balance at beginning of period at Jul. 31, 2019	$ 2,095,228	$ 6,519	$ 416,382	$ 2,066,674	$ (57,004)	$ (348,146)	$ 2,084,425	$ 10,803
Net income	51,845			51,065			51,065	780
Restricted stock unit activity (in shares)		206,624				71,341
Restricted stock unit activity	(2,306)	$ 21	1,436			$ (3,763)	(2,306)
Dividends per common share	(22,080)			(22,080)			(22,080)
Stock-based compensation expense	5,013		5,013				5,013
Other comprehensive income (loss)	(2,729)				(2,587)		(2,587)	(142)
Ending balance (in shares) at Oct. 31, 2019		65,396,531				10,197,775
Ending balance at Oct. 31, 2019	2,124,971	$ 6,540	422,831	2,095,659	(59,591)	$ (351,909)	2,113,530	11,441
Beginning balance (in shares) at Jul. 31, 2020		65,396,531				10,197,775
Balance at beginning of period at Jul. 31, 2020	2,345,569	$ 6,540	436,828	2,201,330	26,993	$ (351,909)	2,319,782	25,787
Net income	115,639			113,757			113,757	1,882
Restricted stock unit activity (in shares)		255,039				87,554
Restricted stock unit activity	(8,094)	$ 25	198			$ (8,317)	(8,094)
Dividends per common share	(22,700)			(22,700)			(22,700)
Stock-based compensation expense	5,768		5,768				5,768
Other comprehensive income (loss)	(15,661)				(15,774)		(15,774)	113
Ending balance (in shares) at Oct. 31, 2020		65,651,570				10,285,329
Ending balance at Oct. 31, 2020	$ 2,420,521	$ 6,565	$ 442,794	$ 2,292,387	$ 11,219	$ (360,226)	$ 2,392,739	$ 27,782

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Equity [Abstract]
Cash dividends, per common share (in dollars per share)	$ 0.41	$ 0.40

Nature of Operations and Accoun

Nature of Operations and Accounting Policies	3 Months Ended
	Oct. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Accounting Policies	Nature of Operations and Accounting Policies Nature of Operations THOR Industries, Inc. was founded in 1980 and is the sole owner of operating subsidiaries (collectively, the “Company” or "THOR"), that, combined, represent the world's largest manufacturer of recreational vehicles (“RVs”). The Company manufactures a wide variety of RVs in the United States and Europe and sells those vehicles, as well as related parts and accessories, primarily to independent, non-franchise dealers throughout the United States, Canada and Europe. Unless the context requires or indicates otherwise, all references to “THOR,” the “Company,” “we,” “our” and “us” refer to THOR Industries, Inc. and its subsidiaries. The July 31, 2020 amounts are derived from the annual audited financial statements of THOR. The interim financial statements are unaudited. In the opinion of management, all adjustments (which consist of normal, recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented have been made. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2020. Due to seasonality within the recreational vehicle industry, and the current COVID-19 pandemic, among other factors, annualizing the results of operations for the three months ended October 31, 2020 would not necessarily be indicative of the results expected for the full fiscal year. Recently Adopted Accounting Standards In January 2017, the FASB issued ASU No. 2017-04, "Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment," which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge (referred to as Step 2 in the goodwill impairment test). Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment charge equal to that excess shall be recognized, not to exceed the amount of goodwill allocated to the reporting unit. This ASU is effective for annual and any interim impairment tests for periods beginning after December 15, 2019. The Company adopted ASU 2017-04, effective August 1, 2020. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements.

Acquisitions

Acquisitions	3 Months Ended
	Oct. 31, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions Togo Group In February 2018, the Company formed a 50/50 joint venture, originally called TH2connect, LLC, with Tourism Holdings Limited (" thl "). In July 2019, this joint venture was rebranded as "Togo Group." Togo Group was formed to own, improve and sell innovative and comprehensive digital applications through a platform designed for the global RV industry. Effective March 23, 2020, the Company and thl reached an agreement (the “2020 Agreement”) whereby the Company obtained additional ownership interest in Togo Group. THOR obtained a 73.5% controlling interest in Togo Group and the power to direct the activities of Togo Group. Since the effective date of the 2020 Agreement, the operating results, balance sheet accounts and cash flow activity of Togo Group have been consolidated within the Company's Condensed Consolidated Financial Statements. The operations of Togo Group are focused on digital solutions primarily for the North American market related to travel and RV use, with expansion into other regions anticipated in future periods. The Togo Group is managed as a stand-alone operating entity and represents a non-reportable segment and a separate reporting unit for goodwill assessment purposes. The table below summarizes the final estimated fair value of the 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 Amortizable intangible assets have a weighted-average useful life of approximately eight years and are amortized on a straight-line basis. The developed technology was valued using the Multi-Period Excess Earnings method, which is a form of the income approach. Trade names and trademarks were valued using the Relief from Royalty method. The majority of the goodwill is expected to be deductible for tax purposes.

Business Segments

Business Segments	3 Months Ended
	Oct. 31, 2020
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 operations of the Company's Postle and Togo Group subsidiaries are included in Other, which is a non-reportable segment. The following tables reflect certain financial information by reportable segment: Three Months Ended October 31, NET SALES: 2020 2019 Recreational vehicles North American Towables $ 1,392,044 $ 1,200,888 North American Motorized 493,855 415,889 Total North America 1,885,899 1,616,777 European 602,488 493,007 Total recreational vehicles 2,488,387 2,109,784 Other 80,707 73,566 Intercompany eliminations (31,734) (24,565) Total $ 2,537,360 $ 2,158,785 Three Months Ended October 31, INCOME (LOSS) BEFORE INCOME TAXES: 2020 2019 Recreational vehicles North American Towables $ 141,179 $ 104,322 North American Motorized 41,567 21,775 Total North America 182,746 126,097 European (5,506) (23,024) Total recreational vehicles 177,240 103,073 Other, net 11,490 11,751 Corporate (42,411) (46,190) Total $ 146,319 $ 68,634 TOTAL ASSETS: October 31, 2020 July 31, 2020 Recreational vehicles North American Towables $ 1,698,128 $ 1,529,913 North American Motorized 644,142 480,225 Total North America 2,342,270 2,010,138 European 2,972,710 3,102,071 Total recreational vehicles 5,314,980 5,112,209 Other, net 236,081 212,378 Corporate 309,861 446,873 Total $ 5,860,922 $ 5,771,460 Three Months Ended October 31, DEPRECIATION AND INTANGIBLE AMORTIZATION EXPENSE: 2020 2019 Recreational vehicles North American Towables $ 15,807 $ 16,271 North American Motorized 3,770 3,494 Total North America 19,577 19,765 European 31,323 27,483 Total recreational vehicles 50,900 47,248 Other 2,911 2,511 Corporate 428 448 Total $ 54,239 $ 50,207 CAPITAL ACQUISITIONS: Recreational vehicles North American Towables $ 9,408 $ 11,275 North American Motorized 1,745 2,568 Total North America 11,153 13,843 European 9,894 15,027 Total recreational vehicles 21,047 28,870 Other 1,444 655 Corporate 361 498 Total $ 22,852 $ 30,023

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Oct. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share The following table reflects the weighted-average common shares used to compute basic and diluted earnings per common share as included on the Condensed Consolidated Statements of Income and Comprehensive Income: Three Months Ended October 31, 2020 2019 Weighted-average common shares outstanding for basic earnings per share 55,238,164 55,095,074 Unvested restricted stock units 316,518 129,581 Weighted-average common shares outstanding assuming dilution 55,554,682 55,224,655 For the three months ended October 31, 2020 and 2019, the Company had 96,809 and 266,699 unvested restricted stock units outstanding, respectively, which were excluded from this calculation as their effect would be antidilutive.

Derivatives and Hedging

Derivatives and Hedging	3 Months Ended
	Oct. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Derivatives and Hedging The fair value of our derivative instruments and the associated notional amounts, presented on a pre-tax basis, were as follows: October 31, 2020 July 31, 2020 Fair Value in Fair Value in Other Current Other Current Cash Flow Hedges Notional Liabilities Notional Liabilities Interest rate swap agreements $ 631,800 $ 20,469 $ 673,400 $ 24,840 Net Investment Hedges The foreign currency transaction gains on the Euro-denominated portion of the term loan, which is designated and effective as a hedge of the Company’s net investment in its Euro-denominated functional currency subsidiaries, are included as a component of the foreign currency translation adjustment. Gains for the three months ended October 31, 2020, net of tax, were $5,482, and losses for the three months ended October 31, 2019, net of tax, were $1,254. There were no amounts reclassified out of accumulated other comprehensive income ("AOCI") pertaining to the net investment hedge during the three-month periods ended October 31, 2020 and October 31, 2019, respectively. Derivatives Not Designated as Hedging Instruments The Company has certain other derivative instruments which have not been designated as hedges. These other derivative instruments had a notional amount totaling approximately $33,806 and a fair value of $1,854 which is included in Other current liabilities in the Condensed Consolidated Balance Sheet as of October 31, 2020. These other derivative instruments had a notional amount totaling approximately $34,862 and a fair value of $1,824, as of July 31, 2020. For these derivative instruments, changes in fair value are recognized in earnings. The total amounts presented in the Condensed Consolidated Statements of Income and Comprehensive Income due to changes in the fair value of the following derivative instruments are as follows: Three Months Ended October 31, 2020 2019 Gain (Loss) on Derivatives Designated as Cash Flow Hedges Gain (Loss) recognized in Other Comprehensive Income, net of tax Foreign currency forward contracts $ — $ (525) Interest rate swap agreements 3,332 (3,197) Total gain (loss) $ 3,332 $ (3,722) Three Months Ended October 31, 2020 2019 Interest Interest Sales Expense Sales Expense (Loss) Reclassified from AOCI, Net of Tax Foreign currency forward contracts $ — $ — $ — $ — Interest rate swap agreements — (2,774) — (495) (Loss) on Derivatives Not Designated as Hedging Instruments Amount of loss recognized in income, net of tax Interest rate swap agreements — (38) — (75) Total (loss) $ — $ (2,812) $ — $ (570)

Inventories

Inventories	3 Months Ended
	Oct. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Major classifications of inventories are as follows: October 31, 2020 July 31, 2020 Finished goods – RV $ 108,327 $ 152,297 Finished goods – other 46,819 44,779 Work in process 209,155 128,181 Raw materials 387,516 302,813 Chassis 334,392 135,194 Subtotal 1,086,209 763,264 Excess of FIFO costs over LIFO costs (47,959) (46,959) Total inventories, net $ 1,038,250 $ 716,305

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Oct. 31, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment consists of the following: October 31, 2020 July 31, 2020 Land $ 135,604 $ 136,200 Buildings and improvements 767,246 760,986 Machinery and equipment 448,204 438,985 Rental vehicles 75,546 83,534 Lease right-of-use assets – operating 34,078 33,609 Lease right-of-use assets – finance 3,536 3,672 Total cost 1,464,214 1,456,986 Less accumulated depreciation (372,273) (349,337) Property, plant and equipment, net $ 1,091,941 $ 1,107,649 See Note 15 to the Condensed Consolidated Financial Statements for further information regarding the lease right-of-use assets.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Oct. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill The components of amortizable intangible assets are as follows: October 31, 2020 July 31, 2020 Accumulated Accumulated Cost Amortization Cost Amortization Dealer networks/customer relationships $ 763,378 $ 270,510 $ 766,198 $ 252,320 Trademarks 276,985 51,066 275,775 47,743 Design technology and other intangibles 212,218 45,551 213,468 40,654 Total amortizable intangible assets $ 1,252,581 $ 367,127 $ 1,255,441 $ 340,717 Estimated future amortization expense is as follows: For the remainder of the fiscal year ending July 31, 2021 $ 81,636 For the fiscal year ending July 31, 2022 112,771 For the fiscal year ending July 31, 2023 92,322 For the fiscal year ending July 31, 2024 83,315 For the fiscal year ending July 31, 2025 76,397 For the fiscal year ending July 31, 2026 and thereafter 439,013 $ 885,454 Changes in the carrying amount of goodwill by reportable segment for the three months ended October 31, 2020 are summarized as follows: North American Towables North American Motorized European Other Total Net balance as of August 1, 2020 $ 333,786 $ — $ 1,037,929 $ 104,826 $ 1,476,541 Fiscal 2021 activity: Goodwill acquired — — — 17,882 17,882 Foreign currency translation — — (13,140) — (13,140) Net balance as of October 31, 2020 $ 333,786 $ — $ 1,024,789 $ 122,708 $ 1,481,283 Changes in the carrying amount of goodwill by reportable segment for the three months ended October 31, 2019 are summarized as follows: North American Towables North American Motorized European Other Total Net balance as of August 1, 2019 $ 334,822 $ — $ 980,339 $ 42,871 $ 1,358,032 Fiscal 2020 activity: Measurement period adjustments — — 3,054 — 3,054 Foreign currency translation — — 179 — 179 Net balance as of October 31, 2019 $ 334,822 $ — $ 983,572 $ 42,871 $ 1,361,265

Concentration of Risk

Concentration of Risk	3 Months Ended
	Oct. 31, 2020
Risks and Uncertainties [Abstract]
Concentration of Risk	Concentration of RiskOne dealer, FreedomRoads, LLC, accounted for 14% and 15% of the Company's consolidated net sales for the three months ended October 31, 2020 and October 31, 2019, respectively. Sales to this dealer are reported within both the North American towables and North American motorized segments. This dealer also accounted for 16% and 18% of the Company’s consolidated trade accounts receivable at October 31, 2020 and July 31, 2020, respectively. The loss of this dealer could have a material effect on the Company’s business.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Oct. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The financial assets and liabilities that are accounted for at fair value on a recurring basis at October 31, 2020 and July 31, 2020 are as follows: Input Level October 31, 2020 July 31, 2020 Cash equivalents Level 1 $ 90,377 $ 227,154 Deferred compensation plan mutual fund assets Level 1 $ 48,993 $ 47,327 Deferred compensation plan liabilities Level 1 $ 63,094 $ 61,290 Interest rate swap liability Level 2 $ 22,323 $ 26,664 Cash equivalents represent investments in government and other money market funds traded in an active market and are reported as a component of Cash and cash equivalents in the Condensed Consolidated Balance Sheets. Deferred compensation plan assets accounted for at fair value are investments in securities (primarily mutual funds) traded in an active market held for the benefit of certain employees of the Company as part of a deferred compensation plan. Additional plan investments in corporate-owned life insurance are recorded at their cash surrender value, not fair value, and therefore are not included above. The Company entered into interest rate swaps to convert a portion of the Company's long-term debt from floating rate to fixed rate debt. As of October 31, 2020, the outstanding swaps had notional contract values of $631,800, partially hedging the interest rate risk related to the Company's U.S. dollar term loan tranche that matures in February 2026. The Company's other interest rate swaps not designated as hedging instruments had a notional contract value of $33,806 at October 31, 2020. The fair value of interest rate swaps is determined by discounting the estimated future cash flows based on the applicable observable yield curves.

Product Warranties

Product Warranties	3 Months Ended
	Oct. 31, 2020
Guarantees and Product Warranties [Abstract]
Product Warranties	Product Warranties The Company generally provides retail customers of its products with a one-year or two-year warranty covering defects in material or workmanship, with longer warranties on certain structural components. Changes in our product warranty liability during the indicated periods are as follows: Three Months Ended October 31, 2020 2019 Beginning balance $ 252,869 $ 289,679 Provision 50,872 60,209 Payments (57,575) (64,593) Foreign currency translation (612) 305 Ending balance $ 245,554 $ 285,600

Long-Term Debt

Long-Term Debt	3 Months Ended
	Oct. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The components of long-term debt are as follows: October 31, 2020 July 31, 2020 Term loan $ 1,530,305 $ 1,597,091 Unsecured notes 29,245 29,620 Other debt 80,361 84,500 Gross long-term debt 1,639,911 1,711,211 Debt issuance costs, net of amortization (42,373) (44,563) Total long-term debt, net of debt issuance costs 1,597,538 1,666,648 Less: current portion of long-term debt (12,519) (13,817) Total long-term debt, net, less current portion $ 1,585,019 $ 1,652,831 On February 1, 2019, the Company entered into a seven-year term loan (“term loan”) agreement, which consists of both a United States Dollar-denominated term loan tranche and a Euro-denominated term loan tranche, and a $750,000 revolving asset-based credit facility (“ABL”). Subject to earlier termination, the term loan matures on February 1, 2026 and the ABL matures on February 1, 2024. As of October 31, 2020, the entire outstanding U.S. term loan tranche balance of $941,900 was subject to a LIBOR-based rate totaling 3.938%, but the interest rate on $631,800 of that balance was fixed at 6.216% through an interest rate swap, dated March 18, 2019, by swapping the underlying 1-month LIBOR rate for a fixed rate of 2.466%. As of July 31, 2020, the entire outstanding U.S. term loan tranche balance of $941,900 was subject to a LIBOR-base rate of 3.938%, but the interest rate on $673,400 of that balance was fixed at 6.216% through an interest rate swap, dated March 18, 2019, by swapping the underlying 1-month LIBOR rate for a fixed rate of 2.466%. The total interest rate on both the October 31, 2020 and July 31, 2020 outstanding Euro term loan tranche balance of $588,405 and $655,191, respectively, was 4.00%. The Company must make mandatory prepayments of principal under the term loan agreement upon the occurrence of certain specified events, including certain asset sales, debt issuances and receipt of annual cash flows in excess of certain amounts. No such specified events occurred during the three months ended October 31, 2020 or 2019. Availability under the ABL agreement is subject to a borrowing base based on a percentage of applicable eligible receivables and eligible inventory. The ABL carries interest at an annual base rate plus 0.25% to 0.75%, or LIBOR plus 1.25% to 1.75%, based on adjusted excess availability as defined in the ABL agreement. This agreement also includes a 0.25% unused facility fee. The Company may, generally at its option, pay any borrowings under the ABL, in whole or in part, at any time and from time to time, without premium or penalty. There were no borrowings outstanding on the ABL agreement as of October 31, 2020 or July 31, 2020. The unused availability under the ABL is generally available to the Company for general operating purposes and, based on October 31, 2020 eligible accounts receivable and inventory balances, net of amounts drawn, totaled approximately $720,000. The unsecured notes of 25,000 Euro ($29,245) relate to long-term debt of our European segment. There are two series, 20,000 Euro ($23,396) with an interest rate of 1.945% maturing in March 2025, and 5,000 Euro ($5,849) with an interest rate of 2.534% maturing February 2028. Other debt relates primarily to real estate loans with varying maturity dates through September 2032 and interest rates ranging from 1.40% to 3.43%. Total contractual gross debt maturities are as follows: For the remainder of the fiscal year ending July 31, 2021 $ 10,266 For the fiscal year ending July 31, 2022 11,875 For the fiscal year ending July 31, 2023 11,996 For the fiscal year ending July 31, 2024 12,121 For the fiscal year ending July 31, 2025 35,395 For the fiscal year ending July 31, 2026 and thereafter 1,558,258 $ 1,639,911 For the three months ended October 31, 2020 and October 31, 2019, interest expense on the term loan, ABL and other debt facilities was $20,588 and $24,349, respectively. The Company incurred fees to secure the term loan and ABL, and those amounts are being amortized ratably over the respective seven The fair value of the Company’s term loan debt at October 31, 2020 and July 31, 2020 was $1,516,474 and $1,565,866, respectively. The carrying value of the Company’s Term loan debt, excluding debt issuance costs, was $1,530,305 and $1,597,091 at October 31, 2020 and July 31, 2020, respectively. The fair value of the Company's debt is primarily estimated using Level 2 inputs as defined by ASC 820, primarily based on quoted market prices for the term loan debt. The fair value of other debt held by the Company approximates fair value.

Provision for Income Taxes

Provision for Income Taxes	3 Months Ended
	Oct. 31, 2020
Income Tax Disclosure [Abstract]
Provision for Income Taxes	Provision for Income Taxes The overall effective income tax rate for the three months ended October 31, 2020 was 21.0%. This rate was favorably impacted by certain foreign rate differences, which include certain interest income not subject to corporate income tax. The overall effective income tax rate for the three months ended October 31, 2019 was 24.5%, which was favorably impacted by certain foreign rate differences, which includes certain interest income not subject to corporate income tax. This benefit was partially offset by additional income tax expense resulting from the vesting of share-based compensation awards during the three months ended October 31, 2019. Within the next 12 months, the Company anticipates a decrease of approximately $5,000 in unrecognized tax benefits, and $1,320 in accrued interest related to unrecognized tax benefits recorded as of October 31, 2020, from expected settlements or payments of uncertain tax positions and lapses of the applicable statutes of limitations. Actual results may differ from these estimates.

Contingent Liabilities, Commitm

Contingent Liabilities, Commitments and Legal Matters	3 Months Ended
	Oct. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities, Commitments and Legal Matters	Contingent Liabilities, Commitments and Legal Matters The Company’s total commercial commitments under standby repurchase obligations on global dealer inventory financing were $1,614,954 and $1,876,922 as of October 31, 2020 and July 31, 2020. The commitment term is generally up to eighteen months. The Company accounts for the guarantee under repurchase agreements of dealers’ financing by deferring a portion of the related product sale that represents the estimated fair value of the guarantee at inception. This deferred amount is included in the repurchase and guarantee reserve balances of $6,308 and $7,747 as of October 31, 2020 and July 31, 2020, respectively, which is included in Other current liabilities in the Condensed Consolidated Balance Sheets. Losses incurred related to repurchase agreements that were settled during the three months ended October 31, 2020 and October 31, 2019 were not material. Based on current market conditions, the Company believes that any future losses under these agreements will not have a material effect on the Company’s consolidated financial position, results of operations or cash flows. The Company is also involved in certain litigation arising out of its operations in the normal course of its business, most of which is based upon state “lemon laws,” warranty claims and vehicle accidents (for which the Company carries insurance above a specified self-insured retention or deductible amount). The outcomes of legal proceedings and claims brought against the Company are subject to significant uncertainty. There is significant judgment required in assessing both the probability of an adverse outcome and the determination as to whether an exposure can be reasonably estimated. Based on current conditions, and in management’s opinion, the ultimate disposition of any current legal proceedings or claims against the Company will not have a material effect on the Company’s financial condition, operating results or cash flows. Litigation is, however, inherently uncertain and an adverse outcome from such litigation could have a material effect on the operating results of a particular reporting period.

Leases

Leases	3 Months Ended
	Oct. 31, 2020
Leases [Abstract]
Leases	Leases The Company has operating leases principally for land, buildings and equipment and has various finance leases for certain land and buildings expiring between calendar 2021 and 2035. Certain of the Company's leases include options to extend or terminate the leases and these options have been included in the relevant lease term to the extent that they are reasonably certain to be exercised. The Company does not include significant restrictions or covenants in our lease agreements, and residual value guarantees are not generally included within our operating leases. The components of lease costs for the three months ended October 31, 2020 and October 31, 2019 were as follows: Three Months Ended October 31, 2020 2019 Operating lease cost $ 3,877 $ 3,031 Finance lease cost Amortization of right-of-use assets 136 136 Interest on lease liabilities 126 137 Total lease cost $ 4,139 $ 3,304 Other information related to leases was as follows: Three Months Ended October 31, Supplemental Cash Flows Information 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,855 $ 3,005 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 2,348 $ 278
Leases	Leases The Company has operating leases principally for land, buildings and equipment and has various finance leases for certain land and buildings expiring between calendar 2021 and 2035. Certain of the Company's leases include options to extend or terminate the leases and these options have been included in the relevant lease term to the extent that they are reasonably certain to be exercised. The Company does not include significant restrictions or covenants in our lease agreements, and residual value guarantees are not generally included within our operating leases. The components of lease costs for the three months ended October 31, 2020 and October 31, 2019 were as follows: Three Months Ended October 31, 2020 2019 Operating lease cost $ 3,877 $ 3,031 Finance lease cost Amortization of right-of-use assets 136 136 Interest on lease liabilities 126 137 Total lease cost $ 4,139 $ 3,304 Other information related to leases was as follows: Three Months Ended October 31, Supplemental Cash Flows Information 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,855 $ 3,005 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 2,348 $ 278 Supplemental Balance Sheet Information October 31, 2020 July 31, 2020 Operating leases: Operating lease right-of-use assets $ 34,078 $ 33,609 Operating lease liabilities Other current liabilities $ 5,794 $ 5,343 Other long-term liabilities 28,496 28,456 Total operating lease liabilities $ 34,290 $ 33,799 Finance leases: Finance lease right-of-use assets $ 3,536 $ 3,672 Finance lease liabilities Other current liabilities $ 523 $ 505 Other long-term liabilities 4,606 4,743 Total finance lease liabilities $ 5,129 $ 5,248 October 31, 2020 July 31, 2020 Weighted-average remaining lease term Operating leases 13.1 years 13.6 years Finance leases 6.6 years 6.8 years Weighted-average discount rate Operating leases 3.4 % 3.4 % Finance leases 9.7 % 9.7 % Future minimum rental payments required under operating and finance leases as of October 31, 2020 were as follows: Operating Leases Financing Leases For the remainder of the fiscal year ending July 31, 2021 $ 8,245 $ 745 For the fiscal year ending July 31, 2022 8,981 1,013 For the fiscal year ending July 31, 2023 6,591 1,036 For the fiscal year ending July 31, 2024 4,668 1,059 For the fiscal year ending July 31, 2025 3,441 1,083 For the fiscal year ending July 31, 2026 and thereafter 18,615 2,061 Total future lease payments $ 50,541 $ 6,997 Less: amount representing interest (16,251) (1,868) Total reported lease liability $ 34,290 $ 5,129

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Oct. 31, 2020
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Stock-Based Compensation Under the Company’s restricted stock unit (“RSU”) program, RSU awards are approved, typically in October, related to the financial performance of the most recently completed fiscal year. The awarded RSUs vest, and shares of common stock are issued, in equal installments on the first, second and third anniversaries of the date of grant. In addition, concurrent with the timing of the employee awards, the Nominating and Governance Committee of the Board of Directors (“Board”) has awarded RSUs to Board members that will vest, and shares of common stock will be issued, on the first anniversary of the date of the grant. In September 2019, the Board approved changes to the equity compensation program for certain members of the Company’s executive management. Under the revised program, a portion of their equity compensation is determined based on performance related to targets set for both the Company’s return on invested capital and free cash flow during a three-year measurement period (North American operations only and a two-year measurement period for fiscal year 2020 grants). These performance stock unit (“PSU”) awards are based on a sliding scale of actual performance against relevant goals within a range of fifty percent (50%) to one hundred fifty percent (150%) of the target. Performance below the fifty percent (50%) threshold will result in no earned shares, while performance above the one hundred fifty percent (150%) level will result in an award of shares equal in value to two times the amount of target shares. In deriving the number of shares earned, if any, both performance metrics are weighted equally. Following the measurement period, in accordance with actual achievement and certification of performance metrics, fully vested shares of common stock will be issued to the award recipients. The fair value of the PSU awards is determined using the Company’s stock price on the grant date. These awards are equity classified and are expensed over the applicable measurement period based on the extent to which achievement of the performance metrics is probable. Total stock-based compensation expense recognized in the three months ended October 31, 2020 and October 31, 2019 for RSU and PSU awards totaled $5,768 and $5,013, respectively.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Oct. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The table below disaggregates revenue to the level that the Company believes best depicts how the nature, amount, timing and uncertainty of the Company’s revenue and cash flows are affected by economic factors. Other RV-related revenues shown below in the European segment include sales related to accessories and services, used vehicle sales at owned dealerships and RV rentals. All material revenue streams are considered point in time. Three Months Ended October 31, NET SALES: 2020 2019 Recreational vehicles North American Towables Travel Trailers and Other $ 837,900 $ 709,665 Fifth Wheels 554,144 491,223 Total North American Towables 1,392,044 1,200,888 North American Motorized Class A 158,555 161,732 Class C 275,399 229,837 Class B 59,901 24,320 Total North American Motorized 493,855 415,889 Total North America 1,885,899 1,616,777 European Motorcaravan 318,343 281,733 Campervan 143,400 77,597 Caravan 55,195 61,032 Other RV-related 85,550 72,645 Total European 602,488 493,007 Total recreational vehicles 2,488,387 2,109,784 Other, primarily aluminum extruded components 80,707 73,566 Intercompany eliminations (31,734) (24,565) Total $ 2,537,360 $ 2,158,785

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Oct. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The components of other comprehensive income (loss) ("OCI") and the changes in the Company's accumulated other comprehensive income (loss) ("AOCI") by component were as follows: Three Months Ended October 31, 2020 2019 Foreign Currency Unrealized Foreign Currency Unrealized Translation Gain (Loss) on Translation Gain (Loss) on Adjustment Derivative Other Total Adjustment Derivative Other Total Balance at beginning of period $ 45,657 $ (18,823) $ (696) $ 26,138 $ (47,078) $ (9,472) $ (1,048) $ (57,598) OCI before reclassifications (18,993) 732 — (18,261) 993 (5,554) — (4,561) Income taxes associated with OCI before reclassifications — (174) — (174) — 1,337 — 1,337 Amounts reclassified from AOCI — 3,639 — 3,639 — 647 — 647 Income taxes associated with amounts reclassified from AOCI — (865) — (865) — (152) — (152) AOCI, net of tax 26,664 (15,491) (696) 10,477 (46,085) (13,194) (1,048) (60,327) Less: AOCI attributable to noncontrolling interest (742) — — (742) (736) — — (736) AOCI, net of tax, attributable to THOR Industries, Inc. $ 27,406 $ (15,491) $ (696) $ 11,219 $ (45,349) $ (13,194) $ (1,048) $ (59,591) The Company does not recognize deferred taxes for a majority of the foreign currency translation gains and losses because the Company does not anticipate reversal in the foreseeable future.

Nature of Operations and Acco_2

Nature of Operations and Accounting Policies (Policies)	3 Months Ended
	Oct. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations THOR Industries, Inc. was founded in 1980 and is the sole owner of operating subsidiaries (collectively, the “Company” or "THOR"), that, combined, represent the world's largest manufacturer of recreational vehicles (“RVs”). The Company manufactures a wide variety of RVs in the United States and Europe and sells those vehicles, as well as related parts and accessories, primarily to independent, non-franchise dealers throughout the United States, Canada and Europe. Unless the context requires or indicates otherwise, all references to “THOR,” the “Company,” “we,” “our” and “us” refer to THOR Industries, Inc. and its subsidiaries. The July 31, 2020 amounts are derived from the annual audited financial statements of THOR. The interim financial statements are unaudited. In the opinion of management, all adjustments (which consist of normal, recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented have been made. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2020. Due to seasonality within the recreational vehicle industry, and the current COVID-19 pandemic, among other factors, annualizing the results of operations for the three months ended October 31, 2020 would not necessarily be indicative of the results expected for the full fiscal year.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In January 2017, the FASB issued ASU No. 2017-04, "Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment," which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge (referred to as Step 2 in the goodwill impairment test). Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment charge equal to that excess shall be recognized, not to exceed the amount of goodwill allocated to the reporting unit. This ASU is effective for annual and any interim impairment tests for periods beginning after December 15, 2019. The Company adopted ASU 2017-04, effective August 1, 2020. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Oct. 31, 2020
Business Combinations [Abstract]
Schedule of recognized identified assets acquired and liabilities assumed	The table below summarizes the final estimated fair value of the 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

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Oct. 31, 2020
Segment Reporting [Abstract]
Schedule of segment reporting information by segment	The following tables reflect certain financial information by reportable segment: Three Months Ended October 31, NET SALES: 2020 2019 Recreational vehicles North American Towables $ 1,392,044 $ 1,200,888 North American Motorized 493,855 415,889 Total North America 1,885,899 1,616,777 European 602,488 493,007 Total recreational vehicles 2,488,387 2,109,784 Other 80,707 73,566 Intercompany eliminations (31,734) (24,565) Total $ 2,537,360 $ 2,158,785 Three Months Ended October 31, INCOME (LOSS) BEFORE INCOME TAXES: 2020 2019 Recreational vehicles North American Towables $ 141,179 $ 104,322 North American Motorized 41,567 21,775 Total North America 182,746 126,097 European (5,506) (23,024) Total recreational vehicles 177,240 103,073 Other, net 11,490 11,751 Corporate (42,411) (46,190) Total $ 146,319 $ 68,634 TOTAL ASSETS: October 31, 2020 July 31, 2020 Recreational vehicles North American Towables $ 1,698,128 $ 1,529,913 North American Motorized 644,142 480,225 Total North America 2,342,270 2,010,138 European 2,972,710 3,102,071 Total recreational vehicles 5,314,980 5,112,209 Other, net 236,081 212,378 Corporate 309,861 446,873 Total $ 5,860,922 $ 5,771,460 Three Months Ended October 31, DEPRECIATION AND INTANGIBLE AMORTIZATION EXPENSE: 2020 2019 Recreational vehicles North American Towables $ 15,807 $ 16,271 North American Motorized 3,770 3,494 Total North America 19,577 19,765 European 31,323 27,483 Total recreational vehicles 50,900 47,248 Other 2,911 2,511 Corporate 428 448 Total $ 54,239 $ 50,207 CAPITAL ACQUISITIONS: Recreational vehicles North American Towables $ 9,408 $ 11,275 North American Motorized 1,745 2,568 Total North America 11,153 13,843 European 9,894 15,027 Total recreational vehicles 21,047 28,870 Other 1,444 655 Corporate 361 498 Total $ 22,852 $ 30,023

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Oct. 31, 2020
Earnings Per Share [Abstract]
Schedule of earnings per common share	The following table reflects the weighted-average common shares used to compute basic and diluted earnings per common share as included on the Condensed Consolidated Statements of Income and Comprehensive Income: Three Months Ended October 31, 2020 2019 Weighted-average common shares outstanding for basic earnings per share 55,238,164 55,095,074 Unvested restricted stock units 316,518 129,581 Weighted-average common shares outstanding assuming dilution 55,554,682 55,224,655

Derivatives and Hedging (Tables

Derivatives and Hedging (Tables)	3 Months Ended
	Oct. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	The fair value of our derivative instruments and the associated notional amounts, presented on a pre-tax basis, were as follows: October 31, 2020 July 31, 2020 Fair Value in Fair Value in Other Current Other Current Cash Flow Hedges Notional Liabilities Notional Liabilities Interest rate swap agreements $ 631,800 $ 20,469 $ 673,400 $ 24,840
Derivative instruments, gain (loss)	The total amounts presented in the Condensed Consolidated Statements of Income and Comprehensive Income due to changes in the fair value of the following derivative instruments are as follows: Three Months Ended October 31, 2020 2019 Gain (Loss) on Derivatives Designated as Cash Flow Hedges Gain (Loss) recognized in Other Comprehensive Income, net of tax Foreign currency forward contracts $ — $ (525) Interest rate swap agreements 3,332 (3,197) Total gain (loss) $ 3,332 $ (3,722) Three Months Ended October 31, 2020 2019 Interest Interest Sales Expense Sales Expense (Loss) Reclassified from AOCI, Net of Tax Foreign currency forward contracts $ — $ — $ — $ — Interest rate swap agreements — (2,774) — (495) (Loss) on Derivatives Not Designated as Hedging Instruments Amount of loss recognized in income, net of tax Interest rate swap agreements — (38) — (75) Total (loss) $ — $ (2,812) $ — $ (570)

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Oct. 31, 2020
Inventory Disclosure [Abstract]
Schedule of major classifications of inventories	Major classifications of inventories are as follows: October 31, 2020 July 31, 2020 Finished goods – RV $ 108,327 $ 152,297 Finished goods – other 46,819 44,779 Work in process 209,155 128,181 Raw materials 387,516 302,813 Chassis 334,392 135,194 Subtotal 1,086,209 763,264 Excess of FIFO costs over LIFO costs (47,959) (46,959) Total inventories, net $ 1,038,250 $ 716,305

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Oct. 31, 2020
Property, Plant and Equipment [Abstract]
Property, plant and equipment	Property, plant and equipment consists of the following: October 31, 2020 July 31, 2020 Land $ 135,604 $ 136,200 Buildings and improvements 767,246 760,986 Machinery and equipment 448,204 438,985 Rental vehicles 75,546 83,534 Lease right-of-use assets – operating 34,078 33,609 Lease right-of-use assets – finance 3,536 3,672 Total cost 1,464,214 1,456,986 Less accumulated depreciation (372,273) (349,337) Property, plant and equipment, net $ 1,091,941 $ 1,107,649

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Oct. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Components of amortizable intangible assets	The components of amortizable intangible assets are as follows: October 31, 2020 July 31, 2020 Accumulated Accumulated Cost Amortization Cost Amortization Dealer networks/customer relationships $ 763,378 $ 270,510 $ 766,198 $ 252,320 Trademarks 276,985 51,066 275,775 47,743 Design technology and other intangibles 212,218 45,551 213,468 40,654 Total amortizable intangible assets $ 1,252,581 $ 367,127 $ 1,255,441 $ 340,717
Estimated amortization expense	Estimated future amortization expense is as follows: For the remainder of the fiscal year ending July 31, 2021 $ 81,636 For the fiscal year ending July 31, 2022 112,771 For the fiscal year ending July 31, 2023 92,322 For the fiscal year ending July 31, 2024 83,315 For the fiscal year ending July 31, 2025 76,397 For the fiscal year ending July 31, 2026 and thereafter 439,013 $ 885,454
Schedule of goodwill	Changes in the carrying amount of goodwill by reportable segment for the three months ended October 31, 2020 are summarized as follows: North American Towables North American Motorized European Other Total Net balance as of August 1, 2020 $ 333,786 $ — $ 1,037,929 $ 104,826 $ 1,476,541 Fiscal 2021 activity: Goodwill acquired — — — 17,882 17,882 Foreign currency translation — — (13,140) — (13,140) Net balance as of October 31, 2020 $ 333,786 $ — $ 1,024,789 $ 122,708 $ 1,481,283 Changes in the carrying amount of goodwill by reportable segment for the three months ended October 31, 2019 are summarized as follows: North American Towables North American Motorized European Other Total Net balance as of August 1, 2019 $ 334,822 $ — $ 980,339 $ 42,871 $ 1,358,032 Fiscal 2020 activity: Measurement period adjustments — — 3,054 — 3,054 Foreign currency translation — — 179 — 179 Net balance as of October 31, 2019 $ 334,822 $ — $ 983,572 $ 42,871 $ 1,361,265

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Oct. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of fair value, assets measured on recurring basis	The financial assets and liabilities that are accounted for at fair value on a recurring basis at October 31, 2020 and July 31, 2020 are as follows: Input Level October 31, 2020 July 31, 2020 Cash equivalents Level 1 $ 90,377 $ 227,154 Deferred compensation plan mutual fund assets Level 1 $ 48,993 $ 47,327 Deferred compensation plan liabilities Level 1 $ 63,094 $ 61,290 Interest rate swap liability Level 2 $ 22,323 $ 26,664

Product Warranties (Tables)

Product Warranties (Tables)	3 Months Ended
	Oct. 31, 2020
Guarantees and Product Warranties [Abstract]
Schedule of changes in product warranty liabilities	Changes in our product warranty liability during the indicated periods are as follows: Three Months Ended October 31, 2020 2019 Beginning balance $ 252,869 $ 289,679 Provision 50,872 60,209 Payments (57,575) (64,593) Foreign currency translation (612) 305 Ending balance $ 245,554 $ 285,600

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Oct. 31, 2020
Debt Disclosure [Abstract]
Schedule of long-term debt instruments	The components of long-term debt are as follows: October 31, 2020 July 31, 2020 Term loan $ 1,530,305 $ 1,597,091 Unsecured notes 29,245 29,620 Other debt 80,361 84,500 Gross long-term debt 1,639,911 1,711,211 Debt issuance costs, net of amortization (42,373) (44,563) Total long-term debt, net of debt issuance costs 1,597,538 1,666,648 Less: current portion of long-term debt (12,519) (13,817) Total long-term debt, net, less current portion $ 1,585,019 $ 1,652,831
Schedule of maturities of long-term debt	Total contractual gross debt maturities are as follows: For the remainder of the fiscal year ending July 31, 2021 $ 10,266 For the fiscal year ending July 31, 2022 11,875 For the fiscal year ending July 31, 2023 11,996 For the fiscal year ending July 31, 2024 12,121 For the fiscal year ending July 31, 2025 35,395 For the fiscal year ending July 31, 2026 and thereafter 1,558,258 $ 1,639,911

Leases (Tables)

Leases (Tables)	3 Months Ended
	Oct. 31, 2020
Leases [Abstract]
Components of lease costs	The components of lease costs for the three months ended October 31, 2020 and October 31, 2019 were as follows: Three Months Ended October 31, 2020 2019 Operating lease cost $ 3,877 $ 3,031 Finance lease cost Amortization of right-of-use assets 136 136 Interest on lease liabilities 126 137 Total lease cost $ 4,139 $ 3,304 Other information related to leases was as follows: Three Months Ended October 31, Supplemental Cash Flows Information 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,855 $ 3,005 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 2,348 $ 278 Supplemental Balance Sheet Information October 31, 2020 July 31, 2020 Operating leases: Operating lease right-of-use assets $ 34,078 $ 33,609 Operating lease liabilities Other current liabilities $ 5,794 $ 5,343 Other long-term liabilities 28,496 28,456 Total operating lease liabilities $ 34,290 $ 33,799 Finance leases: Finance lease right-of-use assets $ 3,536 $ 3,672 Finance lease liabilities Other current liabilities $ 523 $ 505 Other long-term liabilities 4,606 4,743 Total finance lease liabilities $ 5,129 $ 5,248 October 31, 2020 July 31, 2020 Weighted-average remaining lease term Operating leases 13.1 years 13.6 years Finance leases 6.6 years 6.8 years Weighted-average discount rate Operating leases 3.4 % 3.4 % Finance leases 9.7 % 9.7 %
Operating lease liability maturities	Future minimum rental payments required under operating and finance leases as of October 31, 2020 were as follows: Operating Leases Financing Leases For the remainder of the fiscal year ending July 31, 2021 $ 8,245 $ 745 For the fiscal year ending July 31, 2022 8,981 1,013 For the fiscal year ending July 31, 2023 6,591 1,036 For the fiscal year ending July 31, 2024 4,668 1,059 For the fiscal year ending July 31, 2025 3,441 1,083 For the fiscal year ending July 31, 2026 and thereafter 18,615 2,061 Total future lease payments $ 50,541 $ 6,997 Less: amount representing interest (16,251) (1,868) Total reported lease liability $ 34,290 $ 5,129
Finance lease liability maturities	Future minimum rental payments required under operating and finance leases as of October 31, 2020 were as follows: Operating Leases Financing Leases For the remainder of the fiscal year ending July 31, 2021 $ 8,245 $ 745 For the fiscal year ending July 31, 2022 8,981 1,013 For the fiscal year ending July 31, 2023 6,591 1,036 For the fiscal year ending July 31, 2024 4,668 1,059 For the fiscal year ending July 31, 2025 3,441 1,083 For the fiscal year ending July 31, 2026 and thereafter 18,615 2,061 Total future lease payments $ 50,541 $ 6,997 Less: amount representing interest (16,251) (1,868) Total reported lease liability $ 34,290 $ 5,129

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Oct. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of revenue	The table below disaggregates revenue to the level that the Company believes best depicts how the nature, amount, timing and uncertainty of the Company’s revenue and cash flows are affected by economic factors. Other RV-related revenues shown below in the European segment include sales related to accessories and services, used vehicle sales at owned dealerships and RV rentals. All material revenue streams are considered point in time. Three Months Ended October 31, NET SALES: 2020 2019 Recreational vehicles North American Towables Travel Trailers and Other $ 837,900 $ 709,665 Fifth Wheels 554,144 491,223 Total North American Towables 1,392,044 1,200,888 North American Motorized Class A 158,555 161,732 Class C 275,399 229,837 Class B 59,901 24,320 Total North American Motorized 493,855 415,889 Total North America 1,885,899 1,616,777 European Motorcaravan 318,343 281,733 Campervan 143,400 77,597 Caravan 55,195 61,032 Other RV-related 85,550 72,645 Total European 602,488 493,007 Total recreational vehicles 2,488,387 2,109,784 Other, primarily aluminum extruded components 80,707 73,566 Intercompany eliminations (31,734) (24,565) Total $ 2,537,360 $ 2,158,785

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Oct. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of accumulated other comprehensive income (loss)	The components of other comprehensive income (loss) ("OCI") and the changes in the Company's accumulated other comprehensive income (loss) ("AOCI") by component were as follows: Three Months Ended October 31, 2020 2019 Foreign Currency Unrealized Foreign Currency Unrealized Translation Gain (Loss) on Translation Gain (Loss) on Adjustment Derivative Other Total Adjustment Derivative Other Total Balance at beginning of period $ 45,657 $ (18,823) $ (696) $ 26,138 $ (47,078) $ (9,472) $ (1,048) $ (57,598) OCI before reclassifications (18,993) 732 — (18,261) 993 (5,554) — (4,561) Income taxes associated with OCI before reclassifications — (174) — (174) — 1,337 — 1,337 Amounts reclassified from AOCI — 3,639 — 3,639 — 647 — 647 Income taxes associated with amounts reclassified from AOCI — (865) — (865) — (152) — (152) AOCI, net of tax 26,664 (15,491) (696) 10,477 (46,085) (13,194) (1,048) (60,327) Less: AOCI attributable to noncontrolling interest (742) — — (742) (736) — — (736) AOCI, net of tax, attributable to THOR Industries, Inc. $ 27,406 $ (15,491) $ (696) $ 11,219 $ (45,349) $ (13,194) $ (1,048) $ (59,591)

Acquisitions - Togo Group (Deta

Acquisitions - Togo Group (Details) - Togo Group - USD ($) $ in Thousands	Mar. 23, 2020	Oct. 31, 2019
Business Acquisition [Line Items]
Ownership percentage after all transactions	73.50%
Acquired finite-lived intangible assets, weighted average useful life	8 years
Losses from investment		$ 2,095

Acquisitions - Togo Group Sched

Acquisitions - Togo Group Schedule of Net Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Jul. 31, 2020	Mar. 23, 2020	Oct. 31, 2019	Jul. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 1,481,283	$ 1,476,541		$ 1,361,265	$ 1,358,032
Togo Group
Business Acquisition [Line Items]
Cash			$ 326
Accounts receivable			466
Other assets			749
Property, plant and equipment			362
Goodwill			61,955
Liabilities			(2,595)
Non-controlling interest			(16,835)
Total fair value of net assets acquired			52,608
Togo Group | Trade names and trademarks
Business Acquisition [Line Items]
Amortizable intangible assets			1,130
Togo Group | Developed technology
Business Acquisition [Line Items]
Amortizable intangible assets			5,700
Togo Group | Other
Business Acquisition [Line Items]
Amortizable intangible assets			$ 1,350

Business Segments - Additional

Business Segments - Additional Information (Details)	3 Months Ended
	Oct. 31, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	3

Business Segments - Schedule of

Business Segments - Schedule of Reporting Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Jul. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 2,537,360	$ 2,158,785
Income (loss) from continuing operations before income taxes	146,319	68,634
Total assets	5,860,922		$ 5,771,460
Depreciation and amortization expense, total	54,239	50,207
Capital acquisitions	22,852	30,023
Operating segments | Recreational vehicles
Segment Reporting Information [Line Items]
Net sales	2,488,387	2,109,784
Income (loss) from continuing operations before income taxes	177,240	103,073
Total assets	5,314,980		5,112,209
Depreciation and amortization expense, total	50,900	47,248
Capital acquisitions	21,047	28,870
Operating segments | Recreational vehicles | North American
Segment Reporting Information [Line Items]
Net sales	1,885,899	1,616,777
Income (loss) from continuing operations before income taxes	182,746	126,097
Total assets	2,342,270		2,010,138
Depreciation and amortization expense, total	19,577	19,765
Capital acquisitions	11,153	13,843
Operating segments | Recreational vehicles | North American | North American Towables
Segment Reporting Information [Line Items]
Net sales	1,392,044	1,200,888
Income (loss) from continuing operations before income taxes	141,179	104,322
Total assets	1,698,128		1,529,913
Depreciation and amortization expense, total	15,807	16,271
Capital acquisitions	9,408	11,275
Operating segments | Recreational vehicles | North American | North American Motorized
Segment Reporting Information [Line Items]
Net sales	493,855	415,889
Income (loss) from continuing operations before income taxes	41,567	21,775
Total assets	644,142		480,225
Depreciation and amortization expense, total	3,770	3,494
Capital acquisitions	1,745	2,568
Operating segments | Recreational vehicles | European
Segment Reporting Information [Line Items]
Net sales	602,488	493,007
Income (loss) from continuing operations before income taxes	(5,506)	(23,024)
Total assets	2,972,710		3,102,071
Depreciation and amortization expense, total	31,323	27,483
Capital acquisitions	9,894	15,027
Other
Segment Reporting Information [Line Items]
Net sales	80,707	73,566
Income (loss) from continuing operations before income taxes	11,490	11,751
Total assets	236,081		212,378
Depreciation and amortization expense, total	2,911	2,511
Capital acquisitions	1,444	655
Corporate
Segment Reporting Information [Line Items]
Income (loss) from continuing operations before income taxes	(42,411)	(46,190)
Total assets	309,861		$ 446,873
Depreciation and amortization expense, total	428	448
Capital acquisitions	361	498
Intercompany eliminations
Segment Reporting Information [Line Items]
Net sales	$ (31,734)	$ (24,565)

Earnings Per Common Share (Deta

Earnings Per Common Share (Detail) - shares	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Earnings Per Share [Abstract]
Weighted-average common shares outstanding for basic earnings per share (in shares)	55,238,164	55,095,074
Unvested restricted stock units (in shares)	316,518	129,581
Weighted-average common shares outstanding assuming dilution (in shares)	55,554,682	55,224,655
Antidilutive stock options, unvested restricted stock units outstanding (in shares)	96,809	266,699

Derivatives and Hedging - Fair

Derivatives and Hedging - Fair Value and Associated Notional Amounts (Details) - Cash Flow Hedges - Interest rate swap agreements - USD ($)	Oct. 31, 2020	Jul. 31, 2020
Derivative [Line Items]
Notional	$ 631,800,000	$ 673,400,000
Fair value in other current liabilities	$ 20,469,000	$ 24,840,000

Derivatives and Hedging - Narra

Derivatives and Hedging - Narrative (Details) - USD ($)	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Jul. 31, 2020
Derivative [Line Items]
Foreign currency transaction gain (loss)	$ 5,482,000	$ (1,254,000)
Amount reclassified	0	$ 0
Not designated as hedging instrument
Derivative [Line Items]
Notional amount	33,806,000		$ 34,862,000
Derivative liability	$ 1,854,000		$ 1,824,000

Derivatives and Hedging - Finan

Derivatives and Hedging - Financial Statement Impact of Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Not designated as hedging instrument
Gain (Loss) recognized in Other Comprehensive Income, net of tax
Total gain (loss)	$ 3,332	$ (3,722)
Foreign currency forward contracts | Not designated as hedging instrument
Gain (Loss) recognized in Other Comprehensive Income, net of tax
Total gain (loss)	0	(525)
Interest rate swap agreements | Not designated as hedging instrument
Gain (Loss) recognized in Other Comprehensive Income, net of tax
Total gain (loss)	3,332	(3,197)
Sales
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Total (loss)	0	0
Sales | Foreign currency forward contracts | Designated as hedging instrument | Cash Flow Hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
(Loss) Reclassified from AOCI, Net of Tax	0	0
Sales | Interest rate swap agreements | Designated as hedging instrument | Cash Flow Hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
(Loss) Reclassified from AOCI, Net of Tax	0	0
Sales | Interest rate swap agreements | Not designated as hedging instrument
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Amount of loss recognized in income, net of tax	0	0
Interest expense
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Total (loss)	(2,812)	(570)
Interest expense | Foreign currency forward contracts | Designated as hedging instrument | Cash Flow Hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
(Loss) Reclassified from AOCI, Net of Tax	0	0
Interest expense | Interest rate swap agreements | Designated as hedging instrument | Cash Flow Hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
(Loss) Reclassified from AOCI, Net of Tax	(2,774)	(495)
Interest expense | Interest rate swap agreements | Not designated as hedging instrument
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Amount of loss recognized in income, net of tax	$ (38)	$ (75)

Inventories - Schedule of Major

Inventories - Schedule of Major Classifications of Inventories (Detail) - USD ($) $ in Thousands	Oct. 31, 2020	Jul. 31, 2020
Inventory [Line Items]
Work in process	$ 209,155	$ 128,181
Raw materials	387,516	302,813
Chassis	334,392	135,194
Subtotal	1,086,209	763,264
Excess of FIFO costs over LIFO costs	(47,959)	(46,959)
Total inventories, net	1,038,250	716,305
Recreational vehicles
Inventory [Line Items]
Finished products	108,327	152,297
Other
Inventory [Line Items]
Finished products	$ 46,819	$ 44,779

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Thousands	Oct. 31, 2020	Jul. 31, 2020
Inventory Disclosure [Abstract]
Inventories	$ 1,086,209	$ 763,264
Subsidiaries valued inventory in last-in, first-out method	394,184	251,099
Subsidiaries valued inventory in first-in, first-out method	$ 692,025	$ 512,165

Property, Plant and Equipment_2

Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Oct. 31, 2020	Jul. 31, 2020
Property, Plant, Equipment, and ROU Assets [Line Items]
Lease right-of-use assets – operating	$ 34,078	$ 33,609
Lease right-of-use assets – finance	3,536	3,672
Total cost	1,464,214	1,456,986
Less accumulated depreciation	(372,273)	(349,337)
Property, plant and equipment, net	1,091,941	1,107,649
Land
Property, Plant, Equipment, and ROU Assets [Line Items]
Property, plant and equipment	135,604	136,200
Buildings and improvements
Property, Plant, Equipment, and ROU Assets [Line Items]
Property, plant and equipment	767,246	760,986
Machinery and equipment
Property, Plant, Equipment, and ROU Assets [Line Items]
Property, plant and equipment	448,204	438,985
Rental vehicles
Property, Plant, Equipment, and ROU Assets [Line Items]
Property, plant and equipment	$ 75,546	$ 83,534

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Components of Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	Oct. 31, 2020	Jul. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Cost	$ 1,252,581	$ 1,255,441
Accumulated amortization	367,127	340,717
Dealer networks/customer relationships
Finite-Lived Intangible Assets [Line Items]
Cost	763,378	766,198
Accumulated amortization	270,510	252,320
Trademarks
Finite-Lived Intangible Assets [Line Items]
Cost	276,985	275,775
Accumulated amortization	51,066	47,743
Design technology and other intangibles
Finite-Lived Intangible Assets [Line Items]
Cost	212,218	213,468
Accumulated amortization	$ 45,551	$ 40,654

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Estimated Amortization Expense (Detail) - USD ($) $ in Thousands	Oct. 31, 2020	Jul. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
For the remainder of the fiscal year ending July 31, 2021	$ 81,636
For the fiscal year ending July 31, 2022	112,771
For the fiscal year ending July 31, 2023	92,322
For the fiscal year ending July 31, 2024	83,315
For the fiscal year ending July 31, 2025	76,397
For the fiscal year ending July 31, 2026 and thereafter	439,013
Estimated annual amortization expense, total	$ 885,454	$ 914,724

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Goodwill [Line Items]
Goodwill	$ 1,481,283	$ 1,361,265	$ 1,476,541	$ 1,358,032
Goodwill acquired	17,882
Measurement period adjustments		3,054
Foreign currency translation	(13,140)	179
Other
Goodwill [Line Items]
Goodwill	122,708	42,871	104,826	42,871
Goodwill acquired	17,882
Measurement period adjustments		0
Foreign currency translation	0	0
Europe | Recreational vehicles
Goodwill [Line Items]
Goodwill	1,024,789	983,572	1,037,929	980,339
Goodwill acquired	0
Measurement period adjustments		3,054
Foreign currency translation	(13,140)	179
North American Towables | North America | Recreational vehicles
Goodwill [Line Items]
Goodwill	333,786	334,822	333,786	334,822
Goodwill acquired	0
Measurement period adjustments		0
Foreign currency translation	0	0
North American Motorized | North America | Recreational vehicles
Goodwill [Line Items]
Goodwill	0	0	$ 0	$ 0
Goodwill acquired	0
Measurement period adjustments		0
Foreign currency translation	$ 0	$ 0

Concentration of Risk (Detail)

Concentration of Risk (Detail) - Customer concentration risk - Freedom Roads, LLC	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Sales revenue
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	15.00%
Accounts receivable
Concentration Risk [Line Items]
Concentration risk percentage	16.00%	18.00%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value, Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Oct. 31, 2020	Jul. 31, 2020
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 90,377	$ 227,154
Deferred compensation plan mutual fund assets	48,993	47,327
Deferred compensation plan liabilities	63,094	61,290
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap liability	$ 22,323	$ 26,664

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	Oct. 31, 2020	Jul. 31, 2020
Not designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount	$ 33,806	$ 34,862
Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount	631,800
Interest rate swap | Not designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount	$ 33,806

Product Warranties - Additional

Product Warranties - Additional Information (Detail)	3 Months Ended
	Oct. 31, 2020
Product warranty one
Product Warranty Liability [Line Items]
Warranty period for retail customers, years	1 year
Product warranty two
Product Warranty Liability [Line Items]
Warranty period for retail customers, years	2 years

Product Warranties - Changes in

Product Warranties - Changes in Warranty Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Product Warranty
Beginning balance	$ 252,869	$ 289,679
Provision	50,872	60,209
Payments	(57,575)	(64,593)
Foreign currency translation	(612)	305
Ending balance	$ 245,554	$ 285,600

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term Debt (Details) $ in Thousands	Oct. 31, 2020USD ($)	Oct. 31, 2020EUR (€)	Jul. 31, 2020USD ($)
Debt Disclosure [Abstract]
Term loan	$ 1,530,305		$ 1,597,091
Unsecured notes	29,245	€ 25,000,000	29,620
Other debt	80,361		84,500
Gross long-term debt	1,639,911		1,711,211
Debt issuance costs, net of amortization	(42,373)		(44,563)
Total long-term debt, net of debt issuance costs	1,597,538		1,666,648
Less: current portion of long-term debt	(12,519)		(13,817)
Total long-term debt, net, less current portion	$ 1,585,019		$ 1,652,831

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	Feb. 02, 2019	Feb. 01, 2019USD ($)	Oct. 31, 2020USD ($)	Oct. 31, 2019USD ($)	Oct. 31, 2020EUR (€)	Jul. 31, 2020USD ($)
Line of Credit Facility [Line Items]
Unsecured debt			$ 29,245,000		€ 25,000,000	$ 29,620,000
Interest expense			20,588,000	$ 24,349,000
Fees to secure the facility, amortized amount			2,723,000	$ 2,685,000
Unamortized debt issuance expense			9,106,000			9,807,000
Term loan			$ 1,530,305,000			1,597,091,000
Term loan
Line of Credit Facility [Line Items]
Debt instrument, term		7 years
Loan fee amortization period			7 years
Debt, fair value			$ 1,516,474,000			1,565,866,000
Term loan | US tranche
Line of Credit Facility [Line Items]
Line of credit, outstanding amount			$ 631,800,000			$ 673,400,000
Long-term debt, percentage bearing fixed interest			6.216%		6.216%	6.216%
Term loan | US tranche | LIBOR
Line of Credit Facility [Line Items]
Line of credit, outstanding amount			$ 941,900,000			$ 941,900,000
Stated interest rate			3.938%		3.938%	3.938%
Term loan | US tranche | 1-month LIBOR
Line of Credit Facility [Line Items]
Stated interest rate			2.466%		2.466%	2.466%
Term loan | Euro tranche
Line of Credit Facility [Line Items]
Line of credit, outstanding amount			$ 588,405,000			$ 655,191,000
Stated interest rate			4.00%		4.00%	4.00%
Unsecured series one debt
Line of Credit Facility [Line Items]
Stated interest rate			1.945%		1.945%
Unsecured debt			$ 23,396,000		€ 20,000,000
Unsecured series two debt
Line of Credit Facility [Line Items]
Stated interest rate			2.534%		2.534%
Unsecured debt			$ 5,849,000		€ 5,000,000
Other long term debt | Minimum
Line of Credit Facility [Line Items]
Stated interest rate			1.40%		1.40%
Other long term debt | Maximum
Line of Credit Facility [Line Items]
Stated interest rate			3.43%		3.43%
Asset-based credit facility
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity		$ 750,000,000
Line of credit, unused capacity commitment fee percentage	0.25%
Accounts receivable and inventory, net of amounts drawn			$ 720,000,000
Loan fee amortization period			5 years
Asset-based credit facility | LIBOR | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.25%
Asset-based credit facility | LIBOR | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.75%
Asset-based credit facility | Base Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.25%
Asset-based credit facility | Base Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.75%

Long-Term Debt - Schedule of Ma

Long-Term Debt - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Jul. 31, 2020
Debt Disclosure [Abstract]
For the remainder of the fiscal year ending July 31, 2021	$ 10,266
For the fiscal year ending July 31, 2022	11,875
For the fiscal year ending July 31, 2023	11,996
For the fiscal year ending July 31, 2024	12,121
For the fiscal year ending July 31, 2025	35,395
For the fiscal year ending July 31, 2026 and thereafter	1,558,258
Gross long-term debt	$ 1,639,911	$ 1,711,211

Provision for Income Taxes (Det

Provision for Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate	21.00%	24.50%
Expected decrease in unrecognized tax benefits due to resolution of uncertain tax positions	$ 5,000
Accrued interest	$ 1,320

Contingent Liabilities, Commi_2

Contingent Liabilities, Commitments and Legal Matters (Detail) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2020	Jul. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Standby repurchase obligations amount	$ 1,614,954	$ 1,876,922
Term of commitments	18 months
Repurchase and guarantee reserve balances	$ 6,308	$ 7,747

Leases - Components of Lease Co

Leases - Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Leases [Abstract]
Operating lease cost	$ 3,877	$ 3,031
Amortization of right-of-use assets	136	136
Interest on lease liabilities	126	137
Total lease cost	$ 4,139	$ 3,304

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Jul. 31, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 3,855	$ 3,005
Operating leases	$ 2,348	$ 278
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent		us-gaap:OtherLiabilitiesCurrent
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent		us-gaap:OtherLiabilitiesNoncurrent
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent		us-gaap:OtherLiabilitiesCurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent		us-gaap:OtherLiabilitiesNoncurrent

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Jul. 31, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 34,078	$ 33,609
Operating lease liabilities
Other current liabilities	5,794	5,343
Other long-term liabilities	28,496	28,456
Total operating lease liabilities	34,290	33,799
Finance lease right-of-use assets	3,536	3,672
Finance lease liabilities
Other current liabilities	523	505
Other long-term liabilities	4,606	4,743
Total finance lease liabilities	$ 5,129	$ 5,248
Weighted-aver remaining lease term - operating leases	13 years 1 month 6 days	13 years 7 months 6 days
Weighted-aver remaining lease term - finance leases	6 years 7 months 6 days	6 years 9 months 18 days
Weighted-average discount rate - operating leases	3.40%	3.40%
Weighted-average discount rate - finance leases	9.70%	9.70%

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Company's Operating and Finance Leases (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Jul. 31, 2020
Operating Leases
For the remainder of the fiscal year ending July 31, 2021	$ 8,245
For the fiscal year ending July 31, 2022	8,981
For the fiscal year ending July 31, 2023	6,591
For the fiscal year ending July 31, 2024	4,668
For the fiscal year ending July 31, 2025	3,441
For the fiscal year ending July 31, 2026 and thereafter	18,615
Total future lease payments	50,541
Less: amount representing interest	(16,251)
Total operating lease liabilities	34,290	$ 33,799
Financing Leases
For the remainder of the fiscal year ending July 31, 2021	745
For the fiscal year ending July 31, 2022	1,013
For the fiscal year ending July 31, 2023	1,036
For the fiscal year ending July 31, 2024	1,059
For the fiscal year ending July 31, 2025	1,083
For the fiscal year ending July 31, 2026 and thereafter	2,061
Total future lease payments	6,997
Less: amount representing interest	(1,868)
Total reported lease liability	$ 5,129	$ 5,248

Stockholders' Equity (Detail)

Stockholders' Equity (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Jul. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Measurement period	2 years		3 years
Performance shares (PSUs) | Share-based compensation award, tranche two | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentages	50.00%
Performance shares (PSUs) | Share-based compensation award, tranche two | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentages	150.00%
Performance shares (PSUs) | Share-based compensation award, tranche one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentages	50.00%
Performance shares (PSUs) | Share-based compensation award, tranche three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentages	150.00%
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 5,768	$ 5,013

Revenue Recognition (Detail)

Revenue Recognition (Detail) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 2,537,360	$ 2,158,785
Operating segments | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	2,488,387	2,109,784
Operating segments | North America | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	1,885,899	1,616,777
Operating segments | Europe | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	602,488	493,007
Operating segments | Travel Trailers and Other | North America | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	837,900	709,665
Operating segments | Fifth Wheels | North America | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	554,144	491,223
Operating segments | North American Towables | North America | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	1,392,044	1,200,888
Operating segments | Class A | North America | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	158,555	161,732
Operating segments | Class C | North America | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	275,399	229,837
Operating segments | Class B | North America | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	59,901	24,320
Operating segments | North American Motorized | North America | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	493,855	415,889
Operating segments | Motorcaravan | Europe | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	318,343	281,733
Operating segments | Campervan | Europe | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	143,400	77,597
Operating segments | Caravan | Europe | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	55,195	61,032
Operating segments | Other RV-related | Europe | Recreational vehicles
Disaggregation of Revenue [Line Items]
Net sales	85,550	72,645
Corporate and eliminations
Disaggregation of Revenue [Line Items]
Net sales	80,707	73,566
Intercompany eliminations
Disaggregation of Revenue [Line Items]
Net sales	$ (31,734)	$ (24,565)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ 2,345,569	$ 2,095,228
Ending balance	2,420,521	2,124,971
Foreign currency translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	45,657	(47,078)
OCI before reclassifications	(18,993)	993
Income taxes associated with OCI before reclassifications	0	0
Amounts reclassified from AOCI	0	0
Income taxes associated with amounts reclassified from AOCI	0	0
Ending balance	26,664	(46,085)
Unrealized gain (loss) on derivative
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(18,823)	(9,472)
OCI before reclassifications	732	(5,554)
Income taxes associated with OCI before reclassifications	(174)	1,337
Amounts reclassified from AOCI	3,639	647
Income taxes associated with amounts reclassified from AOCI	(865)	(152)
Ending balance	(15,491)	(13,194)
Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(696)	(1,048)
OCI before reclassifications	0	0
Income taxes associated with OCI before reclassifications	0	0
Amounts reclassified from AOCI	0	0
Income taxes associated with amounts reclassified from AOCI	0	0
Ending balance	(696)	(1,048)
AOCI including portion attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	26,138	(57,598)
OCI before reclassifications	(18,261)	(4,561)
Income taxes associated with OCI before reclassifications	(174)	1,337
Amounts reclassified from AOCI	3,639	647
Income taxes associated with amounts reclassified from AOCI	(865)	(152)
Ending balance	10,477	(60,327)
Foreign currency translation adjustment, attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	(742)	(736)
Unrealized gain (loss) on derivatives, attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	0	0
Other, attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	0	0
AOCI, attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	(742)	(736)
Foreign currency translation adjustment, attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	27,406	(45,349)
Unrealized gain (loss) on derivative, attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	(15,491)	(13,194)
Other, attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	(696)	(1,048)
AOCI, attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	26,993	(57,004)
Ending balance	$ 11,219	$ (59,591)